Reliance Industries Ltd logo

Reliance Industries Ltd

RELIANCE NSE

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products
Market Cap
17.9L Cr
Volatility
Moderate
P/E Ratio
23.94
EBITDA
2.1L Cr
Return on Equity
8.8%
Debt to Equity
0.45
Book Value
₹668.04
EPS
₹101.61
52W High
₹1,611.8
52W Low
₹1,249.8

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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36 extracted metrics + investor summaries across FY06–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

2
  • Company has a low return on equity of 8.77% over last 3 years.
  • Dividend payout has been low at 10.2% of profits over last 3 years

Growth Rate

Revenue Growth
10.53% ↗
Net Income Growth
18.35% ↗
Cash Flow Change
7.50% ↗
ROE
10.00% ↘
ROCE
5.40% ↘
EBITDA Margin (Avg.)
2.52% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
AI opinion · based on fundamentals
Risk medium

Reliance Industries is a ₹17.7 lakh crore conglomerate trading at a PE of 20.2x with 15% TTM sales growth but flat TTM profit growth. Its ROE has remained modest at ~9% over the last decade, while the digital (Jio) and retail verticals are growing rapidly but the legacy O2C segment faces cyclical margin pressure.

Bull Case 8
  • Jio Platforms subscriber base crossed 524 million in Q4 FY26 with ARPU rising to ₹214, driving 12.5% YoY revenue growth to ₹38,259 crore in the quarter
  • Consolidated revenue grew at a 15% TTM rate and 18% CAGR over 5 years, demonstrating consistent top-line scaling across cycles
  • FY26 full-year revenue reached ₹11.76 lakh crore with EBITDA of ₹2.08 lakh crore, reflecting 10% and 13.5% YoY growth respectively
  • Jio 5G user base surged to 268 million (out of 524 million total), positioning the company for higher-value digital services monetisation
  • 10-year stock CAGR of 19% and 10-year compounded profit growth of 10% indicate sustained long-term value creation
  • Diversified business model spanning O2C, telecom, retail (20,000+ stores), and new energy reduces single-segment dependency
  • Q1 FY27 consolidated revenue jumped 24.5% YoY to ₹3.4 lakh crore with EBITDA exceeding ₹54,000 crore, showing acceleration
  • Retail arm store count crossed 20,000 with continued physical and digital commerce expansion across India
Bear Case 8
  • Return on equity has stagnated at approximately 9% over 3, 5, and 10-year periods — below the cost of equity for a business of this scale
  • Q4 FY26 consolidated net profit fell 12.5% YoY to ₹16,971 crore, showing earnings vulnerability to energy margin cycles
  • Dividend payout ratio of just 10.2% of profits over the last 3 years with a yield of only 0.46%, offering minimal income return to shareholders
  • Gross debt rose to ₹2.34 lakh crore in March 2026 from ₹2.01 lakh crore in March 2025 — a 16% increase in one year
  • Stock has delivered negative 5% returns over the trailing 1-year and only 1% CAGR over 3 years, underperforming broader markets
  • TTM compounded profit growth is 0%, indicating that despite top-line momentum, bottom-line expansion has stalled
  • O2C segment remains exposed to global refining margin volatility and crude price swings, as evidenced by the Q4 FY26 profit decline
  • PE of 20.2x with a PB of 1.97x and sub-9% ROE implies the stock is priced for growth that has not yet materialised in returns on capital

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 19h ago
Positives 3
  • Q1FY27 profit up 6.1% Jul 22

    Consolidated net profit rose 6.1% YoY to ₹23,196 crore on revenue of ₹311,850 crore (+25.4% YoY). Highest-ever quarterly recurring EBITDA of ₹54,067 crore (+10.1% YoY) with brokerages maintaining targets up to ₹1,870.

  • Diesel exports rise to Europe/Brazil Jul 31

    Reliance increased diesel exports to Europe and Brazil in July, reflecting active management of refining export flows amid favourable margins.

  • Entering ammonium nitrate business Jul 21

    Reliance seeks shareholder approval for RPTs worth ₹1.45 lakh crore and entry into the ammonium nitrate business, with e-voting open July 22 to August 20, 2026.

Neutral 5
  • ₹856 crore block trades on Aug 5 Aug 5

    Six block trades totalling ~₹667 crore were executed on NSE at prices ranging ₹1,273.70–₹1,289.60 per share, involving ~5.2 million shares in a single session, indicating significant institutional activity.

  • ₹188 crore BSE block trade Aug 3

    A block trade worth ₹188.11 crore was executed on BSE involving ~14.34 lakh shares at ₹1,312.00 per share, reflecting institutional participation.

  • Investor meet at Emkay Confluence Aug 7

    Reliance executives will participate in Emkay Confluence 2026 on August 12 in Mumbai for one-on-one investor meetings with no unpublished price-sensitive information to be shared.

  • Radisys Cayman merged with holding co Aug 1

    Step-down subsidiary Radisys Cayman Limited merged with holding company Radisys International LLC effective July 31, 2026, as part of corporate simplification.

  • ₹59.72 crore NSE block trade Jul 24

    Block trade of ~4.78 lakh shares at ₹1,249.80 per share worth ₹59.72 crore executed on NSE, typical of institutional activity.

TL;DR: Reliance delivered a solid Q1FY27 with record EBITDA and profit growth backed by strength in O2C, Retail, and Digital Services. No clear headwinds emerged in recent news flow, with heavy institutional block deal activity suggesting steady large-investor participation. The company is diversifying into ammonium nitrate and expanding diesel export reach. The trend is stable-to-positive, supported by earnings momentum and new business initiatives.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,07,559
2,31,886
2,25,086
2,36,533
2,31,784
2,31,535
2,39,986
2,61,388
2,43,632
2,54,623
2,64,905
2,94,059
3,09,468
Expenses
1,69,466
1,90,918
1,84,430
1,94,017
1,93,019
1,92,477
1,96,197
2,17,556
2,00,727
2,08,738
2,18,887
2,49,918
2,61,951
Operating Profit
38,093
40,968
40,656
42,516
38,765
39,058
43,789
43,832
42,905
45,885
46,018
44,141
47,517
OPM %
18%
18%
18%
18%
17%
17%
18%
17%
18%
18%
17%
15%
15%
Other Income
3,813
3,841
3,869
4,534
3,983
4,876
4,214
4,905
15,119
4,482
4,914
4,447
6,550
Interest
5,837
5,731
5,789
5,761
5,918
6,017
6,179
6,155
7,036
6,827
6,613
6,585
8,337
Depreciation
11,775
12,585
12,903
13,569
13,596
12,880
13,181
13,479
13,842
14,416
14,622
14,808
15,100
PBT
24,294
26,493
25,833
27,720
23,234
25,037
28,643
29,103
37,146
29,124
29,697
27,195
30,630
Tax %
25%
25%
25%
24%
25%
24%
24%
23%
17%
24%
25%
24%
25%
Net Profit
18,258
19,878
19,641
21,243
17,445
19,323
21,930
22,611
30,783
22,092
22,290
20,589
23,196
EPS in Rs
11.83
12.85
12.76
14.01
11.19
12.24
13.7
14.34
19.95
13.42
13.78
12.54
15.48
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
3,74,372
2,72,583
3,03,954
3,90,823
5,68,337
5,96,679
4,66,307
6,94,673
8,76,396
8,99,041
9,62,820
10,55,780
11,23,055
Expenses
3,36,923
2,30,802
2,57,647
3,26,508
4,84,087
5,07,413
3,85,517
5,86,092
7,34,078
7,36,543
7,97,222
8,76,715
9,39,494
Operating Profit
37,449
41,781
46,307
64,315
84,250
89,266
80,790
1,08,581
1,42,318
1,62,498
1,65,598
1,79,065
1,83,561
OPM %
10%
15%
15%
16%
15%
15%
17%
16%
16%
18%
17%
17%
16%
Other Income
8,528
12,212
9,222
9,869
8,406
8,570
22,432
19,600
12,020
15,792
17,824
28,846
20,393
Interest
3,316
3,691
3,849
8,052
16,495
22,027
21,189
14,584
19,571
23,118
24,269
27,061
28,362
Depreciation
11,547
11,565
11,646
16,706
20,934
22,203
26,572
29,782
40,303
50,832
53,136
57,688
58,946
PBT
31,114
38,737
40,034
49,426
55,227
53,606
55,461
83,815
94,464
1,04,340
1,06,017
1,23,162
1,16,646
Tax %
24%
23%
25%
27%
28%
26%
3%
19%
22%
25%
24%
22%
—
Net Profit
23,640
29,861
29,833
36,080
39,837
39,880
53,739
67,845
74,088
79,020
81,309
95,754
88,167
EPS in Rs
17.07
21.51
21.55
26.69
29.28
29.1
38.75
44.87
49.29
51.45
51.47
59.69
55.22
Div. Payout %
12%
10%
11%
10%
10%
10%
9%
9%
9%
10%
11%
10%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
2,943
2,948
2,959
5,922
5,926
6,339
6,445
6,765
6,766
6,766
13,532
13,532
Reserves
2,15,556
2,28,608
2,60,750
2,87,584
3,81,186
4,42,827
6,93,727
7,72,720
7,09,106
7,86,715
8,29,668
8,90,498
Borrowings
1,68,251
1,94,714
2,17,475
2,39,843
3,07,714
3,55,133
2,78,962
3,19,158
4,51,664
3,50,719
3,74,313
4,02,962
Other Liabilities
1,17,736
1,72,727
2,25,618
2,77,924
3,02,804
3,58,716
3,40,931
3,99,979
4,38,346
6,10,848
7,32,200
8,70,554
Total Liabilities
5,04,486
5,98,997
7,06,802
8,11,273
9,97,630
11,63,015
13,20,065
14,98,622
16,05,882
17,55,048
19,49,713
21,77,546
Fixed Assets
1,56,458
1,84,910
1,98,526
4,03,885
3,98,374
5,32,658
5,41,258
6,27,798
7,24,805
7,79,985
9,99,393
11,24,795
CWIP
1,66,462
2,28,697
3,24,837
1,87,022
1,79,463
1,09,106
1,25,953
1,72,506
2,93,752
3,38,855
2,62,358
2,37,686
Investments
76,451
84,015
82,899
82,862
2,35,635
2,76,767
3,64,828
3,94,264
2,35,560
2,25,672
2,42,381
2,48,332
Other Assets
1,05,115
1,01,375
1,00,540
1,37,504
1,84,158
2,44,484
2,88,026
3,04,054
3,51,765
4,10,536
4,45,581
5,66,733
Total Assets
5,04,486
5,98,997
7,06,802
8,11,273
9,97,630
11,63,015
13,20,065
14,98,622
16,05,882
17,55,048
19,49,713
21,77,546
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
34,374
38,134
49,550
71,459
42,346
94,877
26,958
1,10,654
1,15,032
1,58,788
1,78,703
1,92,113
Investing
-64,706
-36,186
-66,201
-68,192
-94,507
-72,497
-1,42,385
-1,09,162
-93,001
-1,13,581
-1,37,535
-1,01,089
Financing
8,444
-3,210
8,617
-2,001
55,906
-2,541
1,01,904
17,289
10,455
-16,646
-31,891
-51,549
Net Cash Flow
-21,888
-1,262
-8,034
1,266
3,745
19,839
-13,523
18,781
32,486
28,561
9,277
39,475
Free Cash Flow
-28,588
-8,420
-27,077
-1,495
-50,431
19,324
-76,560
13,646
-16,770
21,212
41,079
70,023
CFO/OP
109
112
129
126
65
116
37
105
85
105
115
113
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
5
6
10
16
19
12
15
12
12
13
16
20
Inventory Days
66
90
84
83
63
67
102
83
87
95
85
88
Days Payable
74
117
132
146
100
87
136
123
91
111
108
84
Cash Conversion Cycle
-2
-21
-38
-46
-18
-9
-19
-27
7
-3
-8
25
Working Capital Days
-64
-148
-179
-179
-108
-158
-58
-56
-66
-53
-68
-66
ROCE %
9%
10%
10%
11%
12%
11%
8%
8%
9%
10%
10%
10%

Shareholding Pattern

As of Jun 2026
Promoters 50.48%
DIIs 21.19%
FIIs 17.20%
Public 8.58%
Others 2.46%
Government 0.10%
Total 100.01%
  Dec 2015Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Oct 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
46.66%
50.58%
50.59%
50.61%
50.61%
50.66%
50.62%
50.57%
50.49%
50.41%
50.39%
50.27%
50.30%
50.31%
50.33%
50.24%
50.24%
50.13%
50.11%
50.07%
50.01%
50.01%
50.00%
50.48%
FIIs
14.19%
0.02%
0.02%
0.02%
0.02%
0.02%
0.03%
0.05%
0.05%
0.07%
0.07%
22.60%
22.14%
22.06%
21.75%
21.29%
20.17%
19.15%
19.06%
19.21%
18.65%
19.09%
18.67%
17.20%
DIIs
13.48%
10.35%
10.78%
10.84%
11.20%
11.74%
12.16%
14.10%
15.34%
16.14%
16.23%
16.07%
16.68%
17.09%
17.41%
17.68%
18.31%
19.10%
19.45%
19.80%
20.33%
20.18%
20.55%
21.19%
Government
0.13%
0.20%
0.18%
0.18%
0.17%
0.17%
0.17%
0.10%
0.10%
0.10%
0.11%
0.11%
0.11%
0.12%
0.12%
0.12%
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
0.10%
Public
10.18%
8.89%
8.97%
8.62%
8.78%
8.71%
8.65%
8.60%
8.44%
8.72%
8.60%
8.80%
8.65%
8.39%
8.37%
8.58%
8.75%
9.01%
8.86%
8.48%
8.50%
8.27%
8.36%
8.58%
Others
15.36%
29.96%
29.46%
29.73%
29.21%
28.69%
28.38%
26.57%
25.57%
24.56%
24.61%
2.15%
2.12%
2.03%
2.03%
2.09%
2.43%
2.50%
2.42%
2.35%
2.41%
2.36%
2.33%
2.46%
No. of Shareholders
26,68,390
30,31,270
32,04,330
30,43,510
32,50,800
33,27,850
33,06,730
34,85,820
33,62,920
36,39,400
35,06,870
36,98,650
36,13,810
34,63,280
34,93,120
38,34,970
42,90,630
47,14,960
47,65,730
44,35,760
43,93,760
42,06,160
44,21,290
46,51,860

Documents

1
Concall - Oct 2017 Oct 2017
2
Concall - Jan 2018 Jan 2018
3
Concall - Apr 2018 Apr 2018
4
Concall - Oct 2018 Oct 2018
5
Concall - Jan 2019 Jan 2019

Frequently Asked Questions about Reliance Industries Ltd

What does Reliance Industries Ltd do?
Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50% shareholding in the conglomerate.
Where is Reliance Industries Ltd (RELIANCE) listed?
Reliance Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: RELIANCE and BSE: 500325. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Reliance Industries Ltd belong to?
Reliance Industries Ltd operates in the Petroleum Products sector within the Refineries & Marketing industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Reliance Industries Ltd?
Reliance Industries Ltd has a market capitalisation of approximately ₹1793332.03 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Reliance Industries Ltd?
The Price-to-Earnings (PE) ratio of Reliance Industries Ltd is 23.94. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Reliance Industries Ltd?
Over the past 52 weeks, Reliance Industries Ltd has traded between a low of ₹1,249.8 and a high of ₹1,611.8. This range helps investors understand the stock's price volatility and recent trading levels.
Does Reliance Industries Ltd pay dividends?
Yes, Reliance Industries Ltd has a dividend yield of 0.46%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Reliance Industries Ltd?
Reliance Industries Ltd has a Return on Equity (ROE) of 8.80%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Reliance Industries Ltd on Tapetide?
On Tapetide, you can view Reliance Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50% shareholding in the conglomerate.

Website ril.com
CEO Mr. Mukesh Dhirubhai Ambani
Employees 4,03,303
Listed 1995-11-29
Face Value ₹ 10
Issued Size 13,53,24,72,634

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