Jio Platforms
- P/E
- 40.05
Key Fundamentals
LargecapPrice-based figures as of · TTM
- ROCE
- 8.94%
- Debt to Equity
- —
- EPS (TTM)
- ₹35.50
- Book Value
- ₹397.64
- Market Cap
- —
- P/E (TTM)
- 40.05
- P/B
- 3.58
- ROE
- 8.92%
- Dividend Yield
- 0.00%
- EBITDA
- —
- 52W High
- ₹1,489.70
- 52W Low
- ₹1,357.00
- Day Range
- ₹1,413.50 – ₹1,455.00
- Volume
- 75,09,793
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Neutral | 0 | 19 | 0 |
| Oscillators | Neutral | 0 | 9 | 0 |
| Moving Averages | Neutral | 0 | 10 | 0 |
Oscillators
Neutral
Overall
Neutral
Moving Averages
Neutral
Key readings
- RSI (14)
- —
- Neutral
- MACD (12,26,9)
- —
- Neutral
- SMA (50)
- —
- Neutral
- SMA (200)
- —
- Neutral
As of
Analyst Rating
3 of 4 analysts rate Buy, 1 Hold, 0 Sell.
As of
Analyst Forecasts
AI Analysis — Bull vs Bear
Jio Platforms trades at ₹1,421.6 as of 2026-10-29, implying a market capitalisation of ₹13.60 lakh crore and a trailing P/E of 85.64x. FY26 revenue grew 14.6% year-on-year to ₹1.47 lakh crore with PAT of ~₹30,049 crore, while the subscriber base stood at 533.3 million including 284.9 million 5G users, though total borrowings of ₹70,781 crore and a monthly churn rate of ~1.67% remain areas to watch.
- FY26 revenue grew 14.6% YoY to ₹1,46,885 crore, with EBITDA expanding 38.75% over the preceding two years, indicating strong operating leverage as the 5G build-out matures.
- Subscriber base of 533.3 million with ~60% share of India's wireless data traffic provides scale that is difficult for competitors to replicate; net additions of ~8 million were estimated in Q2 FY27 alone.
- ARPU has risen from ₹181.7 in FY24 to ₹215.6 by June 2026, with brokerage estimates pointing toward ₹218-219.5 in Q2 FY27, demonstrating pricing power without material subscriber loss.
- Capex intensity dropped sharply from 35% of revenue in FY25 to 23% in FY26 — a 36% absolute decline — freeing up significant free cash flow now that the heavy 5G investment cycle is largely behind.
- Net debt fell from ₹48,440 crore in March 2024 to ₹27,579 crore in March 2026, and ~₹27,500 crore of IPO proceeds are earmarked for further debt prepayment, potentially bringing the company close to net-debt-free status.
- 284.9 million 5G subscribers as of June 2026 represent the fastest 5G ramp-up in the country, positioning the platform for higher-value data and enterprise services.
- The stock is trading at ₹1,421.6 versus a 52-week low of ₹1,357, only ~4.6% below its 52-week high of ₹1,489.7, reflecting sustained investor demand since listing.
- A trailing P/E of 85.64x against an EPS of ₹16.6 prices in significant future growth; any miss on ARPU or subscriber targets could trigger a meaningful de-rating.
- Total borrowings stood at ₹70,781 crore as of March 2026 — even after applying ~₹27,500 crore of IPO proceeds, over ₹43,000 crore remains on the balance sheet.
- ROE of 8.92% and ROCE of 8.94% are modest for a company commanding a ₹13.60 lakh crore market cap, suggesting capital is not yet generating returns commensurate with its valuation premium.
- Monthly subscriber churn of ~1.67% implies roughly 8-9 million customers leave every month, requiring continuous acquisition spending to maintain net growth.
- Zero dividend yield as of 2026-10-29 means investors are entirely dependent on capital appreciation, with no income cushion during potential drawdowns.
- Telecom subsidiary Reliance Jio Infocomm contributes 87.34% of consolidated revenue, leaving diversification into digital services still relatively nascent.
- The P/B ratio of 3.58x on book value built largely through heavy capex cycles means any impairment or write-down of network assets would directly erode equity value.
- The stock has traded within a narrow 52-week band of ₹1,357–₹1,489.7 (less than 10% width), indicating limited price discovery so far given the recent listing, which raises the risk of wider volatility as lock-ups expire and free float increases.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Jio Platforms delivered a strong post-listing debut with Q2FY27 showing 13.7% profit growth, 250 bps margin expansion, and 300M 5G subscribers. The balance sheet is rapidly deleveraging (net debt down 79% YoY) and free cash flow is surging as capex intensity normalizes. Key risks include stretched valuations at 43.86x P/E, rising finance costs from 5G capitalization, and significant share lock-in expiries through April 2027. The trend is firmly positive near-term with potential index inclusion and tariff hikes as catalysts, though sustaining premium multiples will require demonstrating superior capital returns.
- Finance costs jumped 40% Oct 30
Finance costs surged 40% to ₹3,009 crore in Q2FY27 due to capitalization of 5G assets in March 2026, weighing on bottom-line growth despite strong operating performance.
- ROCE dipped to 11% Oct 30
Return on capital employed fell to 11.0% from 12.5% YoY as heavy 5G infrastructure investment expanded the capital base faster than earnings. ROCE of 10.8% and RoNW under 10% remain subdued.
- Lock-in expiries ahead Oct 30
Anchor investor lock-ins expire Nov 24 (50%) and Jan 25, 2027 (remaining 50%); pre-IPO shareholders' 299.78 crore shares (32.5% equity) unlock Apr 26, 2027, creating potential supply overhang.
- Strong Q2 earnings, margins expand Nov 2
Q2FY27 net profit rose 13.7% to ₹8,387 crore on revenue of ₹47,485 crore (+11.3% YoY). EBITDA grew 16.6% to ₹21,879 crore with margin expanding 250 bps to 51.7%, and incremental margins hit ~88%.
- 300M 5G users milestone Nov 1
5G subscriber base crossed 300 million (adding 15M in Q2), making Jio the largest 5G operator outside China. Total customer base reached 542.4 million with monthly churn dropping to 1.6%.
- Blockbuster IPO, ₹30,213 crore raised Oct 28
India's largest-ever IPO was subscribed 22-24.5x with ₹7.4 lakh crore demand. Stock listed at ₹1,358 (21.36% premium) and rallied to ₹1,490, gaining 33% from issue price of ₹1,119.
- Comcast, Charter tech licensing talks Nov 4
Jio is in discussions with Comcast and Charter Communications to license its unlicensed band radio (UBR) technology for equity stakes, targeting 10-15 international partnerships.
- India's most widely held stock Oct 28
Jio emerged as India's most widely held stock with 79.6 lakh shareholders post-IPO, up from just 104 pre-IPO. The company became the world's fifth-most valuable telecom at $137.3 billion market cap.
- Akash Ambani signals AI, 6G focus Oct 28
Management outlined next-decade priorities including AI, cloud computing, connected devices, satellite connectivity, and 6G IP development, positioning Jio as an integrated tech platform beyond telecom.
Financial Statements
No financial statements yet
Quarterly results, profit and loss, balance sheet, cash flow and ratios appear here once they are available for this company.
Documents
- General announcements 30 Oct 2026
- General announcements 28 Oct 2026
Frequently Asked Questions about Jio Platforms
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Company Information
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