Reliance Industries Ltd (RELIANCE) — Share Price, Financials & Ratios

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products

Market Cap

18.8L Cr

Volatility

Moderate

P/E Ratio

18.6

EBITDA

1.8L Cr

Return on Equity

8.54%

Debt to Equity

0.44

Book Value

₹648.28

EPS

₹101.61

52W High

₹1,611.8

52W Low

₹1,114.85

Technical Indicators

Key Insights

▼

Weaknesses

3

The company has delivered a poor sales growth of 10.0% over past five years.
Company has a low return on equity of 8.79% over last 3 years.
Dividend payout has been low at 9.84% of profits over last 3 years

Growth Rate

Revenue Growth

7.15% ↗

Net Income Growth

2.74% ↗

Cash Flow Change

12.54% ↗

ROE

-5.77% ↘

ROCE

-7.14% ↘

EBITDA Margin (Avg.)

-3.96% ↘

Quarterly Results

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Depreciation	10,183	11,452	11,775	12,585	12,903	13,569	13,596	12,880	13,181	13,479	13,842	14,416	14,622
EPS in Rs	11.67	14.26	11.83	12.85	12.76	14.01	11.19	12.24	13.7	14.34	19.95	13.42	13.78
Expenses	1,81,728	1,74,478	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
Interest	5,201	5,819	5,837	5,731	5,789	5,761	5,918	6,017	6,179	6,155	7,036	6,827	6,613
Net Profit	17,806	21,327	18,258	19,878	19,641	21,243	17,445	19,323	21,930	22,611	30,783	22,092	22,290
OPM %	16%	18%	18%	18%	18%	18%	17%	17%	18%	17%	18%	18%	17%
Operating Profit	35,009	38,356	38,093	40,968	40,656	42,516	38,765	39,058	43,789	43,832	42,905	45,885	46,018
Other Income	3,377	2,996	3,813	3,841	3,869	4,534	3,983	4,876	4,214	4,905	15,119	4,482	4,914
Profit before tax	23,002	24,081	24,294	26,493	25,833	27,720	23,234	25,037	28,643	29,103	37,146	29,124	29,697
Sales	2,16,737	2,12,834	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
Tax %	23%	11%	25%	25%	25%	24%	25%	24%	24%	23%	17%	24%	25%

Profit & Loss

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Depreciation	11,201	11,547	11,565	11,646	16,706	20,934	22,203	26,572	29,782	40,303	50,832	53,136	56,359
Dividend Payout %	12%	12%	10%	11%	10%	10%	10%	9%	9%	9%	10%	11%	—
EPS in Rs	16.31	17.07	21.51	21.55	26.69	29.28	29.1	38.75	44.87	49.29	51.45	51.47	61.49
Expenses	3,98,586	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	8,45,908
Interest	3,836	3,316	3,691	3,849	8,052	16,495	22,027	21,189	14,584	19,571	23,118	24,269	26,631
Net Profit	22,548	23,640	29,861	29,833	36,080	39,837	39,880	53,739	67,845	74,088	79,020	81,309	97,776
OPM %	8%	10%	15%	15%	16%	15%	15%	17%	16%	16%	18%	17%	17%
Operating Profit	34,935	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	1,78,640
Other Income	8,865	8,528	12,212	9,222	9,869	8,406	8,570	22,432	19,600	12,020	15,792	17,824	29,420
Profit before tax	28,763	31,114	38,737	40,034	49,426	55,227	53,606	55,461	83,815	94,464	1,04,340	1,06,017	1,25,070
Sales	4,33,521	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	10,24,548
Tax %	22%	24%	23%	25%	27%	28%	26%	3%	19%	22%	25%	24%	—

Balance Sheet

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Borrowings	1,38,761	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	3,74,593
CWIP	91,494	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	2,17,097
Equity Capital	2,940	2,943	2,948	2,959	5,922	5,926	6,339	6,445	6,765	6,766	6,766	13,532	13,532
Fixed Assets	1,41,417	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	10,96,375
Investments	60,602	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	2,56,335
Other Assets	1,35,330	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	4,69,139
Other Liabilities	91,395	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	7,87,073
Reserves	1,95,747	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	8,63,748
Total Assets	4,28,843	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	20,38,946
Total Liabilities	4,28,843	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	20,38,946

Cash Flow

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Financing Activity	13,713	8,444	-3,210	8,617	-2,001	55,906	-2,541	1,01,904	17,289	10,455	-16,646	-31,891
Cash from Investing Activity	-73,070	-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
Cash from Operating Activity	43,261	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
Net Cash Flow	-16,096	-21,888	-1,262	-8,034	1,266	3,745	19,839	-13,523	18,781	32,486	28,561	9,277

Ratios

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash Conversion Cycle	4	-2	-21	-38	-46	-18	-9	-19	-27	7	-3	-8
Days Payable	61	74	117	132	146	100	87	136	123	91	111	108
Debtor Days	8	5	6	10	16	19	12	15	12	12	13	16
Inventory Days	57	66	90	84	83	63	67	102	83	87	95	85
ROCE %	10%	9%	10%	10%	11%	12%	11%	8%	8%	9%	10%	10%
Working Capital Days	-30	-64	-148	-179	-179	-108	-158	-58	-56	-66	-53	-68

Shareholding Pattern

20.1%

19.1%

50.0%

10.6%

DIIs: 20.10% FIIs: 19.09% Government: 0.17% Promoters: 50.00% Public: 10.64%

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
DIIs	16.06%	16.13% ↑0.1	15.99% ↓0.1	16.59% ↑0.6	16.98% ↑0.4	17.30% ↑0.3	17.61% ↑0.3	19.02% ↑1.4	19.36% ↑0.3	19.72% ↑0.4	20.25% ↑0.5	20.10% ↓0.1
FIIs	22.49%	22.55% ↑0.1	22.60% ↑0.1	22.13% ↓0.5	22.06% ↓0.1	21.75% ↓0.3	21.30% ↓0.4	19.16% ↓2.1	19.07% ↓0.1	19.21% ↑0.1	18.65% ↓0.6	19.09% ↑0.4
Government	0.16%	0.17% ↑0.0	0.17%	0.18%	0.19% ↑0.0	0.19%	0.19%	0.18% ↓0.0	0.17%	0.17%	0.17%	0.17%
Promoters	50.41%	50.39% ↓0.0	50.27% ↓0.1	50.30% ↑0.0	50.31% ↑0.0	50.33% ↑0.0	50.24% ↓0.1	50.13% ↓0.1	50.10% ↓0.0	50.07% ↓0.0	50.01% ↓0.1	50.00%
Public	10.89%	10.76% ↓0.1	10.98% ↑0.2	10.80% ↓0.2	10.46% ↓0.3	10.43% ↓0.0	10.67% ↑0.2	11.52% ↑0.8	11.29% ↓0.2	10.84% ↓0.4	10.92% ↑0.1	10.64% ↓0.3
No. of Shareholders	36,39,396	35,06,867	36,98,648	36,13,814	34,63,276	34,93,125	38,34,968	47,14,959	47,65,728	44,35,756	43,93,764	42,06,159

20.1%

19.1%

50.0%

10.6%

DIIs: 20.10% FIIs: 19.09% Government: 0.17% Promoters: 50.00% Public: 10.64%

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
DIIs	11.85%	11.23% ↓0.6	11.86% ↑0.6	13.78% ↑1.9	12.62% ↓1.2	14.23% ↑1.6	16.06% ↑1.8	16.98% ↑0.9	19.36% ↑2.4	20.10% ↑0.7
FIIs	22.58%	24.46% ↑1.9	24.39% ↓0.1	24.08% ↓0.3	25.66% ↑1.6	24.23% ↓1.4	22.49% ↓1.7	22.06% ↓0.4	19.07% ↓3.0	19.09% ↑0.0
Government	0.14%	0.15%	0.18% ↑0.0	0.20% ↑0.0	0.20%	0.17% ↓0.0	0.16% ↓0.0	0.19% ↑0.0	0.17% ↓0.0	0.17%
Promoters	46.32%	47.45% ↑1.1	47.27% ↓0.2	50.07% ↑2.8	50.58% ↑0.5	50.66% ↑0.1	50.41% ↓0.3	50.31% ↓0.1	50.10% ↓0.2	50.00% ↓0.1
Public	19.12%	16.72% ↓2.4	16.29% ↓0.4	11.87% ↓4.4	10.94% ↓0.9	10.71% ↓0.2	10.89% ↑0.2	10.46% ↓0.4	11.29% ↑0.8	10.64% ↓0.6
No. of Shareholders	25,01,302	22,66,000	22,11,231	26,32,168	30,31,272	33,27,847	36,39,396	34,63,276	47,65,728	42,06,159