Reliance logo

Reliance

RELIANCE NSE

Key Fundamentals

LargecapRefineries & MarketingPetroleum Products
Market Cap
17.0L Cr
Volatility
Moderate
P/E Ratio
22.77
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

Tapetide Score

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

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% higher than 3Y
Net Income Growth
18.35% higher than 3Y
Cash Flow Change
7.5% lower than 3Y
ROE
10% higher than 3Y
ROCE
5.4% higher than 3Y
EBITDA Margin (Avg.)
2.52% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2d ago
AI opinion · based on fundamentals
Risk medium

Reliance Industries commands a market cap of ₹17.05 lakh crore with a PE of 19.6x and has delivered 15% TTM sales growth, though compounded profit growth has flattened to 0% on a TTM basis. ROE has remained steady at 9% across 3, 5, and 10-year periods, while the stock has returned just 1% CAGR over 3 years and declined 8% over the past year.

Bull Case 7
  • Massive scale with a market cap of ₹17,04,559 crore, providing significant competitive moat and access to capital across energy, telecom, and retail verticals
  • TTM sales growth of 15% indicates robust top-line momentum despite a challenging macro environment
  • 10-year compounded sales CAGR of 15% and profit CAGR of 10% reflect a long track record of consistent revenue and earnings expansion
  • 5-year compounded profit growth of 12% outpaces many large-cap peers in the petroleum products sector
  • PE of 19.6x is moderate for a diversified conglomerate with exposure to high-growth digital and retail segments
  • 10-year stock CAGR of 18% demonstrates sustained long-term wealth creation for shareholders
  • Price-to-book of 1.91x suggests the stock is not at extreme valuation levels relative to its asset base
Bear Case 8
  • ROE has stagnated at 9% across 1, 3, 5, and 10-year periods — well below the 15%+ threshold typically expected of quality large caps
  • TTM compounded profit growth has dropped to 0%, signaling margin pressure or rising costs despite 15% sales growth
  • Stock has declined 8% over the past 1 year, underperforming broader market indices
  • 3-year stock CAGR of just 1% indicates prolonged stagnation in shareholder returns
  • Dividend payout ratio of only 10.2% of profits over the last 3 years, with a yield of just 0.47%, offers minimal income to shareholders
  • 3-year compounded sales growth of only 6% suggests the high-growth phase may be normalizing
  • 3-year compounded profit growth of 5% lags significantly behind the 10-year average of 10%, pointing to a deceleration trend
  • Low ROE of 8.77% over the last 3 years raises questions about capital allocation efficiency given the scale of ongoing investments

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 2
  • Essel Group media allegations dispute Aug 28

    Subhash Chandra alleged Reliance media entities ran a 'witch hunt' against him, claiming associates orchestrated a 40% crash in Zee's share price in January 2019. Reliance categorically denied the claims as 'baseless', but the public spat adds reputational noise amid Chandra's ₹22,006 crore insolvency proceedings.

  • MSCI rebalancing triggers $550M outflow Aug 31

    Reliance Industries faced a USD 550M (₹52.49B) passive fund outflow during the MSCI August rebalancing on August 31, reflecting index-tracking fund adjustments that create near-term selling pressure on the stock.

Positives 4
  • SEBI approves Jio's $3.8B IPO Aug 28

    SEBI approved Jio Platforms' $3.8 billion IPO (27 crore fresh shares, ~2.9% equity), potentially India's largest listing. Roughly $3.3B will repay Jio Infocomm debt, improving RIL's debt-to-equity from 0.44 to ~0.41, while analysts estimate Jio's standalone valuation near $180B at 40-46x P/E.

  • Bombay Creamery ice cream launch Sep 1

    RCPL launched Bombay Creamery, Reliance's entry into India's ice cream market with prices starting at ₹10 — half of Amul's cheapest stick at ₹20. Initial rollout in western India with pan-India expansion planned, replicating the aggressive ₹10 Campa Cola pricing strategy that disrupted the cola market.

  • $1.3B local bond raise planned Sep 8

    Reliance Industries plans to raise up to $1.3 billion through local currency bonds, potentially the largest domestic bond deal of 2026, strengthening its capital-raising flexibility in Indian debt markets.

  • ₹2.73 lakh crore coal gasification project Aug 20

    Reliance proposed a ₹2.73 lakh crore, 30-year underground coal gasification complex in Andhra Pradesh's Eluru district, which would make it India's first such facility and pioneer a new energy conversion technology.

Neutral 2
  • Investor conference participation Sep 11

    Reliance executives are attending multiple investor forums — Jefferies India Forum (Sep 17, Gurgaon), UBS India Summit (Sep 10, Mumbai), and Motilal Oswal Global Investor Conference (Aug 18, Mumbai) — with no unpublished price-sensitive information shared at any event.

  • Exploring aluminium via Odisha auction Aug 25

    Reliance joined an Odisha bauxite block auction, signaling a potential entry into the aluminium sector. No financial details or timelines have been disclosed yet.

TL;DR: Reliance Industries is in a strategically strong position with SEBI's approval of Jio Platforms' $3.8B IPO unlocking standalone valuation discovery and meaningful debt reduction. The FMCG push via Bombay Creamery's aggressive ₹10 pricing and the massive ₹2.73 lakh crore coal gasification proposal show continued diversification ambition. Key risks are limited to reputational noise from the Essel Group dispute and near-term passive outflows from MSCI rebalancing. The overall trend is improving, with Jio's IPO representing a potential catalyst for re-rating as the conglomerate transitions toward independently valued business units.

Quarterly Results

Particulars 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

Particulars 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

Particulars 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

Particulars 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

Particulars 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%

Insights

Beta

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

Log in to view Reliance insights

62 extracted metrics + investor summaries across FY01–FY27.

Log in — free

Shareholding Pattern

Others2.46%Govt.0.17%Promot.50.48%Public8.58%FIIs17.20%DIIs21.12%As ofJun 2026

Documents

Frequently Asked Questions about Reliance

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 trades as RELIANCE on the NSE and under code 500325 on the BSE.
Which sector does Reliance Industries Ltd belong to?
Reliance Industries Ltd is classified under the Petroleum Products sector, in the Refineries & Marketing industry.
What is the market capitalisation of Reliance Industries Ltd?
Reliance Industries Ltd has a market capitalisation of ₹17,04,559 Cr, which places it in the Large Cap band.
What is the PE ratio of Reliance Industries Ltd?
Reliance Industries Ltd trades at a PE ratio of 22.77, on earnings per share of ₹101.61, against a book value of ₹668.04 per share.
What is the 52-week high and low of Reliance Industries Ltd?
Over the last 52 weeks Reliance Industries Ltd has traded between ₹1,249.8 and ₹1,611.8.
Does Reliance Industries Ltd pay dividends?
Reliance Industries Ltd has a dividend yield of 0.47%.
What is the Return on Equity (ROE) of Reliance Industries Ltd?
Reliance Industries Ltd reported a return on equity of 8.80%. Its debt-to-equity ratio is 0.45.

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

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/RELIANCE.md for Reliance Industries Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Petroleum Products → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List