Reliance Industries Ltd.

•

ril.comBSE: 500325NSE: RELIANCE

Market Cap₹ 17,02,393 Cr.

Current Price

High / Low₹ 1,612 / 1,250

Stock P/E22.8

Book Value₹ 685

Price to Book2.01

Dividend Yield0.48 %

ROCE12.2 %

ROE11.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • O2C: 56.0% • Organized Retail: 31.1% • Others: 6.2%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 17.8% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.08x)
Company has a consistent dividend-paying track record
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Receivables are growing faster than sales - a possible quality concern
Recent results are weak - TTM profit is down 17.4% versus prior year
Company has a low return on capital employed of 11.8%
Though reporting repeated profits, the company pays out little dividend (10.1%)
Expensive relative to growth - PEG of 2.5

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsCrude OilRefineries

Part ofNIFTY 50 NIFTYLARGEMIDCAP250 NIFTY100 LOWVOL30 NIFTY100 EQL WGT NIFTY50 VALUE 20

S.No.	Name
1.	RELIANCE	1258.00	22.78	1702393.37	0.48	23196.00	-24.65	311850.00	25.41	12.17	15.30
2.	IOC	135.25	5.68	190989.75	5.18	-1141.09	-116.76	281933.07	27.08	19.69	1.69
3.	BPCL	304.50	7.71	132107.49	5.75	-1872.70	-127.38	159527.05	23.08	27.09	-2.29
4.	HINDPETRO	351.00	44.69	74686.57	6.91	-12264.67	-398.34	145225.11	21.39	23.10	-11.08
5.	MRPL	175.90	9.81	30828.21	2.27	945.68	449.40	41608.96	98.25	18.12	3.24
6.	CHENNPETRO	1573.70	5.61	23434.19	3.94	1031.35	2671.95	29358.75	57.14	35.15	5.35

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	2,10,831	2,34,956	2,27,970	2,40,715	2,36,217	2,35,481	2,43,865	2,64,573	2,48,660	2,58,898	2,69,496	2,98,621	3,11,850
	1,72,738	1,93,988	1,87,314	1,98,199	1,97,452	1,96,423	2,00,076	2,20,741	2,05,755	2,13,013	2,23,478	2,54,480	2,87,770
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	24,080
OPM %	18.07%	17.44%	17.83%	17.66%	16.41%	16.59%	17.96%	16.57%	17.25%	17.72%	17.08%	14.78%	7.72%
	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
Profit before Tax	24,294	26,493	25,833	27,720	23,234	25,037	28,643	29,103	37,146	29,124	29,697	27,195	30,825
Tax %	25.16%	25.19%	24.56%	23.73%	24.90%	23.71%	23.88%	22.92%	17.40%	23.96%	25.36%	24.19%	24.75%
Net Profit	0	0	0	0	17,445	19,323	21,930	22,611	30,783	22,092	22,290	20,589	23,196
	23.66	25.71	12.76	14.00	11.19	12.24	13.70	14.34	19.95	13.42	13.78	12.54	15.48

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	3,05,382	3,91,677	5,69,209	5,97,535	4,66,924	6,95,963	8,77,835	9,01,064	9,64,693	10,57,219	11,38,865
	2,59,188	3,27,501	4,85,042	5,08,641	3,87,002	5,87,517	7,36,975	7,38,831	7,99,438	8,78,305	9,78,741
Operating Profit	46,194	64,176	84,167	88,894	79,922	1,08,446	1,40,860	1,62,233	1,65,255	1,78,914	1,60,124
OPM %	15.13%	16.38%	14.79%	14.88%	17.12%	15.58%	16.05%	18.00%	17.13%	16.92%	14.06%
	9,443	9,949	8,386	8,835	22,784	17,779	13,036	16,057	18,167	28,997	20,393
Interest	3,849	8,052	16,495	22,027	21,189	14,584	19,571	23,118	24,269	27,061	28,362
Depreciation	11,646	16,706	20,934	22,203	26,572	29,782	40,303	50,832	53,136	57,688	58,946
Profit before Tax	40,034	49,426	55,227	53,606	55,461	82,154	94,046	1,04,340	1,06,017	1,23,162	1,16,841
Tax %	25.48%	27.00%	27.87%	25.61%	3.10%	19.44%	21.67%	24.64%	23.80%	22.37%	24.58%
Net Profit	29,833	36,080	39,837	39,880	53,739	66,184	73,670	78,633	80,787	95,610	88,125
EPS	50.57	60.89	66.80	63.06	75.21	90.86	98.59	102.90	51.47	59.69	—
Dividend Payout %	10.89%	9.85%	9.73%	10.47%	9.18%	8.92%	9.13%	9.72%	10.69%	10.05%	—

COMPOUNDED SALES GROWTH

10 Years:: 14%
5 Years:: 18%
3 Years:: 6%

COMPOUNDED PROFIT GROWTH

10 Years:: 11%
5 Years:: 10%
3 Years:: 7%

STOCK PRICE CAGR

10 Years:: 17%
5 Years:: 1%
3 Years:: 1%
1 Year:: -9%

RETURN ON EQUITY

10 Years:: 11%
5 Years:: 10%
3 Years:: 10%
Last Year:: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	2,959	5,922	5,926	6,339	6,445	6,765	6,766	6,766	13,532	13,532
Minority Interest	2,917	3,539	8,280	12,181	99,260	1,09,499	1,13,009	1,32,307	1,66,426	1,81,836
	2,60,730	2,87,557	3,81,177	4,42,808	6,53,147	7,72,286	7,08,460	7,85,935	8,28,878	8,89,825
	2,13,142	2,16,163	3,05,120	3,30,524	2,70,168	3,03,335	4,07,682	4,27,475	4,59,637	5,09,481
Trade Payables	76,595	1,06,861	1,08,309	96,799	1,08,897	1,59,330	1,47,172	1,78,377	1,86,789	1,58,842
	1,50,459	1,91,231	1,88,818	2,74,364	1,82,148	1,47,407	2,22,793	2,24,188	2,94,451	4,24,030
Total Liabilities	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
	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
Capital Work in Progress	2,50,377	1,66,220	1,50,178	59,096	71,171	68,052	1,17,259	1,52,382	1,69,710	1,92,287
	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
	48,951	60,837	67,561	73,903	81,672	1,07,778	1,40,008	1,52,770	1,46,062	1,66,941
	0	0	0	0	0	0	0	31,628	42,121	58,491
Cash & Bank	3,023	4,255	11,081	30,920	17,397	36,178	68,664	97,225	1,06,502	1,45,977
	1,23,026	93,214	1,34,801	1,89,671	2,43,739	2,64,552	3,19,586	3,15,386	2,43,544	2,40,723
Total Assets	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

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	59,633	81,303	54,537	1,03,263	30,171	1,14,451	1,21,329	1,58,788	1,78,703	1,92,113
Cash from Investing	-66,292	-68,290	-95,128	-72,520	-1,42,409	-1,10,103	-91,235	-1,13,581	-1,37,535	-1,01,089
Cash from Financing	8,617	-2,001	55,906	-2,541	1,01,904	17,289	10,455	-16,646	-31,891	-51,549
	-8,125	1,168	3,124	19,816	-13,547	17,840	34,252	28,561	9,277	39,475

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
50.33	50.24	50.13	50.11	50.07	50.01	50.01	50.00	50.48
21.74	21.29	19.15	19.06	19.20	18.64	19.08	18.66	17.19
17.30	17.56	18.98	19.33	19.72	20.25	20.10	20.46	21.10
0.11	0.11	0.10	0.09	0.09	0.09	0.09	0.09	0.09
10.43	10.71	11.55	11.31	10.83	10.91	10.63	10.69	11.04

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Please note that the Company executives will be participating in the Institutional Investors' Meeting -Jefferies India Forum 2026, scheduled to be held on September 17, 2026 at Gurgaon. It is expected that the meeting with the investors will be on one-on-one basis.

2026-09-10

Updates

2026-09-10 - This is further to the disclosure dated September 7, 2026 made by the Company. We wish to inform you that the Company executives participated in the Institutional Investors' Meeting - UBS India Summit 2026 and no unpublished price sensitive information was shared/discussed in the said one-on-one meeting.

2026-09-09

Credit Rating

2026-09-09 - Reliance Industries Limited has informed the Exchange about Credit Rating

2026-09-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Please note that the Company executives will be participating in the Institutional Investors' Meeting - UBS India Summit 2026, scheduled to be held on September 10, 2026 at Mumbai. It is expected that the meeting with the investors will be on one-on-one basis.

2026-09-05

Other Restructuring

2026-09-05 - Roptonal Limited (Roptonal), a step-down subsidiary of the Company, stands dissolved with effect from August 18, 2026, as per the certificate dated September 4, 2026 issued by the Department of Insolvency, Republic of Cyprus.

2026-08-28

Updates

2026-08-28 - Media Statement

2026-08-28

Updates

2026-08-28 - Observation Letter on the Draft Red Herring Prospectus for the proposed Initial Public Offer of Jio Platforms Limited

2026-08-21

Amendment to AOA/MOA

2026-08-21 - Reliance Industries Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.

2026-08-21

Shareholders meeting

2026-08-21 - The voting results in the format prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 along with the Scrutiniser's Report on remote e-voting, for Postal Ballot notice dated July 17, 2026, are attached.

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Name

RELIANCE

1258.00

22.78

1702393.37

0.48

23196.00

-24.65

311850.00

25.41

12.17

15.30

IOC

135.25

5.68

190989.75

5.18

-1141.09

-116.76

281933.07

27.08

19.69

1.69

BPCL

304.50

7.71

132107.49

5.75

-1872.70

-127.38

159527.05

23.08

27.09

-2.29

HINDPETRO

351.00

44.69

74686.57

6.91

-12264.67

-398.34

145225.11

21.39

23.10

-11.08

MRPL

175.90

9.81

30828.21

2.27

945.68

449.40

41608.96

98.25

18.12

3.24

CHENNPETRO

1573.70

5.61

23434.19

3.94

1031.35

2671.95

29358.75

57.14

35.15

5.35

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

2,10,831

2,34,956

2,27,970

2,40,715

2,36,217

2,35,481

2,43,865

2,64,573

2,48,660

2,58,898

2,69,496

2,98,621

3,11,850

1,72,738

1,93,988

1,87,314

1,98,199

1,97,452

1,96,423

2,00,076

2,20,741

2,05,755

2,13,013

2,23,478

2,54,480

2,87,770

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

24,080

OPM %

18.07%

17.44%

17.83%

17.66%

16.41%

16.59%

17.96%

16.57%

17.25%

17.72%

17.08%

14.78%

7.72%

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

Profit before Tax

24,294

26,493

25,833

27,720

23,234

25,037

28,643

29,103

37,146

29,124

29,697

27,195

30,825

Tax %

25.16%

25.19%

24.56%

23.73%

24.90%

23.71%

23.88%

22.92%

17.40%

23.96%

25.36%

24.19%

24.75%

Net Profit

17,445

19,323

21,930

22,611

30,783

22,092

22,290

20,589

23,196

23.66

25.71

12.76

14.00

11.19

12.24

13.70

14.34

19.95

13.42

13.78

12.54

15.48

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

3,05,382

3,91,677

5,69,209

5,97,535

4,66,924

6,95,963

8,77,835

9,01,064

9,64,693

10,57,219

11,38,865

2,59,188

3,27,501

4,85,042

5,08,641

3,87,002

5,87,517

7,36,975

7,38,831

7,99,438

8,78,305

9,78,741

Operating Profit

46,194

64,176

84,167

88,894

79,922

1,08,446

1,40,860

1,62,233

1,65,255

1,78,914

1,60,124

OPM %

15.13%

16.38%

14.79%

14.88%

17.12%

15.58%

16.05%

18.00%

17.13%

16.92%

14.06%

9,443

9,949

8,386

8,835

22,784

17,779

13,036

16,057

18,167

28,997

20,393

Interest

3,849

8,052

16,495

22,027

21,189

14,584

19,571

23,118

24,269

27,061

28,362

Depreciation

11,646

16,706

20,934

22,203

26,572

29,782

40,303

50,832

53,136

57,688

58,946

Profit before Tax

40,034

49,426

55,227

53,606

55,461

82,154

94,046

1,04,340

1,06,017

1,23,162

1,16,841

Tax %

25.48%

27.00%

27.87%

25.61%

3.10%

19.44%

21.67%

24.64%

23.80%

22.37%

24.58%

Net Profit

29,833

36,080

39,837

39,880

53,739

66,184

73,670

78,633

80,787

95,610

88,125

EPS

50.57

60.89

66.80

63.06

75.21

90.86

98.59

102.90

51.47

59.69

—

Dividend Payout %

10.89%

9.85%

9.73%

10.47%

9.18%

8.92%

9.13%

9.72%

10.69%

10.05%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

2,959

5,922

5,926

6,339

6,445

6,765

6,766

13,532

Minority Interest

2,917

3,539

8,280

12,181

99,260

1,09,499

1,13,009

1,32,307

1,66,426

1,81,836

2,60,730

2,87,557

3,81,177

4,42,808

6,53,147

7,72,286

7,08,460

7,85,935

8,28,878

8,89,825

2,13,142

2,16,163

3,05,120

3,30,524

2,70,168

3,03,335

4,07,682

4,27,475

4,59,637

5,09,481

Trade Payables

76,595

1,06,861

1,08,309

96,799

1,08,897

1,59,330

1,47,172

1,78,377

1,86,789

1,58,842

1,50,459

1,91,231

1,88,818

2,74,364

1,82,148

1,47,407

2,22,793

2,24,188

2,94,451

4,24,030

Total Liabilities

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

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

Capital Work in Progress

2,50,377

1,66,220

1,50,178

59,096

71,171

68,052

1,17,259

1,52,382

1,69,710

1,92,287

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

48,951

60,837

67,561

73,903

81,672

1,07,778

1,40,008

1,52,770

1,46,062

1,66,941

31,628

42,121

58,491

Cash & Bank

3,023

4,255

11,081

30,920

17,397

36,178

68,664

97,225

1,06,502

1,45,977

1,23,026

93,214

1,34,801

1,89,671

2,43,739

2,64,552

3,19,586

3,15,386

2,43,544

2,40,723

Total Assets

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

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

59,633

81,303

54,537

1,03,263

30,171

1,14,451

1,21,329

1,58,788

1,78,703

1,92,113

Cash from Investing

-66,292

-68,290

-95,128

-72,520

-1,42,409

-1,10,103

-91,235

-1,13,581

-1,37,535

-1,01,089

Cash from Financing

8,617

-2,001

55,906

-2,541

1,01,904

17,289

10,455

-16,646

-31,891

-51,549

-8,125

1,168

3,124

19,816

-13,547

17,840

34,252

28,561

9,277

39,475

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

50.33

50.24

50.13

50.11

50.07

50.01

50.00

50.48

21.74

21.29

19.15

19.06

19.20

18.64

19.08

18.66

17.19

17.30

17.56

18.98

19.33

19.72

20.25

20.10

20.46

21.10

0.11

0.10

0.09

10.43

10.71

11.55

11.31

10.83

10.91

10.63

10.69

11.04

Reliance Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

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Reliance Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI