Reliance Industrial Infrastructure Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Product Transportation Services: 73.3% • Infrastructure Support Services: 25.6% • Others: 1.1%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Company has been maintaining a healthy dividend payout of 51.2%
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (164.7% of PBT)
- Company has a low return on capital employed of 3.3%
- Company has a low return on equity of 2.4% over last 3 years
- Interest coverage is weak at 0.0x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| CONCOR | 509.50 | 31.24 | 38804.43 | 1.69 | 268.90 | 0.61 | 2159.76 | 0.28 | 13.63 | 20.41 |
| DELHIVERY | 450.60 | 360.91 | 33757.46 | 0.00 | 31.91 | -64.96 | 2930.73 | 27.76 | 2.97 | 4.75 |
| SHADOWFAX | 251.35 | 132.02 | 14747.47 | 0.00 | 654.00 | 6732.86 | 13581.20 | 1806.32 | 11.58 | 6.76 |
| BLACKBUCK | 581.20 | 62.72 | 10587.56 | 0.00 | 42.17 | 25.14 | 204.17 | 42.17 | 12.75 | 24.35 |
| TCI | 868.00 | 14.61 | 6668.94 | 1.15 | 106.60 | -0.56 | 1248.50 | 9.58 | 20.52 | 12.30 |
| TVSSCS | 124.75 | 84.99 | 5504.27 | 0.00 | 22.48 | -96.84 | 3335.22 | 28.66 | 11.51 | 6.75 |
| VRLLOG | 231.45 | 18.90 | 4048.92 | 0.00 | 805.30 | 1509.31 | 8788.40 | 1080.70 | 26.47 | 21.23 |
| MAHLOG | 402.05 | 103.73 | 3991.45 | 0.62 | 278.30 | 3048.09 | 20028.80 | 1132.85 | 10.40 | 5.76 |
| SINDHUTRAD | 24.89 | 49.59 | 3837.86 | 0.00 | 38.74 | -79.39 | 129.21 | -21.85 | 12.80 | 45.34 |
| GATEWAY | 53.43 | 10.93 | 2669.60 | 6.08 | 51.27 | -17.56 | 549.30 | -0.21 | 17.99 | 21.31 |
| TCIEXP | 539.65 | 25.16 | 2074.64 | 1.30 | 20.49 | 5.24 | 313.40 | 9.29 | 13.92 | 10.03 |
| RIIL | 724.75 | 90.22 | 1094.37 | 0.48 | 2.84 | -8.39 | 8.64 | -30.66 | 3.01 | -34.14 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 14 | 14 | 15 | 15 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 8 | 9 | |
| 17 | 16 | 16 | 16 | 15 | 15 | 15 | 16 | 14 | 14 | 15 | 10 | 12 | |
| Operating Profit | -2 | -1 | -1 | -2 | -3 | -3 | -3 | -4 | -2 | -2 | -2 | -1 | -4 |
| OPM % | -16.05% | -9.19% | -5.69% | -11.78% | -21.03% | -23.20% | -23.54% | -28.34% | -15.97% | -17.26% | -19.17% | -14.83% | -41.20% |
| 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 5 | 6 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 3 | 5 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 3 |
| Tax % | 33.64% | 45.25% | 34.94% | 26.79% | 20.98% | 16.78% | 16.22% | 1.96% | 26.22% | 26.50% | 23.82% | 29.73% | 5.51% |
| Net Profit | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 |
| 1.42 | 1.64 | 1.80 | 1.90 | 1.60 | 1.61 | 1.64 | 1.66 | 1.70 | 1.71 | 1.72 | 1.72 | 1.70 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 93 | 89 | 85 | 80 | 54 | 65 | 68 | 58 | 49 | 45 | 42 | |
| 74 | 73 | 74 | 72 | 49 | 62 | 65 | 64 | 61 | 53 | 51 | |
| Operating Profit | 19 | 16 | 11 | 7 | 5 | 4 | 3 | -6 | -12 | -8 | -9 |
| OPM % | 20.45% | 18.42% | 12.96% | 9.21% | 9.79% | 5.64% | 4.17% | -10.59% | -24.05% | -16.97% | -22.31% |
| 16 | 13 | 15 | 16 | 16 | 16 | 21 | 25 | 25 | 23 | 24 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 14 | 14 | 14 | 14 | 13 | 10 | 6 | 3 | 1 | 1 | 1 |
| Profit before Tax | 20 | 15 | 12 | 9 | 8 | 10 | 18 | 16 | 11 | 14 | 13 |
| Tax % | 18.91% | 35.64% | 35.06% | 14.40% | 4.66% | 23.76% | 12.26% | 35.58% | 14.37% | 26.63% | 22.43% |
| Net Profit | 16 | 10 | 8 | 8 | 8 | 8 | 16 | 10 | 10 | 10 | 10 |
| EPS | 10.87 | 6.45 | 5.16 | 5.25 | 5.10 | 5.00 | 10.32 | 6.76 | 6.51 | 6.84 | — |
| Dividend Payout % | 32.19% | 54.26% | 58.15% | 57.15% | 58.82% | 59.94% | 33.92% | 51.76% | 53.76% | 51.16% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -7%
- 5 Years:
- -4%
- 3 Years:
- -13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -4%
- 5 Years:
- 6%
- 3 Years:
- -13%
STOCK PRICE CAGR
- 10 Years:
- 5%
- 5 Years:
- 1%
- 3 Years:
- -11%
- 1 Year:
- -22%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 3%
- 3 Years:
- 2%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 298 | 308 | 323 | 321 | 361 | 383 | 377 | 415 | 403 | 413 | |
| Trade Payables | 15 | 19 | 15 | 23 | 15 | 14 | 26 | 36 | 52 | 28 |
| 34 | 33 | 31 | 26 | 25 | 26 | 23 | 29 | 25 | 30 | |
| Total Liabilities | 361 | 375 | 385 | 385 | 417 | 438 | 441 | 495 | 495 | 486 |
| 102 | 89 | 78 | 64 | 53 | 43 | 37 | 29 | 27 | 26 | |
| Capital Work in Progress | 5 | 6 | 4 | 3 | 2 | 2 | 0 | 0 | 0 | 0 |
| 214 | 231 | 260 | 266 | 315 | 355 | 229 | 279 | 264 | 276 | |
| 2 | 2 | 3 | 2 | 2 | 2 | 0 | 0 | 0 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 6 | 3 | |
| Cash & Bank | 3 | 2 | 2 | 3 | 1 | 2 | 1 | 1 | 1 | 1 |
| 36 | 45 | 39 | 46 | 44 | 35 | 174 | 182 | 196 | 180 | |
| Total Assets | 361 | 375 | 385 | 385 | 417 | 438 | 441 | 495 | 495 | 486 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 34 | 20 | 22 | 5 | -1 | 8 | 28 | 2 | -3 | -36 | |
| Cash from Investing | -19 | -7 | -7 | 5 | 7 | -1 | -19 | 3 | 9 | 41 |
| Cash from Financing | -6 | -6 | -6 | -6 | -5 | -5 | -5 | -5 | -5 | -5 |
| 1 | -1 | -0 | 1 | -2 | 0 | -0 | -0 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-10 - Newspaper clippings Special Window for transfer and dematerialisation (demat) of physical shares: The newspaper clippings of the advertisement on the captioned subject published today i.e., August 10, 2026 in the newspapers viz., Financial Express (English) and Navshakti (Marathi) are enclosed for information and records.
2026-07-15 - Reliance Industrial Infrastructure Limited has informed the Exchange regarding a Press Release dated July 15, 2026
2026-07-15 - Reliance Industrial Infrastructure Limited has informed the Exchange regarding Unaudited Financial Results (Consolidated and Standalone) for the quarter ended June 30, 2026
2026-06-30 - Reliance Industrial Infrastructure Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-24 - The Voting results along with the consolidated Scrutiniser's Report in respect of the Thirty-eighth Annual General Meeting of the Company held on Wednesday, June 24, 2026, are attached.
2026-06-24 - Gist of the proceedings of the Thirty-eighth Annual General Meeting of the Company held on Wednesday, June 24, 2026, is attached.
2026-06-17 - Reliance Industries Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-06-10 - "Newspaper clippings Special Window for transfer and dematerialisation (demat) of physical shares": The newspaper clippings of the advertisement on the captioned subject published today i.e., June 10, 2026 in the newspapers viz. Financial Express (English) and Navshakti (Marathi) are enclosed for information and records
2026-06-01 - This is to inform you that the advertisement on the captioned subject has been published today i.e., June 1, 2026 in the newspapers viz., Financial Express (English) and Navshakti (Marathi). The newspaper clippings are enclosed for your information and records.
News
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