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Reliance Industries Ltd.
RELIANCELarge CapNSEBSE
Energy · Oil Gas & Consumable Fuels
₹1,287.00up 4.80up 0.37 percentas of 28 Aug 2026
Book value ₹670.31Div yield 0.47%
Key metrics
- Market Cap
- 17,38,119.27 ₹ cr
- P/E
- 21.48 x
- P/B
- 1.92 x
- ROE
- 32.90%
- ROCE
- 43.65%
- Debt to Equity
- 0.26 x
- Net Margin
- 8.47%
- Dividend Yield
- 0.47%
- Revenue Growth (YoY)
- 25.41%
Observations
Mechanical observations generated from stored data, not analysis or opinion. Each one names the threshold that produced it — the ROCE check below uses 20%, a fixed default rather than a value tailored to this company.
- ROCE below 20% in each of the last 3 financial years (2023-2024, 2024-2025, 2025-2026).
- Revenue grew year-on-year in each of the last 3 years.
- Net margin declined year-on-year in 1 of the last 3 years.
- Promoter holding 50.5% (pledge data not available).
- Debt-to-equity 0.26 — below the Oil Gas & Consumable Fuels median of 0.48.
RELIANCE
₹1,287.00up 0.37 percent
EOD Synced: 28 Aug 2026 18:30 ISTOverview & Live Price Chart
Executive Investment Verdict & Quality Synthesis
Autonomous V2Multi-dimensional quantitative synthesis across capital efficiency, forensic accounting, intrinsic valuation, and ownership governance.
Factual Quantitative Consensus
1. Capital Efficiency & MoatCapital Intensive
7.41%ROCE
ROE: 8.94%·P/B: 1.92x
2. Forensic Health & SolvencyPiotroski 6/9 · Adequate Health
6/9Piotroski Score
Altman: 2.4 (Grey Zone)
3. Valuation & DCF Spread-55.5% Valuation Premium
₹573DCF Fair Value
CMP: ₹1,287.0
4. Ownership & GovernanceClean Promoter Holding
50.48%Promoter Stake
Pledged: 0.0%·Inst: 27.30%
Institutional Factor Scores
QVGM Factor Grade Matrix
Institutional Multi-Factor Profile (QVGM)
Composite 0–100 percentile ranks normalized across all 500 universe constituents
Rank #4 of 16 in EnergyQVGM 56/100
Quality (Q)84
ROE, ROCE, Margins & Cash Conversion
Value (V)67
P/E, P/B, EV/EBITDA vs Sector Benchmarks
Growth (G)32
3Y Sales & EPS Compounded Growth
Momentum (M)30
Relative Strength & Trend Position
TheScreener Radar™ 5-Pillar Quantitative Scorecard
Holistic quantitative radar evaluating fundamental quality, valuation multiples, balance sheet health, growth, and price momentum
Sector Rank:Rank #4 of 16 in Energy
Valuation
Moderate67/100
P/E Ratio:21.48x
P/B Ratio:1.92x
Dividend Yield:0.47%
P/E, P/B, EV/EBITDA & Dividend Yield relative to 5Y medians and sector
Growth
Weak32/100
3Y Sales CAGR:—
3Y PAT CAGR:—
Quarterly YoY:+12.4%
3-Year Compounded Sales & Net Profit Growth trajectory
Profitability
Strong84/100
ROE:8.9%
ROCE:7.4%
OPM %:—
Return on Equity (ROE), ROCE & Operating Margin efficiency
Solvency & Health
Moderate67/100
Piotroski F-Score:6/9
Altman Z-Score:2.42
Debt / Equity:0.00
Balance Sheet strength, Altman Z-Score & Piotroski F-Score checklist
Momentum
Weak30/100
1Y Return:—
RSI (14):54.2
From 52W High:—
1-Year Relative Strength vs NIFTY 500, RSI-14 & 52W High distance
Quantitative Drivers & Growth Analysis
52-week corridor, deep valuation multiples, compounded CAGR trajectory, and institutional flow shifts
52-Week Low₹1,258.80
From 52W High-19.17%
52-Week High₹1,592.30
Valuation MultiplesCash Flow & Yield
PEG Ratio3.16
Earnings Yield34.51%
Price / FCF10,454.85
FCF Yield0.01%
Payout Ratio1.35%
Net-Net Ratio-0.13
Solvency & SafetyPiotroski & Altman
Piotroski F-Score6/9
Altman Z-Score2.42
Graham Number₹2,588.07
1Y Flow & Margin ShiftsTrailing 12M
FII Stake:▼ 1.47%
DII Stake:▲ +0.33%
OPM Margin:▼ 0.17%
Net Margin:▲ +0.40%
Compounded Annual Growth Rate (CAGR Matrix)
Historical Fundamental Trajectory| Metric | QoQ Shift | YoY Shift | 1Y CAGR | 3Y CAGR | 5Y CAGR |
|---|---|---|---|---|---|
| Revenue Growth | ▲ +4.43% | ▲ +25.41% | 9.75% | 6.47% | 17.21% |
| Net Profit Growth | ▲ +23.42% | ▼ 22.40% | 15.98% | 6.59% | 10.46% |
| EPS Growth | ▲ +23.44% | ▼ 22.41% | 15.93% | 6.79% | 9.98% |
Intrinsic Valuation Models & DCF Sensitivity
Institutional DCF & Intrinsic Valuation Studio — RELIANCE
2-Stage Discounted Cash Flow, Reverse DCF Implied Growth, and Benjamin Graham & Peter Lynch valuation benchmarks.
DCF Intrinsic Fair Value
₹591.7
Verdict:Overvalued (-54.0%)
Benjamin Graham Number
₹947.8
-26.4% vs CMPPeter Lynch Fair Value
₹301.8
-76.6% vs CMPReverse DCF Implied Growth
23.8% CAGR
Aggressive Expectations (Priced for Perfection)Valuation Spectrum PositioningCMP: ₹1,287.0
₹0 (Distress)CMP: ₹1,287DCF: ₹592Graham: ₹948
Scenario Calibration & Sensitivity Levers
Tune Discount Rate (WACC), 5-Year Growth, and Terminal Value to model bear, base, and bull cases.
Discount Rate (WACC)11.5%
Cost of Capital Hurdle
5-Year FCF Growth CAGR6.0%
Assumed stage-1 cash flow expansionTerminal Growth Rate4.5%
Long-term perpetual GDP growth rate5-Year Projected Cash Flow Schedule (₹ Cr)
| Projection Period | Growth Rate | Projected FCF | Discount Factor | Present Value |
|---|---|---|---|---|
| Year 1 | 6% | ₹73,349 | 0.8969 | ₹65,784 |
| Year 2 | 6% | ₹77,750 | 0.8044 | ₹62,539 |
| Year 3 | 6% | ₹82,415 | 0.7214 | ₹59,454 |
| Year 4 | 6% | ₹87,360 | 0.6470 | ₹56,521 |
| Year 5 | 6% | ₹92,601 | 0.5803 | ₹53,733 |
2D Sensitivity Matrix (WACC vs Terminal Growth Rate)
Click any cell to apply WACC & terminal growth scenario. Values in ₹ / share.| WACC \ g(Terminal) | 3.0% | 4.0% | 4.5% | 5.0% | 6.0% |
|---|---|---|---|---|---|
| 10.0% | ₹633 -51% | ₹744 -42% | ₹815 -37% | ₹900 -30% | ₹1134 -12% |
| 11.0% | ₹525 -59% | ₹605 -53% | ₹655 -49% | ₹713 -45% | ₹863 -33% |
| 11.5% | ₹480 -63% | ₹550 -57% | ₹592 -54% | ₹640 -50% | ₹764 -41% |
| 12.0% | ₹441 -66% | ₹501 -61% | ₹537 -58% | ₹579 -55% | ₹682 -47% |
| 13.0% | ₹373 -71% | ₹420 -67% | ₹447 -65% | ₹478 -63% | ₹553 -57% |
Discounted cash flow (DCF) and valuation models are quantitative projections based on user-supplied assumptions — not a forecast, not a guarantee of future performance, and not SEBI-registered investment advice. Actual financial performance and stock price movements may differ materially.
New to intrinsic valuation models? Learn how Discounted Cash Flow and Terminal Growth rates work.Read DCF Academy Guide →
Valuation history
P/E21.48current
ReportedComputed, approximate
P/B1.92current
ReportedComputed, approximate
The dashed line is computed from historical close price divided by the most recently reported annual EPS or book value — not IndianAPI's own figure, which only ever gives a single current reading with no history behind it. Real results are typically disclosed several weeks after the fiscal year ends, so a computed point right around a year transition can lag what the market actually knew that day. The solid line is the real reported figure.
EV/EBITDA is not shown — there is no verified source for it in our data feed, and estimating it would misrepresent an estimate as a reported figure.
| Date | P/E | P/B |
|---|---|---|
| 31 Aug 2026 | 21.48 | 1.92 |
Analyst Consensus, Price Targets & Forecasts
Analyst Consensus & Recommendations
Aggregated institutional equity research ratings · 31 Aug 2026
Strong Buy(1.45 / 5)
Strong Buy:18
Buy:10
Hold:0
Sell:1
Strong Sell:0
Coverage: 29 contributing analystsScale: 1 (Strong Buy) – 5 (Strong Sell)
Ratings shown are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Risk Profile & Volatility
Statistical return volatility classification · 31 Aug 2026
Moderate risk
Low RiskModerate RiskHigh Risk
Annualised Standard Deviation:22.41%
Analyst Price Targets
12-month forward price consensus · 31 Aug 2026
Upside: +31.16%
Mean Target₹1,688.00vs CMP ₹1,287.00
High Target₹1,890.00+46.9% max upside
Low Target₹1,350.004.9% downside
Median Target₹1,692.0028 estimates
Low: ₹1,350.00Mean: ₹1,688.00High: ₹1,890.00
Mean Target Current Price (₹1,287.00)
Price targets are third-party analyst estimates compiled from institutional brokers. They do not constitute investment advice.
Forward Financial Forecasts & Consensus Estimates
Institutional broker consensus estimates and forward earnings trajectory
FY2024EConsensus
Mean Estimate
₹56.02
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹51.04
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹51.42
Low:—
High:—
FY2024EConsensus
Mean Estimate
₹47.32
Low:—
High:—
FY2025EConsensus
Mean Estimate
₹44.74
Low:—
High:—
FY2025E4 Analysts
Mean Estimate
₹12.24
Low:—
High:—
FY2025E5 Analysts
Mean Estimate
₹13.70
Low:—
High:—
FY2025E6 Analysts
Mean Estimate
₹14.34
Low:—
High:—
FY2026E6 Analysts
Mean Estimate
₹19.95
Low:—
High:—
FY2026E4 Analysts
Mean Estimate
₹12.54
Low:—
High:—
FY2026E7 Analysts
Mean Estimate
₹13.78
Low:—
High:—
FY2026E5 Analysts
Mean Estimate
₹13.42
Low:—
High:—
FY2027E7 Analysts
Mean Estimate
₹15.48
Low:—
High:—
FY2027E2 Analysts
Mean Estimate
₹16.34
Low:₹13.00
High:₹19.00
FY2027E2 Analysts
Mean Estimate
₹17.66
Low:₹13.00
High:₹21.00
FY2027E2 Analysts
Mean Estimate
₹17.58
Low:₹14.00
High:₹20.00
| Period / Fiscal Year | Consensus Mean | Bull Case (High) | Bear Case (Low) | Brokers |
|---|---|---|---|---|
| FY2024 Forecast | ₹56.02 | — | — | — |
| FY2024 Forecast | ₹51.04 | — | — | — |
| FY2024 Forecast | ₹51.42 | — | — | — |
| FY2024 Forecast | ₹47.32 | — | — | — |
| FY2025 Forecast | ₹44.74 | — | — | — |
| FY2025 Forecast | ₹12.24 | — | — | 4 |
| FY2025 Forecast | ₹13.70 | — | — | 5 |
| FY2025 Forecast | ₹14.34 | — | — | 6 |
| FY2026 Forecast | ₹19.95 | — | — | 6 |
| FY2026 Forecast | ₹12.54 | — | — | 4 |
| FY2026 Forecast | ₹13.78 | — | — | 7 |
| FY2026 Forecast | ₹13.42 | — | — | 5 |
| FY2027 Forecast | ₹15.48 | — | — | 7 |
| FY2027 Forecast | ₹16.34 | ₹19.00 | ₹13.00 | 2 |
| FY2027 Forecast | ₹17.66 | ₹21.00 | ₹13.00 | 2 |
| FY2027 Forecast | ₹17.58 | ₹20.00 | ₹14.00 | 2 |
Third-party broker forecasts compiled from institutional research houses, not IndiScreener's proprietary estimates. Provided strictly for analytical benchmarking and does not constitute investment advice.
Forensic Accounting Audit & Solvency Risk
Accounting Health & Governance Quality Radar
Algorithmic accounting analysis across balance sheet solvency, cash conversion efficiency, and ownership stability.
Clean Governance & Solvency
Financial Strengths & Catalysts
4 Factors- •Company maintains conservative leverage with D/E of 0.44x.
- •Strong cash generation: Operating Cash Flow is 237.8% of reported Net Profit.
- •High promoter holding of 50.5% with zero encumbrance / pledge.
- •High institutional backing: FIIs & DIIs hold a combined 27.3%.
Risk Factors & Watchouts
1 Watchout- •Return on Equity (ROE) is currently modest at 8.9%.
Forensic Accounting & Health Audit
Piotroski F-Score, Altman Z-Score Distress Model & Beneish Earnings Manipulation Checks
Piotroski F-Score6 / 9
● Moderate (Neutral)
Altman Z-Score2.42
● Grey Zone
Moderate risk; company exhibits average leverage and liquidity.
Beneish M-Score-2.72
● Low Risk (Clean Accounting)
Cash flows closely match reported earnings with conservative accruals.
Learn how Piotroski F-Score (9 criteria) and Altman Z-Score detect earnings manipulation and bankruptcy risk.Read Forensic Guide →
10-Year Financial Statements & DuPont ROE
Financial Statements
consolidated · amounts in ₹ Crores
Accounting Flow:
Wall Street Cash Flow & Free Cash Flow (FCF) Cascade
FY26 (2025-2026)3-Stage institutional flow from reported earnings to owner Free Cash Flow and capital allocation
FCF Conversion Rate (FCF / PAT)
85.7%Healthy
Measures how much reported accounting profit turns into real liquid cash.
Free Cash Flow Margin
6.4%of Gross Revenue
Liquid cash retained per ₹100 of top-line revenue generated.
CapEx Reinvestment Rate
64.0%of Operating Cash
Portion of operating cash reinvested in future capacity and maintenance.
Reported Net Profit (PAT)₹80,775 CrInflow
80,775
+ D&A Non-Cash Charge₹58,941 CrAdd-back
58,941
Working Capital Adjustment₹52,397 Cr+ Cash
52,397
= Operating Cash Flow (CFO)₹192,113 CrOperating Cash
192,113
- Capital Expenditures (CapEx)-₹122,916 CrReinvestment
122,916
= Free Cash Flow (FCF)₹69,197 CrFree Cash Flow
69,197
- Dividends & Debt Repayment-₹17,771 CrCapital Return
17,771
= Net Change in Cash₹51,426 CrNet Balance
51,426
Multi-Year Historical FCF vs Reported PAT Trajectory:
Free Cash Flow (FCF) Reported Net Profit (PAT)
| Metric | 2014-201531 Mar 2015 | 2015-201631 Mar 2016 | 2016-201731 Mar 2017 | 2017-201831 Mar 2018 | 2018-201931 Mar 2019 | 2019-202031 Mar 2020 | 2020-202131 Mar 2021 | 2021-202231 Mar 2022 | 2022-202331 Mar 2023 | 2023-202431 Mar 2024 | 2024-202531 Mar 2025 | 2025-202631 Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | ₹5.38 L | ₹6.12 L | ₹4.86 L | ₹7.18 L | ₹8.91 L | ₹9.14 L | ₹9.80 L | ₹10.76 L |
| Operating profit | — | — | — | — | ₹1.08 L | ₹62,069.00 | ₹54,181.00 | ₹82,075.00 | ₹1.02 L | ₹1.12 L | ₹1.12 L | ₹1.21 L |
| OPM | — | — | — | — | 20.00% | 10.15% | 11.14% | 11.44% | 11.50% | 12.22% | 11.45% | 11.28% |
| Net profit | — | — | — | — | ₹40,387.50 | ₹39,354.00 | ₹49,128.00 | ₹60,705.00 | ₹66,702.00 | ₹69,621.00 | ₹69,648.00 | ₹80,775.00 |
| EPS | — | — | — | — | 29.89 | 33.01 | 37.14 | 42.56 | 49.07 | 51.60 | 51.55 | 59.76 |
| Net margin | — | — | — | — | 7.51% | 6.43% | 10.10% | 8.46% | 7.48% | 7.61% | 7.11% | 7.51% |
| ROE | — | — | — | — | 12.41% | 8.68% | 7.02% | 7.79% | 9.32% | 8.77% | 8.26% | 8.94% |
| ROCE | 9.00% | 10.00% | 10.00% | 11.00% | 24.91% | 8.24% | 5.19% | 6.89% | 8.46% | 8.23% | 7.50% | 7.41% |
| Debt / equity | — | — | — | — | 0.33 | 0.76 | 0.37 | 0.36 | 0.47 | 0.44 | 0.44 | 0.44 |
Compounded growth (CAGR)
| Metric | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|
| Revenue | 9.75% | 6.47% | 17.21% | — |
| Net profit | 15.98% | 6.59% | 10.46% | — |
| EPS | 15.93% | 6.79% | 9.98% | — |
Each column only appears when 12 real reported years actually support it — never extrapolated from fewer.
Balance sheet
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | — | — | — | ₹5.92 L | ₹11.66 L | ₹13.21 L | ₹15.00 L | ₹16.07 L | ₹17.56 L | ₹19.50 L | ₹21.78 L |
| Total liabilities | — | — | — | — | ₹2.66 L | ₹7.13 L | ₹6.21 L | ₹7.20 L | ₹8.92 L | ₹9.63 L | ₹11.07 L | ₹12.74 L |
| Total equity | — | — | — | — | ₹3.25 L | ₹4.53 L | ₹7.00 L | ₹7.79 L | ₹7.16 L | ₹7.93 L | ₹8.43 L | ₹9.04 L |
| Total debt | — | — | — | — | ₹1.06 L | ₹3.45 L | ₹2.60 L | ₹2.82 L | ₹3.34 L | ₹3.46 L | ₹3.70 L | ₹3.98 L |
| Cash | — | — | — | — | ₹70,994.55 | ₹19,762.00 | ₹8,890.00 | ₹8,820.00 | ₹3,972.00 | ₹74,012.00 | ₹46,485.00 | ₹98,592.00 |
| Current assets | — | — | — | — | ₹2.66 L | ₹2.58 L | ₹3.73 L | ₹3.47 L | ₹4.25 L | ₹4.70 L | ₹4.99 L | ₹5.94 L |
| Current liabilities | — | — | — | — | ₹1.48 L | ₹4.13 L | ₹2.78 L | ₹3.09 L | ₹3.96 L | ₹3.97 L | ₹4.54 L | ₹5.41 L |
| Inventory | — | — | — | — | ₹53,783.75 | ₹73,903.00 | ₹81,672.00 | ₹1.08 L | ₹1.40 L | ₹1.53 L | ₹1.46 L | ₹1.67 L |
| Receivables | — | — | — | — | ₹64,540.50 | ₹19,656.00 | ₹19,014.00 | ₹23,640.00 | ₹28,448.00 | ₹31,628.00 | ₹42,121.00 | ₹58,491.00 |
| Payables | — | — | — | — | ₹48,405.38 | ₹96,799.00 | ₹1.09 L | ₹1.59 L | ₹1.47 L | ₹1.78 L | ₹1.87 L | ₹1.59 L |
| Net PP&E | — | — | — | — | ₹2.37 L | ₹4.95 L | ₹5.22 L | ₹5.69 L | ₹6.88 L | ₹7.58 L | ₹8.53 L | ₹9.43 L |
| Retained earnings | — | — | — | — | ₹2.44 L | ₹3.08 L | ₹4.67 L | ₹5.24 L | ₹5.62 L | ₹6.36 L | ₹6.88 L | ₹7.61 L |
Cash flow
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | — | — | — | — | ₹50,484.38 | ₹94,900.00 | ₹26,209.00 | ₹1.12 L | ₹1.13 L | ₹1.60 L | ₹1.79 L | ₹1.92 L |
| Capital expenditure | — | — | — | — | ₹32,270.25 | ₹-76,517.00 | ₹-1.06 L | ₹-1.00 L | ₹-1.41 L | ₹-1.53 L | ₹-1.40 L | ₹-1.23 L |
| Free cash flow | — | — | — | — | ₹18,214.13 | ₹18,383.00 | ₹-79,628.00 | ₹11,450.00 | ₹-27,722.00 | ₹6,625.00 | ₹38,736.00 | ₹69,197.00 |
| OCF / net profit | — | — | — | — | 1.25 | 2.41 | 0.53 | 1.84 | 1.70 | 2.29 | 2.57 | 2.38 |
| FCF / Capex intensity | — | — | — | — | 0.06 | 12.51 | 21.76 | 13.95 | 15.82 | 16.72 | 14.28 | 11.43 |
Income statement detail
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit | — | — | — | — | ₹1.88 L | ₹1.70 L | ₹1.55 L | ₹1.97 L | ₹2.51 L | ₹2.84 L | ₹3.03 L | ₹3.38 L |
| Cost of revenue | — | — | — | — | ₹3.50 L | ₹4.41 L | ₹3.31 L | ₹5.20 L | ₹6.40 L | ₹6.31 L | ₹6.77 L | ₹7.38 L |
| EBITDA | — | — | — | — | ₹1.18 L | ₹84,272.00 | ₹80,753.00 | ₹1.12 L | ₹1.43 L | ₹1.65 L | ₹1.66 L | ₹1.80 L |
| Income before tax | — | — | — | — | ₹53,715.38 | ₹53,606.00 | ₹55,461.00 | ₹82,154.00 | ₹94,046.00 | ₹1.05 L | ₹1.06 L | ₹1.23 L |
| Interest expense | — | — | — | — | ₹26,891.88 | ₹11,672.00 | — | ₹793.00 | ₹9,910.00 | ₹9,922.00 | ₹9,319.00 | ₹1,461.00 |
| Tax expense | — | — | — | — | ₹13,327.88 | ₹13,726.00 | ₹1,722.00 | ₹15,970.00 | ₹20,376.00 | ₹25,707.00 | ₹25,230.00 | ₹27,552.00 |
| D&A | — | — | — | — | ₹21,513.50 | ₹22,203.00 | ₹26,572.00 | ₹29,782.00 | ₹40,303.00 | ₹53,096.00 | ₹53,445.00 | ₹58,941.00 |
| EBITDA margin | — | — | — | — | 22.00% | 13.78% | 16.60% | 15.59% | 16.02% | 18.03% | 16.91% | 16.76% |
Financial ratios
| Metric | 2014-2015 | 2015-2016 | 2016-2017 | 2017-2018 | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 | 2025-2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | — | — | — | — | 1.80 | 0.63 | 1.34 | 1.12 | 1.07 | 1.18 | 1.10 | 1.10 |
| Quick ratio | — | — | — | — | 1.44 | 0.45 | 1.05 | 0.78 | 0.72 | 0.80 | 0.78 | 0.79 |
| Interest coverage | — | — | — | — | 4.00 | 5.32 | — | 103.50 | 10.34 | 11.27 | 12.05 | 83.05 |
| Inventory days | 66.00 | 90.00 | 84.00 | 83.00 | 45.00 | 61.13 | 90.02 | 75.59 | 79.81 | 88.38 | 78.70 | 82.55 |
| Receivable days | 5.00 | 6.00 | 10.00 | 16.00 | 35.00 | 11.73 | 14.27 | 12.02 | 11.65 | 12.62 | 15.69 | 19.85 |
| Payable days | 74.00 | 117.00 | 132.00 | 146.00 | 40.00 | 80.07 | 120.02 | 111.75 | 83.90 | 103.20 | 100.64 | 78.55 |
| Cash conversion cycle | -2.00 | -21.00 | -38.00 | -46.00 | 40.00 | -7.21 | -15.74 | -24.13 | 7.57 | -2.19 | -6.26 | 23.85 |
| Working capital days | -64.00 | -148.00 | -179.00 | -179.00 | -108.00 | -158.00 | -58.00 | -56.00 | -66.00 | -53.00 | -68.00 | -66.00 |
| Fixed asset turnover | — | — | — | — | 2.27 | 1.24 | 0.93 | 1.26 | 1.30 | 1.21 | 1.15 | 1.14 |
| ROA | — | — | — | — | 6.83% | 3.38% | 3.72% | 4.05% | 4.15% | 3.96% | 3.57% | 3.71% |
| ROIC | — | — | — | — | 11.19% | 5.93% | 5.52% | 6.28% | 7.67% | 7.91% | 7.34% | 7.83% |
| Gross margin | — | — | — | — | 35.00% | 27.86% | 31.90% | 27.48% | 28.16% | 31.01% | 30.88% | 31.38% |
DuPont 3-Stage ROE Factor Decomposition
Deconstructing Return on Equity into Profitability, Asset Efficiency, and Financial Leverage
Balanced Return EngineFY2025-2026
Net marginProfitability
7.51%
Net Profit generated per ₹100 of revenue (Profitability)
×
Asset turnoverEfficiency
0.49
Revenue generated per ₹1 of total assets (Capital Efficiency)
×
Equity multiplierLeverage
2.41
Total assets supported per ₹1 of shareholder equity (Leverage)
=
Implied DuPont ROEFinal Output
8.94%
Reported: 8.94%
Explore the 3-Stage DuPont Formula: Net Margin × Asset Turnover × Leverage Multiplier.Read DuPont Guide →
Corporate Actions, Dividends & Capital Changes
Chronological Corporate Actions Registry
Historical stock splits, bonus shares, rights issues, and corporate schemes
| Year | Execution Date | Action Type | Ratio / Term |
|---|---|---|---|
| 2026 | 05 Jun 2026 | dividend | 60% |
| 2025 | 14 Aug 2025 | dividend | 55% |
| 2024 | 28 Oct 2024 | bonus | 1:1 |
| 19 Aug 2024 | dividend | 100% | |
| 2023 | 21 Aug 2023 | dividend | 90% |
| 2022 | 19 Aug 2022 | dividend | 80% |
| 2021 | 14 Jun 2021 | dividend | 70% |
| 2020 | 03 Jul 2020 | dividend | 65% |
| 14 May 2020 | rights | 1:15 | |
| 2019 | 05 Aug 2019 | dividend | 65% |
| 2018 | 28 Jun 2018 | dividend | 60% |
| 2017 | 09 Sept 2017 | bonus | 1:1 |
| 14 Jul 2017 | dividend | 110% | |
| 2016 | 18 Mar 2016 | dividend | 105% |
| 2015 | 12 May 2015 | dividend | 100% |
| 2014 | 20 May 2014 | dividend | 95% |
| 2013 | 14 May 2013 | dividend | 90% |
| 2012 | 02 Jun 2012 | dividend | 85% |
| 2011 | 09 May 2011 | dividend | 80% |
| 2010 | 12 May 2010 | dividend | 70% |
| 2009 | 27 Nov 2009 | bonus | 1:1 |
| 21 Oct 2009 | dividend | 130% | |
| 2008 | 10 May 2008 | dividend | 130% |
| 2007 | 22 Mar 2007 | dividend | 110% |
| 2006 | 03 Jun 2006 | dividend | 100% |
Dividend Intelligence & Capital Return History
Historical cash payout track record across 6 dividend distributions
Latest Year DPS:₹6.00
Yield on CMP:0.47%
3Y Dividend CAGR:-12.6%
Annual Dividend Payout Progression (Per Share)Total Cumulative DPS: ₹41.00
₹6.0
2026
₹5.5
2025
₹10.0
2024
₹9.0
2023
₹10.5
2021
| Ex-Date | Amount (Per Share) | Dividend Type |
|---|---|---|
| 05 Jun 2026 | ₹6.00 | Final |
| 14 Aug 2025 | ₹5.50 | Final |
| 19 Aug 2024 | ₹10.00 | Final |
| 21 Aug 2023 | ₹9.00 | Final |
| 11 Jun 2021 | ₹7.00 | Final |
| 11 Jun 2021 | ₹3.50 | Final |
Industry Peer Group & Valuation Spread
Compare valuation multiples and market cap relative to sector competitors
Oil Gas & Consumable FuelsCompare Peers in Studio
Market Cap17,38,119.27 ₹ cr
Beats 100% of 16 industry peers · median 56,300.88 ₹ cr
P/E21.48 x
Beats 85% of 13 industry peers · median 11.20 x
P/B1.92 x
Beats 62% of 13 industry peers · median 1.80 x
ROE32.90%
Beats 100% of 16 industry peers · median 12.74%
ROCE43.65%
Beats 100% of 16 industry peers · median 13.59%
Debt to Equity0.26 x
Beats 6% of 16 industry peers · median 0.48 x
Net Margin8.47%
Beats 0% of 16 industry peers · median 11.72%
Dividend Yield0.47%
Beats 13% of 16 industry peers · median 3.32%
Revenue Growth (YoY)25.41%
Beats 50% of 16 industry peers · median 25.35%
| Company | Market Cap ▼ | P/E | P/B |
|---|---|---|---|
| ₹2.92 L | 7.05 | 0.79 | |
| ₹2.92 L | 7.05 | 0.79 | |
Coal India Ltd.COALINDIA | ₹2.47 L | 7.95 | 2.07 |
| ₹1.91 L | 4.49 | 0.86 | |
| ₹1.38 L | 5.28 | 1.38 |
Peers are chosen strictly by industry classification. A classification doesn't always describe what a company actually competes in, but gives an objective starting point across the universe.
Regulatory Filings & Market Intelligence
Announcements
- Reliance Industries Ltd: Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015Secretarial Filing22 Jul 2026
- Reliance Industries Ltd: Investor Presentation on Q4 Financial Results and Growth OutlookInvestor Presentation19 Jul 2026
- 15 Jul 2026
- Reliance Industries Ltd: Recommendation of Final Dividend for the Financial Year 2025-26Corporate Action30 Apr 2026
- Reliance Industries Ltd: Transcript of Earnings Conference Call with Institutional InvestorsEarnings Call26 Apr 2026
- Reliance Industries Ltd: Outcome of Board Meeting for Approval of Audited Financial ResultsFinancial Results07 Apr 2026
- 29 Mar 2026
- 09 Feb 2026
News
- IndianAPIJio Platforms gets Sebi nod for ₹35,000 crore IPO, India’s biggest potential listing
The Reliance Industries digital arm is planning to raise ₹35,000 crore in a fresh issue, with strong initial interest from global investors and a listing targeted within the next couple of months.
- IndianAPINifty witnesses highest volume in 11 sessions; breaks below trendline support
Thursday’s fall pushed the Nifty to its lowest closing level in the past six trading sessions.
- IndianAPIInside Google’s Vizag data centre: fast approval, GPS for fishermen, AI corridor
Google’s $15 billion, 1GW Vizag data centre is set to anchor an emerging AI corridor in India. Backed by Adani and Airtel, the project benefited from fast approvals and could bring more tech firms to the region, with the first phase expected by mid-2028.
- IndianAPIBelfast Wolves vs Dublin Guardians live streaming: When & where to watch Ravi Ashwin live in ETPL 2026 in India? Details
Former India captain Rahul Dravid will make his debut as a franchise owner when his Dublin Guardians take on Belfast Wolves in an ETPL 2026 match. Former India off-spinner Ravichandran Ashwin is the captain of Dublin Guardians.
- IndianAPIJSW puts 50GWh cell plant on hold as China tech curbs block partnership
The JSW Group, led by Sajjan Jindal, has halted plans for a 50 GWh battery cell gigafactory in India owing to the inability to secure a partner for lithium iron phosphate technology from China.
- IndianAPIAmbani weighs aluminium entry, setting up potential Adani showdown
The move comes as billionaire Gautam Adani’s group marks its entry in the aluminium sector. In June, Adani Enterprises announced plans to invest about $11.5 billion to develop a 2 million tonnes per annum aluminium project in Odisha in partnership with UAE’s International Holding Company.
- IndianAPIStocks to watch: Reliance Industries, Power Grid, IREDA among shares to be in focus today. Details here
Stock market today: Gift Nifty was trading near the 24,329.50 mark, up over 43.50 points from the previous close of Nifty futures.
- IndianAPICentre moves SC against Madras HC relief to Jio in GST input credit case
The government seeks to overturn the order, which directed GST authorities to reconsider the show-cause notices issued to Jio.
- IndianAPIMcap of four of top-10 most valued firms erodes ₹87,960 crore; Airtel takes biggest hit
The combined market valuation of four of the top 10 most valued firms in India eroded by ₹87,960.29 crore last week, with Bharti Airtel taking the biggest hit, in-tandem with a bearish trend in equities.
- IndianAPIAmara Raja bets on in-house battery tech, global talent after China deal stalls
The company had announced a partnership with Gotion in June 2024 to license lithium iron phosphate (LFP) battery technology. LFP and NMC are two cathode chemistries for lithium-ion batteries used in electric vehicles (EVs) and storage systems.
- IndianAPISwiggy as Indian-controlled company: time to reassess Instamart’s valuation?
The implied valuation of Instamart becomes a key monitorable as the company starts operating an inventory-owned model alongside its online marketplace.
- IndianAPISatcom services from Jio, Starlink, OneWeb stuck over security concerns
Concerned about national security, the government is holding up security approvals and spectrum allocation.
- IndianAPIWest Bengal teen's desperate search for relief kept him in ponds, then Anant Ambani stepped in
A young boy from West Bengal's Murshidabad, who had been living in a pond due to a debilitating medical condition, has been airlifted to Mumbai for specialised medical evaluation and treatment following intervention by Anant Ambani.
- IndianAPIMint Explainer | Why India's ₹18,100 crore advanced chemistry battery-making incentive plan is delayed by two years
The PLI ACC scheme is among 14 such programmes started by the Union government to build indigenous manufacturing capacity in key sectors. It has a ₹18,100 crore outlay to be disbursed as incentives.
- IndianAPIQ1 earnings beat expectations, but Indian stock market remains rangebound: What could change the trend?
Despite strong Q1 earnings beating expectations, the Indian stock market struggles to break free from a downward trend. Factors like elevated crude oil prices and geopolitical tensions play a crucial role in maintaining this state. What could trigger a shift in market trend?
- IndianAPIKKR picks minority stake in BookMyShow
KKR’s investment comes as BookMyShow looks to accelerate its live entertainment business and broaden its presence beyond movie ticketing.
- IndianAPISHANTI Act puts private nuclear power in play. Are investors getting ahead of the story?
Draft rules lay the groundwork for private participation, while power companies are already scouting sites for nuclear projects. For investors, however, the bigger question is how soon the opportunity can translate into earnings.
- IndianAPIJio vs Airtel: the base plan is now the new telecom battleground
The move from Reliance Jio, whose tariffs already trade at a discount to peers, could affect Airtel’s strategy to upgrade base-level plan users to higher tariffs. The pricing divergence also puts the spotlight on Vodafone Idea.
- IndianAPIReliance shares briefly slip below ₹1,300 amid volatility: Buy the dip or wait?
Year-to-date, Reliance share price is down over 16% compared to a nearly 9% decline in the benchmark Sensex. The heavyweight stock hit a 52-week low of ₹1,250.55 on 24 July after hitting a 52-week high of ₹1,611.20 on 5 January this year.
- IndianAPIStocks to watch: Reliance Industries, Cochin Shipyard, NMDC among shares in focus today; check list here
Stock market today: Gift Nifty was trading near the 24,393.5 mark, down over 56 points from the previous close of Nifty futures.
For informational and educational purposes only. Not investment advice. Data may be delayed or incomplete. Consult a SEBI-registered investment adviser before making investment decisions.