MarketFriction

Reliance Industries Ltd

NSE RELIANCE · BSE 500325 · Refineries & Marketing
₹1,167.70 -1.63%
NSE close2026-10-01
52 week range1,181.70 - 1,611.80
Market cap₹16,20,656 Cr.
P/E21.7
Nifty 50Nifty 100Nifty 200Nifty 500Nifty EnergyNifty Oil & GasNifty InfrastructureNifty Commodities No price band Delivery 61.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales231,886225,086236,533231,784231,535239,986261,388243,632254,623264,905294,059309,468
Expenses190,918184,430194,017193,019192,477196,197217,556200,727208,738218,887249,918261,951
Operating Profit40,96840,65642,51638,76539,05843,78943,83242,90545,88546,01844,14147,517
OPM %18%18%18%17%17%18%17%18%18%17%15%15%
Other Income3,8413,8694,5343,9834,8764,2144,90515,1194,4824,9144,4476,550
Interest5,7315,7895,7615,9186,0176,1796,1557,0366,8276,6136,5858,337
Depreciation12,58512,90313,56913,59612,88013,18113,47913,84214,41614,62214,80815,100
Profit before tax26,49325,83327,72023,23425,03728,64329,10337,14629,12429,69727,19530,630
Tax %25%25%24%25%24%24%23%17%24%25%24%25%
Net Profit19,87819,64121,24317,44519,32321,93022,61130,78322,09222,29020,58923,196
EPS in Rs12.8512.7614.0111.1912.2413.7014.3419.9513.4213.7812.5415.48
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales272,583303,954390,823568,337596,679466,307694,673876,396899,041962,8201,055,7801,123,055
Expenses230,802257,647326,508484,087507,413385,517586,092734,078736,543797,222876,715939,494
Operating Profit41,78146,30764,31584,25089,26680,790108,581142,318162,498165,598179,065183,561
OPM %15%15%16%15%15%17%16%16%18%17%17%16%
Other Income12,2129,2229,8698,4068,57022,43219,60012,02015,79217,82428,84620,393
Interest3,6913,8498,05216,49522,02721,18914,58419,57123,11824,26927,06128,362
Depreciation11,56511,64616,70620,93422,20326,57229,78240,30350,83253,13657,68858,946
Profit before tax38,73740,03449,42655,22753,60655,46183,81594,464104,340106,017123,162116,646
Tax %23%25%27%28%26%3%19%22%25%24%22%
Net Profit29,86129,83336,08039,83739,88053,73967,84574,08879,02081,30995,75488,167
EPS in Rs21.5121.5526.6929.2829.1038.7544.8749.2951.4551.4759.6955.22
Dividend Payout %10%11%10%10%10%9%9%9%10%11%10%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%18%6%15%
Compounded Profit Growth10%12%5%0%
Stock Price CAGR17%1%1%-13%
Return on Equity9%9%9%9%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2,9432,9482,9595,9225,9266,3396,4456,7656,7666,76613,53213,532
Reserves215,556228,608260,750287,584381,186442,827693,727772,720709,106786,715829,668890,498
Borrowings168,251194,714217,475239,843307,714355,133278,962319,158451,664350,719374,313402,962
Other Liabilities117,736172,727225,618277,924302,804358,716340,931399,979438,346610,848732,200870,554
Total Liabilities504,486598,997706,802811,273997,6301,163,0151,320,0651,498,6221,605,8821,755,0481,949,7132,177,546
Fixed Assets156,458184,910198,526403,885398,374532,658541,258627,798724,805779,985999,3931,124,795
CWIP166,462228,697324,837187,022179,463109,106125,953172,506293,752338,855262,358237,686
Investments76,45184,01582,89982,862235,635276,767364,828394,264235,560225,672242,381248,332
Other Assets105,115101,375100,540137,504184,158244,484288,026304,054351,765410,536445,581566,733
Total Assets504,486598,997706,802811,273997,6301,163,0151,320,0651,498,6221,605,8821,755,0481,949,7132,177,546
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity34,37438,13449,55071,45942,34694,87726,958110,654115,032158,788178,703192,113
Cash from Investing Activity-64,706-36,186-66,201-68,192-94,507-72,497-142,385-109,162-93,001-113,581-137,535-101,089
Cash from Financing Activity8,444-3,2108,617-2,00155,906-2,541101,90417,28910,455-16,646-31,891-51,549
Net Cash Flow-21,888-1,262-8,0341,2663,74519,839-13,52318,78132,48628,5619,27739,475
Free Cash Flow-28,588-8,420-27,077-1,495-50,43119,324-76,56013,646-16,77021,21241,07970,023
CFO/OP109%112%129%126%65%116%37%105%85%105%115%113%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days5610161912151212131620
Inventory Days6690848363671028387958588
Days Payable74117132146100871361239111110884
Cash Conversion Cycle-2-21-38-46-18-9-19-277-3-825
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%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.27%50.30%50.31%50.33%50.24%50.13%50.10%50.07%50.01%50.00%50.00%50.48%
FIIs22.60%22.13%22.06%21.75%21.30%19.16%19.07%19.21%18.65%19.09%18.67%17.19%
DIIs15.99%16.59%16.98%17.30%17.61%19.02%19.36%19.72%20.25%20.10%20.46%21.10%
Government0.17%0.18%0.19%0.19%0.19%0.18%0.17%0.17%0.17%0.17%0.17%0.17%
Public10.98%10.80%10.46%10.43%10.67%11.52%11.29%10.84%10.92%10.64%10.70%11.05%
No. of Shareholders36,98,64836,13,81434,63,27634,93,12538,34,96847,14,95947,65,72844,35,75643,93,76442,06,15944,21,28946,51,863

Fundamentals

Market Cap₹ 16,20,656 Cr.
Current Price₹ 1,198
Stock P/E21.7
Book Value₹ 668
ROCE10.3 %
ROE8.91 %
Dividend Yield0.50 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)15%
Compounded Profit Growth (TTM)0%
Consolidated figures.
Valuation
Market capRs 1,580,187 Cr
Enterprise valueRs 1,837,172 Cr
P/E (TTM)21.15x
Price to book1.75x
Price to sales1.41x
EV / EBITDA9.01x
EV / EBIT12.67x
EV / sales1.64x
Price to cash flow8.23x
Earnings yield4.73%
Dividend yield0.51%
P/E, 3-year average20.58x
P/B, 3-year average1.77x
P/E, 5-year average17.21x
P/B, 5-year average1.48x
Profitability
Operating margin (excl. other income)16.96%
Operating margin (incl. other income)19.69%
EBITDA margin18.16%
Pre-tax margin10.39%
Net profit margin6.65%
Net margin, latest quarter6.77%
ROE9.25%
ROCE11.90%
ROA3.91%
ROE, 3-year average8.99%
ROCE, 3-year average11.32%
ROA, 3-year average3.94%
ROE, 5-year average8.82%
ROCE, 5-year average10.70%
ROA, 5-year average4.08%
ROIC (approx.)9.70%
Tax rate22.37%
Other income / net worth3.19%
Growth
Sales growth (latest year)9.65%
Profit growth (latest year)15.98%
Sales CAGR, 3 years6.40%
Sales CAGR, 5 years17.76%
Profit CAGR, 3 years6.59%
Profit CAGR, 5 years10.46%
Sales growth QoQ5.24%
Profit growth QoQ23.42%
Sales growth YoY (latest quarter)27.02%
Profit growth YoY (latest quarter)-22.41%
Per share
EPS (TTM)Rs 55.22
EPS (latest year)Rs 59.69
EPS (latest quarter)Rs 15.48
EPS, 3-year averageRs 71.35
EPS, 5-year averageRs 80.47
Book value per shareRs 668.04
Sales per shareRs 829.90
Cash flow per shareRs 141.96
Free cash flow per shareRs 51.74
Dividend per share (latest year)Rs 6.00
Dividend per share, 3-year averageRs 7.17
Dividend per share, 5-year averageRs 7.70
Dividends
Dividend payout10.05%
Dividend payout, 3-year average10.15%
Dividend payout, 5-year average9.70%
Efficiency
Asset turnover0.48x
Fixed asset turnover0.94x
Inventory turnover4.38x
Inventory days83 days
Debtor days20 days
Debtors turnover18.05x
Creditor days84 days
Cash conversion cycle25 days
Working capital days-66 days
Leverage
Total debtRs 402,962 Cr
Cash and bankRs 145,977 Cr
Net debtRs 256,985 Cr
Debt to equity0.45x
Net debt / EBITDA1.26x
Interest coverage5.11x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)0.79x
Trade payables (filing 2026-03-31)Rs 158,842 Cr
Owners' fund to total sources41.52%
Debt to assets18.51%
Cash flow
Cash from Operating Activity (latest year)Rs 192,113 Cr
Cash from Investing Activity (latest year)Rs -101,089 Cr
Cash from Financing Activity (latest year)Rs -51,549 Cr
Net Cash Flow (latest year)Rs 39,475 Cr
Free cash flow (latest year)Rs 70,023 Cr
FCFE (approx.: FCF + change in debt)Rs 98,672 Cr
Cash from ops / profit, 5 years1.90x
Sales to cash flow5.50x
Statement figures
Net sales (TTM)Rs 1,123,055 Cr
Net sales (latest year)Rs 1,055,780 Cr
Sales (latest quarter)Rs 309,468 Cr
Operating profit excl. other income (latest year)Rs 179,065 Cr
Operating profit (latest quarter)Rs 47,517 Cr
Other income (TTM)Rs 20,393 Cr
EBITDA (TTM)Rs 203,954 Cr
PBDT (TTM)Rs 175,592 Cr
Profit before tax (TTM)Rs 116,646 Cr
Tax (latest year)Rs 27,552 Cr
Net profit (TTM)Rs 74,727 Cr
Net profit (latest year)Rs 80,775 Cr
Net profit (latest quarter)Rs 20,946 Cr
Depreciation (TTM)Rs 58,946 Cr
Depreciation (latest quarter)Rs 15,100 Cr
Interest (TTM)Rs 28,362 Cr
Cost of goods sold (latest year)Rs 731,894 Cr
Total expenditure (latest year)Rs 876,715 Cr
Total income (latest year)Rs 1,084,626 Cr
Share capitalRs 13,532 Cr
ReservesRs 890,498 Cr
Shareholders' fundsRs 904,030 Cr
Total assetsRs 2,177,546 Cr
Net blockRs 1,124,795 Cr
Capital work in progressRs 237,686 Cr
InvestmentsRs 248,332 Cr
ReceivablesRs 58,491 Cr
InventoryRs 166,941 Cr
Other liabilitiesRs 870,554 Cr
Shares outstanding (crore)1,353.25
Ownership
Promoter holding50.48% (+0.41 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 21.1 is at the 12th percentile of its own 9.4-year range (median 25.6, low 15.6, high 38.4).
P/B 1.75 is the lowest in 9.4 years (median 2.37).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodRELIANCENifty 50Difference
1 week-4.2%-2.8% -1.4 pts
1 month-10.8%-6.8% -4.0 pts
3 months-10.5%-7.6% -2.8 pts
6 months-13.1%+0.4% -13.5 pts
1 year-14.9%-9.9% -5.0 pts
2 years-21.8%-13.6% -8.2 pts
3 years-0.4%+14.2% -14.6 pts
5 years-7.5%+27.9% -35.4 pts
635 mutual fund schemes hold about ₹119,591 Cr. Over three months 424 bought more and 98 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Large Cap Fund5.59%4,482 +11%
HDFC Balanced Advantage Fund3.74%4,010 +9%
ICICI Pru Value Fund5.10%3,066 +10%
ICICI Pru Multi Asset Allocation Fund3.26%2,865 +11%
ICICI Pru Aggressive Hybrid Fund(A4.55%2,387 +8%
UTI Nifty 50 Index Fund7.83%2,308 +10%
SBI Contra Fund4.75%2,263 +10%
Nippon India Large Cap Fund4.11%2,227 +8%
SBI Arbitrage Fund4.30%2,035 +44%
Mirae Asset Large Cap Fund5.15%1,996 +11%
SBI Large Cap Fundd3.59%1,979 -30%
ICICI Pru Balanced Advantage Fund(M2.60%1,961 +1%
SBI Aggressive Hybrid Fund2.16%1,916 +6%
HDFC Large Cap Fund4.78%1,909 +8%
HDFC Nifty 50 Index Fund7.83%1,894 +10%
SBI Balanced Advantage Fund4.42%1,868 +8%
HDFC Flexi Cap Fund1.44%1,633 -19%
Kotak Arbitrage Fund(M1.99%1,508 -18%
Aditya Birla SL Large Cap Fund4.90%1,455 +8%
ICICI Pru Arbitrage Fund4.02%1,401 +13%
ICICI Pru Nifty 50 Index Fund7.83%1,358 +10%
ICICI Pru India Opp Fund3.53%1,355 +7%
ICICI Pru Nifty 50 Index Fund7.83%1,350 +10%
Mirae Asset Large & Midcap Fund2.94%1,344 +1%
Kotak Flexi Cap Fund2.26%1,277 +9%

Red flags

F-score 6 of 8
lookRegulator order or action Regulator order or action 2026-03-31: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-02-13Shaila NarayanImmediate relativeother3,120Rs 0.44 CrOff Market
2026-02-13BALANADU NARAYANOtherother2,320Rs 0.33 CrOff Market
2026-02-02ASHWINI DARSHAN NAPHADEImmediate relativeother960Rs 0.13 CrOthers
2026-01-05Poornima Dileep ChoksiImmediate relativeother1,064Rs 0.17 CrRevokation of Pledge
2025-09-12Shobha AgarwalImmediate relativesell25,000Rs 3.46 CrMarket Sale
2025-09-11Shobha AgarwalImmediate relativesell100,000Rs 13.85 CrMarket Sale
2023-12-11SHOBHA AGARWALImmediate relativeother150,000Gift
2023-11-23DIPALI AJAY KEERImmediate relativesell933Rs 0.22 CrMarket Sale
2023-09-22SHOBHA AGARWALImmediate relativeother150,000Gift
2023-08-19Reliance Industrial Investments anPromoter Groupother240,942,006Off Market
2023-06-30Anuradha SethuramanImmediate relativeother5,000Rs 1.28 CrPledge Creation
2023-05-22SHOBHA AGARWALImmediate relativeother125,000Gift
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

What management said

Earnings call, 2026-07-19

Tone: confident. Management highlighted extraordinary operational agility and strong financial performance despite severe macro volatility and supply chain disruptions.

Risks they named

Under-recoveries in retail and domestic sales

Special Additional Excise Duty (SAED)

Strait of Hormuz closure and supply chain dislocations

Commitments with a date

Commission installation of Kutch renewable ecosystem power supply (this year)

Read from the company's own filing by AI. Every number shown was checked word for word against the filing (hover a row for the exact quote). Tone is the model's reading. Not a full summary; open the filing for context.

Latest quarter

Jun 2026
Sales ₹309,468 Cr +27.0% vs Jun 2025. Net profit ₹23,196 Cr -24.6%.

Activity

Compare
No bulk or block deals on record.
Ex-dateActionFactor
2026-06-05Dividend - Rs 6 Per Share
2025-08-14Dividend - Rs 5.5 Per Share
2024-10-28Bonus 1:10.5000
2024-08-19Dividend - Rs 10 Per Share
2023-08-21Dividend - Rs 9 Per Share
2023-07-20Demerger
2022-08-18Dividend - Rs 8 Per Share
2021-06-11 Dividend - Rs 7 Per Share
2020-07-02 Dividend - Rs 6.50 Per Share
2020-05-13 Rights 1:15 @ Premium Rs 1247
2019-08-02 Annual General Meeting/Dividend - Rs 6.50 Per Share
2018-06-27 Dividend- Rs 6 Per Share
2017-09-07 Bonus 1:10.5000
2017-07-13 Dividend - Rs 11/- Per Share
2016-03-17 Interim Dividend - Rs 10.50/- Per Share (Purpose Revised)
2015-05-08Dividend - Rs 10/- Per Share
2014-05-16Dividend Rs. 9.50 Per Equity Share
2013-05-10Annual General Meeting/ Dividend Rs. 9 Per Equity Share
2012-05-31Annual General Meeting And Dividend Rs.8.50 Per Share
2011-05-05Dividend-Rs.8/- Per Share
2010-05-10Dividend Rs 7 Per Share
2009-11-26Bonus 1:10.5000
2009-10-16Int Div-Rs.13/- Per Share
2008-05-08Dividend-Rs.13 Per Share
2007-10-03Agm
2007-03-21Int Div-Rs.11/- Per Sh Purpose Revised
2006-06-01Dividend-Rs.10/- Per Sh
DateTypeWhat it says
2026-10-01AllotmentWe wish to inform that the Company has today allotted 13,00,000 Unsecured, Redeemable, Non-Convertible Debentures ("NCDs") of the face value of Rs. 1,...
2026-09-25Credit RatingCredit Rating
2026-09-25Credit RatingCredit Rating
2026-09-24UpdatesThis is further to the disclosure dated September 21, 2026 made by the Company. We wish to inform you that the Company executives participated in the ...
2026-09-23UpdatesThis is further to the disclosure dated September 17, 2026 made by the Company. We wish to inform you that the Company executives participated in the ...
2026-09-21UpdatesThis is further to the disclosure dated September 16, 2026 made by the Company. We wish to inform you that the Company executives participated in the ...
2026-09-21Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting - BofA Asia Pacific Conference 2026, scheduled to...
2026-09-17UpdatesThis is further to the disclosure dated September 11, 2026 made by the Company. We wish to inform you that the Company executives participated in the ...
2026-09-17Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting - CITIC CLSA Investors Forum 2026, scheduled to b...
2026-09-16Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting - J.P. Morgan India Conference 2026, scheduled to...
2026-09-16AllotmentWe wish to inform that the Company has today allotted 12,00,000 Unsecured, Redeemable, Non-Convertible Debentures ("NCDs") of the face value of Rs. 1,...
2026-09-11Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting -Jefferies India Forum 2026, scheduled to be held...
2026-09-10UpdatesThis 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 I...
2026-09-09Credit RatingCredit Rating
2026-09-07Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting - UBS India Summit 2026, scheduled to be held on ...
2026-09-05Other RestructuringRoptonal Limited (Roptonal), a step-down subsidiary of the Company, stands dissolved with effect from August 18, 2026, as per the certificate dated Se...
2026-08-28UpdatesMedia Statement
2026-08-28UpdatesObservation Letter on the Draft Red Herring Prospectus for the proposed Initial Public Offer of Jio Platforms Limited
2026-08-21Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-08-21Shareholder meetingThe voting results in the format prescribed under Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 alo...
2026-08-18UpdatesThis is further to the disclosure dated August 13, 2026 made by the Company. We wish to inform you that the Company executives participated in the Ins...
2026-08-18News clarificationThe Exchange has sought clarification from Reliance Industries Limited with respect to recent news item captioned SC slaps Rs 10 lakh fine on Reliance...
2026-08-17News clarificationThe Exchange has sought clarification from Reliance Industries Limited with respect to recent news item captioned SC slaps Rs 10 lakh fine on Reliance...
2026-08-14UpdatesPlease find attached a media release by the Company, titled Reliance Industries and Rolls-Royce announce strategic intent to partner and develop Indi...
2026-08-13Concall / analyst meetPlease note that the Company executives will be participating in the Institutional Investors Meeting - Motilal Oswals 22nd Annual Global Investor Conf...
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.70
Max pain (expiry 2026-10-27)1,220
Largest call open interest at1,200
Largest put open interest at1,200
Implied volatility, at the money24.2%
Underlying at snapshot1,167.70
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,500
2026-09-291,001
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Reliance Industries Ltd?

Reliance Industries Ltd (RELIANCE) has a market capitalisation of Rs 16,20,656 Cr. at the 2026-10-01 close.

What is the P/E ratio of Reliance Industries Ltd?

Reliance Industries Ltd trades at a P/E of 21.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Reliance Industries Ltd's latest quarterly results?

In the Jun 2026 quarter, Reliance Industries Ltd sales was Rs 309,468 Cr (+27.0% vs Jun 2025) and net profit was Rs 23,196 Cr.

What is the 52-week high and low of Reliance Industries Ltd?

The 52-week high is Rs 1,611.80 and the 52-week low is Rs 1,181.70.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03