MarketFriction

Reliance Infrastructure Ltd

NSE RELINFRA · BSE 500390 · Integrated Power Utilities
₹46.48 +4.99%
NSE close2026-10-01
52 week range42.56 - 255.79
Market cap₹1,775 Cr.
P/E0.77
Insolvency Price band 5%

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
Sales7,1534,6384,6867,1937,2585,0334,1085,9086,2354,2974,0016,344
Expenses6,4954,1134,3696,5176,6474,4274,0945,6685,1803,8674,7226,498
Operating Profit658525317676611606142401,055429-721-153
OPM %9%11%7%9%8%12%0.3%4.1%17%10%-18%-2.4%
Other Income221424616633,744-2,9748,9498492,3036932,5741,652
Interest610578552470472468374427444442348413
Depreciation387379366348355359360375368373350342
Profit before tax-118-715-783,527-3,1958,2292872,5463071,155743
Tax %5%228%136%-11%0%0%-0%-2%-0%-1%-53%-0%
Net Profit-182-301-98-934,195-3,1868,2623052,5753171,640768
EPS in Rs-7.42-10.63-5.57-5.90103.06-83.26110.751.4646.770.2722.479.10
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales26,95225,22918,72819,73119,99017,73519,68922,39822,80524,44121,15120,877
Expenses22,43520,45515,54524,24218,60717,47117,83220,97220,65320,67820,11420,267
Operating Profit4,5184,7743,183-4,5111,3832641,8571,4272,1513,7641,038610
OPM %17%19%17%-23%7%1.5%9%6%9%15%4.9%2.9%
Other Income2,5633,4384,2817,2063,2216,754830-501,0577,9266,3857,221
Interest5,0265,5815,2042,5812,4002,7272,0602,3932,3101,7841,6601,647
Depreciation1,5441,6881,2541,2921,3891,3521,2831,4481,5031,4211,4661,433
Profit before tax5119431,006-1,1788152,939-656-2,466-6058,4844,2964,752
Tax %44%-15%-15%-20%-6%-6%3%0%7%-0%-15%
Net Profit6931,3941,214-2,3239083,116-868-2,564-1,1489,1774,8385,301
EPS in Rs28.8854.1947.74-92.2829.3242.79-37.98-91.57-40.61124.6470.9778.61
Dividend Payout %29%17%20%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-2%4%-2%-6%
Compounded Profit Growth11%17%73%-49%
Stock Price CAGR-22%-16%-37%-82%
Return on Equity7%6%14%14%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital263263263263263263263263352396396409
Reserves26,71121,38923,08423,41713,9139,52910,59712,1448,9428,35114,03417,464
Borrowings25,77030,55025,81425,44117,77217,14713,90712,71811,5109,8956,3614,937
Other Liabilities18,10348,56749,12150,71136,24737,92137,22637,27740,09640,51745,04948,351
Total Liabilities70,847100,76998,28299,83268,19464,86161,99462,40360,89959,15965,84171,160
Fixed Assets17,69732,88736,56739,39324,94823,25319,50519,00219,75617,75717,71417,812
CWIP5,0814,9712,3603,0052,5922,5292,0252,1981,0151,3021,3731,240
Investments17,61813,20013,14313,0926,7421,3941,7694,7004,3383,9048,67210,319
Other Assets30,45149,71246,21244,34233,91137,68338,69636,50335,79136,19638,08241,789
Total Assets70,847100,76998,28299,83268,19464,86161,99462,40360,89959,15965,84171,160
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,29010,2968,6788,1536842,8751,4363,7993,4584,0973,6572,550
Cash from Investing Activity-1,726-5,690-75-8052,759-80818-502-1,333415-1,731-1,462
Cash from Financing Activity-1,707-4,704-8,452-7,428-3,334-1,979-1,531-2,942-2,242-3,648-1,252-1,775
Net Cash Flow-143-98152-8010987-77356-117865674-686
Free Cash Flow1,3349,1516,3606,563-7351,5674763,0472,1223,2132,2011,000
CFO/OP192%228%185%263%-12%197%572%201%236%186%98%236%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days12476821068390817642272320
Inventory Days
Days Payable
Cash Conversion Cycle12476821068390817642272320
Working Capital Days-67-85-111-380-314-322-370-375-392-379-398-476
ROCE %6%11%10%12%18%11%19%5%9%7%34%15%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters16.56%16.50%16.50%16.50%16.50%16.50%16.50%19.05%19.05%19.05%19.05%19.05%
FIIs12.14%12.69%11.77%12.37%8.38%9.00%11.35%10.26%7.07%5.72%5.53%4.94%
DIIs2.85%2.64%2.16%2.26%1.40%1.34%1.36%1.38%1.27%1.06%1.24%0.78%
Government0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.01%0.01%0.01%0.01%0.01%
Public68.33%68.03%69.42%68.75%73.59%73.01%70.66%69.18%72.47%74.03%74.06%75.10%
Others0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%
No. of Shareholders6,94,3136,59,1686,65,7297,01,5837,12,1046,91,8426,81,3957,12,5877,17,7836,72,1726,60,3026,54,736

Fundamentals

Market Cap₹ 1,775 Cr.
Current Price₹ 43.4
Stock P/E0.77
Book Value₹ 437
ROCE15.4 %
ROE14.3 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-6%
Compounded Profit Growth (TTM)-49%
Consolidated figures.
Valuation
Market capRs 1,901 Cr
Enterprise valueRs 4,634 Cr
P/E (TTM)0.59x
Price to book0.11x
Price to sales0.09x
EV / EBITDA0.59x
EV / EBIT0.72x
EV / sales0.22x
Price to cash flow0.75x
Earnings yield168.98%
P/E, 3-year average1.51x
P/B, 3-year average0.70x
P/E, 5-year average1.51x
P/B, 5-year average0.58x
Profitability
Operating margin (excl. other income)4.91%
Operating margin (incl. other income)35.09%
EBITDA margin37.51%
Pre-tax margin22.76%
Net profit margin15.39%
Net margin, latest quarter5.86%
ROE17.96%
ROCE27.32%
ROA4.23%
ROE, 3-year average14.24%
ROCE, 3-year average29.35%
ROA, 3-year average3.15%
ROE, 5-year average0.89%
ROCE, 5-year average18.67%
ROA, 5-year average0.52%
ROIC (approx.)35.58%
Tax rate-14.59%
Other income / net worth35.72%
Growth
Sales growth (latest year)-13.46%
Profit growth (latest year)-41.26%
Sales CAGR, 3 years-1.89%
Sales CAGR, 5 years3.59%
Profit CAGR, 5 years20.85%
Sales growth QoQ58.56%
Profit growth QoQ-59.50%
Sales growth YoY (latest quarter)7.39%
Profit growth YoY (latest quarter)521.29%
Per share
EPS (TTM)Rs 78.54
EPS (latest year)Rs 70.91
EPS (latest quarter)Rs 9.09
EPS, 3-year averageRs 51.62
EPS, 5-year averageRs 5.09
Book value per shareRs 437.00
Sales per shareRs 510.46
Cash flow per shareRs 62.35
Free cash flow per shareRs 24.45
Efficiency
Asset turnover0.30x
Fixed asset turnover1.19x
Inventory turnover98.28x
Inventory days4 days
Debtor days20 days
Debtors turnover17.90x
Cash conversion cycle20 days
Working capital days-476 days
Leverage
Total debtRs 4,937 Cr
Cash and bankRs 2,204 Cr
Net debtRs 2,733 Cr
Debt to equity0.28x
Net debt / EBITDA0.35x
Interest coverage3.89x
Current ratio (filing 2026-03-31)0.17x
Quick ratio (filing 2026-03-31)0.17x
Trade payables (filing 2026-03-31)Rs 17,232 Cr
Owners' fund to total sources25.12%
Debt to assets6.94%
Cash flow
Cash from Operating Activity (latest year)Rs 2,550 Cr
Cash from Investing Activity (latest year)Rs -1,462 Cr
Cash from Financing Activity (latest year)Rs -1,775 Cr
Net Cash Flow (latest year)Rs -686 Cr
Free cash flow (latest year)Rs 1,000 Cr
FCFE (approx.: FCF + change in debt)Rs -424 Cr
Cash from ops / profit, 5 years1.86x
Sales to cash flow8.29x
Statement figures
Net sales (TTM)Rs 20,877 Cr
Net sales (latest year)Rs 21,151 Cr
Sales (latest quarter)Rs 6,344 Cr
Operating profit excl. other income (latest year)Rs 1,038 Cr
Operating profit (latest quarter)Rs -153 Cr
Other income (TTM)Rs 7,221 Cr
EBITDA (TTM)Rs 7,832 Cr
PBDT (TTM)Rs 6,185 Cr
Profit before tax (TTM)Rs 4,752 Cr
Tax (latest year)Rs -627 Cr
Net profit (TTM)Rs 3,212 Cr
Net profit (latest year)Rs 2,900 Cr
Net profit (latest quarter)Rs 372 Cr
Depreciation (TTM)Rs 1,433 Cr
Depreciation (latest quarter)Rs 342 Cr
Interest (TTM)Rs 1,647 Cr
Cost of goods sold (latest year)Rs 14,960 Cr
Total expenditure (latest year)Rs 20,114 Cr
Total income (latest year)Rs 27,536 Cr
Share capitalRs 409 Cr
ReservesRs 17,464 Cr
Shareholders' fundsRs 17,873 Cr
Total assetsRs 71,160 Cr
Net blockRs 17,812 Cr
Capital work in progressRs 1,240 Cr
InvestmentsRs 10,319 Cr
ReceivablesRs 1,182 Cr
InventoryRs 152 Cr
Other liabilitiesRs 48,351 Cr
Shares outstanding (crore)40.90
Ownership
Promoter holding19.05% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 0.6 is at the 6th percentile of its own 5.8-year range (median 3.4, low 0.4, high 32.1).
P/B 0.11 is at the 12th percentile (median 0.46).
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.
PeriodRELINFRANifty 50Difference
1 week+0.8%-2.8% +3.6 pts
1 month-20.2%-6.8% -13.4 pts
3 months-47.8%-7.6% -40.2 pts
6 months-71.2%+0.4% -71.6 pts
1 year-87.8%-9.9% -77.9 pts
2 years-72.2%-13.6% -58.6 pts
3 years-73.2%+14.2% -87.4 pts
5 years-53.3%+27.9% -81.2 pts
3 mutual fund schemes hold about ₹0 Cr. Over three months 0 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Bandhan Nifty 500 Value 50 Index Fund0.00%0
Axis Nifty500 Value 50 Index Fund0.00%0
UTI Nifty 500 Value 50 Index Fund0.00%0

Red flags

F-score 3 of 8
lookProfit leans on other income Other income was 149% of pre-tax profit in 2026
lookRegulator order or action Regulator order or action 2026-08-04: Reliance Infrastructure Limited has informed the Exchange about Action(s) taken or orders passed
lookAuditor change Auditor change 2026-01-24: Reliance Infrastructure Limited has informed the Exchange regarding Change in Auditors of the company.
lookOn NSE surveillance On NSE surveillance: Insolvency
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.

Latest quarter

Jun 2026
Sales ₹6,344 Cr +7.4% vs Jun 2025. Net profit ₹768 Cr +151.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2018-09-12 Annual General Meeting/Dividend Rs 9.50 Per Share
2017-09-14 Annual General Meeting/Dividend - Rs 9/- Per Share
2016-09-15 Annual General Meeting/Dividend - Rs 8.50 Per Share
2015-09-16 Annual General Meeting/ Dividend - Rs 8/- Per Share
2014-09-18Annual General Meeting And Dividend Rs.7.50 Per Share
2013-08-14Annual General Meeting/Dividend Rs 7.4/- Per Share
2012-08-23Annual General Meeting / Dividend Rs 7.30 Per Share
2011-09-15Annual General Meeting And Dividend Rs.7.20 Per Share
2010-12-14Annual General Meeting
2010-05-19Interim Dividend-Rs.7.10 Per Share (Purpose Revised)
2009-07-02Dividend-Rs.7/- Per Share
2008-07-04Agm/Dividend - 63%
2007-06-28Agm/Div-Rs.5.30 Per Sh
2006-05-25Agm/Fin Div-Rs3.80 Per Sh
DateTypeWhat it says
2026-10-01General UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-09-30LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-09-30AgreementsAgreements
2026-09-02LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-22General UpdatesNewspaper Publication Special Window for transfer and dematerialisation of physical shares
2026-08-17LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-14Shareholder meetingVoting results.
2026-08-14Shareholder meetingProceedings of Annual General Meeting held on August 14, 2026
2026-08-14Monitoring Agency ReportReport of the Monitoring Agency for the quarter ended June 30, 2026
2026-08-14Board meeting outcomeReliance Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11General UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-05LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-04Regulatory actionAction(s) taken or orders passed
2026-07-31ResignationResignation of Director/KMP/SMP
2026-07-31Change in ManagementCessation of Shri Ivan Saha as Senior Management Personnel of the Company
2026-07-29LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-29LitigationPendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-07-23General UpdatesLetter sent to Members
2026-07-23Shareholder meetingNotice of Annual General Meeting to be held on August 14, 2026
2026-07-18Regulatory actionAction(s) taken or orders passed
2026-07-11Regulatory actionAction(s) taken or orders passed
2026-07-10AgreementsAgreements
2026-07-09Disclosure under SEBI TakeovRisee Infinity Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India...
2026-07-07General UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-06-23General UpdatesNewspaper Publication Special Window for transfer and dematerialisation of physical shares
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-01-15NCLTMBL Infrastructure Ltd. Vs Reliance Infrastructure Ltd.
2017-08-01NCLATInternational Road Dynamics South Asia Pvt. Ltd. VS Reliance Infrastructure Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Insolvency Resolution Process(IRP)
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03