RELIANCE INDUSTRIES LIMITED Financials Reliance Industries Limited Berne S.E.
Equities
RLI
US7594701077
Oil & Gas Refining and Marketing
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End-of-day quote
Other stock markets
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5-day change | 1st Jan Change | ||
| 62.06 CHF | +3.61% |
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-.--% | -.--% |
| 28/06 | INDIA STOCKS-Indian shares off record highs but post best month in 2024 | RE |
| 28/06 | Indian Equities Fall on Friday, Dragged Mainly by Banking Stocks | MT |
Valuation
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 80,78,441 | 66,00,576 | 1,27,18,171 | 1,67,44,646 | 1,48,08,378 | 2,11,82,561 | - | - |
| Enterprise Value (EV) 1 | 1,07,22,741 | 92,05,546 | 1,47,81,841 | 1,90,45,916 | 1,72,08,378 | 2,23,79,726 | 2,33,83,762 | 2,29,72,374 |
| P/E ratio | 20.4 x | 17.5 x | 26.6 x | 29 x | 23.6 x | 28.9 x | 25.8 x | 22.6 x |
| Yield | 0.48% | 0.58% | 0.35% | 0.3% | 0.39% | 0.34% | 0.32% | 0.35% |
| Capitalization / Revenue | 1.42 x | 1.11 x | 2.72 x | 2.39 x | 1.68 x | 2.23 x | 2.11 x | 1.96 x |
| EV / Revenue | 1.89 x | 1.54 x | 3.17 x | 2.72 x | 1.96 x | 2.48 x | 2.33 x | 2.12 x |
| EV / EBITDA | 12.8 x | 10.4 x | 18.3 x | 17.2 x | 12 x | 13.8 x | 12.8 x | 11.3 x |
| EV / FCF | -22.4 x | 42.7 x | -18.6 x | 181 x | -66.3 x | 379 x | 47 x | 46.4 x |
| FCF Yield | -4.47% | 2.34% | -5.39% | 0.55% | -1.51% | 0.26% | 2.13% | 2.16% |
| Price to Book | 2.09 x | 1.56 x | 1.84 x | 2.29 x | 1.92 x | 2.53 x | 2.38 x | 2.18 x |
| Nbr of stocks (in thousands) | 59,25,869 | 59,26,443 | 63,49,244 | 63,55,308 | 63,52,664 | 67,65,862 | - | - |
| Reference price 2 | 1,363 | 1,114 | 2,003 | 2,635 | 2,331 | 3,131 | 3,131 | 3,131 |
| Announcement Date | 18/04/19 | 30/04/20 | 30/04/21 | 06/05/22 | 21/04/23 | 22/04/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 56,71,350 | 59,67,430 | 46,69,240 | 69,99,620 | 87,94,680 | 90,10,640 | 1,00,48,154 | 1,08,13,627 |
| EBITDA 1 | 8,40,210 | 8,82,170 | 8,07,370 | 11,04,600 | 14,29,080 | 16,22,330 | 18,31,157 | 20,38,682 |
| EBIT 1 | 6,30,870 | 6,60,140 | 5,41,650 | 8,06,630 | 10,25,890 | 11,14,010 | 12,95,013 | 14,65,341 |
| Operating Margin | 11.12% | 11.06% | 11.6% | 11.52% | 11.66% | 12.36% | 12.89% | 13.55% |
| Earnings before Tax (EBT) 1 | 5,52,270 | 5,36,060 | 5,54,610 | 8,41,420 | 9,48,010 | 10,47,270 | 12,12,623 | 13,88,617 |
| Net income 1 | 3,95,880 | 3,93,540 | 4,91,280 | 6,07,050 | 6,67,020 | 6,96,210 | 8,26,757 | 9,48,792 |
| Net margin | 6.98% | 6.59% | 10.52% | 8.67% | 7.58% | 7.73% | 8.23% | 8.77% |
| EPS 2 | 66.80 | 63.49 | 75.21 | 90.85 | 98.59 | 102.9 | 121.1 | 138.8 |
| Free Cash Flow 1 | -4,78,900 | 2,15,570 | -7,96,520 | 1,05,090 | -2,59,560 | 59,050 | 4,97,662 | 4,95,565 |
| FCF margin | -8.44% | 3.61% | -17.06% | 1.5% | -2.95% | 0.66% | 4.95% | 4.58% |
| FCF Conversion (EBITDA) | - | 24.44% | - | 9.51% | - | 3.64% | 27.18% | 24.31% |
| FCF Conversion (Net income) | - | 54.78% | - | 17.31% | - | 8.48% | 60.19% | 52.23% |
| Dividend per Share 2 | 6.500 | 6.500 | 7.000 | 8.000 | 9.000 | 10.00 | 9.985 | 10.96 |
| Announcement Date | 18/04/19 | 30/04/20 | 30/04/21 | 06/05/22 | 21/04/23 | 22/04/24 | - | - |
1INR in Million2INR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: March | 2020 S1 | 2020 S2 | 2021 S1 | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | 19,94,890 | 11,78,600 | 14,95,750 | 13,99,490 | 16,76,110 | - | 18,50,270 | 20,73,750 | 21,93,040 | 23,00,550 | 21,71,640 | 21,29,450 | 20,75,590 | 22,44,905 | 23,39,886 | 23,64,334 | - |
| EBITDA 1 | 4,34,670 | - | 3,58,200 | 2,15,660 | 2,33,510 | 2,33,680 | 2,60,200 | 4,93,880 | 2,97,060 | 3,13,660 | 3,79,970 | 3,12,240 | 3,52,470 | 3,84,400 | 3,80,930 | 4,02,820 | 3,99,714 | 4,25,679 | - |
| EBIT 1 | - | - | - | 1,49,010 | 1,63,780 | 1,64,850 | 1,87,900 | - | 2,20,230 | 2,33,650 | 2,90,510 | 2,14,940 | 2,50,600 | 2,69,840 | 2,63,180 | 2,84,981 | 2,75,692 | 3,04,606 | 2,78,192 |
| Operating Margin | - | - | - | 12.64% | 10.95% | 11.78% | 11.21% | - | 11.9% | 11.27% | 13.25% | 9.34% | 11.54% | 12.67% | 12.68% | 12.69% | 11.78% | 12.88% | - |
| Earnings before Tax (EBT) 1 | - | - | - | 1,49,820 | 1,63,820 | 1,72,700 | 1,92,340 | - | 2,52,270 | 2,24,110 | 2,72,360 | 2,03,790 | 2,30,720 | 2,41,140 | 2,43,700 | 2,61,832 | 2,45,871 | 2,69,173 | - |
| Net income 1 | 2,13,660 | 1,79,880 | 2,28,000 | 1,31,010 | 1,32,270 | 1,22,730 | 1,36,800 | - | 1,85,490 | 1,62,030 | 1,79,550 | 1,36,560 | 1,57,920 | 1,92,990 | 1,60,110 | 1,79,013 | 1,71,222 | 1,88,230 | - |
| Net margin | - | - | 11.43% | 11.12% | 8.84% | 8.77% | 8.16% | - | 10.03% | 7.81% | 8.19% | 5.94% | 7.27% | 9.06% | 7.71% | 7.97% | 7.32% | 7.96% | - |
| EPS 2 | - | - | 35.02 | 19.93 | 20.13 | 18.63 | 20.60 | - | 27.76 | 23.95 | 26.54 | 20.18 | 23.34 | 28.52 | 23.66 | 27.06 | 26.52 | 28.89 | - |
| Dividend per Share 2 | - | - | - | - | 7.000 | - | - | - | - | 8.000 | - | - | - | - | 2.180 | 2.383 | 2.448 | 2.330 | 2.880 |
| Announcement Date | 18/10/19 | 30/04/20 | 30/10/20 | 22/01/21 | 30/04/21 | 23/07/21 | 22/10/21 | 22/10/21 | 21/01/22 | 06/05/22 | 22/07/22 | 21/10/22 | 20/01/23 | 21/04/23 | 21/07/23 | - | - | - | - |
1INR in Million2INR
Estimates
Balance Sheet Analysis
| Fiscal Period: March | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 26,44,300 | 26,04,970 | 20,63,670 | 23,01,270 | 24,00,000 | 22,73,970 | 22,01,201 | 17,89,813 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 3.147 x | 2.953 x | 2.556 x | 2.083 x | 1.679 x | 1.402 x | 1.202 x | 0.8779 x |
| Free Cash Flow 1 | -4,78,900 | 2,15,570 | -7,96,520 | 1,05,090 | -2,59,560 | 59,050 | 4,97,662 | 4,95,565 |
| ROE (net income / shareholders' equity) | 11.6% | 9.37% | 8.55% | 7.82% | 8.33% | 9.23% | 9.69% | 10% |
| ROA (Net income/ Total Assets) | 4.35% | 3.63% | 3.95% | 4.1% | 4.15% | 4.14% | 5.99% | 6.36% |
| Assets 1 | 90,93,791 | 1,08,41,621 | 1,24,35,579 | 1,47,94,911 | 1,60,65,803 | 1,68,17,113 | 1,37,99,980 | 1,49,16,542 |
| Book Value Per Share 2 | 653.0 | 715.0 | 1,086 | 1,152 | 1,214 | 1,173 | 1,315 | 1,438 |
| Cash Flow per Share 2 | 77.20 | 158.0 | 40.10 | 166.0 | 170.0 | 235.0 | 218.0 | 237.0 |
| Capex 1 | 9,36,260 | 7,65,170 | 10,58,370 | 10,01,450 | 14,09,880 | 15,28,830 | 12,22,549 | 11,69,505 |
| Capex / Sales | 16.51% | 12.82% | 22.67% | 14.31% | 16.03% | 16.97% | 12.17% | 10.82% |
| Announcement Date | 18/04/19 | 30/04/20 | 30/04/21 | 06/05/22 | 21/04/23 | 22/04/24 | - | - |
1INR in Million2INR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
34
Last Close Price
3,131
INR
Average target price
3,204
INR
Spread / Average Target
+2.33%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +23.72% | 100B | |
| +1.94% | 97.66B | |
| +6.03% | 59.85B | |
| +20.58% | 51.26B | |
| +23.58% | 36.52B | |
| +27.55% | 27.36B | |
| +9.55% | 19.21B | |
| -19.70% | 19B | |
| +34.89% | 15.82B |
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