Valuation Reliance Industries Ltd

Equities

RELIANCE

INE002A01018

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. Other stock markets 06:11:01 14/01/2026 pm IST			5-day change	1st Jan Change
1,458.80 ^INR	+0.41%		-3.24%	-7.11%

14/01	Hithium clarifies recent media reporting on alleged discussions with Reliance Industries	RE
13/01	Indian Equities Fall After Trump Warns of Tariffs on Countries 'Doing Business' with Iran	MT

Company Valuation: Reliance Industries Ltd

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	1,27,18,171	1,67,44,646	1,48,08,378	2,01,05,756	1,62,02,343	1,97,41,171	-	-
Change	-	31.66%	-11.56%	35.77%	-19.41%	21.84%	-	-
Enterprise Value (EV) ¹	1,47,81,841	1,90,45,916	1,72,08,378	2,23,79,726	1,86,12,623	2,17,63,283	2,15,11,591	2,09,05,449
Change	-	28.85%	-9.65%	30.05%	-16.83%	16.93%	-1.16%	-2.82%
P/E ratio	26.6x	29x	23.6x	28.9x	24.8x	24x	21.7x	19.4x
PBR	1.84x	2.29x	1.92x	2.53x	2.05x	2.12x	1.94x	1.8x
PEG	-	1.4x	2.77x	6.61x	637.98x	1.3x	2x	1.7x
Capitalization / Revenue	2.72x	2.39x	1.68x	2.23x	1.68x	1.96x	1.81x	1.67x
EV / Revenue	3.17x	2.72x	1.96x	2.48x	1.93x	2.16x	1.97x	1.77x
EV / EBITDA	18.3x	17.2x	12x	13.8x	11.3x	11.8x	10.3x	9x
EV / EBIT	27.3x	23.6x	16.8x	20.1x	16.6x	17x	14.7x	12.8x
EV / FCF	-18.6x	181x	-66.3x	379x	48x	53.2x	35.6x	25.4x
FCF Yield	-5.39%	0.55%	-1.51%	0.26%	2.08%	1.88%	2.81%	3.94%
Dividend per Share ²	3.5	4	4.5	5	5.5	6.52	6.683	7.21
Rate of return	0.35%	0.3%	0.39%	0.34%	0.43%	0.45%	0.46%	0.49%
EPS ²	37.6	45.42	49.3	51.45	51.47	60.85	67.3	75.15
Distribution rate	9.31%	8.81%	9.13%	9.72%	10.7%	10.7%	9.93%	9.59%
Net sales ¹	46,69,240	69,99,620	87,94,680	90,10,640	96,46,930	1,00,60,460	1,08,93,876	1,18,09,351
EBITDA ¹	8,07,370	11,04,600	14,29,080	16,22,330	16,54,440	18,51,180	20,91,267	23,21,551
EBIT ¹	5,41,650	8,06,630	10,25,890	11,14,010	11,23,080	12,80,240	14,67,968	16,28,180
Net income ¹	4,91,280	6,07,050	6,67,020	6,96,210	6,96,480	8,32,535	9,19,659	10,29,090
Net Debt ¹	20,63,670	23,01,270	24,00,000	22,73,970	24,10,280	20,22,112	17,70,420	11,64,278
Reference price ²	1,001.55	1,317.38	1,165.52	1,485.85	1,275.10	1,458.80	1,458.80	1,458.80
Nbr of stocks (in thousands)	1,26,98,488	1,27,10,615	1,27,05,329	1,35,31,484	1,27,06,723	1,35,32,473	-	-
Announcement Date	30/04/21	06/05/22	21/04/23	22/04/24	25/04/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
RELIANCE INDUSTRIES LTD	23.75x	2.16x	11.74x	0.45%	22TCr
EXXON MOBIL CORPORATION	18.51x	1.72x	8.04x	3.16%	53TCr
CHINA PETROLEUM & CHEMICAL CORPORATION	13.05x	0.36x	5.83x	5.44%	9.73TCr
BP PLC	14.43x	0.67x	3.41x	5.6%	9.05TCr
PHILLIPS 66	22.82x	0.56x	9.33x	3.45%	5.55TCr
VALERO ENERGY CORPORATION	26.34x	0.5x	8.51x	2.47%	5.54TCr
MARATHON PETROLEUM CORPORATION	15.48x	0.62x	7.13x	2.12%	5.29TCr
IMPERIAL OIL LIMITED	16.93x	1.41x	9.16x	2.12%	4.77TCr
OIL AND NATURAL GAS CORPORATION LIMITED	7.48x	0.67x	3.87x	4.85%	3.4TCr
INDIAN OIL CORPORATION LIMITED	8.27x	0.49x	6.26x	4.12%	2.4TCr
Average	16.71x	0.91x	7.33x	3.38%	12.09TCr
Weighted average by Cap.	18.56x	1.38x	8.11x	3%