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Reliance Industries INR

At a glance: strengths & risks
✓Revenue growing (+10%)✓Profit growing (+16%)

Sector: Refining & telecom

IN_RELIANCE

Price chart

1 309 INRDay 1.71%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 309 INR · 1.71%
Market cap
17714.0 bn INR

Growth

Δ revenue y/y
27.0%
Δ EBITDA y/y
-11.8%

Multiples

P/E (LTM)
21.9x
3y avg: 26.6x
P/B (FY)
2.0x
P/E (ann.)
21.1x
EV/EBITDA (LTM)
11.2x
3y avg: 12.9x
EV/EBITDA (ann.)
12.9x

Cash return

Dividend yield
0.5%
FCF yield (LTM)
3.9%

Value creation

fundamental value/yr, % of market cap
Value created / year
-14.3%
↓ details

Liquidity

Daily turnover (listing)
1.6 bln INR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in T INR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueT INROperating profitT INRD&AT INREBITDAT INRNet profitT INROperating CFT INRCapex + M&AT INRAssetsT INREquityT INRROE (annualized)Net debtT INRSource
2026-06-30Q2 2026 (3M)PARTIAL3.1
y/y 27.0%
0.3
y/y 11.5%
0.1
y/y -56.7%
0.4
y/y -11.8%
0.2
y/y -22.4%
———
y/y —
10.9
y/y 7.6%
8.4%≈ 2.4—
2026-03-31FY 2026 (12M)OK—
y/y 9.6%
—
y/y 7.9%
—
y/y 8.6%
—
y/y 8.1%
—
y/y 16.0%
——21.8
y/y 11.7%
9.0
y/y 7.2%
8.3%2.4—
2025-12-31Q4 2025 (3M)PARTIAL2.6
y/y 10.4%
0.3
y/y 2.6%
-0.3
y/y —
0.4
y/y 18.6%
0.2
y/y 0.6%
———
y/y —
10.5
y/y 10.1%
2.4%≈ 1.5—
2025-09-30Q3 2025 (3M)OK2.5
y/y 10.0%
0.3
y/y 20.2%
0.2
y/y —
0.7
y/y 150.3%
0.2
y/y 9.7%
——20.4
y/y 12.3%
10.5
y/y 10.1%
7.1%1.5Link
2025-06-30Q2 2025 (3M)PARTIAL2.4
y/y 5.1%
0.3
y/y 15.5%
0.2
y/y —
0.4
y/y 75.5%
0.3
y/y 78.3%
———
y/y —
10.1
y/y 9.1%
11.7%≈ 2.5—
2025-03-31FY 2025 (12M)OK—
y/y 7.1%
—
y/y 0.7%
—
y/y 4.5%
—
y/y 1.9%
—
y/y 0.0%
——19.5
y/y 11.1%
8.4
y/y 6.3%
7.7%2.5—
2024-12-31Q4 2024 (3M)PARTIAL2.4
y/y 6.6%
0.3
y/y 10.3%
—
y/y —
0.3
y/y 10.3%
0.2
y/y 7.4%
———
y/y —
9.5
y/y 8.8%
2.6%≈ 1.1Link
2024-09-30Q3 2024 (3M)OK2.3
y/y -0.2%
0.3
y/y -7.8%
—
y/y —
0.3
y/y -7.8%
0.2
y/y -4.8%
——18.2
y/y 7.9%
9.5
y/y 8.8%
7.0%1.1Link
2024-06-30Q2 2024 (3M)PARTIAL2.3
y/y —
0.3
y/y —
—
y/y —
0.3
y/y —
0.2
y/y —
———
y/y —
9.3
y/y —
7.0%≈ 2.3Link
2024-03-31FY 2024 (12M)OK—
y/y 2.6%
—
y/y 9.5%
—
y/y 26.1%
—
y/y 14.2%
—
y/y 4.4%
——17.6
y/y 9.2%
7.9
y/y 10.8%
8.3%2.3—
2023-12-31Q4 2023 (3M)PARTIAL2.3
y/y —
0.3
y/y —
—
y/y —
0.3
y/y —
0.2
y/y —
———
y/y —
8.8
y/y —
2.6%≈ 1.6Link
2023-09-30Q3 2023 (3M)OK2.3
y/y —
0.3
y/y —
—
y/y —
0.3
y/y —
0.2
y/y —
——16.8
y/y —
8.8
y/y —
8.7%1.6Link
2023-03-31FY 2023 (12M)OK8.8
y/y —
1.0
y/y —
0.4
y/y —
1.4
y/y —
0.7
y/y —
1.2-1.416.1
y/y —
7.2
y/y —
—2.8—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

01 000 0002 000 0003 000 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-50%0%50%100%150%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Net debt / cash (INR mln)

0500 0001 000 0001 500 0002 000 0002 500 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 2.28x of reported net profit; after capex, 0.17x.
year20222023202420252026
cash flow / profit1.82x1.73x2.28x2.57x2.38x
accruals, % of assets—-3.0%-5.1%-5.6%-5.1%
net debt / EBITDA 1.2x · capex 2.8x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -14.3%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (389 670 − 441 820) × 4.48
-233 644
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (17 714 042 + 2 370 940) ÷ 1 745 810
11.5x
3. Target multiple
(Current EV/EBITDA + 11) ÷ 2
= (11.5 + 11) ÷ 2
11.3x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 97 910 + 0 + 0 − 0
97 910
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-233 644 × 11.3 + 97 910) ÷ 17 714 042
-14.3%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • FCF (LTM) approximated by latest FY (ended 2026-03-31, before the latest reported period 2026-06-30)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth steady →
Last-year revenue growth +10% vs +7% the year before — a +2.5 pp move. 3-year CAGR +6%.
revenue growth by year: 2024 +3% · 2025 +7% · 2026 +10%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-056 INREx-dividend: 6 INR per sharePaidYahoo Finance (ex-div)
2025-08-145.5 INREx-dividend: 5.5 INR per sharePaidYahoo Finance (ex-div)
2024-08-195 INREx-dividend: 5 INR per sharePaidYahoo Finance (ex-div)
2023-08-214.5 INREx-dividend: 4.5 INR per sharePaidYahoo Finance (ex-div)
2022-08-184 INREx-dividend: 4 INR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Reliance Industries — from primary filings.

Frequently asked questions

What is Reliance Industries's P/E ratio?
Reliance Industries trades at a P/E of 21.9x (price to trailing 12-month earnings).
What is Reliance Industries's EV/EBITDA?
Reliance Industries trades at 11.2x EV/EBITDA.
What is Reliance Industries's P/B ratio?
Reliance Industries trades at a P/B of 2.0x.
What is Reliance Industries's dividend yield?
Reliance Industries's trailing 12-month dividend yield is 0.5%.
What is Reliance Industries's return on equity (ROE)?
Reliance Industries's ROE is 8.4%.
What is Reliance Industries's market capitalization?
Reliance Industries's market cap is 17714.0 bn INR.

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