RELIANCE · NSE · Refineries & Marketing
Reliance Industries Ltd
What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · by market cap · Vendor sector: Energy
No valuation view.No valuation within 120 days; no P/E against peers, so no view.
Statements through FY2026Price adjustment not completeNot yet reviewed by the adversarial model
Share price
₹1,158.90
−1.0% today
−14.9% over 1 year · NSE close, data as of 12 Oct 2026
Month-end closes not available
Month-end closes, adjusted for splits and bonuses
52-week range1% of the way up
Low ₹1,153High ₹1,612
Is Reliance Industries overvalued?
No valuation view yet. No valuation within 120 days; no P/E against peers, so no view.
Valuation
Latest price and trailing 12 months
P/E
21.19
Industry 15.76
Price divided by last year's earnings per share: how many years of today's profit you pay for.
P/B
3.21
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet.
Market cap
₹15.84 lakh Cr
Total market value of all shares, in ₹ crore.
Dividend yield
0.5%
Last year's dividends as a share of today's price.
PEG (vendor)
Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow.
PEG on our 3-year EPS growth
2.10
P/E divided by the 3-year EPS growth rate from the stored accounts.
Is Reliance Industries a quality business?
Quality score 53.2; WATCH on 30 of 30 flags judged.
Quality and risk
Data as of 12 Oct 2026
Business quality
Not available
The kind of business, which sets the yardstick it is judged by.
Quality score
53.2
among 5627 companies
Returns, margins, leverage and consistency against its peers, out of 100.
Risk level
WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings.
Profitability
ROE
7.9%
Return on equity: profit as a share of shareholders' money.
ROCE
7.6%
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity.
Profit margin
6.5%
Profit after everything, as a share of revenue.
EPS
₹70.65
Trailing 12 months
Profit for each share over the last 12 months.
What this page does not tell you
What could not be judged, and why. Never empty.
- Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 0 of 36 months of P/E history.
- FlagsWATCH on 30 of 30 flags judged; 1 red.
- History breakDemerger 2023-07-20 in the 5-year growth figures: those figures span the accounts before and after it.
- Data gapsPEG (vendor), Business quality, Wealth destroyer, P/E vs own history: not available yet.
Has Reliance Industries made money for shareholders?
Not over these periods: −14.9% over one year and −1.2% a year over five years.
Shareholder returns
1-year return
−14.9%
Price only
What the share price did over the last 12 months.
5-year return
−1.2% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted.
Wealth destroyer
Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid.
Returns
3Y and 5Y are yearly averages
1W
−1.4%1M
−5.3%3M
−9.8%6M
−11.0%1Y
−14.9%3Y
+1.2%5Y
−1.2%Is Reliance Industries growing?
Revenue 3 years 6.9% a year; profit 3 years 6.6% a year; revenue 5 years 9.8% a year. History break: demerger 2023-07-20 in the 5-year growth figures.
Growth
Statements through FY2026 (Mar-26)
Revenue 3 years
6.9% a year
Compound annual growth of revenue over three years.
Profit 3 years
6.6% a year
Compound annual growth of net profit over three years.
Revenue 5 years
9.8% a year
Compound annual growth of revenue over five years.
↯
History break: Demerger 2023-07-20 in the 5-year growth figures.
Profit 5 years
4.2% a year
Compound annual growth of net profit over five years.
↯
History break: Demerger 2023-07-20 in the 5-year growth figures.
EPS 3 years
10.1% a year
Growth in earnings per share, so dilution counts against the company.
EPS 5 years
12.0% a year
Growth in earnings per share over five years, so dilution counts against the company.
↯
History break: Demerger 2023-07-20 in the 5-year growth figures.
P/E vs own history
Not available
Today's P/E against its own 5-year median; negative is cheaper than its history.
↯
History break: Demerger 2023-07-20 in the 5-year growth figures.
How does Reliance Industries compare with its peers?
The peer set is built overnight and is not ready yet.
What does Reliance Industries do and what is it sensitive to?
Reliance Industries Limited is a diversified conglomerate with operations across oil-to-chemicals refining and petrochemicals, oil and gas exploration and production, retail (physical stores and digital commerce), digital telecommunications services, and media and entertainment. Sensitive to: crude oil and feedstock prices.
Business-model card
FY2025 · 62 verified
5Revenue
6Channels
2Regulators
3Reg. dependencies
9Sensitivities
8Costs
2Geographies
Reliance Industries Limited is a diversified conglomerate with operations across oil-to-chemicals refining and petrochemicals, oil and gas exploration and production, retail (physical stores and digital commerce), digital telecommunications services, and media and entertainment. It earns revenue through integrated value chains in energy, consumer retail, connectivity, and content.
Revenue by segment
year ended 31st March, 2025 (Consolidated)
O2C59.5%
Retail31.1%
Digital Services4.8%
Others4.6%
Revenue engine
5 verified
Oil to Chemicals (O2C) segment (61.8%)
Refining, petrochemicals, and fuel retailing through integrated refinery, cracker and downstream manufacturing with world-class assets, logistics and supply-chain infrastructure
Retail segment (29.7%)
Multi-channel retail through integrated network of physical stores, digital commerce, and new commerce platforms across consumption baskets of consumer electronics, grocery, fashion and lifestyle, connectivity
Digital Services segment (13.4%)
Telecommunications and digital platforms serving 488 million+ subscribers with connectivity, consumer digital services, enterprise offerings, and AI infrastructure
2 more statements
Oil and Gas segment
Exploration, development and production of crude oil and natural gas from deep and ultra-deepwater reserves and coal bed methane blocks
Others segment
Includes Media & Entertainment platform with 400+ million daily viewers across entertainment, sports, news, OTT, digital, television, content production and films
Customers & channels
6 verified
Retail: registered customer base of 349 million
Consumers across India purchasing through omni-channel network of 19,340 stores and digital platforms
Digital Services: 488 million+ subscribers
Consumers and enterprises using telecommunications, broadband, digital services, content and AI-related offerings
Digital Services: Media & Entertainment reaches 400+ million daily viewers
Audiences consuming content across entertainment, sports, news, OTT platforms
3 more statements
Retail: Metro business serves HoReCa and Trader channels
Business-to-business sales to hotels, restaurants, catering and merchant trade outlets
Consumer Brands: General Trade channel
Distribution through merchant outlets nationwide for FMCG products
O2C: Fuel retailing through Reliance BP Mobility Limited
Consumer fuel retail at gas stations
Regulators
2 verified
Ministry of Petroleum & Natural Gas / Directorate General of Hydrocarbons (Oil & Gas)
Governs exploration, development and production of oil and gas including production sharing contracts, field operations and reserve management
GAIL (India) Limited (Oil & Gas pool account management)
Manages gas pool account for differential revenue collection on gas sales from D1D3 field
Regulatory dependencies
3 verified
Production Sharing Contract (PSC) terms and interpretation
Cost allowances and revenue recognition under PSCs for oil and gas blocks affect profitability; disputes on cost disallowance and interpretation of PSC provisions reduce cash flow from O&G segment
Retail real estate and commercial regulations
High-quality real estate availability and rental costs are subject to local zoning and commercial regulations; upward pressure on rentals constrains retail margin expansion
Digital Services spectrum allocation and telecom licensing
5G, broadband and fixed wireless services operate under spectrum licenses and telecom regulations; unforeseen disruptions in global technology supply chain and regulatory changes affect deployment and returns
Sensitivities
9 verified
Crude oil and feedstock prices
O2C segment exposed to commodity price volatility; depreciation in crude and feedstock prices reduces refining and petrochemical input costs but lowers product prices; tightening heavy crude supply increases costs
Transportation fuel and downstream chemical margins
Refining and chemical product margins contract when global supply is in surplus; global overcapacity in PP, PE, polyester pressures margins; Chinese incremental supply additions suppress chemical margins
Foreign currency exchange rates
Rupee depreciation increases landed cost of foreign currency liabilities; exposure on account of various assets and liabilities denominated in currencies other than Indian Rupee
6 more statements
Interest rates (USD and INR)
High interest rates for USD and INR borrowings increase finance costs; 1% increase in interest rates reduces equity impact by ₹331 crore and P&L impact by ₹764 crore
Domestic consumption and disposable income
Retail and consumer brands growth depends on consumption demand; macro-prudential credit tightening moderated personal credit growth to 16% from 27%, softening consumption in first half; festive season and events revive demand
Indian GDP growth
Demand for downstream chemical products expected to grow ahead of GDP growth rate; slowdown from 9.2% to 6.5% moderates consumption and investment demand
Freight costs and logistics
Increased freight exposure threatens margin stability especially in European and US markets; freight volatility affects product netback positioning
Advertising market sensitivity to economic cycles
Media & Entertainment advertising revenue sensitive to broader economic shifts and corporate spending
Liquidity and funding conditions
Tight liquidity conditions can impact rollover of maturing liabilities; FPI outflows tightened liquidity in second half requiring RBI rate cuts
Cost inputs
8 verified
Crude oil and feedstock
Primary raw material for O2C refining and petrochemical production; prices highly volatile; company hedges commodity price risk through OTC and exchange-traded derivatives
Electric Power, Fuel and Water
Manufacturing operational cost; totaled ₹23,823 crore for consolidated group in FY2024-25, up from ₹22,137 crore
Stores, Chemicals and Packing Materials
Manufacturing operational cost; totaled ₹8,057 crore for consolidated group, down from ₹9,011 crore
5 more statements
Labour Processing, Production Royalty and Machinery Hire Charges
Manufacturing operational cost; totaled ₹5,382 crore consolidated, up from ₹3,547 crore
Network Operating Expenses and Access Charges (Digital Services)
Telecom operational costs including network maintenance and interconnection charges; totaled ₹31,323 crore network ops and ₹1,281 crore access charges in FY2024-25
Programming and Telecast Related Expenses (Media & Entertainment)
Content acquisition and production costs; totaled ₹11,489 crore, up from ₹6,325 crore, driven by sports rights and original content
Warehousing and Distribution Expenses (Retail)
Supply chain and logistics cost; totaled ₹12,922 crore consolidated, up from ₹11,992 crore
Purchase of Goods and Services
Procurement from suppliers including MSMEs, national and international suppliers; totaled ₹162,687 crore for subsidiaries and ₹3,363 crore from associates
Geographies
2 verified
Within India (64.1%)
Domestic market revenue of ₹6,86,534 crore (64% of total external turnover); primary consumption market for retail, digital services, media; refining and petrochemical production asset base
Outside India (35.9%)
International markets represent ₹3,84,640 crore (36% of external turnover); includes petroleum product exports, petrochemical sales, oil and gas operations, and global supply chain reach
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.
What changed recently?
Q1 FY2027 results filed (17 Jul 2026).
Change log
8 entries · newest first
- Results filedQ1 FY2027 results filed.
- Corporate actionDividend - Rs 6 Per Share.
- Results filedQ4 FY2026 results filed.
- Results filedQ3 FY2026 results filed.
- Results filedQ2 FY2026 results filed.
- Corporate actionDividend - Rs 5.5 Per Share.
- Results filedQ1 FY2026 results filed.
- Results filedQ4 FY2025 results filed.
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What this page rests on
✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results○285 months of month-end prices, adjustment pending (2 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 62 verified
Questions people ask
Is Reliance Industries Ltd a large cap, mid cap or small cap?
Reliance Industries Ltd (RELIANCE) is a large cap company. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.
What is Reliance Industries Ltd's P/E ratio?
21.19, Industry 15.76. Price divided by last year's earnings per share: how many years of today's profit you pay for.
How does Reliance Industries Ltd make money?
Reliance Industries Limited is a diversified conglomerate with operations across oil-to-chemicals refining and petrochemicals, oil and gas exploration and production, retail (physical stores and digital commerce), digital telecommunications services, and media and entertainment. It earns revenue through integrated value chains in energy, consumer retail, connectivity, and content.
Is this investment advice?
No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.