Reliance Industries Limited (RELIANCE) AI Stock Analysis

• Market Cap: ₹19.96T
• Dividend Yield: 0.35%
• Average Volume (3M): 667.36K
• Price to Earnings (P/E): 24.0
• Beta (1Y): 1.28
• Revenue Growth: 8.08%
• EPS Growth: 22.36%
• Country: IN
• Employees: 347,362
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 13.40
• Shares Outstanding: 13,532,473,000
• 10 Day Avg. Volume: 749,320
• 30 Day Avg. Volume: 667,355
• PEG Ratio: 626.06
• Price to Book (P/B): 2.01
• Price to Sales (P/S): 1.76
• P/FCF Ratio: 43.76
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 74 Outperform
• Price Target: ₹1,758.00 ▲(10.40% Upside)

Reliance Industries' strong financial performance and bullish technical indicators are key strengths, supporting a positive outlook. However, the high valuation and overbought technical signals present potential risks. The absence of earnings call and corporate events data limits further insights.

Positive Factors

Revenue Growth

The company's robust revenue growth of 10.78% from 2024 to 2025 highlights its expanding market presence and effective business strategies, ensuring long-term financial stability.

Cash Generation

Strong cash generation enhances financial flexibility, allowing the company to invest in growth opportunities, pay down debt, and return capital to shareholders, supporting sustainable operations.

Business Model Diversification

The diversified business model across multiple sectors reduces reliance on any single market, providing resilience against sector-specific downturns and enabling cross-segment synergies.

Negative Factors

Net Profit Margin

A declining net profit margin suggests challenges in cost management or increased expenses, which could impact profitability if not addressed, affecting long-term earnings potential.

Debt Levels

While leverage is managed prudently, maintaining debt levels requires careful monitoring to avoid potential strain on cash flows and ensure continued financial health.

Profitability Challenges

Challenges in achieving higher profitability could limit the company's ability to reinvest in growth initiatives and enhance shareholder value, necessitating strategic cost management.

Reliance Industries Limited Business Overview & Revenue Model

Company Description

Reliance Industries Limited engages in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, textile, retail, digital, and financial services businesses worldwide. The company produces and markets petroleum products, such as liquefied petroleum gas, propylene, naphtha, gasoline, jet/aviation turbine fuel, kerosene oil, diesel, Sulphur, and petroleum coke. It also provides petrochemicals, including high-density and low-density polyethylene (PE), linear low density PE, polyester fibers and yarns, polypropylene, polyvinyl chloride, polyester yarn, purified terephthalic acid, ethylene glycols and oxide, paraxylene, ortho xylene, benzene, linear alkyl benzene and paraffin, poly butadiene rubber, styrene butadiene rubber, butyl rubber, and polyethylene terephthalate. In addition, the company manufactures and markets yarns, fabrics, apparel, and auto furnishings; explores, develops, and produces crude oil and natural gas; and operates various stores comprising neighborhood, supermarket, hypermarket, wholesale cash and carry, specialty, online, pharmacy, and grocery stores, as well as stores that offer apparel, beauty and cosmetics, accessories, footwear, consumer electronics, connectivity products, and others. As of March 31, 2021, it operated 12,711 retail stores. Further, it provides range of digital services under the Jio brand name; and non-banking financial and insurance broking services. Further, it operates news and entertainment platforms, finance portals, fashion and lifestyle portals, and online ticket booking platforms, as well as Network18 and television channels; publishes magazines; and offers highway hospitality and fleet management services. The company was incorporated in 1973 and is based in Mumbai, India.

How the Company Makes Money

Reliance Industries generates revenue through multiple streams. The primary source is its petrochemical and refining operations, which involve the production of various chemicals, plastics, and fuels. The company owns one of the largest oil refineries in the world, allowing it to process crude oil into a range of products. In the telecommunications sector, Jio Platforms has seen explosive growth since its inception, contributing significantly to revenue through data subscriptions and telecom services. The retail segment, which includes grocery, electronics, and apparel, has also become a vital revenue driver, leveraging both physical stores and e-commerce. Additionally, RELIANCE derives revenue from strategic partnerships, such as collaborations with global technology firms for Jio Platforms, as well as investments in digital services and content delivery, enhancing its overall earnings.

Reliance Industries Limited Financial Statement Overview

Summary

Reliance Industries demonstrates strong financial performance with significant revenue growth and improved gross margins. The balance sheet is solid with a stable debt profile and efficient use of equity. Cash flow performance is robust, highlighting the company's capability to generate and manage cash effectively. However, there is room for improvement in net profit margin.

Income Statement

Reliance Industries Limited demonstrates robust revenue growth with a 10.78% increase from 2024 to 2025. Gross profit margin improved significantly, reaching 57.72% in 2025, a strong indicator of operational efficiency. However, net profit margin slightly decreased to 6.98%, indicating a potential area for improvement in cost management or other expenses.

Balance Sheet

The company's debt-to-equity ratio is stable at 0.44, reflecting prudent leverage management. Return on equity is healthy at 8.26%, showcasing effective utilization of shareholder capital. The equity ratio stands at 43.25%, suggesting a balanced asset structure with adequate equity financing.

Cash Flow

Operating cash flow increased to 1.79 trillion, indicating strong cash generation capability. Free cash flow showed a notable recovery, with a growth rate of 556.81% in 2025, highlighting improved financial flexibility. The company's ability to convert earnings to cash remains strong, supporting its operational and financial commitments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.77T	9.65T	9.01T	8.78T	6.96T	4.67T
Gross Profit	2.94T	2.82T	2.65T	2.06T	1.64T	1.28T
EBITDA	1.99T	1.83T	1.79T	1.53T	1.26T	999.40B
Net Income	815.04B	696.48B	696.21B	667.02B	607.05B	491.28B
Balance Sheet
Total Assets	0.00	19.50T	17.56T	16.07T	15.00T	13.21T
Cash, Cash Equivalents and Short-Term Investments	0.00	2.25T	1.54T	1.87T	1.44T	1.70T
Total Debt	0.00	3.70T	3.46T	3.34T	2.82T	2.60T
Total Liabilities	-10.10T	9.40T	8.30T	7.79T	6.11T	5.22T
Stockholders Equity	10.10T	8.43T	7.93T	7.16T	7.79T	7.00T
Cash Flow
Free Cash Flow	0.00	141.57B	-205.45B	-364.83B	-98.88B	-895.66B
Operating Cash Flow	0.00	1.54T	1.32T	1.05T	902.57B	162.71B
Investing Cash Flow	0.00	-1.54T	-1.04T	-1.02T	-1.16T	-1.50T
Financing Cash Flow	0.00	91.33B	6.97B	316.26B	431.88B	1.20T

Reliance Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1592.45
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELIANCE, the sentiment is Negative. The current price of 1592.45 is above the 20-day moving average (MA) of 1546.45, above the 50-day MA of 1533.34, and above the 200-day MA of 1428.87, indicating a neutral trend. The MACD of -8.33 indicates Positive momentum. The RSI at 34.17 is Neutral, neither overbought nor oversold. The STOCH value of 4.84 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RELIANCE.

Reliance Industries Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COALINDIA	77 Outperform	₹2.58T	8.26	―	6.62%	-0.76%	-10.84%
BPCL	76 Outperform	₹1.54T	7.13	―	4.73%	-1.35%	61.80%
OIL	76 Outperform	₹683.50B	11.44	―	2.94%	-1.94%	-28.79%
RELIANCE	74 Outperform	₹19.96T	24.02	―	0.35%	8.08%	22.36%
ONGC	72 Outperform	₹2.95T	8.06	―	5.21%	0.10%	-10.18%
IOC	68 Neutral	₹2.23T	8.73	―	4.90%	-0.93%	42.85%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Reliance Industries Limited Corporate Events

Reliance Industries Cedes Control of Fashion Label Abraham & Thakore to Founders

Reliance Industries Limited has announced that Abraham & Thakore Private Limited, a fashion label previously held as a step‑down subsidiary through Reliance Retail Ventures Limited, has issued equity rights to its founder fashion designers, increasing their stake to 50.91% of voting rights. As a result, operational and voting control of Abraham & Thakore has shifted back to the founders, and the company has ceased to be a subsidiary within the Reliance group, signaling a scaling back of Reliance’s direct control over this particular fashion brand within its broader retail and lifestyle portfolio.

Reliance Industries’ Credit Rating Upgraded by S&P Global

Reliance Industries Limited announced that S&P Global Ratings has upgraded the credit rating for its Senior Unsecured US$ Denominated Fixed Rate Notes from ‘BBB+’ to ‘A-‘ with a stable outlook. This upgrade reflects positively on the company’s financial stability and could enhance its attractiveness to investors, potentially impacting its market positioning and stakeholder confidence.

Supreme Court Dismisses Reliance’s Appeal on Jio-Facebook Deal Disclosure Penalty

Reliance Industries Limited announced that the Supreme Court of India has dismissed its appeal against a penalty imposed by the Securities Appellate Tribunal regarding the disclosure of the Jio-Facebook deal in 2020. This decision may affect the company’s compliance strategies and underscores the importance of transparent communication with stock exchanges, impacting stakeholders’ trust and regulatory relations.

Reliance Industries Acquires Stake in UK Cricket Franchise

Reliance Industries Limited, through its subsidiary Reliance Strategic Business Ventures Limited, has acquired a 49% stake in Oval Invincibles Limited, a cricket franchise in The Hundred tournament, from the England and Wales Cricket Board for GBP 60.27 million. This strategic investment marks Reliance’s entry into the sports franchise sector in the UK, potentially expanding its influence in the sports industry and diversifying its portfolio beyond traditional sectors.

Reliance Industries Restructures Retail Subsidiaries with New Scheme

Reliance Retail Ventures Limited, a subsidiary of Reliance Industries, has implemented a composite scheme of arrangement involving several of its entities, effective December 1, 2025. This restructuring results in the dissolution of Reliance Consumer Products Limited and the creation of a new entity, New RCPL, which becomes an 83.56% direct subsidiary of Reliance Industries. The scheme includes a share allotment process, where shareholders of Reliance Retail Ventures Limited receive shares in the new entity, New RCPL, as part of the demerger of the Consumer Brands Business Undertaking.

Reliance Industries Penalized Rs. 56.44 Crore by CGST

Reliance Industries Limited has been penalized Rs. 56.44 crore by the Joint Commissioner of CGST in Ahmedabad under the Central Goods and Services Tax Act, 2017. The penalty, related to input tax credit classification, does not affect the company’s operations or other activities, and Reliance plans to appeal the decision.

Reliance Industries Engages in Investor Conference with Transparency

Reliance Industries Limited recently participated in the JM Financial India Conference, an institutional investors’ meeting, where company executives engaged in discussions without sharing any unpublished price-sensitive information. This participation highlights Reliance’s ongoing efforts to maintain transparency and engage with investors, reinforcing its commitment to compliance and stakeholder communication.

Reliance Industries’ Credit Rating Reaffirmed by Moody’s

Reliance Industries Limited announced that Moody’s has reaffirmed its ‘Baa2’ credit rating with a ‘Stable’ outlook for the company’s Senior Unsecured US$ Denominated Fixed Rate Notes. This reaffirmation indicates confidence in Reliance’s financial stability and could positively impact investor sentiment, reinforcing its strong position in the industry.

Reliance Industries’ Credit Ratings Reaffirmed by CRISIL

Reliance Industries Limited announced that CRISIL Ratings Limited has reaffirmed its credit ratings, maintaining a ‘CRISIL AAA/Stable’ rating for its non-convertible debentures and long-term bank loan facilities, and a ‘CRISIL A1+’ rating for its commercial paper and short-term bank loan facilities. This reaffirmation reflects the company’s strong financial position and stability, potentially enhancing investor confidence and supporting its continued growth and operations in the competitive market.

Reliance Industries Liquidates Thai Subsidiary

Reliance Industries Limited has announced the voluntary liquidation of its step-down wholly owned subsidiary, REC Systems (Thailand) Co., Ltd., effective October 29, 2025. This decision is in accordance with the Thai Civil and Commercial Code, and as a result, the subsidiary will no longer contribute to the company’s consolidated financials. The impact on Reliance’s overall financial performance is minimal, given that REC Systems (Thailand) Co., Ltd. contributed only 0.00005% to the company’s consolidated turnover and 0.00010% to its net worth in the financial year 2024-25.

Reliance Industries Discusses Q2 2025 Financial Results

Reliance Industries Limited held an analyst meet to discuss its unaudited financial results for the quarter and half-year ending September 30, 2025. The meeting, which included key executives from various divisions, provided insights into the company’s performance across its diverse business segments. The transcript of the discussion is available on the company’s website, offering stakeholders a detailed view of the company’s strategic direction and operational achievements.