Reliance Industries Limited (RELIANCE) AI Stock Analysis

• Market Cap: ₹19.92T
• Dividend Yield: 0.37%
• Average Volume (3M): 667.36K
• Price to Earnings (P/E): 24.0
• Beta (1Y): 1.17
• 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: ₹1,702.50
• Price Target Upside: 15.17% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 73 Outperform
• Price Target: ₹1,559.00 ▲(5.46% Upside)

Reliance Industries' strong financial performance is the most significant factor, supported by robust revenue growth and cash flow management. Technical analysis indicates a neutral trend, while valuation suggests the stock is fairly priced. The absence of earnings call and corporate events data did not impact the score.

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	2.25T	2.25T	2.03T	1.98T	1.57T	1.83T
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	387.36B	387.36B	59.05B	-259.56B	105.09B	-788.79B
Operating Cash Flow	1.79T	1.79T	1.59T	1.15T	1.11T	269.58B
Investing Cash Flow	-1.38T	-1.38T	-1.14T	-912.35B	-1.10T	-1.42T
Financing Cash Flow	-137.48B	-318.91B	-166.46B	104.55B	172.89B	1.02T

Reliance Industries Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1478.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELIANCE, the sentiment is Positive. The current price of 1478.25 is above the 20-day moving average (MA) of 1445.61, above the 50-day MA of 1406.60, and above the 200-day MA of 1361.79, indicating a bullish trend. The MACD of 25.96 indicates Negative momentum. The RSI at 60.57 is Neutral, neither overbought nor oversold. The STOCH value of 55.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	₹2.33T	7.46	―	5.59%	-0.76%	-10.84%
BPCL	76 Outperform	₹1.62T	7.51	―	4.77%	-1.35%	61.80%
IOC	76 Outperform	₹2.39T	9.37	―	1.77%	-0.93%	42.85%
OIL	76 Outperform	₹704.40B	10.74	―	2.65%	-5.98%	-3.42%
RELIANCE	73 Outperform	₹19.92T	23.97	―	0.37%	8.08%	22.36%
ONGC	72 Outperform	₹3.18T	8.82	―	4.86%	1.94%	-18.38%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Reliance Industries Limited Corporate Events

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.

Reliance Industries Engages with Investors at Jefferies India Forum 2025

Reliance Industries Limited announced that its executives participated in the Jefferies India Forum 2025, an institutional investors’ meeting held in New Delhi. The company clarified that no unpublished price-sensitive information was shared during this event, maintaining transparency and compliance with regulatory standards.

Reliance Industries to Engage with Investors at CITIC CLSA Forum 2025

Reliance Industries Limited announced that its executives will participate in the CITIC CLSA Investors’ Forum 2025 in Hong Kong on September 8 and 9, 2025. The meetings will be conducted on a one-on-one basis, and no unpublished price-sensitive information will be shared. This participation underscores Reliance’s ongoing efforts to engage with institutional investors and maintain transparency in its operations.

Reliance Industries Announces Key Board Appointments

Reliance Industries Limited announced the approval of several key appointments within its board of directors following a postal ballot. The appointments include Anant M. Ambani as a Whole-time Director, Hital R. Meswani’s re-appointment as a Whole-time Director, and Dinesh Kanabar as an Independent Director, all for a term of five years. These appointments, passed with a requisite majority, are expected to strengthen the company’s leadership and strategic direction, potentially impacting its operations and market positioning positively.

Reliance Industries Announces Key Board Appointments

Reliance Industries Limited has announced changes in its board of directors, with the appointment of Anant M. Ambani as a Whole-time Director and Executive Director, and the re-appointment of Hital R. Meswani in the same capacity. Additionally, Dinesh Kanabar has been appointed as an Independent Director. These appointments, approved by a significant majority through e-voting, are expected to strengthen the company’s leadership and strategic direction, potentially impacting its market positioning and stakeholder confidence.