Reliance Industries Limited (RELIANCE) AI Stock Analysis

• Market Cap: ₹18.78T
• Dividend Yield: 0.4%
• Average Volume (3M): 639.53K
• Price to Earnings (P/E): 23.0
• Beta (1Y): 1.16
• Revenue Growth: 5.54%
• EPS Growth: 18.55%
• Country: IN
• Employees: 347,362
• Sector: Energy
• Sector Strength: 64
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 19.90
• Shares Outstanding: 13,532,473,000
• 10 Day Avg. Volume: 703,970
• 30 Day Avg. Volume: 639,529
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹1,633.54
• Price Target Upside: 17.72% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13

• Rating: 66 Neutral
• Price Target: ₹1,498.00 ▲(7.95% Upside)

Reliance Industries' strong financial performance is the most significant factor, supported by robust revenue growth and cash flow management. However, technical indicators suggest a bearish trend, and the valuation appears high, which could limit upside potential. The lack of earnings call data and corporate events means these factors do not influence the score.

Reliance Industries Limited Business Overview & Revenue Model

Company Description

Reliance Industries Limited (RELIANCE) is a diversified conglomerate based in India, with operations spanning multiple sectors including energy, petrochemicals, textiles, natural resources, retail, and telecommunications. The company is one of the largest publicly traded companies in India and has a significant presence in both domestic and international markets. Its core offerings include oil and gas exploration and production, refining, petrochemicals, retailing, and digital services.

How the Company Makes Money

Reliance Industries Limited generates revenue through several key streams. The company's energy division, which includes oil and gas exploration, refining, and petrochemicals, is one of the largest contributors to its income. Reliance Retail, another significant segment, operates a vast network of retail stores across India, providing a wide array of consumer goods and services. Additionally, Reliance Jio, the telecommunications arm, has become a major player in the Indian telecom market, contributing to the company's revenue through mobile and broadband services. Strategic partnerships and investments, such as those with global tech giants and financial investors, further bolster its financial performance. The company's integrated business model and diverse portfolio allow it to capitalize on synergies across its various segments, enhancing overall profitability.

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 stable with prudent leverage management, and cash flow performance is robust, indicating strong cash generation and financial flexibility. However, the net profit margin shows room for improvement.

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	9.65T	9.65T	9.01T	8.78T	6.96T	4.67T
Gross Profit	2.82T	2.82T	2.65T	2.06T	1.64T	1.28T
EBITDA	1.83T	1.83T	1.79T	1.53T	1.26T	999.40B
Net Income	696.48B	696.48B	696.21B	667.02B	607.05B	491.28B
Balance Sheet
Total Assets	19.50T	19.50T	17.56T	16.07T	15.00T	13.21T
Cash, Cash Equivalents and Short-Term Investments	2.25T	2.25T	2.11T	1.61T	1.53T	1.75T
Total Debt	3.70T	3.70T	3.46T	3.34T	2.82T	2.60T
Total Liabilities	9.40T	9.40T	8.30T	7.79T	6.11T	5.22T
Stockholders Equity	8.43T	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	-318.91B	-318.91B	-166.46B	104.55B	172.89B	1.02T

Reliance Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1387.65
• 50DMA: Negative
• 100DMA: Negative
• 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 Negative. The current price of 1387.65 is below the 20-day moving average (MA) of 1389.86, below the 50-day MA of 1435.88, and above the 200-day MA of 1325.79, indicating a neutral trend. The MACD of -10.38 indicates Negative momentum. The RSI at 37.33 is Neutral, neither overbought nor oversold. The STOCH value of 21.66 is Neutral, 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	₹2.30T	6.93		7.08%	-1.88%	-6.67%
ONGC	72 Outperform	₹2.95T	8.18		5.79%	1.94%	-18.38%
OIL	68 Neutral	₹649.02B	9.89		3.20%	-5.98%	-3.42%
BPCL	67 Neutral	₹1.35T	7.70		3.21%	-1.89%	-8.61%
RELIANCE	66 Neutral	₹18.78T	23.00		0.40%	5.54%	18.55%
Sector *	65 Neutral	$15.47B	7.30	2.96%	5.25%	4.27%	-62.52%
IOC	63 Neutral	₹1.96T	11.34		2.16%	-1.95%	-45.00%

Reliance Industries Limited Corporate Events

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.

Reliance Transforms Jio BLAST into Joint Venture to Boost Esports Presence

Reliance Industries Limited announced that Jio BLAST eSports Private Limited, initially a wholly-owned subsidiary under RISE Worldwide Limited, has transitioned into a joint venture following the allotment of shares to BLAST Esports Limited. This strategic move reduces RISE’s stake in Jio BLAST to 50%, aligning with the company’s joint venture agreement to expand its esports business in India. The transaction, which does not involve related parties or require regulatory approvals, marks a significant step in Reliance’s efforts to strengthen its position in the growing esports industry.