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Reliance Infrastructure Limited
(RELINFRA)
Reliance Infrastructure Limited (RELINFRA) vs. iShares MSCI India ETF (INDA)
Reliance Infrastructure Limited Business Overview & Revenue Model
Reliance Infrastructure Limited Financial Statement Overview
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 223.07B | 235.92B | 220.67B | 207.42B | 184.11B | 167.05B |
| Gross Profit | 71.54B | 81.33B | 62.65B | 56.39B | 58.37B | 49.38B |
| EBITDA | 45.45B | 54.67B | 38.33B | 31.27B | 32.92B | 61.20B |
| Net Income | 52.31B | 49.38B | -16.09B | -32.21B | -9.99B | 11.25B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 658.41B | 591.81B | 609.93B | 625.33B | 621.63B |
| Cash, Cash Equivalents and Short-Term Investments | 29.84B | 28.81B | 32.52B | 19.02B | 12.36B | 9.15B |
| Total Debt | 0.00 | 63.61B | 98.95B | 115.10B | 127.18B | 139.07B |
| Total Liabilities | -238.13B | 420.28B | 453.23B | 470.40B | 461.98B | 475.28B |
| Stockholders Equity | 238.13B | 144.30B | 87.47B | 92.94B | 124.07B | 108.60B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 23.35B | 30.70B | 21.15B | 29.89B | 4.54B |
| Operating Cash Flow | 0.00 | 36.57B | 40.97B | 34.58B | 37.99B | 14.36B |
| Investing Cash Flow | 0.00 | -17.31B | -4.48B | -13.33B | -5.02B | 4.47B |
| Financing Cash Flow | 0.00 | -12.52B | -36.48B | -22.42B | -29.42B | -15.31B |
Reliance Infrastructure Limited Technical Analysis
Reliance Infrastructure Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹725.04B | 25.60 | ― | 1.48% | -1.26% | 27.83% | |
73 Outperform | ₹204.67B | 19.48 | ― | 3.56% | 10.58% | 2.69% | |
72 Outperform | ₹2.78T | 14.70 | ― | 3.37% | 0.80% | -3.25% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | ₹737.51B | 90.79 | ― | 2.44% | 15.72% | 6.45% | |
65 Neutral | ₹1.23T | 39.28 | ― | 0.59% | 4.06% | 8.22% | |
60 Neutral | ₹36.73B | 152.35 | ― | ― | -10.55% | -5.08% |
Reliance Infrastructure Limited Corporate Events
Reliance Infrastructure has disclosed that the Bombay High Court has delivered a judgment on a petition by the Mumbai Metropolitan Region Development Authority challenging an arbitral award in favour of Mumbai Metro One Private Limited, the company’s metro rail joint venture. The court has partially upheld the earlier award, which related to disputes between the parties over the Mumbai Metro One project.
Under the judgment, after computation and reconciliation, a portion of the funds already deposited by MMRDA with the court is to be released to MMOPL following an eight-week period. Reliance Infrastructure estimates MMOPL will receive about INR 516 crore plus interest from the date of the original award, a development that, once finalized, is expected to strengthen the metro venture’s financial position and could ease cash-flow pressures linked to the disputed project claims.
Reliance Infrastructure Limited has informed exchanges that it has published notices in Financial Express and Navshakti about a special window for shareholders holding physical shares. The initiative follows a SEBI directive and specifically targets securities that were bought or sold before April 1, 2019.
Under the window, which remains open until February 4, 2027, eligible shareholders can complete transfer and dematerialisation of such physical share certificates. The move is aimed at facilitating regulatory compliance and accelerating the shift toward a fully dematerialised shareholding base, reducing operational frictions for both investors and the company.
Reliance Infrastructure Limited has notified the stock exchanges that it has submitted an additional disclosure and declaration in compliance with Industry Standards under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, following up on its earlier disclosure dated January 28, 2026. The company’s Company Secretary, Paresh Rathod, has formally certified that the information provided in Form A under Regulation 30(13) is true, correct and complete, underscoring the firm’s emphasis on regulatory compliance and transparency for its listed securities and stakeholders.
Reliance Infrastructure Limited’s board approved the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, in a meeting held on 31 January 2026, with the results to be published in compliance with Indian listing regulations. The board and its Audit Committee also reviewed the statutory auditors’ intention to resign after completing the FY 2025-26 audit, formally rejecting the reasons cited as incorrect and not legally tenable, while noting the auditors’ offer to continue through the completion of the current year’s audit and advising the company to pursue appropriate legal steps amid ongoing regulatory and investigative scrutiny referenced by the auditors.
Reliance Infrastructure Limited’s board has approved the company’s unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025, with the numbers accompanied by limited review reports from its statutory auditors and slated for publication in line with listing regulations. At the same meeting, the Audit Committee considered the statutory auditors’ notice of intention to resign after completion of the FY 2025‑26 audit, formally disputed the validity and legality of the reasons cited and related regulatory filings, and noted the auditors’ willingness to continue through the year-end audit despite ongoing regulatory investigations and uncertainties flagged in their review report over recovery of certain large exposures and allegations of suspected fraud, signalling potential governance and compliance overhangs for investors and other stakeholders.
Reliance Infrastructure Limited has disclosed that the Enforcement Directorate has provisionally attached its shareholdings in subsidiaries BSES Yamuna Power, BSES Rajdhani Power and Mumbai Metro One Private Limited, valuing the attachment at about Rs 1,575 crore, as part of a broader money-laundering and bank fraud investigation involving various Reliance Anil Ambani Group entities. The ED’s action forms part of cumulative group-wide attachments of roughly Rs 12,000 crore linked to alleged fraudulent diversion of public funds via complex structures involving Reliance group finance companies and Yes Bank exposures, raising fresh uncertainty over Reliance Infrastructure’s key regulated assets and adding to legal and financial risks for the company and its stakeholders, even as the company says it will pursue appropriate legal remedies to protect shareholder interests.
Reliance Infrastructure Limited has disclosed that its existing secretarial auditor, Ajay Kumar & Co., Practicing Company Secretaries, has resigned from the role citing urgent personal problems, with the firm confirming there are no other reasons behind the decision. The resignation, effective January 27, 2026, represents a change in the company’s compliance and governance support structure, and the market will watch for the appointment of a new secretarial auditor to ensure continued adherence to regulatory and disclosure requirements under SEBI’s Listing Regulations.
Reliance Infrastructure Limited has announced that its statutory auditor, Chaturvedi & Shah LLP, has expressed its intention to resign after completing the statutory audit for the financial year ending 31 March 2026, though it has offered to continue for the next two quarters to complete that audit. The auditor’s resignation follows a show cause notice issued by SEBI alleging irregularities including misutilisation and diversion of funds, concealment of the company’s relationship with CLE Private Limited, and suspected fraudulent transactions, as well as related investigations by various authorities. Reliance Infrastructure has strongly disputed the reasons cited for the resignation and the filing of the relevant regulatory form, calling them incorrect and not legally tenable, and has indicated it will pursue appropriate legal steps, setting up a potential confrontation between the company and its long-standing audit firm that could heighten regulatory and investor scrutiny over its governance and financial practices.
India Ratings & Research has downgraded Reliance Infrastructure Limited’s long-term bank loan rating to ‘IND C’, while affirming its short-term rating at ‘IND A4’, citing heightened risks following regulatory and investigative actions against the company. The downgrade stems from an Enforcement Directorate order placing a lien on about INR 778.6 million of the company’s bank accounts under alleged FEMA violations, provisional attachment of non-core properties worth roughly INR 6,690 million under PMLA, and a SEBI show-cause notice for alleged unfair trade practices, developments that the agency believes could constrain Reliance Infrastructure’s operational and financial flexibility; the company, which strongly disputes the rating action as unwarranted and not reflective of its improved credit fundamentals, says it is pursuing legally advised measures while the rating agency continues to monitor the evolving situation and any potential need for cash support to its guaranteed subsidiaries and new business lines.
Reliance Infrastructure Limited has notified the stock exchanges that it has published newspaper notices in Financial Express and Navshakti regarding a special window, open until January 6, 2026, for eligible shareholders to re-lodge transfer requests of physical share certificates in line with a recent SEBI circular. This move is aimed at facilitating compliance with updated securities transfer norms and provides an additional opportunity for shareholders holding physical shares to regularize pending transfers, which may improve share transfer transparency and align the company’s shareholder records more closely with regulatory requirements.
Reliance Infrastructure Limited has announced that its shareholders have approved, via postal ballot and e-voting, key special resolutions enabling the company to issue Foreign Currency Convertible Bonds and other securities and to enhance its borrowing powers. The approvals, confirmed by an independent scrutinizer’s report and disclosed in compliance with SEBI’s listing regulations, give the company expanded flexibility to tap international and domestic capital markets and increase leverage, potentially supporting future funding of infrastructure projects and strengthening its financial toolkit for growth and refinancing, with full voting results made available on the company’s and the e-voting agency’s websites.