Reliance Infrastructure Limited (IN:RELINFRA)
:RELINFRA
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Reliance Infrastructure Limited
(RELINFRA)
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Rating:61Neutral
Price Target:
₹91.00
▼(-44.78% Downside)
Action:Reiterated
Date:06/09/26
The score is driven primarily by mixed financial performance—materially improved leverage but weaker FY2026 operating profitability and sharply lower free cash flow. Valuation is a meaningful positive due to the very low P/E, while technicals are mixed with overbought signals and the price still below longer-term moving averages.
Positive Factors
Improved leverage (debt-to-equity 0.28x)
A substantially lower debt-to-equity ratio materially reduces balance-sheet risk and interest burden, giving management more flexibility to fund bids, capex, or working capital from equity rather than expensive debt. This structural improvement supports resilience across project cycles and access to financing.
Negative Factors
Sharp deterioration in free cash flow
A nearly 70% fall in free cash flow undermines internal funding capacity, forcing greater reliance on external financing or asset sales to support working capital and project bonds. Persistently weak cash conversion would constrain bids, maintenance capex, and dividend capacity, risking longer-term growth plans.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved leverage (debt-to-equity 0.28x)
A substantially lower debt-to-equity ratio materially reduces balance-sheet risk and interest burden, giving management more flexibility to fund bids, capex, or working capital from equity rather than expensive debt. This structural improvement supports resilience across project cycles and access to financing.
Read all positive factors
Reliance Infrastructure Limited (RELINFRA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹33.42B
Dividend YieldN/A
Average Volume (3M)125.05K
Price to Earnings (P/E)1.1
Beta (1Y)2.03
Revenue Growth-13.36%
EPS Growth-43.08%
CountryIN
Employees4,604
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)77.06
Shares Outstanding408,631,200
10 Day Avg. Volume110,070
30 Day Avg. Volume125,054
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.16
Price to Sales (P/S)0.14
P/FCF Ratio7.51
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Reliance Infrastructure Limited Business Overview & Revenue Model
Company Description
Reliance Infrastructure Limited (RInfra), an Indian enterprise founded in Mumbai in 1929, is a multifaceted infrastructure company with a primary focus on producing, transmitting, and supplying electrical power to a wide range of residential, indu...
How the Company Makes Money
RELINFRA makes money primarily through (1) revenue earned from executing infrastructure and power-sector EPC contracts and related project services (typically recognized based on contract progress/milestones), where earnings depend on contract siz...
Reliance Infrastructure Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
66
Positive
Cash Flow
45
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 212.83B | 204.41B | 235.92B | 220.67B | 207.42B | 184.11B |
| Gross Profit | 66.16B | 32.47B | 81.33B | 62.65B | 56.39B | 58.37B |
| EBITDA | 57.60B | 10.04B | 54.67B | 38.33B | 31.27B | 32.92B |
| Net Income | 30.60B | 29.00B | 49.38B | -16.09B | -32.21B | -9.99B |
Balance Sheet | ||||||
| Total Assets | 697.09B | 711.60B | 658.41B | 591.81B | 609.93B | 625.33B |
| Cash, Cash Equivalents and Short-Term Investments | 36.38B | 23.52B | 28.81B | 32.52B | 19.02B | 12.36B |
| Total Debt | 57.37B | 49.37B | 63.61B | 98.95B | 115.10B | 127.18B |
| Total Liabilities | 426.11B | 420.72B | 420.28B | 453.23B | 470.40B | 461.98B |
| Stockholders Equity | 169.10B | 178.73B | 144.30B | 87.47B | 92.94B | 124.07B |
Cash Flow | ||||||
| Free Cash Flow | 12.55B | 3.77B | 23.35B | 30.70B | 21.15B | 29.89B |
| Operating Cash Flow | 12.55B | 20.71B | 36.57B | 40.97B | 34.58B | 37.99B |
| Investing Cash Flow | -4.40B | -15.32B | -17.31B | -4.48B | -13.33B | -5.02B |
| Financing Cash Flow | -7.69B | -10.36B | -12.52B | -36.48B | -22.42B | -29.42B |
Reliance Infrastructure Limited Technical Analysis
Positive
164.80
Price Trends
77.72
Positive
88.95
Negative
145.58
Negative
Market Momentum
2.48
Negative
60.53
Neutral
10.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELINFRA, the sentiment is Positive. The current price of 164.8 is above the 20-day moving average (MA) of 76.92, above the 50-day MA of 77.72, and above the 200-day MA of 145.58, indicating a neutral trend. The MACD of 2.48 indicates Negative momentum. The RSI at 60.53 is Neutral, neither overbought nor oversold. The STOCH value of 10.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RELINFRA.
Reliance Infrastructure Limited Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
65 Neutral | ₹98.76B | 15.20 | ― | 0.82% | 94.55% | 93.38% | |
64 Neutral | ₹2.72T | 13.63 | ― | 3.37% | 2.05% | 2.63% | |
63 Neutral | ₹223.96B | 14.74 | ― | 3.56% | 9.23% | 12.18% | |
61 Neutral | ₹33.42B | 1.15 | ― | ― | -13.36% | -43.08% | |
57 Neutral | ₹723.76B | 30.23 | ― | 1.48% | -0.68% | -21.43% | |
51 Neutral | ₹1.28T | 34.32 | ― | 0.59% | -4.66% | -5.65% |
* Utilities Sector Average
IN:RELINFRA
Reliance Infrastructure Limited
81.87
-296.28
-78.35%
IN:CESC
CESC Ltd
168.95
10.66
6.73%
IN:GENUSPOWER
Genus Power Infrastructures Limited
324.60
-29.47
-8.32%
IN:POWERGRID
Power Grid Corporation of India Limited
292.40
11.29
4.01%
IN:TATAPOWER
Tata Power Company Limited
402.10
9.10
2.32%
IN:TORNTPOWER
Torrent Power Limited
1,436.30
38.37
2.74%
Reliance Infrastructure Limited Corporate Events
Reliance Infrastructure Rebrands Subsidiaries to Drive New AI Strategy
Jun 8, 2026
Reliance Infrastructure Limited has initiated a strategic move to participate in the rapidly evolving field of artificial intelligence and allied new-age technologies. Through its subsidiaries, the company is integrating AI and technology-driven a...
Reliance Infrastructure to Appeal Confirmed Rs 77.86 Crore Bank Account Lien
Jun 7, 2026
Reliance Infrastructure Limited has disclosed that a lien has been confirmed on the company’s bank accounts amounting to Rs. 77.86 crore, in compliance with Securities and Exchange Board of India listing regulations. The company has announce...
Reliance Infrastructure Seeks Easing of IBC-Linked Trading Curbs to Protect Retail Investors
Jun 7, 2026
Reliance Infrastructure Limited has asked the Securities and Exchange Board of India and the major stock exchanges to review the Insolvency and Bankruptcy Code-linked surveillance and Additional Surveillance Measure frameworks applied to its share...
Reliance Infrastructure Assigns Key Executives to Oversee Market Disclosure Materiality
May 23, 2026
Reliance Infrastructure has updated stock exchanges on the key managerial personnel authorised to assess the materiality of corporate events and make mandated disclosures under SEBI’s Listing Obligations and Disclosure Requirements. The comp...
Reliance Infrastructure Warrants Lapse After Non‑Conversion
Apr 29, 2026
Reliance Infrastructure Limited has announced that 7.96 crore outstanding warrants issued by the company have lapsed after warrant holders did not opt for conversion within the prescribed 18‑month period. The lapse also results in forfeiture...
Reliance Infrastructure Warrants Lapse After Non‑Conversion
Apr 24, 2026
Reliance Infrastructure Limited has announced that 3.35 crore outstanding warrants issued by the company have lapsed after not being converted within the prescribed 18‑month period. The lapse also entails forfeiture of the amounts already pa...
Reliance Infrastructure Opens Special Window for Legacy Physical Share Transfers
Apr 24, 2026
Reliance Infrastructure Limited has informed stock exchanges that it has published notices in Financial Express and Navshakti regarding a special window for shareholders holding physical share certificates. The initiative follows a SEBI circular a...
Reliance Infrastructure to Appeal Confirmation of Asset Attachment, Says Operations Unaffected
Apr 21, 2026
Reliance Infrastructure Limited has disclosed that certain company assets have been placed under provisional attachment, and this attachment has now been confirmed by the relevant authorities under SEBI’s Listing Obligations and Disclosure R...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.