Reliance Infrastructure Limited (RELINFRA) AI Stock Analysis

• Market Cap: ₹79.06B
• Dividend Yield: N/A
• Average Volume (3M): 125.05K
• Price to Earnings (P/E): 1.5
• Beta (1Y): 2.10
• Revenue Growth: -10.55%
• EPS Growth: -5.08%
• Country: IN
• Employees: 4,604
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): 46.82
• Shares Outstanding: 408,631,200
• 10 Day Avg. Volume: 110,070
• 30 Day Avg. Volume: 125,054
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.72
• Price to Sales (P/S): 0.44
• P/FCF Ratio: 4.46
• 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: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹241.00 ▲(27.75% Upside)

Reliance Infrastructure Limited's stock score is primarily driven by strong financial performance and an attractive valuation, indicating potential for growth. However, technical analysis reveals bearish momentum, which poses a risk to short-term price movements.

Reliance Infrastructure Limited Business Overview & Revenue Model

Company Description

Reliance Infrastructure Limited, an infrastructure company, generates, transmits, and distributes electrical power to residential, industrial, commercial, and other consumers in India. It operates through three segments: Power; Engineering and Construction (E&C); and Infrastructure. The Power segment operates a 220 MW combined cycle power plant at Samalkot; 48 MW combined cycle power plant at Mormugao; and 9.39 MW wind farm at Chitradurga. This segment also distribute power in Delhi; operates a 165 MW combined cycle power plant at Kochi; transmits power through its transmission networks in the states of Himachal Pradesh; and trades in power. The E&C segment offers value added services in construction, erection, commissioning, and contracting. The Infrastructure segment engages in the development, operation, and maintenance of toll roads, metro rail transit system, and airports. The company is involved in the exploration and production of 4 coal bed methane blocks covering an area of 3,266 square kilometers in Madhya Pradesh, Andhra Pradesh, and Rajasthan; an oil and gas block covering an area of 3,619 square kilometers in Mizoram; and rehabilitation and upgradation of NH-66. In addition, it manufactures cement and defense systems; constructs smart city projects; and develops real estate and urban transport systems. Reliance Infrastructure Limited was incorporated in 1929 and is based in Mumbai, India.

How the Company Makes Money

Reliance Infrastructure generates revenue through several key streams, including the development and operation of power projects, which contribute significantly to its earnings. The company engages in the construction and maintenance of roads and highways, earning income through government contracts and toll collections. Additionally, RELINFRA invests in metro rail projects, where it earns revenues from passenger fares and operational efficiencies. Strategic partnerships with government entities and private players enhance its project pipeline and financial viability. The company also benefits from long-term contracts in various sectors, providing a stable revenue base, while ongoing investments in urban infrastructure development align with the growing demand for essential services in rapidly urbanizing regions.

Reliance Infrastructure Limited Financial Statement Overview

Summary

Reliance Infrastructure Limited demonstrates strong revenue growth and profitability improvements, with efficient operational margins. While balance sheet leverage has improved, the lower equity ratio suggests potential risks. Cash flow metrics show positive operational cash generation, but there is a need for enhanced free cash flow conversion.

Income Statement

Reliance Infrastructure Limited has shown a significant recovery in its net income, turning from a loss of -16.09 billion in 2024 to a profit of 49.38 billion in 2025. Revenue growth is strong, with a 10.61% increase from 2024 to 2025. Gross profit margin stands at 37.17%, and net profit margin has improved to 20.57%. The EBIT margin is robust at 32.33%, indicating efficient operations.

Balance Sheet

The company's debt-to-equity ratio improved to 0.44 in 2025, indicating a more stable financial leverage compared to previous years. However, the equity ratio decreased to 21.92%, suggesting a higher proportion of liabilities to assets. Return on equity is strong at 34.22%, reflecting good profitability relative to shareholder investment.

Cash Flow

Free cash flow decreased by 23.97% from 2024 to 2025, despite positive operating cash flow. The operating cash flow to net income ratio is 0.74, indicating the company generates sufficient cash from operations relative to its net income. However, free cash flow to net income ratio is 0.47, suggesting room for improvement in converting net income to free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 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

• Technical Analysis Sentiment: Negative
• Last Price: 188.65
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RELINFRA, the sentiment is Negative. The current price of 188.65 is below the 20-day moving average (MA) of 203.19, below the 50-day MA of 232.45, and below the 200-day MA of 278.89, indicating a bearish trend. The MACD of -15.90 indicates Negative momentum. The RSI at 36.12 is Neutral, neither overbought nor oversold. The STOCH value of 54.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RELINFRA.

Reliance Infrastructure Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TORNTPOWER	75 Outperform	₹657.14B	23.58	―	1.46%	-1.26%	27.83%
CESC	73 Outperform	₹241.59B	16.66	―	3.42%	10.58%	2.69%
POWERGRID	72 Outperform	₹2.59T	17.07	―	3.29%	0.80%	-3.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
NHPC	65 Neutral	₹844.79B	27.62	―	2.38%	15.72%	6.45%
TATAPOWER	65 Neutral	₹1.28T	31.54	―	0.57%	4.06%	8.22%
RELINFRA	63 Neutral	₹79.06B	1.47	―	―	-10.55%	-5.08%

Reliance Infrastructure Limited Corporate Events

Reliance Infrastructure Opens Special Window for Physical Share Transfers

Reliance Infrastructure Limited has announced the opening of a special window for the re-lodgement of transfer requests for physical shares, following a SEBI circular. This window will remain open until January 6, 2026, allowing eligible members to submit their requests. This move is expected to streamline the process of transferring physical shares, potentially impacting the company’s operations by improving shareholder satisfaction and compliance with regulatory requirements.

Reliance Infrastructure Faces SEBI Notice Despite Settlement

Reliance Infrastructure Limited has received a Show Cause Notice from SEBI for an alleged violation of regulations, despite having settled a dispute with CLE Private Limited earlier this year. The company has stated that the settlement was fully implemented in compliance with the Mediation Act, 2023, and it plans to take appropriate legal steps in response to the notice.

Reliance Infrastructure Unaffected by CBI Actions on Sister Companies

Reliance Infrastructure Limited has announced that its operations remain unaffected by the recent Central Bureau of Investigation actions against Reliance Commercial Finance and Reliance Home Finance. The company clarified that there is no impact on its business operations, financial performance, or stakeholders, as the issues concerning RCFL and RHFL have been resolved with a change in management. Anil D. Ambani has not been involved with the boards of these companies or Reliance Infrastructure for several years, ensuring the independence and stability of Reliance Infrastructure’s governance and financial health.

Reliance Infrastructure Unaffected by Reliance Communications Loan Classification

Reliance Infrastructure Limited announced that the recent classification of Reliance Communications’ loan account as fraud by Bank of India does not affect its business operations or stakeholders. The company clarified its independence from Reliance Communications, emphasizing no business or financial linkage, and reiterated its commitment to its business plans and stakeholder value creation.

Reliance Infrastructure Unaffected by CBI Actions on Reliance Communications

Reliance Infrastructure Limited clarified that recent actions by the Central Bureau of Investigation on Reliance Communications Limited and Mr. Anil D Ambani have no impact on its operations, financial performance, or stakeholders. The company emphasized its independence from Reliance Communications, noting that Mr. Ambani has not been on its board for over 3.5 years, and it remains committed to its business plans and stakeholder value.

Reliance Infrastructure Subsidiary Faces Insolvency Proceedings

Reliance Infrastructure Limited has announced that the National Company Law Tribunal, Mumbai bench, has admitted a petition under the Insolvency and Bankruptcy Code against its wholly-owned subsidiary, SU Toll Road Private Limited. The petition, filed by the State Bank of India, involves a claim amount of INR 358.70 crore. Despite this development, Reliance Infrastructure has stated that the company’s exposure is fully provided for, and no financial impact is expected.

Reliance Infrastructure Forms Joint Venture in Bhutan’s Renewable Energy Sector

Reliance Infrastructure Limited has announced the incorporation of a joint venture company, GDL-Reliance Solar Pte Ltd, in Bhutan’s Gelephu Mindfulness City. This venture, a collaboration between Green Digital Private Limited and Reliance Enterprises Private Limited, aims to explore opportunities in the renewable and green energy sector, aligning with global sustainability trends and potentially enhancing the company’s market position in clean energy.