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: 57 Neutral
• Price Target: ₹157.00 ▲(1.42% Upside)

The overall stock score is primarily influenced by strong financial performance, with significant revenue growth and profitability improvements. However, technical analysis indicates bearish momentum, and valuation metrics suggest the stock is undervalued but lacks a dividend yield. These factors contribute to a moderate overall score.

Positive Factors

Revenue Streams

Reliance Infrastructure's diverse revenue streams from power projects, roads, and metro rail provide a stable and resilient income base, reducing dependency on a single sector and enhancing long-term financial stability.

Operational Efficiency

Strong operational margins reflect efficient cost management and pricing strategies, which are crucial for maintaining profitability and competitive advantage in the infrastructure sector.

Debt Management

Improved debt-to-equity ratio suggests better financial leverage management, enhancing the company's ability to invest in growth opportunities without excessive financial risk.

Negative Factors

Revenue Decline

Despite recent growth, the overall revenue trend shows a decline of -5.77%, indicating potential challenges in sustaining revenue momentum in the long term.

Equity Ratio

A lower equity ratio indicates a higher reliance on debt, which can increase financial risk and limit the company's ability to withstand economic downturns.

Free Cash Flow Conversion

The decline in free cash flow conversion suggests inefficiencies in turning net income into cash, which could impact the company's ability to fund future projects and growth initiatives.

Reliance Infrastructure Limited Business Overview & Revenue Model

Company Description

Reliance Infrastructure Limited (RELINFRA) is a prominent player in the infrastructure sector in India, primarily focusing on the development and operation of infrastructure projects across various segments, including power generation, roads, metro rail, and urban infrastructure. The company is involved in the construction and management of utilities and facilities that cater to the growing needs of the urban population and is known for its commitment to quality and sustainability in infrastructure development.

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: 154.80
• 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 154.8 is below the 20-day moving average (MA) of 169.07, below the 50-day MA of 204.02, and below the 200-day MA of 272.31, indicating a bearish trend. The MACD of -13.46 indicates Negative momentum. The RSI at 31.88 is Neutral, neither overbought nor oversold. The STOCH value of 31.02 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	₹230.65B	15.91	―	3.45%	10.58%	2.69%
POWERGRID	72 Outperform	₹2.59T	17.07	―	3.34%	0.80%	-3.25%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
NHPC	65 Neutral	₹774.47B	24.42	―	2.48%	15.72%	6.45%
TATAPOWER	65 Neutral	₹1.28T	31.54	―	0.58%	4.06%	8.22%
RELINFRA	57 Neutral	₹79.06B	1.47	―	―	-10.55%	-5.08%

Reliance Infrastructure Limited Corporate Events

Reliance Infrastructure Updates Shareholders with Latest Newsletter

Reliance Infrastructure Limited has announced the distribution of a newsletter to its shareholders, which has been sent via email to those with registered email addresses as of November 28, 2025. This newsletter is also accessible on the company’s website, ensuring that shareholders are kept informed of the company’s activities and updates, reflecting its commitment to transparency and stakeholder engagement.

Reliance Infrastructure to Cooperate with SFIO Investigation

Reliance Infrastructure Limited has received a notice from the Serious Fraud Investigation Office (SFIO) dated November 18, 2025, requesting information. The company has committed to fully cooperating with the investigation, which could have implications for its operations and stakeholder confidence.

Reliance Infrastructure Dispatches Postal Ballot Notice for Compliance

Reliance Infrastructure Limited has announced the dispatch of a postal ballot notice as part of its compliance with the Securities and Exchange Board of India’s regulations. This notice, published in Financial Express and Navshakti, provides e-voting information and confirms the completion of the notice dispatch, aligning with the Companies Act and relevant management rules.

Reliance Infrastructure Strengthens Governance with New Board of Management

Reliance Infrastructure has announced the formation of a Board of Management to enhance governance and strategic oversight, aiming to create a more agile and future-ready organization. The company is also focusing on growth opportunities in defense, renewables manufacturing, and power distribution, reflecting its commitment to long-term value creation for stakeholders.

Reliance Infrastructure Seeks Shareholder Approval for Capital Raising

Reliance Infrastructure Limited has announced a postal ballot to seek shareholder approval for the issuance of Foreign Currency Convertible Bonds and other securities. This move is part of the company’s strategy to raise capital for its operations and expansion plans, potentially impacting its financial structure and market positioning.

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.