Financials Reliance Industries Ltd

Equities

RELIANCE

INE002A01018

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. 12:40:30 16/07/2024 BST 5-day change 1st Jan Change
3,152 INR -1.31% Intraday chart for Reliance Industries Ltd -0.88% +21.96%

Valuation

Fiscal Period: Marzo 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 8,078,441 6,600,576 12,718,171 16,744,646 14,808,378 21,329,380 - -
Enterprise Value (EV) 1 10,722,741 9,205,546 14,781,841 19,045,916 17,208,378 22,379,726 23,425,011 22,953,646
P/E ratio 20.4 x 17.5 x 26.6 x 29 x 23.6 x 28.9 x 26 x 22.6 x
Yield 0.48% 0.58% 0.35% 0.3% 0.39% 0.34% 0.32% 0.35%
Capitalization / Revenue 1.42 x 1.11 x 2.72 x 2.39 x 1.68 x 2.23 x 2.12 x 1.97 x
EV / Revenue 1.89 x 1.54 x 3.17 x 2.72 x 1.96 x 2.48 x 2.33 x 2.12 x
EV / EBITDA 12.8 x 10.4 x 18.3 x 17.2 x 12 x 13.8 x 12.8 x 11.2 x
EV / FCF -22.4 x 42.7 x -18.6 x 181 x -66.3 x 379 x 44.9 x 45.2 x
FCF Yield -4.47% 2.34% -5.39% 0.55% -1.51% 0.26% 2.23% 2.21%
Price to Book 2.09 x 1.56 x 1.84 x 2.29 x 1.92 x 2.53 x 2.4 x 2.19 x
Nbr of stocks (in thousands) 5,925,869 5,926,443 6,349,244 6,355,308 6,352,664 6,765,862 - -
Reference price 2 1,363 1,114 2,003 2,635 2,331 3,152 3,152 3,152
Announcement Date 18/04/19 30/04/20 30/04/21 06/05/22 21/04/23 22/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,671,350 5,967,430 4,669,240 6,999,620 8,794,680 9,010,640 10,050,353 10,836,028
EBITDA 1 840,210 882,170 807,370 1,104,600 1,429,080 1,622,330 1,829,618 2,044,149
EBIT 1 630,870 660,140 541,650 806,630 1,025,890 1,114,010 1,295,013 1,471,917
Operating Margin 11.12% 11.06% 11.6% 11.52% 11.66% 12.36% 12.89% 13.58%
Earnings before Tax (EBT) 1 552,270 536,060 554,610 841,420 948,010 1,047,270 1,221,520 1,404,176
Net income 1 395,880 393,540 491,280 607,050 667,020 696,210 820,974 945,469
Net margin 6.98% 6.59% 10.52% 8.67% 7.58% 7.73% 8.17% 8.73%
EPS 2 66.80 63.49 75.21 90.85 98.59 102.9 121.2 139.3
Free Cash Flow 1 -478,900 215,570 -796,520 105,090 -259,560 59,050 521,983 507,734
FCF margin -8.44% 3.61% -17.06% 1.5% -2.95% 0.66% 5.19% 4.69%
FCF Conversion (EBITDA) - 24.44% - 9.51% - 3.64% 28.53% 24.84%
FCF Conversion (Net income) - 54.78% - 17.31% - 8.48% 63.58% 53.7%
Dividend per Share 2 6.500 6.500 7.000 8.000 9.000 10.00 10.05 10.99
Announcement Date 18/04/19 30/04/20 30/04/21 06/05/22 21/04/23 22/04/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 - - 1,994,890 1,178,600 1,495,750 1,399,490 1,676,110 - 1,850,270 2,073,750 2,193,040 2,300,550 2,171,640 2,129,450 2,075,590 2,244,905 2,339,886 2,364,334 2,378,766
EBITDA 1 434,670 - 358,200 215,660 233,510 233,680 260,200 493,880 297,060 313,660 379,970 312,240 352,470 384,400 380,930 402,820 399,714 425,679 399,508
EBIT 1 - - - 149,010 163,780 164,850 187,900 - 220,230 233,650 290,510 214,940 250,600 269,840 263,180 284,981 275,692 304,606 265,163
Operating Margin - - - 12.64% 10.95% 11.78% 11.21% - 11.9% 11.27% 13.25% 9.34% 11.54% 12.67% 12.68% 12.69% 11.78% 12.88% 11.15%
Earnings before Tax (EBT) 1 - - - 149,820 163,820 172,700 192,340 - 252,270 224,110 272,360 203,790 230,720 241,140 243,700 261,832 245,871 269,173 249,105
Net income 1 213,660 179,880 228,000 131,010 132,270 122,730 136,800 - 185,490 162,030 179,550 136,560 157,920 192,990 160,110 179,013 171,222 188,230 166,357
Net margin - - 11.43% 11.12% 8.84% 8.77% 8.16% - 10.03% 7.81% 8.19% 5.94% 7.27% 9.06% 7.71% 7.97% 7.32% 7.96% 6.99%
EPS 2 - - 35.02 19.93 20.13 18.63 20.60 - 27.76 23.95 26.54 20.18 23.34 28.52 23.66 27.06 26.52 28.89 25.88
Dividend per Share 2 - - - - 7.000 - - - - 8.000 - - - - 2.180 2.383 2.448 2.330 2.880
Announcement Date 18/10/19 30/04/20 30/10/20 22/01/21 30/04/21 23/07/21 22/10/21 22/10/21 21/01/22 06/05/22 22/07/22 21/10/22 20/01/23 21/04/23 21/07/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 2,644,300 2,604,970 2,063,670 2,301,270 2,400,000 2,273,970 2,095,631 1,624,266
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.147 x 2.953 x 2.556 x 2.083 x 1.679 x 1.402 x 1.145 x 0.7946 x
Free Cash Flow 1 -478,900 215,570 -796,520 105,090 -259,560 59,050 521,983 507,734
ROE (net income / shareholders' equity) 11.6% 9.37% 8.55% 7.82% 8.33% 9.23% 9.57% 9.98%
ROA (Net income/ Total Assets) 4.35% 3.63% 3.95% 4.1% 4.15% 4.14% 5.99% 6.36%
Assets 1 9,093,791 10,841,621 12,435,579 14,794,911 16,065,803 16,817,113 13,703,448 14,864,296
Book Value Per Share 2 653.0 715.0 1,086 1,152 1,214 1,173 1,316 1,440
Cash Flow per Share 2 77.20 158.0 40.10 166.0 170.0 235.0 219.0 241.0
Capex 1 936,260 765,170 1,058,370 1,001,450 1,409,880 1,528,830 1,222,549 1,169,505
Capex / Sales 16.51% 12.82% 22.67% 14.31% 16.03% 16.97% 12.16% 10.79%
Announcement Date 18/04/19 30/04/20 30/04/21 06/05/22 21/04/23 22/04/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
34
Last Close Price
3,152 INR
Average target price
3,245 INR
Spread / Average Target
+2.93%
Consensus
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  4. Financials Reliance Industries Ltd