Valuation Reliance Industries Ltd

Equities

RELIANCE

INE002A01018

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. Other stock markets 10:29:33 16/01/2026 GMT			5-day change	1st Jan Change
1,457.90 ^INR	-0.06%		-1.18%	-7.16%

01-16	Ambani's Reliance misses profit view on higher expenses, retail weakness	RE
01-16	Reliance Industries Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2025	CI

Company Valuation: Reliance Industries Ltd

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	12,718,171	16,744,646	14,808,378	20,105,756	16,202,343	19,728,992	-	-
Change	-	31.66%	-11.56%	35.77%	-19.41%	21.77%	-	-
Enterprise Value (EV) ¹	14,781,841	19,045,916	17,208,378	22,379,726	18,612,623	21,931,392	21,666,868	21,122,381
Change	-	28.85%	-9.65%	30.05%	-16.83%	17.83%	-1.21%	-2.51%
P/E ratio	26.6x	29x	23.6x	28.9x	24.8x	23.3x	21.7x	19.4x
PBR	1.84x	2.29x	1.92x	2.53x	2.05x	2.13x	1.94x	1.8x
PEG	-	1.4x	2.77x	6.61x	637.98x	1.1x	2.98x	1.6x
Capitalization / Revenue	2.72x	2.39x	1.68x	2.23x	1.68x	1.94x	1.81x	1.68x
EV / Revenue	3.17x	2.72x	1.96x	2.48x	1.93x	2.15x	1.99x	1.8x
EV / EBITDA	18.3x	17.2x	12x	13.8x	11.3x	11.9x	10.4x	9.14x
EV / EBIT	27.3x	23.6x	16.8x	20.1x	16.6x	16.9x	14.7x	12.9x
EV / FCF	-18.6x	181x	-66.3x	379x	48x	49.5x	35.6x	25.7x
FCF Yield	-5.39%	0.55%	-1.51%	0.26%	2.08%	2.02%	2.81%	3.88%
Dividend per Share ²	3.5	4	4.5	5	5.5	5.042	6.678	7.207
Rate of return	0.35%	0.3%	0.39%	0.34%	0.43%	0.35%	0.46%	0.49%
EPS ²	37.6	45.42	49.3	51.45	51.47	62.64	67.2	75.28
Distribution rate	9.31%	8.81%	9.13%	9.72%	10.7%	8.05%	9.94%	9.57%
Net sales ¹	4,669,240	6,999,620	8,794,680	9,010,640	9,646,930	10,180,953	10,890,178	11,762,496
EBITDA ¹	807,370	1,104,600	1,429,080	1,622,330	1,654,440	1,838,612	2,090,046	2,310,330
EBIT ¹	541,650	806,630	1,025,890	1,114,010	1,123,080	1,298,875	1,473,525	1,633,937
Net income ¹	491,280	607,050	667,020	696,210	696,480	845,175	918,285	1,030,405
Net Debt ¹	2,063,670	2,301,270	2,400,000	2,273,970	2,410,280	2,202,400	1,937,876	1,393,389
Reference price ²	1,001.55	1,317.38	1,165.52	1,485.85	1,275.10	1,457.90	1,457.90	1,457.90
Nbr of stocks (in thousands)	12,698,488	12,710,615	12,705,329	13,531,484	12,706,723	13,532,473	-	-
Announcement Date	30/04/21	06/05/22	21/04/23	22/04/24	25/04/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
RELIANCE INDUSTRIES LTD	23.82x	2.24x	12.16x	0.45%	217B
EXXON MOBIL CORPORATION	18.98x	1.76x	8.24x	3.08%	548B
CHINA PETROLEUM & CHEMICAL CORPORATION	13.43x	0.35x	5.77x	5.29%	96.02B
BP PLC	12.72x	0.65x	3.32x	5.58%	90.84B
VALERO ENERGY CORPORATION	26.58x	0.51x	8.59x	2.46%	55.96B
PHILLIPS 66	22.66x	0.56x	9.39x	3.44%	55.72B
MARATHON PETROLEUM CORPORATION	15.78x	0.62x	7.15x	2.12%	52.79B
IMPERIAL OIL LIMITED	17.29x	1.44x	9.35x	2.07%	48.66B
OIL AND NATURAL GAS CORPORATION LIMITED	7.58x	0.68x	3.91x	4.78%	34.27B
INDIAN OIL CORPORATION LIMITED	8.47x	0.5x	6.36x	4.02%	24.49B
Average	16.73x	0.93x	7.42x	3.33%	122.4B
Weighted average by Cap.	18.72x	1.42x	8.29x	2.94%