Valuation Reliance Industries Ltd

Equities

RELIANCE

INE002A01018

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. Other stock markets 12:05:09 13/05/2026 BST			5-day change	1st Jan Change
1,358.80 ^INR	-0.38%		-5.50%	-13.47%

05-12	Reliance Industries May Offer Only Fresh Shares in Jio IPO to Limit Capital Outflows	MT
05-11	India to shrink zones around nuclear reactors to free up land, sources say	RE

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	18,388,014	-	-
Change	-	31.66%	-11.56%	35.77%	-19.41%	13.49%	-	-
Enterprise Value (EV) ¹	14,781,841	19,045,916	17,208,378	22,379,726	18,612,623	20,761,702	20,683,337	20,168,962
Change	-	28.85%	-9.65%	30.05%	-16.83%	11.55%	-0.38%	-2.49%
P/E ratio	26.6x	29x	23.6x	28.9x	24.8x	22.5x	21.3x	18.8x
PBR	1.84x	2.29x	1.92x	2.53x	2.05x	1.99x	1.86x	1.71x
PEG	-	1.4x	2.77x	6.61x	637.98x	1.4x	5.77x	1.4x
Capitalization / Revenue	2.72x	2.39x	1.68x	2.23x	1.68x	1.72x	1.61x	1.52x
EV / Revenue	3.17x	2.72x	1.96x	2.48x	1.93x	2.06x	1.81x	1.66x
EV / EBITDA	18.3x	17.2x	12x	13.8x	11.3x	11.3x	10.2x	8.96x
EV / EBIT	27.3x	23.6x	16.8x	20.1x	16.6x	16.3x	14.6x	12.7x
EV / FCF	-18.6x	181x	-66.3x	379x	48x	46.5x	31.2x	27.4x
FCF Yield	-5.39%	0.55%	-1.51%	0.26%	2.08%	2.15%	3.21%	3.65%
Dividend per Share ²	3.5	4	4.5	5	5.5	6.216	6.774	7.468
Rate of return	0.35%	0.3%	0.39%	0.34%	0.43%	0.46%	0.5%	0.55%
EPS ²	37.6	45.42	49.3	51.45	51.47	59.69	63.93	72.36
Distribution rate	9.31%	8.81%	9.13%	9.72%	10.7%	10.1%	10.6%	10.3%
Net sales ¹	4,669,240	6,999,620	8,794,680	9,010,640	9,646,930	10,572,190	11,396,450	12,127,805
EBITDA ¹	807,370	1,104,600	1,429,080	1,622,330	1,654,440	1,789,490	2,018,828	2,251,031
EBIT ¹	541,650	806,630	1,025,890	1,114,010	1,123,080	1,212,610	1,412,003	1,589,535
Net income ¹	491,280	607,050	667,020	696,210	696,480	807,750	868,105	996,133
Net Debt ¹	2,063,670	2,301,270	2,400,000	2,273,970	2,410,280	2,373,688	2,295,323	1,780,949
Reference price ²	1,001.55	1,317.38	1,165.52	1,485.85	1,275.10	1,358.80	1,358.80	1,358.80
Nbr of stocks (in thousands)	12,698,488	12,710,615	12,705,329	13,531,484	12,706,723	13,532,539	-	-
Announcement Date	30/04/21	06/05/22	21/04/23	22/04/24	25/04/25	24/04/26	-	-

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	22.12x	2.07x	11.29x	0.46%	193B
EXXON MOBIL CORPORATION	13.52x	1.67x	7.28x	2.76%	624B
BP PLC	8.18x	0.58x	2.89x	4.64%	114B
CHINA PETROLEUM & CHEMICAL CORPORATION	11.4x	0.3x	4.85x	6.25%	88.41B
SUNCOR ENERGY INC.	9.95x	1.81x	5.08x	2.67%	78.43B
MARATHON PETROLEUM CORPORATION	9.1x	0.71x	6.2x	1.62%	73.57B
VALERO ENERGY CORPORATION	8.51x	0.59x	5.8x	1.94%	73.38B
PHILLIPS 66	9.91x	0.59x	7.2x	2.88%	70.34B
IMPERIAL OIL LIMITED	12.93x	1.56x	8.37x	1.9%	64.3B
OIL AND NATURAL GAS CORPORATION LIMITED	8.73x	0.76x	4.43x	4.26%	38.71B
Average	11.44x	1.06x	6.34x	2.94%	141.84B
Weighted average by Cap.	13.11x	1.37x	7.03x	2.71%