Valuation Reliance Industries Ltd

Equities

RELIANCE

INE002A01018

Oil & Gas Refining and Marketing

Market Closed - NSE India S.E. Other stock markets 06:49:46 2025-12-05 am EST			5-day change	1st Jan Change
1,540.60 ^INR	+0.33%		-1.46%	+26.75%

07:57am	S&P Upgrades Reliance Industries to A- on Better Cash Flow, Earnings	MT
03:17am	India weighs greater phone-location surveillance; Apple, Google and Samsung protest	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	20,848,127	-	-
Change	-	31.66%	-11.56%	35.77%	-19.41%	28.67%	-	-
Enterprise Value (EV) ¹	14,781,841	19,045,916	17,208,378	22,379,726	18,612,623	22,949,378	22,722,167	22,255,307
Change	-	28.85%	-9.65%	30.05%	-16.83%	23.3%	-0.99%	-2.05%
P/E ratio	26.6x	29x	23.6x	28.9x	24.8x	24.8x	22.7x	20.4x
PBR	1.84x	2.29x	1.92x	2.53x	2.05x	2.25x	2.06x	1.91x
PEG	-	1.4x	2.77x	6.61x	637.98x	1.2x	2.44x	1.8x
Capitalization / Revenue	2.72x	2.39x	1.68x	2.23x	1.68x	2.06x	1.92x	1.78x
EV / Revenue	3.17x	2.72x	1.96x	2.48x	1.93x	2.27x	2.09x	1.9x
EV / EBITDA	18.3x	17.2x	12x	13.8x	11.3x	12.4x	10.8x	9.57x
EV / EBIT	27.3x	23.6x	16.8x	20.1x	16.6x	17.8x	15.5x	13.6x
EV / FCF	-18.6x	181x	-66.3x	379x	48x	55.5x	39.3x	28.1x
FCF Yield	-5.39%	0.55%	-1.51%	0.26%	2.08%	1.8%	2.54%	3.56%
Dividend per Share ²	3.5	4	4.5	5	5.5	6.527	6.683	7.403
Rate of return	0.35%	0.3%	0.39%	0.34%	0.43%	0.42%	0.43%	0.48%
EPS ²	37.6	45.42	49.3	51.45	51.47	62.04	67.81	75.53
Distribution rate	9.31%	8.81%	9.13%	9.72%	10.7%	10.5%	9.86%	9.8%
Net sales ¹	4,669,240	6,999,620	8,794,680	9,010,640	9,646,930	10,113,542	10,861,080	11,702,881
EBITDA ¹	807,370	1,104,600	1,429,080	1,622,330	1,654,440	1,855,716	2,098,184	2,326,181
EBIT ¹	541,650	806,630	1,025,890	1,114,010	1,123,080	1,286,200	1,463,803	1,634,035
Net income ¹	491,280	607,050	667,020	696,210	696,480	849,963	923,821	1,033,459
Net Debt ¹	2,063,670	2,301,270	2,400,000	2,273,970	2,410,280	2,101,251	1,874,039	1,407,179
Reference price ²	1,001.55	1,317.38	1,165.52	1,485.85	1,275.10	1,540.60	1,540.60	1,540.60
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	4/30/21	5/6/22	4/21/23	4/22/24	4/25/25	-	-	-

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	24.75x	2.26x	12.33x	0.42%	231B
EXXON MOBIL CORPORATION	17.14x	1.6x	7.49x	3.41%	494B
CHINA PETROLEUM & CHEMICAL CORPORATION	12.59x	0.35x	5.77x	5.65%	95.78B
BP PLC	15.43x	0.66x	3.41x	5.29%	95.09B
MARATHON PETROLEUM CORPORATION	15.86x	0.65x	7.48x	1.94%	57.16B
PHILLIPS 66	21.8x	0.57x	9.36x	3.41%	56.18B
VALERO ENERGY CORPORATION	22.29x	0.49x	8.17x	2.57%	53.36B
IMPERIAL OIL LIMITED	16.7x	1.39x	9.03x	2.15%	46.79B
OIL AND NATURAL GAS CORPORATION LIMITED	7.13x	0.67x	3.9x	4.96%	33.93B
INDIAN OIL CORPORATION LIMITED	8.62x	0.5x	6.49x	3.98%	24.95B
Average	16.23x	0.92x	7.34x	3.38%	118.86B
Weighted average by Cap.	18.03x	1.35x	8.02x	3.06%