Company Valuation: Reliance Industries Ltd

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 6,600,576 12,718,171 16,744,646 14,808,378 20,105,756 19,887,237 - -
Change - 92.68% 31.66% -11.56% 35.77% -1.09% - -
Enterprise Value (EV) 1 9,205,546 14,781,841 19,045,916 17,208,378 22,379,726 22,066,854 21,669,712 21,236,564
Change - 60.58% 28.85% -9.65% 30.05% -1.4% -1.8% -2%
P/E ratio 17.5x 26.6x 29x 23.6x 28.9x 25.1x 21.5x 19.6x
PBR 1.56x 1.84x 2.29x 1.92x 2.53x 2.21x 2.03x 1.87x
PEG - 1.4x 1.4x 2.77x 6.61x 1.8x 1.3x 2.07x
Capitalization / Revenue 1.11x 2.72x 2.39x 1.68x 2.23x 2.01x 1.87x 1.75x
EV / Revenue 1.54x 3.17x 2.72x 1.96x 2.48x 2.23x 2.04x 1.87x
EV / EBITDA 10.4x 18.3x 17.2x 12x 13.8x 12.3x 10.7x 9.38x
EV / EBIT 13.9x 27.3x 23.6x 16.8x 20.1x 17.8x 15x 13.2x
EV / FCF 42.7x -18.6x 181x -66.3x 379x 48.6x 41.8x 26.2x
FCF Yield 2.34% -5.39% 0.55% -1.51% 0.26% 2.06% 2.39% 3.82%
Dividend per Share 2 6.5 7 8 9 10 9.957 10.92 12.14
Rate of return 0.58% 0.35% 0.3% 0.39% 0.34% 0.34% 0.37% 0.41%
EPS 2 63.49 75.21 90.85 98.59 102.9 116.9 136.9 149.9
Distribution rate 10.2% 9.31% 8.81% 9.13% 9.72% 8.52% 7.97% 8.1%
Net sales 1 5,967,430 4,669,240 6,999,620 8,794,680 9,010,640 9,894,334 10,615,083 11,378,935
EBITDA 1 882,170 807,370 1,104,600 1,429,080 1,622,330 1,794,676 2,031,549 2,264,283
EBIT 1 660,140 541,650 806,630 1,025,890 1,114,010 1,239,710 1,440,363 1,603,836
Net income 1 393,540 491,280 607,050 667,020 696,210 792,789 930,996 1,042,052
Net Debt 1 2,604,970 2,063,670 2,301,270 2,400,000 2,273,970 2,179,617 1,782,475 1,349,327
Reference price 2 1,113.75 2,003.10 2,634.75 2,331.05 2,971.70 2,939.35 2,939.35 2,939.35
Nbr of stocks (in thousands) 5,926,443 6,349,244 6,355,308 6,352,664 6,765,742 6,765,862 - -
Announcement Date 4/30/20 4/30/21 5/6/22 4/21/23 4/22/24 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

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P/E ratio EV / Sales EV / EBITDA Yield (Y) Capi. ($)
25.14x2.23x12.3x+0.34%238B
7.26x0.32x4.93x+9.11%101B
9.84x0.59x3.01x+5.61%88.43B
14.18x0.58x6.93x+2.01%55.67B
14.88x0.51x9.08x+3.38%55.48B
12.92x0.38x6.49x+3.07%44.43B
10.42x0.96x6.25x+2.55%36.33B
9.89x0.44x7.11x+4.22%27.18B
9.93x0.4x7.42x+4.14%16.83B
4.47x0.32x2.13x+7.78%15.54B
Average 11.89x 0.67x 6.57x +4.22% 67.86B
Weighted average by Cap. 15.70x 1.11x 8.02x +3.43%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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