NSE/RELIANCE

RELIANCEReliance Industries Ltd

Oil & Gas · NSE

₹1,365+1.62%

52-wk low52-WEEK RANGE52-wk high

₹1,185.35+15.2% from low ·-14.3% from high₹1,592.3

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

RELIANCE+15.16% · 1Y

Range high ₹1,611.8Range low ₹1,168Latest ₹1,365252 bars · daily-close · NSE bhavcopy + 10Y history

Oil & GasOil & Gas Refining & MarketingAmbani GroupLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite13/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return +5.4%
· Below 200-DMA (-4.9%) — downtrend

Valuation

High

Looks expensive vs the sector.

· P/E 22.2 — 86% above sector median 11.9
· PEG 0.82 — growth is priced attractively

Growth

Medium

Steady but not standout growth.

· Revenue YoY +10.4%
· 3Y revenue CAGR +11.5%

Profitability

Low

Profitability is a concern.

· ROE 9.5% — weak returns on equity
· Net margin 3.7% — thin margins

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeD(40/100)

Durability

36/100

Mixed quality signals; requires deeper due diligence.

Show 3 drivers

Piotroski F-score0/1 (0pt)
Debt/Equity0.36 (96pt)
ROE9.5% (38pt)

Valuation

37/100

Trading at a premium — growth must keep delivering to justify.

Show 5 drivers

P/E vs sector (22.2 / 11.9)186% (23pt)
PEG0.82 (70pt)
P/B2.10 (40pt)
Dividend yield0.40% (10pt)
EV/EBITDA12.9 (40pt)

Momentum

48/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change+5.4% (52pt)
DMA-trend alignmentdown (25pt)
RSI (14)50.4 (60pt)
Price vs 200-DMA-5.3% (49pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)22.19

OVERVALUED

CheapestP/E 22.2 at 100th %ile — pricier than 100% of peers.Most expensive

P/B2.10

OVERVALUED

CheapestP/B 2.10 at 92th %ile of sector.Most expensive

EV/EBITDA12.89

FAIR

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Apr +5.58% · Worst: May -0.86%

Jan

-0.5%

55% win

Feb

+0.6%

33% win

Mar

+0.9%

58% win

Apr

+5.6%

75% win

May

-0.9%

45% win

Jun

+4.4%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+1.68%

Median

+0.75%

Std dev

7.64%

Best

+31.6%

Worst

-16.2%

% positive

56%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 0

No standout strengths in the current snapshot

WEAKNESSES · 3

Low return on equity (9.5%)
Below 10% ROE suggests inefficient use of shareholder capital
Premium to sector on P/E (+86%)
P/E 22.2 vs Oil & Gas median 11.9
Weak financial quality (Piotroski 0/1)
Score ≤3 signals multiple concerning accounting trends

OPPORTUNITIES · 1

27% upside to consensus target (₹1732)
33 analysts see fair value materially higher

THREATS · 1

Valuation compression risk
P/E 22.2 is 86% above sector — any growth miss gets punished

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+1.6%

+1.1%

-1.1%

-7.2%

-0.3%

+15.5%

+9.0%

+6.1%

10Y

+18.8%

Fundamentals

VALUATION

Market cap

₹18,44,882 Cr

P/E (TTM)

22.2

P/E (fwd)

20.9

next 12m

P/B

2.10

EV/EBITDA

12.9

Book value

₹648.12

per share

PROFITABILITY · QUALITY

ROE

9.5%

ROCE

—

Net margin

3.7%

Op margin

11.8%

Gross margin

35.8%

D/E

0.36

GROWTH · MARKET

Rev YoY

+10.4%

Profit YoY

+0.6%

Div yield

0.40%

Payout

8.9%

52w change

+5.4%

Beta

0.22

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 1

++27% upside to analyst consensus target33 analysts average target of ₹1732 vs current ₹1363

CONS · 2

−Trades at a premium to sector on P/EP/E 22.2 vs Oil & Gas median 11.9 — priced for more growth than peers
−Low ROE of 9.5%Below the 10%+ threshold most quality-focused investors require

Sector-relative context

Oil & Gas · 12 peers

P/E (TTM)

This stock

22.19

Sector median

11.92

Rank 12/12 (8th %ile)

ROE

This stock

9.5%

Sector median

13.3%

Rank 5/12 (67th %ile)

P/B

This stock

2.10

Sector median

1.43

Rank 11/12 (17th %ile)

Quality score · Piotroski F-score

0 / 1

Too little data to score

—Profitable (positive net income)· Most basic check — company makes money
—Positive return on assets· Assets generate returns
—Positive operating cash flow· Profits are backed by real cash, not accruals
—Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
—Long-term debt decreased YoY· Deleveraging — lower refinancing risk
—ROA improved YoY· Getting more productive with the asset base
—Operating margin expanded YoY· Pricing power or cost discipline
—

Analyst consensus

33 analysts · STRONG_BUY

Target mean

₹1732.03

Target high

₹2020.00

Target low

₹1541.00

Upside vs today

+27.0%

Street consensus target is +27.0% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Oil & Gas Refining & Marketing

Employees

4,03,303

Shares out

1,353.2

Revenue (TTM)

₹10,24,548 Cr

EBITDA

₹1,68,451 Cr

Total debt

₹3,74,593 Cr

Cash

₹2,23,871 Cr

Net debt

₹1,50,722 Cr

Quarterly results

Last 6 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q3	2025-Q4
Revenue	2,31,535	2,39,986	2,61,388	2,43,632	—	2,64,905
Operating profit	26,178	30,608	30,507	29,063	—	31,396
OPM %	11.3%	12.8%	11.7%	11.9%	—

Annual P&L

Last 7 years · ₹ Cr · all line items

Metric	2015-FY	2016-FY	2017-FY	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	3,88,494	2,96,091	3,30,180	6,95,963	8,77,835	9,01,064	9,64,693
Operating profit	—	—	—	78,763	1,02,015	1,11,666	1,12,462
OPM %	—	—	—

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
RELIANCETHIS Reliance Industries Limited	₹1,365	+5.4%	18,44,882	22.2	2.10	9.5%	0.36	+10.4%
ONGC Oil & Natural Gas Corporation Limited	₹284.05	+13.7%	3,56,462	9.4	0.97	10.3%	0.44	+0.8%
IOC Indian Oil Corporation Limited	₹145.88	+5.2%	2,07,399	5.7	1.03	18.1%	0.73	+5.7%
BPCL Bharat Petroleum Corporation Limited	₹312.1	+2.6%	1,37,118	5.5	1.44	26.2%	0.56	+5.2%
GAIL GAIL (India) Limited	₹157.82	-19.2%	1,03,689	12.1	1.18	9.7%	0.25	-4.5%
HINDPETRO Hindustan Petroleum Corporation Limited	₹370.85	-6.1%	80,751	5.2	1.42	27.1%	1.11	+4.1%
OIL Oil India Limited	₹470.1	+18.8%	76,182	13.1	1.35	—	0.58	-0.1%
PETRONET Petronet LNG Limited	₹273.22	-12.9%	40,739	11.2	1.93	—	0.12	-3.3%
GUJGASLTD Gujarat Gas Limited	₹362.8	-19.4%	25,274	21.8	2.89	13.3%	1.19	+5.1%

AMC	Scheme	Value ₹Cr	% of scheme	Shares
SBI Mutual Fund	SBI Bluechip Direct Growth	1,181.9	5.95%	88.00 L

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	14.89	13.78	-7.4%
-2q	14.35	13.42	-6.5%
-3q	15.45	19.95	+29.1%
-4q	12.94	14.34	+10.8%

Date	Amount
2025-08-14	₹5.50
2024-08-19	₹5.00
2023-08-21	₹4.50
2022-08-18	₹4.00
2021-06-11	₹3.50
2020-07-02	₹3.25
2019-08-02	₹3.22
2018-06-27	₹2.97
2017-07-13	₹2.72

Date	Ratio
2024-10-28	2:1
2017-09-07	2:1

Metric	2015-FY	2016-FY	2017-FY	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	—	—	—	6,765	6,766	6,766	13,532
Reserves	—	—	—	2,47,951	2,95,739	3,39,787	3,91,943
Borrowings	—	—	—	2,81,974	3,34,392	3,46,142	3,69,575
Other liabilities	—	—	—	37,792	1,13,766	1,12,752	1,10,051
Total liabilities	—	—	—	14,99,665	16,07,431	17,55,986	19,50,121
Fixed assets	—	—	—	5,77,218	6,94,987	7,67,493	8,61,942
CWIP	—	—	—	76,764	1,24,484	1,61,409	1,78,840
Investments	—	—	—	1,79,594	1,05,460	1,03,561	1,13,586
Other assets	—	—	—	43,370	25,783	26,784	37,197
Total assets	—	—	—	14,99,665	16,07,431	17,55,986	19,50,121

Metric	2015-FY	2016-FY	2017-FY	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	—	—	—	1,10,654	1,15,032	1,58,788	1,78,703
CF Investing	—	—	—	-1,10,103	-91,235	-1,13,581	-1,37,535
CF Financing	—	—	—	17,289	10,455	-16,646	-31,891
Net cash flow	—	—	—	18,781	32,486	28,561	9,277
Free cash flow	—	—	—	10,509	-25,956	5,905	38,736

Metric	2025-FY	2024-FY	2023-FY	2022-FY	2017-FY	2016-FY	2015-FY
OPM %	11.7%	12.4%	11.6%	11.3%	—	—	—
Net margin %	7.2%	7.7%	7.6%	8.7%	—	—	—
ROE %	18.5%	21.5%	23.9%	23.8%	—	—	—
ROCE %	17.5%	19.0%	19.3%	18.0%	—	—	—
Debt / Equity	0.91	1.00	1.11	1.11	—	—	—
Dividend payout %	10%	9%	8%	8%	—	—	—
Interest coverage	5.8×	5.8×	6.0×	6.7×	—	—	—
Revenue growth YoY	+7.1%	+2.6%	+26.1%	+110.8%	+11.5%	-23.8%	—
Profit growth YoY	+0.0%	+4.4%	+9.9%	—	—	—	—

RELIANCEReliance Industries Ltd

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Oil & Gas

Mutual fund holdings

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

SWOT analysis

Recent news

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Mutual fund holdings

Ratios

Peer comparison · Oil & Gas