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RE 
Reliance Base case₹2,776per share
Overvalued 4.8%Market price ₹2,917.3
Agentic valuation
Cash-flow value and peer multiples, brought together in one estimate.
Agentic DCF
10-yr free cash flow
₹2,693
Relative value
Peer multiples
₹2,900
Illustrative values · Estimates depend on assumptions and are not investment recommendations.
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Value screener
3 sample matchesMost Undervalued
Base upside ≥ 15%MCap ≥ ₹1K Cr
| Company | Fair value | Upside |
|---|---|---|
| HDFC BankHDFCBANK | ₹858 | +18.0% |
| ITCITC | ₹357 | +28.2% |
| NTPCNTPC | ₹464 | +36.6% |
See where a stock stands.
Explore a company’s 360° profile, then shape the five dimensions to find the examples that meet your minimum scores.
Reliance Industries Limited
THE COMPLETE PICTURE
360° view
Five pillars. One view of the business.
Refineries & Marketing 34/34 metrics scored
Performance profile
Scores out of 100Value 61
How much you pay for what the business earns and owns, compared with similar companies.Quality 59
How well the business uses its money to earn steady profits and bring in cash.Growth 60
How quickly the business is growing its sales and profits over time.Health 55
How comfortably the business can pay its bills and manage its debts.Momentum 42
How the share price has been moving, alongside expectations for future profits. Moderate overall
Use Explore below to see what drives each score.
✦ AI ANALYSISBeyond the numbers
The takeaway
Reliance Industries is a diversified, cash-generative giant with moderate valuations and consistent profitability, but weak recent price momentum and modest returns on capital suggest investors are currently taking a wait-and-see approach.
StockRank's analysis shows Reliance Industries with an overall score of 55/100, indicating moderate strength across most dimensions. The radar chart reveals a relatively balanced profile with Value, Quality, Growth, and Health all clustering in the mid-to-high 50s, while Momentum is clearly the weakest axis at 42/100. According to StockRank's radar, the stock's -4.6% one-year return and muted profit growth are the primary drags on momentum, though quarterly revenue growth and domestic institutional accumulation provide some offset. The high data confidence (34/34 metrics scored) suggests these scores are reliable for comparison against refining and marketing peers.
↗ Strengths
- Exceptional cash flow generation with CFO/NP at 2.38x and consistent profit history
- Diversified revenue streams across energy, retail, telecom, and financial services reduce segment-specific risk
- Zero promoter pledging and strong promoter holding of 50% signal alignment with shareholder interests
↘ Risks to watch
- Muted price momentum with stock trading 18.7% below its 52-week high
- Modest profitability metrics with ROCE and ROE below 10%, limiting returns on capital
- Low cash-to-debt ratio and tight current ratio suggest limited near-term liquidity flexibility
About the business +
Reliance Industries Limited is a diversified Indian conglomerate with operations spanning oil-to-chemicals, oil and gas exploration, retail, digital services, and financial services. The company operates through multiple segments including refining, petrochemicals, consumer retail, telecom under Jio, and media, making it one of India's largest and most diversified businesses by revenue and market capitalization.
The five pillars
From the score to the underlying numbers.
Value
61/100Solid
How cheaply the stock is priced relative to earnings, assets, and cash flows vs peers.
- P/E (TTM)
- 21.94x
- Price / book
- 1.96x
- EV/EBITDA
- 8.25x
- Dividend yield
- 0.88%
- PEG
- 1.37
- Free cash flow yield
- 5.14%
The Value score of 61/100 suggests Reliance is moderately valued relative to its refining and marketing peers. A PE of 21.9x and PEG of 1.37 indicate the stock isn't cheap on earnings multiples, but strong free cash flow yield (5.1%) and reasonable EV/EBITDA of 8.2x provide some support.
Score breakdown
/100Free cash flow yield89
EV/EBITDA66
Industry 92·Universe 55
PEG65
P/B58
Industry 93·Universe 43
Intrinsic upside48
P/E41
Industry 76·Universe 26
Industry and universe figures are percentiles.
Quality
59/100Moderate
Profitability, capital efficiency, and consistency of cash generation.
- ROCE
- 9.17%
- ROE
- 8.93%
- Operating margin
- 16.48%
- Net profit margin
- 9.04%
- Profit consistency
- 100%
- Piotroski
- 5/9
The Quality score of 59/100 reflects a consistently profitable but not exceptional business. Cash conversion is perfect (100/100) and profit consistency is flawless, but ROCE of 9.2% and ROE of 8.9% are modest relative to peers, suggesting returns on capital are the weak point.
Score breakdown
/100Cash conversion100
Consistency100
Operating margin67
Industry 54·Universe 79
Piotroski56
Net profit margin48
Industry 33·Universe 63
ROE41
Industry 45·Universe 38
ROCE32
Industry 37·Universe 27
Median ROCE27
Industry 31·Universe 24
Industry and universe figures are percentiles.
Growth
60/100Moderate
Revenue and earnings growth rates across multiple time horizons.
- Revenue · 5Y CAGR
- 17.8%
- Net profit · 5Y CAGR
- 10.5%
- Revenue · 3Y CAGR
- 6.39%
- Quarterly revenue YoY
- +27.0%
- Quarterly net profit YoY
- -22.4%
- EPS · 3Y CAGR
- 6.59%
The Growth score of 60/100 indicates solid revenue expansion, particularly over five years (17.8% CAGR), but slower recent profit growth. Net profit CAGR over three years of 6.6% and EPS growth of 6.4% suggest earnings growth has moderated, though quarterly revenue growth remains healthy.
Score breakdown
/100Operating cash flow · 3Y growth73
Revenue · 3Y CAGR71
Industry 38·Universe 85
Quarterly revenue YoY64
Revenue · 5Y CAGR58
Industry 76·Universe 50
Net profit · 5Y CAGR53
Industry 51·Universe 54
EPS · 3Y CAGR51
Industry 41·Universe 55
Net profit · 3Y CAGR47
Industry 41·Universe 50
Industry and universe figures are percentiles.
Health
55/100Moderate
Balance sheet strength, leverage, and financial stability.
- Debt / equity
- 0.41
- Interest coverage
- 7.68x
- Current ratio
- 1.10
- Cash / debt
- 0.39
- Promoter pledged
- 0.00%
- Net debt / EBITDA
- 0.94x
The Health score of 54/100 points to a moderately safe balance sheet with some concerns. Debt-to-equity of 0.41 and zero promoter pledging are positives, but the low cash-to-debt ratio (19/100) and current ratio of 1.10 indicate limited liquidity cushion relative to debt obligations.
Score breakdown
/100Promoter pledge100
Promoter holding67
Debt / equity61
Industry 80·Universe 43
Interest coverage49
Industry 48·Universe 51
Current ratio30
Cash / debt19
Industry and universe figures are percentiles.
Momentum
42/100Stretched
Recent price performance, trend strength, and forward expectations.
- 1Y return
- -4.6%
- 3Y return
- +1.7%
- 6M return
- -7.7%
- RSI (14)
- 50.7
- From 52-week high
- -18.7%
- Forward P/E score
- 44/100
The Momentum score of 42/100 is the weakest axis, reflecting price stagnation and softening fundamentals. A -4.6% one-year return, only 1.7% three-year CAGR, and declining operating margin (33/100) show the stock has lost traction, though domestic institutional buying (68/100) provides a partial counterbalance.
Score breakdown
/100Quarterly revenue YoY69
DII accumulation68
Forward P/E discount44
Operating margin change33
3Y return CAGR28
1Y return27
Quarterly net profit YoY25
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