Reliance Infrastructure Ltd

₹ 414 -0.96%

27 Jun 11:33 a.m.

About

Reliance Infrastructure Ltd. is one of the largest infrastructure companies engaged in developing infrastructure projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads, metro rail and airport in the infrastructure space and the defence sector. The Co. is also a leading utility Company having a presence across the value chain of power businesses i.e. generation, transmission, distribution and power trading. ^[1]

Key Points

Business Segments 9M FY24
Power (91%)- The Power segment is engaged in the generation, transmission and distribution of electrical power at various locations. It operates a 220 MW Combined Cycle Power Plant at Samalkot, a 48 MW Combined Cycle Power Plant at Mormugao, and a 9.39 MW wind farm at Chitradurga. BRPL and BYPL (subsidiaries) distribute the power in the city of Delhi. BRPL caters to around 19 lakh subscribers in South and West Delhi, while BYPL caters to around 30 lakh subscribers in East and Central Delhi.

Website BSE NSE - BE

Market Cap ₹ 16,380 Cr.
Current Price ₹ 414
High / Low ₹ 424 / 170
Stock P/E
Book Value ₹ 150
Dividend Yield 0.00 %
ROCE -1.45 %
ROE -8.18 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 2.76 times its book value
Company has low interest coverage ratio.
The company has delivered a poor sales growth of -30.6% over past five years.
Promoter holding is low: 19.0%
Company has a low return on equity of -8.91% over last 3 years.
Contingent liabilities of Rs.5,082 Cr.
Company has high debtors of 656 days.
Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Utilities Power Power Integrated Power Utilities

Part of BSE SmallCap BSE Allcap BSE Utilities Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	436	196	271	100	243	64	190	63	108	31	62	54	65
	526	258	262	102	466	114	322	109	274	86	124	105	141
Operating Profit	-90	-62	9	-2	-223	-50	-132	-46	-166	-55	-62	-52	-75
OPM %	-21%	-32%	3%	-2%	-92%	-78%	-70%	-72%	-153%	-176%	-101%	-96%	-115%
	203	109	104	65	-2,376	-322	189	50	-709	25	2,275	-3,096	332
Interest	168	156	198	263	185	173	204	168	194	174	128	51	37
Depreciation	13	7	7	7	7	6	4	3	3	3	3	4	4
Profit before tax	-69	-115	-91	-207	-2,791	-551	-150	-166	-1,071	-206	2,082	-3,202	216
Tax %	2%	1%	0%	-1%	-0%	0%	0%	-5%	0%	0%	-0%	0%	0%
	-70	-116	-91	-206	-2,784	-551	-150	-158	-1,071	-206	2,085	-3,203	216
EPS in Rs	-2.66	-4.43	-3.46	-7.17	-79.15	-15.65	-3.79	-4.00	-27.03	-5.21	52.63	-80.85	5.45
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	11,474	10,595	9,932	8,916	1,076	986	1,319	1,689	1,467	810	425	212
	9,559	8,690	8,030	6,871	1,063	7,965	1,348	1,735	1,612	990	729	455
Operating Profit	1,915	1,905	1,902	2,044	13	-6,979	-28	-46	-145	-180	-304	-244
OPM %	17%	18%	19%	23%	1%	-708%	-2%	-3%	-10%	-22%	-72%	-115%
	1,220	1,618	2,460	2,732	3,247	7,211	2,009	1,187	478	-2,195	-880	-464
Interest	996	1,518	2,263	2,641	1,579	1,254	920	1,193	655	802	738	390
Depreciation	342	487	903	930	99	82	65	59	42	27	16	14
Profit before tax	1,797	1,518	1,197	1,205	1,581	-1,104	996	-112	-364	-3,204	-1,938	-1,111
Tax %	12%	-1%	17%	-7%	-5%	-17%	-4%	-83%	1%	-0%	-0%	-0%
	1,588	1,533	994	1,288	1,664	-913	1,031	-19	-368	-3,198	-1,930	-1,108
EPS in Rs	60.38	58.31	37.80	48.99	63.29	-34.73	39.21	-0.73	-14.00	-90.90	-48.73	-27.98
Dividend Payout %	12%	14%	22%	18%	15%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-32%
5 Years:	-31%
3 Years:	-48%
TTM:	-50%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	-19%
TTM:	31%

Stock Price CAGR
10 Years:	1%
5 Years:	64%
3 Years:	65%
1 Year:	111%

Return on Equity
10 Years:	5%
5 Years:	-6%
3 Years:	-9%
Last Year:	-8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	263	263	263	263	263	263	263	263	263	352	396	396
Reserves	21,030	20,924	19,036	20,732	21,722	14,028	10,184	10,113	9,878	7,000	5,911	5,560
	14,842	16,814	20,343	15,637	12,229	6,079	5,701	3,808	3,843	3,372	3,060	478
	12,992	11,569	19,123	20,803	24,573	7,883	7,068	6,560	6,056	6,751	5,702	5,612
Total Liabilities	49,126	49,571	58,764	57,435	58,787	28,252	23,217	20,744	20,039	17,474	15,069	12,046
	5,981	6,718	16,313	16,418	15,934	1,132	1,066	380	325	302	208	210
CWIP	528	984	169	184	217	26	29	17	11	11	2	0
Investments	17,552	18,107	16,194	16,876	18,222	13,606	8,010	7,655	8,435	8,194	7,099	9,499
	25,065	23,762	26,089	23,958	24,414	13,489	14,112	12,693	11,268	8,967	7,760	2,337
Total Assets	49,126	49,571	58,764	57,435	58,787	28,252	23,217	20,744	20,039	17,474	15,069	12,046

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2,334	2,333	5,420	4,735	4,225	-2,626	230	445	-164	532	238	442
	-3,771	-1,503	-6,032	906	2,093	2,533	874	1,051	228	-3	552	-519
	1,524	-922	682	-5,665	-6,385	78	-1,102	-1,513	-50	-280	-958	119
Net Cash Flow	87	-92	69	-24	-68	-15	2	-16	15	249	-168	42

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	150	179	183	207	1,629	1,418	1,136	615	725	608	343	656
Inventory Days												0
Days Payable
Cash Conversion Cycle	150	179	183	207	1,629	1,418	1,136	615	725	608	343	656
Working Capital Days	271	340	207	215	776	2,034	1,746	1,530	1,546	1,537	2,183	-4,222
ROCE %	7%	7%	8%	8%	8%	22%	11%	4%	2%	1%	0%	-1%

Shareholding Pattern

Numbers in percentages

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025
	4.98%	4.56%	18.67%	18.65%	16.56%	16.50%	16.50%	16.50%	16.50%	16.50%	16.50%	19.05%
	3.05%	11.94%	12.30%	12.92%	12.14%	12.69%	11.77%	12.37%	8.38%	9.00%	11.35%	11.00%
	4.96%	3.84%	3.13%	3.06%	2.85%	2.64%	2.16%	2.26%	1.40%	1.34%	1.36%	1.32%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%
	86.81%	79.49%	65.74%	65.22%	68.33%	68.03%	69.42%	68.75%	73.59%	73.01%	70.66%	68.49%
	0.17%	0.16%	0.13%	0.13%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%	0.11%
No. of Shareholders	7,62,545	7,26,465	7,15,006	7,06,968	6,94,313	6,59,168	6,65,729	7,01,583	7,12,104	6,91,842	6,81,395	6,81,395

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Jun 2025
	49.63%	49.54%	40.98%	14.70%	4.98%	4.98%	18.67%	16.50%	16.50%	19.05%
	20.62%	25.33%	30.73%	13.30%	2.75%	1.43%	12.30%	11.77%	11.35%	11.00%
	17.20%	12.85%	8.56%	9.46%	9.45%	4.98%	3.13%	2.16%	1.36%	1.32%
	0.05%	0.05%	0.05%	0.05%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%
	12.32%	12.05%	19.50%	62.32%	82.63%	88.42%	65.74%	69.42%	70.66%	68.49%
	0.18%	0.18%	0.17%	0.17%	0.17%	0.17%	0.13%	0.11%	0.11%	0.11%
No. of Shareholders	10,83,526	8,34,899	7,96,426	7,91,973	7,69,692	7,68,871	7,15,006	6,65,729	6,81,395	6,81,395

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Reliance Infrastructure Ltd

Reliance Infrastructure Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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