Reliance Industries Ltd

₹ 2,337 -1.90%
27 Jan - close price
ril.com BSE: 500325 NSE : RELIANCE
About

Reliance Industries Limited is a Fortune 500 company and the largest private sector corporation in India. It has evolved from being a textiles and polyester company to an integrated player across energy, materials, retail, entertainment and digital services. Reliance's products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums. [1]

Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family have about 50% shareholding in the conglomerate.

Key Points

OIL-TO-CHEMICALS SEGMENT (~57% of revenues)[1]
Under the segment, the company primarily refines crude oil to manufacture/ extract transportation fuels, polymers and elastomers, intermediates and polyesters. It has plants and manufacturing assets located across India in Jamnagar, Hazira, Dahej, Nagothane, Vadodara and others. It has a crude refining capacity of 1.4 million barrels per day. It also has the largest single site refinery complex globally. [2] It had a total throughput of ~77 million metric tonnes in FY22 out of which ~89% was meant for sale.[3]

Website BSE NSE
  • Market Cap ₹ 1,581,331 Cr.
  • Current Price ₹ 2,337
  • High / Low ₹ 2,856 / 2,180
  • Stock P/E 38.1
  • Book Value ₹ 712
  • Dividend Yield 0.34 %
  • ROCE 8.43 %
  • ROE 8.64 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 3.28 times its book value
  • The company has delivered a poor sales growth of 11.9% over past five years.
  • Company has a low return on equity of 8.00% over last 3 years.
  • Dividend payout has been low at 13.8% of profits over last 3 years

* 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

Sector: Refineries Industry: Refineries

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
86,529 74,184 47,461 56,287 61,263 80,656 86,147 96,925 111,152 129,479 147,534 137,550 125,987
73,418 62,613 40,350 48,781 52,573 70,463 74,687 84,548 97,257 114,898 125,526 125,563 110,953
Operating Profit 13,111 11,571 7,111 7,506 8,690 10,193 11,460 12,377 13,895 14,581 22,008 11,987 15,034
OPM % 15% 16% 15% 13% 14% 13% 13% 13% 12% 11% 15% 9% 12%
3,714 -527 8,661 4,164 3,500 2,797 3,588 3,769 3,443 3,072 2,531 3,335 2,579
Interest 2,520 4,161 5,251 4,819 3,140 3,001 2,351 2,487 2,301 1,984 2,616 2,916 3,349
Depreciation 2,551 2,685 2,175 2,233 2,209 2,582 2,509 2,705 2,597 2,465 2,251 2,614 2,532
Profit before tax 11,754 4,198 8,346 4,618 6,841 7,407 10,188 10,954 12,440 13,204 19,672 9,792 11,732
Tax % 18% 39% -11% -39% -26% -3% 16% 16% 18% 16% 23% 29% 29%
Net Profit 9,585 2,580 9,294 6,405 8,628 7,617 8,595 9,228 10,167 11,094 15,096 6,915 8,373
EPS in Rs 14.18 3.82 14.66 10.10 13.61 12.02 13.56 14.56 15.03 16.40 22.31 10.22 12.38
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
247,414 329,083 359,195 389,178 328,013 231,743 240,597 289,188 370,744 336,097 245,050 422,413 540,550
209,567 297,049 328,360 358,244 296,377 192,359 197,272 237,430 311,853 283,073 211,542 370,007 476,940
Operating Profit 37,847 32,034 30,835 30,934 31,636 39,384 43,325 51,758 58,891 53,024 33,508 52,406 63,610
OPM % 15% 10% 9% 8% 10% 17% 18% 18% 16% 16% 14% 12% 12%
3,331 7,777 7,950 8,879 8,687 7,784 8,640 8,203 8,785 9,125 19,114 13,779 11,517
Interest 2,328 2,667 3,036 3,206 2,367 2,562 2,723 4,656 9,751 12,105 16,211 9,123 10,865
Depreciation 13,608 11,394 9,465 8,789 8,488 8,590 8,465 9,580 10,558 9,728 9,199 10,276 9,862
Profit before tax 25,242 25,750 26,284 27,818 29,468 36,016 40,777 45,725 47,367 40,316 27,212 46,786 54,400
Tax % 20% 22% 20% 21% 23% 24% 23% 26% 26% 23% -17% 16%
Net Profit 20,286 20,040 21,003 21,984 22,719 27,384 31,425 33,612 35,163 30,903 31,944 39,084 41,478
EPS in Rs 29.05 28.72 30.49 31.88 32.91 39.61 45.31 49.74 52.01 45.70 50.39 57.77 61.31
Dividend Payout % 13% 14% 14% 14% 14% 12% 11% 11% 12% 13% 14% 14%
Compounded Sales Growth
10 Years: 3%
5 Years: 12%
3 Years: 4%
TTM: 44%
Compounded Profit Growth
10 Years: 8%
5 Years: 7%
3 Years: 4%
TTM: 16%
Stock Price CAGR
10 Years: 18%
5 Years: 20%
3 Years: 19%
1 Year: 0%
Return on Equity
10 Years: 10%
5 Years: 9%
3 Years: 8%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
3,273 3,271 3,229 3,232 3,236 3,240 3,251 6,335 6,339 6,339 6,445 6,765 6,766
Reserves 148,267 162,825 176,766 193,842 212,923 250,750 285,058 308,297 398,981 384,875 428,195 464,762 474,686
67,603 68,447 72,427 89,968 97,620 107,104 107,446 116,881 161,720 298,599 224,683 197,439 214,806
65,576 60,597 66,089 80,541 84,006 120,580 150,991 186,012 208,705 281,886 214,350 209,708 192,803
Total Liabilities 284,719 295,140 318,511 367,583 397,785 481,674 546,746 617,525 775,745 971,699 873,673 878,674 889,061
142,707 113,723 109,748 109,406 114,563 147,543 154,578 200,964 203,188 306,478 306,833 239,626 266,700
CWIP 12,228 7,754 19,116 41,716 75,753 110,905 132,741 99,483 111,557 27,965 32,835 34,662 18,495
Investments 37,652 54,008 52,509 86,062 112,573 157,250 192,450 225,222 331,683 491,823 347,285 408,797 420,063
92,132 119,655 137,138 130,399 94,896 65,976 66,977 91,856 129,317 145,433 186,720 195,589 183,803
Total Assets 284,719 295,140 318,511 367,583 397,785 481,674 546,746 617,525 775,745 971,699 873,673 878,674 889,061

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
33,280 26,974 32,995 42,160 35,285 43,447 51,450 62,000 29,191 77,533 -512 67,491
-20,333 -3,046 -14,797 -64,013 -55,998 -41,223 -54,949 -59,109 -53,949 -143,583 74,257 -45,315
725 -11,465 -8,249 5,530 -940 -6,903 -1,639 -1,914 25,795 70,767 -76,657 -6,035
Net Cash Flow 13,672 12,463 9,949 -16,323 -21,653 -4,679 -5,138 977 1,037 4,717 -2,912 16,141

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 26 20 12 10 5 6 8 13 12 8 6 12
Inventory Days 57 48 51 47 50 63 75 71 60 58 78 52
Days Payable 66 53 55 64 75 123 151 160 119 106 180 151
Cash Conversion Cycle 16 15 8 -6 -19 -54 -67 -76 -48 -40 -96 -87
Working Capital Days -6 8 -6 -7 -27 -106 -118 -136 -72 -198 -45 -44
ROCE % 13% 12% 11% 11% 10% 11% 10% 12% 11% 9% 6% 8%

Shareholding Pattern

Numbers in percentages

3 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
50.07 50.37 50.49 50.54 50.58 50.59 50.61 50.61 50.66 50.62 50.56 50.49
24.08 24.75 25.23 25.18 25.66 25.11 25.41 24.75 24.23 23.90 23.58 23.48
13.78 13.58 13.15 12.90 12.62 13.09 13.20 13.62 14.23 14.67 14.91 15.26
0.20 0.21 0.20 0.20 0.20 0.18 0.18 0.17 0.17 0.17 0.16 0.16
11.87 11.10 10.93 11.19 10.94 11.03 10.60 10.85 10.71 10.64 10.78 10.59

* 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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