Reliance Industries Ltd

Reliance Industries Ltd

₹ 2,955 0.84%
14 Jun - close price
About

Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has 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]

  • Market Cap 19,99,330 Cr.
  • Current Price 2,955
  • High / Low 3,030 / 2,220
  • Stock P/E 28.7
  • Book Value 1,173
  • Dividend Yield 0.30 %
  • ROCE 10.0 %
  • ROE 9.23 %
  • Face Value 10.0

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 2.52 times its book value
  • Company has a low return on equity of 8.71% 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

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
149,575 139,949 167,611 185,027 207,375 218,855 229,409 216,737 212,834 207,559 231,886 225,086 236,533
126,224 116,618 141,591 155,321 176,009 181,157 198,438 181,728 174,478 169,466 190,918 184,430 194,017
Operating Profit 23,351 23,331 26,020 29,706 31,366 37,698 30,971 35,009 38,356 38,093 40,968 40,656 42,516
OPM % 16% 17% 16% 16% 15% 17% 14% 16% 18% 18% 18% 18% 18%
4,048 4,219 4,263 7,016 2,602 2,275 3,656 3,377 2,996 3,889 3,899 4,022 4,634
Interest 4,044 3,397 3,819 3,812 3,556 3,997 4,554 5,201 5,819 5,837 5,731 5,789 5,761
Depreciation 6,973 6,883 7,230 7,683 8,001 8,942 9,726 10,183 11,452 11,775 12,585 12,903 13,569
Profit before tax 16,382 17,270 19,234 25,227 22,411 27,034 20,347 23,002 24,081 24,370 26,551 25,986 27,820
Tax % 8% 20% 20% 19% 20% 28% 24% 23% 11% 25% 25% 24% 24%
14,995 13,806 15,479 20,539 18,021 19,443 15,512 17,806 21,327 18,258 19,878 19,641 21,243
EPS in Rs 20.86 19.36 21.58 27.42 23.95 26.54 20.19 23.34 28.53 23.67 25.71 25.52 28.01
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
395,957 433,521 374,372 272,583 303,954 390,823 568,337 596,679 466,307 698,672 876,396 901,064
362,802 398,586 336,923 230,802 257,647 326,508 484,087 507,413 385,517 588,077 734,078 738,831
Operating Profit 33,155 34,935 37,449 41,781 46,307 64,315 84,250 89,266 80,790 110,595 142,318 162,233
OPM % 8% 8% 10% 15% 15% 16% 15% 15% 17% 16% 16% 18%
7,757 8,865 8,528 12,212 9,222 9,869 8,406 8,570 22,432 17,928 12,020 16,444
Interest 3,463 3,836 3,316 3,691 3,849 8,052 16,495 22,027 21,189 14,584 19,571 23,118
Depreciation 11,232 11,201 11,547 11,565 11,646 16,706 20,934 22,203 26,572 29,797 40,303 50,832
Profit before tax 26,217 28,763 31,114 38,737 40,034 49,426 55,227 53,606 55,461 84,142 94,464 104,727
Tax % 20% 22% 24% 23% 25% 27% 28% 26% 3% 19% 22% 25%
20,886 22,548 23,640 29,861 29,833 36,080 39,837 39,880 53,739 67,845 74,088 79,020
EPS in Rs 30.31 32.62 34.14 43.03 43.11 53.39 58.55 58.20 77.50 89.74 98.59 102.90
Dividend Payout % 13% 12% 12% 10% 11% 10% 10% 10% 9% 9% 9% 10%
Compounded Sales Growth
10 Years: 8%
5 Years: 10%
3 Years: 25%
TTM: 3%
Compounded Profit Growth
10 Years: 13%
5 Years: 12%
3 Years: 16%
TTM: 4%
Stock Price CAGR
10 Years: 20%
5 Years: 21%
3 Years: 13%
1 Year: 25%
Return on Equity
10 Years: 10%
5 Years: 9%
3 Years: 9%
Last Year: 9%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2,936 2,940 2,943 2,948 2,959 5,922 5,926 6,339 6,445 6,765 6,766 6,766
Reserves 179,119 195,747 215,556 228,608 260,750 287,584 381,186 442,827 693,727 772,720 709,106 786,715
107,219 138,761 168,251 194,714 217,475 239,843 307,714 355,133 278,962 319,158 451,664 346,142
73,083 91,395 117,736 172,727 225,618 277,924 302,804 358,716 340,931 399,979 438,346 616,363
Total Liabilities 362,357 428,843 504,486 598,997 706,802 811,273 997,630 1,163,015 1,320,065 1,498,622 1,605,882 1,755,986
133,487 141,417 156,458 184,910 198,526 403,885 398,374 532,658 541,258 627,798 724,805 966,458
CWIP 49,952 91,494 166,462 228,697 324,837 187,022 179,463 109,106 125,953 172,506 293,752 152,382
Investments 42,848 60,602 76,451 84,015 82,899 82,862 235,635 276,767 364,828 394,264 235,560 225,672
136,070 135,330 105,115 101,375 100,540 137,504 184,158 244,484 288,026 304,054 351,765 411,474
Total Assets 362,357 428,843 504,486 598,997 706,802 811,273 997,630 1,163,015 1,320,065 1,498,622 1,605,882 1,755,986

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
36,918 43,261 34,374 38,134 49,550 71,459 42,346 94,877 26,958 110,654 115,032 158,788
-27,601 -73,070 -64,706 -36,186 -66,201 -68,192 -94,507 -72,497 -142,385 -109,162 -93,001 -114,301
408 13,713 8,444 -3,210 8,617 -2,001 55,906 -2,541 101,904 17,289 10,455 -16,646
Net Cash Flow 9,725 -16,096 -21,888 -1,262 -8,034 1,266 3,745 19,839 -13,523 18,781 32,486 27,841

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 9 8 5 6 10 16 19 12 15 12 12 13
Inventory Days 60 57 66 90 84 83 63 67 102 83 87 95
Days Payable 55 61 74 117 132 146 100 87 136 122 91 111
Cash Conversion Cycle 14 4 -2 -21 -38 -46 -18 -9 -19 -27 7 -3
Working Capital Days -1 -3 -37 -117 -141 -144 -67 -101 12 -13 -9 33
ROCE % 10% 10% 9% 10% 10% 11% 12% 11% 8% 8% 9%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
50.59% 50.61% 50.61% 50.66% 50.62% 50.56% 50.49% 50.41% 50.39% 50.27% 50.30% 50.31%
25.11% 25.41% 24.75% 24.23% 23.90% 23.58% 23.48% 22.49% 22.55% 22.60% 22.13% 22.06%
13.09% 13.20% 13.62% 14.23% 14.67% 14.91% 15.26% 16.06% 16.13% 15.99% 16.59% 16.98%
0.18% 0.18% 0.17% 0.17% 0.17% 0.16% 0.16% 0.16% 0.17% 0.17% 0.18% 0.19%
11.03% 10.60% 10.85% 10.71% 10.64% 10.78% 10.59% 10.89% 10.76% 10.98% 10.80% 10.46%
No. of Shareholders 32,04,33430,43,51133,06,66233,27,84733,06,73234,85,82533,62,91536,39,39635,06,86736,98,64836,13,81434,63,276

* 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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