RELINFRA
Reliance Infrastructure Limited
Integrated power utility and infrastructure project company
Utilities›Power›Power›Integrated Power Utilities
rinfra.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹53.62
Market cap
2,191 Cr
Stock P/E
0.7
P/B
0.12
Dividend yield
1.0%
ROE (FY26)
10.0%
ROCE (FY26)
17.3%
Operating margin (FY26)
-2.3%
Debt / equity (FY26)
0.27
OCF / EBITDA (FY26)
235.3%
OCF / EBITDA (3Y)
148.5%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Reliance Infrastructure is a holding company whose largest business is electricity (power), alongside metro rail, toll roads, engineering and construction, and a newer defence business, mostly run through subsidiaries and project companies.
Company snapshot
5thBy market cap
Ranked among 6 companies in Integrated Power Utilities.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 85.0% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Engineering and Construction Business | 1.1% | 54 Cr | 3 Cr | 3,340 Cr |
| Infrastructure Business | 8.2% | 414 Cr | 50 Cr | 9,736 Cr |
| Power Business | 85.0% | 4,275 Cr | 783 Cr | 32,537 Cr |
What we see
Positives
- ✓Net margin of 23.7% — the business keeps a healthy share of every rupee it earns.
Concerns
- ✗Interest coverage of -0.3x — earnings barely cover interest payments, which is a warning sign.
2 more signals from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 7,137 Cr | 4,657 Cr | 4,686 Cr | 7,193 Cr | 7,258 Cr | 5,033 Cr | 4,108 Cr | 5,908 Cr | 6,235 Cr | 4,297 Cr | 4,001 Cr | 6,344 Cr |
| Operating expenses (approx.) | 6,104 Cr | 4,113 Cr | 4,369 Cr | 5,982 Cr | 5,623 Cr | 4,137 Cr | 4,094 Cr | 5,686 Cr | 4,460 Cr | 3,260 Cr | 4,722 Cr | 6,498 Cr |
| EBITDA | 1,033 Cr | 545 Cr | 317 Cr | 1,211 Cr | 1,636 Cr | 895 Cr | 14 Cr | 222 Cr | 1,775 Cr | 1,036 Cr | -721 Cr | -153 Cr |
| OPM % | 14.5% | 11.7% | 6.8% | 16.8% | 22.5% | 17.8% | 0.3% | 3.8% | 28.5% | 24.1% | -18.0% | -2.4% |
| Other income | 237 Cr | 60 Cr | 97 Cr | 63 Cr | 87 Cr | 97 Cr | 160 Cr | 128 Cr | 75 Cr | 66 Cr | 153 Cr | 64 Cr |
| Interest | 610 Cr | 578 Cr | 552 Cr | 470 Cr | 472 Cr | 468 Cr | 375 Cr | 409 Cr | 444 Cr | 442 Cr | 348 Cr | 413 Cr |
| Depreciation | 387 Cr | 379 Cr | 366 Cr | 348 Cr | 355 Cr | 359 Cr | 360 Cr | 375 Cr | 368 Cr | 373 Cr | 350 Cr | 342 Cr |
| Profit before tax | -177 Cr | -286 Cr | -77 Cr | -102 Cr | 4,195 Cr | -3,182 Cr | 8,259 Cr | 299 Cr | 2,569 Cr | 315 Cr | 1,029 Cr | 765 Cr |
| Tax % | -3.1% | -5.2% | -26.8% | 8.7% | 0.0% | -0.1% | -0.0% | -2.1% | -0.3% | -0.7% | -59.4% | -0.3% |
| Net profit | -182 Cr | -301 Cr | -98 Cr | -93 Cr | 4,195 Cr | -3,186 Cr | 8,262 Cr | 305 Cr | 2,575 Cr | 317 Cr | 1,640 Cr | 768 Cr |
| EPS (₹) | ₹-8.21 | ₹-10.10 | ₹-5.22 | ₹-5.90 | ₹103.06 | ₹-83.26 | ₹110.75 | ₹2.20 | ₹47.37 | ₹0.27 | ₹22.47 | ₹9.10 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | — | — | 19,279 Cr | 18,870 Cr | 16,705 Cr | 18,411 Cr | 20,646 Cr | 22,067 Cr | 23,592 Cr | 20,441 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | — | — | 15,117 Cr | 17,649 Cr | 16,465 Cr | 16,583 Cr | 19,427 Cr | 20,016 Cr | 19,835 Cr | 19,437 Cr | Sign in free for the trailing twelve months |
| EBITDA | — | — | 4,162 Cr | 1,221 Cr | 240 Cr | 1,828 Cr | 1,219 Cr | 2,051 Cr | 3,756 Cr | 1,004 Cr | Sign in free for the trailing twelve months |
| OPM % | — | — | 21.6% | 6.5% | 1.4% | 9.9% | 5.9% | 9.3% | 15.9% | 4.9% | Sign in free for the trailing twelve months |
| Other income | — | — | 2,729 Cr | 2,102 Cr | 960 Cr | 721 Cr | 515 Cr | 452 Cr | 407 Cr | 422 Cr | Sign in free for the trailing twelve months |
| Interest | — | — | 4,571 Cr | 2,396 Cr | 2,727 Cr | 2,060 Cr | 2,393 Cr | 2,310 Cr | 1,784 Cr | 1,660 Cr | Sign in free for the trailing twelve months |
| Depreciation | — | — | 1,318 Cr | 1,387 Cr | 1,352 Cr | 1,283 Cr | 1,449 Cr | 1,503 Cr | 1,421 Cr | 1,466 Cr | Sign in free for the trailing twelve months |
| Profit before tax | — | — | -2,503 Cr | 858 Cr | -302 Cr | -785 Cr | -2,557 Cr | -1,107 Cr | 9,171 Cr | 4,212 Cr | Sign in free for the trailing twelve months |
| Tax % | — | — | 7.2% | -5.9% | 55.4% | -2.9% | -0.3% | -3.7% | -0.1% | -14.9% | Sign in free for the trailing twelve months |
| Net profit | — | — | -2,323 Cr | 908 Cr | -134 Cr | -808 Cr | -2,564 Cr | -1,148 Cr | 9,177 Cr | 4,838 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | — | — | ₹-92.28 | ₹29.32 | ₹-20.24 | ₹-35.68 | ₹-112.98 | ₹-42.66 | ₹124.64 | ₹71.44 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | — | — | 0.1% | 0.5% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 263 Cr | 263 Cr | 263 Cr | 263 Cr | 263 Cr | 263 Cr | 352 Cr | 396 Cr | 396 Cr | 409 Cr |
| Reserves | 23,084 Cr | 23,956 Cr | 13,913 Cr | 9,529 Cr | 10,597 Cr | 12,301 Cr | 8,942 Cr | 8,351 Cr | 14,034 Cr | 17,464 Cr |
| Borrowings | 20,675 Cr | 18,333 Cr | 15,860 Cr | 14,300 Cr | 13,830 Cr | 12,647 Cr | 11,448 Cr | 9,671 Cr | 6,293 Cr | 4,804 Cr |
| Other liabilities | 52,723 Cr | 56,594 Cr | 36,657 Cr | 39,181 Cr | 33,698 Cr | 33,551 Cr | 35,592 Cr | 35,652 Cr | 35,735 Cr | 37,268 Cr |
| Total liabilities | 98,349 Cr | 1,00,722 Cr | 68,383 Cr | 65,103 Cr | 62,163 Cr | 62,689 Cr | 60,993 Cr | 59,181 Cr | 65,841 Cr | 71,160 Cr |
| Fixed assets (net) | 24,039 Cr | 23,904 Cr | 9,366 Cr | 9,453 Cr | 8,766 Cr | 8,792 Cr | 9,048 Cr | 8,922 Cr | 9,485 Cr | 10,177 Cr |
| CWIP | 1,305 Cr | 1,360 Cr | 1,115 Cr | 1,122 Cr | 875 Cr | 860 Cr | 911 Cr | 1,018 Cr | 991 Cr | 842 Cr |
| Investments | 13,143 Cr | 13,615 Cr | 6,742 Cr | 1,394 Cr | 1,769 Cr | 4,856 Cr | 4,338 Cr | 4,029 Cr | 8,671 Cr | 10,319 Cr |
| Loans & advances | — | — | — | — | — | — | 4,511 Cr | 4,502 Cr | 287 Cr | 242 Cr |
| Inventories | 412 Cr | 394 Cr | 62 Cr | 64 Cr | 73 Cr | 66 Cr | 81 Cr | 103 Cr | 179 Cr | 152 Cr |
| Trade receivables | 5,643 Cr | 5,423 Cr | 4,468 Cr | 4,954 Cr | 3,926 Cr | 4,114 Cr | 2,560 Cr | 1,702 Cr | 1,532 Cr | 1,182 Cr |
| Cash & bank | 563 Cr | 512 Cr | 635 Cr | 732 Cr | 632 Cr | 982 Cr | 856 Cr | 1,721 Cr | 2,395 Cr | 1,709 Cr |
| Other assets | 53,246 Cr | 55,514 Cr | 45,995 Cr | 47,383 Cr | 46,123 Cr | 43,019 Cr | 38,689 Cr | 37,183 Cr | 42,303 Cr | 46,538 Cr |
| Total assets | 98,349 Cr | 1,00,722 Cr | 68,383 Cr | 65,103 Cr | 62,163 Cr | 62,689 Cr | 60,993 Cr | 59,181 Cr | 65,841 Cr | 71,160 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | — | 8,159 Cr | 684 Cr | 2,875 Cr | 1,436 Cr | 2,980 Cr | 3,458 Cr | 4,097 Cr | 3,657 Cr | 2,362 Cr |
| Cash from investing | — | -758 Cr | 2,759 Cr | -794 Cr | 18 Cr | -502 Cr | -1,333 Cr | 415 Cr | -1,731 Cr | -1,273 Cr |
| Cash from financing | — | -7,463 Cr | -3,334 Cr | -1,979 Cr | -1,531 Cr | -2,122 Cr | -2,242 Cr | -3,648 Cr | -1,252 Cr | -1,775 Cr |
| Net cash flow | — | -62 Cr | 109 Cr | 101 Cr | -77 Cr | 356 Cr | -117 Cr | 865 Cr | 674 Cr | -686 Cr |
| Free cash flow (OCF − Capex) | — | 6,010 Cr | -765 Cr | 1,552 Cr | 454 Cr | 2,170 Cr | 2,115 Cr | 3,070 Cr | 2,192 Cr | 669 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | — | — | 6.5% | 12.6% | 8.5% | 4.4% | -0.6% | 5.1% | 36.4% | 17.3% |
| ROE % | — | — | -15.3% | 7.8% | -3.6% | -5.7% | -23.1% | -8.3% | 20.7% | 10.0% |
| Debtor days | — | — | 84 | 96 | 86 | 81 | 45 | 28 | 24 | 21 |
| Inventory days | — | — | 2 | 2 | 2 | 2 | 2 | 540 | 316 | 144 |
| Days payable | — | — | 585 | 557 | 509 | 490 | 423 | 94039 | 30118 | 16277 |
| Cash conversion cycle | — | — | -499 | -460 | -422 | -407 | -376 | -93471 | -29779 | -16112 |
| OCF / EBITDA % | — | — | 16.4% | 235.5% | n.m. | 163.0% | 283.6% | 199.8% | 97.3% | 235.3% |
| OCF / EBITDA % (3 years) | — | — | — | — | 88.9% | 221.7% | 239.6% | 206.6% | 159.6% | 148.5% |
| Debt / equity | 0.89 | 0.76 | 1.12 | 1.46 | 1.27 | 1.01 | 1.23 | 1.11 | 0.44 | 0.27 |
| Current ratio | 0.56 | 0.59 | 0.51 | 0.52 | 0.48 | 0.42 | 0.35 | 0.35 | 0.21 | 0.17 |
| Net debt / EBITDA | — | — | — | — | — | — | 8.69 | 3.88 | 1.04 | 3.08 |