રિલાયન્સ ઇન્ફ્રાસ્ટ્રક્ચર દ્વારા મેનેજમેન્ટ બોર્ડ (Board of Management)ની રચના; ગવર્નન્સ (Governance) અને સંરક્ષણ, નવીનીકરણીય ઉર્જા (Renewables) પર ધ્યાન કેન્દ્રિત કરશે

Industrial Goods/Services

Published on 20th November 2025, 10:43 AM

Author

Akshat Lakshkar | Whalesbook News Team

Overview

રિલાયન્સ ઇન્ફ્રાસ્ટ્રક્ચરે ગવર્નન્સ (governance) અને વ્યૂહાત્મક દેખરેખ (strategic oversight) વધારવા માટે નવા મેનેજમેન્ટ બોર્ડ (BOM)ને મંજૂરી આપી છે. કંપની સંરક્ષણ ક્ષેત્ર, નવીનીકરણીય ઉર્જા (સોલાર, બેટરી ઉત્પાદન) અને તેના BSES વીજ વિતરણ વ્યવસાયમાં રોકાણ કરવાની યોજના ધરાવે છે. Q2FY26 માં, રિલાયન્સ ઇન્ફ્રાસ્ટ્રક્ચરે 1,911.19 કરોડ રૂપિયાનો એકીકૃત ચોખ્ખો નફો (consolidated net profit) નોંધાવ્યો છે.

Reliance Infrastructure Ltd

₹ 165-3.07%

21 Nov – close price

🔗rinfra.com•BSE: 500390•NSE: RELINFRA

Market Cap₹ 6,819 Cr.

Current Price₹ 165

High / Low₹ 425

Stock P/Enull

Book Value₹ 595

Dividend Yield0.00 %

ROCE-1.41 %

ROE-8.12 %

Face Value₹ 10.0

Sales₹ 234 Cr.

OPM-128 %

Mar Cap₹ 6,819 Cr.

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 FY24Power (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.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Adani Power	149.12	23.90	287592.36	0.00	2906.46	-11.38	13456.84	0.88	22.54	55474.57	37.26	12031.82	2952.78	4.92	12.46	0.83
2.	Tata Power Co.	387.00	30.61	123691.51	0.58	1245.39	-8.03	15544.91	-0.97	10.81	66066.92	19.70	4041.12	919.44	3.28	3.05	1.86
3.	Torrent Power	1291.40	21.77	65101.36	1.47	741.55	50.45	7876.00	9.76	15.95	28738.09	18.20	2990.38	723.71	3.46	8.28	0.55
4.	CESC	172.01	15.70	22764.94	3.49	445.00	20.40	5267.00	12.06	11.23	17907.00	18.69	1450.00	425.00	1.79	3.55	1.48
5.	Reliance Infra.	165.29	–	6819.45	0.00	-601.45	7.47	61.25	-0.58	-1.41	233.88	-127.89	-351.52	-151.76	0.28	-3.67	0.03
6.	India Power Corp	10.87	139.10	1058.51	0.46	3.78	20.00	197.94	29.44	3.17	657.39	-10.74	7.61	3.78	1.20	0.36	0.11
–	Median: 6 Co.	168.65	23.9	43933.15	0.52	593.27	13.73	6571.5	5.32	11.02	23322.54	18.45	2220.19	574.36	2.54	3.3	0.69

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	271	100	243	64	190	63	108	31	62	54	65	54	61
Expenses	262	102	466	114	322	109	274	86	124	105	141	101	186
Operating Profit	9	-2	-223	-50	-132	-46	-166	-55	-63	-52	-75	-47	-125
Other Income	104	65	-2,376	-322	189	50	-709	25	2,275	-3,096	332	227	-413
Profit before tax	-91	-207	-2,791	-551	-150	-166	-1,071	-206	2,081	-3,202	216	109	-601
Tax %	0%	-1%	-0%	-0%	0%	-5%	0%	-0%	-0%	0%	0%	-0%	-0%
Net Profit	-91	-206	-2,784	-551	-150	-158	-1,071	-206	2,084	-3,203	216	109	-601
EPS in Rs	-3.46	-7.17	-79.15	-15.65	-3.79	-4.00	-27.03	-5.21	52.61	-80.85	5.45	2.67	-14.72

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	11,474	10,595	9,932	8,916	1,076	986	1,319	1,689	1,467	810	425	212	234
Expenses	9,559	8,690	8,030	6,871	1,063	7,965	1,348	1,735	1,612	990	729	452	533
Operating Profit	1,915	1,905	1,902	2,044	13	-6,979	-28	-46	-145	-180	-304	-240	-299
Other Income	1,220	1,618	2,460	2,732	3,247	7,211	2,009	1,187	478	-2,195	-880	-467	-2,950
Interest	996	1,518	2,263	2,641	1,579	1,254	920	1,193	655	802	738	390	215
Depreciation	342	487	903	930	99	82	65	59	42	27	16	14	15
Profit before tax	1,797	1,518	1,197	1,205	1,581	-1,104	996	-112	-364	-3,204	-1,938	-1,111	-3,479
Net Profit	1,588	1,533	994	1,288	1,664	-913	1,031	-19	-368	-3,198	-1,930	-1,108	-3,479
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	-27.97	-87.45
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:-11%

Compounded Profit Growth

10 Years:%

5 Years:%

3 Years:-18%

TTM:58%

Stock Price CAGR

10 Years:-9%

5 Years:52%

3 Years:4%

1 Year:-36%

Return on Equity

10 Years:5%

5 Years:-6%

3 Years:-9%

Last Year:-8%

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	263	263	263	263	263	263	263	263	263	352	396	396	409
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	23,920
Borrowings	14,842	16,814	20,343	15,637	12,229	6,079	5,701	3,808	3,843	3,372	3,060	478	706
Other Liabilities	12,992	11,569	19,123	20,803	24,573	7,883	7,068	6,560	6,056	6,751	5,702	5,612	5,461
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	30,495
Fixed Assets	5,981	6,718	16,313	16,418	15,934	1,132	1,066	380	325	302	208	210	206
Gross Block	11,074.68	12,339.12	17,240.94	18,280.49	18,616.08	1,516.67	1,513.04	782.77	741.83	746.09	375.40	390.42	–
Accumulated Depreciation	5,093.39	5,621.28	928.31	1,862.92	2,681.61	384.40	446.99	403.16	416.89	443.74	167.46	180.59	–
CWIP	528	984	169	184	217	26	29	17	11	11	2	-0	-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	28,054
Other Assets	25,065	23,762	26,089	23,958	24,414	13,489	14,112	12,693	11,268	8,967	7,760	2,337	2,236
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	30,495

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	2,334	2,333	5,420	4,735	4,225	-2,626	230	445	-164	532	238	-188
Cash from Investing Activity	-3,771	-1,503	-6,032	906	2,093	2,533	874	1,051	228	-3	552	-519
Cash from Financing Activity	1,524	-922	682	-5,665	-6,385	78	-1,102	-1,513	-50	-280	-958	665
Net Cash Flow	87	-92	69	-24	-68	-15	2	-16	15	249	-168	-42

Ratios

Standalone Figures in ₹ Crores / Yearly

	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	–	–	–	–	–	–	–	–	–	–	–	–
Days Payable	–	–	–	–	–	–	–	–	–	–	–	–
Cash Conversion Cycle	150	179	183	207	1,629	1,418	1,136	615	725	608	343	656
Working Capital Days	37	97	-59	-0	-391	1,697	1,541	1,530	620	74	-288	-4,672
ROCE %	7%	7%	8%	8%	8%	22%	11%	4%	2%	1%	0%	-1%

Shareholding Pattern
Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	4.56%	18.67%	18.65%	16.56%	16.50%	16.50%	16.50%	16.50%	16.50%	16.50%	19.05%	19.05%
FIIs	11.94%	12.30%	12.92%	12.14%	12.69%	11.77%	12.37%	8.38%	9.00%	11.35%	10.26%	7.07%
DIIs	3.84%	3.13%	3.06%	2.85%	2.64%	2.16%	2.26%	1.40%	1.34%	1.36%	1.38%	1.27%
Public	79.49%	65.74%	65.22%	68.33%	68.03%	69.42%	68.75%	73.59%	73.01%	70.66%	69.18%	72.47%