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Ola Electric, Reliance New Energy, Rajesh Exports рдпрд╛рдВрдирд╛ ACC-PLI рдпреЛрдЬрдиреЗрддреАрд▓ рд╡рд┐рд▓рдВрдмрд╛рдмрджреНрджрд▓ рджрдВрдб

Industrial Goods/Services

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Published on 19th November 2025, 4:09 PM

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Author

Satyam Jha | Whalesbook News Team

Overview

рднрд╛рд░рдд рд╕рд░рдХрд╛рд░рдЪреНрдпрд╛ рдЬрдб рдЙрджреНрдпреЛрдЧ рдордВрддреНрд░рд╛рд▓рдпрд╛рдиреЗ (Ministry of Heavy Industries) Ola Electric, Reliance New Energy, рдЖрдгрд┐ Rajesh Exports рдпрд╛ рдХрдВрдкрдиреНрдпрд╛рдВрдирд╛ рдЕреЕрдбрд╡реНрд╣рд╛рдиреНрд╕реНрдб рдХреЗрдорд┐рд╕реНрдЯреНрд░реА рд╕реЗрд▓ (ACC) рдкреНрд░реЛрдбрдХреНрд╢рди-рд▓рд┐рдВрдХреНрдб рдЗрдиреНрд╕реЗрдВрдЯрд┐рд╡реНрд╣ (PLI) рдпреЛрдЬрдиреЗрдЕрдВрддрд░реНрдЧрдд рдирд┐рд░реНрдзрд╛рд░рд┐рдд рдХрд╛рд▓рдорд░реНрдпрд╛рджрд╛ рдкреВрд░реНрдг рди рдХреЗрд▓реНрдпрд╛рдмрджреНрджрд▓ рджрдВрдбрд╛рдЪреНрдпрд╛ рдиреЛрдЯреАрд╕ рдмрдЬрд╛рд╡рд▓реНрдпрд╛ рдЖрд╣реЗрдд. рд╕рд░рдХрд╛рд░рдиреЗ рдореБрджрддрд╡рд╛рдв рдЖрдгрд┐ рджрдВрдбрдорд╛рдлреАрдЪреЗ рдЕрд░реНрдЬ рдлреЗрдЯрд╛рд│рд▓реЗ рдЕрд╕реВрди, рдЙрддреНрдкрд╛рджрди рдкреНрд░рдХрд▓реНрдк рдЙрднрд╛рд░рдгреАрддреАрд▓ рд╡рд┐рд▓рдВрдмрд╛рдмрджреНрджрд▓ рдЬрдорд╛ рдЭрд╛рд▓реЗрд▓рд╛ рджрдВрдб рднрд░рдгреНрдпрд╛рд╕ рд╕рд╛рдВрдЧрд┐рддрд▓реЗ рдЖрд╣реЗ. рджрд░рд░реЛрдЬ 5 рд▓рд╛рдЦ рддреЗ 12.5 рд▓рд╛рдЦ рд░реБрдкрдпрд╛рдВрдкрд░реНрдпрдВрдд рджрдВрдб рдЖрдХрд╛рд░рд▓рд╛ рдЬрд╛рдд рдЖрд╣реЗ, рдЬреНрдпрд╛рдореБрд│реЗ рдХрдВрдкрдиреНрдпрд╛рдВрд╡рд░ рдореЛрдареА рдердХрдмрд╛рдХреА рдЬрдорд╛ рдЭрд╛рд▓реА рдЖрд╣реЗ.

Reliance Industries Ltd

тВ╣ 1,547-0.16%
21 Nov тАУ close price
ЁЯФЧril.comтАвBSE: 500325тАвNSE: RELIANCE
Market CapтВ╣ 20,92,932 Cr.
Current PriceтВ╣ 1,547
High / LowтВ╣ 1,558
Stock P/E53.5
Book ValueтВ╣ 413
Dividend Yield0.36 %
ROCE7.57 %
ROE6.61 %
Face ValueтВ╣ 10.0
SalesтВ╣ 5,00,019 Cr.
OPM11.6 %
Mar CapтВ╣ 20,92,932 Cr.

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]

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket 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 valueReturn on assets (%)Debt to equity
1.Reliance Industr1546.6053.522092931.640.369129.0018.36126335.00-2.907.57500019.0011.5839102.629129.003.753.530.37
2.I O C L167.359.69236388.981.798190.861388.14178628.152.097.36760253.586.8524391.087817.551.202.470.74
3.B P C L364.557.35158181.882.746191.49168.30104946.272.1016.22441893.807.8421520.076313.561.686.460.56
4.H P C L471.907.20100359.452.233859.302605.05100855.600.9010.52431921.705.9313929.323859.301.773.571.11
5.M R P L170.2828.7929848.390.00627.36190.0222648.57-9.294.3886471.534.431036.63627.362.240.170.81
6.C P C L1025.2013.0515261.440.49719.19213.4916327.3435.094.3061314.053.701169.80719.191.731.210.22
7.Rajasthan Gases43.206.52332.100.0034.24тАУ0.00тАУ-0.498.2294.7750.9234.244.27-0.480.26
тАУMedian: 9 Co.170.2813.0529848.390.36719.19179.1622648.571.497.5686471.536.851169.8719.192.242.770.47

Quarterly Results

Standalone figures in тВ╣ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
137,346125,849129,674122,627137,380127,695146,832129,898130,108124,381132,962116,341126,335
Expenses
125,561110,950110,542105,134118,189110,137126,809115,583116,683109,168117,846103,171111,946
Operating Profit
11,78514,89919,13217,49319,19117,55820,02314,31513,42515,21315,11613,17014,389
Other Income
3,4992,6892,7502,7282,9342,9693,4973,5023,8013,2145,57713,4603,445
Profit before tax
9,75711,71014,35112,74214,50212,97815,05110,14610,21411,59714,17120,30611,592
Tax %
29%28%4%24%23%24%25%25%24%25%21%12%21%
Net Profit
6,9158,37313,8069,62711,2089,92411,2837,6117,7138,72111,21717,9049,129
EPS in Rs
5.116.1910.207.118.287.338.345.625.706.448.2913.236.75

Profit & Loss

Standalone Figures in тВ╣ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
389,178328,013231,743240,597289,188370,744336,097245,050422,413537,909531,908515,425500,019
Expenses
358,244296,377192,359197,272237,430311,853283,073211,542370,007471,050457,488457,292442,131
Operating Profit
30,93431,63639,38443,32551,75858,89153,02433,50852,40666,85974,42058,13357,888
Other Income
8,8798,6877,7848,6408,2038,7859,12519,11413,77912,24711,97316,03025,696
Interest
3,2062,3672,5622,7234,6569,75112,10516,2119,12312,63313,43010,0548,393
Depreciation
8,7898,4888,5908,4659,58010,5589,7289,19910,27611,16717,69017,98117,525
Profit before tax
27,81829,46836,01640,77745,72547,36740,31627,21246,78655,30655,27346,12857,666
Net Profit
21,98422,71927,38431,42533,61235,16330,90331,94439,08444,19042,04235,26246,971
EPS in Rs
15.9416.4619.8122.6524.8726.0022.8525.1928.8932.6631.0726.0634.71
Dividend Payout %
14%14%12%11%11%12%13%14%14%14%16%21%тАУ

Compounded Sales Growth

10 Years:5%
5 Years:9%
3 Years:7%
TTM:-6%

Compounded Profit Growth

10 Years:5%
5 Years:0%
3 Years:-4%
TTM:7%

Stock Price CAGR

10 Years:22%
5 Years:12%
3 Years:10%
1 Year:26%

Return on Equity

10 Years:9%
5 Years:8%
3 Years:8%
Last Year:7%

Balance Sheet

Standalone figures in тВ╣ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
3,2323,2363,2403,2516,3356,3396,3396,4456,7656,7666,76613,53213,532
Reserves
193,859212,940250,758285,062308,312398,983384,876468,038464,762472,312508,330529,555544,964
Borrowings
89,96897,620107,104107,446116,881161,720298,599224,683197,439218,706214,575201,505207,388
Other Liabilities
80,52483,989120,572150,987185,997208,703281,885174,507209,708224,876229,972277,809302,764
Total Liabilities
367,583397,785481,674546,746617,525775,745971,699873,673878,674922,660959,6431,022,4011,068,648
Fixed Assets
109,406114,563147,543154,578200,964203,188306,478306,833239,626282,301299,630311,047314,432
Gross Block
222,565236,062282,212297,352353,009365,034468,723474,714413,723466,561500,597524,810тАУ
Accumulated Depreciation
113,159121,499134,669142,774152,045161,846162,245167,881174,107184,260200,967213,763тАУ
CWIP
41,71675,753110,905132,74199,483111,55727,96532,83534,66254,35761,63282,41798,517
Investments
86,062112,573157,250192,450225,222331,683491,823347,285408,797351,141370,063390,360412,681
Other Assets
130,39994,89665,97666,97791,856129,317145,433186,720195,589234,861228,318238,577243,018
Total Assets
367,583397,785481,674546,746617,525775,745971,699873,673878,674922,660959,6431,022,4011,068,648

Cash Flows

Standalone Figures in тВ╣ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
42,16035,28543,44751,45062,00029,19177,533-51267,49155,34073,99879,392
Cash from Investing Activity
-64,013-55,998-41,223-54,949-59,109-53,949-143,58374,257-45,315-8,678-38,292-28,106
Cash from Financing Activity
5,530-940-6,903-1,639-1,91425,79570,767-76,657-6,035-7,369-27,465-38,063
Net Cash Flow
-16,323-21,653-4,679-5,1389771,0374,717-2,91216,14139,2938,24113,223

Ratios

Standalone Figures in тВ╣ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
1056813128612161011
Inventory Days
475063757160587852777984
Days Payable
6475123151160119106180151108121115
Cash Conversion Cycle
-6-19-54-67-76-48-40-96-87-15-32-20
Working Capital Days
-28-41-128-152-155-111-263-136-68-77-79-91
ROCE %
11%10%11%10%12%11%9%6%8%10%10%8%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
50.49%50.41%50.39%50.27%50.30%50.31%50.33%50.24%50.13%50.10%50.07%50.01%
FIIs
23.48%22.49%22.55%22.60%22.13%22.06%21.75%21.30%19.16%19.07%19.21%18.65%
DIIs
15.26%16.06%16.13%15.99%16.59%16.98%17.30%17.61%19.02%19.36%19.72%20.25%
Public
10.59%10.89%10.76%10.98%10.80%10.46%10.43%10.67%11.52%11.29%10.84%10.92%

* The classifications might have changed from Sep'2022 onwards.тД╣я╕П

Documents

Announcements

Update On Institutional Investors' Meeting

3m - The Company executives participated in the Institution Investors'' Meeting - JM Financial India Conference and no unpublished price sensitive information was shared/discussed in the said тАж

Update On Institutional Investors'' Meeting

1d - Executives attended Morgan Stanley Asia-Pacific Summit in Singapore on Nov 19тАУ20, 2025; no UPSI shared.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

18 Nov - The Company executives will be participating in the Institutional Investors'' Meeting - JM Financial India Conference, scheduled to be held on November 21, 2025 at тАж

Update On Institutional Investors' Meeting

17 Nov - Reliance attended CLSA India Forum one-on-one meetings on Nov 17, 2025; no unpublished price-sensitive information disclosed.

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

14 Nov - The Company executives will be participating in the Institutional Investors'' Meeting - Morgan Stanley 24th Annual Asia-Pacific Summit, scheduled to be held on November 19, тАж

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from nse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

30 Oct from crisil

Rating update

30 Jul from crisil

Rating update

4 Jul from care

Rating update

30 Jun from crisil

Rating update

30 Jan from icra

Rating update

23 Jan from crisil

Concalls

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