- ✓In favour?
- ✓Real player?
- ✓Healthy?
- ✓Smart money?
- 5Mgmt view?
- 6Right price?
RELIANCE.NS Reliance Industries Limited
INR·Price 1309.50·Mkt cap 17.72TComputed from the latest reported financials and the current market price.
Is the business healthy?
A mixed picture — real strengths, but soft spots in cash flow, returns or debt.
- ⚠Receivables growing much faster than revenue (channel-stuffing risk)
- Strong cash flow quality
- High FCF conversion
- Low accrual ratio
Are the smart people buying?
No ownership-change data for this stock. Conviction is judged from capex and buyback signals alone.
- Insider net buys
- Stable promoter/insider ownership
- Stable institutional ownership
What is management saying? — balanced tone
Read management in their own words. The summary is opt-in below.
Is the price right?
Intrinsic value 330.57 vs price 1309.50 — screens expensive on a cash-flow DCF (-74.8% to intrinsic). The base DCF growth of 8% seems reasonable, but the reverse-DCF implied growth of 22.47% is extremely high and likely unrealistic.
| Intrinsic / share | 330.57 |
| Price | 1309.50 |
| Upside to intrinsic | -74.8% |
| Reverse-DCF implied g | 22.5% |
Base FCF 379.46B · growth 8.0% · discount 12.0% · terminal 5.0%.
Sensitivity — intrinsic value / share
Each cell is the intrinsic value at that growth (across →) and discount rate (down ↓). Center ★ is the base case. Cells green = above price (cheap), red = below (expensive).
| Growth rate → | |||||
|---|---|---|---|---|---|
| Disc ↓ ╲ g | 4% | 6% | 8% | 10% | 12% |
| 10% | 352.09 | 443.97 | 551.35 | 676.63 | 822.52 |
| 11% | 262.61 | 336.4 | 422.41 | 522.51 | 638.81 |
| 12% | 198.63 | 259.64 | ★ 330.57 | 412.92 | 508.39 |
| 13% | 150.59 | 202.14 | 261.91 | 331.14 | 411.22 |
| 14% | 113.18 | 157.46 | 208.68 | 267.86 | 336.17 |
Through the masters' eyes
Each investor's numeric rules, checked against this stock's metrics: exact math, no guesswork. Tap one to see which rules pass, fail, and what to judge yourself.
▶
Passes 3 of 4 of Radhakishan Damani's numeric checks. Still judge the non-numeric criteria below for yourself.
- Very low debt (D/E ≤ 0.5) — now 0.44
- Consistent revenue (consistency ≥ 80%) — now 97.1%
- Positive net margin — now 7.6%
- High returns on capital (ROCE ≥ 18%) — now 7.4%
- A durable consumer franchise
- Pricing power
- A long runway, bought patiently
▶
Passes 1 of 2 of Peter Lynch's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.44
- Solid liquidity (current ratio ≥ 1.5) — now 1.1
- A simple business you understand
- Which 'type' it is (fast grower, stalwart, cyclical…)
- A believable growth story
Couldn't check from available data: PEG ≤ 1 (growth cheap vs price) — not available; Earnings growth ≥ 15% — not available
▶
Passes 1 of 2 of Raamdeo Agrawal's numeric checks. Still judge the non-numeric criteria below for yourself.
- Longevity: revenue consistency ≥ 70% — now 97.1%
- Quality: ROCE ≥ 18% — now 7.4%
- Durability of the growth (longevity)
- Quality and honesty of management
Couldn't check from available data: Growth: earnings CAGR ≥ 15% — not available; Price: PEG ≤ 2 — not available
▶
Passes 1 of 2 of Vijay Kedia's numeric checks. Still judge the non-numeric criteria below for yourself.
- Manageable debt (D/E ≤ 1.0) — now 0.44
- ROE ≥ 15% — now 8.9%
- Ambitious, capable management
- A small company with a large opportunity
- Patience to hold for years
Couldn't check from available data: Strong earnings growth ≥ 20% — not available
▶
Passes 2 of 5 of Warren Buffett's numeric checks. Still judge the non-numeric criteria below for yourself.
- Positive free cash flow — now 6.5%
- Conservative leverage (D/E ≤ 1.0) — now 0.44
- ROE ≥ 15% — now 8.9%
- Net margin ≥ 10% — now 7.6%
- Trades below intrinsic value (margin of safety ≥ 0) — now -296.1%
- A business you can understand
- A durable competitive moat
- Honest, capable management
▶
Passes 1 of 3 of Rakesh Jhunjhunwala's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.44
- ROE ≥ 18% — now 8.9%
- Net margin ≥ 10% — now 7.6%
- A large, scalable opportunity
- Trustworthy, ambitious management
- Conviction to hold through volatility
Couldn't check from available data: Earnings growth ≥ 15% — not available
▶
Passes 1 of 4 of Charlie Munger's numeric checks. Still judge the non-numeric criteria below for yourself.
- Conservative leverage (D/E ≤ 1.0) — now 0.44
- High returns on capital (ROCE ≥ 15%) — now 7.4%
- ROE ≥ 15% — now 8.9%
- Trades below intrinsic value (margin of safety ≥ 0) — now -296.1%
- A high-quality, understandable business
- A durable moat
- Management of integrity
▶
Passes 1 of 6 of Benjamin Graham's numeric checks. Still judge the non-numeric criteria below for yourself.
- Debt below equity (D/E ≤ 1.0) — now 0.44
- P/E ≤ 15 — now 21.94
- P/B ≤ 1.5 — now 1.96
- Graham number: P/E × P/B ≤ 22.5 — now 43
- Strong liquidity (current ratio ≥ 1.5) — now 1.1
- Financially safe (Altman Z ≥ 3) — now 2.41
- A long record of stable earnings
- An uninterrupted dividend history
Financial statements (INR)
↗ sourceCash-flow lines highlighted — we trust cash over reported profit.
| Line | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | 10.57T | 9.65T | 9.01T | 8.78T | — |
| Operating income | 1.21T | 1.12T | 1.12T | 1.02T | — |
| EBITDA | 2.05T | 1.81T | 1.77T | 1.53T | — |
| Net income | 807.75B | 696.48B | 696.21B | 667.02B | — |
| Operating cash flow | 1.92T | 1.79T | 1.59T | 1.15T | — |
| Capex | -1.23T | -1.40T | -1.53T | -1.41T | — |
| Free cash flow | 691.97B | 387.36B | 59.05B | -259.56B | — |
| Total assets | 21.78T | 19.50T | 17.56T | 16.07T | — |
| Total equity | 9.04T | 8.43T | 7.93T | 7.16T | — |
| Total debt | 3.98T | 3.70T | 3.46T | 3.34T | — |
| Cash & equivalents | 1.37T | 1.01T | 935.40B | 341.56B | — |
Technical entry — In the buy zone
The stock is in a downtrend with RSI at 48.7, indicating oversold conditions. The entry zone is between 1246.21 and 1283.98, with a stop below 1195.86. A close above the upper bound of the entry zone would confirm a potential reversal.