Reliance Infrastructure Ltd.

NSE: RELINFRA · Integrated Power Utilities

52W Range₹60 ₹354

Snapshot

Unlock Reliance Infrastructure Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Reliance Infrastructure Limited is an Indian conglomerate operating across power generation, transmission, and distribution, alongside engineering, procurement, and construction (EPC) services. The company also manages diverse infrastructure assets including toll roads, metro rail systems, and airports, while maintaining interests in defense manufacturing and natural resource exploration.

Business Model

The company generates revenue through regulated power utility operations, long-term infrastructure concessions, and project-based EPC contracts. It further diversifies its income streams through defense system manufacturing, real estate development, and the exploration of coal bed methane and oil and gas blocks.

  • Samalkot Power Plant Capacity:220 MW
  • Mormugao Power Plant Capacity:48 MW
  • Kochi Power Plant Capacity:165 MW
  • Wind Farm Capacity:9.39 MW

Growth Outlook

Growth is focused on the execution of smart city projects, urban transport infrastructure, and the expansion of defense manufacturing capabilities. The company continues to leverage its EPC expertise to secure new construction and rehabilitation contracts across India.

Key Risks

  • Regulatory and Policy Risk. Changes in government regulations regarding power tariffs and infrastructure concessions can significantly impact the company's profitability.
  • High Debt Burden. The company's extensive infrastructure portfolio requires significant capital expenditure, leading to high leverage and interest payment obligations.
  • Project Execution Risk. Delays in large-scale infrastructure and construction projects can lead to cost overruns and liquidity constraints.
  • Commodity Price Volatility. Fluctuations in fuel costs and raw material prices for defense and cement manufacturing may adversely affect operating margins.

Price

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Key Metrics

REVENUE

₹20,441 Cr

TTM · consolidated

-13.4%YoY

NET PROFIT

₹4,838 Cr

TTM · consolidated

-47.3%YoY

EPS

₹71.61

TTM · consolidated

-42.6%YoY

RETURN ON EQUITY

31.6%

TTM · consolidated

-58.7 ppYoY

RETURN ON CAPITAL EMPLOYED

6.2%

TTM · consolidated

-7.8 ppYoY

P/E

0.9x

Q4 FY26 · consolidated

0.9 vs -1.6x5Y avg

EV/EBITDA

2.1x

Q4 FY26 · consolidated

2.1 vs 1.2x5Y avg

EBITDA MARGIN

13.4%

TTM · consolidated

-4.2 ppYoY

NET PROFIT MARGIN

41.0%

Q4 FY26 · consolidated

-160.1 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.17xYoY

Peers · Integrated Power Utilities

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Reliance Infrastructure Ltd.RELINFRA
2,9890.932.12-13.4%13.4%31.6%6.2%-83.4%
Adani Power Ltd.ADANIPOWER
2,91,39116.0220.07-3.5%43.2%22.2%18.3%-64.2%
Tata Power Co. Ltd.TATAPOWER
1,23,56332.1812.62-4.7%23.8%13.9%8.4%-9.1%
Torrent Power Ltd.TORNTPOWER
68,68729.6314.42-0.7%20.2%13.7%13.9%+1.9%
CESC Ltd.CESC
19,95611.446.6639.8%24.7%16.6%13.0%-8.4%

As of Q4 FY26

Financials