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Last Updated: February 25, 2025, 4:28 am
Author: Getaka|Social: XLinkedIn

Reliance Capital Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹29.53Undervalued by 138.15%vs CMP ₹12.40

P/E (0.6) × ROE (15.0%) × BV (₹416.00) × DY (2.00%)

Defaults: ROE=15%

₹238.46Undervalued by 1,823.06%vs CMP ₹12.40
MoS: +94.8% (Strong)Confidence: 58/100 (Moderate)Models: All 5: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹97.6133%Under (+687.2%)
Graham NumberEarnings₹447.3425%Under (+3507.6%)
DCFCash Flow₹106.8720%Under (+761.9%)
Earnings YieldEarnings₹213.8013%Under (+1624.2%)
Revenue MultipleRevenue₹481.8310%Under (+3785.7%)
Consensus (5 models)₹238.46100%Undervalued
Key Drivers: EPS CAGR 230.5% lifts DCF — verify sustainability. | Wide model spread (₹98–₹482) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 230.5% · Defaults: ROE=15%

*Investments are subject to market risks

Investment Snapshot

54
Reliance Capital Ltd scores 54/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health39/100 · Weak
ROCE 8.2% AverageROE 0.0% WeakD/E -11.73 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 0.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (-31% → -3%) Improving
Quarterly Momentum70/100 · Strong
Revenue (4Q): +17% YoY GrowingOPM: 6.0% (up 10.0% YoY) Margin expansion
Industry Rank50/100 · Moderate
P/E 0.6 vs industry 98.5 Cheaper than peersROCE 8.2% vs industry 21.7% Below peers3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: February 25, 2025, 4:28 am

Market Cap 312 Cr.
Current Price 12.4
Intrinsic Value₹97.60
High / Low /
Stock P/E0.58
Book Value 416
Dividend Yield0.00 %
ROCE8.16 %
ROE%
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Reliance Capital Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Reliance Capital Ltd 312 Cr. 12.4 /0.58 4160.00 %8.16 %% 10.0
Naperol Investments Ltd 314 Cr. 546 1,212/49033.8 2,0551.65 %1.06 %0.95 % 10.0
Corporate Merchant Bankers Ltd 278 Cr. 43.9 414/39.765.9 1.090.00 %5.88 %51.2 % 10.0
Ascom Leasing & Investments Ltd 265 Cr. 227 243/76.651.2 44.80.00 %14.4 %10.8 % 10.0
Times Guaranty Ltd 260 Cr. 286 317/110110 53.10.00 %6.05 %5.04 % 10.0
Industry Average6,725.79 Cr1,029.6498.514,364.490.43%21.71%14.20%7.23

All Competitor Stocks of Reliance Capital Ltd

Quarterly Result

MetricSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Sales 5,9934,0764,7633,5965,7965,2184,4275,9576,3936,0985,8006,5177,343
Expenses 6,4115,2308,6743,7665,7125,1675,9145,5356,6445,8795,7566,1676,923
Operating Profit -418-1,154-3,911-1708451-1,487423-25121845350419
OPM % -7%-28%-82%-5%1%1%-34%7%-4%4%1%5%6%
Other Income 8711313251994730201091417
Interest 6775632782711568-182291313
Depreciation 28283030312827262729323030
Profit before tax -1,115-1,738-4,106-45829027-1,513444-256187112321393
Tax % 4%1%1%7%26%41%-1%2%-7%57%-48%15%21%
Net Profit -1,156-1,759-4,132-49121516-1,499434-23981166272309
EPS in Rs -47.07-70.16-165.03-18.277.38-0.03-59.4615.60-10.401.562.448.369.02

Last Updated: February 28, 2025, 6:18 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 22, 2025, 3:20 pm

MetricMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales 7,4487,4678,9009,94117,50718,72520,45318,32719,25119,27219,03724,24725,758
Expenses 4,2834,1284,9825,36812,90118,85117,34620,36425,55024,87820,52223,76424,726
Operating Profit 3,1653,3393,9184,5734,606-1263,107-2,037-6,299-5,607-1,4864841,032
OPM % 42%45%44%46%26%-1%15%-11%-33%-29%-8%2%4%
Other Income 697774571331582254,9315830281206160
Interest 2,3482,5082,6482,8283,0844,1124,5413,9942,7682,2183348858
Depreciation 5661687011694123123105112116114121
Profit before tax 8308471,2761,7321,539-4,174-1,332-1,223-9,114-7,908-1,6544871,013
Tax % 15%19%18%22%19%9%9%-2%2%2%6%9%
Net Profit 8748441,1311,2651,248-4,556-1,454-1,199-9,287-8,055-1,759442827
EPS in Rs 33.0630.4239.6343.5942.99-183.38-59.87-42.54-372.10-321.15-70.389.2021.38
Dividend Payout % 45%36%23%23%24%-6%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-3.43%34.00%11.85%-1.34%-465.06%68.09%17.54%-674.56%13.27%78.16%125.13%
Change in YoY Net Profit Growth (%)0.00%37.44%-22.16%-13.19%-463.72%533.15%-50.55%-692.10%687.83%64.90%46.97%

Reliance Capital Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:3%
3 Years:8%
TTM:17%
Compounded Profit Growth
10 Years:-11%
5 Years:17%
3 Years:27%
TTM:139%
Stock Price CAGR
10 Years:-27%
5 Years:6%
3 Years:-10%
1 Year:%
Return on Equity
10 Years:%
5 Years:%
3 Years:%
Last Year:%

Last Updated: September 5, 2025, 11:25 am

Balance Sheet

Last Updated: December 14, 2024, 3:07 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital 246244253253253253253253253253253253253
Reserves 11,72512,14713,07113,89015,081760-1,202-2,547-11,791-20,073-12,319-11,381-10,757
Borrowings 22,51025,57726,13928,03539,26146,35746,16026,90926,88726,83917,65017,60017,601
Other Liabilities 6,1077,5607,97724,93428,00635,80938,76240,16249,52856,67168,02268,51475,255
Total Liabilities 40,58845,52847,44067,11282,60183,17983,97364,77764,87663,68973,60774,98782,352
Fixed Assets 4344825305,5125,7455,7265,6995,5465,5775,5825,2635,3145,319
CWIP 51233341819201516245
Investments 15,08716,15715,88125,27934,65233,30032,67234,59439,75544,01448,52456,68860,644
Other Assets 25,06228,88831,02736,31842,20144,11945,58424,61819,52414,07819,80312,96116,384
Total Assets 40,58845,52847,44067,11282,60183,17983,97364,77764,87663,68973,60774,98782,352

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity + 2911,471-1,002-225-3,623-6,123-8,35215,8864,0574,0205,2495,817
Cash from Investing Activity + 582-2132,1442,992-6,059-5805,1273,156-3,948-3,350-4,899-5,678
Cash from Financing Activity + -419-276-2,011-1,24610,5357,419-377-19,251-23-48-844-46
Net Cash Flow 454982-8691,521853716-3,602-20987622-49393
Free Cash Flow 4241,315-1,056-366-4,064-6,504-8,40815,9063,9203,9095,1565,656
CFO/OP 12%51%-20%2%-72%4,693%-267%-780%-64%-72%-358%1,223%

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-19.00-22.00-23.00-24.00-35.00-172.00-43.00-28.00-32.00-31.00-18.00467.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days 414614271917142229354820
Inventory Days
Days Payable
Cash Conversion Cycle 414614271917142229354820
Working Capital Days -254-469-215-331-227-607-596-636-722-862-1,078-845
ROCE %10%9%10%11%9%-0%7%8%-31%-48%-19%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
Promoters 1.51%1.51%0.89%0.89%0.89%0.89%0.89%0.89%0.89%0.89%0.89%0.89%
FIIs 0.85%0.72%0.72%0.40%0.14%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DIIs 3.08%3.07%3.07%3.07%3.07%3.05%3.05%2.99%2.99%2.99%2.99%2.99%
Government 0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%
Public 93.91%94.04%94.67%94.98%95.25%95.41%95.41%95.47%95.47%95.47%95.48%95.47%
Others 0.64%0.64%0.64%0.64%0.64%0.63%0.63%0.63%0.63%0.63%0.63%0.63%
No. of Shareholders 7,89,8067,91,5767,88,4777,87,1147,83,4427,73,2767,65,7207,57,3707,48,9987,48,6827,48,3667,48,150

Shareholding Pattern Chart

No. of Shareholders

Reliance Capital Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 17.59-70.07-320.80-369.82-47.79
Diluted EPS (Rs.) 17.59-70.07-320.80-369.82-47.79
Cash EPS (Rs.) 21.58-65.12-300.69-332.73-42.73
Book Value[Excl.RevalReserv]/Share (Rs.) -439.40-443.41-751.23-426.92-66.13
Book Value[Incl.RevalReserv]/Share (Rs.) -439.40-443.41-751.23-426.92-66.13
Revenue From Operations / Share (Rs.) 957.49751.73761.01760.87724.23
PBDIT / Share (Rs.) 24.90-49.15-208.41-217.55-80.51
PBIT / Share (Rs.) 20.39-53.72-212.85-221.70-85.38
PBT / Share (Rs.) 18.85-65.55-299.32-330.04-48.54
Net Profit / Share (Rs.) 17.06-69.70-305.12-336.88-47.59
NP After MI And SOA / Share (Rs.) 9.18-70.23-320.47-371.70-42.49
PBDIT Margin (%) 2.60-6.53-27.38-28.59-11.11
PBIT Margin (%) 2.12-7.14-27.96-29.13-11.78
PBT Margin (%) 1.96-8.71-39.33-43.37-6.70
Net Profit Margin (%) 1.78-9.27-40.09-44.27-6.57
NP After MI And SOA Margin (%) 0.95-9.34-42.11-48.85-5.86
Return on Networth / Equity (%) -2.090.000.000.000.00
Return on Capital Employeed (%) -7.05-2.20-347.85-58.51-11.75
Return On Assets (%) 0.31-2.68-12.74-14.49-1.65
Long Term Debt / Equity (X) 0.00-1.36-0.92-1.59-7.95
Total Debt / Equity (X) -1.58-1.46-1.35-2.33-11.73
Asset Turnover Ratio (%) 0.340.290.000.010.02
Current Ratio (X) 0.8312.810.921.061.25
Quick Ratio (X) 0.8312.810.921.061.25
Interest Coverage Ratio (X) 16.26-4.16-2.41-2.01-0.51
Interest Coverage Ratio (Post Tax) (X) 12.14-4.89-2.53-2.11-0.53
Enterprise Value (Cr.) 0.0017888.3626486.2426866.2326705.60
EV / Net Operating Revenue (X) 0.000.931.371.401.46
EV / EBITDA (X) 0.00-14.37-5.02-4.88-13.11
MarketCap / Net Operating Revenue (X) 0.000.010.020.010.01
Price / BV (X) 0.00-0.01-0.02-0.02-0.04
Price / Net Operating Revenue (X) 0.000.010.020.010.01
EarningsYield 0.00-8.76-19.25-34.54-9.46

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fundamental Analysis of Reliance Capital Ltd

Reliance Capital Ltd. is a Public Limited Listed company incorporated on 05/03/1986 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L65910MH1986PLC165645 and registration number is 165645. Currently company belongs to the Industry of Finance & Investments. Company’s Total Operating Revenue is Rs. 15.87 Cr. and Equity Capital is Rs. 253.24 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsKamala Mills Compound, Mumbai Maharashtra 400013rcl.investor@relianceada.com
http://www.reliancecapital.co.in
Management
NamePosition Held
Mr. Anil Dhirubhai AmbaniChairman, Non Ind & Non Exe Director
Ms. Chhaya ViraniInd. Non-Executive Director
Mr. Angarai Natarajan SethuramanNon Exe.Non Ind.Director
Mr. Rahul SarinInd. Non-Executive Director
Dr. Thomas MathewInd. Non-Executive Director

Reliance Capital Ltd. Share Price Update

Share PriceValue
Today₹11.79
Previous Day₹11.79

FAQ

What is the intrinsic value of Reliance Capital Ltd and is it undervalued?

As of 03 April 2026, Reliance Capital Ltd's intrinsic value is ₹238.46, which is 1823.06% higher than the current market price of ₹12.40, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (%), book value (₹416), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Reliance Capital Ltd?

Reliance Capital Ltd is trading at ₹12.40 as of 03 April 2026, with a FY2026-2027 high of ₹ and low of ₹. Market cap stands at ₹312 Cr..

How does Reliance Capital Ltd's P/E ratio compare to its industry?

Reliance Capital Ltd has a P/E ratio of 0.58, which is below the industry average of 98.51. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Reliance Capital Ltd financially healthy?

Key indicators for Reliance Capital Ltd: ROCE of 8.16 % is on the lower side compared to the industry average of 21.71%; ROE of % is below ideal levels (industry average: 14.20%). Dividend yield is 0.00 %.

Is Reliance Capital Ltd profitable and how is the profit trend?

Reliance Capital Ltd reported a net profit of ₹442 Cr in Mar 2024 on revenue of ₹24,247 Cr. Compared to ₹-9,287 Cr in Mar 2021, the net profit shows an improving trend.

Does Reliance Capital Ltd pay dividends?

Reliance Capital Ltd has a dividend yield of 0.00 % at the current price of ₹12.40. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Reliance Capital Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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