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Last Updated: April 2, 2026, 3:22 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500390 | NSE: RELINFRA

Reliance Infrastructure Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹72.21Fairly Valued by 3.45%vs CMP ₹69.80

P/E (0.6) × ROE (37.5%) × BV (₹414.00) × DY (2.00%)

₹1,455.75Undervalued by 1,985.60%vs CMP ₹69.80
MoS: +95.2% (Strong)Confidence: 65/100 (Moderate)Models: All 8: Undervalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹207.9827%Under (+198%)
Graham NumberEarnings₹1,217.9516%Under (+1644.9%)
DCFCash Flow₹6,738.4313%Under (+9553.9%)
Net Asset ValueAssets₹413.719%Under (+492.7%)
EV/EBITDAEnterprise₹874.4711%Under (+1152.8%)
Earnings YieldEarnings₹1,592.509%Under (+2181.5%)
ROCE CapitalReturns₹376.319%Under (+439.1%)
Revenue MultipleRevenue₹298.987%Under (+328.3%)
Consensus (8 models)₹1,455.75100%Undervalued
Key Drivers: EPS CAGR 188.0% lifts DCF — verify sustainability. | Wide model spread (₹208–₹6,738) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 188.0%

*Investments are subject to market risks

Investment Snapshot

67
Reliance Infrastructure Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health71/100 · Strong
ROCE 34.0% ExcellentROE 37.5% ExcellentD/E 0.95 ModerateInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money30/100 · Weak
FII holding down -5.63% (6mo) SellingPromoter holding at 19.1% Stable
Earnings Quality75/100 · Strong
OPM expanding (8% → 12%) ImprovingWorking capital: -397 days (improving) Efficient
Quarterly Momentum55/100 · Moderate
Revenue (4Q): -15% YoY DecliningProfit (4Q): +1,301% YoY Strong
Industry Rank85/100 · Strong
P/E 0.6 vs industry 41.9 Cheaper than peersROCE 34.0% vs industry 9.0% Above peersROE 37.5% vs industry 11.7% Above peers3Y sales CAGR: 7% 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: April 2, 2026, 3:22 am

Market Cap 2,853 Cr.
Current Price 69.8
Intrinsic Value₹1,455.75
High / Low 425/64.2
Stock P/E0.57
Book Value 414
Dividend Yield0.00 %
ROCE34.0 %
ROE37.5 %
Face Value 10.0
PEG Ratio0.00

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

View Share Price Target for Reliance Infrastructure Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Reliance Infrastructure Ltd 2,853 Cr. 69.8 425/64.20.57 4140.00 %34.0 %37.5 % 10.0
Gujarat Industries Power Co Ltd 2,009 Cr. 129 224/12013.8 2283.16 %6.44 %6.19 % 10.0
Rattanindia Power Ltd 4,457 Cr. 8.30 16.9/7.5032.9 8.460.00 %8.69 %4.96 % 10.0
Orient Green Power Company Ltd 1,053 Cr. 8.98 15.8/7.9817.5 10.20.00 %6.65 %3.84 % 10.0
PTC India Ltd 4,953 Cr. 167 207/1437.96 1976.99 %11.5 %12.3 % 10.0
Industry Average60,447.10 Cr156.8041.9494.050.95%8.95%11.73%7.77

All Competitor Stocks of Reliance Infrastructure Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 4,1114,1865,5657,1534,6384,6867,1937,2585,0334,1085,9086,2354,297
Expenses 3,8164,3495,4316,4954,1134,3696,5176,6474,4274,0945,6685,1803,867
Operating Profit 294-162134658525317676611606142401,055429
OPM % 7%-4%2%9%11%7%9%8%12%0%4%17%10%
Other Income 673-1,395313221424616633,744-2,9748,9498492,303693
Interest 657643571610578552470472468374427444442
Depreciation 368366371387379366348355359360375368373
Profit before tax -57-2,565-495-118-715-783,527-3,1958,2292872,546307
Tax % 14%-0%-0%5%228%136%-11%0%0%-0%-2%-0%-1%
Net Profit -127-2,484-567-182-301-98-934,195-3,1868,2623052,575317
EPS in Rs -9.31-76.90-19.13-7.42-10.63-5.57-5.90103.06-83.26110.751.4646.770.27

Last Updated: February 4, 2026, 10:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 3:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 19,15116,18526,95225,22918,72819,73119,99017,73519,68922,39822,80524,44120,547
Expenses 16,34014,38922,43520,45515,54524,24218,60717,47117,83220,97220,65320,67818,808
Operating Profit 2,8111,7964,5184,7743,183-4,5111,3832641,8571,4272,1513,7641,739
OPM % 15%11%17%19%17%-23%7%1%9%6%9%15%8%
Other Income 1,2602,7682,5633,4384,2817,2063,2216,754830-501,0577,92612,794
Interest 1,6962,3475,0265,5815,2042,5812,4002,7272,0602,3932,3101,7841,687
Depreciation 5348331,5441,6881,2541,2921,3891,3521,2831,4481,5031,4211,476
Profit before tax 1,8411,3845119431,006-1,1788152,939-656-2,466-6058,48411,370
Tax % 15%5%44%-15%-15%-20%-6%-6%3%0%7%-0%
Net Profit 1,9201,7256931,3941,214-2,3239083,116-868-2,564-1,1489,17711,460
EPS in Rs 72.7768.4528.8854.1947.74-92.2829.3242.79-37.98-91.57-40.61124.64159.25
Dividend Payout % 10%12%29%17%20%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-10.16%-59.83%101.15%-12.91%-291.35%139.09%243.17%-127.86%-195.39%55.23%899.39%
Change in YoY Net Profit Growth (%)0.00%-49.67%160.98%-114.07%-278.44%430.44%104.08%-371.03%-67.54%250.62%844.16%

Reliance Infrastructure Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:4%
5 Years:4%
3 Years:7%
TTM:-6%
Compounded Profit Growth
10 Years:11%
5 Years:37%
3 Years:86%
TTM:402%
Stock Price CAGR
10 Years:-1%
5 Years:60%
3 Years:17%
1 Year:37%
Return on Equity
10 Years:5%
5 Years:4%
3 Years:7%
Last Year:38%

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

Balance Sheet

Last Updated: December 4, 2025, 1:41 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 263263263263263263263263263352396396409
Reserves 26,32826,71121,38923,08423,41713,9139,52910,59712,1448,9428,35114,03416,501
Borrowings 24,28925,77030,55025,81425,44117,77217,14713,90712,71811,5109,8956,3615,737
Other Liabilities 18,04818,10348,56749,12150,71136,24737,92137,22637,27740,09640,51745,04947,062
Total Liabilities 68,92870,847100,76998,28299,83268,19464,86161,99462,40360,89959,15965,84169,709
Fixed Assets 10,30117,69732,88736,56739,39324,94823,25319,50519,00219,75617,75717,71417,552
CWIP 10,7895,0814,9712,3603,0052,5922,5292,0252,1981,0151,3021,3731,321
Investments 18,28017,61813,20013,14313,0926,7421,3941,7694,7004,3383,9048,67110,421
Other Assets 29,55730,45149,71246,21244,34233,91137,68338,69636,50335,79136,19638,08340,414
Total Assets 68,92870,847100,76998,28299,83268,19464,86161,99462,40360,89959,15965,84169,709

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 4,4123,29010,2968,6788,1536842,8751,4363,7993,4584,0973,657
Cash from Investing Activity + -5,936-1,726-5,690-75-8052,759-80818-502-1,333415-1,731
Cash from Financing Activity + 1,721-1,707-4,704-8,452-7,428-3,334-1,979-1,531-2,942-2,242-3,648-1,252
Net Cash Flow 197-143-98152-8010987-77356-117865674
Free Cash Flow 7811,3349,1516,3606,563-7351,5674763,0472,1223,2132,201
CFO/OP 164%192%228%185%263%-12%197%572%201%236%186%98%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-22.00-24.00-26.00-21.00-22.00-21.00-16.00251.00-11.00-10.00-7.00-3.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 95124768210683908176422723
Inventory Days
Days Payable
Cash Conversion Cycle 95124768210683908176422723
Working Capital Days -78-67-85-111-380-314-322-370-375-392-379-397
ROCE %6%6%11%10%12%18%11%19%5%9%7%34%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 18.67%18.65%16.56%16.50%16.50%16.50%16.50%16.50%16.50%19.05%19.05%19.05%
FIIs 12.30%12.92%12.14%12.69%11.77%12.37%8.38%9.00%11.35%10.26%7.07%5.72%
DIIs 3.13%3.06%2.85%2.64%2.16%2.26%1.40%1.34%1.36%1.38%1.27%1.06%
Government 0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.02%0.01%0.01%0.01%
Public 65.74%65.22%68.33%68.03%69.42%68.75%73.59%73.01%70.66%69.18%72.47%74.03%
Others 0.13%0.13%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%0.11%
No. of Shareholders 7,15,0067,06,9686,94,3136,59,1686,65,7297,01,5837,12,1046,91,8426,81,3957,12,5877,17,7836,72,172

Shareholding Pattern Chart

No. of Shareholders

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

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Motilal Oswal Nifty Microcap 250 Index Fund 289,385 0.96 5.49289,3852025-04-22 17:25:250%
Groww Nifty Total Market Index Fund 730 0.03 0.017302025-04-22 17:25:250%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 124.64-42.66-112.98-35.68-20.24
Diluted EPS (Rs.) 120.68-42.66-112.98-35.68-20.24
Cash EPS (Rs.) 250.1821.64-29.1222.9845.92
Book Value[Excl.RevalReserv]/Share (Rs.) 364.24349.84396.59626.97432.84
Book Value[Incl.RevalReserv]/Share (Rs.) 364.24349.84396.59626.97432.84
Revenue From Operations / Share (Rs.) 595.50557.06586.83699.96635.08
PBDIT / Share (Rs.) 105.1063.2049.2996.91127.08
PBIT / Share (Rs.) 69.2325.268.1248.1275.68
PBT / Share (Rs.) 214.15-15.26-70.08-24.95-11.84
Net Profit / Share (Rs.) 214.30-16.30-70.29-25.81-5.49
NP After MI And SOA / Share (Rs.) 124.63-40.61-91.56-35.68-20.24
PBDIT Margin (%) 17.6411.348.3913.8420.01
PBIT Margin (%) 11.624.531.386.8711.91
PBT Margin (%) 35.96-2.73-11.94-3.56-1.86
Net Profit Margin (%) 35.98-2.92-11.97-3.68-0.86
NP After MI And SOA Margin (%) 20.92-7.28-15.60-5.09-3.18
Return on Networth / Equity (%) 34.21-18.39-34.66-7.46-5.78
Return on Capital Employeed (%) 8.044.301.124.398.15
Return On Assets (%) 7.49-2.71-5.28-1.49-0.85
Long Term Debt / Equity (X) 0.130.360.470.430.70
Total Debt / Equity (X) 0.431.111.231.010.95
Asset Turnover Ratio (%) 0.370.360.330.030.03
Current Ratio (X) 1.181.031.011.061.01
Quick Ratio (X) 1.181.021.011.061.01
Inventory Turnover Ratio (X) 167.450.000.000.000.00
Dividend Payout Ratio (NP) (%) 0.19-0.54-0.24-0.890.00
Dividend Payout Ratio (CP) (%) 0.15-8.33-0.452.430.00
Earning Retention Ratio (%) 99.81100.54100.24100.890.00
Cash Earning Retention Ratio (%) 99.85108.33100.4597.570.00
Interest Coverage Ratio (X) 2.331.080.721.240.68
Interest Coverage Ratio (Post Tax) (X) 1.540.410.110.600.44
Enterprise Value (Cr.) 23057.7323415.9819802.3218294.6910957.62
EV / Net Operating Revenue (X) 0.971.060.950.990.65
EV / EBITDA (X) 5.549.3511.427.183.28
MarketCap / Net Operating Revenue (X) 0.430.480.240.160.05
Retention Ratios (%) 99.80100.54100.24100.890.00
Price / BV (X) 0.701.220.540.230.10
Price / Net Operating Revenue (X) 0.430.480.240.160.05
EarningsYield 0.48-0.15-0.63-0.31-0.57

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Reliance Infrastructure Ltd. is a Public Limited Listed company incorporated on 01/10/1929 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L75100MH1929PLC001530 and registration number is 001530. Currently Company is involved in the business activities of Collection and distribution of electric energy to households, industrial, commercial and other users. Company's Total Operating Revenue is Rs. 211.81 Cr. and Equity Capital is Rs. 396.17 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionReliance Centre, Mumbai Maharashtra 400001Contact not found
Management
NamePosition Held
Mr. Vijesh Babu ThotaExecutive Director & CFO
Mrs. Manjari KackerInd. Non-Executive Director
Ms. Chhaya ViraniInd. Non-Executive Director
Mr. Virendra Singh VermaInd. Non-Executive Director
Dr. Thomas MathewInd. Non-Executive Director
Mr. Rajesh Kumar DhingraNon Exe.Non Ind.Director
Mr. Partha Pratim SarmaNon Exe.Non Ind.Director

FAQ

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

As of 10 April 2026, Reliance Infrastructure Ltd's intrinsic value is ₹1455.75, which is 1985.60% higher than the current market price of ₹69.80, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (37.5 %), book value (₹414), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Reliance Infrastructure Ltd is trading at ₹69.80 as of 10 April 2026, with a FY2026-2027 high of ₹425 and low of ₹64.2. The stock is currently near its 52-week low. Market cap stands at ₹2,853 Cr..

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

Reliance Infrastructure Ltd has a P/E ratio of 0.57, which is below the industry average of 41.94. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Reliance Infrastructure Ltd financially healthy?

Key indicators for Reliance Infrastructure Ltd: ROCE of 34.0 % indicates efficient capital utilization; ROE of 37.5 % shows strong shareholder returns. Dividend yield is 0.00 %.

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

Reliance Infrastructure Ltd reported a net profit of ₹9,177 Cr in Mar 2025 on revenue of ₹24,441 Cr. Compared to ₹-868 Cr in Mar 2022, the net profit shows an improving trend.

Does Reliance Infrastructure Ltd pay dividends?

Reliance Infrastructure Ltd has a dividend yield of 0.00 % at the current price of ₹69.80. 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 Infrastructure 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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