Reliance Infrastructure Ltd

RELINFRA

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Market Cap

₹ 5,839 Cr

P/E

1.42

Turned 1 L into 5.52 L in last 5 Years

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

UNDERVALUED

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Reliance Infrastructure Limited specializes in engineering and construction services for power, roads, metro rail, and other infrastructure sectors. It also participates in the operation and maintenance of infrastructure projects, including defense sector initiatives.

The company has a significant history, evolving from its initial presence as Bombay Suburban Electric Supply Limited (BSES) to its current form, focusing on infrastructure and utility services.

Reliance Infrastructure Limited has executed substantial infrastructure projects such as the Mumbai Metro Line and has ventured into defense manufacturing and smart city development for defense purposes.

Strategic expansions and mergers over the years have positioned the company to divest non-core assets while strengthening its expertise in engineering and construction of critical infrastructure.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

5,839 Cr

Volatility

High Risk

P/E Ratio

1.4

Industry P/E

25.9

PEG Ratio

0.0

P/B Ratio

0.4

52W High

425.00

52W Low

127.95

Sales CAGR

7.18%

-47.54%

-30.64%

10Y

-34.67%

Profit CAGR

1415.15%

—

10Y

—

ROE

TTM

24.27%

0.21%

0.28%

10Y

1.10%

ROCE

TTM

35.16%

13.38%

12.82%

10Y

9.53%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ISGEC	840.00	6,214 Cr	24.42	2.23	0.59	9.13	12.47	2.98
RELINFRA	142.90	5,839 Cr	1.42	0.35	0.00	24.27	35.16	11.30
IONEXCHANG	382.65	5,612 Cr	26.70	4.34	0.39	16.26	17.46	6.79
SWSOLAR	212.55	4,964 Cr	23.75	10.56	0.00	44.47	23.95	-7.55
ASHOKA	169.60	4,761 Cr	3.11	1.13	0.00	36.41	35.00	7.46
ORIANA	2200.90	4,472 Cr	28.21	8.77	0.00	36.38	36.11	13.66
PACEDIGITK	198.50	4,282 Cr	17.43	2.03	0.00	19.06	26.93	8.30

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	5,565	7,153	4,638	4,686	7,193	7,258	5,033	4,108	5,908	6,235
Expenses	5,431	6,104	4,113	4,369	5,982	5,623	4,137	4,094	5,686	5,180
Operating Profit	134	1,049	525	317	1,211	1,636	895	14	222	1,055
OPM %	2.40	14.66	11.33	6.77	16.84	22.53	17.79	0.35	3.76	16.93
Other Income	-274	221	204	317	63	3,744	-2,974	674	128	1,584
Interest	571	610	578	552	470	472	468	375	409	444
Depreciation	371	387	379	366	348	355	359	360	375	368
Profit Before Tax	-495	-118	-6.57	15	-78	3,527	-3,195	8,229	287	2,546
Tax %	0.01	-4.59	-228.46	135.77	11.27	0.01	-0.15	-0.03	-2.23	-0.26
Net Profit	-495	-124	-22	-5.43	-69	3,527	-3,199	8,232	294	2,553
EPS in Rs	-16.47	-7.96	-9.78	-5.06	-5.72	99.91	-80.71	107.36	2.12	45.27

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	24,483	17,885	19,174	18,874	16,705	18,411	20,742	22,067	23,592	22,307
Expenses	19,772	14,272	16,992	17,650	16,465	16,583	19,427	20,016	19,835	19,539
Operating Profit	4,711	3,613	2,183	1,224	240	1,828	1,315	2,051	3,756	2,767
OPM %	19.24	20.20	11.38	6.49	1.43	9.93	6.34	9.29	15.92	12.41
Other Income	3,505	3,024	-3,442	3,380	6,778	860	61	1,157	7,933	1,572
Interest	5,581	5,204	2,581	2,400	2,727	2,060	2,393	2,310	1,784	1,723
Depreciation	1,688	1,254	1,292	1,389	1,352	1,283	1,449	1,503	1,421	1,448
Profit Before Tax	947	178	-5,133	815	2,939	-656	-2,466	-605	8,484	8,849
Tax %	-15.02	-84.97	4.64	-6.25	-5.69	-3.44	-0.30	-6.78	-0.07	-0.04
Net Profit	1,089	330	-4,894	866	3,106	-679	-2,473	-646	8,490	8,853
EPS in Rs	34.87	32.13	-59.38	18.23	27.83	-21.86	-93.21	-39.27	120.84	74.04
Dividend Payout %	16.61	19.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	263	263	263	263	263	263	263	352	396	396
Reserves	21,389	23,084	23,417	13,913	9,529	10,597	12,144	8,942	8,351	14,034
Borrowings	26,359	20,675	20,407	15,860	14,382	13,907	12,718	11,510	9,741	6,361
Other Liabilities	52,784	54,327	56,030	38,347	40,929	37,396	37,407	40,190	40,692	45,050
Total Liabilities	1,00,795	98,349	1,00,117	68,383	65,103	62,163	62,533	60,993	59,181	65,841
Fixed Assets	32,887	36,009	38,864	24,446	22,771	19,505	19,002	19,756	17,757	17,714
CWIP	4,971	2,360	3,005	2,592	2,529	2,025	2,198	1,015	1,302	1,373
Investments	13,200	13,701	13,621	7,245	1,877	1,769	4,700	4,338	3,904	8,671
Other Assets	49,738	46,279	44,627	34,100	37,926	38,865	36,633	35,885	36,217	38,084
Total Assets	1,00,795	98,349	1,00,117	68,383	65,103	62,163	62,533	60,993	59,181	65,841

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	10,296	8,678	8,153	684	2,875	1,436	3,799	3,458	4,097	3,657
Cash from Investing Activity	-5,690	-75	-805	2,759	-808	18	-502	-1,333	415	-1,731
Cash from Financing Activity	-4,704	-8,452	-7,428	-3,334	-1,979	-1,531	-2,942	-2,242	-3,648	-1,252
Net Cash Flow	-98	152	-80	109	87	-77	356	-117	865	674

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	4.57%	18.70%	18.68%	16.58%	16.52%	16.52%	16.52%	16.52%	16.52%	16.52%	19.08%	19.08%
FIIs	11.95%	12.32%	12.94%	12.15%	12.71%	11.79%	12.38%	8.40%	9.01%	11.36%	11.02%	7.09%
DIIs	3.96%	3.23%	3.15%	2.89%	2.66%	2.23%	2.29%	1.42%	1.37%	1.38%	1.33%	1.28%
Public	79.52%	65.75%	65.24%	68.38%	68.11%	69.46%	68.81%	73.67%	73.10%	70.74%	68.57%	72.56%
Total Shareholders	7,26,465	7,15,006	7,06,968	6,94,313	6,59,168	6,65,729	7,01,583	7,12,104	6,91,842	6,81,395	6,81,395	7,17,783

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 20, 2024	Hrti private limited	Bulk	Sell	311.02	72.62 Cr	23,34,888	0.58
Sep 20, 2024	Aakraya research llp	Bulk	Sell	311.38	129.85 Cr	41,70,062	1.05
Sep 20, 2024	Aakraya research llp	Bulk	Buy	311.19	129.77 Cr	41,70,234	1.05
Sep 20, 2024	Hrti private limited	Bulk	Buy	311.15	57.77 Cr	18,56,612	0.46
Sep 19, 2024	Aakraya research llp	Bulk	Buy	287.62	83.89 Cr	29,16,711	0.73
Sep 19, 2024	Aakraya research llp	Bulk	Sell	287.73	83.96 Cr	29,18,076	0.73
Sep 19, 2024	Hrti private limited	Bulk	Sell	286.48	70.47 Cr	24,59,844	0.62
Sep 19, 2024	Hrti private limited	Bulk	Buy	284.72	68.78 Cr	24,15,785	0.60
Aug 23, 2024	Hrti private limited	Bulk	Sell	216.91	60.56 Cr	27,91,727	0.70
Aug 23, 2024	Hrti private limited	Bulk	Buy	216.00	58.77 Cr	27,20,709	0.68

Projection

Actions

Action Type

‌
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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

22 hours ago

November 2025 Report on Physical Share Transfer Requests

Reliance Infrastructure Limited reports no requests for re-lodgement of transfer transactions of physical shares during November 2025, alongside planned outreach initiatives.

Regulatory Filing

6 days ago

Reliance Infrastructure Disclosure on ED Order

Reliance Infrastructure Limited disclosed that the Enforcement Directorate has placed a lien of Rs. 77.86 crore on its bank accounts due to alleged FEMA violations.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	5,565	7,153	4,638	4,686	7,193	7,258	5,033	4,108	5,908	6,235
Expenses	5,431	6,104	4,113	4,369	5,982	5,623	4,137	4,094	5,686	5,180
Operating Profit	134	1,049	525	317	1,211	1,636	895	14	222	1,055
OPM %	2.40	14.66	11.33	6.77	16.84	22.53	17.79	0.35	3.76	16.93
Other Income	-274	221	204	317	63	3,744	-2,974	674	128	1,584
Interest	571	610	578	552	470	472	468	375	409	444
Depreciation	371	387	379	366	348	355	359	360	375	368
Profit Before Tax	-495	-118	-6.57	15	-78	3,527	-3,195	8,229	287	2,546
Tax %	0.01	-4.59	-228.46	135.77	11.27	0.01	-0.15	-0.03	-2.23	-0.26
Net Profit	-495	-124	-22	-5.43	-69	3,527	-3,199	8,232	294	2,553
EPS in Rs	-16.47	-7.96	-9.78	-5.06	-5.72	99.91	-80.71	107.36	2.12	45.27

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	24,483	17,885	19,174	18,874	16,705	18,411	20,742	22,067	23,592	22,307
Expenses	19,772	14,272	16,992	17,650	16,465	16,583	19,427	20,016	19,835	19,539
Operating Profit	4,711	3,613	2,183	1,224	240	1,828	1,315	2,051	3,756	2,767
OPM %	19.24	20.20	11.38	6.49	1.43	9.93	6.34	9.29	15.92	12.41
Other Income	3,505	3,024	-3,442	3,380	6,778	860	61	1,157	7,933	1,572
Interest	5,581	5,204	2,581	2,400	2,727	2,060	2,393	2,310	1,784	1,723
Depreciation	1,688	1,254	1,292	1,389	1,352	1,283	1,449	1,503	1,421	1,448
Profit Before Tax	947	178	-5,133	815	2,939	-656	-2,466	-605	8,484	8,849
Tax %	-15.02	-84.97	4.64	-6.25	-5.69	-3.44	-0.30	-6.78	-0.07	-0.04
Net Profit	1,089	330	-4,894	866	3,106	-679	-2,473	-646	8,490	8,853
EPS in Rs	34.87	32.13	-59.38	18.23	27.83	-21.86	-93.21	-39.27	120.84	74.04
Dividend Payout %	16.61	19.90	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	263	263	263	263	263	263	263	352	396	396
Reserves	21,389	23,084	23,417	13,913	9,529	10,597	12,144	8,942	8,351	14,034
Borrowings	26,359	20,675	20,407	15,860	14,382	13,907	12,718	11,510	9,741	6,361
Other Liabilities	52,784	54,327	56,030	38,347	40,929	37,396	37,407	40,190	40,692	45,050
Total Liabilities	1,00,795	98,349	1,00,117	68,383	65,103	62,163	62,533	60,993	59,181	65,841
Fixed Assets	32,887	36,009	38,864	24,446	22,771	19,505	19,002	19,756	17,757	17,714
CWIP	4,971	2,360	3,005	2,592	2,529	2,025	2,198	1,015	1,302	1,373
Investments	13,200	13,701	13,621	7,245	1,877	1,769	4,700	4,338	3,904	8,671
Other Assets	49,738	46,279	44,627	34,100	37,926	38,865	36,633	35,885	36,217	38,084
Total Assets	1,00,795	98,349	1,00,117	68,383	65,103	62,163	62,533	60,993	59,181	65,841

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	10,296	8,678	8,153	684	2,875	1,436	3,799	3,458	4,097	3,657
Cash from Investing Activity	-5,690	-75	-805	2,759	-808	18	-502	-1,333	415	-1,731
Cash from Financing Activity	-4,704	-8,452	-7,428	-3,334	-1,979	-1,531	-2,942	-2,242	-3,648	-1,252
Net Cash Flow	-98	152	-80	109	87	-77	356	-117	865	674

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
ISGEC	840.00	6,214 Cr	24.42	2.23	0.59	9.13	12.47	2.98
RELINFRA	142.90	5,839 Cr	1.42	0.35	0.00	24.27	35.16	11.30
IONEXCHANG	382.65	5,612 Cr	26.70	4.34	0.39	16.26	17.46	6.79
SWSOLAR	212.55	4,964 Cr	23.75	10.56	0.00	44.47	23.95	-7.55
ASHOKA	169.60	4,761 Cr	3.11	1.13	0.00	36.41	35.00	7.46
ORIANA	2200.90	4,472 Cr	28.21	8.77	0.00	36.38	36.11	13.66
PACEDIGITK	198.50	4,282 Cr	17.43	2.03	0.00	19.06	26.93	8.30

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

The company has a significant history, evolving from its initial presence as Bombay Suburban Electric Supply Limited (BSES) to its current form, focusing on infrastructure and utility services.

Strategic expansions and mergers over the years have positioned the company to divest non-core assets while strengthening its expertise in engineering and construction of critical infrastructure.

Sector

Infrastructure Developers & Operators

Industry

Engineering - Turnkey Services

Market Cap

5,839 Cr

Volatility

High Risk

P/E Ratio

1.4

Industry P/E

25.9

PEG Ratio

0.0

P/B Ratio

0.4

52W High

425.00

52W Low

127.95

Sales CAGR

7.18%

-47.54%

-30.64%

10Y

-34.67%

Profit CAGR

1415.15%

—

10Y

—

ROE

TTM

24.27%

0.21%

0.28%

10Y

1.10%

ROCE

TTM

35.16%

13.38%

12.82%

10Y

9.53%