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Reliance Industries Q1 FY27 Share Price & Earnings Call Analysis

₹1,155.00-1.18% today
Market cap
₹15.63L Cr
P/E
20.92
ROE
8.91%
PEG
4.00
Price to sales
1.39
Debt to equity
0.45
52W high / low
₹1,592 / ₹1,158
Sales growth (5Y)
17.76%
EBITDA margin
16.34%
Net profit margin
8.74%
Promoter holding
50.48%
Sales (last year)
₹11.23L Cr

Guidance scorecard · Q1 FY27 call

What Reliance Industries's management guided

Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • Retail revenue growth is healthy, with digital commerce orders up 116% YoY and omni-channel customers spending 20-25% more YoY.
  • Retail overall revenue growth was about 12% (adjusted 11.6%) with strong double-digit growth across grocery, fashion, and electronics.
  • FMCG revenue doubled vs last year, targeting Rs.1 lakh crore by FY2030, with leadership goals in all categories.
  • Online commerce share is accelerating with plans to expand dark stores and omni-channel platforms, aiming for 2x EBITDA in 3 years.

2 more points from Reliance Industries's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Reliance Industries said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Capex in Q1 was about Rs.
  • Capex priorities include O2C (Oil to Chemicals), New Energy, hyperlocal retail strategy, data centers, and digital commerce buildout.
  • Jio announced capex reduction but continues investment selectively, especially in hyperlocal retail digital infrastructure with a focus on EBITDA margin trade-offs rather than heavy physical capital.

2 more points from Reliance Industries's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Reliance Industries said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Reliance Industries said on the order book →

Full Q1 FY27 analysis

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

This quarter's potential multibaggers
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Reliance Industries rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Reliance Industries announcements

All announcements →

Financials of Reliance Industries

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Reliance Industries

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +212,834207,559231,886225,086236,533231,784231,535239,986261,388243,632254,623264,905294,059
Expenses +174,478169,466190,918184,430194,017193,019192,477196,197217,556200,727208,738218,887249,918
Operating Profit38,35638,09340,96840,65642,51638,76539,05843,78943,83242,90545,88546,01844,141
OPM %18%18%18%18%18%17%17%18%17%18%18%17%15%
Other Income +2,9963,8133,8413,8694,5343,9834,8764,2144,90515,1194,4824,9144,447
Interest5,8195,8375,7315,7895,7615,9186,0176,1796,1557,0366,8276,6136,585
Depreciation11,45211,77512,58512,90313,56913,59612,88013,18113,47913,84214,41614,62214,808
Profit before tax24,08124,29426,49325,83327,72023,23425,03728,64329,10337,14629,12429,69727,195
Tax %11%25%25%25%24%25%24%24%23%17%24%25%24%
Net Profit +21,32718,25819,87819,64121,24317,44519,32321,93022,61130,78322,09222,29020,589
EPS in Rs14.2611.8312.8512.7614.0111.1912.2413.7014.3419.9513.4213.7812.54

Financials of Reliance Industries

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +374,372272,583303,954390,823568,337596,679466,307694,673876,396899,041962,8201,057,219
Expenses +336,923230,802257,647326,508484,087507,413385,517586,092734,078736,543797,222878,270
Operating Profit37,44941,78146,30764,31584,25089,26680,790108,581142,318162,498165,598178,949
OPM %10%15%15%16%15%15%17%16%16%18%17%17%
Other Income +8,52812,2129,2229,8698,4068,57022,43219,60012,02015,79217,82428,962
Interest3,3163,6913,8498,05216,49522,02721,18914,58419,57123,11824,26927,061
Depreciation11,54711,56511,64616,70620,93422,20326,57229,78240,30350,83253,13657,688
Profit before tax31,11438,73740,03449,42655,22753,60655,46183,81594,464104,340106,017123,162
Tax %24%23%25%27%28%26%3%19%22%25%24%22%
Net Profit +23,64029,86129,83336,08039,83739,88053,73967,84574,08879,02081,30995,754
EPS in Rs17.0721.5121.5526.6929.2829.1038.7544.8749.2951.4551.4759.69
Dividend Payout %12%10%11%10%10%10%9%9%9%10%11%10%

Financials of Reliance Industries

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital2,9432,9482,9595,9225,9266,3396,4456,7656,7666,76613,53213,532
Reserves215,556228,608260,750287,584381,186442,827693,727772,720709,106786,715829,668890,498
Borrowings +168,251194,714217,475239,843307,714355,133278,962319,158451,664350,719374,313398,000
Other Liabilities +117,736172,727225,618277,924302,804358,716340,931399,979438,346610,848732,200876,110
Total Liabilities504,486598,997706,802811,273997,6301,163,0151,320,0651,498,6221,605,8821,755,0481,949,7132,178,140
Fixed Assets +156,458184,910198,526403,885398,374532,658541,258627,798724,805779,985999,3931,170,194
CWIP166,462228,697324,837187,022179,463109,106125,953172,506293,752338,855262,358192,287
Investments76,45184,01582,89982,862235,635276,767364,828394,264235,560225,672242,381248,332
Other Assets +105,115101,375100,540137,504184,158244,484288,026304,054351,765410,536445,581567,327
Total Assets504,486598,997706,802811,273997,6301,163,0151,320,0651,498,6221,605,8821,755,0481,949,7132,178,140

Financials of Reliance Industries

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +34,37438,13449,55071,45942,34694,87726,958110,654115,032158,788178,703192,113
Cash from Investing Activity +-64,706-36,186-66,201-68,192-94,507-72,497-142,385-109,162-93,001-113,581-137,535-101,089
Cash from Financing Activity +8,444-3,2108,617-2,00155,906-2,541101,90417,28910,455-16,646-31,891-51,549
Net Cash Flow-21,888-1,262-8,0341,2663,74519,839-13,52318,78132,48628,5619,27739,475
Free Cash Flow-28,588-8,420-27,077-1,495-50,43119,324-76,56013,646-16,77021,21241,07970,023
CFO/OP109%112%129%126%65%116%37%105%85%105%115%113%

Financials of Reliance Industries

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days5610161912151212131620
Inventory Days6690848363671028387958588
Days Payable74117132146100871361239111110884
Cash Conversion Cycle-2-21-38-46-18-9-19-277-3-824
Working Capital Days-64-148-179-179-108-158-58-56-66-53-68-32
ROCE %9%10%10%11%12%11%8%8%9%10%10%10%

Guidance history

How Reliance Industries's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned——
Q4 FY26 call →10–20%FlatPlanned——
Q3 FY26 call →10–20%FlatPlannedPlanned—
Q2 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

15out of 100

Momentum score · price trend

15 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−22.4%34%
Last 6 months−18.4%21%
Last 3 months−9.7%41%

The price is 26.9% below its all-time high of ₹1,596.73 (12 Jul 2024). Stocks more than 20% below their peak have their score halved, so 30 became 15.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Reliance Industries: 0.4 × 34 + 0.4 × 21 + 0.2 × 41 = 30, halved to 15 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Reliance Industries's management said in earlier quarters