Key Metrics of Reliance Industries
About Reliance Industries
Part of Reliance Industries Limited.
Sectors
Company details
- Website
- careers.ril.com
- Founded
- 1958
- Registered office
- 3 Rd Floormaker Chamber Iv 222 Nariman Point, Mumbai, In-mh, 400021
- Listed
- NSE: RELIANCE · ₹1,196.20
Operational Areas of Reliance Industries
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 21 Oct 2026 | ICRA | Reaffirmed | AAA | A1+ | Stable | ₹72,000 Cr | View |
| 25 Sep 2026 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹91,500 Cr | View |
| 09 Sep 2026 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹81,500 Cr | View |
| 03 Jul 2026 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹66,500 Cr | View |
| 04 Jul 2025 | CARE | Other | — | — | — | — | View |
| 05 Jul 2024 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹69,295 Cr | View |
| 01 Nov 2023 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹69,295 Cr | View |
| 05 Jul 2023 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹57,130 Cr | View |
| 06 Jul 2022 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹1,72,910 Cr | View |
| 18 Feb 2022 | CARE | Other | — | — | — | — | View |
| 07 Jul 2021 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹95,886 Cr | View |
| 04 Mar 2021 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹1,09,886 Cr | View |
| 07 Jul 2020 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹1,09,886 Cr | View |
| 12 May 2020 | CARE | Other | AAA | — | Stable | ₹10,000 Cr | View |
| 06 Apr 2020 | CARE | Other | AAA | — | — | ₹15,000 Cr | View |
| 30 Mar 2020 | CARE | Assigned | AAA | — | Stable | ₹10,386 Cr | View |
| 03 Oct 2019 | CARE | Reaffirmed | AAA | A1+ | Stable | ₹64,500 Cr | View |
| 05 Mar 2019 | CARE | Assigned | AAA | — | Stable | ₹8,000 Cr | View |
Credit strengths (ICRA, Oct 2026)
+ Leadership position across O2C, retail and digital services
RIL maintains a strong leadership position in the O2C business, supported by integrated operations, feedstock flexibility and scale.
+ Strong coverage indicators and healthy capital structure
The consolidated debt reported by RIL (including lease liabilities and excluding capital creditors & spectrum liabilities) increased to Rs. 3,98,000 crore as on March 31, 2026, from Rs. 369,575 crore as on March 31, 2025.
+ Exceptionally high financial flexibility
RIL enjoys exceptional financial flexibility arising from its large liquid investments, strong standing with financial institutions and a proven track record of raising long-tenure funds from the international and domestic bond markets at fine rates.
Credit challenges
− Profitability exposed to cyclicality in O2C and E&P segments
RIL derives a significant portion of its profits from O2C and E&P operations.
− Significant competitive intensity in retail segment
RRVL faces competition from organised brick-and-mortar and online players as well as from a large unorganised segment, with the rapid emergence of quick commerce intensifying competitive pressures.
− Telecom business exposed to competitive and technology risks along with regulatory risk
JPL has set up a country-wide network infrastructure and acquired spectrum across multiple bands.
Could lead to a downgrade
A significantly large debt-funded capex and/or acquisition resulting in a moderation of the company’s credit metrics may result in a downgrade. A specific credit metric for downgrade would be net debt/OPBITDA of more than 2.5x on a sustained basis.
Agency-reported financials (ICRA, 21 Oct 2026)
| Metric | FY2025 | FY2026 | Q1 FY2027 |
|---|---|---|---|
| Operating income | ₹9,64,693 Cr | ₹10,57,219 Cr | ₹3,09,468 Cr |
| PAT | ₹80,787 Cr | ₹95,610 Cr | ₹23,001 Cr |
| OPBDIT/OI | 17.2% | 16.9% | 15.4% |
| PAT/OI | 8.4% | 9.0% | 7.4% |
| Total outside liabilities/Tangible net worth (times) | 0.90× | 1.00× | — |
| Total debt/OPBDITA (times) | 2.20× | 2.20× | — |
| Interest coverage (times) | 6.80× | 6.60× | 5.70× |
| Revenue growth (YoY) | — | 9.6% | — |
| EBITDA (margin × income) | ₹1,65,927 Cr | ₹1,78,670 Cr | ₹47,658 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹3,65,040 Cr | ₹3,93,074 Cr | — |
| Implied interest cost (EBITDA ÷ coverage) | ₹24,401 Cr | ₹27,071 Cr | ₹8,361 Cr |
Borrowings & rated debt
Rated limits over time
Facility mix
Maturity ladder
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Non-convertible debentures | Debentures & bonds | — | ₹10,000 Cr | — | AAA (Stable) | Assigned | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹6,500 Cr | — | AAA (Stable) | Reaffirmed | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹5,500 Cr | — | AAA (Stable) | Reaffirmed | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹20,000 Cr | — | AAA (Stable) | Reaffirmed | CARE |
| Non-convertible debentures | Debentures & bonds | — | ₹15,000 Cr | — | AAA (Stable) | Reaffirmed | CARE |
| Commercial Paper | Commercial paper | — | ₹34,500 Cr | — | A1+ | Reaffirmed | CARE |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| INE002A08534 | NCD | Debentures & bonds | 9.05% | 17 Oct 2018 | 17 Oct 2028 | ₹3,500 Cr | AAA | Outstanding |
| INE002A08542 | NCD | Debentures & bonds | 8.95% | 09 Nov 2018 | 09 Nov 2028 | ₹3,000 Cr | AAA | Outstanding |
| INE002A08567 | NCD | Debentures & bonds | 8.65% | 11 Dec 2018 | 11 Dec 2028 | ₹3,000 Cr | AAA | Outstanding |
| INE002A08690 | NCD | Debentures & bonds | 8.70% | 11 Dec 2018 | 11 Dec 2028 | ₹2,500 Cr | AAA | Outstanding |
| INE002A08666 | — | Debentures & bonds | 8.70% | 11 Dec 2018 | 11 Dec 2028 | — | — | Outstanding |
| INE002A08559 | — | Debentures & bonds | 8.70% | 11 Dec 2018 | 11 Dec 2028 | — | — | Outstanding |
| INE002A08708 | — | Debentures & bonds | 7.47% | — | — | ₹12,000 Cr | AAA | Not stated |
| INE002A07809 | — | Debentures & bonds | 7.79% | — | — | ₹20,000 Cr | AAA | Not stated |
| INE002A08674 | — | Debentures & bonds | — | — | — | — | — | Not stated |
| INE002A08484 | — | Debentures & bonds | 6.78% | — | — | — | — | Not stated |
| INE002A08492 | — | Debentures & bonds | 6.80% | — | — | — | — | Not stated |
| INE002A08518 | — | Debentures & bonds | 6.95% | — | — | — | — | Not stated |
| INE002A08526 | — | Debentures & bonds | 7.07% | — | — | — | — | Not stated |
| INE002A08583 | — | Debentures & bonds | 8.70% | — | — | — | — | Not stated |
| INE110L08011 | — | Debentures & bonds | 8.95% | — | — | — | — | Not stated |
| INE002A14EQ9 | — | Commercial paper | — | — | — | ₹2,725 Cr | — | Not stated |
| INE002A14EY3 | — | Commercial paper | — | — | — | ₹550 Cr | — | Not stated |
| INE002A14FP8 | — | Commercial paper | — | — | — | ₹1,075 Cr | — | Not stated |
| INE002A14KF9 | — | Commercial paper | 6.95% | 11 Aug 2023 | 10 Nov 2023 | ₹850 Cr | — | Matured |
| INE002A14KG7 | — | Commercial paper | 6.95% | 11 Aug 2023 | 09 Nov 2023 | ₹2,000 Cr | — | Matured |
| INE002A14KE2 | — | Commercial paper | 6.95% | 11 Aug 2023 | 08 Nov 2023 | ₹1,000 Cr | — | Matured |
| INE002A08658 | MIBOR+ | Debentures & bonds | 2.90% | 19 May 2020 | 21 Sep 2023 | ₹0 | — | Withdrawn |
| INE002A08625 | — | Debentures & bonds | 7.05% | 13 May 2020 | 13 Sep 2023 | ₹0 | — | Withdrawn |
| INE002A08633 | — | Debentures & bonds | 6.95% | 13 May 2020 | 12 May 2023 | ₹0 | — | Matured |
| INE002A08591 | Repo Rate+ | Debentures & bonds | 2.80% | 17 Apr 2020 | 17 Apr 2023 | ₹0 | — | Withdrawn |
| INE002A08609 | — | Debentures & bonds | 7.20% | 17 Apr 2020 | 17 Apr 2023 | ₹0 | — | Withdrawn |
| INE110L07096 | — | Debentures & bonds | 8.00% | 16 Apr 2018 | 16 Apr 2023 | ₹0 | — | Matured |
| INE110L07088 | — | Debentures & bonds | 8.00% | 09 Apr 2018 | 09 Apr 2023 | ₹0 | — | Matured |
| INE002A08641 | — | Debentures & bonds | 6.95% | 13 May 2020 | 15 Mar 2023 | ₹0 | — | Matured |
| INE002A08500 | — | Debentures & bonds | 7.17% | 08 Nov 2017 | 08 Nov 2022 | ₹0 | — | Matured |
| INE002A08476 | — | Debentures & bonds | — | 31 Aug 2017 | 31 Aug 2022 | ₹0 | — | Matured |
| INE110L07104 | — | Debentures & bonds | 7.97% | 25 Apr 2018 | 25 Apr 2022 | — | — | Matured |
| INE002A08575 | — | Debentures & bonds | 8.30% | 08 Mar 2019 | 08 Mar 2022 | — | — | Matured |
| INE110L07120 | — | Debentures & bonds | 8.70% | 18 Jul 2018 | 16 Jul 2021 | — | — | Matured |
| INE110L07112 | — | Debentures & bonds | 8.70% | 15 Jun 2018 | 15 Jun 2021 | — | — | Matured |
| INE110L08029 | — | Debentures & bonds | 8.95% | 04 Oct 2010 | 04 Oct 2020 | — | — | Matured |
| INE002A08617 | Apr Apr | Debentures & bonds | 7.40% | — | — | — | AAA | Withdrawn |
CARE ratings on record (checked 23 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Commercial Paper (Standalone) | ₹34,500 Cr | CARE A1+ |
| Non Convertible Debentures | — | Withdrawn |
| Non Convertible Debentures | ₹57,000 Cr | CARE AAA; Stable |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 94% |
| Information on file | 78% · missing: Capex / investment plans, Auditor details |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 81% chance the next rating action is stable or better
- Current rating AAA (investment grade)
- Interest coverage 5.7×
Rated limits by facility
Timeline
From the report
The proceeds from www.icra.in Sensitivity Label : Public Page |1 the IPO will be used largely for repayment of borrowings under RJIL and thus will result in deleveraging at the consolidated level for RIL.
From the report
Consolidated cash and cash equivalents stood at Rs. 2,46,791 crore as on June 30, 2026 (Rs. 2,49,704 crore as on March 31, 2026).
From the report
Consolidated cash and equivalents stood at ₹2,46,791 crore as on June 30, 2026 (₹2,49,704 crore as on March 31, 2026).
From the report
Consolidated cash and equivalents stood at ₹2,46,791 crore as on June 30, 2026 (₹2,49,704 crore a s on March 31, 2026).
From the report
Consolidated cash and equivalents stood at ₹2,49,704 crore as on March 31, 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Reliance Industries
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
| Air Products and Chemicals | Polymers & Petrochemicals · Cement, Building Materials & Polymers | — | — | United States |
| Part of Dow Chemical Company. | dow.com | 2019 | United States | |
| Part of International Flavors & Fragrances. | iff.com | — | United States | |
| Part of Albemarle Corporation. | albemarle.com | — | United States | |
| Polymers & Petrochemicals · Cement, Building Materials & Polymers | platformspecialtyproducts.com | 2014 | United States | |
| Polymers & Petrochemicals · Cement, Building Materials & Polymers | newmarket.com | — | United States | |
| Part of Eastman Chemical Company. | eastman.com | — | United States | |
| Polymers & Petrochemicals · Cement, Building Materials & Polymers | celanese.com | 2005 | United States | |
 Apollo Tyres |
Polymers & Petrochemicals · Cement, Building Materials & Polymers | apollotyres.com | 1972 | Ernakulam, India |
| Polymers & Petrochemicals · Cement, Building Materials & Polymers | wd40.com | 1973 | United States |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Group companies
Part of Reliance Industries Limited
Business activities and related parties
PP, PE and PVC resins
Filings
No filings on record yet.