Summary

Page 1
 Summary

Balaji Moorthy:
in crores

RELIANCE INDUSTRIES LTD

Total number of shares (cr) 1,353.13
Current price ₹1,260.75
Market Cap (cr) ₹1,705,959
507872

Page 2
 Graham Check list

Input Data
Fixed Assets
Current Assets
Fixed Liabilities
Current Liabilities

1. Size of the company

2. Strong financial stability

3. Earnings Stability

4. Dividend record

5. Earnings Growth

Financial Ratios
PE ratio should be at least less than 14
PB ratio should be less than 2
Debt to Equity ratio should be less than 1
RoE should be atleast 15%
RoA should be atleast 15%

Page 3
 Graham Check list

Input Data Result

15 Yes 73%
153 No 27%
0
15

Sales at least more than 200 crores.

YES
Latest Annual Sales 899,041
1. Current assets must be at least twice current liabilities

2. Long term or Fixed liabilities must be less than net current assets (Current assets – current
liabilities)
Criteria 1 YES
Criteria 2 YES

Should have positive earnings for past 10 years at least YES

Should have paid dividend for last 10 years uninterrupted YES

Average earnings should have increased by at least 100% in 10 years

Current Earnings 48.54
Earnings before 10 years 20.50 YES
Check Value 136.78%

Financial Ratios
ss than 14 29.88 No
2 11,163.19 No
e less than 1 0.58 Yes
37365.53% Yes
3.25% No

Page 4
 EPV method

Avg. Profit 5 years 57,102

Other income % 28%
EPV at 7% returns 799428
+ Invesments 225,672.00
+ Cash equivalents 97,225
Total 1122325
Borrowings 458,991
Other Liabilities 502,576
IV1 (- all liabilities) IV2 (- Debt alone) 0
119 490
MoS -961% -157%

Page 5
 EPV method

Net Profit 2020 2021 2022 2023 2024

39,354.00 49,128.00 60,705.00 66,702.00 69,621.00
Other income 2020 2021 2022 2023 2024
8,570.00 22,432.00 19,600.00 12,020.00 16,179.00

Page 6
 Buffett Method

Profit Growth CAGR 11.95%

Debt 458,991.00
Avg. Capex 5 years -
Avg. D&A 5 years 33,938

Net Profit Adjusted Value

17/07/05 77,943 18,677
18/07/05 87,259 25,427
19/07/05 97,689 32,037
20/07/05 109,366 38,529
21/07/05 122,438 44,926
Terminal value 1,714,135 1,192,504
Total 1,352,101
IV3 999
MoS -26%

Page 7
 Buffett Method

Net Profit 2019 2020 2021 2022 2023 2024

39,588.00 39,354.00 49,128.00 60,705.00 66,702.00 69,621.00
Capex 2019 2020 2021 2022 2023 2024
0 0 0 0 0 0
Depreciation 2019 2020 2021 2022 2023 2024
20,934.00 22,203.00 26,572.00 29,782.00 40,303.00 50,832.00

Page 8
 Analysis

Mar-15 Mar-16 Mar-17 Mar-18 Mar-19

Debt Equity ratio 0.77 0.84 0.82 0.82 0.79
Cash from Operating Activity 34,374 38,134 49,550 71,459 42,346
Growth YoY 11% 30% 44% -41%
5 yr CAGR
Sales 374,372 272,583 303,954 390,823 568,337
Growth YoY -27% 12% 29% 45%
5 yr CAGR
Net profit 23,566 29,745 29,901 36,075 39,588
Growth YoY 26% 1% 21% 10%
5 yr CAGR
Net Cash Flow -21,888 -1,262 -8,034 1,266 3,745
94% -537% 116% 196%
Dividend 2 2 2 3 3
NPM 6% 11% 10% 9% 7%
Total dividend/ share in 10 yrs 32
% out of CMP 3%

Page 9
 Analysis

Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

0.79 0.40 0.41 0.63 0.58
94,877 26,958 110,654 115,032 158,788
124% -72% 310% 4% 38%
23% -7% 17% 10% 30%
596,679 466,307 694,673 876,396 899,041
5% -22% 49% 26% 3%
10% 11% 18% 18% 10%
39,354 49,128 60,705 66,702 69,621
-1% 25% 24% 10% 4%
11% 11% 15% 13% 12%
19,839 -13,523 18,781 32,486 28,561
430% -168% 239% 73% -12%
3 3 4 5 5
7% 11% 9% 8% 8%

Page 10
RELIANCE INDUSTRIES LTD SCREENER.IN

Narration Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Trailing Best Case Worst Case
Sales 374,372.00 272,583.00 303,954.00 390,823.00 568,337.00 596,679.00 466,307.00 694,673.00 876,396.00 899,041.00 924,938.00 1,118,962.04 925,683.97
Expenses 336,923.00 230,802.00 257,647.00 326,508.00 484,087.00 507,413.00 385,517.00 586,092.00 734,078.00 736,543.00 763,943.00 924,195.15 779,845.12
Operating Profit 37,449.00 41,781.00 46,307.00 64,315.00 84,250.00 89,266.00 80,790.00 108,581.00 142,318.00 162,498.00 160,995.00 194,766.88 145,838.85
Other Income 8,528.00 12,212.00 9,222.00 9,869.00 8,406.00 8,570.00 22,432.00 19,600.00 12,020.00 16,179.00 17,415.00 - -
Depreciation 11,547.00 11,565.00 11,646.00 16,706.00 20,934.00 22,203.00 26,572.00 29,782.00 40,303.00 50,832.00 52,948.00 52,948.00 52,948.00
Interest 3,316.00 3,691.00 3,849.00 8,052.00 16,495.00 22,027.00 21,189.00 14,584.00 19,571.00 23,118.00 23,485.00 23,485.00 23,485.00
Profit before tax 31,114.00 38,737.00 40,034.00 49,426.00 55,227.00 53,606.00 55,461.00 83,815.00 94,464.00 104,727.00 101,977.00 118,333.88 69,405.85
Tax 7,474.00 8,876.00 10,201.00 13,346.00 15,390.00 13,726.00 1,722.00 15,970.00 20,376.00 25,707.00 24,644.00 24% 24%
Net profit 23,566.00 29,745.00 29,901.00 36,075.00 39,588.00 39,354.00 49,128.00 60,705.00 66,702.00 69,621.00 67,917.00 89,737.04 52,633.07
EPS 17.07 21.51 21.55 26.69 29.28 29.10 38.75 44.87 49.29 51.45 50.19 66.32 38.90
Price to earning 10.99 11.04 13.92 15.02 21.16 17.39 23.71 26.94 21.69 28.88 25.12 25.66 19.62
Price 187.66 237.46 300.09 401.08 619.43 506.06 918.78 1,208.51 1,069.21 1,485.85 1,260.75 1,701.42 763.31

RATIOS:
Dividend Payout 12.49% 10.41% 10.89% 9.85% 9.73% 10.47% 9.18% 8.92% 9.13% 9.72%
OPM 10.00% 15.33% 15.23% 16.46% 14.82% 14.96% 17.33% 15.63% 16.24% 18.07% 17.41%

TRENDS: 10 YEARS 7 YEARS 5 YEARS 3 YEARS RECENT BEST WORST

Sales Growth 10.22% 16.76% 9.61% 24.46% 2.88% 24.46% 2.88%
OPM 15.75% 16.30% 16.51% 16.74% 17.41% 17.41% 15.75%
Price to Earning 19.62 22.49 23.95 25.66 25.12 25.66 19.62
RELIANCE INDUSTRIES LTD SCREENER.IN

Narration Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24
Sales 218,855.00 229,409.00 216,737.00 212,834.00 207,559.00 231,886.00 225,086.00 236,533.00 231,784.00 231,535.00
Expenses 181,157.00 198,438.00 181,728.00 174,478.00 169,466.00 190,918.00 184,430.00 194,017.00 193,019.00 192,477.00
Operating Profit 37,698.00 30,971.00 35,009.00 38,356.00 38,093.00 40,968.00 40,656.00 42,516.00 38,765.00 39,058.00
Other Income 2,275.00 3,656.00 3,377.00 2,996.00 3,813.00 3,841.00 4,022.00 4,534.00 3,983.00 4,876.00
Depreciation 8,942.00 9,726.00 10,183.00 11,452.00 11,775.00 12,585.00 12,903.00 13,569.00 13,596.00 12,880.00
Interest 3,997.00 4,554.00 5,201.00 5,819.00 5,837.00 5,731.00 5,789.00 5,761.00 5,918.00 6,017.00
Profit before tax 27,034.00 20,347.00 23,002.00 24,081.00 24,294.00 26,493.00 25,986.00 27,720.00 23,234.00 25,037.00
Tax 7,591.00 4,835.00 5,196.00 2,754.00 6,112.00 6,673.00 6,345.00 6,577.00 5,786.00 5,936.00
Net profit 17,955.00 13,656.00 15,792.00 19,299.00 16,011.00 17,394.00 17,265.00 18,951.00 15,138.00 16,563.00

OPM 17% 14% 16% 18% 18% 18% 18% 18% 17% 17%
RELIANCE INDUSTRIES LTD SCREENER.IN

Narration Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Equity Share Capital 2,943.00 2,948.00 2,959.00 5,922.00 5,926.00 6,339.00 6,445.00 6,765.00 6,766.00 6,766.00
Reserves 215,556.00 228,608.00 260,750.00 287,584.00 381,186.00 442,827.00 693,727.00 772,720.00 709,106.00 786,715.00
Borrowings 168,251.00 194,714.00 217,475.00 239,843.00 307,714.00 355,133.00 278,962.00 319,158.00 451,664.00 458,991.00
Other Liabilities 117,736.00 172,727.00 225,618.00 277,924.00 302,804.00 358,716.00 340,931.00 399,979.00 438,346.00 502,576.00
Total 504,486.00 598,997.00 706,802.00 811,273.00 997,630.00 1,163,015.00 1,320,065.00 1,498,622.00 1,605,882.00 1,755,048.00

Net Block 156,458.00 184,910.00 198,526.00 403,885.00 398,374.00 532,658.00 541,258.00 627,798.00 724,805.00 779,985.00
Capital Work in Progress 166,462.00 228,697.00 324,837.00 187,022.00 179,463.00 109,106.00 125,953.00 172,506.00 293,752.00 338,855.00
Investments 76,451.00 84,015.00 82,899.00 82,862.00 235,635.00 276,767.00 364,828.00 394,264.00 235,560.00 225,672.00
Other Assets 105,115.00 101,375.00 100,540.00 137,504.00 184,158.00 244,484.00 288,026.00 304,054.00 351,765.00 410,536.00
Total 504,486.00 598,997.00 706,802.00 811,273.00 997,630.00 1,163,015.00 1,320,065.00 1,498,622.00 1,605,882.00 1,755,048.00

Working Capital -12,621.00 -71,352.00 -125,078.00 -140,420.00 -118,646.00 -114,232.00 -52,905.00 -95,925.00 -86,581.00 -92,040.00
Debtors 5,315.00 4,465.00 8,177.00 17,555.00 30,089.00 19,656.00 19,014.00 23,640.00 28,448.00 31,628.00
Inventory 53,248.00 46,486.00 48,951.00 60,837.00 67,561.00 73,903.00 81,672.00 107,778.00 140,008.00 152,770.00

Debtor Days 5.18 5.98 9.82 16.40 19.32 12.02 14.88 12.42 11.85 12.84
Inventory Turnover 7.03 5.86 6.21 6.42 8.41 8.07 5.71 6.45 6.26 5.88

Return on Equity 11% 13% 11% 12% 10% 9% 7% 8% 9% 9%

Return on Capital Emp 10% 10% 11% 12% 10% 9% 9% 10% 11%
RELIANCE INDUSTRIES LTD SCREENER.IN

Narration Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Cash from Operating Activity 34,374.00 38,134.00 49,550.00 71,459.00 42,346.00 94,877.00 26,958.00 110,654.00 115,032.00 158,788.00
Cash from Investing Activity -64,706.00 -36,186.00 -66,201.00 -68,192.00 -94,507.00 -72,497.00 -142,385.00 -109,162.00 -93,001.00 -113,581.00
Cash from Financing Activity 8,444.00 -3,210.00 8,617.00 -2,001.00 55,906.00 -2,541.00 101,904.00 17,289.00 10,455.00 -16,646.00
Net Cash Flow -21,888.00 -1,262.00 -8,034.00 1,266.00 3,745.00 19,839.00 -13,523.00 18,781.00 32,486.00 28,561.00
How to use it?
You can customize this workbook as you want.
You can add custom formating, add conditional formating, add your own formulas… do ANYTHING.
Please don't edit the "Data Sheet" only.

After customization, you can upload this back on Screener.

Upload on: https://www.screener.in/excel/

Download your customized workbooks now onwards.

Now whenever you will "Export to excel" from Screener, it will export your customized file.

TESTING:
This is a testing feature currently.
You can report any formula errors on the worksheet at: screener.feedback@dalal-street.in
 s… do ANYTHING.

@dalal-street.in
COMPANY NAME RELIANCE INDUSTRIES LTD
LATEST VERSION 2.10 PLEAS
CURRENT VERSION 2.10

META
Number of shares 1,353.13
Face Value 10.00
Current Price 1,260.75
Market Capitalization 1,705,958.87

PROFIT & LOSS

Report Date Mar-15 Mar-16 Mar-17 Mar-18
Sales 374,372.00 272,583.00 303,954.00 390,823.00
Raw Material Cost 292,563.00 186,254.00 217,518.00 276,076.00
Change in Inventory -1483 -2,560.00 5,218.00 8,610.00
Power and Fuel 13261 10741 11251 14569
Other Mfr. Exp 8914 8272 9,909.00 9,691.00
Employee Cost 6262 7407 8,388.00 9,523.00
Selling and admin 12548 18808 18,520.00 29,111.00
Other Expenses 1,892.00 -3,240.00 -2,721.00 -3,852.00
Other Income 8528 12212 9,222.00 9,869.00
Depreciation 11547 11565 11,646.00 16,706.00
Interest 3316 3691 3,849.00 8,052.00
Profit before tax 31,114.00 38,737.00 40,034.00 49,426.00
Tax 7,474.00 8,876.00 10,201.00 13,346.00
Net profit 23,566.00 29,745.00 29,901.00 36,075.00
Dividend Amount 2943 3095.4 3254.9 3553.2

Quarters
Report Date Jun-22 Sep-22 Dec-22 Mar-23
Sales 218855 229,409.00 216,737.00 212,834.00
Expenses 181157 198,438.00 181,728.00 174,478.00
Other Income 2275 3,656.00 3,377.00 2,996.00
Depreciation 8942 9,726.00 10,183.00 11,452.00
Interest 3997 4,554.00 5,201.00 5,819.00
Profit before tax 27034 20,347.00 23,002.00 24,081.00
Tax 7591 4,835.00 5,196.00 2,754.00
Net profit 17955 13,656.00 15,792.00 19,299.00
Operating Profit 37698 30,971.00 35,009.00 38,356.00

BALANCE SHEET
Report Date Mar-15 Mar-16 Mar-17 Mar-18
Equity Share Capital 2,943.00 2,948.00 2,959.00 5,922.00
Reserves 215,556.00 228,608.00 260,750.00 287,584.00
Borrowings 168,251.00 194,714.00 217,475.00 239,843.00
Other Liabilities 117,736.00 172,727.00 225,618.00 277,924.00
Total 504,486.00 598,997.00 706,802.00 811,273.00
Net Block 156,458.00 184,910.00 198,526.00 403,885.00
Capital Work in Progress 166462 228697 324837 187022
Investments 76451 84015 82899 82862
Other Assets 105,115.00 101,375.00 100,540.00 137,504.00
Total 504,486.00 598,997.00 706,802.00 811,273.00
Receivables 5,315.00 4,465.00 8,177.00 17,555.00
Inventory 53,248.00 46,486.00 48,951.00 60,837.00
Cash & Bank 12,545.00 11,028.00 3,023.00 4,255.00
No. of Equity Shares ### ### ### ###
New Bonus Shares ###
Face value 10.00 10.00 10.00 10.00

CASH FLOW:
Report Date Mar-15 Mar-16 Mar-17 Mar-18
Cash from Operating Activity 34374 38134 49550 71459
Cash from Investing Activity -64706 -36186 -66201 -68192
Cash from Financing Activity 8444 -3210 8617 -2001
Net Cash Flow -21888 -1262 -8034 1266

PRICE: 187.66 237.46 300.09 401.08

DERIVED:
Adjusted Equity Shares in Cr 1,380.56 1,382.58 1,387.22 1,351.39
 PLEASE DO NOT MAKE ANY CHANGES TO THIS SHEET

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

568,337.00 596,679.00 466,307.00 694,673.00 876,396.00 899,041.00
399,167.00 410,288.00 301,765.00 494,449.00 618,746.00 590,226.00
4,680.00 5,048.00 9,064.00 21,457.00 30,263.00 4,883.00
17029 15098 13214 17902 25,062.00 22,137.00
12,198.00 11,434.00 7,687.00 12,174.00 19,658.00 18,276.00
12,488.00 14,075.00 14,817.00 18,758.00 24,872.00 25,679.00
50,221.00 62,622.00 56,154.00 63,513.00 67,369.00 77,292.00
-2,336.00 -1,056.00 944.00 753.00 8,634.00 7,816.00
8,406.00 8,570.00 22,432.00 19,600.00 12,020.00 16,179.00
20,934.00 22,203.00 26,572.00 29,782.00 40,303.00 50,832.00
16,495.00 22,027.00 21,189.00 14,584.00 19,571.00 23,118.00
55,227.00 53,606.00 55,461.00 83,815.00 94,464.00 104,727.00
15,390.00 13,726.00 1,722.00 15,970.00 20,376.00 25,707.00
39,588.00 39,354.00 49,128.00 60,705.00 66,702.00 69,621.00
3851.9 4120.35 4511.5 5412 6089.4 6,766.00

Jun-23 Sep-23 Dec-23 Mar-24 Jun-24 Sep-24

207,559.00 231,886.00 225,086.00 236,533.00 231,784.00 231,535.00
169,466.00 190,918.00 184,430.00 194,017.00 193,019.00 192,477.00
3,813.00 3,841.00 4,022.00 4,534.00 3,983.00 4,876.00
11,775.00 12,585.00 12,903.00 13,569.00 13,596.00 12,880.00
5,837.00 5,731.00 5,789.00 5,761.00 5,918.00 6,017.00
24,294.00 26,493.00 25,986.00 27,720.00 23,234.00 25,037.00
6,112.00 6,673.00 6,345.00 6,577.00 5,786.00 5,936.00
 16,011.00 17,394.00 17,265.00 18,951.00 15,138.00 16,563.00
38,093.00 40,968.00 40,656.00 42,516.00 38,765.00 39,058.00

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

5,926.00 6,339.00 6,445.00 6,765.00 6,766.00 6,766.00
381,186.00 442,827.00 693,727.00 772,720.00 709,106.00 786,715.00
307,714.00 355,133.00 278,962.00 319,158.00 451,664.00 458,991.00
302,804.00 358,716.00 340,931.00 399,979.00 438,346.00 502,576.00
997,630.00 1,163,015.00 1,320,065.00 1,498,622.00 1,605,882.00 1,755,048.00
398,374.00 532,658.00 541,258.00 627,798.00 724,805.00 779,985.00
179463 109106 125953 172506 293752 338855
235635 276767 364,828.00 394,264.00 235,560.00 225,672.00
184,158.00 244,484.00 288,026.00 304,054.00 351,765.00 410,536.00
997,630.00 1,163,015.00 1,320,065.00 1,498,622.00 1,605,882.00 1,755,048.00
30,089.00 19,656.00 19,014.00 23,640.00 28,448.00 31,628.00
67,561.00 73,903.00 81,672.00 107,778.00 140,008.00 152,770.00
11,081.00 30,920.00 17,397.00 36,178.00 68,664.00 97,225.00
### ### ### ### ### ###
###
10.00 10.00 10.00 10.00 10.00 10.00

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24

42,346.00 94,877.00 26,958.00 110,654.00 115,032.00 158,788.00
-94,507.00 -72,497.00 -142,385.00 -109,162.00 -93,001.00 -113,581.00
55,906.00 -2,541.00 101,904.00 17,289.00 10,455.00 -16,646.00
3,745.00 19,839.00 -13,523.00 18,781.00 32,486.00 28,561.00

619.43 506.06 918.78 1208.51 1069.21 1,485.85

1,352.26 1,352.37 1,267.89 1,352.98 1,353.12 1,353.14