Reliance Infrastructure Limited (RELINFRA) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Reliance Infrastructure Limited ₹44.03, price ₹46.46, upside -5.2%, quality 33 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Reliance Infrastructure Limited
RELINFRA · BSELow PriorityFair Value upside is limited and quality is weak.
What runs behind every stock
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range ₹43.40 – ₹417.50 · fair‑value band ₹33.19 – ₹56.60 · the ₹46.46 price screens above the ₹44.03 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Reliance Infrastructure Limited, an infrastructure company, generates, transmits, and distributes electrical power to residential, industrial, commercial, and other consumers in India. It operates through three segments: Power; Engineering and Construction (E&C); and Infrastructure.
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Reliance Infrastructure Limited, an infrastructure company, generates, transmits, and distributes electrical power to residential, industrial, commercial, and other consumers in India. It operates through three segments: Power; Engineering and Construction (E&C); and Infrastructure. The Power segment operates a 220 MW combined cycle power plant at Samalkot; 48 MW combined cycle power plant at Mormugao; and 9.39 MW wind farm at Chitradurga. This segment also distribute power in Delhi; operates a 165 MW combined cycle power plant at Kochi; and trades in power. The E&C segment offers value added services in construction, erection, commissioning, and contracting. The Infrastructure segment engages in the development, operation, and maintenance of toll roads, metro rail transit system, and airports. It also involved in the exploration and production of 4 coal bed methane blocks covering an area of 3,266 square kilometers in Madhya Pradesh, Andhra Pradesh, and Rajasthan; exploration and production of CBM gas block; and rehabilitation and upgradation of NH-66. In addition, the company manufactures cement and defense systems; offers urban transport systems; and develops real estate property. Reliance Infrastructure Limited was incorporated in 1929 and is based in Mumbai, India.
Stock analysis
Reliance Infrastructure Limited (RELINFRA) currently trades at ₹46.46, while our model-based Fair Value estimate is ₹44.03, so the stock looks roughly fairly valued today (gap 5.5%).
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Valuation
Bull case: the Asset-Based group reads highest at a median of ₹293.36 per share, and 22 of the 22 models we run sit above the ₹46.46 price.
Bear case: the Earnings-Based group reads lowest at ₹271.88, and 0 of the 22 models stay below the price. Evidence for this calculation is low.
Scenario range: ₹33.19 (bear) to ₹56.60 (bull), the price of ₹46.46 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 33/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Reliance Infrastructure Limited reported revenue of ₹201B in FY2026 versus ₹186B in FY2022, a compound +2.0%/yr. Reported net income was ₹29.0B in FY2026.
Key figures
Market cap ₹25.7B (≈ $267M) · P/E ratio 0.3 · P/S ratio 0.04 · EPS (TTM) ₹156.20 · Dividend yield 0.8% · Net margin 14.4% · Return on equity 35.3% · Return on assets (EBIT) 3.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 81% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −32% fair-value upside, at −5%, RELINFRA screens cheaper than that median.
Fair Value models
All 22 models by family
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Set up alert →Quality Score breakdown
Of which business quality 30 · Market factors (momentum, volatility) 15
Revenue & earnings trend
Growth Forecast
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Compare Reliance Infrastructure Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Independent Power Producers · 72 stocks
Valuation Multiplesvs Utilities - Independent Power Producers median · lower = cheaper
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: Utilities
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Constellation Energy Corporation CEG | $254.02 | $92.53 | −64% |
| Vistra Corp VST | $140.83 | $20.60 | −85% |
| Adani Power Limited ADANIPOWER | ₹202.75 | ₹75.57 | −63% |
| CGN Power Co 003816 | ¥4.19 | ¥2.18 | −48% |
| Gulf Development Public Company GULF | 59.25 THB | 65.18 THB | +10% |
| NRG Energy, Inc NRG | $96.93 | $74.44 | −23% |
| Adani Energy Solutions Limited ADANIENSOL | ₹1,339 | ₹335.95 | −75% |
| Huaneng Power International, Inc 600011 | ¥6.74 | ¥9.10 | +35% |
| Datang International Power Generation Co 601991 | ¥5.36 | ¥3.65 | −32% |
| China Resources Power Holdings 0836 | HK$18.99 | HK$36.45 | +92% |
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Frequently asked questions
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Key figures of Reliance Infrastructure Limited
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