Reliance Industries Limited vs Indian Oil Corporation Limited
An objective side-by-side of RELIANCE and IOC, both in Refineries: valuation, profitability, growth, balance sheet, ownership and share-price performance. Where one number is clearly better on its own terms (lower P/E, higher ROE), it is shaded. That is a description, not a recommendation.
Prices as of 2026-09-21 close
Latest results: RELIANCE Jun 2026 · IOC Jun 2026
At a glance
- Reliance Industries Limited is the larger company by market value, about 8.8 times the size of Indian Oil Corporation Limited.
- On trailing earnings, Indian Oil Corporation Limited trades at the lower P/E (5.4 against 19.1).
- Indian Oil Corporation Limited earns the higher return on equity (16.3% against 9.8%).
- Over three years Indian Oil Corporation Limited has grown profits faster (63% a year against 5%).
- Over the past year the share prices returned -10.9% (RELIANCE) and -5.2% (IOC).
| Metric | Reliance Industries RELIANCE |
Indian Oil IOC |
|---|---|---|
| Size and price | ||
| Market cap | ₹1,688,041 Cr | ₹192,797 Cr |
| Share price | ₹1,247 | ₹136.53 |
| Valuation | ||
| P/E | 19.13 | 5.40 |
| P/B | 1.87 | 0.88 |
| EV/EBITDA | 11.39 | 4.78 |
| PEG | 3.83 | 0.09 |
| Dividend yield | 0.5% | 5.0% |
| Profitability | ||
| ROE | 9.8% | 16.3% |
| ROCE | 10.0% | 19.0% |
| Operating margin | 16.2% | 7.4% |
| Sales (TTM) | ₹1,134,303 Cr | ₹917,401 Cr |
| Net profit (TTM) | ₹88,221 Cr | ₹35,728 Cr |
| Growth | ||
| Latest quarter sales YoY | +25.4% | +20.1% |
| Latest quarter profit YoY | -24.6% | -116.8% |
| Sales CAGR 3Y | +6.0% | -2.0% |
| Profit CAGR 3Y | +5.0% | +63.0% |
| Sales CAGR 5Y | +18.0% | +17.0% |
| Profit CAGR 5Y | +12.0% | +14.0% |
| Financial strength | ||
| Debt/Equity | 0.45 | 0.60 |
| Interest cover | 4.48 | 7.06 |
| Ownership | ||
| Promoter holding | 50.0% | 51.5% |
| Promoter change (4 qtrs) | -0.07 pp | +0.00 pp |
| Price performance | ||
| Return 1M | -5.01% | +0.46% |
| Return 3M | -5.96% | -5.44% |
| Return 1Y | -10.86% | -5.18% |
| Return YTD | -20.57% | -17.98% |
| Technical condition | ||
| Technical score | 17 | 48 |
| RS rating (1-99) | 32.00 | 38.00 |
| % vs 200-DMA | -9.48% | -8.89% |
| RSI (14) | 40.21 | 49.09 |
| % from 52-week high | -22.61% | -27.75% |
