Reliance Industries vs Bharti Airtel: share price, P/E, ROE and financials compared
Reliance Industries
Bharti Airtel
Reliance Industries and Bharti Airtel at a glance
Reliance Industries is the larger by market cap, at ₹17.9L Cr against ₹13.2L Cr for Bharti Airtel (1.4 times as large). On valuation, Reliance Industries has the lower P/E (21.8× against 41.5×) and the lower price-to-book (1.89× against 8.32×). On returns and margins, Bharti Airtel has the higher ROCE (16.7% against 9.0%), the higher ROE (20.2% against 8.8%) and the higher operating margin (56.8% against 11.2%). Over three years, Bharti Airtel has faster 3-year sales growth (+14.9% against +6.4% a year) and faster 3-year profit growth (+47.3% against +6.6% a year). Reliance Industries carries less debt for its equity, with a debt-to-equity of 0.44× against 1.00×.
Key metrics, side by side
| Metric | Reliance IndustriesRELIANCE | Bharti AirtelBHARTIARTL |
|---|---|---|
| Price (₹) | 1,320.00 | 2,107.20 |
| Market cap (₹ Cr) | 17,86,286 | 13,15,371 |
| P/E | 21.8× (the lower figure, shaded) | 41.5× |
| P/B | 1.89× (the lower figure, shaded) | 8.32× |
| Dividend yield, trailing | 0.45% | 1.14% (the higher figure, shaded) |
| ROE | 8.8% | 20.2% (the higher figure, shaded) |
| ROCE | 9.0% | 16.7% (the higher figure, shaded) |
| Operating margin (OPM) | 11.2% | 56.8% (the higher figure, shaded) |
| Net margin (NPM) | 6.8% | 13.1% (the higher figure, shaded) |
| Sales CAGR 3Y | +6.4% | +14.9% (the higher figure, shaded) |
| Profit CAGR 3Y | +6.6% | +47.3% (the higher figure, shaded) |
| Debt to equity | 0.44× (the lower figure, shaded) | 1.00× |
| Interest cover | 6.1× (the higher figure, shaded) | 3.5× |
| Net profit TTM (₹ Cr) | 82,110 | – |
| 1Y return | −10.8% | −2.7% (the higher figure, shaded) |
| Promoter holding | 50.44% | – |
Reliance Industries vs Bharti Airtel: common questions
Which is bigger, Reliance Industries or Bharti Airtel?
By market cap, Reliance Industries is bigger at ₹17.9L Cr, against ₹13.2L Cr for Bharti Airtel (prices as of 6 Nov 2026).
Which has a lower P/E ratio, Reliance Industries or Bharti Airtel?
Reliance Industries trades at a P/E of 21.8× and Bharti Airtel at 41.5×. Reliance Industries has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Reliance Industries or Bharti Airtel?
Reliance Industries reports a return on equity of 8.8% and Bharti Airtel 20.2%. Bharti Airtel has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Reliance Industries or Bharti Airtel?
Over the last three years: Sales grew +6.4% a year at Reliance Industries and +14.9% at Bharti Airtel, so Bharti Airtel grew sales faster; profit grew +6.6% a year at Reliance Industries and +47.3% at Bharti Airtel, so Bharti Airtel grew profit faster. Past growth doesn’t predict future growth.