Reliance Industries vs Indian Oil: share price, P/E, ROE and financials compared
Reliance Industries
Indian Oil Corporation
Reliance Industries and Indian Oil at a glance
Reliance Industries and Indian Oil are both listed in Oil Gas & Consumable Fuels. Reliance Industries is the larger by market cap, at ₹17.9L Cr against ₹2.1L Cr for Indian Oil (8.6 times as large). On valuation, Indian Oil has the lower P/E (4.3× against 21.8×) and the lower price-to-book (0.86× against 1.89×). On returns and margins, Reliance Industries has the higher operating margin (11.2% against 7.3%), while Indian Oil has the higher ROCE (20.5% against 9.0%) and the higher ROE (22.6% against 8.8%). Over three years, Reliance Industries has faster 3-year sales growth (+6.4% against −2.2% a year), while Indian Oil has faster 3-year profit growth (+62.6% against +6.6% a year). Reliance Industries carries less debt for its equity, with a debt-to-equity of 0.44× against 0.58×.
Key metrics, side by side
| Metric | Reliance IndustriesRELIANCE | Indian OilIOC |
|---|---|---|
| Price (₹) | 1,320.00 | 146.25 |
| Market cap (₹ Cr) | 17,86,286 | 2,06,523 |
| P/E | 21.8× | 4.3× (the lower figure, shaded) |
| P/B | 1.89× | 0.86× (the lower figure, shaded) |
| Dividend yield, trailing | 0.45% | 5.64% (the higher figure, shaded) |
| ROE | 8.8% | 22.6% (the higher figure, shaded) |
| ROCE | 9.0% | 20.5% (the higher figure, shaded) |
| Operating margin (OPM) | 11.2% (the higher figure, shaded) | 7.3% |
| Net margin (NPM) | 6.8% (the higher figure, shaded) | 5.1% |
| Sales CAGR 3Y | +6.4% (the higher figure, shaded) | −2.2% |
| Profit CAGR 3Y | +6.6% | +62.6% (the higher figure, shaded) |
| Debt to equity | 0.44× (the lower figure, shaded) | 0.58× |
| Interest cover | 6.1× | 8.4× (the higher figure, shaded) |
| Net profit TTM (₹ Cr) | 82,110 | 47,242 |
| 1Y return | −10.8% (the higher figure, shaded) | −14.6% |
| Promoter holding | 50.44% | 51.50% |
Reliance Industries vs Indian Oil: common questions
Which is bigger, Reliance Industries or Indian Oil?
By market cap, Reliance Industries is bigger at ₹17.9L Cr, against ₹2.1L Cr for Indian Oil (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹82,110 Cr for Reliance Industries and ₹47,242 Cr for Indian Oil.
Which has a lower P/E ratio, Reliance Industries or Indian Oil?
Reliance Industries trades at a P/E of 21.8× and Indian Oil at 4.3×. Indian Oil 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 Indian Oil?
Reliance Industries reports a return on equity of 8.8% and Indian Oil 22.6%. Indian Oil has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Reliance Industries or Indian Oil?
Over the last three years: Sales grew +6.4% a year at Reliance Industries and −2.2% at Indian Oil, so Reliance Industries grew sales faster; profit grew +6.6% a year at Reliance Industries and +62.6% at Indian Oil, so Indian Oil grew profit faster. Past growth doesn’t predict future growth.