Reliance Industries vs Oil & Natural Gas: share price, P/E, ROE and financials compared
Reliance Industries
Oil & Natural Gas Corporation
Reliance Industries and Oil & Natural Gas at a glance
Reliance Industries and Oil & Natural Gas are both listed in Oil Gas & Consumable Fuels. Reliance Industries is the larger by market cap, at ₹17.9L Cr against ₹2.9L Cr for Oil & Natural Gas (6.1 times as large). On valuation, Oil & Natural Gas has the lower P/E (5.9× against 21.8×) and the lower price-to-book (0.78× against 1.89×). On returns and margins, Oil & Natural Gas has the higher ROCE (12.6% against 9.0%), the higher ROE (11.6% against 8.8%) and the higher operating margin (17.7% against 11.2%). Over three years, Reliance Industries has faster 3-year sales growth (+6.4% against −1.3% a year) and faster 3-year profit growth (+6.6% against +4.1% a year). Debt-to-equity is similar, 0.44× for Reliance Industries and 0.43× for Oil & Natural Gas.
Key metrics, side by side
| Metric | Reliance IndustriesRELIANCE | Oil & Natural GasONGC |
|---|---|---|
| Price (₹) | 1,320.00 | 231.76 |
| Market cap (₹ Cr) | 17,86,286 | 2,91,561 |
| P/E | 21.8× | 5.9× (the lower figure, shaded) |
| P/B | 1.89× | 0.78× (the lower figure, shaded) |
| Dividend yield, trailing | 0.45% | 5.72% (the higher figure, shaded) |
| ROE | 8.8% | 11.6% (the higher figure, shaded) |
| ROCE | 9.0% | 12.6% (the higher figure, shaded) |
| Operating margin (OPM) | 11.2% | 17.7% (the higher figure, shaded) |
| Net margin (NPM) | 6.8% (the higher figure, shaded) | 6.2% |
| Sales CAGR 3Y | +6.4% (the higher figure, shaded) | −1.3% |
| Profit CAGR 3Y | +6.6% (the higher figure, shaded) | +4.1% |
| Debt to equity | 0.44× | 0.43× |
| Interest cover | 6.1× | 7.3× (the higher figure, shaded) |
| Net profit TTM (₹ Cr) | 82,110 | 43,519 |
| 1Y return | −10.8% | −8.9% (the higher figure, shaded) |
| Promoter holding | – | – |
Reliance Industries vs Oil & Natural Gas: common questions
Which is bigger, Reliance Industries or Oil & Natural Gas?
By market cap, Reliance Industries is bigger at ₹17.9L Cr, against ₹2.9L Cr for Oil & Natural Gas (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹82,110 Cr for Reliance Industries and ₹43,519 Cr for Oil & Natural Gas.
Which has a lower P/E ratio, Reliance Industries or Oil & Natural Gas?
Reliance Industries trades at a P/E of 21.8× and Oil & Natural Gas at 5.9×. Oil & Natural Gas 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 Oil & Natural Gas?
Reliance Industries reports a return on equity of 8.8% and Oil & Natural Gas 11.6%. Oil & Natural Gas has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Reliance Industries or Oil & Natural Gas?
Over the last three years: Sales grew +6.4% a year at Reliance Industries and −1.3% at Oil & Natural Gas, so Reliance Industries grew sales faster; profit grew +6.6% a year at Reliance Industries and +4.1% at Oil & Natural Gas, so Reliance Industries grew profit faster. Past growth doesn’t predict future growth.