Reliance Infrastructure Ltd
Reliance Infrastructure Ltd (RELINFRA)

Reliance Infrastructure Ltd (RELINFRA)

₹1041.86%

Key Stats

₹103.1
Day's Price Range
₹106.7
₹51
52-Week Price Range
₹150
1 Month Return-21.65 %
3 Month Return-14.99 %
1 Year Return97.86 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 26
-2.94
EPS
Rank 34
₹-35.69
BVPS
Rank 2
₹349.94
Dividend Yield
Rank 13
ROE
Rank 50
-4.62%
Price To Book Ratio
0.29
Debt To Asset
Rank 15
0.85

Company Information

Reliance Infrastructure Ltd RInfra is one of the largest infrastructure companies developing projects through various Special Purpose Vehicles SPVs in several high growth sectors such as Power Roads and Metro Rail in the Infrastructure space and the Defence sector. Reliance Infrastructure Ltd is also a leading utility company having presence across the value chain of power businesses i.e. Generation Transmission Distribution and Power Trading. RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build own operate and transfer BOOT basis eleven road projects with total length of about 1000 kms on build operate and transfer BOT basis. RInfra also provides Engineering Procurement and Construction EPC services for developing power and road projects. The company has entered into the defence sector. The Maharashtra Government has allotted land at Mihan near Nagpur for the development of Indias first smart city for defence sector known as Dhirubhai Ambani Aerospace Park DAAP. RInfra associate Reliance Naval Engineering Ltd houses Indias largest dry dock facility to build warships and other naval vessels. The Company has 56 subsidiaries and step down subsidiaries as on March 31 2019.Reliance Infrastructure Limited was incorporated in the year October 01 1929 with the name Bombay Suburban Electric Supply Ltd BSES and then changed their name to BSES Ltd. The company achieved steep growth from 199596 after the completion of 2 x 250 MW Generation Project at Dahanu. During the year 199697 the installed capacity of the system was augmented to 1382 MVA by commissioning additional 224 MVA capacities. They commissioned the Aarey Receiving Station during the year.During the year 199798 the installed capacity of the system was augmented to 1502 MVA by commissioning additional 120 MVA capacity in 33 kV / 11 kV distribution network. Gujarat Power Corporation Ltd. GPCL after evaluating the bids received for setting up of small to medium liquid distillate fuel naphtha based projects in Gujarat awarded a letter of intent to the Company for setting up a short gestation 57 MW power project at Dahej in Bharuch District.During the year 199899 the company commissioned 7 nos. 33/11 KV 20 MVA and 2 nos. 33/11 KV 15 MVA transformers to evacuate power from the Dahanu Power Station. The company with a view to promoting the nonconventional energy sources took up a 7.59 MW Wind Farm project comprising 33 Wind Mills in the State of Karnataka at an estimated cost of Rs 41 crore.In March 2000 the company operated BSES Telecom as an Internet service provider ISP in Mumbai and had a fiber optic network to support their last mile services and also exploring alliances for providing utility solutions. Dahanu Power Station achieved a plant load factor PLF of 82.68 during 200001. In 200102 the BSES Kerala Power Ltd commissioned the power station in the Combined Cycle mode but due to various reasons the BKPL suspended their operations from October 2001. OFGW of 220 KW transmission line between Ghodbunder Versova and Dahanu was successfully completed. During the year 200203 the company restructured their investments in their various joint ventures and special purpose vehicles. Consequently BSES Andhra Power Ltd BSES Infrastructure Finance Ltd BSES Kerala Power Ltd BSES Rajdhani Power Ltd BSES Telecom Ltd BSES Yamuna Power Ltd North Eastern Electricity Supply Company of Orissa Ltd Southern Electricity Supply Company of Orissa Ltd Tamil Nadu Industries Captive Power Company Ltd and Western Electricity Supply Company of Orissa Ltd ceased to be subsidiaries of the company. In February 2003 the Reliance Group acquired the management and control of the company following the open offer to the shareholders of the company and became the promoters of the company. In April 2003 BSES Andhra Power Ltd BAPL and Reliance Salgaocar Power Company Ltd RSPCL which became wholly owned subsidiary companies during the year were amalgamated with the company effective from April 1 2003.During the year 200304 the company in order to focus on its core activities to enhance overall shareholder value decided to exit from noncore activities that were undertaken by the company. They disinvested their entire shareholdings in STBSES Coal Washeries Ltd and Maithon Power Ltd during the year. The name of the company was changed to Reliance Energy Ltd with effect from February 24 2004.During the year 200506 the company successfully bagged the 280 MW Urthing Sobla Hydro Power project on the Dhauliganga River in Pithorgarh district of Uttaranchal State. Also the company entered into an Agreement with the Government of Arunachal Pradesh for development of two hydro projects at Tato 700 MW and Middle Siang 1000 MW. These projects will be developed by Reliance Energy on BOOT basis in association with the Government of Arunachal Pradesh. During the year 200607 Reliance Energy Ventures Limited REVL became a part of the Reliance Anil Dhirubhai Ambani Group consequent upon the scheme of arrangement between Reliance Industries Ltd and REVL becoming effective. Pursuant to a scheme of amalgamation REVL merged with the company with effect from July 17 2006.During the year 200708 the company entered into various contracts in the areas of energy and infrastructure business. Western Region Transmission Maharashtra Pvt Ltd and Western Region Transmission Gujarat Pvt Ltd became wholly owned subsidiaries of Reliance Power Transmission Ltd a subsidiary of the company with effect fromNovember 14 2007 and thus these two companies became subsidiaries of the company.In April 2008 the name of the company was changed from Reliance Energy Ltd to Reliance Infrastructure Ltd with effect from April 28 2008. The new name appropriately reflects various infrastructure businesses being carried on by the company and redefines the companys vision and focus to emerge as a premier infrastructure company.During the year 200809 as per scheme of arrangement Reliance Projects Finance Pvt Ltd the wholly owned subsidiary of the company was amalgamated with the company with effect from the appointed date April 1 2007.During the year 200910 Reliance Cementation Pvt Ltd Reliance Cement and Infra Pvt Ltd Reliance Cement Corporation Pvt Ltd Reliance Cement Works Pvt Ltd Reliance Airport Developers Pvt Ltd Latur Airport Pvt Ltd Baramati Airport Pvt Ltd Nanded Airport Pvt Ltd Yavatmal Airport Pvt Ltd Osmanabad Airport Pvt Ltd PS Toll Road Pvt Ltd and KM Toll Road Pvt Ltd became the subsidiaries of the company.During the year 201011 Utility Infrastructure and Works Pvt Ltd Reliance Cement Pvt Ltd and Reliance Infrastructure Engineers Pvt Ltd became subsidiaries of the company. As per the scheme of Amalgamation Reliance Infraprojects Ltd a wholly owned subsidiary of the company was amalgamated with the company with effect from May 21 2011. The appointed date of the scheme was April 1 2010.The Board of Directors of Reliance Infrastructure at its meeting held on 14 February 2011 approved a buyback of its outstanding equity shares for an aggregate amount of up to Rs 1000 crore US 222 million at a price not exceeding Rs 725 per equity share. The buyback will be made from the open market through the Stock Exchanges. On 17 March 2011 Reliance Infrastructure Limited RInfra announced securing EPC contract of 2400 MW Gas based Combined Cycle Power Project CCPP at Samalkot. The contact value for the project is Rs 7200 crore and shall execute the contract on lumpsum turnkey EPC Contract basis.On 12 August 2011 Reliance Infrastructure Limited announced that it has been granted licenses by the Maharshtra Electricity Regulatory Commission MERC for Transmission and for Distribution of electricity in and around suburbs of Mumbai. The Licenses shall be valid for a period of 25 years effective from 16 August 2011 up to 15 August 2036. In the new Distribution License MERC has also expanded the existing area of distribution to include Chene and Varsova areas falling under the Mira Bhayandar Municipal Corporation. Rinfra has been distributing electricity to consumers in and around suburbs of Mumbai since 1929. MERC the regulator issued the distribution license to Rinfra under the Electricity Act 2003. The Board of Directors of Reliance Infrastructure at its meeting held on 17 January 2012 approved a Scheme of Arrangement for merger of Reliance Energy Ltd Reliance Energy Generation Ltd Reliance Goa and Samalkot Power Ltd Reliance Infraventures Ltd and Reliance Property Developers Ltd as also demerger of the container business undertaking of Reliance Infrastructure Engineers Pvt Ltd with the company the Scheme. As per the Scheme no shares are proposed to be issued as the Transferor Companies and the Demerged Company are wholly owned subsidiaries of the company.On 17 January 2012 Reliance Infrastructure informed the stock exchanges that the company has on 16 January 2012 contributed Rs 267.05 crore and Rs 232.75 crore to the extent of its shareholding in its two joint venture companies in New Delhi viz BSES Rajdhani Power Ltd and BSES Yamuna Power Ltd respectively as advance against share application money pending allotment of equity shares.On 13 February 2012 Reliance Infrastructure announced closure of share buyback programme. The company boughtback 44.30 lakh equity shares of Rs 234.32 crore representing 1.66 of the pre buyback paid up equity shares at an average price of Rs 528.91 per equity share.On 3 September 2012 Reliance Infrastructure announced that its subsidiary Reliance Cement Company Private Limited RCC has commenced production from its first manufacturing unit at Butibori Nagpur Maharashtra. This unit will mainly service the Vidarbha market in Maharashtra. On 17 September 2012 Reliance Infrastructure Limited Rlnfra through its subsidiary Reliance Cement Company Private Limited RCC announced the launch of its first cement under the brand name Reliance Cement.On 23 August 2013 Reliance Infrastructure announced that as per the Maharashtra Electricity Regulatory Commission MERC order dated 22 August 2013 the company has been allowed to recover past arrears along with 14.5 per annum carrying cost at Rs 925 crore per year aggregating to Rs 5550 crore over the next 6 years. The MERC has also allowed RInfra to recover revised cross subsidy surcharge of Rs 819 crore for FY 201314 Rs 896 crore for FY 201415 and Rs 590 crore for FY 201516.On 19 December 2012 Reliance Infrastructure informed the stock exchanges that Reliance Infrastructure Ltd. and other promoter group Companies the Sellers have successfully conducted an Offer for Sale of 5.42 of the share capital of Reliance Power Ltd. RPL to facilitate compliance of RPL with applicable SEBI Guidelines on minimum 25 public shareholding for listed entities.On 1 July 2013 Delhi Airport Metro Express Private Limited DAMEPL a Special Purpose Vehicle of Reliance Infrastructure Ltd. RInfra announced that it has exited Delhi Airport Metro operation. DAMEPL has claimed termination payment from Delhi Metro Railway Corporation DMRC for 130 of equity and 100 of debt due. The matter has been referred to arbitration in accordance with the dispute resolution mechanism specified in the agreement.The Board of Directors of Reliance Infrastructure at its meeting held on 11 November 2013 approved a scheme of merger of Western Region Transmission Gujarat Private Limited WRTGL and Western Region Transmission Maharashtra Private Limited WRTML wholly owned subsidiaries of Reliance Infrastructure Limited Rlnfra with RInfra subject to requisite approvals.Reliance Infrastructure through its Special Purpose Vehicle SPV Mumbai Metro One Pvt Ltd. successfully commenced operations of Mumbai Metro on the VersovaAndheriGhatkopar corridor on 8 June 2014. On 13 November 2014 Mumbai Metro Transport Private Limited MMTPL and Government of Maharashtra announced the termination of Concession Agreement for the Mumbai Metro Line 2 Project CharkopBandraMankhurd corridor at no cost or claim to either party with Government of Maharashtra to return the Bank Guarantee of Rs 160 crore to MMTPL. The project cost was estimated to be about Rs 12000 crore. Government of Maharashtra through an international competitive bidding had awarded the project to the consortium led by Reliance Infrastructure. Due to nonfulfillment o various critical obligations by Government of Maharashtra/Mumbai Metropolitan Region Development Authority MMRDA the project could not take off.On 12 February 2015 Reliance Infrastructure Ltd informed the stock exchanges that the company has set up three wholly owned subsidiaries viz. Reliance Defence Systems Private Limited Reliance Defence Technologies Private Limited and Reliance Defence and Aerospace Private Limited to pursue growth opportunities in the defence sector.On 4 March 2015 Reliance Infrastructure announced the acquisition of Pipavav Defence and Offshore Engineering Company Limited together with sole management control. Reliance Infrastructure together with its wholly owned subsidiary Reliance Defence Systems Private Limited has agreed to acquire from the promoters of Pipavav Defence 13 crore equity shares representing about 18 shareholding in the company at a price of Rs 63 per share aggregating Rs 819 crore. Reliance will also acquire from the promoters of Pipavav Defence such number of additional equity shares of the company at the same price of Rs 63 per share as is required to ensure that Reliances shareholding is not less than 25.10 of Pipavav Defence after taking into account the acquisitions made under the mandatory Open Offer to acquire 26 shares from public shareholders of Pipavav Defence. Pipavav Defence is Indias first worldclass integrated defence production ship building and offshore infrastructure company. Pipavav Defence is Indias first private sector company to get the license and contracts to build frontline warships for the Indian Navy.On 16 November 2015 Reliance Infrastructure announced the signing of a nonbinding Term Sheet with the Public Sector Pension Investment Board PSP Investments one of the largest pension fund managers in Canada with C112.0 billion of net assets under management as of 31 March 2015 in relation to the acquisition by PSP Investments of a 49 equity stake in the companys integrated power generation transmission and distribution business in the city of Mumbai and adjoining areas. The specified business is to be carved out on a going concern basis into a separate SPV in which RInfra will own the controlling 51 stake and PSP Investments will own 49.On 18 January 2016 Reliance Infrastructure Ltd RInfra acquired management and control of Pipavav Defence Offshore Engineering Co Ltd PDOC. RInfra along with defence SPVs are the new Promoters of PDOC and the company will be renamed as Reliance Defence and Engineering Ltd. PDOC has the largest engineering infrastructure in India and is one of the largest in the world. The company is the first private sector company in India to obtain the licence and contract to build warships.On 29 March 2016 Reliance Defence Ltd a 100 subsidiary of Reliance Infrastructure Ltd and Rafael Advanced Defence Systems Ltd announced that they have decided to set up a joint venture company in India in highly specialized areas of AirtoAir Missiles Air Defence Systems and Large Aerostats. The Joint Venture will provide big thrust into field of indigenous production and development of High Precision and state of the art Weapon Systems in India. Reliance Rafael joint venture will have 51 holding from Reliance Defence and 49 by Rafael as per the current guidelines of the Government of India.On 5 May 2016 Reliance Infrastructure announced that its wholly owned subsidiary Reliance Defence Ltd has received 16 Industrial Licenses for manufacture of a wide array of high technology equipment ranging from Small Arms Heavy Weapons Armoured Vehicles Ammunition Explosives Electronic Warfare Systems Missiles UAVs and Directed Energy Weapon Systems Laser Systems for target destruction and C4I Systems for all Defence Platforms. Of the 16 new licenses given to Reliance Defence Ltd 11 pertain to Land Systems 3 for the Naval Systems and remaining 2 covering niche technologies across the Defence spectrum.On 22 August 2016 Reliance Infrastructure Limited RInfra announced the successful completion of sale of its 100 shareholding in Reliance Cement Company Private Limited RCCPL to Birla Corporation Limited the flagship Company of the MP Birla Group. The deal was announced in February 2016. RCCPL has an integrated cement capacity of 5.08 Mtpa at Maihar Madhya Pradesh and Kundanganj Uttar Pradesh and a grinding unit of 0.5 Mtpa at Butibori Maharashtra. The entire proceeds shall be utilized for debt reduction. On 3 October 2016 Dassault Aviation and Reliance Infrastructure promoted Reliance Aerospace announced the creation of a Joint Venture in India. This new joint venture called Dassault Reliance Aerospace will support Government of Indias Make in India and Skill India policies and develop major Indian programs with high levels of technology transfer to benefit the entire aerospace sector. The Dassault Reliance Aerospace Joint Venture will be a key player in the execution of offset obligations as a part of the 36 Rafale fighter Jets purchase agreement at a value of 7.87 billion or about Rs 59000 crore signed between France and India on 23 September 2016.On 5 October 2016 Reliance Infrastructure Limited RInfra announced the signing of a binding Term Sheet with Adani Transmission Limited ATL for 100 stake sale of its Transmission Assets. The transaction is in line with the strategic plan of monetizing noncore business and focus on major growth areas like Defence and EPC business.On 25 November2016 Reliance Infrastructure Limited announced that the Securities and Exchange Board of India SEBI has granted the certificate of registration in terms of Regulation 6 of SEBI Infrastructure Investment Trusts Regulations 2014 Regulations to Reliance Infrastructure InvIT Fund. Reliance Infrastructure Limited is the Sponsor to the said InvIT Fund which will carry out the activities as an InvIT subject to the conditions specified in the SEBI Act 1992 and the Regulations made there under.On 7 December 2016 Reliance Infrastructure Limited RInfra announced the signing of Share Purchase Agreement SPA with Adani Transmission Limited ATL for 100 stake sale of its Western Region System Strengthening Scheme WRSSS Transmission Assets. SPA for Parbati Koldam Transmission Company Limited PKTCL shall be executed upon receipt of approval from Power Grid Corporation of India Limited PGCIL and other statutory approvals. Under this transaction ATL will acquire 100 ownership in WRSSS B C and 74 ownership in PKTCL. The transactions are subject to applicable regulatory approvals. The deal excludes the expected upside from regulatory proceeds of various appeals of the assets.On 5 April 2017 Reliance Infrastructure announced that it has received approval from National Highway Authority of India NHAI to transfer road projects to Reliance Infrastructure InvIT Fund. This is the first approval granted by NHAI for any InvIT fund. The RInfra InvIT Fund with a proposed issue size of Rs. 3000 crore and an option to retain oversubscription up to 25 will own 10 Toll Road Assets connecting major urban centres with an option to acquire further assets in future. The road assets extend 770 kms across 5 states with long concession periods. On 21 June 2017 Thales and Reliance Defence Limited announced their intent to form an Indian Joint Venture JV with the proposed shareholding of 49 and 51 respectively. Leveraging Thales offset commitment as part of Rafale Contract the JV is to develop Indian capabilities to integrate and maintain the Radar and Electronic Warfare sensors. The JV will develop skills and activity in the Special Economic Zone of MihanNagpur together with an Indian supply chain for manufacturing of microwave technologies and high performance airborne electronics.On 22 June 2017 Reliance Infrastructures fully owned subsidiary Reliance Defence Limited announced signing of a Memorandum of Understanding MOU at Paris Air Show with Daher Aerospace France a leading supplier of integrated systems for Aerospace and Advanced Technologies.On 27 October 2017 the foundation Stone was laid for the Dassault Reliance Aerospace Limited DRAL manufacturing facility in Mihan Nagpur in Maharashtra. Under Joint Venture company DRAL 51 Reliance Aerostructure and 49 Dassault Aviation the facility will manufacture several components of the offset obligation connected to the purchase of 36 Rafale Fighters from France signed between the two Governments in September 2016.On 1 November 2017 Reliance Infrastructure Limited RInfra announced the successful completion of 100 stake sale in its two SPVs Western Region System Strengthening Scheme WRSSS Transmission Undertakings to Adani Transmission Limited with the deal valued at Rs. 1000 crore. The entire proceeds from the stake sale shall be utilized for debt reduction.On 6 December 2017 Reliance Infrastructure Limited RInfra announced that it has won two prestigious EPC contracts in Bangladesh together valued at Rs 5000 crore. The projects were won on International Competitive Bidding ICB. The first EPC contract includes setting up the entire infrastructure of a 750 MW LNGbased combined cycle power plant at Meghnaghat Dhaka while the second project is for building a 500 MMSCFD floating storage regasification unit FSRU based integrated LNG terminal project at Kutubdia Island both in Bangladesh. Both the contracts are to be executed in a project schedule of 24 months and are to be completed by 2019.On 21 December 2017 Reliance Infrastructure Ltd. RInfra announced signing of Definitive Binding Agreement with Adani Transmission Limited ATL for 100 stake sale of its Mumbai Power Business which includes integrated business of generation transmission and distribution of power for Mumbai.On 13 April 2018 Reliance Infrastructure Limited EPC announced the receipt of the Letter of Award LOA from the Mumbai Metropolitan Region Development Authority MMRDA for three packages worth Rs.1584 crore for construction of Mumbai Metro for NorthSouth Metro4 corridor which will run between Kasarwadavali in Thane and Wadala. Reliance Infrastructure Limited participated in tender for engineering procurement and construction EPC contracts for five packages in a joint venture with ASTALDI S.P.A Italy.On 19 April 2018 Reliance Infrastructure Limited EPC announced the receipt of the Letter of Award LOA from Rail Vikas Nigam Limited RVNL for its maiden railway project worth Rs.774 crore for the construction of third rail line between Jimidipeta and Gotlam on East Coast Railway on Engineering Procurement and Construction EPC basis. The 105 kmlong line will run in Andhra Pradesh and Odisha. The scope of work includes Civil Track Electrification Signalling and Telecom works of the rail line. The scope of work also includes construction of 13 railway stations and staff quarters. It is the first EPC contract of RVNL for Railway project.On 7 May 2018 Reliance Infrastructure Limited announced that the companys joint venture with Astaldi S.p.A Italy has bagged the engineering procurement and construction EPC contract for the prestigious VersovaBandra Sea Link Project in Mumbai. The letter of award LoA for the project has been issued by Maharashtra State Road Development Corporation MSRDC. Reliance Infrastructure LimitedAstaldi S.p.A JV had emerged the most competitive bidder with their bid of Rs. 6993.99 crore. The other bidders in fray were LTSamsung JV and Hyundai Development CompanyITD JV.On 29 August 2018 Reliance Infrastructure Limited announced the successful completion of the sale of its 100 shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission Ltd. The deal was first announced in December 2017. The total transaction value is Rs. 18800 crore. Reliance Infrastructure has reduced debt liabilities by Rs. 13800 crore from the deal proceeds. Regulatory Assets under Approval of Rs. 5000 crore will flow entirely to Reliance Infrastructure making the Company debtfree in 2019.During the year under review a Scheme of Arrangement between Company and Reliance Electric Generation and Supply Limited REGSL and their respective shareholders already sanctioned by the Honble High Court of Bombay vide its orders dated January 19 2017 January 31 2017 November 20 2017 and November 28 2017 were approved by Maharashtra Electricity Regulatory Commission MERC and lenders. The Scheme was given effect to on August 29 2018 effective from April 1 2018. As per the Share Purchase Agreement executed with the Adani Transmission Limited ATL in December 2017 the Company successfully completed the sale of its 100 shareholding in REGSL to ATL. The Companys Integrated Mumbai Power Distribution Business was transferred to ATL for a total transaction value of Rs. 18800 crore which includes Regulatory Assets Under Approval of about Rs. 5000 crore which will flow directly to the Company. The entire proceeds from transaction were used for reduction of debt.During the year 2019 Reliance Global Limited became a subsidiary of the Company and Reliance Electric Generation and Supply Limited ceased to be a subsidiary of the Company.
OrganisationReliance Infrastructure Ltd
HeadquartersMumbai
IndustryInfrastructure Developers & Operators