Reliance Industries: Decoding Shareholding, Financials & Future Growth (FY2025)

Reliance Industries Limited (RIL) stands as one of India’s most iconic and diversified conglomerates, with operations across energy, petrochemicals, telecom, retail, digital services, and renewable energy. Under the visionary leadership of Mukesh Dhirubhai Ambani, RIL has become a cornerstone of India’s industrial and capital market ecosystem.

This article offers a detailed view of RIL’s shareholding pattern as of March 31, 2025, along with key insights into its financials, investor categories, institutional holdings, and growth metrics, tailored for shareholders, analysts, and retail investors.

Table of Contents

1. Key Shareholding Highlights (as of 31 March 2025)
2. Shareholding Category-Wise Summary
3. Promoter Group – Major Shareholders
4. Public Shareholding – Key Institutional Investors
   1. Domestic Institutions
   2. Foreign Institutional Investors
5. Public – Non-Institutional Shareholders
6. Financial Overview – FY2025 (Consolidated)
   1. Key Financial Metrics
   2. Growth Trends
7. Strategic Business Overview
8. Investor Highlights
9. Conclusion
10. FAQs

Key Shareholding Highlights (as of 31 March 2025)

A company’s shareholding structure offers insights into its capital stability and investor participation. As of 31 March 2025, TCS maintained a fully dematerialised equity base with no pledged shares or outstanding convertibles. The presence of 2.7 crore depository receipts reflects its modest international investor participation. With 47.65 lakh shareholders, TCS enjoys broad retail and institutional ownership.

Wrap-up: TCS’s clean capital structure, with zero pledges or convertibles, signals strong financial discipline. Its wide shareholder base and global DRs reflect stable, diversified investor confidence.

Shareholding Category-Wise Summary

Reliance Industries maintains a robust promoter holding of 50.11%, ensuring strong promoter control. Institutional investors collectively hold a significant 38.51%, reflecting sustained confidence from both domestic and foreign entities. Public and retail investors account for 11.31% of the total equity capital. Additionally, 1.99% is held via Depository Receipts (DRs), managed separately from the total equity.

Wrap-up: Reliance’s 50.11% promoter stake ensures tight control, while 38.51% institutional holding signals long-term investor trust. Retail and DR holdings add depth to its shareholder mix.

If you’re analysing Reliance from an investor's lens, you should review its Reliance Industries share price, valuations, ratios, and historical performance on the company page to gain actionable financial insights.

Promoter Group – Major Shareholders

Reliance Industries’ promoter group comprises 52 entities, including LLPs, private companies, and direct family members of Mukesh Ambani. The largest stakes are held by key LLPs and investment holding companies closely associated with the Ambani family.

As of March 19, 2025, Synergy Synthetics Pvt Ltd was merged into RIHPL.

Wrap-up: Reliance’s promoter group spans 52 entities, dominated by family-linked LLPs and holding firms. Just four LLPs, Srichakra, Devarshi, Karuna, and Tattvam, together control over 35% of the company, anchoring promoter control firmly within the Ambani family’s core investment arms.

Want to compare how Reliance business model stacks up against global giants like Amazon, Apple, and Alibaba? This comparative strategy blog dives into how each company builds investor confidence and scale.

Public Shareholding – Key Institutional Investors

Reliance Industries enjoys strong support from domestic institutional investors, led by mutual funds and insurance companies. These institutions collectively hold a significant share, reflecting sustained domestic confidence in the company’s long-term prospects.

Domestic Institutions

Foreign Institutional Investors

Public – Non-Institutional Shareholders

Beyond institutional investors, a diverse group of retail individuals, directors, NRIs, and corporate entities hold Reliance Industries shares. Retail investors with small-ticket holdings form the largest segment within this category.

Wrap-up: Reliance draws strong backing from domestic institutions like mutual funds and insurers, reinforcing confidence in its fundamentals. On the public side, retail investors dominate the non-institutional category, showing widespread individual participation across the country.

Financial Overview – FY2025 (Consolidated)

Reliance Industries delivered a strong financial performance in FY2025, driven by resilient consumer businesses, robust energy operations, and steady retail and telecom growth. The company maintained healthy profitability and balance sheet metrics while managing debt prudently.

Key Financial Metrics

Wrap-up: Reliance closed FY25 with ₹9.6 lakh crore in revenue and ₹81,309 crore in net profit, supported by strong consumer and energy segments. With a debt-to-equity of 0.41 and ROCE of 10%, it balanced growth and leverage effectively, maintaining financial strength across the board.

For a breakdown of quarterly performance, revenue mix, and margin dynamics, refer to this detailed Reliance FY25 result—it complements this year's FY25 performance review perfectly.

Growth Trends

Over the years, Reliance Industries has demonstrated consistent revenue and profit growth, though stock performance has moderated recently after a decade of strong returns. Long-term CAGRs reflect the company’s successful diversification and value creation across core and new-age businesses.

Wrap-up: Reliance has delivered steady revenue and profit growth, backed by smart diversification into retail, telecom, and digital. While stock returns have cooled recently, long-term CAGRs still highlight strong value creation over the past decade.

Strategic Business Overview

Reliance Industries operates a highly diversified business portfolio, spanning energy, digital services, retail, and emerging clean energy initiatives. The company continues to consolidate leadership in its core segments while aggressively expanding into new-age, future-ready businesses.

• Oil-to-Chemicals (O2C): ~57% of revenues. World's largest single-site refinery (Jamnagar).
• Retail: Over 18,000 stores. Collaborations with 7-Eleven, Pret A Manger.
• Telecom: Jio Platforms – India’s largest 5G network provider.
• New Energy: ₹75,000 Cr commitment to green hydrogen, solar PV, battery storage.

Wrap-up: Reliance runs a deeply diversified empire, from O2C, which drives over half its revenue, to India’s largest 5G network through Jio. Its retail arm spans 18,000+ stores, while its ₹75,000 crore push into green energy shows it’s playing the long game on sustainability and tech-led growth.

Investor Highlights

Reliance Industries continues to command investor confidence with its dominant market leadership and diversified business strategy. While operational and financial fundamentals remain strong, certain areas warrant attention for future performance improvement.

Strengths

• Dominant market presence in multiple sectors
• Strong operational cash flow
• Long-term promoter stability and no pledged shares
• Low debt-equity and consistent dividends

Concerns

• Low ROE (9%)
• Modest profit growth in FY24–25
• Underperformance in stock price (YoY: +1%)

Wrap-up: Reliance’s leadership across sectors, steady cash flows, and clean capital structure keep investor trust intact. But flat stock performance, modest profit growth, and a subdued 9% ROE signal areas that need sharper execution going forward.

Before you decide to invest or hold, watch what Harsh Goela (Goela School of Finance LLP) says about Reliance's rally—it’s smart viewing for investors.

Conclusion

Reliance Industries Limited (RIL) continues to be a pillar of strength in India's corporate and capital market landscape. With a diversified business model, zero-pledge promoter holdings, a broad base of retail and institutional investors, and strong financial fundamentals, RIL remains an attractive long-term investment for shareholders. While recent profit growth and stock performance have moderated, the company's sustained focus on next-generation sectors like renewable energy, retail, and digital infrastructure signals resilience and adaptability. For investors, RIL offers a rare blend of stability, innovation, and strategic leadership under the Ambani family, making it a key component in any long-term equity portfolio.

Wrap-up: Reliance stands out as a long-term compounder, anchored by stable promoter holdings, a diverse investor base, and a future-focused business mix. While short-term returns have been muted, its push into green energy, retail, and digital infrastructure keeps the growth engine running. For serious investors, it remains a core portfolio stock.

FAQs

1. Who are the major shareholders of Reliance Industries Limited (RIL)?

The major shareholders of RIL include promoter entities like Srichakra Commercials LLP, Devarshi LLP, and members of the Ambani family. Institutional investors such as LIC, mutual funds, and foreign portfolio investors like the Government of Singapore also hold significant stakes.

2. What is the promoter holding in RIL as of March 2025?

As of March 31, 2025, the promoter and promoter group hold 50.11% of RIL’s total equity capital.

3. Is RIL a good stock for long-term investors?

Yes, RIL is widely considered a strong long-term investment due to its diversified revenue streams, steady cash flow, minimal debt, and strategic positioning in emerging sectors like green energy and digital infrastructure.

4. What is the financial performance of RIL in FY2025?

In FY2025, RIL reported a consolidated net profit of ₹81,309 crore on sales revenue of ₹9,64,693 crore, with an EPS of ₹51.47 and ROE of 8.51%.

5. Does RIL pay dividends to shareholders?

Yes, RIL consistently pays dividends and maintains a strong dividend payout policy supported by robust cash flows and stable earnings.

6. What percentage of RIL shares are held by foreign investors?

As of March 2025, foreign portfolio investors (FPIs) collectively hold over 19% of RIL’s shares, with the total foreign investment utilization at approximately 21% of the board-approved 100% limit.

7. How many shareholders does RIL have?

RIL has approximately 47.65 lakh shareholders, making it one of the most widely held stocks in India.

8. What are the key growth drivers for RIL in the future?

Future growth drivers include expansion in renewable energy (green hydrogen, solar, storage), scaling up Jio’s digital ecosystem, and continued growth in organized retail and e-commerce.