Analyst Estimates: Here's What Brokers Think Of Reliance Industries Limited (NSE:RELIANCE) After Its Third-Quarter Report

As you might know, Reliance Industries Limited (NSE:RELIANCE) last week released its latest third-quarter, and things did not turn out so great for shareholders. Results look to have been somewhat negative - revenue fell 4.0% short of analyst estimates at ₹2.3t, and statutory earnings of ₹25.52 per share missed forecasts by 3.8%. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.

Check out our latest analysis for Reliance Industries

After the latest results, the 31 analysts covering Reliance Industries are now predicting revenues of ₹10t in 2025. If met, this would reflect a solid 15% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to step up 11% to ₹123. Before this earnings report, the analysts had been forecasting revenues of ₹10t and earnings per share (EPS) of ₹124 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

The analysts reconfirmed their price target of ₹2,858, showing that the business is executing well and in line with expectations. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Reliance Industries, with the most bullish analyst valuing it at ₹3,330 and the most bearish at ₹2,100 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. The period to the end of 2025 brings more of the same, according to the analysts, with revenue forecast to display 12% growth on an annualised basis. That is in line with its 12% annual growth over the past five years. Compare this with the broader industry, which analyst estimates (in aggregate) suggest will see revenues grow 5.6% annually. So although Reliance Industries is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. The consensus price target held steady at ₹2,858, with the latest estimates not enough to have an impact on their price targets.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Reliance Industries going out to 2026, and you can see them free on our platform here..

You can also see whether Reliance Industries is carrying too much debt, and whether its balance sheet is healthy, for free on our platform here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.