📌 At a Glance
From₹-2,564 Cr loss in FY23 to ₹9,177 Cr profit in FY25, Reliance Infrastructure just pulled a financialKantara climax. But wait — 7,933 Cr of it is “other income.”
So is this a true turnaround story? Or just another “balance sheet ka jadoo”?
Let’s break it down, Edu-style.
🏢 About Reliance Infrastructure
- Sector:Power, Roads, Metro, Airports, Defence (basically everything not working in India)
- Power Biz:220 MW at Samalkot, 48 MW at Mormugao, 9.39 MW wind at Chitradurga
- Discoms:BRPL & BYPL light up Delhi homes (unless someone forgets to pay CESC)
- Defence Ventures:Somewhere between prototype and PowerPoint stage
Fun Fact: They were oncedevelopers of Mumbai Metro Line 1. Today, they’re stuck in a different kind of traffic — theinsolvency court docket.
🧾 5-Year Financial Snapshot
| Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | OPM % | EPS (₹) | ROCE % | Borrowings (₹ Cr) | Reserves (₹ Cr) | Other Income (₹ Cr) |
|---|---|---|---|---|---|---|---|---|
| FY21 | 17,735 | 3,116 | 1% | 42.79 | 19% | 13,907 | 10,597 | 6,754 |
| FY22 | 19,689 | -868 | 9% | -37.98 | 5% | 12,718 | 12,144 | 830 |
| FY23 | 22,398 | -2,564 | 6% | -91.57 | 9% | 11,510 | 8,942 | -50 |
| FY24 | 22,805 | -1,148 | 9% | -40.61 | 7% | 9,895 | 8,351 | 1,057 |
| FY25 | 23,592 | 9,177 | 16% | 124.64 | 34% | 6,361 | 14,034 | 7,933 |
📈 What Changed in FY25?
- Operating margin spiked to16%
- Net profit at₹9,177 Crbut₹7,933 Cr of that is “Other Income”
- Debtslashed from ₹13,907 Cr (FY21) to ₹6,361 Cr
- ROCE jumpedto 34% — impressive… unless your CA says “non-operating gain”
- Promoter holding stayedlow at 16.5%— like Ambani saying “I don’t even go here”
🧨 The NCLT Saga
Just weeks before this profit explosion, Reliance Infra was being dragged toinsolvency courtover a ₹886 Cr debt.
Then:
- ₹92.68 Cr paid to settle the dispute
- NCLTorder suspended
- NCLAThearing next on July 18, 2025
In short: They’re dodging insolvency bullets like Neo fromThe Matrix.
📦 Business Mix Breakdown
🟡 Power Segment (91% Revenue)
- Operates thermal +
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