Reliance IndustriesFRA:RLI +0.62%91 Net Margin % is 5.77% as of Mar. 2026, which is 25% below its 10-year median of 7.69. GuruFocus rates FRA:RLI with a GF Score™ of 91/100 and a GF Value™ of €57.96 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 916 Oil & Gas companies, Reliance Industries ranks better than 63.86% on this metric.
The historical rank and industry rank for Reliance Industries's Net Margin % or its related term are showing as below:
FRA:RLI'
s Net Margin % Range Over the Past 10 Years
Min: 6.59 Med: 7.69 Max: 10.52
Current: 7.64
FRA:RLI's Net Margin % is ranked better than 63.86% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs FRA:RLI: 7.64
Reliance Industries (FRA:RLI) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Reliance Industries Net Margin % Related Terms
Reliance Industries Net Margin % Historical Data
* Premium members only.
The historical data trend for Reliance Industries's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Refining & Marketing subindustry, Reliance Industries's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Reliance Industries Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Reliance Industries's Net Margin % distribution charts can be found below:
* The bar in red indicates where Reliance Industries's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Reliance Industries (FRA:RLI) has a Net Margin % of 5.77% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Reliance Industries and its competitors. This is 25% below median its historical median of 7.69. Over the past decade, Reliance Industries' Net Margin % has ranged from 6.59 to 10.52. According to the industry distribution chart, Reliance Industries ranks #331 out of 916 companies in the Oil & Gas industry, placing it in the top 36.1%.
Is Reliance Industries' Net Margin % too high?
Reliance Industries' current Net Margin % of 5.77% is 25% below median its 10-year median of 7.69. Over the past 10 years, this metric has ranged from a low of 6.59 to a high of 10.52. The Oil & Gas industry median Net Margin % is 3.44. Reliance Industries' value of 5.77% is 68% above this industry median. Based on the distribution chart, Reliance Industries ranks #331 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Reliance Industries has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Reliance Industries' Net Margin % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Reliance Industries ranks #331 out of 916 companies for Net Margin %. This puts Reliance Industries in the upper half of its industry. The industry median Net Margin % is 3.44. Reliance Industries' value of 5.77% is 68% above this benchmark. Historically, Reliance Industries' own Net Margin % has ranged from 6.59 to 10.52 over the past decade. While the company's 10-year median is 7.69 vs. the industry median of 3.44, Reliance Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Reliance Industries's current Net Margin % of 5.77% is 68% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Reliance Industries and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Reliance Industries's current Net Margin % is 5.77%, which is 25% below median its own 10-year median of 7.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reliance Industries stock overvalued right now?
Based on GuruFocus' analysis, Reliance Industries (FRA:RLI) is currently considered Modestly Undervalued. The stock's GF Value™ is €57.96, compared to a current price of €48.60 — trading 16.1% below its estimated fair value. The current Net Margin % is 5.77%, which is 25% below median its 10-year median of 7.69 and 68% above the Oil & Gas industry median of 3.44. Reliance Industries' overall GF Score™ is 91/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Reliance Industries (FRA:RLI), the current Net Margin % is 5.77% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Reliance Industries (FRA:RLI) Overvalued in 2026?
Based on GuruFocus' analysis, Reliance Industries stock appears to be undervalued.
The current stock price of €48.60 is trading 16.1% below its estimated GF Value™ of €57.96.
GuruFocus considers Reliance Industries to be Modestly Undervalued.
Key valuation signals for FRA:RLI:
Net Margin %: 5.77% (25% below median its 10-year median of 7.69)
GF Value™: €57.96 vs. price of €48.60 (16.1% below fair value)
Industry Position: 68% above the Oil & Gas median (#331 of 916)
No single metric tells the full story. See the FRA:RLI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Reliance Industries Ltd is engaged in hydrocarbon exploration and production, refining and marketing, petrochemicals, financial services, retail, and communications. The company has five principal operating and reporting segments: Oil to Chemicals (O2C), Oil and Gas, Retail, Digital Services, and other services. Reliance's refineries produce a range of petroleum products that find use as fuel variants, feedstock, and fuel for power and cement plants. Fuels produced in refineries are exported to several countries and can be processed into any grade of gasoline or diesel. The Oil to Chemicals segment, which derives the majority of revenue, includes Refining, Petrochemicals, fuel retailing through Reliance BP Mobility Limited, aviation fuel, and bulk wholesale marketing.
91GF Score
Get the complete analysis for FRA:RLI
Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:RLI has been successfully added to your 
