Billionaire Mukesh Ambani-led Reliance Industries Ltd will announce its fourth-quarter results on April 21, 2023 after market hours. Reliance Industries (RIL) shares fell on Thursday, ahead of the oil-to-telecom major's Q4 results
RIL's consolidated PAT is expected to increase by 7% sequentially due to higher Oil-to-chemicals (O2C) earnings and decent growth from Jio and retail business. Overall revenues are expected to rise 2% QoQ, according to analysts
RIL is pegged to report operating margins at 16.9% in the three-month period. On valuations front, RIL’s valuations are reasonable given the strong growth outlook, according to Sharekhan
HDFC Securities expects RIL to report EBITDA of Rs 37,800 crore (over 20.4% YoY and over 7.1% QoQ), supported by a steady performance from the retail and telecom segments
"RIL results will be lower due to QoQ decline in diesel, ATF spreads despite factoring in lower windfall tax impact. We estimate refining throughput of 16.5 MTPA, (16.2 MT in Q3)," said Avishek Datta – Research Analyst, Prabhudas Lilladher
Prabhudas Lilladher bets on RIL’s Jio and retail segment performance. “We expect steady Jio performance (3.3% QoQ revenue growth and 2.1% QoQ ARPU hike), while retail segment profitability should be resilient,” the brokerage firm said
Brokerage Motilal Oswal said further clarity on Rs 75,000-crore announcements in the new energy business, growth in retail store additions would be key monitorables. ICICI Securities expect commentary on Jio's ARPU trajectory, Jio Fiber to be important
Ahead of its quarterly results, Sharekhan has a target of Rs 2,896 for RIL share price. "We prefer RIL among downstream players given the strong growth outlook for consumer-centric business (retail and Jio businesses), reasonable valuation. RIL is also favourable for investment given run-up to AGM," Sharekhan said
JM Financial has maintained 'buy' rating on RIL with a target of Rs 2,900 as the stock is closer to its bear-case valuation of Rs 2,000 per share, while it expects RIL’s EPS to grow at a strong 13-15% CAGR over the next 3-5 years
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