IDBI Capital: Reliance Industries - A Net -Cash Company – Achieved Milestone Before Time 
The Reliance Industries Ltd. logo is displayed at the company’s annual general meeting. (Photographer: AdeelHalim/Bloomberg)

IDBI Capital: Reliance Industries - A Net -Cash Company – Achieved Milestone Before Time 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Reliance Industries Ltd.’s Q2 FY21 result was below our estimates at operational level while profit after tax was higher than our and consensus estimates on the back of deferred tax reversal.

Overall, petrochemical profit is ahead of our expectations on the back of both higher than expected volume and margin while refining segment volume and gross refining margin disappointed.

While retail business saw a strong 30%/85% revenue/Ebitda growth QoQ, Jio business recorded 6%/2% QoQ growth, on the back of higher average revenue per user and subscriber base.

Click on the attachment to read the full report:

IDBI Capital Reliance Industries Q2FY21Result Update.pdf

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