RIL - Impressive Q4 Performance But Challenges Ahead: Prabhudas Lilladher
A Reliance Industries construction site in Bandra-Kurla Complex in Mumbai (Photographer: Dhiraj Singh/Bloomberg)

RIL - Impressive Q4 Performance But Challenges Ahead: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

We increase our FY22/23E Ebitda estimates by approximately 3% to factor in faster exploration and production volume ramp up, but higher depreciation and other minor changes lead to earnings per share cut of 2%/6% respectively.

Recovering the global economy aided by expanding vaccination coverage will help drive demand (albeit near term challenges in the domestic market) and augur well for all Reliance Industries Ltd.’s business segments.

With stated intention to monetize and forge global partnership across businesses, the company is well-positioned to incubate new business and pursue inorganic opportunities given its liquid balance sheet.

We believe positive news flow on global partnerships or stake sale will likely keep valuations at an elevated level.

Click on the attachment to read the full report:

Prabhudas Lilladher Reliance Industries Q4FY21 Result Review.pdf

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