Reliance Industries Ltd. share price target

Consolidated/standalone business EBITDA grew 51%/37% YoY (13%/11% beat led by the standalone business which saw a growth of 62% YoY and 8% QoQ) in 2QFY22. RJio's EBITDA was in line (up 20% YoY and 4% QoQ)....

Revenue was up 49.8% YoY to | 174104 crore as all segments reported revenue growth. It grew 20.6% QoQ led by retail and O2C segment EBITDA was | 26020 crore, up 37.3% YoY, 11.3% QoQ. EBITDA growth YoY was driven by retail (44.1%) and O2C (43.9%) on account of favourable...

What should investors do? Long term prospects and dominant standing of RIL in each of its product & service portfolio, provide comfort for long term value creation. RIL's consumer business will be the growth driver, going ahead. The company has a...

RIL continues to up the ante in retail space and launch of 7/11 stores will add to momentum created by Just Dial, Netmeds and Urban Ladder acquisitions We upgrade RIL to BUY' (from earlier Under Review) and increase TP to Rs2,955 (previous Rs2,416) as we incorporate higher value for Hydrocarbon (improved GRMs), Retail (higher multiple for grocery, electronics and fashion) and Telecom businesses (higher ARPU). RIL made its first move of foraying...

RIL expects to sustain growth across businesses with customer retention/loyalty, operational efficiency, compelling offers and new launches. However, amidst COVID uncertainties, we see limited upside and therefore downgrade our rating on the stock to HOLD with a revised...

Reliance Industries consolidated net sales increased 58.58% to Rs 139949 crore in Q1FY22 compared to Q1FY21. Sales of Others segment rose 48.41% to Rs 12,100.00 crore (accounting for 6.76% of total sales). Sales of Oil and Gas segment has gone up 153.16% to Rs 1,281.00 crore (accounting for 0.72% of total sales). Sales of Organized Retail segment has gone up 21.91% to Rs 38,563.00 crore (accounting for 21.54% of total sales). Sales of Digital Services segment has gone up 9.86% to Rs 23,403.00 crore (accounting for 13.07% of total sales)....

EBITDA for the consolidated/standalone business rose 38%/61% YoY in 1QFY22 on a low base of last year (2% beat). On a QoQ basis, consolidated revenue/EBITDA is up -6%/1%. RJio's EBITDA was in line (up 23% YoY), while the same for Retail grew 79% YoY (6% beat) on a low base. Despite the impact of the second COVID wave, RJio held its ground after the push from the Jio Phone launch in 4QFY21. Revenue/EBITDA grew 4% QoQ (in line) on a steady 14.4m net subscriber additions, along with flattish ARPU. EBITDA margin expanded 10bp QoQ to 47.9%....

We change our earnings by -4%/+5.1% for FY22/23E, as we expect growth to be back ended. Despite pandemic restrictions, O2C segment benefitted from higher spreads (polymer margins up 30-40% from pre covid levels, albeit lower sequentially) and cost optimization while Jio performance was steady. Retail was hit by lower footfalls (-46% QoQ), but will pick up as restrictions ease. Recovering economic activity augurs well for all RIL's business...

FY21 has been a landmark year for Reliance Industries Ltd (RIL). The new-age Retail and Digital businesses flourished despite the COVID-led disruption, led by the emergence of RIL's disruptive and aggressive growth philosophy. As a result, this...

Solid Balance Sheet, improving market share, diversified portfolio, strong FCFs and accelerated vaccination drive should support company's growth prospects further despite unprecedented challenges. Therefore, we reiterate our BUY rating on the stock with a revised...