Reliance Industries Ltd. share price target

Reliance Industries (Reliance) saw a strong 31%/27% YoY growth in EBITDA/net earnings in Q2FY24, driven by a 44% YoY jump in oil-to-chemical (OTC) segment EBIT, and continued momentum in Upstream, retail and digital services. With sharply higher gas production from the new fields and sustained improvement in retail footprint driving growth.

The annual general meeting hosted by Reliance Industries (RIL) is a highly anticipated event in the corporate calendar.

Pivoted towards consumption and new-age technology in India and beyond for sustainable growth

Reliance Industries (RIL), in its latest AGM laid out the blueprint for value creation over the next decade, with its emphasis on continuing its transition to a new-age digital conglomerate. With emphasis on growing its digital footprint by expanding Jio’s product and solutions bouquet, accelerating efforts to transition to new energy and specialty chemicals, and continuing to leverage the world-scale platform established by its retail segment, RIL sees a radically different future for itself over the next decade vs the last 40 years.

The FY23 annual report of Reliance Industries (RIL) throws up some interesting data points: i) Capex of INR 1.4trn had grown by a material INR 423bn in FY23, ii) resultant, net debt (including spectrum and other deferred payment liabilities) expanded sharply to INR 1.05trn, despite a material INR 428bn of increase in cash + equivalents for the year.

Q1 results broadly in line as the energy business optimised operations and consumer business continued momentum