Reliance Industries Q4 Review - Results Beat Estimates: Systematix

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Systematix Research Report.Reliane Industries Ltd.’s Q4 FY23 result beats estimates on the back of stronger oil-to-chemical profits and tax reversal while the rest of the segment’s profits were in line with estimates. O2C profit benefited from higher throughput (up 5.3% QoQ), stronger refining margin and advantageous ethane cracking economics. Retail revenue was up 21.1%/2.4% YoY/QoQ to Rs 616 billion in Q4 led by strong growth in grocery, electronics and fashion and lifestyle business. While average revenue per user was marginally below estimate (flattish QoQ at Rs 178.8), higher better margin lifted Jio’s profit 17% YoY during Q4 FY23. Net debt remained flattish QoQ despite elevated capex of Rs 444 billion versus 376 billion in Q3 FY23. We cut our FY24E/FY25E Ebitda estimates marginally by 3.6%/1.9% to factor in lower gross refining margin and delay in production from MJ field..Click on the attachment to read the full report:.Reliance Industries Q4 Results Review - Standalone Shines; Consumer Business Steady: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Reliance Industries Q4 Review - Results Beat Estimates: Systematix

MJ field production to start from Q1 FY24.

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