RIL Q1FY20 Estimates
By S. P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q1 FY20 results (quarter ended 30th June, 2019), on Friday,
19th July, 2019. Our estimates, on consolidated basis, are as under:
(Rs./ Crore)
| Particulars | Q1FY20E (Estimates for Qtr ending 30-06-19) | Q4FY19A (Actuals for Qtr ending 31-03-19) |
| Segment Revenue |
|
|
| 42,730 | 42,414 |
| 94,130 | 87,844 |
| 1,130 | 1,069 |
| 38,730 | 36,663 |
| 15,410 | 13,609 |
| 7,830 | 7,939 |
| Gross Turnover | 1,99,960 | 1,89,538 |
| Less: Inter Segment | (-) 38,380 | (-) 35,428 |
|
| 1,61,580 | 1,54,110 |
| Less: GST Recovered | (-) 12,970 | (-) 12,476 |
| Net Turnover | 1,48,610 | 1,41,634 |
|
|
|
|
| EBIT Margins |
|
|
| 7,340 | 7,975 |
| 4,590 | 4,176 |
| (-) 245 | (-) 267 |
| 1,860 | 1,721 |
| 2,395 | 2,665 |
| 145 | 144 |
| PBIT | 16,085 | 16,414 |
| Less: Interest Expenses | (-) 4,375 | (-) 4,894 |
| Add: Interest Income | 1,020 | 1,276 |
| Add: Other Unallocated Income | 790 | 1,062 |
| PBT | 13,520 | 13,858 |
| Less: Provision for Tax @ 21.5% | (-)2,910 | (-) 2,804 |
| Less: Deferred Tax | (-) 775 | (-) 627 |
| Profit After Tax | 9,835 | 10,427 |
| EPS | 2215116.60. | 17.50 |
Note: Figures in the bracket indicate margins for Q1FY20E.
Key Assumptions:
1. GRM for Q1 is seen at $8.60 per barrel, against $8.20 per barrel of Q4FY19, after adjusting for inventory gains.
2. Singapore benchmark is seen at $3.5 for Q1 FY20, which was at $3.2 in Q4FY19.
3. Crude Refined volume is estimated at 16.4 MMT and Petchem volume is estimated at 9.3 MMT.