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RIL Q1FY20 Estimates

By S P Tulsian
about 5 years ago

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

 

 
  • Petrochem

42,730

42,414
  • Refinery

94,130

87,844
  • Oil & Gas

1,130

1,069
  • Organised Retail

38,730

36,663
  • Digital Service

15,410

13,609
  • Others

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

 

 
  • Petrochem (17.18%)

7,340

7,975
  • Refinery (4.88%)

4,590

4,176
  • Oil & Gas

(-) 245

(-) 267
  • Organised Retail (4.80%)

1,860

1,721
  • Digital Services (15.55%)

2,395

2,665
  • Others

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.