RIL Q3FY20 Estimates
By S. P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q3 FY20 results (quarter ended 31st December, 2019), on Friday, 17th January, 2020. Our estimates, on consolidated basis, are as under:
(Rs./ Crore)
| Sr. No. | Particulars | Q3FY20 (Estimates for Qtr ending 31-12-19) | Q2FY20 (Actuals for Qtr ending 30-09-19) |
| 1) | Segment Revenue |
|
|
|
|
| 38,660 | 38,538 |
|
|
| 1,01,350 | 97,229 |
|
|
| 710 | 790 |
|
|
| 42,660 | 41,202 |
|
|
| 17,890 | 15,619 |
|
|
| 10,230 | 9,882 |
|
| Gross Turnover | 2,11,500 | 2,03,260 |
|
| Less: Inter Segment | (-) 41,390 | (-) 39,406 |
|
|
| 1,70,110 | 1,63,854 |
|
| Less: GST Recovered | (-) 12,070 | (-) 11,705 |
|
| Net Turnover | 1,58,040 | 1,52,149 |
| 2) | Segment Results (EBITDA) |
|
|
|
|
| 8,310 | 8,927 |
|
|
| 5,710 | 5,659 |
|
|
| 76 | 128 |
|
|
| 2,590 | 2,322 |
|
|
| 6,275 | 5,324 |
|
|
| 890 | 809 |
|
| Total Profit before Interest, Tax, Depreciation & Amortisation | 23,851 | 23,169 |
| 3) | EBIT Margins |
|
|
|
|
| 7,110 | 7,602 |
|
|
| 5,005 | 4,957 |
|
|
| (-) 345 | (-) 306 |
|
|
| 2,290 | 2,035 |
|
|
| 3,600 | 3,322 |
|
|
| 515 | 399 |
|
| EBIT | 18,175 | 18,009 |
|
| Less: Interest Expenses | (-) 5,560 | (-) 5,450 |
|
| Add: Interest Income | 2,335 | 2,527 |
|
| Add: Other Unallocated Income | 190 | (-) 31 |
|
| PBT | 15,140 | 15,055 |
|
| Less: Provision for Tax @ 21.47% | (-) 3,250 | (-) 2,065 |
|
| Less: Deferred Tax | (-) 1,145 | (-) 1,638 |
|
| Profit After Tax | 10,745 | 11,352 |
|
| EPS | 2215117.60. | 19.50 |
Note: % in brackets indicate margin for Q3FY20E
Key Assumptions:
- GRM for Q3FY20 is estimated at $9.0 per barrel, against $9.4 per barrel of Q2FY20.
- Singapore benchmark is seen at $1.60 for Q3FY20, which was at $6.55 in Q2FY20. This drop is due to sharp fall seen in Dec.19, when GRM went in negative, as key bunkering hubs across the world curtailed inventory, in view of new IMO Regulations.
- Crude refined volume is estimated at 17.6 MMT in Q3FY20, against 16.7 MMT QoQ and petchem volume is estimated at 10.1 MMT in Q3FY20, against 9.9 MMT QoQ.
- Jio Subscribers is seen at 380 million at end of Q3FY20, against 355 million as at end of Q2FY20.
- Retail area estimated at 22 million sq. ft. at the end of Q3FY20, against 24.5 million sq. ft. seen at the end of Q2FY20.
16th Jan 2020 at 06:35 pm