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RIL Q4FY19 Estimates

By S P Tulsian
about 6 years ago

Reliance Industries Ltd. (RIL) will declare its Q4FY19 results (quarter ended 31st March, 2019), on Thursday, 18th April, 2019. Our estimates, on consolidated basis, are as under:

(Rs./Crore)

Particulars

Q4FY19E

(Estimates for Qtr ending 31-03-19)

Q3FY19A

(Actuals for Qtr ending 31-12-18)

Segment Revenue

 

 
  • Petrochem

44,640

46,246
  • Refinery

1,03,110

1,11,738
  • Oil & Gas

1,130

1,182
  • Organised Retail

39,490

35,577
  • Digital Service

13,590

12,302
  • Others

5,660

5,707

Gross Turnover

2,07,620

2,12,752

Less: Inter Segment

(-) 39,870

(-) 41,416

 

1,67,750

1,71,336

Less: GST Recovered

(-) 10,490

(-) 11,037

Net Turnover

1,57,260

1,60,299

 

 

 

EBIT Margins

 

 
  • Petrochem (18.19%)

8,120

8,221
  • Refinery (4.50%)

4,630

5,055
  • Oil & Gas

(-) 195

(-) 185
  • Organised Retail (4.47%)

1,765

1,512
  • Digital Services (19.72%)

2,680

2,362
  • Others

395

376

PBIT

17,395

17,341

Less: Interest Expenses

(-) 4,390

(-) 4,119

Add: Interest Income

1,295

1,171

Add: Other Unallocated Income

95

 52

PBT

14,395

14,445

Less: Provision for Tax @ 20.5%

 (-) 2,950

(-) 2,955

Less: Deferred Tax

(-) 970

(-) 1,114

Profit After Tax

10,475

10,376

EPS

2215117.80.

17.30

Note: Margins in brackets stand for Q4FY19E

Key Assumptions:

  1. GRM for Q4 is seen at $8.10 per barrel, against $8.80 per barrel of Q3FY19, after adjusting for inventory gains.
  2. Singapore benchmark is seen at US $3.3 for Q4FY19, which was at $4.3 in Q3FY19.                  
  3. Crude Refined volume is estimated at 16.8 MMT and Petchem volume is estimated at 9.4 MMT.
  4. Jio subscribers estimated at 300 million. Retail area estimated at 21.40 million sq. ft. as of 31-3-19.