RIL Q2 FY16 Estimates
By S.P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q2 FY16 (quarter ended 30th September, 2015) results on 16th October, 2015. Our estimates on consolidated basis are as under:
(Rs./Crore)
| Particulars | Q2 ending 30-09-15 | Q1 ending 30-06-15 |
| Segment Revenue |
|
|
| 19,350 | 20,858 |
| 55,060 | 68,729 |
| 1,730 | 2,057 |
| 4,590 | 4,698 |
| 2,170 | 2,579 |
| Gross Turnover | 82,900 | 98,921 |
| Less: Inter Segment | 14,090 | 15,857 |
|
| 68,810 | 83,064 |
| Less: Excise Duty | 5,170 | 5,934 |
| Net Turnover | 63,640 | 77,130 |
|
|
|
|
| EBIT Margins |
|
|
| 1. Petrochem (13.26%) | 2,565 | 2,338 |
| 2. Refinery (8.25%) | 4,540 | 5,252 |
| 3. Oil & Gas (0.29%) | 05 | 32 |
| 4. Organised Retail (2.00%) | 92 | 111 |
| 5. Others | 218 | 234 |
| PBIT | 7,420 | 7,967 |
| Less: Interest Expenses | -920 | -902 |
| Add: Interest Income | 865 | 781 |
| Add: Other Unallocated Income | 295 | 306 |
| PBT | 7,660 | 8,152 |
| Less: Provision for Tax @22.40% | -1,710 | -1,825 |
| Less: Deferred Tax | -88 | -104 |
| Profit After Tax | 5,862 | 6,223 |
| EPS | 18.11 | 19.23 |
*Figures in brackets indicates % margin for Q2FY16.
Notes:
- GRM for Q2 is seen at $ 9.10 per barrel, as against $10.40 per barrel of Q1, due to inventory loss of Rs. 390 crores likely in Q2.
- Singapore benchmark was seen at $ 6.40 for Q2, which was at $ 8 in Q1FY16.
- EPS is calculated on the equity base of Rs. 3,236 crores, and not on reduced equity, as being shown by the company in its consolidated results.
- Company paid Advance Tax of Rs. 1,060 crores on 15.06.15 and Rs. 1,670 crores on 15.09.15, which is 45% of its estimated tax liability for FY16, net off TDS.
- Current Assets and Net Debt, as at 30.09.15, to be examined, post results, which will be given with Q2 numbers.