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RIL Q2FY18 Consolidated Estimates

By S P Tulsian
about 7 years ago

By S.P. Tulsian

 

Reliance Industries Ltd. (RIL) will declare its Q2 FY18 results (quarter ended 30th September, 2017), on Friday, 13th October, 2017. Our estimates, on consolidated basis, are as under:

 

(Rs./Crore)

 

Particulars

Q2 ending

30-09-17

Q1 ending

30-06-17

Segment Revenue

 

 
  • Petrochem

26,230

25,461
  • Refinery

69,950

66,945
  • Oil & Gas

1,390

1,324
  • Organised Retail

12,460

11,571
  • Others

4,040

3,911

Gross Turnover

1,14,070

1,09,212

Less: Inter Segment

19,870

18,675

 

94,200

90,537

Less: Excise Duty

7,330

7,066

Net Turnover

86,870

83,471

 

 

 

EBIT Margins

 

 
  • Petrochem (14.55%)

3,820

4,031
  • Refinery (11.25%)

7,870

7,476
  • Oil & Gas

(-) 310

(-) 373
  • Organised Retail

335

292
  • Others

105

90

PBIT

11,820

11,516

Less: Interest Expenses

(-) 1,220

(-) 1,119

Add: Interest Income

570

730

Add: Other Unallocated Income

360

496

PBT

11,530

11,623

Less: Provision for Tax @ 20%

(-) 2,305

(-) 2,321

Less: Deferred Tax

(-) 190

(-) 223

Profit After Tax

9,035

9,079

EPS

15.30

15.40

*Figures in bracket indicates % margin for Q2FY18.

 

Notes:

  1. GRM for Q2 is seen at $ 13.20 per barrel, against $11.90 per barrel of Q1 FY18, after adjusting for net inventory gain of $0.20, as Crude has risen by about 2% or about $1 per barrel in Q2, to at an average of $51/ Barrel.
  2. Singapore benchmark is seen at $ 8.3 for Q2, which was at $ 6.4 in Q1FY18.
  3. EPS is calculated on the equity base of Rs. 5,920 crores, on net off basis, post 1:1 Bonus, in Consolidated Results.                                  
  4. Reliance Jio Q2FY18 financials, viz. revenue and expense recognition are not considered here.
  5. Crude Refined volume is estimated at 17.80 MMT and Petchem volume at 6.6 MMT.