RIL Q2FY19 Consolidated Estimates
By S.P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q2 FY19 results (quarter ended 30th September, 2018), on Wednesday, 17th October, 2018. Our estimates, on a consolidated basis, are as under:
(Rs./Crore)
| Particulars | Q2FY19E (Estimates for Qtr ending 30-09-18) | Q1FY19A (Actuals for Qtr ending 30-06-18) |
| Segment Revenue |
|
|
| 41,070 | 40,287 |
| 98,640 | 95,646 |
| 1,410 | 1,432 |
| 26,930 | 25,890 |
| 10,720 | 9,653 |
| 3,030 | 2,968 |
| Gross Turnover | 1,81,800 | 1,75,876 |
| Less: Inter Segment | (-) 35,200 | (-) 34,177 |
|
| 1,46,600 | 1,41,699 |
| Less: GST Recovered | (-) 8,890 | (-) 8,630 |
| Net Turnover | 1,37,710 | 1,33,069 |
|
|
|
|
| EBIT Margins |
|
|
| 8,130 | 7,857 |
| 5,490 | 5,315 |
| (-) 410 | (-) 447 |
| 1,090 | 1,069 |
| 1,830 | 1,715 |
| 360 | 396 |
| EBIT | 16,490 | 15,905 |
| Less: Interest Expenses | (-) 3,760 | (-) 3,550 |
| Add: Interest Income | 1,280 | 1,366 |
| Add: Other Unallocated Income | 130 | 5 |
| PBT | 14,140 | 13,726 |
| Less: Provision for Tax @ 21.90% | (-) 3,090 | (-) 3,007 |
| Less: Deferred Tax | (-) 1,390 | (-) 1,234 |
| Profit After Tax | 9,660 | 9,484 |
| EPS | 216.20 | 15.97 |
Key Assumptions:
- GRM for Q2 is seen at $10.60 per barrel, against $10.50 per barrel of Q1FY19, after adjusting for net inventory gain of $0.20, as Crude has risen by about 1.3% on an average, to $75.5/ Barrel in the September quarter.
- Singapore benchmark is seen at $6.1 for Q2, which was at $6.1 in Q1FY19.
- Crude Refined volume is estimated at 16.9 MMT and Petchem volume estimated at 9.3 MMT.
- Jio Subscribers estimated at 248 million. Retail area estimated at 19.5 million sq.ft.