RIL Q3 FY17 Consolidated Estimates
By S.P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q3 FY17 (quarter ended 31st December, 2016) results on Monday 16th January, 2017. Our estimates, on consolidated basis, are as under:
(Rs./Crore)
| Particulars | Q3 ending 31-12-16 Estimates | Q2 ending 30-09-16 Actuals |
| Segment Revenue |
|
|
| 1. Petrochem | 22,390 | 22,422 |
| 2. Refinery | 61,670 | 60,527 |
| 3. Oil & Gas | 1,410 | 1,327 |
| 4. Organised Retail | 7,230 | 8,079 |
| 5. Others | 3,050 | 3,147 |
| Gross Turnover | 95,750 | 95,502 |
| Less: Inter Segment | 14,590 | 13,851 |
|
| 81,160 | 81,651 |
| Less: Excise Duty | 5,610 | 5,490 |
| Net Turnover | 75,550 | 76,161 |
|
|
|
|
| EBIT Margins |
|
|
| 1. Petrochem (14.42%) | 3,230 | 3,417 |
| 2. Refinery (10.98%) | 6,770 | 5,975 |
| 3. Oil & Gas | -345 | -491 |
| 4. Organised Retail | 135 | 162 |
| 4. Others | 125 | 131 |
| PBIT | 9,915 | 9,194 |
| Less: Interest Expenses | -990 | -893 |
| Add: Interest Income | 890 | 951 |
| Less: Other Unallocated Income | 310 | 632 |
| PBT | 10,125 | 9,884 |
| Less: Provision for Tax @ 24% | -2,430 | -2,347 |
| Less: Deferred Tax | -240 | -361 |
| Profit After Tax | 7,455 | 7,176 |
| EPS | 25.25 | 24.40 |
*Figures in brackets indicates % margin for Q3FY17.
Notes:
1. GRM for Q3 is seen at $ 11.60 per barrel, against $10.10 per barrel of Q2 FY17, including expected net inventory gain of $0.30, as Crude has risen by $4 per barrel in Q3..
2. Singapore benchmark is seen at $ 6.7 for Q3, which was at $ 5.10 in Q2FY17.
3. EPS is calculated on the equity base of Rs. 2,950 crores, as shown on Net off basis in Consolidated Results.
4. Company paid Advance Tax of:
Rs.1,300 crore on 15.06.2016
Rs.2,667 crore on 15.09.2016
Rs.2,600 crore on 15.12.2016
5. Reliance Jio will not have any effect in Q3FY17 financials, as no revenue and expense recognition are seen.