RIL Q4 FY15 Estimates
By S.P. Tulsian
Reliance Industries Ltd. (RIL) will declare its Q4 FY15 (quarter ended 31st March, 2015) results on Friday 17th April, 2015.
Our estimates on consolidated basis are as under:
(Rs./Crore)
| Particulars | Q4 ending 31-03-15 | Q3 ending 31-12-14 |
| Segment Revenue |
|
|
| 19,880 | 23,001 |
| 62,300 | 81,777 |
| 3,005 | 2,841 |
| 5,230 | 4,686 |
| 2,650 | 3,447 |
| Gross Turnover | 93,065 | 1,15,752 |
| Less: Inter Segment | 16,655 | 19,422 |
|
| 76,410 | 96,330 |
| Less: Excise Duty | 2,650 | 2,802 |
| Net Turnover | 73,760 | 93,528 |
|
|
|
|
| EBIT Margins |
|
|
| 1. Petrochem (10.46%) | 2,080 | 2,064 |
| 2. Refinery (7.00%) | 4,360 | 3,267 |
| 3. Oil & Gas (27.29%) | 820 | 832 |
| 4. Organised Retail (2.98%) | 156 | 133 |
| 5. Others | 214 | 248 |
| PBIT | 7,630 | 6,544 |
| Less: Interest Expenses | -1,270 | -1,137 |
| Add: Interest Income | 1,020 | 1,051 |
| Less: Other Unallocated Income | 370 | 560 |
| PBT | 7,750 | 7,018 |
| Less: Provision for Tax @20.70% | -1,565 | -1,416 |
| Less: Deferred Tax | -270 | -331 |
| Profit After Tax | 5,915 | 5,271 |
| EPS | 18.30 | 16.25 |
*Figures in brackets indicates % margin for Q4FY15.
Notes:
- GRM for Q4 is seen at $ 10.10 per barrel, as Q4 is expected to have marginal inventory gains as well.
- Brent Crude ruled between $49 to $62 per barrel for whole of Q4, with very little volatility during the quarter.
- Singapore benchmark was seen at $ 8.5 for Q4, which was at $ 5.7 in FY15.
- Debt as at 31-12-2014 is estimated at Rs.1,64,000 crore, while cash and cash equivalents are seen at Rs. 86,000 crore, with net debt seen at Rs. 78,000 crore, as at 31-03-2015.
- Company has commenced 230 fuel retail outlets during the year.
- EPS is calculated on the equity base of Rs. 3,235 crore, and not on reduced equity, as shown by the company in the consolidated results.