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RIL Q4 FY17 Consolidated Estimates

By S P Tulsian
about 8 years ago

Reliance Industries Ltd. (RIL) will declare its Q4 FY17 results (quarter ended 31st March, 2017), as also, Audited Results for FY17, on Monday, 24th April, 2017. Our estimates on Consolidated basis are as under:

 

(Rs./Crore)

 

Particulars

Q4 ending

 31-03-17

Q3 ending

31-12-16

Segment Revenue

 

 
  1. Petrochem

24,770

22,854
  1. Refinery

61,540

61,693
  1. Oil & Gas

1,275

1,215
  1. Organised Retail

9,030

8,688
  1. Others

2,030

2,156

Gross Turnover

98,645

96,606

Less: Inter Segment

13,715

12,417

 

84,930

84,189

Less: Excise Duty

4,720

4,781

Net Turnover

80,210

79,408

 

 

 

EBIT Margins

 

 

1. Petrochem (14.90%)

3,690

3,301

2. Refinery (9.8%)

6,030

6,194

3. Oil & Gas

(-) 190

(-) 295

4. Organised Retail

295

231

4. Others

90

72

PBIT

9,915

9,503

Less: Interest Expenses

(-) 1,390

(-) 1,209

Add: Interest Income

770

704

Add: Other Unallocated Income

995

1,215

PBT

10,290

10,213

Less: Provision for Tax @ 24%

(-) 2,470

(-) 2,432

Less: Deferred Tax

(-) 120

(-) 287

Profit After Tax

7,700

7,494

EPS

26.01

25.40

*Figures in brackets indicates % margin for Q4FY17.

 

Notes:

  1. GRM for Q4 is seen at $ 10.60 per barrel, against $10.80 per barrel of Q3 FY17, including expected net inventory gain of $0.40, as Crude has risen by 7% or about $3.50 per barrel in Q4.
  2. Singapore benchmark is seen at $ 6.4 for Q4, which was at $ 6.7 in Q3FY17.
  3. EPS is calculated on the equity base of Rs. 2,960 crores, as shown on Net off basis in Consolidated Results.
  4. Reliance Jio will not have any effect in Q4FY17 financials, as no revenue and expense recognition is seen.
  5. Crude Refined volume is estimated at 17.60 MMT and Petchem volume at 6.45MMT.
  6. Petchem segment is likely to perform better due to Volume growth to be seen, with capacity expansion and Polymer & Polyester spread seen higher.
  7. Company paid Advance Tax of :

1st instalment: Rs.1,300 crores on 15.06.2016

              2nd instalment: Rs.2,667 crores on 15.09.2016

              3rd instalment: Rs.2,600 crores on 15.12.2016

              4th instalment: Rs.1,664 crores on 15.03.2017.

 

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