Reliance Industries, Jio to Retail, what to expect from Q2 results today | All you need to know

India’s biggest company Reliance Industries Q2 results are expected today evening - RIL is the biggest heavyweight company in Nifty 50. Major Analysts monitoring Reliance say that it has been the major beneficiary during Covid-19 pandemic. They were able to become debt free by securing funding from international investors via selling stake in Jio and Reliance Retail. Securing Investments from Facebook, Google, KKR, TPG, Abu Dhabi Fund and many other institutions indicate that Reliance Industries represents strong fundamentals of Indian Economy; also it shows the willingness and confidence of foreign investors to invest in India for phenomenal returns in future. 

HDFC Securities expect RIL’s consolidated EBITDA to increase by 12% QoQ to Rs 189 bn. Refining business should be weak owing to lower volumes, offset by an increase in GRMs. An increase in production will drive Petchem performance. HDFC Securities expects EBITDA of Rs 15.3 bn from its retail segment. HDFC Securities have estimated 12.5 mn subscriber additions in Q2 and ARPU of Rs 145, up 3.5% QoQ.

Bloomberg Consensus estimates indicate RIL Cons Q2 FY21 Revenue to be up 20% at 1.05 lakh cr vs 88253 cr (QoQ), EBITDA up 7.5% at 18150 cr vs 16875 cr (QoQ), OPM at 17% vs 19.1% (QoQ), PAT down 3% at 8120 cr vs adjusted PAT of 8380 cr ((QoQ)).

GRMs expected to be largely flat QoQ at 6.35 $/bbl vs 6.3 $/bbl in Q1

Important to understand whether Jio results will be good like Bharti Airtel

Jio revenue expected to be up 5% at Rs 17375 cr vs Rs 16557 cr (QoQ), Revenue growth to be driven  by 2.9% subscriber growth and 1.9% price increase, ARPU can be up 2% at Rs 143.5 vs 140.3, Jio subscriber additions seen at 10.5-12.2 mn subscribers vs 9.9 mn subscribers QoQ.

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Reliance Retail

Reliance Retail has raised Rs 37700 Cr For 8.55% Stake from 7 investors so far valuing Retail Business of Reliance at Rs 4.3 Lk Cr. Retail business is expected to improve QoQ due to relaxation in lockdown. QoQ Rev growth seen at 20.5-22.5% with EBITDA Growth of 51-54%