18 Jul 2023 , 12:02 PM
Result date: 21st July, 2023
Recommendation: Buy
Target price: Rs. 2,712
Reliance Industries (RIL) is set to register a flattish quarter as 20% YoY fall in O2C EBITDA will be offset by E&P, retail and Jio, believe analysts at IIFL Capital Services. As such, on a sequential basis, while Jio and retail may grow 3%, O2C/E&P are set to remain flat. Revenue could come in at Rs. 22,29,997 million.
The stock price performance would be driven by news flow on Jio Financial Services demerger, and AGM, where the roadmap of new energy business is awaited.
| Rs. Million |
June 2023 estimates |
YoY change |
QoQ change |
| EBITDA |
397,694 |
5% |
3% |
| PAT |
170,462 |
(5)% |
(12)% |
Source: IIFL Research
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