News

– RIL’s Oil and Gas EBITDA is likely to decline from last year due to a natural fall in the KGD-6 production.

– EBITDA is seen 10% lower on year-on-year basis to ₹5,059 crore, according to Jefferies. On a sequential basis, the EBITDA figure is seen 1.2% lower.

– Market drill-down shows RIL has commenced selling modules externally

– By FY30E, entire New Energy to add 50%-plus to consolidated PAT

– Further integration into wafers, polysilicon, etc to add upside potential.

– Maintain buy rating with price target of ₹1,801

34 out of the 37 analysts who have coverage on Reliance Industries have a “buy” recommendation on the stock.

One analyst has a “hold” rating, while two others have a “sell” recommendation.

Bloomberg consensus projects a potential upside of 7% on the stock.

– Maintain buy rating

– Price target of ₹1,690

– Forecast a 3-year consolidated EBITDA CAGR of 16% for Jio Platforms (JPL), valuing business at an EV of $135bn; contribution of factors other than tariff hikes to this growth is 6-7% CAGR.

– Pertinently, believe that healthy growth rates are sustainable & sector is still far from going low/ex-growth, as is case in more mature markets

Q1FY26E: ₹44,965 crore

Q4FY25: ₹43,832 crore

Q3FY25: ₹43,789 crore

Q2FY25: ₹39,058 crore

Q1FY25: ₹38,765 crore

Q4FY24: ₹47,150 crore

Q3FY24: ₹44,678 crore

Q2FY24: ₹44,867 crore

Q1FY24: ₹41,982 crore

O2C, digital and retail to see strong growth, which will be offset by weak E&P

O2C to increase by 19% yoy (up 3.5% qoq on likely better margins, partly offset by refinery shutdown)

Jio ARPU is expected to rise 1% QoQ

Retail Business EBITDA expansion on the back of JioMart scale-up, operating leverage and increasing footfalls

Reliance Industries’ operating profit margin is likely to grow by nearly 200 basis points from the previous quarter to 18.7%.

Net profit for the quarter is likely to increase by 16% from the previous quarter to ₹22,024 crore.

A CNBC-TV18 poll expects Reliance Industries to report a 8% decline in its topline to ₹2.41 lakh crore.

Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) may increase by 3% on a quarter-on-quarter basis to ₹44,965 crore.

Shares of Reliance Industries recovered from the lows of the day to end flat ahead of the results announcement.

The stock ended at ₹1,476 and has gained 3.2% in the last one month.

So far in 2025, shares have risen 21%.

Reliance Jio is expected to report modest sequential growth in revenue and profitability for the first quarter of FY26, driven by a steady increase in subscriber additions and a marginal improvement in average revenue per user (ARPU), according to a CNBC-TV18 poll estimate.

here

here

Reliance Retail, a unit of Reliance Industries Ltd., on Friday announced the acquisition of iconic home appliances brand Kelvinator, in a bid to dominate India’s booming consumer durables market.

here

34 out of the 37 analysts who have coverage on Reliance Industries have a “buy” recommendation on the stock.

One analyst has a “hold” rating, while two others have a “sell” recommendation.

Bloomberg consensus projects a potential upside of 7% on the stock.

– Market drill-down shows RIL has commenced selling modules externally

– By FY30E, entire New Energy to add 50%-plus to consolidated PAT

– Further integration into wafers, polysilicon, etc to add upside potential.

– Maintain buy rating with price target of ₹1,801

– Maintain buy rating

– Price target of ₹1,690

– Forecast a 3-year consolidated EBITDA CAGR of 16% for Jio Platforms (JPL), valuing business at an EV of $135bn; contribution of factors other than tariff hikes to this growth is 6-7% CAGR.

– Pertinently, believe that healthy growth rates are sustainable & sector is still far from going low/ex-growth, as is case in more mature markets

– Entering into an exciting period beginning with Q1 FY26 earnings

– Expect to see notable improvements in KPIs across key businesses

– Expect Retail to resume its high-teens Ebitda growth & Jio may add c.9-10m subscribers during the quarter

– Reliance’s AGM in August or September should be an important event which may hold hints for an upcoming Jio IPO, as well as announcements on scaling up in quick commerce, FMCG and new energy

Shares of Reliance Industries recovered from the lows of the day to end flat ahead of the results announcement.

The stock ended at ₹1,476 and has gained 3.2% in the last one month.

So far in 2025, shares have risen 21%.

– Reliance should see better earnings growth hereon driven by its consumer businesses

– Valuations relative to other telecom / retail companies are modest, in our view

– Q1 FY25: ₹75,630 crore

– Q2 FY25: ₹76,325 crore

– Q3 FY25: ₹90,351 crore

– Q4 FY25: ₹88,637 crore

Reliance Retail Footprint at 19,340 Stores

Digital and New Commerce contribute 18% of total revenue

Own Brands business grew by 30% YoY in Q4

– Growth in Reliance Consumer Brands

– Reliance Consumer Brands achieved 11450 Crore sales in FY25

– Aggressive Footprint Expansion by Campa

– Imp to track growth in: Tira, Yousta and Swadesh

– Growth to be aided by favorable base

– Completion of strategic recalibration of store network

– Expect net addition of 225-250 stores QoQ

– Revenue per square feet for core business could grow ~18-20% YoY

– Operating leverage & better revenue per square feet should support margins

– Revenue seen 16% higher from last year at ₹87,800 crore

– EBITDA seen 18% higher year-on-year to ₹6,700 crore

– EBITDA margin seen at 7.6% from 7.5% last year

– All numbers on a year-on-year basis and as per a CNBC-TV18 poll

– Q4 FY24 – 52.9%

– Q1 FY25 – 52.6%

– Q2 FY25 – 53.1%

– Q3 FY25 – 53.9%

– Q4 FY25 – 53.9%

– Jio ARPU seen at ₹208 from ₹206.2 in the previous quarter

– Subscriber count at the end of June at 497 million from 487.2 million

– Management shared that the full impact of the July 2024 tariff hike will be fully visible by Q1FY26

– Telecom companies are likely to benefit from an extra day in Q1 compared to Q4

– Revenue growth will be aided by a 2% increase in subscriber addition and a 1% increase in ARPU

– Jio appears to be gaining market share as per TRAI’s recent data

– Revenue seen 3% higher sequentially at ₹30,90 crore

– EBITDA seen at ₹16,600 crore from ₹16,188 crore

– EBITDA margin seen at 53.7% from 53.9% last year

– Net profit seen 5% higher at ₹6,675 crore from ₹6,642 crore

– All numbers set on a sequential basis and as per a CNBC-TV18 poll

– RIL’s Oil and Gas EBITDA is likely to decline from last year due to a natural fall in the KGD-6 production.

– EBITDA is seen 10% lower on year-on-year basis to ₹5,059 crore, according to Jefferies. On a sequential basis, the EBITDA figure is seen 1.2% lower.

O2C EBITDA is likely to increase by 13% from last year, but decline 1.9% on a sequential basis to ₹14,793 crore. This is according to a Jefferies estimate.

Throughput is estimated to be lower at 19.6 million tonnes, down 3% sequentially and 1% from last year, due to the refinery maintenance shutdown in April.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.