Result Analysis Reliance Industries Limited Q1FY24

Reliance Industries Limited (RIL) is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It operates in multiple industries, including refining and petrochemicals, oil and gas exploration and production, retail, telecommunications, and media. The company is a diversified conglomerate with a significant presence in India and a growing global footprint. Its focus on innovation, customer satisfaction, and sustainability has helped the company become a leader in multiple industries and continues to drive its growth and success.

Result Analysis: Reliance Industries Limited (CMP: Rs.2536.20)

Result Update: Q1FY24

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Results:

Particulars (In Rs. Cr.)	Q1FY24	Q4FY23	Q1FY23	QoQ%	YoY%
Revenue from Operations	2,10,831	2,16,265	2,22,664	-2.5%	-5.3%
Other Income	3,813	2,875	2,237	32.6%	70.5%
Total Income	2,14,644	2,19,140	2,24,901	-2.1%	-4.6%
Cost of materials consumed	95,809	1,04,031	1,30,528	-7.9%	-26.6%
Purchase of Stock-in-Trade	38,372	37,777	37,043	1.6%	3.6%
Changes in inventories	-2,513	-4,706	-20,890	-46.6%	-88.0%
Employee expense	6,601	6,464	5,999	2.1%	10.0%
Excise Duty	3,272	3,431	3,809	-4.6%	-14.1%
Other Expenses	31,197	30,912	28,418	0.9%	9.8%
EBITDA	38,093	38,356	37,757	-0.7%	0.9%
EBITDA Margin (%)	18.1%	17.7%	17.0%	40 bps	110 bps
Finance Cost	5,837	5,819	3,997	0.3%	46.0%
Depreciation & Amortisation expense	11,775	11,452	8,942	2.8%	31.7%
Profit Before Tax (PBT)	24,294	23,960	27,055	1.4%	-10.2%
Tax	6,112	2,754	7,591	121.9%	-19.5%
Exceptional Items-incomes/expenditure	76	21	-59	261.9%	-228.8%
Profit After Tax (PAT)	18,258	21,227	19,405	-14.0%	-5.9%
PAT Margin (%)	8.7%	9.8%	8.7%	-110 bps	0 bps
EPS (in Rs.)	23.66	28.52	26.54	-17.0%	-10.9%

Segment Revenue (In Rs. Cr.)	Q1FY24	Revenue %	Q4FY24	QoQ%	Q1FY23	YoY%
Oil to Chemicals (O2C)	1,33,031	51.7%	1,28,634	3.42%	1,61,715	-17.74%
Oil and Gas	4,632	1.8%	4,556	1.67%	3,625	27.78%
Retail	69,962	27.2%	69,275	0.99%	58,560	19.47%
Digital Services	32,077	12.5%	31,375	2.24%	28,512	12.50%
Others	17,827	6.9%	33,040	-46.04%	15,190	17.36%
Total	2,57,529	100.0%	2,66,880	-3.50%	2,67,602	-3.76%

Source: Company website, EWL Research

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