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RIL June 2013 Results in Charts

Pictures tell you a story. Let’s look at the Reliance Results for their story.

Revenues Fall Year on Year, Profits up 20% on a Lower Base

RIL Revenues and Profit, June 2013: Capital Mind

None of the Segments Did Really Well

RIL Segment Results: Capital Mind

Has Oil Production Bottomed?

Reliance Oil Production: Capital Mind

Refining Margins Threatened Yet Again

Reliance GRM : Capital Mind

However, the dollar depreciation would have helped. But they hedge a substantial portion of this  – nearly 127,000 cr. of it last year.

Petrochem Production Falls to Lowest Since March 2011

Reliance Petrochem Production: Capital Mind

They have a Lot of Debt, and Even More Cash

RIL Cash and Debt: Capital Mind

EPS Growth “Slows” A Little Bit

Reliance EPS Growth: Capital Mind

Earnings Per Share for the last 12 months is Rs. 67.6. At 923, the stock quotes at a P/E of 13.65. This is a reasonably small P/E. Their retail stores are doing reasonably and they’re making more noises about Jio Infocomm (their large LTE/4G venture).

The story on the primary business end is dying; but will Reliance, with it’s massive cash hoard, pull things out of its hat?

Disclosure: No positions, and wondering if it’s a good time to buy.

  • DD says:

    Rich valued for a conglomerate. Rich valued for a commodity guy. But there is that insane cash hoard and universal faith that, come what may, the Ambanis can “manage” the policy environment.

  • Krish says:

    It is neither best revenue nor record profit. Did not understand why market is cheering the results. Be it Bajaj, TCS or Reliance, the bottomline improvement is due to rupee depreciation than the company efforts. I am not sure what to say. But RBI monitory policies, govt budget and taxation and currency movement are becoming the crucial factors in balance sheet rather than company performance. This is akin to drugs playing a major role in sportperson performance than his own practice and coaching.

  • Aravind says:

    May be cost of debt is less than the interest rate they earn on short term deposits. Just check the sources of debt and interest on it.

  • Ramesh says:

    I have just graduated from a management institute and one of the recruiters on campus was the new strategic cell of Reliance. It is headed by an ex-partner of a prominent consulting firm and is being staffed with people who have competent looking credentials. As someone put it, this will function like the PMO for Reliance. By the by Reliance has a venture fund too (which also came recruiting) but I think it has been around for some time and I wonder what it does. Time will tell if these two entities help Mukesh pull something out of the hat, sooner or later.