1. Homepage
  2. Equities
  3. India
  4. NSE India Stock Exchange
  5. Reliance Industries Ltd
  6. News
  7. Summary
    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Reliance Industries : Financial performance for the quarter/nine months ended 31 Dec, 2021

01/21/2022 | 11:03am EDT

21st January 2022

CONSOLIDATED RESULTS FOR QUARTER ENDED 31ST DECEMBER, 2021

ROBUST OPERATIONAL AND FINANCIAL PERFORMANCE ACROSS ALL BUSINESSES

RECORD QUARTERLY CONSOLIDATED REVENUE AT 209,823 CRORE, UP 52.2% Y-O-Y

RECORD QUARTERLY CONSOLIDATED EBITDA AT 33,886 CRORE, UP 29.9% Y-O-Y

RECORD QUARTERLY CONSOLIDATED PROFIT AFTER TAX AT 20,539 CRORE, UP 37.9% Y-O-Y

RECORD QUARTERLY REVENUE FOR DIGITAL SERVICES AT 25,200 CRORE, UP 6.4% Y-O-Y

EBITDA FOR DIGITAL SERVICES CROSSED 10,000 CRORE MARK FOR THE FIRST TIME

RELIANCE RETAIL DELIVERED A LANDMARK QUARTER WITH ALL TIME HIGH REVENUE AND EBITDA

ADDED OVER 80,000 PEOPLE TO ITS WORKFORCE DURING 9 MONTHS

Registered Office:

Corporate Communications

Telephone

: (+91 22) 2278 5000

Maker Chambers IV

Maker Chambers IV

Telefax

: (+91 22) 2278 5185

3rd Floor, 222, Nariman Point

9th Floor, Nariman Point

Internet

:

www.ril.com; investor.relations@ril.com

Mumbai 400 021, India

Mumbai 400 021, India

CIN

:

L17110MH1973PLC019786

Page 1 of 30

STRATEGIC UPDATES (3Q FY22)

  • RIL signed MoU with the Government of Gujarat for a total investment of ₹ 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct / indirect employment opportunities in the State. The above investment is aimed to make Gujarat net zero and carbon free over the span of 10 to 15 years to set up 100 GW Renewable Energy Power Plant and Green Hydrogen Eco-System development. RIL will develop an eco-system for assisting Small and Medium Enterprises (SMEs) and encourage entrepreneurs to embrace new technologies and innovations leading to captive use of Renewable Energy and Green Hydrogen.
  • RIL successfully priced fixed rate senior unsecured notes for an aggregate amount of USD 4 billion - largest ever foreign currency bond issuance from India, across three tranches in compliance with

Regulation S and Rule 144A under the U.S. Securities Act of 1933, as amended (the "US Securities Act"). The proceeds from the issuance of the Notes will be utilised primarily for refinancing of existing borrowings, in accordance with applicable law.

  • Reliance Jio Infocomm Limited ("RJIL"), a subsidiary of the Company has paid ₹ 30,791 crore (including accrued interest) to the Department of Telecom towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right to use with Bharti Airtel Limited. These liabilities were due in annual instalments from FY 2022-23 to 2034-2035 and carried interest rate between 9.30% to 10% p.a. with an average residual period of 7+ years. It is estimated that the above prepayments will result in interest cost savings of around ₹ 1,200 crore annually, at the current interest rates.

Registered Office:

Corporate Communications

Telephone

: (+91 22) 2278 5000

Maker Chambers IV

Maker Chambers IV

Telefax

: (+91 22) 2278 5185

3rd Floor, 222, Nariman Point

9th Floor, Nariman Point

Internet

:

www.ril.com; investor.relations@ril.com

Mumbai 400 021, India

Mumbai 400 021, India

CIN

:

L17110MH1973PLC019786

Page 2 of 30

  • RIL received ₹ 26,465 crore towards second and final call of ₹ 628.50 per Rights Equity Shares (including a premium of ₹ 623.50 per share) during the quarter. RIL has received ₹ 53,011 crore in aggregate under the rights issue post receipt of the Second and Final Call from the shareholders and as on December 31, 2021, an amount of ₹ 113 crore was receivable towards call money. There is no deviation in use of proceeds from the objects stated in the Offer document for rights issue.
  • RIL and Abu Dhabi Chemicals Derivatives Company RSC Ltd ("TA'ZIZ") have agreed to set up 'TA'ZIZ EDC & PVC', a world-scale chemical production partnership at the TA'ZIZ Industrial Chemicals Zone in Ruwais (a joint venture between Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi Developmental Holding Company PJSC (ADQ)). The new joint-venture will construct and operate a Chlor-Alkali, Ethylene Dichloride (EDC) and Polyvinyl Chloride (PVC) production facility, with an investment of more than USD 2 billion. The project builds on ADNOC and Reliance's long-standing strategic partnership and is Reliance's first investment in the Middle East North Africa (MENA) region.
  • During the Quarter, Reliance New Energy Limited ("RNEL"), (formerly known as Reliance New Energy Solar Limited) a wholly owned subsidiary of RIL:
    1. has signed definitive agreements (i) to acquire 100% shareholding in Faradion Limited ("Faradion") for an enterprise value of GBP 100 million and (ii) to invest GBP 25 million as growth capital to accelerate commercial roll out. Faradion is one of the leading global battery technology companies. The sodium-ion technology developed by Faradion provides a leading energy storage and battery solution which is safe, sustainable, provides high energy density and is significantly cost competitive.
    2. has acquired 25.16 % of Sterling and Wilson Renewable Energy Limited (SWREL) (formerly

Sterling and Wilson Solar Limited), a company listed on the BSE and NSE by way of subscription

Registered Office:

Corporate Communications

Telephone

: (+91 22) 2278 5000

Maker Chambers IV

Maker Chambers IV

Telefax

: (+91 22) 2278 5185

3rd Floor, 222, Nariman Point

9th Floor, Nariman Point

Internet

:

www.ril.com; investor.relations@ril.com

Mumbai 400 021, India

Mumbai 400 021, India

CIN

:

L17110MH1973PLC019786

Page 3 of 30

to preferential offer and secondary purchase from the existing promoters for an aggregate consideration of ₹ 1,790 crore. RNEL will further acquire 4.47% which have been tendered in the open offer and 10.37% from existing promoters for a further aggregate consideration of ₹ 1,055 crore. RNEL will finally hold 40% in SWREL. SWREL is a one of the leading international EPC and O&M service provider in the solar sector and will complement Reliance's proven strength in digital technology, engineering and procurement and project execution.

  • Reliance Retail Ventures Limited ("Reliance Retail"), a wholly owned subsidiary of Reliance Industries
    Limited (RIL), has invested USD 200 million for 25.8% stake on a fully diluted basis in Dunzo, India's leading quick commerce player. The capital will be used to further Dunzo's vision to be the largest quick commerce business in the country. Dunzo will enable instant delivery of essentials from a network of micro warehouses while also expanding its B2B business vertical to enable logistics for local merchants in Indian cities. Dunzo will also enable hyperlocal logistics for the retail stores operated by
    Reliance Retail, further adding onto Reliance Retail's omni-channel capabilities and facilitate last mile deliveries for JioMart's merchant network.
  • Reliance Eagleford Upstream Holding, LP ("REUHLP") a wholly owned step-down subsidiary of RIL, signed the agreements with Ensign Operating III, LLC ("Ensign"), a Delaware limited liability company to divest its interest in certain upstream assets in the Eagleford shale play of Texas, USA. With this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America.
  • Reliance Industrial Investments and Holdings Limited ("RIIHL"), a wholly owned subsidiary of RIL, entered into an agreement to acquire 73.37% stake in Mandarin Oriental New York, one of the premium

Registered Office:

Corporate Communications

Telephone

: (+91 22) 2278 5000

Maker Chambers IV

Maker Chambers IV

Telefax

: (+91 22) 2278 5185

3rd Floor, 222, Nariman Point

9th Floor, Nariman Point

Internet

:

www.ril.com; investor.relations@ril.com

Mumbai 400 021, India

Mumbai 400 021, India

CIN

:

L17110MH1973PLC019786

Page 4 of 30

luxury hotels in New York City for an equity consideration of approximately USD 98.15 million. This acquisition will add to the consumer and hospitality footprint of the group.

  • The Board of Directors of RIL has decided to implement a Scheme of Arrangement between (i)
    Reliance Industries Limited ('the Company' / 'RIL') and its shareholders and creditors; and (ii) Reliance
    Syngas Limited ('RSL') and its shareholders and creditors ('the Scheme') to transfer Gasification Undertaking of the Company to RSL (a wholly owned subsidiary of the Company) as a going concern on slump sale basis for a lump sum consideration equal to the carrying value of Gasification Undertaking as on the Appointed Date. The Scheme is subject to necessary statutory / regulatory approvals under applicable laws including approval of National Company Law Tribunal (NCLT).

Registered Office:

Corporate Communications

Telephone

: (+91 22) 2278 5000

Maker Chambers IV

Maker Chambers IV

Telefax

: (+91 22) 2278 5185

3rd Floor, 222, Nariman Point

9th Floor, Nariman Point

Internet

:

www.ril.com; investor.relations@ril.com

Mumbai 400 021, India

Mumbai 400 021, India

CIN

:

L17110MH1973PLC019786

Page 5 of 30

Disclaimer

Reliance Industries Ltd. published this content on 21 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 January 2022 16:02:00 UTC.


ę Publicnow 2022
All news about RELIANCE INDUSTRIES LTD
05/16Reliance Reportedly to Acquire Dozens of Brands in $6.5 Billion Consumer Goods Play
CI
05/16Reliance Reportedly to Acquire Dozens of Brands in $6.5-Billion Consumer Goods Play
CI
05/13Indian shares end lower on SBI slump
RE
05/13Indian shares track broader Asian stocks higher; Reliance jumps
RE
05/12Indian shares fall over 2%, rupee hits record low ahead of inflation data
RE
05/11Indian shares hit two month-low as oil prices rise; U.S. inflation data in focus
RE
05/09Reliance Brands Becomes Official Retailer Partner of Italian Luxury Brand Tod's in Indi..
MT
05/09Indian Indices End in Red; Reliance Industries Tops Drag
MT
05/09Indian Benchmarks Extend Losses as Session Ends
MT
05/09Indian shares end lower, rupee hits record low on global economic growth fears
RE
More news
Analyst Recommendations on RELIANCE INDUSTRIES LTD
More recommendations
Financials
Sales 2022 7 033 B 90 490 M 90 490 M
Net income 2022 609 B 7 835 M 7 835 M
Net Debt 2022 1 387 B 17 851 M 17 851 M
P/E ratio 2022 27,8x
Yield 2022 0,33%
Capitalization 16 124 B 207 B 207 B
EV / Sales 2022 2,49x
EV / Sales 2023 1,98x
Nbr of Employees 236 334
Free-Float 50,3%
Chart RELIANCE INDUSTRIES LTD
Duration : Period :
Reliance Industries Ltd Technical Analysis Chart | RELIANCE | INE002A01018 | MarketScreener
Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 33
Last Close Price 2 538,35 INR
Average target price 2 812,73 INR
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Savithri Parekh Secretary & Compliance Officer
Dipak Chand Jain Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
RELIANCE INDUSTRIES LTD6.80%220 871
EXXON MOBIL CORPORATION50.53%388 017
CHEVRON CORPORATION48.30%341 936
BP PLC27.46%101 479
CHINA PETROLEUM & CHEMICAL CORPORATION8.54%74 500
SUNCOR ENERGY INC.55.20%54 121