Reliance: The behemoth rolls... - Views on News from Equitymaster

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Reliance: The behemoth rolls...

Jan 31, 2003

Refining and petrochemical giant, Reliance has reported strong numbers for 3QFY03. The topline of the company increased by nearly 7% to Rs 109 bn, driven by increased realisations (5%) and marginal growth in volumes (2%). The company's performance in the petrochemicals segments has been better as compared with its refining business and was driven by higher realisations. This was achieved owing to the company's thrust on speciality polymers which commands 15-18% premium over commodity prices.

(Rs m) 3QFY02 3QFY03 Change 9mFY02 9mFY03 Change
Net sales 102,660 109,730 6.9% 320,960 331,420 3.3%
Other Income 1,840 2,700 46.7% 5,770 6,750 17.0%
Expenditure 84,790 88,310 4.2% 262,130 267,950 2.2%
Operating Profit (EBDIT) 17,870 21,420 19.9% 58,830 63,470 7.9%
Operating Profit Margin (%) 17.4% 19.5%   18.3% 19.2%  
Interest 4,640 4,010 -13.6% 14,650 12,210 -16.7%
Depreciation 7,120 6,570 -7.7% 20,770 19,600 -5.6%
Profit before Tax 7,950 13,540 70.3% 29,180 38,410 31.6%
Extraordinary income 3,580 0   3,580 0  
Tax 2,800 2,710 -3.2% 8,670 8,380 -3.3%
Profit after Tax/(Loss) 8,730 10,830 24.1% 24,090 30,030 24.7%
Net profit margin (%) 8.5% 9.9%   7.5% 9.1%  
No. of Shares 1,053.8 1,396.0   1,053.8 1,396.0  
Diluted Earnings per share* 33.1 31.0   30.5 28.7  
P/E Ratio         9.6  
*(annualised)            

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