Reliance Industries Limited · NSE:RELIANCE
Reliance Industries — Q4 FY2019-20 Earnings Presentation
77 slides from Reliance Industries's earnings presentation, May 1, 2020
Slide 1: Cover letter to stock exchanges
May 1, 2020 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block Dalal Street Bandra-Kurla Complex, Bandra (East) Mumbai 400 001 Mumbai 400 051 Scrip Code: 500325 Trading Symbol: RELIANCE Dear Sirs, Sub: Presentation made to analysts on
Slide 2: 4Q FY 2019-20 Financial Results
4Q FY 2019-20 FINANCIAL RESULTS 30 April 2020
Slide 3: Reliance Foundation: Frontline Warrior in India's Fight against COVID-19
Reliance Foundation e A Frontline Warrior in “ge 2 India’s Fight against Ze > COVID-19 #CoronaHaaregalndiaJeetega
Slide 4: RF set up India's first COVID-19 Hospital in Record Time
RF set up India’s first COVID-19 Hospital in Record Time • Partnering with BMC, Reliance Foundation set up India’s first dedicated 100-bed COVID-19 hospital in Mumbai in just two weeks • Negative pressure rooms • All beds equipped with ventilators, pacemakers, dialysis machine and patient monitoring
Slide 5: Mission Anna Seva: Our service to those in need
Mission Anna Seva: Our service to those in need • RF launched Mission Anna Seva to support marginalized communities and frontline warriors across the nation • Daily-wage earners • Slum dwellers • Migrant workers • Urban service providers and factory workers • Residents of old-age homes and orphanage
Slide 6: Arming India's Frontline Warriors with PPEs
Arming India’s Frontline Warriors with PPEs • India’s Frontline Warriors need millions of PPEs to win the battle against COVID-19. • Reliance Industries Ltd swiftly established a unit in Silvassa to mass produce high-quality PPEs. The production is being ramped up to 1 lakh PPEs per day • In a paral
Slide 7: Rapidly Augmenting India's Testing Capabilities
Rapidly Augmenting India’s Testing Capabilities • The important of testing more to stay ahead of the spread of COVID-19 cannot be overstated • In an effort to expand India’s testing capabilities, Reliance Life Sciences has started testing since the last five weeks. • From zero per day, it is current
Slide 8: COVID-19: Employee and Family Welfare Initiatives
COVID-19: Employee and Family Welfare Initiatives Health Initiatives for Employees and Families ❑ Nationwide emergency response infrastructure - 24 hrs ❑ Daily COVID-19 Symptoms Checker to monitor health of employees and family members JioHealthHub video consultation Symptom checker Video Guidance ❑
Slide 9: Consumer Businesses
Consumer Businesses
Slide 10: Highlights – Digital Services
Highlights – Digital Services 11. Jio is now the Digital Lifeline of 388 million Indians ▪ Net addition of 17.5 million wireless subscribers during the quarter; churn retraces to 0.57% in 4QFY20 22. Customer engagement up significantly during lockdown with strong network performance ▪ Average per ca
Slide 11: Highlights – Retail
Highlights – Retail 1. Reliance Retail delivers yet another year of highest ever revenue and EBITDA 2. Growth well ahead of the market and competitive set across categories 3. Revenue and margin growth in tandem; Operating leverage and efficiencies drive strong EBITDA growth 4. Broad based performan
Slide 12: Retail - Growing Consistently & Profitably
Retail - Growing Consistently & Profitably Reliance Retail Revenue & EBITDA (In Rs Crore) 35% 2,621 3,245 3,616 7,573 10,415 11,784 CAGR 180,000 Number of Stores 12,000 56% 1,62,936 CAGR 7x 160,000 growth 14x 10,000 64% 140,000 130,566 growth CAGR 9,654 120,000 8,000 100,000 6,000 80,000 69,198 6,20
Slide 13: Three Pillars for Consumer Business Growth
Three Pillars for Consumer Business Growth Platforms Safety Customer for the First First future Superior Experience for customer while ensuring safety for all 12
Slide 14: Digital Services
Digital Services
Slide 15: Safety First
Safety First ➢ Social Distancing practiced and observed across various teams, businesses and communities ➢ Enabled teams for working round the clock to ensure connectivity needs while practicing and following all protocols ➢ Ensuring all employees take the RF Covid tool symptom checker test every da
Slide 16: Network Performance Sustains At Scale
Network Performance Sustains At Scale 100% Network Service Availability ➢ Capacity management remains a priority as traffic surged upto 17 cr GB per day ➢ RF Capacity optimization ➢ Backhaul IP link augmentation ➢ Caching & Peering links upgradation ➢ Network automation as advantage as physical move
Slide 17: High User Engagement
High User Engagement 11.3 GB 770 Mins ~5 Hours 428 Cr > 70% Data / User / Month VoLTE Voice Daily Time Spent / User GB/ Month Data Data Traffic Used for Consumption / User / Traffic Video Combined for smartphone Month and JioPhone users Unmatchable Core Foundation of our Digital Connectivity Platfor
Slide 18: Relentless Customer Focus
Relentless Customer Focus ➢ Customer Offers ➢ Enabling Work From Home, Learn From Home & Health at Home for all ➢ Microsoft's collaboration platform – Work, Learn, Health with Microsoft Teams ➢ Double data & additional offnet minutes provided to all mobility add-on pack users ➢ JioFiber subscribers
Slide 19: Innovation: Jio POS-lite
Innovation: Jio POS-lite Creating a completely new pool of entrepreneurs who can serve their micro-communities as Jio channel partners, for recharges & new acquisitions Innovating to create entrepreneurs…. 18
Slide 20: Innovation: Mobile-based remote Call Centers
Innovation: Mobile-based remote Call Centers 100% migration of Central Call Center agents to distributed Work From Home 19
Slide 21: Virtual Meet from Home
Virtual Meet from Home ❖ Use JioMeet App on any device or OS ❖ Multimedia collaboration ❖ Connect with Colleagues…for meetings, collaborative work, design sessions… ❖ Connect with Family & Friends 20
Slide 22: Virtual Learn from Home
Virtual Learn from Home ❖ JioMeet as an integrated component within Jio eEducation Platform ❖ Students & Teachers attend virtual classroom ❖ Recorded class sessions and notes ❖ Assign and submit Homework and assignments ❖ Time-bound tests ❖ Multimedia elearning content for teachers to use in virtual
Slide 23: Virtual Health from Home
Virtual Health from Home ❖ JioMeet as an integrated component within Jio eHealth Platform ❖ Consult Doctor virtually ❖ Digital waiting rooms for doctor productivity ❖ Get prescriptions online ❖ Order medicines online ❖ Order lab tests online 22
Slide 24: In just a few days...
In just a few days... @ siomeetPro 23
Slide 25: Retail
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Slide 26: 4Q FY20 - Operating Context
4Q FY20 - Operating Context ➢ Emergence of NCOVID19 situation significantly impacts business this quarter ➢ Closure of stores from 14th March particularly malls ➢ Full closure of non-grocery stores and e-tailing from 22nd March ➢ Grocery stores continued operations with limitations and logistical ch
Slide 27: Key Enablers: Retail
Key Enablers: Retail Safety First ➢ Enhancing Safety & Hygiene standards and workplace practices for offices, stores and operations Customer First ➢ Ramp-up Customer Reach by leveraging Jio and Reliance Retail customer ecosystem ➢ Build Own Brand Portfolio in emerging (post COVID) categories Platfor
Slide 28: Jio Physical + Digital Platforms = Total Ecosystem solutions
Jio Physical + Digital Platforms = Total Ecosystem solutions Entertainment Customers Manufacturing 1. Consumers 2. Merchants/ SMBs Payments & Finance 3. Enterprises Smart Cities New Commerce Agriculture 1 Pan-India Network Education 6 Deep Geo Presence Healthcare i. 4G LTE -> 5G i. Jio Centers ii. W
Slide 29: Financials – Digital Services
Financials – Digital Services
Slide 30: Robust Financial Performance
Robust Financial Performance Operating Revenue (in Rs crore) EBITDA (in Rs crore) 6,201 14,835 5,601 13,968 5,166 12,383 13,130 11,715 4,686 4,329 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 Mar-19 Jun-19 Sep-19 Dec-19 Mar-20 ➢ Strong customer traction and partial impact of recent tariff hike drives double-d
Slide 31: Full Year Performance
Full Year Performance Revenue and profitability trends Rs crore 60,000 54,316 42% 39.9% 40% 40,663 40,000 37.1% 38% 20,154 21,654 36% 20,000 15,102 33.6% 6,765 34% 0 32% FY18 FY19 FY20 Op Revenue EBITDA EBITDA Margin (%) RHS ➢ Revenue CAGR of 64% and Ebitda CAGR of 78% during FY18 to FY20 ➢ Net prof
Slide 32: Key Operating Metrics – RJIL Standalone
Key Operating Metrics – RJIL Standalone ➢ Net subscriber addition at 17.5 million ➢ Churn retraces to 0.57% after a spike in 3QFY20 led by elimination of heavy voice users ➢ Per capita usage healthy at 11.3 GB and 771 mins per month; 20-25% increase in wireless data traffic post lockdown Customer Fi
Slide 33: Key Financial Metrics – RJIL Standalone
Key Financial Metrics – RJIL Standalone ➢ Sequential revenue growth led by continued subscriber addition and partial impact of tariff hike ➢ EBITDA improves further with operating leverage, higher ARPU and improving traffic mix ➢ Quarterly net profit up 178% YoY to Rs 2,331 crore *Gross Revenue is v
Slide 34: Financials – Retail
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Slide 35: Growing Consistently & Profitably
Growing Consistently & Profitably Reliance Retail Revenue & EBITDA (In Rs Crore) 35% 2,621 3,245 3,616 7,573 10,415 11,784 CAGR 180,000 Number of Stores 56% 12,000 1,62,936 CAGR 7x 160,000 growth 14x 10,000 64% 140,000 130,566 growth CAGR 9,654 120,000 8,000 100,000 Revenue PBDIT 6,000 80,000 69,198
Slide 36: FY20 - Revenue Performance
FY20 - Revenue Performance In Rs Crore Change % Growth Consumption Basket FY20 % Mix Y-o-Y Y-o-Y Consumer Electronics 44,625 27% 5,440 14% Fashion & Lifestyle 13,552 9% 2,624 24% Grocery 34,601 21% 11,187 48% Connectivity 55,944 34% 12,208 28% Petro Retail 14,215 9% 912 7% Total 162,936 100% 32,370
Slide 37: FY20 - EBITDA Performance
FY20 - EBITDA Performance In Rs Crore Change % Growth Consumption Basket FY20 % Mix Y-o-Y Y-o-Y Consumer Electronics 2,785 29% 930 47% Fashion & Lifestyle 3,242 33% 1,059 52% Grocery 2,253 23% 1,116 98% Connectivity 1,237 13% 346 39% Petro Retail 136 2% 1 1% Total 9,654 100% 3,453 56% Note: Positive
Slide 38: Reliance Retail – Indian Retailer with Global Scale
Reliance Retail – Indian Retailer with Global Scale Reliance Retail Ranking – Global Powers of Retailing # 56 2020 Fastest Growing Retailer # 94 in the World (2020) 2019 1 # 189 2018 * Global Powers of Retailing, Deloitte 2020 Only Indian Retailer to feature in the Global Top 100 Retailers 37
Slide 39: Results Highlights
Results Highlights All Figures in Rs Crore % Change wrt % Change wrt 4QFY20 4QFY19 Metric FY20 FY19 4QFY19 FY19 38,211 36,663 4% Segment Gross Revenue 162,936 1,30,566 25% 34,402 32,619 5% Segment Net Revenue 146,272 116,357 26% 2,556 1,923 33% Segment EBITDA 9,654 6,201 56% 7.4% 5.9% +150 bps Segme
Slide 40: 4Q FY20 - Revenue Performance
4Q FY20 - Revenue Performance In Rs Crore % Growth Change % Growth Consumption Basket 4Q FY20 % Mix Y-o-Y Y-o-Y Y-o-Y (Jan – Feb) Consumer Electronics 6,198 16% -4,655 -43% 41%* Fashion & Lifestyle 3,292 9% -10 0% 42% Grocery 10,043 26% 3,058 44% 35% Connectivity 15,193 40% 3,182 26% 32% Petro Retai
Slide 41: 4Q FY20 - EBITDA Performance
4Q FY20 - EBITDA Performance In Rs Crore Change % Growth Consumption Basket 4Q FY20 % Mix Y-o-Y Y-o-Y Consumer Electronics 431 17% -111 -21% Fashion & Lifestyle 975 38% 280 40% Grocery 783 31% 404 107% Connectivity 337 13% 73 28% Petro Retail 30 1% -13 -30% Total 2,556 100% 633 33% Note: Positive im
Slide 42: Readying the Business for a Post NCOVID19 world
Future Readying the Business for a Post NCOVID19 world 1 Enhancing safety & hygiene standards and workplace practices for offices, stores and operations 2 Re-imagining the store in a post NCOVID19 world 3 Strengthening Digital Commerce and Omnichannel capabilities 4 Bolstering supply chain/fulfilmen
Slide 43: JPL + Facebook Strategic partnership
JPL + Facebook Strategic partnership
Slide 44: Transaction Summary
Transaction Summary 1 Definitive documentation finalized for: Strategic investment of ₹ 43,574 crore by Facebook into Jio Platforms Limited a for a 9.99% stake b Partnership between WhatsApp Inc, Jio Platforms Limited and Reliance Retail Limited 2 Pre-money Enterprise Valuation of Jio Platforms Limi
Slide 45: Strategic Investment Overview
Strategic Investment Overview • Jio Platforms valued at ₹ 4.36 lakh crore equity value, ~90% following the transaction; pre- 9.99% Jio Platforms Limited money equity value of ₹ 4.21 lakh crore MyJio Jio TV Jio TV+ Jio News Jio Cloud Jio Call Jio Chat Jio Security Jio Jio • Investment Amount: ₹ 43,57
Slide 46: O2C and Upstream Businesses
Q Reliance Industries Limited O2C and Upstream Businesses
Slide 47: R & M – Operating Environment 4Q FY20
R & M – Operating Environment 4Q FY20 ➢ Covid-19 negatively impacted economic growth and oil demand 20 3Q FY 2020 4Q FY 2020 15.4 12.9 13.9 15 11.9 ▪ World GDP growth (2020) @-3%, India @1.9% 10 6.7 8.5 5 ▪ Oil demand(Apr-May’20): estimated to fall by 25-30 mb/d 0 -5 -2.2-2.9 ➢ Crude price fell 73%
Slide 48: R & M Segment Performance – 4Q FY20
R & M Segment Performance – 4Q FY20 ➢ Stable QoQ performance led by favourable crude differentials, 10,000 9.2 10 lower fuel cost 8.9 8.2 8,000 ▪ Optimized crude basket cost by sourcing competitive 6,808 6,614 feedstock taking advantage of processing flexibility 6,000 5,239 5 ▪ Product switch to bet
Slide 49: R & M Segment Performance – FY20
R & M Segment Performance – FY20 ➢ EBITDA down 6% YoY 40,000 9.2 8.9 10 ▪ Weak light / middle distillate cracks, demand 30,000 compression 26,050 24,461 20,000 5 ▪ Limited impact of IMO 2020 on middle distillate cracks ➢ Premium over Singapore at $ 5.7/bbl 10,000 ➢ Crude throughput maximized at 70.6
Slide 50: Petrochemicals – Operating Environment 4Q FY20
Petrochemicals – Operating Environment 4Q FY20 ➢ China affected severely by Covid in Jan and Feb’20 ▪ Impacted feedstock and product prices negatively by 25-30% and margins ➢ Integrated Polyester Chain margin improved QoQ by $70 to $529/ MT – trending back towards 5-year average ➢ Margins expanded i
Slide 51: Petrochemicals Segment Performance – 4Q FY20
Petrochemicals Segment Performance – 4Q FY20 ➢ EBITDA down 18% QoQ with significant price volatility 22.0 and demand collapse 12,000 24 20.0 18.0 ➢ Production volumes at 9.8 MMT, near record levels 9,346 9,000 18 7,239 ➢ Optimized feedstock flexibility across locations to benefit 5,938 6,000 12 from
Slide 52: Petrochemicals Segment Performance – FY20
Petrochemicals Segment Performance – FY20 ➢ FY20 EBITDA down 18% YoY with low margin across key 50,000 22.0 24 products 21.0 40,000 37,866 ▪ Significant supplies in weak demand environment (PE, 18 30,933 PP, PX, PTA, MEG) 30,000 12 ➢ Segment performance was supported by 20,000 ▪ Feedstock flexibilit
Slide 53: Oil & Gas Segment – KG D6 Development Update
Oil & Gas Segment – KG D6 Development Update ➢ Priorities ▪ Safety of people ▪ Cost and cash outflow reduction ▪ Augmenting production through projects ➢ KG D6: Monetization of 3 TCFE resources ▪ 3 Projects- First Gas from R-Cluster Field expected by June 2020 subject to lifting of lockdown ▪ Achiev
Slide 54: Oil & Gas Segment Performance – 4Q FY20
Oil & Gas Segment Performance – 4Q FY20 ➢ 4Q FY20 domestic production 4.05 BCFe, down 64% QoQ 400 ▪ KG D6 production 0.9 MMSCMD 300 258 ➢ CBM production 0.97 MMSCMD 200 ▪ 250+ wells are flowing with steady production 100 64 ➢ Unit realisation at $ 6.1/MCFe, down 14% QoQ - ➢ US Shale production 26.3
Slide 55: Oil & Gas Segment Performance – FY20
Oil & Gas Segment Performance – FY20 ➢ EBITDA down 78% YoY ▪ Continuing weakness in realisation and declining volumes 1,800 1,642 1,500 ▪ US Shale production 87.8 BCFe, up 4% 1,200 ▪ Domestic production 38.8 BCFe, down 34% 900 ➢ D1-D3 field ceased production from 3rd Feb’20 due to natural 600 cessat
Slide 56: Consolidated Financial Results
Consolidated Financial Results 55
Slide 57: Consolidated EBITDA : 4Q FY20
Consolidated EBITDA : 4Q FY20 Change (₹ crore) 4Q FY20 4Q FY19 YoY O2C & Upstream ➢ Consumer businesses EBITDA grew by R&M 6,614 5,239 26.2% ₹ 2,570 crore, up 40% Petrochemicals 5,938 9,346 -36.5% ➢ O2C business EBITDA lower by ₹ 2,337 Oil & Gas -46 258 - crore, down 16% Sub Total 12,506 14,843 -15.
Slide 58: Consolidated Financial Results : 4Q FY20
Consolidated Financial Results : 4Q FY20 Change Change ➢ YoY Revenue decline led by weak commodity (₹ crore) 4Q FY20 3Q FY20 4Q FY19 QoQ YoY prices Revenue 151,209 169,098 155,151 -10.6% -2.5% ▪ Offset by robust growth in retail EBITDA 25,886 26,088 24,047 -0.8% 7.6% ▪ Subscriber additions and surge
Slide 59: Exceptional Item
Exceptional Item ➢ Inventory is valued at Cost or Market Value whichever is lower ➢ Oil prices dropped dramatically during the quarter – 73% fall through the quarter ➢ This resulted in non-cash inventory holding loss of ₹ 4,267 crore (net of taxes) across O2C business ➢ Crude price fall has been acc
Slide 60: Consolidated EBITDA : FY20
Consolidated EBITDA : FY20 (₹ crore) FY20 FY19 % change ➢ Consumer businesses grew by 49% YoY O2C & Upstream R&M 24,461 26,050 -6.1% ▪ Retail up 56% - New store roll-out and Petrochemicals 30,933 37,866 -18.3% high LFL growth Oil & Gas 353 1,642 -78.5% ▪ Digital services up 47% - Strong Sub Total 55
Slide 61: Financial Results : FY20 vs FY19
Financial Results : FY20 vs FY19 ➢ Turnover growth of 5% YoY led by (₹ crore) FY20 FY19 % change ▪ Strong growth in Retail - up 25% YoY to Revenue 659,205 625,212 5.4% ₹ 162,936 crore EBITDA 102,280 92,656 10.4% ▪ Digital services up 41% YoY to ₹ 68,462 crore Net Profit (Excl. Exceptional) 44,324 39
Slide 62: EBITDA Mix
EBITDA Mix FY2019 FY2020 4.9% 0.3% 3.1% 0.5% 17.0% 26.3% 28.9% 24.2% 6.9% 1.8% 10.4% 33.3% 42.0% 0.4% R&M Petchem E&P R&M Petchem E&P Organized retail Digital services Financial Services Organized retail Digital services Financial Services Others Others Consumer businesses now contribute 35.1% of co
Slide 63: Strategic Direction
Q Reliance Industries Limited Strategic Direction
Slide 64: Strategic Direction : Positioned for Strong Value Creation (1/2)
Strategic Direction : Positioned for Strong Value Creation (1/2) ➢ Proposed Rights Issue of equity shares ➢ ₹ 53,125 crore ➢ Maintained dividend at ₹ 6.50 per share for FY20 despite Covid-19 challenges ➢ Facebook-Jio Platforms transaction to be closed by end of this quarter ➢ ₹ 43,574 crore ▪ Achiev
Slide 65: Strategic Direction : Positioned for Strong Value Creation (2/2)
Strategic Direction : Positioned for Strong Value Creation (2/2) In addition ➢ Saudi Aramco due diligence is progressing well ▪ O2C filing with NCLT is underway ➢ Retail to scale up rapidly led by new commerce and pharmacy platform ▪ Significant interest from strategic and financial investors Partne
Slide 66: Consolidated Net Debt
Consolidated Net Debt (in ₹ Crore) Mar-20 Dec-19 Mar-19 S&P (BBB+, Stable) and Gross Debt 336,294 306,851 287,505 Moody’s (Baa2, Stable) reaffirmed investment grade Cash & cash 175,259 153,418 133,027 ratings equivalent Net Debt 161,035 153,433 154,478 Note: Net debt does not consider value of Treas
Slide 67: Proposed Rights Issue
Q Reliance Industries Limited Proposed Rights Issue
Slide 68: Terms of Rights Issue
Terms of Rights Issue ➢ Rights Issue priced at 1,257 per share with share ratio at 1:15. ▪ Issue amount Rs 53,125 crore ▪ 25% on application and balance in one or more calls 67
Slide 69: RIL - Well-positioned to Navigate Macro Headwinds
RIL - Well-positioned to Navigate Macro Headwinds ➢ Robust and resilient business model ▪ Diversified earnings streams – 35% of EBITDA from Consumer businesses ▪ Investment cycle completed – Stronger cost positions across products, reduced capex intensity ➢ Conservative Balance Sheet ▪ BBB+ rating,
Slide 70: New business models create disproportionate value
New business models create disproportionate value 10 Year Market Cap Growth in Technology Stocks v/s Aggregate Energy Sector Market Cap (S&P) 1200 1095 1029 1021 1000 800 US$ Billion 651 582 600 400 200 0 Amazon Apple Microsoft Google Agg. Current Mcap of S&P Energy Peers ➢ Asset-light technology co
Slide 71: RIL Valuation Multiples – Reflecting Transition in Model
RIL Valuation Multiples – Reflecting Transition in Model… P/E P/B EV/EBITDA P/E 5 Year Avg P/B 5 Year Avg EV/EBITDA 5 Year Avg 2.2 2.3 15 19.7 20.4 2.1 2.1 Jio Launch 20 2.1 Jio Launch 14 Jio Launch 17.1 1.9 1.7 13 12.5 14.5 15 1.7 11.6 11.6 11.4 12 11.3 11.0 1.5 1.2 11 10 1.3 1.2 9.2 10 9.3 1.1 9 5
Slide 72: Rationale for Rights Issue
Rationale for Rights Issue ➢ Global pandemic is reshaping the way the world lives and works ▪ Visible acceleration in Digital Services, heightened need for robust supply chain led New Commerce model ➢ Strong repositioning of company as Consumer/Technology company with Jio and Retail Platforms ▪ As n
Slide 73: Value accretive Rights Issue
Value accretive Rights Issue ➢ First Rights Issue by RIL in 3 decades ▪ Rights issue to ensure all investors get to participate at same level as promoters in upcoming opportunities ➢ Promoters to take-up their entitlement and all of the unsubscribed portion ▪ Promoter contribution demonstrates deep
Slide 74: Timing is Right
Timing is Right 1,650 Covid-19 160,000,000 Period ➢ On average Nifty 50 1,550 140,000,000 stocks are 35% below 1,450 120,000,000 their 52 week high 1,350 100,000,000 27 Apr, 2020 (Price – Rs. 1,429.8): ➢ Only 5 stocks are within Announcement of Board Meeting for Rights 1,250 Issue 80,000,000 10% of
Slide 75: Rights issue accretive for RIL shareholders
Rights issue accretive for RIL shareholders RIL P&L and EPS Rights Issue: Working for Issue Size and EPS Accretion Sr. (in Rs. crore) 19-20 Assumptions 1 PAT (with exceptional) 39,880 1 Rights Issues say, 1 share for every 15 shares of RIL 2 Exceptional Items -4,444 2 Cost of Borrowing (fully hedged
Slide 76: EPS Sensitivity to Issue Price
EPS Sensitivity to Issue Price % Discount to 8% 10% 12% 15% 20% Current Price Issue Price 1314 1284 1257 1212 1143 Issue Size (in Rs. Crore) EPS Accretion (%) Shares per 1 % Discount Shares per 1 % Discount share of RIL 8% 10% 12% 15% 20% share of RIL 8% 10% 12% 15% 20% 15 55,533 54,265 53,124 51,22
Slide 77: Growth is Life....
Q Reliance Industries Limited Growth is Life....
Reliance Industries — Q4 FY2019-20 Earnings Presentation on 6ix