Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="19896380" type="General" weightage="20" keywordseo="reliance-industries" source="keywords">Reliance Industries</keyword> is expected to launch an IPO for <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> in 2025.</li><li>Reliance Retail is expected to go public after <keyword id="19906886" type="General" weightage="20" keywordseo="jio" source="keywords">Jio</keyword>, with no date fixed yet.</li><li>The <keyword id="7784314" type="General" weightage="100" keywordseo="reliance-jio-ipo" source="Orion">Reliance Jio IPO</keyword> will emerge as the country’s biggest IPO, beating the Hyundai IPO.</li></ul>Mukesh Ambani-led Reliance Industries is reportedly gearing up to launch the initial public offering (IPO) of its telecom arm, Reliance Jio in 2025. The telco will join its competitors, Bharti Airtel and Vi, which are already public. According to a<a href="https://www.reuters.com/world/india/ambanis-reliance-jio-ipo-set-2025-retail-debut-much-later-sources-say-2024-11-04/"> report</a> by Reuters, Reliance Jio is expected to go public in 2025 and the IPO for the retail arm is planned later. As per two sources familiar with the matter, <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> plans on sticking to the timeline he mentioned in 2019, where he said he will “move towards” listing in five years. <div type="Article" hostid="261" msid="114931927" title="October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow" mstype="2" mssubtype="0"></div> The company has firmed up plans of taking the telecom arm public as it feels the company has achieved a stable business and revenue stream. Jio is currently the biggest telecom operator in India, with over 471 million subscribers as of August 2024. Reliance Industries has raised over $25 billion for the company’s digital, telecom and retail businesses from investors like KKR, Abu Dhabi Investment Authority, General Atlantic and more. <h2>Reliance <keyword id="6059106" type="General" weightage="20" keywordseo="jio-ipo" source="Orion">Jio IPO</keyword> to be India’s biggest</h2>Existing rules state that companies that are valued at ₹1 lakh crore or more need to sell at least 5% of total shares during an IPO. Jio is currently valued at $112 billion (₹9.42 lakh crore) as per Jefferies. A 5% stake sale would put the IPO at around ₹47,100 crore, beating the recently concluded IPO of Hyundai Motor India, which raised ₹27,870.16 crore. <h2>Retail IPO further away</h2>While no timeline has been mentioned, the retail arm’s IPO has reportedly been pushed further away, as the company feels it needs to address internal business and operational challenges. Not only this, the company reportedly wants to avoid two big IPOs hitting the Dalal street in the same year. With Jio’s IPO planned for 2025, we might see the retail arm going public in 2026 or later. Reliance Retail operates over 3,000 supermarkets and also deals in the e-commerce segment. The company feels the retail arm has grown “too fast” and needs some stability before the IPO. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-swiggy-niva-bupa-health-insurance-and-more/slidelist/114937405.cms">Upcoming IPOs this week – Swiggy, Niva Bupa Health Insurance and more</a> <a href="https://www.businessinsider.in/business/auto/news/october-auto-sales-maruti-suzuki-and-tata-motors-report-a-decline-mahindra-continues-to-grow/articleshow/114931927.cms">October auto sales – Maruti Suzuki and Tata Motors report a decline, Mahindra continues to grow</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-13-announced-with-snapdragon-8-elite-6000mah-battery-and-more/articleshow/114842638.cms">OnePlus 13 announced with Snapdragon 8 Elite, 6,000mAh battery and more</a>

Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, under the leadership of <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, showcased its vision for the future during the company’s Annual General Meeting (AGM) that was held today (August 29). During the AGM, <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> laid out ambitious plans that span across its diverse businesses. The conglomerate, which has interests ranging from oil to telecom to retail, is positioning itself as a key player in India’s growth story, with a particular focus on <keyword id="20239522" type="General" weightage="20" keywordseo="technological-innovation" source="keywords">technological innovation</keyword>, energy security, and retail expansion. <h2>Not chasing short-term profits</h2><keyword id="19898589" type="General" weightage="20" keywordseo="ambani" source="keywords">Ambani</keyword>, during his speech, said that Reliance is not merely chasing short-term profits but is dedicated to creating long-term wealth for the nation. He reiterated the company’s commitment to providing high-quality products and services that enhance the lives of Indian consumers. The chairman announced that the company’s board will consider issuing bonus shares on September 5, further rewarding shareholders as Reliance continues to grow. <h2>Transforming into a deep-tech company</h2>A major theme of the AGM this year was Reliance’s transformation into a deep tech company, with advanced manufacturing capabilities at its core. Ambani described this shift as essential to securing a place in the global top-30 companies in the near future. He highlighted the company’s strategic adoption of artificial intelligence (AI), calling it one of the most transformative events in human history. AI, he noted, opens up new avenues to address complex problems, making Reliance a net producer of technology. Reliance has been making significant strides in R&amp;D, with over ₹3,643 crore invested in FY24 alone, taking the total research expenditure to over ₹11,000 crore in the last four years. This investment is driving innovations in various areas, including bio-energy, solar power, green energy, and high-value chemicals. The company has also been active in digital research, filing patents in 6G, 5G, AI, and IoT, among others. Ambani assured that this tech-driven transformation would propel Reliance into a new phase of hyper-growth, multiplying its value in the coming years. <h2><keyword id="20337020" type="General" weightage="20" keywordseo="retail-business" source="keywords">Retail business</keyword> to double</h2>In addition to technological advancements, Reliance Retail, the company’s retail arm, is set to double its business in the next three to four years. Isha Ambani, Director of Reliance Retail, shared that the retail segment recorded a gross revenue of ₹3.06 lakh crore for the financial year ending March 31, 2024, marking a 17.8% growth over the previous year. The retail business has rapidly expanded, with Reliance opening 1,840 new stores in the past year, bringing the total to 18,836 stores across 79 million square feet of retail space. This growth has positioned Reliance Retail among the top-5 global retailers in terms of store count and among the top-10 in market capitalization globally. Isha Ambani emphasised that much of this growth is driven by a focus on smaller towns, where two-thirds of the new stores have been opened. Reliance Retail is also focused on creating high-quality, affordable products through its Consumer Brands business, which has seen the re-launch of popular brands like Campa, Lotus Chocolates, and Sosyo. Mukesh Ambani concluded by underscoring Reliance’s mission to provide energy security to India while also contributing to a cleaner and greener world. As the global landscape becomes increasingly uncertain, he expressed confidence in India’s role as a key growth engine in the global economy. The International Monetary Fund (IMF) projects that India will become the world’s third-largest economy by 2027, surpassing Japan and Germany. Ambani affirmed that Reliance will continue to be a driving force in India’s march toward becoming a developed nation.

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

<ul><li><keyword id="617730" type="General" weightage="80" keywordseo="isha-ambani" source="Orion">Isha Ambani</keyword> says <keyword id="8506093" type="General" weightage="60" keywordseo="jiomart" source="Orion">JioMart</keyword> users on Whatsapp have grown by nine times since its launch in 2022.</li><li>Reliance has invested $10 billion in the past two years in its <keyword id="69318" type="General" weightage="50" keywordseo="retail-business" source="Orion">retail business</keyword>, focusing on building integration, growing in-house brands.</li><li>The company recently announced the launch of its youth-focused fashion retail format, Yousta</li></ul> <keyword id="58448" type="General" weightage="90" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> Ventures (RRVL), whose valuation recently doubled to Rs 8.28 lakh crore ($100 bn) from Rs 4.28 lakh crore in September 2020, after Qatar Investment Authority invested over Rs 8,000 crore in the company. The company will show the fastest growth in terms of revenue and EBITDA, said <keyword id="3820" type="General" weightage="70" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> at the conglomerate's 46th Annual General Meeting on Monday. EBITDA is Earnings before interest, taxes, depreciation, and amortization. “In less than three years, the valuation of Retail has almost doubled, notwithstanding the intervening Covid-19 pandemic. Based on this valuation, Reliance Retail, had it been listed, would have ranked among the Top 4 companies in India and Top 10 retailers globally,” said Ambani. Speaking at the AGM, Isha Ambani, director of RRVL, said that the business has doubled to Rs 8.28 lakh crore from Rs 4.28 lakh crore in September 2020 as global investors have shown tremendous interest in the business. Out of this, the digital and new commerce sales contributed nearly Rs 50,000 crore in the financial year ending March 2023. The company has reported that registered customers grew to nearly 25 crore, with over 78 crore footfalls in FY23. “ We have invested over USD 10 billion in the past two years, focusing on building integration, growing in-house brands, and improving supply chain networks,” said Isha Ambani. Fast moving consumer goods update Isha Ambani said that their new FMCG business has made a strong start through multiple brands and partnerships. “A key pillar of our FMCG business is to make heritage Indian brands contemporary. JioMart users on Whatsapp have grown by nine times since its launch in 2022,” she said. Reliance Retail forayed into the personal care categories in the FMCG space and also became the official retailer of GAP in India to serve the mid-premium segment. The business also expanded its product basket through acquisitions and partnerships at both local and global levels like Metro, Campa Cola, Pret A Manger, Lotus, Sosyo, Maliban, and Toffeeman among others. Reliance Retail has also entered into the beauty segment by the launch of omni-channel beauty platform which focuses on providing experiential retail services “Tira” and opening its flagship store in Mumbai. Most recently, the company announced the launch of its youth-focused fashion retail format, Yousta, with the opening of its first store in Hyderabad’s Sarath City Mall. This will be targeted at consumers in the age group of 15-25 years at affordable prices. Isha’s first love AJIO, which was launched by Isha Ambani in 2016, had yet another strong year, with its catalogue size crossing 13 lakh options. “We continue to be the partner of choice for international brands straddling premium, bridge-to-luxury, luxury, as well as Indian designer wear,” she said at the AGM.

Reliance Retail will grow fastest in terms of revenue, EBITDA, says Mukesh Ambani

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vodafone-idea-fpo-allotment-how-to-check-allotment-gmp-and-more/articleshow/109504341.cms" target="_blank">Vodafone Idea FPO allotment – How to check allotment, GMP and more</a><a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8a-may-be-more-expensive-than-its-predecessor-as-per-a-new-leak/articleshow/109499394.cms" target="_blank">Google Pixel 8a may be more expensive than its predecessor, as per a new leak</a><a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a>

Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

The Rs 260.04 crore IPO of <keyword id="23568743" type="General" weightage="20" keywordseo="Deepak-Builders" source="keywords">Deepak Builders</keyword> and Engineers, which went live yesterday, received a thumping response from <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>, who oversubscribed to the issue by 16x. In effect, retail investors bid for 7,20,24,282 shares as opposed to 44,83,500 shares, or 35% of the issue that is reserved for them. The issue, worth Rs 260.04 crore, is a combination of a fresh issue of about Rs 217.21 crore and an OFS (offer for sale) of Rs 42.83 crore. With a price band of Rs 192-203, the company will list on the bourses on Monday, October 28, 2024, with allotment finalization happening on Thursday, October 24, 2024. Retail investors can bid for a minimum of 1 lot, which consists of 73 shares. The minimum required investment to participate in this IPO is Rs 14,819, while the maximum is Rs 1,92,647. The company's last traded GMP (grey market premium) today was Rs 61. This takes its estimated listing price to Rs 264, and the expected listing gains at 30.05% per share. <h2>Should you invest?</h2> The company has a strong presence in northern India, with multiple projects across Punjab, Haryana, Rajasthan, Uttarakhand, Chandigarh, and Delhi. The company currently oversees twelve ongoing projects, including seven EPC (Engineering, Procurement, and Construction) projects and five contracts based on item or percentage rates. As of June 30, 2024, the company’s <keyword id="20162999" type="General" weightage="20" keywordseo="order-book" source="keywords">order book</keyword> totals Rs 13,803.89 million for FY 2024, up from Rs 11,126.88 million for FY23. The company's revenue from operations also went up from Rs 3,630.52 million in FY22 to Rs 5,114.02 million in FY24. Consequently, its PAT (profit after tax) jumped to Rs 604.1 million in FY24, up from Rs 213.95 million in FY23 and Rs 176.79 million in FY22. Its EPS (earnings per share), considered a reliable measure of profitability, also inched up substantially from 4.92 in FY22 to 16.84 in FY24. Per the company's prospectus, proceeds from the IPO will be used to repay borrowings, meet working capital requirements, and for other general corporate purposes. Financial analysts have recommended subscribing to the IPO for long-term investment, citing the company's steady <keyword id="20748625" type="General" weightage="20" keywordseo="financial-growth" source="keywords">financial growth</keyword> over the past few years. However, the issue is not without its share of risks. For instance, most of the company's projects are concentrated in Punjab. As of June 30, 2024, about 33.02% of the company's revenue from operations came from Punjab-based projects. Moreover, the company's finances have seen meteoric growth over the past few years, raising questions about its sustained continuity. While its EBITDA margin increased from 12.20% in FY 2023 to 22.98% in FY 2024 and 29.92% during the three-month period ended June 30, 2024. Similarly, their profit after tax margin increased from 4.94% in FY2023 to 11.81% in FY 2024 and 13.52% during the three-month period ended June 30, 2024. It Despite these concerns, Bajaj Broking and Anand Rathi's research both recommended subscribing to this IPO. "The company has a diversified project portfolio, which reduces its reliance on a single market segment. As of June 2024, the company has some litigations towards projects amounting to Rs 884 million (6% of the total order book). We believe that the liability of this should not impact the going concern of the company's profitability. With a strong order book, Deepak Builders has growth potential visibility in the infrastructure sector, which aligns them with government initiatives. At the upper price band, the company is valued at a P/E of 15.6x with a market cap of Rs 9,455 million post-issue of equity shares and a return on net worth of 52.9%. On the valuation front, we believe that the company is fairly priced. Thus, we recommend a “SUBSCRIBE” rating to the IPO," noted Anand Rathi.

Deepak Builders & Engineers IPO closes for subscription tomorrow. Here's all you need to know

<ul><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has reported its “best quarter ever” with its gross revenue crossing ₹58,000 crore mark for the second time this year.</li><li>However, the company’s profit has declined for the second consecutive quarter due to inflationary pressures.</li><li>The company reported a consolidated gross revenue of ₹2 lakh crore in the financial year 2022 that ended in March.</li></ul>Reliance Retail — a subsidiary of Reliance Industries Limited (RIL) — has reported its best quarter ever with its gross revenue crossing ₹58,000 crore (over $7 billion) mark once again in the April to June 2022 quarter. However, its net profit declined for the second time this year too, with high input costs weighing it down. Reliance Retail reported a gross revenue of ₹58,554 crore in the last three months, representing nearly 52% hike from the April-June quarter of last year. Its net profit stood at ₹2,061 crore, representing a hike of 114% from last year. “In the retail business, we continue to focus on enhancing our consumer touch-points and building a stronger value proposition for our customers. Our strong supply chain infrastructure and sourcing efficiency is helping us maintain competitive pricing for daily essentials, thereby insulating consumers from inflationary pressures,” Mukesh Ambani, chairperson and MD of Reliance Industries Limited (RIL) said. Even though its revenue increased by ₹537 crore compared to the previous quarter, its net profit actually declined by ₹78 crore. This is the second sequential fall in net profit – the retail giant reported a similar decline in the March quarter as well, despite marginal increases in revenue. <div type="image" title="Reliance Retail reports a second consecutive quarter of declining profits" msid="93059085" hostid="261" sizebytes="140952"></div> <cmsannotation type="cmsannotation" annotationid="Reliance Retail has managed to navigate the inflation storm so far" comment="subhead" text="Reliance Retail has managed to navigate the inflation storm so far">Reliance Retail has managed to navigate the inflation storm so far</cmsannotation> Despite a challenging macro environment, the marginally higher revenue suggests Reliance Retail has maintained its topline. “Reliance Retail delivered a strong performance with its best-ever quarterly revenues in a macro environment that remained challenging,” the company said in a statement. Even though inflation has been hitting the customers’ demand, discretionary spendings have largely been immune to the negative consumer sentiment. According to a report by ICICI Securities, <a href="https://www.businessinsider.in/retail/news/its-food-not-fashion-where-price-pinches-as-shopping-bags-retailer-coffers-are-swelling/articleshow/92515313.cms">customers’ shopping bags got heavier </a>this year and all retail brands like Reliance Retail, Shoppers Stop, Bata, Pantaloons and Lifestyle are reaping its benefits. “Despite various headwinds, fashion retailers displayed a resilient show with demand picking up pace in the latter part of the second half of FY22. Revenue recovery rate for most apparel and footwear players surpassed pre-Covid levels (100- 105%) from Q3FY22 onwards,” the report said. Reliance Retail has been adding more stores in order to cash in on immunity from inflation. Reliance Retail now owns a network of 15,866 physical stores, out of which 792 were added in the last three months. The company added 2,566 stores in the last fiscal year itself. <div type="image" title="Reliance Retail has managed to navigate the inflation storm so far" msid="93059093" hostid="261" sizebytes="93262"></div> The company also created 1,50,000 new jobs in the last financial year and claims to be one of the biggest employers in India, employing close to 3,61,000 in total. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-itc-infosys-and-other-hot-stocks-on-july-22/articleshow/93041515.cms">Indian markets open in the green – RIL, M&amp;M gain while Nifty IT, Infosys decline</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-to-start-fy23-with-strong-earnings-thanks-to-refining-margins/articleshow/93041430.cms">Reliance Industries to start FY23 with strong earnings, thanks to refining margins</a>

Reliance Retail reports a second consecutive quarter of declining profits

<ul><li>Overall, <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>’s gross revenue surged by ₹42,000 crore compared to last year.</li><li>However, its net profit declined by ₹120 crore in the January-March quarter of 2022, on a quarterly basis.</li><li>Reliance Retail now owns a network of 15,000 physical stores, out of which 2,566 were added in the last year.</li></ul>Reliance Retail — a subsidiary of Reliance Industries Limited (<keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword>) — reported a consolidated gross revenue of ₹2 lakh crore ($26.3 billion) for the financial year 2022 that ended in March this year. The annual revenue of Reliance Retail is <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-first-indian-company-to-near-100-billion-in-revenue/articleshow/91381614.cms" data-type="tilCustomLink">almost at par </a>with the quarterly revenue posted by Reliance Industries Limited between January and March 2022. Overall, the company’s gross revenue surged by ₹42,000 crore compared to last year. The retail venture’s net profit stood at ₹7,055 crore ($931 million), representing a 28.7% increase from last year. While Reliance Retail’s performance has been quite glossy on an annual basis, the company has failed to keep pace with its quarterly performance. “The headwinds posed by the COVID situation in January were offset by the robust growth in February and March as the business leveraged festive events and early setting of summer season,” the company said in its media release. Its net profit declined by ₹120 crore in the January-March quarter of 2022, on a quarterly basis. The Mukesh Ambani-led company reported a net profit of ₹2,139 crore in Q4 compared to ₹2,239 crore in the previous quarter. Even on a year-on-year basis, Reliance Retail’s net profit declined. <div type="image" title="Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year" msid="91381051" hostid="261"></div> “Despite the ongoing challenges of the pandemic and heightened geo-political uncertainties, Reliance has delivered a robust performance in FY 2021-22. I am pleased to report strong growth in our Digital Services and Retail segments,” Mukesh Ambani, chairperson and managing director of Reliance Industries Limited (RIL), said. <cmsannotation type="cmsannotation" annotationid="Over 2,500 new retail stores added in FY22 alone" comment="subhead" text="Over 2,500 new retail stores added in FY22 alone">Over 2,500 new retail stores added in FY22 alone</cmsannotation> Reliance Retail now owns a network of 15,000 physical stores, out of which 2,566 were added in the last year. The company added 793 stores in the last quarter itself. <div type="image" title="Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year" msid="91381085" hostid="261"></div> The company also <a href="https://www.businessinsider.in/careers/news/reliance-adds-over-2-lakh-new-jobs-in-india-in-fy22-every-3-out-of-4-new-jobs-are-from-retail-alone/articleshow/91381601.cms" data-type="tilCustomLink">created 150,000 new jobs in the last financial year</a> and claims to be one of the biggest employers in India, employing close to 361,000 in total. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms" data-type="tilCustomLink">Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a> <a href="https://www.businessinsider.in/stock-market/news/zomato-policybazaar-nykaa-and-paytm-shares-witness-sharp-corrections/articleshow/91365062.cms" data-type="tilCustomLink">New-age startups Zomato, PolicyBazaar, Nykaa and Paytm witness sharp corrections, market cap craters by over ₹6,000 crore</a>

Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year

<ul><li><keyword id="7887330" type="General" weightage="20" keywordseo="reliance-retail-revenue" source="Orion">Reliance Retail revenue</keyword> ₹57,714 crore in the third quarter (Q3) of FY21.</li><li>This is ₹20,000 crore higher than the revenue it reported in the same quarter last year.</li><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> spent over $1 billion on acquisitions and strategic partnerships between April to December 2021.</li></ul>Mukesh Ambani-led Reliance Retail — a subsidiary of oil-to-chemical conglomerate <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> (RIL) — has reported its highest ever revenue in the October to December quarter of financial year 2022. The company’s revenue crossed ₹57,714 crore in the third quarter (Q3) of FY21, which is nearly ₹20,000 crore higher than the revenue it reported in the same quarter last year. It has also surpassed Reliance Retail’s January-March quarter (FY20) revenue by ₹10,000 crore. Notably, Reliance Retail had previously cited January-March figures as its <a href="https://www.businessinsider.in/retail/news/reliance-retail-emerges-as-the-fastest-growing-segment-for-mukesh-ambani/articleshow/82331594.cms">highest ever quarterly revenue</a>. The company’s EBITDA (earning before interest, taxes, depreciation, and amortisation) was nearly 24% higher at ₹3,822 crore. <div type="image" title="Reliance Retail earns $1.3 billion more than its best ever quarter" msid="89044974" hostid="261"></div> Overall, the company has reported a revenue of ₹1,41,711 crore in the first three quarters of financial year 2022. It is already nearing FY2021 revenue figure of ₹1.57 lakh crore. “Retail business activity has normalised with strong growth in key consumption baskets on the back of festive season and as lockdowns eased across the country. Our digital services business has delivered broad based, sustainable, and profitable growth through improved customer engagement and subscriber mix,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said. Reliance Retail has witnessed strong growth momentum in fashion and lifestyle business as well as groceries. Festive season, successful winter wear collection and higher footfall in stores contributed to this growth. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Updates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recorded highest ever revenue and EBITDA (earning before interest, taxes, depreciation, and amortisation) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital and new commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ajio recorded the highest ever growth, Zivame reached a milestone of 100 stores, and Urban Ladder grew 2X over last year. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics stores posted double-digit growth with improvement across all operating parameters. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion &amp; Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest ever quarterly revenue with 2X growth over last year. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Reliance Retail in its recent financial statement also mentioned that it has invested over ₹7,600 crore (over $1 billion) in acquisition and strategic partnership between April to December 2021. In the last quarter, the company had made three acquisitions, which included grocery chain Jaisuryas and women’s intimate wear brand Amante. The retail giant also invested $200 million in Google-backed quick commerce platform Dunzo to further enhance JioMart. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/corporates/news/fortune-oil-maker-adani-wilmar-to-open-its-3600-crore-ipo-on-january-27/articleshow/89033308.cms">Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27</a> <a href="https://www.businessinsider.in/retail/news/hul-increased-price-of-wheel-detergent-rim-bar-lux-surf-excel-many-times-in-last-three-months/articleshow/89037315.cms">You have been paying more for detergents, soaps over the last three months</a> <a href="https://www.businessinsider.in/investment/news/twitters-long-awaited-hexagonal-profile-pictures-that-give-bragging-rights-to-nft-holders-is-here-but-not-everyone-loves-it/articleshow/89042268.cms">Twitter’s long-awaited hexagonal profile pictures that give bragging rights to NFT HOLDers is here — but not everyone loves it</a>

Reliance Retail earns $1.3 billion more than its best-ever quarter

<ul><li><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword> has reported a revenue of ₹45,450 crore in the July to September quarter of 2021.</li><li>This is still nearly ₹2,000 crore lower than the metrics reported in January to March quarter.</li><li>The fashion and lifestyle segment reported its highest ever revenue this quarter, while other categories grew.</li></ul>As several analysts predicted, Reliance Retail has a strong growth momentum in the fashion and lifestyle, consumer electronics and groceries segment. However, this has not helped the company breach the bar it raised six months ago. Reliance Retail has reported a revenue of ₹45,450 crore in the July to September quarter of 2021, but this is still nearly ₹2,000 crore lower than the metrics reported in January to March quarter. The Mukesh Ambani-led retail giant had reported its highest <a href="https://www.financialexpress.com/industry/reliance-jio-reliance-retail-continue-to-thrive-profit-sales-surge-check-q4-results-highlights/2243253/">ever</a> quarterly revenue in the March quarter. <div type="image" title="Reliance Retail fails to breach its own bar even as fashion and lifestyle segment reports its highest ever quarterly revenue" msid="87211802" hostid="261"></div> However, the retail giant has once again crossed its pre-Covid financial performance in this quarter. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July to September 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹45,450 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July to September 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41,100 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July to September 2019 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹41,202 crore </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Reliance Retail has witnessed strong growth momentum in the fashion and lifestyle segment, with sales closing above pre-COVID level. Consumer electronics and groceries also maintained a strong growth momentum as well, the company added. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Update </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Opened 813 stores, total count goes up to 13,635 stores </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital and new commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">All platforms recorded growth in daily orders and operating matrices. The business grew 2.4 times on an annual basis. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Consumer Electronics stores witnessed strong double-digit growth driven. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RelianceDigital.in </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expanded to 2,000 cities. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fashion &amp; Lifestyle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reported highest ever quarterly revenue. </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings resulting in healthy growth in revenues and margin expansion,” Mukesh Ambani, chairperson and managing director of Reliance Industries, said in a statement. <div type="image" title="Reliance Retail fails to breach its own bar even as fashion and lifestyle segment reports its highest ever quarterly revenue" msid="87211819" hostid="261"></div> The company has witnessed growth across all consumption baskets due to revicial in consumer sentiments during the festive seasons. Besides this, COVID-19 regulation relaxation has also impacted the demand for Reliance Retail’s business. The company has also closed three acquisitions in the July to September quarter. This includes grocery delivery platform Milkbasket, home styling solutions brand Portico and hyperlocal search engine Just Dial. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-cements-its-lead-over-airtel-in-both-total-as-well-as-active-subscribers/articleshow/87156675.cms">Reliance Jio cements its lead over Airtel in both total as well as active subscribers</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-network-down-in-india-no-internet-no-calls/articleshow/86802857.cms">#JioDown: Reliance Jio network goes down in certain circles, users report they cannot use internet or make calls</a>

Reliance Retail's revenue has fallen short of its own record by ₹2,000 crore

<ul><li>The recent data points from DMart (Avenue Supermarts) and Titan highlight sales improvement, says Morgan Stanley.</li><li>Given the diverse presence of <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>’s business, the company has been valued at $90 billion.</li><li>Analysts expect Reliance Retail’s EBITDA margins to rise nearly 1.4 times, but revenue to remain below January-March quarter of 2021.</li></ul>Reliance Industries is expected to showcase a positive business growth in the July to September quarter, majorly relying on its oil-to-chemical and telecom businesses. The Indian conglomerate’s retail business is expected to fare well too, especially given the performance of competitors DMart and Titan between July and September. According to a Morgan Stanley report, the recent data points from DMart (Avenue Supermarts) and Titan highlight sales improvement. This is “pointing to a strong outlook for Reliance Industries Limited (RIL) in our view,” the financial services company noted. Though Titan is yet to announce its quarterly financials, the company has <a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1d0d26f-f3f2-4ec4-bceb-affbdcc96ae4.pdf">noted</a> that its sales figures are moving “swiftly above or close” to the pre-pandemic levels. DMart, on the other hand, reported its highest ever quarterly revenue of ₹7,788.9 crore. Reliance Retail — which has partnerships with global brands like Burberry, Hamleys, Marks &amp; Spencer, Paul Smith, Tiffany &amp; Co and others — has a much more diverse presence compared to any of its peers. On this basis, JP Morgan has valued Reliance Retail at $90 billion. The analysts believe that JioMart’s expansion would continue to support Reliance Retail’s stock. It has been valued at $23 billion, which makes it the highest valued online groceries platform and the third highest valued ecommerce platform in India after Amazon and Flipkart. Reliance Retail has potential for better growth Retail is expected to have a significant contribution to Reliance’s numbers, but it is going to be a lot less when compared to its oil-to-chemical and telecom businesses. Morgan Stanley expects Reliance Retail’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) margins to rise nearly 1.4 times, particularly due to fashion and electronics sales recovery. A Jefferies report has also echoed similar opinion, adding that Reliance’s focus on opening up more stores as well as customers' growing footfall will benefit the retail giant. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vertical </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA September 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA September 2021 estimates </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oil-to-chemical </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹128,555 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹88,410 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,060 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹32,611 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Telecom </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹75,040 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹90,283 crore </td></tr></tbody><tbody></tbody></table>Source: Morgan Stanley The financial services company estimates that Reliance Retail’s revenues will rise 43% in the September quarter compared to April-June. However, it will continue to be 4% lower than the pre-second Covid wave run rate of January to March 2021. See Also <a href="https://www.businessinsider.in/business/corporates/news/reliances-oil-to-chemicals-business-seems-to-be-in-the-right-spot-to-leverage-chinas-climate-crackdown/articleshow/87152945.cms">Reliance’s oil-to-chemicals business seems to be in the right spot to leverage China’s climate crackdown</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-cements-its-lead-over-airtel-in-both-total-as-well-as-active-subscribers/articleshow/87156675.cms">Reliance Jio cements its lead over Airtel in both total as well as active subscribers</a>

Titan and DMart’s performance hints towards a strong growth for Reliance Retail

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="267" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> has won a vote of confidence from global rating agencies <keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> and <keyword id="19950093" type="General" weightage="20" keywordseo="Fitch" source="keywords">Fitch</keyword> after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&amp;P Global Ratings and Fitch Ratings in separate notes spoke of its <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword> Ltd's (<keyword id="20002939" type="General" weightage="20" keywordseo="ril" source="keywords">RIL</keyword>) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&amp;P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 crore. The company subsequently agreed to buy Paramount Global's 13.01 per cent stake in local entertainment network Viacom18 Media Pte Ltd for about Rs 4,300 crore. "These investments are in line with RIL's strategy to diversify and have a strong presence in a few key industries," the rating agency said. Also, the company received government approval in 2024 to develop gas reserves in the KG-D6 block in the Bay Of Bengal. This could increase the company's gas production capacity by 13-17 per cent. RIL's earlier announced investments include a Rs 75,000 crore expansion plan over five years (starting 2022) for the oil-to-chemicals business. "RIL's earnings will benefit from past investments," S&amp;P said. "We project the company's adjusted EBITDA will rise 2-4 per cent in fiscal 2025 (year ending March 31, 2025)," it added. Just as in the past two years, the digital services segment (Reliance Jio Infocomm Ltd) will be the key growth driver, with segment's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) increasing 10-12 per cent in fiscal 2025. Reliance Jio's wireless subscriber base and average revenue per user will gain from the company's investments in its 5G network since late 2022. Meanwhile, earnings in the oil and gas as well as retail segments will reap the rewards of increased production volume and a wider retail store network. "The EBITDA improvement that we expect in fiscal 2025 comes after a 14 per cent increase to Rs 1.6 lakh crore in fiscal 2024," it said. S&amp;P saw RIL's rising earnings providing it greater balance-sheet flexibility for growth. "We expect the combination of robust operating performances and continued spending to keep the company's debt-to-EBITDA ratio at 1.8x-2.0x over the next two years. This compares with our estimate of 1.7x for fiscal 2024 and our downgrade trigger of 2.5x," S&amp;P said. RIL's leverage has some distance from the upper end of the company's internal leverage target. RIL has reiterated its intention to keep its net debt-to-EBITDA ratio (by its own calculations) below 1x. The ratio was 0.65x as of March 31, 2024. Separately, Fitch Ratings said RIL's EBITDA net leverage is likely to remain below 1x in the medium term, supported by increasing cash flows and lower capex intensity, even as the conglomerate's absolute capex and investments remain high in the near term. "We expect RIL's EBITDA to increase by 8 per cent year-on-year in the financial year ending March 2025 (FY25) and 14 per cent in FY26, while capex intensity (capex/revenue) is likely to reduce below 13 per cent by FY26 (FY24: 15.3 per cent). Lower capex intensity would be driven by growing revenue and reduction in capex after FY25," it said. Fitch expected the conglomerate's Cash Flow from Operations (CFO) to be sufficient to fund its capex from FY26, which will limit additional debt funding and keep its EBITDA net leverage below 1.0x in the medium term (FY24: 0.9x, FY23: 1.1x). "Fitch estimates RIL's FY24 EBITDA net leverage at 0.9x, better than our expectation of 1.1x, driven by marginally higher EBITDA and Rs 20,900 crore of equity raised mainly from the sale of a stake in a subsidiary, even as its capex remained high at Rs 1.5 lakh crore (FY23: Rs 1.4 lakh crore)," the rating agency said in a statement. It rates RIL at 'BBB'/Stable, one notch above India's rating (BBB-/Stable). "We expect the EBITDA increase in the near to medium term to be driven by the telecom and retail businesses, supported by contribution from the upstream oil and gas segment and marginal recovery in petrochemical spreads in the oil to chemical (O2C) segment," Fitch said, adding EBITDA from digital services, largely telecom, is likely to benefit from a 10-15 per cent tariff hike and 15-20 million of additional subscribers in FY25 (FY24: 482 million subscribers). Digital services EBITDA rose by 13 per cent in FY24, as Reliance added 42 million subscribers and monthly average revenue per user increased to Rs 182. Monthly user data consumption increased by 24 per cent to 28.7 GB, one of the highest globally. Fitch expected retail EBITDA to increase by 20-25 per cent in FY25 (FY24: 28%) as Reliance continues to expand its physical stores and digital channels. EBITDA would be supported by a 22.2 per cent increase in its registered customer base to 304 million in FY24. Also, O2C segment EBITDA is expected to remain above Rs 60,000 crore in FY25 (FY24: Rs 62,400 crore), as a gradual improvement in petrochemical spreads from FY24 lows is expected as a supply overhang recedes. Upstream oil and gas EBITDA should stay at around Rs 20,000 crore in FY25 (FY24: Rs 20,200 crore), assisted by the expectation of a 10 per cent increase in gas production in the first full year of operation of three gas fields in the KG-D6 block, which should offset the potential reduction in price realisation with lower gas prices in international benchmarks. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/jnk-india-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/109597273.cms">JNK India IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a>

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check

<ul><li>India’s largest retailer said that the operating environment is at par with pre-Covid levels. </li><li>“Our retail business delivered record performance with strong revival in footfalls, store additions and digital integration,” said Mukesh Ambani, CMD of RIL. </li><li>Early onset of festivities and key promotional events drove positive consumer sentiments, the company said. </li><li><keyword id="9124982" type="General" weightage="20" keywordseo="jiomart-on-whatsapp" source="Orion">JioMart on WhatsApp</keyword> brought in 37% of orders from customers who had not shopped on JioMart before. </li></ul><keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>’s second quarter net profit grew 36% to ₹2,305 crore from ₹1,695 crore in the same quarter last year. This segment’s revenue grew 42.8% to ₹64,936 crore from ₹45,450 crore in the same quarter last year. India’s largest retailer said that the operating environment is at par with pre-Covid levels as the pandemic impact has ‘waned’. “Our retail business delivered record performance with strong revival in footfalls, store additions and digital integration. Reliance Retail continues to provide a compelling proposition of great shopping experience and superior value across consumption baskets and price points,” said Mukesh Ambani, chairman and managing director of Reliance Industries, in a press release. Early onset of festivities and key promotional events drove positive consumer sentiments, said the company whose EBITDA for the quarter went up by 51%. Its EBITDA margin from operations also expanded to 7.4% in the September quarter as compared to 6.1% in the same period last year. The company attributed it to favorable mix, positive operating leverage and operational efficiencies. The company’s retail space went up 20% quarter-on-quarter, taking its total store count to 16,617 stores spread across 54.5 million square feet. “Reliance Retail is the only Indian retailer with more than 50 million square feet of retail space under operation. The business continued to invest in bolstering its infrastructure capabilities by expanding over 5.4 million square feet of warehouse space,” the company said. JioMart on WhatsApp brought in 37% orders from ‘new’ customers The daily orders for its digital commerce business went up by 53% year-on-year, with a 2x growth in merchant base. JioMart’s ‘Tyohar Ready Sale’ resulted in 2.5x growth in traffic and 3x app installations, it said. “The business launched JioMart on WhatsApp native app during the quarter, a novel and disruptive initiative that brings the simplicity of instant chat service to the online shopping experience to millions of consumers. An impressive 37% of orders received from this platform are from new customers who had not shopped on JioMart before,” the company said. Its August ‘Digital India Sale’ was the best ever, the company said, adding that attractive offers and new product launches aided it. Mobile phones, TVs and washing machines did particularly well with 30% year-on-year growth. As consumers refreshed their wardrobe, its fashion and lifestyle business also recorded a strong quarter it said without providing data. However, it added that offline business in this category saw its best quarter ever with double-digit growth thanks to many festivals like Onam, Ganesh Chathurthi, Navratri and Pujo. “During the quarter, the business introduced three new store concepts. ‘Azorte’, a tech-aided premium fashion and lifestyle store format; ‘Centro’, a fashion &amp; lifestyle departmental store format and ‘Fashion Factory’, a format that offers value deals across brands to serve discerning customers,” the company said.

You Searched For "reliance retail revenue" and got 12 results

Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away

Sourabh Jain

Reliance AGM 2024: Company aims to double retail business, Mukesh Ambani says not pursuing short-term profit

BI India Bureau

Reliance Retail will grow fastest in terms of revenue, EBITDA, says Mukesh Ambani

Abhishek Jha

Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

PTI

Deepak Builders & Engineers IPO closes for subscription tomorrow. Here's all you need to know

Ira Alok Puranik

Reliance Retail reports a second consecutive quarter of declining profits

Kritti Bhalla

Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year

Kritti Bhalla

Reliance Retail earns $1.3 billion more than its best-ever quarter

Kritti Bhalla

Reliance Retail's revenue has fallen short of its own record by ₹2,000 crore

Kritti Bhalla

Titan and DMart’s performance hints towards a strong growth for Reliance Retail

Kritti Bhalla

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check

PTI

Reliance Retail Q2 net profit grows 36% as pandemic effect wanes

Katya Naidu

Popular Keywords

Buying Guides