StocksMarket.in

Accumulate Reliance Industries; target of Rs 1406: Prabhudas Lilladher

April 19
14:25 2019

Prabhudas Lilladher’s research report on Reliance Industries

RIL reported Q4FY19 standalone results with EBITDA of Rs137bn (PLe: Rs142bn) and PAT of Rs85.5bn (PLe: Rs84.9bn) respectively. During the quarter, both refining and petrochemicals profitability came in lower than our estimates. For Q4, GRMs were at US$ 8.2/bbl (PLe: US$ 8.4/bbl) due to weak gasoline spreads given high inventory and weak demand. However, gasoil spreads were healthy given low inventory. Q4 refining thruput were also lower at 16MTPA (18MTPA in Q4) due to maintenance shutdown.

Outlook

Maintain earnings, maintain ACCUMULATE: We maintain our estimates for FY19/20E. after a sharp run up, we maintain our rating to ACCUMULATE.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Related Articles

Archives