Reliance Industries FY24 AGM - Targets To Double Ebitda In Next Five Years: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

We attended the 47th AGM of Reliance Industries Ltd. held on August 29, 2024, in which the management reiterated its strategic vision for its four key businesses – telecom, retail, oil-to-chemical and new energy.

The company aims to double its Ebitda in the next five years, powered by 5G opportunities, increased investments in AI/data centers, further expansion in Retail (physical + digital) and the start of PV/battery facilities in New Energy.

While RIL delivered a weak Q1 FY25 earnings performance, we believe Q2 FY25 should benefit from sequentially higher refining margin (SG GRM: $4.3/barrel of oil QTD versus $3.5/bbl in 1Q), the partial benefits of telecom tariff hikes taken in Q1 and an improving retail earnings momentum QoQ on a weak Q1 base.

We maintain our Buy rating on the stock with a target price of Rs 3,435.

Click on the attachment to read the full report:

Motilal Oswal RIL Update.pdf

Read Document

Also Read: Brokerage Views: Reliance Industries In Focus, Citi On Bharti Hexacom And More

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.