Categories Concall Highlights, Consumer, Earnings, Energy, Industrials

Reliance Industries Limited Q2 FY24 Earnings Conference Call Insights

Key highlights from Reliance Industries Limited (RELIANCE) Q2 FY24 Earnings Concall

  • Financial Performance
    • Q2 EBITDA reached record INR45,000 crores, up 30% YoY.
    • Net profit grew 30% YoY to INR20,000 crores.
    • Growth seen across consumer business, digital services, O2C and oil & gas.
  • Retail Business Growth
    • Retail revenues grew 19% YoY to INR77,000 crores.
    • Categories like grocery, fashion/lifestyle driving growth.
    • Raised equity from investors, transferred warehousing assets.
    • EBITDA grew 32% to INR5,820 crores.
    • Added 471 new stores in 2Q, total store count grew over 2,000 YoY.
    • Festive sales boosted demand across categories like consumer electronics, fashion and grocery.
  • Digital Services Traction
    • Revenues grew 11% YoY to INR32,000 crores.
    • EBITDA grew 12.5% to INR13,500 crores.
    • Added 11.1 million subscribers, total additions of 32 million YoY.
    • Data traffic grew 29%, 5G adoption crossed 70 million users.
  • Oil to Chemicals Performance
    • Revenues declined 7.3% to INR148,000 crores due to lower oil prices.
    • EBITDA grew 36% YoY to INR16,300 crores on volume growth, higher cracks and margins.
    • Domestic polymer and fuel demand holding up well, driving growth.
  • Jio 5G Network Rollout
    • Over 1 million 5G sites deployed, over 70 million users migrated to 5G so far.
    • Monthly 5G traffic crossed 1.5 exabytes.
  • Fixed Wireless Services
    • Seeing strong demand for Jio AirFiber, currently ramping up supply chain and installation capabilities.
    • Accelerating goal of connecting 100M+ homes through the fixed wireless service.
  • Enterprise Services Traction
    • Present in 85%+ of large enterprises in India including banks, financial services.
    • Seeing 80%+ win rate in government bids.
    • Well positioned to compete in private 5G market globally.
  • Strong Subscriber Adds
    • Added 11.1 million subs in Q2, steadily growing QoQ.
    • ARPU at Rs 181.7 with improving mix and data usage.
    • Total data traffic up 29% YoY to 36.3 exabytes.
    • 5G rollout to further accelerate subscriber momentum.
  • Store Network Expansion
    • Opened 471 new stores, total area 71.5 million sq ft.
    • Launched Yousta fast fashion youth format.
    • Acquired kidswear brand Ed-a-Mamma and Superdry.
    • Digital and new commerce at 19% of gross sales.
  • Fashion and Lifestyle Business
    • Good growth despite festival season shift between quarters.
    • Online platform Ajio growing strongly, added 2M plus customers.
  • Grocery Business
    • Strong 33% YoY growth in stores and omni-channel.
    • Pushing into non-food categories, collaborations with brands.
    • Focus on premiumization and taking regional brands national.
    • Integrating B2B grocery business with Metro Cash & Carry.
  • CapEx and Market Outlook
    • CapEx expected to peak in FY24, driven by completion of the 5G rollout.
    • High visibility on growth in consumer businesses that generate high operating leverage reduces need for major near-term capex.
    • The market outlook across business segments is constructive.
    • Seeing strong oil and gas demand and prices, robust Indian fuel demand, and continued growth expected in consumer businesses.

Most Popular

Cochin Shipyard Ltd (COCHINSHIP) Q4 FY22 Earnings Concall Transcript

Cochin Shipyard Limited (NSE:COCHINSHIP) Q4 FY22 Earnings Concall dated May. 26, 2022 Corporate Participants: Madhu S Nair -- Chairman & Managing Director Jose V J -- Director Finance Analysts: Vastupal Shah

All you need to know about Antony Waste Handling Cell in one article

Can you guess the name of the company that was listed during the IPO frenzy in 2020 and is the second largest player in the Indian municipal waste management industry?

Demystifying the Leading Non-Ferrous Recycling Company of India

“Hey, how is the market doing today?” “Oh!, its falling tremendously since morning” I am sure news like these might be a common topic of discussion for you nowadays. Interestingly,