Pictures tell you a story. Let’s look at the Reliance Results for their story.
Revenues Fall Year on Year, Profits up 20% on a Lower Base
None of the Segments Did Really Well
Has Oil Production Bottomed?
Refining Margins Threatened Yet Again
However, the dollar depreciation would have helped. But they hedge a substantial portion of this – nearly 127,000 cr. of it last year.
Petrochem Production Falls to Lowest Since March 2011
They have a Lot of Debt, and Even More Cash
EPS Growth “Slows” A Little Bit
Earnings Per Share for the last 12 months is Rs. 67.6. At 923, the stock quotes at a P/E of 13.65. This is a reasonably small P/E. Their retail stores are doing reasonably and they’re making more noises about Jio Infocomm (their large LTE/4G venture).
The story on the primary business end is dying; but will Reliance, with it’s massive cash hoard, pull things out of its hat?
Disclosure: No positions, and wondering if it’s a good time to buy.
