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Reliance Industries Limited (RIL) is a fortune global 500 company and the largest private sector company in India. RIL is a diversified conglomerate with business interests across oil refining, petrochemicals, exploration and production, retail, and digital services.

* Capex for FY24 was `1,317.69bn as against `1,418.09bn in FY23, with investments into network expansion in the digital services segment, scaling-up of the retail business, augmented production capacities in the Oil and Gas segment and projects in the O2C vertical. Capex was well covered by internal cash generation during the year.

* The retail business continues to partner with renowned domestic as well as global players, expanding its basket of quality product offerings. The focus on strengthening retail operations will help rapidly scale-up this business in the coming quarters and years and sustain industry-leading growth momentum. With a comprehensive range of renewable solutions including solar, energy storage systems, green hydrogen, bio-energy and wind, the New Energy business is poised to become a significant contributor to global clean energy transition.

* Gross Revenue remained stable Y-o-Y at Rs.2580.27bn in Q2FY25. Oil to Chemicals (O2C) revenue improved with higher volumes and increased domestic placement of products. Digital services revenue increased with the impact of revised telecom tariffs for mobility services and scale-up of homes and digital services businesses. It continues to focus on innovative deep-tech solutions on a national scale and is on track to deliver the pathbreaking benefits of Artificial Intelligence to all Indians. Jio has accomplished the fastest rollout of a 5G network witnessed anywhere in the world and is now available across India. JioAirFiber has seen strong demand and customer engagement, especially in underserved segments. Additionally, Reliance aims to double its EBITDA in the next five years, leveraging opportunities in 5G technology.

* We are confident that Reliance Industries Limited (RIL) presents a compelling investment opportunity, driven by strong growth prospects across its diverse business segments and the potential for significant value creation in its retail, digital services, and financial services portfolios.

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