Q1 2025 Reliance Industries Ltd Earnings Call Transcript
Key Points
- EBITDA increased by 2% year-on-year to INR42,748 crores, driven by growth in consumer business and strong upstream performance.
- Retail segment saw significant growth with revenues reaching almost INR76,000 crores and EBITDA at INR5,700 crores, up 8% and 10.5% respectively.
- Digital services experienced robust growth with a 12.8% increase in revenues and 11.6% rise in EBITDA, driven by healthy subscriber additions and increased FTTH penetration.
- Oil and gas segment reported a 30% increase in EBITDA to INR5,210 crores, supported by a 44% year-on-year rise in KG D6 production.
- Net debt reduced to INR1,12,000 crores from INR1,16,281 crores in March, indicating strong balance sheet management.
- O2C segment's EBITDA declined by 14% year-on-year to INR13,100 crores, primarily due to a 30% drop in gasoline cracks and lower margins in polyethylene and polypropylene.
- Fashion and lifestyle segment underperformed with lower discretionary demand, impacting overall retail growth.
- PAT decreased by 4.5% year-on-year to INR17,500 crores, reflecting challenges in the broader operating environment.
- Price realization in the oil and gas segment was negatively impacted by a 14% decrease, despite higher production volumes.
- Geopolitical tensions and market volatility continue to pose risks, particularly in the energy markets, affecting earnings stability.
Good evening, and welcome to the first quarter of financial year 2024, 2025 financial presentation of Reliance Industries. As always, we will have Srikant walk you through the consolidated performance of the quarter, followed by Anshuman Thakur, who will give you the most overview of the year's performance. Dinesh Taluja on retail, Sanjay Roy on ESP, then Srikant will come back to talk about O2C and summarize performance.
Over to you, Srikant.
Thanks, Vinny, and good evening to all of you. Starting with the performance, EBITDA at INR42,748, up 2% year on year. This is important for me to say that the growth in consumer business and strong upstream offset weak O2C.
On retail, we have seen growth led by grocery and consumer electronics and also improvements in overall customer engagement, as well as some contribution from digital channels.
On digital side, the benefits coming from healthy subscriber addition and also increasing FTTH penetration. Overall, on the O2C
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