Reliance (RELIANCE) — concall transcript

📢 Key Event
Reliance reported Q2 FY25 results with flat revenue growth and modest PAT decline, driven by digital and retail performance amid sectoral pressures.

🔄 What Changed
EBITDA margin improved in retail to 8.5% (up 40 bps); digital services revenue grew 18%; Jio True 5G subscribers reached 148 million; CAPEX of ₹34,000 crores allocated to O2C and new energy; net debt remained flat.

🔮 What's Next
Management expressed optimism for recovery in the second half, citing festive demand, potential stimulus, and structural strengths in digital and retail, though no formal guidance was provided.

💡 Investor Takeaway
Shareholders should note that while near-term margins face pressure, long-term growth is anchored in digital services and 5G expansion, with CAPEX focused on structural transformation.

Reliance Industries reported consolidated revenue of [amount not verified]trillion (up 0.8% YoY) and PAT of ₹19,323 crores (down 2.8% YoY) for Q2 FY25, with EBITDA at ₹43,934 crores (down 2% YoY). Digital services drove 18% revenue growth and added 148 million True 5G subscribers, while retail revenue dipped 1.1% but EBITDA margin rose to 8.5%. CAPEX of ₹34,000 crores** targeted O2C and new energy, with net debt flat. Management highlighted 5G energy efficiency extending handset battery life by 20-40%, near GPS-level location accuracy, and JioAICloud offering 100GB+ cloud storage powered by the Jio Brain AI platform. Enterprise services expanded with managed WiFi and SIP-based offerings, and Jio AirFiber added 2.8 million connections, targeting 1 million new homes monthly.

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About Reliance Industries Ltd (RELIANCE)

Oil Gas & Consumable Fuels · Refineries · Listed on BSE

Market Cap: ₹17,77,025.32 Cr P/E: 23.8 ROE: 9.7% ROCE: 11.3% Div Yield: 0.46%

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🔥 Also filed on 30 September 2024

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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