RIL Q3FY21 Estimates

Reliance Industries Ltd. (RIL) will declare its Q3 FY21 results (quarter ended 31^st December, 2020), on Friday, 22^nd January, 2021. Our estimates, on consolidated basis are as under:

(Rs./Crore)

Note: % in brackets indicate margin for Q3FY21E

Key Assumptions:

1. GRM for Q3FY21 is estimated at $6.9 per barrel, against $5.7 per barrel of Q2FY21.
2. Singapore benchmark is seen at $1.2 for Q3FY21, which was at NIL in Q2FY21.
3. Crude Refined volume is estimated at 15.5 MMT in Q3 FY21, against 15.3 MMT QoQ and Petchem volume is estimated at 9.9 MMT in Q3 FY21, against 9.7 MMT QoQ.
4. Jio Subscribers is seen at 412 million at end of Q3FY21, against 405.60 million at end of Q2FY21. ARPU is estimated at Rs.157 for Q3 against Rs.145 of Q2.
5. Retail area estimated at 30 million sq. ft. at the end of Q3FY21, against 29.7 million sq. ft. at the end of Q2FY21.