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CapitalVia Global
Reliance Ind (Buy)
CMP: ₹970.20
Target: ₹1,040
Reliance Industries, together with its subsidiaries, engages in exploration, development, and production of crude oil and natural gas in India and internationally. The company operates through three segments: petrochemicals, refining and oil and gas. RIL also offers textile products, In addition, it operates retail outlets comprising Reliance retail, food and grocery specialty stores.
RIL has maintained an average dividend yield of 1.09 per cent over the last five financial years. Reliance Industries’ average current ratio over the last five financial years has been 1.43 times which indicates that the company is comfortably placed to pay for its short-term obligations. Since RIL operates with very low levels of debt, its average interest coverage ratio over the last five financial years has been 11.62 times which indicates that the firm can meet its debt obligations without any difficulty. RIL reported PAT of ₹27,504 crore. In its latest stock exchange filing of March 31, Reliance Industries reported a promoter holding of 46.53 per cent. Large promoter holding indicates conviction and sincerity of the promoters. We believe that a greater than 35 per cent promoter holding offers safety to the retail investors.
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