RIL Back On Growth Path, Say Brokerages

New Delhi: Reliance Industries Ltd, India’s most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.Oil-to-telecom-and-retail conglomerate’s highest-ever EBITDA of Rs 43,800 crore in October-December 2024 - the third quarter of April 2024 to March 2025 fiscal (FY25) - best estimates on strong showing across segments.

In particular, this was driven by strength in oil-to-chemical (O2C), which is made up of oil refineries and petrochemical plans, and recovery in consumer retail. “Reliance is back on a growth path after six months of challenges,” Morgan Stanley said in a note.

The company is looking to expand its chemicals capacity focused on the domestic market with investments in vinyl/polyester chains and ethane import logistics. “This sees a significant interplay between new energy and O2C leading to lower costs and carbon footprint. India demand for chemicals remains robust growing 5-16 per cent year-on-year on key chains,” it said.