July 30, 2020 | |
BSE Limited | National Stock Exchange of India Limited |
Phiroze Jeejeebhoy Towers | Exchange Plaza |
Dalal Street | Plot No. C/1, G Block |
Mumbai 400 001 | Bandra-Kurla Complex |
Bandra (East) | |
Mumbai 400 051 | |
Scrip Code: 500325 / 890147 | Trading Symbol: RELIANCE / RELIANCEPP |
Dear Sirs, |
Sub: Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2020
In continuation of our letter dated July 21, 2020 and pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2020, duly reviewed and recommended by the Audit Committee and approved by the Board of Directors of the Company, at its meeting held today.
The meeting of the Board of Directors commenced at 5:15 p.m. and concluded at 6:55 p.m.
Kindly acknowledge the receipt.
Thanking you,
Yours faithfully,
For Reliance Industries Limited
Savithri Parekh
Joint Company Secretary and
Compliance Officer
Encl.: as above | |
Copy to: | Singapore Stock Exchange |
The Luxembourg Stock Exchange | 2 Shenton Way, #19- 00 SGX Centre 1, |
Societe de la Bourse de Luxembourg | Singapore 068804 |
35A boulevard Joseph II | |
B P 165, L-2011 Luxembourg |
Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India
Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail:investor.relations@ril.com, Website: www.ril.com
CIN- L17110MH1973PLC019786
Name of the Company: Reliance Industries Limited
Registered Office : 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai 400 021
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2020
(` in crore, except per share data)
Quarter Ended | Year Ended | ||||||||||
Particulars | (Audited) | ||||||||||
30 June'20 | 31 Mar'20 | 30 June'19 | 31 Mar'20 | ||||||||
Income | |||||||||||
Value of Sales & Services (Revenue) | 100,929 | 151,461 | 174,087 | 659,997 | |||||||
Less: GST Recovered | 9,691 | 11,926 | 11,734 | 47,560 | |||||||
Revenue from Operations | 91,238 | 139,535 | 162,353 | 612,437 | |||||||
Other Income | 4,388 | 3,881 | 2,846 | 13,164 | |||||||
Total Income | 95,626 | 143,416 | 165,199 | 625,601 | |||||||
Expenses | |||||||||||
Cost of Materials Consumed | 35,286 | 57,683 | 70,939 | 260,621 | |||||||
Purchases of Stock-in-Trade | 13,815 | 31,797 | 43,659 | 149,667 | |||||||
Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade | (1,637) | 99 | (4,642) | (5,048) | |||||||
Excise Duty | 2,985 | 3,043 | 4,373 | 14,902 | |||||||
Employee Benefits Expense | 3,168 | 3,713 | 3,335 | 14,075 | |||||||
Finance Costs | 6,735 | 6,064 | 5,109 | 22,027 | |||||||
Depreciation / Amortisation and Depletion Expense | 6,308 | 6,332 | 5,011 | 22,203 | |||||||
Other Expenses | 20,746 | 21,166 | 23,074 | 89,211 | |||||||
Total Expenses | 87,406 | 129,897 | 150,858 | 567,658 | |||||||
Profit Before Share of Profit/(Loss) of Associates and Joint Ventures, | 8,220 | 13,519 | 14,341 | 57,943 | |||||||
Exceptional Item and Tax | |||||||||||
Share of Profit/(Loss) of Associates and Joint Ventures | 322 | (29) | 25 | 107 | |||||||
Profit Before Exceptional Item and Tax | 8,542 | 13,490 | 14,366 | 58,050 | |||||||
Exceptional Gain/(Loss) (Refer Note 3) | 4,966 | (4,267) | - | (4,444) | |||||||
Profit Before Tax^ | 13,508 | 9,223 | 14,366 | 53,606 | |||||||
Tax Expenses^ | |||||||||||
Current Tax | 923 | 1,376 | 3,193 | 8,630 | |||||||
Deferred Tax | (663) | 1,301 | 1,032 | 5,096 | |||||||
Profit for the Period | 13,248 | 6,546 | 10,141 | 39,880 | |||||||
Other Comprehensive Income (OCI) | |||||||||||
i | Items that will not be reclassified to Profit or Loss | 19,495 | 23,280 | (508) | 22,286 | ||||||
ii | Income tax relating to items that will not be reclassified to Profit or Loss | (2,104) | (240) | 103 | (1,088) | ||||||
iii | Items that will be reclassified to Profit or Loss | 635 | (5,688) | 339 | (7,085) | ||||||
iv | Income tax relating to items that will be reclassified to Profit or Loss | (356) | 964 | (15) | 1,180 | ||||||
Total Other Comprehensive Income/(Loss) (Net of Tax) | 17,670 | 18,316 | (81) | 15,293 | |||||||
Total Comprehensive Income for the Period | 30,918 | 24,862 | 10,060 | 55,173 | |||||||
Net Profit attributable to : | |||||||||||
a) | Owners of the Company | 13,233 | 6,348 | 10,104 | 39,354 | ||||||
b) | Non-Controlling Interest | 15 | 198 | 37 | 526 | ||||||
Other Comprehensive Income attributable to : | |||||||||||
a) | Owners of the Company | 17,667 | 18,326 | (76) | 15,311 | ||||||
b) | Non-Controlling Interest | 3 | (10) | (5) | (18) | ||||||
Total Comprehensive Income attributable to : | |||||||||||
a) | Owners of the Company | 30,900 | 24,674 | 10,028 | 54,665 | ||||||
b) | Non-Controlling Interest | 18 | 188 | 32 | 508 | ||||||
Earnings per equity share (Face Value of ` 10/-) (Not Annualised for the quarter)* | |||||||||||
(a.1) | Basic (in `) - After Exceptional Item | 20.69 | 9.95 | 16.94 | 63.07 | ||||||
(a.2) | Basic (in `) - Before Exceptional Item | 12.92 | 16.63 | 16.94 | 70.19 | ||||||
(b.1) | Diluted (in `) - After Exceptional Item | 20.63 | 9.95 | 16.93 | 63.06 | ||||||
(b.2) | Diluted (in `) - Before Exceptional Item | 12.89 | 16.63 | 16.93 | 70.18 | ||||||
Paid up Equity Share Capital, Equity Shares of ` 10/- each * | 6,445 | 6,339 | 5,926 | 6,339 | |||||||
Other Equity excluding Revaluation Reserve | 446,992 |
^Profit before tax is after exceptional item and tax thereon and Tax expenses are excluding the current tax on exceptional item.
* Refer Note 4.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 1 of 12
Notes
- The figures for the corresponding previous period have been regrouped/reclassified wherever necessary, to make them comparable.
- The outbreak of corona virus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group's operations and revenue during the current quarter were impacted due to COVID-19. The Group has taken into account the possible impact of COVID-19 in preparation of the unaudited consolidated financial results, including its assessment of recoverable value of its assets based on internal and external information upto the date of approval of these unaudited consolidated financial results and current indicators of future economic conditions.
- Following initial agreements with BP Global Investments Limited ("BP") in December 2019, the
Company transferred its Petro Retail Marketing business to Reliance BP Mobility Limited ("RBML"). BP has acquired 49% equity stake in RBML by way of (i) subscribing to 7.42% equity shares of RBML and (ii) balance by purchase of 41.58% of equity shares in RBML from the Company for an aggregate consideration of ` 7,629 crore based on the enterprise value of US$ 2.04 billion for RBML.
During the quarter, upon receipt of requisite regulatory approval, the Company recognised a gain of ` 4,966 crore (net of taxes of ` 1,508 crore), as an Exceptional Item. - The Company had, issued 42,26,26,894 equity shares of face value of ₹ 10/- each ('Rights Equity Shares') to the Eligible Equity Shareholders at an issue price of ₹ 1,257 per Rights Equity Share (including premium of ₹1,247 per Rights Equity Share). The Rights Equity Shares were issued as partly paid-up and an amount of ₹ 314.25 per Rights Equity Share was payable on application (of which ₹ 2.50 towards face value of Rights Equity Share and ₹ 311.75 towards premium amount of Rights Equity Share).
There is no deviation in use of proceeds from the objects stated in the Offer document for rights issue.
Pursuant to IND AS 33, basic and diluted earnings per share for the previous periods have been restated for the bonus element in respect of right issue made during the quarter ended 30th June 2020.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 2 of 12
- On completion of the ongoing O2C expansions including J3 Projects, the management based on internal and external technical evaluation, reassessed the estimates relating to the life of Plant & Machinery. Basis the technical evaluation, the Company has revised the useful life of the assets to 50 years from the respective dates of commissioning, with effect from April 01, 2020.
- Deferred tax credit in Q1 FY21 is primarily due to planned restructuring of O2C business in the current year. This is partially offset by increase in deferred tax expense in Digital Services business.
- Total Non-Convertible Debentures of the Company outstanding as on June 30, 2020 are ` 79,414 crore out of which, secured non-convertible debentures are ` 13,351 crore.
The listed Secured Non-Convertible Debentures of the Company aggregating ` 13,351 crore as on 30th June 2020 are secured by way of first charge on the Company's certain properties. The asset cover in respect of the Non-Convertible Debentures of the Company as on 30th June 2020 exceeds hundred percent of the principal amount of the said listed Non-Convertible Debentures.
During the quarter, the Company issued listed Unsecured Non-Convertible Redeemable Debentures amounting to ` 24,955 crore in four tranches (Series K, L, M and N) on private placement basis and redeemed listed Secured Non-Convertible Redeemable Debentures amounting to ` 500 crore (Series PPD -180 Tranche 1).
- Commercial Papers due for redemption during Q1 FY21, were duly repaid.
- The Audit Committee has reviewed the above results and the Board of Directors has approved the above results and its release at their respective meetings held on 30th July, 2020. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 3 of 12
UNAUDITED CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2020
(` in crore)
Sr. No
1
2
3
4
Quarter Ended | Year Ended | |||||||||
Particulars | (Audited) | |||||||||
30 June'20 | 31 Mar'20 | 30 June'19 | 31 Mar'20 | |||||||
Segment Value of Sales and Services (Revenue) | ||||||||||
- | Petrochemicals | 25,192 | 32,206 | 37,611 | 145,264 | |||||
- | Refining | 46,642 | 84,854 | 101,721 | 387,522 | |||||
- | Oil and Gas | 506 | 625 | 923 | 3,211 | |||||
- | Retail | 31,633 | 38,242 | 38,216 | 163,029 | |||||
- | Digital Services | 21,302 | 19,153 | 15,886 | 69,605 | |||||
- | Financial Services | 690 | 783 | 513 | 2,194 | |||||
- | Others | 8,153 | 16,614 | 10,724 | 41,689 | |||||
Gross Value of Sales and Services | 134,118 | 192,477 | 205,594 | 812,514 | ||||||
Less: Inter Segment Transfers | 33,189 | 41,016 | 31,507 | 152,517 | ||||||
Value of Sales & Services | 100,929 | 151,461 | 174,087 | 659,997 | ||||||
Less: GST Recovered | 9,691 | 11,926 | 11,734 | 47,560 | ||||||
Revenue from Operations | 91,238 | 139,535 | 162,353 | 612,437 | ||||||
Segment Results (EBITDA) | ||||||||||
- | Petrochemicals | 4,430 | 5,938 | 8,810 | 30,933 | |||||
- | Refining | 3,818 | 6,614 | 5,143 | 24,461 | |||||
- | Oil and Gas | (32) | (46) | 207 | 353 | |||||
- | Retail | 1,083 | 2,569 | 2,060 | 9,695 | |||||
- | Digital Services | 7,803 | 6,833 | 5,027 | 23,348 | |||||
- | Financial Services^ | 380 | 352 | 122 | 811 | |||||
- | Others | 1,409 | 1,634 | 859 | 4,408 | |||||
Total Segment Profit before Interest, Tax, Exceptional | 18,891 | 23,894 | 22,228 | 94,009 | ||||||
item and Depreciation, Amortisation and Depletion | ||||||||||
Segment Results (EBIT) | ||||||||||
- | Petrochemicals | 3,392 | 4,553 | 7,508 | 25,547 | |||||
- | Refining | 2,892 | 5,706 | 4,499 | 21,334 | |||||
- | Oil and Gas | (511) | (485) | (249) | (1,407) | |||||
- | Retail | 722 | 2,072 | 1,786 | 8,292 | |||||
- | Digital Services | 4,708 | 4,251 | 3,121 | 14,634 | |||||
- | Financial Services^ | 380 | 352 | 122 | 811 | |||||
- | Others | 1,095 | 1,260 | 532 | 3,117 | |||||
Total Segment Profit before Interest and Tax | and | 12,678 | 17,709 | 17,319 | 72,328 | |||||
Exceptional item | ||||||||||
(i) | Finance Cost* | (6,735) | (6,022) | (5,108) | (21,880) | |||||
(ii) | Interest Income | 2,792 | 2,267 | 2,474 | 9,642 | |||||
(iii) | Other Un-allocable Income (Net of Expenditure) | (193) | (464) | (319) | (2,040) | |||||
Profit Before Exceptional Item and Tax | 8,542 | 13,490 | 14,366 | 58,050 | ||||||
Exceptional Item | 4,966 | (4,267) | - | (4,444) | ||||||
Profit Before Tax# | 13,508 | 9,223 | 14,366 | 53,606 | ||||||
(i) | Current Tax | (923) | (1,376) | (3,193) | (8,630) | |||||
(ii) Deferred Tax | 663 | (1,301) | (1,032) | (5,096) | ||||||
Profit After Tax (including share of Profit/(Loss) of | 13,248 | 6,546 | 10,141 | 39,880 | ||||||
Associates & Joint Ventures) | ||||||||||
Total EBITDA | 25,886 | 24,486 | ||||||||
21,585 | 102,280 |
^ Segment results (EBITDA and EBIT) of the financial services segment include interest income and interest expense relating to the segment.
- Finance cost relating to Financial Services segment of Nil for the quarter ended 30th June 2020, ` 42 crore for the quarter ended 31st March 2020;
- 1 crore for the quarter ended 30th June 2019, `147 crore for the year ended 31st March 2020 has been considered as part of Segment result.
# Profit before tax is after exceptional item and tax thereon and Tax expenses are excluding the current tax on exceptional item.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 4 of 12
(` in crore) | |||||||
Sr. | Quarter Ended | Year Ended | |||||
No | Particulars | (Audited) | |||||
30 June'20 | 31 Mar'20 | 30 June'19 | 31 Mar'20 | ||||
5 | Segment Assets | ||||||
- | Petrochemicals | 129,217 | 130,741 | 126,537 | 130,741 | ||
- | Refining | 219,107 | 229,070 | 221,826 | 229,070 | ||
- | Oil and Gas | 45,441 | 42,693 | 36,632 | 42,693 | ||
- | Retail | 40,280 | 38,902 | 34,836 | 38,902 | ||
- | Digital Services | 293,035 | 280,971 | 252,263 | 280,971 | ||
- | Financial Services | 83,827 | 68,368 | 13,150 | 68,368 | ||
- | Others | 99,184 | 89,099 | 86,634 | 89,099 | ||
- | Unallocated | 296,716 | 286,071 | 255,241 | 286,071 | ||
Total Segment Assets | 1,206,807 | 1,165,915 | 1,027,119 | 1,165,915 | |||
6 | Segment Liabilities | ||||||
- | Petrochemicals | 11,388 | 12,129 | 18,127 | 12,129 | ||
- | Refining | 32,470 | 38,265 | 48,543 | 38,265 | ||
- | Oil and Gas | 45,720 | 42,626 | 41,168 | 42,626 | ||
- | Retail | 18,901 | 19,286 | 24,332 | 19,286 | ||
- | Digital Services | 83,071 | 76,075 | 171,033 | 76,075 | ||
- | Financial Services | 73 | 78 | 10 | 78 | ||
- | Others | 22,604 | 24,932 | 18,353 | 24,932 | ||
- | Unallocated | 992,580 | 952,524 | 705,553 | 952,524 | ||
Total Segment Liabilities | 1,206,807 | 1,165,915 | 1,027,119 | 1,165,915 |
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 5 of 12
Notes to Segment Information (Consolidated) for the Quarter Ended 30th June, 2020
1. As per Indian Accounting Standard 108 'Operating Segments', the Company has reported 'Segment Information', as described below:
- The Petrochemicals segment includes production and marketing operations of petrochemical products namely, High density Polyethylene, Low density Polyethylene, Linear Low density Polyethylene, Polypropylene, Polyvinyl Chloride, Polyester Yarn, Polyester Fibres, Purified Terephthalic Acid, Paraxylene, Ethylene Glycol, Olefins, Aromatics, Linear Alkyl Benzene, Butadiene, Acrylonitrile, Poly Butadiene Rubber, Styrene Butadiene Rubber, Caustic Soda, Polyethylene Terephthalate, High Purity Iso- Butylene and Composites.
- The Refining segment includes production and marketing operations of the petroleum products.
- The Oil and Gas segment includes exploration, development, production of crude oil and natural gas.
- The Retail segment includes consumer retail and range of related services.
- The Digital Services segment includes provision of a range of digital services.
- The Financial Services segment comprises of management and deployment of identified resources of the Company to various activities including non-banking financial services, insurance broking.
- Other business segments which are not separately reportable have been grouped under the Others segment.
- Other investments / assets, long term resources raised by the company, business trade financing liabilities managed by the centralised treasury function and related income/expense are considered under Unallocated.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 6 of 12
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2020
(` in crore, except per share data)
Quarter Ended | Year Ended | |||||||||
Particulars | (Audited) | |||||||||
30 Jun'20 | 31 Mar'20 | 30 Jun'19 | 31 Mar'20 | |||||||
Income | ||||||||||
Value of Sales & Services (Revenue) | 52,263 | 80,526 | 96,867 | 366,177 | ||||||
Less: GST Recovered | 1,817 | 3,299 | 3,748 | 14,322 | ||||||
Revenue from Operations | 50,446 | 77,227 | 93,119 | 351,855 | ||||||
Other Income | 4,211 | 3,718 | 2,862 | 13,566 | ||||||
Total Income | 54,657 | 80,945 | 95,981 | 365,421 | ||||||
Expenses | ||||||||||
Cost of Materials Consumed | 29,128 | 50,447 | 65,009 | 237,342 | ||||||
Purchases of Stock-in-Trade | 1,367 | 2,158 | 1,631 | 7,292 | ||||||
Changes in Inventories of Finished Goods, Work-in-Progress and Stock- | 195 | (1,247) | (1,545) | 77 | ||||||
in-Trade | ||||||||||
Excise Duty | 2,985 | 3,043 | 4,373 | 14,902 | ||||||
Employee Benefits Expense | 1,187 | 1,506 | 1,338 | 6,067 | ||||||
Finance Costs | 4,780 | 4,161 | 2,701 | 12,105 | ||||||
Depreciation / Amortisation and Depletion Expense | 2,174 | 2,685 | 2,175 | 9,728 | ||||||
Other Expenses | 8,456 | 9,749 | 8,190 | 33,347 | ||||||
Total Expenses | 50,272 | 72,502 | 83,872 | 320,860 | ||||||
Profit Before Exceptional Item and Tax | 4,385 | 8,443 | 12,109 | 44,561 | ||||||
Exceptional Gain/(Loss) (Refer Note 3) | 4,420 | (4,245) | - | (4,245) | ||||||
Profit Before Tax$ | 8,805 | 4,198 | 12,109 | 40,316 | ||||||
Tax Expenses$ | ||||||||||
Current Tax | 629 | 1,337 | 2,442 | 7,200 | ||||||
Deferred Tax | (1,577) | 281 | 631 | 2,213 | ||||||
Profit for the Period | 9,753 | 2,580 | 9,036 | 30,903 | ||||||
Other Comprehensive Income (OCI) | ||||||||||
i | Items that will not be reclassified to Profit or Loss | 183 | (119) | (227) | (392) | |||||
ii | Income tax relating to items that will not be reclassified to Profit | (39) | 36 | 49 | (944) | |||||
or Loss | ||||||||||
iii | Items that will be reclassified to Profit or Loss | 1,767 | (5,672) | 63 | (6,921) | |||||
iv | Income tax relating to items that will be reclassified to Profit or | (353) | 964 | (14) | 1,183 | |||||
Loss | ||||||||||
Total Other Comprehensive Income/(Loss) (Net of Tax) | 1,558 | (4,791) | (129) | (7,074) | ||||||
Total Comprehensive Income for the Period | 11,311 | (2,211) | 8,907 | 23,829 | ||||||
Earnings per equity share (Face Value of ` 10/-) (Not Annualised for the | ||||||||||
quarter)* | ||||||||||
(a.1) | Basic (in `) - After Exceptional Item | 15.25 | 4.04 | 14.16 | 48.42 | |||||
(a.2) | Basic (in `) - Before Exceptional Item | 8.34 | 10.69 | 14.16 | 55.07 | |||||
(b.1) | Diluted (in `) - After Exceptional Item | 15.21 | 4.04 | 14.16 | 48.42 | |||||
(b.2) | Diluted (in `) - Before Exceptional Item | 8.32 | 10.69 | 14.16 | 55.07 | |||||
Paid up Equity Share Capital, Equity Shares of ` 10/- each *. | 6,445 | 6,339 | 6,339 | 6,339 | ||||||
Other Equity excluding Revaluation Reserve | 418,245 |
$ Profit before tax is after exceptional item and tax thereon and Tax expenses are excluding the current tax on exceptional item. * Refer Note 4.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 7 of 12
Notes
- The figures for the corresponding previous period have been regrouped / reclassified wherever necessary, to make them comparable.
- The outbreak of corona virus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Company's operations and revenue during the current quarter were impacted due to COVID-19. The Company has taken into account the possible impact of COVID-19 in preparation of the unaudited standalone financial results, including its assessment of recoverable value of its assets based on internal and external information upto the date of approval of these unaudited standalone financial results and current indicators of future economic conditions.
- Following initial agreements with BP Global Investments Limited ("BP") in December 2019, the
Company transferred its Petro Retail Marketing business to Reliance BP Mobility Limited ("RBML"). BP has acquired 49% equity stake in RBML by way of (i) subscribing to 7.42% equity shares of RBML and (ii) balance by purchase of 41.58% of equity shares in RBML from the Company for an aggregate consideration of ` 7,629 crore based on the enterprise value of US$ 2.04 billion for RBML.
During the quarter, upon receipt of requisite regulatory approval, the Company recognised a gain of ` 4,420 crore (net of taxes of ` 1,508 crore), as an Exceptional Item. - The Company had, issued 42,26,26,894 equity shares of face value of ₹ 10/- each ('Rights Equity Shares') to the Eligible Equity Shareholders at an issue price of ₹ 1,257 per Rights Equity Share (including premium of ₹ 1,247 per Rights Equity Share). The Rights Equity Shares were issued as partly paid-up and an amount of ₹ 314.25 per Rights Equity Share was payable on application (of which ₹ 2.50 towards face value of Rights Equity Share and ₹ 311.75 towards premium amount of Rights Equity Share).
There is no deviation in use of proceeds from the objects stated in the Offer document for rights issue.
Pursuant to IND AS 33, basic and diluted earnings per share for the previous periods have been restated for the bonus element in respect of right issue made during the quarter ended 30th June 2020.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 8 of 12
- On completion of the ongoing O2C expansions including J3 Projects, the management based on internal and external technical evaluation, reassessed the estimates relating to the life of Plant & Machinery. Basis the technical evaluation, the Company has revised the useful life of the assets to 50 years from the respective dates of commissioning, with effect from April 01, 2020.
- Deferred tax credit in Q1 FY21 is primarily due to planned restructuring of O2C business in the current year.
- Total Non-Convertible Debentures of the Company outstanding as on June 30, 2020 are ` 79,414 crore out of which, secured non-convertible debentures are ` 13,351 crore.
The listed Secured Non-Convertible Debentures of the Company aggregating ` 13,351 crore as on 30th June 2020 are secured by way of first charge on the Company's certain properties. The asset cover in respect of the Non-Convertible Debentures of the Company as on 30th June 2020 exceeds hundred percent of the principal amount of the said listed Non-Convertible Debentures.
During the quarter, the Company issued listed Unsecured Non-Convertible Redeemable Debentures amounting to ` 24,955 crore in four tranches (Series K, L, M and N) on private placement basis and redeemed listed Secured Non-Convertible Redeemable Debentures amounting to ` 500 crore (Series PPD -180 Tranche 1).
- Commercial Papers due for redemption during Q1 FY21, were duly repaid.
- The 'Retail' and 'Digital Services' have been distinct business segments of the company for the past few years and have been disclosed as segments in the consolidated segment results of the company. In accordance with decision taken by the Executive Committee (Chief Operating Decision Maker - CODM) of the Company, with effect from this quarter, the Company has disclosed 'Retail' and 'Digital Services' as a separate business segment in standalone results as well. The Company has restated segment information of all comparative previous periods in consonance with Ind AS 108 - Operating Segments", including related disclosures.
- The Audit Committee has reviewed the above results and the Board of Directors has approved the above results and its release at their respective meetings held on 30th July, 2020. The Statutory Auditors of the Company have carried out a Limited Review of the aforesaid results.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 9 of 12
UNAUDITED STANDALONE SEGMENT INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2020
(` in crore) | |||||||||||
Sr. | Quarter Ended | Year Ended | |||||||||
Particulars | (Audited) | ||||||||||
No. | |||||||||||
30 Jun'20 | 31 Mar'20 | 30 Jun'19 | 31 Mar'20 | ||||||||
1 | Segment Value of Sales and Services (Revenue) | ||||||||||
- | Petrochemicals | 24,189 | 31,403 | 36,179 | 140,896 | ||||||
- | Refining | 39,842 | 67,809 | 76,587 | 299,079 | ||||||
- | Oil and Gas | 80 | 160 | 490 | 1,639 | ||||||
- | Retail | 13 | 31 | 20 | 93 | ||||||
- | Digital Services | 259 | 403 | 145 | 1,025 | ||||||
- | Financial Services | 447 | 511 | 483 | 1,590 | ||||||
- | Others | 252 | 507 | 314 | 1,641 | ||||||
Gross Value of Sales and Services | 65,082 | 100,824 | 114,218 | 445,963 | |||||||
Less: Inter Segment Transfers | 12,819 | 20,298 | 17,351 | 79,786 | |||||||
Value of Sales & Services | 52,263 | 80,526 | 96,867 | 366,177 | |||||||
Less: GST Recovered | 1,817 | 3,299 | 3,748 | 14,322 | |||||||
Revenue from Operations | 50,446 | 77,227 | 93,119 | 351,855 | |||||||
2 | Segment Results (EBITDA) | ||||||||||
- | Petrochemicals | 4,325 | 6,002 | 8,570 | 30,416 | ||||||
- | Refining | 3,616 | 6,563 | 5,065 | 24,165 | ||||||
- | Oil and Gas | (6) | 43 | 268 | 738 | ||||||
- | Retail | 9 | 13 | 11 | 41 | ||||||
- | Digital Services | 216 | 201 | 119 | 651 | ||||||
- | Financial Services^ | 447 | 511 | 483 | 1,590 | ||||||
- | Others | 139 | 216 | 135 | 646 | ||||||
Total Segment Profit before Interest, Tax, Exceptional | 8,746 | 13,549 | 14,651 | 58,247 | |||||||
Item and Depreciation, Amortisation and Depletion | |||||||||||
3 | Segment Results (EBIT) | ||||||||||
- | Petrochemicals | 3,326 | 4,583 | 7,392 | 25,265 | ||||||
- | Refining | 2,724 | 5,686 | 4,421 | 21,156 | ||||||
- | Oil and Gas | (37) | 8 | 117 | 241 | ||||||
- | Retail | 6 | 10 | 8 | 29 | ||||||
- | Digital Services | 54 | 46 | 41 | 171 | ||||||
- | Financial Services^ | 447 | 511 | 483 | 1,590 | ||||||
- | Others | 131 | 146 | 99 | 519 | ||||||
Total Segment Profit before Interest and Tax | and | 6,651 | 10,990 | 12,561 | 48,971 | ||||||
Exceptional Item | |||||||||||
(i) | Finance Cost | (4,780) | (4,161) | (2,701) | (12,105) | ||||||
(ii) | Interest Income | 3,026 | 2,678 | 2,341 | 9,588 | ||||||
(iii) Other Un-allocable Income (Net of Expenditure) | (512) | (1,064) | (92) | (1,893) | |||||||
Profit Before Exceptional Item and Tax | 4,385 | 8,443 | 12,109 | 44,561 | |||||||
Exceptional Gain/(Loss) | 4,420 | (4,245) | - | (4,245) | |||||||
Profit Before Tax# | 8,805 | 4,198 | 12,109 | 40,316 | |||||||
(i) | Current Tax | (629) | (1,337) | (2,442) | (7,200) | ||||||
(ii) Deferred Tax | 1,577 | (281) | (631) | (2,213) | |||||||
Profit After Tax | 9,753 | 2,580 | 9,036 | 30,903 | |||||||
4 | Total EBITDA | 11,339 | 15,289 | 16,985 | 66,394 |
- Segment results (EBITDA and EBIT) of the financial services segment include interest income and interest expense relating to the segment.
# Profit before tax is after exceptional item and tax thereon and Tax expenses are excluding the current tax on exceptional item.
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 10 of 12
(` in crore) | |||||||
Sr. | Particulars | Quarter Ended | Year Ended | ||||
No. | (Audited) | ||||||
30 Jun'20 | 31 Mar'20 | 30 Jun'19 | 31 Mar'20 | ||||
5 | Segment Assets | ||||||
- | Petrochemicals | 122,958 | 124,634 | 117,456 | 124,634 | ||
- | Refining | 212,845 | 222,775 | 214,583 | 222,775 | ||
- | Oil and Gas | 46,128 | 43,792 | 34,740 | 43,792 | ||
- | Retail | 9,802 | 8,054 | 8,002 | 8,054 | ||
- | Digital Services | 203,874 | 211,443 | 84,828 | 211,443 | ||
- | Financial Services | 28,351 | 30,523 | 62,332 | 30,523 | ||
- | Others | 10,846 | 11,012 | 10,345 | 11,012 | ||
- | Unallocated | 340,564 | 316,679 | 239,696 | 316,679 | ||
Total Segment Assets | 975,368 | 968,912 | 771,982 | 968,912 | |||
6 | Segment Liabilities | ||||||
- | Petrochemicals | 10,048 | 10,066 | 12,987 | 10,066 | ||
- | Refining | 26,463 | 32,028 | 41,159 | 32,028 | ||
- | Oil and Gas | 5,916 | 5,768 | 5,391 | 5,768 | ||
- | Retail | 10 | 11 | 6 | 11 | ||
- | Digital Services | 169 | 238 | 379 | 238 | ||
- | Financial Services | - | - | - | - | ||
- | Others | 225 | 242 | 193 | 242 | ||
- | Unallocated | 932,537 | 920,559 | 711,867 | 920,559 | ||
Total Segment Liabilities | 975,368 | 968,912 | 771,982 | 968,912 |
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 11 of 12
Notes to Segment Information (Standalone) for the Quarter Ended 30th June, 2020
1. As per Indian Accounting Standard 108 'Operating Segments', the Company has reported 'Segment Information', as described below:
- The Petrochemicals segment includes production and marketing operations of petrochemical products namely, High density Polyethylene, Low density Polyethylene, Linear Low density Polyethylene, Polypropylene, Polyvinyl Chloride, Polyester Yarn, Polyester Fibres, Purified Terephthalic Acid, Paraxylene, Ethylene Glycol, Olefins, Aromatics, Linear Alkyl Benzene, Butadiene, Acrylonitrile, Poly Butadiene Rubber, Styrene Butadiene Rubber, Caustic Soda, Polyethylene Terephthalate, High Purity Iso-Butylene and Composites.
- The Refining segment includes production and marketing operations of the petroleum products.
- The Oil and Gas segment includes exploration, development, production of crude oil and natural gas.
- The Retail segment includes consumer retail & its range of related services and investment in retail business.
- The Digital Services segment includes provision of a range of digital services and investment in digital business.
- The Financial Services segment comprises of management and deployment of identified resources of the Company to various activities including non-banking financial services, insurance broking.
- All other business segments have been grouped under the others segment.
- Other investments / assets, long term resources raised by the Company, business trade financing liabilities managed by the centralized treasury function and related income and expense are considered under Unallocated.
For Reliance Industries Limited
Mukesh D Ambani
Chairman & Managing Director
July 30, 2020
Registered Office: | Corporate Communications | Telephone | : (+91 22) 2278 5000 | |
Maker Chambers IV | Maker Chambers IV | Telefax | : (+91 22) 2278 5185 | |
3rd Floor, 222, Nariman Point | 9th Floor, Nariman Point | Internet | : | www.ril.com; investor.relations@ril.com |
Mumbai 400 021, India | Mumbai 400 021, India | CIN | : | L17110MH1973PLC019786 |
Page 12 of 12
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Reliance Industries Ltd. published this content on 30 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2020 15:50:05 UTC