New Street Research - Reliance Industries (RILIN) Reliance Industries (Buy, TP: INR 1,700, +26%) Q4 FY25 Quick Take: Strong topline delivery by Retail and O2C; sustained profit growth at Jio

Report

New Street Research

Chris Hoare

EUR 8797.00 For Business Accounts Only

Reliance Industries (Buy, TP: INR 1,700, +26%) Q4 FY25 Quick Take: Strong topline delivery by Retail and O2C; sustained profit growth at Jio

Reliance Industries closed off FY25 with strong Retail and O2C topline growth, alongside continued strength in Jio’s profitability. The company has also proposed a INR 5.5 dividend per share, which was in-line with expectations.

28/04/2025 1 EN

Underlying

Reliance Industries

See profile

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Chris Hoare

Other Reports on these Companies

New Street Research

EM FWA-Watch S-Curve continuing to accelerate in India, with implications for EM generally

Indian FWA net adds continue to accelerate and reached roughly c. 2.1m in the December quarter. India is probably therefore now accounting for around 50% of global shipments. We continue to think this is a critical development, and likely to drive an S-curve of adoption in Global EM.

EUR 8797.00

February 20, 2025 February 20, 2025 1 EN

New Street Research

Reliance Industries Ltd (Buy, INR 1,700, +32%) Q3 FY25 Quick Take: Turnaround in Retail and O2C; FWA taking off

Reliance Industries posted strong results yesterday, backed by the turnaround in Retail during the festive period and recovery in O2C margins. Jio remained the bright spot as ARPU accelerated and crossed the INR 200 mark. Momentum continues to build for broadband as Jio AirFiber reached 4.5m.

EUR 8797.00

January 17, 2025 January 17, 2025 1 EN

Alphabet (GOOGL, Buy, $210 target) Breaking down the China

We raise our target to $210 from $200 on higher adj. EBITDA and EPS, partially offset by lower FCF.

EUR 8797.00

20m 20m 1 EN

Pierre FerraguÊ

Pierre FerraguÊ

Autos & Industrials, AI re-platforming, HBM, Tesla, Intel, LAM, and more. Our weekly wrap-up.

As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 21 names we followed last week, follow the link below.

1h / 11m 1h / 11m 1 EN

Chris Hoare

Chris Hoare

South African Telcos Continuous (modest) improvements; CY24 H2 review

H2 was a better semester for the SA Telcos. Service revenue and KPI trends continued to (modestly) improve and capex intensity continued to reduce.

EUR 8797.00

5h / 50m 5h / 50m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Reliance Industries (Buy, TP: INR 1,700, +26%) Q4 FY25 Quick Take: Strong topline delivery by Retail and O2C; sustained profit growth at Jio

EM FWA-Watch S-Curve continuing to accelerate in India, with implications for EM generally

Reliance Industries Ltd (Buy, INR 1,700, +32%) Q3 FY25 Quick Take: Turnaround in Retail and O2C; FWA taking off

Alphabet (GOOGL, Buy, $210 target) Breaking down the China

Autos & Industrials, AI re-platforming, HBM, Tesla, Intel, LAM, and more. Our weekly wrap-up.

South African Telcos Continuous (modest) improvements; CY24 H2 review

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe