Reliance likely to clock $20 bn EBITDA by end 2022: Morgan Stanley
A refining golden age, tightening global gas markets and improving telecom subscriber quality point to a USD 20 billion-plus EBITDA run rate for Reliance Industries Ltd by end-2022, Morgan Stanley said Monday.
Post becoming the first company to hit USD 100 billion revenue in the fiscal year ended March 31, “Reliance is on a path toward a USD 20 billion+ EBITDA run rate inflection, with five-pronged support” of high refining margin, telecom revenue per user rising, global gas market tightening, rising traction on digital commerce and superior petrochemical spreads, it said in a note.
On Friday, Reliance Industries Ltd (RIL) reported a consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) — a measure of a company’s overall financial performance — of Rs 1,25,687 crore (USD 16 billion) for April 2021 to March 2022 fiscal (FY22), up 29 per cent year on year.
