Anil Ambani is an Indian businessman who serves as the chairman and managing director of the Reliance Group. He had a remarkable business career, marked by both successes and challenges. However, in recent years he has faced significant financial difficulties, resulting in legal battles over debt repayment.
Despite these challenges, Anil Ambani has remained an influential figure in the Indian business landscape. He has been actively involved in promoting clean energy initiatives, affordable housing, and entrepreneurship in the country.
Listed below are Reliance Group stocks financial performance during Q4FY24:
Reliance Power Ltd
With a market capitalization of Rs.10,259.34 crores, the shares of the power generation company started Monday trading session on a higher note at Rs. 25.43 compared to its previous close of Rs.25.00. During the trading session, the shares hit a high of Rs. 26.43, gaining around 5.64 percent.
Looking at the company’s financial performance during the latest quarter, the revenue increased by around 3 percent from Rs. 1,946.58 crores during the December quarter to Rs. 1,946.58 crores to Rs. 1,996.65 crores in the March quarter. On the other hand, the company decreased its net loss from Rs. 1,136.75 crores to Rs. 397.56 crores during the same period.
Comparing the same metrics on a YoY basis, the revenue jumped by 15 percent from Rs. 1,729.84 crores during Q4FY23 to Rs. 1,996.65 crores in Q4FY24. On a contrasting note, the net profit showcased a transition from a net profit of Rs. 256.91 crores to a net loss of Rs. 397.56 crores during the same timeframe.
In the March quarter, Foreign Institutional Investors increased their stake by 4.64 percent from 8.37 percent to 13.01 percent. Concurrently, Promoters maintain a 23.24 percent stake, DIIs hold 4.94 percent of the stake and the public holds the remaining 58.80 percent of the company’s shares during the same period.
According to the sources, the company cleared debts owed to three banks i.e., ICICI Bank, DBS Bank and Axis Bank, while Reliance Infrastructure, the parent company, is working towards clearing the dues of around Rs. 2,100 crore to JC Flowers Asset Reconstruction Company.
Furthermore, as reported by ET, Reliance Power is aiming to become a debt-free company, with the working capital loan from IDBI Bank remaining the only debt on the company’s books following this repayment.
Additionally, the three lenders had a combined exposure of about Rs. 400 crores to Reliance Power and have recovered between 30 to 35 percent of their principal loans.
Reliance Power, a part of the Reliance Group, is engaged in the business of developing, constructing and operating power projects both in India as well as internationally. The company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development.
Reliance Infrastructure Ltd
With a market capitalization of Rs. 7,425 crores, the shares of the infrastructure company started Monday’s trading session on a higher note at Rs.182.40 compared to its previous close of Rs. 167.75.
Coming onto the company’s financial statements, the revenue increased marginally by 0.60 percent from Rs. 4,657.33 crores during the December quarter to Rs. 4,685.96 in the March quarter. On the other hand, the net losses of the company decreased from 21.58 crores to Rs. 5.43 crores during the same timeframe.
Comparing the same metrics on a YoY basis, the revenue increased by around 13 percent from Rs. 4,159.27 crores during Q4FY23 to Rs. 4,685.96 crores in Q4FY24. In addition, the company narrowed down the net losses from Rs. 2,564.18 crores to Rs. 5.43 crores during the same period.
According to the latest shareholding pattern, Ace Investor Mr Vijay Kedia bought a fresh stake in the company’s shares during the recent quarter by acquiring approximately 40 lakh equity shares equivalent to 1.01 percent and the current holding value of his investment amounts to Rs. 63.1 crores.
Reliance Infrastructure Ltd. is engaged in developing infrastructure projects through various Special Purpose Vehicles (SPVs) in several sectors such as power, roads, metro rail and airports in the infrastructure space and the defence sector.
Written By Vaibhav Patil
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