“As expected, the smartphone was also announced and so was the induction of ARAMCO chairman into RIL’s board.
“We incorporate the annual report and while our EBITDA estimates are broadly unchanged, we assume another year of lower tax rate in FY22 which drives reported EPS higher by 14%.
On Thursday, RIL pledged to invest ₹75,000 crore in clean energy, becoming the latest oil company to announce a mega push into renewables.
“Focus on the execution plan of building a New Energy & materials ecosystem along with decarbonizing and repurposing existing O2C business is a multi-decade growth path that is unlikely to be easy.