A 1% Increase in Reliance Industries’ Share Price Follows this Announcement
Following the announcement that its step-down wholly-owned subsidiary, Nauyaan Tradings Private Limited (NTPL), had completed the purchase of a 74% equity stake in Nauyaan Shipyard Private Ltd (NSPL) from Welspun Corp Limited for ₹382.73 crore, Reliance Industries’ share price increased by more than 1% during Monday’s trading session. Shares of Reliance Industries were trading at ₹1,293.25 each on the National Stock Exchange (NSE) at 10:47 p.m.
In a stock exchange filing, RIL stated that Nauyaan Tradings Private Limited (NTPL), a step-down wholly owned subsidiary of the company, had notified the company that it had successfully acquired a 74% equity stake in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp Limited for a total consideration of ₹382.73 crore.
Nauyaan Shipyard Private is now an indirect subsidiary of RILdue to this deal. Before the transaction, NTPL had given NSPL an arm’s-length unsecured loan of 93.66 crore. RIL stated that applications are being sent to the appropriate authorities to get the required permits under NSPL’s current agreements.
Reliance Industries’ consolidated net profit for the third quarter was ₹18,540 crore, up 7% year-over-year (YoY) from ₹17,265 crore during the same time the previous year. From ₹2.25 lakh crore in Q3FY24 to ₹2.40 lakh crore for the quarter, the company’s consolidated revenue increased 6.7% yearly.
The EBITDA margin improved to 18.3 percent from 18.1 percent, while earnings before interest, tax, depreciation, and amortization (EBITDA) increased 7.7 percent to ₹43,789 crore from ₹40,656 crore in the previous year’s quarter.
In Q3FY25, RIL’s main O2C business recorded sales of ₹1.49 lakh crore, up from ₹1.41 lakh crore at the same time the previous year. EBITDA for the category increased from ₹14,064 crore to ₹14,402 crore from a year earlier. Nonetheless, the EBITDA margin decreased from 10% YoY to 9.6%.
