Key Points
Reliance Industries invested over $125 billion in the last ten years in a massive push for its hydrocarbon and telecom businesses, Goldman Sachs said, adding that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy...
"The company has invested nearly USD 30 billion between FY13-18 to increase scale, integration and cost competitiveness of the O2C (oil to chemical) business, and close to USD 60 billion between FY13-24E in 4G/5G capabilities to create a high-growth telecom business," Goldman Sachs said in a deep dive report on Reliance...
"We believe the businesses RIL is investing more in the next 3 years (retail and upstream new energy) are relatively less capex heavy, higher in returns and have a shorter gestation period," it said...
"RIL has invested over USD 125 bn in capex in the last 10 years, mostly in hydrocarbon and telecom, which are more capex intensive and have a longer gestation period," it said..
It saw RIL's capex in new energy taking place in two phases - first on upstream manufacturing, where it has planned USD 10 billion for completing fully integrated solar and battery manufacturing plants (largely by FY27-end)...
