Reliance Retail Limited Unlisted Shares
RELIANCE RETAIL LIMITED
RELIANCE RETAIL LIMITEDReliance Retail Limited is a daughter company of Reliance Industries Limited. Founded in 2006, it’s the largest retailer in India in terms of revenue. Mukesh Ambani is the Founder of Reliance Retail and V Subramaniam is CEO. Its retail outlets offer apparel and footwear, foods, groceries, lifestyle and home improvement products, electronic goods, and farm implements and inputs. Its target on consumer goods, consumer durables, energy, travel services, Internet, entertainment and leisure, health and well-being products with educational products and services. Reliance Retail Limited had a total of 7,573 stores in August 2019 in India with an area of over 17.7 million square feet across 750 cities, with yearly revenue of over ₹690 billion ($10 bn US).
Reliance Retail Limited. CIN: U01100MH1999PLC120563.
Registered Office: 3rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai-400 002.
(i) Reliance Retail is the retail initiative of the Reliance group and is central to consumer-facing businesses. It has in a short time forged strong and enduring bonds with millions of consumers by providing them an unlimited choice, outstanding value proposition, superior quality and unmatched experience across all its stores.
(ii) Reliance Retail has adopted a multi-prong strategy and operates a chain of neighborhood stores, supermarkets, wholesale cash & carry stores, specialty stores, and online stores and has democratized access to a variety of products and services across diverse segments for Indian consumers.
(iii) Serving the food and grocery category Reliance Retail operates Reliance Fresh, Reliance Smart and Reliance Market stores.
In the consumer electronics category Reliance Retail operates Reliance Digital, Reliance Digital Express Mini stores, and Jio stores,
In fashion & lifestyle category it operates Reliance Trends, Trends Women, Project Eve, Reliance Footprint, Reliance Jewels and AJIO.com in addition to a large number of partner brand stores across the country.
(iv) The operating model is based on customer-centricity while leveraging common centers of excellence in technology, business processes, and supply chain. More importantly, it has built a strong and unwavering foundation through its extraordinary people. The nationwide network of retail stores offers a world-class shopping environment and unmatched customer experience.
(v) Reliance Retail has emerged as the partner of choice for international brands and has established exclusive partnerships with many revered international brands such as Diesel, Superdry, Hamleys, Ermenegildo Zegna, Marks and Spencer, Paul & Shark, Thomas Pink, Kenneth Cole, Brooks Brothers, Steve Madden, Payless Shoesource, Grand Vision and many more.
(vi) Reliance Retail reported a turnover of Rs. 1,30,566 crore for the financial year 2018-19. As on 31st Mar 2019, Reliance Retail operates 10,415 stores across 6,600+ cities with a retail area of over 22 million sq.ft.
(viii) Reliance Retail Ventures Limited, a subsidiary of Reliance Industries Limited is the holding company of Reliance Retail Limited which operates the retail business.
Reliance Retail Business Performance Report
Reliance Retail Limited Unlisted Shares Details:
| Total Available Shares: | 100 |
| Face Value: | ₹ 10 Per Equity Share |
| ISIN: | INE742O01010 |
| Lot Size: | 100 Shares |
| Current Unlisted Share Price: | ₹ Per Equity Share |
Financial Results
The Company’s financial performance (standalone) for the financial year ended March 31, 2021 is summarized below:
(`crore)
| Particulars | 2020-21 | 2019-20 |
| Revenue from operations | 1,49,924.89 | 1,46,724.25 |
| Other Income | 239.08 | 260.35 |
| Profit before Interest, Depreciation and Tax | 8,322.17 | 9,399.30 |
| Less: Interest | 693.03 | 867.03 |
| Depreciation | 1,447.58 | 1,108.85 |
| Profit before tax | 6,181.56 | 7,423.42 |
| Less: Current tax | 1,585.15 | 998.28 |
| Deferred tax | 9.55 | 885.35 |
| Profit for the year | 4,586.86 | 5,539.79 |
| Add: Other Comprehensive Income | 1.37 | (12.90) |
| Total Comprehensive Income of the year | 4,588.23 | 5,526.89 |
| Add: Balance in Profit & Loss Account | 11,358.45 | 5,831.56 |
| Less: Appropriation | – | – |
| Closing Balance (including other comprehensive income) | 15,946.68 | 11,358.45 |
Promoters And Management:
Reliance Retail Ventures Limited ( Holding Company) holds 99.95% shares in Reliance Retail.
Financials of Reliance Retail Limited Unlisted Shares:
Figures in Crores
| PARTICULARS | AS AT 31 MARCH 2021 | AS AT 31 MARCH 2020 |
| Equity share capital | 4,990.42 | 4,990.40 |
| Total Equity | 25,464.57 | 18,270.98 |
| Earnings per equity share | 4.93 | 8.88 |
BUSINESS OVERVIEW
Reliance Retail was founded with a view to revolutionise retail in India. Today, it is the largest, fastest growing and most profitable retail company in India with diversified omni-channel presence through integrated store concepts and digital commerce platforms. It is the only Indian retailer to feature in the list of ‘Global Powers of Retailing’.
As a market leader, Reliance Retail caters to five key consumption baskets – 1) Consumer Electronics, 2) Fashion & Lifestyle, 3) Grocery, 4) Pharma Retail and 5) Connectivity.
COVID-19 PANDEMIC
Considering the Covid-19 pandemic, the Ministry of Corporate Affairs (“MCA”) has, vide its circular dated May 5, 2020 read together with circulars dated April 8, 2020, April 13, 2020 and January 13, 2021 (collectively referred to as “MCA Circulars”) permitted convening the Annual General Meeting (“AGM” / “Meeting”) through Video Conferencing (“VC”) or Other Audio Visual Means (“OAVM”), without physical presence of the members at a common venue. In accordance with the MCA Circulars and the provisions of the Companies Act, 2013 (“the Act”), the AGM of the Company is being held through VC / OAVM. The deemed venue for the AGM shall be the Registered Office of the Company.
Analysis of FY19-20 Results
- Reliance Retail has shown revenue growth of 28% in FY19-20 as compared to last year.
- The EBITDA has gone up from 6064 Crores last year to 9405 Crores in FY19-20. Excellent growth in EBITDA.
- PAT is up by 75% in FY19-20 as compared to last year.
- Reliance Retail has reduced the debt from 12800 Crores last year to 4665 Crores in FY19-20. D/E = 0.25 (comfortable).
- Current Ratio = 0.92. Anything below one is generally not a good sign.
Valuation of Reliance Retail:
(i) Mcap – 13 Lakh Crores (at CMP of 2600).
(ii) EV – 13.14 Lakh Crores
(iii) EBITDA – 8312 Crores (Based on FY21 Financials)
(iv) EV/EBITDA – 158 (v) Mcap/Revenue – 10x
Peer Comparison:
| Avenue Super Mart Snapshot (Figures in Crores) | ||||||||
| Year | Revenue | EBITDA | OPM | PAT | NPM | Equity | EPS | |
| 2015 | 6,457 | 477 | 7.40% | 211 | 3.30% | 561 | 4 | |
| 2016 | 8,601 | 682 | 7.90% | 320 | 3.70% | 561 | 6 | |
| 2017 | 11,926 | 1011 | 8.50% | 478 | 4.00% | 624 | 8 | |
| 2018 | 15,102 | 1423 | 9.40% | 806 | 5.30% | 624 | 13 | |
| 2019 | 20,052 | 1682 | 8.40% | 902 | 4.50% | 624 | 14 | |
| 2020 | 24,930 | 2189 | 8.70% | 1300 | 5.21% | 647 | 20 | |
| 2021 | 24143 | 1855 | 7% | 1100 | 4.55% | 648 | 17 | |
Valuation of Avenue Super Mart:
- Reliance Retail Limited Annual Report 2020-21
- Reliance Retail Limited Annual Report 2019-20
- Reliance Retail Limited Annual Report 2018-19
- Reliance Retail Limited Annual Report 2017-18
- Reliance Retail Limited Annual Report 2016-17
- Reliance Retail Limited Annual Report 2015-16
- Reliance Retail Limited Annual Report 2014-15
Reliance Retail Share Price, Unlisted Shares, Pre IPO Stock – Company Overview
Reliance Retail Limited is the retail initiative of Reliance Industries Limited and is the face of the Reliance group’s consumer-oriented business. Reliance Retail has played a major role in bringing about the organized retail revolution in India. Reliance Retail Limited has been successful in making strong and enduring bonds with its customers by providing them with unlimited choices, outstanding value propositions, the best quality, and a great shopping experience across its stores.
Unlisted Shares of Reliance Retail are available in Indian Private Markets, & the Share Price of Reliance retail is highly volatile due to Demand & Supply Mismatch.
Reliance Retail Limited has been ranked as the fastest-growing retailer in the world. It secured 56th rank in the list of Top Global Retailers and is the only Indian Retailer to get a position in the list. Reliance retail is the largest and most successful retailer in India.
Reliance Retail Limited has over 1,400 lakhs of loyal customers shopping across all its segments. With over 1,60,000 transactions per hour, reliance retail has become the unmatchable performer in the Retail Industry of India.
In the Grocery segment, Reliance Retail Limited operates Reliance Fresh, Shree Kannan Departmental stores, SMART, and Smart Point stores. In the Consumer Electronics segment, Reliance Retail Limited operates Reliance Digital and MyJio Stores. And in the Fashion and Lifestyle segment, Reliance Retail Limited operates Trends, Trends Woman, Trends Man, Trends Footwear, Project Eve, Reliance Jewels, Hamleys, and a portfolio of more than 40 International brands. For the Fashion and Lifestyle segment, the company has also made a presence in e-commerce through AJIO.com.
On 31st January 2021, Reliance Report Limited is operating 12,201 stores across 7,000+ cities in India. The company employs more than 1,80,000 people. It also has more than 300 Distribution centers across 23 States of India. Reliance Retail Limited also owns warehousing space of more than 10 million square feet.
In 2020, Reliance Retail Limited, along with Jio Platforms, launched “JioMart”, India’s largest Hyperlocal Solution. JioMart delivers grocery and daily essentials from nearby stores.
Reliance Retail Share Price, Unlisted Share Details as of March 31, 2023
| Reliance Retail Outstanding Shares Including CCPS: | 9,32,48,39,513 |
| Face Value of Reliance Retail Unlisted Share: | Rs. 10 Per Equity Share |
| ISIN of Reliance Retail Unlisted Share: | INE742O01010 |
| Lot Size of Reliance Retail Unlisted Share: | 100 Shares |
| Reliance Retail Share Price: | Best in Industry |
| PAN Number of Reliance Retail: | AABCR1718E |
Reliance Retail Limited Incorporation Details
Reliance Retail Limited CIN Number | U01100MH1999PLC120563 |
Reliance Retail Limited Registration Date | 29-Jun-99 |
Category / Sub-Category of Reliance Retail | Public Companies having a share capital |
Reliance Retail Registered Office Address | 3rd Floor, Court House, Lokmanya Tilak Marg, Dhobi Talao, Mumbai – 400002 Tel: +91 22 35553800 |
Reliance Retail Registrar & Transfer Agent Address Contact Details | K Fin Technologies Private Limited, (Formerly known as Karvy Fintech Private Limited) Selenium Tower B, Plot 31-32, Gachibowli, Financial District Nanakramguda, Hyderabad – 500 032 |
Reliance Retail Limited Board of Directors
V. Subramaniam (Whole- Time Director)
Pankaj Pawar (Non-Executive Chairman)
Sanjay Jog (Non-Executive Director)
Ranjit V. Pandit (Non-Executive Director)
Dipak C. Jain (Non-Executive Director)
K. Sridhar (Company Secretary)
Geeta Fulwadaya (Non-Executive Director)
Dinesh Taluja (Chief Financial Officer)
Reliance Retail Ltd Principal Business Activities
| Name and Description of main products/services | NIC Code of the product/service* | % to the total turnover of the Company |
| Retail sale of food products, apparel, consumer durables, and other products | 477 | 90.27% |
Reliance Retail’s Particulars of Holding, Subsidiaries, & Associate Companies
| Name of the Company | Subsidiary | % of shares held |
| Reliance Industries Limited | Ultimate Holding | 85 |
| Reliance Retail Ventures Limited | Immediate Holding | 99.93 |
| Reliance Clothing India Private Limited | Subsidiary | 100 |
| Reliance – Grand Optical Private Limited | Subsidiary | 100 |
| Reliance Petro Marketing Limited | Subsidiary | 100 |
| Reliance-Vision Express Private Limited | Associate | 50 |
| Reliance- Grand Vision India Supply Private Limited | Associate | 50 |
| Marks and Spencer Reliance India Private Limited | Associate | 49 |
Reliance Retail Limited Shareholding Pattern (As of 31-03-2023)
| S. No. | Shareholder’s Name | No. of Shares | % of total Shares of the company |
| 1 | Reliance Retail Ventures Limited (Promoter) | 4,98,70,26,060 | 99.93% |
| 2 | Public Shareholding | 33,96,453 | 0.07% |
| Total | 4,99,04,22,513 | 100% |
Retail Industry Outlook
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10% of the country’s gross domestic product (GDP) and around 8% of employment. India is the world’s fifth-largest global destination in the retail space. India ranked 73 in the United Nations Conference on Trade and Development’s Business-to-Consumer (B2C) E-commerce Index 2019. India is the world’s fifth-largest global destination in the retail space and ranked 63 in the World Bank’s Doing Business 2020.
The sizeable middle class and nearly unexplored retail market in India are the main enticing factors for international retail behemoths seeking to move into newer markets, which will help the Indian retail business grow more quickly. The urban Indian consumer’s purchasing power is increasing, and branded goods in categories like apparel, cosmetics, footwear, watches, beverages, food, and even jewelry are gradually evolving into business and leisure that are well-liked by the urban Indian consumer. According to a recent Boston Consulting Group (BCG) analysis, India’s retail sector is expected to be worth $ 2 trillion by 2032
Reliance Retail Limited Balance Sheet (In Rs. Crore)
| Particulars | As at 31 March 2023 | As at 31 March 2022 |
| Assets: | ||
| Non-Current Assets | ||
| Property, Plant, and Equipment | 39,311.81 | 14,104.86 |
| Other Intangible Assets | 14,277.52 | 2,775.99 |
| Capital Work-in-Progress | 24,442.22 | 11,888.04 |
| Goodwill | 2.90 | 90.03 |
| Intangible Assets Under Development | 1,322.94 | 11,839.66 |
| Financial Assets | ||
| Investments | 1.09 | 482.58 |
| Other Financial Assets | – | 1.48 |
| Other Non-Current Assets | 4,664.60 | 6,547.68 |
| Total Non-Current Assets | 84,023.08 | 47,730.32 |
| Current Assets | ||
| Inventories | 24,969.10 | 20,072.07 |
| Financial Assets | ||
| Investments | 262.05 | 481.89 |
| Trade Receivables | 5,520.17 | 8,833.93 |
| Cash and Cash Equivalents | 401.38 | 466.42 |
| Other Financial Assets | 3,195.61 | 2,693.30 |
| Other Current Assets | 10,088.45 | 8,452.92 |
| Total Current Assets | 44,436.76 | 41,000.53 |
| Total Assets | 1,28,459.84 | 88,730.85 |
| Equity and Liabilities: | ||
| Equity | ||
| Equity Share Capital | 4,990.42 | 4,990.42 |
| Financial Assets | 32,232.41 | 25,421.62 |
| Total Equity | 37,222.83 | 30,412.04 |
| Liabilities | ||
| Non-Current Liabilities | ||
| Borrowings | 44,569.04 | 12,135.91 |
| Lease Liabilities | – | 8.55 |
| Provisions | 86.85 | 68.49 |
| Deferred Tax Liabilities (Net) | 2,381.34 | 1,458.82 |
| Total Non-Current Liabilities | 47,037.23 | 13,671.77 |
| Current Liabilities | ||
| Borrowings | 26,368.68 | 28,735.44 |
| Lease Liabilities | – | 1.50 |
| Trade Payables | 15,488.76 | 12,990.01 |
| Other Financial Liabilities | 971.90 | 1,417.44 |
| Other Current Liabilities | 1,362.73 | 1,497.57 |
| Provisions | 7.71 | 5.08 |
| Total Current Liabilities | 44,199.78 | 44,647.04 |
| Total Liabilities | 91,237.01 | 58,318.81 |
| Total Equity and Liabilities | 1,28,459.84 | 88,730.85 |
Reliance Retail Limited Profit & Loss Statement (In Rs. Crore)
| PARTICULARS | 2023 | 2022 |
| I. Revenue from Operations | 2,23,826.28 | 1,70,133.32 |
| II. Other Income | 59.96 | 21.78 |
| III. Total Income (I+II) | 2,23,886.24 | 1,70,155.10 |
| IV Expenses | ||
| Cost of Materials Consumed | 0.01 | 0.04 |
| Purchases of Stock-in-Trade | 1,97,728.78 | 1,55,092.28 |
| Changes in Inventories of Finished Goods and Stock-in-Trade | -4,577.33 | -7,607.12 |
| Employee Benefits Expense | 2,083.94 | 1,522.51 |
| Finance Costs | 3,925.72 | 1,985.88 |
| Depreciation and Amortisation Expenses | 2,992.16 | 1,794.24 |
| Other Expenses | 12,398.60 | 10,791.69 |
| Total Expenses (IV) | 2,14,551.88 | 1,63,579.52 |
| V. Profit before Exceptional items and tax | 9,334.36 | 6,575.58 |
| VI. Exceptional Items | 13.42 | 9.48 |
| VII. Profit before Tax (V+VI) | 9,347.78 | 6,585.06 |
| VIII. Tax Expense | ||
| 1) Current Tax | 1,410.24 | 1,118.29 |
| 2) Deferred Tax | 928.72 | 529.14 |
| IX. Profit for the Year (VII-VIII) | 7,008.82 | 4,937.63 |
| Other Comprehensive Income (OCI) | ||
| (i) Items that will not be reclassified to Statement of Profit or Loss | -71.10 | -2.90 |
| (ii) Income tax relating to items that will not be reclassified to Statement of Profit and loss | -2.71 | 0.73 |
| (iii) Items that will be reclassified to Statement of Profit or Loss | -21.66 | 16.69 |
| (iv) Income tax relating to items that will be reclassified to Statement of Profit and loss | 1.39 | 4.20 |
| Total Other Comprehensive Income / (loss) for the Year [Net of Tax] | -94.08 | 10.32 |
| Total Comprehensive Income for the Year | 6,914.74 | 4,947.95 |
| Net Profit Attributable to: | ||
| (a) Owners of the Company | 7,008.82 | 4,937.63 |
| (b) Non Controlling Interest | ||
| Other Comprehensive Income attributable to: | ||
| (a) Owners of the Company | -94.08 | 10.32 |
| (b) Non Controlling Interest | ||
| Total Comprehensive Income attributable to: | ||
| (a) Owners of the Company | 6,914.74 | 4,947.95 |
| (b) Non Controlling Interest – – | ||
| XII. Earnings per Equity share (Face Value Per Share) | ||
| a) Basic (Rs.) | 13.17 | 9.28 |
| b) Diluted (Rs.) | 7.52 | 5.30 |
RELIANCE RETAIL Limited’s Cash Flow Statement (In Rs. Crores)
| Particulars | 31st March 2023 | 31 March 2022 |
| A. Cash Flow from Operating Activities | ||
| Net Profit before Tax | 9,347.78 | 6,585.06 |
| Adjusted for: | ||
| Loss on sale/ discarding of Property, Plant and Equipment (net) | -7.76 | 8.45 |
| Depreciation and Amortisation Expense | 2,992.16 | 1,794.24 |
| Effect of Exchange Rate Change | 6.11 | 2.93 |
| Net Gain on Financial Assets | 16.51 | -5.94 |
| Share of (Profit)/Loss of Joint Venture | -13.42 | -9.48 |
| Interest Income | -20.48 | -6.81 |
| Finance Costs | 3,925.72 | 1,985.87 |
| Subtotal | 6,898.84 | 3,769.26 |
| Operating Profit before Working Capital Changes | 16,246.62 | 10,354.32 |
| Adjusted for: | – | – |
| Trade and Other Receivables | -1,610.19 | -6,297.16 |
| Inventories | -4,897.03 | -7,717.28 |
| Trade and Other Payables | 2,067.17 | 6,497.16 |
| Subtotal | -4,440.05 | -7,517.28 |
| Cash Generated from Operations | 11,806.57 | 2,837.04 |
| Taxes Paid (Net) | -2,031.25 | -1,162.61 |
| Net Cash generated from Operating Activities | 9,775.32 | 1,674.43 |
| Cash Flow From Investing Activities (B): | ||
| Purchase of Property, Plant and Equipment and Other Intangible Assets | -36,320.92 | -20,354.30 |
| Proceeds from disposal of Property,Plant & Equipment and Intangible Assets | 34.72 | 7.46 |
| Purchase of Financial Assets | -107.45 | -389.08 |
| Proceeds from Sale of Financial Assets | 597.31 | 250.00 |
| Movement in Loans & Advances and other assets (Net) | 399.62 | -5,223.46 |
| Interest Income | 14.66 | 4.92 |
| Net Cash Flow used in Investing Activities | -35,382.06 | -25,704.46 |
| Cash Flow From Financing Activities (C): | ||
| Proceeds from Borrowings – Non Current | 32,433.13 | 12,041.04 |
| Borrowings Current (Net) | -2,366.76 | 13,989.56 |
| Payment of Lease Liabilities | – | -1.33 |
| Interest Paid | -4,521.40 | -1,892.37 |
| Net Cash generated from Financing Activities | 25,544.97 | 24,136.90 |
| Net (Decrease)/ Increase in Cash and Cash Equivalents | -61.77 | 106.87 |
| Opening Balance of Cash and Cash Equivalents | 466.42 | 359.55 |
| Less: Upon de-subsidisation of Subsidaries | -3.27 | |
| Closing Balance of Cash and Cash Equivalents | 401.38 | 466.42 |
Reliance Retail Key Financial Ratios (Standalone)
| Particulars | 31-Mar-23 | 31-Mar-22 |
| Current Ratio (in times) | 1.01 | 0.91 |
| Debt-Equity Ratio (in times) | 1.91 | 1.35 |
| Debt Service Coverage Ratio (in times) | 3.35 | 4.33 |
| Return on Equity Ratio (in %) | 20.85% | 17.75% |
| Inventory Turnover Ratio (in times) | 8.74 | 9.19 |
| Trade Receivables Turnover Ratio (in times) | 35.18 | 26.1 |
| Trade Payable Turnover Ratio (in times) | 14.76 | 16.07 |
| Net Capital Turnover Ratio (in times) | 9.47 | 7.81 |
| Net Profit Ratio (in %) | 2.80% | 2.55% |
| Return on Capital Employed Ratio (in %) | 17.87% | 19.28% |
Reliance Retail Share Dividend History
| Particulars | 2023 | 2022 | 2021 |
| Dividend per Share | 0 | 0 | 0 |
| Retained Earnings (In Rs. Crores) | 279.90 | 210.85 | 161.5 |
Reliance Retail Limited ‘s Recent Financial Performance
Revenue Growth: The company ‘s revenue increased from ₹1,70,133.32 in FY 2021-22 to ₹2,23,826.28 in FY 2022-23, indicating a revenue increase of approximately 31%. This suggests an increase in sales or service income.
Expenses: While the company ‘s total expenses increased from ₹1,63,579.52 in FY 2021-22 to ₹2,14,551.88 in FY 2022-23, it ‘s essential to note that the increase in revenue outpaced the increase in expenses. Hence, the company appears to have made a profit in both years, with an increase in profit from FY 2021-22 to FY 2022-23.
Earnings per Share (EPS): EPS measures the earnings attributable to each equity share. It increased from ₹9.28 in FY 2021-22 to ₹13.17 in FY 2022-23.
Liquidity: The current ratio increased from 0.91 in FY 2021-22 to 1.01 in FY 2022-23, indicating an improvement in liquidity. A current ratio above 1 suggests that the company may be better positioned to cover its short-term liabilities with its current assets.
Leverage: The debt-equity ratio increased from 1.354 in FY 2021-22 to 1.91 in FY 2022-23, suggesting an increased reliance on debt for financing.
