The global brokerage estimates that Reliance Retail may see earnings (in terms of topline) grow at a compounded annual growth rate (CAGR) of 24% between financial years 2024 and 2026. Between financial years 2020 and 2023, Reliance Retail grew at a CAGR of about 19% in terms of topline. Earnings before interest tax depreciation and amortisation (Ebitda) grew at a pace of about 30% between FY20 and FY23, with Morgan Stanley estimating that this may accelerate as Reliance Retail drives scale in its business.
"Historically, Reliance Industries has outperformed estimates, when there was tangible evidence of revenue. We expect a ramp-up in revenue to start by the end of 2023, with sustained growth over the course of the next year," Morgan Stanley said in its report dated August 24 about the retail business.
Reliance Industries (RIL) is expected to make some significant announcements with regard to its retail business at its annual general meeting (AGM) today.
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