O2C margin pressure from global oversupply
Petrochemical margins remain weak due to China supply overhang and subdued global demand, with PVC deltas down 35% YoY.
RELIANCE / Q1-FY24 / risks
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Reliance · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Elevated crude prices from OPEC+ cuts
Voluntary oil production cuts by OPEC+ could keep crude prices elevated, potentially impacting demand and refining margins.
Higher finance costs and depreciation
Net profit declined 6% YoY despite EBITDA growth, driven by higher depreciation and finance costs from accelerated capex.
LNG price volatility and gas realization risk
Global LNG prices have declined due to high storage and sluggish demand, potentially impacting KG-D6 realizations despite long-term contracts.