RIL’s consumer businesses at the cusp of strong growth: Report

Mumbai: Reliance Industries Ltd’s (RIL) consumer businesses, which include its retail business and telecom services, are at the cusp of a strong growth, according to a report by Goldman Sachs.

It also said that RIL’s oil to chemical (O2C) business will continue to generate free cash flow even at cycle-low margins.

“We forecast consumer businesses to deliver FY20-23 EBITDA CAGR of 36 per cent and drive 52 per cent of EBITDA contribution in FY23, compared to 35 per cent/14 per cent in FY20/FY18,” it said.