RIL Q2 Results: Nuvama expects 17% EBITDA growth led by oil refining business

Reliance Industries is expected to report 17% year-on-year EBITDA growth in Q2FY27, reaching Rs 53,700 crore, according to Nuvama Research. The growth is projected to be led by stronger refining margins and higher throughput in the oil-to-chemicals (O2C) business.

While the O2C segment is expected to drive near-term earnings growth, Nuvama anticipates the New Energy division could become a significant growth driver going forward. The research firm projects New Energy EBITDA to reach Rs 20,100 crore by FY30.

Nuvama has retained its Buy rating on RIL with a target price of Rs 1,766 per share.