 "oil, gas, petrol, refinery")
Mukesh Ambani’s plan to make Reliance Industries (RIL) net-debt free before March 2021 will hinge on completion of announced deals and some more initiatives, according to analysts.
For the quarter ended December 2019, RIL turned free cash flow (FCF) positive, a reversal that most brokerage firms welcomed.
However, analysts added that the company will need stronger FCF and more deals to meet debt reduction targets.
“Decline in capex intensity led to positive FCF after five years; debt deleveraging should accelerate in the coming quarters,” analysts at HSBC noted in a post results note on RIL.
The company’s total debt as of
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