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Reliance Communication Ltd. (RCL) is the second largest private sector mobile telephone operator in India with a wireless (CDMA and GSM) subscriber base of nearly 50 m. The business of the company is spread across three segments - Global, Enterprise and Personal. The 'Global' business caters to voice and data market. In the voice market, RCL is the carrier of national and international voice traffic for telecom operators, telecom service providers and its internal customers. The data business owns the largest private submarine cable system in the world, which carries data across six continents. The 'Enterprise' segment serves 750 of the top 1,000 enterprises in India, by offering a wide array of products that comprise of voice, data, Internet, and IT infrastructure management services. The 'Personal' segment offers voice, data and value added services for the individual consumers and enterprises, via its CDMA and GSM-based mobile and fixed wireless services.

Financials

Top

* Results Consolidated

No. of Months
Year Ending

9

31/12/2005

15

*
31/03/2007

12

*
31/03/2008

EQUITY SHARE DATA
High	Rs	0	518	844
Low	Rs	0	186	389
Sales per share	Rs	0.0	84.1	91.2
Earnings per share	Rs	0.0	17.3	26.2
Cash flow per share	Rs	0.1	31.5	39.8
Dividends per share	Rs	0.00	0.50	0.75
Dividend yield (eoy)	%	NM	0.1	0.1
Book value per share	Rs	125.9	112.2	140.6
Shares outstanding (eoy)	m	1,223.13	2,044.61	2,064.03
Bonus/Rights/Conversions		-	DM,A	BC
Price / Sales ratio	x	NM	4.2	6.8
Avg P/E ratio	x	0.0	20.4	23.6
P/CF ratio (eoy)	x	0.0	11.2	15.5
Price / Book Value ratio	x	0.0	3.1	4.4
Dividend payout	%	0.0	2.9	2.9
Avg Mkt Cap	Rs m	0	719,703	1,272,474
No. of employees	`000	0	22	37
Total wages/salary	Rs m	11	10,848	11,837
Avg. sales/employee	Rs Th	NM	7,851.6	5,137.1
Avg. wages/employee	Rs Th	NM	495.5	323.0
Avg. net profit/employee	Rs Th	NM	1,612.7	1,473.7

INCOME DATA
Net Sales	Rs m	0	171,904	188,274
Other income	Rs m	133	8,986	15,386
Total revenues	Rs m	133	180,890	203,660
Gross profit	Rs m	-17	64,779	79,573
Depreciation	Rs m	27	29,193	28,053
Interest	Rs m	0	8,645	10,681
Profit before tax	Rs m	89	35,927	56,225
Minority Interest	Rs m	0	49	-13,901
Prior Period Items	Rs m	0	0	0
Extraordinary Inc (Exp)	Rs m	0	63	14,523
Tax	Rs m	32	731	2,836
Profit after tax	Rs m	57	35,308	54,011
Gross profit margin	%	NM	37.7	42.3
Effective tax rate	%	36.0	2.0	5.0
Net profit margin	%	NM	20.5	28.7

BALANCE SHEET DATA
Current assets	Rs m	31,590	131,130	105,817
Current liabilities	Rs m	36	161,482	200,776
Net working cap to sales	%	NM	-17.7	-50.4
Current ratio	x	877.5	0.8	0.5
Inventory Turnover	Days	NM	10	8
Debtors Turnover	Days	NM	39	53
Net fixed assets	Rs m	1,662	330,422	523,126
Share capital	Rs m	6,116	10,223	10,320
"Free" reserves	Rs m	147,834	218,655	267,638
Net worth	Rs m	153,950	229,307	290,263
Long term debt	Rs m	0	84,011	141,081
Total assets	Rs m	153,993	565,254	774,593
Interest coverage	x	NM	5.2	6.3
Debt to equity ratio	x	0.0	0.4	0.5
Sales to assets ratio	x	0.0	0.3	0.2
Return on assets	%	0.0	14.0	15.0
Return on equity	%	0.0	15.4	18.6
Return on capital	%	0.1	14.3	15.7
Exports to sales	%	NM	0.0	0.0
Imports to sales	%	NM	8.8	23.4
Exports (fob)	Rs m	0	0	0
Imports (cif)	Rs m	0	15,045	44,108
Fx inflow	Rs m	0	16,877	12,962
Fx outflow	Rs m	0	22,366	53,574
Net fx	Rs m	0	-5,489	-40,612
* Results Consolidated