Question: How Much Debt Does RIL Have?

Is Accounts Payable a debt?

Accounts payable are debts that must be paid off within a given period to avoid default.

At the corporate level, AP refers to short-term debt payments due to suppliers.

The payable is essentially a short-term IOU from one business to another business or entity..

What is a net debt free company?

A negative net debt means a company has little debt and more cash, while a company with a positive net debt means it has more debt on its balance sheet than liquid assets.

Is Airtel in debt?

In financial year 2020, Bharti Airtel Limited reported a net debt of about 1188 billion Indian rupees. This was an increase from about one trillion Indian rupees in financial year 2019. Bharti Airtel offers its customers home and digital TV services along with its widely popular mobile services.

Is Jio earning profit?

Profit rose to Rs 2,844 crore in the quarter from Rs 990 crore a year ago and Rs 2,520 crore in the preceding quarter, Jio said in a statement Friday. The market had estimated Jio’s quarterly profit at roughly Rs 2,850 crore.

How Mukesh Ambani become so rich?

Overnight, his wealth rose by $1.2 billion, thanks to the surge in the share prices of his oil-to-telecom company Reliance Industries (RIL), which is also India’s most-valued company. Earlier in the day, RIL shares scaled a record high of Rs 2,010, and its market capitalization stands at Rs 12.70 lakh crore.

Is Jio really profitable?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.

Who is richest Tata or Reliance?

11 lakh crore. However, out of this, Ratan Tata’s personal stake is at less than 1%. Thus we see that the Tata Group is bigger than Reliance Industries. However, Mukesh Ambani is richer than Ratan Tata.

How RIL will become debt free?

Ambani had publicly announced the goal to make RIL debt-free during the company’s annual general meeting in August last year. The aim was to get there by March 31, 2021. The major chunk of the money to clear debt came from selling stakes in RIL’s young telecom and internet venture, Jio Platforms.

Why is Jio so cheap?

I think it is so cheap because Jio works on internet, which is the latest technology. If you are in an area, where there is no internet coverage, the phone will stop working. … The 4G network made by Jio all over India during the past two years was by spending about two and half lakh crores rupees, according to a report.

Is RIL debt free?

Reliance Industries Limited (RIL) declared in July that it has become net debt-free. The $83-billion oil-to-telecom-to-retail giant had reported a net debt of ₹1,61,035 crore as on March 31, 2020.

How does RIL make money?

In 2012–13, it earned 76% of its revenue from refining, 19% from petrochemicals, 2% from oil & gas and 3% from other segments.

Which company is debt free in India?

debt free companiesS.No.NameP/E1.Castrol India18.612.Balmer Law. Inv.9.073.Indian Energy Ex36.424.I R C T C64.7422 more rows

Are liabilities Debt?

The words debt and liabilities are terms we are much familiar with. … Debt majorly refers to the money you borrowed, but liabilities are your financial responsibilities. At times debt can represent liability, but not all debt is a liability.

How much is Reliance Jio debt?

Reliance Jio reported a total debt of nearly 1,450 billion Indian rupees in fiscal year 2019. This was forecast to reach more than 1,700 billion rupees by the end of fiscal year 2021. Reliance Jio, owned by India’s richest person, Mukesh Ambani, was a wholly owned subsidiary of Reliance Industries.

Is RIL in trouble?

Reliance Industries Ltd (RIL) has announced that it has become net-debt free. In March 2020, the company had reported a net debt of ₹1.61 trillion ($21 billion). Since then, it has raised $15.2 billion by selling stakes in Jio Platforms Ltd. Its $7 billion rights issue was oversubscribed 1.6 times.