THEBUSINESSBYTES BUREAU
MUMBAI, MAY 28, 2026
Reliance Industries Limited (RIL) has reported a record-breaking
financial performance for FY 2025-26, emerging as the first Indian company to
surpass the $10-billion annual net profit milestone, driven by strong growth
across its digital services, retail, media and energy businesses.
The Mukesh Ambani-led conglomerate posted consolidated revenue of ₹11,75,919
crore for FY26, registering a 9.8 per cent year-on-year growth, while EBITDA
rose 13.4 per cent to ₹2,07,911 crore. Net profit surged 17.8 per cent to
₹95,754 crore,
supported by robust performances from Jio Platforms, Reliance Retail, Media
& Entertainment and the Oil-to-Chemicals (O2C) business.
In his address to shareholders, Reliance Industries Chairman and Managing
Director Mukesh D. Ambani said the company’s financial performance reflected
“not just growth, but the strength and discipline that underpin it.”
“RIL has become the first Indian
company to cross $10 billion in annual net profit,” Ambani said, adding that
Reliance continues to build businesses aligned with India’s future growth story
in energy, digital technology, AI and consumer sectors.
The company’s consolidated EBITDA margin improved to 17.7 per cent, while
cash profits rose 16.6 per cent to ₹1,71,258 crore during
the year. Exports stood at ₹2,78,808
crore.
Reliance Retail continued to remain India’s largest and most profitable
retailer, recording gross revenue of ₹3,71,085 crore, up 12.1
per cent over the previous year. EBITDA from the retail business increased 7.7
per cent to ₹27,034 crore.
The retail arm expanded aggressively during the year by opening 1,564 new
stores, taking its total store count to 20,160. Its registered customer base
rose to 387 million, while annual transactions crossed 1.9 billion. The company
said growth was driven by network expansion, stronger category mix, higher
private label contribution and operational efficiencies across supply chain and
fulfilment systems.
Reliance Retail also strengthened its hyper-local commerce operations
through JioMart and Milkbasket while scaling premium fashion, grocery, beauty
and consumer electronics businesses. The company’s omni-channel beauty platform
Tira and fast-delivery platform Ajio Rush also recorded significant growth.
Reliance Consumer Products Limited (RCPL), the group’s fast-growing FMCG
business, witnessed explosive growth during the year. RCPL’s gross revenue
doubled to ₹22,000 crore, led by strong demand in staples
and beverages. Campa achieved more than ₹4,700 crore in gross sales and emerged
as India’s fourth-largest
carbonated soft drink brand by March 2026.
The Independence brand crossed nearly ₹2,600 crore in sales and
RCPL expanded its retail presence to over 3 million outlets through a network
of more than 5,000 distributors. The business also expanded internationally across the Middle East, Africa, South
Asia, Europe and Australia through acquisitions and partnerships.
Reliance Jio further consolidated its dominance in India’s telecom and
digital ecosystem by reporting revenue of ₹1,76,164 crore,
reflecting a 14.3 per cent growth year-on-year. EBITDA from digital services
climbed 17.8 per cent to ₹76,560 crore, with EBITDA margin improving to 51.1 per cent.
Jio’s subscriber base crossed 524 million at the end of FY26, including
over 268 million 5G users and more than 27 million fixed broadband connections.
The network handled over 241 exabytes of data traffic during the year, growing
30.8 per cent year-on-year.
Reliance said Jio’s strong performance was driven by rising 5G adoption,
higher ARPU, broadband expansion and growing traction in digital applications
and AI-enabled services. The company also announced plans to invest ₹10 lakh
crore towards multi-gigawatt AI-ready data centres to build sovereign AI
infrastructure in India.
The Media & Entertainment business emerged as one of the
fastest-growing segments for the group. Revenue from the segment nearly doubled
to ₹40,682 crore, while EBITDA surged 218.7 per
cent to ₹5,842
crore.
JioStar, JioHotstar, Network18 and Jio Studios collectively delivered
record-breaking viewership, engagement and monetisation metrics during the
year. JioHotstar’s average monthly active users rose to 451 million, while the
platform created a global record with 72.5 million concurrent viewers during
the ICC Men’s T20 World Cup final.
Jio Studios also delivered India’s highest-grossing film franchise with
“Dhurandhar”, which crossed ₹3,000 crore in worldwide box office collections.
The Oil-to-Chemicals (O2C) business continued to remain a major earnings
contributor despite volatile global energy markets. The segment reported
revenue of ₹6,62,401 crore and EBITDA of ₹60,546 crore,
representing a 10.1 per
cent increase in EBITDA over the previous year.
Reliance said the O2C business benefited from strong transportation fuel
margins, feedstock optimisation, higher operating rates and improved domestic
product placements. The company also reiterated its focus on transitioning
towards high-value materials and future-ready applications.
Meanwhile, the Oil and Gas segment reported revenue of ₹23,861
crore and EBITDA of ₹19,050 crore. However, EBITDA from the segment declined
10.1 per cent due to lower gas
price realisations and natural decline in production from the KG-D6 block.
Reliance maintained a strong balance sheet during the year with
consolidated net debt at ₹1,24,717 crore. Gross debt stood at ₹3,74,421
crore as on March 31, 2026. Capital expenditure for FY26 increased to ₹1,44,271 crore,
primarily towards O2C expansion, new energy projects, digital services and
retail growth initiatives.
The company also achieved a major milestone in global capital markets
when S&P upgraded Reliance’s credit rating from BBB+ to A-, citing the
increasing contribution of consumer-facing businesses and stronger earnings
stability.
Reliance also underlined its massive contribution to the Indian economy
and society during FY26. The company’s contribution to the national exchequer
increased to ₹2,16,472 crore in FY2025-26 from ₹2,10,269
crore in the previous financial year. Employee benefits stood at ₹30,318 crore,
while Reliance reinvested ₹1,63,815 crore into the group to maintain and expand operations. Contributions
to providers of debt and equity capital stood at ₹43,152 crore and ₹7,443
crore respectively. The company’s contribution to society through various
initiatives rose to ₹2,248 crore during the year. Overall, Reliance generated a total value addition of ₹4,63,448
crore in FY26, reflecting the scale of its economic impact across sectors.
Looking ahead, Ambani said Reliance is building the foundational pillars for India’s future through clean energy, artificial intelligence, digital infrastructure and consumer platforms.
“We are inspired by a simple yet powerful conviction: What is good for India is good for Reliance,” he said.
