Reliance Industries FY26 Revenue Rises 9.8% to Rs 11.75 Lakh Crore

Reliance Industries Limited (RIL) reported a strong financial performance for FY26, with consolidated revenue rising 9.8 per cent year-on-year to Rs 11,75,919 crore (USD 124 billion). The growth was primarily driven by robust expansion in its Digital Services, Retail, and Media & Entertainment businesses.

The company’s EBITDA for FY26 stood at Rs 2,07,911 crore (USD 21.9 billion), reflecting a 13.4 per cent increase over the previous year. Profit after tax (PAT) rose 17.8 per cent to Rs 95,754 crore (USD 10.1 billion), while consolidated cash profits climbed 16.6 per cent to Rs 1,71,258 crore.

Mukesh Ambani, chairman and managing director of Reliance Industries, said, “RIL has become the first Indian company to cross USD 10 billion in annual net profit.”

What drove Reliance Industries’ growth in FY26?

The biggest contributors to Reliance’s growth were its Digital Services and Retail businesses, alongside a sharp improvement in Media & Entertainment.

The Digital Services segment, led by Jio, recorded a 17.8 per cent rise in EBITDA. According to the company, Jio strengthened its leadership in India’s digital ecosystem through increasing 5G adoption, higher average revenue per user (ARPU), and growing traction in broadband services.

The Retail business posted a 7.7 per cent increase in EBITDA. Reliance said the business continued to demonstrate resilience and scale, with growth supported by contributions from multiple consumption categories and an expanding store footprint.

The Media & Entertainment business emerged as the fastest-growing segment, with EBITDA surging 218.7 per cent. Reliance stated, “The business achieved record levels of viewership, registering industry-leading engagement metrics and robust double-digit revenue growth.” The company added that EBITDA improved significantly because of stronger margins.

How did the Oil-to-Chemicals business perform?

Reliance’s Oil-to-Chemicals (O2C) business also remained a major contributor to earnings despite volatility in global energy markets.

The segment recorded a 10.1 per cent increase in EBITDA during FY26. According to the company, transportation fuel margins remained supportive, while profitability improved through higher operating rates, optimised feedstock sourcing, and stronger domestic product placements.

Reliance noted, “While transportation fuel cracks remained supportive, the segment maximised profitability through higher operating rates, optimised feedstock sourcing and higher domestic product placements.”

Why did the oil and gas business decline?

In contrast to the strong performance in digital and retail businesses, Reliance’s oil and gas segment saw EBITDA decline 10.1 per cent during FY26.

The company attributed the moderation to lower production from the KG D6 block and softer gas prices during the year. This impacted both revenues and profitability in the upstream energy business.

What did Mukesh Ambani say about Reliance’s performance?

Mukesh Ambani highlighted the company’s ability to deliver consistent growth despite uncertain global conditions.

“Our financial performance reflects not just growth, but the strength and discipline that underpin it. These results are a testament to our ability to execute consistently in the face of global uncertainty,” Ambani stated.

He also underlined Reliance’s long-term alignment with India’s economic growth story, saying, “We are inspired by a simple yet powerful conviction: What is good for India is good for Reliance. The story of India's rise will be written in this decade-and we intend to contribute significantly towards its most defining chapters.”

What do Reliance’s debt and investment numbers show?

As of March 31, 2026, Reliance Industries’ gross debt stood at Rs 3,74,421 crore (USD 39.5 billion), while net debt was reported at Rs 1,24,717 crore (USD 13.2 billion).

The company continued to invest aggressively across businesses, with capital expenditure reaching Rs 1,44,271 crore (USD 15.2 billion) during FY26, compared to Rs 1,31,107 crore in the previous fiscal year.

Exports for the year stood at Rs 2,78,808 crore, underlining Reliance’s continued importance in India’s export ecosystem.

How did Reliance perform on a standalone basis?

On a standalone basis, Reliance Industries reported revenue of Rs 5,46,852 crore (USD 57.7 billion), which was down 1.9 per cent from the previous fiscal year.

However, standalone EBITDA increased 5.3 per cent year-on-year to Rs 78,085 crore (USD 8.2 billion), while standalone profit after tax rose sharply by 24.4 per cent to Rs 43,851 crore (USD 4.6 billion).

The standalone performance reflected operational strength despite pressure in certain legacy businesses.

(With inputs from ANI)