Reliance Industries Limited (RELIANCE) Q4 25/26 earnings summary

Executive summary

• Achieved robust consolidated revenue of ₹11,75,919 crore for FY26, up 9.8% year-over-year, with strong growth in consumer businesses and resilient performance amid global disruptions.

• EBITDA rose 13.4% to ₹2,07,911 crore, with over 55% contributed by consumer segments; PAT increased 17.8% to ₹95,754 crore.

• Digital services ended FY26 with 524 million subscribers and the largest 5G user base outside China.

• Retail delivered record revenues and EBITDA, expanding hyperlocal commerce and store network to over 20,000 stores.

• Audited consolidated and standalone financial results for the year and quarter ended March 31, 2026, were approved, with a recommended dividend of ₹6.00 per equity share, subject to shareholder approval.

Financial highlights

• Consolidated revenue from operations for FY26 was ₹1,075,675 crore, up from ₹980,136 crore year-over-year.

• Consolidated net profit after tax and share of associates/JVs for FY26 was ₹95,754 crore, up from ₹81,309 crore year-over-year.

• Digital services revenue up 14.6% YoY to ₹1,46,885 crore; EBITDA up 19% YoY, margin at 52%.

• Retail FY26 gross revenue reached ₹3,70,026 crore (+12% YoY), EBITDA at ₹27,033 crore (+8% YoY).

• O2C FY26 revenue at ₹6,62,401 crore (+5.7% YoY), EBITDA at ₹60,546 crore (+10.1% YoY).

Outlook and guidance

• Expect continued volatility in energy markets due to geopolitical risks and supply disruptions.

• Retail and digital businesses to drive future growth through scale, innovation, and omni-channel expansion.

• O2C cracks likely to remain strong due to ongoing supply constraints and geopolitical risks.

• FMCG to scale manufacturing and expand internationally.

• Dividend of ₹6.00 per share recommended for FY26, pending AGM approval.