Reliance Industries (RELIANCE) Q1 25/26 earnings summary

Executive summary

• Achieved record net profit in Q1 FY26, driven by strong operational performance and a significant gain from the sale of Asian Paints investment.

• All major business segments—Digital Services, Retail, Oil to Chemicals, and Media—delivered robust growth, with Digital Services and Retail leading YoY revenue and EBITDA increases.

• New energy initiatives are progressing rapidly, with large-scale gigafactories and integrated value chains nearing operationalization.

• Maintained a strong balance sheet with disciplined capital allocation and net debt to EBITDA at 0.59.

• Digital services and retail continue to be multi-decade growth opportunities, supported by proprietary technology and diversified business models.

Financial highlights

• Consolidated revenue rose 6% YoY to ₹273,252 crore; EBITDA up 36% YoY to ₹58,024 crore; net profit surged 76.5% YoY to ₹30,783 crore, including a one-time gain from Asian Paints investment sale.

• Recurring EBITDA and PAT grew 15% and 25% YoY, respectively.

• Jio Platforms Limited reported ₹41,949 crore revenue, ₹18,312 crore EBITDA (18.3% and 24% YoY growth), and ₹7,110 crore PAT (25% YoY growth).

• Retail segment revenue was ₹84,172 crore, up 11.3% YoY; EBITDA up 13% YoY to ₹6,381 crore; margin improved to 8.7%.

• Media segment delivered ₹9,601 crore revenue and strong IPL-driven growth.

Outlook and guidance

• On track to double group value by the end of the decade, with continued investments in digital, retail, and new energy businesses.

• New energy business expected to be fully operational in 4–6 quarters, targeting 55 CBG plants by year-end.

• Retail and Jio expected to accelerate growth as store additions and new services scale up.