Reliance FY26: Consumer Businesses Carry Growth as Energy Turns Volatile

FY26 consolidated revenue was ₹11,75,919 crore, EBITDA was ₹2,07,911 crore, and PAT (including share of associates and JVs) was ₹95,754 crore.

Jio Platforms reported FY26 operating revenue of ₹1,46,885 crore, EBITDA of ₹76,255 crore, and PAT of ₹30,049 crore. EBITDA margin for FY26 was 51.9%.

Reliance Retail reported FY26 gross revenue of ₹3,70,026 crore, EBITDA of ₹27,033 crore and PAT of ₹13,838 crore. It ended FY26 with 20,160 stores and 78.3 million sq ft area, 387 million registered customers and 1.93 billion transactions.

Management cited multiple headwinds limiting margin capture: higher crude premiums, elevated freight and insurance costs, under-recoveries on domestic fuel sales from holding retail prices, and reintroduction of SAED, alongside weak polymer deltas.

The company stated it has commissioned solar PV module and cell lines and targets 20 GWp annual fully integrated solar manufacturing in the next few quarters. It also stated it is scaling battery manufacturing to 100 GWh annually with first 40 GWh phase to be commissioned during the year, and signed a $3 billion green ammonia supply agreement starting 2029 for 15 years.

Yes. The board recommended a dividend of ₹6.00 per equity share of face value ₹10 for FY26, subject to shareholder approval.