Reliance Industries Ltd

🔋 Reliance Industries FY2026: Major Expansion & Consumer Growth Highlights

- Crude oil freight costs increased 10-15 times due to geopolitical tensions.

- Crude oil premiums surged to $20-$30 per barrel, with Saudi Arabia setting May prices at a $20 premium.

- Insurance premiums rose from $25,000-$30,000 to millions of dollars per shipment.

- Refinery throughput decreased from 20.3 to 19.5 million tons, managed through agile sourcing.

- Gasoil cracks rose to $35.4, ATF cracks to $36.3, while gasoline cracks fell to $5.6.

- Domestic fuel demand grew: gasoline up 7%, diesel up 5%, ATF up 3% year-on-year.

- RBML retail volumes grew 27%, with 50-60 new outlets and a 65% increase in CBG/CNG sales.

- Petrochemicals faced disruptions: ethylene operating rates dropped from 80% to 60% in Asia due to naphtha shortages.

- LPG imports increased fourfold to meet high domestic demand, with supply challenges from the Middle East.

- SAED (Special Additional Excise Duty) reintroduced effective March 27, 2026, impacting diesel and gasoline margins.

- New energy initiatives: Signed a major green ammonia contract with Samsung C&T, expanding solar and battery manufacturing to 20 GW and 100 GWh.

- Exploration & Production: KG-D6 production declined 8% year-on-year, with efforts to stabilize; CBM production grew.

- LNG prices elevated due to Qatar force majeure on 77 million tons capacity, with long-term supply impacts expected.

- Reliance Industries Limited (RIL) held an analyst meeting on April 24, 2026, discussing audited financial results for Q4 and full year ended March 31, 2026.

- Group revenue grew 10% year-on-year for FY2025-26, with EBITDA up 13.5%, including a one-time gain from sale of listed shares.

- Consumer businesses (Jio Platforms and Reliance Retail) contributed over 55% of EBITDA, with Jio PAT up 15% and Retail PAT up 12% year-on-year.

- Jio Platforms ended FY2026 with 524 million subscribers (net add of 36.3 million), 268 million 5G users (net add of 77 million), and 27 million fixed broadband connections.

- Jio revenue reached ₹1,46,085 crore (up 14.6% YoY), EBITDA ₹76,255 crore (up 19% YoY), and PAT exceeded ₹30,000 crore.

- Reliance Retail reported highest-ever quarterly revenue of ₹98,000 crore (up 11% YoY), EBITDA of ₹6,900 crore, and PAT of ₹3,500 crore; crossed 20,000 stores milestone.

- Retail hyperlocal commerce grew 30% in daily orders quarter-on-quarter and 300% year-on-year; JioMart expanded to 1,200+ cities.

- FMCG business revenue doubled to ₹22,000 crore for FY2026; Campa brand became fourth-largest carbonated soft drink in India with ₹4,700 crore revenue.

- JioStar (media) reached 550 million monthly active users in March 2026, set a world record with 72.5 million concurrent streams during T20 World Cup.

- Oil-to-Chemicals (O2C) EBITDA grew 10% for FY2026 despite Middle East supply disruptions; refinery throughput fell 4% in Q4 due to crude sourcing challenges.

- RIL leveraged global crude sourcing flexibility (e.g., Venezuela, Russia) to mitigate supply shocks; Dubai crude prices surged to $168 during conflicts.

- Net debt remained controlled with EBITDA-to-net debt ratio at 0.64, below the company's target of 1.