On Friday, April 24, 2026, Reliance Industries Limited (RIL) officially became the first Indian company to surpass the $10 billion (₹95,610 crore) annual net profit milestone for the financial year ending March 31, 2026 (FY26).
While the annual results set a national record, the stock faced minor pressure due to a “soft” fourth quarter impacted by global energy volatility.
1. FY26: The $10 Billion Milestone
Reliance’s diversified “flywheel” strategy—balancing energy, retail, and digital services—allowed it to cross the historic profit mark despite a challenging global environment.
| Metric | FY26 Actual (Consolidated) | Growth (YoY) |
| Annual Net Profit | $10.3 Billion (₹95,610 Cr) | +18.3% |
| Annual Revenue | $124 Billion (₹11.76 Lakh Cr) | +9.8% |
| Annual EBITDA | $21.9 Billion (₹2.08 Lakh Cr) | +13.4% |
| Capital Expenditure | $15.2 Billion (₹1.44 Lakh Cr) | +10.0% |
- Profit Composition: Consumer-facing businesses (Jio and Retail) now contribute more than 50% of the consolidated operating profit, reducing the company’s traditional dependence on cyclical oil margins.
- Dividend: The Board recommended a dividend of ₹6 per share for FY26.
2. Q4 FY26 Performance: A Mixed Bag
The market’s immediate reaction was cautious as the final quarter of the fiscal year showed signs of a “margin squeeze” in the energy segment.
- Quarterly Profit: Reported at ₹16,971 crore, a 12.5% decline compared to the same period last year.
- The “Energy Choke”: The Oil-to-Chemicals (O2C) business faced headwinds from the ongoing West Asia crisis and volatile global trade patterns, which compressed refining margins.
- Operating Margins: Consolidated EBITDA margins contracted by 200 basis points to 14.9%, primarily due to the energy segment’s performance.
3. Segment Highlights
Despite the quarterly dip in energy, Reliance’s “new-age” pillars showed massive scale:
Jio Platforms (Digital Services)
- Profit: Surpassed ₹30,000 crore for the full year.
- 5G Dominance: Reached 268 million 5G subscribers, representing over 65% of India’s total 5G market share.
- Traffic: Data traffic surged 35% YoY to 66 Exabytes in Q4.
Reliance Retail
- Annual Profit: Contributed ~₹14,000 crore to the bottom line (+18% YoY).
- Infrastructure: The store count reached close to 20,000, with a major focus on “hyper-local” quick commerce (QC) where RIL is now the second-largest player in India.
4. Chairman’s Outlook: The New Energy Pivot
Mukesh Ambani emphasized that the company is “effectively navigating external volatility” and is now focused on its next massive growth engine: New Energy.
- Giga-Factories: Rapid progress is being made in operationalizing the New Energy giga-factories in Jamnagar, which are expected to begin contributing to revenue in FY27.
- AI Integration: Chairman Akash Ambani noted that Jio is being positioned as a “gateway for emerging AI technologies” in India.