Reliance Industries Limited (RIL) reported on Friday, April 24, 2026, that its retail arm, Reliance Retail Ventures Limited (RRVL), achieved its highest-ever quarterly gross revenue of ₹98,232 crore in Q4 FY26, marking a 10.8% year-on-year (YoY) increase.
While revenue growth remained robust, the company’s bottom line saw more measured growth as it aggressively invested in its “quick commerce” and hyper-local infrastructure to compete with rivals like Blinkit and Zepto.
1. Q4 FY26 Financial Summary
Reliance Retail’s performance for the January–March quarter highlights a steady but investment-heavy phase of growth.
| Metric | Q4 FY2025-26 Performance | Change (YoY) |
| Gross Revenue | ₹98,232 Crore | ▲ 10.8% |
| Revenue from Operations | ₹87,344 Crore | ▲ 11.1% |
| EBITDA | ₹6,921 Crore | ▲ 3.1% |
| Profit After Tax (PAT) | ₹3,563 Crore | ▲ 0.5% |
| EBITDA Margin | 7.9% | ▼ 60 bps (from 8.5%) |
- Margin Compression: The decline in EBITDA margins from 8.5% to 7.9% was primarily attributed to high initial investments in scaling hyper-local delivery and supply chain modernization.
- Tax Impact: Quarterly profit was also tempered by a 15.5% increase in tax expenses, which rose to ₹1,252 crore.
2. Full-Year (FY26) Milestones
For the full financial year, Reliance Retail crossed several historic thresholds, solidifying its position as India’s largest retailer.
- Annual Revenue: Crossed the ₹3.70 lakh crore mark (up 11.8% YoY).
- Annual Profit: PAT reached ₹13,842 crore, a growth of 11.7% over the previous year.
- Transaction Volume: Recorded 1.93 billion transactions annually, a 38.8% YoY surge driven largely by digital adoption.
- Customer Base: The registered customer base expanded by 11% to reach 387 million.
3. Hyper-local & FMCG Momentum
Isha Ambani, Executive Director of RRVL, described the year as one of “structural shift,” with the company’s quick-commerce arm emerging as a dominant force.
- 4x Order Growth: Hyper-local commerce (JioMart and Ajio Rush) daily orders grew more than fourfold YoY in Q4.
- Delivery Footprint: Powered by 3,100+ stores, the network now offers quick delivery across 1,200+ cities and 5,100+ pin codes.
- FMCG Success: The consumer products vertical grew 2.2x in Q4 to ₹7,350 crore. The Campa brand has become India’s 4th largest soft drink brand, while Independence (staples) and Campa Sure (water) are also gaining significant market share.
4. Infrastructure & Expansion
- Store Count: Reliance added 333 new stores in Q4 and 1,564 stores during the full year, taking its total count to 20,160 outlets.
- Total Area: The retailer now operates a total area of 78.3 million square feet, a 1.2% increase YoY.
- Grocery Growth: The “Smart Bazaar” format crossed the 1,000-store milestone, reportedly the fastest global rollout for a big-box retail format.