Mumbai | Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani outlined the company’s strongest-ever financial performance and an ambitious roadmap for future growth during the 49th Annual General Meeting (AGM) held following the approval of Jio Platforms’ proposed Initial Public Offering (IPO).
Addressing shareholders, Ambani highlighted record-breaking FY2025–26 financial results, major advancements in Artificial Intelligence (AI), new energy, retail expansion, and digital transformation, while expressing confidence that Reliance is well-positioned to more than double its earnings over the next five years.
Reliance Reports Record FY26 Financial Performance
Reliance Industries delivered its highest-ever annual financial results for FY2025–26.
Financial Highlights
- Consolidated Revenue: ₹11,75,919 crore ($124 billion), representing a 9.8% year-over-year increase.
- EBITDA: ₹2,07,911 crore ($21.9 billion).
- Net Profit: ₹95,754 crore ($10.1 billion), rising 17.8% from the previous fiscal year.
- Capital Expenditure (Capex): ₹1,44,271 crore during FY26.
- Five-Year Capex: More than ₹6.48 lakh crore, reflecting Reliance’s aggressive investments in infrastructure, technology, and future businesses.
Ambani stated that these results demonstrate the company’s resilience, diversified business model, and long-term growth strategy.
Jio IPO Marks a Historic Milestone
One of the biggest announcements during the AGM was the progress of the Jio Platforms IPO.
Ambani confirmed that the Board of Directors of Jio Platforms has approved the Draft Red Herring Prospectus (DRHP), which is being filed with the Securities and Exchange Board of India (SEBI).
Celebrating 10 years of Jio, Ambani highlighted the telecom giant’s remarkable scale:
- 524 million mobile subscribers
- 268 million 5G subscribers
- One of the world’s fastest-growing digital ecosystems
He described the IPO as another milestone in Jio’s journey toward becoming a global technology leader.
Reliance Intelligence: Building India’s AI Future
Artificial Intelligence emerged as one of the central themes of Ambani’s address.
Through Reliance Intelligence, the company plans to build one of the world’s most advanced AI ecosystems, designed specifically for India’s needs.
Major AI Initiatives Include:
- Sovereign AI compute infrastructure being developed in Jamnagar, powered entirely by clean energy.
- Deployment of computing capacity equivalent to more than 75,000 NVIDIA H100 GPUs, with plans to expand beyond 200,000 GPUs.
- Strategic technology partnerships with Google, Meta, and NVIDIA.
- Launch of AI-powered digital platforms, including:
- JioBharatIQ
- JioHealthIQ
- JioLearnIQ
- JioKrishiIQ
- AI-powered network assistants integrated into Jio’s services.
Ambani emphasized that Reliance aims to make Artificial Intelligence affordable, accessible, and beneficial for every Indian.
Retail and FMCG Continue Strong Growth
Reliance’s consumer businesses also delivered impressive performance.
Reliance Retail
- Gross Revenue: ₹3,70,026 crore
- More than 20,000 retail stores operating across India.
Reliance Consumer Products Limited (RCPL)
The company’s Fast-Moving Consumer Goods (FMCG) business recorded significant growth, with revenue doubling to ₹22,000 crore, supported by the rapid expansion of its consumer brands.
Major Progress in New Energy Business
Reliance continues investing heavily in its clean energy transition.
Key developments include:
- Commercial production of advanced Heterojunction (HJT) solar modules.
- Expansion of the company’s battery manufacturing facility toward 120 GWh capacity.
- Signing a $3 billion long-term Green Ammonia supply agreement with Samsung C&T.
- A target to create 200,000 green jobs as part of India’s renewable energy transformation.
Ambani said these initiatives position Reliance to become a global leader in sustainable energy solutions.
Roadmap to Double EBITDA
Looking ahead, Ambani expressed confidence that Reliance can more than double its consolidated EBITDA over the next five years through five major growth engines:
- Transformation of the Oil-to-Chemicals (O2C) business
- Expansion of New Energy operations
- Reliance Intelligence (AI)
- Rapid growth of the FMCG business
- A major push in exports and global markets
Leadership Transition and Social Impact
Ambani also highlighted the growing leadership roles of Isha Ambani, Akash Ambani, and Anant Ambani, describing the succession process as smooth and focused on long-term value creation.
He further noted that the Reliance Foundation has positively impacted 97 million lives through initiatives in education, healthcare, rural development, disaster response, and community welfare.
Chairman’s Closing Remarks
Concluding his address, Mukesh Ambani reaffirmed his confidence in both Reliance and India’s future, stating:
“I have never been more confident about Reliance’s future. And I have never been more optimistic about India’s future. Because the two are inseparable.”
Key Highlights
- Reliance Industries reported record FY26 revenue of ₹11.76 lakh crore.
- Net profit increased 17.8% to ₹95,754 crore.
- Jio Platforms approved its DRHP for the proposed IPO.
- 524 million Jio subscribers, including 268 million 5G users.
- Reliance Intelligence unveiled an ambitious AI roadmap with sovereign infrastructure and strategic global partnerships.
- Reliance Retail crossed 20,000 stores with revenue of ₹3.70 lakh crore.
- RCPL doubled its FMCG revenue to ₹22,000 crore.
- New Energy projects continue expanding with solar, batteries, and green ammonia.
- Reliance targets doubling EBITDA within five years through five strategic growth pillars.