Reliance Industries Limited (RELIANCE) share price

₹1178.00 on NSE as of 2026-10-08. -2.46% on the day. market cap ₹1,594,133 Cr. P/E 21.3. 52-week range ₹1167.70 to ₹1592.30. Oil Gas & Consumable Fuels.

www.ril.com

What the company does

RIL is one of India's largest private sector companies, with diverse interests, including petrochemicals, oil refining, and upstream oil and gas exploration and production. RIL has strong competitiveness in the global oil refining and petrochemicals business, arising from its integrated business model with superior Complexity Index of 21.1 for its Jamnagar site, which makes it amongst the most complex sites in the world. RIL has also established its presence in the consumer facing business space by providing retail and digital services, which currently is RIL's principal growth drivers. RRL is India's largest retail entity by revenue, while RJIL has also become India's largest telecom service provider by revenue market share. The group is also in the process of establishing itself in the green energy space.

Filed by CRISIL, page 5.

Reliance Industries Q1 FY27: ₹3.09 Lakh Crore of Revenue, and a Headline Profit That Fell Because Last Year Had a Windfall

At a glance

Reliance sells fuel, plastics, groceries and mobile data. Revenue rose across its main lines in the three months to June 2026.

Consolidated sales for the quarter came to ₹3,09,468 crore. That is 27% higher than the ₹2,43,632 crore of the same quarter a year earlier. Sales also rose 5.2% on the ₹2,94,059 crore of the three months to March. Operating profit, the earnings a business makes before interest, tax and depreciation, was ₹47,517 crore. That figure stands 10.7% above the same quarter last year.

The profit line moved the other way. Reported net profit, including the share of associates and joint ventures, was ₹23,196 crore. A year earlier the same line read ₹30,783 crore. Earnings per share followed it down, at ₹15.48 against ₹19.95. Management points at the base rather than at the quarter itself. The June 2025 quarter carried ₹8,924 crore of one-off gains from selling listed investments, booked inside Other Income. Set that aside and management puts recurring net profit 6.1% higher. On the reported line profit fell 24.6%; on management's recurring basis it rose.

The company reports a record recurring operating profit of ₹54,067 crore for the quarter. Oil-to-chemicals revenue rose 30%, which management attributes to a shock in energy markets. Growth was broad across the group, with oil-to-chemicals, Jio and Retail each adding revenue in double digits. Jio Platforms filed its initial public offering paperwork during the quarter.

Introduction

Reliance is India's largest private-sector enterprise. Dhirubhai Ambani founded it, and his elder son Mukesh Ambani runs it today. The promoter family, meaning the founding family that controls the company, holds roughly half of it.

Five businesses sit under one roof. In decreasing order of revenue they are oil-to-chemicals, retail and digital services under the Jio brand. Oil and gas exploration and media and entertainment follow behind those three. Oil-to-chemicals carries the largest share of revenue and media and entertainment the smallest. A portfolio that wide means a single quarter can be told five ways, one per segment.

The June 2026 quarter ran through what management described as an energy market shock. Management links that to conflict in the Middle East and to disruption in the Strait of Hormuz. Brent crude, the global benchmark grade, averaged $104.5 a barrel over the quarter. A year earlier the same benchmark averaged $67.8, per the company's presentation. Management ties the quarter's 30% growth in oil-to-chemicals revenue to that shock.

Corporate activity carried on around the backdrop. Jio Platforms filed its Draft Red Herring Prospectus on 19 June. That document is the detailed filing a company lodges before it offers shares to the public. Reliance and Meta announced a 168 MW data centre at Jamnagar, built for artificial-intelligence work. A green ammonia offtake agreement with Samsung C&T was signed in March, valued above US$3 billion. An offtake agreement is a commitment by a buyer to take output before it is produced.

The group's borrowings were reassessed in the same period. S&P, a credit-rating agency, upgraded Reliance's US dollar notes to A minus. Management also cites an upgrade from Moody's, another rating agency, to Baa1. Such ratings describe how likely a lender is to be repaid on notes of that kind.

Business model

Reliance is what happens when a refinery has children and then keeps having them.

Oil-to-chemicals sits at the base, at about 54% of revenue. The refining setup processes 1.4 million barrels of crude a day. The company claims the title of world's largest integrated polyester producer. It also claims third place worldwide in paraxylene and a top-five place in PTA and polypropylene. Paraxylene and PTA are chemicals used to make polyester, and polypropylene is a common plastic. In plain terms, this is a machine turning crude oil into fuel and plastic pellets at scale.

Retail is bolted onto that, at roughly 29% of revenue. It runs more than 19,340 stores and counts over 349 million registered customers. JioMart handles quick commerce, meaning delivery within minutes rather than within days. The consumption baskets span grocery, electronics, fashion and connectivity, and shoppers pay at the till or through the app.

Jio, the telecom arm, contributes about 13% of revenue and is paid by subscribers. Its wireless subscriber base is 47.9 crore, with around 41% of the market. Those figures come from TRAI, the telecom regulator, as cited by the company.

Oil and gas exploration accounts for about 2% of revenue. Media and entertainment adds another 2%, through JioStar, the entity formed by the Viacom18 and Star merger. JioStar claims to reach more than 400 million viewers each day.

A barrel of oil, a bag of groceries, a data pack and an IPL stream pass through one company. The polyester and the paneer share a parent.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Reliance Industries Limited.

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