RELIANCENSEApril 26, 2026

Reliance Industries Limited

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Key numbers — 40 extracted
rs,
April 26, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 National Stock Exchange of India Limited Exchange Plaza, Plot No. C
70%
ed products remained steady and then you go into March. We all know the numbers almost doubling of 70% higher in some cases, even in gas it went up to double, of course the concern for everybody and al
11%
is happening, everybody is grappling with it. Rupee depreciation obviously is an area of concern, 11% for the year and 4% just in March and the bias will be there if this situation were to persist bec
4%
ody is grappling with it. Rupee depreciation obviously is an area of concern, 11% for the year and 4% just in March and the bias will be there if this situation were to persist because on the back of
10%
d. In this context, when I just look at FY2025-26 the full year and before I go into the quarter 10% up on revenue, 13.5% on EBITDA, this of course includes the one time that we had in the sale of li
13.5%
t, when I just look at FY2025-26 the full year and before I go into the quarter 10% up on revenue, 13.5% on EBITDA, this of course includes the one time that we had in the sale of listed shares. Now, wit
55%
that we had in the sale of listed shares. Now, with the consumer businesses contributing more than 55% of EBITDA and PAT growth was also good, and I have provided the details of the standalone profita
15%
f the standalone profitability of RIL, JPL and RRVL. So, JPL at year-on-year PAT increase is about 15% and RRVL about 12%, RIL close to 24 and this is really the mix. Overall growth 13%, digital very
12%
ofitability of RIL, JPL and RRVL. So, JPL at year-on-year PAT increase is about 15% and RRVL about 12%, RIL close to 24 and this is really the mix. Overall growth 13%, digital very strong 18%, subscrib
13%
crease is about 15% and RRVL about 12%, RIL close to 24 and this is really the mix. Overall growth 13%, digital very strong 18%, subscribers, 5G subscriptions, broadband mix, customer engagement, all t
18%
RVL about 12%, RIL close to 24 and this is really the mix. Overall growth 13%, digital very strong 18%, subscribers, 5G subscriptions, broadband mix, customer engagement, all these metrics are very goo
8%
ptions, broadband mix, customer engagement, all these metrics are very good strong numbers. Retail 8% growth on EBITDA and this is muted because of the scale up of the hyperlocal e-commerce. Also, fas
Guidance — 20 items
Transcript
opening
“Rupee depreciation obviously is an area of concern, 11% for the year and 4% just in March and the bias will be there if this situation were to persist because on the back of widening gap, these are concern areas, it all depends on what is the outcome of the war, when does the settlement happen, but were it not these are really the immediate concern areas in everybody’s mind.”
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“One day installation, over 90% of the installations are happening within 24 hours, of course we will strive will target to take this closer to 100% and most of the times the limiting factor again becomes the availability of a technician.”
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“So, across those we are trying to connect more with the target customers, especially younger customers, to get them to experience our proposition.”
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“To really scale © Reliance Industries Limited 2020 8 up the business, we are investing into manufacturing capabilities, and we intend to become one of the largest manufacturers of cooldrinks in the country.”
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“On the downstream sector of course, more will be covered in the latest slides by Mr.”
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“Downstream margins were a bit weak, will be covered a little more in the next section.”
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“Of course, all of you know, and probably there will be questions around a lot of under recoveries there but gasoline at 6.5% growth, gasoil 3.6 and the petrochemical products also reasonably strong growth.”
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“So just to give, I mean to conclude and talk about these ones, what do we see going forward?”
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“The extent of it probably will be assessed when things come down a bit, but there is definitely infrastructure that has been hit and going © Reliance Industries Limited 2020 14 forward we expect to see lower capacities on production as well as on refining both is what we understand based on the situation.”
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opening
“So, there will be some impact of all these factors.”
Risks & concerns — 15 flagged
We all know the numbers almost doubling of 70% higher in some cases, even in gas it went up to double, of course the concern for everybody and all of us is the fact that the supply shock and its impact on industry and consumer confidence, that is something that as it is happening, everybody is grappling with it.
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Rupee depreciation obviously is an area of concern, 11% for the year and 4% just in March and the bias will be there if this situation were to persist because on the back of widening gap, these are concern areas, it all depends on what is the outcome of the war, when does the settlement happen, but were it not these are really the immediate concern areas in everybody’s mind.
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When I say consumer here I am taking both Jio and retail that is up 14%, which really negates the impact of energy, which has been lower and more on PAT has been on a quarter-on-quarter lower because of depreciation and interest on the back of the capitalization of the 5G assets, and more specifically on Oil-to-Chemicals down 4% and actually the 4% does not bring the overall context of how difficult the environment was.
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So, if there is a match in a stadium or there is a high traffic zone, we are able to now enhance capacity, which has always been a challenge area for operators, and we have been able to come up with our own proprietary solutions to address improve customer experience in these situations.
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The TV entertainment ad revenue remained under some pressure, especially due to spend cuts that we saw on the FMCG side.
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So, to sum up, strong fuel cracks because of supply tightness is what we have seen throughout the year in terms of the refining business and downstream margins they remain under pressure.
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Impact of the Middle East conflict and what actions RIL has taken is covered in this slide.
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Downstream margins were a bit weak, will be covered a little more in the next section.
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So, all these have been a bit of a drag in terms of capturing the entire margin that one would have liked to and SAED, of course, at the fag-end of the year, we have had introduction of SAED, effective 27 March 2026, we have the SAED also.
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That has helped us somewhat dampen the impact of the very high freight rates and aromatics production where possible we have tried to increase it to capture the higher margins.
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Definitely there is an impact of what happened in March in this picture.
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So, there will be some impact of all these factors.
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So that is some a risk that is there in the business which we will have to take.
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© Reliance Industries Limited 2020 16 This could result in accelerated recovery of the cycle which in last couple of years and last couple of quarters, we have been talking that naphtha cracking margins have been under severe stress.
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Essentially, we are still managing the decline.
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Opening remarks
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Luxembourg Stock Exchange 35A Boulevard Joseph II, L-1840 Luxembourg Singapore Exchange Limited 4 Shenton Way, #02-01 SGX Centre 2, Singapore 068807 Regd. Office: 3rd Floor, Maker Chambers IV, 222, Nariman Point, Mumbai- 400 021, India Phone #: +91-22-3555 5000, Telefax: +91-22-2204 2268. E-mail: investor.relations@ril.com, Website: www.ril.com CIN- L17110MH1973PLC019786 RIL Q4 2025 - 2026 Media & Analyst Call Transcript 24 April 2026 20:02 IST
Call Participants
• Sh V Srikanth, CFO, Reliance Industries Limited • Sh Anshuman Thakur, Head of Strategy, Reliance Jio Infocomm Limited • Sh Dinesh Taluja, CFO & Corporate Development, Reliance Retail • Sh Ashutosh Goyal, CFO, FMCG Business, Reliance Consumer Products Limited • Sh Ishan Chatterjee, CEO, Sports, JioStar • Sh Srinivas Tuttagunta, COO – Refining & Marketing, Reliance Industries Limited • Sh Amit Chaturvedi, President – Petrochemicals, Reliance Industries Limited • Sh Karan Suri, Senior Vice President - New Energy, Reliance Industries Limited • Sh Sanjay Barman Roy, President – E&P, Reliance Industries Limited Duration: 01:47:40 minutes Presentation Link: https://rilstaticasset.akamaized.net/sites/default/files/2026- 04/FY2025-26_RIL_Analyst_Meeting.pdf Meeting Audio: https://www.ril.com/investors/events-presentations#webcast-sec • Sh V Srikanth 00:00:01 – 00:06:32 (Group Performance) • Sh Anshuman Thakur 00:06:36 – 00:18:28 (Jio Platforms) • Sh Dinesh Taluja 00:18:33 - 00:28:05 (Retail)
Transcript
PRESENTATION Sh V Srikanth 00:00:01 – 00:06:32 (Group Performance) The first 11 months seem pretty different from what happened in March and in 11 months it seemed like fastest growing economy, domestic activity was fairly robust, and from our own telecom point of view significant growth in traffic on the 5G network and so on. All the measures taken on GST rationalization, the easing rate cycle, monsoons were good and that gave broadly consumption tailwinds were decent there, energy prices also give or take, was range bound and even growth in both fuel and refined products remained steady and then you go into March. We all know the numbers almost doubling of 70% higher in some cases, even in gas it went up to double, of course the concern for everybody and all of us is the fact that the supply shock and its impact on industry and consumer confidence, that is something that as it is happening, everybody is grappling with it. Rupee depreciation obviously is an area of concern, 11% for th
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