Reliance Industries Ltd. used its 2026 annual general meeting to highlight record financial performance and lay out growth plans spanning telecom, artificial intelligence, clean energy, retail and mobility.
Shares of the company were trading around ₹1,338, about 17% below their 52-week high of ₹1,612. Reliance had a market capitalisation of ₹18.1 lakh crore and traded at a price-to-earnings ratio of 23.2.
Record FY26 earnings
Reliance reported its highest-ever annual profit during FY26.
FY26 highlights
- Revenue: ₹11.76 lakh crore
- EBITDA: ₹2.08 lakh crore
- Net profit: ₹95,754 crore
Net profit increased 17.8% from the previous year, while revenue grew 9.8%.
Management attributed the performance to contributions from:
- Energy
- Digital services
- Retail
- Emerging businesses
Jio IPO moves ahead
One of the key announcements at the AGM was progress on the proposed Jio IPO.
The company said its board has approved the Draft Red Herring Prospectus (DRHP), which has been filed with SEBI.
Management described the public issue as an important value-creation opportunity for shareholders.
Jio continues to remain one of the group’s main growth drivers.
AI becomes a strategic priority
Reliance placed significant emphasis on artificial intelligence.
The company said it plans to make AI available at scale through its “Reliance Intelligence” initiative.
Among the AI-based offerings discussed was:
- Jio Call Agent
Management said AI capabilities will be integrated across both consumer and enterprise businesses.
The company also plans to build digital infrastructure to support India’s growing AI requirements.
Green energy investments
Reliance reaffirmed its plans in clean energy and manufacturing.
The company is developing the 5,000-acre Dhirubhai Ambani Green Energy Giga Complex at Jamnagar.
It also plans to expand:
- Battery Energy Storage Systems (BESS)
- Cell Giga Factory capacity
Target capacity is expected to reach 120 GWh annually.
Management said the investments are aimed at supporting India’s energy transition and creating a large-scale manufacturing ecosystem.
O2C business transformation
Reliance said its Oil-to-Chemicals (O2C) business is shifting towards:
- Higher chemical conversion
- Advanced materials
- Sustainable operations
The company reiterated its ambition to achieve carbon neutrality at least 20 years ahead of India’s 2070 net-zero target.
Retail business remains a growth pillar
Reliance Retail continued to be highlighted as a key business segment.
Management said the company will focus on:
- Improving customer experience
- Expanding product offerings
- Strengthening physical and digital channels
The group expects India’s consumption story to provide long-term growth opportunities.
Jio-bp expands network
Reliance’s mobility and fuel retail business also reported growth.
Jio-bp highlights
- Fuel sales volumes increased 29% year-on-year
- Retail network expanded to nearly 2,200 outlets
Management said higher scale and customer adoption supported the business.
Through Reliance Foundation, the company said it has impacted more than 97 million people across the country.
The group reiterated its focus on:
- Healthcare
- Education
- Digital infrastructure
- Energy security
- Sustainability
- Technology
About Reliance Industries
Reliance Industries operates businesses across:
- Oil and gas
- Petrochemicals
- Telecom
- Retail
- New energy
The company is increasingly expanding into areas such as:
- Artificial intelligence
- Green energy
- Advanced manufacturing
- Digital services
TL;DR:
Reliance Industries reported record FY26 earnings and announced progress on the Jio IPO at its AGM. The company also outlined plans in AI, green energy, retail and mobility, while targeting 120 GWh of battery manufacturing capacity.
AI Summary:
- Reliance reported FY26 net profit of ₹95,754 crore.
- Jio’s DRHP has been approved and filed with SEBI.
- AI initiatives will be rolled out under “Reliance Intelligence.”
- The company plans 120 GWh battery manufacturing capacity.
- Jio-bp expanded its network to nearly 2,200 outlets.
