Reliance Industries Limited — Investor Meet, 26-04-2026: Analysts/Institutional Investor Meet/Con. Call Updates

RIL reported resilient Q4 and full-year FY26 results. Group EBITDA was flat QonQ due to energy headwinds, but consumer businesses (Jio, Retail) surged 14%. Jio Platforms saw 19% FY26 EBITDA growth, adding 36 million subscribers and 77 million 5G users, with ARPU up 4%. Retail hit record revenues of Rs.98,000 Cr, expanding hyperlocal commerce and passing 20,000 stores.

Energy businesses navigated tough geopolitical headwinds through agile crude sourcing. Refining cracks are seen as structurally strong. New Energy secured a major green ammonia contract. Management is confident in strategic growth, with Jio's IPO imminent and new energy/digital services scaling up. The overall sentiment is positive on future growth drivers.