Reliance Industries Limited (RIL) has reported a robust financial and operational performance for the first quarter of fiscal year 2026 (FY26). The company’s consolidated gross revenue increased by 6% year-on-year, reaching ₹273,252 crore (approximately $31.9 billion). Additionally, the group’s EBITDA experienced a significant surge of 35.7%, climbing to ₹58,024 crore (around $6.8 billion), indicating a solid recovery across various business segments.
Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited, stated: “Reliance has begun FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1Q FY26 improved strongly from a year-ago period, despite significant volatility in global macros.”
Reliance Retail Ventures Limited (RRVL), the retail division of the conglomerate, reported quarterly revenue of ₹84,171 crore (about $9.76 billion), reflecting an 11.3% increase compared to the previous year. The EBITDA for this segment rose by 12.7% to ₹6,381 crore, while EBITDA margins improved by 20 basis points to 8.7%. The revenue growth was driven by strong performances in grocery, fashion, and lifestyle segments, as noted in the company’s financial statement.
During the quarter, Reliance added 388 new stores, increasing its total retail footprint to 19,592 stores across 77.6 million square feet. The registered customer base grew to 358 million, reflecting a 13.3% annual increase, and total transactions rose by 16.5% year-on-year to 389 million.
The fashion and lifestyle segment particularly stood out, fueled by new formats like Gap, Azorte, and Yousta, which achieved a remarkable 59% year-on-year growth and now collectively operate over 170 stores. The company continued to expand into non-apparel categories such as footwear, beauty, and accessories.
Ajio, Reliance’s e-commerce fashion platform, saw significant improvements in customer engagement. The revenue share from new users increased by 150 basis points year-on-year to 18%, and the average bill value grew by 17%. The platform expanded its catalog by 44%, now offering over 2.6 million options, thanks to the introduction of several new brands. The launch of Ajio Rush, a 4-hour delivery service in six cities, enhanced convenience and increased average order values while reducing returns.
Shein, returning to India via a partnership with Reliance, gained strong traction with over 2 million app downloads and more than 20,000 live products.
In the realm of premium offerings, Ajio Luxe expanded its portfolio to include 875 brands, while Hamleys launched the Green Club, a sustainability initiative for children, and introduced the Mothercare Everyday range to enhance its kidswear collection.
Isha M. Ambani, Executive Director of Reliance Retail Ventures Limited, commented: “Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility.”
In the polyester segment, margins faced challenges, with chain margins declining to $446/MT from $489/MT during the same quarter last year. Paraxylene (PX) margins over naphtha decreased by 34% due to oversupply. However, margins for monoethylene glycol (MEG) improved from a low base, bolstered by lower inventory levels at Chinese ports. Downstream polyester product margins remained stable, supported by soft input prices and an increase in global demand.
