Reliance Industries Ltd.

RELIANCEEnergy filings

Earnings calls

22 transcript(s)/analyst meet(s) served; 8 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 22 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
COVER_LETTER	20220507	2022-03-31	no
COVER_LETTER	20220723	2022-06-30	no
TRANSCRIPT	20221022	2022-09-30	yes
TRANSCRIPT	20230121	2022-12-31	yes
TRANSCRIPT	20230422	2023-03-31	yes
TRANSCRIPT	20230722	2023-06-30	yes
TRANSCRIPT	20231028	2023-09-30	yes
TRANSCRIPT	20240120	2023-12-31	yes
TRANSCRIPT	20240423	2024-03-31	yes
TRANSCRIPT	20240720	2024-06-30	yes
TRANSCRIPT	20241015	2024-09-30	yes
TRANSCRIPT	20250117	2024-12-31	yes
DUPLICATE	20250117	2024-12-31	no
ANALYST_MEET	20250426	2025-03-31	yes
COVER_LETTER	20250719	2025-06-30	no
ANALYST_MEET	20250720	2025-06-30	yes
COVER_LETTER	20251018	2025-09-30	no
ANALYST_MEET	20251019	2025-09-30	yes
COVER_LETTER	20260117	2025-12-31	no
ANALYST_MEET	20260118	2025-12-31	yes
COVER_LETTER	20260425	2026-03-31	no
ANALYST_MEET	20260426	2026-03-31	yes
COVER_LETTER	20260718	2026-06-30	no

Model workbook

Download RELIANCE_model_v2.xlsx — every figure in it names the filing, the reporting context and the period it was read from.

Commentary — cross-call tabulation

Quarter	Theme	Management sentences	Analyst sentences	Management share
Q1FY24	AI and technology	17	0	0.04
Q1FY24	Capex and capacity	7	0	0.02
Q1FY24	Capital allocation	8	0	0.02
Q1FY24	Competition	2	0	0.01
Q1FY24	Credit quality	1	0	0.00
Q1FY24	Currency and macro	5	0	0.01
Q1FY24	Demand and volumes	53	0	0.13
Q1FY24	Deposits and liquidity	1	0	0.00
Q1FY24	Distribution and persistency	17	0	0.04
Q1FY24	Margins and costs	8	0	0.02
Q1FY24	People and attrition	0	0	0.00
Q1FY24	Pricing and realisation	17	0	0.04
Q1FY24	Raw materials and input costs	11	0	0.03
Q1FY24	Regulation and policy	6	0	0.02
Q1FY25	AI and technology	22	0	0.06
Q1FY25	Capex and capacity	13	0	0.04
Q1FY25	Capital allocation	7	0	0.02
Q1FY25	Competition	0	0	0.00
Q1FY25	Credit quality	0	0	0.00
Q1FY25	Currency and macro	0	0	0.00
Q1FY25	Demand and volumes	55	0	0.16
Q1FY25	Deposits and liquidity	0	0	0.00
Q1FY25	Distribution and persistency	19	0	0.06
Q1FY25	Margins and costs	13	0	0.04
Q1FY25	People and attrition	0	0	0.00
Q1FY25	Pricing and realisation	12	0	0.04
Q1FY25	Raw materials and input costs	6	0	0.02
Q1FY25	Regulation and policy	9	0	0.03
Q1FY26	AI and technology	68	0	0.06
Q1FY26	Capex and capacity	18	0	0.02
Q1FY26	Capital allocation	15	0	0.01
Q1FY26	Competition	9	0	0.01
Q1FY26	Credit quality	0	0	0.00
Q1FY26	Currency and macro	0	0	0.00
Q1FY26	Demand and volumes	52	0	0.05
Q1FY26	Deposits and liquidity	1	0	0.00
Q1FY26	Distribution and persistency	36	0	0.03
Q1FY26	Margins and costs	49	0	0.05
Q1FY26	People and attrition	0	0	0.00
Q1FY26	Pricing and realisation	19	0	0.02
Q1FY26	Raw materials and input costs	27	0	0.02
Q1FY26	Regulation and policy	7	0	0.01
Q2FY23	AI and technology	23	0	0.06
Q2FY23	Capex and capacity	12	0	0.03
Q2FY23	Capital allocation	6	0	0.01
Q2FY23	Competition	2	0	0.00
Q2FY23	Credit quality	0	0	0.00
Q2FY23	Currency and macro	4	0	0.01
Q2FY23	Demand and volumes	49	0	0.12
Q2FY23	Deposits and liquidity	0	0	0.00
Q2FY23	Distribution and persistency	15	0	0.04
Q2FY23	Margins and costs	10	0	0.02
Q2FY23	People and attrition	1	0	0.00
Q2FY23	Pricing and realisation	18	0	0.04
Q2FY23	Raw materials and input costs	8	0	0.02
Q2FY23	Regulation and policy	6	0	0.01
Q2FY24	AI and technology	19	0	0.05
Q2FY24	Capex and capacity	12	0	0.03
Q2FY24	Capital allocation	8	0	0.02
Q2FY24	Competition	0	0	0.00
Q2FY24	Credit quality	0	0	0.00
Q2FY24	Currency and macro	0	0	0.00
Q2FY24	Demand and volumes	70	0	0.17
Q2FY24	Deposits and liquidity	0	0	0.00
Q2FY24	Distribution and persistency	18	0	0.04
Q2FY24	Margins and costs	9	0	0.02
Q2FY24	People and attrition	0	0	0.00
Q2FY24	Pricing and realisation	14	0	0.03
Q2FY24	Raw materials and input costs	11	0	0.03
Q2FY24	Regulation and policy	3	0	0.01
Q2FY25	AI and technology	38	0	0.10
Q2FY25	Capex and capacity	7	0	0.02
Q2FY25	Capital allocation	7	0	0.02
Q2FY25	Competition	1	0	0.00
Q2FY25	Credit quality	1	0	0.00
Q2FY25	Currency and macro	1	0	0.00
Q2FY25	Demand and volumes	46	0	0.12
Q2FY25	Deposits and liquidity	1	0	0.00
Q2FY25	Distribution and persistency	14	0	0.04
Q2FY25	Margins and costs	21	0	0.06
Q2FY25	People and attrition	0	0	0.00
Q2FY25	Pricing and realisation	7	0	0.02
Q2FY25	Raw materials and input costs	7	0	0.02
Q2FY25	Regulation and policy	8	0	0.02
Q2FY26	AI and technology	38	21	0.10
Q2FY26	Capex and capacity	8	14	0.02
Q2FY26	Capital allocation	4	1	0.01
Q2FY26	Competition	3	1	0.01
Q2FY26	Credit quality	0	1	0.00
Q2FY26	Currency and macro	0	0	0.00
Q2FY26	Demand and volumes	17	33	0.04
Q2FY26	Deposits and liquidity	0	0	0.00
Q2FY26	Distribution and persistency	11	8	0.03
Q2FY26	Margins and costs	7	10	0.02
Q2FY26	People and attrition	0	0	0.00
Q2FY26	Pricing and realisation	3	14	0.01
Q2FY26	Raw materials and input costs	0	21	0.00
Q2FY26	Regulation and policy	5	8	0.01
Q3FY23	AI and technology	27	0	0.07
Q3FY23	Capex and capacity	13	0	0.03
Q3FY23	Capital allocation	6	0	0.02
Q3FY23	Competition	1	0	0.00
Q3FY23	Credit quality	0	0	0.00
Q3FY23	Currency and macro	5	0	0.01
Q3FY23	Demand and volumes	44	0	0.12
Q3FY23	Deposits and liquidity	0	0	0.00
Q3FY23	Distribution and persistency	20	0	0.05
Q3FY23	Margins and costs	15	0	0.04
Q3FY23	People and attrition	1	0	0.00
Q3FY23	Pricing and realisation	11	0	0.03
Q3FY23	Raw materials and input costs	7	0	0.02
Q3FY23	Regulation and policy	4	0	0.01
Q3FY24	AI and technology	32	0	0.07
Q3FY24	Capex and capacity	9	0	0.02
Q3FY24	Capital allocation	6	0	0.01
Q3FY24	Competition	1	0	0.00
Q3FY24	Credit quality	0	0	0.00
Q3FY24	Currency and macro	1	0	0.00
Q3FY24	Demand and volumes	66	0	0.14
Q3FY24	Deposits and liquidity	0	0	0.00

Guidance items

quarter	metric	direction	sentence	page
Q2FY23	other	nan	We are on track to commission MJ field by year-end.	1
Q2FY23	other	nan	Of course, the 5G rollout that is now underway, will substantially improve both consumption as well as the subscriber mix, and this is expected to improve both	1
Q2FY23	other	nan	Pan-India rollout by the end of next year.	1
Q2FY23	capex	nan	Our efforts in expansion are on track, we opened 795 stores during this period to end the total store count at 16,617 stores at the end of September.	1
Q2FY23	other	nan	So, launch of a range of local rice as staple options, launch of low-calorie potatoes, branded coconuts…these are some of the examples of how we have been reall	1
Q2FY23	other	nan	With respect to the MJ gas condensate field project being pretty much on track, for the first gas production by the end of the year.	1
Q2FY23	other	nan	The Phase-II drilling and completion campaign is currently underway, and we've completed one well, then we are on track for completion on seven wells.	1
Q2FY23	other	nan	So, just to give you a perspective on the gas market, and the LNG outlook.	1
Q2FY23	other	nan	Overall, Asian LNG continues to track the EU prices and as we don't expect any major capacities of LNG coming in before the 2026, we expect the markets to remai	1
Q2FY23	pricing	nan	Potentially, the upstream producers, are saying that there should be marketing and pricing freedom, pursuant to the policies and the contracts.	1
Q2FY23	other	nan	This is expected to come out in the next few weeks.	1
Q2FY23	other	nan	Overall, the outlook for the gas, LNG looks quite tight in the near future, so we expect that the price realizations will remain firm.	1
Q2FY23	other	nan	And with the augmentation of production from MJ field, we expect the earnings to go upwards.	1
Q3FY23	other	nan	And as you know, the target is to complete that by December 2023.	1
Q3FY23	other	nan	With a stable production base of about 19 MMSCMD and KGD6 MJ field is on track for fourth quarter of FY23.	1
Q3FY23	other	nan	Likewise, another exciting frontier being unlocked by 5G is what we are calling Jio AirFiber which is about bringing our very popular Jio Fiber which is our opt	1
Q3FY23	other	nan	Similarly, there are solutions that we are targeting for small manufacturers, for hospitals for schools, and in general work from home of any industry as a hori	1
Q3FY23	other	nan	The contribution of own brands between apparel and footwear categories as well is in the range of about 70% and continues to really bring uniqueness to our offe	1
Q3FY23	other	nan	We expect commissioning of the fields within the span of this year.	1
Q3FY23	capex	nan	The important facet is that once this production starts, by sometime in FY 24 and within a few months later, we should be able to achieve full capacity and ther	1
Q3FY23	other	nan	The global gas outlook remained buoyant and still remains quite robust.	1
Q3FY23	other	nan	Plus, there is some higher flow from Norway and then the new FSRUs in Netherland, about three to four of them, are expected to be commissioned this year.	1
Q3FY23	other	nan	However, there remains an uncertainty again because of the geopolitical uncertainties and as well as the weather, but we expect demand to be quite robust given,	1
Q3FY23	pricing	nan	Post that should be open market-based pricing.	1
Q3FY23	other	nan	At the current juncture, the ceiling price remains at $ 12.46 per MMBtu and revision of price will be expected just before the first half of next fiscal.	1
Q3FY23	other	nan	Coming to the broader business dynamics, starting with demand side, demand is expected to grow in 2023 by 1.9 million barrels.	1
Q3FY23	other	nan	Mid distillates are expected to remain firm.	1
Q3FY23	other	nan	Polymer margins is expected to improve with demand coming back from China, USA.	1
Q3FY23	other	nan	Jio True 5G is now available in more than 100 cities and our target is to completely roll out by December of 2023. 15 © Reliance Industries Limited 2020 We are	1
Q4FY23	other	nan	Net profit is at ₹ 74,100 crore, was up 14% on pre- exceptional basis and up 9.2% if you include exceptional gain in FY22.	1
Q4FY23	credit cost / asset quality	LOWERED	On a Q-o-Q basis, EBITDA growth led by O2C and digital services and net profits were up 20% benefiting from lower tax provision with availing of lower tax provi	1
Q4FY23	other	nan	Our target really with AirFiber is that from the tens of millions of homes that they were looking to acquire on a yearly basis, thanks to JioFiber, can be more	1
Q4FY23	other	nan	Our consolidated revenues for the financial year 2023 was a shade over 98,000 crores, which is more than 20% year on year growth as compared to the last financi	1
Q4FY23	other	nan	Consumer brands business continues its strong growth trajectory.	1
Q4FY23	other	nan	We expect to commission the field this quarter and commence production.	1
Q4FY23	other	nan	Also, we expect to ramp up from this field to achieve about 12 million standard cubic meters per day, this fiscal.	1
Q4FY23	other	nan	All in all, we are expecting to ramp up the production to a peak of about 30 million standard cubic meters per day, which will be about 30% of India's domestic	1
Q4FY23	other	nan	I'll say a few words about what we think about the outlook in the subsequent slides.	1
Q4FY23	other	nan	So, with regards to the overall outlook on gas prices, as we've seen in recent times, gas prices have been a lot softer and mainly driven by a milder winter in	1
Q4FY23	capex	nan	However, with the Russian gas supply to the EU is likely to reduce to nearly 20% of pre-war levels, the dependency on LNG imports will increase, and now with no	1
Q4FY23	other	nan	That's broadly the outlook on gas prices going forward and gas outlook.	1
Q4FY23	other	nan	That's our view and along with the production upside that you see, it bodes well for the outlook.	1
Q4FY23	other	nan	And we saw the growth rates and polymer and polyester in FY23, and you know that really follows the economic growth trajectory.	1
Q4FY23	other	nan	For us developing and very affordable renewable energy system, ensuring progress towards Net Zero, and importantly, that also is a big driver of earnings and gr	1
Q1FY24	other	nan	And the important point here is of the accelerated rollout of 5G network is on track and expected to be completed by December 2023.	1
Q1FY24	other	nan	So, all in all, we are on track to complete what is going to be the fastest 5G rollout anywhere in the world, creating a pan-India coverage for a large country	1
Q1FY24	other	nan	So, our home gateway is now going forward will be Wi Fi 6 compatible which also means better indoor coverage. through Wi Fi as well.	1
Q1FY24	other	nan	I think looking forward, we can see even more content coming to the through the streaming format as compared to what has traditionally been a linear broadcast-o	1
Q1FY24	other	nan	Kiran spoke about the 5G coverage, and we are well on track to compete pan-India coverage before the end of the year.	1
Q1FY24	other	nan	That gives us a big advantage over people where we are able to provide same day / next day installation as well as a target out of warranty opportunity which no	1
Q1FY24	other	nan	Both are targeting the kirana segment.	1
Q1FY24	other	nan	Our consumer brands business: We continue our growth trajectory; we continue to expand entry into new categories as well as enter new geographies by increasing	1
Q1FY24	other	nan	We also launched a range of deodorants with Europer perfumes…that again is paying very good traction in the initial in the period of launch.	1
Q1FY24	other	nan	We have about two more wells to come on stream, but we are now already at 28 and a half million standard cubic meters, and we are well on track to achieve 30 mi	1
Q1FY24	other	nan	Just to give you a perspective on gas outlook, the impact on India, the demand and price aspects.	1
Q1FY24	other	nan	So, what we have witnessed in the European Union is the saving of gas was 20% as against a target of 15%.	1
Q1FY24	other	nan	We, expect to realize a higher price than the benchmark which should stand us in good stead.	1
Q1FY24	other	nan	In terms of the outlook, we expect price volatility to continue this fiscal particularly considering high storage levels and higher nuclear output from Japan an	1
Q1FY24	other	nan	And with the policy support, this should at least hold us in good stead on the price outlook.	1
Q1FY24	other	nan	Recovering in China's international travel is positive for jet fuel, and the fact that downstream chemical demand in India is expected to be robust on the back	1
Q1FY24	other	nan	Overall KGD6, as Sanjay highlighted, we are close to delivering 30 MMSCMD in FY 24, that will be 30% of India's gas production.	1
Q1FY24	other	nan	The fact that we have a diversified portfolio across consumption basket helps us on the strong growth and growth outlook.	1
Q2FY24	capex	nan	And, you know, we do expect that the capex intensity will significantly decline given that the 5G network rollout is expected to be completed by the end of this	1
Q2FY24	other	nan	I think really the target for us is that ambition that we had of connecting north of 100 mn premises in the quickest possible way, is now getting rapidly and su	1
Q2FY24	other	nan	In terms of CBM the production remained steady in the base production, and in terms of the 40 well program that we have initiated, we expect production ramp up	1
Q2FY24	other	nan	This is as part of our infrastructure that exploration efforts. 16 © Reliance Industries Limited 2020 In terms of production as you can see, we are well on cour	1
Q2FY24	other	nan	Our focus will be enough to sustain this production going forward.	1
Q2FY24	other	nan	Now, overall, the LNG demand was quite tepid, and what we what we expect now is in the short term, the winter will play a key role.	1
Q2FY24	other	nan	So overall, we expect gas prices to remain firm and production to continue at 30 mmscmd.	1
Q2FY24	other	nan	So, we do think that demand is expected to remain strong even when if we are to look at estimates from IEA.	1
Q2FY24	other	nan	You're seeing that for next year, we are talking about still 0.9 million barrels per day increase to ’23, which shot up by 2.2 million barrels.	1
Q2FY24	margin	nan	On the global downstream chemicals, the margins are expected to remain blocked in the near term given the given the supply overhang, but any moderation in suppl	1
Q2FY24	margin	nan	So, that outlook remains strong, and we may have an edge there and the fact that, the broader geopolitical tensions, things like oil production cuts by OPEC, al	1
Q2FY24	capex	nan	We think that capex will peak in FY24 with completion of the fast track of 5G rollout by the end of this year.	1
Q2FY24	other	nan	In MJ field, production ramp up is happening, and broader outlook is that supply uncertainties will keep gas prices elevated.	1
Q3FY24	other	nan	And for the whole year it is 38 Mn, very strong performance there.	1
Q3FY24	other	nan	Also, if you see the growth that we are seeing, the Jio leadership growth that we are seeing in the rural markets, again, the market where I think this product	1
Q3FY24	other	nan	On the B2B side, the Metro in the acquisition on integration is on track with our B2B business as we are aligning the two businesses and that's working out well	1
Q3FY24	other	nan	Also targeting the out of warranty opportunity there.	1
Q3FY24	other	nan	With all 19 wells in production from three fields, we have seen production increase, and we expect this will sustain.	1
Q3FY24	other	nan	We expect the results to come in over the next two quarters.	1
Q3FY24	other	LOWERED	So, in terms of the gas market outlook, clearly, the winter has been a lot milder in Europe, which essentially resulted in higher inventory levels and lower dem	1
Q3FY24	other	nan	The sense is the short-term prices will be guided by the severity of the winter.	1
Q3FY24	other	LOWERED	So, while deltas are definitely lower, but you can see an absolute level they still remain in some sense healthy and overall outlook also for gas oil remains go	1
Q3FY24	other	nan	Gasoil cracks are also expected to remain firm, given the demand for jet fuel as well as the fact that there is limited availability of heavy crude.	1
Q3FY24	other	nan	On downstream side on the chemical side, clearly market is expected to remain well supplied in the near term.	1
Q3FY24	other	nan	And, you know, we are on track to commence the New Energy facilities in phases starting end of this year.	1
Q4FY24	other	nan	And clearly, we have talked about keeping net debt to EBIDTA below 1x and at these levels it will be about 0.65.	1
Q4FY24	other	nan	You know, going forward, this kind of balance sheet provides unparalleled financial flexibility.	1
Q4FY24	other	nan	Moving on to the full year numbers for RJIL, the operating revenues for the full year for RJIL standalone also went up to cross one lakh crore.	1
Q4FY24	margin	nan	For the full year, the EBITDA from operations was at 8.1%, which is a 50-basis points Y-o-Y growth.	1
Q4FY24	other	nan	Both footfalls and transactions were over a billion for the financial year.	1
Q4FY24	margin	nan	In terms of overall revenue, if you look at it Rs 3,00,600 crores for the year, total EBITDA of Rs 23,000 crores and profit after tax of Rs 11,000 crores for th	1
Q4FY24	other	nan	During the quarter, we also launched a new brand WYZR where we introduced a range of coolers, and we will be expanding it to other categories.	1
Q4FY24	other	nan	It is a very popular brand in Sri Lanka, and have also given them reciprocal rights to sell Campa in Sri Lanka so that we are able to target markets beyond Indi	1
Q4FY24	other	nan	The outlook for the gas markets, we've seen two consecutive winters that have been mild.	1
Q4FY24	other	nan	Also, there is potential uncertainty of Russian supplies going forward with the contract expiry expected in September ‘24.	1
Q4FY24	other	nan	So, we expect the gas prices to be more stable going forward, supported by high demand and the current price.	1
Q4FY24	deal wins / order book	nan	Further, with pipeline infrastructure projects currently underway, we expect the current 24,000 kilometres of pipeline in the country to be augmented by another	1
Q4FY24	other	nan	The other points clearly you can see, focus has been on crude and ethane sourcing, focus on domestic fuel sales, optimization of gasoline versus PX, focus on ga	1
Q4FY24	other	LOWERED	The gasoline cracks, we think, is expected to be supported by strong seasonal demand, the fact that there is lower inventory.	1
Q4FY24	other	nan	Middle distillates likely to remain firm given the disruptions and refinery vulnerability in conflict zones.	1
Q4FY24	capex	nan	And downstream chemical margins are expected to recover gradually with a slowing pace of capacity addition.	1
Q4FY24	capex	nan	Consumer EBITDA particularly is up 4x in the same period, and when you think about each of the businesses, in our minds there is strong visibility of continuing	1
Q4FY24	other	nan	Balance sheet looks strong, businesses delivering strong results and Outlook also remains pretty, pretty robust.	1
Q1FY25	other	nan	So, you know, the things that we were targeting have been delivered quite well this quarter.	1
Q1FY25	other	nan	And, as we keep deploying across the country, we expect to be able to connect many more homes in the quarters to come.	1
Q1FY25	other	nan	We expect, as was on expected lines post tariff increase.	1
Q1FY25	other	nan	You know something that we used to speak about when we had just about started, that consumer should be consuming more than a GB of data per day.	1
Q1FY25	other	nan	This model enables us to offer an omni-channel model to the merchants, where they come into the stores and experience the wide range of assortment.	1
Q1FY25	other	nan	We're also leveraging our hyperlocal presence for customer acquisition and target them for grocery and cross-sell other categories through targeted intervention	1
Q1FY25	other	nan	We are able to take very targeted initiatives and create customer stickiness through an omni-channel offering.	1
Q1FY25	other	nan	We have completed 21 wells, and the 13 © Reliance Industries Limited 2020 balance wells are expected to be put online by the year end, and we expect to see an i	1
Q1FY25	other	nan	In the short term, we expect prices to be range bound.	1
Q1FY25	capex	nan	We don't expect any major new LNG capacity additions, as well as there is expected to be maintenance activities in the Norwegian fields.	1
Q1FY25	other	nan	Overall, we expect prices to remain supported in the near term.	1
Q1FY25	deal wins / order book	nan	Overall, with the pipeline infrastructure we have and surge in power demand, we expect the demand to remain robust in India.	1
Q1FY25	other	nan	Overall, when you look at the business environment, the global oil demand expected to normalize this year at about a million barrels per day, as you know that w	1
Q1FY25	other	nan	Overall, downstream as I mentioned you are seeing a gradual improvement with demand recovering, and also importantly the slowing pace of new supply, and the fac	1
Q1FY25	capex	nan	Going forward, it is not very obvious that there will be surges in this kind of capacity increase, so we'll have to wait and watch there.	1
Q1FY25	other	nan	Overall, as I was highlighting, fuel markets are likely to remain supported by seasonal demand drivers for gasoline.	1
Q2FY25	other	nan	Our focus on strengthening of tech platforms, infrastructure, the streamlining of operations, as well as having a calibrated approach in B2B, is expected to wor	2
Q2FY25	other	nan	Post that we expect to revert to our industry leading growth momentum, as can be seen even in this quarter, because if you see the operational parameters, footf	2
Q2FY25	other	nan	So, again the operating model that we have and the execution and the teams that we have, helped deliver a resilience performance because when you see the O2C nu	2
Q2FY25	other	nan	And we are on track.	2
Q2FY25	other	nan	And our target now, the next target that we have is to add nearly 1 million homes every given month.	2
Q2FY25	other	RAISED	There was some bit of SIM consolidation that we observed, though much lesser this time than what we'd observed the last time tariffs had been raised, and we exp	2
Q2FY25	other	nan	We are quite happy with the uptake of this service and the nature of delivery itself and we expect to keep improving on this.	2
Q2FY25	other	nan	The total data traffic which went up to 45 Exabytes during the quarter, we expect this to keep growing.	2
Q2FY25	other	nan	And we expect this momentum to continue going on to Diwali and beyond.	2
Q2FY25	other	nan	So, the outlook is quite optimistic for this quarter in that respect.	2
Q2FY25	other	nan	We are seeing very, very strong momentum in this business, especially this format, which continues to do very well targeting the younger generation.	2
Q2FY25	other	nan	Both Average Bill values and revenues have shown strong growth, while the volumes have not declined, in spite of the gold prices increasing substantially, so, t	2
Q2FY25	other	nan	We continue to launch new collections to have targeted offerings which are targeted towards specific occasions, which help us differentiate ourselves in the mar	2
Q2FY25	other	nan	Overall, the outlook for demand and price looks good.	2
Q2FY25	other	nan	But as such, what we see going forward is the prices should be supported or should remain elevated on the back of a delay in the startup of new terminals, parti	2
Q2FY25	other	nan	So overall, we feel the prices should be much better.	2
Q2FY25	margin	nan	When you look at the demand and margin environment, the point here is that overall demand growth for oil is expected to be a million barrels per day, and this i	2
Q2FY25	other	nan	For India’s downstream demand, we do expect to benefit from the upcoming festive season, and also the fact that cotton versus staple fibre deltas are very high,	2
Q2FY25	other	nan	We expect it to revert back to the industry leading momentum that we have seen.	2
Q2FY25	other	nan	And what Dinesh talked about, you can see that we expect to remain strong there.	2
Q3FY25	other	nan	All of the features that one would expect to store, to share, to sync, secure.	2
Q3FY25	other	nan	We already are at 4.5 million Jio AirFiber homes connected, and which will be fairly, you know the rate at which we are growing, we should be the largest air fi	2
Q3FY25	other	nan	As most of you are aware we have subscribers who are on longer term plans and who tend to recharge over a longer period of time and therefore we expect some mor	2
Q3FY25	other	nan	And you know the affordability as well as increasing engagement should sustain both in the subscriber growth run rate as well as the ARPU growth in the coming q	2
Q3FY25	other	nan	We also signed the India franchise for Saks Fifth Avenue to target the super luxury segment.	2
Q3FY25	other	nan	The Tyohaar Ready Sale, a marquee property that we have built targeting the festive season.	2
Q3FY25	other	nan	We had a bunch of, you know, local events targeting various occasions to really drive engagement with the merchant, Kirana partners.	2
Q3FY25	other	nan	Each one of them individually should cross Rs 1000 crores turnover in FY25.	2
Q3FY25	other	nan	There are several businesses doing exceedingly well, and we're optimistic that going forward, quarter on quarter, we should show healthy growth, coupled with al	2

Claims reconciled to filings

Quarter	Metric	Claimed	Kind	Anchor	Anchor value	Verdict	Source
Q2FY23	profit after tax	15,512 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p3
Q2FY23	revenue growth	29 %	ratio	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p3
Q2FY23	revenue growth	33 %	ratio	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p4
Q2FY23	revenue growth	32 %	ratio	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p4
Q2FY23	revenue	24,275 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	operating profit / EBITDA	12,011 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	revenue	22,521 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	operating profit / EBITDA	11,601 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	revenue	24,075 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	profit after tax	4,729 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	operating profit / EBITDA	12,000 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p7
Q2FY23	operating profit / EBITDA	4,404 crores	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	operating margin	7.6 %	ratio	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	revenue	64,920 crores	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	revenue growth	64,920 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	operating profit / EBITDA	4404 crores	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	operating margin	7.4 %	ratio	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p8
Q2FY23	operating profit / EBITDA	34,663 crore	money	nan	nan	NOT_YET_FILED_IN_POC	Date_20221022_Reliance Industr p16
Q3FY23	operating margin	52.5 %	ratio	EBITDA / core revenue	0.17	DIVERGES	Date_20230121_Reliance Industr p8
Q3FY23	revenue growth	17 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230121_Reliance Industr p9
Q3FY23	operating profit / EBITDA	4773 crores	money	derived EBITDA	383,940,000,000.00	DIVERGES	Date_20230121_Reliance Industr p9
Q3FY23	revenue	67,623 crores	money	REVENUE_FROM_OPERATIONS	2,205,920,000,000.00	DIVERGES	Date_20230121_Reliance Industr p9
Q3FY23	operating profit / EBITDA	4,657 crores	money	derived EBITDA	383,940,000,000.00	DIVERGES	Date_20230121_Reliance Industr p9
Q3FY23	revenue	1,45,000 crore	money	REVENUE_FROM_OPERATIONS	2,205,920,000,000.00	DIVERGES	Date_20230121_Reliance Industr p13
Q4FY23	operating profit / EBITDA	1,55,000 crore	money	derived EBITDA	413,580,000,000.00	DIVERGES	Date_20230422_Reliance Industr p3
Q4FY23	profit after tax	74,100 crore	money	PROFIT_AFTER_TAX	213,270,000,000.00	DIVERGES	Date_20230422_Reliance Industr p3
Q4FY23	operating profit / EBITDA	68,300 crores	money	derived EBITDA	413,580,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20230422_Reliance Industr p3
Q4FY23	revenue growth	20 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p3
Q4FY23	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p3
Q4FY23	profit after tax	74,000 crores	money	PROFIT_AFTER_TAX	213,270,000,000.00	DIVERGES	Date_20230422_Reliance Industr p4
Q4FY23	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p10
Q4FY23	revenue growth	15 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p10
Q4FY23	revenue growth	20 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p10
Q4FY23	operating profit / EBITDA	17,600 crores	money	derived EBITDA	413,580,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20230422_Reliance Industr p10
Q4FY23	profit after tax	9181 crores	money	PROFIT_AFTER_TAX	213,270,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20230422_Reliance Industr p10
Q4FY23	operating profit / EBITDA	17,900 crores	money	derived EBITDA	413,580,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20230422_Reliance Industr p10
Q4FY23	revenue growth	19 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p11
Q4FY23	revenue	69,267 crores	money	REVENUE_FROM_OPERATIONS	2,163,760,000,000.00	DIVERGES	Date_20230422_Reliance Industr p11
Q4FY23	profit after tax	2,400 crores	money	PROFIT_AFTER_TAX	213,270,000,000.00	DIVERGES	Date_20230422_Reliance Industr p11
Q4FY23	operating profit / EBITDA	4900 crores	money	derived EBITDA	413,580,000,000.00	DIVERGES	Date_20230422_Reliance Industr p11
Q4FY23	revenue growth	88 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230422_Reliance Industr p12
Q4FY23	operating profit / EBITDA	16,300 crore	money	derived EBITDA	413,580,000,000.00	DIVERGES	Date_20230422_Reliance Industr p15
Q1FY24	revenue growth	12.5 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230722_Reliance Industr p3
Q1FY24	revenue growth	5 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230722_Reliance Industr p4
Q1FY24	revenue	26,115 crores	money	REVENUE_FROM_OPERATIONS	2,108,310,000,000.00	DIVERGES	Date_20230722_Reliance Industr p8
Q1FY24	revenue	24,042 crores	money	REVENUE_FROM_OPERATIONS	2,108,310,000,000.00	DIVERGES	Date_20230722_Reliance Industr p8
Q1FY24	operating profit / EBITDA	12,663 crores	money	derived EBITDA	419,060,000,000.00	DIVERGES	Date_20230722_Reliance Industr p8
Q1FY24	operating margin	52.7 %	ratio	EBITDA / core revenue	0.20	SEGMENT_OR_SUBSET_CLAIM	Date_20230722_Reliance Industr p8
Q1FY24	revenue	26,115 crores	money	REVENUE_FROM_OPERATIONS	2,108,310,000,000.00	DIVERGES	Date_20230722_Reliance Industr p8
Q1FY24	revenue growth	19 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230722_Reliance Industr p8
Q1FY24	revenue	69,948 crores	money	REVENUE_FROM_OPERATIONS	2,108,310,000,000.00	DIVERGES	Date_20230722_Reliance Industr p9
Q1FY24	operating profit / EBITDA	5000 crores	money	derived EBITDA	419,060,000,000.00	DIVERGES	Date_20230722_Reliance Industr p9
Q1FY24	profit after tax	2448 crores	money	PROFIT_AFTER_TAX	182,580,000,000.00	DIVERGES	Date_20230722_Reliance Industr p9
Q1FY24	operating profit / EBITDA	5139 crores	money	derived EBITDA	419,060,000,000.00	DIVERGES	Date_20230722_Reliance Industr p9
Q1FY24	revenue growth	4,632 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20230722_Reliance Industr p12
Q2FY24	revenue growth	19 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20231028_Reliance Industr p3
Q2FY24	revenue growth	11 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20231028_Reliance Industr p3
Q2FY24	revenue	1,48,000 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	DIVERGES	Date_20231028_Reliance Industr p4
Q2FY24	revenue	6,620 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	DIVERGES	Date_20231028_Reliance Industr p4
Q2FY24	operating profit / EBITDA	4,800 crore	money	derived EBITDA	448,090,000,000.00	DIVERGES	Date_20231028_Reliance Industr p4
Q2FY24	revenue growth	72 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20231028_Reliance Industr p4
Q2FY24	revenue	2,56,000 crore	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	CLOSE_WITHIN_10PCT	Date_20231028_Reliance Industr p4
Q2FY24	revenue growth	26,875 cr	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20231028_Reliance Industr p10
Q2FY24	revenue	44,750 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20231028_Reliance Industr p11
Q2FY24	operating profit / EBITDA	13,059 cr	money	derived EBITDA	448,090,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20231028_Reliance Industr p11
Q2FY24	revenue	31,537 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	DIVERGES	Date_20231028_Reliance Industr p11
Q2FY24	operating profit / EBITDA	13,500 cr	money	derived EBITDA	448,090,000,000.00	DIVERGES	Date_20231028_Reliance Industr p11
Q2FY24	operating margin	50.3 %	ratio	EBITDA / core revenue	0.19	DIVERGES	Date_20231028_Reliance Industr p11
Q2FY24	profit after tax	5,300 cr	money	PROFIT_AFTER_TAX	198,780,000,000.00	DIVERGES	Date_20231028_Reliance Industr p11
Q2FY24	operating margin	8.1 %	ratio	EBIT / core revenue	0.14	DIFFERENT_BASIS_LIKELY	Date_20231028_Reliance Industr p11
Q2FY24	revenue	77,148 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q2FY24	operating profit / EBITDA	5,820 cr	money	derived EBITDA	448,090,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q2FY24	revenue	77,148 cr	money	REVENUE_FROM_OPERATIONS	2,349,560,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q2FY24	operating profit / EBITDA	5,600 cr	money	derived EBITDA	448,090,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q2FY24	profit after tax	2790 cr	money	PROFIT_AFTER_TAX	198,780,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q2FY24	operating profit / EBITDA	5820 cr	money	derived EBITDA	448,090,000,000.00	DIVERGES	Date_20231028_Reliance Industr p12
Q3FY24	profit after tax	19,641 cr	money	PROFIT_AFTER_TAX	196,410,000,000.00	AGREES	Date_20240120_Reliance Industr p3
Q3FY24	operating profit / EBITDA	44,700 cr	money	derived EBITDA	445,250,000,000.00	AGREES	Date_20240120_Reliance Industr p3
Q3FY24	revenue growth	23 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p4
Q3FY24	operating profit / EBITDA	6,258 crore	money	derived EBITDA	445,250,000,000.00	DIVERGES	Date_20240120_Reliance Industr p4
Q3FY24	revenue growth	11.5 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p4
Q3FY24	revenue growth	50 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p4
Q3FY24	revenue	2,48,000 cr	money	REVENUE_FROM_OPERATIONS	2,279,700,000,000.00	CLOSE_WITHIN_10PCT	Date_20240120_Reliance Industr p4
Q3FY24	revenue growth	3 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p4
Q3FY24	profit after tax	19,641 cr	money	PROFIT_AFTER_TAX	196,410,000,000.00	AGREES	Date_20240120_Reliance Industr p4
Q3FY24	revenue growth	27,700 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p9
Q3FY24	operating profit / EBITDA	13,422 crores	money	derived EBITDA	445,250,000,000.00	DIVERGES	Date_20240120_Reliance Industr p10
Q3FY24	revenue growth	23 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p11
Q3FY24	operating profit / EBITDA	6,258 crores	money	derived EBITDA	445,250,000,000.00	DIVERGES	Date_20240120_Reliance Industr p11
Q3FY24	revenue growth	8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240120_Reliance Industr p12
Q4FY24	profit after tax	10,000 crore	money	PROFIT_AFTER_TAX	212,430,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20240423_Reliance Industr p3
Q4FY24	operating profit / EBITDA	1,79,000 crore	money	derived EBITDA	470,500,000,000.00	DIVERGES	Date_20240423_Reliance Industr p3
Q4FY24	profit after tax	79,000 crore	money	PROFIT_AFTER_TAX	212,430,000,000.00	DIVERGES	Date_20240423_Reliance Industr p3
Q4FY24	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240423_Reliance Industr p4
Q4FY24	operating margin	50.2 %	ratio	EBITDA / core revenue	0.20	DIFFERENT_BASIS_LIKELY	Date_20240423_Reliance Industr p4
Q4FY24	operating profit / EBITDA	62,393 crore	money	derived EBITDA	470,500,000,000.00	DIVERGES	Date_20240423_Reliance Industr p4
Q4FY24	revenue	10,00,000 crore	money	REVENUE_FROM_OPERATIONS	2,407,150,000,000.00	DIVERGES	Date_20240423_Reliance Industr p5
Q4FY24	revenue growth	2.6 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240423_Reliance Industr p5
Q4FY24	profit after tax	21,243 crore	money	PROFIT_AFTER_TAX	212,430,000,000.00	AGREES	Date_20240423_Reliance Industr p5
Q4FY24	operating profit / EBITDA	47,150 crore	money	derived EBITDA	470,500,000,000.00	AGREES	Date_20240423_Reliance Industr p5
Q4FY24	revenue	28,871 crores	money	REVENUE_FROM_OPERATIONS	2,407,150,000,000.00	DIVERGES	Date_20240423_Reliance Industr p9
Q4FY24	operating profit / EBITDA	14,360 crores	money	derived EBITDA	470,500,000,000.00	DIVERGES	Date_20240423_Reliance Industr p9
Q4FY24	revenue	25,959 crores	money	REVENUE_FROM_OPERATIONS	2,407,150,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20240423_Reliance Industr p10
Q4FY24	revenue growth	11 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240423_Reliance Industr p10
Q4FY24	operating margin	53 %	ratio	EBITDA / core revenue	0.20	DIVERGES	Date_20240423_Reliance Industr p10
Q4FY24	profit after tax	5,583 crores	money	PROFIT_AFTER_TAX	212,430,000,000.00	DIVERGES	Date_20240423_Reliance Industr p10
Q4FY24	operating profit / EBITDA	14,360 crores	money	derived EBITDA	470,500,000,000.00	DIVERGES	Date_20240423_Reliance Industr p10
Q4FY24	profit after tax	21,423 crores	money	PROFIT_AFTER_TAX	212,430,000,000.00	AGREES	Date_20240423_Reliance Industr p11
Q4FY24	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240423_Reliance Industr p11
Q4FY24	profit after tax	11,000 crores	money	PROFIT_AFTER_TAX	212,430,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20240423_Reliance Industr p12
Q4FY24	operating profit / EBITDA	23,000 crores	money	derived EBITDA	470,500,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20240423_Reliance Industr p12
Q4FY24	operating profit / EBITDA	62,400 crores	money	derived EBITDA	470,500,000,000.00	DIVERGES	Date_20240423_Reliance Industr p18
Q1FY25	operating profit / EBITDA	42,748 crore	money	derived EBITDA	427,480,000,000.00	AGREES	Date_20240720_Reliance Industr p3
Q1FY25	profit after tax	2,549 crore	money	PROFIT_AFTER_TAX	174,450,000,000.00	DIVERGES	Date_20240720_Reliance Industr p3
Q1FY25	revenue growth	12.8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240720_Reliance Industr p4
Q1FY25	profit after tax	17,500 crore	money	PROFIT_AFTER_TAX	174,450,000,000.00	AGREES	Date_20240720_Reliance Industr p5
Q1FY25	revenue growth	26,478 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240720_Reliance Industr p9
Q1FY25	operating margin	53 %	ratio	EBITDA / core revenue	0.18	DIVERGES	Date_20240720_Reliance Industr p9
Q1FY25	operating margin	49.7 %	ratio	EBITDA / core revenue	0.18	DIVERGES	Date_20240720_Reliance Industr p9
Q1FY25	operating margin	8.2 %	ratio	EBIT / core revenue	0.12	DIVERGES	Date_20240720_Reliance Industr p10
Q1FY25	revenue growth	8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20240720_Reliance Industr p10
Q2FY25	profit after tax	19,323 crores	money	PROFIT_AFTER_TAX	193,230,000,000.00	AGREES	Date_20241015_Reliance Industr p3
Q2FY25	revenue growth	1.1 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241015_Reliance Industr p3
Q2FY25	operating margin	8.5 %	ratio	EBIT / core revenue	0.13	DIVERGES	Date_20241015_Reliance Industr p3
Q2FY25	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241015_Reliance Industr p4
Q2FY25	revenue growth	5.1 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241015_Reliance Industr p4
Q2FY25	operating profit / EBITDA	5,290 crores	money	derived EBITDA	439,340,000,000.00	DIVERGES	Date_20241015_Reliance Industr p4
Q2FY25	profit after tax	19,323 crores	money	PROFIT_AFTER_TAX	193,230,000,000.00	AGREES	Date_20241015_Reliance Industr p5
Q2FY25	profit after tax	7,713 crores	money	PROFIT_AFTER_TAX	193,230,000,000.00	DIVERGES	Date_20241015_Reliance Industr p5
Q2FY25	revenue growth	14.5 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241015_Reliance Industr p12
Q2FY25	operating margin	53.7 %	ratio	EBITDA / core revenue	0.19	DIVERGES	Date_20241015_Reliance Industr p12
Q2FY25	revenue growth	1 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20241015_Reliance Industr p13
Q3FY25	revenue growth	12 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p3
Q3FY25	operating margin	8.6 %	ratio	EBIT / core revenue	0.14	DIVERGES	Date_20250117_Reliance Industr p4
Q3FY25	revenue growth	29,307 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p11
Q3FY25	operating margin	53.9 %	ratio	EBITDA / core revenue	0.20	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue	33,074 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue growth	60 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p12
Q3FY25	profit after tax	6,857 crore	money	PROFIT_AFTER_TAX	219,300,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	operating margin	50.1 %	ratio	EBITDA / core revenue	0.20	DIFFERENT_BASIS_LIKELY	Date_20250117_Reliance Industr p12
Q3FY25	operating profit / EBITDA	6800 crores	money	derived EBITDA	480,030,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue	90,000 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	profit after tax	3500 crores	money	PROFIT_AFTER_TAX	219,300,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	operating profit / EBITDA	6800 crores	money	derived EBITDA	480,030,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	revenue	8000 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250117_Reliance Industr p16
Q3FY25	revenue growth	12 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p3
Q3FY25	operating margin	8.6 %	ratio	EBIT / core revenue	0.14	DIVERGES	Date_20250117_Reliance Industr p4
Q3FY25	revenue growth	29,307 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p11
Q3FY25	operating margin	53.9 %	ratio	EBITDA / core revenue	0.20	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue	33,074 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue growth	60 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250117_Reliance Industr p12
Q3FY25	profit after tax	6,857 crore	money	PROFIT_AFTER_TAX	219,300,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	operating margin	50.1 %	ratio	EBITDA / core revenue	0.20	DIFFERENT_BASIS_LIKELY	Date_20250117_Reliance Industr p12
Q3FY25	operating profit / EBITDA	6800 crores	money	derived EBITDA	480,030,000,000.00	DIVERGES	Date_20250117_Reliance Industr p12
Q3FY25	revenue	90,000 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	profit after tax	3500 crores	money	PROFIT_AFTER_TAX	219,300,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	operating profit / EBITDA	6800 crores	money	derived EBITDA	480,030,000,000.00	DIVERGES	Date_20250117_Reliance Industr p13
Q3FY25	revenue	8000 crores	money	REVENUE_FROM_OPERATIONS	2,438,650,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250117_Reliance Industr p16
Q4FY25	revenue growth	7 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p4
Q4FY25	profit after tax	26,000 crore	money	PROFIT_AFTER_TAX	226,110,000,000.00	DIVERGES	Date_20250426_Reliance Industr p4
Q4FY25	revenue growth	9 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p4
Q4FY25	revenue	1,28,218 crore	money	REVENUE_FROM_OPERATIONS	2,645,730,000,000.00	DIFFERENT_BASIS_LIKELY	Date_20250426_Reliance Industr p5
Q4FY25	revenue growth	30,018 crore	money	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p8
Q4FY25	revenue	61,233 crore	money	REVENUE_FROM_OPERATIONS	2,645,730,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250426_Reliance Industr p8
Q4FY25	operating profit / EBITDA	61,233 crore	money	derived EBITDA	487,370,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250426_Reliance Industr p8
Q4FY25	operating margin	50 %	ratio	EBITDA / core revenue	0.18	DIVERGES	Date_20250426_Reliance Industr p9
Q4FY25	revenue	33,986 crore	money	REVENUE_FROM_OPERATIONS	2,645,730,000,000.00	DIVERGES	Date_20250426_Reliance Industr p9
Q4FY25	operating profit / EBITDA	17,000 crore	money	derived EBITDA	487,370,000,000.00	DIVERGES	Date_20250426_Reliance Industr p9
Q4FY25	revenue growth	8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p9
Q4FY25	revenue growth	16 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p9
Q4FY25	revenue growth	8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250426_Reliance Industr p9
Q4FY25	operating profit / EBITDA	266 crore	money	derived EBITDA	487,370,000,000.00	DIVERGES	Date_20250426_Reliance Industr p16
Q4FY25	operating margin	84 %	ratio	EBITDA / core revenue	0.18	DIVERGES	Date_20250426_Reliance Industr p17
Q1FY26	revenue growth	6 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250720_Reliance Industr p5
Q1FY26	operating profit / EBITDA	14,511 crores	money	derived EBITDA	580,240,000,000.00	DIVERGES	Date_20250720_Reliance Industr p8
Q1FY26	revenue	30,882 crores	money	REVENUE_FROM_OPERATIONS	2,486,600,000,000.00	DIVERGES	Date_20250720_Reliance Industr p20
Q1FY26	operating profit / EBITDA	17,300 crores	money	derived EBITDA	580,240,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250720_Reliance Industr p20
Q1FY26	revenue	41,000 crores	money	REVENUE_FROM_OPERATIONS	2,486,600,000,000.00	DIVERGES	Date_20250720_Reliance Industr p20
Q1FY26	operating profit / EBITDA	18,135 crores	money	derived EBITDA	580,240,000,000.00	DIVERGES	Date_20250720_Reliance Industr p20
Q1FY26	profit after tax	7,110 crores	money	PROFIT_AFTER_TAX	307,830,000,000.00	DIVERGES	Date_20250720_Reliance Industr p20
Q1FY26	revenue growth	11 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250720_Reliance Industr p21
Q1FY26	revenue growth	11.3 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20250720_Reliance Industr p21
Q1FY26	revenue	4,400 crores	money	REVENUE_FROM_OPERATIONS	2,486,600,000,000.00	SEGMENT_OR_SUBSET_CLAIM	Date_20250720_Reliance Industr p25
Q1FY26	revenue	9,600 crores	money	REVENUE_FROM_OPERATIONS	2,486,600,000,000.00	DIVERGES	Date_20250720_Reliance Industr p28
Q2FY26	profit after tax	22,100 crores	money	PROFIT_AFTER_TAX	220,920,000,000.00	AGREES	Date_20251019_Reliance Industr p4
Q2FY26	revenue	31,857 crores	money	REVENUE_FROM_OPERATIONS	2,588,980,000,000.00	DIVERGES	Date_20251019_Reliance Industr p9
Q2FY26	operating profit / EBITDA	17,874 crores	money	derived EBITDA	503,670,000,000.00	DIVERGES	Date_20251019_Reliance Industr p9
Q2FY26	revenue	36,332 crores	money	REVENUE_FROM_OPERATIONS	2,588,980,000,000.00	DIVERGES	Date_20251019_Reliance Industr p9
Q2FY26	profit after tax	7,375 crores	money	PROFIT_AFTER_TAX	220,920,000,000.00	DIVERGES	Date_20251019_Reliance Industr p9
Q2FY26	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20251019_Reliance Industr p11
Q2FY26	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20251019_Reliance Industr p11
Q2FY26	revenue	6179 crores	money	REVENUE_FROM_OPERATIONS	2,588,980,000,000.00	DIVERGES	Date_20251019_Reliance Industr p15
Q2FY26	revenue growth	3.2 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20251019_Reliance Industr p17
Q3FY26	revenue growth	8 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260118_Reliance Industr p3
Q3FY26	revenue growth	10 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260118_Reliance Industr p3
Q3FY26	profit after tax	22,290 crores	money	PROFIT_AFTER_TAX	222,900,000,000.00	AGREES	Date_20260118_Reliance Industr p3
Q3FY26	revenue growth	18 %	ratio	not comparable without the prior year quarter in scope	nan	NO_ANCHOR	Date_20260118_Reliance Industr p4
Q3FY26	operating margin	52 %	ratio	EBITDA / core revenue	0.19	DIVERGES	Date_20260118_Reliance Industr p5
Q3FY26	revenue	37,262 crores	money	REVENUE_FROM_OPERATIONS	2,694,960,000,000.00	DIVERGES	Date_20260118_Reliance Industr p8
Q3FY26	operating profit / EBITDA	19,303 crores	money	derived EBITDA	509,320,000,000.00	DIVERGES	Date_20260118_Reliance Industr p8

RELIANCE

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.


Last close	1,219.20
52-week range	1219.2 – 1592.3
Return 1M	-7.43%
Return 3M	-7.5%
Return 1Y	-11.84%
Return 3Y	4.19%
Return 5Y	-1.78%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	311,850.00
Other income	6,550.00
Total income	318,400.00
Cost of materials consumed	129,857.00
Purchases of stock-in-trade	82,833.00
Changes in inventories	-1,326.00
Employee benefit expense	7,717.00
Finance costs	8,337.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.50	0.00
institutions foreign	0.17	-0.01
institutions domestic	0.21	0.01
mutual funds	0.10	0.00
public	0.50	-0.00

Documents on file

Class	Most recent	On file
ANALYST_MEET	2026-03-31	5
COVER_LETTER	2026-06-30	7
DUPLICATE	2024-12-31	1
TRANSCRIPT	2024-12-31	10

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2021-12-31	2022-12-31	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	191,271.00	220,592.00	216,376.00	210,831.00	234,956.00	227,970.00	240,715.00	236,217.00	235,481.00	243,865.00	264,573.00	248,660.00	258,898.00	269,496.00	298,621.00	311,850.00
Other income	4,047.00	3,147.00	2,918.00	3,813.00	3,841.00	3,869.00	4,534.00	3,983.00	4,876.00	4,214.00	4,905.00	15,119.00	4,482.00	4,914.00	4,447.00	6,550.00
Total income	195,318.00	223,739.00	219,294.00	214,644.00	238,797.00	231,839.00	245,249.00	240,200.00	240,357.00	248,079.00	269,478.00	263,779.00	263,380.00	274,410.00	303,068.00	318,400.00
Cost of materials consumed	91,315.00	98,730.00	104,031.00	95,809.00	101,619.00	98,949.00	103,968.00	109,206.00	107,060.00	98,514.00	107,347.00	99,282.00	106,488.00	108,346.00	128,985.00	129,857.00
Purchases of stock-in-trade	39,426.00	47,755.00	37,778.00	38,372.00	50,786.00	57,898.00	42,825.00	50,001.00	52,824.00	59,459.00	60,402.00	57,582.00	65,276.00	64,093.00	68,878.00	82,833.00
Changes in inventories	-4,572.00	-748.00	-4,706.00	-2,513.00	304.00	-9,345.00	6,671.00	-5,749.00	-6,982.00	-5,014.00	2,621.00	-4,214.00	-8,421.00	-811.00	3,179.00	-1,326.00
Employee benefit expense	4,660.00	6,267.00	6,471.00	6,601.00	5,947.00	6,313.00	6,818.00	7,071.00	6,649.00	7,155.00	7,684.00	7,232.00	7,491.00	7,912.00	7,683.00	7,717.00
Finance costs	3,812.00	5,201.00	5,819.00	5,837.00	5,731.00	5,789.00	5,761.00	5,918.00	6,017.00	6,179.00	6,155.00	7,036.00	6,827.00	6,613.00	6,585.00	8,337.00
Depreciation and amortisation	7,683.00	10,187.00	11,456.00	11,775.00	12,585.00	12,903.00	13,569.00	13,596.00	12,880.00	13,181.00	13,479.00	13,842.00	14,416.00	14,622.00	14,808.00	15,100.00
Other expenses	30,736.00	33,341.00	34,362.00	34,469.00	35,332.00	33,499.00	37,917.00	36,923.00	36,872.00	39,962.00	42,687.00	45,873.00	42,179.00	43,938.00	45,755.00	45,252.00
Total expenses	173,060.00	200,733.00	195,211.00	190,350.00	212,304.00	206,006.00	217,529.00	216,966.00	215,320.00	219,436.00	240,375.00	226,633.00	234,256.00	244,713.00	275,873.00	287,770.00
Profit before exceptional items and tax	22,258.00	23,006.00	24,083.00	24,294.00	26,493.00	25,833.00	27,720.00	23,234.00	25,037.00	28,643.00	29,103.00	37,146.00	29,124.00	29,697.00	27,195.00	30,630.00
Exceptional items	2,836.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit before tax	25,094.00	23,006.00	24,083.00	24,294.00	26,493.00	25,833.00	27,720.00	23,234.00	25,037.00	28,643.00	29,103.00	37,146.00	29,124.00	29,697.00	27,195.00	30,630.00
Current tax	2,763.00	2,702.00	-738.00	3,392.00	3,499.00	3,079.00	3,620.00	3,070.00	3,059.00	3,723.00	2,906.00	2,991.00	2,762.00	3,139.00	844.00	4,671.00
Deferred tax	1,925.00	2,564.00	3,525.00	2,720.00	3,174.00	3,266.00	2,957.00	2,716.00	2,877.00	3,116.00	3,763.00	3,474.00	4,216.00	4,391.00	5,735.00	2,958.00
Tax expense	4,688.00	5,266.00	2,787.00	6,112.00	6,673.00	6,345.00	6,577.00	5,786.00	5,936.00	6,839.00	6,669.00	6,465.00	6,978.00	7,530.00	6,579.00	7,629.00
Profit for the period	20,539.00	17,806.00	21,327.00	18,258.00	19,878.00	19,641.00	21,243.00	17,445.00	19,323.00	21,930.00	22,611.00	30,783.00	22,092.00	22,290.00	20,589.00	23,196.00
Profit attributable to owners	18,549.00	15,792.00	19,299.00	16,011.00	17,394.00	17,265.00	18,951.00	15,138.00	16,563.00	18,540.00	19,407.00	26,994.00	18,165.00	18,645.00	16,971.00	20,946.00
Profit attributable to non-controlling interests	1,990.00	2,014.00	2,028.00	2,247.00	2,484.00	2,376.00	2,292.00	2,307.00	2,760.00	3,390.00	3,204.00	3,789.00	3,927.00	3,645.00	3,618.00	2,250.00
Other comprehensive income	-5,454.00	4,481.00	-7,221.00	1,347.00	-1,131.00	450.00	3,003.00	297.00	-1,506.00	-1,920.00	693.00	351.00	-4,140.00	-567.00	-7,191.00	3,267.00
Total comprehensive income	15,085.00	22,287.00	14,106.00	19,605.00	18,747.00	20,091.00	24,246.00	17,742.00	17,817.00	20,010.00	23,304.00	31,134.00	17,952.00	21,723.00	13,398.00	26,463.00
Earnings per share, basic	28.08	23.34	28.52	23.66	25.71	25.52	28.01	22.37	24.48	13.70	14.34	19.95	13.42	13.78	12.54	15.48
Earnings per share, diluted	27.76	23.34	28.52	23.66	25.71	25.52	28.01	22.37	24.48	13.70	14.34	19.95	13.42	13.78	12.54	15.48

Annual results, as filed

Line	2019-03-31	2020-03-31	2021-03-31	2023-03-31	2024-03-31	2025-03-31	2026-03-31
Revenue from operations	581,020.00	611,645.00	486,326.00	892,944.00	914,472.00	980,136.00	1,075,675.00
Other income	8,635.00	13,956.00	16,327.00	11,826.00	16,057.00	17,978.00	28,962.00
Total income	589,655.00	625,601.00	502,653.00	904,770.00	930,529.00	998,114.00	1,104,637.00
Cost of materials consumed	275,237.00	260,621.00	199,915.00	450,241.00	400,345.00	422,127.00	443,101.00
Purchases of stock-in-trade	123,930.00	149,667.00	101,850.00	169,302.00	189,881.00	222,686.00	255,829.00
Changes in inventories	-4,680.00	-5,048.00	-9,064.00	-30,263.00	-4,883.00	-15,124.00	-10,267.00
Employee benefit expense	12,488.00	14,075.00	14,817.00	24,894.00	25,679.00	28,559.00	30,318.00
Finance costs	16,495.00	22,027.00	21,189.00	19,571.00	23,118.00	24,269.00	27,061.00
Depreciation and amortisation	20,934.00	22,203.00	26,572.00	40,319.00	50,832.00	53,136.00	57,688.00
Other expenses	90,127.00	104,113.00	98,071.00	135,862.00	141,217.00	156,444.00	177,745.00
Total expenses	534,531.00	567,658.00	453,350.00	809,926.00	826,189.00	892,097.00	981,475.00
Profit before exceptional items and tax	55,124.00	57,943.00	49,303.00	94,844.00	104,340.00	106,017.00	123,162.00
Exceptional items	0.00	-4,444.00	5,642.00	0.00	0.00	0.00	0.00
Profit before tax	55,124.00	53,499.00	54,945.00	94,844.00	104,340.00	106,017.00	123,162.00
Current tax	11,683.00	8,630.00	2,205.00	8,725.00	13,590.00	12,758.00	9,736.00
Deferred tax	3,707.00	5,096.00	-483.00	11,988.00	12,117.00	12,472.00	17,816.00
Tax expense	15,390.00	13,726.00	1,722.00	20,713.00	25,707.00	25,230.00	27,552.00
Profit for the period	39,837.00	39,880.00	53,739.00	74,088.00	79,020.00	81,309.00	95,754.00
Profit attributable to owners	39,588.00	39,354.00	49,128.00	66,702.00	69,621.00	69,648.00	80,775.00
Profit attributable to non-controlling interests	249.00	526.00	4,611.00	7,386.00	9,399.00	11,661.00	14,979.00
Other comprehensive income	58,765.00	15,293.00	33,798.00	-18,812.00	3,669.00	-2,436.00	-11,547.00
Total comprehensive income	98,602.00	55,173.00	87,537.00	55,276.00	82,689.00	78,873.00	84,207.00
Earnings per share, basic	66.82	63.49	76.37	98.59	102.90	51.47	59.69
Earnings per share, diluted	66.80	63.49	75.21	98.59	102.90	51.47	59.69

Balance sheet, as filed

Line	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Total assets	1,713,506.00	1,682,215.00	1,755,986.00	1,815,123.00	1,950,121.00	2,038,946.00	2,178,140.00
Non-current assets	1,271,528.00	1,242,471.00	1,285,886.00	1,336,711.00	1,450,851.00	1,526,982.00	1,583,891.00
Current assets	441,978.00	439,744.00	470,100.00	478,412.00	499,270.00	511,964.00	594,249.00
Property, plant and equipment	570,543.00	575,242.00	606,084.00	602,246.00	683,102.00	686,377.00	751,087.00
Capital work-in-progress	117,259.00	161,344.00	152,382.00	198,873.00	169,710.00	217,097.00	192,287.00
Goodwill	13,662.00	14,904.00	14,989.00	14,763.00	24,530.00	24,572.00	28,462.00
Other intangible assets	139,050.00	158,691.00	158,912.00	151,728.00	291,761.00	286,078.00	345,246.00
Inventories	140,008.00	146,258.00	152,770.00	160,950.00	146,062.00	161,508.00	166,941.00
Trade receivables	28,451.00	36,936.00	31,628.00	30,121.00	42,121.00	44,903.00	58,491.00
Cash and cash equivalents	74,708.00	68,827.00	97,225.00	90,353.00	106,502.00	111,500.00	145,977.00
Total equity and liabilities	1,713,506.00	1,682,215.00	1,755,986.00	1,815,123.00	1,950,121.00	2,038,946.00	2,178,140.00
Equity	934,162.00	877,275.00	925,788.00	954,324.00	1,009,626.00	1,050,727.00	1,085,866.00
Equity share capital	6,766.00	6,766.00	6,766.00	6,766.00	13,532.00	13,532.00	13,532.00
Other equity	814,387.00	744,456.00	786,715.00	812,687.00	829,668.00	863,748.00	890,498.00
Total liabilities	779,344.00	804,940.00	830,198.00	860,799.00	940,495.00	988,219.00	1,092,274.00
Non-current liabilities	382,810.00	427,427.00	432,831.00	418,039.00	486,758.00	522,925.00	551,020.00
Current liabilities	396,534.00	377,513.00	397,367.00	442,760.00	453,737.00	465,294.00	541,254.00
Borrowings, non-current	183,176.00	224,018.00	222,712.00	203,928.00	236,899.00	259,457.00	270,751.00
Borrowings, current	131,532.00	71,669.00	101,910.00	132,409.00	110,631.00	88,773.00	103,670.00
Trade payables	147,178.00	158,101.00	178,377.00	175,576.00	186,789.00	214,512.00	158,842.00

Cash flow, as filed

Line	2021-09-30	2023-03-31	2023-09-30	2024-03-31	2024-09-30	2025-03-31	2025-09-30	2026-03-31
Net cash from operating activities	56,535.00	115,032.00	70,845.00	158,788.00	91,810.00	178,703.00	99,110.00	192,113.00
Net cash from investing activities	-58,456.00	-91,235.00	-40,501.00	-114,301.00	-80,539.00	-137,535.00	-52,951.00	-101,089.00
Net cash from financing activities	3,226.00	10,455.00	-30,550.00	-16,646.00	-18,143.00	-31,891.00	-41,161.00	-51,549.00
Purchase of property, plant and equipment	44,311.00	140,988.00	65,811.00	152,883.00	69,137.00	139,967.00	58,074.00	122,916.00
Net increase in cash	1,305.00	34,252.00	-206.00	27,841.00	-6,872.00	9,277.00	4,998.00	39,475.00
con:CFO.BEFORE_TAX	57,871.00	121,329.00	75,007.00	170,749.00	96,437.00	190,628.00	102,839.00	201,721.00
con:INTEREST_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INTEREST_PAID.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:TAX_PAID.OPERATING	1,336.00	6,297.00	4,162.00	11,961.00	4,627.00	11,925.00	3,729.00	9,608.00
con:CF_OTHER.OPERATING	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:INVESTMENTS_PURCHASED	325,837.00	471,822.00	315,894.00	514,380.00	360,071.00	684,340.00	503,194.00	988,777.00
con:INVESTMENTS_SOLD	309,718.00	501,266.00	338,826.00	531,355.00	340,683.00	672,558.00	495,060.00	991,876.00
con:PPE_DISPOSALS	22.00	9,186.00	94.00	15,307.00	1,091.00	2,343.00	402.00	826.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_SOLD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
con:CF_INVESTING.JV_ACQUIRED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-10-29	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	50.39	50.27	50.30	50.31	50.33	50.24	50.24	50.13	50.11	50.07	0.50	0.50	0.50	0.50
Domestic institutions	16.23	16.07	16.68	17.09	17.41	17.68	18.31	19.10	19.46	19.80	0.20	0.20	0.21	0.21
Mutual funds	—	—	—	—	—	—	—	—	—	9.32	0.10	0.10	0.10	0.10
Insurance companies	8.70	8.41	8.56	8.47	8.37	8.44	8.56	8.74	8.99	9.18	0.09	0.09	0.09	0.09
Foreign institutions	22.55	22.60	22.14	22.06	21.75	21.29	20.17	19.15	19.06	19.21	0.19	0.19	0.19	0.17
Government	—	—	—	—	—	—	—	—	—	0.10	0.00	0.00	0.00	0.00
Public	49.61	49.73	49.70	49.69	49.67	49.76	49.76	49.87	49.89	49.93	0.50	0.50	0.50	0.50
Non-institutional	10.73	10.95	10.78	10.42	10.40	10.67	11.18	11.51	11.28	10.82	0.11	0.11	0.11	0.11
Shares outstanding	6594196175	6609948440	6605984257	6603874380	6601758670	6613271561	13227510322	13255203786	13262566470	13272506702	13288162906	13289313310	13291184806	13303071854

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter
2025-01-17	Q3FY25	Read the call
2024-10-15	Q2FY25	Read the call
2024-07-20	Q1FY25	Read the call
2024-04-23	Q4FY24	Read the call

Some earlier announcements under this heading are covering letters only — no transcript was attached.

What they said about it, quarter by quarter

Topic	Q1FY25	Q2FY25	Q3FY25	Q4FY24
Capex	Overall net debt at Rs 1,12,341 crores versus Rs 1,16,281 in March and CAPEX overall Rs 28,785 crores which is much less than the cash profits that we…	On the balance sheet side overall, September to March almost flat net debt and CAPEX at Rs.34,000 crores, continues to be covered by cash profits, and…	So continuing strength of the balance sheet and our capex for the quarter was around Rs.32,000 crores, well below the cash profits of Rs.38,000 that y…	Our balance sheet net debt has been falling and the capex spend also has been lowered.
Capital allocation	We're also leveraging our hyperlocal presence for customer acquisition and target them for grocery and cross-sell other categories through targeted in…	I spoke about how 5G is powering our home broadband service and it has really accelerated our acquisition rate when it comes to acquiring homes.	—	During the quarter, we completed the acquisition of IP rights and trade including trademarks and a recipe for Ravalgaon, as many of you may recollect …
Debt and cash	And finally, the balance sheet remains strong, as you saw net debt was lower than what it was in the previous quarter.	—	Flat in terms of net debt, you can see that, you know, probably the same as what it was in September, just the same as what it was given in March.	And on the balance sheet side, you can see that net debt is lowered down by ₹ 10,000 crore.
Demand	We also had strong performance in grocery stores some of the sales that we did show, high traction with almost 30% year-on-year growth. © Reliance Ind…	O2C has been impacted by unfavourable demand, supply fundamentals, and as you will see, subsequently, with the cracks being significantly lower; and o…	O2C year-on-year has been steady backed by feedstock optimisation and strong domestic demand and upstream has been a steady performance.	And of course, it has been helped by the fact that the domestic demand and environment has been pretty strong.
Guidance	And, as we keep deploying across the country, we expect to be able to connect many more homes in the quarters to come.	Post that we expect to revert to our industry leading growth momentum, as can be seen even in this quarter, because if you see the operational paramet…	As most of you are aware we have subscribers who are on longer term plans and who tend to recharge over a longer period of time and therefore we expec…	The outlook for the gas markets, we've seen two consecutive winters that have been mild.
Margin	Starting with the performance, EBITDA at Rs 42,748 crore up 2% year-on-year.	2,58,027 crores up about 0.8% and EBITDA Rs.	We had strong sequential performance in fact, if you were to look at EBITDA on an aggregate basis, sequentially up 9%, retail was up 17% sequentially,…	We crossed the ₹ 1,75,000 crore in EBITDA, more than ₹ 1,00,000 crore in PBT, more than ₹ 20,00,000 crore in terms of market cap.
People	Again, a combination of things here, some improvement because of increased utilisation, but given the promotional efforts at this point in time for pr…	We tried to maximize just not the overall thing, but also the primary and secondary units in terms of utilization.	So that has also meant for us higher asset utilization, as well as margins.	—
Pricing	In oil and gas led by high volumes which was offset little bit by lower price realization.	In terms of price realisations, year-on-year, the price is almost $1.10 lower.	Quarter-on-quarter, big jump coming from O2C, here it is on the back of higher refining margins, as well as improved PP and PBC deltas that we saw, ot…	Price realization was slightly lower during the course of the year, but that has been more than offset by the higher production.
Revenue growth	Also, it is on the back of growth of retail.	So here, revenue growth impacted by fashion and lifestyle, which is really in line with industry trends.	Revenue growth, EBITDA growth at close to 8%, and PAT (Profit After Tax) growth close to 12%.	To some extent that volume growth was offset by the fact that there has been a 5% decrease in price realization.