Transcript of the discussion on the Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter ended June 30, 2025, at the analyst meet held on July 18, 2025, is attached and also available on the website of the Company.
RELIANCE · price
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Reliance Industries filed the transcript of its Q1 FY26 (quarter ended June 30, 2025) analyst meet. Consolidated revenue grew 6% with EBITDA of ~₹58,000 crore (+36%), aided by an ₹8,924 crore one-time gain from the sale of Asian Paints shares; excluding this, recurring EBITDA and PAT grew 15% and 25% respectively. Jio Platforms delivered 19% revenue and 24% EBITDA growth with 498 million subscribers, 210 million 5G users, and 7.4 million air fiber homes (82% global FWA market share). Reliance Retail posted 11% revenue and 13% EBITDA growth, while the O2C/refining segment reported EBITDA of ₹14,511 crore (+10.8%) on improved fuel cracks, with management flagging limited global refinery capacity additions as a forward tailwind. Management reaffirmed the Chairman's goal to double value by the end of the 'golden decade' and highlighted New Energy giga factory progress with 125 GW potential at Kutch. Net debt/EBITDA stood comfortable at 0.59x with ₹30,000 crore in capex deployed.
Strong segment-wise performance and constructive forward guidance across digital, retail, and energy reinforce Reliance's diversified growth narrative. Reiteration of long-term value-doubling targets, a healthy balance sheet, and visible refining margin tailwinds should support positive investor sentiment, though the headline EBITDA was inflated by the one-off Asian Paints gain.