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Reliance Industries

Q2 FY26Petroleum Products

Reliance Industries Q2 FY26: Capex ₹40,000 Cr

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹1,316
Market cap₹17.8L Cr
P/E23.8
Updated23 Aug 2026
Read4 min read

The short version

Reliance Retail delivered 18% YOY revenue growth in Q2 FY26 with continued strong growth across consumption baskets, including fashion, lifestyle, grocery, electronics, and FMCG. Overall strong performance across businesses with improving quality of numbers quarter after quarter (Page 4).

From Reliance Industries's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Reliance Retail delivered 18% YOY revenue growth in Q2 FY26 with continued strong growth across consumption baskets, including fashion, lifestyle, grocery, electronics, and FMCG.
  • Quick commerce offering (JioMart) has been rapidly scaling, now available in 5000+ pin codes across 1000+ cities, adding 6 million new transacting customers (120% QoQ growth).
  • Expansion in store footprint with 400+ new stores during the quarter and strong online channel growth.
  • FMCG business showed 2x growth YOY for H1; new food parks and brand acquisitions (like Velvette) to drive future volume and revenue growth.
  • Refining & Marketing's EBITDA improved sharply due to higher fuel cracks and polymer deltas, with diesel and petrol sales up by over 30%, supported by yield optimization and increased ethane feedstock procurement.

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Profitability & Margins

See what Reliance Industries said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Ongoing capex of close to ₹40,000 Crores, broadly in line with cash profits.
  • Investment in expanding production in Oil & Gas, including deploying a deep-water rig in KG-D6 block for exploration and sidetrack wells to augment reserves.
  • Expansion efforts in the East Coast of India for gas availability and demand.
  • Significant capex focused on Jio Platforms, including 5G and fixed wireless technology infrastructure and AI capabilities via a 100% RIL subsidiary.
  • Reliance Retail added 400+ stores in the quarter and is investing aggressively in scaling quick commerce and brand building.
  • New energy investments on track with panel and cell production lines and development to generate renewable energy-related products starting next year.

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Top-ranked in Petroleum Products

Ranked on what management guided this quarter

Guidance-ranked
1Continental Petroleums Ltd
Rev 2Mar 1
2Arabian Petrol.
Rev 2Mar 2
3
Rev 3Mar 2
4
Rev 3Mar 3
5
Rev 3Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

The provided document (pages 1-37 of Reliance Industries Limited Q2 FY26 analyst call transcript) does not explicitly mention the current or expected orderbook or pending orders figures. The transcript focuses on financial results, operational highlights, business segments (Jio, Retail, Media, Oil & Gas, Refining & Marketing, Petrochemicals, New Energy), growth initiatives, and strategic plans. Key related points include: - Expansion and scaling efforts across various businesses (Jio platforms, Retail stores, Quick Commerce, Energy fields). - Exploration and production activities in Oil & Gas, including new wells and rigs aimed at augmenting production. - No explicit orderbook or pending orders data shared during the earnings call or in the transcript. For precise orderbook or pending orders info, please refer to detailed segment-wise disclosures or company filings not covered in this transcript.

Reliance Industries — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.9L Cr, net profit ₹20.6K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Reliance Industries's management said in earlier quarters

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Frequently Asked Questions

What were Reliance Industries Q2 FY26 results?

Reliance Retail delivered 18% YOY revenue growth in Q2 FY26 with continued strong growth across consumption baskets, including fashion, lifestyle, grocery, electronics, and FMCG. Overall strong performance across businesses with improving quality of numbers quarter after quarter (Page 4).

What is Reliance Industries share price analysis?

Reliance Industries currently shows a neutral. The stock trades at a P/E of 23.8 with a market cap of ₹1,780,882 Cr. Investors should review the full earnings analysis for detailed insights.

Is Reliance Industries planning capital expenditure?

Ongoing capex of close to ₹40,000 Crores, broadly in line with cash profits.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.