Reliance Industries Ltd
Reliance Industries Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Retail business is expected to deliver double-digit revenue growth on an aggregate basis despite short-term quarterly volatility (Q2 and Q3 festival timing effects, GST impact, RCPL demerger). The company expects continued double-digit revenue growth on an aggregate basis, particularly driven by retail (pages 33-34).
From Reliance Industries Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Retail business is expected to deliver double-digit revenue growth on an aggregate basis despite short-term quarterly volatility (Q2 and Q3 festival timing effects, GST impact, RCPL demerger).
- Q2+Q3 showed decent 13-14% revenue growth in retail; underlying retail business growth remains strong and double-digit when adjusted for one-offs.
- Jio digital services continue strong growth with customer base expanding (9 million new customers added in a quarter) and 5G data consumption rapidly increasing. Enterprise services are growing faster than other revenue lines.
- Quick commerce is scaling rapidly (1.6 million+ orders) and contributing positive margins, leveraging a wide store network.
- Energy business shows strong growth (15%) led by transportation fuels and Jio-BP volumes (24%).
2 more points from Reliance Industries Ltd's call on revenue
Pro opens every point from 15K+ earnings calls
Profitability & Margins
See what Reliance Industries Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Rs. 75,000 Crores planned for new energy manufacturing-related capex, primarily for generation, with initial generation capacity expected in 12-15 months. (p.37)
- Capex breakdown for the year: Rs. 9,000 Crores for O2C expansion, ~Rs. 8,000 Crores for new energy, ~Rs. 7,500 Crores for Jio, ~Rs. 4,000 Crores for retail, plus real estate and Rs. 1,200 Crores for others. (p.26)
- Battery gigafactories under construction with phased delivery planned within the year, supporting energy storage. (p.24)
- Infrastructure for solar and polysilicon/upstream value chain set up for 20-gigawatt capacity, modularly expandable. (p.24)
- Flexibility in funding generation assets via balance sheet or other means, ensuring credit rating maintenance. (p.37)
2 more points from Reliance Industries Ltd's call on capex
Pro opens every point from 15K+ earnings calls
Top-ranked in Petroleum Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Reliance Industries Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
2 more points from Reliance Industries Ltd's call on order book
Pro opens every point from 15K+ earnings calls
Reliance Industries Ltd — Quarterly revenue & net profit
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.
Full financials →Continue your research
What Reliance Industries's management said in earlier quarters
Others in Petroleum Products this season
- Savita Oil Technologies Ltd (Q3 FY26)
Q3 FY26 revenue from operations reported at ₹1,073.6 Cr, up 15% YoY from ₹945.4 Cr in Q3 FY25 (Page 6). Key investor presentation takeaways from Savita Oil Tech
- Arabian Petrol. (Q3 FY26)
Company plans to grow at about 20-25% CAGR in top-line revenue. Key concall takeaways from Arabian Petrol.'s Q3 FY26 earnings call — and how it ranks against…
- Gulf Oil Lubricants India Ltd (Q3 FY26)
CapEx of INR 55 crores announced for expansion of Silvassa and Chennai plant capacities. Key concall takeaways from Gulf Oil Lubricants India's Q3 FY26…
- Castrol India Ltd (Q3 FY26)
Capex investment (~INR 100-150 crores annually) supports capacity expansion and distribution growth to enable sustained revenue and volume increases. Key…
Arthneeti Pro · Annual
Reliance Industries Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Reliance Industries Ltd Q3 FY26 results?
Retail business is expected to deliver double-digit revenue growth on an aggregate basis despite short-term quarterly volatility (Q2 and Q3 festival timing effects, GST impact, RCPL demerger). The company expects continued double-digit revenue growth on an aggregate basis, particularly driven by retail (pages 33-34).
What is Reliance Industries Ltd share price analysis?
Reliance Industries Ltd currently shows a neutral. The stock trades at a P/E of 23.7 with a market cap of ₹1,772,762 Cr. Investors should review the full earnings analysis for detailed insights.
Is Reliance Industries Ltd planning capital expenditure?
Rs.
Keep Reliance Industries Ltd on your radar — track it to get its next earnings analysis in your feed.
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.