Reliance Industries Ltd reported a net profit of ₹95,610 crore in FY26, becoming the first company in India to cross the $10 billion (approximately $10.15 billion) mark in annual earnings. Under Mukesh Ambani’s leadership, the company’s profit rose 18% from ₹80,787 crore recorded last year.
Quarterly decline, but strong annual performance
In the March 2026 quarter (Q4FY26), the company’s profit declined by 12.6% to ₹16,971 crore from ₹19,407 crore in the same quarter last year. The decline was attributed to weakness in the ‘oil-to-chemicals’ business and rising costs. However, the company’s consumer businesses—such as Jio Platforms and Reliance Retail—continued to grow rapidly. Reliance Retail notably crossed the milestone of 20,000 stores.
Records in Revenue and EBITDA
The company’s gross revenue grew by 12.9% to ₹3,25,290 crore in Q4. For the full year (FY26), revenue grew 9.8% to a record high of ₹11,75,919 crore. Meanwhile, EBITDA also increased by 13.4% to a record high of ₹2,07,911 crore.
Market value and stock performance
Despite a nearly 15% decline in its share price so far in 2026, the company’s market capitalization remains above ₹18 lakh crore, maintaining its position as India’s most valuable company.
Other companies still lagging behind
HDFC Bank, the second-largest company by market value, reported a profit of ₹76,026 crore (about $8.07 billion) in FY26. Meanwhile, State Bank of India (SBI) is projected to post a profit of around ₹83,746 crore ($8.89 billion) in FY26. IT company Tata Consultancy Services (TCS) reported profit of ₹49,454 crore ($5.25 billion) for FY26. Overall, Reliance Industries has gone ahead of other Indian companies by creating a new record in terms of profits.