Reliance Industries Stock Prices Decline Following Q4 Financial Report Release

Reliance Industries Sees 12.6% Decline in Q4FY26 Net Profit

Shares of Reliance Industries (RIL) dropped more than 1% on Monday, April 27, following the company's announcement of a 12.6% year-on-year (YoY) decline in its consolidated net profit (attributable to company owners) to ₹16,971 crore for the January-March quarter of the fiscal year 2026 (Q4FY26). In the same quarter of the prior financial year (Q4FY25), the company's profit stood at ₹19,407 crore.

Despite the decline in net profit, RIL's gross revenue experienced a 13% YoY rise to ₹3,25,290 crore, whereas profit after tax (PAT) fell by 8.1% YoY, reaching ₹20,616 crore. The company's consolidated revenue from operations also saw a 12.9% YoY increase, amounting to ₹2,98,621 crore for the March quarter, compared to ₹2,64,573 crore in the same period of FY25.

Revenue Comparison

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Reliance Industries reported a marginal decline in consolidated EBITDA for the quarter, down 0.3% year-on-year to ₹48,588 crore, with margins contracting by 200 basis points to 14.9%. The company attributed the decline in EBITDA to lower oil and gas production due to KG-D6 production issues.

The company said strong momentum in its oil-to-chemicals (O2C), digital services, and retail segments drove double-digit revenue growth. For FY26, net profit rose 16% to ₹80,775 crore, while revenue from operations increased 9.75% to ₹10.75 lakh crore.

Chairman Mukesh Ambani said that the company remained resilient despite geopolitical disruptions, volatile energy prices, and shifting global trade patterns, supported by its diversified portfolio and domestic focus. Reliance also announced a dividend of ₹6 per share for FY26.

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Financial Performance Comparison

Brokerage firms Nuvama Institutional Equities and Motilal Oswal Financial Services have revised their estimates for Reliance Industries following the Q4FY26 results. Nuvama maintained a 'Buy' rating with a target price of ₹1,765, valuing the stock at 20x FY28E EPS, while Motilal Oswal Financial Services reiterated a 'Buy' rating on the stock, with a revised target price of ₹1,655.

Reliance Industries share price today opened at ₹1,326.80 apiece on the BSE, touching an intraday high of 1,330.95 apiece and an intraday low of ₹1,312 per share. The stock is currently in a consolidation phase, with resistance seen around ₹1,380 and immediate support at ₹1,283.