Reliance Industries to Report Q4 2026 Earnings: Key Segments to Watch

Reliance Industries to Announce Q4 Results on Friday

Reliance Industries Ltd, the oil-to-telecom conglomerate led by Mukesh Ambani, will announce its Q4 results on Friday, April 24, 2026. The meeting of the Board of Directors of the company is scheduled to consider and approve the standalone and consolidated audited financial results for the quarter and year ended March 31, 2026. The board will also recommend dividend on equity shares for FY26.

Reliance Industries share price has been witnessing a sharp correction and has fallen more than 16% from its 52-week high. The company is expected to report a muted earnings during the fourth quarter of FY26, led by weakness in the oil-to-chemicals (O2C) business and tepid retail segment growth.

Consolidated Q4 Results Preview

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At the consolidated level, Reliance Industries' Q4FY26 revenue is expected to grow 9% to ₹2,88,746 crore from ₹2,64,905 crore in the previous quarter. Net profit is estimated to rise 4% to ₹19,390 crore from ₹18,645 crore, quarter-on-quarter (QoQ). RIL's consolidated EBITDA is expected to remain flat in the range of ₹45,000 crore - ₹46,000 crore, while EBITDA margins are expected to contract sharply, reflecting pressure in the O2C segment.

Oil-to-Chemicals (O2C) Q4 Results

RIL's O2C's EBITDA is expected to decline around 10% QoQ to ₹14,900 crore as market dislocation from the US-Iran war disrupted physical business operations despite a sharp uptick in benchmark O2C deltas. Freight and insurance rates experienced a sharp jump, with the shipping halt in the Strait of Hormuz driving opex higher. Physical market crude traded at sharp premiums.

According to Emkay Global Financial Services, RIL's marketing business was also hit by under-recoveries while diversion of propane from PP to LPG and cuts in HP-HT gas supplies further weighed on performance. There was a sharp surge in naphtha prices.

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Reliance Jio Q4 Results

Reliance Jio is expected to post a net profit of ₹7,371 crore in the quarter ended March 2026, registering a growth of 2.8% from ₹7,173 crore in the December quarter. The telco's revenue in Q4FY26 is estimated to rise 2.4% to ₹33,528 crore from ₹32,751 crore, QoQ, according to Centrum Broking.

Average Revenue Per User (ARPU) in the March quarter is expected to grow by 1% QoQ led by steady 5G FWA addition, partly offset by lower number of days in the quarter. Reliance Jio is expected to report net subscriber additions of around 6 million during the March quarter.

At the operating level, EBITDA during the quarter is expected to rise 2.8% to ₹18,239 crore from ₹17,744 crore, while EBITDA margin may improve by 21 basis points (bps) to 54.4% from 54.2%, QoQ.

Reliance Retail Q4 Results

Reliance Retail is likely to report modest 7% YoY revenue growth, reflecting the full impact of the Reliance Consumer Products Ltd (RCPL) demerger, while its profitability could remain under pressure, given the rising salience of currently lower-margin quick commerce, analysts said.

Motilal Oswal Financial Services expects Reliance Retail's Q4 revenue growth at 6.9% to ₹84,000 crore from ₹78,600 crore, YoY, while its net profit to rise 3.8% YoY to ₹3,150 crore. The segment's EBITDA is estimated to decline marginally to ₹6,400 crore, while EBITDA margin may contract to 7.6%.

At 3:15 PM, Reliance share price was trading 1.53% lower at ₹1,342.00 apiece on the BSE.