India’s largest and most valuable company, Reliance Industries Limited (RIL), held its 48th Annual General Meeting (AGM) today, attracting more than 44 lakh shareholders to hear the Chairman’s vision for transformative growth, Mukesh Ambani.
The hybrid show, which combined in-person and virtual attendance, highlighted the excellent financials, digital triumphs, and indications of blockbuster IPOs for Jio Platforms and Reliance Retail. As global markets observe, the roadmap RIL’s Ambani is on makes it the leader in India’s economic booster, which is why this is the best story in the minds of investors and analysts.
Financial Triumphs Fuel Optimism
Reliance Industries reported a profit after tax (PAT) of Rs 80,787 crore in FY25, a testament to the strength of its giant empire. Jio-led digital services division had revenue of Rs 1,54,119 crore, and it is booming due to 5G adoption and tariff increases.
Jio recorded an EBITDA of ₹ 65,001 crore, indicating its unmatched scale as the world’s largest 5G operator with 191 million True5G users. Supported by a recent merger, the JioHotstar platform reached 280 million paying subscribers at the time of IPL Season 18, and reached 503 million Monthly Active Users in March 2025.
Reliance Retail shone with gross revenue of Rs 330,943 crore, up 7.9% year-over-year, and an EBITDA of Rs 25,094 crore, up 8.6%. The takeover of new markets and categories makes it aggressive, which strengthens its retail position. The Oil-to-Chemicals segment increased revenue by 11 per cent to Rs 6,26,921 crore; however, margin pressure reduced EBITDA by 11.9 per cent to Rs 54,988 crore.
Concurrently, the Oil and Gas unit experienced record highs, with revenue increasing by 3.2% to Rs 25,211 crore and EBITDA increasing by 4.9% to Rs 21,188 crore, driven by the projected opening of new wells that are expected to unlock 240 billion cubic feet of reserves.
Q1 FY26 performance also left investors further electrified as consolidated profit increased by 77 per cent to Rs 30,783 crore, including a one-time gain from the Asian Paints stake sale. The recurring profit increased by 25 per cent, revenue rose by 6 per cent to reach 2.73 lakh crore, and EBITDA increased by 36 per cent to reach 58,024 crore, which is a positive sign.
Strategic Vision: Doubling Down on Growth
Ambani presented a bold plan to expand RIL by twofold by 2030, with Jio and Retail expected to double in three to four years. The company plans to reach 100 million households through Fibre and AirFiber, with clean energy investments and digital innovations at its core.
No concrete IPO plans were reaffirmed over any of the companies, Jio or Reliance Retail, but Ambani hinted at value-unlocking actions, speculating. Analyst Jefferies and others have a Buy rating and a target price of Rs 1,670 due to the diversified growth engines at RIL.
Share Performance and Market Buzz
RIL shares on the NSE rose steadily, opening at Rs 1,381.10 and closing around midday at Rs 1,387.80, or 0.15 per cent higher than the close in the previous day, at Rs 1,385.90.
The stock is characterised by a 14% year-to-date gain and a 19.93 P/E ratio, which suggests a certain level of apprehension in the optimism. Historically, there has been an increase in RIL shares after the AGM, and this trend may continue in 2025 if there are announcements regarding IPO clarity. The heavyweight position of the company is emphasised by its market cap of 18 lakh crore.
Why This Matters
The AGM of Reliance is a key indicator of its centrality in shaping the digital, retail, and energy environments of India. As the global economic winds shift against prevailing trends, and the US-Russia oil trade and tensions come into the limelight, the strategies of RIL have a far-reaching impact in India.
The investors are trusting that Ambani and the vision will generate gains in shares, which will put RIL at the top of the list on Google. Due to the AGM consumption, the combination of innovation and scale makes RIL a one to watch in 2025.
