Reliance Industries Limited · NSE:RELIANCE
Reliance Industries — Q4 FY2025-26 Earnings Presentation
71 slides from Reliance Industries's earnings presentation, Apr 24, 2026
Slide 1: Financial Results Presentation FY 2025-26 / Q4 FY 2025-26
Financial Results Presentation FY 2025-26 / Q4 FY 2025-26 24 April 2026 1
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or
Slide 3: Table of Contents
Table of Contents # Particulars Page No. A Consolidated Financial Performance 04 B Jio Platforms 12 C Retail 20 D FMCG 30 E Media 37 F Oil to Chemicals 47 G Oil and Gas 64 H New Energy 69 3
Slide 4: Consolidated Financial Performance
A Consolidated Financial Performance 4
Slide 5: Operating Context: FY 2025-26
Operating Context: FY 2025-26 11 months FY2026: ➢ India remained the fastest growing large economy with robust domestic economic activity ➢ Data traffic continued its steep climb with new use cases led by growing 5G and broadband adoption ➢ GST rationalization, strong monsoon, easing interest rates
Slide 6: RIL Group Performance: FY 2025-26
RIL Group Performance: FY 2025-26 Growth vs ➢ YoY Revenue growth led by O2C, Digital Services FY26 FY25 Particulars and Retail segment ₹ crore $ Bn % ➢ Strong EBITDA growth driven by consumer businesses, contributing > 55% consol. EBITDA Revenue 11,75,919 124.0 9.8% ➢ 18% YoY PAT growth: EBITDA 2,07
Slide 7: RIL Group Performance by Business: FY 2025-26
RIL Group Performance by Business: FY 2025-26 FY25 FY26 ➢ Consolidated EBITDA up 13% Particulars ₹ crore ₹ crore ➢ Digital: Robust 18% YoY growth driven by subscriber additions, improved 5G and fixed 1. Oil to Chemicals 54,988 60,546 broadband mix, and higher customer engagement 2. Oil and Gas 21,18
Slide 8: Legacy Of Empowering Consumers and Creating Value
Legacy Of Empowering Consumers and Creating Value Robust EBITDA Growth over 5 years (₹ crore) 2,07,911 ➢ Consolidated EBITDA up >2x 76,560 ➢ Digital Services up >2x 97,580 27,034 ➢ Retail up >2.5x 34,035 60,546 9,842 ➢ O2C up ~1.6x 38,170 19,050 258 15,275 24,721 ➢ Oil and Gas up ~74x led by success
Slide 9: RIL Group Performance: Q4 FY 2025-26
RIL Group Performance: Q4 FY 2025-26 YoY Q4 FY25 Q4 FY26 ➢ Double digit revenue growth across O2C, Retail Change Particulars ₹ crore ₹ crore $ Bn % and Digital Services Revenue 288,138 325,290 34.3 12.9% ➢ EBITDA largely stable with strong contribution EBITDA 48,737 48,588 5.1 (0.3%) from domestic o
Slide 10: RIL Segment Performance: Q4 FY 2025-26
RIL Segment Performance: Q4 FY 2025-26 Q4 Q4 YoY ➢ O2C: Sharp increase in fuel cracks offset by multiple headwinds ₹ crore FY25 FY26 Change for margin capture and 4% lower volumes Oil to 15,080 14,520 (3.7%) Chemicals ✓ Rising crude premiums on physical barrels, elevated logistics Oil and Gas 5,123
Slide 11: Growth Anchored in Solid Balance Sheet and Cashflows
Growth Anchored in Solid Balance Sheet and Cashflows 0,000 1,60,000 0.80 1,71,258 1,80,0 1,25,766 1,24,717 1,46,917 0,000 1,16,281 1,17,083 1,40,000 0.70 1,41,969 1,60,0 1,20,000 1,25,951 1,40,0 0.64 0.60 0,000 1,09,099 1,20,0 1,00,000 0.50 0,000 1,00,0 80,000 0.40 0,000 1,41,809 1,31,769 1,44,271 8
Slide 12: Jio Platforms
ll B_Jio Platforms
Slide 13: Strong Double-digit Growth in Global Scale Business
Strong Double-digit Growth in Global Scale Business #1 in Connectivity #1 in Homes 524 Mn+ 268 Mn+ 27 Mn+ 12.9 Mn Subscribers 5G Users Fixed Broadband JioAirFiber Homes Connects (36.3 Mn net additions in FY26) (77 Mn net additions in FY26) (9.6 Mn net additions in FY26) (7.3 Mn net additions in FY26
Slide 14: Mobility: Unlocking Innovative Frontiers
Mobility: Unlocking Innovative Frontiers Product Innovation Distribution Strategy Customer Experience ➢ Differentiated 5G premium services ➢ OEM-led 5G device expansion ➢ India’s best network: Multiple through dedicated network slice driving higher Jio SIM attachment, awards including Download Speed
Slide 15: Home: Reaching Unrivaled Scale
Home: Reaching Unrivaled Scale National Scale Execution Quality Assurance Engine ➢ Jio Fixed broadband base crossed 27 Mn Rapid Technician Onboarding subscribers Training & deployment of freelancer Onboard technicians at scale ➢ Jio driving industry wide growth with ~10 Mn net additions during the p
Slide 16: Enterprise: Enhancing New Account Penetration
Enterprise: Enhancing New Account Penetration 1 3 Positioning Jio’s Proprietary Solutions Increasing Share in Large Deal Wins ➢ Managed connectivity with WiFi, Firewall & surveillance ➢ Dedicated terabit level connectivity backbone for hyper for secured retail operations and unified in-store scalers
Slide 17: RJIL (Connectivity Business): Key Operating Metrics
RJIL (Connectivity Business): Key Operating Metrics ➢ Strong momentum in 5G and Fixed Q4 Q3 Q4 Particulars Unit Broadband additions with over 77 Mn FY25 FY26 FY26 and ~10 Mn net additions respectively, Total Customer base Mn 488.2 515.3 524.4 during FY26 Net Customer addition Mn 6.1 8.9 9.1 ➢ 54% of
Slide 18: RJIL: Q4 FY 2025-26 Financials
RJIL: Q4 FY 2025-26 Financials Operating Revenue (₹ crore) EBITDA (₹ crore) 56.2% 33,381 32,751 18,408 18,771 31,857 53.9% 17,874 30,882 17,301 30,018 16,188 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 Mar-25 Jun-25 Sep-25 Dec-25 Mar-26 EBITDA Margin ➢ RJIL operating revenue growth of 11.2% YoY driven by con
Slide 19: Jio Platforms Limited: Q4 FY 2025-26 Financial Performance
Jio Platforms Limited: Q4 FY 2025-26 Financial Performance JPL Consolidated % YoY ₹ crore Q4 FY25 Q4 FY26 Change FY26 ➢ FY26 Revenue from operations at 1 Gross Revenue 39,853 44,928 12.7 172,317 ₹146,885 crore, 14.6% YoY growth Operating Revenue 33,986 38,259 12.6 146,885 EBITDA 17,016 20,060 17.9 7
Slide 20: Retail
C Retail 20
Slide 21: Key Highlights
Key Highlights ➢ Delivered steady operating & financial performance; FY26 gross revenue at ₹3,70,026 crore, up 12% YoY ✓ Q4 FY26 gross revenue at ₹98,232 crore, up 11% YoY ➢ FY26 EBITDA at ₹27,033 crore, up 8% YoY; EBITDA margin at 8.3% ✓ Q4 FY26 EBITDA at ₹6,921 crore, up 3% YoY; EBITDA margin at 7
Slide 22: Financial Performance
Financial Performance YoY YoY Q4 FY26 Q4 FY25 FY26 FY25 change Particulars change ₹ crore ₹ crore % ₹ crore ₹ crore % 98,232 88,620 11% Gross Revenue 3,70,026 3,30,870 12% 87,344 78,622 11% Net Revenue 3,27,143 2,90,979 12% 6,690 6,510 3% EBITDA from Operations 26,128 24,265 8% 7.7% 8.3% -60 bps EBI
Slide 23: Update on Consumption Baskets
Update on Consumption Baskets
Slide 24: Grocery: Foundation of Everyday Consumption
Grocery: Foundation of Everyday Consumption ➢ Steady performance led by festive demand; big box stores expansion continues, crossed 1,000 stores milestone ➢ Continued growth across categories led by Staples, HPC and Processed Food ➢ Health & Convenience categories gaining traction; Cup Bhel, Frozen
Slide 25: JioMart: India's Fastest Scaling Digital Commerce Platform
JioMart: India’s Fastest Scaling Digital Commerce Platform ➢ JioMart continues to expand reach across 5,100+ pin codes in 1,200+ cities, serviced by 3,100+ stores ➢ Hyper-local commerce Q4 average daily orders up 300%+ YoY and 29% QoQ ✓ Acquired 5.8 Mn new customers in Q4; registered customer base u
Slide 26: Fashion & Lifestyle: India's Largest Omni-channel Fashion Ecosystem
Fashion & Lifestyle: India’s Largest Omni-channel Fashion Ecosystem ➢ Business delivered steady performance with broad-based category growth; men's fashion outperformed ➢ Over 1,500 stores refreshed and digitally enabled to deliver an elevated customer experience ➢ AI-native operating model transfor
Slide 27: Fashion & Lifestyle: India's Leading Digital Fashion Destination
Fashion & Lifestyle: India’s Leading Digital Fashion Destination ➢ Ajio delivered steady growth led by higher platform engagement & ABV1 (+23% YoY) ➢ Own brands continues to gain traction; Buda Jeans, Nyrika & Indie Picks outperformed ➢ Strengthened portfolio with onboarding of domestic and internat
Slide 28: Fashion & Lifestyle: Capturing Aspirations Through Premiumization
Fashion & Lifestyle: Capturing Aspirations Through Premiumization Premium Brands ➢ Delivered steady growth led by improvement in productivity and new store additions ➢ Broad-based growth across categories led by Premium Menswear, Eyewear and Children Wear ➢ Entered into exclusive partnership with Ku
Slide 29: Consumer Electronics: Service, Brand & Solution-Led Business
Consumer Electronics: Service, Brand & Solution-Led Business ➢ Stores maintain revenue momentum; growth driven by festive campaigns and new product launches ➢ Broad-based growth across categories led by Laptops, Mobiles and TVs ➢ Digital India Sale registered strong traction with 30% YoY sales growt
Slide 30: FMCG
D FMCG 30
Slide 31: RCPL: Performance Overview
RCPL: Performance Overview ₹22,000 Cr (2x) ₹7,350 Cr (2.2x) FY26 Gross Revenue1 (YoY Growth) Q4 FY26 Gross Revenue (YoY Growth) Campa brand has achieved ₹4,700+ Cr gross sales in FY26 making it India’s 4th largest carbonated soft drinks brand with double digit market share in key markets Independenc
Slide 32: Growth Across the Key Categories
Growth Across the Key Categories Beverages ➢ Robust expansion in supply chain network and strategic activated execution in the market resulting in 3.2x YoY growth Daily ➢ Achieved 1.6x YoY growth driven by Independence Essentials brand and new acquisitions like Udhaiyam & Manna ➢ New brand launches
Slide 33: Expanding Manufacturing Network
Expanding Manufacturing Network Beverage Plants ➢ Scaling our capacity to become one of the largest beverages manufacturers in India ➢ Continued supply chain expansion with addition of high speed bottling lines spanning across multiple greenfield plants in 12 states Food Parks ➢ Strategically develo
Slide 34: Expanding Distribution Network
Expanding Distribution Network ➢ We are continuously expanding our distribution network with presence across Pan India 5,000+ Distributors ➢ In Packaged Foods, we have expanded our reach to newer markets like North-East, West Bengal, Bihar, etc. 3 Mn+ Outlets ➢ Expanding our presence across key inte
Slide 35: Honest Consumer Centric Marketing Approach
Honest Consumer Centric Marketing Approach Digital Amplification Across Activation at Key Consumer Mass Media Activations Platforms Touchpoints ➢Campaigns were anchored around ➢Cross-platform content architecture ➢ Built a high-impact visibility through high-impact cultural moments delivered unified
Slide 36: Diversified and Focused Acquisitions
Diversified and Focused Acquisitions Goodness Group Global (GGG) Manna RCPL acquired a majority stake in Goodness Group Global RCPL has acquired Manna (owned by Southern Health Foods (GGG), a popular Australian beverage business behind Nexba, Pvt. Ltd.), a leading health foods brand with over two Bi
Slide 37: Media
E Media __I
Slide 38: JioHotstar: 500 Mn MAUs; 72.5 Mn Global Concurrency Record
JioHotstar: 500 Mn MAUs; 72.5 Mn Global Concurrency Record ➢ ~550 Mn MAUs in March’26 - a new platform benchmark ➢ Growth is driven by a stacked sports lineup and record engagement across marquee entertainment franchises Platform MAUs (Mn) 466 450 493 400 Q1 Q2 Q3 Q4 ➢ Key platform initiatives launc
Slide 39: Sports: WC'26 Sets Records as the Biggest ICC T20 Event
Sports: WC’26 Sets Records as the Biggest ICC T20 Event IPL 2026 (till Match #33 – 23rd April) 15% growth in Digital Reach over IPL’25 ICC T20 World Cup 2026 27% growth in CTV WPL 2026 Reach over IPL’25 20% growth in Digital Reach 30% growth in over WPL’25 Overall Reach over WC’24 72.5 Mn Live WT gr
Slide 40: Entertainment: Strong Performance across Genres
Entertainment: Strong Performance across Genres BiggBoss Franchise Originals Unscripted Movies Chiraiya The 50 Rajasaab Bigg Boss Most viewed SRS in Q4; Delivered biggest season Most watched south 40% growth in Digital watch- Strong word of mouth premiere ever on JHS movie on JHS till date time over
Slide 41: Operational Performance: Q4 FY26
Operational Performance: Q4 FY26 ➢ Average Monthly Active Users (MAU) at ~500 Mn; grew by 10% QoQ ➢ Strong paid subscriber base driven by marquee sports Digital ➢ New Initiatives: Partnership with OpenAI for conversational discovery, partnership with Swiggy for in- app commerce and launched ‘Tadka’,
Slide 42: Key Financials: Q4 FY26 and FY26
Key Financials: Q4 FY26 and FY26 ⮚ Subscription revenue momentum was strong Q4 FY26 Q3 FY26 FY26 FY251 across Digital & TV through the year ₹ crore ₹ crore ₹ crore ₹ crore ⮚ Digital Ad revenue, across Sports and Particulars Entertainment, hit a record high, driven by CTV Operating & focused content
Slide 43: Dhurandhar
DHORANDH DHURANDHAR © STUDIOS
Slide 44: Blockbuster Has a New Meaning
Blockbuster Has a New Meaning Only Indian duology with ₹1,000 Cr+ per film, 40% of India Box office First franchise to cross ₹3,000 Cr worldwide at the Box Office ✓ Dhurandhar – #1 Indian Film of 2025 ✓ Dhurandhar : The Revenge – #1 Indian Film of 2026 ✓ Highest grossing Indian film of all time ✓ Bi
Slide 45: Biggest Music Albums
Biggest Music Albums ➢ Dhurandhar – #1 Music album of 2025 ➢ Dhurandhar : The Revenge – #1 Music album of 2026 #1 Music Album on Spotify for 12+ weeks #1 Music Album on Apple Music for 4+ weeks #3 Debut Spotify Global 40+ Bn Music Streams & Views 45
Slide 46: Record-smashing, Era-defining Year Jio Studios
Record-smashing, Era-defining Year Jio Studios – India’s No. 1 Content Studio ➢ Largest content studio by revenue, catalogue size and box office share ➢ Unique distinction of having the highest grossing Hindi film in India for 3 consecutive years: ✓ 2024 (Stree2) ✓ 2025 (Dhurandhar) ✓ 2026 (Dhurandh
Slide 47: Oil to Chemicals
F Oil to Chemicals 47
Slide 48: Operating Environment: FY 2025-26
Operating Environment: FY 2025-26 Fuel Margins FY26 YoY ➢ Crude market remained oversupplied through most of FY26 ($/bbl) Avg. Change Brent crude 70.3 (6.5%) ➢ US and EU sanctions tightened on Russian-crude though relaxed in Mar’26 Gasoil 23.6 +63% ➢ Structurally tight refining, better-than-expected
Slide 49: Impact of ME Conflict and RIL Action
Impact of ME Conflict and RIL Action Scale of Disruption RIL’s Response: Operational Agility Impact Metric Magnitude ➢ Persian Gulf loading contracts replaced to minimize run cut Global oil supply cut ~10.1 mb/d — largest ever ➢ RIL worked with ME suppliers on alternative SoH transit 20 mb/d (Feb) →
Slide 50: Financial Performance: FY 2025-26
Financial Performance: FY 2025-26 ➢ Strong performance despite trade and geopolitical pressures FY26 % change ➢ EBITDA up 10% with fuel cracks up 34-68% and operational Particulars excellence ₹ crore YoY ✓ Efficient feedstock sourcing and product placement ✓ High utilization and proactive yield mana
Slide 51: Financial Performance: Q4 FY 2025-26
Financial Performance: Q4 FY 2025-26 ➢ This quarter witnessed the largest energy market shock Q4 FY26 % change ✓ Challenged availability with record high crude price in physical market Particulars ✓ Surge in premium, freight & insurance costs; higher cost of fuel ₹ crore YoY ✓ Steep fall in margins
Slide 52: Operating Performance: Q4 FY 2025-26
Operating Performance: Q4 FY 2025-26 Volume (in MMT) Q4 FY25 Q4 FY26 ➢ Agile crude sourcing to minimise throughput cuts amidst SoH closure Throughput 20.3 19.5 ➢ Record gasifier output, calibrated liquid fuel mix and Production meant for sale optimized grid power sourcing to lower fuel cost Transpor
Slide 53: Fuels: Cracks Sharply Higher YoY – Q4 FY 2025-26
Fuels: Cracks Sharply Higher YoY – Q4 FY 2025-26 4Q FY26 Avg. Product YoY Change Key Factors (YoY) Price / Margin Brent crude ✓ Disruptions to crude flows through SoH (~20 7% $80.6/bbl price mb/d) ✓ Refinery run cuts in Asia, lowering the supply Gasoil cracks 148% $35.4/bbl ✓ Lower exports from Chin
Slide 54: Global Oil Demand: Q4 FY 2025-26
Global Oil Demand: Q4 FY 2025-26 Global Oil Demand (Mn Barrels Per Day) 105.2 102.7 103.4 ➢ Global oil demand up 0.5 mb/d YoY led by Non-OECD Asia ➢ Product demand growth was muted Q4 FY25 Q3 FY26 Q4 FY26 amidst high prices and disruptions in 28.9 30.2 28.9 the Middle East 26.9 27.7 27.1 ✓ Gasoline
Slide 55: Domestic Oil Environment: Demand Q4 FY 2025-26
Domestic Oil Environment: Demand Q4 FY 2025-26 Domestic Oil Demand (MMT) ➢ Oil demand at 62.2 MMT, up 2.7% YoY ➢ Gasoline demand up 7% 10.0 Gasoline 10.7 ✓ Preference for personal mobility with growth in 10.7 automotive sales 23.2 ➢ HSD demand up 5.2% Diesel 24.6 ✓ Positive momentum from manufacturi
Slide 56: Jio-bp: Driving Growth in Domestic Market
Jio-bp: Driving Growth in Domestic Market Market Share & Market Volume (4Q YoY Growth) Network Effectiveness (ME)1 2.1 Mn KL Share: 4.35% Share: 5.84% 182 TKL 2,199 6,2812 (+27.4%) ME: 1.99 ME: 2.67 MS & HSD ATF MS HSD Retail Outlets Charge points 11.1 GWh 13 TMT Share: 5.9% 162 175 (+4.8%) (+65%) A
Slide 57: Refining Business Dynamics and Priorities
Refining Business Dynamics and Priorities BUSINESS DYNAMICS STRUCTURAL STRENGTHS AND PRIORITIES ✓ Energy markets likely to remain volatile with ✓ High complexity refinery with ability to process wide- geopolitics-linked risk premium and trade tensions range of crudes ✓ Oil demand to degrow by 0.08 m
Slide 58: Impact of Middle East Conflict: Downstream Chemicals
Impact of Middle East Conflict: Downstream Chemicals ➢ ME accounts for 13% of global ethylene capacity, 25% of global commodity chemicals exports (2025) ✓ ~3.8 MMT/month of naphtha and 1 MMT/month of PE exports flow through SoH ➢ Several ME and Asia facilities under Force Majeure due to infrastructu
Slide 59: Downstream: Margin Environment – Q4 FY 2025-26
Downstream: Margin Environment – Q4 FY 2025-26 Q4 FY26 Avg. Product YoY Change Key Factors (YoY) Price / Margin Naphtha prices 13% $726/MT ✓ Tracking higher crude prices amidst ME crises US Ethane ✓ In line with lower US natural gas prices 14% 23.5 cpg prices ✓ Despite price increase, PE delta decre
Slide 60: Downstream Chemicals: Feedstock Environment
Downstream Chemicals: Feedstock Environment Avg. US Ethane Price (cpg) 27.3 ➢ US Ethane price averaged at 23.5 cpg, down 14% YoY 26.7 24.1 23.1 23.5 inline with US natural gas prices ✓ Ethane cracking economics continue to remain favourable over Naphtha ➢ Naphtha prices increased 13% YoY, tracking t
Slide 61: SEA Ethylene Margins ($ / MT)
Cracker Feedstock Margin Trend Cracker Feedstock Average Margins Integrated Ethane Cracker Integrated Naphtha Cracker SEA Ethylene Margins ($ / MT) 472 414 335 327 298 283 145 134 39 45 11 -164 2021 2022 2023 2024 2025 Q1 CY26 Source : RIL internal estimates, Margins based on total cost basis Naphth
Slide 62: Polymers and Polyester Domestic Demand YoY – Q4 FY 2025-26
Polymers and Polyester Domestic Demand YoY – Q4 FY 2025-26 Polymer Demand Growth ➢ Stable domestic demand for PP and PE led by raffia, PE 3% furniture, appliances, automotive, and packaging PP 3% -10% ➢ PVC demand impacted due to lower pipe demand with PVC Polymer lower imports availability 0% ➢ PFY
Slide 63: Downstream Chemicals' Business Dynamics and Priorities
Downstream Chemicals’ Business Dynamics and Priorities BUSINESS DYNAMICS STRUCTURAL STRENGTHS AND PRIORITIES ✓ Feedstock availability and logistics disruptions ✓ Deep integration with refinery streams – naphtha trigger supply shock in Asia and refinery off-gases ✓ Non-integrated plants across Asia a
Slide 64: Oil and Gas
G Oil and Gas 64
Slide 65: Financial Performance: FY 2025-26
Financial Performance: FY 2025-26 FY26 % change ➢ Steady performance with focus on optimal well management Particulars ₹ crore YoY ✓ Maintained impeccable record on safety and reliability Revenue 23,861 (5.4)% ➢ KGD6 average production at 25.9 MMSCMD gas and 18,171 EBITDA 19,050 (10.1)% bbl/day Oil/
Slide 66: Financial Performance: Q4 FY 2025-26
Financial Performance: Q4 FY 2025-26 Q4 FY26 % change ➢ Steady increase in CBM volumes with more wells put to Particulars ₹ crore YoY production Revenue 5,867 (8.9)% ➢ Average production for the quarter EBITDA 4,195 (18.1)% EBITDA Margin 71.5% (800) Bps ✓ KGD6 gas at 25.2 MMSCMD RIL Share % change ✓
Slide 67: Global Gas / LNG Markets
Global Gas / LNG Markets ➢ Middle East conflict reduced global LNG supply by ~20%, Historical Prices ($ / MMBtu) triggering supply shock 29 ➢ Spot LNG prices surged from ~$10/MMBtu in Jan-Feb’26 to 26 23 ~$20/MMBtu in Mar’26 20 ➢ Asian buyers most affected, given high ME dependence 17 14 ➢ Asia-Euro
Slide 68: India Gas Market
India Gas Market ➢ India market remains vulnerable as 50% of consumption Ceiling Price Vs WIM LNG ($/MMBtu) is through imported LNG 13.68 12.91 ➢ Over half of India’s LNG supply is linked to the Strait of 12.12 12.2 Hormuz, keeping price risks elevated 10.53 ➢ Govt. of India notified the NG (Supply
Slide 69: New Energy
H New Energy 69
Slide 70: New Energy: Full Integrated, Indigenous and World Scale
New Energy: Full Integrated, Indigenous and World Scale ➢ Giga Scale Manufacturing for Solar ✓ Successfully commissioned and operationalized various lines of solar PV module and cell manufacturing – first in India to achieve ALMM for HJT solar and module ✓ As stated earlier, we continue to make good
Slide 71: Thank You
THANK YOU 71
Reliance Industries — Q4 FY2025-26 Earnings Presentation on 6ix