RIL AGM 2026: Reliance invests ₹1.44 lakh crore in FY26 as five-year capex crosses ₹6.48 lakh crore

Reliance Industries Ltd. (RIL) invested ₹1,44,271 crore ($15.2 billion) in capital expenditure during FY26, taking its cumulative investment over the past five years to ₹6,48,428 crore ($68.4 billion), as the conglomerate continued to expand across digital services, retail, energy and emerging technology businesses.

Addressing shareholders at Reliance's 49th annual general meeting on Friday, chairman and managing director Mukesh Ambani said the group had delivered its strongest-ever financial performance despite an uncertain global environment. "Reliance posted a record high revenue, a record high EBITDA and a record high net profit in FY26 despite global challenges," he said.

Capex push powers record earnings

The investments helped drive consolidated revenue to ₹11,75,919 crore, up 9.8% year-on-year. EBITDA rose to ₹2,07,911 crore from ₹97,580 crore in FY21, while net profit increased 17.8% to ₹95,754 crore.

Putting the investment programme into perspective, Ambani said Reliance had spent more on capital expenditure than any other Indian company over the last five years.

"Reliance contributed almost one-third of the total capital invested by India's Top-50 corporates during the last five years," he said, adding that the group's investments have helped create new growth engines while strengthening India's industrial and digital infrastructure.

"Reliance's contribution to India's inclusive economic growth and nation-building remains unsurpassed," Ambani told shareholders.

The billionaire industrialist said the group's financial achievements were underpinned by disciplined capital allocation, prudent risk management and a strong balance sheet.

"These achievements are supported by our prudent capital allocation framework, proactive risk management, a strong balance sheet and growing cash flows," he said.

The improving financial profile has also translated into stronger global recognition. Ambani noted that Reliance's credit ratings were upgraded by S&P to A- and by Moody's to Baa1, both standing two notches above India's sovereign rating.

Reliance's exports stood at ₹2,78,808 crore during FY26, accounting for 6.7% of India's merchandise exports, while its contribution to the national exchequer reached ₹2,16,472 crore. The company also spent ₹2,248 crore on corporate social responsibility initiatives during the year.

New growth platforms take shape

Ambani said Reliance is building the next phase of growth through a series of new consumer-focused platforms. These include businesses spanning beverages, fresh produce and a future-ready garment manufacturing ecosystem.

Supplier partnerships have already been established across 21 manufacturing clusters for apparel production, with the model expected to be extended to affordable electronics in the future.

Reliance Retail continued to scale up during FY26. Executive director Isha Ambani said the business reported gross revenue of ₹3,70,026 crore, up 11.8%, while profit after tax rose 12% to ₹13,828 crore. Its customer base expanded to 387 million and the retailer processed 1.93 billion transactions during the year.

Jio IPO filing and satellite ambitions

In a key announcement for investors, Ambani said the board of Jio Platforms has approved its draft red herring prospectus (DRHP), which is being filed with market regulator Sebi, marking a major milestone towards the telecom and digital services company's long-awaited public listing.

He added that Akash Ambani, Isha Ambani and Anant Ambani are leading the IPO process and will spearhead the next generation of value creation opportunities across the Reliance ecosystem.

The AGM also saw Jio outline plans to build a sovereign low-earth orbit satellite constellation and develop a domestic satellite broadband ecosystem, signalling Reliance's ambitions to expand connectivity beyond conventional terrestrial telecom networks.