Chairman & Managing Director, Reliance Industries
Reliance Becomes 1st Indian Company To Cross $120 Bn Rev | Mukesh Ambani's Big Milestone | N18V
In a year marked by geopolitical uncertainty, Reliance Industries has become the first Indian company to cross $120 billion in ...
About Mukesh Ambani
At Reliance Industries' 49th Annual General Meeting in May and June 2026, Mukesh Ambani announced that the board of Jio Platforms had approved a draft red herring prospectus and that it would be filed with SEBI. He described the proposed listing of Jio as a demonstration that India can build technology companies of global scale and value. Ambani stated that his children Isha, Akash, and Anant are heading the Jio IPO process and, under his guidance, are expanding existing businesses while laying the foundation for new ventures. He said he envisions each of these ventures growing as big as today's Reliance. Ambani said Reliance is transforming its operating model to become a deep tech company with advanced manufacturing capabilities and is making every business AI native. He stated that India should not be a mere consumer of AI but must become a creator and global leader, and that Reliance Intelligence, announced the previous year, aims to build a profitable AI infrastructure and services business. He also said the most important lesson for India from volatile times is to intensify efforts toward self-sufficiency in energy and AI. Ambani reported that Reliance posted record high revenue, EBITDA, and net profit for FY26, becoming the first Indian company to cross $120 billion in annual revenue and the first to report annual profits exceeding $10 billion.
Transcript (19 segments)
✨ AI-enhanced transcript with speaker attribution
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Mukesh Ambani0:17
Friends, the global economy today is navigating through an era of great uncertainty. Geopolitical tensions are rising. Volatility is persistent and predictability is scarce. The world is realizing that conflict produces no winners, whereas cooperation ensures shared prosperity. When nations cooperate, trade flows freely, investments flourish, and everyone wins.
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Narrator1:01
In a year marked by geopolitical tensions and uncertainty, Reliance Industries managed to achieve a few key milestones. It became the first Indian company to cross $120 billion in annual revenue. It also became the first company to report annual profits exceeding $10 billion. Growth in the digital and consumer-facing businesses managed to offset the volatility seen across energy markets worldwide.
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Mukesh Ambani1:27
As Reliance approaches the close of its golden decade, we rededicate ourselves to the rapid realization of this Indian dream. We are resolutely transforming our operating model to become a deep tech company with advanced manufacturing capabilities. We are making every one of our businesses AI native, positioning them for hyper growth.
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Narrator1:59
The digital services business is solidifying its position as the primary growth engine. Revenue climbed over 14% to nearly 1.47 lakh crore rupees. Margins stand at an impressive 52%. Reliance Jio is now home to 268 million 5G users, the largest customer base for any company outside of China. The total user base has also risen to 524 million. Data traffic has seen a healthy jump of 31% and the average revenue per user stands at 214 rupees a month.
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Unknown2:41
Jio is where I began my professional journey. Faced challenges, learned lessons, and found my purpose. I've grown with Jio and today to see it come into its own as an independent company is both humbling and exhilarating. Jio is part of me.
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Narrator3:02
Reliance also expanded its partnership with Google and Meta to bolster its AI ambitions.
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Unknown3:08
We've long been investing in India's digital future. And our partnership with Reliance and Jio has been an important part of how we do that.
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Mark Zuckerberg3:26
Meta and Reliance are going to deliver our open-source AI models to Indian businesses to help them fuel their work. With Llama, we've seen how AI can amplify human potential, boosting productivity, inspiring creativity, and accelerating innovation.
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Unknown3:40
I'm a believer, have been a believer that we have to embrace technology. We cannot run away from it.
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Narrator3:54
The retail business continues to clock double-digit growth. Gross revenue climbed 12% to cross 3.7 lakh crore rupees. The physical footprint continues to expand with more than 20,000 stores nationwide. This retail network caters to a registered customer base of 387 million, driving 1.93 billion transactions. Reliance is also making a splash in the hyperlocal quick commerce market with JioMart where daily orders surged 300% in Q4.
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Mukesh Ambani4:23
Our unmatched digital strength is another accelerator of our retail business. Our online channels currently contribute a high single-digit share of retail revenues, but will grow to over 20% within 3 years. We also lead in hyperlocal quick commerce using our incomparable store network, strategically located dark stores, and deep consumer data to offer faster, more reliable deliveries than any competitor.
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Narrator4:55
The group's traditional oils-to-chemicals business anchored the top-line performance while weathering macroeconomic and geopolitical challenges. Annual revenue grew nearly 6% to more than 6.6 lakh crore rupees. Healthy transportation, fuel cracks, high asset utilization, and optimized feedstock sourcing aided the performance.
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Mukesh Ambani5:28
The past year brought extraordinary complexity in global energy markets. Supply chain disruptions, trade shifts, and petrochemical overcapacity posed major challenges. In this dynamic environment, Reliance delivered industry leading performance.
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Narrator5:54
Reliance also signed a landmark 8.5 billion dollar merger with Disney to create India's largest media powerhouse, which commands 800 million weekly viewers and nearly 300 million paid subscribers. By bringing together Reliance's digital reach, execution, and understanding of the Indian consumer, combined with Disney's rich library of world-class storytelling and beloved IP, and of course India's strong passion for cricket, Jio Star has quickly established itself as a global force in media and entertainment with nearly 300 million paid subscribers. It's not all about high growth and partnerships with global heavyweights. Mukesh Ambani is most excited about India's startup industry, and he believes 100 Reliance Industries can emerge from India.
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Mukesh Ambani7:00
When I interact with startups and we see young 28, 30 year olds starting up companies, and I can clearly see, right, 100 new Reliances.
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Narrator7:20
Reliance Foundation has completed 15 years touching the lives of nearly 10 crore people across 98,000 villages. From education to sports to healthcare, the foundation is aiming to expand and reach the remotest corners of India.
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Mukesh Ambani7:45
During the next decade, we aim to reach 400 million Indians, provide quality education to 300 million school-going children, transform the lives of 100 million women, and empower 15 million rural household. This is not just about growth. This is about transformation in every city, every village, and the remotest corners of India.
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Narrator8:28
FY 26 was another watershed year for Reliance Industries with expectations rising. The conglomerate will be firing on all cylinders to deliver, once again, in this financial year.
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Mukesh Ambani8:40
As India accelerates into her next horizon, so must Reliance. Expectations are rising from all quarters, our people, partners, our country, as well as the international community. We are not just preparing for that future, we are shaping it.