Explore how RIL’s diverse Businesses, including Jio, are reshaping India’s corporate landscape
In April 2025, Reliance Industries Limited (RIL) created history by becoming the first Indian company to cross ₹10 lakh crore in total equity. This major milestone highlights the growing strength of Indian conglomerates and sets a new benchmark in the country’s corporate sector. With businesses spread across energy, telecom, retail, and digital services, RIL’s success reflects its strong strategy and the benefits of diversification.
Financial Performance in FY2025
Reliance Industries ended the financial year 2024–25 on a strong note. The company reported a consolidated net profit of ₹81,309 crore, which is a 2.9% increase compared to the previous year. Total revenue from operations stood at ₹10,71,174 crore, showing a 7.1% growth year-on-year. This growth was driven by solid performance in its retail, digital, and energy businesses.
For the fourth quarter ending in March 2025, RIL recorded a net profit of ₹22,611 crore, which was 6.4% higher than the same quarter in the previous year. The company’s total revenue in the quarter was ₹2,64,573 crore, reflecting a strong 10% growth year-on-year.
Business Segment Performance
1. Digital Services – Jio Platforms
The digital services arm of Reliance, Jio Platforms, continued to perform impressively. In the last quarter of FY2025, Jio reported a revenue of ₹39,853 crore, growing by 17.8% compared to the same quarter last year. Net profit from the segment reached ₹7,022 crore, a rise of 25.7%. The subscriber base grew to 488 million, including 191 million users on the advanced True 5G network. These numbers show how Jio continues to lead the digital revolution in India.
2. Retail Business
Reliance Retail also contributed strongly to the company’s growth. For the full financial year, the segment posted gross revenue of ₹3,30,870 crore, an increase of 8% from the previous year. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 9% to ₹25,053 crore. In just the fourth quarter, the retail arm added 1,085 new stores, increasing its total store count to 19,340 across the country. This rapid expansion helped RIL tap into new markets and strengthen its presence in the retail sector.
3. Oil to Chemicals (O2C)
The Oil to Chemicals business remained a significant contributor to revenue, bringing in ₹6,26,921 crore for the year—an 11% increase from FY2024. However, the segment’s profitability declined. In Q4 FY2025, the segment’s EBITDA fell by 10% year-on-year to ₹15,080 crore. This was due to lower refining margins, especially in transportation fuels, and weaker performance in the polyester sector. Despite these short-term challenges, the segment continues to be a pillar of RIL’s industrial operations.
Capital Expenditure and Future Investments
Reliance Industries invested heavily in building and upgrading its business operations during FY2025. The company’s total capital expenditure for the year reached ₹1,31,107 crore. These funds were mainly used for infrastructure expansion, technology upgrades, and new business development.
Additionally, RIL announced its plan to raise up to ₹25,000 crore through the issue of non-convertible debentures. This move is aimed at funding upcoming growth projects in digital, retail, and renewable energy sectors. These investments show the company’s strong commitment to long-term growth and leadership in key sectors.
Stock Market Reaction and Market Capitalization
The financial markets responded positively to RIL’s strong quarterly results. After the Q4 earnings announcement, RIL’s share price jumped over 5% on April 28 and added another 3% the following day. The stock was trading at around ₹1,410 per share by the end of April. This sharp rise led to an increase of nearly ₹1.41 lakh crore in the company’s market capitalization, pushing it close to ₹19 lakh crore.
This remarkable market response highlights investor confidence in the company’s long-term growth story and the strength of its leadership across multiple sectors.
Strategic Outlook: What This Milestone Means
Crossing the ₹10 lakh crore mark in equity is not just a financial achievement—it signals a transformation in the scale and ambition of Indian companies. For Reliance Industries, this milestone reflects years of calculated investments, innovation, and business diversification.
RIL’s ability to operate successfully in industries as different as oil refining and telecommunications proves that modern Indian conglomerates are no longer limited to one core business. The company is already investing in future-ready areas such as green energy, artificial intelligence, and digital financial services. These steps ensure that Reliance remains at the forefront of business growth in India and globally.
This achievement also sends a strong message to the global investment community about the maturity and potential of Indian businesses. Reliance’s growth shows that Indian companies are capable of competing on the world stage, not just in size but also in innovation, strategy, and execution.
The crossing of ₹10 lakh crore in equity by Reliance Industries marks a defining moment in Indian corporate history. It reflects the company’s strong financial health, diverse business operations, and ability to adapt to changing economic conditions. With continuous investments in technology, retail, digital platforms, and green energy, RIL is well positioned to lead India’s next phase of economic growth.
This achievement is not just about one company. It opens the door for other Indian conglomerates to dream bigger, expand faster, and compete globally. It signals the rise of a new era—one where Indian businesses can become global powerhouses in multiple sectors while continuing to drive domestic progress.
