Reliance Industries, India’s oil-to-retail-to-telecom company led by Mukesh Ambani, ended the financial year 2024–25 (FY25) on a strong note. Even though the world is unpredictable and the economy is unstable, the company showed strong and steady development, which shows how strong its diverse business plan is.
The oil-to-chemical (O2C) part of the business suffered a drop in profits, but the company’s retail and digital services divisions were major growth drivers. This shows that Reliance’s push into consumer-focused areas has been successful.
Here are five important things to remember from Reliance Industries’ annual report for FY25:
1. Good financial results In the middle of change
In FY25, consolidated revenue went grown 7.1% from ₹10,00,122 crore in FY24 to ₹10,71,174 crore.
Profit after tax (PAT) went up 2.9% from the previous year to ₹81,309 crore.
EBITDA also was up by 2.9%, from ₹1,78,290 crore to ₹1,83,422 crore.
Notably, consumer businesses made up more than 50% of the combined EBITDA, which shows how the company is shifting its focus to retail and digital growth.
As of March 31, 2025, gross debt was ₹3,47,530 crore and net debt was ₹1,17,083 crore.
The total amount spent on capital was ₹1,31,107 crore, with most of it going towards:
New O2C projects
Expansion of retail stores
Digital infrastructure
Making things in the New Energy industry
Reliance stressed that solid cash flows from within the company made it possible to make investments while keeping a conservative balance sheet and credit ratings that were good enough to get loans.
2. Growth in the retail business: making more money and expanding
Reliance Retail kept going up in FY25, making it the largest and most extensive retail network in India.
Revenue from operations went up 6.6% from the previous year to ₹2,91,043 crore.
EBITDA jumped 8.6% to ₹25,094 crore.
The EBITDA margin went up by 10 basis points to 8.6%.
The company opened 2,659 additional stores, bringing the total to 19,340 stores across India. This is the biggest retail footprint in the country.
It has more than 349 million registered customers, which shows that people trust and participate with it.
Reliance’s ability to grow the retail segment steadily shows that it can scale up quickly while also improving the consumer experience through both physical locations and digital channels.
3. Online Services Keep the Growth Engine Running
This section is still waiting for more detailed details, however it is said that Reliance’s digital services, especially through Jio Platforms, have made a big difference in EBITDA and consolidated revenue. This is because:
More and more data being used
Expansion of network infrastructure
More money made per user on average (ARPU)
We should soon hear more about how Jio did in FY25.
4. The O2C segment is under pressure
The Oil-to-Chemicals (O2C) business saw a drop in EBITDA in FY25. This was because of:
Lower profit margins on products because crude oil prices go up and down
Weak trends in global demand
Regulatory pressures and problems with operations
Even so, Reliance kept putting money into improving its O2C facilities and adding new environmentally friendly technology, which was in line with its plan to reach net-zero carbon emissions.
5. Making smart investments in areas that will help the company grow in the future
Reliance’s investment strategy for FY25 showed that it was focused on the long term:
New Energy projects including solar energy, renewable hydrogen, and battery storage
Retail growth: to meet the needs of Tier 2 and Tier 3 markets that are growing
Digital infrastructure: for 5G and beyond
Making things to help the Make-in-India movement
These investments should help Reliance stay on top in a number of industries and create more value over the long run.
In conclusion
The performance of Reliance Industries in FY25 shows how strong and flexible its diverse portfolio is. The company is still in a good position to lead India’s economic transition because retail and digital services are still doing well and key investments are setting the stage for future growth.
As more specific financial information on the digital segment and new energy projects comes out, stay tuned for future updates.
Notice
This page is only for information. The opinions given are those of analysts and should not be taken as investment advice. Because markets can change, you should talk to a professional financial advisor before making any investing decisions.