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Reliance SMART is a grocery retail chain in India. Credit: PradeepGaurs/Shutterstock.com.
Indian conglomerate Reliance Industries Limited’s (RIL) retail business has reported a 11.3% year-on-year increase in its net revenue, reaching Rs737.2bn ($8.55bn) in the first quarter (Q1) of the fiscal year 2026 (FY26), compared to Rs662.6bn in Q1 FY25.
The growth is credited to a strategic expansion, omni-channel presence, customer reach, diversified consumption basket and integrated supply chain.
Reliance Retail Ventures Limited (RRVL) executive director Isha Ambani stated: “Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility.”
The retailer recorded a robust 12.7% year-on-year (YoY) rise in earnings before interest, taxes, depreciation and amortisation (EBITDA).
RRVL reported an increase in its EBITDA margin of 20 basis points YoY, reaching 8.7%.
The company attributes this rise to strategic measures, enhanced operating efficiency and stringent cost management leading to robust margins.
RRVL reported that “all segments performed well, with market leading performance in grocery and fashion”.
JioMart, the company’s digital grocery platform, has seen a significant uptick in its hyperlocal delivery services, with daily orders climbing 68% quarter-on-quarter and 175% YoY.
The fashion and lifestyle business experienced an increase in both revenue and EBITDA, fuelled by the launch of new store formats and solid performance of its private labels.
It also noted that the early onset of monsoons impacted consumer electronics and devices segment but stated that recovery is underway.
RIL chairman and managing director Mukesh Ambani stated: “Retail’s business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of own FMCG [fast-moving consumer goods] brands, which resonate with the tastes of Indian consumers. Our retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach.”
The momentum of store expansion picked up during the quarter with the opening of 388 new stores, reaching 19,592.
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