Reliance Retail Q4 results: RIL vertical’s revenue soars 11% YoY, customer base grows to 387 million

The Isha Ambani-led firm’s revenue from operations jumped 11.1% YoY to ₹87,344 crore during the quarter under review, compared to ₹78,622 crore in the fourth quarter of the 2024-25 fiscal year (Q4 FY25).

At an operational level, its EBITDA (earnings before interest, tax, depreciation and amortisation), also known as operating profit, advanced 3.1% YoY to ₹6,921 crore in Q4 FY26, as against ₹6,711 crore in the same period last year.

However, its EBITDA margin contracted by 60 basis points (bps) YoY to 7.9% for the reporting quarter, from 8.5% in the March FY25 quarter.

According to a regulatory filing, its registered customer base soared 10.9% YoY to 387 million during the January-March quarter of FY26, compared with 349 million in the same period of FY25.

Total transactions recorded were at 585 million during the reporting quarter, up 62% YoY. In FY26, its total transactions stood at 1.93 billion, led by a rapid acceleration in hyper-local commerce.

Its business opened 333 new stores, with a total store count of 20,160 stores and an area under operation of 78.3 million sq. ft.

Segment-wise updates

Additionally, its hyper-local commerce Q4 average daily orders were up by 29% QoQ and 300% YoY.

Ajio saw steady growth, driven by higher platform engagement, which resulted in a 23% YoY increase in average bill value. Ajio Luxe continued its expansion trajectory, recording a 24% YoY growth in its brand portfolio and an 11% YoY jump in option count.

Furthermore, Shein continued to maintain revenue growth momentum, supported by strong user traction exceeding 11 million app installs and scaling of new option additions to about 1,000 per day.

The Jewels business delivered another quarter of strong performance, with its average bill value climbing 53% YoY, driven by rising gold prices.

What the management said

Commenting on the earnings, Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited (RRVL), said: “FY26 marks a year of profitable growth at scale for Reliance Retail. Revenue crossed ₹ 3.70 lakh crore, EBITDA crossed ₹27,000 crore, and we served 387 million registered customers across 1.93 billion transactions - underlining the enduring strength of India's largest retail franchise.”

She added that the most significant shift for the company this year was structural, with hyper-local commerce orders growing more than fourfold year-on-year.

The company operates India's widest hyper-local delivery network across grocery, electronics, and fashion, powered by over 3,100 stores across more than 1,200 cities and 5,100 pin codes, Ambani noted.

“As we enter FY27, our focus is on converting this unmatched reach into deeper customer value - through AI-embedded merchandising, sharper pricing architecture, and disciplined execution. The balance sheet is strong and our leadership across categories is widening. We are building Reliance Retail for a decade of sustainable, profitable growth,” she stated.

Mukesh Ambani, the Chairman of Reliance Industries, while commenting on RRVL, said that the company delivered steady growth through the year.

“I am confident that Reliance Retail’s deep omnichannel presence and its strong understanding of the Indian consumer will continue to underpin sustained growth,” he stated.

Ambani added that the consumer products vertical, now operating within an independent and focused organisational structure, is gaining meaningful traction with an expanding portfolio of FMCG brands.

“India's consumption story has many years of growth ahead of it, and our businesses are built to be at the centre of this opportunity,” he added.

Reliance Industries has a total market capitalisation of ₹18.01 lakh crore as of April 24, 2026, according to data on the NSE.