COMPANY INTELLIGENCE PROFILE
Reliance Industries Limited
Reliance Industries Limited (CIN L17110MH1973PLC019786) is India's largest listed company by market value — a diversified conglomerate spanning oil-to-chemicals, retail (Reliance Retail) and digital/telecom (Jio) — incorporated 08 May 1973, chaired by Mukesh Ambani, rated AAA by all four domestic agencies.
Reliance Industries Limited (CIN L17110MH1973PLC019786), incorporated on May 8, 1973, is India's largest listed conglomerate by market value. Chaired by Mukesh Ambani, it operates in sectors including oil-to-chemicals, oil and gas exploration, retail, digital services, media, and new energy. Reliance Industries reported an EBITDA of ₹1,83,422 crore for FY2024-25. It is rated AAA by domestic agencies and holds an international rating of A- by S&P Global.
AI-generated, may contain errors.
Business Overview
- Diversified conglomerate and India's largest listed company by market capitalisation. Core segments: (1) Oil-to-Chemicals (O2C) — refining and petrochemicals, historically the parent/standalone profit engine
- (2) Oil & Gas E&P (KG-D6 basin)
- (3) Reliance Retail — 19,979 stores as on 31-Dec-2025 (ICRA)
- (4) Digital Services / Jio — 515.3 million subscribers as on 31-Dec-2025, ~25 million fixed-broadband subs (ICRA)
- (5) Media and New Energy. Digital + retail contributed ~53% of consolidated segmental EBITDA in 9M FY2026 (ICRA). 200+ subsidiaries. Latest FY end 31-Mar-2025
- Last AGM 29-Aug-2025.
Sector & Classification
CIN industry code 17110 (historic MCA textiles code). Actual business is a diversified conglomerate: oil-to-chemicals (O2C) and refining, oil & gas exploration & production, retail (Reliance Retail), digital services / telecom (Jio), media, and new energy.
Directors & Key Management
Directors — source notes
CURRENT BOARD — 14 members, all DINs verified against RIL's primary FY24-25 Corporate Governance report / annual-report signature block (no invented DINs): | # | Name | DIN | Designation | |---|------|-----|-------------| | 1 | Mukesh Dhirubhai Ambani | 00001695 | Chairman & Managing Director | | 2 | Nikhil Rasiklal Meswani | 00001620 | Whole-time (Executive) Director | | 3 | Hital Rasiklal Meswani | 00001623 | Whole-time (Executive) Director | | 4 | Madhusudana Sivaprasad Panda (a.k.a. P.M.S. Prasad) | 00012144 | Whole-time (Executive) Director | | 5 | Anant Mukesh Ambani | 07945702 | Whole-time (Executive) Director — effective 01-May-2025 | | 6 | Isha Mukesh Ambani | 06984175 | Non-Executive, Non-Independent Director | | 7 | Akash Mukesh Ambani | 06984194 | Non-Executive, Non-Independent Director | | 8 | Shumeet Banerji | 02787784 | Independent Director | | 9 | Arundhati Bhattacharya | 02011213 | Independent Director | | 10 | Veerayya Chowdary Kosaraju (a.k.a. K.V. Chowdary) | 08485334 | Independent Director | | 11 | Yasir Othman H. Al Rumayyan | 09245977 | Independent Director (per RIL's own board page) | | 12 | Kundapur Vaman (K.V.) Kamath | 00043501 | Non-Executive / Independent Director | | 13 | Dinesh Hasmukhrai Kanabar | 00003252 | Independent Director — appointed 12-Jun-2025 | | 14 | Haigreve Khaitan | 00005290 | Independent Director | FORMER director: Raminder Singh Gujral — DIN 07175393 (Independent Director; DIN appears in the 25-Apr-2025 primary AR signature block). Completed his term and EXITED 11-Jun-2025; Kanabar filled that vacancy 12-Jun-2025. Aggregator snippets still listing Gujral are stale. KEY MANAGERIAL PERSONNEL (not directors): - Srikanth Venkatachari — Chief Financial Officer (KMP; signs AR as CFO; no DIN — CFOs need not hold one). TheCompanyCheck's "DIN 00003542" is single-source and unverified. - Savithri Parekh — Company Secretary & Compliance Officer (KMP). TheCompanyCheck's "00274934" is NOT a DIN (she is not a director; Company Secretaries carry an ICSI membership number).
GST Registrations
Legal name = Trade name = "Reliance Industries Limited" on all GSTINs; taxpayer type Regular / Public Limited Company; GST-rollout registrations dated late June–early July 2017. All under PAN AAACR5055K. Verified anchor GSTINs (Maharashtra, cross-checked across aggregators): - 27AAACR5055K1Z7 — Maharashtra, Active (Regular), registered 01/07/2017 (gst.jamku.app) - 27AAACR5055K2Z6 — Maharashtra, Active (Regular), registered 28/06/2017; Belapur/Raigad jurisdiction (Masters India) - 27AAACR5055K3Z5 — Maharashtra, Active, registered 02/07/2017 (WebSearch) PAN-wide roster (gst.jamku.app aggregated view — SINGLE-SOURCE, treat as directional): ~60 registrations across nearly all states/UTs — ~50 Active, 3 Provisional (HP, Gujarat, Puducherry), 4 Inactive (Punjab, Odisha, MP, Karnataka), 2 Cancelled-by-taxpayer (Gujarat, D&NH), 1 Cancelled suo-moto (25AAACR5055K1ZB, Daman & Diu). WebSearch elsewhere cited "54 GST numbers" — minor count conflict between aggregators; the exact full state-by-state roster is NOT independently confirmed and should not be published as a definitive count.
Financials
Reliance Industries Limited reported a consolidated revenue of ₹9,80,136 crore in FY2024-25, with net profit attributable to owners at ₹69,648 crore. EBITDA stood at ₹1,83,422 crore. Total assets were ₹19,50,121 crore and net debt was ₹1,17,083 crore. Despite revenue growth, owners' earnings remained flat.
AI-generated, may contain errors.
- All FY2024-25 figures below are CONSOLIDATED and verified against RIL's primary 48th Annual Report, audited by Deloitte Haskins & Sells LLP and Chaturvedi & Shah LLP, dated 25-Apr-2025.
- FY2024-25 CONSOLIDATED, year ended 31-Mar-2025:
- Value of Sales & Services, gross, incl. ₹91,038 cr GST recovered: ₹10,71,174 crore (+7.1% YoY) — do NOT equate with "total income"
- Revenue from Operations (net of GST): ₹9,80,136 crore
- Total Income: ₹9,98,114 crore
- EBITDA: ₹1,83,422 crore (+2.9%) — reconciled: PBT ₹1,06,017 + Finance Cost ₹24,269 + D&A ₹53,136
- PBT: ₹1,06,017 crore
- Profit for the year, TOTAL, incl. non-controlling interest: ₹81,309 crore (+2.9%)
- Net Profit ATTRIBUTABLE TO OWNERS: ₹69,648 crore — essentially FLAT YoY, +0.04% vs ₹69,621 cr
- NCI = ₹11,661 crore. EPS ₹51.47 is computed on the owners' figure. [The widely-quoted "PAT ₹81,309 cr, +2.9%" is the total-including-minority number
- Owners' earnings did not grow.]
- Total assets: ₹19,50,121 crore, exact match to primary balance sheet
- Total equity: ₹10,09,626 crore = Equity Share Capital ₹13,532 + Other Equity ₹8,29,668 + Non-Controlling Interest ₹1,66,426. NET WORTH ATTRIBUTABLE TO OWNERS ≈ ₹8,43,200 crore, do NOT report ₹10.1 lakh cr as shareholders' net worth
- Gross debt: ₹3,47,530 crore, non-current borrowings ₹2,36,899 + current ₹1,10,631, — exact match to primary
- Total debt incl. lease liabilities: ₹3,69,575 crore, = gross debt + leases ₹22,045 cr; reconciled, not a discrepancy
- Cash & equivalents: ₹1,06,502 crore
- Net debt ₹1,17,083 cr / Cash profit ₹1,46,917 cr / Capex ₹1,31,107 cr — single-source, Upstox summary of AR
- Management-defined metrics, not independently re-derived. RIL is effectively net-cash after offsetting large cash/liquid investments.
- Prior-year CONSOLIDATED comparatives, stockanalysis.com, SECONDARY/single-source:
- FY2023-24: Total assets ₹17,55,986 cr; equity ₹9,25,788 cr; total debt ₹3,46,142 cr
- FY2022-23: Total assets ₹16,07,431 cr; equity ₹8,28,881 cr; total debt ₹3,34,392 cr
- STANDALONE vs CONSOLIDATED, material divergence: Tofler's standalone (parent O2C) FY25 YoY moves were NEGATIVE — Revenue −2.0%, EBITDA −21.81%, PAT −16.13%, Net Worth +5.43%, Total Assets +6.54%, Borrowings −6.13%, exact rupee values paywalled.
- This is expected: growth engines Jio and Reliance Retail are subsidiaries, so consolidated grew while standalone parent profit fell.
- FY2025-26, year ended 31-Mar-2026: TheCompanyCheck's "FY2026" figures, Revenue ₹10.76 lakh cr, Net profit ₹95,754 cr, EBITDA ₹2,07,911 cr, Total assets ₹21.78 lakh cr, Net worth ₹10.86 lakh cr, are aggregator-sourced and NOT verified against a primary filing — NOT OBTAINED as confirmed.
- Full-year audited FY26 results were not in the verified source set, CRISIL Oct-2025 and ICRA Jan-2026 cited only partial-year FY26 data.
- REJECTED sources: Equitymaster's FY25 extraction, revenue ~₹4.93 lakh cr / PAT ~₹35,262 cr, does not reconcile to audited consolidated results — mis-parsed table, discarded.
Funding History
- GROUP-SUBSIDIARY strategic raises, 2020, press-reported — NOT RIL-parent equity issuance:
- Jio Platforms Limited (2020): ~US$20 billion from 13 investors, ~33% equity diluted over ~3 months. Named: Meta/Facebook ₹43,574 cr for 9.99%
- Google ₹33,737 cr for 7.73%
- Plus Silver Lake, Vista Equity, General Atlantic (₹6,598.38 cr), KKR, Mubadala, ADIA (₹5,683.50 cr), TPG, L Catterton, and Saudi PIF (2.32%).
- Reliance Retail Ventures Limited (2020): ~US$7 billion; ₹47,265 cr for 10.09% equity dilution.
- RIL itself raised the largest-ever Samurai (Japanese-yen) loan by an Indian corporate in FY2025-26 following its S&P upgrade (PTI). These are press-reported figures, not primary-filing verified.
Loans & Charges
| Charge holder | Amount | Details |
|---|---|---|
| Syndicate Bank | ₹26 | |
| State Bank of India | ₹12 | |
| HDFC Bank | ₹2 | |
| NSE filings via search | ₹20,000 cr | secured NCDs allotted 2023 |
| NCDs of | ₹1,00,000 | face value |
| liquid investments | ~₹2,29,685 cr | per CRISIL at 30-Sept-2025 |
- From TheCompanyCheck, MCA aggregation — NOT a direct MCA pull; MCA blocked per standing guidance:
- Open charges: ₹61,550 crore; Satisfied charges: ₹1,15,942 crore; total charge records: 292.
- Sample open-charge holders: 400 cr (27-Dec-1996)
- "Others" ₹20,000 cr (10-Nov-2023)
- Secured-debenture detail, RIL/ 20,00,000 private placement
- Total secured debentures ₹28,389 cr as on 30-Sept-2025, secured by movable plant & machinery / fixed assets at Hazira and Dahej divisions. NOC for satisfaction of charge (CL02763) filed via Axis Trustee to NSE dated 03-Dec-2025.
- CAVEAT: MCA charge totals are gross/historical, not current outstanding exposure, e.g., the 1996 Syndicate Bank charge is a legacy un-satisfied filing.
- RIL is effectively net-cash after offsetting cash/
- Individual charge IDs and the full lender list NOT OBTAINED.
Credit Ratings
- DOMESTIC — all four agencies AAA/Stable, corroborated, not single-sourced:
- CRISIL, rationale RR_379987, 30-Oct-2025: CRISIL AAA/Stable (long-term) / CRISIL A1+ (short-term), reaffirmed. Bank Loan ₹1,00,000 cr AAA/A1+
- NCDs ₹15,000 cr + ₹20,000 cr AAA
- Commercial Paper ₹34,500 cr A1+
- ₹3,795 cr NCDs withdrawn (repaid). Cited: FY25 consolidated revenue ₹9,80,136 cr, PAT ₹81,309 cr, interest coverage 7.5x, Total Debt/Adjusted Net worth 0.5x, cash & liquid investments ₹2,29,685 cr at 30-Sept-2025.
- CARE / CareEdge (PR 04-Jul-2025): NCDs ₹6,500 cr + ₹5,500 cr + ₹20,000 cr CARE AAA/Stable reaffirmed
- CP ₹34,500 cr CARE A1+
- One NCD withdrawn. Consolidated approach
- Negative trigger Net debt/PBILDT above 2.5x.
- ICRA, rationale 140636, 29-Jan-2026: NCDs ₹12,000 cr [ICRA]AAA (Stable) reaffirmed
- NCDs ₹3,000 cr reaffirmed and withdrawn
- CP ₹10,000 cr [ICRA]A1+. Total rated ₹25,000 cr → ₹22,000 cr.
- India Ratings (Ind-Ra): AAA/Stable reaffirmed, per search; instrument-level amounts NOT OBTAINED — rating-details page failed to render.
- INTERNATIONAL:
- S&P Global: upgraded to 'A-' from 'BBB+' (~05-Dec-2025), two notches above India's sovereign.
- Moody's: Baa2 (stable) as of Dec-2025, subsequently upgraded to Baa1 (~29-May-2026), also two notches above sovereign.
Legal & Compliance
- , News-sourced, not primary court filings — treat as reported.
- A) KG-D6 gas-migration dispute, RIL / BP Exploration (Alpha) / Niko vs Government of India / ONGC, — ACTIVE, largest case.
- Government demand ~US$1.55 billion (~₹12,800 cr) alleging RIL commercially exploited gas that migrated from ONGC's adjacent KG-basin block.
- 2018: arbitration tribunal ruled for the RIL consortium.
- Feb-2024: Delhi High Court division bench, Justices Rekha Palli & Saurabh Banerjee, set aside the award citing "patent illegality" and public-policy breach.
- May-2025: RIL consortium moved the Supreme Court to restore the award.
- May-2026: SC declined to pause proceedings while RIL sought mediation.
- B) RPL insider-trading / SEBI case — RESOLVED IN RIL'S FAVOUR.
- Concerned Nov-2007 trading in Reliance Petroleum shares.
- Jan-2021: SEBI imposed ₹25 cr penalty on RIL, ₹15 cr on Mukesh Ambani, ₹20 cr on Navi Mumbai SEZ.
- 2023: Securities Appellate Tribunal quashed SEBI's order and directed refund of penalties.
Competitive Landscape
- India's largest private conglomerate — energy, petrochem, retail & telecom. Key competitors: Adani Group, group m-cap ~₹15+ L Cr
- Tata Group, group rev ~$150B+
- ONGC / IOCL (energy), rev ~₹6,50,000 Cr; m-cap ~₹3.5 L Cr
- Bharti Airtel (telecom), rev ~₹1,50,000 Cr; ~380M subs.
Frequently Asked Questions
What does Reliance Industries Limited do?
Reliance Industries Limited (CIN L17110MH1973PLC019786) is India's largest listed company by market value, a diversified conglomerate spanning oil-to-chemicals, retail (Reliance Retail) and digital/telecom (Jio), incorporated 08 May 1973, chaired by Mukesh Ambani, rated AAA by all four domestic agencies.
What is Reliance Industries Limited's CIN?
Reliance Industries Limited's Corporate Identification Number (CIN) is L17110MH1973PLC019786.
What is Reliance Industries Limited's GST number?
Reliance Industries Limited's primary GSTIN is 27AAACR5055K1Z7. It has 60 GST registrations across multiple states.
When was Reliance Industries Limited incorporated?
Reliance Industries Limited was incorporated on 08 May 1973.
Where is Reliance Industries Limited headquartered?
Reliance Industries Limited's registered office is at 3rd Floor, Maker Chamber IV, 222 Nariman Point, Mumbai, Maharashtra 400021 (registered office, confirmed both registries). Note: a principal GST place of business is listed at 5, TTC Industrial Area, Reliance Corporate Park, Thane Belapur Road, Ghansoli, Navi Mumbai 400701.. (HQ: Navi Mumbai ..)
Is Reliance Industries Limited listed on the stock exchange?
Yes, listed public company. BSE: 500325; NSE: RELIANCE (confirmed, TheCompanyCheck)
What are Reliance Industries Limited's latest financials?
All FY2024-25 figures below are CONSOLIDATED and verified against RIL's primary 48th Annual Report (audited by Deloitte Haskins & Sells LLP and Chaturvedi & Shah LLP, dated 25-Apr-2025).
Who are Reliance Industries Limited's main competitors?
India's largest private conglomerate, energy, petrochem, retail & telecom. Key competitors: Adani Group (group m-cap ~₹15+ L Cr); Tata Group (group rev ~$150B+); ONGC / IOCL (energy) (rev ~₹6,50,000 Cr; m-cap ~₹3.5 L Cr); Bharti Airtel (telecom) (rev ~₹1,50,000 Cr; ~380M subs).
Sources
BSE/NSE filings & annual report; tofler.in, thecompanycheck.com; BSE/NSE shareholding pattern; tofler.in; CRISIL rating rationale RR_379987 (30-Oct-2025); careratings.com (PR 04-Jul-2025); icra.in (rationale 140636; MCA / DIN records via tofler.in, falconebiz.com; MCA charge index via tofler.in, falconebiz.com; MCA filings / annual report via tofler.in; entrackr.com, moneycontrol.com, inc42.com (round names); Tracxn treated as unverified; gst.jamku.app (GSTIN 27AAACR5055K1Z7 + PAN roster); mastersindia.co (GSTIN 27AAACR5055K2Z6); indiankanoon.org; trade press; tofler.in, thecompanycheck.com, company disclosures & trade press; tofler.in/reliance-industries-limited/company/L17110MH1973PLC019786; thecompanycheck.com/company/reliance-industries-limited/L17110MH1973PLC019786
Information compiled from public registry and secondary sources. It may be incomplete or dated; verify independently before relying on it.