Reliance Industries Will Double Every Few Years: What Mukesh Ambani Said in Q1FY26 Earnings Presentation

In the Q1FY26 earnings presentation, Mukesh Ambani shared an ambitious and optimistic vision for Reliance Industries Limited (RIL). The company expects to double in size every 4 to 5 years. This statement not only reveals the company’s growth plans but also sets the stage for future innovation, digital expansion, and sustainable development.

In this blog, we explore Mukesh Ambani's comments, the financial results of Q1FY26, and the roadmap Reliance Industries is following to achieve this impressive goal.

Q1FY26: Strong Financial Performance

Reliance Industries delivered strong results in the first quarter of FY26, showing solid growth across all major business sectors: energy, telecom (Jio), retail, and digital services. Here are some key financial highlights from the earnings call:

- Net Profit: ₹21,610 crore, up 10% YoY

- Revenue: ₹2.49 lakh crore

- EBITDA: ₹43,450 crore, driven by strong results in refining and retail

- Jio Platforms: Over 12 million new subscribers added

- Retail: First time exceeding ₹80,000 crore in quarterly revenue

These results show Reliance’s strong position in both traditional and new sectors, providing a solid foundation for ambitious expansion targets.

Mukesh Ambani’s Vision: "Reliance Will Double Every 4 to 5 Years"

During the presentation, Mukesh Ambani outlined a clear and forward-looking roadmap. He stated:

“Reliance has entered a phase of rapid growth. With our diverse businesses and strategic investments in technology and green energy, we are confident that Reliance will double in size every 4 to 5 years.”

This claim relies on three key areas:

- Diversification across sectors

- Investments in future technologies

- Focus on sustainability and green energy

1. Digital and Telecom Growth via Jio

Jio continues to be the standout part of Reliance’s portfolio. In Q1FY26:

- Jio added over 12 million subscribers

- Average revenue per user (ARPU) rose to ₹191.7

- 5G services expanded to more rural and semi-urban areas

Mukesh Ambani emphasized that Jio’s nationwide 5G rollout is almost complete, making it the first operator in the world to launch a 5G standalone network at this scale.

In the coming quarters, Jio is expected to generate revenue from enterprise solutions, smart homes, and AI-powered services. This expansion aligns with Reliance’s goal to double revenues and user base in the coming years.

2. Retail: The Backbone of Consumer Growth

Reliance Retail reported record figures in Q1FY26, contributing significantly to overall growth:

- Revenue: ₹83,063 crore

- Net Profit: ₹3,200 crore

- 700+ new stores opened in Q1FY26

- Strong online presence through JioMart, Ajio, and Netmeds

Ambani highlighted Reliance’s plan to expand retail operations in Tier 2 and Tier 3 cities, offering a wide range of products from fashion to electronics to groceries. He called retail the "growth engine for India’s consumer future."

With digital-first experiences, AI-driven personalization, and same-day delivery logistics, Reliance Retail is changing how Indians shop and increasing the company’s value along the way.

3. Green Energy and Sustainability: The Future Pillar

One important focus area in Ambani’s vision is green energy. In FY25, Reliance began operations at its first green hydrogen and solar giga factories.

In Q1FY26, Ambani shared:

- The company’s Dhirubhai Ambani Green Energy Giga Complex in Jamnagar is close to completion

- Investments in solar panel production, green hydrogen, and battery storage are increasing

- The goal is to achieve net carbon zero by 2035

These efforts indicate that Reliance is not just interested in growth but also in future-proofing its business with sustainability and global standards.

Market Confidence: Reliance Shareholders Stay Bullish

The stock market reacted positively to the Q1FY26 presentation. Analysts from firms like Motilal Oswal and ICICI Securities maintained a "Buy" rating on RIL shares, noting:

- Strong core business

- Digital and retail margin expansion

- Upcoming listing of Jio Financial Services

- Significant potential in the green energy sector

Investor sentiment aligns with Mukesh Ambani’s doubling strategy for the next 4 to 5 years, especially given Reliance's proven ability to execute.

Strategic Partnerships and Global Outreach

Mukesh Ambani also discussed Reliance’s growing global influence through strategic partnerships:

- Collaborations with Meta, Google, and Microsoft to speed up digital transformation

- Joint ventures in petrochemicals and renewable energy with global companies

- Investments in AI, blockchain, and quantum computing to secure operations for the future

These steps help Reliance remain competitive not just in India but also on the global business stage.

Conclusion: A Roadmap Built on Confidence and Capability

The Q1FY26 earnings call was more than just figures; it was a declaration from Mukesh Ambani. His message was straightforward: Reliance is not slowing down. It is entering a new phase of rapid and responsible growth.

With strong fundamentals, visionary leadership, and a diverse portfolio, Reliance Industries is well-positioned to double its size every 4 to 5 years, as Ambani predicted.

As FY26 progresses, all eyes will be on how Reliance implements its ambitious plans and continues to shape India’s economic future.