MUMBAI — Reliance Industries sold ₹67,005 crore more in the June quarter than it did a year earlier. Of that additional revenue it kept ₹4,967 crore at the operating line, which works out to a little over seven paise in the rupee. The company still called the quarter a record, and by its own measure it was.
Reliance closed Monday, August 24, 2026, at ₹1,309.80 on the National Stock Exchange, down ₹6.20 or 0.47 percent, and at ₹1,307.50 on the BSE. It opened at ₹1,316.60, never got above ₹1,320.00 and touched ₹1,302.40 in the afternoon before steadying. Volume was 72.63 lakh shares. India’s most valuable listed company, at ₹17.75 lakh crore, is 18.74 percent below the ₹1,611.80 it fetched at its twelve-month high and 4.80 percent above its low.
The reason a record quarter has not moved the share price is visible one line below the record. Consolidated revenue for the three months to June 30 rose 24.5 percent to ₹3,40,257 crore. Recurring EBITDA rose 10.1 percent to ₹54,067 crore. Profit after tax rose 6.1 percent. Each step down that sequence costs Reliance more than half the growth rate of the step above it, and the reason is that the division doing the growing is the one that earns the least on every rupee it takes in.
Reliance Share Price Today: NSE and BSE Close for August 24, 2026
| Measure | NSE · RELIANCE | BSE · 500325 |
|---|---|---|
| Closing price | ₹1,309.80 | ₹1,307.50 |
| Previous close | ₹1,316.00 | ₹1,314.00 |
| Change | -₹6.20 (-0.47%) | -₹6.50 (-0.49%) |
| Open | ₹1,316.60 | ₹1,316.00 |
| Day’s high | ₹1,320.00 | ₹1,319.80 |
| Day’s low | ₹1,302.40 | ₹1,303.00 |
| Volume traded | 72.63 lakh shares | – |
| 52-week high | ₹1,611.80 (-18.74% from today’s close) | |
| 52-week low | ₹1,249.80 (+4.80% from today’s close) | |
| Market capitalisation | ₹17,75,189 crore | |
| Trailing P/E · Price to book | 23.8 · 1.96 | |
| Book value per share · Return on equity | ₹668 · 8.91% | |
| NSE closing prices for August 24, 2026, with BSE figures from the exchange’s own quote feed, timestamped 16:00 IST. Valuation ratios and market capitalisation are Screener’s consolidated figures. | ||
Those last two rows are the argument in miniature. A return on equity of 8.91 percent is the lowest of any of the large Indian companies covered in this series, lower than a steel producer’s and less than a fifth of what TCS earns. Reliance is priced at 23.8 times earnings anyway, because the market is not paying for what the company earns today. It is paying for Jio and for retail.
Reliance Industries Stock Code on NSE, BSE and Global Data Feeds
| Exchange or provider | Code | Notes |
|---|---|---|
| NSE (National Stock Exchange) | RELIANCE | Series EQ. Nifty 50 constituent, the index’s largest weight |
| BSE (Bombay Stock Exchange) | 500325 | Scrip code. Group A, BSE Sensex constituent |
| ISIN | INE002A01018 | Depository identifier. Face value ₹10 |
| Google Finance | NSE:RELIANCE · BOM:500325 | The exchange-prefixed format Google requires |
| Yahoo Finance | RELIANCE.NS · RELIANCE.BO | Suffix marks the exchange |
| ISIN, scrip code and face value confirmed against the BSE’s company header feed. The ₹10 face value is unusual among large Indian companies, most of which have split down to ₹1 or ₹2, and is worth noting when comparing the headline share price with peers. | ||
Reliance Q1 FY27: Where the Growth Went
The consolidated income statement for the quarter ended June 30, 2026 shows growth thinning at every line.
| Measure | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | ₹3,40,257 cr | ₹2,73,252 cr | +24.5% |
| EBITDA | ₹54,067 cr | ₹49,100 cr | +10.1% |
| Finance cost | ₹8,337 cr | ₹7,036 cr | +18.5% |
| Depreciation | ₹15,100 cr | ₹13,842 cr | +9.1% |
| Profit before tax | ₹30,630 cr | ₹28,222 cr | +8.5% |
| Tax | ₹7,629 cr | ₹6,465 cr | +18.0% |
| Profit after tax | ₹23,196 cr | ₹21,859 cr | +6.1% |
| EBITDA margin | 15.9% | 18.0% | -2.1 points |
| Capital expenditure | ₹38,682 cr | – | – |
| Net debt · net debt to EBITDA | ₹1,22,914 cr · 0.60x | – | – |
| Figures as printed in Reliance’s Q1 FY27 analyst presentation of July 17, 2026. Profit after tax includes the share from associates and joint ventures. The year-earlier figures exclude a ₹8,924 crore profit on the sale of listed investments; include it and EBITDA is 6.8 percent lower year on year and profit after tax 24.6 percent lower. The EBITDA margin line is calculated by The Eastern Herald from the revenue and EBITDA rows. | |||
A finance cost rising 18.5 percent against EBITDA rising 10.1 percent is what ₹38,682 crore of quarterly capital expenditure looks like arriving on the profit and loss account. Reliance spent 71.5 percent of the quarter’s EBITDA on capital projects, in new energy, in O2C and in building out hyper-local delivery for retail. Net debt still fell slightly over the quarter and the leverage ratio held at 0.60 times, so the balance sheet is not the issue. The issue is that the spending has not yet produced the return.
The Segment Table Is the Story
Break the group into its parts and the shape of the quarter is unmistakable.
| Segment | Q1 FY27 (₹ cr) | Q1 FY26 (₹ cr) | Change | Share of group EBITDA |
|---|---|---|---|---|
| Digital Services | 21,255 | 18,312 | +16.1% | 39.3% |
| Oil to Chemicals | 17,010 | 14,511 | +17.2% | 31.5% |
| Retail | 6,309 | 6,381 | -1.1% | 11.7% |
| Oil and Gas | 4,973 | 4,996 | -0.5% | 9.2% |
| Others | 4,520 | 4,900 | -7.8% | 8.4% |
| Total | 54,067 | 49,100 | +10.1% | 100.0% |
| Segment EBITDA as printed in the Q1 FY27 analyst presentation. Shares of group EBITDA are calculated by The Eastern Herald. “Others” covers media, FMCG, real estate, treasury income and unallocable expenses. Digital Services is the reported segment; Jio Platforms as an entity reported EBITDA of ₹20,865 crore, up 15.1 percent. | ||||
The two lines that grew produced all of the group’s increase and then some. The three that shrank cost it. And the segment that shrank most awkwardly is retail, which turned over ₹90,408 crore in the quarter, up 12 percent, and earned 1.1 percent less EBITDA than it did on a smaller base a year ago. That is a margin falling from about 7.9 percent to about 7.0 percent, and the company’s own explanation is the ramp-up of hyper-local delivery, which is another way of saying it is spending to defend a position against faster competitors.
O2C did the opposite. Revenue up 30.4 percent, EBITDA up 17.2 percent to a four-year high, with the company crediting energy-market dislocation for margin strength and blaming special additional excise duty costs and fuel-retail under-recovery for holding the number back. Refining is doing well because the world is disorderly, which is not a condition anyone should underwrite for four quarters.
Jio remains the reliable one. Revenue of ₹45,961 crore, up 12 percent, EBITDA up 15.1 percent with margin expanding 150 basis points, average revenue per user at ₹215.60 against ₹208.80 a year earlier. More than 533 million subscribers, 285 million of them on 5G, and 28.6 million fixed-broadband homes with roughly half on AirFiber.
Reliance Share Price: Recent Sessions and the Levels That Matter
| Date | Close (₹) | Change | Volume |
|---|---|---|---|
| August 14, 2026 | 1,310.00 | -0.53% | 104.97 lakh |
| August 17, 2026 | 1,316.00 | +0.46% | 133.84 lakh |
| August 18, 2026 | 1,322.00 | +0.46% | 101.81 lakh |
| August 19, 2026 | 1,311.00 | -0.83% | 74.89 lakh |
| August 20, 2026 | 1,313.20 | +0.17% | 55.46 lakh |
| August 21, 2026 | 1,316.00 | +0.21% | 54.35 lakh |
| August 24, 2026 | 1,309.80 | -0.47% | 72.63 lakh |
| NSE closing prices and volumes. Seven sessions, a range of ₹1,302 to ₹1,322, and turnover that halved between August 17 and August 21. | |||
The stock has spent a fortnight inside 20 rupees. ₹1,302.40 was Monday’s low and the 52-week low of ₹1,249.80 is 4.8 percent beneath it, which is closer than most investors in India’s largest company are used to. Above, ₹1,322 has capped it twice this month.
What this article cannot tell you is when the capital expenditure starts paying. Reliance discloses the quarterly spend but not a segment-level return on the new energy investment, which is where a large share of it is going and which has no revenue line of its own in the presentation. Nor does the company say how long retail’s investment phase runs. Until either changes, the arithmetic stands as it is: revenue growing at 24.5 percent, EBITDA at 10.1 percent, profit at 6.1 percent, and a return on equity of 8.91 percent that the market is pricing at 23.8 times earnings on faith about what comes next.
Elsewhere on Monday, HDFC Bank held ₹729 near its 52-week low, ICICI Bank slipped 0.35 percent to ₹1,415 and Steel Authority of India rose 3.57 percent on four times its normal volume.
Reliance’s June-quarter figures are drawn from the company’s own analyst presentation of July 17, 2026. Closing prices and the scrip identifiers were verified against the BSE’s own quote feed for scrip 500325.
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