What to expect?
At Reliance’s 48th AGM, investors will be watching closely for updates on consumer and enterprise digital services. The market will also be looking for clarity on Reliance’s plans in fast fashion and quick commerce, two areas where the company has been scaling up aggressively to capture new consumer trends.Another area of focus will be the new energy business, where progress updates are likely to be viewed positively.
Reliance: Value unlocking?
Beyond business updates, shareholders will also be watching for any potential value-unlocking announcements.
In 2019, Reliance had indicated plans to list its telecom and retail arms within five years. Investors will be keen to hear if there is any movement on that front.
Reliance: Oil-to-Chemicals (O2C) biz
RIL is targeting capex through FY27, including:
Polyester: 5 mtpa
Vinyl: 3.9 mtpa
Carbon Fibre: 20 ktpaGlobal oil demand dynamics will also shape the outlook. While new refinery ramp-ups in 2025 may pressure product cracks, expected closures could create upside potential for refining margins.
Demand for downstream chemical products in India is expected to grow higher than GDP, driven by infrastructure, packaging, auto and agriculture.
Reliance: Oil & Gas biz
Current production: 28.5 mmscmd
Share of India’s gas supply: 30%
Reliance Industries plans to drill additional wells at the KG-D6 basin by H2CY28 to boost output and offset natural decline.
New Energy business
Reliance Industries is building an integrated facility for polysilicon-to-modules, electrolysers and battery manufacturing. It expects the platform to be operational in 4-6 quarters and to become self-funded in the next few years.
Progress so far
– Engineering and procurement completed
– Equipment deliveries scheduled for 2025
– First gigawatt-scale solar PV module line already commissioned
