Reliance Industries Q2 Results FY27 Preview: Mukesh Ambani-led Reliance Industries Limited is expected to report steady sequential growth and strong year-on-year performance in its consolidated financial results for the July-September quarter of FY27. According to ET Now Research, the company’s net profit is estimated to rise 23 per cent year-on-year (YoY), while revenue is also projected to increase 23 per cent.
Reliance Industries Q2 results date
Reliance Industries is scheduled to announce its Q2 FY27 (September quarter) financial results on October 30, 2026.
The company’s consolidated profit after tax is projected at Rs 22,325 crore, representing a 23 per cent increase from Rs 18,165 crore in Q2 FY26. Sequentially, profit is expected to rise 7 per cent from Rs 20,946 crore.
Reliance Industries Q2 FY27 Preview: Key financial estimates
Reliance Industries’ consolidated EBITDA is estimated to increase 13 per cent YoY to Rs 51,941 crore from Rs 45,885 crore. On a sequential basis, EBITDA is expected to rise 9 per cent from Rs 47,517 crore.
The company’s EBITDA margin is projected at 16.6 per cent, compared with 15.4 per cent in the preceding quarter, indicating an improvement of 120 basis points. However, margins are expected to contract by 140 basis points from 18 per cent in the year-ago quarter.
Reliance Industries Q2 Results: O2C segment outlook
Reliance Industries’ oil-to-chemicals business is expected to deliver strong earnings growth during the September quarter.
The segment’s EBITDA is projected to increase between 40 per cent and 50 per cent YoY. On a sequential basis, O2C EBITDA is expected to rise between 25 per cent and 35 per cent.
The segment is likely to benefit from strong earnings from special economic zone (SEZ) refineries, stronger distillate spreads and higher petrochemical realisations.
A weaker Indian rupee and higher throughput are also expected to support the segment’s performance during the quarter.
Reliance Industries Q2 Results: Oil and gas segment outlook
Reliance Industries’ oil and gas business is expected to report a decline in earnings on a year-on-year basis.
The segment’s EBITDA is projected to fall between 5 per cent and 10 per cent YoY.
Despite an estimated 3 per cent sequential decline in gas production, upstream EBITDA is expected to remain broadly flat on a quarter-on-quarter basis.
Meanwhile, exploration and production (E&P) EBITDA is projected to decline between 5 per cent and 10 per cent YoY and between 5 per cent and 7 per cent QoQ.
Reliance Industries Q2 Results: Retail business outlook
Reliance Industries’ retail business is expected to report revenue growth during the second quarter, although operating profitability could remain under pressure.
The segment’s net revenue is projected to increase between 5 per cent and 15 per cent YoY.
However, operating EBITDA is expected to remain flat or decline marginally by 1 per cent to 5 per cent compared with the corresponding quarter last year.
On a sequential basis, retail operating EBITDA is projected to increase between 5 per cent and 10 per cent.
The scale-up of hyper-local deliveries and the festive shift are expected to weigh on operating profit.
Retail EBITDA margins are also projected to decline YoY, primarily due to the increasing contribution of lower-margin hyper-local deliveries to the overall business.
Reliance Industries Q2 FY27 Results: Key factors to watch
Investors will be watching the performance of Reliance Industries’ major business segments, particularly the anticipated growth in O2C earnings and margin trends in the retail business.
The O2C segment is expected to benefit from stronger refining and petrochemical conditions, while the oil and gas business could face pressure from lower production and weaker earnings.
In retail, revenue growth and the impact of hyper-local deliveries on profitability will remain key factors to monitor.
At the consolidated level, the estimates indicate strong year-on-year growth in revenue and profit, alongside an improvement in sequential EBITDA margins.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)