Reliance Industries Limited (RIL) has announced the merger of its wholly owned subsidiaries in the Middle East as part of its ongoing corporate restructuring efforts. Reliance Exploration & Production DMCC has been amalgamated with Reliance Industries (Middle East) DMCC, with the merger taking effect on September 16, 2025.
The move is aimed at simplifying the company’s international corporate structure, eliminating duplication, and improving operational efficiency across its overseas energy portfolio. Since both entities were fully owned by RIL, the restructuring will not impact external shareholders. By consolidating operations under a single entity, Reliance is expected to enhance coordination, lower administrative costs, and streamline its regional strategy.
Q1 FY26 Performance
Alongside the restructuring update, Reliance also reported a resilient performance for the first quarter of FY26.
- Revenue Growth: The company posted gross revenue of ₹2,73,252 crore ($31.9 billion), reflecting a 6% year-on-year increase.
- Digital & Retail Strength: Jio Platforms Limited (JPL) recorded an 18.8% revenue growth, driven by subscriber additions and higher data consumption, while Reliance Retail Ventures Limited (RRVL) reported an 11.3% jump, supported by strong demand in grocery and fashion segments.
- O2C and Oil & Gas Weakness: The Oil to Chemicals (O2C) business saw a 1.5% revenue decline due to lower crude prices and volumes. Oil and Gas revenues also slipped 1.2% on account of weaker price realisations and reduced production.
- Earnings Surge:
- EBITDA rose sharply by 35.7% year-on-year to ₹58,024 crore ($6.8 billion), supported by operational efficiencies and healthy margins.
- Profit After Tax (PAT) climbed 76.5% to ₹30,783 crore ($3.6 billion), bolstered by improved performance across verticals and gains of ₹8,924 crore from the sale of listed investments.
- Cost Pressures: Depreciation expenses increased modestly by 1.8% to ₹13,842 crore, while finance costs rose 18.9% to ₹7,036 crore, largely due to the operationalisation of 5G spectrum assets.
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