Reliance heads into 2026 AGM with Jio IPO, gigafactories slipping; FMCG arm doubles to ₹22,000 cr
Mint's pre-AGM scorecard flags missed five-year targets: delayed new-energy gigafactories despite ₹75,000 cr commitment, no Jio IPO, and a 15% YTD share slide against an ₹18 trillion market cap. Wins include 5G rollout and Reliance Consumer Products doubling FMCG revenue to ₹22,000 cr via Campa, Ravalgaon and Southern Health Foods.
What happened
Reliance Industries · Ahead of Reliance's 2026 AGM, Mint reviews missed targets including delayed new-energy gigafactories and Jio IPO, while flagging hits like
Key facts
- ₹18 trillion market cap
- ₹2.1 trillion Ebitda FY26
- ₹22,000 crore FCMG revenue FY26
- ₹75,000 crore new energy investment
- 15% YTD share decline
Why this matters
Reliance Consumer Products' bolt-on roll-up of Campa, Ravalgaon and Southern Health Foods to scale FMCG to ₹22,000 cr is the template for accelerating consumer M&A in India.