Reliance heads into 2026 AGM with missed energy targets, FMCG arm doubling to ₹22,000 cr
Pre-AGM scorecard shows Reliance trailing on 100 GW solar, 40 GWh battery and gigafactory timelines despite ₹75,000 cr new energy commitment. Wins: 5G rollout complete and FMCG revenue doubling to ₹22,000 cr FY26 via Campa, Ravalgaon and Southern Health Foods. Stock down 15% YTD; Jio IPO eyed H1 2026.
What happened
Reliance Industries · Ahead of Reliance's 2026 AGM, Mint reviews missed targets across new energy gigafactories, solar capacity, and battery plants, while
Key facts
- ₹75,000 crore new energy investment
- ₹18 trillion market cap
- ₹2.1 trillion FY26 Ebitda
- ₹22,000 crore FMCG revenue FY26
- 100 GW solar target
- 40 GWh battery plant
- 15% YTD share decline
Why this matters
Reliance's FMCG roll-up playbook signals continued appetite for bolt-on consumer brand acquisitions, while new energy delays may open partnership or co-investment windows on the gigafactory build-out.