Reliance's FMCG arm RCPL turns EBITDA-positive for the first time as revenue doubles to Rs 8,600 crore

Reliance Consumer Products, home to Campa Cola, hit EBITDA breakeven for the first time as June-quarter gross revenue doubled to Rs 8,600 crore. Management targets Rs 1 lakh crore by FY2030, backed by Rs 30,000 crore supply-chain investment. A Rs 125 crore net loss remains.

— Source publishedSun, 19 Jul, 2026, 18:04 IST·First seen Sun, 19 Jul, 2026, 18:08 IST·Source ET Small Business

What happened

Reliance Consumer Products Ltd · Reliance's FMCG arm RCPL (Campa Cola) turned EBITDA-positive for the first time as revenue doubled to Rs 8,600 crore, targeting

Key facts

  • EBITDA-positive first time
  • Rs 125 crore net loss (4 months ended March 2026)
  • Rs 8,600 crore gross revenue (June qtr, doubled)
  • Rs 1,00,000 crore FY2030 target
  • Rs 30,000 crore supply-chain investment
  • Rs 10,000 crore invested
  • 100%+ order volume growth
  • online 13% grocery, 27% apparel/footwear sales

Why this matters

RCPL's rapid scaling and deep-pocketed supply-chain investment make it a disruptive threat to incumbent FMCG players, raising the strategic stakes for partnerships, distribution defense, or targeted acquisitions.

What to watch

  • Next-quarter net loss trajectory (narrowing vs widening)
  • Gross margin trend as discounts normalize
  • VBL/HUL commentary on competitive intensity in earnings calls
  • Progress on Rs 30,000 cr capex deployment and new plant announcements
  • New brand acquisitions or category launches by RCPL
  • Incumbents (VBL, Coca-Cola bottlers, HUL) defend with targeted regional price cuts and trade-scheme intensification
  • RCPL accelerates M&A of regional brands to fill category gaps toward the Rs 1 lakh cr target
  • Ramp distribution via kirana + JioMart to widen physical reach beyond metros
  • Analysts re-rate FMCG peers' margin outlook lower on structural price pressure

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