Reliance Industries posts record quarter on O2C strength, analysts keep Buy ratings
Reliance reported record second-quarter revenue and profit on refining and chemicals. Goldman Sachs and Nomura kept Buy ratings with target prices.
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what happened
According to TradingView, citing Moneycontrol, Reliance Industries reported its strongest quarterly results ever. Consolidated revenue rose 28% year on year to an all-time high of Rs 3.62 lakh crore, EBITDA climbed 24% to a record Rs 62,409 crore, and net profit jumped 34% to Rs 29,550 crore.
The oil-to-chemicals business drove the gains, with revenue up 44.2% and EBITDA up 67.9%. Goldman Sachs said EBITDA beat its estimates by 9%. Retail was weaker, with EBITDA down 11% and the margin contracting 140 basis points.
why it matters
Analysts link the record results to refining cracks at multi-decade highs. Goldman Sachs expects refining margins to ease in the third quarter as very large crude carrier freight costs rise, though processing discounted heavy crude could partly offset that.
market impact
Reliance shares: record O2C results support the stock, weak retail limits the upside
- Reliance Industries shares pressure up — record revenue and EBITDA beat analyst estimates in the O2C segment
tags
instruments
sources
- Reliance Industries stock outlook bullish on strong O2C earnings, steady Jio growth; check target prices, upside — TradingView, 2 November 2026 at 03:50 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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