At its 49th Annual General Meeting, Reliance Industries outlined aggressive growth plans across consumer goods, retail, and digital businesses, while also taking a decisive step toward listing Jio Platforms, according to the company's announcements.
FMCG Ambition: Rs 1 Lakh Crore by FY30
Executive Director Isha Ambani Piramal said Reliance Consumer Products Ltd. (RCPL) aims to become one of India's largest fast-moving consumer goods companies. "Reliance Consumer Products Limited's near-term ambition is to reach Rs 1 lakh crore in revenue by the financial year 2030," she said. "Our long-term vision is to become one of India's largest FMCG companies on a global scale."
The consumer brands business is already gaining momentum. Campa, the beverage brand, recorded gross sales of more than Rs 4,700 crore during FY26, making it India's fourth-largest carbonated soft drink brand.
Jio Platforms IPO: Board Approves DRHP
The biggest announcement of the meeting came from the digital business. Chairman Mukesh Ambani revealed that Jio Platforms' board had approved its draft red herring prospectus (DRHP). The company plans to file the document with market regulator SEBI later on Friday, marking a key milestone in the telecom and digital services company's long-awaited public listing.
Retail Milestones: Smart Bazaar, Ajio, and Quick Commerce
Smart Bazaar, Reliance's supermarket chain, crossed the 1,000-store milestone, with much of the expansion focused on Tier-II towns and smaller markets.
In fashion, Ajio continued to scale, with its business expanding seven-fold over the past five years. Key metrics include:
- Average bill value rose 23%
- Average selling price increased 17%
- Catalogue grew to 3 million options
- Ajio Rush, its four-hour delivery service, now operates in more than 600 towns
Quick commerce remained a major growth engine. JioMart now operates what Reliance described as India's largest quick commerce network, spanning more than 3,100 stores across over 1,200 cities and 5,100 pin codes. Average daily orders rose 3.6 times year-on-year, while repeat quick commerce orders increased more than six-fold.
| Segment | Key Metric | Value |
|---|---|---|
| Smart Bazaar | Stores | 1,000+ |
| Ajio | Business growth (5 years) | 7x |
| Ajio Rush | Towns served | 600+ |
| JioMart Quick Commerce | Stores | 3,100+ |
| JioMart Quick Commerce | Cities | 1,200+ |
| JioMart Quick Commerce | Pin codes | 5,100 |
| JioMart Quick Commerce | Daily orders growth (YoY) | 3.6x |
| Campa | FY26 gross sales | Rs 4,700 crore |
Premium Fashion and Grocery Expansion
Reliance expanded its premium fashion portfolio through partnerships with international brands including Stella McCartney, Kurt Geiger, Max & Co., and Fabletics.
The grocery business also strengthened through higher customer footfalls and category expansion across food and non-food products. Metro Cash & Carry maintained growth by focusing on kirana stores and hospitality customers, while Milkbasket expanded its subscription-led daily essentials delivery business.
Long-Term Vision and Risks
Chairman Mukesh Ambani outlined a broader vision for retail: "The company's ambition for the next decade is not simply to be the world's largest retailer, it is to be the world's most intelligent, most humane, and most inclusive consumer ecosystem – one that makes a life of quality and dignity an everyday reality for every Indian." He added that Reliance is building large-scale manufacturing and export platforms to strengthen its consumer products ecosystem and expand globally.
Despite the aggressive expansion plans, Reliance cautioned in its annual report that macroeconomic uncertainty, pressure on discretionary spending, geopolitical disruptions, and supply chain volatility remain among the key risks facing the business.
The next milestone for investors will be Jio Platforms' formal DRHP filing with SEBI, which is expected later on the day of the AGM.
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