Reliance Industries Q1 FY27: Oil-to-Chemicals EBITDA rises 17%; solar and battery manufacturing plans advance
Reliance Industries reported a 17.2% year-on-year rise in Oil-to-Chemicals (O2C) EBITDA to ₹17,010 crore in Q1 FY27, driven by crude diversification, product placement in deficit markets, and favourable ethane-cracking economics. The O2C segment's revenue grew 30.4% to ₹2,01,803 crore, supported by a 54.1% increase in crude prices and improved downstream margins despite maintenance-related production cuts. The company is advancing plans for 20 GW of solar manufacturing and 40 GWh of battery capacity this year, while also increasing drilling in the Krishna-Godavari basin to offset natural gas declines.