Mukesh Ambani says Reliance Industries will more than double its EBITDA by 2027

RIL AGM 2025 Highlights: Jio IPO by H1 2026; Mukesh Ambani unveils mega AI push, retail growth

“…the best of Reliance is yet to come. In 2022, I made a promise that we will double Reliance by the end of our Golden Decade. At that time, our EBITDA was about Rs 1.25 lakh crore ($14.6 billion). I reiterate that Reliance will more than double its EBITDA by the end of its Golden Decade in 2027,” said Ambani.

Looking ahead, he projected stable returns from the Oil-to-Chemicals (O2C) business and strong growth in the materials segment, driven by high-value green fuels and chemicals.

The New Energy business, which aims to make India energy self-sufficient by 2047, is expected to become as large as O2C within the next five to seven years. “In scale, ambition, and impact, it will surpass everything Reliance has done so far,” Ambani said.

The company’s consumer-facing engines will also accelerate, he added.

Jio, with over 500 million subscribers, is targeting complete 5G migration and a move to 6G by 2030. Reliance Retail, already serving more than 300 million Indians every month, is expected to multiply revenue through its omni-channel, physical-digital-B2B model.

Ambani called the two new businesses - Reliance Consumer Products (RCPL) which is set to emerge as India’s largest FMCG company and Reliance Intelligence, which will spearhead AI-driven deep-tech growth - as future growth engines for the Reliance group.

“Both have the potential to grow larger than our existing businesses,” he said, adding that RIL’s new Intelligence business will drive the AI revolution in India.

“This will enable Indians to adopt AI at scale and make our country a global force in AI.”

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