What Is Turnover Of Reliance Industries?
Reliance Industries’ ₹10 Lakh Crore Milestone: Detailed Analysis with Segment-Wise Figures
1. The Record-Breaking Achievement
In the financial year ending March 31, 2024, Reliance Industries Limited (RIL) became the first Indian company to cross the ₹10 lakh crore mark in annual consolidated turnover. The figure stood at ₹10,00,122 crore, which is roughly USD 119.9 billion.
This accomplishment, highlighted by Chairman Mukesh Ambani in the company’s Annual General Meeting, marks a major moment in Indian corporate history, reflecting Reliance’s multi-sector growth strategy and operational strength.
2. Understanding What Turnover Means for RIL
Turnover refers to the total revenue earned from all core business operations over a financial year, without subtracting costs or expenses.
For Reliance, this includes income from five major areas:
- Oil-to-Chemicals (O2C) – refining and petrochemicals.
- Retail – physical stores, online shopping, and consumer brands.
- Digital Services – telecom and internet under Jio Platforms.
- Oil & Gas – exploration and production of hydrocarbons.
- Others – includes media, entertainment, and new energy initiatives.
3. Segment-Wise Turnover for FY 2023-24
Based on official disclosures and reliable financial data, Reliance’s revenue distribution for FY 2023-24 is as follows:
| Segment | % of Total Revenue | Turnover (₹ crore) |
|---|---|---|
| Oil-to-Chemicals (O2C) | 53.12% | 5,32,766 |
| Retail | 26.68% | 2,66,838 |
| Digital Services | 11.05% | 1,10,514 |
| Oil & Gas | 2.38% | 23,803 |
| Others | 6.77% | 67,602 |
| Total | 100% | 10,00,122 |
(Figures rounded to the nearest crore.)
4. Performance by Business Arm
Oil-to-Chemicals (O2C)
Still the revenue backbone, the O2C segment contributed over ₹5.32 lakh crore, benefiting from strong refining margins and stable demand for petrochemicals.
Retail
With a turnover of ₹2.66 lakh crore, Reliance Retail expanded store networks across India and grew its e-commerce reach. Increased consumer spending and festive sales added to the momentum.
Digital Services (Jio)
Generating ₹1.1 lakh crore, Jio Platforms capitalised on its expanding subscriber base, growing mobile data consumption, and rollout of 5G services nationwide.
Oil & Gas
Although smaller in size, this segment saw solid growth, delivering nearly ₹24,000 crore, thanks to increased production from the KG-D6 block and stable gas prices.
Others
This category, worth ₹67,600 crore, covers media ventures, new energy projects, and other emerging businesses—areas likely to play a bigger role in the coming years.
5. Significance of the Revenue Mix
- Balanced Growth – While O2C remains the largest contributor, almost half of Reliance’s revenue now comes from consumer and technology-driven businesses.
- Resilience to Market Shocks – Diversification reduces dependence on global oil price trends.
- Platform for Future Expansion – Retail, digital, and green energy are positioned to capture higher market share in the next decade.
6. Heavy Investments Driving Turnover
In the last three years, RIL has invested over ₹5.28 lakh crore in:
- Rolling out pan-India 5G infrastructure and expanding fibre connectivity.
- Adding new retail formats and deepening reach into smaller cities.
- Boosting refining capacity and petrochemical output.
- Building large-scale renewable energy infrastructure, including the Dhirubhai Ambani Green Energy Giga Complex.
These investments have strengthened the company’s revenue potential across all segments.
7. Contribution to India’s Economy
In FY 2023-24 alone, RIL paid ₹1,86,440 crore in taxes, duties, and levies to the government. Beyond financial contributions, Reliance supports millions of jobs—both directly and through its supply chains.
8. Global Standing
Crossing ₹10 lakh crore in turnover places Reliance among the top 100 largest companies globally by revenue, proving that an Indian conglomerate can compete on the world stage while maintaining leadership at home.
9. Future Outlook
Chairman Mukesh Ambani’s growth roadmap includes:
- Doubling Retail and Jio revenues in the next 3–4 years.
- Making new energy a major revenue stream within 5–7 years.
- Expanding global partnerships to enhance technology and supply chains.
If executed as planned, Reliance’s turnover could surpass current records by a significant margin.
Final Word
Reliance Industries’ turnover of ₹10,00,122 crore in FY 2023-24 is not just a financial achievement—it’s evidence of a business model built on diversification, scale, and long-term investment.
From its traditional energy roots to its growing presence in retail, telecom, and renewables, RIL’s evolution showcases how a single enterprise can influence an entire nation’s economic direction while setting new benchmarks in global business.
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