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Reliance hits record Q1 FY26 EBITDA as Jio and retail fire on all cylinders

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MUMBAI: Reliance Industries has kicked off FY26 with a blockbuster first quarter, posting its highest-ever consolidated quarterly EBITDA of Rs 58,024 crore ($ $6.8 billion), a sharp 35.7 per cent leap over last year, fuelled by robust performances across digital, retail and energy verticals.

Group net profit soared 76.5 per cent year-on-year to Rs 30,783 crore ($3.6 billion), aided by operational gains and a Rs 8,924 crore windfall from its stake sale in Asian Paints. Total revenue rose 6 per cent to Rs 2.73 lakh crore ($31.9 billion), with EBITDA margins improving by a stellar 460 basis points to 21.2 per cent.

Reliance Jio continued to dominate the digital landscape, crossing a jaw-dropping 200 million 5G subscriber milestone and 20 million home broadband connections. Jio Platforms’ revenue jumped 19 per cent to Rs 35,032 crore, while EBITDA climbed 24 per cent to Rs 18,135 crore, with margins expanding 210 basis points to a best-in-class 51.8 per cent.

ARPU rose to Rs 208.8, driven by premium subscriber additions and deepening data consumption, which reached 54.7 billion GB this quarter. Jio also unveiled its next-gen tech stack—JioGames Cloud, JioPC, and the proprietary UBR fixed wireless platform—taking a firm aim at India’s AI and home computing future.

Reliance Retail cemented its pole position, clocking Rs 84,171 crore in revenue (up 11.3 per cent), and EBITDA of Rs 6,381 crore (up 12.7 per cent), marking an industry-leading margin of 8.7 per cent. The business added 388 new stores, taking the total footprint to 19,592 outlets spanning 77.6 million sq ft.

JioMart’s hyper-local push paid off with daily order volumes exploding 175 per cent year-on-year. AJIO continued to thrive in the online fashion segment with its new 4-hour delivery service and strong traction for Shein, while the FMCG arm doubled revenue to Rs 4,400 crore.

Reliance’s Oil-to-Chemicals (O2C) segment, despite a 1.5 per cent drop in revenue due to crude price softness and planned shutdowns, posted a solid 10.8 per cent EBITDA gain at Rs 14,511 crore. Jio-bp’s aggressive retail fuel push contributed significantly, with volumes of petrol and diesel up 38.6 per cent and 34.2 per cent respectively.

With net debt remaining flat at Rs 1.17 lakh crore and capital expenditure of Rs 29,875 crore this quarter, the group is doubling down on its “golden decade” growth strategy across tech, consumption, and energy. Chairman Mukesh Ambani said, *“Reliance will continue its stellar track record of doubling value every four to five years.”

From superfast data to doorstep delivery and clean fuels, Reliance is firing on all fronts—and showing no signs of slowing down.

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Delhivery chairman Deepak Kapoor, independent director Saugata Gupta quit board

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Gurugram: Delhivery’s boardroom is being reset. Deepak Kapoor, chairman and independent director, has resigned with effect from April 1 as part of a planned board reconstitution, the logistics company said in an exchange filing. Saugata Gupta, managing director and chief executive of FMCG major Marico and an independent director on Delhivery’s board, has also stepped down.

Kapoor exits after an eight-year stint that included steering the company through its 2022 stock-market debut, a period that saw Delhivery transform from a venture-backed upstart into one of India’s most visible logistics platforms. Gupta, who joined the board in 2021, departs alongside him, marking a simultaneous clearing of two senior independent seats.

“Deepak and Saugata have been instrumental in our process of recognising the need for and enabling the reconstitution of the board of directors in line with our ambitious next phase of growth,” said Sahil Barua, managing director and chief executive, Delhivery. The statement frames the exits less as departures and more as deliberate succession, a boardroom shuffle timed to the company’s evolving scale and strategy.

The resignations arrive amid broader governance recalibration. In 2025, Delhivery appointed Emcure Pharmaceuticals whole-time director Namita Thapar, PB Fintech founder and chairman Yashish Dahiya, and IIM Bangalore faculty member Padmini Srinivasan as independent directors, signalling a tilt towards consumer, fintech and academic expertise at the board level.

Kapoor’s tenure spanned Delhivery’s most defining years, rapid network expansion, public listing and the push towards profitability in a bruising logistics market. Gupta’s presence brought FMCG and brand-scale perspective during a period when ecommerce volumes and last-mile delivery economics were being rewritten.

The twin exits, effective from the new financial year, underscore a familiar corporate rhythm: founders consolidate, veterans rotate out, and fresh voices are ushered in to script the next chapter. In India’s hyper-competitive logistics race, even the boardroom does not stand still.

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Brnd.me enters Europe as haircare brands power global expansion

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Bengaluru:  Brnd.me, the global consumer brands company formerly known as Mensa Brands, has entered the European market following strong momentum across the Middle East, the United States and Canada.

The company has launched across the UK, Germany, France and Spain, with plans to expand into Italy, the Netherlands and Poland over the next year. The push is being led by its haircare and aromatherapy brands, Botanic Hearth and Majestic Pure, marking Brnd.me’s first structured expansion into Europe.

The European beauty market represents a total addressable opportunity of over $4 billion across haircare and aromatherapy, supported by high digital adoption and demand for accessible, performance-led products.

Brnd.me’s hair care and aromatherapy business currently operates at an annual run rate of around $6 million, with Botanic Hearth and Majestic Pure delivering roughly 10 per cent month-on-month growth, driven by expansion and rising repeat demand.

To support regional growth, the company has appointed a general manager based in Germany and is evaluating investments in warehousing and local team expansion.

Early traction has been strong. Within weeks of launch, Botanic Hearth’s rosemary hair oil ranked among the top five hair oils in Germany, signalling strong consumer pull in a competitive market.

Brnd.me founder and chief executive officer Ananth Narayanan, said Europe represents the next phase of the company’s international strategy. He added that the European business is expected to scale to a $10 million annual run rate by the end of 2026, with long-term ambitions to reach $60 million over the next six years.

The company’s Europe strategy centres on digital-first distribution, repeat demand and TikTok-led discovery, alongside direct-to-consumer expansion to strengthen brand equity and margins.

The move also aligns with growing EU–India trade engagement, supporting long-term sourcing and cross-border supply chains.

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TechnoSport taps quick commerce with launch on Slikk’s 60-minute platform

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NATIONAL: TechnoSport has launched on Slikk, the ultra-fast fashion app offering 60-minute delivery, as the activewear brand accelerates its push into quick commerce to capture Gen Z and young millennial shoppers.

The debut brings more than 150 high-performance styles to Slikk’s platform, with an average selling price of Rs 450, expanding TechnoSport’s reach across over 80 pin codes.

The partnership follows strong momentum for TechnoSport across Q-commerce channels, where the brand has recorded around 60 per cent volume growth over the past six months. The company expects quick commerce to contribute nearly 20 per cent of its revenue in the coming years as hyperlocal delivery gains scale.

Slikk, which recently raised $3.2 million in seed funding led by Lightspeed, has rapidly gained popularity among youth consumers seeking speed, trend relevance and impulse-led shopping experiences.

Activewear remains one of Slikk’s fastest-growing categories, driven by shoppers increasingly treating fitness-led fashion as an everyday essential. The platform has reported a 30-fold year-on-year increase in items sold, reflecting rising demand for performance wear that blends comfort with style.

TechnoSport chief executive officer Puspen Maity, said the collaboration would help the brand engage more closely with young consumers whose fashion choices are shaped by instant needs and lifestyle aspirations. He added that rapid delivery bridges the gap between intent and purchase, allowing shoppers to access activewear exactly when they want it.

 

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