Essentials, staples drive Reliance’s FMCG business, qcomm push hits retail margins – News Air Insight

Daily essentials and staples have emerged as the largest revenue generator for Reliance Industries‘ fast-moving consumer goods (FMCG) venture, accounting for ₹8,800 crore, or 40% of gross revenue, in FY26, according to Reliance Consumer Products (RCPL) chief financial officer Ashutosh Goyal. RCPL recorded sales of more than ₹6,000 crore from its beverages business in the financial year, Goyal told analysts during a question-and-answer session following the parent company’s earnings call on Friday night.

Reliance entered the FMCG segment a little over three years ago with staples and beverages, with the overall FMCG business clocking gross sales of ₹22,000 crore in FY26, nearly double the previous year’s figure.

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“Beverages and daily essentials were the two largest contributors to RCPL’s revenue in the last fiscal,” Goyal said.

Reliance’s soft drinks brand, Campa, remained the company’s largest FMCG brand with sales of ₹4,700 crore, followed by staples brand Independence, which reported sales of ₹2,600 crore in FY26. The company said Campa has become the country’s fourth-largest carbonated soft drink brand, with a double-digit market share in certain territories.

Read more: Boost for tourism, draft rules finalised for trailer caravansReliance has expanded its daily essentials portfolio across categories ranging from pulses to edible oils. It has also launched beverages, packaged drinking water, biscuits, soaps, chocolates and confectionery products, spanning a broad range of FMCG categories.

RCPL was demerged from Reliance Retail Ventures in December last year and made a direct subsidiary of the ultimate parent company, Reliance Industries.

Meanwhile, Reliance Retail Ventures chief financial officer Dinesh Taluja hinted that margins in the retail business are expected to remain under pressure in the near term due to the rapid scale-up of quick commerce operations.

“If we slow down growth in online, the earnings before interest, taxes, depreciation and amortisation (Ebitda) margins will start improving again. Online is growing faster and each business contributes differently to the Ebitda mix. It depends on how quickly offline retail grows compared with quick commerce and business-to-business operations,” Taluja said.

Reliance Retail on Friday reported an Ebitda margin from operations of 7.9% for the January-March quarter, impacted by investments in quick commerce, compared with 8.5% in the year-ago period. For FY26, Ebitda margin stood at 8.3%, against 8.6% in the previous fiscal.