Latest news with #RelianceRetailVenturesLimited
&w=3840&q=100)
Business Standard
18-07-2025
- Business
- Business Standard
Reliance Retail Q1FY26 results: Net profit soars 33.2% to ₹3,267 crore
Reliance Retail Ventures Limited (RRVL) on Friday reported a 33.2% year-on-year rise in its net profit, reaching Rs 3,267 crore for the first quarter of the financial year 2025-26 (FY26). Executive director Isha Ambani said, 'Reliance Retail delivered resilient performance during this quarter, driven by our relentless focus on operational excellence, geographical expansion, and a sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility." Reliance Retail's EBITDA (earnings before interest, taxes, depreciation, and amortisation) from operations increased 10.9% to Rs 6,044 crore. The firm's revenue from operations stood at Rs 73,720 crore, up 11.3% year-on-year, while its gross revenue also rose by 11.3% to Rs 84,171 crore. Sequentially, revenue from operations decreased by 6.2%, and net profit dropped by 7.2%. Mukesh Ambani, chairman and managing director of Reliance Industries, said in a statement, 'Retail's business performance registered customer base expansion to 358 million, along with significant improvement across operating metrics.' He added, 'We are focusing on strengthening the portfolio of our own FMCG brands, which resonate with the tastes of Indian consumers. Our Retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach.' During the quarter, the company opened 388 new stores, taking its total store count to 19,592 with a total area of 77.6 million square feet. For the quarter ended June, its finance cost was up 7.6% year-on-year, totalling Rs 592 crore. The company's registered customer base grew to 358 million, making Reliance Retail one of the most preferred retailers in the country, according to its release. The company also highlighted that JioMart continued to expand quick hyper-local deliveries, registering a 68% quarter-on-quarter growth and 175% year-on-year growth in daily orders. Reliance Retail's consumer electronics business achieved steady growth, driven by a 26% increase in average bill value and a 200 basis point increase in conversions year-on-year. However, air conditioner sales were impacted due to the early onset of the monsoon, the company said. Its fashion and lifestyle business experienced growth in revenue and EBITDA, driven by new store formats and strong performance of its own brands. 'Growth has picked up with multiple initiatives undertaken in the last four quarters, including Reliance Trends launching in-trend designs and improving store experiences. Emerging formats of GAP, Azorte, and Yousta registered a 59% year-on-year growth, now operating in over 170 stores,' RRVL said in its release. It added that Shein continues to receive strong traction, crossing 2 million app downloads and over 20,000 live options. The grocery business also continued to grow at scale, consolidating its market leadership position, the company stated. It saw broad-based growth across categories, with home and personal care (HPC) growing at 15% year-on-year, fruits and vegetables growing at 15%, and packaged foods growing at 13%. 'The Metro format has seen strong growth momentum during the quarter, with key categories like home and personal care growing 25% year-on-year. Hot beverages and dry fruits & nuts each grew by 20% year-on-year. The business launched its 'Elite' loyalty program across customer cohorts during the quarter,' it said. Its quick hyper-local commerce saw a strong pick-up in daily orders, with 68% quarter-on-quarter growth and 175% year-on-year growth. Additionally, operations were scaled to 4,290 pin codes, serviced by over 2,200 stores in more than 1,000 cities.
Time of India
18-07-2025
- Business
- Time of India
Reliance Retail acquires Kelvinator to expand presence in consumer durables
New Delhi: Reliance Retail has acquired Kelvinator to strengthen its position in India's consumer durables sector, the company said in a press release on Friday. The acquisition aims to support the company's expansion in the premium home appliances category. Kelvinator, which introduced electric refrigeration globally, was a popular brand in India in the 1970s and 80s. The company plans to integrate Kelvinator's product range with its retail and distribution network to scale its presence in the segment. "The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network," said Isha M Ambani , Executive Director, Reliance Retail Ventures Limited (RRVL). Reliance Retail is expected to leverage its infrastructure and distribution reach to grow the Kelvinator brand in India's consumer durables market.
Business Upturn
18-07-2025
- Business
- Business Upturn
Reliance Retail acquires Kelvinator to strengthen its consumer durables presence
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries, has announced the acquisition of Kelvinator, marking a significant move to bolster its position in India's growing consumer durables market. The acquisition, disclosed in a media release filed with stock exchanges, aligns with Reliance Retail's strategy of 'democratizing aspirational living' and making premium home appliances accessible to a wider audience. Kelvinator, a global pioneer in electric refrigeration with a strong brand legacy in India since the 1970s, is known for its tagline 'The Coolest One' and has remained a trusted name for cutting-edge technology and durability. Reliance aims to leverage this legacy alongside its vast retail network to deliver high-quality, globally benchmarked products to every Indian household. 'Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready,' said Isha M Ambani, Executive Director of RRVL. 'The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers.' With over 19,340 stores, digital platforms, and partnerships with 3 million merchants, RRVL has established itself as a leader in India's retail landscape. The integration of Kelvinator is expected to enhance category growth, deepen consumer engagement, and unlock long-term opportunities in the premium home appliances segment. For the fiscal year ending March 31, 2025, RRVL reported a consolidated turnover of ₹3,30,870 crore and an EBITDA of ₹25,053 crore, cementing its status among the world's fastest-growing and most influential retailers. According to the company, this acquisition will help shape the future of India's consumer durable sector by blending Kelvinator's legacy of innovation with RRVL's unmatched scale and service capabilities. About Reliance Retail Ventures Limited: RRVL operates an omni-channel retail ecosystem spanning grocery, electronics, fashion, lifestyle, and pharmaceuticals, and remains the only Indian retailer in the Global Top 100 Retailers list by Deloitte (2023). Ahmedabad Plane Crash
The Hindu
18-07-2025
- Business
- The Hindu
Reliance Retail acquires Kelvinator
Reliance Retail Ventures Limited, a division of Reliance Industries Limited, has announced the acquisition of Kelvinator, the iconic consumer durables brand, for an unspecified amount. Kelvinator pioneered electric refrigeration for home use globally. In India, it achieved iconic status in the 1970s and 80s with its memorable tagline, 'The Coolest One.' Reliance Retail picks up minority stake in U.K.'s FACEGYM 'This acquisition strategically aligns with Reliance Retail's vision of democratising aspirational living. By integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive and unparalleled retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India,' Reliance Retail said in a statement. 'This synergy will ensure that high-quality, globally-benchmarked products are accessible to every Indian household, enhancing their daily lives,' it added. Reliance to invest ₹75,000 cr in North-Eastern States: Mukesh Ambani 'Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready,' said Isha M Ambani, Executive Director, Reliance Retail Ventures Limited . 'The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network,' she said.
India.com
18-07-2025
- Business
- India.com
What is the salary of Asia's richest man Mukesh Ambani, his wife Nita Ambani and children Akash Ambani, Isha Ambani, Anant Ambani?
Ambani family (File) Anant Ambani, the youngest son of billionaire Mukesh Ambani, has been appointed as an Executive Director at Reliance Industries, the family's main company. According to a notice sent to shareholders, Anant will now receive a salary between Rs 10 to 20 crore each year, along with many extra benefits, including a share of the company's profits. In 2023, all three of Mukesh Ambani's children—Akash, Isha, and Anant—were added to the board of Reliance Industries as non-executive directors. At that time, they did not get a salary. Instead, they were each paid Rs 4 lakh as sitting fees and got a profit commission of Rs 97 lakh for the year 2023–24. But now that 30-year-old Anant has become an Executive Director (as of April this year), he will start receiving a full salary, bonuses, and other perks as part of his new role in the company. Isha Ambani's salary Isha Ambani is a non-executive director at Reliance Industries and also serves as an Executive Director at Reliance Retail Ventures Limited (RRVL). As per a report by ET Hindi, she earns around Rs 35 lakh per month, which adds up to about Rs 4.2 crore per year. This figure does not include bonuses or dividends. Nita Ambani's salary Nita Ambani is the chairperson of Reliance Foundation and a member of the Indian Olympic Association. As a non-executive director on the Reliance Industries board, she is paid sitting fees and commission based on profits. In 2022–23, she earned Rs 6 lakh as sitting fees and Rs 2 crore as commission. In 2020–21, she received Rs 8 lakh as sitting fees and Rs 1.65 crore as commission. Mukesh Ambani's salary Mukesh Ambani, the chairman of Reliance Industries and Asia's richest man, has not taken any salary from the company for four years in a row. From 2008 to 2020, he used to earn Rs 15 crore per year. But after the COVID-19 pandemic, he chose to stop taking a salary until the company's earnings fully recover. In 2023–24, he again took no salary, perks, or allowances. Akash Ambani's salary Akash Ambani is a director at Reliance Retail Ventures Ltd. He is reported to have an estimated yearly income of Rs 5.6 crore. However, his exact salary details have not been made public. His net worth is estimated to be around $40.1 billion.
