Should you buy Reliance shares after strong Q1 results 2026?

Mukesh Ambani-led oil-to-telecom conglomerate Reliance Industries share price will remain in focus in Monday's trading session after the company reported its financial results for the quarter ending on 30 June 2026 on Friday. The company announced its Q1 results 2026 after market hours on 17 June.

Reliance Industries share price gained 2.50% on Friday, ending the session at ₹1,328.80 apiece.

Reliance Industries reported a 22.4% year-on-year (YoY) decline in its consolidated net profit attributable to owners of the company at ₹20,946 crore for the April–June quarter of FY27 (Q1FY27), compared with ₹26,994 crore in the same period last year.

On a sequential basis, however, the company's profit increased 23.4% from ₹16,971 crore reported in the January–March quarter (Q4FY26).

The conglomerate's revenue from operations climbed 25.4% YoY and 4.4% quarter-on-quarter (QoQ) to ₹3,11,850 crore in Q1FY27. Revenue stood at ₹2,48,660 crore in Q1FY26 and ₹2,98,621 crore in Q4FY26.

Consolidated EBITDA rose 10.1% YoY and 11.3% QoQ to ₹54,067 crore. While the EBITDA margin contracted by 210 basis points on a yearly basis, it improved by 100 basis points sequentially to 15.9%.

The decline in reported annual profit was primarily due to a high base in the year-ago period, which included a one-time gain of ₹8,924 crore from the sale of Reliance's stake in Asian Paints. Excluding this exceptional item, the company's net profit for the quarter registered a 15.9% YoY increase.

“RIL began FY27 on a strong note with consolidated revenue up 24.5% YoY to ₹340,257 crore and record recurring EBITDA of ₹54,067 crore, up 10.1% YoY, demonstrating portfolio resilience amid West Asia tensions and crude volatility. PAT rose 6.1% YoY to ₹23,196 crore. Jio Platforms was the key growth engine: revenue grew 12% to ₹45,961 crore and EBITDA jumped 15.1% to ₹20,865 crore with margins expanding 150 bps to 53.3% on operating leverage,” said Seema Srivastava, Senior Research Analyst at SMC Global Securities.

Srivastava further added that the DRHP filing for Jio’s IPO is a major milestone to unlock value and let investors participate in India’s digital economy. Retail posted 7.4% revenue growth to ₹90,408 crore, 11.6% adjusted, with 568 million transactions up 46% YoY, though EBITDA fell 1.1% as digital commerce scale-up weighed on margins.

Sugandha Sachdeva, Founder of SS WealthStreet, believes that Reliance remains well positioned to sustain earnings growth, supported by multiple structural growth drivers.

“The proposed Jio IPO is expected to act as a significant value-unlocking catalyst, while continued investments in digital infrastructure, retail expansion and the commissioning of its new energy businesses are likely to strengthen long-term growth prospects. The company's diversified business model continues to provide resilience against volatility in any single segment, allowing it to navigate a challenging global environment effectively,” Sachdeva said.

On the technical outlook, Sachdeva said that the stock appears to have completed a prolonged phase of correction and consolidation after retreating from its highs of around Rs.1,600. The stock has once again found strong support near the Rs.1,280 zone, a level that has consistently acted as a demand area on the weekly charts since April 2025. Despite briefly slipping below this support intraday on a few occasions, the stock has managed to close above it, indicating that long-term investors continue to accumulate at lower levels.

"In the near term, the stock is expected to extend its recovery towards the Rs.1,450-1,480 zone, where strong resistance is likely to emerge and profit booking could limit further gains. The broader structure still reflects a double-top pattern formed in the Rs.1,585-1,600 region, making this resistance zone crucial for determining the next leg of the trend.

While the current technical setup favours a gradual recovery, a sustained and decisive breakout above Rs...