New Delhi: Reliance Industries Limited (RIL) has become the first Indian company to surpass the $120 billion revenue mark in FY26, reporting revenue of $124 billion.

In a post on X, the Mukesh Ambani-led conglomerate said it had grown from a textile company founded in 1966 into a global business group with operations spanning energy, telecom and retail.

The milestone comes nearly a month after the company became the first Indian firm to cross $10 billion in annual net profit. Reliance reported a net profit of Rs 95,610 crore before accounting for non-controlling interests, translating into $10.1 billion at the year-end exchange rate of 94.4 against the dollar.

The company posted EBITDA of $21.9 billion and profit after tax of $10.1 billion in FY26. Reliance said its net profit exceeded the combined earnings of IT majors Tata Consultancy Services, Infosys and HCLTech.

Reliance's digital business recorded 18 per cent year-on-year growth, driven by subscriber additions, better 5G and fixed broadband mix, and higher customer engagement. Its retail business grew 8 per cent year-on-year aided by expansion in hyperlocal commerce and softer food and grocery demand. The oil-to-chemicals business posted 10 per cent EBITDA growth despite sanctions and disruptions towards the end of the financial year.