Reliance Industries Q4 Results Date & Preview: Will RIL Shine In Q4 Amid West Asia War? To Consider Dividend

Reliance Industries' share price traded under pressure on April 23, a day ahead of its Q4 results, which are scheduled on April 24. Reliance's Q4 earnings will be keenly watched as it comes at a time when the US-Israel-Iran war has escalated into an energy crisis and supply shortage in the oil and gas sector globally, including for India. How the ongoing Middle East crisis has impacted Reliance can be assessed in its O2C and oil & gas business performance. On the other hand, Reliance's telecom and retail businesses are expected to perform steadily.

On Friday, Reliance is also looking forward to declaring its first dividend for 2026, which comes after dividend payout of Rs 15.5 per share and 1:1 bonus issue in the past two years.

Reliance Industries Share Price:

At the time of writing, Reliance Industries stock price traded at Rs 1352.70 apiece, down by 0.75%. Its current market cap stood at Rs 18.30 lakh crore.

In the past 1 month, Reliance stock has dropped by nearly 4%, while its six-monthly performance is lower by 7%.

Reliance Industries Q4 Results Date:

In its regulatory filing, Reliance said, a meeting of the Board of Directors of the Company is scheduled to be held on Friday, April 24, 2026, inter alia, to consider and approve the standalone and consolidated audited financial results of the Company for the quarter and year ended March 31, 2026.

Reliance Industries Q4 Results Preview:

Analysts at Kotak Institutional Equities expect Reliance's consolidated EBIT to surge by 2.7% YoY but could be down by 2.2% sequentially. The analysts predict EBITDA will be flat for O2C business, but down by 9.2% YoY for oil and gas segment. It could rise by 4.2% for retail business.

Further, they added, "We expect (1) consolidated O2C EBITDA of Rs150 bn flat yoy and down 8.9% qoq on energy market disruption due to the West Asia conflict; (2) E&P EBITDA of Rs46.5 bn to further decline 4.3% qoq (down 9.2% yoy) on lower KG-D6 volumes; (3) for the retail business, we assume revenue growth of 12% and consolidated EBITDA of Rs70 bn (up 4.2% yoy, 1.3% qoq)."

Meanwhile, analysts at PL Capital said, "Standalone EBITDA is expected to decline QoQ to Rs141.5 billion, impacted by higher freight costs due to disruptions around the Strait of Hormuz, elevated gas costs from lower availability for captive use, and weak petchem spreads, partly offset by stronger refining cracks amid elevated crude prices. Retail EBITDA is likely to remain under pressure at ~Rs68.7 billion, with modest growth of ~5.6% YoY. Jio EBITDA is expected
to rise ~3.3% QoQ, supported by a ~1.0% increase in ARPU to Rs215.8
and steady subscriber additions."

Reliance Industries Dividend Recommendation:

Additionally, on April 24, Reliance's board will consider dividend on equity shares for the financial year 2025-26, on April 24. If dividend proposal is approved on Friday, the record date, ex-date and payment date will be announced in due course.

Reliance holds a healthy record of dividend payout over the past two years. They rewarded investors with Rs 5.50 divided per share for FY25 in August 2025 and paid up to Rs 10 dividend per share for FY24 in August 2024. But in 2024, Reliance also rewarded investors with its bonus issue of 1:1 ratio, where eligible shareholders received 1 free share on existing 1 equity share.

So far instance, if you held 100 shares of Reliance as of October 28, 2024. Then the 1:1 bonus issue ratio applied will turn your existing 100 shares to 200 shares. The 1:1 bonus ratio usually doubles the number of shares, but reduces share capital reserves.

Bonus issue are free of cost and dividends are reward added to your already existing shares by the company from their profitability.

So, after bonus issue, investors earned Rs 5.5 dividend on 200 shares. The new dividend will be yet another big benefit.

It needs to be noted that this is just an example and gains vary from investor to investor depending upon their portfolio.

Reliance Industries Share Price Recommendation:

PL Capital has suggested BUY with target price of Rs 1,719. While Systematix has also recommended BUY for a target price of Rs 1700. Elara Capital has recommended ACCUMULATE with target price of Rs 1,717.

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