Digital to drive RIL’s next growth phase, say brokerages

Brokerages expect digital services to remain the key growth driver for Reliance Industries (RIL) in the coming quarters.

“Digital Services is likely to remain the biggest growth driver, contributing ~85% to RIL’s incremental consolidated Ebitda over FY26-28,” Motilal Oswal said in a report.

The brokerage expects the digital business to deliver an Ebitda (earnings before interest, taxes, depreciation and amortisation) CAGR of about 19% over FY26-29, driven by tariff hikes (around 15% from Q3FY27), market share gains in wireless, and continued ramp-up of home broadband and enterprise offerings.