India’s largest retail chain by revenues and number of stores, Reliance Retail Limited (RRL) has reported its FY 24-25 revenues and other details.
According to the company, Gross Revenues for FY 24-25 grew 8% year on year to INR 330,870 Cr vs 306,786 cr in FY 23-24.
EBITDA margin grew by 2 basis points, from 8.1% in FY 23-24 to 8.3% in FY 24-25. Profit after tax almost doubled to INR 21,392 cr from INR 11,101 cr in the previous year.
RRL currently operates 19,340 stores spread over 77.4 mn sq ft of area, of which 2,659 stores were added in the last fiscal.
The company mentions that it has a registered customer base of 349 Mn people in India and registered 1.4 Bn transactions during the year, a growth of 11% over last year.
Ajio, the e-commerce platform of RRL, strengthened its portfolio by 44% over last year to 2.4 Mn options and launched same day delivery and next day delivery in 26 Indian cities.
Shein, the Chinese fast fashion brand is now available on Google and Apple App stores and Web store with over 12,000 options.
Digital, the consumer durables format registered an impressive 26% growth in Average Bill Value while resQ, the on-demand services business is now live in 300 Indian cities.
On the grocery front, RRL is planning to scale its premium formats FreshPik and GoFresh while Metro Hypermarket delivered a 37% growth in its institutional (HoReCa) business.
Quick Commerce, where RRL has been pivoting various methods has still been a tricky area for the company, even as market leader Blinkit, followed by Swiggy Instamart and Zepto are burning cash to acquire & retain consumers.
Jio Mart currently offers its services to 4,000+ Pin Codes in India through 2,100+ stores. The company says it has witnessed 27% growth YoY in daily orders and 37% growth in web / app visits.
Reliance Retail’s FMCG arm with brands such as Independence, Campa, Sil, Tagz, etc. is now present across 1 mn shops through a distributor network of 3,200 partners.
The FMCG vertical contributed INR 11,500 Cr in revenues for the year.
Editor’s Note
Being the largest retail company in India and with a presence in every format possible, the revenue performance of Reliance Retail has been an important indicator of the Indian economy, especially in the hinterland.
The fact that offline retail is struggling on one side, even as large players like RRL (and DMart) are still drawing visitors is no mean feat, with the dominance of quick commerce options in metro cities and e-commerce across metros and Tier 2/3 towns.
RRL’s results repose confidence in the ongoing consumption story of India, which continues to be unstoppable, save for a few speed bumps here and there.
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