Guidance ledger · Q4 FY26

Reliance Industries Ltd RELIANCE

3 revisions on record · 0 lowered · 2 raised — the strikethrough is what management used to say

mixed guidance posture · shifted across quarters

Holding view → · latest concall · The pulse

↑ raised Battery energy storage gigafactory capacity Q2 FY26 → Q4 FY26

~~40 gigawatt hour at Jamnagar~~ → 100 gigawatt hours (equipment orders placed)

“we are now scaling the capacity to 100 gigawatt hours, where the equipment, the production line, equipment orders have already been placed.”

→ narrowed New energy ecosystem operationalisation timeline Q1 FY26 → Q4 FY26

~~next four to six quarters on a full-scale basis~~ → commission these factories in next few quarters

“we aim to commission these factories in next few quarters.”

↑ raised Solar PV module manufacturing capacity Q1 FY26 → Q2 FY26

~~10 gigawatt-peak announced~~ → 20 gigawatt-peak vertically integrated

“We started with an announcement of 10 gigawatt -peak, which we are now scaling up to 20 gigawatt of solar PV module production completely vertically integrated.”

Method. Revisions come from management's own stated numbers, compared quarter over quarter across the covered concalls; each carries the verbatim quote. “No revisions” can also mean guidance too vague to pin down — see the posture chip above. Not investment advice.