Reliance Industries Limited (RIL) experienced challenges in its oil-to-chemicals (O2C) division, which accounts for 57% of its revenue, reporting a 4% year-on-year decline in operating profit before depreciation and amortization (Ebitda). This decline is attributed to geopolitical tensions in West Asia, leading to supply disruptions and a drop in margins to a nine-quarter low of 7.9%. Despite these challenges, RIL's non-oil operations provided some cushion. Jio Platforms, encompassing digital and telecom services, achieved an 18% growth in Ebitda, while the retail segment saw a 3% increase in Ebitda, supported by an 11% rise in revenue. Analysts from Motilal Oswal Financial Services have revised their target price for RIL down by over 3% to ₹1,655, citing the need for sustained growth in retail and potential tariff hikes as key factors influencing the stock's performance. The stock was last traded at ₹1,327.7, reflecting a 1.2% decrease from the previous day. Looking ahead, RIL's new energy initiatives, including a 40 GWh GIGA factory expected to begin operations this year, may contribute positively to revenue by FY30.