New Delhi [India], May 28 (ANI): Reliance Industries Ltd (RIL) said it secured multiple landmark overseas financing deals in FY26, including the largest Samurai loan raised by an Indian corporate, while Chairman and Managing Director Mukesh Ambani continued to forgo salary for the sixth consecutive year despite the company posting record profits.

According to RIL's Integrated Annual Report 2025-26, S&P Global Ratings upgraded the company's international debt rating from BBB+ to A- in December 2025, reflecting the 'rising contribution from less cyclical, consumer-facing businesses resulting in improved earnings stability.'

'The rating upgrade will provide RIL access to new pools of capital at finer spreads,' the company said in the annual report.

The report said FY2025-26 unfolded amid 'heightened market fluctuations' driven by tariff uncertainty, geopolitical tensions and volatility in currency and bond markets, but Reliance was still able to raise financing 'across currencies and products at competitive cost for long tenors.'

Among the key transactions, Reliance tied up a JPY 91.9 billion, or around USD 625 million equivalent, Samurai loan.

'This was the largest Samurai loan ever by an Indian corporate and the third-largest ever by an Asian corporate,' the company said.

The annual report also highlighted two export credit agency-backed financing transactions that were firsts of their kind globally.

RIL said it secured around USD 500 million equivalent Korea Trade Insurance Corporation (KSURE)-supported untied facilities to finance capital expenditure.

'This is KSURE's first untied facility for any corporate globally,' the report stated.

In another transaction, Reliance tied up around USD 600 million equivalent Nippon Export and Investment Insurance (NEXI)-supported untied facilities linked to its solar photovoltaic and battery gigafactories.

'This is NEXI's first untied facility for any corporate globally. The facility has the longest average tenor for any Export Credit Agency supported facility globally,' the company said.

The company said its liquidity strategy focuses on maintaining 'a strong cash reserve' and sufficient undrawn credit lines to manage market volatility and funding requirements.

RIL's financial performance during FY26 remained strong, with consolidated revenue rising 9.8 per cent year-on-year to Rs 11,75,919 crore, while net profit increased 17.8 per cent to Rs 95,754 crore.

'RIL has become the first Indian company to cross $10 billion in annual net profit,' Mukesh Ambani said in his message to shareholders in the annual report.

The report added that Reliance continued to fund its expansion plans 'through strong internal accruals while maintaining a robust balance sheet.'

As of March 31, 2026, the company's gross debt stood at Rs 3,74,421 crore, while net debt stood at Rs 1,24,717 crore. The debt-to-equity ratio remained at 0.41:1.

Alongside the financing milestones, the annual report showed that Mukesh Ambani continued to draw nil remuneration from the company for the sixth straight year from FY2020-21 to FY2025-26.

According to the disclosure, Ambani received 'Nil remuneration from the company. This means no salary, no allowances, no perquisites, no retiral benefits, no commission, and no stock options for six years running.'

The company said Ambani had voluntarily decided to forgo his remuneration in June 2020 during the Covid-19 pandemic and had continued the decision thereafter.

Reliance also noted that before the pandemic, Ambani had voluntarily capped his remuneration at Rs 15 crore annually since FY2008-09 for 12 consecutive years despite the company's growth in revenue and profitability. (ANI)