Connect with us

Hi, what are you looking for?

Business

Reliance Industries chairman Mukesh Ambani addresses meet

44th AGM of RIL: Reliance Industries

44th AGM of RIL: Reliance Industries raised $44.4 billion, the largest-ever capital raised by any company in a year globally, says Mukesh Ambani

44th AGM of RIL: Reliance Industries' contribution to Indian economy remains unmatched, says Mukesh Ambani

Chairman of Reliance Industries Mukesh Ambani. Reuters

Reliance Industries Limited chairman Mukesh Ambani while addressing the 44th AGM of the company on Thursday said that even in a challenging environment, the company’s performance continued to be outstanding.

“Consolidated revenue was Rs 5,40,000 crore, consolidated EBITDA was Rs 98,000 crore, and almost 50 percent of EBITDA was contributed by consumer businesses. As India’s largest enterprise, RIL’s contribution to the Indian economy remains unmatched – 6.8 percent of India’s merchandise exports, 75,000 new jobs, Rs 21,044 crore of customs and excise, Rs 85,306 crore of GST and VAT, and Rs 3,213 crore of income tax,” Ambani said.

“RIL raised $44.4 billion, the largest-ever capital raised by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India’s growth potential,” he said.

The RIL chairman also said that the shareholders were rewarded with the largest and the most successful rights issue ever by an Indian company.

“Our retail shareholders have made 4X returns in just one year on their rights shares,” Ambani said.

Click here to find out how to watch the 4th Reliance AGM

While highlighting the performance of Reliance Jio, the RIL chairman said on the net addition of 37.9 million subscribers during the year. “We now serve over 425 million consumers on our network. We have revenue market leadership in 19 out of 22 circles,” Ambani said.

On the retail front, the RIL chairman said, “Reliance Retail continues to be the undisputed leader in organised retailing in the country, with a scale that is more than six times the next competitor.”

“We are by far the leader in each category — grocery, electronics and apparel,” Ambani said.

At the Reliance AGM, Ambani also revealed Jio’s partnership with Google to develop an ‘ultra-affordable 4G smartphone’ has resulted in the creation of a new device named the JioPhone Next.

On the energy front, the RIL chairman unveiled Reliances’ mega plan to invest Rs 75,000 crore in the next three years to set up a solar manufacturing unit facility, a battery factory to store energy, a fuel cell-making factory and an electrolyser unit to produce green hydrogen as a part of the business.

Disclaimer: Network18 and TV18 – the companies that operate Firstpost – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

Technology

Cybercriminals Adopt the Blockchain to Broadcast confidential Messages A group of analysts from SophosLabs represents that programmers working the crypto-jacking malware, Glupteba, have been...

Technology

PUBG unban in India soon as PUBG Corp. Will The Government Of India Unban PUBG? PUBG Mobile was Ban in India, PUBG organization has...

Technology

A standard method to execute Bitcoin could be powerless against double-spending, the new examination has found. Blockchain sleuths at ZenGo, a wallet startup, have...

BlockChain News

HDD mining, also known as “storage mining”, is a process of obtaining cryptocurrency based on hard disk memory. Compared with traditional POW mining, hard...