RIL AGM 2023: Reliance Industries Limited (RIL) has begun its 46th Annual General Meeting 2023 on Monday. While addressing the shareholders, RIL Chairman Mukesh Ambani said that Reliance Industries has cumulatively invested more than $150 billion in the last 10 years. Further, he added that RIL has also set new records in creating employment and has added 2.6 lakh jobs in FY23. “Reliance set new records in creating employment for Indians with the addition of 2.6 lakh jobs across all our businesses during the year. The total number of our on-roll employees is nearly 3.9 lakh. The number of indirect livelihood opportunities we have created is many times larger,” said Mukesh Ambani.
Speaking at the annual general meeting, he said, “This is a new India full of self-confidence. India will become a fully developed nation by 2047.” He further added that new Reliance has been a forerunner of the emerging new India. “We have set seemingly impossible goals and achieved them. This is comparable to leading businesses across the world,” said Chairman Mukesh Ambani.
RIL posted a consolidated revenue of Rs 9,74,864 crore during FY23, with EBITDA at Rs 1,53,920 crore and net profit at Rs 73,670 crore.
While talking about Jio, he said, “Jio has been the main catalyst of New India’s spectacular digital transformation.” Reliance, at the event, also announced that its Jio AirFiber will be launched on the occasion of Ganesh Chaturthi on September 19. Mukesh Ambani’s vision for the future of Jio includes: 1) The consumer segment, powered by Jio 5G and Jio Bharat; 2) The home segment, turbo charged by Jio AirFiber; 3) The Business segment, with its large untapped potential; and 4) Jio Platform’s opportunity for global expansion.
“We are in a position to move our 4G customers seamlessly to 5G without incurring additional capital expenditure. Jio has transformed from implementers to creators of cutting-edge new technology. Today’s Jio’s 5G rollout is powered by its own, homegrown 5G stack,” he said.
Further, talking about Reliance Retail, Mukesh Ambani said that the valuation of Reliance Retail has almost doubled in less than 3 years, notwithstanding the intervening Covid-19 pandemic. “Based on this valuation, Reliance Retail would have ranked among Top 4 companies in India and Top 10 retailers globally,” he said. Reliance Retail valuation has doubled to Rs 8.28 lakh crore from Rs 4.28 lakh crore in September 2020.