Reliance AGM: Full Text Of Mukesh Ambani’s Speech To Shareholders

Reliance Industries Ltd. Chairman Mukesh Ambani today took the spotlight for his address to shareholders at the 44th annual general meeting.

From updates on the Saudi Aramco deal, to the roadmap for a green transition and a new JioPhone, Ambani made a slew of announcements.

Here is the full text of his address to shareholders on business updates....

Dear Shareowners,

I am happy to report that even in a challenging environment, your company’s performance continued to be outstanding. Our consolidated revenue was nearly Rs 540,000 crore, with a sharp increase from our consumer businesses. Our consolidated Ebitda was nearly Rs 98,000 crore, and almost 50% of the Ebitda was contributed by consumer businesses.

One of these consumer businesses, retail, is only about a decade old. The other business, Jio, is only five years old. Our net profit for the year was Rs 53,739 crore, higher by 34.8% compared to the previous year. Despite the pandemic, we increased our dividends this year. Dear Friends, as India’s largest business enterprise, Reliance’s contribution to the Indian economy continues to remain unmatched. At Rs 1,45,143 crore ($ 19.9 billion), we continue to be India’s largest exporter accounting for 6.8% of India’s total merchandise exports across 107 countries. Even in this challenging environment, Reliance added nearly 75,000 new jobs in the past year.

We’re committed to creating and enabling large-scale employment opportunities, which is one of India’s most urgent national tasks. We continue to be India’s highest payer of customs and excise duty in the private sector with pa