Reliance Industries Ltd is set to hold its 47th annual general meeting today, with expectations of significant announcements. The meeting is highly anticipated by stakeholders and the broader market.
The AGM will commence with an address by RIL Chairman Mukesh Ambani, starting at 2 pm. Following his speech, there will be presentations and addresses from other board members.
The event will be broadcast live across multiple platforms. Analysts are particularly keen on potential announcements regarding the possible listings of RIL’s digital and retail divisions.
Reliance Industries will consider a 1:1 bonus share issuance at its September 5 board meeting, rewarding shareholders amid strong financial growth.
Mukesh Ambani proudly stated, “Last year, Reliance filed more than 2,555 patents, primarily focused on innovations in bio-energy, solar and other green energy sources, and high-value chemicals.”
Mukesh Ambani also expressed confidence, saying, “I can see Reliance securing a spot among the top 30 most valuable companies globally in the near future.”
Mukesh Ambani stated, “Jio is one of India’s largest patent holders, with more than 350 patents in 5G and 6G technologies. These patents are crucial for ensuring Jio’s leadership in global innovation.”
He also mentioned, “Jio has transformed India from being 5G-dark to 5G-bright, building one of the world’s most advanced 5G networks. Jio True 5G has seen the fastest adoption rate worldwide, with over 130 million customers embracing it in just two years.”
Mukesh Ambani stated, “Jio has revolutionized India’s transition from being 5G-dark to becoming 5G-bright, establishing one of the most advanced 5G networks globally. Jio True 5G has also set a record with the fastest adoption rate worldwide, with over 130 million customers embracing it within just two years.”
He further added, “We acquired our next 1 million air fibre customers in just 100 days. Now, we’re pushing ourselves to add a million homes every 30 days. With this pace, we are confident of achieving our target of 100 million home broadband customers in record time. We are also aiming to connect over 20 million small and medium businesses, empowering them with the connectivity needed to thrive in today’s digital era.”
Mukesh Ambani stated, “We are on track to fulfill our promise. At Jio, we’ve always been leaders in adopting cutting-edge technologies to achieve faster scaling, greater efficiency, and superior customer service. Now, AI has become central to everything we do. We’ve quickly expanded our talent and capabilities, embracing the latest in Generative AI. We’re integrating AI into all our processes and offerings, creating end-to-end workflows powered by real-time, data-driven insights and automation. This is enabling us to provide smarter, more responsive services to both internal users and customers. To facilitate AI adoption, Jio is developing a comprehensive suite of tools and platforms covering the entire AI lifecycle, which we call Jio Brain.”
Mukesh Ambani announces the ‘Jio AI-Cloud Welcome Offer,’ stating, “We’re excited to introduce the Jio AI-Cloud Welcome Offer, providing Jio users with up to 100 GB of free cloud storage. This will allow them to securely store and access all their photos, videos, documents, and other digital content and data. The offer is set to launch around Diwali this year, offering a powerful and affordable solution where cloud storage and AI-powered services are accessible to everyone, everywhere.”
Mukesh Ambani announced that the media business has surpassed Rs10,000 crore in revenue. He highlighted that Viacom18, their entertainment division, performed even better, with a remarkable 62% growth driven by the Sports segment. JioCinema, according to Ambani, is transforming digital Sports and Entertainment and has achieved significant milestones in a short period. The second season of IPL on JioCinema was a massive success, reaching 62 crore Indians—a 38% increase from the previous season—with total viewership growing by 50%. This made it the most-watched livestream event globally. This success also extended to the Olympics.
The O2C business generated revenues of Rs 5,64,749 crore,” reports Mukesh Ambani. “Despite geopolitical conflicts and weak economic growth in the West, which led to lower demand and fluctuating margins due to surplus capacity, especially from China, Reliance managed to achieve industry-leading performance.
“We acted quickly to manage rising freight costs caused by geopolitical tensions and missile attacks in the Red Sea by securing long-term vessel charters,” states Mukesh Ambani.
“Reliance is constructing India’s first world-class integrated Carbon Fibre plant at Hazira, set to be among the top three globally,” announces Mukesh Ambani.
“By the end of this year, we will start producing our own solar photovoltaic modules, with an initial capacity of 10 GW,” says Mukesh Ambani.
“We are building an advanced chemistry-based battery manufacturing facility at Jamnagar, with production slated to begin in the second half of next year,” says Mukesh Ambani.
Mukesh Ambani announced that work has commenced on a fully automated, multi-gigawatt electrolyser manufacturing facility on India’s west coast, set to be operational by 2026. This giga-factory, built to Industry 4.0 standards, will be adaptable to various technologies, including Alkaline, PEM, and AEM, and will be expandable to meet market demand.
Ambani also highlighted Jamnagar’s role in the company’s New Energy business, stating that by 2025, it will become the cradle of this initiative. The Dhirubhai Ambani Green Energy Giga Manufacturing Complex in Jamnagar will be the world’s largest and most modern integrated ecosystem at a single location. Reliance is on track to invest up to ₹75,000 crore in this ecosystem, leveraging emerging technologies like AI, IoT, Machine Learning, and Robotics to maximize margins through complete ownership and automation of the value chains.
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