On 29 August 2022, Reliance Industries conducted its 45th Annual General Meeting. Important financials are as under Reliance reported a consolidated revenue of ₹7.92 Lakh Cr, crossing $1Billion revenue mark & a 47% YoY growth in consolidated revenue while profits stood at ₹ 67,846 Cr with. YoY growth of 26.2%. The revenues distribution stood as follows – O2C (Oil to Chemical) stood at 56.8%, Retail at 22.7%, Telecom and Digital Services at 11.4%. Some of the important announcement that the group made - Leadership Change - Last year, Mr Mukesh Ambani stepped down from Jio & handed over the role to his son Akash Ambani. For the first time, the group has given a clear idea of the transfer of leadership to next generations. The group has said, Isha Ambani & Akash Ambani have taken up leadership roles in Telecom & Retail Business while Anant Ambani is being Groomed for heading Energy. 5G Roll out - Reliance Jio has announced that it would be rolling out Standalone 5G networks. This would mean that the existing 4G networks are going to be in utilising for sometime. The company aims to start the rollout by Diwali 2022 in major cities like Mumbai, Delhi, Chennai etc. while subsequently covering talukas by 2023 end. Jio has outlawed ₹2 Lakh Cr for investments in the development & deployment of 5G networks. Reliance has also announced its partnership with Qualcomm to develop 5G solutions. Plans for Moving from Grey Hydrogen to Green Hydrogen by 2025. ₹60,000 Cr investment in 4 gigafactory and linking of critical business processes. ₹15000 as infuser in value chains, future technologies and processes. Reliance has targeted to achieve green hydrogen at $1/kg target by the end of the decade. Petrochemical – An outlay or ₹75,000 Cr has been announced. This will majorly be alloted for infrastructure and capacity building. RIL plans to set up a PTA unit, expanding of Polymer capacity & tripling of vinyl capacity. RIL has also announced its expansion into UAE by setting up of a Petro Chemical unit. The revenues from O2C business crossed $1Bn dollar, the business from the vertical is has crossed 9 times. MJ Field (planned to commissioned by 2022 end), KG-D6 will contribute to ~30% of India’s total gas production. EBITDA from O2C crossed 50,000 Cr. Thank you.
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