Reliance AGM 2024: Reliance Industries Chairman Mukesh Ambani on Thursday addressed the shareholders at the RIL AGM 2024 and said Reliance is truly blessed to make humble but crucial contribution to India. He added that the all businesses continue to be key drivers of Indian economy. Mukesh Ambani said that the Reliance will be holding a board of directors meeting on September 5 to consider issuing bonus shares in the ratio of 1:1.
Mukesh Ambani added that Reliance is looking to add 100 million home broadband customers on JioAirFiber, while targeting 20 million small and medium businesses, 1.5 million schools and colleges, and 70,000 hospitals.
He said, “Reliance is truly blessed to make humble but crucial contribution to India. All our businesses continue to be key drivers of Indian economy. We are not in the business of pursuing short term profit and hoarding wealth. We are in the business of providing highest quality products and services that improve ease of living for Indian consumers.”
Reliance Chairman Mukesh Ambani added that the Reliance spent over Rs 3,643 crore in FY24 towards R&D, taking total spend on research to over Rs 11,000 crore in the last four years alone.
Key figures on Reliance’s financial performance
Consolidated turnover: Rs 10,00,122 crore
EBIDTA: Rs 1,78,677 crore
Net profit: Rs 79,020 crore
Exports: Rs 2,99,832 crore
Reliance Industries convened the 47th Annual General Meeting 2024 with RIL chairman Mukesh Ambani addressing the shareholders and sharing his vision for the publicly traded conglomerate’s businesses ranging from energy to entertainment.
Significantly, this meeting comes a day after the Competition Commission of India (CCI) approved a Rs 70,350-crore merger between Reliance and Walt Disney’s Indian media assets that is expected to transform the market dynamics for the media and entertainment sector in India.
