Key Financial Highlights: The Consolidated Revenue Of Reliance Reaches ₹540,000 Crore
Reliance Industry Limited’s 44th annual general meeting is coming up on Thursday. Some major announcements are expected during the meeting. It will be held virtually for the second time because of the pandemic due to coronavirus.
The meeting started with the managing director and chairman, Mukesh Ambani, who welcomed all the stakeholders and asked to remain silent for two minutes for the stakeholders and employees who have lost their lives because of a deadly virus.
It was highlighted at the time of the meeting that despite the challenging environment because of coronavirus, Reliance has managed to gain profit in every industry. Ambani added, “Even in such a situation, RIL’s performance continued to be the best.”
Take a look at the financials of Reliance
The chairman promised two years ago of achieving a net debt-free balance sheet much ahead of its target date which was March 2021, and it’s achieved.
The consolidated revenue of the RIL with the amount of ₹540,000 crore, with consolidated EBITDA, was ₹98,000 crore and about 50 percent of the EBITDA was contributed to consumers, Ambani noted by adding that most of the business of Reliance is a decade old, while Jio is only five years old.
The chairman added that being the largest company in India, the contribution of RIL to the economy is still unmatched as the enterprise makes about 6.9 percent of the merchandise exports of the country. Ambani said Reliance gives the contribution to create 78,000 new jobs and employment opportunities on a large scale which are the need of an hour for the country. Reliance’s customs of ₹21,044 crore, VAT and GST of ₹85,306 crore, and income tax of ₹3,213 crore has been pain, which is also the largest in India.
Globally, Reliance Foundation even raised the largest capital which is not seen anywhere else. A whopping cost of $44.4 billion has been raised only in a year. The director said, “The raise of capital is a strong vote of confidence by worldwide investors in the potential of growing India.”
Reliance also gave the largest and most successful rights issued by the Indian company. Only in a year, the retail shareholders of the enterprise made a return four times on their shares.
Talking about Reliance Jio, Ambani informed at the time of the meeting that the business has got the success and added about 38 million subscribers in a year. Jio has now more than 450 million consumers with the revenue market in the circle of 19 to 22. In today’s date, Jio is the second-largest mobile data carrier, which also leads to a growth of 45 percent in data consumption in a year.
The largest retail chain, Reliance Retail continues to be the undisputed leader in the world of retailing. Ambani added it is more than seven times the next competitor in the market. “We are till now the best leader in each category – electronics, grocery, and clothing,” Ambani said.
Not only this, the MD and chairman of Reliance also spoke about partnering with Saudi Aramco for the new O2C business.