Reliance Industries Limited (RIL) held its 46th Annual General Meeting (AGM) on August 28, 2023. The company's chairman, Mukesh Ambani, made a number of major announcements, including:
- The appointment of his three children – Mukesh Ambani announced Isha, Akash, and Anant – as non-executive directors on the board of RIL.
- The company's continued growth and profitability, with revenues and profits up significantly from the previous year.
- The company's commitment to innovation and sustainability, with investments in new technologies such as 5G and renewable energy.
From #JioAirFiber to #CamaCola: Here are the top takeaways from #RIL's 46th AGM pic.twitter.com/B5afnrrtAi
— ET NOW (@ETNOWlive) August 28, 2023
The company plans to expand its retail, financial services, and energy businesses.
Here is a more detailed look at some of the key announcements made by Mukesh Ambani at the AGM:
Appointment of Isha, Akash, and Anant Ambani to the board of RIL: Ambani said that his children have been "actively involved" in the company's businesses for many years, and that they are "well-qualified" to take on the responsibilities of being non-executive directors.
Continued growth and profitability: Ambani said that RIL's revenues grew by 30% year-on-year to Rs. 260,364 crore in FY23, while profits grew by 25% to Rs. 9,181 crore. He attributed this growth to the company's strong performance across all its businesses.
Commitment to innovation and sustainability: Commitment to innovation and sustainability: Ambani said that his company is committed to investing in new technologies that will drive growth and sustainability.
Expansion plans: Ambani said that the company will be opening 25,000 new retail stores in the next five years and it will also launch new financial services products and services. He also said that RIL plans to invest heavily in renewable energy, with the goal of becoming a net-zero carbon emitter by 2035.
Jio AirFibre: Reliance Industries Chairman Mukesh Ambani announced the launch of Jio AirFiber at the company's 46th Annual General Meeting (AGM) on August 28, 2023. It is a high-speed fibre-to-the-home (FTTH) broadband service that will offer speeds of up to 1 Gbps. It will be available in 1,000 cities across India by the end of 2023.
Ambani said that Jio AirFiber will be "the most affordable and best fibre broadband service in the world." He also said that Jio Fiber will offer a host of innovative features.
The AGM was a positive event for RIL, with Ambani highlighting the company's strong performance and its commitment to growth and sustainability.
The appointment of Isha, Akash, and Anant Ambani to the board of RIL is a sign of the company's confidence in the next generation of the Ambani family, and it is likely that they will play a significant role in the company's future.
READ| Reliance AGM 2023 LIVE: What will Mukesh Ambani announce today?
Comments
All Comments (0)
Join the conversation