Mukesh Ambani completes 20 years at helm of Reliance Industries
Mukesh Ambani took over as the chairman and managing director of Reliance Industries Limited after the demise of his father and Reliance founder Dhirubhai Ambani on July 6, 2002. Let us take a look at his two-decade-old journey.
FollowMukesh Ambani on Wednesday completed 20 years at the helm of Reliance Industries Limited. Mukesh Ambani took over as the chairman and managing director of Reliance Industries Limited after the demise of his father and Reliance founder Dhirubhai Ambani on July 6, 2002. Let us take a look at his two-decade-old journey.
* Reliance's market capitalization grew at an annualized rate of 20.6% from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022.
* Reliance's revenues grew at an annualized rate of 15.4% from Rs 45,411 crore in FY 2001-02 to Rs 792,756 crore in FY 2021-22.
* Reliance's total assets grew at an annualized rate of 18.7% to Rs 14,99,665 crore in March 2022 from Rs 48,987 crore in March 2002.
* Reliance's net worth grew at an annualized rate of 17.0% to Rs 645,127 crore in March 2022 from Rs 27,977 crore in March 2002.
* In the last two decades, Reliance added Rs 17.4 lakh crore to investor wealth. That is an average of Rs 87,000 crore every year.
* In the last two decades, Reliance started several new businesses, including Reliance Jio in 2016 and Reliance Retail in 2006.
* In 2002, Reliance had a single refinery at Jamnagar. Jamnagar became the world's largest single-location refining complex after a second 100 per cent EOU refinery was set up in 2009. The plant nearly doubled RIL's refining capacity. It also had the unique capability of being able to convert the worst of crudes into the best of exportable fuels.
* Reliance Foundation is India’s biggest corporate social responsibility initiative by reach as well as by spending. Backed by RIL, Reliance Foundation was formed in 2010 to take forward the company’s philanthropic initiatives under Nita Ambani's leadership. The foundation has impacted more than 6.3 crore people in India through multiple initiatives like education, rural empowerment, sports, nutrition security and ecological conservation until 2022.
* India became the data capital of the world after the launch of Jio, and the cost of data / GB fell from Rs 500 to Rs 12. India's ranking in Broadband data consumption also rose from 150 in 2016 to number 1 in 2018.
* India now has a world-class convention centre in Jio World Centre, Mumbai. In fact, the International Olympic Committee’s next session in 2023 will be hosted at the Jio World Centre.
* Setting the foundation for New Energy Business, Reliance Industries has committed over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world’s latest technology. Emerging as the world's lowest-cost producer of green hydrogen and solar energy was the main aim.
* During the COVID-induced lockdowns in 2020-21, Reliance set a record for capital fundraising. It raised more than Rs 2.5 lakh crore through Rights Issue and minority stake sales in Reliance Retail Ventures and Jio Platform to global marquee investors. Reliance was the single-largest FDI generator for India during FY2021.
Also Read:Â Google likely to fire 6 percent of employees in 2023 with poor performance rating: Report
Also Read:Â Viral Video: UP Police sub-inspector does not know how to load a gun; inserts bullet from the muzzle
