Reliance Industries Ltd (RIL) commenced its 40th annual general meeting in Mumbai today.
“This year marks the 40th anniversary of our IPO. In just four phenomenal decades, Reliance has grown from a small start to one of the most admired companies in the world,” the company Chairman and Managing Director, Mukesh Ambani, said while addressing shareholders.
“No Indian corporate, and few global corporates have expanded in scale, scope and size,” he added.
“Our turnover has grown from Rs 70 crore in 1977 to over Rs 3,30,000 crore today, an increase of nearly 4,700 times. Our total assets have increased from Rs 33 crore to over Rs 7,00,000 crore and a multiple of over 20,000 times,” he added.
“Above all, market capitalisation has multiplied from Rs 10 crore to over Rs 5 lakh crore,” Ambani said, adding, “in simple terms, this means that your (investors’) money has doubled every two-and-a-half years over the past 40 years,” he said.
@reliancejio will cover 99% of India's population in 12 months: Mukesh Ambani on ramping up 4G network @reliancegroup AGM | @businessline
— Tanya Thomas (@tanyakondody) July 21, 2017
Ambani announces the "Jio phone", @reliancejio 's improved feature phone. Crowd at AGM goes wild | @businessline
— Tanya Thomas (@tanyakondody) July 21, 2017
Ambani announces the "Jio phone", @reliancejio 's improved feature phone. Crowd at AGM goes wild | @businessline
— Tanya Thomas (@tanyakondody) July 21, 2017
Jio phone supports 22 major Indian languages; responds to voice commands; Ambani's kids on stage, demo-ing the phone | @businessline
— Tanya Thomas (@tanyakondody) July 21, 2017
@reliancejio feature phone users: Free voice, SMS, unlimited 4G data, Jio apps for Rs 153/month from Aug 15 | @businessline#RelianceAGM
— Tanya Thomas (@tanyakondody) July 21, 2017