After his father, Dhirubhai Ambani, the founder of Reliance Industries, passed away on July 6, 2002, Mukesh Ambani succeeded him as the chairman and managing director of Reliance Industries Limited. Let’s look at his journey over the past two decades.
On Wednesday, Mukesh Ambani celebrated 20 years as the CEO of Reliance Industries Limited. After his father, Dhirubhai Ambani, the founder of Reliance Industries, passed away on July 6, 2002, Mukesh Ambani succeeded him as the chairman and managing director of Reliance Industries Limited. Let’s look at his journey over the past two decades.
Reliance’s market capitalization increased from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022 at a yearly rate of 20.6%.
Reliance’s revenues increased from Rs 45,411 crore in FY 2001-02 to Rs 792,756 crore in FY 2021-22 at an annualised rate of 15.4%.
From Rs 48,987 crore in March 2002 to Rs 14,99,665 crore in March 2022, Reliance’s total assets increased at an annualised rate of 18.7%.
From Rs 27,977 crore in March 2002 to Rs 645,127 crore in March 2022, Reliance’s net worth increased at a yearly rate of 17.0%.
Reliance has increased investor wealth by Rs 17.4 lakh crore over the past 20 years. That amounts to Rs 87,000 crore annually on average.
Reliance launched a number of new enterprises over the past 20 years, including Reliance Jio in 2016 and Reliance Retail in 2006.
Reliance only operated one refinery in Jamnagar in 2002. After a second 100% EOU refinery was built in Jamnagar in 2009, the complex grew to be the largest single-location refining complex in the world. The facility roughly increased RIL’s capacity for refining. It also has the exceptional ability to transform the worst crudes into the best exportable fuels.
The largest CSR effort in India, both in terms of money and impact, is the Reliance Foundation. Reliance Foundation, supported by RIL, was established in 2010 to carry out the charitable endeavours of the business under Nita Ambani’s direction. Through numerous programmes like education, rural emancipation, sports, nutrition security, and ecological conservation, the foundation will have a positive influence on more than 6.3 crore people in India by 2022.
With the debut of Jio, India became the world’s data capital, and the price per GB of data dropped from Rs 500 to Rs 12. Additionally, India’s position in terms of broadband data consumption increased from 150 in 2016 to 1 in 2018.
In Mumbai’s Jio World Centre, India now has access to a top-notch convention facility. In fact, the Jio World Centre will host the next meeting of the International Olympic Committee in 2023.
Reliance Industries has committed over Rs 75,000 crore in investment over three years to construct up five completely integrated Giga Factories at Jamnagar with the most cutting-edge technology, laying the groundwork for the New Energy Business. The major objective was to become the most affordable solar and green hydrogen energy producer in the world.
During the lockdowns brought on by COVID in 2020–2021, Reliance broke its own capital-raising record. Through a rights issue and the sale of minority stakes in Reliance Retail Ventures and Jio Platform to renowned international investors, it raised more than Rs 2.5 lakh crore. For India in FY2021, Reliance was the single-largest source of FDI.