RIL AGM 2023: Celebrating a Decade of Corporate Excellence
In a remarkable revelation, Reliance Industries Chairman Mukesh Ambani shared the astounding journey of Reliance Industries Limited (RIL) during its 46th annual general meeting held on August 28, 2023. This prestigious event marked not only the acknowledgment of the past year’s accomplishments but also a reflection on the grand achievements of the past decade.
Cumulative Investments Surpass $150 Billion Mark
Chairman Ambani proudly announced that RIL has invested an awe-inspiring sum of over $150 billion over the last ten years. This financial dedication to growth and innovation has solidified RIL’s position as a prominent corporate entity not only in India but on the global stage.
A Record-Breaking Net Profit
During the fiscal year 2022-23, Reliance Industries achieved a remarkable net profit of Rs 73,670 crore. This outstanding performance has not only set a new benchmark for RIL but has also reaffirmed its financial prowess in the market.
“I am delighted to report yet another all-round steller performance. RIL’s consolidated revenues stood at Rs 9,74,864 crore, its Ebitda in FY23 was Rs 1,53,920 crore and net profit was Rs 73,670 crore,”
Mukesh Ambani, Chairman of Reliance Industries
Strong Financial Performance
RIL’s financial accomplishments in the last fiscal year were indeed commendable. The company’s consolidated revenues impressively reached Rs 9,74,864 crore, demonstrating its consistent growth trajectory. Additionally, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for FY23 amounted to Rs 1,53,920 crore, underscoring RIL’s financial resilience and operational efficiency.
Contributions to India’s Exports and Economy
Reliance Industries significantly bolstered India’s export figures, marking a 33.4% surge to reach Rs 3.4 lakh crore in exports for the year. Notably, RIL’s contribution to India’s merchandise exports rose to over 9.3%, up from 8.4% the previous year, illustrating its integral role in the country’s economic landscape.
In addition, RIL’s contributions extended to the National Exchequer, with a substantial sum of Rs 1,77,173 crore during FY23. This included an impressive increase in both direct and indirect tax payments, which surpassed Rs 16,639 crore.
Commitment to Corporate Social Responsibility (CSR)
Reflecting its dedication to giving back to society, Reliance Industries took the lead in corporate social responsibility spending by allocating Rs 1,271 crore. This noteworthy commitment underscores RIL’s ethos of being a responsible corporate citizen, ensuring its positive impact on various social and community initiatives.
Highlighting the Listing of Jio Financial Services
The RIL AGM took place shortly after the listing of Jio Financial Services, previously recognized as Reliance Strategic Investment. This strategic move signifies RIL’s continuous drive for expansion and diversification, further solidifying its position as a multifaceted business conglomerate.
Reliance Industries’ 46th annual general meeting celebrated a decade of remarkable achievements that have not only propelled the company’s growth but have also contributed significantly to India’s economy and global standing. Chairman Mukesh Ambani’s insights shed light on the exceptional financial performance, noteworthy contributions to exports, and unwavering commitment to corporate responsibility. With a visionary outlook and a legacy of excellence, RIL continues to redefine the corporate landscape in India and beyond.