Insights from Reliance AGM 2023: Significant Takeaways Shared by RIL Chairman, Mukesh Ambani
Mukesh Ambani, Reliance’s Chairman, radiated positivity at the 46th Annual General Meeting, unveiling bold aspirations for India’s trajectory. Highlighting newfound Indian confidence and Reliance’s role, Ambani underscored achievements. FY23 saw Reliance Industries with ₹9,74,864 crore revenues, ₹1,53,920 crore EBITDA, ₹73,670 crore net profit, and 2.6 lakh jobs created.
The board proposed Isha, Akash, Anant Ambani as Non-Executive Directors, awaiting shareholder nod. Nita Ambani’s Board exit aligns with focusing on Reliance Foundation.
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Ambani commits to five more years as Chairman, sharing AGM highlights:
- Reliance Jio’s 5G nationwide by December, owning 85% operational 5G cells, averaging 25 GB monthly. Jio’s network: nearly 1 million 5G cells by December.
2.Jio AirFibre launches on September 19.
3.Jio Smart Home reshapes home management, leveraging indoor data trend. Akash Ambani introduced it.
4.Reliance Retail: 100 crore transactions, 78 crore footfalls, 25 crore customers in FY23, 30% of India’s potential audience.
5.Priority: battery Giga factory by 2026, spanning chemicals, cells, packs, storage, recycling. Ambani commits to battery tech.
6.Mukesh Ambani urges AI potential for innovation, prosperity. RIL builds AI expertise, crafting India-specific solutions via Jio platforms.