Mukesh Ambani, chairman and managing director of Reliance Industries Ltd (RIL), on Monday said the company has continued to make all-round progress across its businesses and it has become India’s first corporate to cross $100 billion in annual revenues. He also said Reliance’s consolidated revenues grew 47 per cent to Rs 7.93 lakh crore, or $104.6 billion in FY22.
Addressing RIL’s 45th AGM on Monday, Ambani said, “Reliance’s annual consolidated Ebitda crossed a crucial milestone of Rs 1.25 lakh crore. And, in true ‘We Care’ spirit, Reliance Foundation continued to benefit millions of people across the country.” Ebitda stands from earnings before interest, tax, depreciation and amortisation.
He also said Reliance also set a new record in creating jobs for Indians. It added 2.32 lakh jobs across businesses, with Reliance Retail becoming one of the largest employers in the country.
The RIL chairman added that Reliance has not only set higher benchmarks of serving the community but has also created business value and societal value on an unparalleled scale. Reliance’s exports grew a massive 75 per cent to cross Rs 2,50,000 crore.
“We accounted for nearly 8.4 per cent of India’s merchandise exports in the year, up from 6.8 per cent last year. During FY22, Reliance continued to be the largest taxpayer in India. Reliance’s contribution to the national exchequer by way of various direct and indirect taxes increased 38.8 per cent to Rs 1,88,012 crore,” Ambani said.
On the retail business, he said, “Let me congratulate the entire leadership team of Reliance Retail on achieving a record of `2 lakh crore turnover and
an Ebitda of Rs 12,000 crore. Today, Reliance Retail is among the Top-10 Retailers in Asia.”
Ambani said the company’s retail business served over 200 million registered customers, equivalent to the collective population of the UK, France and Italy, at Reliance Retail’s physical stores and digital
platforms.
“We welcomed 520 million walk-ins to our stores, a growth of 18 per cent y-o-y, and 4.5 billion visits to our digital platforms, up 2.3x YoY,” he added.
The company’s oil-to-chemical business crossed Rs 5 lakh crore in annual revenues. The Ebitda crossed Rs 50,000 crore. “We are committed to maximising oil-to-chemicals integration and convert our advantageous feedstock streams to high-value chemicals and green materials,” Ambani said.
“Over the next five years, we will invest Rs 75,000 crore and expand capacities in existing and new value chains,” he said.
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