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RIL AGM LIVE: Expect Saudi Aramco partnership to be formalised this year, says Mukesh Ambani – Mint

Shares of Reliance Industries fell more than 1% on Thursday. The stock was trading at around 2,173 per share on the BSE.

LIVE updates of RIL’s 44th AGM:

With these new initiatives, Reliance will put Gujarat and India on world solar and hydrogen map. All our products will proudly proclaim ‘Made in India, by India, for India and for the world’: Mukesh Ambani

-We will build two additional divisions to further strengthen this ecosystem. First, a dedicated Renewable Energy Project Management and Construction Division. Second, a dedicated Renewable Energy Project Finance Division: Mukesh Ambani

Reliance will thus create and offer a fully integrated, end-to-end renewables energy eco-system. Over the next 3 years we will invest over 60,000 crore in these initiatives: Mukesh Ambani

-Developing Dhirubhai Ambani Green Energy Giga Complex in Jamnagar

”We have started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar. It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” Mukesh Ambani

-Yasir Al-Rumayyan to join RIL’s Board as independent director.

”I welcome H.E. Yasir Al-Rumayyan, Chairman of Saudi Aramco and Governor of PIF, to join the Board of Reliance Industries as Independent Director. His joining our Board is also the beginning of internationalisation of Reliance, ” says Mukesh Ambani

Continued engagement and resolve from both sides, even during this pandemic, is a testimony of strong relationship between Saudi Aramco and Reliance. I expect our partnership to be formalised in an expeditious manner this year: Mukesh Ambani

Our O2C biz faced unprecedented challenges by severe economic contraction at the beginning of year. Yet we were probably the only company globally that operated at near full capacity and was profitable in every quarter: Mukesh Ambani

-Talking about the telecom business, Ambani says that Reliance Jio had net addition of 37.9 million subscribers during the year. ”We now serve over 425 million consumers on our network. We have revenue market leadership in 19 out of 22 circles.”

RIL raised $44.4 billion, largest ever capital raise by any company in a year globally. This capital raise is a strong vote of confidence by global investors in India’s growth potential: Mukesh Ambani

Mukesh Ambani says that even in a challenging environment, RIL’s performance continued to be outstanding. The company’s consolidated revenue was at 540,000 cr, consolidated EBITDA was around 98,000 cr, and almost 50% of EBITDA was contributed by consumer businesses

RIL’s Mission Vaccine Suraksha is one of India’s largest corporate vaccination drives, to vaccinate 20 lakh of our Family, including retired employees, partner company employees, and their families free of cost: Nita Ambani

-Assured no salary, bonus cuts due to Covid, says Nita Ambani

Reliance Foundation launched five Missions to fight COVID – Mission Oxygen, Mission COVID Infra, Mission Anna Seva, Mission Employee Care, and Mission Vaccine Suraksha: Nita Ambani

-Nita Ambani says Reliance procured 100 oxygen tankers from within India and abroad

Reliance Foundation also partnered with USAID to launch the Women Connect India Challenge this year. A partnership that aims to empower more and more Indian women with digital access and opportunity: Nita Ambani

Jio Institute to commence session this year, says Nita Ambani

-Despite the pandemic, I am pleased to announce that Jio Institute is all set to commence academic sessions at their campus in Navi Mumbai this year itself: Nita Ambani

-We remained committed to Education and Sport for All. We also worked hard to bring our dream project – Jio Institute – to life: Nita Ambani

-Mukesh Ambani says the company’s business performance has exceeded expectations despite the covid-19 pandemic

-We are in the midst of a humanitarian crisis: Ambani

-Have taken all possible steps so shareholders can participate in today’s virtual meet: Mukesh Ambani

-Chairman Mukesh Ambani begins virtual address to investors and stakeholders at RIL’s 44th AGM.

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