Mukesh Ambani took over as the Chairman and Managing Director of Reliance Industries Limited (RIL) after the demise of his father and Reliance founder, Dhirubhai Ambani on July 6, 2002.
In 2022, he completes two decades at the helm of Reliance Industries. In these 20 years, the company has achieved a consistent strong double-digit growth across revenues, profits, net worth, assets as well as market capitalisation.
Reliance’s market capitalization grew at an annualized rate of 20.6 per cent in last 20 years from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022.
Reliance’s revenues grew at an annualized rate of 15.4 per cent from Rs 45,411 crore in FY 2001-02 to Rs 792,756 crore in FY 2021-22.
Reliance’s net profit grew at an annualized rate of 16.3 per cent from Rs 3,280 crore in FY 2001-02 to Rs 67,845 crore in FY 2021-22.
Reliance’s exports grew at an annualized rate of 16.9 per cent from Rs 11,200 crore in FY 2001-02 to Rs 254,970 crore in FY 2021-22.
Reliance’s total assets grew at an annualized rate of 18.7 per cent from Rs 48,987 crore in March 2002 to Rs 14,99,665 crore in March 2022.
Reliance’s net worth grew at an annualized rate of 17.0 per cent from Rs 27,977 crore in March 2002 to Rs 645,127 crore in March 2022.
Reliance added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year.
Reliance started several new businesses in these two decades. Reliance Jio started operations in 2016, Reliance Retail started operations in 2006, Reliance’s E&P business made the first hydrocarbon discovery in late 2002 and production started in 2009.
Reliance’s traditional businesses of refining and petrochemicals too flourished and expanded many-fold in last two decades.
In 2002, Reliance had a single refinery at Jamnagar. A second 100 per cent EOU refinery was set up by 2009 nearly doubling RIL’s refining capacity with unique capability to convert the worst of crudes into the best of exportable fuels. With this, Jamnagar became world’s largest single location refining complex.
The J3 expansion over 2012 to 2016 added some of world’s largest and most unique downstream units. For example, Reliance set up world’s largest Refinery Off-Gas Cracker at Jamnagar. It also added world’s largest petcoke gasification unit. It also set up world’s first-ever virtual pipeline across the world to import ethane from the US to diversify feedstock.
Reliance Foundation, backed by Reliance Industries, came up in 2010 to spearhead the company’s philanthropic initiatives under the leadership of Nita Ambani. Reliance Foundation has touched the lives of more than 6.3 crore people in India through its various initiatives like rural empowerment, nutrition security, ecological conservation, education, and sports until 2022.
Reliance Foundation is India’s biggest corporate social responsibility initiative by reach, as well as by spend.
After the launch of Jio, India became the data capital of the world and the cost of data/GB fell from Rs.500 to Rs 12. India’s ranking in Broadband data consumption moved from 150 in 2016 to No.1 in 2018 thanks to Jio.
Thanks to Reliance Retail, today residents of Tier II and III towns in India have access to similar shopping experience that is enjoyed by those living in the metro cities.
Indians had to travel to Dubai or Singapore to shop global brands like Armani, Gas, Diesel etc. Now Reliance Retail has brought them all to India through partnerships.
India now has a world-class convention centre in Mumbai, with the world’s best infrastructure for international exhibits, conventions and meetings. The Jio World Centre will host the International Olympic Committee’s next session in 2023.
Reliance Industries set the foundation for New Energy Business committing over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world’s latest technology. This will have first-of-its-kind ‘quartz-to-module’ solar panel facility. The ultimate aim is to emerge world’s lowest cost producer of solar energy and green hydrogen.
Reliance has set a target to become Net Carbon Neutral by 2035, contributing to India’s net carbon zero mission. Reliance will start 10GW of solar PV cell and module factory by 2024, to be scaled up to 20GW by 2026. By 2025, RIL plans to generate its entire round-the-clock (RTC) power and intermittent energy for Green Hydrogen from captive solar power plants.
Reliance set a record of capital fund raising during the most difficult period of Covid lockdowns in 2020-21. It raised more than Rs 2.5 lakh crore through Rights Issue, and minority stake sale in Jio Platform and Reliance Retail Ventures to global marquee investors.
During FY2021, Reliance was the single-largest FDI generator for India.
Reliance is leading India’s Sustainability solutions in the petchem and polyester sector. It is actively supporting India’s textile value chain in adopting sustainable, circularity concepts
Reliance Industries brought bp, one of the global petroleum industry leaders, as a partner in its Indian fuel retailing business.
Reliance Mobility Solutions has brought latest technology and offerings for consumers at petro-retail outlets through the Jio-bp brand. It aims to offer new experience in buying fuel with high quality service, and making the retail outlets future-ready with charging and battery swap facilities.