Reliance Retail will be our fastest growing business in revenues and EBITDA: RIL Chairman

RIL chairman Mukesh Ambani delivered the keynote address at the 46th AGM

Reliance Retail will emerge as the most rapidly expanding business and the greatest contributor in terms of revenue and EBITDA, said Mukesh Ambani, Chairman of Reliance Industries, at the company's 46th Annual General meeting on August 28.

“I am confident that as India grows from a $2,500 per-capita economy to a $10,000 per-capita economy, Reliance Retail will be our fastest growing business in revenues and EBITDA.” he added.

Reliance Retail stands as India's sole entry in the global Top 100 and ranks among the world's quickest expanding retailers. In FY23, Reliance Retail reported an annual revenue of Rs 2,60,364 crore, a 30 percent surge over the last year. The company achieved an EBITDA of Rs 17,928 crore and a net profit of Rs 9,181 crore for the same period.

In FY23, Reliance Retail marked significant achievements. The business recorded 100 crore transactions, a 42 percent year-on-year (YoY) growth and witnessed over 78 crore footfalls. The company has around 25 crore registered customers, serving over 30 percent of India's potential consumers, ranking us in the top-10 globally visited retailers.

Digital sales contributed Rs 50,000 crore, nearly 20 percent of total revenues. After investing $10 billion in two years, emphasising integration and brand growth, the company launched 3,300 new stores, totaling 18,040 and spanning 6.56 crore sq ft with two-thirds of these outlets in Tier II and III cities.

Reliance Retail covers over 90 percent of Indian households' daily needs, spanning various sectors. Annually, the company sold 18 lakh tonnes of groceries, 5 lakh laptops, 23 lakh appliances, and some 50 crore garments.

"The business has robustly expanded into various categories through brand collaborations and partnerships. We aim to modernise heritage Indian brands for today's consumers, maintaining their long-standing reputation. Collaborations with iconic brands like Campa Cola, Sosyo, and Lotus exemplify this," Reliance Retail Chairman Isha Ambani said.

Campa Cola, reintroduced with the 'Great Indian Taste' slogan, has gained domestic popularity and is poised for global expansion, beginning in Asia and Africa. The company also teamed up with General Mills and Maliban to offer premium products.

The growth of new commerce segment, with brands like Trends and Hamleys on JioMart, is notable. Integrating JioMart with WhatsApp resulted in a nine-fold customer increase since 2022. JioMart has on-boarded over 25,000 artisans, weavers, and micro-entrepreneurs, providing them support to modernise their processes, improve productivity, and help them grow their business.

The company is steadfast in their mission to act as a catalyst in every facet of retail commerce in India, collaborating with merchants nationwide to ensure benefits for the entire community said Isha Ambani, chairman, Reliance Retail. “Together, we hope to continue to exceed expectations, inspire creativity, and bring joy to our customers. This is our promise.” she said.

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