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Last Updated : Aug 12, 2019 04:26 PM IST | Source:

Reliance Industries AGM: Here are key takeaways from Mukesh Ambani's speech

Mukesh Ambani said RIL is ready to kickstart four key engines this year—Internet of Things (IoT), Home Broadband, Enterprise & MSME Broadband—with annual revenue opportunity for Jio at Rs 20,000 crore from IoT only

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Mukesh Ambani, Chairman and Managing Director of Reliance Industries, country's second-largest company by market capitalisation, announced various plans and partnerships across businesses at 42nd Annual General Meeting on August 12.

The company signed an agreement to sell 20 percent stake in oil to chemical business to Saudi Aramaco, one of the world's largest companies and also formed a partnership with BP for its KG-D6, Ambani announced.

Jio crossed 340 million subscribers, he said, adding the investment is almost complete. Mukesh Ambani said RIL is ready to kickstart four key engines this year—Internet of Things (IoT), Home Broadband, Enterprise & MSME Broadband—with annual revenue opportunity for Jio at Rs 20,000 crore from IoT only.


With the completion of Jio capex, and through stake sale and asset monetisation, Reliance Industries is aimed to be zero debt company in next 18 months.

Here are key things that Mukesh Ambani said at Reliance Industries' 42nd AGM:

-In FY19, RIL became India's largest and most profitable company among private and public sector companies.

-Reliance Retail crossed the turnover of Rs 1.3 lakh crore to be the largest retail company

-Jio & Retail have proved the sceptics wrong.

-Reliance Retail is larger than all major retailers put together.

-Consumer businesses contribute 32 percent to Reliance's earnings before interest, tax, depreciation and amortisation (EBITDA).

-Consumer businesses to contribute 50 percent to Reliance's consolidated EBITDA soon.

-RIL has the most comprehensive and integrated oil-to-chemicals (OTC) business.

-Oil to chemicals business achieved revenue of Rs 5.7 lakh crore, exports of Rs 2.2 lakh crore.

-Saudi Aramco & RIL agree to form long-term partnership. It will acquire 20 percent stake in oil-to-chemical business with an enterprise value of $75 billion.

-JV with BP will invest Rs 35,000 crore in KG-D6. Focussing on augmenting production of methane; partnership with BP will help here.

-Jio has been signing 10 million new customers every month; 500 million subscribers well within company's grasp. Jio has become the second-largest operator in the world.

-Company has invested Rs 3.5 lakh crore to create state-of-the-art digital infrastructure. Can offer fixed broadband to homes & enterprises today.

-Jio's wireless technology is already 4G+ & can be upgraded to 5G at minimal cost.

-Jio's IoT platform to be available from January 1, 2020. It aims to connect 1 billion homes on Jio IoT platform. Annual revenue opportunity for Jio at Rs 20,000 crore from IoT.

-Jio will complete the Jio Fiber rollout in the next 12 months.

-RIL received 15 million registrations from 1,600 towns for home broadband service after launching in August 2018.

-It plans to reach 20 million residences and 15 million business establishments. Jio Fiber trial ongoing with 5 lakh homes already. RIL aims to complete Jio GigaFiber within 12 months.

-Designed Jio set-top box to accept broadcast signal from local cable operators (LCO) partners. All LCO partners will continue to have steady revenue for their broadcast TV business.

-Jio Fiber aims to empower 2.4 million small and medium business. Jio Fiber to provide MSMEs cloud connectivity.

-Jio fiber commercial services will be launched on September 5

-Jio fiber tariffs are based on 4 strong principles

-Jio's base plans will start at 100 mbps & go upto 1 gbps, this move will improve the quality of fixed line data in India

-Jio fiber plans will be priced at Rs 700-10,000 per month

-Jio fiber will suit every budget & every sector

-Voice calls from home to any Indian operator, mobile or fixed will be free,

-Introducing unlimited international calling pack at Rs 500 per month for fixed line services

-Jio fiber plans will come bundled with subscriptions with premium OTT applications

-Jio launches unlimited calling pack to US, canada at Rs 500 per month

-Jio fiber customers will enjoy first day first show movies

-Customers will avail movies & shows along with the International market

-Launching 'JioPostPaid Plus', India's first priority sim set-up services at home

-Jio fiber customers will get HD/4K TV & 4K set top box free as welcome offer

-Jio is investing in 14 technology start-ups

-Jio plans to provide blockchain technology all over India in next 12 months

-Jio & Microsoft in long-term agreement to accelerate digital transformation

-Jio will make cloud investment free for all start-ups in India

-Urge start-ups to register for custom design package at Jio website

-Will provide Jio connectivity & applications to SMEs at Rs 1,500 per month

-Will provide free computing-connectivity service to start-ups from January 1, 2020

-Reliance Retail has brought Retail revolution to India

-Reliance Retail has crossed Rs 1.3 lakh crore in revenue last year

-Reliance Retail serves over 1 lakh customers every hour

-2/3rd of Reliance Retail stores are in tier 2, 3 & 4 towns

-Reliance Retail sells half of fresh fruits & vegetables sold in India

-New Commerce is a $700 billion business opportunity

-For RIL, New Commerce is an opportunity to integrate merchants, consumers & producers

-Purpose of New Commerce is to transform unorganized retail into organized retail

-New Commerce is meant to revolutionise India's 3 crore kirana stores

-Company made progress in developing & testing RIL's merchant platform

-Our 72 TV channels represent more than 95 percent of TV viewing in India

-RIL has invested Rs 5.4 lakh crore in last 5 years across company's verticals

-Oil-to-chemicals business best placed to pursue growth & value creation

-Continue to be rated AAA for domestic debt

-Confident that we can grow by 15 percent annually over the next 5 years

-Telecom infrastructure transactions should be completed by the end of this financial year

-Target is to become zero net-debt company in next 18 months

-Jio & Reliance Retail move towards listing within next 5 years.

Disclaimer: Reliance Industries Ltd., which also owns Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

Also Read: Net-zero debt, listing for Jio, Retail—dominant themes of Mukesh Ambani’s speech at RIL’s 42nd AGM

Also Read: Full text: Mukesh Ambani's address at RIL's 42nd AGM

Also Read: RIL to list Jio and Reliance Retail within next five years

Also Read: RIL AGM 2019: Top announcements made by Reliance Industries CMD Mukesh Ambani

Also Read: RIL to be net zero debt company within next 18 months: Mukesh Ambani

Also Read: Aim to be among the world’s Top 20 retailers in 5 years: Mukesh Ambani

Also Read: RIL AGM 2019: Jio Fiber to be launched on Sept 5, offer new movies, 4K HD TV sets for free

Also Read: Jio subscriber base at over 340 million: Mukesh Ambani

Also Read: RIL, BP to invest Rs 35,000 crore in KG basin: Mukesh Ambani

Also Read: RIL AGM 2019: Jio to roll out set-top box in partnership with cable operators

Also Read: Jio’s IoT platform to be commercially available from January 2020: Mukesh Ambani

Also Read: RIL Chairman Mukesh Ambani announces JioFiber rollout starting from September

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First Published on Aug 12, 2019 01:01 pm
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