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

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.

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