Reliance Industries will more than double its EBITDA by the end of its ‘Golden Decade’ in 2027, Chairman Mukesh Ambani told shareholders at the company’s 48th Annual General Meeting on August 29.
Outlining the group’s ‘Value Creation Roadmap’, Ambani said the focus will be on building new growth engines while strengthening existing businesses to ensure sustained, long-term value creation.
Ambani highlighted that Reliance Industries had already been transformed from a Fortune 1000 company into a Fortune 40 global powerhouse within a generation, creating over $200 billion in value entirely in India.
He attributed this to the group’s four guiding principles - aligning its growth with India’s national interest, building businesses of the future, scaling them up to world-class standards, and investing heavily in talent and cutting-edge technologies.
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“…the best of Reliance is yet to come. In 2022, I made a promise that we will double Reliance by the end of our Golden Decade. At that time, our EBITDA was about Rs 1.25 lakh crore ($14.6 billion). I reiterate that Reliance will more than double its EBITDA by the end of its Golden Decade in 2027,” said Ambani.
Looking ahead, he projected stable returns from the Oil-to-Chemicals (O2C) business and strong growth in the materials segment, driven by high-value green fuels and chemicals.
The New Energy business, which aims to make India energy self-sufficient by 2047, is expected to become as large as O2C within the next five to seven years. “In scale, ambition, and impact, it will surpass everything Reliance has done so far,” Ambani said.
The company’s consumer-facing engines will also accelerate, he added.
Jio, with over 500 million subscribers, is targeting complete 5G migration and a move to 6G by 2030. Reliance Retail, already serving more than 300 million Indians every month, is expected to multiply revenue through its omni-channel, physical-digital-B2B model.
Ambani called the two new businesses - Reliance Consumer Products (RCPL) which is set to emerge as India’s largest FMCG company and Reliance Intelligence, which will spearhead AI-driven deep-tech growth - as future growth engines for the Reliance group.
“Both have the potential to grow larger than our existing businesses,” he said, adding that RIL’s new Intelligence business will drive the AI revolution in India.
“This will enable Indians to adopt AI at scale and make our country a global force in AI.”
Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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