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Last Updated : Jul 06, 2018 10:12 PM IST | Source: Moneycontrol.com

RIL 41st AGM: Key takeaways from CMD Mukesh Ambani's speech

Jio and Retail's share in overall EBITDA has gone up to 13 percent from 2 percent.

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At Reliance Industries 41st AGM since listing, RIL chief Mukesh Ambani talked about the company's achievements, key initiatives and future plans.

Here are the key takeaways from the Reliance Industries' 41st AGM: 

> Jio and Retail's share in overall EBITDA has gone up to 13 percent from 2 percent.

> "RIL's profits are up by 20.6 percent to Rs 36,075.crore [FY18]. Reliance has reached an inflexion point," Ambani said.

> Reliance launches advanced fiber-based broadband connectivity service called JioGigaFibre. Mukesh Ambani says the new fibre service will redefine 24/7 emergency help for all homes across India.

> Ambani said that with JioGigaFibre customers will be able to view ultra-high definition entertainment television, have multi-party video conferencing, and use voice-activated virtual assistant and smart home solutions.

“Your home will have wall-to-wall Wi-Fi coverage, every appliance, plug point, switch will become smart. You can have cameras giving you 24x7 security monitoring, alerts,” Akash Ambani said.

> Users can start registering for 'JioGigaFibre' from August 15.

> Mukesh Ambani says data usage increased to 240 crore GB per month from 125 crore.

> The amount of video consumption increased to 340 crore hours per month from 165 crore hours per month.

Mukesh Ambani_AGM_Quotes3

> RIL announces addition of Facebook, YouTube and WhatsApp to JioPhone.

> RIL launches high-end variant of JioPhone, named JioPhone 2, featuring horizontal screen viewing and a QWERTY keypad. The phone is priced at Rs 2,999. JioPhone 2 will be available at Jio stores across India from August 15.

> RIL launches JioGiga TV, a set-top box with ability to play videos at 4k resolution.

> Ambani said Reliance continues to be India's largest exporter accounting for 8.9 percent of India's total merchandise exports with a value of Rs 176,117 crore with access to markets in 113 countries.

> "Your company paid Rs 26,312 crore of customs and excise duty – 6.4 percent of India's total collections during the year – highest in the Indian private sector," Ambani said, adding that the firm paid Rs 42,553 crore of GST.

> Mukesh Ambani announces Monsoon Hungama where users can exchange existing feature phones for a new JioPhone at just Rs 501.

> RIL is currently running beta trials on tens of thousands of homes for the JioGigaFiber. Those interested can register through MyJio or Jio.com.

Mukesh Ambani_AGM_Quotes4

> Speaking about Reliance Retail, Mukesh Ambani said Reliance Trendz continues to be the largest apparel seller in India, while Reliance Digital is the largest seller of electronics and digital products in the country.

> We see the maximum scope in creating a unique online-to-offline platform, Mukesh Ambani said, adding that this will be done by combining the resources of Reliance Retail and Jio's digital infrastructure.

> Ambani said that 7,500 Jio stores saw over 350 million footfalls this year.

> The company opened over 4,000 new stores within the Reliance Retail this year. "Reliance market has been creating value for small merchants," Mukesh Ambani said.

> Our digital connectivity is the foundation for our education, healthcare, agriculture platforms, Mukesh Ambani said.

> He said the Reliance Industries now has one of India's largest media and entertainment networks in its portfolio and that it is the partner of choice for any foreign media company operating in India.

> One in five internet users in India are on Network18's websites and one in two people watch its TV channels, Ambani said.

> Ambani said digital tools will predict and anticipate customer needs. "Jio has enabled Reliance to strategically reinvent itself as a Technology Platform Company. Digital platforms have become the new-age factories and service providers," Mukesh Ambani said.

On Jio | Jio is truly India’s mobile network. Our customers are engaged with us for more than 219 minutes a day on an average.

> Ambani said that the company wants to more than double income of farmers. He added that Jio can usher a smart green revolution in India.

> The company aims to provide broadband connectivity to villages and schools across India via Jio.

> Ambani said that Reliance Industries has stabilised the world's largest paraxylene complex and commissioned largest off-gas cracker complex.

> Ambani says that Reliance Industries is now the largest recycler of PET bottles in the country.

> The company is proposing a cross-border merger of RHUSA with Reliance.

> Ambani said that along with their partner BP, they will deploy various technologies to ensure that they start gas production from KG-D6 by 2020. "We aim to achieve production of 30-35 million cubic meters of per day by 2022," Ambani said.

> "As the world migrates from fossil fuels to renewable energy, we will maximize oil to chemicals conversion and upgrade all of our fuels to high value petrochemicals. The hydrocarbon business is thus posed for robust value creation and exciting times ahead," Mukesh Ambani said.

> Ambani said that Reliance Foundation’s rural transformation initiatives are focused on establishing strong market linkages for farmers and leveraging technology for better reach and impact. These initiatives have reach out to over 13,500 villages in 15 states.

> "Cyber security is our solemn promise," Mukesh Ambani said.

> Ambani said that the largest ever cycle of investment in hydrocarbon business is nearly complete.

> All these initiatives will enhance our capabilities and competencies, making us future-ready, Mukesh Ambani said.

> "As we kick off our Golden Decade with a flourish, we remind ourselves of Reliance’s unwavering commitment towards India’s rise. May the God Almighty bless us in our endeavour," Mukesh Ambani said.

> Jio will be present in every district, taluka and gram panchayat of India claimed Mukesh Ambani. He added that Jio can multiply capacity utilisation, which is currently at 20 percent, without additional investments.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
First Published on Jul 5, 2018 11:44 am
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