New Delhi: Reliance Industries Ltd (RIL) turnover is up 4,700 times to over Rs3.30 trillion in 40 years, while profit has grown 10,000 times to Rs30,000 crore, said chairman Mukesh Ambani at its 40th annual general meeting (AGM) for the shareholders on Friday at Birla Matushri Sabhagar in Mumbai. Ambani made a host of other announcements related to Reliance Jio and the company’s achievements in the past 40 years at the AGM.

RIL, which announced its June quarter earnings on Thursday, posted a better-than-expected 9% rise in first-quarter standalone profit, helped by higher margins from its core petrochemicals business.

Here are the latest updates and developments from the AGM.

■ Shares of Reliance Industries today closed the day with nearly 4% gains after the company reported its highest quarterly consolidated net profit of Rs9,108 crore in three-months to 30 June.

The scrip of Reliance Industries (RIL) went up by 3.76% to close at Rs1,586.20 on BSE. Intra-day, it gained 4.15% to Rs1,592.20-its multi-year high. At NSE, shares of the company moved up by 3.66% to end at Rs1,585.

Led by the gain in the stock, the company’s market valuation surged Rs18,724.39 crore to Rs5,15,790.39 crore. In terms of volume, 19.76 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

Oil-to-telecom conglomerate RIL yesterday reported its highest quarterly consolidated net profit of 9,108 crore in three-months to 30 June on the back of higher petrochemical margins and one-time gain from sale of African asset.

Net profit in the April-June quarter of current fiscal at Rs9,108 crore (Rs30.8 per share) was 28 per cent higher than Rs7,113 crore (Rs 24.1 a share) in the same period of the last financial year, RIL said in a statement. (PTI)

■ Reliance Industries Ltd today announced one bonus share for every share held—the first such issue after 12 years, and a dividend of Rs13 a share.

Announcing the 1:1 bonus share, RIL chairman and managing director Mukesh Ambani said this is the country’s largest bonus issue.

The last time India’s largest private sector company gave bonus shares to its shareholders was 12 years ago.

As many as 39 companies have this year announced bonus shares. Indian Oil Corp (IOC) had announced a 1:1 bonus issue last month. (PTI)

■ As we march toward the Golden Jubilee of Reliance in 2027, I can confidently say that the Golden Decade of Reliance has begun. Today I assure the people of India that Reliance will do everything, and more, to meet the nation’s expectations. My father also taught us to be humble. And to never forget that the nation expects a lot more from us in the future: Mukesh Ambani.

■ Jio’s business and societal value will grow immensely over the next decade. Jio will become India’s largest provider of data service, products and application platforms: Mukesh Ambani

■ I now want to share with you my vision for value creation at Reliance over the next decade. India at 80 should aspire to become–and can certainly become–one of the three largest economies in the world. Reliance at 50 will aspire to become–and will certainly become–one among the Top 50 companies in the world. Reliance’s future value-creation strategy will support tens of thousands of small and medium businesses. Over the next decade, India has the potential to move from a $2.25 trillion economy to a $6 trillion economy. I am confident that Reliance’s own growth over the next ten years and our contribution to the Indian economy will surpass what it has achieved in the past 40 years: Mukesh Ambani

■ What took the West 300 years and China 30 years, India can achieve in just about a decade or two. Our energy & materials businesses constitute a strong platform to reach EBITDA of Rs100,000 crore in next few years: Mukesh Ambani

■ Reliance Foundation has emerged as the largest corporate Foundation in India and reaches out to 12 million people. Reliance Foundation has improved productivity of land for over 50,000 families and made 131 villages water-secure. Reliance Foundation’s Education for All initiative now impacts the lives of 100,000 children. Reliance Foundation is committed to creating opportunities for the youth to pursue a career in sports. In its first year, Reliance Foundation Youth Sports reached 8 cities and reached over 2 million children: Mukesh Ambani.

■ In fuel retail, we re-commissioned 142 new outlets during the year: Mukesh Ambani.

■ We are proud to say that one in every ten Indians shops with us. This year, Reliance Retail crossed Rs33,000 crores. 371 new retail stores were opened last year, an unprecedented expansion in India by any retailer: Mukesh Ambani.

■ On such an occasion and in keeping with our founder to share prosperity with all shareholders the Board of Directors has decided to recommend a bonus issue in the ratio of 1:1. This is the largest bonus issue, ever, in India: Mukesh Ambani

■ We have commissioned our Paraxylene complex, making Jamnagar world’s largest manufacturing facility of Paraxylene. Our projects will place Reliance as among the top 10 Petrochemical producers globally. Our refining business continues to demonstrate exemplary performance.

■ We, at Reliance, congratulate the Government on its historic step of introducing the GST regime. The GST brings uniformity in tax rates and enables India to fulfil One Nation One Tax, resulting in one unified market: Mukesh Ambani.

■ Reliance paid 9,637 crore of customs and excise duty during the year, almost 5% of India’s total. Reliance is the highest income tax payer in the private sector in India and paid 8,880 crore as during the year: Mukesh Ambani

■ Reliance remains India’s largest exporter with 8% of total merchandise exports with a value of Rs147,755 crore: Mukesh Ambani.

■ We will always live by your ideals, vision & values and build a New India of Dhirubhai’s dream. This is our solemn commitment. And this is my promise to all of you. The net profit of Rs29,901 crore is the highest in the Indian corporate sector: Mukesh Ambani.

■ As Reliance marches towards its Golden Jubilee, today we commence our Golden Decade: Mukesh Ambani.

■ Reliance Industries board recommends 1:1 bonus issue, says RIL Chairman Mukesh Ambani. This is the largest bonus issue, ever, in India, he adds.

Also read | For Reliance Jio, free services did wonders, ‘effectively free’ will have its limitations

■ I want to publicly thank all Jio employees and applaud their contribution to our company, and our nation: Mukesh Ambani.

■ Jio is a young organization and Akash and Isha, our Directors, both 25, lead a large contingent of highly talented professionals.

■ Jio phone to be available for pre-booking from 24 August. All Jio phones will be made in India from last quarter, says Mukesh Ambani.

■ A full refundable deposit of Rs1,500 to be paid for Jio phone to prevent misuse. Money to be refunded after 36 months on return of phone, says Ambani.

■ Jio phone to cost effectively Rs0 as against Rs3,000-Rs4,500 for a smartphone price, he said.

■ Mukesh Ambani says: This is “protection from extortionist data charges". “This is how Jio will end digital exclusion in India," he said.

■ Jio will be integrated with all major e-commerce platforms, says Ambani.

Also read | There is method in the Ambani madness

■ To protect against misuse—a fully refundable one-time security deposit of Rs1,500 which will be returned after three years.

Mukesh Ambani also announced the features of the new Jio phone

1) Free voice

2) Unlimited data at Rs153 a month (at prevailing 2G data rates, this would cost Rs4,000 with other operators)

3) TV cable to connect it to antenna TV (including CRTs) and pack of Rs309 for watching on TV

4) A weekly data plan of Rs54 or two-day plan of Rs24.

■ From 15 August, digital freedom for all feature phone users. Jio will give access to unlimited data on Jio phone. Reliance dedicates JioPhone to the nation on the joyous occasion of India at 70, 70th anniversary of India’s Freedom: Mukesh Ambani.

■ Jio phone truly revolutionary; on Jio phone, voice will always be free.

■ Jio phone to be “most intelligent, affordable phone" in the world—a 4G LTE phone supporting all 24 Indian languages, says Mukesh Ambani.

■ Mukesh Ambani announces launch of Jio phone, a feature phone loaded with smartphone features.

Also read | Reliance Jio seeks to shake up telecom market further with virtually free phone

■ Market cap has expanded 50,000 times in 40 years, says Ambani.

■ Out of 78 crore mobile phones in India, 50 crore feature phone users left out of digital revolution, says Mukesh Ambani.

■ India has overtaken US and China in mobile data usage, says Mukesh Ambani on his telecom venture Reliance Jio.

■ Mukesh Ambani says data consumption in India has grown to 120 crore GB from 20 crore GB in 6 months.

■ Reliance Jio users consistently make more than 250 crore minutes of voice and video calls every single day, says Mukesh Ambani.

■ Reliance Jio has 125 million customers today, added 7 customers per second every single day, says Mukesh Ambani.

■ Reliance Jio is the fastest adoption of technology service anywhere in the world, says Mukesh Ambani.

■ Mukesh Ambani says a person who invested Rs1,000 in 1977 has earned Rs16.5 lakh in 40 years

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