Home / Companies / News /  Reliance Industries aims to double its value in next 5 years

India's largest company in terms of market share, Reliance Industries (RIL) has a lot more to offer and thrive in the next five years. RIL is committed to becoming more robust, more resilient, more purpose-driven, and truly future-ready. In the 45th annual general meeting on Monday, Reliance's chairman Mukesh Ambani expects the company to more than double its value by end of 2027 and thereafter to grow more rapidly. Currently, the conglomerate has a market value of more than 17.55 lakh crore.

While addressing the stakeholders, Ambani said, "I have always believed that the interests of an institution must always override those of any individual or family," adding, "keeping this in mind, we will create a robust architecture for tomorrow's Reliance to ensure that it remains a united, well-integrated and secure institution even as we develop our existing businesses and add new growth engines."

"This architecture will maximise the synergies among all our existing and new businesses," he said.

Ambani pointed out that the Group has already put in place a fail-safe governance system to ensure accountability at all levels.

Therefore, he said, "even as I continue to provide hands-on leadership to your company as before, my existing team of leaders and I, along with our Board of Directors, will dedicate ourselves to making Reliance more robust, more resilient, more purpose-driven, and truly future-ready, so that, in the near term, Reliance more than doubles its value by the end of its Golden Decade in 2027, and thereafter continues to grow ever more rapidly."

On BSE, RIL shares closed at 2,596.80 apiece down by 21.95 or 21.95%. The company's market valuation is around 17,56,795.64 crore as of now. At present, RIL is the most valued company on stock exchanges. 

"This is my solemn commitment to all of you and I would like you to judge me and my existing and new leadership team by our performance," the chairman told the company's stakeholders.

During the time, when a bright future is beckoning Reliance, what gives Ambani optimism is the huge reservoir of young, dynamic, and best-in-class talent.

"Our next-gen leaders are confidently taking over the reins across businesses," he said.

Mukesh's twin children Akash and Isha Ambani have assumed leadership roles in Jio and Retail respectively. Meanwhile, the youngest son, Anant has also joined the company's new energy business with great zeal.

"All three have fully inherited our Founder's Mindset. They are First Among Equals in a young team of leaders and professionals who are already doing amazing things at Reliance. Of course, all of them are being mentored on a daily basis by our senior leaders, including myself and the Board of Directors," Ambani said.

On roping in young talent, Ambani said, "And let me add here that Reliance is forever hungry for top-notch talent from India and around the world. We invite them with an assurance that they will enjoy the finest work environment in the world, so that they can develop their innate potential in an unconstrained way. We already have professionals representing over 60 nationalities, and this pool of young talent will become even larger and deeper as our businesses become bigger and more global."

He added, "All our next-gen leaders are determined, focused, and are brimming with fresh ideas and creativity. They think big, and they think fast. They have the courage to dream, as well as the ability to execute them. Above all, they have humility, empathy, and they care."

During the AGM, Ambani announced major developments for the company and to contribute to the country's economic growth.

In the succession plans, Ambani identified twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for the new energy unit.

On the 5G rollout, Ambani announced an investment of 2 lakh crore to launch the high-speed services in key cities by Diwali. Further, the company will be investing 75,000 crore in the O2C business over the next five years. While its retail arm, Reliance Retail has forayed into the FMCG segment. Also, RIL will be setting up of Dhirubhai Ambani Green Energy Giga Complex in Jamnagar to establish four Giga Factories.

On RIL's AGM, Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "A highlight of the AGM was Mukesh Ambani's emphasis on succession planning. He concluded his address by seeking everyone's blessings for the " Gen next taking over the reins confidently. " With Akash heading Jio, Isha heading Retail, and Anant heading Energy the plans are clearly spelt out. Mukesh Ambani's promise to double the value of the company by 2027 is reassuring. His commitment to India and faith in the India Growth Story remains as strong as ever."

According to Fortune Global 500 list, RIL is at 104th rank with a revenue of $93.98 billion and a net profit of $8.15 billion in the last year. In Forbes 500 list, the company holds 54th rank this year, on the other hand, it is at 52nd rank in the world's best employers list for the last year.

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