RIL annual report: Growth engines shifting to top gear, says Mukesh Ambani

Reliance Industries (RIL) — the oil-to-telecom conglomerate, led by billionaire Mukesh Ambani, is counting on each of its business segments for growth, as it positions itself for the future.

Addressing shareholders in its latest annual report, Ambani — RIL’s chairman and director — said the company’s key business verticals had emerged as “extremely agile and highly potent growth engines”, which were moving into top gear. The company counts oil-to-chemicals (O2C), retail, telecom and digital services among its key segments.

For financial year 2021-22 (FY22), Reliance posted a 47 per cent year-on-year jump in consolidated revenue to Rs 7.92 trillion and 26.2 per cent increase (y-o-y) in net profit to Rs 67,845 crore.