The 47th Annual General Meeting has begun, and RIL Chairman Mukesh Ambani has begun his speech. He began by discussing how Prime Minister Narendra Modi’s leadership has helped India prosper. Reliance in the business of growing India” was another thing he mentioned.
According to Mukesh Ambani, RIL has notified the stock exchanges that the Board of the firm will take a 1:1 bonus share into consideration.
“I’d want to share some excellent news with you today based on this confidence. “Reliance Industries Limited sent notice to the stock exchanges at 1:45 p.m. today about the Board of Directors meeting on September 5th to discuss issuing Bonus shares in a 1:1 ratio,” Ambani stated.
“As Reliance expands, we generously compensate our investors. And when our shareholders receive substantial rewards, Reliance expands more quickly and adds greater value. This positive loop has ensured the ongoing success of your business,” he continued.
Over the course of FY24, Reliance invested over Rs 3,643 crore (US$ 437 million) in research and development, bringing its total research investment over the previous four years to over Rs 11,000 crore (US$ 1.5 billion). According to Mukesh Ambani, the organization has over a thousand scientists and researchers working on important initiatives in a variety of sectors.
In the last three years, Reliance has made a total of about Rs 5.28 lakh crore (US$ 66.0 billion) in investments. Through various taxes and duties, Reliance continued to be the single greatest donor to the national exchequer, bringing in Rs 1,86,440 crore (US$ 22.4 billion) in FY 2023–2024,” he continued.
Jio has 490 million members, according to Mukesh Ambani.
With 490 million members, Jio is a family now, a testament to the great faith and steadfastness of our clients. According to Mukesh Ambani, each Jio subscriber uses an average of over 30 GB of data each month, which has contributed to a 33% increase in our data traffic over the previous 12 months.
“One of the most satisfying parts of Jio’s journey is that everything we have achieved is powered by our own technology,” stated Mukesh Ambani. We saw right away that innovation, not just integration, was needed to drive the digital revolution. Jio is a genuine deep-tech innovator today.
Mukesh Ambani on Jio AirFiber and 5G
Mukesh Ambani recently presented Jio’s remarkable progress with JioAirFiber, the company’s 5G-based home internet service that debuted in October. In India, JioAirFiber has quickly changed internet access by providing high-speed connectivity and outpacing the speeds of conventional optical fiber. In less than six months, Jio achieved a remarkable milestone by becoming the quickest customer acquisition company in the world by acquiring one million AirFiber users.
Ambani emphasized that this achievement is just the start. In under 100 days, the business was able to secure the next million AirFiber clients by utilizing Jio’s deep tech capabilities and streamlining operations. Jio wants to reach 100 million home internet users at an unparalleled rate by adding one million homes every 30 days with continuous improvements.
Jio is planning to link over 20 million small and medium-sized organizations, establishing lofty ambitions for the business sector in addition to growing household broadband. The company’s other main goal is to improve connectivity for the Indian healthcare and education systems. Excited about the prospect of connecting 1.2 million doctors, 70,000 hospitals, and 1.5 million schools and institutions, Ambani emphasized Jio’s dedication to building digital infrastructure across vital industries.
‘Jio Brain’ and RIL’s ambitious AI plans: Mukesh Ambani
Mukesh Ambani unveiled Jio Brain, a ground-breaking project intended to expedite AI adoption within the Jio network and beyond, at the most recent AGM. “To enhance AI adoption, we are developing Jio Brain, a comprehensive suite of tools and platforms covering the entire AI lifecycle,” Ambani said.
Jio Brain seeks to expedite the integration of AI technology within Jio, enabling improved consumer comprehension, more accurate forecasting, and speedier decision-making. In an effort to improve their AI capacities and hasten their entry into the AI market, Ambani also announced that Jio Brain is being made available to other Reliance running firms.
Reliance is laying the groundwork for a huge advancement in AI-driven productivity and innovation throughout its wide range of business activities via Jio Brain.
Jio AI-Cloud Welcome Offer announced
Mukesh Ambani unveiled the Jio AI-Cloud Welcome offer during today’s AGM, in line with the company’s “AI Everywhere For Everyone” goal. Jio users will be able to save up to 100 GB of digital stuff, such as documents, videos, and images, in the cloud for free thanks to this initiative. Jio will also provide the most affordable rates for supplementary storage needs, Ambani stressed. With the goal of providing consumers across the country with strong and reasonably priced cloud storage and AI services, Jio AI-Cloud Welcome offer is scheduled to start this Diwali.
Jio TvOS and new Jio Home features are unveiled by Akash Ambani.
Akash Ambani unveiled Jio TvOS, a fully homegrown operating system for Jio Set Top Box, at the Reliance AGM 2024. Jio TvOS, which is optimized for big displays, offers a quicker, more seamless, and more customized watching experience. Ambani also unveiled new Jio Home features that improve convenience and connectivity. With lightning-fast internet and top OTT apps, Jio maintains its leadership in digital home services with the goal of enhancing the intelligence and connectivity of home entertainment.
Jio Phonecall AI is unveiled by Akash Ambani.
Akash Ambani unveiled Jio Phonecall AI, a ground-breaking technology that incorporates AI into every phone call, at the Reliance AGM 2024. This creative approach automatically converts voice calls to text and records them in Jio Cloud. Jio Phonecall AI also has the ability to translate and summarize call content into different languages, making AI just as approachable and natural as placing a phone call.
On the RIL-Disney combination, Mukesh Ambani declares the start of a new era.
Mukesh Ambani announced a historic collaboration with Disney at the Reliance AGM 2024, ushering in a new era for the Indian entertainment industry. “This marks the beginning of a new era in India’s entertainment industry,” Ambani stated. Through the partnership, unmatched content will be made available at competitive pricing by fusing digital streaming with content development. “Our digital-first approach will deliver unparalleled content at affordable prices,” Ambani stated.
He added that the collaboration will offer top-notch digital entertainment across a range of platforms and satisfy the preferences of every customer. “I warmly welcome Disney to the Reliance family,” Ambani said, expressing his excitement and underscoring the expected significance of this significant relationship.
At AGM 2024, Mukesh Ambani discloses Reliance Retail’s top global rankings.
Mukesh Ambani announced significant milestones for Reliance Retail at the Reliance AGM 2024. By number of stores, top 10 by market capitalization, top 20 by staff count, and top 30 by revenue, he declared that Reliance Retail is currently among the top 5 global retailers.
“Our unique operating model has been the foundation of the competitive advantage and leadership position of our Retail business,” Ambani stated.
Mukesh Ambani declares Jamnagar to be the new center of energy
Mukesh Ambani said with pride at the Reliance AGM 2024 that Jamnagar has become a major leader in the new energy space. “By 2025, Jamnagar will become the cradle of our New Energy business,” Ambani stated. The speaker emphasized the Dhirubhai Ambani Green Energy Giga Manufacturing Complex, which is slated to become the most sophisticated and expansive modular plant globally. This facility will promote the development of green energy technology and further establish Jamnagar as the global center of energy.
Mukesh Ambani stressed the solid financial basis underlying the business’s New Energy projects during the Reliance AGM 2024. “Our company has a strong balance sheet, robust annual accruals, and access to competitive global capital,” Ambani stated. He emphasized that the cash flows from the New Energy company are expected to be less cyclical and more consistent. Ambani expressed confidence that the New Energy sector may reach profitability similar to Reliance’s current O2C business over the next five to seven years, indicating a similar development trajectory and financial stability.
Leave a Reply