Reliance AGM 2022: Key Highlights

Mukesh Ambani started addressing shareholders at Reliance's 45th AGM 2022. In his opening speech, Mukesh Ambani talked about "Azaadi ka Amrit Mahotsav" and thanked PM Modi for giving a plan for the following 25 years. He stated that, despite the global financial crisis, India's economy "stands as a light of prosperity and stability."

Ambani on crossing 100 billion dollars in annual revenues remarked, "Reliance has persisted in amking overall improvements across all of its operations. Our company broke the 100 billion dollars barrier for the first time in India. Consolidated revenues for Reliance increased by 47% to Rs 7.93 lakjh crore. The annual consolidated EBITDA for Reliance exceeded a significant threshold of Rs 1.25 lakh crore. Reliance foundation continued to help millions of individuals nationwide in the spirit of We Care."

• Jio consolidated its position as the largest telecom service provider, said Ambani.
• Reliance Jio to launch 5G services in key cities by Diwali, said Ambani.
• 5G to reach every town of India by December'23: Mukesh Ambani
• We will provide everyone, everywhere with the best and most cheap internet connections possible, thanks to Jio 5G mentioned Ambani.
• Jio will roll out the most recent 5G technology, known as Stand-Alone 5G, which is independent of our 4G network: Ambani
• Rs 2 lakh cr investment for pan-India 5G network

Talking about Jio Air Fiber Akash Ambani said: "Jio 5G offers wire-free, ultra-high fiber-like speed over the air. It is known as JioAirFibre. It would be quite simple to immediately connect one's house or workplace to Gigabit-speed with JioAirFiber Internet.

Mukesh Ambani announces cooperation with Qualcomm- he said, "In our "Made in India" 5G partnership, we have the honour of working with the top tech companies in the world, including Meta, Google, Microsoft, Ericsson, Nokia, Samsung, and Cisco. I'm excited to announce a new collaboration with Qualcomm today."

Ambani on affordable smartphones-

Mukesh Ambani mentioned that the business is collaborating with Google to create incredibly inexpensive cellphones for the Indian Market.

Isha Ambani on FMCG business-

According to Isha Ambani, Director of Reliance Retail, the retail division of RIL would create its own expeditious consumer goods (FMCG) company this year.

Isha Ambani on the FMCG industry-

She said that the goal of the FMCG industry is to create and provide high-quality, reasonably priced products that address the daily needs of every Indian.

Mukesh Ambani on O2C business-

RIL is dedicated to integrating the oil-to-chemicals(O2C) sector, Ambani further added, that during the following 5 years, the corporation will invest Rs 75,000 crore in oil-to-chemicals operations.

Jio Mart and Whatsapp partnership-

According to Isha Ambani, the collaboration between JioMart and Whatsapp will promote growth. Users of JioMart-Whatsapp can pay with Whatsapp Pay, Cash or other options.

Mukesh Ambani discusses the green energy sector-

In order to debvelop four gigafactories, I had previously announced the construction of the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. I'd like to share with you today the opening of our new Giga Factory for Power Electronics.

Solar Energy according to Mukesh Ambani-

We have purchased REC Solar for the purpose of producing solar PV. According to Mukesh Ambani, the Jamnagar factory would start producing 10GW solar PV cells and modules by 2024 and grow upto 20GW capacity by 2026 using REC technology.

Mukesh Ambani discusses battery manufacturing-

"Batteries, in our opinion, are a crucial component of offering long-term energy storage. By 2023, we hope to begin producing battery packs. by 2024, we hope to have a fully integrated 5 GWh/year cell-to-pack manufacturng facility in place. By 2027, we hope to have a 50GWh/year capacity," he said.

Regarding Bioenergy, Mukesh Ambani said-

"Reliance is currently engaged in bioenergy reserach. I am pleased to inform that on August 15 this year, Reliance opened Phase 1 of its Bio-Energy Technology (BET) Centre in Jamnagar.

To go grom grey hydrogen to green hydrogen, according to Mukesh Ambani

In his address at the AGM Ambani stated, "We want to gradually begin transition from grey hydrogen to green hydrogen by 2025, after proving our cost and performance targets."