RIL recommends highest ever dividend payout: Ambani

Reliance Industries chairman Mukesh Ambani on Thursday addressed the much-awaited annual general meeting of the company. The AGM is always an event that is watched for high-profile announcements.

The company has seen declining profits for two straight quarters and is sitting on a pile of cash, even as its earnings from the core refining business have fallen.

Here are the highlights from Mukesh Ambani's speech at the meeting:

Transformation at RIL is about institutionalising the capabilities of our people.
Transformation will create a robust process-driven organization that will outperm the global years.
Partnerships will be an important feature of future growth.
Internation biz environment more challenging today than any time in history.
Gro-political changes leading to supply challenges have added to our troubles, but despite this RIL has grown stronger.
High domestic inflation, adverse forex movements and slowdown in growth have impacted the company's performance.
India is poised to be one of the growth engines of the world.
RIL's investments in petchem will meet India's growing needs.
New investments in communication will create new waves of growth for the company and the country.
We have created value by consistent profitable growth in the company.
Lower-than-anticipated production have had an impact on the company's profits.
RIL is reinvesting cash flows in new projects, which will fuel growth over the next few years.
Petrochemicals has been the foundation of the company's growth over the last 34 years.
Reliance has delivered 21.6% CAGR since its IPO in 1977-78.
Rs 1,000 invested in IPO has grown to Rs 7,78,215.
Revenues have grown 28% year-on-year in 34 years.
Profits have grown 30% in 34 years.
Reliance has recommended highest ever dividend pay out.
Reliance meets 2 per cent of the world's needs of transportation fuel supply.
Making a major investment to further strengthen the refining business.
Have bought back 2.7 cr shares worth Rs 1929 cr
Reinvesting cash in new projects, new businesses
Also manufacturing surfactants, several other value added petrochemical product
Petrochemical capacity now stands at 15 mn tonnes
Integration with refinery in Jamnagar provides feedstock advantage
Setting up of gas cracker in Jamnagar will be largest in the world
Implementation of all projects in full swing
Reliance has 2.5 million tonne polyester capacity in India and Malaysia
Reliance continues to be the most profitable large polyester producer in the world
Reliance is increasing its polyester capacity by 1.5 million tonnes in the next two years
Reliance also enhancing intermediate capacity to capture full value in chain
Reliance will be the sole producer of poly-butadiene rubber in India
Reliance operated refinery at 109% last year in a most challenging environment in recent times
Gross refining margin of $8 per barrel was amongst the highest in the world
We are building the largest gasification facility in the world to convert petroleum coke to synthetic gas
Synthetic gas will be used as feedstock and fuel for our integrated Jamnagar complex
Petcoke gasification will provide competitive fuel and reduce volatility of earnings
Petcoke gasification will increase refining margins by 30–40% within next three years
Expect to have 1 crore shopping with Reliance Retail every week in the next 3–4 years from the current 30 lakhs.
Production from D1 and D3 fields been far more difficult than anticipated.
Target to achieve total production of 60 million cubic meters of gas by 2015.
Total investment in the shale gas business exceeds $ 3.5 billion.
In apparel segment, Reliance trends has largest chain of stores in the country.
Reliance Digital has tripled the number of stores, expanded product offering and is the fastest growing digital retailer in India.
Reliance is partnering with kirana and other small shopkeepers.
The partnership leverages Reliance Retail's supply chain, large assortment of products, sourcing capabilities and ability to supply at competitive price.
Reliance Retail brings best international brands to India for aspiring young customers.