Reliance Industries Ltd. (RIL) on Friday unveiled an aggressive growth roadmap at its annual general meeting (AGM), setting a target to double its consolidated Ebitda over the next five years while announcing major investments across retail, artificial intelligence, new energy and satellite broadband.
The company also said the board of Jio Platforms has approved its initial public offering (IPO), with the Draft Red Herring Prospectus (DRHP) set to be filed with the Securities and Exchange Board of India (SEBI).
Ebitda, Retail Growth Targets
Chairman Mukesh Ambani said Reliance aims to double its consolidated Ebitda over the next five years, driven by growth across its consumer and energy businesses.
Reliance Consumer Products Ltd. (RCPL) is also targeting revenue of Rs 1 lakh crore by 2030 as it expands its presence in India's fast-moving consumer goods market.
Reliance Retail will deepen its manufacturing footprint by launching two new platforms focused on manufacturing and exports. The retail business also plans to manufacture beverages, daily essentials and fresh food while expanding its apparel manufacturing operations through partnerships with 21 clusters across India. As part of its expansion strategy, Reliance Retail will build an Advanced Manufacturing Platform and expand JioMart's reach to 1,200 cities.
Jio IPO Gets Board Approval
In a major announcement, the company said the board of Jio Platforms has approved the proposed IPO. The company filed the DRHP for the public issue with SEBI, formally initiating the listing process for the telecom and digital services business.
New Energy Projects Gather Pace
Reliance said its solar photovoltaic (PV) cell and module manufacturing facilities have now been commissioned and are operational.
The company's battery giga factory remains on track to be commissioned later this year, strengthening its integrated clean energy ecosystem.
Reliance also announced the signing of a $3 billion green ammonia offtake agreement with Samsung C&T, while expanding its clean energy portfolio into underground coal gasification.
AI And Satellite Broadband
Reliance announced significant investments in artificial intelligence, saying AI will be integrated across its businesses to improve efficiency, customer experience and operations.
The company also outlined a dual-track strategy for satellite broadband, including plans to build an India-made low-Earth orbit (LEO) satellite network to strengthen digital connectivity across the country.
The announcements underscore Reliance's strategy of expanding beyond its traditional energy business while scaling its consumer, technology and clean energy businesses as key drivers of future growth.
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