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Motilal Oswal Report
Reliance Industries Ltd., in its annual general meeting held on June 24, 2021, announced a change in gears with the introduction of its new green energy business, with large-scale capex planned for the same.
It also continues to focus on the next-gen opportunities in Jio digital and Reliance Retail. Here are the key highlights:
Constantly on the lookout for large-scale and high-growth business opportunities, the company announced its next big value creation engine with the launch of its New Green Energy business.
With the peak of the investment cycle behind in Reliance Jio and Reliance Retail, it now plans to invest Rs 750 billion towards this ambition over the next three years.
The company's digital business (RJio) has seen revenue growth deceleration in the recent past, with slower subscriber additions and a rising base effect – 29% revenue growth was seen in FY21 versus 102%/34% in FY19/20 and the expectation of 9% revenue growth in FY22E.
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