Reliance Industries Chairman and Managing Director Mukesh Ambani has completed two decades at the helm of Reliance Industries in 2022. The CMD took the reins of the company after the demise of his father and Reliance founder Dhirubhai Ambani on July 6, 2002.
In his ongoing tenure of 20 years, the company has managed to achieve consistently strong double-digit growth across revenues, profits, net worth, assets as well as market capitalisation. Among the several achievements, RIL’s market capitalisation grew at an annualised rate of 20.6 per cent in the last 20 years from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022. It also managed to achieve revenues at an annualised rate of 15.4 per cent from Rs 45,411 crore in fiscal 2001-02 to Rs 792,756 crore in fiscal 2021-22.
Not only revenues, its net profit grew 16.3 per cent from Rs 3,280 crore in fiscal 2001-02 to Rs 67,845 crore in fiscal 2021-22 while its exports grew 16.9 per cent from Rs 11,200 crore in fiscal 2001-02 to Rs 254,970 crore in fiscal 2021-22.
Reliance’s total assets grew at an annualised rate of 18.7% from Rs 48,987 crore in March 2002 to Rs 14,99,665 crore in March 2022 while its net worth grew at an annualised rate of 17 per cent from Rs 27,977 crore in March 2002 to Rs 645,127 crore in March 2022. RIL added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year, according to a statement from RIL.
With Mukesh Ambani at the helm, Reliance also started Reliance Jio’s operations in 2016, and Reliance Retail in 2006, while its exploration and production business made the first hydrocarbon discovery in late 2002 and production started in 2009.
Reliance’s traditional businesses of refining and petrochemicals, too, flourished and expanded multifold in the last two decades. In 2002, Reliance had a single refinery at Jamnagar. A second 100 per cent export-oriented unit (EOU) refinery was set up by 2009 nearly doubling RIL’s refining capacity with the unique capability to convert the worst of crudes into the best of exportable fuels. With this, Jamnagar became the world’s largest single-location refining complex.(ANI)
