Mukesh Ambani has served as chairman and managing director of the multi-industry conglomerate Reliance Industries for the past 20 years. After the passing of his father, Dhirubhai Ambani, the founder of Reliance, in July 2002, Ambani assumed control. The market capitalization of the conglomerate was Rs 41,989 crore when Ambani took over the helm. The company’s m-cap increased to Rs 17,81,841 crore in March 2022 at an annualised pace of 20.6% during the previous 20 years.
The development of Reliance Industries (RIL) since Ambani became CEO is seen below.
- According to the corporation, RIL’s revenues increased at an annualised growth rate of 15.4% from Rs 45,411 crore in FY2001-02 to Rs 7,92,756 crore in FY2021-22.
- In addition to increasing sales, Reliance Industries saw significant increases in its net profit, exports, total assets, and net worth.
- From FY2001-02 to FY2021-22, RIL’s net profit increased from Rs 3,280 crore to Rs 67,845 crore. From Rs. 11,200 crore in FY2001-02 to Rs. 2,54,970 crore in FY2021-22, Reliance’s exports increased.
- From Rs 48,987 crore in March 2002 to Rs 1,49,665 crore in March 2022, the conglomerate’s total assets increased at an annualised rate of 18.7%.
- RIL’s net value, however, increased significantly from Rs 27,977 crore in March 2002 to Rs 14,99,665 crore in March 2022.
- In light of these remarkable numbers, the company increased investor wealth by about Rs 17.4 lakh crore over the course of these two decades, or Rs 87,000 crore on average.
- Reliance launched Reliance Retail in 2006 and Reliance Jio’s operations in 2016 under Ambani’s direction. Although the first hydrocarbon discovery was made by RIL’s exploration and production unit in late 2002, production didn’t begin until 2009.
- Reliance Foundation, the charitable arm of RIL, was established in 2010 under Nita Ambani’s direction.
- Through agreements, Reliance acquired well-known international fashion labels including Armani, GAS, and Diesel.
- The next meeting of the International Olympic Committee will take place in 2023 at Reliance’s Jio World Centre.
He attained the status of India’s first trillion-rupee earner in 2007. However, Gautam Adani, a fellow businessman from Gujarat, has recently displaced him as the richest Indian.
Under the direction of his wife Nita, Reliance Industries established the Reliance Foundation in 2010 to lead the company’s charitable endeavours. It works in the fields of sports, nutrition security, ecological preservation, and rural empowerment.
India’s largest CSR effort, both in terms of spending and reach, is the Reliance Foundation.