With a record Rs 2 lakh crore funds raised, the pandemic was definitely not a slow year for Mukesh Ambani and Reliance Industries. These are the highlights from the RIL annual report before it's crucial AGM on June 24-:
- Changing Face of RIL: 50% of consolidated operating profit comes in from consumer facing business, a jump of 36% from the year before.
- Mukesh Ambani's Tech Focus: "In an unpredictable and challenging environment, agility and innovation are key to staying consistently successful. As technology becomes a driving force in all businesses and facets of life, the future belongs to organisations that can lead and leverage the digital revolution.”
- Plans for Jio: Qualcomm and Jio successfully tested 5G solutions achieving the 1 Gbps milestone on Jio 5G solution
- Oil-to-chemical business: No direct mention of Aramco but the report says O2C biz restructuring has seen an overwhelming response and will attract investors into the business.
- Mukesh Ambani didn't take any salary for the year 2020-21 in the wake of the Covid-19 pandemic.