RIL annual report: CMD Mukesh Ambani that the company has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals.
Reliance Industries (RIL), on June 2, released the company’s latest annual report. Chairman and Managing Director Mukesh Ambani said that post a record fundraising round, RIL has a “strong balance sheet with high liquidity” that will support growth for its businesses.
Here are the key highlights:
MD Ambani said that the company had a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals.
- As per the annual report, RIL sold minority stakes in its telecom and digital business Jio Platforms and its retail arm for almost Rs 2 lakh crore and raised another Rs 53,124 crore through rights issue.
- RIL’s Rs 53,124 crore rights issue completed during 2020-21, was India's largest ever and oversubscribed by 1.59 times. It was also the largest in the world by a non-financial institution in the last 10 years. These funds notably helped Reliance reach net zero-debt target ahead of schedule.
Jio meanwhile is “accelerating rollout of digital platforms and indigenously-developed next-generation 5G stack”, the company said.
As per the report, Reliance Jio has built sufficient network capacity for the next 300 million mobile broadband subscribers, over 50 million fibre homes and 50 million micro, small and medium businesses (MSMEs).
Qualcomm and Jio successfully tested 5G solutions in India, achieving the 1 GBPS milestone on the Jio 5G solution.
- Further, Jio Platforms (JPL) and Qualcomm’s wholly-owned subsidiary Radisys Corporation, developed an open and interoperable interface-compliant architecture-based 5G solution with a virtualized RAN (vRAN), which will accelerate the development and rollout of indigenous 5G network infrastructure and services in India.
- JPL completed fundraising of Rs 152,056 crore across 13 global marquee investors.
- Focus over the next few years would be on “creating a robust wireline network across the country, offering high-speed connectivity and a bouquet of digital services to every home and enterprise.
To date, Jio has been granted 371 patents across multiple jurisdictions. In FY 2020-21 alone, the company filed for 38 patents and was granted 40.
- Among the key technology areas covered by the patents are Quantum Blockchain Network Technology, Deep Learning Applications in Health and Agriculture, and AI Industrial IoT Automation.
Disclaimer: “Reliance Industries Ltd, which own Jio, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.”
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