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Ambani said RIL’s value creation philosophy is rooted in its work culture, which is guided by Mahatma Gandhi’s principle: ‘Customer is the most important visitor on our premises’
Mukesh Ambani speaks at RIL AGM.
Employment generation for India’s talented youth is a priority for Reliance, apart from being a national priority, Reliance Industries Chairman Mukesh Ambani said on Friday as he addressed the company’s 48th Annual General Meeting.
Addressing shareholders and other stakeholders, Ambani said: “Globally, the dynamics of employment are undergoing a shift towards flexibility, driven mainly by AI and automation. Reliance has also adopted modern engagement formats that combine opportunities for upskilling, entrepreneurial drive, job satisfaction, and higher earning potential.
“Today, our conventional and non-conventional workforce has grown to nearly 6.8 lakh people. I see this growing to more than 10 lakh people over the next few years. It gives me immense satisfaction to say that we rank among the most admired employers and largest job creators in India. Reliance continues to lead across every key growth parameter—revenues, profitability, exports, market value, investments, contribution to the exchequer, and societal impact. I am confident that Reliance will keep breaking its own records in business performance next year and beyond.”
Sharing details of RIL’s business and financial performance, Ambani said: “In FY-25, Reliance delivered record consolidated revenue of Rs 10,71,174 crore ($125.3 billion), becoming India’s first-ever company to cross $125 billion in annual revenues. Reliance’s EBITDA [Earnings Before Interest, Taxes, Depreciation, and Amortization] stood at Rs 1,83,422 crore ($21.5 billion) and net profit grew to Rs 81,309 crore ($9.5 billion). Reliance’s exports were Rs 2,83,719 crore ($33.2 billion), contributing 7.6 per cent of India’s total merchandise exports. Your company invested cumulatively Rs 5.6 lakh crore ($65.5 billion) over the last three years. And it remains the single largest contributor to the national exchequer, contributing Rs 2,10,269 crore ($24.6 billion) in FY-25.
“In the last six years, Reliance’s contribution to national exchequer has crossed Rs 10 lakh crore ($117.0 billion). I am also proud to report that Reliance’s CSR spending in FY-25 rose to Rs 2,156 crore ($252 million). Our cumulative CSR expenditure over the last three years has crossed Rs 5,000 crore ($585 million). This is a clear reflection of our unwavering commitment towards creating a societal impact.”
Ambani also shared RIL’s Value Creation Roadmap for the coming year and beyond, saying: “It is with immense pride, and even greater humility and gratitude, that I look back on our shared extraordinary journey of value creation over the past five decades. In just one generation, Reliance has transformed itself from a Fortune 1000 company to a Fortune 40 global powerhouse, creating over $200 billion in value—all within India.
“We have achieved this by staying true to the First Principles I have often shared with you: One, what is good for India is good for Reliance. Two, build businesses of the future. Three, build them world-class, and at mega scale—the largest and most competitive globally, with the highest standards of governance. Four, invest in world-class talent and cutting-edge technologies. Faithful adherence to these principles has been our value-creation dharma.”
Ambani, while sharing the roadmap for the future, said: “I see our O2C business achieving substantial growth and delivering stable returns as geopolitical tensions subside. I also see rapid, innovation-driven growth in our materials business. We are well-positioned to produce high-value green fuels and chemicals which India and the world will need. Our New and Clean Energy business is being built with a singular purpose: to make India self-sufficient in energy, and to resolve India’s energy trilemma of security, affordability, and sustainability through world-scale giga manufacturing, through round-the-clock renewable electricity, and through green fuels and chemicals at global scale.
“This goal may look impossible to achieve now. But we are laying a robust foundation for our country’s energy transition so that freedom from imports can be achieved by the time India celebrates 100 years of independence in 2047. I am sure that our New Energy business will be a major driver of growth for many decades, with the potential to become as big as our Oil-to-Chemicals business within the next 5-7 years. In scale, ambition, and impact, it will surpass everything Reliance has done so far. It will create unprecedented, perpetual value for both India and Reliance.”
He also touched upon the future of Jio, saying: “Jio today is the largest data company globally. Its multiple inherent strengths guarantee accelerated growth. All of Jio’s 500 million—and growing—subscribers will move to 5G and eventually 6G by 2030. Jio’s home and enterprise digital services businesses are growing at phenomenal speed.”
Moving to Reliance Retail, Ambani called it “synonymous with the consumption basket of over 300 million Indians every month”. “In just five years, it has leap-frogged from the Top-100 to the Top-25 global retailers, powered by an unbeatable physical-digital-B2B network that reaches every corner of India. Retail will continue to grow in both B2B and B2C spaces with our customer-centric, omni-channel strategy. I can clearly see its revenues grow multi-fold in the coming years.”
The RIL chairman also announced the creation of two new large growth engines—RCPL and Reliance Intelligence. “Each of them has the potential to grow larger than our existing business segments. RCPL, as a subsidiary of RIL, is a strategic move to create India’s largest FMCG company. RCPL’s phenomenal growth is guaranteed by the consumption boom in India, our world-class supply chain, and advanced manufacturing capabilities. Our new Intelligence business will drive the AI revolution in India. This will enable Indians to adopt AI at scale and make our country a global force in AI.
“Recognising these strengths, Gartner, the globally reputed technology research and advisory firm, has ranked Reliance Industries alongside Microsoft, Amazon, Google, Meta, and Alibaba, stating that these entities are the new superpowers, and are “setting the terms for the next global economy”.
Ambani noted that RIL’s value creation philosophy is deeply rooted in its work culture. “The work culture of Reliance is guided by a wise principle Mahatma Gandhi propagated nearly a century ago: “A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him.”
“With this principle, we have fundamentally changed the operating model of all our consumer-facing businesses—we do not sell, we serve. Our engagement with customers, suppliers, and partners is not transaction-based; it is trust-based, and therefore enduring.
“The national wealth, employment, and societal impact created by our businesses and philanthropic initiatives are already so huge that they make me both humble and proud. But the best of Reliance is yet to come. In 2022, I made a promise that we will double Reliance by the end of our Golden Decade in 2028. At that time, our EBITDA was about Rs 1.25 lakh crore ($ 14.6 billion). I reiterate that Reliance will more than double its EBITDA by the end of its Golden Decade.”
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