In 2022, Mukesh Ambani, the chairman and managing director of Reliance Industries, have completed serving the company for 20 years. Following the passing of his father, Dhirubhai Ambani, the founder of Reliance, on July 6, 2002, the CMD assumed control of the business.
The company has managed to achieve constant, robust double-digit growth in all areas during his 20-year tenure, including revenues, profits, net worth, assets, and market capitalization. Among its many accomplishments, RIL’s market capitalization increased over the past 20 years at an annualised rate of 20.6%, from 41,989 crore in March 2002 to 17,81,841 crore in March 2022.
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Additionally, under him, the company rose its revenues by 15.4% annually, from 45,411 crore in fiscal 2001-02 to 792,756 crore in fiscal 2021-22. Along with increasing revenues, its net profit increased 16.3% from 3,280 billion in fiscal year 2001-2002 to 67,845 billion in fiscal year 2021-22, while exports increased 16.9% from 11,200 billion in fiscal year 2001-2002 to 254,970 billion in fiscal year 2021-22.
Reliance’s net worth increased by 17% annually from 27,977 crore in March 2002 to 645,127 crore in March 2022, while its total assets increased by 18.7% annually from 48,987 crore in March 2002 to 14,99,665 crore. In these two decades, RIL increased investor wealth by 17.4 lakh crore, or an average of 87,000 crore per year, according to a statement from RIL.
Reliance began operating Reliance Jio in 2016 and Reliance Retail in 2006 under Mukesh Ambani’s leadership, and its exploration and production division discovered the first hydrocarbon discovery in late 2002 and began producing in 2009.
The core Reliance businesses of refining and petrochemicals have also prospered and grown significantly during the past two decades. Reliance only operated one refinery in Jamnagar in 2002. By 2009, RIL had virtually doubled its capacity for refining thanks to the construction of a second 100% export-oriented unit (EOU) refinery with the unique ability to turn even the worst crudes into the best exportable fuels.
This became Jamnagar the biggest single-location refining facility in the world. Some of the biggest and most distinctive downstream units in the world were added as part of the Jamnagar phase 3 (J3) expansion from 2012 to 2016. For instance, Reliance installed the biggest refinery off-gas cracker in the world in Jamnagar.
According to the business statement, RIL also added the biggest petcoke gasification unit in the world. In order to diversify feedstock, it also established the first virtual pipeline across the globe to import ethane from the US.
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India became the world’s data capital once Jio launched, and the price per gigabyte (GB) dropped from 500 to 12. According to the statement, Jio was responsible for India’s rise from 150nd place in 2016 to first place in 2018 for broadband data consumption. Residents of tier II and III communities now have access to shopping experiences that are comparable to those found in metro areas because to Reliance Retail.
