Reliance Industries Ltd (RIL) commenced its 40th annual general meeting in Mumbai today.
“This year marks the 40th anniversary of our IPO. In just four phenomenal decades, Reliance has grown from a small start to one of the most admired companies in the world,” the company Chairman and Managing Director, Mukesh Ambani, said while addressing shareholders.
“No Indian corporate, and few global corporates have expanded in scale, scope and size,” he added.
“Our turnover has grown from ₹70 crore in 1977 to over ₹3,30,000 crore today, an increase of nearly 4,700 times. Our total assets have increased from ₹33 crore to over ₹7,00,000 crore and a multiple of over 20,000 times,” he added.
“Above all, market capitalisation has multiplied from ₹10 crore to over ₹5 lakh crore,” Ambani said, adding, “in simple terms, this means that your (investors’) money has doubled every two-and-a-half years over the past 40 years,” he said.