The 38th Annual General Meeting of RIL will have Mukesh Ambani, Chairman and Managing Director of RIL ( Reliance Industries Limited) addressing the shareholders of the company.)
Mumbai, Maharashtra, June 7, 2012 -- The 38th Annual General Meeting of RIL will have Mukesh Ambani, Chairman and Managing Director of RIL ( Reliance Industries Limited) addressing the shareholders of the company. Briefing the shareholders about their landmark achievements of all these years and assuring them about an optimistic future, this business tycoon notified the shareholders about all that they would want to know.
He emphasized the significance of transformation that will enable RIL to reinvent itself. He mentioned that partnership would be the key to transformation at RIL, elucidating the example of their present association with BP. 'Partnership' would pave way for unprecedented growth, according to the Chairman of RIL.
He jogged the memory of the shareholders about their breakthrough track record of organic growth and value generation in the last 34 years. He gave the example of how Rs.1000 in RIL's IPO will amplify to Rs.7.78 lakh at present.
Irrespective of the international volatility, domestic inflation and devaluation of the rupee, he asserted that RIL has been embarking varied new projects that will churn high growth rates and enable them to benefit from the feedstock integration. Their nerve to invest and take risks was mirrored with Mukesh Ambani announcing that he will invest Rs. 1 lakh crore in the next five years, as the company presently yields $1billion in free cash every quarter.
He also announced the company's agenda of doubling its operating profits in the next five years. He also assured the shareholders to bolster the KGD6 output to 60 million cubic meters a day in the forthcoming years, aftermath the output from this gas field plunging at present. Referring to the refinery margins, he announced their proposal to increase the margin by 30% to 40% with the investments in refinery downstream.
He was also affirmative about the shale gas production to increase ten times more in the next five years. The present shale gas production accounts to 30 billions of cubic feet.
Catering to the Retail Business, he spoke about the expansion spree that they have embraced. He was also certain of the retail business turning out to be profitable in the next three years. Its retail biz with 1300 retail stores, across the country, will be its catalyst to growth. It will also contribute to the country's growth and development by granting numerous job opportunities.
The launch of 4G will act as a milestone for this corporate behemoth. While it will be the exclusive producer of Rubber in the country, it will also take the plunge for being one among the top 15 producers in the world, with its 290 KTA of PBR/ SBR and Butyl Rubber.
Mukesh Ambani in the 38th General Meeting ensured the shareholders that he will open doors wider for a buoyant future
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