Every year, the Reliance Annual General Meeting (AGM) isn’t just a corporate event; it’s a barometer for India’s economic trajectory and technological future. The 48th Reliance AGM 2025, held on the auspicious occasion of Ganesh Chaturthi, was no exception. With global economies navigating significant uncertainty and geopolitical tensions, Reliance Industries Limited (RIL), a true powerhouse that has transformed from a Fortune 1,000 company to a Fortune 40 global powerhouse, laid out an ambitious roadmap that could redefine several sectors. This year’s address highlighted RIL’s unwavering commitment to an “India first” development model, leveraging deep tech to bring prosperity and security to the nation.
From groundbreaking AI initiatives and ambitious green energy plans to the stunning performance of its digital and retail arms, Reliance AGM 2025 offered a treasure trove of insights for every Indian investor. Whether you’re a seasoned trader or just starting your investment journey, understanding Reliance’s vision is crucial.
You can watch the full Reliance AGM 2025 proceedings here or see below for Key highlights:
Key Highlights from the Reliance AGM 2025
The 48th Reliance AGM 2025 was packed with significant announcements, painting a vivid picture of a company poised for hyper-growth across multiple domains.
1. Stellar Financial Performance – Reliance delivered record-breaking financial results for the financial year ended March 31, 2025:
- Record Consolidated Revenue: ₹10.71 lakh crores, making it India’s first-ever company to cross $125 billion in annual revenues.
- EBITDA: ₹1,83,422 crores.
- Net Profit: Grew to ₹81,390 crores.
- Exports: Stood at ₹2,83,719 crores, contributing a substantial 7.6% of India’s total merchandise exports.
- Investments: Cumulatively invested ₹5.6 lakh crores in the last three years.
- National Exchequer Contribution: ₹2,10,269 crores in FY25, with a cumulative contribution exceeding ₹10 lakh crores over the last six years.
- Jio’s Financials: Achieved revenues of ₹1,28,218 crores (17% year-on-year growth) and an EBITDA of ₹64,700 crores.
- Reliance Retail’s Growth: Gross revenues grew 8% to ₹3,30,943 crores, and EBITDA rose 8.6% to ₹25,940 crores.
- Reliance Consumer Products Ltd (RCPL): Achieved a turnover of ₹11,500 crores in its very first year, making it the fastest-growing FMCG company ever.
- E&P Business: Delivered a record EBITDA of ₹21,180 crores.
- Oil to Chemicals (O2C): Recorded 11% revenue growth to ₹6,26,921 crores and an EBITDA of ₹54,988 crores.
- EBITDA Doubling: Mukesh Ambani reiterated his promise to more than double Reliance’s EBITDA by the end of its “golden decade” in 2027.
2. Ambitious Business Strategy & Future Plans Reliance is resolutely transforming its operating model to become a deep tech company with advanced manufacturing capabilities, making every business “AI native”.
- Jio’s Vision: Having crossed 500 million customers, Jio aims to:
- Connect every Indian on mobile and home broadband.
- Empower every Indian home with digital services like Jio Smart Home, Jio TV Plus, and seamless automation.
- Digitize every Indian business and enterprise.
- Herald the AI revolution in India with the motto “AI everywhere for everyone”.
- Expand operations outside India.
- Introduced proprietary Home Connect technology (UBR) for gigabit home broadband and Jio Air Fiber as the world’s largest fixed wireless provider, adding over 1 million homes per month.
- Unveiled “digital twin” technology for instant network planning, Jio AI Cloud as an AI-powered memory companion and creation hub, GOPC to transform TVs into AI-ready computers, and Jio Frames, an AI-powered wearable platform.
- Media & Entertainment (Jiostar):
- Now the world’s second-largest streaming platform with 300 million paying subscribers and over 600 million users within three months of launch.
- Offers 3.2 lakh hours of content, adding 30,000 hours annually.
- Introduced RIA, an AI voice-enabled search assistant; Voice Print, which enables AI voice cloning and lip-sync for dubbed content; and Jio Lens and Max View 3.0 for immersive viewing experiences, especially for sports.
- Confirmed a strong partnership with The Walt Disney Company, with Bob Iger, CEO of Disney, addressing the AGM.
- Reliance Retail’s Growth Runway:
- Aims for 20%+ CAGR in retail revenues over the next three years.
- Plans to continue store expansion (2,000-3,000 new stores annually), adding to its 19,340 stores covering 77 million sq ft.
- Online channels, currently a high single-digit share, are projected to grow to over 20% within three years.
- Empowers 42 lakh merchants, kiranas, and traders through B2B formats.
- Reliance Consumer Products Ltd (RCPL):
- Will become a direct subsidiary of Reliance Industries, consolidating consumer brands.
- Aims to be the fastest-growing FMCG player in India, with a target to enter at least 25 countries in the next 12 months and reach ₹1 lakh crore turnover within five years.
- Invested ₹3,000 crores in 12 state-of-the-art facilities and plans to invest ₹40,000 crores over the next three years to create Asia’s largest integrated food parks.
- New Energy Business: Mukesh Ambani’s “most ambitious and transformational mission”
- Building the world’s most integrated new energy ecosystem from sand to electrons to green molecules.
- Dhubai Ambani Giga Energy Complex in Jamnagar is progressing at a record pace, designed to be unmatched globally in size, scale, and integration.
- Operational solar PV manufacturing is scaling to 10 GW, then 20 GW per annum, globally the largest single-site solar complex.
- Battery gigafactory starting in 2026 (40 GWh/year, expanding to 100 GWh/year) and electrolyze gigafactory operational by end 2026 (scaling to 3 GW/year).
- Developing one of the world’s largest single-site solar projects in Kutch, aiming to meet nearly 10% of India’s electricity needs.
- Targeting 3 million metric tons per annum of green hydrogen by 2032.
- Building 55 Compressed Biogas (CBG) plants, targeting over 500 by 2027, with the world’s largest bio-energy R&D center in Jamnagar.
- Employment Generation: The workforce has grown to nearly 6.8 lakh people and is expected to exceed 10 lakh in the coming years.
3. Key Shareholder Announcements
- Jio IPO: Reliance is making all arrangements to file for Jio’s IPO, aiming to list it by the first half of 2026, subject to necessary approvals. This is a major opportunity for investors to participate directly in Jio’s growth story.
- RCPL Subsidiary: Reliance Consumer Products Limited is set to become a direct wholly-owned subsidiary of Reliance Industries, a strategic move to focus exclusively on its markets and customers and accelerate its growth.
4. Management Commentary: India’s Unstoppable Rise
- Mukesh Ambani emphasized that despite global uncertainties, “India is on the rise and India’s rise is unstoppable.” He stated that India’s GDP is growing faster than all major economies, with the potential to grow at 10% annually, raising per capita income four to five times within two decades.
- He called for an “India first” development model, harmonizing technology with democracy, economy with culture, and spirituality with science.
- He highlighted Reliance’s DNA of “relentless reinvention and re-imagination”.
- Ambani underscored the customer-centric philosophy: “We don’t sell, we serve.”.
- He urged all Indian businesses to work together in a “grand coalition” for India’s economic strength and self-reliance.
- Bob Iger of Disney and Mark Zuckerberg of Meta praised Reliance’s vision and impact, affirming the significance of their partnerships in India’s digital future.
5. The AI Revolution: Reliance Intelligence and Global Partnerships AI is at the heart of Reliance’s transformation,
- Reliance Intelligence: A new wholly-owned subsidiary formed with four clear missions:
- Building gigawatt-scale AI-ready data centers powered by green energy.
- Forging global partnerships to deliver performance leadership and India-first compliance for AI.
- Building trusted, easy-to-use AI services for consumers, businesses, and critical sectors.
- Creating a home for world-class AI talent.
- Google Partnership: A deeper, holistic partnership for AI with Google, establishing a dedicated Google Cloud region for Reliance powered by clean energy and Jio’s network. Sundar Pichai, CEO of Alphabet and Google, noted the immense AI opportunity in India, transforming every industry.
- Meta Joint Venture: A new India-focused AI joint venture with Meta to combine open-source AI models and tools (like Llama) with Reliance’s domain knowledge across industries. Mark Zuckerberg, Founder and CEO of Meta, sees this as a key step to ensure everyone has access to AI and eventually “super-intelligence”.
- Robotics: Reliance is investing to make India a leader in human-centric robotics powered by AI, transforming industries from factories to hospitals.
6. Social Impact Initiatives: Reliance Foundation’s Expanding Reach Nita Ambani presented the incredible impact of Reliance Foundation over 15 years, reaching over 87 million Indians across 91,500 villages.
- Healthcare: Sir HN Reliance Foundation Hospital has served 3.3 million Indians. A new 2,000-bed medical city and a transformative medical college are planned in Mumbai.
- Education & Sports: The Education and Sports for All program has reached over 23 million children. Mumbai Indians teams have won 13 global titles, and the foundation is committed to supporting India’s bid to host the 2036 Olympic and Paralympic Games.
- Wildlife Conservation: Vantara, founded by Anant Ambani, has cared for over 1.5 lakh abused, injured, or endangered animals.
- Urban Green Spaces: Reliance is developing the 130-acre coastal road gardens in Mumbai, a new green lung for the city.
- Arts & Culture: The Nita Mukesh Ambani Cultural Centre (NMACC) has showcased the best of Indian and global arts.
- Future Goals: Reliance Foundation aims to amplify its impact five-fold by 2035, reaching 400 million Indians, educating 300 million children, empowering 100 million women, and 15 million rural households.
- CSR Spending: Reliance’s CSR spending in FY25 rose to ₹2,156 crores, with cumulative expenditure over the last three years exceeding ₹5,000 crores.
7. Leadership Succession: The Next Generation Takes the Helm Mukesh Ambani proudly highlighted the evolution of the next-generation leaders – Isha, Akash, and Anant – who have completed two transformative years on the board. They are shaping businesses with energy, conviction, and clarity, supported by hundreds of young leaders. This signals a strong, prepared leadership for Reliance’s future.
What It Means for Investors
For the average Indian investor, the Reliance AGM 2025 signals a period of unprecedented growth and diversification. Here’s what you should take away:
• Growth Engines on Steroids: Reliance is not just relying on its traditional businesses. The announcement of Jio’s IPO in H1 2026 means a direct opportunity to invest in one of India’s largest and most innovative digital companies. The rapid expansion and global ambitions of Reliance Retail and its new subsidiary RCPL tap directly into India’s booming consumption story – something relatable to every middle-class family witnessing new brands and better shopping experiences.
• Betting Big on Future Tech (AI & Green Energy): The formation of Reliance Intelligence and strategic partnerships with Google and Meta shows a serious commitment to leading India’s AI revolution. For investors, this means RIL is positioning itself at the forefront of technologies that will drive the next wave of global economic growth. Similarly, the massive investments in New Energy aim to make India energy self-reliant, creating a huge long-term value proposition that could rival its existing oil-to-chemicals business. This is a strategic pivot for a cleaner, sustainable future, which is attracting global capital and policy support.
• The “India First” Advantage: Mukesh Ambani’s vision of an “India first” model, coupled with the company’s unparalleled scale and distribution networks across rural and urban India, creates a formidable competitive moat. This approach focuses on solving Indian problems with Indian solutions, which resonates strongly with consumers and policymakers.
• Opportunities for Diversification: With a presence across energy, retail, telecom, media, and now deeply into AI and new energy, investing in Reliance offers a diversified exposure to various high-growth sectors of the Indian economy.
• Risks to Consider: While the outlook is overwhelmingly positive, it’s essential to remember the geopolitical uncertainties and persistent volatility in the global economy highlighted by Mukesh Ambani. Execution at such a massive scale also carries inherent risks, and competition in all its sectors remains intense. Investors should monitor market dynamics and regulatory environments closely.
This Reliance AGM 2025 reinforces Reliance’s role as a bellwether for the Indian economy, actively shaping its digital and sustainable future.
Conclusion
The 48th Reliance AGM 2025 was a testament to the company’s relentless ambition and strategic foresight. From record financial performance and Jio’s impending IPO to its deep dive into AI with new subsidiaries and global tech giants like Google and Meta, and its monumental commitment to green energy, Reliance is not just participating in India’s growth story – it’s actively leading and shaping it. The ambitious goals for Reliance Retail, RCPL, and Reliance Foundation further underscore its holistic impact on India.
This is more than just business; it’s a mission to transform India into a global powerhouse. We encourage you to watch the full Reliance AGM 2025 video to grasp the full scope of these exciting developments and form your own informed opinions.
What are your thoughts on Reliance’s vision for India’s future? Share your insights in the comments below!