This year marks two decades of Mukesh Ambani’s leadership at Reliance Industries. Ambani took over the company in July 2002 and the company has seen exponential growth since then. Here’s a look at the key highlights during the past 20 years.
In July 2002, 45-year-old Mukesh Ambani took over Reliance Industries after the demise of his father, the late Shri Dhirubhai Ambani. Since then, Reliance has achieved a consistent and strong double-digit growth.
The market capitalisation of Reliance rose at an annualised rate of 20.6 percent in the past 20 years.
Most financial metrics have seen growth in the high teens in the past two decades. Revenue and net profits have risen 15-16 percent on an annualised basis in this period.
The gains are not just for the group to enjoy — Reliance has successfully and consistently generated wealth for its investors.
Reliance has also displayed agility and relevance by investing in new and upcoming businesses.
Reliance Jio started operations in 2016, this led to the cost of data per gigabyte (GB) falling following its launch.
India’s ranking in broadband data consumption also moved up.
At the same time, the traditional refining and petrochemical business continued expanding. From a single refinery in 2002, Jamnagar is now the world's largest single-location refining complex.