Reliance Industries set for next level of growth: Mukesh Ambani
India’s most valuable company, Reliance Industries Ltd (RIL), is poised to embark on its "next level of growth" after a period of significant capital expenditure, according to Chairman and Managing Director Mukesh Ambani.
LD Web Desk 
In the company's 2023-24 annual report, Ambani highlighted the consolidation of RIL’s balance sheet, positioning the conglomerate for future expansion.
“Reliance has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth. Our constant endeavor to find solutions for India and Indians has helped us spot multiple growth opportunities that have expanded our business portfolio,” Ambani said.
RIL, traditionally focused on fossil fuels, is now diversifying into clean energy, telecom, retail, and media. Ambani expressed confidence in the company's future, emphasizing that RIL’s strategic moves have not only enhanced investor wealth but also strengthened shareholder faith, which will drive continued growth and value creation.
“The global economic scenario remained volatile, causing considerable headwinds. But the strategic depth of our businesses, talented business teams, and resilient domestic markets helped Reliance navigate the obstacles,” Ambani stated. “Our strong balance sheet is a testament to our prudent business and financial management strategies, which help us maximize cash profits.”
Ambani also highlighted India’s rising prominence on the global economic stage, attributing the nation’s success to robust growth across sectors and the collective efforts of its 1.4 billion citizens. He noted that RIL became the first Indian company to surpass a market capitalization of Rs 20 lakh crore in February 2024.
“In this world of volatility and uncertainty, India is shining as a beacon of stability and prosperity,” Ambani said. “Robust growth across all sectors, fueled by the collective ‘can do’ spirit of 1.4 billion Indians and bolstered by our rich heritage, is steadily driving the nation’s economic progress.”
On the decarbonization front, Ambani reiterated RIL’s commitment to achieving its net carbon zero target. He shared updates on the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, which is rapidly taking shape and will become one of the world’s largest integrated renewable energy manufacturing facilities. The company is also exploring various technologies for carbon capture and recycling.
RIL’s focus on clean energy and sustainable practices, coupled with its strong financial management, positions it to continue leading in an increasingly volatile global market.
