Reliance Industries Limited (RIL) has disclosed multiple corporate developments, including strategic investments and operational updates across various business segments. The company continues to expand its presence in diverse sectors, from renewable energy to digital platforms and retail.

Key Highlights

Digital and Telecom

• Jio Platforms Limited received ₹43,574.00 crore from Facebook's subsidiary Jaadhu Holdings for a 9.99% stake.
• Google International LLC completed a ₹33,737.00 crore investment for a 7.73% stake in Jio Platforms Limited.

Retail Ventures

• Abu Dhabi Investment Authority invested ₹4,966.80 crore in Reliance Retail Ventures Limited (RRVL) for a 0.59% stake, valuing RRVL at ₹8,38,100.00 crore.
• Silver Lake invested ₹7,500.00 crore in Reliance Retail Ventures at a ₹4,21,000.00 crore valuation.

Renewable Energy Investments

• Reliance New Energy Limited invested ₹50.16 crore in Altigreen Propulsion Labs for electric vehicle technology.
• RIL's Board of Directors approved the acquisition of two solar power companies: MSKVY Nineteenth Solar SPV Limited and MSKVY Twenty-second Solar SPV Limited.
• The solar acquisition is part of a 128 MW project in Maharashtra under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 scheme.

Corporate Governance and Regulatory Updates

• SEBI imposed a ₹30.00 lakh penalty on the company and officials for disclosure violations related to the Jio-Facebook deal timing.
• The company announced postal ballot voting for board appointments including Haigreve Khaitan and Yasir Othman H. Al Rumayyan as independent directors, and P.M.S. Prasad's reappointment as executive director.
• The company confirmed no deviation in Rights Issue fund utilization of ₹13,275.19 crore.
• National Company Law Tribunal sanctioned the Reliance-Disney joint venture scheme.

Other Investments and Transactions

• The company invested ₹378.00 crore in data center companies.
• Nauyaan Tradings acquired an additional 10% equity in Nauyaan Shipyard for ₹51.72 crore.
• Completed various other transactions including employee stock option allotments and subsidiary acquisitions.

Financial Performance

• Quarterly results showed consolidated revenue of ₹232,863.00 crore with a net profit of ₹15,512.00 crore.

These developments underscore Reliance Industries' continued focus on diversification and strategic growth across multiple sectors. The company's investments in renewable energy, particularly the solar power acquisitions in Maharashtra, align with its broader strategy to expand its presence in the clean energy sector. Meanwhile, partnerships with global tech giants like Facebook and Google, and investments in retail and digital platforms demonstrate RIL's commitment to strengthening its position in the digital and consumer markets.

Reliance Industries Limited (RIL) has reported robust financial results for the fiscal year 2022, demonstrating significant growth across its various business segments. The company has also announced several key developments across its business portfolio, including a major bonus issue.

Financial Highlights

Dividend and Bonus Issue

• The Board of Directors has recommended a dividend of ₹8.00 per equity share for FY22.
• RIL's board approved a 1:1 bonus issue, described as the largest bonus issue in Indian equity markets.
• The board recommended issuing one new fully paid-up equity share of ₹10 for every existing fully paid-up equity share, subject to shareholder approval through postal ballot.

Segment-wise Performance

Oil to Chemicals (O2C)

• Revenue: ₹500,900.00 crore

Digital Services

• Revenue: ₹100,161.00 crore

Retail

• Revenue: ₹199,749.00 crore

Corporate Actions and Strategic Developments

• The company approved increasing authorized share capital from ₹15,000 crore to ₹50,000 crore.
• Forfeiture of partly paid-up equity shares if call money remains unpaid by September 20, 2024.
• Jio Financial Services Limited allotted 635.32 crore equity shares to RIL shareholders as part of a scheme of arrangement.
• The company received CRISIL AAA/Stable rating for ₹20,000 crore non-convertible debentures.
• Three new non-executive directors were appointed: Isha M. Ambani, Akash M. Ambani, and Anant M. Ambani.
• Reliance Brands formed a joint venture with Mothercare plc for South Asian operations, acquiring 51% stake for £16 million.
• ICRA Limited reaffirmed credit ratings of '[ICRA]AAA (Stable)' for Non-convertible Debentures and '[ICRA]A1+' for Commercial Paper.
• L Catterton invested ₹1,894.50 crore in Jio Platforms for a 0.39% equity stake, valuing the platform at ₹4.91 lakh crore equity value.
• General Atlantic invested ₹3,675 crore in Reliance Retail Ventures for a 0.84% stake at a pre-money valuation of ₹4.285 lakh crore.
• Reliance Digital Health Limited acquired a 45% equity stake in Health Alliance Group Inc. for USD 10 million.
• Jio announced its 5G rollout across 50 cities in 17 states, bringing total coverage to 184 cities.
• The company dissolved Reliance Eagleford Upstream LLC, with Reliance Marcellus LLC becoming a direct wholly owned subsidiary.
• Reliance allotted 30,000 equity shares under its Employee Stock Option Scheme.
• Reliance Strategic Business Ventures increased its shareholding in SkyTran Inc. to 26.31%.
• Reliance partnered with ADNOC for chemical projects at TA'ZIZ in Ruwais, Abu Dhabi.
• Reliance Industries completed the transfer of its gasification undertaking to Reliance Syngas Limited for ₹30,490.00 crore.

Reliance Industries' strong financial performance, bonus issue announcement, and strategic developments across its diverse business portfolio underscore the company's resilience and growth strategy in the Indian market.