Reliance Industries made several significant announcements at its 48th Annual General Meeting, including plans for a massive solar project, Jio's initial public offering (IPO), the launch of a new artificial intelligence subsidiary, major New Energy initiatives, and its entry into the robotics sector. Additionally, Reliance Jio reported substantial subscriber growth in July and announced a restructuring of its consumer products business.

Jio IPO and AI Initiatives

Reliance Industries Chairman Mukesh Ambani announced that Reliance Jio will file for its IPO and aims to list by the first half of 2026, with preparations currently underway. The company revealed three major AI initiatives:

• Launching an AI subsidiary called Reliance Intelligence
• Forming partnerships with Google and Meta
• Establishing an ₹855.00 crore joint venture with Meta where RIL will hold 70% stake

The Meta joint venture, expected to close in Q4 2025, will provide enterprise-grade AI services to Indian businesses at reduced costs. Google will establish a dedicated Jamnagar Cloud region for Reliance, offering AI services across the company's energy, retail, telecom and financial services divisions.

Reliance Intelligence will focus on building gigawatt-scale AI-ready data centres in Jamnagar and developing AI services for consumers and enterprises across education, healthcare, and agriculture sectors.

New Energy Initiatives

Reliance Industries announced multiple New Energy initiatives:

• Launched 55 Compressed Biogas (CBG) plants this year, with plans to scale to over 500 plants by 2030
• Established the world's largest Bioenergy Technology and R&D Centre at Jamnagar
• Creating integrated energy hubs on wastelands, combining smart farms, modular CBG and green hydrogen plants, agrivoltaics, and battery storage
• Developing advanced enzymes, microbial consortia, and high-yield energy crops to enhance biogas productivity
• Implementing agrivoltaics initiative allowing CBG production alongside solar power on the same land

Massive Solar Project in Kutch

Chairman Mukesh Ambani announced the development of one of the world's largest single-site solar projects:

• Location: Kutch, Gujarat
• Area: 550,000 acres
• Capacity: 55 MW of solar modules and 150 MWh of battery containers daily at peak operations
• Potential: Meeting 10% of India's electricity needs within a decade

Solar PV Manufacturing and Green Energy Initiatives

• Produced first 200 MW of heterojunction technology modules
• Plans to expand to 10 GWp annually, further scaling to 20 GWp
• Constructing battery and electrolyser giga factories:
  • Battery facility: Starting operations in 2026 with 40 GWh annual capacity
  • Electrolyser facility: Beginning by end-2026 with 3GW yearly capacity
• Targets 3MTPA green hydrogen production by 2032
• Plans to produce green ammonia, green methanol, and sustainable aviation fuel

Robotics Entry and International Expansion

Mukesh Ambani announced Reliance's entry into robotics, describing it as the next big frontier for artificial intelligence. The company aims to make India a global leader in human-centric robotics powered by AI, with plans to transform factories, warehouses, and hospitals through intelligent automation.

Additionally, RIL announced plans to expand Jio operations outside India, marking a significant step towards international growth.

Retail and Energy Initiatives

Mukesh Ambani announced:

• Ambitious targets for Reliance Retail, aiming for revenue growth of over 20% CAGR over the next three years
• Plans to scale up green hydrogen production capacity to 3 million metric tons annually by 2032

Financial Performance

Reliance's Oil-to-Chemicals business achieved:

The company also announced a ₹75000.00 crore investment in new industrial projects.

Future Outlook

Reliance Industries aims to:

• More than double its EBITDA by 2027
• Achieve significant growth in the new energy sector
• Reach Net Carbon Zero by 2035

Jio's Subscriber Growth

Reliance Jio reported substantial subscriber growth in July, gaining 482,954 new mobile subscribers during the month. This growth further solidifies Jio's position in the competitive Indian telecom market and aligns with the company's broader strategic initiatives, including the planned IPO in 2026.

Consumer Business Restructuring

Reliance Industries announced a restructuring of its consumer products business, making Reliance Consumer Products Ltd (RCPL) a direct subsidiary. Executive Director Isha Ambani stated this will consolidate all consumer brands into a single focused company, enabling independent operations and faster response to market trends. RCPL has achieved revenues of ₹11500.00 crore in three years, positioning itself as India's fastest-growing FMCG player. Key brands include Campa Cola, which broke a 30-year multinational duopoly, and Independence brand, which crossed ₹1000.00 crore in revenues. The company has expanded internationally to West Asia, Sri Lanka, Nepal, and West Africa, with plans to enter 25 countries within 12 months. Ambani highlighted India's consumer market as a $2 trillion opportunity growing at over 8% annually, with 350 million middle-class households having combined purchasing power exceeding ₹100 lakh crore.

Reliance Industries Limited (RIL) is set to hold its 48th Annual General Meeting (AGM) on Friday, August 29, with Chairman Mukesh Ambani addressing an audience of 44 lakh shareholders. The event is expected to shed light on the conglomerate's diverse business segments and future strategies.

Key Focus Areas

Investors are eagerly awaiting updates across RIL's major business verticals:

1. Digital Services: Insights into consumer and enterprise digital offerings are anticipated.
2. Retail: Expansion plans for fast fashion and quick commerce segments are expected to be discussed.
3. New Energy: Progress updates on the company's foray into renewable energy.
4. Oil & Gas: Developments in the traditional core business of RIL.

Potential Value-Unlocking Announcements

A significant point of interest for shareholders is the possibility of value-unlocking announcements. Investors are particularly attentive to any news regarding the potential listing of RIL's telecom and retail arms, following a 2019 indication of such plans within a five-year timeframe.

Business-Specific Updates

Oil-to-Chemicals (O2C)

RIL has outlined ambitious capital expenditure plans through FY27 for its O2C business:

Oil & Gas

The company's Oil & Gas division currently boasts a production of 28.50 million standard cubic meters per day (mmscmd), accounting for 30% of India's gas supply. RIL plans to enhance this further by drilling additional wells at the KG-D6 basin by the second half of 2028.

New Energy

RIL is making significant strides in its New Energy business:

• Construction of an integrated facility for polysilicon-to-modules, electrolysers, and battery manufacturing is underway.
• The facility is expected to be operational within 4-6 quarters.
• Engineering and procurement phases are completed.
• Equipment deliveries are scheduled for 2025.
• A notable milestone has been achieved with the commissioning of the first gigawatt-scale solar PV module line.

Conclusion

As Reliance Industries continues to diversify and expand its business portfolio, the 48th AGM stands as a crucial event for investors and market watchers. The meeting is expected to provide valuable insights into the company's progress across its various segments and offer a glimpse into its future strategies and potential structural changes.

Shareholders and analysts will be closely monitoring Chairman Mukesh Ambani's address for any significant announcements that could impact the company's growth trajectory and market valuation in the coming years.