Reliance Industries AGM LIVE updates: RIL Chairman Mukesh Ambai says the company has set a goal to bring 100 million users to JioPhone in the shortest possible time. Reliance Industries Limited (RIL) Chairman Mukesh Ambani is likely to announce the commercial launch of wired broadband service JioFiber at the company’s 41st annual general meeting (AGM) in Mumbai on Thursday. Ambani will also announce the price plans for its optic fiber business. JioFiber has already been launched in select markets across the country. It currently offers fibre-to-the-home (FTTH) broadband connections with 1.1TB (terabytes) of free data at a speed of 100 mbps. Last month, Reliance Jio secured a $1-billion worth of term loan from a slew of foreign banks led by ANZ Bank and HSBC and covered by the Korea Trade Insurance Corporation (K-Sure) to finance its procurements from Samsung and Ace Technologies. [caption id=“attachment_4669421” align=“alignleft” width=“380”]
A file photo of Mukesh Ambani. Reuters[/caption] The term loan, the fourth for the Reliance Industries in the past five years and the second covered facility for Jio in the past three years, was arranged on June 22, the company said in a statement. “The term loan facility will be used to finance goods and services procured primarily from Samsung and Ace Technologies,” Jio said. The loan has door-to-door tenor of 10.75 years, and is the largest deal in the country as well as the largest deal supported by it in the telecom sector globally, it said. The facility was arranged by Australia & New Zealand Banking Group, HSBC, BNP Paribas; Commerzbank, Citibank, ING Bank, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, and Banco Santander. With inputs from PTI
Reliance AGM 2018 updates: Mukesh Ambani says Jio GigaFibre to redefine 24/7 emergency help for all homes
Reliance JioFiber has already been launched in select markets across the country. It currently offers fibre-to-the-home (FTTH) broadband connections
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Jio can usher a smart green revolution
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Reliance Foundation’s rural transformation initiatives are focused on establishing strong market linkages for farmers and leveraging technology for better reach and impact. The initiatives now reach out to over 13,500 villages in 15 states: Mukesh Ambani at #RILAGM
— Flame of Truth (@flameoftruth) July 5, 2018
Connecting 1,100 cities
Talking about the wired broadband foray – Jio GigaFiber – at the 41st annual general meeting (AGM). RIL boss Mukesh Ambani said: “The Company has already invested more than 250 million dollars in the industry. We will now extend the service to 1100 cities to offer the most advanced fibre-based broadband services. This will mean a faster internet experience. A virtual reality experience for all citizens where you can control switches in your house from outside as well. This will redefine 24*7 emergency help for all homes across India. We are calling this the Jio GigaFibre.”
RIL to maximise oil to chemicals conversion, to upgrade all fuels to high-value petrochemicals
Ambani said that as the world migrates from fossil fuels to renewable energy, the company will maximise its oil to chemicals conversion and upgrade all of its fuels to high-value petrochemicals. “The hydrocarbon business is thus posed for robust value creation and exciting times ahead,” he said.
Ambani said that these initiatives will enhance the company’s capabilities and competencies, making it future-ready.
Recycling PET bottles
RIL boss Mukesh Ambani says Reliance is now the largest recycler of PET bottles in India.
“We have produced the largest amount of globally efficient ethylene cracker in the Jamnagar unit. We are also adding composites and carbon fibre in our production portfolio. This makes RIL the most diversified company in the country,” Ambani said.
Jamnagar completes 20 years of operation
Strong media presence
Mukesh Ambani says RIL now has one of India’s largest media and entertainment networks in its portfolio and that it is the partner of choice for foreign media firms operating in the country.
Get a Jio Phone for just Rs 501
“Monsoon Hungama” – users can trade-in their feature phones for a Jio Phone, for just Rs 501. Furthermore, Jio Phone 2 will be available at Rs 2,999 from 15 August, 2018.
Jio sets target to bring 100 million users on JioPhone
Reliance launches Jio Giga Router and Jio Smart Home Solutions
Features of Jio GigaFiber
Jio GigaFiber will provide ultra high-definition entertainment on large screen TVs, multi-party video conferencing from a living room, voice-activated virtual assistance, virtual reality gaming, digital shopping and immersive experiences, Mukesh Ambani said at the AGM.
What is fixed-line broadband?
For large enterprises, fixed-line broadband will mean having the ability to compete in the global marketplace, using digital tools and techniques that are powering the fourth industrial revolution, Mukesh Ambani said.
For merchants and small businesses, fixed-line broadband means when you combine fixed-line connectivity with the agility and customer obsession of a small owner-driven business you empower them to compete on level terms with larger businesses.
Akash Ambani and Isha Ambani take the stage
Facebook, YouTube and WhatsApp now available on the Jio Phone. The Ambani siblings announce that Facebook, YouTube and WhatsApp will now be available on the Jio Phone.
The Jio road map
The company has doubled customer base to over 215 million within 22 months of start. “It is a record that no technology company has been able to achieve anywhere in the world,” Ambani said.
Ambani to address shareholders at the 41st AGM shortly
Highlights from Q4 results:
RIL’s consolidated net profit for the fourth-quarter (January-March) of fiscal 2017-18 stood at Rs 9,435 crore, up by 17.3 percent on a year-on-year basis.
The company had posted a net profit of Rs 8,046 crore for the corresponding quarter of fiscal 2016-17. The company’s consolidated revenue stood at Rs 1,29,120 crore, up 39 percent during Q4 FY 18, compared to the Rs 92,889 crore posted in the corresponding quarter a year ago.
“FY 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion with each of our key businesses – refining, petrochemicals, retail and digital services achieving record earnings performance,” Ambani said in April.
Jio and retail accounted for 13.1% of RIL’s consolidated segment EBITDA in FY18
Fom a mere 2 percent in FY 2016-17, Jio and retail accounted for 13.1 percent of RIL’s consolidated segment EBITDA in FY 2017-18. “This was achieved notwithstanding a sharp 33.6 percent spurt in consolidated EBITDA to Rs 74,184 crore,” Ambani said.
In the very first year of commercial operations, the digital services business recorded a revenue of Rs 23,916 crore.
Reliance’s gross debt was at Rs 2,18,763 crore during 2017-18, which includes a standalone gross debt of Rs 58,392 crore of Reliance Jio.
–PTI
Reliance Jio’s growth
The company reportedly had 186.6 million subscribers as of 31 March, 2018, up by around 83 million when compared to 2016-17, with an average revenue per user of Rs 137 per month.
“Our new-age consumer businesses achieved leadership positions nationally – their growth rates outpacing the best in the world. Jio, now the world’s largest and fastest growing mobile data network, stunned the world and made us proud by turning profitable in the very first year of operations,” Ambani said in June.
Ambani to announce key strategies for Reliance Jio
Mukesh Ambani at the company’s annual general meeting is expected to announce key strategies Reliance Jio. The company is looking at covering 99 percent of India’s population by the end of the current fiscal.