Consumer companies increase RIL consolidated turnover to Rs 5.4 lakh crore in fiscal year 21, Retail News, ET Retail
“As India’s largest trading company, Reliance’s contribution to the Indian economy remains unmatched. At Rs 1.45 lakh crore, we continue to be India’s largest exporter accounting for 6.8 % of India’s total merchandise exports to 107 countries, “Ambani said while addressing the company’s 44th annual general meeting was held virtually. Even in a tough environment, Reliance has created nearly 75,000 new jobs in the past year. “We are committed to creating and enabling large-scale employment opportunities, which is one of India’s most urgent national tasks,” he said.
Reliance continues to be India’s largest private sector customs and excise payer with payments of Rs 21,044 crore. It is among the biggest payers of GST and VAT at Rs 85,306 crore. It is also among the biggest payers of income tax in the private sector, paying Rs 3,213 crore.
In fiscal 2021, Reliance achieved the largest capital increase ever by a company globally in a year, despite challenges from Covid. The capital increases exceeded Rs 3.24 lakh crore thanks to equity in Jio Platforms and Retail, the issuance of rights and the monetization of assets. Investors included some of the top reputable names across the world among sovereign wealth funds and private equity.
“This capital increase is a strong vote of confidence from global investors in India’s growth potential. It reflects their faith in the ability of the company’s management to execute ambitious projects and value creation plans. long term, ”Ambani said. Reliance’s retail shareholders have made 4x returns in just one year on their rights stocks.
“All of this helped Reliance achieve a net debt-free balance sheet well before March 2021, a promise I made two years ago,” Ambani said.