Business tycoon Mukesh Ambani completed 20 years at the helm of Reliance Industries Ltd this week, growing the homegrown giant 42 times bigger in the market cap than that when he took over. Mukesh Ambani took over the reins of RIL after the demise of his father Dhirubhai Ambani in the year 2002. Under his leadership, Reliance diversified into a consumer business giant from being an energy and textiles behemoth earlier, with Mukesh Ambani’s retail and telecom ventures. His latest foray into renewable energy is equally ambitious, with an outlay of Rs 75,000 crore.
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During his tenure at the top spot, Reliance Industries market capitalisation ballooned from Rs 42,000 crore in 2002 to Rs 17.81 lakh crore in 2022, growing at a CAGR of 20.6 per cent. Of this, almost all – Rs 17.4 lakh crore – has been added during Mukesh Ambani’s tenure. The company saw a 17-fold jump in revenues from Rs 45,411 crore to Rs 792,756 crore. This is 15.4% CAGR over 20 years. Meanwhile, the net profit surged 20 times, from Rs 3,280 crore to Rs 67,845 crore, growing at 16.35% CAGR.
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On the occasion of his 20 years completion at the help of the company, Mukesh Ambani said that Reliance Industries will grow bigger and bigger like the proverbial banyan tree. “Years will roll by and decades will pass, Reliance will continue to grow bigger and bigger like the proverbial banyan tree. Its branches will spread wider, its roots will go deeper, and it will touch the lives of the ever increasing number of Indians, enriching them, empowering them, nourishing them, and caring for them,” he said in a webcast.
