Reliance Industries AGM: Key expectations from the Street

Dalal Street will closely track billionaire Mukesh Ambani’s address to 44 lakh shareholders of Reliance Industries Ltd. (RIL) at its 48th Annual General Meeting (AGM) on Friday, August 29.

Investors will watch for updates across digital, retail, new energy and oil & gas businesses, alongside any potential value-unlocking moves.

What to expect?

At Reliance’s 48th AGM, investors will be watching closely for updates on consumer and enterprise digital services. The market will also be looking for clarity on Reliance’s plans in fast fashion and quick commerce, two areas where the company has been scaling up aggressively to capture new consumer trends.

Another area of focus will be the new energy business, where progress updates are likely to be viewed positively.

Reliance: Value unlocking?

Beyond business updates, shareholders will also be watching for any potential value-unlocking announcements.

In 2019, Reliance had indicated plans to list its telecom and retail arms within five years. Investors will be keen to hear if there is any movement on that front.

Reliance: Oil-to-Chemicals (O2C) biz

RIL is targeting capex through FY27, including:

Polyester: 5 mtpa

Vinyl: 3.9 mtpa

Carbon Fibre: 20 ktpa

Global oil demand dynamics will also shape the outlook. While new refinery ramp-ups in 2025 may pressure product cracks, expected closures could create upside potential for refining margins.

Demand for downstream chemical products in India is expected to grow higher than GDP, driven by infrastructure, packaging, auto and agriculture.

Reliance: Oil & Gas biz

Current production: 28.5 mmscmd

Share of India’s gas supply: 30%
Reliance Industries plans to drill additional wells at the KG-D6 basin by H2CY28 to boost output and offset natural decline.

New Energy business

Reliance Industries is building an integrated facility for polysilicon-to-modules, electrolysers and battery manufacturing. It expects the platform to be operational in 4-6 quarters and to become self-funded in the next few years.

Progress so far

– Engineering and procurement completed

– Equipment deliveries scheduled for 2025

– First gigawatt-scale solar PV module line already commissioned

Note To Readers

Disclaimer: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.

First Published: 

Aug 28, 2025 8:55 AM

IST