Reliance Annual Greet Meeting: What to expect in retail business
Reliance Industries Limited (RIL) with its stronghold in almost every sector is set to hold its Annual Greet Meeting (AGM) on August 28 with a major focus on its financial services but announcements and a future roadmap for its retail arm could also be expected.
“Expecting disclosures around the retail business to improve over the coming quarters,” said JPMorgan Chase, a leading global financial services firm.
«The Street will want to know further plans for the retail business, which now forms the largest part of RIL’s valuation apart from announcements related to Jio Financial,» reported ET.
Recently, even before the AGM, Reliance Retail made a big announcement that Qatar Investment Authority will pick up a nearly 1 per cent stake in the retail arm, valuing the country’s largest retail firm at $100 billion.
The valuation of the retail business of Ambani has doubled within three years, and this has increased the noise of a possible initial public offer (IPO) of Reliance Retail on the Street, said ET.
At present, the retail business contributes approximately 12 per cent to Earnings before interest, taxes, and amortization (EBITA) of its entire business arena which includes oil, gas, chemicals, telecom, retail and several other ventures, revealed Reliance Industries' annual report for the year 2022-23.
Since its last meeting, Reliance Retail has increased its EBITA, which is a measure of company profitability used by investors, from Rs 12,423 crore in 2021-22 to Rs 17,974 crore in 2022 to 2023.
Over Rs 2 lakh crore revenue has been generated by Reliance Retail in 2022-2023 as compared to nearly Rs 1 lakh crore in 2021-22.
Reliance Retail further established itself as a market leader as it has been featured in the top 100
