Reliance AGM: 5G, green energy, Jio Platforms amid key announcements expected

There is always a sense of anticipation when it comes to the annual general meeting (AGM) of Reliance Industries Limited (RIL). The diversified major is known to make big-ticket announcements (often most unexpectedly) and now, with a presence across traditional and new-age sectors, RIL is a company that is closely tracked not for just its financial metrics but also for its impact on the stock market.  

Just what could lie ahead for the August 29 AGM? What can industry trackers and investors hope to hear today as Mukesh Ambani, the company’s Chairman takes centrestage? Here is a curtain raiser:  

5G: After having spent over Rs 88,000 crore at the recent 5G spectrum auctions, Reliance will need to start getting its act together on how to monetise this significant outgo. It is expected that the way forward will be on being more “enterprise-focused” since a good part of mobility in terms of subscriber numbers and revenue have been addressed. In short, we should hear a bit on the 5G rollout plans.  

Green energy: Last year was huge in terms of a planned $10 billion investment to set up factories and have a presence across the value chain. During FY22, acquisitions and strategic tie-ups were announced to strengthen the ambitious business foray. Ambani is expected to outline the next step and perhaps what is in store for hydrogen. 

Chemical joint venture: Earlier this year, RIL signed an agreement for a $2 billion TA’AZIZ chemical joint venture in the UAE, for which it will collaborate with Abu Dhabi National Oil Company and ADQ, a sovereign fund. A status update on this project is expected to be made. 

Jio Platforms: The plan has been to have a presence across verticals such as agriculture, edtech and how it will now create a marketplace is key. This ties in with the rollout of 5G services and is a big part of the digital services foray. 

Oil exploration and refining:  Higher gas production and higher prices have formed the story in the exploration business. What now will be critical. From the refining point of view, it is expected to be more updates to lay the base for the next few years.   

Passing the baton: Ambani’s son, Akash has already been elevated as Chairman, Reliance Jio. When Isha, Ambani’s daughter and Akash’s twin formally takes charge of the retail business is what is awaited. Those tracking RIL think something around this will likely take place. Besides, the listing of the telecom and retail businesses to unlock value has been in the air. Some direction on this could also be mentioned.

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