Mukesh and Family at Reliance AGM

Updated: June 02, 2011 22:19 IST

Reliance Industries Chairman Mukesh Ambani, his wife Nita Ambani, mother Kokilaben and daughter Isha at the company's 37th annual general meeting in Mumbai on Friday.

Mukesh and Family at Reliance AGM
Mukesh Ambani, Nita Ambani and Kokilaben arrive at Mumbai's Birla Matoshree auditorium for the 37th annual general meeting.
Mukesh and Family at Reliance AGM
Nita Ambani arriving for Reliance's annual general meeting on Friday. Nita Ambani dons many hats as the Chairperson of DAIS, co-owner of Mumbai Indians, first lady of corporate India, an educationist and a social worker.
Mukesh and Family at Reliance AGM
Mukesh Ambani with his family posing for the shutterbugs.
Mukesh and Family at Reliance AGM
Nita Ambani at the Birla Matoshree auditorium to attend 37th annual general meeting of Reliance Industries.
Mukesh and Family at Reliance AGM
Reliance Industries chairman Mukesh Ambani's sons at the company's 37th annual general meeting in Mumbai on Friday.
Mukesh and Family at Reliance AGM
Reliance Industries chairman Mukesh Ambani with his wife Nita Ambani, mother Kokilaben and daughter Isha during the company's 37th annual general meeting in Mumbai on Friday.
Mukesh and Family at Reliance AGM
Reliance Industries chairman Mukesh Ambani's sons arrive at the company's 37th annual general meeting in Mumbai on Friday.
Mukesh and Family at Reliance AGM
There were no surprises in the speech except for the net debt levels announcement. However, what grabbed the biggest attention were not the future plans, but the intent to transform Reliance into a debt-free company. Mr Ambani said the company would become debt-free in the current financial year.
Mukesh and Family at Reliance AGM
Mukesh Ambani said the company will soon launch a cash and carry format. Reliance will compete with global biggies such as Bharti Walmart in this segment domestically.
Mukesh and Family at Reliance AGM
On the NSE, the stock declined. Marketmen said the stock slipped as the AGM turned out to be a subdued affair, disappointing the street.
Mukesh and Family at Reliance AGM
A decision has been taken to expand polyester capacity and to introduce newer products to capitalize on domestic demand. Mr Ambani said he plans to take up the polyester capacity to 3.6 MTPA.
Mukesh and Family at Reliance AGM
Mr Ambani said the company has plans to double the size of the petrochemicals business. The company is setting up a 1.5 MTPA olefin cracker.
Mukesh and Family at Reliance AGM
Mr Ambani said Reliance's refineries outperformed their global peers in terms of average utilisation rate and they have the best margins in the world.
Mukesh and Family at Reliance AGM
Mr Ambani said at every AGM, RIL's recurring theme has been transformational initiatives adding that Reliance figured among the top 100 companies in terms of net profits in the world.
Mukesh and Family at Reliance AGM
Mr Ambani was, however, silent on any blueprint for the group's foray into financial services businesses and any specific details about telecom business rollout.
Mukesh and Family at Reliance AGM
The 31st AGM of Reliance Industries Ltd in 2005 was the last time that Mukesh and Anil addressed the shareholders from the same platform. The two brothers demerged their businesses in 2005 in a family agreement brokered by their mother Kokilaben Ambani.

................................ Advertisement ................................

................................ Advertisement ................................

Listen to the latest songs, only on JioSaavn.com