Reliance Industries Limited (RIL) has become the first Indian company to surpass Rs 10 lakh crore in annual revenue. This significant milestone was announced by RIL chairman Mukesh Ambani during the company's Annual General Meeting (AGM) held on Thursday.

During the AGM, Ambani revealed that Reliance achieved a record consolidated turnover of Rs 10,00,122 crore (USD 119.9 billion) for the financial year 2023-24.

For the same period, RIL reported an EBITDA of Rs 1,78,677 crore (USD 21.4 billion) and a net profit of Rs 79,020 crore (USD 9.5 billion).

The company also recorded exports amounting to Rs 2,99,832 crore (USD 35.9 billion), which accounted for 8.2% of India's total merchandise exports.

In the last three years, Reliance Industries has invested over Rs 5.28 lakh crore (USD 66.0 billion), demonstrating its commitment to expanding its operations.

Additionally, the company remained the largest contributor to the national exchequer, contributing Rs 1,86,440 crore (USD 22.4 billion) through various taxes and duties during FY 2023-24. Over the past three years, RIL's total contribution to the exchequer has crossed Rs 5.5 lakh crore (USD 68.7 billion), the highest by any Indian corporate.

On the social front, RIL increased its annual Corporate Social Responsibility (CSR) spending by 25%, reaching Rs 1,592 crore (USD 191 million) in the last year.

The company's total CSR spend over the past three years has exceeded Rs 4,000 crore (USD 502 million), making it the largest among Indian corporates. The company also added over 1.7 lakh new jobs last year, bringing its total workforce to nearly 6.5 lakh employees when considering both traditional and newer models of employment.

Amid this strong financial performance, Reliance Industries has announced that it will consider issuing 1:1 bonus shares during its board meeting scheduled for September 5, 2024. This means that for every share an investor holds, they would receive an additional share, effectively doubling their holding.

Source: India Today