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Friday, January 27, 2023

Reliance Industries is hosting its 45th AGM this month – everything you need to know

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  • Mukesh Ambani led Reliance Industries Limited (RIL) will hold its AGM on August 29, 2022.
  • It has set August 19 as the record date to determine which members are eligible for a dividend, if issued at the AGM.
  • The company reported a 46% jump in its net profit of 17,955 crore for the June 2022 quarter.

Mukesh Ambani-led Reliance Industries Limited (RIL) announced on Sunday that it will hold its 45th Annual General Meeting (AGM) at the end of this month on August 29. The meeting will take place at 2:00 PM via video conference and other audio visual means.

The company has also set August 22, which falls on a Monday, as the “cutting date” to determine which members are eligible to vote on the resolutions set forth in the AGM convocation.

On the other hand, Reliance Industries has also established August 19, which falls on a Friday, as the “Record Date” for determining its members eligible for dividends for the 2021-22 fiscal year. “The dividend, if declared at the AGM, will be paid within one week of the AGM close,” the company said in its filings.

Reliance Industries reported a 46% jump in its net profit from ₹17,955 crore in the quarter ended June 2022 on the back of strong revenues from refining and telecom companies. It had reported net profit of ₹12,273 crore in the same quarter last year.

Total operating income came in at ₹223,113 crore, up 55% from 144,372 crore in the same period a year ago. Reliance even attributed the EU embargo on Russian oil, the higher gas to oil switch, strong travel demand and lower product inventory to the strong performance.

“This, along with reviving demand, has resulted in a tighter fuel market and improved product margins. Despite the major challenges posed by tight crude oil markets and higher energy and freight costs, the O2C business has delivered its best-ever performance,” said Mukesh Ambani, Chairman and MD of Reliance Industries Limited (RIL).


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