Archive for the ‘Reliance Industries’ Category

RIIHL Acquires Stakes in New Emerging World of Journalism and SkyTran Inc.

November 29, 2018

Reliance Industrial Investments and Holdings Limited (RIIHL) has acquired stakes in New Emerging World of Journalism (NEWJ), which is a media start-up, and US-based SkyTran Inc., which is a venture-funded, technology company. RIIHL is a wholly owned subsidiary of Reliance Industries Limited (RIL). The aim of these investments is to help transform the digital landscape of India.

Details of the NEWJ acquisition

RIIHL has acquired a substantial stake in NEWJ with an initial investment of INR 1.03 crore.         On November 27, 2018, RIL stated that RIIHL has purchased 30,000 equity shares of the media start-up. It has also subscribed to 125 mandatory convertible debentures. As a result, the media start-up has become a subsidiary of RIIHL and the company.

RIL also stated that the fast growth of the video content market offers a large potential for visual innovative storytelling in the country. RIL aims to meet the demand for quality video content in the digital and social media arena.

RIL further stated that NEWJ will leverage the synergy of a tech-focused and data-driven approach to create a distributed content model.

Details of the SkyTran acquisition

SkyTran develops modern transport modes, which includes personal rapid transit system. In an official statement, SkyTran stated that RIL has made a strategic investment through the company’s preferred stock financing, which recently concluded. RIL also has an option of investing an additional USD 25 million in convertible notes in the company. This is subject to the SkyTran’s board approval.

SkyTran stated that RIL has made the investment with the objective of fostering a collaboration with India. In this collaboration, the two entities will work together to develop pilot implementations. Following this, there will be an implementation of the company’s network in India at scale. RIL will play a pivotal role in progressing the SkyTran solution, especially in digital platforms and services, telecom, electric batteries, and advanced materials.

With this investment, RIL will nominate a director to the SkyTran board. Akash Ambani, the Director of Reliance Jio, stated that the collaboration with SkyTran emphasizes the commitment to invest in futuristic technologies. The Founder and CEO of SkyTran, John Cole, stated that RIL brings strong infrastructure, technical expertise, and the capability to execute at the biggest scale.

About RIL

In 2003, the Chairman and Managing Director of Reliance Industries Limited (RIL), Mukesh Ambani started his digital ambition with a strong plan in mind: to offer innovative and accessible technologies to the people of India. Over the next 15 years, by expanding and reinventing his business ventures, he delivered on his promises. With a ‘customer first’ approach, RIL has made a strong presence across India. Now in 2018, Ambani is still committed to making India a technologically savvy nation.

As it stands today, RIL is a multi-faceted consumer business that offers services in retail, content, health, education, e-commerce, Cloud technology, artificial intelligence, and media and entertainment.

Summary: RIIHL has acquired stakes in NEWJ and SkyTran Inc. The aim of this is to help transform the digital landscape of India.

RIL Collaborates with Vardhman Textiles to Produce R|Elan Fabrics

September 28, 2018

The Mukesh Ambani -led Reliance Industries Limited (RIL) has collaborated with Vardhman Textiles to produce the innovative fabric R|Elan, which includes R|Elan GreenGold. R|Elan GreenGold is manufactured by recycling used plastic PET bottles. It is very eco-friendly and has one of the lowest carbon footprints globally.

RIL’s press release

According to a press release by RIL, R|Elan is a high-quality fabric collection that will range across the sustainable and performance themes in casuals, formals, and other women-wear segments. RIL stated that the R|Elan technical team will provide the parameters, specifications, and technical expertise to ensure the best quality fabric is produced.

RIL further stated that as part of this new collaboration, its R|Elan technical team aims to work closely with Vardhman Textiles to develop a range of new manufacturing processes to create specially engineered R|Elan fabrics.

R|Elan range of fabrics

There are five innovative fabrics under the umbrella of R|Elan. R|Elan FreeFlow is used in manufacturing dress material and sarees. R|Elan Kooltex is used to make activewear apparels. R|Elan SuperSoft is used to manufacture shirts. R|Elan SuperBlack is used to manufacture suits. Finally, R|Elan GreenGold is the flagship fabric and manufactured by recycling used PET bottles. It is the greenest fabric in the world. It will be used in trousers and denim.

R|Elan GreenGold is manufactured using bio-fuels instead of fossil fuels. According to RIL’s website, the process also uses a zero-waste concept. This means that all the raw materials are used in the manufacturing process or sold in the market. The process also recycles the maximum amount of water and all the water is utilized in horticulture and manufacturing.

The opinion of Gunjan Sharma, CMO, RIL

Gunjan Sharma, the Chief Marketing Officer of the Polyester Division at RIL, stated that Reliance Industries is proud to be associated with Vardhman Textiles, a leading player, for R|Elan. The two entities will work together to ensure that the customers’ rising demands for sustainable and high-quality performance apparel are met with R|Elan. Sharma further stated that this collaboration is also an effort to create opportunities for the entire textile value chain, including apparel manufacturers and brands.

The significance of R|Elan in the apparel industry

For RIL, R|Elan is a portfolio of innovative fabrics. It will have a presence in various segments such as denim, activewear, ethnic, and western wear, both casuals and formals. RIL has collaborated with over 30 players who are equipped to produce new-age fabrics using the technologies of R|Elan.

In the total INR 2-2.5 lakh crore apparel industry, sarees and ethnic wear, the biggest apparel sub-segment, has an INR 60,000 crore share.  The activewear segment commands only an INR 2,500 crore-market share, which is 10-15 percent. The denim segment is valued at INR 20,000 crore.

Summary: RIL has collaborated with Vardhman Textiles to produce the innovative fabric, including R|Elan GreenGold, which is eco-friendly and made from PET bottles. These R|Elan fabrics are a significant portfolio for RIL in the apparel industry.

RIL’s Market Capitalization Crosses INR 8 Trillion

August 24, 2018

On August 23, 2018, the Mukesh Ambani-led Reliance Industries Limited (RIL) became the first Indian company to reach INR 8 trillion market capitalization. RIL’s share prices increased by 1.86 percent, closing at INR 1,269.70, on the Bombay Stock Exchange (BSE). In 2018, RIL’s shares witnessed a surge of almost 38 percent.

RIL’s market capitalization growth

RIL now has a market capitalization of INR 8.05 trillion. Information from the Telecom Regulatory Authority of India (TRAI) attributed this to Reliance Jio, which is the telecom wing of the RIL and it has continued to acquire subscribers at a strong pace. As a result, the Indian benchmark Sensex Index rose by 0.13 percent to 38,336.76 points.

After the announcement of Reliance JioGigaFiber, Reliance Jio’s broadband service and the JioPhone 2, investors continued to purchase RIL shares. Margins are also strengthened by attractive tariff plans and a larger subscription base.

According to the data from TRAI, Reliance Jio acquired 9.71 million users in June 2018, crossing a 215 million subscriber base. Reliance Jio also showed market share gain from 18.7 percent in May to 18.78 percent in June.

RIL’s results of the June quarter also delighted investors, as it showed that the retail and telecom financials have shown a steady improvement.

Reliance Jio’s performance in 2018

In July 2018, Reliance Jio showed a profit of INR 612 crore, for the quarter ending in June. This represented a 19.9 percent increase on a sequential basis over revenue of INR 8,109 crore from operations.

During the March 2018 quarter, Reliance Jio reported revenue of INR 7,128 crore, with a net profit of INR 510 crore. Supported by rapid store expansion, organized retail also reported a 123.7 percent increase in revenue, at INR 25,890 crore.

Report from Morgan Stanley

On August 16, 2018, Morgan Stanley stated in a report that RIL’s retail business is valued at F20e EV/sales of 0.8x, which is in keeping with the average of another Bloomberg-based consensus of comparable competition in retail. Morgan Stanley values telecom investments at an EV/IC multiple of 0.9x, which is the target. They have based their target multiple on the valuation of Reliance Jio’s F21e Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) at an EV/EBITDA multiple of 7.5x, and then discounting it back by using a 12 percent discount rate. Based on the Bloomberg consensus estimates, Morgan Stanley’s 7.5x multiple is in keeping with where the other telecom companies in India are currently trading.

Opinions of analysts

Industry analysts expect strong earnings growth momentum from RIL. This is thanks to the ramp-up of RIL’s project of petcoke gasification and the recently commissioned off-gas cracker refinery.

On the condition of anonymity, an analyst stated that in line with the analysts’ expectations, Reliance Jio has continued to show a healthy subscriber momentum. The focus will stay on generating more subscribers and driving user engagement.

Summary: RIL has become the first Indian company to reach INR 8 trillion market capitalization. This is due to the strong performance of Reliance Jio, Reliance Retail, and RIL’s newly announced gasification projects.

Reliance Jio Launches INR 594 Plan for Jio Subscribers

July 27, 2018

Reliance Jio, the telecom division of Reliance Industries Limited (RIL), has introduced a special recharge plan for its customers as part of the JioPhone Monsoon Hungama offer. Under this new plan, which is valid for a period of six months, Jio subscribers can avail of unlimited calling and free 4G data. This is in addition to the two recharge plans already available under the Monsoon Hungama offer. After this introduction, Jio plans to launch JioPhone 2 next.

About the Monsoon Hungama offer

Under this offer, Reliance Jio is offering customers the JioPhone feature-phone, a 4G-enabled device. Customers can avail of this offer in exchange of their old feature phone, along with the payment of INR 501. This amount represents a refundable deposit that the customer can claim at the end of a three year period.

Once the customer has purchased the JioPhone they will need to subscribe to any one of Jio’s tariff plans. There are two of them. The first plan, which is priced at INR 49, offers 1GB of 4G data and unlimited calling. The second plan, priced at INR153, offers subscribers 1.5 GB of 4G data, 100 SMS per day, and unlimited calling. Both these plans have a validity period of 28 days and offer all the 4G services available on Reliance Jio’s network.

About Reliance Jio’s new INR 594 plan

To offers its customers a better 4G experience, Reliance Jio has launched a new tariff plan priced at INR 594, which is valid for a period of six months and offers unlimited calling and free 4G data. This new plan is the third tariff plan Jio has introduced under its Monsoon Hungama offer. With this, Jio aims to improve the quality and affordability of 4G services provided to its subscribers across India.

About the JioPhone 2

In an effort to enhance customer experience and satisfaction, Reliance Jio has planned to launch JioPhone 2, also a 4G-enabled feature-phone, at a price of INR 2,999. This will sport a QWERTY keypad, dual-sim capability, a 2000mAh battery, and a 2.4-inch QVGA display. Other specifications include a 4GB RAM that is expandable up to 128GB via a card slot, a VGA front-facing camera, and 2MP rear camera.

On the software front, the JioPhone 2 sports a KAI operating system and supports LTE Bands 3, 5, 40 as well as 2GB Band- 900/1800. Customers will enjoy a 150 Mbps download speed and a 50 Mbps upload speed as well. The feature phone also supports Voice-over-LTE and Voice over Wifi. Furthermore, it will also sport popular apps like Youtube, WhatsApp, and Facebook, among others.

With regard to connectivity, JioPhone 2 also comes with Global Positioning System (GPS), Bluetooth, Near-field Communication (NFC), and Frequency Modulation (FM).

The JioPhone 2 will be available to the country starting August 15, 2018, in celebration of Independence Day.


Reliance Jio has introduced a third tariff plan under its Monsoon Hungama offer. This is priced at INR 594 and is valid for six months. It is launched in an effort to make 4G technologies more enjoyable and affordable to Indian users.

RIL’s Contribution to the Digital World

July 13, 2018

In 2003, the Chairman and Managing Director of Reliance Industries Limited (RIL), Mukesh Ambani began his digital journey with a plan in mind: to introduce and offer new and accessible technologies to the people of India. Over the next 15 years, by reinventing and expanding his business ventures, he delivered on his promises. With a ‘customer first’ approach, RIL has made a strong presence among the masses. Now in 2018, Ambani is reinventing his original vision of making India a technologically savvy nation.

 Progress in digital business, and media and entertainment

By formulating his plans in such a way that his digital dreams found opportunities for growth, Mukesh Ambani has expanded Reliance Jio, his telecom business by collaborating with noted companies such as Saavn, Eros Entertainment, and ALT Balaji, Balaji Telefilms’ content streaming application, among others.

RIL, a multifaceted business organization

As it stands today, RIL is a multi-faceted consumer business that offers services in retail, content, health, education, e-commerce, cloud technology, artificial intelligence, and media and entertainment.

The range of achievements and the way ahead

The fast-paced evolution of the technological world demands that companies focus on customer relations to stay relevant. Because customer satisfaction is a priority in any business, RIL has made investments in advertising, marketing, customer service, research, and retail experience. RIL believes in providing quality services to customers across all sectors.

In terms of expanding and improving carriage and content, special financial resources have assigned to rise up against the challenges posed by international and domestic competitors. During the 41st Annual General Meeting (AGM), which took place on July 5, 2018, the company stated that it is preparing to roll out new online services in a growing list of sectors like media, entertainment, security, governance, banking, and health, to name a few.

Internet-based systems will also be receiving an anticipated upgrade within 18 to 24 months. As the connectivity between network and devices keeps increasing, so will the number of software systems. Larger bandwidths, 5G technology, artificial intelligence, cinematic VR, and automation and robotics in civic services will integrate and interconnect society, making mundane tasks redundant and provide a seamless interface between end user and product.

The progress of Reliance Jio

Launched in 2016, after two and a half years of operations, Reliance Jio has acquired 200 million plus wireless customers by offering high-speed internet connection and an engaging digital ecosystem. It offers a variety of post-paid and pre-paid data plans to meet the changing needs of the Indian mobile phone users.

The assured future

RIL still has a role to play in the coming years. With technology at its center point, it has introduced plans to engage customers in an effective manner. For years, research into wearable tech, smart home appliances, immersive content, ‘predictive home’, and holography has already been underway.


RIL has made its presence felt fields of digital media, content distribution, and technologies that have not been introduced in other developing countries across the globe.

RIL Enters the Indian Broadband Services Market with Jio GigaFiber

July 6, 2018

At the 41st Annual General Meeting (AGM) of the Mukesh Ambani-owned Reliance Industries Limited(RIL), which took place on Thursday, July 5, 2018, the organization had announced the launch of the Jio GigaFiber, its broadband service, which would come under Reliance Jio, the organization’s telecom subsidiary. After having acquired 215 million subscribers since its commencement of business operations in 2016, Reliance Jio has ventured into the fixed broadband sector homes and enterprises with Jio GigaFiber.

Jio GigaFiber – Launch details

Mukesh Ambani, the Chairman and Managing Director of RIL, had announced the launch of Jio GigaFiber at the recently held 41st AGM of the company. While addressing a house filled with shareholders and media professionals, Ambani stated that the purpose of launching this service is to give customers the facility of fixed broadband connectivity through the support of fiber connectivity. He also added that Reliance Jio would provide fiber connectivity to homes and Small and Medium Enterprises (SMEs). In addition, the rollout of this broadband service would happen in 1,100 cities and customers who are interested in registering for Jio GigaFiber can register from August 15, 2018. The locations, from where the highest registrations are received, would be prioritized first, for a rollout.

Brief insights of Jio GigaFiber

Akash Ambani, the Director of Reliance Jio, had made a brief explanation of the Jio GigaFiber at the 41st AGM of RIL. He stated that through the router, customers would get wi-fi coverage at a good speed. Moreover, he added that along with JioGigaFiber, customers would also get a set-top box and a voice-activated remote, which would have the facility of various Indian languages.

Mukesh Ambani’s vision with Jio GigaFiber

Mukesh Ambani stated that nations, which have a more developed communication infrastructure, more than 80 percent of the data consumption takes place indoors with the help of a fixed-line connectivity in offices, homes, and other premises. He stated that with Jio GigiFiber, Reliance Jio is determined to take India in the list of top five countries for fiber-based wireline connectivity as well as mobility. He stated that, for the same purpose, Reliance Jio has been running beta trials in thousands of homes. He added that once the infrastructure is organized and the rollout takes place, Jio GigaFiber has the potential to integrate various digital services such as broadband, e-commerce, and cable TV, among others. He concluded that Jio GigaFiber could be a holistic digital platform for the customers.

Other announcements during the 41st AGM

The other key announcements, which took place during the 41st AGM, included the launch of Jio Phone 2, which comes with a full keyboard and the feature of a horizontal screen. The introductory price of Jio Phone 2 is INR 2,999. Apart from the launch of Jio Phone 2, Mukesh Ambani also introduced an offer wherein customers could exchange their feature phone for JioPhones at a price of INR 501 from July 21, 2018. This indicated that the entry price of JioPhone has been reduced from INR 1,500 to INR 501.


RIL enters the broadband services market with Jio GigaFiber, which was announced during the company’s annual general meeting on Thursday, July 5, 2018.

Reliance Jio Launches the ‘Jio Oppo Monsoon Offer’

June 29, 2018

Reliance Jio, the telecom division of the Mukesh Ambani led Reliance Industries Limited (RIL) has launched the ‘Jio Oppo Monsoon Offer’ for its subscribers. The telecom company had launched this offer on Thursday, June 28, 2018.

About the ‘Jio Oppo Monsoon Offer’

Reliance Jio is offering benefits equivalent to INR 4,900 and 4G internet data of up to 3.2 TB to all the subscribers who own Oppo devices. This offer is applicable on the INR 198 and INR 299 prepaid plans offered by Reliance Jio.

Benefits offered in the ‘Jio Oppo Monsoon Offer’

The subscribers of Reliance Jio, who own an Oppo device on a new or old Reliance Jio SIM card can avail of various benefits under the ‘Jio Oppo Monsoon Offer.’ They will get quick cashback benefits equivalent to INR 1,800. They can avail of these cashback benefits in the form of 36 cashback vouchers wherein each voucher would be of INR 50. In the second benefit, Reliance Jio will make a credit equivalent to INR 1,800 in three portions of INR 600, after the customers do the 13th, 26th, and 39th prepaid recharge. Under the third benefit, subscribers can avail of discount coupons equivalent to INR 1,300 from MakeMyTrip.

Details of Reliance Jio’s new offer for MyJio app users

Reliance Jio is providing the subscribers an INR 100 discount on recharges done above INR 300. In addition to this offer, it is providing the subscribers with a 20 percent discount on all recharges below INR 300. This offer is valid on all recharges done through the MyJio app. In order to avail of the offer, subscribers need to make the payment on the MyJio app, with the help of PhonePe wallet. After availing of the offer, the subscribers will get the plan benefits at discounted prices. For instance, subscribers have to pay INR 120 for doing a recharge of INR 149. In the same way, Reliance Jio’s prepaid plan of INR 399 will be available to the users of MyJio app for INR 299. Reliance Jio’s INR 149 prepaid plan, which offers internet data of 1.5GB per day, is now providing the subscribers with 3GB internet data. Reliance Jio’s INR 399 prepaid plan, which gives the subscribers 1.5GB internet data per day, is now offering 3GB internet data per day. This benefit of 1.5GB additional internet data per day is applicable to subscribers who recharge their Reliance Jio mobile numbers till June 30, 2018.

How to claim an INR 100 discount or 20 percent discount on MyJio App

In the first step, subscribers need to sign in to the MyJio app and go to the recharge tab. Subscribers have to click on the ’buy’ button in order to go to the payment page in the next step. After that, subscribers need to choose PhonePe as an option for payment. Then, subscribers need to log in to the PhonePe account after confirming their One Time Password (OTP) and mobile number. Lastly, subscribers need to do a payment of the net payable amount by using the PhonePe wallet.


Reliance Jio launches the ‘Jio Oppo Monsoon Offer’ on INR 198 and 1NR 299 prepaid plans. It is also offering discounts of INR 100 and 20 percent to the MyJio app users.

Details of 1.5GB Per Day Internet Data Plans Offered by Reliance Jio

June 22, 2018

Reliance Jio, the telecom division of the Mukesh Ambani-owned Reliance Industries Limited (RIL) is offering its subscribers various prepaid recharge plans. These plans range from INR 19 to INR 9,999. The validity period of these plans varies from one day to one year depending on the price. The telecom entity offers four prepaid recharge plans, which offer internet data of 1.5GB on a daily basis. These plans are priced at INR 149, INR 349, INR 399, and INR 449 according to the official website of Reliance Jio.

Details of Reliance Jio’s prepaid plans of 1.5GB per day

Reliance Jio’s prepaid recharge plan of INR 149 has a validity of 28 days. This prepaid plan offers the subscribers with 1.5GB 4G internet data on a daily basis. Under this plan, subscribers get unlimited roaming, STD, and local calls. The other facilities in this plan include a complimentary subscription to all the Reliance Jio applications (apps) and 100 text messages. The total internet data offered in the INR 149 prepaid recharge plan is 42GB.

The INR 349 prepaid recharge plan offered by Reliance Jio has a validity duration of 70 days. This plan offers daily 4G internet data of 1.5GB, wherein subscribers can avail of a total internet data of 105GB. It provides the subscribers with 100 text messages and a free subscription to all the Reliance Jio apps. Subscribers have the facility of making unlimited roaming, STD, and local voice calls in this plan as well.

Reliance Jio’s prepaid recharge plan of INR 399 has an 84-day validity period. With 1.5GB internet data on a daily basis, this plan provides a total internet data of 126GB during the 84-day duration. Subscribers have the facility of making unlimited roaming, STD, and local calls in this plan. They also get 100 text messages per day and a free subscription to all Reliance Jio apps in the INR 399 prepaid plan.

The prepaid plan of Reliance Jio, which costs INR 449, has a validity of 91 days. The total internet data offered in this plan is 136GB wherein subscribers get 1.5GB 4G internet data on a day-to-day basis. Like all the other prepaid plans of 1.5GB 4G internet data per day, this plan also provides the subscribers with unlimited roaming, STD, and local voice calls. Lastly, subscribers get the benefits of 100 text messages on a daily basis and a free subscription to all the Reliance Jio apps in this plan.

Reliance Jio becomes the third largest telecom company

Since its inception in September 2016, Reliance Jio has become the third largest telecom company of India, in terms of its revenue market share. The Telecom Regulatory Authority of India (TRAI) has revealed the financial data, which indicates that the revenue market share of Reliance Jio was around 20 percent in March 2018, which marked the end of the 2017-18 financial year.


Reliance Jio is offering four prepaid recharge plans with an internet data of 1.5GB per day. The prices of these plans are INR 149, INR 349, INR 399, and INR 449.

RIL Acquires 73 Percent Stake in Embibe

June 15, 2018

The Mukesh Ambani-owned Reliance Industries Limited (RIL) has stated in a Bombay Stock Exchange (BSE) filing dated June 12, 2018, that it has completed the acquisition of nearly 73 percent stake in Embibe, an Artificial Intelligence (AI)-based education technology platform located in Bengaluru. As per the BSE filing, RIL along with Embibe and the other stakeholders have finished the formalities. The organization stated that after this transaction it would have a shareholding of 72.69 percent in Embibe. It has also stated that Aditi Avasthi, the Chief Executive Officer (CEO) of Embibe will continue her leadership responsibility of generating growth and development in the business.

The history behind RIL’s investment in Embibe

RIL has made an announcement on April 13, 2018, about buying a major stake of approximately 73 percent in Individual Learning Pvt. Ltd., a Bengaluru-based education technology company, which owns Embibe. According to the deal, RIL would make an investment of USD 180 million in Embibe, during the next three years.

About Embibe

Established in 2012 by Aditi Avaisthi, Embibe is an AI-based education platform that helps students in taking tests. It claims to improve the performance of students in competitive exams. It has 60+ education institutions on its platform. The two venture capital companies, who have backed Embibe include Lightbox and Kalaari. However, these companies are now expected to exit as the deal with RIL is completed.

How will Embibe make use of this investment?

Embibe will make use of RIL’s investment for various purposes, which include geographic expansion and business growth, strengthening its research and development towards AI in the field of education, targeting students with respect to professional skilling, higher education, K-12, curriculum categories all over India and globally, and vernacular languages.

Advisors associated in the RIL-Embibe Deal

Reputed organizations have played prominent roles as financial advisors, legal advisors, and tax advisors in the RIL-Embibe deal. Pricewaterhouse Coopers (PwC), a top advisory organization provided tax advisory and diligence services for the RIL-Embibe deal. Anand and Anand, KPMG, AZB & Partners, and Covington & Burling LLP have acted as legal advisors while Citibank was the financial advisor in this deal.

Opinions of key people

The Director of Reliance Jio, Akash Ambani, expressed delight while announcing the deal with Embibe in April 2018. Ambani had stated that RIL has the goal of connecting more than 1.9 million schools and 58,000 universities all over India with the help of technology. He added that Embibe, with its accomplished management team, would play a pivotal role in helping RIL to make its ambition for the education sector come true.

The CEO of Embibe, Aditi Avasthi, stated that her team is supercharging Embibe with the capability to deliver both content as well as results for each learning goal in the journey of every student. Avasthi stated that the objective behind this is to establish Embibe as a trendsetter in personalizing education in India and all over the globe.


Reliance Industries completes an acquisition of 73 percent in Embibe, an Artificial Intelligence (AI) based education technology platform in Bengaluru. It is set to invest USD 180 million in Embibe, during the next three years.

RIL Chairman Mukesh Ambani’s Annual Remuneration Remains Unchanged since the Past Ten Years

June 8, 2018

The Mukesh Ambani-owned Reliance Industries Limited (RIL) has released its latest annual report. As per the annual report, the annual remuneration of Mukesh Ambani, the Chairman and Managing Director of RIL, remains the same for the tenth consecutive year. Since 2008-09 Ambani’s annual remuneration is INR 15 crore, inclusive of salary, commission, and allowances and perquisites. Since October 2009, Ambani has voluntarily maintained his annual compensation at INR 15 crore during a debate on right-sizing on remunerations received by Chief Executive Officers (CEOs).

Key insights of RIL’s latest annual report

According to RIL’s latest annual report, Ambani has kept his annual remuneration at INR 15 crore with the objective to continue to set an example of moderation when it comes to managerial compensation levels. As per the report, the annual salary of all the other full-time directors of RIL, which include Ambani’s cousins Hital and Nikhil Meswani, witnessed a decent hike, during the end of the 2017-18 financial year.

Mukesh Ambani’s annual remuneration break-up in 2016-17 and 2017-18

During the financial year of 2016-17, Ambani’s salary and allowances were INR 4.16 crore. The amount had a marginal rise to INR 4.49 crore in the financial year of 2017-18. His perquisites have declined from INR 60 lakh in the 2016-17 financial year to INR 27 lakh during the 2017-18 fiscal year. The commission amount earned by him remains the same during both financial years at INR 9.53 crore.

Details of RIL’s full-time executive directors’ annual remuneration

Apart from Ambani and his cousins Hital Meswani and Nikhil Meswani, the other full-time directors of RIL include P.M.S. Prasad and Pawan Kumar Kapil. During the financial year of 2017-18, the annual compensation of both Hital and Nikhil Meswani increased to INR 19.99 crore. In the 2016-17 financial year, the Meswani brothers had earned an annual remuneration of INR 16.58 crore each. During the 2015-16 financial year, Hital Meswani had earned an annual compensation of INR 14.41 crore while Nikhil Meswani took home a yearly compensation of INR 14.42 crore. In the financial year of 2014-15, both the brothers received an annual remuneration of INR 12.03 crore each. P.M.S. Prasad, the Executive Director of RIL witnessed a rise in his annual remuneration from INR 7.87 crore in the financial year 2016-17 to INR 8.99 crore in 2017-18. His annual compensation was INR 7.23 crore in the 2015-16 financial year. During the 2014-15 financial year, his yearly remuneration was INR 6.03 crore. The annual compensation of Pawan Kumar Kapil, the Refinery Chief of RIL, increased from INR 2.54 crore in the 2016-17 financial year to INR 3.47 crore in the 2017-18 financial year. He earned INR 2.94 crore in the 2015-16 financial year and INR 2.41 crore during the financial year of 2014-15.

Details of commission earned by non-executive directors

All non-executive directors of RIL, including Nita Ambani, received a commission of INR 1.5 crore each, during the financial year of 2017-18. The commission amount was INR 1.3 crore for each non-executive director during the 2016-17 financial year.


Mukesh Ambani voluntarily maintains the same annual remuneration of INR 15 crore for the past ten years. However, the yearly compensation of all other executive directors has increased.