Highlights of Reliance Annual General Meeting

The 41^st Annual General Meeting (AGM) of Reliance Industries Ltd was held today. Here are some key takeaways from the AGM.

Jio

• Jio phone has 25mn users at present.
• YouTube, WhatsApp and Facebook services to be available to JioPhone users from August 15
• RIL is planning to launch the Jio phone 2 priced at Rs2999 on August 15.
• The company is launching the Monsoon Hungama offer that will enable users to exchange their old feature phone for a new Jio phone for Rs501.
• RIL aims to eventually have 100mn users on the Jio phone platform.

Jio Fiber

• Jio Fiber to launched by August 15, to disrupt cable TV service providers.
• The company is launching JioGigaFiber, a fixed-line broadband service. Jio Fiber will connect homes, merchants, MSMEs, and large enterprises across 1,100 cities. JioGigaFiber is a home internet and connectivity solution which aims to bring digital connectivity to the home.
• The Giga Router would provide WiFi, while GigaTV would provide Hi-Def 4K TV channels. JioGigaFiber to open registrations on August 15.
• Jio utilization at ~20%, significant room to grow without capex.

Petrochemicals Business

• With partner BP, RIL plans to deploy technologies to begin gas production from KG-D6 by 2020. The goal is to achieve 30-35mn cubic meters of per day production by 2022.
• RIL is the largest recycler of PET bottles in the country.
• RIL commissioned the largest pet coke gasification project. This will improve the company's profitability.
• RIL also launched R-Elan last year.
• They have successfully commissioned the largest paraxylene complex with 4.2 MT capacity. Further, they have also commissioned the largest off gas ethylene cracker.

Retail Segment

• 4,000 new Reliance Retails stores opened. The total store count reached to 7,500 stores with 350mn footfalls.
• RIL aims to launch a new offline online e-commerce model through the use of Jio's digital infrastructure and retail network.

Media

• Reliance Industries has one of India's largest media and entertainment networks in its portfolio.
• Moreover, 1 in 5 internet users are on Network 18's websites and 1 in 2 people watch its TV channels.