Kolkata: Reliance chairman Mukesh Ambani unveiled yet another year of power-packed performance stating that the company has become the first company in FY25 to cross revenue of $125 billion and promised that Jio will float its IPO by the first half of 2026. “Jio is making all arrangements to file its IPO. We are aiming to list Jio by the first half of 2026,” Ambani said at the company’s 48th AGM on Friday.
Ambani laid out a blueprint for Jio’s expansion drive in the next few years and said that the company’s vision is to make AI available “everywhere and for everyone”. He also said that Jio will go global and expand its operations outside India. He also said Jio services will be available in every home for both telecom and entertainment purposes and will harness the power of AI in this expansion of the digital revolution. The Reliance chairman also articulated a vision where he said small businesses can harness the power of AI through simple Jio platforms.
Innovation over capital-intensity
Ambani also highlighted the fact that Jio has crossed the 500 million users milestone. He also reminded his company’s shareholders how Reliance has always dreamt big and pioneered free calls in telecom. He highlighted how Reliance is harnessing the power of AI in all their business verticals to improve efficiency, productivity and customer benefits. “Innovation over capital-intensity” is the new guiding philosophy of growth in Reliance, he said, adding this has led to the group employing innovative and gifted individuals.
Big bang numbers for FY25
True to the style of Reliance, Ambani reeled off a set of big bang figures to describe the company’s performance in FY25. The figures he presented were:
Total turnover: Rs 10,71,174 crore
EBITDA: Rs 1,83,422 crore
Net profit: Rs 81,309 crore
Exports: Rs 2,83,719 crore (7.6% of India’s merchandise exports)
Contribution to national exchequer: Rs 2,10,269 (biggest contributor)
Investment: Rs 5.6 lakh crore (past three years)
India first model of development
He also spoke of an India first model of development and remarked that the country is capable of achieving 10% growth. Speaking via video conferencing, Ambani pointed out how breakthroughs in clean energy, genomics and artificial intelligence are leading towards a developed future for mankind. He also said progress and development is best achieved during times of peace and urged global leaders to work towards it, opting for “Cooperation over conflict.”