Reliance Retail has invested $10 billion in the past two years in its business, Isha Ambani, director, Reliance Industries, told investors at its Annual general meeting (AGM) on 28 Aug,2023.
Chairman of Reliance Industries said in AGM
“Reliance Retail is the only Indian retailer in the global top 100, and one of the fastest-growing retailers in the world. Over the past few years, it has attracted investments from large and reputable global investment firms and sovereign wealth funds owing to its rock-solid fundamentals and compelling value proposition.” said Mukesh Ambani
Highlights of the company
Stores opened last year - 3300
Total stores - 18040 (covering 65.6 million square feet of retail space)
Store coverage- ⅔ of stores in Tier-II and Tier-III cities, and small towns.
The company catered to 90% of daily needs of Indian households
Annual turnover -Rs 2.6 trillion, with 30% growth rate & EBITDA Rs 17,928 crore & Net Profit Rs 9,181 crore in FY23.
Groceries business sold 1.8 million metric tonnes of groceries, consumer electronics sold 5 lakhs laptops & fashion & lifestyle business sold 500 mn garments in a year.
Ranked among top 10 most visited retailers in the world & company entered into FMCG industry through multiple brands.
Qatar Investment Authority had come in as an investor with $1 billion for a 1%stake, which values the company at a pre-money equity value of Rs 8.28 trillion.
