RIL AGM: Investors lost Rs 1.5 lakh crore, will Mukesh Ambani be able to bring back the lost momentum of Reliance?
The Annual General Meeting (AGM) of Reliance Industries is to be held today. This time it is not just a formal corporate event, but has become a big test of investors' expectations and market sentiments. Due to the fall in the company's shares in the last one year, the wealth of investors has reduced by about Rs 1.5 lakh crore. In such a situation, the market hopes that Chairman Mukesh Ambani can give some big and concrete indications regarding the future of the company. The biggest discussion in the AGM is likely to be about the proposed listing of Reliance Jio. Last year, the company had indicated that Jio could be launched in the stock market in the first half of 2026, but till now no concrete step has been taken in this direction. There is hope in the market that Reliance may soon file documents related to IPO with SEBI. This issue of around $4 billion is expected to become India's largest IPO. Analysts believe that the successful listing of Jio can prove to be a huge value unlocking for the shareholders of Reliance.
Keep an eye on the roadmap related to AI business
Artificial Intelligence is being considered as the next big growth engine for Reliance. The company has already announced major investments in data centers and AI infrastructure. There are a lot of expectations in the market regarding the data center project and technology partnerships in Jamnagar. However, investors want to know not just investment plans but also when the AI business will start earning money and what will be its business model. Experts believe that Reliance will have to clarify its commercial strategy in the AI field.
Growing expectations in new energy business
Reliance's new energy business has also now reached an important stage. The company has started commercial production of high-efficiency solar modules and is rapidly working on battery manufacturing projects. Apart from this, the electrolyzer manufacturing unit under the Green Hydrogen Mission can also start production next year. Brokerage firms believe that the market has not yet factored in the full potential of Reliance's new energy business. Therefore, investors want clear information on the timeline and potential returns of projects.
Eyes will also be on retail business
Reliance Retail has emerged as the company's largest consumer business in the last few years. Although the chances of its IPO seem unlikely at the moment, investors are expecting updates on expansion plans and the roadmap for a possible listing. Retail and telecom businesses now play a major role in the company's earnings, reducing dependence on the traditional oil-to-chemicals business.
Earnings strong, but market wants value unlocking
Financial year 2025-26 was a year of strong financial performance for Reliance. The company's annual revenue increased by 10% to Rs 11.8 lakh crore. EBITDA increased by 13.4% to Rs 2.08 lakh crore and net profit increased by 18% to Rs 95,754 crore. Jio and retail business also performed strongly in the March quarter. Despite this, the expected rise in shares was not seen.
The biggest reason for this is that investors now want not just earnings growth but signs of real returns and value unlocking from big investments. The biggest challenge before Mukesh Ambani in the AGM will be to strengthen the confidence of investors and to prove that the billions of dollars invested in Jio, AI, New Energy and Retail will pay off in the coming years. Will write the story of better returns and new growth for shareholders.
