At Reliance Industries Ltd’s (RIL) 47th annual general meeting (AGM) on Thursday, Chairperson Mukesh D. Ambani explained the slight decline in direct employment figures. He emphasized that the company remains one of India’s top employers, as recognized by various external agencies.
Ambani highlighted that the nature of employment is evolving globally due to technological advancements and flexible business models. He stated that RIL is moving beyond traditional direct employment models to newer, incentive-based engagement strategies. This shift not only allows employees to earn more but also fosters a spirit of enterprise.
Ahead of the AGM, RIL announced that its Board of Directors would meet on September 5 to consider a 1:1 bonus share issue to equity shareholders by capitalizing reserves. Following these announcements, RIL’s stock rose by 3%.
“Although, the total employment created by Reliance has gone up. We added 1.7 lakh new jobs last year. If we include both, the traditional and newer engagement models of our employment, our headcount today is nearly 6.5 lakh. Among all of Reliance’s record achievements so far, this one will always hold a special place in my heart. Because employment creation for India’s talented youth will always be our top national priority,” he also said
Ambani highlighted Reliance floated the financial services business as a separate listed company last year which helped unlock significant value for investors. Today, Jio Financial Services Ltd is worth Rs 2.2 lakh crore in market capitalisation (m-cap), he added.
Just ahead of the AGM, RIL informed bourses that its board of directors would meet on September 5 to consider issuing bonus shares in the ratio of 1:1 to the equity shareholders of the company by capitalisation of reserves.
