Reliance Industries' Market Capitalisation Exceeds ₹20 Lakh Cr, Becomes First Indian Company To Hit The Mark

The conglomerate owned by Mukesh Ambani, Reliance Industries Limited (RIL), became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore.

Led by its flagship company RIL, Reliance Industries Ltd witnessed a remarkable surge in market value, reflecting investor confidence and positive market sentiment. The market valuation of the company crossed the Rs 20 lakh crore mark on Tuesday after the shares of the company hit a record high during that day's trading session.

The shares of RIL at 12:34 pm IST were trading at Rs 2,945, up by 1.39 per cent.

A Journey to Rs 20 Lakh Crore Market Cap -From 2005 to 2024

Reliance Industries Ltd reached the significant market capitalisation milestones over the years.

The conglomerate achieved a market capitalisation of Rs 1 lakh crore in August 2005 and reached Rs 2 lakh crore in April 2007

Subsequently, it reached Rs 3 lakh crore in September 2007, and Rs 4 lakh crore in October 2007.

Over the next 12 years, Reliance steadily climbed, taking 12 years to achieve the Rs 5 lakh crore milestone in July 2017.

The momentum picked up, and the market value surged to Rs 10 lakh crore in November 2019, then to Rs 15 lakh crore in September 2021 and the most recent Rs 20 Lakh crore in February 13, 2024.

Financial Highlights

Reliance Industries Limited reported a Gross Revenue of Rs 2,48,160 crore, marking a 3.2 per cent year-on-year increase, driven by sustained growth in consumer businesses. Notably, JPL's revenue rose by 11.4 per cent year-on-year, fueled by strong subscriber growth in mobility and homes, while RRVL experienced a robust 22.8 per cent year-on-year growth across various consumption categories, including a 41 per cent surge in Grocery, 28 per cent in Fashion & Lifestyle, and 19 per cent in Consumer Electronics. The Oil & Gas segment saw increased revenue due to higher volumes, partially offset by lower gas price realization.

Reliance's EBITDA surged by 16.7 per cent year-on-year to Rs 44,678 crore , attributed to various factors. JPL's EBITDA increased by 11.5 per cent, RRVL's EBITDA grew by 31.1 per cent, and the O2C segment displayed sustained performance. Despite planned maintenance impacting yields, the Oil and Gas segment's EBITDA rose sharply by 49.6 per cent, driven by increased gas and condensate production. Depreciation rose by 26.7 per cent, Finance Costs increased by 11.3 per cent, Tax Expenses grew by 22.1 per cent, and Profit after tax improved by 10.9 per cent to Rs 19,641 crore. The capital expenditure for the quarter was Rs 30,102 crore directed towards pan-India 5G rollout, retail infrastructure expansion, and new energy ventures.