Mumbai, June 18: The much awaited annual general meeting (AGM) of Reliance Industries Ltd (RIL), the country’s largest private company, started here Friday.
Praising the performance of the Reliance group in the last year, RIL chairman and managing director Mukesh Ambani said the conglomerate is ready for a big surge in a growing India.
“Reliance is ready to become the vanguard of India’s epic leap forward,” en emphatic RIL chairman told the shareholders.
He added that despite the global economic slowdown, RIL’s turnover surged 37 percent last fiscal to Rs 200,400 crore.
The company has now become the largest exporter in the country, Ambani said.
He added that RIL would supply natural gas to brother Anil Ambani’s power plant as and when they are ready to receive the fuel, subject to approval by the Government.
RIL is and will continue to be covered by provisions of Production Sharing Contract; government of India has more than significant stake in its oil and gas portfolio.
RIL proposes 70 percent dividend or Rs 7 a share for 2009-10 fiscal.
–Agencies