Reliance Industries emerges as the largest wealth creator in India for the third year in a row
Mukesh Ambani-owned Reliance Industries Limited (RIL) emerged as the largest wealth creator in India for the third time in a row. Ambani created the most wealth for shareholders in the last 5 years with his company RIL. It is an Indian multinational conglomerate company.
Motilal Oswal Financial Services 26th Annual Wealth Creation Study revealed the performance of RIL. Reliance Industries generated a total wealth of Rs 9.7 lakh crore, beating its own previous record of Rs 5.6 lakh crore during 2014-19. Motilal Oswal said in the report that Reliance oil-to-chemicals and retail businesses are strongly rooted in the physical market. The report further stated that Reliance’s telecom business is rooted in the digital dimension.
Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services said that Reliance has strong management of cash flow. RIL has been reinvesting judiciously and has been able to create world-beating businesses.
Motilal Oswal Financial Services 26th Annual Wealth Creation Study
Motilal’s study covered the financial year 2015-16 (FY16) to FY21 and ranked the top 100 companies in descending order of absolute wealth created. The top 100 companies created Rupees 71 trillion in wealth in the past five years. Motilal’s wealth creation study was commissioned by Raamdeo Agrawal. The study ranked firms according to speed, price CAGR (Compound Annual Growth Rate) during the period.
Motilal’s report stated that technology is the only potential contender for the top spot next year. Rapid digitisation helps to achieve the speed and precision that the competitive marketplace demands. Mukesh Ambani recently said that India must make the 5G roll-out a priority to join the next-gen digital transformation bandwagon. Ambani said their company is currently focused on 5G execution in India at the Indian Mobile Congress meet. He earlier took advantage of digital transformation by offering free internet services to people and distributing free Jio sims in 2016.