RIL to become zero net-debt company in 18 months: Mukesh Ambani
RIL chairman Mukesh Ambani on Monday said that the group has a clear roadmap to become zero net-debt company in 18 months.
The statement came in the wake of rising debt at the group level that reached a level of group Rs 1,54,478 crore in the last financial year.
Addressing the group’s 42nd AGM in Mumbai, Ambani said he was confident of growing the company’s consolidated earnings 15 per cent annually over the next five years.
He said the group’s telecom vertical Reliance Jio and retail venture Reliance Retail would account for 50 per cent of the company’s earnings soon.
The RIL chairman also assured shareholders that they would continue to get periodic bonus issues and higher dividends once the group became debt-free.
