New Delhi: Reliance Industries chairman Mukesh Ambani on Monday said that the company has a clear roadmap to become zero net-debt company in 18 months assuring shareholders that they would be equally rewarded for it.
Addressing the RIL's 42nd AGM in Mumbai, Ambani said, “As we achieve our zero net-debt target this financial year, I assure you my dear shareholders that we will reward you abundantly through higher dividends, periodic bonus issues and other means, and at a more accelerated pace than any time in our history.”
RIL Investments of nearly Rs 5.4 Lakh crore over the last five years will generate EBITDA in excess of USD 1 billion annually for over a decade, he added.
Ambani said that RIL will induct leading global partners in Jio and Reliance Retail in the next few quarters, and move towards listing of both these companies within the next five years.
Shares of the company are up 20 per cent since the last AGM in July 2018, but have underperformer Nifty by 11 percent over the past three months. The stock has been down 9 percent in last one month.