Reliance Industries (RIL) is in focus ahead of its annual general meeting (AGM) scheduled on August 29. This will be the 48th AGM of Reliance. Billionaire Mukesh Ambani is expected to make key announcements. To shareholders, Reliance is offering facility to exercise right to vote on key proposals, one of which includes the first dividend announcement after its 1:1 mega bonus issue. Management commentary on Jio and Retail IPO is also expected, along with developments for new energy.
Reliance Industries AGM:
As per the latest filing, the company is providing its members the facility to exercise their right to vote on resolutions proposed to be passed at AGM by electronic means ("e-voting"). Members may cast their votes remotely on the dates mentioned. The Company has engaged the services of KFinTech as the agency to provide the e-voting facility.
The e-voting facility will start on August 24 and end on August 28.
According to the filing, only a person whose name is recorded as on the Cut-off Date, i.e., Friday, August 22, 2025, in the register of members I register of beneficial owners maintained by the Depositories, shall be entitled to avail the facility of remote &-voting or voting through Insta Poll.
Reliance Industries Dividend:
On August 29, one of the much-awaited developments is Reliance's proposal for dividend payout. In its filing, Reliance said that the dividend, if declared at the AGM, will be paid within a week from the conclusion of the AGM.
The record date for the upcoming dividend has passed. The company fixed August 14 as the record date to determine eligible shareholders for the dividend ahead. This means that if on August 29, there is a dividend announcement, only those shareholders will be eligible who held RIL shares as of August 14, 2025. New shareholders from August 15 will not be eligible.
This will become Reliance Industries' first dividend after its big 1:1 bonus issue. So far, Reliance has delivered up to 3 bonuses. All three bonus issue ratios are 1:1 each, and their ex-dates are in November 2009, September 2017, and October 2024.
Reliance Industries Share Price:
At the time of writing, Reliance stock traded at Rs 1380.50 apiece, up by 0.5% on BSE, with market cap of Rs 18,69,578.76 crore. In past five sessions, RIL shares have rallied nearly 1%. However, YTD, the stock is down by nearly 1%.
BUY Reliance Stock?
JM Financial is the latest to recommend on Reliance stock. As per the brokerage, RIL, in its FY25 annual report, reiterated plans to establish 100GW of renewable energy by 2030 to achieve Net Carbon Zero by 2035; it also highlighted that its Green Energy Giga complex and related projects are progressing on schedule for gradual commissioning over CY25/26. On the O2C business, it highlighted that while petchem margin outlook is subdued on huge capacity addition amidst muted demand, refining margin outlook is robust as rampup of new refineries is likely to be offset by shutdowns.
In regards to digital business, Reliance highlighted that Jio's SA 5G network carries ~60% of India wireless data traffic and has ~191 million 5G users at end-FY25. Further, Jio accounted for ~70% of new homes addition in industry in FY25 via its aggressive rollout of JioAirFiber; the company reiterated its 100 million homes target. Digital business capex moderated to INR 385 billion in FY25 (vs. INR 574 billion in in FY24) taking cumulative investment to ~INR 5.5 trillion; EBITDA contribution from digital business ex-telecom is ~INR 38 billion in FY25 and accounts for 6-7% of overall Digital EBITDA.
For retail business, Retail business capex rose to INR 337bn in FY25 (vs. INR 245bn in FY24 but below peak capex of INR 514bn in FY23); the management is focused on expanding consumer brands and strengthening digital and new commerce capabilities, cited the brokerage.
That being said, analysts at JM Financial said, "RIL's consolidated FY25 capex remains moderate at ~INR 1,311bn led by moderation in digital capex; net debt is likely to have peaked as capex likely to get fully funded via internal cash flows. We reiterate BUY (unchanged TP of INR 1,700) as we believe RIL has industry leading capabilities across businesses to drive robust 15-20% EPS CAGR over the next 3-5 years, particularly driven by both consumer businesses with Jio's ARPU is expected to rise at 13% CAGR over FY25-28 with ARPU being on a structural uptrend given the industry structure, future investment needs, and the need to avoid a duopoly market."
Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.
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