Why This Goal Matters
Reliance Industries is already one of India’s largest companies with a market capitalization of over ₹19 lakh crore. Doubling that by FY30 means creating massive value for shareholders. Analysts believe this growth will come from Jio, Reliance Retail, and new energy projects.
The company has faced mixed results in recent quarters. Yet, Ambani’s roadmap focuses on long-term growth and transformation rather than short-term gains. Investors are watching closely ahead of the August 29 AGM.
The Role of Jio and Retail
Jio and Retail are the twin engines driving Reliance forward. Together, they account for more than half of the group’s earnings today. The company expects both businesses to double earnings within three to four years. Tariff hikes in Jio and strong recovery in retail operations will fuel this surge.
According to CLSA, the narrow trading range of RIL’s stock offers investors a chance to benefit from this growth story. Goldman Sachs projects retail revenues could grow at 17% annually, thanks to quick commerce and in-house brands.
New Energy: The Third Pillar
The new energy vertical is a crucial part of Ambani’s strategy. Reliance has already started with a 1GW solar line and plans to scale to 10GW by 2026. This integrated model, from polysilicon to panels, will lower energy costs and boost green power consumption within the group.
Nomura highlights this as a future growth driver, with potential world-leading scale in solar solutions and battery storage. Captive use of renewable energy could cut power costs by 25% across RIL businesses, strengthening competitiveness.
Global Investors Back Ambani’s Vision
Major investment banks are endorsing this roadmap. HSBC upgraded RIL to Buy after four years, citing catalysts like new energy and a retail turnaround. Goldman Sachs and Nomura also support the transformation plan. These endorsements underline the strong confidence global investors place in Ambani’s leadership.
Crucially, Reliance aims to maintain net debt to EBITDA below 1x, signaling solid cash generation despite heavy capital expenditure. That reassures shareholders concerned about financial risk.
Key Catalysts Ahead
Several triggers could boost RIL stock in the near term. These include:
- Tariff hikes boosting Jio’s margins.
- Retail’s revival in growth momentum.
- New energy projects going live by 2026.
- A potential Jio IPO within the next 12–15 months.
These factors will be central to the company’s AGM on August 29, where Ambani may announce further strategic steps.
What It Means for Shareholders
For the 44 lakh shareholders of Reliance, this roadmap offers a once-in-a-decade opportunity. With stock already up 16% this year, analysts see more room for growth. If the company delivers on its targets, shareholders could benefit from a significant re-rating of the stock.
Reliance’s journey reflects India’s larger growth story—digital expansion, retail transformation, and a push toward green energy. Ambani’s goal to double the company by FY30 aligns with India’s aim to become a global economic powerhouse.
