Mukesh Ambani addresses the Reliance Indusries AGM:-
- Aim to outperform global peers
- Partenership with BP in a view to bring in new technology
- Business environment hit by unprecedented price volatility
- FX Rates, continued subsidies remains challenges for business.
- Two unprecedented economic shocks in the last 5 years
- Investment in retail to create more job opportunities
- FY12 profit limited due to low output from KG D6 gas output
- Have bought back 27.9 million shares so far.
- Reinvesting cash flow in new projects
- Have spent Rs 1,929 cr in share buy back so far
- Using 5 new crude varieties to augment supplies
- Agressively persuing partnership for crude supply
- Reverses from D1D3 block have been difficult to extract
- Hoping for CBM clearances soon
- Value added products to lead growth in petrochemicals
- Refining margins remian among the best globally
Details to follow:-
