Reliance AGM 2026: RIL AGM | CMD Mukesh Ambani Unveils Jio Platforms IPO Roadmap | N18L

The Reliance AGM is beginning. Let's cut across.

Thank you, respected chairman. Your words, your guidance, and the faith you have bestowed upon the team at Jio inspire us to scale greater heights. My dear shareholders, in 10 years, Jio has reached an operational scale that is simply extraordinary. The Jio user base has crossed 524 million, cementing our number one position. Our 5G subscriber base has crossed 268 million, the largest for any single country operator outside China, with 77 million net additions during this year. Jio AirFiber has continued to scale rapidly with 13 million connected homes. Total data traffic on Jio's network in FY26 stood at 241 exabytes, growing 30.8% year-on-year, placing us amongst the largest data operators on the planet. Jio Platforms delivered revenue of 1 lakh 46,885 crores, growing 14.6% year-on-year. EBITDA reached rupees 76,255 crores, an 18.8% growth with EBITDA margin improving by 190 basis points to 51.9%. For the first time in our history, profit after tax crossed rupees 30,000 crores, growing at 15.1% year-on-year. The next chapter of Jio's growth will be powered by five commitments. First, to make Jio true 5G the foundation of India's next big digital leap. Our target is to migrate all subscribers to 5G by 2030 whilst advancing India's leadership position in 6G standards. Second, to take high-speed home broadband to every part of India through JioAirFiber. Home connections are now growing at a phenomenal rate of up to 60,000 per day. Per capita data usage has reached 42.3 GB per month, one of the highest in the world. Third, to digitize Indian enterprises and small businesses through initiatives like JioPC. Fourth, to ensure AI for everyone, everywhere. Fifth, to take India's technology to the world. The proprietary deep tech stack at Jio is now ready for deployment with international partners. Jio connected India on the ground. Now, we must connect India from the skies. Jio is evaluating the development of a sovereign low earth orbit satellite constellation for India. We are also partnering with leading global constellation providers by leasing satellite capacity while building our own long-term sovereign capability. Reliance Intelligence is building India's sovereign AI backbone in Jamnagar. This cutting-edge infrastructure will be powered entirely by clean energy from Reliance's own solar generation. The first 120 MW will be commissioned by the end of 2026. We are operationalizing an initial fleet of advanced Nvidia GB300 GPUs, equivalent to more than 75,000 H100 GPUs on an AI inference basis. Our Google partnership has deepened into a truly AI-first collaboration. Our second major partnership is a joint venture with Meta, which operationalizes the Llama open-source AI for Indian enterprises. Reliance Intelligence is building trusted, affordable, multilingual AI services designed to be accessible in 22 Indian languages. Just as Jio made data extremely affordable for every Indian, Reliance Intelligence will disrupt AI economics by making it dramatically more affordable for every Indian by the end of this decade. Unlike global AI platforms that build in English and translate later, Jio is building AI natively in Indian languages. Bharat ka AI Bhartiya bhasha mein bolega — India's AI will speak in Indian languages. Bharat ke dilon ko jodega — it will connect the hearts of India. Bharat ki tasveer aur takdeer ko badlega — it will change India's picture and destiny. We're building AI directly into the heart of the Jio network. No app to download, no number to add, available to every Jio customer in every Indian language.

In this demonstration, Arjun Mehta is deep into a quarterly review call with five people when he realizes three colleagues who should be weighing in aren't on the line. He says, 'Hey Jio, add Rohan, Priya, Kavya.' The AI responds, 'Adding three more participants to the call.' Within seconds, the three of them are connected — no fumbling for numbers, no separate conference bridge. As the call runs long, Arjun says, 'Hey Jio, start transcribing this meeting.' The AI responds, 'Transcribing the call now,' capturing in real time and identifying each of the eight speakers by voice. Walking to the lift, he says, 'Hey Jio, summarize the call for me and create action items for all.' The AI generates a summary with decisions and action items tagged to each owner. His own two action items arrive as an SMS with a reminder already set. On the drive home, he calls his wife Rhea. His daughter Myra reminds him it's Friday. On the same call, he says, 'Order a margarita pizza.' The AI call agent knows his usual outlet and saved address, asks the right two questions, and confirms a medium-sized pizza with Campa Cola for 748 rupees. By the time he arrives home, the pizza has arrived and the family tradition continues.

I now invite my colleague Kiran to join me.

Thank you, Akash. Now, let's talk about MyJio. MyJio is India's most used self-care app with over 60 crore users. For a decade, it has been a place you go to recharge or check your balance. With AI, something fundamental has changed. We are transforming MyJio from an app into a personalized Jio AI advisor and relationship manager. You no longer navigate MyJio. You say what you need and MyJio starts working. Are you shifting to a new city? Just voice your intent and MyJio acts instantly. In the demo, when a user says they're moving to Pune, the AI agent confirms the new address is covered, finds an installation slot for July 15th, and sets the transfer in motion. For travelers going overseas, it finds the right roaming pack and sends real-time usage alerts. For those wanting a new eSIM phone, it handles self-KYC and activates the phone in minutes, in all major Indian languages, voice and text. Privacy stays at the heart of it. MyJio acts only with your consent. Every action is logged and everything involving payment always needs your confirmation. Now, let's move to Jio Home. Jio powered India's journey from voice to data to video, pioneering gigabit broadband for every Indian. Today, we take the next leap. Jio Home's next generation offering delivers multi-gigabit capability, up to 5 Gbps download and 1 Gbps upload, dedicated to your home through our multi-gigabit ready Jio AirFiber. Connected devices per home have grown multifold in five years. One member streaming, another cloud gaming, a third on a video call, a child in an online immersive class — all at once, all flawless, nothing slows down. That's what 5 Gbps gives you. This makes India ready for 8K multi-screen entertainment. With 1 Gbps upload, your home becomes a true global workplace. We're entering the era of spatial computing with volumetric video, where AI and XR create interactive immersive experiences. We're reimagining the entire Home Connect journey. Within 15 minutes of showing interest, you will get a call back in your own language. Your Wi-Fi will go live within 24 hours anywhere in India. Today, we announce Jio Teleframe, the home for agents in your home. This is a family of Jio AI agents built for everyday life — AI agents for the day, for care, for guests, for entertainment, shopping, and the connected home. These agents know you, your family, your routines, the room around you. They sense context and bring the right help forward without anyone opening apps or searching menus. The school morning starts before anyone opens an app. Teleframe knows the family is leaving soon, so the day agent brings up the rain forecast and the doctor appointment. Planning a festival lunch? The guest agent checks who's arriving, suggests dishes based on past family choices, builds the grocery list, and places the order for the right delivery window.

Match night begins with the India match. The agent opens Jio Hotstar, sets light, fan, volume, and keeps score updates visible. Different agents, one home. A home that understands you and looks after the people in it.

Dear shareholders, let me now talk about our media and entertainment business. In FY26, Jio Star completed a remarkable first year of full operations. Today, Jio Star, Jio Studios, and Network18 together constitute India's most powerful media ecosystem. The business posted a full-year revenue of ₹34,917 crore with an EBITDA of ₹5,842 crore and a net profit of ₹3,434 crore. Jio Star remains India's leading television entertainment network with a 34.7% viewership share, nearly equal to the next three players combined. Every day, 389 million viewers choose our content across genres and languages. On digital, Jio Hotstar has reached a scale amongst the largest in the world and the largest in India. The platform averaged 451 million monthly active users during the year. Our live streaming capabilities continue to set global benchmarks. During the recent T20 World Cup where India was victorious, Jio Hotstar recorded a world record 72.5 million concurrent viewers in India. Today, nine of the 10 highest global concurrency records belong to Jio Cinema. IPL 2026 reached over 700 million viewers on our platform, demonstrating the unparalleled reach of our digital ecosystem. Jio Cinema also became the first Indian paid OTT platform to cross 1 billion downloads and is now available on 99% of connected TVs in India. These milestones reflect a simple reality. Whether on television or digital, Jio Star and Jio Cinema are where India comes to be entertained. We launched multiple AI-driven platform initiatives in FY26. ChatGPT-powered conversational discovery with recognition of Indian accents and regional languages. Jio Cinema's micro content hub, Tadka, launched in April this year, has already amassed more than 100 million users in under 2 months. The first-ever in-app commerce integration with Swiggy during IPL matches, which enabled food ordering without leaving the live video stream. We also pioneered interactivity features such as voting, live chat, and meme creation. More than 100 million unique users have used these features, generating over 11 billion interactions. Now, let me introduce Jio Cinema GenAI Media Studio, or simply JAMS. JAMS is an end-to-end AI-native content production pipeline for Bharat, spanning the full journey from ideation and storytelling to image, audio, video, and final production workflows. Through JAMS, we aim to nurture a new generation of creative technologists who can combine storytelling with AI to produce premium quality content for India and the world. Every product decision, every experience we build is designed to put power and choice and control firmly in the hands of the consumer. This philosophy has earned us the loyalty and trust of 500 million users on Jio Hotstar. Today, we are proud to present an exciting pipeline of innovations that will redefine how consumers experience entertainment and sports in the future, seamlessly woven into how they shop and engage across the Jio Hotstar ecosystem. Let me take you through a feature that gives you your own personalized story engine. AI Snapshot builds you your own recap. Every key moment stitched into a narrative right on your screen. Here's a demo to show you how it works.

Mira's been meaning to rewatch Arya for months. Season 3 just dropped. She jumps quick. Ten minutes into episode 1, Daulat appears on screen and is talking friendly with Arya. She freezes. Wait. Wasn't he the one who killed her husband? She remembers the shock of that moment, but the why, the full shape of it, has gone fuzzy. She doesn't open a browser to search. She doesn't rewind to season 1. She just asks, "Why is Arya friends with Daulat? Didn't he kill her husband?" It builds the story for her. The early scenes, Daulat laughing at the serene dinner table, the small moments of tension she didn't notice the first time. The deaths, the deals, the slow unraveling of a loyalty that was never what it seemed. Not a summary of what happened, but the reason it happened. Assembled from across hours of storytelling in minutes. She hits play on the first scene. This time, when Daulat smiles at Arya, she knows exactly what that smile means.

For the first time ever, a marketplace is created on an entertainment platform where you can shop while you watch without leaving your favorite content. Introducing content commerce on Jio Hotstar. Here's a closer look at how you can move from screen to cart seamlessly without leaving your screen.

You are watching Durandar on your phone when something on screen catches your eye, a sherwani, and just like that, you want it. Instead of searching, you tap on the shop button right inside Jio Hotstar. The AI reads the frame in real time, identifying every outfit on screen. The exact items you're looking at appear tagged and priced. The shop end brings it all together with retailer information, pricing, and alternatives in one marketplace. You find the one you like and tap buy now. It fetches your delivery address and payment details, no forms to fill. The order is confirmed, and you're right back to watching Durandar. From inspiration to intent to purchase, all in a few minutes without leaving your screen.

At Jio Hotstar, we understand that you have diverse interests and want to watch multiple feeds all at once, but don't want to choose between entertainment, sports, or news. We have ensured you watch it all on one screen, side by side. Here's a glimpse of multi-view in action.

Vikram has a problem most people would envy. India are in a tense run chase. The tension is building ball by ball. Breaking news is also rolling in. Election results, state by state, constituency by constituency, too close to ignore. Moreover, Bigg Boss eliminations are happening. Any other day, he'd have to choose, but not today. He picks up his remote and builds his screen. The match. He needs to watch every ball of this chase. Adds the news channel to track state results live as they're declared. Next up, Bigg Boss eliminations. And lastly, he adds another news channel in Bengali. A different desk, but same urgency. He switches from the match to see who's trailing and who is winning. He notices an interview happening on the news channel in Bengali. Four things, one screen, silent, present, there when he needs to be.

Dear shareholders, let me now speak about Jio Studios. India's number one content studio by revenue, catalog size, and box office share. The Dangal franchise crossed ₹3,000 crore in worldwide box office gross, making it the first Indian film duology in which each film crossed ₹1,000 crores. With this, Jio Studios completed three consecutive years as the highest-grossing Hindi film studio and now has over 500 awards across its content slate. Dear friends, Network18 reaches 250 million people every month through television and has over 450 million subscribers and followers across its digital platforms. It has also established a stronghold on social platforms with more than 65 billion video views this year. Our flagship brands CNBC-TV18, CNN-News18, and News18 India continue to lead their categories. Moneycontrol is India's leading financial intelligence destination. Moneycontrol Pro and Moneycontrol Superpro have strengthened Moneycontrol's subscriptions business with a fast-growing feature-rich offering for investors seeking actionable insights. Firstpost remains the premier destination for audiences seeking an Indian view of the world. With the creator economy growing exponentially, the company launched Creator18. This offering strengthens its ability to deliver social media solutions for clients and develop new formats that resonate with the younger audience. With that, let me invite our chairman back on to stage.

Thank you, respected Chairman, esteemed shareholders. Financial year 26 was a year of strong execution and measurable acceleration. Gross revenue ₹3,70,026 crore, growing 11.8% year-on-year. EBITDA grew 7.9% to ₹27,033 crore, 3.4 times that of our nearest competitor. Profit after tax rose 12% to ₹13,838 crore. Our registered customer base reached 387 million, up 11% year-on-year. We processed 1.93 billion transactions, up 39% year-on-year. That single number captures something significant. Quick commerce coming of age, adding a promising new layer to the growth of large basket shopping. We now operate 20,160 stores across 78 million square feet. In grocery, our Smart Bazaar network crossed 1,000 stores, one of the fastest large-scale retail rollouts in the world. A large part of this network now serves tier two and below markets. In many of these towns, Smart Bazaar is the first organized modern retailer, transforming access for millions and creating livelihoods that did not previously exist. This year, we launched the old goods exchange program across Smart Bazaar stores, collecting over 4,400 tons of recyclable material in the first 45 days. The scale of our grocery operation reflects the strength of our farmer and supply chain partnerships. We procured approximately 5.7 lakh metric tons of fresh fruits and vegetables this year, partnering with over 40,000 farmers across 110 collection centers, delivering low prices to consumers and better returns to the farmers. We sold 12 lakh metric tons of staples. In home and personal care, our portfolio is growing three times faster than the industry. Clean shampoos are growing at eight times the market rate, laundry shots at nine times, and roll-ons and sunscreens at four times. Quick commerce is fast becoming a daily habit for millions of Indian households, and we are expanding in this space. JioMart has become one of India's largest quick commerce networks with 3,100-plus stores serving 1,200-plus cities across 5,100-plus PIN codes. Average daily orders grew 3.6 times year-on-year. From smartphones to last-minute outfit changes, thousands of products across these diverse categories arrive within hours, even in small towns. Repeat orders on quick commerce grew more than sixfold. In fashion and lifestyle, we sold over eight lakh garments every day. AJIO's average bill value rose 23%, average selling price grew 17%, and option count expanded to 3 million, up 22% year-on-year. AJIO has grown seven times in five years. AJIO Rush, our 4-hour delivery promise, now covers 600-plus towns. SHEIN has crossed 11 million app installs, adding 1,000 new styles daily. Dear friends, global fashion at Indian prices is an idea whose moment has arrived. Our premium brand segment added exclusive long-term partnerships with Stella McCartney, Kurt Geiger, Massimo Dutti, and Fabletics. Playing a perfect foil, Tira is anchored in deep pride in India's rich heritage, placing traditional Indian products on mainstream consumer shelves. Tira recently introduced Puraveda, its own Ayurveda-inspired beauty range, giving Indian rituals the global stage they deserve. Reliance Retail also welcomed Pahadi Local into its family. Known for its pristine mountain-sourced ingredients and its iconic Gutti ka Tel, this homegrown brand represents the best of authentic Indian wellness. We will scale our own brands to consumers across India and beyond, ensuring Indian beauty products stand proudly alongside the world's leading global giants. In consumer electronics, we grew significantly faster than the market. We sold over 2,500 phones every hour along with more than 4,000 televisions, 8,000 large appliances, and 1,600 laptops every single day. Our after-sales network spans 1,621 locations handling 6.5 million service volumes this year, reaching nearly 19,000 PIN codes. JioMart Digital is now India's largest mobile distributor with 1.2 lakh active retail partners reaching over 85% of the addressable retail universe. In jewels, average bill value grew 53% year-on-year with a deliberate and continuing focus on design-led diamond jewelry. Today, Swadesh directly collaborates with over 900 artisans across 270-plus craft forms. From Longpi pottery and Naga weaving in the northeast to Dhokra metalwork in Chhattisgarh, Banjara embroidery in Telangana, and Toda embroidery in Tamil Nadu. Over 3,000 individuals from tribal communities find employment through this program. These are not transactions. These are acts of cultural preservation at commercial scale. Dear shareholders, the intelligence era in Reliance Retail is not a vision. It is already live. But the intelligence we are building is not merely computational. Indian consumers are shaped by culture, by community, by aspiration, by festivals, by season, and by sentiment. What will separate Reliance Retail from every other retailer in the world is not just the scale of our data, but our ability to combine technology with a deep understanding of Indian consumers. In the decade ahead, Reliance Retail will not merely sell products. We will catalyze a sustainable, inclusive, and technologically advanced way of life for every Indian, contributing our fullest to the vision of a Viksit Bharat. Dear shareholders, 3 years ago, we took a leap of faith that India could produce FMCG brands of global quality at Indian prices, and scale them faster than anyone thought possible. Reliance Consumer Products Limited has done just that, building a national FMCG powerhouse from the ground up and doubling its revenue in a single year. In financial year 26, RCPL achieved gross revenue of ₹22,000 crore, growing twice year-on-year. What took our peers decades, we achieved in just 4 years. It made us one of the fastest-growing FMCG platforms in India's history, and one of the fastest-growing consumer product companies anywhere in the world. Today, RCPL products are present in more than 40 countries through exports and franchise sales, making RCPL a truly global Indian consumer brand. This year, however, was not without its challenges. Geopolitical headwinds drove up raw material and packaging costs, and disrupted global supply chains. We absorbed these shocks entirely within the business. Staying true to our consumer-first approach, we ensured our products remained accessible and affordable for every Indian household. RCPL is now a direct subsidiary of Reliance Industries having completed its demerger from RRVL in December 2025. With singular focus on its own markets, its own consumers, and its own ambitions, the results have been exactly what we envisioned. Campa achieved ₹4,700-plus crore in gross sales in FY26. Having challenged decades-long market leadership, it is now India's fourth-largest carbonated soft drinks brand with a double-digit market share in key markets. Campa is not merely a brand, it is India ka thanda. Independence, our daily essentials brand, delivered ₹2,600 crore in revenue and was recognized as one of India's most trusted brands of FY26. In packaged drinking water, RCPL is now India's third-largest branded water player, powered by Campa Shock launched nationwide in October 2025. In beverages, we grew 3.2 times year-on-year. Daily essentials grew 1.6 times. Our home and personal care portfolio grew 1.3 times. The foods category delivered positive momentum across biscuits, confectionery, snacks, and processed foods, with Still repositioned for a new generation of consumers. Friends, this year we made a series of focused acquisitions extending the RCPL platform in precisely the right directions. In daily essentials and foods, we acquired majority stakes in Udhyam Agro Foods and in Southern Health Foods, known by its key brand Mana. A cherished regional name to which we will bring national fame. In beverages, we acquired Goodness Group Global, the Australian business behind Next Bar, Byron, and paste co-created with cricketer Pat Cummins. In personal care, we acquired global rights excluding select territories to heritage brands like Brylcreem, Toni & Guy, Adidas, and Matey, significantly deepening our grooming and bathing portfolio. We're also building brands with cultural resonance. We rode the excitement of the T20 Men's Cricket World Cup, activating Campa Cola and Sun Crush to powerful consumer response. We dominated IPL with Campa Energy building national momentum through high GRPs across India. We deepened our regional connect through Power Up in Andhra Pradesh and Telangana and Purple Energy in Tamil Nadu. Dear shareholders, the Indian consumer is evolving. We're not just keeping pace, we're anticipating what comes next. Our competitive advantage rests on four pillars. First, deep tech innovation. Our state-of-the-art R&D center staffed by over 125 scientists has developed more than 100 products and filed nine new patents and 11 design applications in the last year alone. Second, advanced manufacturing scale. ₹10,000 crore of rupees invested to date with beverage production now spanning 12 states through high-speed bottling lines in multiple greenfield plants. We're building food parks across India, modern integrated facilities with multi-category production lines spanning biscuits, chocolates, staples, and packaged foods designed to drive scale efficiencies through cross-category integration. Over the next 3 years, a further ₹30,000 crore of investments will build one of Asia's largest networks of such integrated food parks, AI-driven, robotics-enabled, and engineered for lasting cost leadership. Third, distribution depth. 3 million-plus outlets reached through 5,000-plus distributors in 3 years, faster than any player in Indian FMCG history. We're expanding into the northeast, West Bengal, Bihar, and other geographies. Fourth, value proposition. India's large rural consumer base and millions of middle-class households share one aspiration: global quality at Indian prices. That is the founding logic of everything we make, price, and distribute. Friends, we're building a business where every decision is powered by data and every process is driven by intelligence, embedding AI across all our functions, from understanding what consumers want to planning what we produce to how we move our products across the country. This foundation will help us move faster, operate smarter, and remain closer to what our consumers truly need. Our vision is simple: to be at the heart of every Indian home. Not in one category, but across the full arc of everyday Indian life. From daily essentials and staples to packaged foods and snacks to the moments of indulgence that make life worth savoring. We're building not merely a portfolio of brands, but a consumer ecosystem that grows with every stage of Indian life. RCPL's near-term ambition is to reach ₹1 lakh crore in revenue by financial year of 2030. Our long-term ambition is to become one of India's largest FMCG companies with a global platform to match. We've just begun scripting the best of RCPL. Soon, it will be a value-creating engine for Reliance Industries, comparable in scale and profitability to our retail business. This is my assurance to our esteemed shareholders. Thank you, and let me now welcome back the chairman.

Thank you, respected Chairman. My esteemed shareholders, Reliance's exploration and production business is a strategic cornerstone of India's energy security. Our KG D6 and CBM fields together constitute one of India's most productive natural gas platforms. When the West Asian conflict disrupted LNG supplies, Reliance swiftly redirected its domestic gas to priority sectors such as city gas distribution, fertilizers, and power generation. When the nation needed it most, Reliance delivered. This business reported revenue of ₹23,861 crore and an EBITDA of ₹19,050 crore for the year 26. Friends, our KG Basin fields performed in line with expectations. Gas production was nearly 26 MMscmD, which is about 30% of India's natural gas production. Further, oil production was about 18,000 barrels of oil per day. We are executing a targeted well intervention program to sustain plateau production through the year 27 and beyond. On CBM, I am pleased to report impressive momentum due to the successful implementation of multilateral wells, the first of its kind in India. Our second campaign is on schedule with 23 of 40 multilateral wells completed, and production momentum is building. Given E&P's vital role in India's energy independence, Reliance will continue to actively pursue new opportunities in this sector. We are building not just for today's energy needs, but for India's energy future. Dear shareholders, let me now speak about our oil-to-chemicals business. Every business aspires to one quality above all else, the ability to stay strong when the external environment turns volatile. In the year 26, our oil-to-chemicals business demonstrated that quality not in theory, but in practice under perhaps the most extreme conditions. Revenue for the year grew 5.7% to ₹662,401 crore. EBITDA grew 10.1% to ₹60,546 crore. Friends, let me take you back to March 2026 when the Strait of Hormuz was disrupted. Crude and product markets witnessed extraordinary volatility during the period. Yet, our diversified sourcing and agile logistics sustained operations, helping us maintain near-full refinery throughput in the fourth quarter. However, the conflict impacted margins as physical barrels commanded a premium, freight rates jumped, and insurance costs surged. We increased LPG supply fourfold to help the nation tide over the import disruption. This is the structural advantage of building the world's most integrated, most flexible, most resilient refining and chemicals complex. The decades of investment in feedstock diversity, gasifier infrastructure, and operational excellence delivered when it mattered the most. Dear shareholders, as committed last year, our major investments are progressing well. Let me walk you through them. Advanced execution is underway on the 3 million ton PTA facility. This project will cement our position as one of the world's most cost-competitive producers. Our carbon fiber facility at Hazira is poised to become one of the world's largest and most advanced facilities of its kind. This is a monumental achievement and provides a platform for diverse industries ranging from wind energy to hydrogen and from humanoids to defense. Our PVC and CPVC expansion, including a 1.2 million ton PVC plant at Nagothane, will significantly cut imports of materials that millions of Indian homes and industries depend on every day. These capacities will serve India's growing demand across infrastructure and consumer goods, boost value-added exports, and capture the next leg of growth. Friends, we continue to adopt digital technologies in innovative ways to enhance operational efficiency. Here are three specific examples of how we are digitizing operations. First, our proprietary AI-driven feedstock optimization tool now helps select the most efficient crude blends. Second, our digital logistics platform developed in-house streamlines chartering and supply chain operations. And third, the new-age smart contract execution tools improve speed and accuracy in customer transactions. Building on these digital foundations, we are progressing towards operating Jamnagar as the world's first end-to-end autonomous refinery, an industrial milestone that will define the next era of global refining. Dear friends, our consumer energy business under JioBP grew strongly this year, maintaining adequate fuel availability in domestic markets despite costs soaring above market prices in the last few months. JioBP petrol and diesel volumes grew 29% year-on-year, significantly outpacing industry growth and gaining higher market share. Our retail network grew to nearly 2,200 outlets with 400 under construction. We expanded EV charging to 80 cities and 45 highways, and grew our CBG network, making us the largest player in the country. Our CBG and CNG network covers 177 sites with volumes growing 68% year-on-year. JioBP remains India's most efficient and effective fuel retailing network. Dear shareholders, our O2C business is entering its next generational strategic evolution. Every barrel of crude we process will increasingly yield chemicals and high-value materials, not just fuels. More efficient, more export-driven, more valuable. This business financed our past. It is financing our future, and the best chapter is still ahead. My dear shareholders, there are businesses that create value and then there are missions that shape civilizations. Our new energy business is a unique combination of both. It is Reliance's most ambitious generational undertaking, designed to solve India's energy trilemma of security, affordability, and sustainability simultaneously at a scale that has no parallel. In the year 26, this mission moved from construction to commissioning. The Dhirubhai Ambani Green Energy Giga Complex at Jamnagar, spread over 5,000 acres, is now one of the world's most integrated clean energy manufacturing ecosystems. Our founding chairman, Shri Dhirubhai Ambani, always dreamt of making India self-sufficient in energy. This business is a manifestation of that dream. Dear shareholders, I am proud to report that our solar PV cell and module manufacturing lines have been commissioned and are now operational. Nearly 1 GW of HJT modules have been produced with around 2% higher energy yield, 15% better temperature performance, and 25% lower degradation than conventional modules. We have achieved ALMM listing for HJT technology, the first in India for this advanced cell type. This is a proud affirmation of Honorable Prime Minister Shri Narendra Modi's clarion call for Make in India. We are building towards 20 GW per annum of fully integrated capacity from polysilicon to ingots, wafers, cells, modules, and glass. Every step in this chain is a step towards Atmanirbhar Bharat. Friends, the first phase of our 40 GW annual BESS and cell giga factory is on track to be commissioned this year. All the equipment has already been delivered at the site, and we have now committed to scale this up to 120 GW of annual capacity. When commissioned, this will make Reliance one of the world's largest manufacturers of lithium iron phosphate batteries. Let me put that in perspective. In a world where supply chains are being contested and access to technology is being weaponized, building world-scale battery manufacturing capacity in India is not merely a business decision. It is a strategic imperative for national resilience. This is the holy grail of affordable, sustainable, and self-sufficient round-the-clock RTC power, and Reliance is making it real. Dear shareholders, let me now turn to where this ecosystem comes together. In the arid Kutch region, where we are developing a renewable energy hub across 550,000 acres, this hub is being built...

We are building a platform to deliver round-the-clock power at gigawatt scale, combining solar and battery storage systems in a single unique integrated architecture. This platform will become one of the lowest-cost resources of round-the-clock green power anywhere in the world. Once fully operationalized, the integrated hub will generate over 40 billion units of green electricity every year, approximately 3% of India's annual electricity requirement.

The dedicated Kutch to Jamnagar transmission corridor is under construction with EPC contracts awarded. Our peak installation rate target is 55 MW peak of solar modules and 150 MW hour of battery containers per day. I want you to pause and absorb that number. 55 MW peak of solar installations per day. 150 MW hour of storage per day. This is not just any project. We are gearing up for a world-scale deployment of clean energy infrastructure at a pace the world has never seen before.

Dear shareholders, green electricity is the foundation, but green molecules are the transformation. Our green chemicals program is advancing on plan. We are on track to commission our alkaline electrolyzer manufacturing giga factory. We will unlock four powerful monetization streams through green molecules: One, green urea, strengthening India's food security. Two, urea ammonium nitrate for our fertilizer needs. Three, green ammonia for co-firing in power generation. And four, biomethanol, a clean transport fuel and chemical feedstock.

I am proud to announce that Reliance has signed a landmark US dollar 3 billion long-term supply agreement with Samsung C&T for green ammonia, which is among the largest green ammonia off-take contracts in the world. This validates the commercial competitiveness of our green hydrogen platform. We are in advanced discussions for more such exports to Japan, Korea, and Europe with long-term off-take commitments. Our target of 3 million metric tons of green hydrogen equivalent green chemicals capacity in the next 10 years remains firmly in our sight.

Friends, step back for a moment. Consider what we are truly building here. The world's first fully sovereign clean energy ecosystem. Sunlight converted directly into electricity and green molecules. No imported fuel, no foreign technology, no exposure to the disruptions that have shaken the world this past year. Few enterprises globally are attempting this level of integration and scale. This is not merely a business. This is Reliance's most enduring strategic asset both for our nation and for the world.

Dear shareholders, building this ecosystem from scratch in India with indigenized technology has been harder and more complex than any road map could fully anticipate. We own that, but the foundation is now built. Commercial revenues from solar modules start rolling in this year. The battery factory commissions this year, and the Samsung C&T agreement is not a promise. It is a signed contract. From the year '27 onward, new energy will begin contributing meaningfully to Reliance's financial performance.

Dear shareholders, Reliance now contributes over 40% of India's entire compressed biogas production. We are on track for 55 plants producing approximately 1,100 tons per day by the end of year '27. Over the next 5 years, we target to establish integrated CBG hubs to achieve 1 million tons of annual CBG capacity. We are also advancing our work in underground coal gasification, which will convert India's uneconomic and low-quality coal reserves into clean syngas.

Dear shareholders, before I close, I want to leave you with one number, a number that to me defines what this new energy mission is truly about. 200,000. That is the number of green jobs we expect to create through the giga complex and the Kutch solar farm combined. 200,000 Indians, engineers, technicians, operators, construction workers, farmers, and entrepreneurs, whose livelihoods will be built on clean energy.

The clean energy transition will be an engine of inclusive prosperity. It will create jobs, reduce import dependence, boost exports, lower energy costs for every Indian home and every Indian factory, and fulfill our obligation to save Bhumata, Mother Earth, from the climate crisis. The world built its old energy on Middle Eastern oil. The world will now build its new energy on Indian sunshine.

Friends, for me, the new energy business is a third-generation business at Reliance, which we are building with the purpose and passion of first generation. It is our generation's contribution to India's energy story. My beloved grandfather and father proved that Indians can build the impossible. We are proving it again, and this time the whole world is watching. Let me end by proclaiming the motto of our new energy business. Harit Urja, Harit Vikas, Harit Bharat, Sarva Shreshtha Bharat. Thank you. Jai Shri Krishna. Jai Hind.

Thank you, Mukesh. And well done, Isha, Akash, and Anant. Dear members of the Reliance family, our esteemed shareholders, Namaskar. Congratulations on another path-breaking year of achievements and growth. None of this would be possible without your trust, partnership, and support.

This year, Reliance Foundation enters its 16th year of dedicated service to India, of putting our philosophy of we care into action every single day. Over the last 16 years, Reliance Foundation has touched the lives of over 97 million Indians across every single state of India. We work in nearly 100,000 villages, almost one in every six villages of India, with a simple vision to help every village become more self-reliant, more climate resilient, and full of opportunities and hope.

Our dear shareholders, over the past year we have continued to deepen our work across rural transformation, health care, education, sports, women's empowerment, disaster response, art and culture, and environmental sustainability. Today I would especially like to speak about three transformative initiatives that reflect our vision for a more prosperous, shared future. First, a university that will raise India's global standing in higher education. Second, a garden for all of us 20 million Mumbaikars to enjoy nature. And third, a medical city that will bring world-class healthcare to the heart of Mumbai.

Dear shareholders, I'm proud to share that we have received approval from the government of Maharashtra to establish a state private university. Our upcoming permanent campus at Dronagiri, spread across 410 acres, will be truly world-class in size, design, and excellence in academics and research. This state-of-the-art university will host seven world-class schools with a focus on AI and emerging technologies.

Respected shareholders, a truly compassionate society must care not only for its people, but also for the voiceless. This year marks the first anniversary of Vantara. And this year, we also laid the foundation stone of Vantara University, a global university dedicated to training the next generation of wildlife conservationists and veterinary scientists.

Respected shareholders, alongside education, sport remains a key focus area for us at Reliance Foundation. Through our education and sports for all program, we have reached more than 29 million young children and youths all over the country. This year, our Reliance Foundation athletes won 386 national and international medals.

As an IOC member and a proud Indian, I carry a dream very close to my heart. A dream shared by over 1.4 billion Indians to bring the Olympic Games to India. A dream in which the sporting world comes together on Indian soil. Truly an Olympics that the world will never forget.

A stronger India is built on the foundation of a healthier India. We are moving forward with our vision of a transformative medical city and medical college in Mumbai. Reliance's plan to modernize Seven Hills Hospital marks a significant milestone. With a planned capacity of 1,500 beds, Seven Hills is envisioned to be one of Mumbai's largest hospitals, leading in clinical research, cancer care, and neurological disorders.

Dear shareholders, last year, I shared with you a dream taking shape along Mumbai's coastline, the Coastal Road Gardens. Spread across 130 acres, these gardens will be a home to more than 60,000 trees shaping a vast new green lung for Mumbai. What Central Park is to New York, Hyde Park to London, and the Botanic Gardens to Singapore, we hope the Coastal Road Gardens will be to Mumbai.

Dear shareholders, while these landmark initiatives represent our vision for the future, our work on the ground continues to transform lives in meaningful ways. Whether it is empowering 1 million women entrepreneurs, helping nearly 2 lakh young Indians gain employment, or reaching over 23 million people for rural transformation. My dear Reliance family, we are living through an incredible moment in our nation's journey.

Friends, like I said at the beginning, India's time has truly come. We are a civilization reclaiming our destiny. India's rise today is not just an economic or cultural story. It is a human story. A nation of over 1.4 billion dreams finding a voice. At Reliance Foundation, we consider it not just our corporate social responsibility, but our moral and patriotic responsibility to stand in service of our nation.

Rashtra Seva motivated by Rashtra Bhakti should become a Rashtriya Abhiyan. That is a calling of every single Indian. We remain grateful for your trust, support, partnership, and shared belief in this path of Desh Seva and Desh Bhakti. Thank you. Dhanyawad. Jai Hind.