Reliance Retail Almost Doubles Valuation In Three Years
Mukesh Ambani led Reliance Retail’s valuation has almost doubled, notwithstanding the intervening Covid-19 pandemic.
Qatar Investment Authority recently became an investor in Reliance Retail, with an investment of US $1 billion for a 1 percent equity stake.
This investment values Reliance Retail at a pre-money equity value of Rs 828,000 crore as against it’s fund-raise in September 2020, when the valuation of Reliance Retail stood at Rs 428,000 crore.
Over the past few years, the division has attracted investments from large and reputable global investment firms and sovereign wealth funds owing, to its rock-solid fundamentals and compelling value proposition.
This was revealed by Mukesh Ambani at a Reliance Industries shareholders meeting held in Mumbai on August 28.
Reliance Retail posted annual revenues of Rs 260,364 crore in fiscal ending March 31, 2023, up 30 percent year on year, while delivering EBITDA of Rs 17,928 crore and net profit of Rs 9,181 crore.
Reliance Retail includes various divisions like Reliance Trends, which is a retailer of in-house garment brands like DNMX, Performax, Pureza, Rio, etc and also includes online garment retailer Ajio.
Reliance Retail currently serves over 98 percent of India’s PIN codes through integrated online and offline channels.
According to Ambani, Reliance Retail is the only Indian retailer in the global Top 100, and one of the fastest growing retailers in the world.
“The Fashion & Lifestyle business division sold a record-breaking 50 crore units of garments in the year,” Isha Ambani, daughter of Mukesh Ambani too added.
