New Delhi [India], April 30 (ANI): Anant M Ambani will assume the role of Executive Director at Reliance Industries Ltd (RIL) on May 1, following his appointment by the RIL Board of Directors on Friday for a five-year term.

This move comes as part of Ambanis' succession planning at India's largest conglomerate.

Anant Ambani, currently serving as a Non-Executive Director, will now take on executive responsibilities as part of the leadership team at RIL, as per a statement from the conglomerate.

The youngest Ambani sibling has been involved in the group's energy, sustainability, where Reliance aims to become a net-zero carbon company by 2035.

This includes scaling up production of clean fuels and materials, developing advanced carbon capture technologies, promoting circular materials, and enhancing crude-to-chemicals conversion.

He has served on the Board of Jio Platforms Limited since March 2020, Reliance Retail Ventures Limited since May 2022, and both Reliance New Energy Limit.

On April 25, the RIL reported a record annual consolidated revenues at Rs 1,071,174 crore (USD 125.3 billion), up 7.1 per cent on a yearly basis.

This record revenue was supported by continued revenue growth in consumer businesses and oil-to-chemicals (O2C), the RIL said in a statement post its Board Meeting.

Reliance Industries becomes the first Indian company to cross total equity of over Rs 10 lakh crore in 2024-25, the company said.

Reliance Industries announced a dividend of Rs 5.5 per share for the year ended March 2025.

Reliance's annual consolidated EBITDA increased by 2.9 per cent year-on-year to Rs 183,422 crore (USD 21.5 billion) with strong positive contribution from consumer businesses.

Reliance's annual consolidated Profit After Tax and Share of Profit/(Loss) of Associates and joint ventures increased by 2.9 per cent year-on-year to Rs 81,309 crore (USD 9.5 billion).

During 2024-25, Mukesh Ambani said Reliance has laid a strong foundation for its projects in renewable energy and battery operations, securing a strong position in various sectors. (ANI)