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Mukesh Ambani Asias richest business tycoon has made another bold move. He revealed that his company Reliance Industries Limited (RIL) plans to double in size by 2030. His announcement comes as a gift to RILs more than 4.4 million shareholders. Doubling the size of the company potentially means that investors could have a strong chance to have a great deal of return on their investment. What is Mukesh Ambani’s ambitious FY 2030 plan for Reliance Industries? RILs ambitious strategy comes at a crucial moment with its shares already surging 16 per cent this year post a weak performance in 2024 reported Economic Times. Now everyone is waiting for the Annual General Meeting (AGM) which is scheduled to be held on August 29 where Ambani is likely to share initiatives that could reward shareholders significantly. While the company has reported varied outcomes in the June quarter the management team believes strongly that future growth is assured. They are confident in doubling the groups EBITDA by 2029-30. The company also reiterated its plan to double earnings in the next 3-4 years for both Jio and Reliance Retail which are key components of future growth. How is Reliance planning to double its EBITDA by 2029-30? Simultaneously Indias largest retail chain Reliance Retail is also expanding rapidly. It encompasses over 19000 stores and online platforms. Major brokerages including CLSA believe Reliance shares are still fairly cheap and might touch Rs 1650 in a few months. Profit contributions from Reliance Retail and from Jio may double in three to four years which is promising news for investors. “We expect Reliances consolidated Ebitda to improve significantly in the near future led by increasing share of Jio and Retail. The stock is trading in a narrow range to its conservative valuation which builds in a depressed valuation for each of its business units CLSA’s Vikash Kumar Jain was quoted as saying by Economic Times. CLSA’s Vikash Kumar Jain added Strong growth momentum in Jio led by tariff hikes along with steady streamlining of retail operations allowing for a recovery in its growth momentum in the next few quarters will drive a significant upside for the stock.” Besides all this Reliance Group is also making rapid progress in green energy solar and battery manufacturing. In Jamnagar Gujarat the world’s largest integrated renewable energy centre—the Dhirubhai Ambani Green Energy Giga Manufacturing Complex—is being built. Story Highlights Mukesh Ambani Asias richest business tycoon has made another bold move. The Annual General Meeting (AGM) which is scheduled to be held on August 29 The company is progressing to a 10-gigawatt solar energy production capacity by 2026. Furthermore there is also a gigawatt-scale AI data centre being built in Jamnagar powered solely by green energy which will reduce the company’s energy costs by up to 25%. These important initiatives are going to be the principal factors in doubling Reliance’s earnings in the next five years.