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Nearly Rs 30,000 crore has been invested by Reliance Retail to the tune in FY2022, and new 2,500 stores were added with 11.1 million square feet of warehouse space during the year, as per the company’s report.
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“During the year, Reliance Retail further strengthened its sourcing ecosystem, working closely with producers, MSMEs, service providers, local and international brand companies,” the company said in its annual report.
As per the annual report, Mukesh Ambani has said, “Braving the intermittent COVID restrictions, the Retail business continued to expand offline and online, “The business posted all-time high revenues and EBITDA with steady improvement in profit margins. Growth was seen across all product categories, from consumer electronics to grocery to apparel & footwear. Some segments are jewellery, pharma and furniture & home décor, and new businesses like Freshpik and Milkbasket witnessed rapid growth.”
Reliance retail has to build its brand portfolio to offer superior value to its customers and differentiate its products. Now the digital commerce company contributed nearly 17 per cent of revenues compared to 10 per cent in the preceding year. Its revenue from operations stood at Rs 1,75,015 crore in FY22 compared to Rs 1,39,136 crore in FY21. Its Earning Before Interest, Depreciation, Tax and Amortisation (EBITA) margins stagnated at 7.1 per cent in FY22.
“Despite challenges posed by the pandemic, Reliance Retail further consolidated its leadership position and continued to be India’s largest, most profitable and fastest-growing retailer,” the company said in its report. It added, “All-time high revenues were recorded in fashion & lifestyle and grocery consumption baskets with strong growth momentum in consumer electronics. Overall a well-rounded growth driven by highest ever store sales and sustained growth momentum in digital and new commerce channels.”
