Question: How Much Debt Does RIL Have?

Who is Asia’s richest person?

Mukesh AmbaniMukesh Ambani, Asia’s richest man who spent the early few months of the pandemic raising more than $20 billion by selling stakes in his technology venture, is now on a shopping spree..

Is Ambani Jain?

According to one news report, a good chunk of the company’s shareholders are also strict vegetarians like Ambani and belong to the Gujarati community (as Ambani does himself) or are Jains.

Is RIL debt free?

Reliance Industries’ (RIL) chairman Mukesh Ambani in a statement on Friday said the company has become debt-free after it managed to raise Rs 1,68,818 crore in just 58 days.

Why is Reliance going debt free?

related news The cumulative investment resulting from 11 deals struck by Reliance Industries for its digital unit, Jio Platforms, over the past nine weeks amounts to Rs 115,693.95 crore. Jio investments, it helped RIL become net debt-free.

Who is richest Tata or Reliance?

Due to the fact that Mukesh Ambani holds over 45% of Reliance industries, which is the second largest company in India, he is, therefore, the richest person in India, boasting a net worth of $40 billion as of 2018. Ratan Tata’s net worth is estimated to be around $1 billion.

How Mukesh Ambani makes money?

So far, Mukesh Ambani raised $8.8 billion from selling around 15% in Jio Platforms, the telecom and digital unit of his oil and gas giant, Reliance Industries.

Who is the No 1 richest person in world?

No. 1 Jeff Bezos Amazon founder Jeff Bezos is the world’s wealthiest person for the third year in a row, worth $113 billion.

What is virtually debt free?

Company has cash reserves in excess of the loans it has taken. Companies take loan for saving tax or for maintaining some working capital cash flow obligations. Such comes are called virtually debt free because they can offset their cash reserves with outstanding loan at any point of time.

Can you have negative net debt?

A negative net debt implies that the company possesses more cash and cash equivalents than its financial obligations and is hence more financially stable. … However, since it’s common for companies to have more debt than cash, investors must compare the net debt of a company with other companies in the same industry.

Is debt the same as liabilities?

When some people use the term debt, they are referring to all of the amounts that a company owes. In other words, they use the term debt to mean total liabilities. Others use the term debt to mean only the formal, written loans and bonds payable.

What is a zero net debt company?

Zero net debt refers to the status of the company where cash equals the debt on its books. … In December 2019, the company generated cash profit of ₹18,511 crore, which was higher than its capital expenditure of ₹14,015 crore.

How much money did Mukesh Ambani have?

88.8 billion USD (2020)Mukesh Ambani/Net worth

What is the difference between total debt and net debt?

What Is the Difference Between Net Debt and Gross Debt? … Net debt is the book value of a company’s gross debt less any cash and cash-like assets on the balance sheet. Gross debt, on the other hand, is simply the total of the book value of a company’s debt obligations.

Is ITC a zero debt company?

Pros: Company is virtually debt free. Stock is providing a good dividend yield of 5.52%.

Which company is debt free?

debt free companies by sanjeevS.No.NameQtr Profit Var %1.Hind. Unilever11.182.Castrol India-64.203.Colgate-Palmoliv17.194.Balmer Law. Inv.-8.0222 more rows

Which company is debt free in India?

Look at companies that are debt freeName of companyCurrent market priceCoal IndiaRs 138TV Today NetworkRs 194Avanti FeedsRs 399ICICI Prudential Life InsuranceRs 3763 more rows•Apr 28, 2020

How does Reliance make money?

In 2012–13, it earned 76% of its revenue from refining, 19% from petrochemicals, 2% from oil & gas and 3% from other segments.

Is RIL in trouble?

The rising debt level of Reliance demands critical attention as there has also been a consistent decline in revenue from oil, gas and petrochemical business. Investments in acquisitions is another cause for the huge debt pile of Rs 2.87 lakh crore at the end of 2018-19.