What RIL is doing to achieve net debt free status

Reliance Industries Limited's (RIL) mega capex drive of Rs. 5.4 lakh crore between FY 2014 and 2019 altered its business mix significantly. The share of consumer facing businesses, retail and digital (JIO) to group EBITDA has increased from two per cent in FY 2015 to 35 per cent in FY 2020. However, this transformation has expanded net debt to Rs. 1.6 lakh crore as of March 2020. Acknowledging this, the CMD of Reliance Industries in the July 2019 AGM speech expressed his intention of achieving a net debt free status by March 2021. As a part of the 18-month roadmap to be net debt free, the company: - entered into an agreeme