Reliance Industries
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| Type | Public (NSE: RELIANCE) |
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| Founded | 1966 As Reliance Commercial Corporation |
| Headquarters | Navi Mumbai, India |
| Key people | Mukesh Ambani (Chairman) & (MD) |
| Industry | Oil Conglomerates |
| Products | Petroleum and Petroleum Products Retail stores Polymers Polyesters Chemicals Textile |
| Revenue | Rs.150,771 Crore / US$34.03 billion (2009) |
| Operating income | Rs.23,395 Crore / US$ 4.6 billion (2009) |
| Net income | Rs.15,607 Crore / US$ 3.1 billion (2009) |
| Total assets | US$43.61 billion (2009) |
| Total equity | US$21.31 billion (2009) |
| Employees | ~ 48,0000 (2008) |
| Website | RIL.com |
Reliance Industries Limited (NSE: RELIANCE) is India's largest private sector conglomerate (by market value) and second largest in the world, with an annual turnover of US$ 35.9 billion and profit of US$ 4.85 billion for the fiscal year ending in March 2008 making it one of India's private sector Fortune Global 500 companies, being ranked at 206th position (2008).[1] It was founded by the Indian industrialist Dhirubhai Ambani in 1966. Ambani has been a pioneer in introducing financial instruments like fully convertible debentures to the Indian stock markets. Ambani was one of the first entrepreneurs to draw retail investors to the stock markets. Critics allege that the rise of Reliance Industries to the top slot in terms of market capitalization is largely due to Dhirubhai's ability to manipulate the levers of a controlled economy to his advantage. Though the company's oil-related operations form the core of its business, it has diversified its operations in recent years. After severe differences between the founder's two sons, Mukesh Ambani and Anil Ambani, the group was divided between them in 2006. In September 2008, Reliance Industries was the only Indian firm featured in the Forbes's list of "world's 100 most respected companies".[2]
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[edit] Stock
- According to the company website "1 out of every 4 investors in India is a Reliance shareholder." See:[2]. Reliance has more than 3 million shareholders, making it one of the world's most widely held stock. Reliance Industries Ltd, subsequent to its split in January 2006 has continued to grow. Reliance companies have been among the best performing in the Indian stock market.
[edit] Products
Reliance Industries Limited has a wide range of products from petroleum products, petrochemicals, to garments (under the brand name of Vimal), Reliance Retail has entered into the fresh foods market as Reliance Fresh and launched a new chain called Delight Reliance Retail and NOVA Chemicals have signed a letter of intent to make energy-efficient structures.
| Year | Gross Income (in $m) | Employees |
|---|---|---|
| 1965 | ||
| 1970 | ||
| 1975 | ||
| 1980 | ||
| 1985 | 488 | |
| 1990 | 1,049 | |
| 1995 | 2,228 | |
| 2000 | 5,566 | |
| 2005 | 18,773 |
The primary business of the company is petroleum refining and petrochemicals. It operates a 33 million tonne refinery at Jamnagar in the Indian state of Gujarat. Reliance has also completed a second refinery of 29 million tons at the same site which started operations in December 2008. The company is also involved in oil & gas exploration and production. In 2002, it struck a major find on India's eastern coast in the Krishna Godavari basin. Production from this find is expected to start by the third quarter of 2008.
[edit] Subsidiaries
Major Subsidiaries & Associates [3]
- Reliance Petroleum - Reliance Petroleum Limited (RPL) is a subsidiary of Reliance Industries Limited (RIL) and was created to exploit the emerging opportunities, creating value in the refining sector worldwide.
- Reliance Life Sciences- Reliance Life Sciences is a diversified and integrated biotechnology initiative of the Reliance group companies, India's largest private sector companies.
- Reliance Industrial Infrastructure Limited - Reliance Industrial Infrastructure Limited (RIIL), a Reliance Group company, is principally engaged in the formation and operation of industrial infrastructure, involving the leasing and supply with the software of the computer and data processing.
- Reliance Institute of Life Sciences - Reliance Life Sciences Institute (Rils), established by Dhirubhai Ambani Foundation, is an institution of higher education in various fields of life sciences and related technologies.
- Reliance Solar Limited - Initiative for Solar Energy and Reliance Group aims to bring solar energy systems and solutions primarily to remote and rural areas and bring about a transformation in the quality of life.
- Reliance Logistics - Reliance Logistics (P) Ltd., a Reliance group company, is a single window solution provider for all your transportation, distribution, storage, logistics and supply chain needs.
- Reliance Clinical Research Services - Reliance Clinical Research Services (RCRS), a Reliance group company, is a contract research organization (CRO) and its wholly owned subsidiary of Reliance Life Sciences, which aims to provide world-class services for clinical research, pharmaceuticals, biotechnology companies and medical equipment.
- Relicord - Relicord, a Reliance Life Sciences (RLS) initiative, offering services of cord blood banking is supported by Reliance Group, India's largest business house.
[edit] Reliance's Oil & Gas find
In 2002, Reliance found natural gas in the Krishna Godavari basin off the coast of Andhra Pradesh near Vishakapatnam.[4] It was the largest discovery of natural gas in world in financial year 2002-2003[5]. On 1 April 2009, Reliance Industries (RIL) commenced natural gas production from its D-6 block in the Krishna-Godavari (KG) basin.[6]
The gas reserve is 7 trillion cubic feet in size. Equivalent to 1.2 billion barrels (165 million tonnes) of crude oil, but only 5 trillion cubic feet are extractable.[7]
On 2008 Oct 8, Anil Ambani's Reliance Natural Resources took Reliance Industries to the Bombay High Court to uphold a memorandum of understanding that said RIL will supply the natural gas at $2.34 per million British thermal units to Anil Ambani.[8]
[edit] Reliance Retail
Reliance Retail is the retail business wing of the Reliance business. Many brands like Reliance Fresh, Reliance Footprint, Reliance Time Out, Reliance Digital, Reliance Wellness, Reliance Trendz, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens, and Reliance Jewel come under the Reliance Retail brand.
[edit] Environmental record
In 2005 Reliance Industries was found to be one of the top five consumers of toluene in the world. These five companies account for 30% of the total consumption. Toluene use produces a toxic chemical that is released into the air when it is burned. Under the 1990 Clean Air Act Amendments, the U.S. EPA is required to regulate emissions of listed toxic air pollutants. Cleaner replacements for toluene may be used.[9]
Reliance Industry is the worlds largest polyester producer and as a result one of the largest producers of polyester waste in the world. In order to deal with this large amount of waste they had to create a way to recycle the waste. They operate the largest polyester recycling center that uses the polyester waste as a filling and stuffing. They use this process to develop a strong recycling process which won them a reward in the Team Excellence competition.[10]
Reliance Industries backed a conference on environmental awareness in New Delhi in 2006. The conference was run by the Asia Pacific Jurist Association in partnership with the Ministry of Environment & Forests, Govt. of India and the Maharashtra Pollution Control Board. The conference was to help bring about new ideas and articles on various aspects of environmental protection in the region. Maharashtra Pollution Control Board invited various industries complied with the pollution control norms to take active part in the conference and to support as a sponsor. The conference proved effective as a way to promote environmental concern in the area.[11]
[edit] Awards & Recognition
- International Refiner of the Year in 2005 at the 23rd Annual Hart's World Refining and Fuels Conference [3]
[edit] Awards for managers
- Mukesh D. Ambani received the United States of America-India Business Council (USIBC) leadership award for "Global Vision" 2007 in Washington in July 2007.
- Mukesh D. Ambani was conferred the Asia Society Leadership Award by the Asia Society, Washington, USA, May 2004.
- Mukesh D. Ambani ranked 13th in Asia's Power 25 list of The Most Powerful People in Business published by Fortune magazine, August 2004.
- Mukesh D. Ambani is Economic Times Business Leader of the Year
[edit] See also
[edit] External links
- Official site
- Reliance's About us page
- Website For Reliance Retail Learning
- Reliance retail gets ‘A’ team in place
- Speech by Mr. Mukesh Ambani on Deshgujarat.com
- Mukesh Ambani Chairman of Reliance Industries.
- An article on Reliance Industries new headquarters
- Reliance IPOs vs. Reliance ADAG IPOs: How They Differ in Wealth Creation
- Reliance Industries Announces 1:1 Bonus Issue
[edit] References
- ^ [1]
- ^ http://timesofindia.indiatimes.com/RIL_among_worlds_100_most_respected_companies/articleshow/3453197.cms
- ^ Major Subsidiaries & Associates :: Reliance Industries Limited
- ^ rediff.com 2002 10 31 article on Reliance gas find
- ^ REL.co.in press release on gas find
- ^ Energy boost for India as Krishna-Godavari gas flows
- ^ rediff 2002 10 31 rel article on gas find
- ^ Telegraph India 2008 10 07 article on court case
- ^ "Toluene"
- ^ Reliance Industries award
- ^ "Conference on "Environment-Awareness-Enforcement" New Delhi."
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