Reliance Industries

Reliance Industries Limited or RIL is a famous multi-national conglomerate company is headquartered in Mumbai. The company is known to engage in sectors like petrochemicals, energy, retail textiles, Reliance telecom, and natural resources. Reliance Industries is one of the most profitable companies in the country. In fact, it is one of the largest companies that is publicly traded across the nation in terms of Market capitalization.

Moreover, Reliance Industries is regarded as the largest company when analyzed in terms of the overall revenues after it recently surpassed the government-initiative IOC (Indian Oil Corporation). On 10th September 2020, Reliance Industries become the first-ever company in India to cross the mark of $200 billion in terms of market capitalization.

Reliance Industries Chairman

• Founder –Dhirubhai Ambani
• Chairman & MD –Mukesh Ambani (31st July 2002 –until now)

History

The company was given its base by Dhirubhai Ambani & Champaklal Damani during the 1960s. It was initially named as Reliance Commercial Corporation. In the year 1965, the given partnership between the two ended. Dhirubhai Ambani continued his polyester business of the company. In the year 1966, in Maharashtra, Reliance Textiles Engineers Pvt. Ltd. was founded. The company went on to set up a separate mill for synthetic fabric in Naroda, Gujarat.

On 8th May, 1973, the company was given the name of Reliance Industries Limited or RIL. During the period of 1975, the company went on to expand its business in the field of textiles. Vimal became the first-ever major brand of the company. In 1977, the company laid out its first IPO (Initial Public Offering).

During the period of 1980, the company expanded the polyester yarn business as it set up the Polyester Filament Yard Plant in Raigad, Maharashtra. In 1993, the company looked forward to overseas Capital markets for receiving funds with the help of the global repository concern of Reliance Petroleum. In the year 1996, the company became the first-ever entity in the private sector to be rated by credit rating organizations internationally.

During the period of 1995-1996, the company entered the telecomm industry. It was set up as a joint venture with NYNEX in the USA and therefore, Reliance Telecom Private Limited was formed. During the period of 1998-1999, the company introduced the concept of packaged LPG with the brand name of Reliance Gas featuring 15-kg gas cylinders. The period of 1998 and 2000 witnessed the introduction of the famous Reliance petrochemical complex at Jamnagar in Gujarat. It serves to be the largest refinery in the entire world.

Reliance Industries Companies Revenue

Reliance Industries Limited (RIL) is ranked as 96th on the esteemed list of the Fortune Global 500 of the largest corporations of the world. It is a leading exporter in the country as well because it accounts for around 8 percent of total merchandise exports of the country with an estimated value of around INR 1,47,755 Crore while having access to markets across 108 countries. Around 5 percent of the total revenue of the Government of India is known to come from customs & excise duty of the company. It also serves to be the highest taxpayer in the country in private sector. It is also known for its impressive Reliance Industries stock.

• Jio Platforms Limited: Jio is a technology-based company serving as the subsidiary of Reliance Industries as its majority owner. The concept was introduced in October 2019. The new subsidiary by Reliance Industries Limited is known to hold a series of digital business assets featuring Reliance Jio Infocomm Ltd.

• Reliance Retail: It is the retail business part of Reliance Industries. It serves to be the largest retailer across the country with leading brands –including Reliance Time Out, Reliance Mart, Reliance Wellness, Reliance Footprint, and so more.

• RIIL (Reliance Industrial Infrastructure Limited): It is an associate company to RIL. It has its 45.43 percent of shares under the control of RIL. It was launched in the year 1988. The main objective of the company was to construct as well as operate cross-country pipelines for the transportation of petroleum-based products.

• Reliance Solar: It is the subsidiary for solar energy by Reliance Industries. The company has been set up for producing and retailing solar energy mechanisms primarily to rural and remote areas. The company offers a wide Range of products on the concept of solar energy –including solar lanterns, solar street lighting systems, solar home lighting systems, and so more.

Conclusion

The entire company base of Reliance Industries Limited has its impact on billions of lives across the country –in terms of services and employment. Its historical legacy and top-notch business strategies are some of the core points of Reliance Industries and its business.