about reliance

8/2/2019 About Reliance

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India Largest Company

Presented By :Nilay and Mirang


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Early life Dhirajlal Hirachand Ambani was born on 28

December 1932 , at Chorwad, Junagadh in the state ofGujarat , India , into a Modh family of very moderate

means. He was the third son of a school teacher. Whenhe was 16 years old, he moved to Aden ,Yemen .Initially Dhirubahi worked as a despatch clerk with A.Besse & Co.. Two years later A. Besse & Co. became

distributor for Shell products and Dhirubhai waspromoted to manage the companys oil-filling stationat the port of Aden. He was married to Kokilaben andhad two sons and two daughters.


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Life in Aden In the 1950s the Yemini administration realized that their

main unit of currency Rial was in disappearing. Afterinvestigating the matter it was realized that all Rials were

routed to the Port City of Aden. There a young man intwenties was placing unlimited buy orders of Yemini Rials.During those days the Yemini Rial was a pure silver coinand was much in demand at the London Bullion Exchange.

Young Dhirubhai would buy Rial, melt it in pure silver and

sell it to bullion traders in London . In the later part of hislife while talking to reporters it is believed that he saidThe margins were small but it was money for jam. Afterthree months, it was stopped. But I made a few lakh ofrupees. I dont believe in not taking opportunities.


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Reliance Commercial Corporation Ten years later, Dhirubai returned to India and started a

business Reliance Commercial Corporation with a capitalof Rs. 15000.00 (US$ 375). The primary business of Reliance

Commercial Corporation was import polyester yarn andexport spices. The business was setup in partnership withChambaklal Damani , his second cousin who was also there

with him in Aden , Yemen . The first office of RelianceCommercial Corporation was set up at Narsinathan Street

at Masjid Bunder . It was a 350 Sq. Ft. room with atelephone, one table and three chairs. Initially they hadtwo assistants to help them in their business. In 1965Chambaklal Damani and Dhirubhai Ambani ended theirpartnership and Dhirubhai started on his own.


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It is believed that both had different tempermants and adifferent take on business, while Mr. Damani was acautious trader and did not believe in building Yarn

inventories, Dhirubhai was a known risk taker and heconsidered that buliding inventories with anticipating aprice rise and making some profit is good for growth.During this period Dhirubahi and his family used to stay inan one bedroom apatment in Jaihind Estate in Bhuleshwar.

In 1968 he moved from the chawl to an upmarketapartment at Altamount Road in South Mumbai. His firstcar was Premier Padmini , the Indian version of Fiat 1100 ,later he brought a Mercedez-Benz Car . In 1970s he broughta white Cadillac Car.


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Reliance Textiles Reliance Textiles Sensing good opportunity in the business

of textiles, Dhirubhai started his first textile mill at Naroda, near Ahmedabad in the year 1966 . Textiles were

manufactured using polyester fibre yarn. Dhirubhai startedthe brand Vimal, which was named after his elder brotherRamaniklalAmbanis son Vimal Ambani. Externsivemarketing of the brand Vimal in the interiors of Indiamade it a household name. Franchise retail outlets were

started that used to sell only Vimal brand of textiles. Inthe year 1975 a Technical team from the World Bank visitedReliance Textiles Manufacturing unit. This unit has therare distinction of being certified as excellent even bydeveloped country standards in that period.


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Initial Public Offering Dhirubhai Ambani is credited with starting the equity

cult in India. More than 58,000 investors from variousparts of India subscribed to Reliances IPO in 1977.

Dhirubhai was able to convince people of rural Gujratthat being shareholders of his company will only bringreturns to their investment. Reliance Industries holdsthe distinction that it is the only Public Limited

Company whose several Annual General Meetingswere held in stadiums . In 1986, The Annual GeneralMeeting of Relaince Industries was held in CrossMaidan, Mumbai, was attended by more than 30,000shareholders.


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Diversification Over time His business has diversified into a core specialisation

in petrochemicals with additional interests intelecommunications , information technology , energy, power , retail , textiles , infrastructure services,capital markets , and logistics . The company as a

whole was described by the BBC as a business empirewith an estimated annual turnover of $12bn, and an85,000-strong workforce.


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Criticism Despite his almost Midas Touch, Ambani has known to

have f lexible values and an unethical streak runningthrough him. His biographer himself has cited some

instances of his unethical behavior when he was just anordinary employee at a petrol pump in Dubai. He has alsobeen known to have links with the V P Singh governmentand later the BJP government. He has been accused ofhaving manipulated government policies to suit his own

need, and has been known to be a king-maker ingovernment elections. Although most media sources tendto speak out about business-politics nexus, the Ambanihouse has always enjoyed more protection and shelter fromthe media storms that sweep across the country.


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Death Dhirubhai Ambani was admitted to the Breach Candy Hospital

in Mumbai on June 24 , 2002 due to a major brain strokesuffered by him. This was the second stroke, the first one hadoccurred in the year February 1986 and had kept his right hand

paralyzed. He was in a state of coma for more than week. Abattery of highly efficient doctors were unable to save his life. Hebreathed his last on July 6 , 2002 , at around 11:50 P.M.(IndianStandard Time). His funeral procession was not only attended bybusiness people, politicians and celebrities but also by thousandsof ordinary people. His elder son Mukesh Ambani performed the

last rites as per the Hindu traditions. He was cremated at theChandanwadi Crematorium in Mumbai at around 4:30 PM(Indian Standard Time) on July 7 , 2002 . He is survived byKokilaben Ambani, his wife, two sons, Mukesh Ambani and Anil

Ambani , and two daughters, Nina Kothari and Deepti Salgaocar.


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FilmA film inspired by the life of Dhirubhai is set to release

in January 2007. The Hindi Film Guru , directed byMani Ratnam and music by A.R.Rahman will show thestruggle of a man who strives to make his mark in life.The movie stars Abhishek Bachchan and AishwaryaRai in leading roles.


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Awards and Recognitions November 2000 Conferred Man of the Century award by

Chemtech Foundation and Chemical Engineering World inrecognition of his outstanding contribution to the growthand development of the chemical industry in India 2000 ,1998 and 1996 Featured among Power 50 the mostpowerful people in Asia by Asiaweek magazine. June 1998 Deans Medal by The Wharton School, University ofPennsylvania , for setting an outstanding example ofleadership. August 2001 The Economic Times Award for

Corporate Excellence for Lifetime Achievement DhirubhaiAmbani was named the Man of 20th Century by theFederation of Indian Chambers of Commerce and Industry(FICCI). A poll conducted by The Times of India in 2000

voted him Greatest Creator of Wealth In The Century.


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Famous Quotes From beginning Dhirubhai was seen in high-regard.

His success in the petro-chemical business and hisstory of rags to riches made him a cult figure in the

minds of Indian people. As a quality of business leaderhe was also a motivator. He gave very less of publicspeeches but the words he has spoken are stillremembered for their value. Growth has no limit atReliance. I keep revising my vision. Only when youdream it you can do it. Think big, think fast, thinkahead. Ideas are no ones monopoly Our dreams haveto be bigger. Our ambitions higher.


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Our commitment deeper. And our efforts greater. Thisis my dream for Reliance and for India. You do notrequire an invitation to make profits. If you work

with determination and with perfection, success willfollow. Pursue your goals even in the face ofdifficulties, and convert adversities into opportunities.Give the youth a proper environment. Motivate them.Extend them the support they need. Each one of themhas infinite source of energy. They will deliver.Between my past, the present and the future, there isone common factor: Relationship and Trust.


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This is the foundation of our growth We bet onpeople. Meeting the deadlines is not good enough,beating the deadlines is my expectation. Dont giveup, courage is my conviction.

Think big, think fast, think ahead , ideas are no onesmonopoly

Our dream have to be bigger. Our ambitions higher.Our commitments depper. And our efforts greater.This is my dream for Reliance an for India.


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Growth through Vision

Growth has no limit at Reliance. I keep revising myvision.Only when you can dream it, you can do it.

Between my past, the present and the future, there isone common factor: Relationship and Trust. This isthe foundation of our growth.

- Dhirubhai H. Ambani


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