growth has no limit at reliance

8/8/2019 Growth Has No Limit at Reliance

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"Growth has no limit at Reliance. I keep revising my vision. Only when you can

dream it,you can do it."

Dhirubhai H. AmbaniFounder Chairman Reliance GroupDecember 28, 1932 - July 6, 2002

Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a globalleader in the materials and energy value chain businesses.

He is credited to have brought about the equity cult in India in the late seventies and isregarded as an icon for enterprise in India. He epitomized the spirit

'dare to dream and learn to excel'.

What is Reliance? The Reliance Group is Indias largest business house with total

revenues being more than $22.6 billion. This is equal to 3.5% of Indias GDP. Reliance

contributes to 10% of Indias total indirect tax and 6% of her total exports. Reliance network

of exports spread out to more than one hundred countries across the globe.

What are the activities of Reliance? It is involved in oil exploration and production, gas

refining and marketing, petrochemicals, textiles, financial services, insurance, power,

telecommunications and infocom initiatives.

The names of Reliance and Dhirubhai Ambani go hand in hand. He was born on 28th

December 1932, in Chorwad, Gujarat. He belonged to the Hindu Modh Bania community.

Dhirubhai built Indias largest private sector empire, Reliance, and created an equity cult. His

father was a schoolteacher. Dhirubhai started off by selling fried snacks to pilgrims in Mount

Girnar during weekends. After school he became a dispatch clerk at A.Besse & Company.

The latter became distributors of Shell and Dhirubhai was sent to manage an oil filling station

at Aden. For sometime he also worked in Dubai. In 1958 he returned to India with INR

50,000/- in his pocket. With this he set up a textile trading company.

This was the first chapter of the story of Reliance. Aptly helped by his wife and two sons

Dhirubhai diversified his interests to petrochemicals, telecommunications and information,

technology, energy, power, finance, capital markets and logistics. Reliance gave new


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dimensions to Indias equity culture. Till then the market had been dominated by financial

institutions but with Reliance coming into the picture thousands of retail investors jumped

into the fray by putting their trust in the name of Reliance. With innovative instruments like

convertible debentures from the 1980s Reliance became a hot favorite in the Stock Market.

Reliance was the pioneer Indian company to raise funds in the international markets. Only

Indias sovereign rating restricted its high credit taking in international markets.The Federation of Indian Chambers of Commerce and Industry named Dhirubhai Ambani of

Reliance.

The Indian Entrepreneur of the 20th century. The Times of India conducted a poll in

which he was acclaimed to be the greatest creator of wealth in the 20th century.

Thus we see that Reliance Industries Ltd was the brainchild and product of the labors of

Indian business tycoon, Dhirubhai Ambani alias Dhirajlal Hirachand Ambani.

The story of Reliance makes fascinating reading. During the 1950s the administrators of

Yemen discovered that a lot of their currency, the Rial, was disappearing through Aden

because of a young man placing unlimited buy orders for Rials. The Rials, at that time, were

made of pure silver and was greatly in demand in the London Bullion Exchange. Dhirubhai

bought and melted the Rials and sold it to the London bullion traders. Within three months

his work came to a halt but by that time he had made few lacs.

In the 60s Dhirubhai returned to India and started Reliance Commercial Corporation with a

humble capital. The business was related to the import of polyester yarn and export of spices.

The first address of Reliance was in Narsinathan Street in Masjid Bunder a small 350 sq ft

joint with a telephone, table and three chairs and only two assistants. The family too managed

in a one room flat.

The fortunes of Reliance soon began to change. In 1966 the first textile mill was set

up at Naroda using polyester fibre. He branded his products Vimal and thanks to

intensivemarketing , Vimal became a household name. Financial retail outlets were set up

where only Vimal brands were sold. In 1975 a visiting World Bank team certified it to be

excellent even by the standards of the developed world.

The next step of Reliance was to enter the equity world. An equity cult came to be

created. Nearly 60,000 investors from all parts of India placed their trust in Reliance IPO in

1977. Rural India and first time investors learnt to place its trust and money in the name of

Reliance.

In 1982 Reliance Industries came up against a rights issue about partly convertible

debentures. It was rumored that Reliance was making all efforts to see that their stock prices


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vendetta. But despite everything people did not lose faith in Reliance. Reliance ran into rough

weather also with the V.P.Singh government. The license for importing Purified Terephthalic

Acid was cancelled. This was essential as a raw material for manufacturing polyester yarn.

The first stroke had paralyzed Dhirubhai but the second stroke spelt out the death

sentence for him. He died in 2nd July 2002 leaving behind at the helm of Reliance his two

sons Mukesh and Anil, wife and two daughters. His funeral was attended not only by big

business and politicians but also by thousands of ordinary folks. He is an example of what a

common person can do to help himself as well as the economy of his country.

At the time of his death the Reliance group had a gross turn over of INR 75,000 crores

from 70 crores in 1976/77. In 20003 Government of India issued a postal stamp

(denomination 5/- INR) in Dhirubhais honour.

Reliance began to flow through two channels after the death of Dhirubhai.

Differences broke out between his two sons over ownership issues as well as private matters.

It was expressed that this would have no impact on the functioning of the company it being a

company managed aggressively by professionals. This is of great importance to the Indian

economy as a whole. The wife of Dhirubhai, Kokilaben mediated for her sons.

Mukesh was awarded Reliance Industries and IPCL and this group came to be known,

as Reliance Industries Ltd. Anil became head of Infocomm, Reliance Energy and Reliance

Capital known as the Anil Dhirubhai Ambani Group (ADAG)


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"Between my past, the present and the future, there is one common factor: Relationship

and Trust. This is the foundation of our growth."

Shri Dhirubhai H. Ambani

Founder Chairman Reliance GroupDecember 28, 1932 - July 6, 2002

Board of Directors of Reliance Industries Limited

Shri Mukesh D. AmbaniChairman & Managing Director

Shri Nikhil R. MeswaniExecutive Director

Shri Hital R. MeswaniExecutive Director

Shri H.S.KohliExecutive Director

Shri PMS PrasadExecutive Director

Shri Ramniklal H. Ambani Shri Mansingh L. Bhakta


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Shri Yogendra P. Trivedi Dr. D. V. Kapur Shri M. P. Modi

Prof. Ashok Misra Prof. Dipak C Jain Dr. RaghunathAnant Mashelkar


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Board Composition

The Company's policy is to maintain optimum combination of Executive and Non-

Executive Directors. The Board consists of 13 Directors, out of which 7 are Independent

Directors. Composition of the Board and category of Directors are as follows:

Category Name of the Directors

Promoter Director Mukesh D. AmbaniChairman & Managing Director

Executive Directors

Nikhil R. Meswani

Hital R. Meswani

Hardev Singh Kohli

PMS Prasad

Non-Executive,

Ramniklal H. AmbaniNon-Independent Director

Independent Directors

Mansingh L. Bhakta

Yogendra P. Trivedi

Dr. D. V. Kapur

M. P. Modi

Prof. Ashok Misra

Prof. Dipak C Jain

Dr. Raghunath A Mashelkar

Board Committees

The Board has established the following Committees to assist the Board in discharging its

responsibilities:

Audit Committee

Remuneration Committee

Shareholders'/Investors' Grievance Committee


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Finance Committee

Health, Safety and Environment Committee

Corporate Governance and Stakeholders' Interface Committee

Employees Stock Compensation Committee

The Board has adopted charters setting forth the roles and responsibilities of each of the

above Committees as well as qualifications for Committee membership, procedures for

Committee members' appointment and removal, Committee structure and operations and

reporting to the Board. The Board may constitute new Committees or dissolve any existing

Committee, as it deems necessary for the discharge of its responsibilities.

Growth through Governance

Reliance is in the forefront of implementation of Corporate Governance best practices

Corporate Governance at Reliance is based on the following main principles:

Constitution of a Board of Directors of appropriate composition, size, varied expertiseand commitment to discharge its responsibilities and duties.

Ensuring timely flow of information to the Board and its Committees to enable themto discharge their functions effectively.

Independent verification and safeguarding integrity of the Companys financialreporting.

A sound system of risk management and internal control.

Timely and balanced disclosure of all material information concerning the Companyto all stakeholders.

Transparency and accountability.

Compliance with all the applicable rules and regulations.

Fair and equitable treatment of all its stakeholders including employees, customers,

shareholders and investors.

Manufacturing Facilities

Reliance Industries Limited operates world-class manufacturing facilities across the

country at Allahabad, Barabanki, Dahej, Hazira, Hoshiarpur, Jamnagar, Nagothane,

Nagpur, Naroda, Patalganga, Silvassa and Vadodara.

Allahabad Manufacturing Division located in Allahabad, Uttar Pradesh, is spread over

105 acres. It is equipped with polymerization and continuous polymerization

facilities.


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Barabanki Manufacturing Division located near Lucknow, Uttar Pradesh, is spread

over 106 acres. It manufactures Black Fibre.

Dahej Manufacturing Division located near Bharuch, Gujarat, is spread over 1,778

acres. It comprises of an ethane / propane recovery unit, a gas cracker, a caustic

chlorine plant and 4 downstream plants, which manufacture polymers and fibre

intermediates. Hoshiarpur Manufacturing Division located in Hoshiarpur, Punjab, is spread over 69

acres. It manufactures a wide range of PSF, PFF, POY and polyester chips.

Hazira Manufacturing Division located near Surat, Gujarat, is spread over 700 acres.

It comprises of a Naptha cracker feeding downstream fibre intermediates, plastics and

polyester plants.

Jamnagar Manufacturing Division located in Jamnagar, Gujarat, is spread over 7,400

acres. It comprises of a petroleum refinery and associated petrochemical plants. Therefinery is equipped to refine various types of crude oil (sour crude, sweet crude or a

mixture of both) and manufactures various grades of fuel from motor gasoline to

Aviation Turbine Fuel (ATF). The petrochemicals plants produces plastics and fibre

intermediates.

Nagothane Manufacturing Division located in Raigad, Maharashtra, is spread over

1,860 acres. It comprises of an ethane and propane gas cracker and five downstream

plants for the manufacture of polymers, fibre intermediates and chemicals.

Nagpur Manufacturing Division located in Nagpur, Maharashtra, is spread over 368

acres. It manufactures polyester filament yarn, dope-dyed specialty products of

different ranges, fully drawn yarn and polyester chips.

Naroda Manufacturing Division located near Ahmedabad, Gujarat, is RILs first

manufacturing facility and is spread over 150 acres. This synthetic textiles and fabrics

manufacturing facility manufactures and markets woven and knitted fabrics for home

textiles, synthetic and worsted suiting and shirting, ready to wear garments and

automotive fabrics.

Patalganga Manufacturing Division located near Mumbai, Maharashtra, is spread over

200 acres. It comprises of polyester, fibre intermediates and linear alklyl benzene

manufacturing plants.

Silvassa Manufacturing Division located in the Union Territory of Dadra and Nagar

Haveli, is spread over 127 acres. It manufactures a wide range of specialty products

such as Recron Stretch, Linen Like, Melange, Thick-n-thin and Bi-shrinkage yarns.


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Vadodara Manufacturing Division located in Vadodara, Gujarat, is spread over 1,263

acres. It comprises of a Naptha cracker and 15 downstream plants for the manufacture

of polymers, fibres, fibre intermediates and chemicals.

Each of these complexes has world class manufacturing facilities.

Products & Brands

The Company expanded into textiles in 1975. Since its initial public offering in 1977, the

Company has expanded rapidly and integrated backwards into other industry sectors, most

notably the production of petrochemicals and the refining of crude oil.

The Company now has operations that span from the exploration and production of oil and

gas to the manufacture of petroleum products, polyester products, polyester intermediates,

plastics, polymer intermediates, chemicals and synthetic textiles and fabrics.

The Company from time to time seeks to further diversify into other industries. The

Company's subsidiary Reliance Jamnagar Infrastructure Limited is currently establishing

infrastructure facilities such as roads and buildings for the proposed Special Economic Zone

(SEZ) at Jamnagar, Gujarat.

The Company's major products and brands, from oil and gas to textiles are tightly integrated

and benefit from synergies across the Company. Central to the Company's operations is its

vertical backward integration strategy; raw materials such as PTA, MEG, ethylene, propylene

and normal paraffin that were previously imported at a higher cost and subject to import

duties are now sourced from within the Company. This has had a positive effect on the

Company's operating margins and interest costs and decreased the Company's exposure to the

cyclicality of markets and raw material prices. The Company believes that this strategy is

also important in maintaining a domestic market leadership position in its major product lines

and in providing a competitive advantage.

The Company's operations can be classified into four segments namely:

Petroleum Refining and Marketing business

Petrochemicals business

Oil and Gas Exploration & Production business

Others

The Company has the largest refining capacity at any single location.


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The Company is:

Largest producer of Polyester Fibre and Yarn

4th largest producer of Polypropylene (PP) and Paraxylene (PX)

6th Largest producer of Purified Terephthalic Acid (PTA)

7th largest producer of Mono Ethylene Glycol (MEG)

Growth through Recognition

Reliance has merited a series of awards and recognitions for excellence for businesses and

operations.

2008-2009

Shri Mukesh Ambani was awarded the Defence India Excellence Award 2007. The

Award is a salute to those who have made the country proud.

Shri Mukesh Ambani was conferred the Indian of the Year Award by NDTV. This is

Indias most prestigious award for outstanding contribution towards the betterment of

the nation. Shri Mukesh Ambani received the coveted award in the Business

Category.

Shri Mukesh Ambani was conferred the Outstanding Business Leader of the Year

Award by CNBC TV18.

Shri Mukesh Ambani was awarded the Business Leadership Award 2007 by NDTV

Profit.

Shri Mukesh Ambani was conferred the Leadership Award for Global Vision by the

United States India Business Council.

Shri Mukesh Ambani was elected to be a member of the Honorary Fellows of The

Institution of Chemical Engineers, UK.

On invitation to Shri Mukesh Ambani, Reliance Industries Limited became a Council

Member of World Business Council for Sustainable Development (WBCSD) in July

2007. Presently, Shri Mukesh Ambani is the only Indian CEO who is Council

Member of WBCSD.

Leadership


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Shri Mukesh Ambani received the American India Foundation's (AIF), USA, 'The

2008 Annual Spring Gala Award' in 2008.

Shri Mukesh Ambani was elected as Vice Chairman of the World Business Council

for Sustainable Development's (WBCSD) Executive Committee in 2008.

Shri PMS Prasad has been named as the 'Energy Executive of the year 2008' by the

London based magazine, Petroleum Economist in 2009.

Dr. R. A. Mashelkar received 'Foreign Fellow' from Australian Academy of

Technological Sciences and Engineering (ATSE) in 2008.

Dr. R. A. Mashelkar represented India in the 'I-20 Global Innovation Leadership

Summit' held at San Francisco, USA, 2009.

In recognition of his major contributions / achievements for the year, South Gujarat

Chamber of Commerce and Industry conferred 'CEO 2007-08, Golden Jubilee Trust

Award ' on Shri Hardev Singh Kohli in 2008

Corporate Ranking & Ratings:

RIL continues to be featured, for the fifth consecutive year, in the Fortune Global 500

list of 'World's largest corporations'; ranking for 2009 is as follows:

Ranked 264th in terms of sales Ranked 117th in terms of profits

RIL is ranked 75th in 2009, in the FT Global 500 (up from previous year's 80th rank).

RIL won the Golden Peacock Global Award for Excellence in Corporate Governance

for the year 2008.

RIL is rated as 15th most innovative company in the world, climbing 4 positions, in a

survey conducted by Business Week and Boston Consulting Group. This survey ofaround 3000 global CEOs is done to rate the world's top 50 most innovative

companies.

Jamnagar Manufacturing Division bagged the 'Refinery of the Year Award for 2008',

for second successive year from 'Petroleum Federation of India'.

Health, Safety and Environment

Dahej Manufacturing Division received the 'Greentech Safety Award 2009 - Gold'

from the Greentech Foundation for excellence in safety practices.


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Hoshiarpur Manufacturing Division received BSC 5-Star Rating in Health & Safety

certification by BSC, UK, with a score of 94.2 percent. Further, the manufacturing

division got BSC 5Star Rating in environment certification by BSC, UK with a score

of 97.4 percent.

Hoshiarpur Manufacturing Division bagged Punjab Safety Award for two consecutive

2007-08 & 2008-09.

Hoshiarpur Manufacturing Division won 'Hong Kong Green Level Certificate' for its

PET recycling initiatives; the division recycled PET bottles of 30 tons per day.

Jamnagar Manufacturing Division received 'Platinum Award' for excellence in

environment management in refinery and chemical sector, respectively, from

GreenTech Foundation, India.

Jamnagar Manufacturing Division received 'G-Cube Award for Good Green

Governance' from Shrishti.

Silvassa Manufacturing Division achieved 5-Star Rating in Safety & Health with a

rating score of 95.1% by British Safety Council (BSC), UK, and was also awarded the

'Sword of Honour - 2008' by BSC, UK.

Silvassa Manufacturing Division achieved 5-Star rating in environment with 98.76%

by BSC, UK- highest percentage points in the world awarded by BSC so far in 95

countries. Further, Silvassa Manufacturing Division recognised for Golden Globe

Award in Environment by BSC, UK.

Training and Development

Hazira Manufacturing Division's 'Truckers Safety Programme' and 'Workers Safety

Programme' received 'Excellence in Practice Award' from American Society for

Training & Development (ASTD) in the training management category.

Patalganga Manufacturing Division was selected to receive an 'Excellence in Practice

Award' from ASTD

for the case study 'Learning Function - A catalyst to Organisational Change for Global

Leadership'.


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Quality

Allahabad Manufacturing Division's two quality circle projects were adjudged 'par

excellent' in the annual quality control exhibitions organised by National Centre for

Quality Control (NCQC) 2008.

Dahej Manufacturing Division won the 'Ramkrishna Bajaj National Quality

Performance Excellence Trophy 2008'.

Dahej Manufacturing Division's two quality circles: PVC and HDPE won the

'Excellence Award' at the 22nd National Convention.

Hazira Manufacturing Division was bestowed 'International Star of Quality Award -

2008' (Platinum Category) at Geneva for institutionalising the TQM QC100 Quality

Principles.

Hazira Manufacturing Division's Quality Control Circle won the International

Exposition on Team Excellence (IETEX) Gold Award 2008 at Singapore.

Hazira Manufacturing Division won the second prize at International Quality &

Productivity Centre QPC Asia-Pacific Summit-2008 (Singapore) by 'Cobalt recovery

improvement in Catalyst Recovery Unit's Six Sigma project.

Hazira Manufacturing Division excelled at the regional and national convention on

quality circles held at Vadodara with all its 9 participating teams getting various

recognitions for their QCC / Gemba Kaizen Activities.

Hazira Manufacturing Division was conferred, at France, the highest recognition of 5

Star rating for a non-European organisation by the European Foundation for Quality

Management (EFQM) (Brussels), the Mecca for Business Excellence in Europe under

the aegis of Global Excellence Model (GEM) Council.

Patalganga Manufacturing Division has won international award in the category 'Best

Process Improvement in Service & Transaction Project' through DMAIC of Six

Sigma. This summit was organised by International Quality & Productivity Centre,

London in 2008.

Energy Conservation / Efficiency

Dahej Manufacturing Division bagged the 'Excellence in Energy Award 2008' for

energy conservation initiatives from Confederation of Indian Industry (CII).


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Dahej Manufacturing Division bagged the 'Most Efficient Unit Award 2008' for

efficiency in water management at the site from CII.

Hazira Manufacturing Division won the 'Golden Peacock Award for Combating

Climate Change - 2008' from Indian Chemical Council Award for excellence in

energy conservation and management.

Hazira Manufacturing Division won the 'Indian Chemical Council Award' for water

resource management in chemical industry.

Hazira Manufacturing Division won the 'CII National Award in Energy Management

2008'.

Jamnagar Manufacturing Division received the National Award for 'Excellence in

Energy Management' for the fifth time from CII.

Technology, Patents, R&D and Innovation

Hazira Manufacturing Division won the 'Indian Chemical Council Acharya PC Ray

Award 2008' for development of in-house technology of high performance catalyst for

external donor.

Hazira Manufacturing Division won the 'Indian Chemical Council Merit Award 2008'

for Development of Indigenous Technology for Para Di Ethyl Benzene.

Hazira Manufacturing Division won the 'Golden Peacock Innovation Award -2008'

from Institute of Directors at London for catalyst innovation.

Information Technology

'Bronze Winner - Excellence in Information Integrity (EII) Award', for profit

category, from Information Integrity Coalition (IIC), USA, in 2008.

'The NASSCOM - CNBC TV 18 IT User Award', in the manufacturing sectorcategory, in 2008.

'Indian Most Admired Knowledge Enterprise (MAKE) Award', KNOW Network,

USA, in 2008.

'Global CIO 50 - IT Leaders Changing the Business World' by Information Week,

USA, in 2009

Corporate Social Responsibility

According to the Nielsen India Corporate Image Monitor 2008, a study designed to


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measure people's perceptions of the image and reputation of India's leading

companies, RIL is one of the most admired companies by stakeholders for its CSR

initiatives.

Sustainability Report

Amongst 'India's 10 largest companies by market capitalisation', International Finance

Corporation (IFC) has rated RIL's Sustainability Report's reporting quality as "good" -

the highest rating given for this report, in 2009

Major Milestones

2009

RPL merger with RIL: Value creation through scale and synergies - The merger of

Reliance Petroleum Limited (RPL) with Reliance Industries Limited (RIL) has

enabled seamless integration of operational scale and financial synergies that existed

between the two Companies. Assets and liabilities of RPL have been transferred to

RIL with effect from 1st April 2008, as per the approval granted by the Hon. High

Courts of Mumbai and Gujarat. Shareholders of RPL received 1 share of RIL in lieu

of every 16 shares of RPL held by them, as per the scheme of merger. Accordingly,

6.92 crore new equity shares of RIL have been allotted to the shareholders of RPL.

RIL joins the league of global deepwater oil and gas operators - RIL commenced

production of hydrocarbons in its KGD6 block in the Krishna Godavari basin with the

production of sweet crude of 420 API. The production of oil in KG-D6 was

commissioned in just over two years of its discovery, making it the worlds fastest

green-field deepwater oil development project.

2008

During the year, Reliance signed an agreement to acquire certain polyester (capacity)

assets of Hualon, Malaysia.

In the Refining & Marketing business, Reliance took over majority control of Gulf

Africa Petroleum Corporation (GAPCO) and started shipping products to the East

African markets.

Reliance also signed MoU with GAIL (India) Limited to explore opportunities of


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setting up petrochemical plants in feedstock rich countries outside India.

Reliance Petroleum Limited (RPL) continued the second year of implementation of its

refinery project with an overall project progress of 90%.

During the year, Reliance Retail Limited (RRL) continued its rollout of stores across

various verticals and formats. Reliance Retail today operates over 590 stores in 57

cities, spanning 13 states, with over 3.5 million square feet of trading space.

2007

Value creation through integration - A landmark merger of Indian Petrochemicals

Corporation Limited (IPCL) with Reliance Industries Ltd. (RIL) has been completed.

Reliance Retail entered the organised retail market in India with the launch of its

convenience store format under the brand name of Reliance Fresh.

The worlds largest polyester expansion project commissioned during the year. We

brought a Polyester capacity of 550 KTA on stream at globally competitive costs in a

record time of eighteen months. With this expansion, our polyester capacity has been

augmented to 2 million tonnes per year. Subsequently, Reliance now have 4% of

global polyester capacity and 6% of global production.

During the year, we expanded our polypropylene (PP) capacity by 280 KTA atJamnagar that increased the combined capacity to 1,710 KTA. With this expansion,

we now have 3.5% of global PP capacity and 3.6% of global PP production.

Financial Milestones

2009

Total Assets crossed Rs. 200,000 crore mark (Rs. 245,706 crore, US$ 48.44 billion),

Networth crossed Rs. 100,000 crore mark (Rs. 126,373 crore, US$ 24.92 billion),

unparalleled in the Indian Private sector.

RIL declares Dividend of 130%. Payout of Rs 1,897 Crore, highest in the Indian

Private Sector.

2008


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Revenue crossed Rs. 130,000 crore mark (Rs. 139,269 crore, US$ 34.7 billion), Net

Profit crossed Rs. 15,000 crore mark (Rs. 19,458 crore, US$ 4.9 billion) and Total

Assets crossed Rs. 140,000 crore mark (Rs. 149,839 crore, US$ 37.3 billion),


Exports crossed Rs. 80,000 crore mark (Rs. 83,492 crore, US$ 20.8 billion), 13.4%of India's total exports.


Private Sector.

2007

Revenue crossed Rs. 100,000 crore mark (Rs. 118,354 crore, US$ 27 billion), Net

Profit crossed Rs. 10,000 crore mark (Rs. 11,943 crore, US$ 2.75 billion) and Total

Assets crossed Rs. 100,000 crore mark (Rs. 117,353 crore, US$ 27 billion),


Exports crossed Rs. 60,000 crore mark (Rs. 66,627 crore, US$ 15 billion), 12% of

India's total exports.


Private Sector.

Major Subsidiaries & Associates

RIL has ownership interest in the following subsidiaries & associates.

Major Subsidiaries :

Reliance Netherlands B.V.

Reliance Retail Limited

Reliance Jamnagar Infrastructure Limited

Reliance Haryana SEZ Limited

Reliance Industrial Investments and Holdings Limited

Reliance Ventures Limited

Reliance Strategic Investments Limited

Reliance Exploration and Production DMCC
http://www.ril.com/html/aboutus/subsidiaries_associates_RRL.htmlhttp://www.ril.com/html/aboutus/subsidiaries_associates_RRL.html


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Reliance Industries (Middle East) DMCC

Reliance Global Management Services Limited

Reliance Commercial Associates Limited

RIL (Australia) Pty Ltd

Recron (Malaysia) Sdn Bhd

Gulf African Petroleum Corporation (Mauritius)

GAPCO Tanzania Limited

GAPOil Tanzania Limited

GAPCO Kenya Limited

Transenergy Kenya Limited

GAPCO Uganda Limited

GAPCO Rwanda Sarl

GAPOil (Zanzibar) Limited

Reliance Fresh Limited

Retail Concepts and Services (India) Limited

Reliance Retail Insurance Broking Limited

Reliance Dairy Foods Limited

Reliance Retail Finance Limited

RESQ Limited

Reliancedigital Retail Limited

Reliance Financial Distribution and Advisory Services Limited

Reliance Hypermart Limited

Reliance Retail Travel & Forex Services Limited

Reliance Brands Limited

Reliance Wellness Limited

Reliance Footprint Limited

Reliance Integrated Agri Solutions Limited

Reliance Trends Limited

Reliance Lifestyle Holdings Limited

Reliance Universal Ventures Limited

Reliance Autozone Limited

Strategic Manpower Solutions Limited

Reliance Gems and Jewels Limited

Delight Proteins Limited

Reliance F&B Services Limited
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Reliance Agri Products Distribution Limited

Reliance Leisures Limited

Reliance Retail Securities and Broking Company Limited

Reliance Home Store Limited

Reliance Trade Services Centre Limited

Reliance Food Processing Solutions Limited

Reliance Supply Chain Solutions Limited

Reliance Loyalty and Analylitics Limited

Reliance Digital Media Limited

Reliance-GrandOptical Private Limited

Reliance Vantage Retail Limited

Reliance People Serve Limited

Reliance Infrastructure Management Services Limited

Reliance International Exploration and Production, Inc

Reliance Petroinvestments Limited

Reliance Universal Commercial Limited

Reliance Global Commercial Limited

Wave Land Developers Limited

Reliance Cyprus Limited

Reliance Global Business B.V.

Reliance Global Energy Services Limited

Reliance Gas Corporation Limited

Reliance Global Energy Services (Singapore) Pte. Ltd

Reliance Polymers (India) Limited

Reliance Polyolefins Limited

Reliance Aromatics & Petrochemicals Private Limited

Reliance Energy and Project Development Private Limited

Reliance Chemicals Limited

Reliance Universal Enterprises Limited

Reliance One Enterprises Limited

Reliance Personal Electronics Limited

International Oil Trading Limited

Reliance Review Cinema Limited

Reliance Replay Gaming Limited

Reliance Nutritional Food Processors Limited
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Reliance Commercial Land & Infrastructure Private Limited

Reliance Eminent Trading & Commercial Private Limited

Reliance Progressive Traders Private Limited

Reliance Prolific Traders Private Limited

Reliance Universal Traders Private Limited

Reliance Prolific Commercial Private Limited

Reliance Comtrade Private Limited

Reliance Ambit Trade Private Limited

Reliance Corporate IT Park Limited

Reliance Petro Marketing Private Limited

LPG Infrastructure (India) Private Limited

Reliance Infosolution Private Limited

RIL USA Inc.

Reliance Corporate Centre Limited

Reliance Convention and Exhibition Centre Limited

Major Associates :

Reliance Industrial Infrastructure Limited

Reliance Europe Limited

STOCK

According to the company website "1 out of every 4 investors in India is a Relianceshareholder." 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.

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
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into the fresh foods market as Reliance Fresh and launched a new chain called Delight

Reliance Retail andNOVA Chemicals have signed a letter of intent to make energy-efficient

structures. 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. In2002, 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.

SUBSIDIARIES

Major Subsidiaries & Associates - 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 is a diversified and

integrated biotechnology initiative of the Reliance group companies, India's largest private

sector companies.

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 Life Sciences Institute (Rils), established by Dhirubhai Ambani Foundation,

is an institution of higher education in various fields of life sciences and related technologies.

Solutions primarily to remote and rural areas and bring about a transformation in the

quality of life. 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 (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.
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Reliance Life Sciences (RLS) initiative, offering services of cord blood banking is supported

by Reliance Group, India's largest business house.

Reliance's Oil & Gas find

In 2002, Reliance found natural gas in the Krishna Godavari basin off the coast ofAndhra

Pradesh nearVishakapatnam. It was the largest discovery of natural gas in world in financial

year 2002-2003. On 1 April 2009, Reliance Industries (RIL) commenced natural gas

production from its D-6 block in the Krishna-Godavari (KG) basin.

The gas reserve is 7 trillion cubic feet in size. Equivalent to 1.2 billion barrels (165 million

tonnes) ofcrude oil, but only 5 trillion cubic feet are extractable.

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.

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 theReliance Retail brand.

Environmental record

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 developa strong recycling process which won them a reward in the Team Excellence competition.

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
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to support as a sponsor. The conference proved effective as a way to promote environmental

concern in the area.

Awards & Recognition

International Refiner of the Year in 2005 at the 23rd Annual Hart's World Refining

and Fuels Conference

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
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Anil Ambani

Anil Ambani (born June 4, 1959) is an Indian billionaire and a major shareholder in Reliance

Anil Dhirubhai Ambani Group. Anil's elder brother, Mukesh Ambani, is also a billionaire,

and owns another company called Reliance Industries. With an estimated personal wealth of

$ 17 Billion, he is the third richest Indian in the world, behind Mukesh Ambani and Lakshmi

Mittal.

He is a member of the Board of Overseers at the Wharton School of the University of

Pennsylvania. He is also the member of the Board of Governors of the Indian Institute of

Technology Kanpur; Indian Institute of Management, Ahmedabad. He is a member of the

Central Advisory Committee, Central Electricity Regulatory Commission. In March 2006, he

resigned. He is also the Chairman of Board of Governors of DA-IICT, Gandhinagar.

Career

Ambani joined Reliance, the company founded by his late father Dhirubhai Ambani, in 1983

as Co-Chief Executive Officer and is credited with having pioneered many financial

innovations in the Indian capital markets. For example, he led India's first forays into

overseas capital markets with international public offerings of global depositary receipts,

convertibles and bonds. He directed Reliance in its efforts to raise, since 1991, around US$2

billion from overseas financial markets; with a 100-year Yankee bond issue in January 1997

being the high point, after which people regarded him as a financial wizard. He along with his

brother, Mukesh Ambani, has steered the Reliance Group to its current status as India's

leading textiles, petroleum, petrochemicals, power, and telecom company.

He has been linked with several starlets in his long career including his current wife of more

than 15 years. He is a close friend of movie star Amitabh Bachchan and Subrata Roy.One of

his major achievements in the entertainment industry is the takeover of Adlabs, the movie

production to distribution to multiplex company that owns India's only dome theatre and the

recently announced joint venture worth US$ 825 million with Steven Spielberg

He has been embroiled in a dispute with his brother, Mukesh Ambani, over the supply of gasfrom the latter's KG basin..


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He recently topped Business Sheet's "world's biggest loser" list of business leaders who lost

money in the Late 2000s recession, losing $32.5 billion in 2008, which brought him out of

the top ten list to number 34 in 2009.

Awards and Recognition

* Voted the 3rd most powerful person in India in the 2009 India Today Power List, in

March.

* Voted Businessman of the Year 2006 by Times of India-TNS poll

* Adjudged as the CEO of the Year at the prestigious Platts Global Energy Awards for

2004.

* Voted as 'MTV Youth Icon of the Year for 2003' in September 2003.* Conferred 'The Entrepreneur of the Decade Award' by the Bombay Management

Association, October 2002.

* Awarded the First Wharton Indian Alumni Award by the Wharton India Economic

Forum (WIEF) in recognition of his contribution to the establishment of Reliance as a global

leader in many of its business areas, December 2001.

* Conferred the ' Businessman of the Year 1997' award by India's leading business

magazine Business India, December 1997.

Personal life

He is married to Indian Bollywood Actress Tina Munim and has two sons Anmol and

Anshul. He has taken part in the Mumbai Marathon race. Ambani is also a fan of Coca-Cola

Championship club, Newcastle United and was extremely close to buying the club in

September 2008. In June 2004, Anil was elected as an Independent Member of the Rajya

Sabha - Upper House, Parliament of India with the support of the Samajwadi Party. He wakes

up daily at 4:00am, checks the news and then goes for a run.

Travel

He has a Bell 412 13-seat helicopter, which he purchased in 2001.


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Assassination attempt

On the evening of 23 April 2009, mud, gravel and pebbles were found in his 13-seat

helicopter VT-RCL's (a Bell 412) gearbox. Despite the gear box being located at a height of

10 feet from the ground, the gravel and pebbles were put in the filler cap in the gear box. A

senior pilot of Reliance Transport and Travels Pvt. Ltd., Captain RN Joshi filed a complaint

with the Mumbai Police Commissioner's office, Maharashtra Chief Minister's office,

Maharasthra Home Minister's office, Chief Secretary's office, Joint Commissioner of Police's

office and also at the Santa Cruz Police Station.

The helicopter was standing outside a hangar at the Mumbai Airport when the sabotage was

found by Bharat Borge, a technician for Air Works. Borge was found dead on April 28, 2009

on Mumbai's suburban railway tracks between Vile Parle and Andheri. A letter was also

found with him. Railway Police believes that he might have been run over by the Churchgate-

bound fast-local. "Borge's mysterious death created a flutter, lending credence to Anil

Ambani's charge that certain 'rival business groups were trying to eliminate him'. "

The post-mortem conducted on Bharat Borge revelated that he died of shock due to multiple

fractures, resulting in brain haemorrhage. There was also a letter found in his pocket writtenin marathi saying "I haven't done anything wrong. That day, some Reliance people came and

spoke to me. I didn't tell them anything. One of them took my number and said that he'll talk

to me later. I felt they were using me. I am writing this letter after thinking all night. It looks

like the blame will be on me. I think the investigation is on the right track and truth will

emerge soon."

Investigators later said that Borge's death was an accident and not suicide.

Airworks India Engineering Pvt. Ltd., the company that maintains the helicopter, was

questioning its employees in the case.

English Premier League

Ambani was in talks Everton officials over a deal to takeover the club. Before this he was

also on the brink of buying Newcastle United. He is now believed to be keen to re-kindle his


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interest in Everton as Chairman Bill Kenwright has admitted he will now actively seek to sell

his shares due to the collapse of the clubs collapsed Destination Kirkby stadium project.

growth has no limit at reliance

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