Reliance Industries Limited (RIL) is an Indian Multinational Conglomerate Company headquartered in Mumbai, Maharashtra, India. Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications. Reliance is one of the most profitable companies in India, the largest publicly traded company in India by market capitalization, and the largest company in India as measured by revenue after recently surpassing the government-controlled Indian Oil Corporation. On 22 June 2020, Reliance Industries became the first Indian company to exceed US$150 billion in market capitalization after its market capitalization hit ₹11,43,667 crore on the BSE.
The company is ranked 96th on the Fortune Global 500 list of the world’s biggest corporations as of 2020. It is ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016. Reliance continues to be India’s largest exporter, accounting for 8% of India’s total merchandise exports with a value of ₹1,47,755 crore and access to markets in 108 countries. Reliance is responsible for almost 5% of the government of India’s total revenues from customs and excise duty. It is also the highest income tax payer in the private sector in India.
The company was co-founded by Dhirubhai Ambani and Champaklal Damani in 1960’s as Reliance Commercial Corporation. In 1965, the partnership ended and Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Engineers Pvt. Ltd. was incorporated in Maharashtra. It established a synthetic-fabrics mill in the same year at Naroda in Gujarat. On 8 May 1973, it became Reliance Industries Limited. In 1975, the company expanded its business into textiles, with “Vimal” becoming its major brand in later years. The company held its Initial Public Offering (IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles company Sidhpur Mills was amalgamated with the company. In 1980, the company expanded its polyester yarn business by setting up a Polyester Filament Yarn Plant in Patalganga, Raigad, Maharashtra with financial and technical collaboration with E. I. du Pont de Neumours & Co., U.S.
In 2010, Reliance entered the broadband services market with acquisition of Infotel Broadband Services Limited, which was the only successful bidder for pan-India fourth-generation (4G) spectrum auction held by the government of India.
In the same year, Reliance and BP announced a partnership in the oil and gas business. BP took a 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the KG-D6 block for $7.2 billion. Reliance also formed a 50:50 joint venture with BP for sourcing and marketing of gas in India.
In 2017, RIL set up a joint venture with Russian Company Sibur for setting up a Butyl Rubber plant in Jamnagar, Gujarat, to be operational by 2018.
In August 2019, Reliance added Fynd primarily for its consumer businesses and mobile phone services in the e-commerce space.
Operations
The company’s petrochemical, refining, oil and gas-related operations form the core of its business; other divisions of the company include cloth, retail business, telecommunications and special economic zone (SEZ) development. In 2012–13, it earned 76% of its revenue from refining, 19% from petrochemicals, 2% from oil & gas and 3% from other segments.
In July 2012, RIL informed that it was going to invest US$1 billion over the next few years in its new aerospace division which will design, develop, manufacture, equipment and components, including aircraft, engines, radars, avionics, and accessories for military and civilian aircraft, helicopters, unmanned airborne vehicles and aerostats.
On 31 March 2013, the company had 158 subsidiary companies and 7 associate companies.
• Jio Platforms Limited, essentially a technology company, is a majority-owned subsidiary of RIL. It is the result of a corporate restructuring announced in October 2019, resulting in all the digital initiatives and the telecommunication assets being housed under this new subsidiary. This new subsidiary holds all the digital business assets including Reliance Jio Infocomm Ltd, which in turn holds the Jio connectivity business – Mobile, broadband and enterprise and also the other digital assets (JIO Apps, Tech backbone and Investments in other tech entities like Haptic, Hathaway and Den Networks among others.
• Reliance Retail is the retail business wing of the Reliance Industries. In March 2013, it had 1466 stores in India. It is the largest retailer in India. Many brands like Reliance Fresh, Reliance Footprint, Reliance Time Out, Reliance Digital, Reliance Wellness, Reliance Trends, Reliance Autozone, Reliance Super, Reliance Mart, Reliance iStore, Reliance Home Kitchens, Reliance Market (Cash n Carry) and Reliance Jewel come under the Reliance Retail brand. Its annual revenue for the financial year 2012–13 was ₹108 billion (US$1.5 billion) with an EBITDA of ₹780 million (US$11 million).
• Reliance Life Sciences works around medical, plant and industrial biotechnology opportunities. It specializes in manufacturing, branding, and marketing Reliance Industries’ products in bio-pharmaceuticals, pharmaceuticals, clinical research services regenerative medicines, molecular medicines, novel therapeutics, biofuels, plant biotechnology, and industrial biotechnology sectors of the medical business industry.
• Reliance Logistics is a single-window company selling transportation, distribution, warehousing, logistics, and supply chain-related products. Reliance Logistics is an asset-based company with its own fleet and infrastructure. It provides logistics services to Reliance group companies and outsiders.
• Reliance Solar, the solar energy subsidiary of Reliance, was established to produce and retail solar energy systems primarily to remote and rural areas. It offers a range of products based on solar energy: solar lanterns, home lighting systems, street lighting systems, Water Purifications. systems, refrigeration systems and solar air conditioners
• Reliance Industrial Infrastructure Ltd. (RIIL) is an associate company of RIL. RIL holds 45.43% of total shares of RIIL. It was incorporated in September 1988 as Chembur Patalganga Pipelines Limited, with the main objective being to build and operate cross-country pipelines for transporting petroleum products.
• Network 18, a mass media company. It has interests in television, digital platforms, publication, mobile apps, and films. It also operates two joint ventures, namely Viacom 18 and History TV18 with Viacom and A+E networks respectively. It also has acquired ETV network and since renamed its channels under the Colors TV brand.
• Reliance Eros Productions LLP, joint venture with Eros International to produce film content in India.
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