|
Unique feature of Reliance Industries is its backward vertical integration. Starting with fabrics towards the end of 1970s, RIL set up ventures in polyester fibers, fiber intermediaries, plastics, petrochemicals, petroleum refining, and oil and gas exploration and extraction. RIL is largest producer of polyester yarns globally, and among top ten petrochemical product manufacturers.
Brief history
Reliance Industries made its initial public offering in 1977 and in 1985 its total assets crossed Rs. 1000 crores. RIL set up their first polyester filament yarn (PFY) in Patalganga in 1982 followed by a second phase in 1985. Subsequently in 1986 one polyester staple fiber (PSF) manufacturing facility, and one purified terephthalic acid (PTA) production unit were commissioned in Patalganga. This was followed by establishment of a linear alkyl benzene (LAB) production facility at Patalgnaga in 1987.
In 1995 net profit of RIL crossed Rs.1000 crore for first time in its history. Net profit of US $38 billion (Rs.1065 crores) was never achieved by any Indian company. RIL was first Asian company to issue 50 and 100 year bond in US capital market.
Products and services
Vertical integration has been a cornerstone of RIL products. Starting from textiles sold under ‘Vimal’ brand name to production of polyester fiber ‘recron’, to refining and extraction of petroleum, Reliance has all intermediary products manufactured by itself. RIL is credited of being:
i)Globally, largest producer of polyester fiber and yarn;
ii)World’s 4th largest manufacturer of purified terephtahalic acid (PTA) and paraxylene (PX);
iii)Internationally, 6th largest manufacturer of mono-ethylene glycol (MEG);
iv)World’s 7th largest manufacturer of polypropylene (PP)
Reliance Industries specialize in four sectors, namely textile production, petrochemical manufacturing and marketing, petroleum refining and marketing, and oil and natural gas exploration and production.
Financials
RIL as of March 2008 achieved gross sales of US $26.07 billion and earned a profit of US $2.79 billion. Total assets were worth US $30.67 billion.
Awards and recognition
Reliance Industries Limited was awarded PetroFed 2007 in categories of ‘Exploration and Production – Company of the Year' and ‘Refinery of the Year’ by PetroFed Association. In 2007, RIL was awarded ‘Udyog Ratna’ by Institute of Economic Studies. RIL also received ‘Outstanding Achievement in Oil Refining’ award from Chemtech Foundation in 2007. RIL has also received multiple awards in categories of training and development, health, safety and environment, quality, energy excellence, technology, innovation and R&D, and social initiatives.
|
|