Reliance Industries Limited
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Reliance Industries Limited is India's largest private sector company with a "turnover" of 744 billion rupees (US$17 billion) for the fiscal year ending in March 2004. It was founded by Dhirubhai Ambani in the 1970s. Reliance sponsored the 1987 Cricket World Cup which was held in India.
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Financials
Reliance enjoys an eminent position in the Indian Economy with reported "turnover" amounting to about 4% of India's GDP (which was 27 trillion rupees during 2003, [1] (http://www.imf.org/external/pubs/ft/weo/2004/02/data/dbcoutm.cfm?SD=2003&ED=2003&R1=1&R2=1&CS=3&SS=2&OS=C&DD=0&OUT=1&C=914-446-612-666-614-672-311-946-213-137-911-962-193-674-122-676-912-548-313-556-419-678-513-181-316-682-913-684-124-273-339-921-638-948-514-686-218-688-963-518-616-728-223-558-516-138-918-353-748-196-618-278-522-692-622-694-156-142-624-449-626-564-628-283-228-853-924-288-233-293-632-566-636-964-634-182-238-453-662-968-960-922-423-714-935-862-128-716-611-456-321-722-243-965-248-718-469-724-253-576-642-936-643-961-939-813-644-199-819-184-172-524-132-361-646-362-648-364-915-732-134-366-652-734-174-144-328-146-258-463-656-528-654-923-336-738-263-578-268-537-532-742-944-866-176-369-534-744-536-186-429-925-178-746-436-926-136-466-343-112-158-111-439-298-916-927-664-846-826-299-542-582-443-474-917-754-544-698-941&S=NGDP-PPPEX&CMP=0&x=61&y=16)).
Sales $11.82 bil
Profits $1.19 bil
Assets $16.60 bil
Market Value $17.81 bil
Employees 11,358
Stock
Among Indian shareholders 25% own a Reliance share.
Products
Reliance Industries Limited has a wide range of products from petrochemicals (its major product), garments (under the brand name of Vimal), telecommunications and electricity generation and supply.
Subsidiaries
Reliance recently founded the company Reliance Infocomm, and a CDMA mobile service in India. The mobile service caters content from Wikipedia in one of its menus. It also took over the Bombay Suburban Electric Supply company, now called Reliance Energy Limited.
Management
Currently it is jointly managed by Dhirubhai's sons, chairman Mukesh Ambani and Anil Ambani. The share prices of the company tumbled recently after CMD of Reliance Industries Limited and elder brother, Mukesh Ambani, said in an interview to CNBC, that there were ownership issues related to the company, implying that all was not well between him and younger brother Anil. He then went on to coerce the board of RIL to give the CMD (himself) the final authority in the company. This further distanced the two brothers.
The $23-billion Reliance Industries, representing 4% of India's economy will be split between the brothers Anil and Mukesh Ambani, heirs to the sprawling industrial behemoth created by their father, Dhirubhai Ambani.
The details will take some time to emerge, but elder brother Mukesh will keep control of the flagship Reliance Industries, in the oil, gas and petrochemicals space, and worth about 70-80% of the empire. Younger brother Anil gets control of Reliance Energy, one of India's biggest power utility firms, Reliance Infocomm, market leader in the country's booming telecoms sector, and Reliance Capital, the group's finance arm.
External links
- Reliance's About us page (http://www.ril.com/eportal/VirtualPageView.jsp?page_id=8)
- Yahoo! - Reliance Industries Limited Company Profile (http://biz.yahoo.com/ic/71/71410.html)