Reliance Industries
Reliance Industries, a Fortune 500 company and the largest private sector company in India, was founded in the year 1966 by Mr. Dhirubhai H Ambani. The company has evolved from being a textiles and polyester company to an integrated player across energy, materials, retail, entertainment and digital services. Reliance’s products and services portfolio now touches almost all Indians on a daily basis, across economic and social spectrums.
The company has recently released their quarter 4 results for the year 2020-21. The following are the major points worth noting.
The company’s PAT has shown a 0.68% increase in the Q4 of FY21 compared to Q3 of the same year. While the Q4 PAT is around 57.08% higher than the same quarter of the previous year. Another parameter that assumes importance is the revenue from operations, which has grown by around 25% from the Q3 of the same year and stood at Rs. 1,54,896 crores.
Since Reliance offers myriad of product and services portfolio to its customers, looking at the percentage contribution of the different sectors to the overall revenue becomes relevant. 52.79% of the gross revenue was contributed to by the Oil to Chemical segment. At 24.07% the Retail segment comes at a close second. While Digital Services, Oil Exploration and Financial services contribute 11.82%, 0.44% and 0.24% respectively. 10.64% of the Gross revenue is contributed by the remaining segments.
Hence, it is evident that Reliance continues to maintain its financial clout in the Indian private industry with higher revenues and profits despite the menaces of the COVID pandemic.
There are other worth-mentioning points about the company as well.
Reliance Industrial Investments and Holdings Limited (RIIHL), a wholly owned subsidiary of Reliance Industries Limited (RIL), recently acquired Stoke Park Limited. The company made this purchase for £57 million (around Rs 593 crore). Also, Reliance Strategic Business Ventures Limited (“RSBVL”), a wholly owned subsidiary of Reliance Industries Limited, acquired additional equity stake in skyTran Inc. (“skyTran”) for a consideration of $ 26.8 million increasing its shareholding to 54.46% on a fully diluted basis.
Not only this, Reliance also contributed Rs 5 billion, Rs 50 million and Rs 50 million to the PM CARES Fund, the Maharashtra CM Relief Fund and the Gujarat CM Relief Fund respectively as part of its COVID-19 Response. This shows that the company takes its social responsibilities with utmost seriousness.
Overall, Reliance is a company that not only focusses on the financial aspects but equally on the Environmental, Social and Governance aspects of the business.
