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Energy Minerals

Reliance Industries Ltd.

Company Background

Reliance Industries is the largest private-sector company in India. It is involved in the oil refining, petrochemical, gas, retail and textile businesses and boasts consolidated sales of more than $60 billion. It is a core unit of Reliance Group, which ranks alongside Tata and Birla among the country's major conglomerates.

Reliance Group was founded by Dhirubhai Ambani, who went into business in the 1950s. The company expanded into textiles in the 1960s and entered the petrochemical sector in the 1980s, amassing a fortune for Ambani.

After Ambani died in 2002, his sons Mukesh, the eldest, and Anil had a row over corporate policy. The group was divided in 2005 as Mukesh took over the petrochemical and textile operations while Anil took charge of the financial and telecommunications segments. Mukesh leads Reliance Industries as chairman and expanded its operations by pushing into retail and telecommunications services.

The Ambani family's roots lie in India's western state of Gujarat. After Narendra Modi, who served as chief minister of Gujarat for a long period, took power as the country's prime minister in May 2014, Mukesh quickly pledged 1.8 trillion rupees worth of capital investment over three years.

Mukesh, his family and group companies own nearly 40% in Reliance Industries. The chairman holds an MBA from Stanford University in the U.S. and is one of India's wealthiest individuals.

Business Summary

Reliance Industries Ltd. engages in hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail, and telecommunications. It operates through the following business segments: Refining, Petrochemicals, Oil and Gas, Organised Retail, Digital Services, and Others. The Refining segment includes the production and marketing operations of the petroleum products. The Petrochemicals segment refers to the manufacture and marketing operations of petrochemical products. Oil and Gas segment consists of exploration, development and production of crude oil and natural gas. The Organised Retail segment comprises of organized retail business. The Digital Services segment refers to provision of digital services. The Others segment engages in Media, SEZ development, and textile business. The company was founded by Dhirubhai Hirachand Ambani in 1966 and is headquartered in Mumbai, India.

Financial Highlights

Mar 2019 INRUSD
Gross Profit1,136.80B16,253.30M
Operating income652,890M9,334.64M
Income before tax552,270M7,896.03M
Net income395,880M5,660.06M
Diluted EPS66.800.95
Dividends Per Share6.500.09
Total Assets10,024.06B144,699.52M
Total liabilities6,070.14B87,623.81M
Total equity3,871.12B55,880.47M
Operating cash flow239,580M3,425.37M
Currency in INRCurrency in USD

Historical Data

 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 3,743.72B 2,725.83B 3,039.54B 3,908.23B 5,662.63B
Gross Profit 410,570M 494,190M 539,910M 774,260M 1,136.80B
Operating income 259,020M 308,990M 353,290M 484,520M 652,890M
Income before tax 309,960M 385,010M 401,420M 494,260M 552,270M
Net income 235,660M 297,450M 299,010M 360,750M 395,880M
EBITDA 374,490M 424,640M 469,750M 651,580M 862,230M
Diluted EPS 40.05 50.37 50.57 60.88 66.80
Dividends Per Share 5 5.25 5.50 6 6.50
Total Assets 5,114.95B 5,989.97B 7,068.02B 8,163.48B 10,024.06B
Total liabilities 2,899.58B 3,640.85B 4,401.76B 5,193.03B 6,070.14B
Total equity 2,184.82B 2,315.56B 2,637.09B 2,935.06B 3,871.12B
Operating cash flow 348,280M 325,840M 380,850M 561,210M 239,580M
 Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019
Revenue 61,228.46M 41,634.26M 45,327.66M 60,624.62M 80,960.98M
Gross Profit 6,714.86M 7,548.24M 8,051.50M 12,010.35M 16,253.30M
Operating income 4,236.26M 4,719.50M 5,268.49M 7,515.89M 9,334.64M
Income before tax 5,069.38M 5,880.63M 5,986.24M 7,666.98M 7,896.03M
Net income 3,854.21M 4,543.24M 4,459.03M 5,595.96M 5,660.06M
EBITDA 6,124.77M 6,485.94M 7,005.22M 10,107.33M 12,327.66M
Diluted EPS 0.65 0.76 0.75 0.94 0.95
Dividends Per Share 0.08 0.08 0.08 0.09 0.09
Total Assets 81,732.94M 90,452.18M 108,847.61M 125,165.10M 144,699.52M
Total liabilities 46,333.04M 54,979.04M 67,787.17M 79,621.20M 87,623.81M
Total equity 34,911.73M 34,966.36M 40,611.22M 45,001.28M 55,880.47M
Operating cash flow 5,696.11M 4,976.87M 5,679.49M 8,705.51M 3,425.37M

Valuation Measures

Mar 2019
Operating margin11.52%
Profit margin6.99%

Key executives

  • Chairman & Managing Director: Mukesh Dhirubhai Ambani
  • Joint Chief Financial Officer: Srikanth Venkatachari
  • Chief Financial Officer: Alok Agarwal
  • Group Secretary & Chief Compliance Officer: K. Sethuraman
  • Joint Secretary & Compliance Officer: Savithri Parekh


  • Reliance Industries Ltd. (6.7%)
  • Life Insurance Corp of India (6.1%)
  • Capital Research & Management Co. (World Investors) (4.0%)
  • Petroleum Trust (3.8%)
  • Fidelity Management & Research Co. LLC (1.9%)
  • The Vanguard Group, Inc. (1.7%)

Contact Details

  • Website:
  • Address: Maker Chambers-IV, Nariman Point, Mumbai, 400021, India
  • Phone: +91.22.22785000

Related Companies

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Last Updated on 27 Mar, 2020

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