Journey of Reliance Industries Limited (RIL)

Reliance Industries Limited is a multinational conglomerate based in Mumbai, Maharashtra. It was established in 1958 by Dhirubhai Ambani as Reliance Commercial Corporation, starting as a small textile manufacturing unit. In 1966, Reliance Textiles Industries Pvt. Ltd. was incorporated and set up a synthetic fabrics mill in Baroda, Gujarat. By 1973, it had been renamed Reliance Textiles Industries Limited and issued its IPO in 1977. This IPO marked a significant moment in India’s financial history by promoting the equity culture and was oversubscribed seven times, boosting Reliance's expansion. The company was renamed Reliance Industries Ltd. in 1985. From 1985 to 1992, it significantly increased its polyester yarn output. The Hazira petrochemical plant became operational in 1991–92. In 1995–96, Reliance ventured into the telecom sector. In 1998, it acquired Indian Petrochemicals Corporation Limited from the Government of India under the LPG policy. Between 1998 and 2000, the world’s largest refinery was built in Jamnagar, Gujarat. In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. emerged as the top two Indian companies. In 2002, a major gas discovery was made in the Krishna Godavari basin. The company restructured its businesses in 2005 and 2006, and also entered the organised retail sector in 2006. After Dhirubhai Ambani passed away in 2002, his sons, Mukesh and Anil Ambani, took over. They later split the business: Mukesh Ambani led Reliance Industries (petrochemicals, oil, textiles), while Anil Ambani led Reliance Infocomm, Reliance Energy, and Reliance Capital. In 2019, Reliance became the first Indian company to achieve a market capitalisation of ₹10 trillion.

Business Segments

Reliance Industries operates across various sectors including energy, petrochemicals, natural gas, retail, telecom, mass media, and textiles. Its offerings meet everyday needs across diverse economic and social demographics. Below are the company’s primary business segments:

1. Exploration and Production: RIL's upstream segment covers the full lifecycle from exploration to extraction of hydrocarbons. In 2002–2003, it made a landmark discovery in the Krishna Godavari basin (KG D6 Block), which became India’s most prominent deep-water field and set a global benchmark for rapid development.
2. Petroleum Refining and Marketing: A key pillar in Reliance’s global growth strategy. The Jamnagar refinery, the largest in the world, has a capacity of 1.24 million BPSD and has earned global recognition.
3. Petrochemicals: Among the world’s leading petrochemical producers, Reliance has a capacity exceeding 30 million tonnes per year, including polymers, polyesters, aromatics, elastomers, and fibre intermediates. It is also the world’s largest producer of polyester fibre and yarn with 2.5 million tonnes annual capacity.
4. New Energy: Reliance aims to become a global leader in New Energy and Materials within 15 years, focusing on carbon recycling, circular economy, and affordable clean energy for households, enterprises, and utilities.
5. Retail: With over 18,000 stores across 7,000+ cities, Reliance Retail is one of India’s largest retail networks. It serves 249 million registered customers with a portfolio spanning groceries, fashion, lifestyle, and electronics.
6. Jio: Jio Platforms is building a digital ecosystem for over a billion Indians. With investments exceeding $50 billion, it offers telecom, cloud, media, retail, financial services, education, health, agriculture, G2C, smart cities, and manufacturing services. It is one of India’s largest telecom companies with 400+ million subscribers.
7. Textiles: Starting as a textile firm, Reliance continues to produce products like denim, ethnic wear, and kids' fashion. It helped establish 'Vimal' as a leading Indian textile brand from its Naroda unit.
8. Media: Through companies like Network18 and Viacom18, Reliance operates various news channels, websites, and entertainment productions.

The company has numerous subsidiaries in sectors such as energy, petrochemicals, retail, telecom, and media. Key subsidiaries include:

1. Jio Platforms Limited: Offers mobile services, internet plans, international roaming, Wi-Fi, and consulting services.
2. Reliance Retail: With over 18,000 stores, this subsidiary serves customers across the value and premium segments.
3. Jio Financial Services: Invested in six companies including RIIHL, with plans to grow into merchant lending, mutual funds, and insurance.
4. Just Dial Limited: A top local search engine offering multi-platform search services across India.
5. Network 18 Media: Manages digital, TV, film, and content creation platforms.

Key Personnel

Mukesh Ambani, Managing Director Mukesh Ambani is the Chairman and Managing Director of Reliance Industries. He joined the company in 1981 and played a key role in its diversification and expansion. He led the development of the Jamnagar refinery and oversaw growth in petrochemicals, power, and infrastructure.

Corporate Actions

Bonus Shares

• In 2017, a 1:1 bonus issue was declared, granting shareholders one free share for each held.
• In 2009, another 1:1 bonus issue was announced.

Rights Issue

• In 2020, RIL introduced a 1:15 rights issue, enabling shareholders to purchase one share for every 15 held at a discounted rate.

Mergers and Acquisitions

• In 2023, RIL demerged its financial arm into Jio Financial Services.
• In 2021, RIL acquired a 51% stake in Just Dial.
• In 2020, it acquired Future Group’s retail, logistics, and warehousing businesses.

Management Outlook

• Reliance continues to focus on innovation, integration, and scalability to maintain market leadership and drive growth across its diverse businesses.

• The company is dedicated to CSR through the Reliance Foundation, with initiatives aimed at sustainable and inclusive community development across all its group entities.