Interviews
'Reliance Inds performed commendably in Q3', Mr. Ambani, CMD
22 Jan '09
8 min read
RIL incorporated wholly owned subsidiaries in two key global markets viz. London and Singapore, in an effort to tap the emerging opportunities in global markets of petroleum products.
PETROCHEMICALS BUSINESS:
During the quarter ended 31st December 2008, EBIT for the petrochemicals business was at Rs 1,657 crore, a decrease of 7% while EBIT margin decreased to 13.1% as compared to 14.0% in the corresponding period of the previous year. The quarter witnessed steep fall in product as well as raw material prices as the naphtha prices decreased by 66% while polymer product prices decreased by 45% to 50% and polyester product prices decreased by 25% to 30%.
Lower level of product prices led to increased domestic demand and improvement in EBIT margin as compared to the trailing quarter. During the nine month period, EBIT for the petrochemicals business was at Rs 5,133 crore, a decrease of 9% while EBIT margin decreased to 11.9% as compared to 14.5% in the corresponding period of the previous year. The decrease in EBIT margin is primarily due to lower product margins and also due to base effect on account of historical high prices witnessed during the first half of FY 2008-09.
The polymer production volumes of PP, PE and PVC decreased by 6% to 2,358 KT. RIL produced 1,342 KT of ethylene and 533 KT of propylene, a decrease of 5% each over the corresponding period of the previous year. Polyester production volume (PFY, PSF and PET) decreased by 3% to 1,135 KT. RIL has maintained its focus on specialty products which account for 55% of PSF and 36% of PFY production. RIL's polyester intermediates (PX, PTA and MEG) production remained stable at 3,445 KT during the period under review.
RELIANCE PETROLEUM LIMITED (RPL):
Reliance Petroleum Limited (RPL) has successfully commenced operations at its complex refinery during the quarter ending 31st December 2008. RPL started its crude processing on 25th December 2008 and achieved successful production of various products. RPL expects to despatch its first parcel of refinery products in January 2009. The initial phase of production has achieved stability. Commissioning activities are nearing completion at several of the secondary processing units. Several support units and utilities such as water, air, nitrogen, steam and power required for the refinery are being operated successfully.
The secondary processing units are under synchronisation and commissioning. In completing the state-of-the-art, globally competitive refinery in just 36 months, from concept to commissioning, the Company has set a new global benchmark for building grass-root refinery of this scale and complexity at a time when many large green-field refinery projects that were announced in the world have been facing significant delays extending to a few years.
RELIANCE RETAIL LIMITED (RRL):
Reliance Retail today operates a total of more than 900 stores pan India with over 4.2 million square feet of trading space. During the quarter, Reliance Retail launched two new formats: Reliance Living Furnishings and Reliance Living Furniture.
Click here to view results.
PETROCHEMICALS BUSINESS:
During the quarter ended 31st December 2008, EBIT for the petrochemicals business was at Rs 1,657 crore, a decrease of 7% while EBIT margin decreased to 13.1% as compared to 14.0% in the corresponding period of the previous year. The quarter witnessed steep fall in product as well as raw material prices as the naphtha prices decreased by 66% while polymer product prices decreased by 45% to 50% and polyester product prices decreased by 25% to 30%.
Lower level of product prices led to increased domestic demand and improvement in EBIT margin as compared to the trailing quarter. During the nine month period, EBIT for the petrochemicals business was at Rs 5,133 crore, a decrease of 9% while EBIT margin decreased to 11.9% as compared to 14.5% in the corresponding period of the previous year. The decrease in EBIT margin is primarily due to lower product margins and also due to base effect on account of historical high prices witnessed during the first half of FY 2008-09.
The polymer production volumes of PP, PE and PVC decreased by 6% to 2,358 KT. RIL produced 1,342 KT of ethylene and 533 KT of propylene, a decrease of 5% each over the corresponding period of the previous year. Polyester production volume (PFY, PSF and PET) decreased by 3% to 1,135 KT. RIL has maintained its focus on specialty products which account for 55% of PSF and 36% of PFY production. RIL's polyester intermediates (PX, PTA and MEG) production remained stable at 3,445 KT during the period under review.
RELIANCE PETROLEUM LIMITED (RPL):
Reliance Petroleum Limited (RPL) has successfully commenced operations at its complex refinery during the quarter ending 31st December 2008. RPL started its crude processing on 25th December 2008 and achieved successful production of various products. RPL expects to despatch its first parcel of refinery products in January 2009. The initial phase of production has achieved stability. Commissioning activities are nearing completion at several of the secondary processing units. Several support units and utilities such as water, air, nitrogen, steam and power required for the refinery are being operated successfully.
The secondary processing units are under synchronisation and commissioning. In completing the state-of-the-art, globally competitive refinery in just 36 months, from concept to commissioning, the Company has set a new global benchmark for building grass-root refinery of this scale and complexity at a time when many large green-field refinery projects that were announced in the world have been facing significant delays extending to a few years.
RELIANCE RETAIL LIMITED (RRL):
Reliance Retail today operates a total of more than 900 stores pan India with over 4.2 million square feet of trading space. During the quarter, Reliance Retail launched two new formats: Reliance Living Furnishings and Reliance Living Furniture.
Click here to view results.
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