Home / Knowledge / News / Textiles / Reliance Industries revenues up 31.9%

Reliance Industries revenues up 31.9%

23
Apr '12
The biggest private sector company in India – Reliance Industries Ltd (RIL) which has interests from oil and farm to retail, reported record revenues of Rs 3397.92 billion ($66.8 billion), up a staggering 31.9 percent in fiscal 2011-12, from a year earlier.

However, its net profits grew marginally by just 2.2 percent from a year ago to Rs 197.24 billion ($3.9 billion). It also clocked exports of Rs 2080.42 billion ($40.9 billion), which is equivalent to 14% of India's overall exports in the previous fiscal year.

Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Our businesses have delivered industry leading performances. This is a reflection of the quality of our assets and growing demand for our products and services in India and internationally.

He added, “We have created a strong foundation for future growth and are investing in our core upstream and petrochemical businesses in India. Response to our organized retail business has been very encouraging and we continue to expand our footprint by building more stores across verticals, formats and geographies”.

Petrochemical segment:
In March 2012, the petrochemical business of RIL was certified as a “Responsible Care Company” under stringent standards of American Chemistry Council (ACC), USA and in turn became the first Indian company to bag the honour.

During the year ended 31st March 2012, revenue for the petrochemical segment increased by 27.7% from Rs 631.55 billion to Rs 806.25 billion ($ 15.8 billion). Increase in volume accounted for 6.8% growth in revenue and increase of prices accounted for 20.9% growth in revenue. PX and PP were the largest contributors in terms of revenue growth for the year.

During the year, PX and MEG deltas improved due to unplanned shutdowns while PTA deltas suffered due to oversupply and weaker demand from polyester products. PFY and PSF deltas moderated from the record high levels achieved in 4Q FY 2010-11 and were impacted by the weakness in cotton prices. PET deltas improved due to good beverage demand on account of extended warm weather.

Domestic demand for polyester products increased by 2%, primarily due to robust consumption growth for PET. Heavy power shortage in south Indian states is impacting PSF consumption. POY is having steady growth at 3%.

During the year, production of fiber-intermediates (PX, PTA and MEG) increased by 5% to 4.8 million tonnes. Polyester (PFY, PSF and PET) production volumes decreased by 2% to 1.7 million tonnes due to changes in the product mix.

During the year, polymer business saw a mixed trend in terms of product margins with moderate domestic demand across key polymers. Polypropylene (PP), which is the largest part of RIL's polymer portfolio, witnessed margin contraction while PVC deltas improved.

PE deltas continued to feel the impact of the substantial capacity added in Middle East and China over last couple of years.


Must ReadView All

Pic: Ritu Manoj Jethani / Shutterstock.com

Apparel/Garments | On 31st Jul 2021

US firm Steve Madden moves production to Mexico & Brazil from China

As supply chain disruption remains a significant challenge, American...

Pic: GBG USA

Apparel/Garments | On 31st Jul 2021

Apparel & footwear firm GBG USA files for bankruptcy protection

GBG USA, an indirect wholly owned subsidiary of Global Brands Group...

Pic: Shutterstock

Apparel/Garments | On 31st Jul 2021

Asian garment industry market concentration, consolidation rise: ILO

Although Asia's garment market rose in size in value terms before the ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Quality & affordability to affect market acceptability of new fibres

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Textile Industry, Head honchos

Textile Industry
Head honchos

Donating 20,000 N95 masks to hospitals & NGOs

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Andrea Pelissero,

Andrea Pelissero

Located near Milan, Italy, and with 50 years of experience in the textile...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Sandeep Gonsalves & Sarah Gonsalves, Sarah & Sandeep

Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep

Established in 2012, Sarah & Sandeep is a luxury menswear label...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search