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RIL's production of PFY, PSF & PET goes up

Jan '07
Reliance Industries Limited (RIL) reported its operating performance for nine months period ended December 31, 2006.

Other expenditure, which also includes conversion costs, selling expenses, sales tax, repairs and maintenance, excise duty on stock and establishment expenses, decreased marginally by 0.3% from Rs 6,620 crore to Rs 6,603 crore (US$ 1,492 million). Operating Profit before other income increased by 32% from Rs. 10,254 crore to Rs. 13,511 crore (US$ 3,053 million). Net operating margin during the nine months period was 17% as compared to 18% in the corresponding period of the previous year. The margin was slightly lower due to higher raw material costs, primarily crude oil.

Other income was lower at Rs. 108 crore (US$ 24 million) against Rs. 596 crore primarily on account of a decrease in interest income due to utilization of surplus funds for investment in Reliance Petroleum Ltd.

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Polyester and Fibre Intermediates
The recent commissioning of 550,000 tonnes per year of new capacity makes Reliance the world's largest producer of polyester fibre and yarn with a combined capacity of 2 million tonnes. Reliance has a domestic market share of 56% in PFY, PSF and PET. During the period under review, RIL's production of PFY, PSF and PET grew by 34% to 1,115,000 tonnes due to commissioning of polyester facilities at Hazira and Patalganga.

The recently commissioned polyester facilities are operating at high utilization rates and production is being absorbed in domestic and international markets. Thrust on speciality products account for 57% and 34% of PSF and PFY production volumes respectively. Production of polyester intermediates (PX, PTA and MEG) at 2,950,000 tonnes increased by 27% as compared to corresponding period of the previous year. RIL commissioned a 730,000 tonnes per annum PTA plant at Hazira in July 06. Reliance's domestic market share in polyester intermediates is 78%.

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