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Company: Reliance Industries Limited ( RIL ) India
Company Division/Group: Reliance Industries Limited ( RIL )
Company Description: RIL is global major in exploration / production (E&P) of oil / gas, refining / marketing, petrochemicals (olefins , polymers , fiber intermediates , polyester), textiles, financial / insurance services , power , telecom and infocom . Exports products to more than 100 countries , accounts 3.5% of India’s GDP , globally ranks amongst top 150 in net profit and top 50 in shareholder value creation .
Nomination Category: Company, Office & Product Awards Categories
Nomination Sub Category: Best Overall Company
Nomination Title: Reliance Industries Limited ( RIL )
1. Tell the story about what this nominated company achieved in the past year (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:
Reliance Story :
Founder Chairman Dhirubhai H Ambani’s vision of creating value for nation led to
formation of Reliance in 1977 , with famous Vimal Brand of Textiles in India.
Since then it has been a diligent effort by a dedicated team to integrate businesses
vertically and horizontally across supply chain delivering superior stakeholder
value to become Fortune 500 company in short span of 27 years .
Businesses :
Refinery (56 % ) and Petrochemicals ( 41 % ) accounted for most of 2003 - 2004
revenues . Products find wide applications in transportation fuels , agriculture,
clothing, consumer goods, and electronics..
Accomplishments :
In 2004 , with continual improvements , Reliance maintained its operating margins
and consistently improved its financial performance despite upheavals in
commodity business cycles and emerged as 'India's biggest wealth creator' in
private sector in a study by Business Today -Stern Stewart .. Reliance was
recognized as Petrochemical Company of year by Platts Global Energy Awards ,
International Refiner of year by Hart Downstream Energy Services and won
Malcolm Baldridge Criteria based International Asia Pacific Quality Award .
Past year :
Reliance’s success story is based on “Growth is life “ philosophy . In 2004
Reliance became India’s first private sector company to cross US$ 1 Billion mark
in net profits , increase of 26 % .
Reliance discovered world’s biggest gas find in India in 2002 and .followed with
second exploratory phase in 2004 of challenging deep water drilling in Krishna
Godavari basin , Yemen / Oman blocks .
Reliance’s refinery , world’s 3rd largest recorded 109 % capacity utilization .
280 retail outlets of Pan India Petroleum Marketing network equipped with state of art supply chain and fleet management systems were commissioned .
In 2004 , Reliance’s major petrochemical plants operated at 101 per cent capacity
utilization. Global Benchmarking for 2003 of its 1.1 million MT Naptha Cracker by
M/s Soloman Associates reports Reliance topping net cash margins globally .
Acquisition of European Polyester major M/s Trevira has given global foothold .
State-of-the-art Reliance Technology Center (RTC) was commissioned in strategic
R&D alliance with DuPont Polyester Technologies.
Within 7 months from launch of Infocomm services in 2003 , Reliance became
largest mobile service operator with 10 million subscribers currently . In 2004 ,
100 percent acquisition of undersea cable company FLAG telecom led to global
footprint of Infocom business to 20 world business centers and 75 % of global
population .
Outlook :
Over next 2 years , significant investments are planned in petrochemicals
businesses adding two million tones of additional capacities , increase of 15 – 20
% improving global ranking’s to world’s largest producer of Polyester , 3rd
largest producer of Pure Terephthalic Acid , World’s third largest producer of Paraxylene and 5th largest producer of MEG .
Thrust in Exploration and Production , Infocom , Telecom , Energy , Life sciences
is envisaged constituting future businesses .
2. List hyperlinks to any online news stories, press releases, or other documents that support the claims made in the section above. IMPORTANT: Begin each link with http://, and enclose each link in square brackets; for example, [http://www.youraddress.com]:
Company Websites :
http://www.ril.com/eportal/home.jsp
http://www.relbio.com/
http://www.relianceinfo.com/Infocomm/index.html
Reports :
Annual Report 2003-2004
http://www.ril.com/investor/investor_annualrep.html
Nine month results 31st Dec 2004
http://www.ril.com/eportal/media/pr_210105.html
10 yrs highlights :
http://www.ril.com/downloads1/investor_highlights1.pdf
Press Releases :
2003 : http://www.ril.com/eportal/media/PressRelease2003.html
2004 : http://www.ril.com/eportal/media/PressRelease2004.html
2005 : http://www.ril.com/eportal/media/NCheck.jsp@id=19&page_id=72
http://www.aapg.org/explorer/2003/01jan/india.cfm
3. Provide a brief (up to 100 words) biography about the leader of this nominated company:
Mr Mukesh Ambani : Chairman and Managing Director
Education :
Bachelor of Chemical Engineering from the University of Bombay , pursued MBA
from Stanford University, USA.
Career :
Since 1981 , initiated backward integration from textiles into polyester fibres and
petrochemicals. Led creation of world's largest grassroots refinery and is
currently involved in rolling out world scale future businesses in Infocom / Telecom , a pan-India petroleum retail network and a research-led life sciences initiative .
Ranks 42nd among 'World's Most Respected Business Leaders' .
Further Details : http://www.ril.com/aboutus/about_mukesh.html
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