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Reliance Industries – Company Overview, History, Products

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Reliance Industries Limited is one of the most successful Indian multinational companies. It currently employs more than 340,000 employees all around the world and it is currently headquartered in Mumbai, Maharashtra. It is currently the largest revenue maker company in India after the Tata Group. The various products and services provided by Reliance Industries include telecommunications textiles, natural gas, petrochemicals, energy & power, television, entertainment, financial services, retail, and petroleum.

The chairman and managing director of Reliance Industries Limited are Mukesh Ambani and the director of the company is his wife Nita Dalal Ambani. Reliance Industries Limited is a publicly traded company and it is currently listed on the Bombay Stock Exchange and the National Stock Exchange. It is currently the single – largest conglomerate in India with a market capitalization of more than 250 billion dollars or 17.5 Lakh Crore Rupees. Reliance Industries Limited generated a revenue of more than 100 billion dollars or 7.9 Lakh Crore Rupees in the financial year 2021.

Reliance Industries Limited is currently ranked as the 104th company among the Fortune 500 world's largest revenue-making companies in the world. Reliance Industries is one of the few companies in India to have annual revenue of more than 100 billion dollars. Since Reliance Industries also performs trade and retail of textiles, petrochemicals, and natural gas, it exports its products to over 100 countries in the world. It is also by far the highest income tax generator for the Government of India.

Reliance Industries – History & Overview:

Reliance Industries Limited was initially founded in 1960 by Dhirubhai Ambani and Champaklal Damani under the name Reliance Commercial Corporations. By 1965, Champaklal Damani ended the partnership and then Dhirubhai became the owner of Reliance by starting his polyester business. Since the polyester business gained success, Dhirubhai Ambani started the new textile business of synthetic fabrics in the next year.

On May 8, 1973, the name of the company was officially changed to Reliance Industries Limited. Reliance filed for its IPO in 1977 on the Bombay stock exchange. In 1979, Sidhpur Mills merged with Reliance Industries to form a polyester yarn business.

By 1991, Reliance expanded itself into the petrochemicals and natural gas business. In 1993, Reliance Petroleum was established through the Hazira petrochemical plant. In 1995, Reliance also entered the telecom industry by establishing Reliance Telecom Private Limited as a joint venture with NYNEX. By 1999, Reliance established its biggest petrochemical plant refinery in Jamnagar, Gujarat which it used to sell LPG cylinders.

In 2002, Reliance set up its new natural gas plant at the Krishna Godavari basin for a large quantity of crude oil. RIL also purchased a stake in the Indian Petrochemicals Corporation Limited (IPCL), which was the largest petrochemical company at that time. By 2006, Reliance launched multiple subsidiaries for power generation, energy production, financial services, and telecommunication services. It also launched retail stores like Reliance Fresh and Reliance digital for the sale of consumer goods.

Reliance entered the broadband services in 2010 by acquiring Infotel Broadband Services. In 2019, Reliance launched its biggest telecommunication service Jio providing cheap 4G services to Indian customers. It is considered to be the most profitable business for Reliance Industries as currently, Jio has the highest market share in the Indian telecom industry. Reliance generated a revenue of more than 10 billion dollars from Jio in 2021. The various services provided under Jio include Jio platforms, Jio fiber, Jio Mart, Jio Cinema, and Jio TV.

Reliance Industries – Products and Services:

The various products and services provided by Reliance Industries are as follows:

Jio – Jio is the largest Telecom company in India as per the market share. Not only telecom services, but it also provides other services like Jio Fiber, Jio Mart, Jio Cinema, and Jio payments bank.

Reliance Retail – Reliance has opened multiple retail stores in various parts of the country like Reliance Fresh, Reliance Digital, and Reliance Fashion which allows customers to purchase goods from them.

Reliance Petroleum – Reliance Petroleum is one of the largest revenue makers for Reliance Industries which includes the generation of petrochemicals and natural gas that is supplied to various countries around the world. It also contributes to generating energy and power production for various industries.

Alok Industries – This is one of the largest textile industries in India that was acquired by Reliance Industries. It exports textiles to various countries in the world.

Mumbai Indians – It is an IPL team franchise owned by Mukesh Ambani and Nita Ambani under Reliance Industries Limited. Mumbai Indians have won the IPL trophy five times under the leadership of captain Rohit Sharma.

News 18 Network – It is the mass media network owned by Reliance Industries of the Network 18 group. It owns multiple TV channels like News 18, ETV, CNBC, MTV, Viacom 18 Studios, etc.

Wrapping Up:

Reliance Industries is one of the largest conglomerate companies in India. It is the largest revenue maker in the country that has diversified its business on multiple fronts like petrochemicals, natural gas, retail, trade, telecommunications, mass media, textiles, and energy production.

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Last Updated : 22 Sep, 2023
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