Reliance bags Maharashtra’s Best Export Performance Award

Mumbai: In recognition of Reliance Industries’ (RIL) outstanding export performance, the Maharashtra state government has selected RIL for the state’s inaugural award for export performance for the financial year 2000-01.

RIL is the largest exporter in India contributing over 5 per cent to the country’s exports. In the financial year 2001-02, RIL exported products valued at Rs 11,200 crore ($2.3 billion). This underscores the world-class quality of RIL products backed by the best technologies the world has to offer, and the company’s global competitiveness boosted by superior logistics capabilities and a highly trained workforce.

RIL primarily manufactures products that are import substitutes, thereby contributing to the savings of precious foreign exchange for the country. RIL contributed Rs 20,169 crore ($4.1 billion) annually towards saving of foreign exchange for the country in the financial year 2001-02.

RIL exports petroleum and petrochemical products to over 100 countries, including the most quality-conscious customers in the US and Europe. RIL’s petroleum exports comprise light distillates (naphtha, motor spirit, propylene, tertiary amyl methyl ether); middle distillates (aviation turbine fuel, high-speed diesel, vacuum gas oil); and heavy distillates (petroleum coke).

RIL’s petrochemical exports comprise polyester (polyester staple fibre, polyester texturised yarn, partially oriented yarn, polyester chips); polyester intermediates (purified terephthalic acid, paraxylene, mono ethylene glycol, di-ethylene glycol, tri-ethylene glycol); polymers (polypropylene, polypropylene value-added products, polyethylene, polyvinyl chloride); chemicals (linear alkyl benzene); orthoxylene; benzene; and fabrics.

Export performance recognition by RIL in the past include the Golden Super Star Trading House status by the Directorate General of Foreign Trade (DGFT), ministry of commerce, Government of India, and awards from the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC).

RIL is India’s largest private sector company on all major financial parameters with a gross turnover of Rs 57,120 crore ($11.7 billion), cash profit of Rs 6,643 crore ($1.4 billion), net profit of Rs 3,243 crore ($665 million), net worth of Rs 27,812 crore ($5.7 billion) and total assets of Rs 56,485 crore ($11.6 billion). RIL has emerged as India’s first private sector company in the reckoning for a place in the Fortune Global 500 list of the world’s largest corporations.

RIL was named among the World’s Most Respected Companies in a list published by Financial Times based on a global survey conducted by PricewaterhouseCoopers. RIL also emerged as the most respected among Indian companies and among the 10 most respected energy and chemical companies in the world.

The Reliance group, founded by Dhirubhai H Ambani (1932-2002), is India’s largest business house with total revenues of Rs 67,500 crore ($13.8 billion), cash profit of over Rs 7,900 crore ($1.6 billion), net profit of over Rs 3,750 crore ($770 million) and exports of Rs 11,400 crore ($ 2.3 billion).

The group’s activities span exploration and production (E&P) of oil and gas, refining and marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and insurance, power, telecom and infocomm initiatives. Reliance emerged as India’s Most Admired Business House for the second successive year in a Taylor Nelson Sofres-Mode (TNS-Mode) survey for 2002.