Manya Rathore
Research expert covering India
Reliance Industries Limited - statistics & facts
“Growth is Life”, - living up to its motto Reliance Industry Limited (RIL) ranks as the leading global conglomerate and the largest private sector corporation in India. Set up in 1973, the refining-to-retail conglomerate started as a polyester company in Mumbai. Dhirubhai Ambani, the founder, expanded the business into textiles, gaining popularity under the brand name Vimal. As the textile sector flourished, the company diversified into petrochemicals emerging as a key player in the sector, by the late 90s.
While Ambani’s story is inspiring to the average Indian, his death in 2002 caused the group to split after years of differences between his sons, Mukesh and Anil. The feud between the siblings was the center of public attention. RIL is now managed by Mukesh Ambani, the richest man in Asia.
The brand’s entry into the retail sector began with Reliance Fresh in 2006. In the next decade, Reliance Retail recorded exponential growth in revenues, capturing market share from the unorganized sector, ranging from fashion to food.
A significant disruption came from the conglomerate’s telecom division. Registered in Gujarat, Reliance Jio entered the national stage in 2016 with 4G services, acquiring 16 million subscribers within its first month of operations. Currently, it is the leader among mobile network operators in India with over 400 million wireless subscribers. It is now on the path to conquering the digital services market, propelled by the government’s Digital India initiative. In the future, Jio platforms are expected to focus on developing India-specific AI models and AI-powered solutions across domains.
RIL is also expected to strengthen its presence in the consumer durables segment and has partnered with several industry players who produce for other companies. The brand unveiled its latest offering – Wyzr brand air coolers. From groceries to personal care to mobile phones to fuel to media and entertainment, Reliance has solidified its presence in the consumption routine of an average Indian. Its entry into financial services, a rather competitive space, is also being watched closely. Although O2C has been the company’s highest revenue-grossing business, the company expects that in the next two years earning growth will be driven by more customer-facing businesses like telecoms and retail.
From fuel to retail and digital: Most successful businesses
Reliance Industry Limited’s major revenue grosser is its Oil-to-Chemicals (O2C) business followed by retail and digital services. The O2C business portfolio spans transportation fuels, polymers, elastomers, intermediates and polyesters. As the world moves away from fossil fuels, Reliance envisions its high revenue grossing O2C business, to transition to a sustainable, green, and circular, chemicals and materials business.The brand’s entry into the retail sector began with Reliance Fresh in 2006. In the next decade, Reliance Retail recorded exponential growth in revenues, capturing market share from the unorganized sector, ranging from fashion to food.
A significant disruption came from the conglomerate’s telecom division. Registered in Gujarat, Reliance Jio entered the national stage in 2016 with 4G services, acquiring 16 million subscribers within its first month of operations. Currently, it is the leader among mobile network operators in India with over 400 million wireless subscribers. It is now on the path to conquering the digital services market, propelled by the government’s Digital India initiative. In the future, Jio platforms are expected to focus on developing India-specific AI models and AI-powered solutions across domains.
Diversifying with the times
The conglomerate is reinventing itself by venturing into new markets and areas. It owns six cricket teams, including the famous Mumbai Indians competing in the Indian Premier League. Within the sports business, Reliance Retail is planning to launch a sports format rivaling French competitor Decathalon in the athleisure market.RIL is also expected to strengthen its presence in the consumer durables segment and has partnered with several industry players who produce for other companies. The brand unveiled its latest offering – Wyzr brand air coolers. From groceries to personal care to mobile phones to fuel to media and entertainment, Reliance has solidified its presence in the consumption routine of an average Indian. Its entry into financial services, a rather competitive space, is also being watched closely. Although O2C has been the company’s highest revenue-grossing business, the company expects that in the next two years earning growth will be driven by more customer-facing businesses like telecoms and retail.
