RELIANCE INDUSTRY

PROJECT REPORT
ON
RELIANCE INDUSTRIES

SUBMITTED BY:
STELLA BALASUBRAMANIAM

MASTER OF COMMERCE (PART-I)

ADVANCED COST ACCOUNTING

(SEM-I)
2014-2015

PROJECT GUIDE:PROF.NEELAM SHAIKH

K.G JOSHI COLLEGE OF ARTS & N.G.BEDEKAR

COLLEGE OF COMMERCE.

RELIANCE INDUSTRY

VIDYA PRASARAK MANDAL, THANE

K. G. JOSHI COLLEGE OF ARTS &
N. G. BEDEKAR COLLEGE OF COMMERCE
CERTIFICATE
OF
PROJECT WORK
This is certifying that. / Ms.

of

M.Com. (Advanced Accountancy) Part.: I Semester: 1ST Roll No. : 11

undertaken

&

completed

the

project

work

has
titled

".During the academic

year 2014-2015. Under the guidance of Mr. / Ms.

Prof.

Submitted on _____________ to this college in

fulfillment of the curriculum of MASTER OF COMMERCE (ADVANCED

ACCOUNTANCY).
UNIVERSITY OF MUMBAI.
This is a bonafide project work & the information presented is True &
original to the best of our knowledge and belief .

PROJECT GUIDE

EXTERNAL EXAMINER

RELIANCE INDUSTRY

DECLARATION:-

I Ms. STELLA BALASUBRAMANIAM student of K.G. JOSHI COLLEGE

OF ARTS & N.G.BEDEKAR COLLEGE OF COMMERCE. (SEM-I,) HERE
BY DECLARE THAT I HAVE COMPLETED THIS PROJECT ON
RELIANCE INDUSTRIES
In the academic year 2014-2015.

The information submitted is true and original to the best of my knowledge.

DATE:-

Student signature

STELLA BALASUBRAMANIAM

PLACE: - THANE

RELIANCE INDUSTRY

ACKNOWLEDGEMENT:I express my grateful thanks to project guide Prof.NEELAM SHAIKH

For her timely guidance and help rendered at every stage of the project work.

I would also like to thank my friends who were also a great support while
working on the project.

I also wish to express my regards to the librarian for her co-operation in

providing me with necessary reference materials.

I also express my thanks to faculty members and for co-operation and help
given in completing this project.

RELIANCE INDUSTRY

INDEX:-

SR.NO

TOPIC

PAGE
NO.

1.

INTRODUCTION.

2.

COMPANY

6-8

PROFILE

OF

RELIANCE 9-12

INDUSTRY.
3.

VISION, MISSION & OBJECTIVES.

13

4.

HISTORY.

14-17

5.

AWARDS & RECOGNITION.

18-26

6.

CONSOLIDATED FINANCIAL STATEMENT.

27-28

7.

ADVANTAGES

&

DISADVANTAGES

OF 29-31

CONSOLIDATED BALANCE SHEET.

8.

IMPORTANCE

&

REASON

FOR 32-36

CONSOLIDATED BALANCE SHHET.

9.

STEPS

FOR

BALANCE

PREPARING
SHEET

OF

CONSOLIDATED 37-38
THE

HOLDING

COMPANY & THE SUBSIDIARY COMPANY.

10.

CONSOLIDATED BALANCE SHEET.

39-40

11.

CONCLUSION.

41

12.

BIBLOGRAPHY.

42

RELIANCE INDUSTRY

INTRODUCTION
The Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest
business house. The Group's activities span exploration and production of oil and gas,
refining and marketing, petrochemicals, textiles, financial services and insurance, power,
telecom and Infocomm initiatives. The Group exports its products to more than 100 countries
the world over. Reliance Group revenue is equivalent to about 3.5% of India's GDP. The
Group contributes nearly 10% of the country's indirect tax revenues and over 6% of India's
exports.

The Reliance Group Companies, acknowledged as one of the best-run companies in the
world, include: Reliance Industries Limited, Reliance Capital Limited, Reliance Industrial
Infrastructure Limited, Reliance Telecom Limited, Reliance Infocomm Limited, Reliance
General Insurance Company Limited, Indian Petrochemicals Corporation Ltd. and Reliance
Energy Limited. The companys refinery at Jamnagar accounts for over 25% of India's total
refining capacity and their plant at Hazira is the biggest chemical complex in India.

The Reliance Group was founded by the legendary Dhirubhai H. Ambani. He has been one
among the select Forbes billionaires and has also figured in the Sunday Times list of top 50
businessmen in Asia. In 1975, the company expanded into textiles. Dhirubhai Ambani
introduced equity cult in India when Reliance went public with IPO in 1977. Since the launch
of its IPO RIL has expanded rapidly and integrated backwards into other industry sectors,
most notably the production of petrochemicals and the refining of crude oil. Dhirubhai led the
6

RELIANCE INDUSTRY
evolution as a global leader in the materials and energy value chain businesses. Today,
Reliance Group's activities range from exploration and production of oil and gas, petroleum
refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and
chemicals) to textiles and retail. Reliance enjoys global leadership in its businesses. It is the
largest polyester yarn and fibre producer in the world and among the top five to ten producers
in the world in major petrochemical products. Presently, Reliance Group has more than
25,000 employees on its rolls and exports products in excess of US$ 15 billion to more than
100 countries in the world.

THE LEGENDARY DHIRUBHAI .H. AMBANI

Dhirajlal Hirachand Ambani, also known as Dhirubhai (28 December 1932, - 6 July 2002)
was an Indian rags-to-riches business tycoon who founded Reliance Industries in Mumbai.
Ambani took his company (Reliance) public in 1977, and by 2007 the combined fortune of
the family (sons Anil& Mukesh and daughters Dipti & Nina) was 60 billion dollars, making
the Ambani the richest family in the world.
He moved to Aden, Yemen, when he was 16 to work with A. Besse & Co. and eventually
returned to India and started "Majin", which was to import polyester yarn and export spices,
in partnership with his cousin, Champak Lal Damani.

Dhirubhai was a known risk taker and he believed in building inventories, anticipating a price
rise, and making profits. Ambani's net worth was estimated at about Rs. 10 lakh by late
1970s. He is credited with starting the equity cult in India. More than 58,000 investors from
various parts of India subscribed to Reliance's IPO in 1977. In 1986 The Annual General
Meeting of Reliance Industries was held in Cross Maidan, Mumbai and was attended by more
than 350,000 shareholders and the Reliance family.

In 1982, Reliance Industries came up against a rights issue regarding partly convertible
debentures. It was rumoured that company was making all efforts to ensure that their stock
prices did not slide an inch. Sensing an opportunity, a bear cartel which was a group of stock
brokers from Calcutta started to short sell the shares of Reliance. To counter this, a group of
stock brokers till recently referred to as "Friends of Reliance" started to buy the short sold
7

RELIANCE INDUSTRY
shares of Reliance Industries on the Bombay Stock Exchange. After this incident, many
questions were raised by his detractors and the press. In response, the then finance
minister, Pranab Mukherjee informed the house that a Non-Resident Indian had invested up
to Rs. 22 Crores in Reliance during 1982-83. The interesting factor was that all the promoters
or owners of these companies had a common surname Shah. An investigation by the Reserve
Bank of India in the incident did not find any unethical or illegal acts or transactions
committed by Reliance or its promoters
Over time, Dhirubhai diversified his business with the core specialisation being
in petrochemicals and

additional

technology, energy, power,

retail,

interests
textiles,

in telecommunications, information

infrastructure services, capital

markets,

and logistics.

He has been accused of acting unethically; having manipulated government policies to suit
his own needs, and has been known to be a king-maker in government elections. Although
most media sources tend to speak out about business-politics nexus, the Ambani house has
always enjoyed more protection and shelter from the media storms that sweep across the
country. A film, Guru (2007) directed by Mani Ratnam, alleged to be inspired by the life of
Dhirubhai Ambani was released on 12 January 2007.

RELIANCE AFTER DHIRUBHAI:The Reliance Empire was split between the Ambani brothers, Mukesh Ambani getting RIL
and IPCL & his younger sibling Anil Ambani heading Reliance Capital, Reliance Energy and
Reliance Infocomm. The entity headed by Mukesh Ambani is referred to as the Reliance
Industries Limited whereas Anil's Group has been renamed Anil Dhirubhai Ambani Group
(ADAG).His daughter Nina Kothri along with her husband B H Kothari started Java green
in 2004, a coffee retail chain along with Reliances Web World stores.

RELIANCE INDUSTRY

COMPANY PROFILE OF RELIANCE INDUSTRIES:Reliance

Industries

Limited

(RIL) is

an

Indian conglomerate holding

company headquartered in Mumbai, Maharashtra, India. The company operates in five major
segments: exploration and production, refining and marketing, petrochemicals, retail and
telecommunications.
The group is present in many business sectors across India including petrochemicals,
construction, communications, energy, health care, science and technology, natural resources,
retail, textiles, and logistics.
RIL is the second-largest publicly traded company in India by market capitalization and is the
second largest company in India by revenue after the state-run Indian Oil Corporation. The
company is ranked No. 99 on the Fortune Global 500 list of the world's biggest corporations,
as of 2013. RIL contributes approximately 14% of India's total exports.
Reliance Group, founded by Dhirubhai H. Ambani, is India's largest private sector
enterprise, with businesses in the energy and materials value chain. Group's annual revenues
are in excess of $ 30 billion. The flagship company, Reliance Industries Limited, is a Fortune
Global 500 company and is the largest private sector company in India.
Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global
leader in the materials and energy value chain businesses. It was in 1957 when he returned to
India after a stint with A.Besse& Co., Aden he started yarn trading business from a small 500
sq.ft. Office in Masjid Bunder, Mumbai. He set up his brand new mill in Naroda, Gujarat. In
1996 Reliance went on to become the biggest textile brand Only Vimal. In 1977 the
Reliance Textile Industries came with an IPO which was oversubscribed seven times.
Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre
producer in the world and among the top five to ten producers in the world in major
petrochemical products.
Starting as a small textile company, Reliance has in its journey crossed several milestones to
become a Fortune 500 company in less than 3 decades.

RELIANCE INDUSTRY
Reliance Industries Limited operates world-class manufacturing facilities across the country
at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh,
Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara.
Allahabad Manufacturing Division located in Allahabad, Uttar Pradesh, is spread over 105
acres. It is equipped with polymerization and continuous polymerization facilities.
Barabanki Manufacturing Division located near Luck now, Uttar Pradesh, is spread over
106 acres. It manufactures Black Fibre.
Dahej Manufacturing Division located near Bharuch, Gujarat, is spread over 1,778 acres. It
comprises of an ethane / propane recovery unit, a gas cracker, a caustic chlorine plant and 4
downstream plants, which manufacture polymers and fibre intermediates.
Dhenkanal Manufacturing Division located in Baulpur, Orissa, is spread over 227 acres. It
manufactures polyester staple fibre.
Hoshiarpur Manufacturing Division located in Hoshiarpur, Punjab, is spread over 69 acres.
It manufactures a wide range of PSF, PFF, POY and polyester chips.
Hazira Manufacturing Division located near Surat, Gujarat, is spread over 700 acres. It
comprises of a Naptha cracker feeding downstream fibre intermediates, plastics and polyester
plants.
Jamnagar Manufacturing Division located in Jamnagar, Gujarat, is spread over 7,400
acres. It comprises of a petroleum refinery and associated petrochemical plants. The refinery
is equipped to refine various types of crude oil (sour crude, sweet crude or a mixture of both)
and manufactures various grades of fuel from motor gasoline to Aviation Turbine Fuel
(ATF). The petrochemicals plants produce plastics and fibre intermediates.
Kurkumbh Manufacturing Division located near Pune, Maharashtra, is spread over 34
acres. It manufactures fibre intermediates.
Nagothane Manufacturing Division located in Raigad, Maharashtra, is spread over 1,860
acres. It comprises of an ethane and propane gas cracker and five downstream plants for the
manufacture of polymers, fibre intermediates and chemicals.

10

RELIANCE INDUSTRY
Nagpur Manufacturing Division located in Nagpur, Maharashtra, is spread over 368 acres.
It manufactures polyester filament yarn, dope-dyed specialty products of different ranges,
fully drawn yarn and polyester chips.
Naroda Manufacturing Division located near Ahmadabad, Gujarat, is RILs first
manufacturing facility and is spread over 150 acres. This synthetic textiles and fabrics
manufacturing facility manufactures and markets woven and knitted fabrics for home textiles,
synthetic and worsted suiting and shirting, ready to wear garments and automotive fabrics.
Patalganga Manufacturing Division located near Mumbai, Maharashtra, is spread over 200
acres. It comprises of polyester, fibre intermediates and linear alklyl benzene manufacturing
plants.
Silvassa Manufacturing Division located in the Union Territory of Dadra and Nagar Haveli,
is spread over 127 acres. It manufactures a wide range of specialty products such as Recron
Stretch, Linen Like, Melange, Thick-n-thin and Bi-shrinkage yarns.
Vadodara Manufacturing Division located in Vadodara, Gujarat, is spread over 1,263
acres. It comprises of a Naptha cracker and 15 downstream plants for the manufacture of
polymers, fibers, fibre intermediates and chemicals.
The company works under different business segments:

Exploration and Production

Petroleum Refining and Marketing

Petrochemicals

Textiles

Retail

Products and brands offered by the company:

Crude oil and natural gas

LPG

Propylene

Naphtha

Gasoline
11

RELIANCE INDUSTRY

Jet/Aviation Turbine Fuel

Superior Kerosene Oil

High Speed Diesel

Sulphur

Petroleum Coke

Polypropylene

High Density Polyethylene

Low Density Polyethylene

Linear Low Density Polyethylene

Polyvinyl Chloride

Poly Olefin

Suitings ,Shirtings,Readymade Garments

Furnishing fabrics

Day curtains

Automotive upholstery

Suitings

Ready-to-stitch

Take away fabric

Fleet management services

Highway hospitality services

Vehicle care services

Linear Alkyl Benzene

Paraxylene

Purified Terephthalic Acid

Mono Ethylene Glycol

Staple Fibre

Filament Yarn

Textures yarn

Twisted yarn

Moisture management yarn

Quality certified sleep products

Polyethylene terephthalate

12

RELIANCE INDUSTRY

VISION, MISSION & OBJECTIVES OF RELIANCE INDUSTRY:-

VISION:To lead the industry while generating value to the stakeholders, be the pioneer in setting
ethical standard and be everyone's investor.

MISSION:To lead the industry by providing innovative financial products and services
To value to the shareholders with total satisfaction
To establish "customer-first" business strategy
To be a social responsible investor by making investment only in desirable industry
Provide employees with motivating work environment, opportunities for learning and career
development, competitive compensations and equal opportunities.

OBJECTIVE:Create synergetic effect by creating high quality and diversified portfolio

Provide diversified financial services with focused people
Appreciate uniqueness of each customer's requirements and serve the customers with product
flexibility
Diversification of sources of fund
Enhance corporate value through sustained growth.
The Shipping Corporation of India Ltd.

13

RELIANCE INDUSTRY

HISTORY:1960 1980
The company was co-founded by Dhirubhai Ambani and his cousin Champaklal Damani in
1960s as Reliance Commercial Corporation. In 1965, the partnership was ended and
Dhirubhai continued the polyester business of the firm. In 1966, Reliance Textiles Industries
Pvt Ltd was incorporated in Maharashtra. It established a synthetic fabrics mill in the same
year at Naroda in Gujarat. In 1975, company expanded its business into textiles, with
"Vimal" becoming its major brand in later years. The company held its Initial public
offering (IPO) in 1977. The issue was over-subscribed by seven times. In 1979, a textiles
company Sidhpur Mills was amalgamated with the company. In 1980, the company expanded
its polyster yarn business by setting up a Polyester Filament Yarn Plant in Raigad,
Maharashtra with financial and technical collaboration with E. I. du Pont de Nemours & Co.,
USA.

1981 2000
In 1985, the name of the company was changed from Reliance Textiles Industries Ltd. to
Reliance Industries Ltd. During the years 1985 to 1992, the company expanded its installed
capacity for producing polyster yarn by over 145,000 tonnes per annum.The Hazira
petrochemical plant was commissioned in 199192. In 1993, Reliance turned to the overseas
capital markets for funds through a global depositary issue of Reliance Petroleum. In 1996, it
became the first private sector company in India to be rated by international credit rating
agencies. S&P rated BB+, stable outlook, constrained by the sovereign ceiling. Moody's rated
Baa3, Investment grade, constrained by the sovereign ceiling in the year 199596, the
company entered the telecom industry through a joint venture with NYNEX, USA and
promoted Reliance Telecom Private Limited in India. In 199899, RIL introduced packaged
LPG in 15 kg cylinders under the brand name Reliance Gas. During 19982000, the company
completed setup of integrated petrochemical complex at Jamnagar in Gujarat.

14

RELIANCE INDUSTRY

2001
In 2001, Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest
companies in terms of all major financial parameters. In 200102, Reliance Petroleum was
merged with Reliance Industries. In 2002, Reliance announced India's biggest gas discovery
(at the Krishna Godavari basin) in nearly three decades and one of the largest gas discoveries
in the world during 2002. The in-place volume of natural gas was in excess of 7 trillion cubic
feet, equivalent to about 1.2 billion barrels of crude oil. This was the first ever discovery by
an Indian private sector company. In 200203, RIL purchased a majority stake in Indian
Petrochemicals Corporation Ltd. (IPCL), India's second largest petrochemicals company,
from Government of India. IPCL was later merged with RIL in 2008. In the years 2005 and
2006, the company reorganized its business by demerging its investments in power
generation and distribution, financial services and telecommunication services into four
separate entities In 2006, Reliance entered the organized retail market in India with the
launch of its retail store format under the brand name of 'Reliance Fresh. By the end of 2008,
Reliance retail had close to 600 stores across 57 cities in India. In 2010, Reliance entered
Broadband services market with acquisition of Infotel Broadband Services Limited, which
was the only successful bidder for pan-India fourth-generation (4G) spectrum auction held by
Government of India. In the same year, Reliance and BP announced a partnership in the oil
and gas business. BP took a 30 per cent stake in 23 oil and gas production sharing contracts
that Reliance operates in India, including the KG-D6 block for $7.2 billion. Reliance also
formed a 50:50 joint venture with BP for sourcing and marketing of gas in India. In 2012,
RIL set up a joint venture with Russian Company Sibur for setting up a Butyl rubberplant
in Jamnagar, Gujarat. The plant is scheduled to be operational in 2015. Presently, Vivek
Lall is the President and CEO of New Ventures in the Chairmans Office at Reliance
Industries Limited.

15

RELIANCE INDUSTRY

MAJOR SUBSIDIARIES AND ASSOCIATES:On 31 March 2013, the company had 123 subsidiary companies and 10 associate companies.

Reliance Retail is the retail business wing of the Reliance Industries. In March 2013, it
had 1466 stores in India. It is the largest retailer in India. Many brands like Reliance,
Reliance Footprint, Reliance Time Out, Reliance Digital, Reliance Wellness, Reliance
Trends, Reliance AutoZone, Reliance Super, Reliance Mart, Reliance iStore, Reliance
Home Kitchens, Reliance Market (Cash n Carry) and Reliance Jewel come under the
Reliance Retail brand. Its annual revenue for the financial year 201213 was 108
billion (US$1.8 billion) with an EBITDA of 780 million (US$13 million).

Reliance

Life

Sciences works

around

medical,

plant

and

industrial biotechnology opportunities. It specializes in manufacturing, branding, and

marketing Reliance Industries' products in bio-pharmaceuticals, pharmaceuticals, clinical
research

services, regenerative

medicine, molecular

medicine,

novel

therapeutics, biofuels, plant biotechnology, and industrial sectors of the medical business
industry.

Reliance Institute of Life Sciences (RILS), established by Dhirubhai Ambani

Foundation, is an institution offering higher education in various fields of life
sciences and related technologies.

Reliance Logistics is a single-window company selling transportation, distribution,

warehousing, logistics, and supply chain-related products, supported by in-house
telematics and telemetry solutions. Reliance Logistics is an asset based company with its
own fleet and infrastructure. It provides logistics services to Reliance group companies
and outsiders. Merged content from Reliance Logistics to here. See Talk: Reliance
Industries Merge proposals.

Reliance Clinical Research Services (RCRS), a contract research organization (CRO)

and wholly owned subsidiary of Reliance Life Sciences, specializes in the clinical
research services industry. Its clients are primarily pharmaceutical, biotechnology and
medical device companies.

Reliance Solar, the solar energy subsidiary of Reliance, was established to produce and
retail solar energy systems primarily to remote and rural areas. It offers a range of
products based on solar energy: solar lanterns, home lighting systems, street lighting
16

RELIANCE INDUSTRY
systems, water purification systems, refrigeration systems and solar air conditioners
Merged content from Reliance Solar to here. See Talk: Reliance Industries Merge
proposals.

Relicord is a cord blood banking service owned by Reliance Life Sciences. It was
established in 2002. It has been inspected and accredited by AABB, and also has been
accorded a license by Food and Drug Administration (FDA), Government of India.

Reliance Jio Infocomm (RJIL), previously known as Infotel Broadband, is a broadband

service provider which gained 4G licenses for operating across India. Now it is wholly
owned by RIL for 48 billion (US$790 million). Sandip Das, former ceo of Maxis
Malaysia, is the current group president of Reliance Jio Infocomm.

Reliance Industrial Infrastructure Limited (RIIL) is an associate company of RIL.

RIL holds 45.43% of total shares of RIIL It were incorporated in September 1988 as
Chembur Patalganga Pipelines Limited, with the main objective being to build and
operate cross-country pipelines for transporting petroleum products. The company's name
was subsequently changed to CPPL Limited in September 1992, and thereafter to its
present name, Reliance Industrial Infrastructure Limited, in March 1994. RIIL is mainly
engaged in the business of setting up and operating industrial infrastructure. The
company is also engaged in related activities involving leasing and providing services
connected with computer software and data processing. The company set up a 200millimetre diameter twin pipeline system that connects the Bharat Petroleum refinery at
Mahul, Maharashtra, to Reliance's petrochemical complex at Patalganga, Maharashtra.
The pipeline carries petroleum products including naphtha and kerosene. It has
commissioned facilities like the supervisory control and data acquisition system and the
cathodic protection system, a jack well at River Tapi, and raw water pipeline system
aphasia. The infrastructure company constructed a 71,000 kilo-liter petrochemical
product storage and distribution terminal at the Jawaharlal Nehru Port Trust (JNPT) Area
in Maharashtra.

17

RELIANCE INDUSTRY

AWARDS AND RECOGNITION:

International Refiner of the Year in 2013 at the HART Energys 27th World Refining &
Fuel Conference. This is the second time that RIL has received this Award for its
Jamnagar, the first being in 2005.

According to survey conducted by Brand Finance in 2013, Reliance is the second most
valuable brand in India.

The Brand Trust Report, 2013 has ranked 'Reliance' as the 7th most trusted brand in
India.

RIL was certified as 'Responsible Care Company' by the American Chemistry Council in
March, 2012.

RIL was ranked at 25th position across the world, on the basis of sales, in the ICIS Top
100 Chemicals Companies list in 2012.

RIL was awarded the National Golden Peacock Award 2011 for its contribution in the
field of corporate sustainability.

In 2009, Boston Consulting Group (BCG) named Reliance Industries as the world's fifth
biggest 'sustainable value creator' in a list of 25 top companies globally in terms of
investor returns over a decade.

The company was selected as one of the world's 100 best managed companies for the
year 2000 by Industry Week magazine.

From 1994 to 1997, the company won National Energy Conservation Award in the
petrochemical sector.

18

RELIANCE INDUSTRY

GROWTH THROUGH RECOGNITION:Reliance has merited a series of awards and recognitions for excellence for businesses and
operations.

LEADERSHIP:

Shri Mukesh Ambani, Chairman & Managing Director, RIL, has been nominated to a
'key advocacy group of Millennium Development Goals', whose mandate includes
finding ways to fight socio-economic evils such as poverty, by the United Nations in
2010. Shri Ambani is the only Indian to be a part of the MDG Advocacy Group that
comprises eminent international personalities.

Shri Mukesh Ambani has been re-elected as Vice Chairman of the Business Council
for Sustainable Development's (WBCSD) Executive Committee for a second
consecutive term in 2010.

The Foundation Board of the World Economic Forum (WEF) elected Shri Mukesh
Ambani on its Board. WEF's mission is to improve the state of the world and the
elected board members make valuable contributions to this mission through their
involvement.

Shri Mukesh Ambani received the prestigious 'Dwight D Eisenhower Global

Leadership Award' at the Business Council for International Understanding's Annual
Global Awards Gala in 2010.

The Asia Society, New York presented the 'Global Vision Award' to Shri Mukesh
Ambani, honoring global leaders who help promote understanding between Asians
and Americans in 2010.

19

RELIANCE INDUSTRY

Shri Mukesh Ambani received the NDTV Profit Business Leadership Award 2010
from the Finance Minister, Government of India in 2010.

The senior editors of Financial Chronicle unanimously voted Shri Mukesh Ambani as
'Businessman of the Year for 2010'.

Shri PMS Prasad was bestowed with the "Outstanding Achievement Natural Gas"
Award at the OCEANTEX 2010.

20

RELIANCE INDUSTRY

PROJECT MANAGEMENT:E&P Division received the Petrotech-2010 Special Technical Award in the 'Project
Management' category for completion of their Krishna Godavari Gas project ahead
of schedule.

HEALTH , SAFETY & ENVIRONMENT:

Allahabad Manufacturing Division received a rating of 90% for its environmental

initiatives from British Safety Council in 2010.

Barabanki Manufacturing Division received '5 Star Rating on BSC Environment' from
British Safety Council in 2010.

Dahej Manufacturing Division received 'Greentech Environment Excellence Award

2010 - Gold' for its excellence in environment practices from Greentech Foundation
in 2010.

Dahej Manufacturing Division received the 'National Award for the Prevention of
Pollution in Petrochemicals Sector' for its excellence in environment practices from
the Ministry of Environment & Forests, Government of India, in 2010.

Dahej Manufacturing Division received "Our Cup of Joy India's Best Practices on
Water Confederation of Indian Industry (CII) October 2010" Award for the Best
practice of water conservation of "Utilizing Cooling Tower Blow Down water for
Irrigation Purpose".

Hazira Manufacturing Division received the DuPont Safety Award for outstanding
initiatives towards workplace safety enhancements and accident prevention in 2010,
thus making RIL the first Indian / Asian company to win this award.

Hazira Manufacturing Division received the British Safety Council's (BSC), Five Star
Environment Award for its "beyond compliance" initiatives, best environmental
21

RELIANCE INDUSTRY
practices, innovations and resource conservation efforts in 2010.

Hazira Manufacturing Division won the UK Energy Institute's Safety Award for
'Road Safety TRUST Programme' in 2010, making RIL the first Indian / Asian
company to win this award.

Hazira Manufacturing Division won the FGI Award for Excellence in Environmental
Pollution Abatement and Preservation in 2010.

Hazira Manufacturing Division won CII's Best Environmental Practice Award under
"Most Innovative Project" and "Innovative Project" category in January 2011.

Hoshiarpur Manufacturing Division, for four consecutive years in a row won the
'State Safety Award' from Punjab Industrial Safety Council & Chief Inspector of
Factories, Punjab in 2011.

Jamnagar Manufacturing Division Domestic Tariff Area (DTA) Refinery received the
'Golden Peacock Award for Occupational Health & Safety' for pace setting
performance in OH and Safety in 2010.

Jamnagar Manufacturing Division DTA Refinery received 'Safety Innovation Award'

from Safety & Quality Forum of Institute of Engineers (India).

Jamnagar Manufacturing Division DTA Refinery won the "Greentech Platinum

Award (2010)" Safety Category, in Petroleum Refinery Sector for its outstanding
Achievement in Safety Management.

Jamnagar Manufacturing Division has been granted by The National Accreditation

Board for Laboratories (NABL), Ministry of Science & Technology; Government of
India, "NABL accreditation" based on ISO 15189: 2007 for the DAOH & FWC
Medical Laboratory.

Jamnagar Manufacturing Division Special Economic Zone (SEZ) Refinery received '5
Star Award for Health & Safety' from British Safety Council for sustained
performance in Health & Safety in 2010.

Jamnagar Manufacturing Division SEZ Refinery has won the prestigious 'Greentech

22

RELIANCE INDUSTRY
Environment Excellence Award 2010' in Gold Category in Petroleum Refinery Sector
for its best practices in Environment Management.

Jamnagar Manufacturing Division SEZ Refinery has been selected as the winner of
the "10th Annual Greentech Safety Award 2011", in Platinum Category in the
Petroleum Refinery Sector.

Nagothane Manufacturing Division received the "Vana Shree Award" from the State
Government of Maharashtra in 2010.

Nagpur Manufacturing Division received the 'Sword of Honour' from the British
Safety Council in 2010.

Vadodara Manufacturing Division received the CII Environmental Best Practice

Award in 2011.

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RELIANCE INDUSTRY

ENERGY& WATER CONSERVATION/EFFICIENCY:

Hazira Manufacturing Division won the 'Excellent Energy Efficient Unit Award for
FY 2009-10' from CII in 2010.

Dahej Manufacturing Division bagged the 'Excellent Energy Efficient Unit Award
2010' for its energy conservation efforts from CII in 2010.

Dahej Manufacturing Division received the 'National Energy Conservation Award

2010' for its energy conservation initiatives from the Ministry of Power, Government
of India.

Jamnagar Manufacturing Division received the 'National Award for Excellence in

Energy Management' for its energy conservation techniques from CII in 2010.

Jamnagar Manufacturing Division received the 'I.C.C. Award for Excellence in

Energy Management' for its energy performance from the Indian Chemical Council in
2010.

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RELIANCE INDUSTRY

TECHNOLOGY,PATENTS,R&D AND INNOVATION:

Nagpur Manufacturing Division received the 'Innovation Quest 2010 Trophy'

instituted by the Indian Institution of Industrial Engineering.

E&P's KG-D6 won the 'Innovation for India Awards 2010' instituted by the Marico
Innovation Foundation for their combined synthesis of advanced technologies,
extreme engineering, innovative execution, yielding unprecedented results and impact
on India's energy security.

Hazira Manufacturing Division won the "Innovative Project" from the CII in 2010.

Hazira Manufacturing Division won the FGI Federation of Gujarat Industries Award
for technology development in 2010.

Hazira Manufacturing Division won the Indian Chemical Council Award for chemical
plant design and engineering in 2010.

Reliance Technology Group (RTG) received "Certificate of Merit" from the

Federation of Gujarat Industries and "ICC award for excellence in chemical plant
design and engineering" in 2010.

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RELIANCE INDUSTRY

RETAIL:

Reliance Footprint received the Retailer of the Year Award in the Non Apparel and
Footwear category at Asia Retail Congress 2010.

Reliance Time-out received the Retailer of the Year Award in the Leisure Category at
Asia Retail Congress 2010.

Vision Express was bestowed the 'Award 2010' for its contribution by the Netherlands
India Chamber of Commerce and Trade in 2010.

Reliance Trends received the 'Retail Marketing Campaign of the Year Award' at the
Asia Retail Congress 2010.

Reliance Trends received the 'Impactful Retail Design and Visual Merchandising of
the Year Award' at the Asia Retail Congress 2010.

SUSTAINABILITY:

Jamnagar Manufacturing Division won the 'Golden Peacock Global Award for
Sustainability for the year 2010'.

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RELIANCE INDUSTRY

CONSOLIDATED FINANCIAL STATEMENT:If any company holds majority of the shares of another company. The company who takes the
shares is a parent company or holding company and the company whose shares held is a
subsidiary company.

DEFINITION OF HOLDING COMPANY:Any company who controls other company is called holding company. In other words, if
any company has any one power from following three powers, then that company will be
holding company:- . If any company has 51 % shares of other company, then this company
becomes holding Company of other. Or. If any company has power to appoint board of
directors of other company, then this company

becomes holding company of other

company. Or. Main holding companies also will the holding company of all subsidiaries
subsidiary companies.

EXPLANATION WITH EXAMPLE:Suppose, H is holding company of S because 51 % shares are of H in S. S is also of holding
Company of R because S have power to appoint the board of directors of R Company and
then H is also holding Company of R.

COMPANY OVERVIEW:One benefit of consolidated financial statements considers the fact that a complete overview
of the parent company and all of its subsidiaries appears in one set of reports. These financial
statements provide a financial overview of all the companies owned by the parent. A
financial statement user determines the financial health of the entire organization by
reviewing the consolidated financial statements.

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RELIANCE INDUSTRY

FEATURES OF HOLDING COMPANY:1. Holding Company provides the power to work independently to subsidiary company.
Because relationship

of holding and subsidiary company is not amalgamation or merge but

both company joins for cutting the

cost of competition and getting the benefits of

monopoly. 2. Holding company can also deal with subsidiary company and it is also recorded
in both books. 3. Under Company act of India 1956, it is required to attach the copy of final
accounts of subsidiary

company with the annual report of holding company.

BENEFITS OF CONSOLIDATED BALANCE SHEET:Many companies acquire other businesses to complement their current operation. The
acquiring company takes on the role of parent company and oversees the actions of the new
business. The new business becomes a subsidiary and reports its financial results to the parent
company. The parent company combines the financial results with its own and creates
consolidated

financial

statements.

LESS PAPERWORK:Another benefit of consolidated financial statements is the reduced amount of paperwork
created for the statements. When a parent company owns multiple subsidiaries, a set of
financial statements exists for each individual company. Each set of financial statements
includes four separate reports. If a parent company owns nine subsidiaries, the complete set
of individual financial statements includes 40 reports. If the parent company consolidates the
financial statements, the set of financial statements only includes four reports.

SIMPLIFIED:Consolidated financial statements also provide a simplified view of the organization's results.
When one subsidiary sells products to another, it creates an intercompany transaction. One
company records a sale, while another company records a purchase. The sale and purchase
cancel each other out from the complete organization perspective. Consolidated financial
statements eliminate these transactions and simplify the financial statements.
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RELIANCE INDUSTRY

ADVANTAGES

OF

CONSOLIDATED

Financial statements, including the balance sheet, the income

BALANCE

SHEET:-

statement and the cash flow

statement, are primary financial tools for every business. They provide vital information in
easy-to-understand ways and enable analysts to quickly form financial ratios to compare
different numbers. However, for some businesses, financial statements are not easy to create.
Large corporations tend to be segmented with several different divisions that all have
different financial operations. Consolidated financial statements combine all these divisions
into a single report.

BROAD PICTURE:The basic advantage when consolidating financial statements is the broad picture it gives.
Investors do not want to go through several different financial statements to add up
information and find out how the corporation is doing overall. The consolidated statements
provided by the parent company accomplish the task automatically and make an excellent
reference point for shareholders, leaders and anyone interested in how all the different parts
of the business are functioning as a whole.

BALANCE:Consolidating financial statements also lets a corporation effectively balance its appearance
to outside parties. For example, during one period a parent company may lose revenue and
perform poorly, but the subsidiaries may perform very well and increase revenues. The
consolidated statement will balance the poor parent's performance with the positive
subsidiary performance, allowing the company to show that through its diversification it
remained profitable.

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RELIANCE INDUSTRY

EXCULSIONS:According to consolidated financial statement guidelines, a corporation can also exclude

certain divisions from the statements. This is also an advantage, because it allows investors
to see -- and companies to show -- that some financial aspects are not long term. For
example, subsidiaries are exempt if the parent company's ownership of them is temporary or
if the control of the company does not actually rest with the majority owner, which can
happen

through

bankruptcy.

NECESSITY:Consolidated financial statements are required by most governments as an accurate

representation of a parent company's financial activity. In general, tax laws require that a
single accounting entity be represented out of the net resources and operating results of all the
divisions that a company owns. As a result, many companies have become used to producing
consolidated statements for governments, investors and internal analysis.

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RELIANCE INDUSTRY

DISADVANTAGES OF CONSOLIDATED BALANCE SHEET:In many cases, consolidating a financial statement within a business , with a business
partner or with a spouse is a good idea. It allows you to combine your buying power to
qualify for better credit or put a superior face forward in negotiations. However,
consolidating the strengths of two statements also exposes the weaknesses of both. When
considering whether or not to consolidate, keep an eye out for the following pitfalls.

POOR CREDIT:A combined statement will include the credit history of all people or entities involved. Most
potential lenders will make decisions based on the worst credit history and lowest credit score
of the statement's constituents. Before combining statements, make sure everybody involved
has a score above 650 and no outstanding negative credit actions.

DEBT TO INCOME:Another factor of financial strength is the debt-to-income ratio. In many marriages, one
spouse has most of the debt and pays for that debt with the income of the other. Combining
financial statements may show a very high combined debt-to-income ratio. However, if the
spouse without the debt applies for a loan, on paper that spouse shows only their personal
income with none of the debt in the other spouse's name. This concept applies equally to
other partnerships where a combined statement is appropriate.

LOGISTICS:Combining statements requires adding a new, complex and time-consuming step to an

already arduous process. Once every individual or entity has prepared a financial statement,
the preparer must then calculate and format a new statement combining information from the
individual statements. Also, some procedures may require the signature or even the presence
of every individual comprising the combined statement, which can make scheduling and
progress very difficult.

TRUST:A combined financial statement means all constituents of the statement have access to
financial details about all other constituents. Although this isn't a huge concern for some
partnerships, this may be a serious problem for others.

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RELIANCE INDUSTRY

IMPORTANCE OF CONSOLIDATED FINANCIAL STATEMENT:Generally accepted accounting principles (GAAP) require consolidated financial statements
from parent companies that own or control subsidiary companies or have controlling interests
in joint ventures and strategic partnerships. To report only the financial information of the
parent company tells only part of the story of the entire enterprise since each subsidiary
contributes both income and liabilities to the financial strength of the parent.

SIGNIFICANCE:Growing a company often involves buying out the competition to acquire their customers and
expanding business through adding new products, services and technology. These additions
to a company's offering line usually means purchasing smaller companies that service
particular niches through their own product lines or technologies. The subsidiary companies
normally continue to operate as separate companies under the control of the parent company
but according to accounting rules each must maintain separate accounting records. These
separate accounting records are then consolidated with the parent company's accounting
records to produce the consolidated finances.

FUNCTION:It would be difficult for an investor or financial analyst to gather together all the accounting
reports of a parent company and its many subsidiaries in order to get an idea of the financial
health of the total enterprise, so parent companies are now required to report their finances on
a consolidated basis. Occasionally the parent will make a separate report of its own finances,
but that cannot stand alone and must be accompanied by the consolidated report.

MISCONCEPTIONS:Consolidated financial statements do not always give a more accurate picture of the financial
health of an enterprise because the individual accounting reports from the subsidiaries do not
show up anywhere but in the notes section of the consolidated finances. This makes it
possible to hide problems in the subsidiary reports, which is how Enron managed to hide the
losses and liabilities some of its failed projects generated. It just buried them in obscure
subsidiaries

created

for

the

purpose

of

hiding

certain

financial

problems.

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RELIANCE INDUSTRY

BENEFITS:The ultimate benefit of consolidated financial statements should be ease of understanding and
analysis of a company's financial condition for investors , creditors, vendors and anyone else
who needs to know how secure the company is with respect to being able to pay its bills and
continue as a profitable enterprise. However, a more sinister benefit of consolidated finances
is that they can be manipulated to hide financial problems. It is extremely difficult to
ascertain from these statements whether there are hidden problems and exactly where they
are in the enterprise. The FASB (Financial Accounting Standards Board) regularly visits this
subject to correct definitions and requirements that might serve as loopholes for companies
wishing to hide losses and liabilities. The IASB (International Accounting Standards Board)
is also working to create definitions and rules that will make evaluation easier and more
reliable when examining the financial reports of foreign companies and companies with
offshore

subsidiaries.

CONSIDERATIONS:Without consolidated financial statements the process of evaluating a company for

investment or financing purposes would be a long complex affair that might altogether miss
important assets or liabilities. In fact, many of the arguments that occur between company
management, accounting and auditing at year end involve how the consolidation of reports
should be done in order to give the most accurate picture of the company's financial health. It
is the auditor's job to make sure this consolidation of accounting reports accurately reflects
the true condition of the company.

33

RELIANCE INDUSTRY

REASON FOR CONSOLIDATED FINANCIAL STATEMENT:A corporate financial statement includes the balance sheet, the income statement, the cash
flow statement and the statement of shareholders' equity. However, since many corporations
have controlling interests in other business entities, financial statements for the parent
company alone can be misleading. For this reason, parent companies are legally required to
prepare consolidated financial statements that include data about the financial performance of
subsidiaries.

PREPARATION:Networks of subsidiaries controlled by a parent company act in many ways like a single
enterprise. Although subsidiaries must issue stand-alone financial statements, the parent
company must prepare consolidated financial statements that include all subsidiaries in which
they have a controlling interest (a controlling interest does not necessarily require even a 50
percent equity stake). The statement must report the parent company's equity stake in each of
its subsidiaries. Accounting standards differ depending on the extent of the equity stake -- the
complete consolidation method is used when the parent company's equity stake is greater
than 50 percent, the equity method is used for equity stakes of between 20 percent and 50
percent, and the cost method is used for equity stakes of less than 20 percent.

EFFICIENCY:One of the main advantages of the consolidated financial statement is efficiency. Instead of
examining the financial statements of each company in a network of dozens of companies, an
investor or an executive can examine a single financial statement to determine the financial
health of the entire network. Nevertheless, consolidated financial statements are usually
considerably more complex than stand-alone financial statements.

FRAUD PREVENTION:Another primary reason for consolidated financial statements is the prevention of fraud
against investors. Without the requirement that parent companies consolidate their financial
statements, companies could easily bury losses from underperforming divisions and product
lines in a web of subsidiaries and cross-shareholdings. In this case, underperforming or
34

RELIANCE INDUSTRY
failing subsidiaries could be draining the finances of the parent company to the point of nearbankruptcy, yet this state of affairs would not become apparent by reading the parent
company's stand-alone financial statement.

PITFALLS:The consolidated financial statement is not a panacea for the dangers of complex corporate
organization. In consolidated financial statements reports from individual subsidiaries are
contained in footnotes, making financial problems that can affect the parent company easy to
miss. A parent company might create a subsidiary for the sole purpose of assigning lossmaking activities to it, and then bury the bad news in an obscure footnote to the main body of
the

consolidated

financial

statement.

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RELIANCE INDUSTRY

SUBSIDIARY COMPANY:Subsidiary company is that company which is controlled by any other company. If any
company invested his money to buy other company's shares and has bought 51% or more
shares or share capital, then that company can become holding or parent company. The
company, whose shares are bought, will be subsidiary company.

CONSOLIDATED BALANCE SHEET OF HOLDING COMPANY Vs

SUBSIDIARY COMPANYs BALANCE SHEET:Subsidiary company's balance sheet's assets and liabilities will become the part of
consolidated balance sheet of holding company. 1. All the liabilities of subsidiary company
will be added in the consolidated balance sheet of subsidiary company. But Share capital of
subsidiary company in holding company will not shown in the consolidated balance sheet in
the books of holding company. Because, this share capital automatically adjust with the
amount of the investment of holding company in to subsidiary company.

2. Add all the

assets of subsidiary company with the assets of holding company. But Investment of holding
company in Subsidiary company will not shown in consolidated balance sheet because,
investment in subsidiary company will automatically adjust with the amount of share capital
of subsidiary company in holding company. 3. Add minority interest in liability side. First
of all we should know what minority interest is. Minority interest is the shareholder but there
is not holding companys shareholder. So, when holding company shows consolidated
balance sheet, it is the duty of accountant to show minority interest in the liability side of
consolidated balance sheet.

Under Indian Company Act , there is no need to prepare

combined or consolidated final accounts of holding and subsidiary company in the books of
holding company but holding company attaches the copy of balance sheet , one copy of profit
and loss account and one copy of audit report of subsidiary company with his final accounts .
But for showing true financial position, often holding company prepare consolidated balance
sheet. It is easy to understand that consolidated balance sheet is a balance sheet in which all
the assets and liabilities of holding company and subsidiary company are added with each
other but practically, it is tough to make consolidated balance sheet of holding and subsidiary
company.

36

RELIANCE INDUSTRY

STEPS FOR PREPARING CONSOLIDATED BALANCE SHEET OF

THE

HOLDING

COMPANY

Copyright

AND

SUBSIDIARY

COMPANY:-

www.www.examrace.com

1st step Add all the assets of subsidiary company with the assets of holding company. But
Investment of holding company in Subsidiary company will not shown in consolidated
balance sheet because, investment in subsidiary company will automatically adjust with the
amount of share capital of subsidiary company in holding company.
2nd step Add all the liabilities of subsidiary company with the liabilities of holding
company. But Share capital of subsidiary company in holding company will not shown in the
consolidated balance sheet in the books of holding company. Because, this share capital
automatically adjust with the amount of the investment of holding company in to subsidiary
company.
3rd Step Calculate of Minority Interest: First of all we should know what minority interest is.
Minority interest is the shareholder but there is not holding company's shareholder. So, when
holding company shows consolidated balance sheet, it is the duty of accountant to show
minority interest in the liability side of consolidated balance sheet. We can calculate minority
interest with following formula.

Total share capital of Subsidiary company = XXXXX

Less Investment of Holding company in to subsidiary company = -XXXX

Add proportionate share of the subsidiary company's profit

Reserves or increase in the value of assets + XXXX

Less proportionate share of the subsidiary company's loss and decrease

In the value of total assets of company-XXXXX V

Value of Minority Interest XXXXX

4th Step Calculate cost of capital/Goodwill or Capital Reserve If holding company purchases
shares of subsidiary company at premium, then the value of premium will be deemed as
goodwill or cost of capital and shows as goodwill on the assets side of consolidated balance
sheet. But if holding company purchases the shares of subsidiary company at discount, then
this value of discount will be capital reserve and show in the liability side of consolidated
balance sheet.
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RELIANCE INDUSTRY
5th Step Treatment of Pre-Acquisition of reserve and profit. Pre acquisition profit and
reserve of subsidiary company will be shown as capital reserve in consolidated balance sheet
but the value of minority interest's profit or reserves deducts from it and add in minority
interest value. Total profit before acquisition of subsidiary company = XXXX Less share of
minority interest-XXXX Value of profit X minority interest's value of shares in subsidiary
company/total share capital of subsidiary company. Pre-acquisition profit and reserve shown
as capital reserve XXX
6th Step Calculate post acquisition profits. After the date of purchasing the shares of
subsidiary company, profit of subsidiary company will also deem of holding company and it
include in the profit of holding company and we also separate the part of profit of minority
interest and add in minority interest's value and shown in liability side.
7th Step Elimination of common transactions. All common transaction between holding
company and subsidiary company will not show in the consolidated balance. There following
common transaction goods sold and goods purchase on credit and the value of debtor or
creditor either subsidiary company or holding company will not shown in consolidated
balance sheet Value of bill payable or bill receivable of holding company on subsidiary
company will also not shown but if some bills value is discounted from third party then either
of both company's payable value shown as liability in the consolidated balance sheet.
8th Step Treatment of Unrealized profit. If subsidiary company sells the goods to holding
company or holding company sells the goods to subsidiary company at profit and if such
goods will not sold in third party, then the profit will not realized, so such unrealized profit
will not credited to profit and loss account. At this time a stock reserve account is opened and
all amounts of unrealized profit transfers to this account and this accounts total amount is
deducted from closing stock of consolidated balance sheet. Suppose Closing stock of H
50000 Closing stock of S 50000 100000 Less stock reserve 2000 98000 If subsidiary
company has also other outsider's shares then holding company makes reserve up to his
shares proportion.
9th Step Treatment of Dividends. If holding company gets the dividends from subsidiary
company, then this will divide into two parts. If subsidiary company declare dividend out of
capital profits, then this will add in capital reserves in consolidated balance sheet. But, if
subsidiary company has declared the profit out of revenue gains, then this dividend will add
in general profit and loss account and will shown in the liability side of consolidated balance.
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RELIANCE INDUSTRY

CONSOLIDATED BALANCE SHEET:-

Consolidated Balance Sheet of Reliance

Industries

Sources Of Funds
Total Share Capital
Equity Share Capital
Share Application Money
Preference Share Capital
Init. Contribution Settler
Preference Share Application Money
Employee Stock Option
Reserves
Revaluation Reserves
Net worth
Secured Loans
Unsecured Loans
Total Debt
Minority Interest
Policy Holders Funds
Group Share in Joint Venture
Total Liabilities

Application Of Funds
Gross Block
Less: Accum. Depreciation
Net Block
Capital Work in Progress
Investments
Inventories
Sundry Debtors
Cash and Bank Balance
Total Current Assets
Loans and Advances
Fixed Deposits
Total CA, Loans & Advances
Deffered Credit

------------------- in Rs. Cr. ------------------Mar '14

12 mths

Mar '13
12 mths

2,940.00
2,940.00
17.00
0.00
0.00
0.00
0.00
195,730.00
0.00
198,687.00
14,186.00
119,625.00
133,811.00
959.00
0.00
0.00
333,457.00
Mar '14
12 mths

2,936.00
2,936.00
25.00
0.00
0.00
0.00
0.00
179,094.00
0.00
182,055.00
2,509.00
86,813.00
89,322.00
949.00
0.00
0.00
272,326.00
Mar '13
12 mths

229,835.00
88,418.00
141,417.00
91,494.00
61,325.00
55,997.00
9,411.00
37,984.00
103,392.00
31,215.00
0.00
134,607.00
0.00

213,822.00
80,335.00
133,487.00
49,952.00
42,848.00
54,601.00
9,750.00
50,456.00
114,807.00
21,263.00
0.00
136,070.00
0.00
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RELIANCE INDUSTRY
Current Liabilities
Provisions
Total CL & Provisions
Net Current Assets
Minority Interest
Group Share in Joint Venture
Miscellaneous Expenses
Total Assets
Contingent Liabilities
Book Value (Rs)

90,650.00
4,736.00
95,386.00
39,221.00
0.00
0.00
0.00
333,457.00
63,712.00
675.85

84,943.00
5,088.00
90,031.00
46,039.00
0.00
0.00
0.00
272,326.00
33,135.00
619.93

40

RELIANCE INDUSTRY

CONCLUSION:-

Reliance Industries Limited is an Indian conglomerate holding company

headquarters in Mumbai, Maharashtra, India.

Reliance Industries Limited is a fortune Global 500 company and is the largest
private sector company in India.

He has been one among the select Forbes billionaires and has also figured in the
Sunday Times list of top 50 businessmen in Asia.

The company was selected as one of the world's 100 best managed companies for
the year 2000 by Industry Week magazine.

The Brand Trust Report, 2013 has ranked 'Reliance' as the 7th most trusted brand
in India.

RIL was certified as 'Responsible Care Company' by the American Chemistry

Council in March, 2012. .

RIL was awarded the National Golden Peacock Award 2011 for its contribution in
the field of corporate sustainability.

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RELIANCE INDUSTRY

BIBLIOGRAPHY

http://www.whatisindia.com/issues/reliance/index.html

http://www.iloveindia.com/economy-of-india/top-50-companies/reliance-group.html

http://inhome.rediff.com/money/2005/jun/21sld5.htm- Key Players

http://www.rediff.com/money/2004/dec/21bspec.htm-conflict

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