Relying on Mukesh

IIPM PUBLICATION

RIL is expected to continue on its aggressive growth path, and set new benchmarks

When it comes to Indians and food, the word “Fresh” has a universal appeal, and smoothly supersedes every credible constriction construed under the sun. If it has to be eaten, by simple logic, ‘fresh’ is how the Indians love it.

As Reliance Industries Limited (RIL) finally got off with its gargantuan retail foray in the financial year 2006-07 with a food retail chain named Reliance Fresh, a powerful connection was established for the incorrigible ‘freshness conscious’ Indian at the outset. A connection that is pan- Indian, just the way Mukesh Ambani plans to make Reliance Fresh a household name across India (RIL currently has 138 Reliance Fresh stores in place), which is, in turn, a stepping stone to his becoming the Indian version of Wal-Mart. The company has also launched its foray into consumer electronics with Reliance Digital.

Grandiose is how Mukesh Ambani envisions every one of his old and new ventures, and lately he’s been quite preoccupied with setting up new behemoths that should one day be living examples on their own. And with the kind of numbers RIL shows up on its balance sheet, one wouldn’t dare to doubt Mukesh’s exuberance as evident from his investments, as the financial year 2006-07 proved yet again.

Despite facing volatility in the prices of crude oil, an unexpected incident at the Jamnagar plant, production loss owing to floods at the Hazira unit, Reliance Industries came out triumphant by creating a new chapter when its net profits crossed Rs.100 billion mark, exports that surpassed $15.02 billion and a turnover that stands at $25.51 billion. Mukesh Ambani, CMD, Reliance Industries, while speaking on the announcement of his company’s results sounded ecstatic, “2006 – 07 has also been an eventful year for the company. While our petrochemicals & refining business recorded its best ever performance, we have made substantial investments in our future growth engines such as E&P and retail...” As on June 7, 2007, the RIL scrip closed at Rs.1669.15, pole-vaulting by over 100% year on year. On May 28, Mukesh’s personal valuation in RIL made him the first trillionaire of India.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Ambitious Ambanis!

IIPM MANAGEMENT INSTITUTE

Read on to know the latest about India’s famed fable…

If it’s true that Dhirubhai Ambani infused life into India’s moribund stock market, than it won’t be an exaggeration, if one were to conclude that both Anil & Mukesh have kept that life, that vigour & vitality very much intact.

It’s the investors that have always stood by Reliance and that’s because of tremendous wealth created by both the brothers even after the de-merger of the business. The m-cap of Reliance Industries stood at Rs.1,153 billion, as on June 8, 2007 compared to Rs.683 billion a year ago, a smart 69% increase, what else could an investor ask for?

For 2006-07, net profits of Mukesh Ambani controlled – Reliance Industries crossed Rs.10 billion mark. The turnover was up by 24% and touched $25.51 billion mark, while exports crossed the $15.02 billion mark accounting for 12% of aggregate exports from India. The net profits of Anil Ambani controlled – Reliance Communications reached $209 million and revenues at $851 million in a short span of time.

While Mukesh continues his romance with black gold, Anil has forayed intonext-gen business like Financial services & Telecom and plans to supersede some of the established players. Two different set of business lines, but in the line with investors’ expectations!

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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