Reliance Industries Ltd- Fy 2011-12 In Review-xhero

Business Reliance Industries Limited (RIL) outlined its financial statement for the year ending 31 March 2012. Reliance Industries recorded a revenue of Rs. 339,792 Crore ($ 66.8 BILLION) for the FY 2011-12. Besides, their consolidated revenue accounts to Rs.19, 724 Crore ($ 3.9 BILLION) for the same period. This year witnessed their highest ever exports of Rs. 208,042 Crore ($ 40.9 BILLION) that forms 14% of Indias exports. In comparison to the previous year, their turnover increased to Rs. 339,792 Crore by 31. 4 %. Even their exports have strengthened this year by 41.8 % to Rs.208, 042 Crore. Their Profit before Tax climbed to Rs. 25,750 Crore i.e. by 2.0 %. The Gross refining Margin stands at $ 7.6 / bbl for the quarter and $ 8.6 / bbl for this year ended 31 March 2012. They recorded a dividend of 85% with a payout of 2,941 Crore. Outlining the performance of RIL in its consolidated form, the turnover has increased by 34.9% to ‘ Rs.358, 501 Crore along with their Profit before Tax increase by 5.1% to 25,338 Crore. Their cash profit has witnessed a decline of 3.5 % that accounts for Rs. 32,590 Crore. Their Net Profit has increased by 2.2% this year to Rs.19, 724 Crore. Speaking about the key events and deals for the year ended 31st March , 2012 ; RIL and BP declared the 30% stake acquisition of BP in 21 RIL Oil and Gas sharing contracts (PCS) including the producing KG-D6 block operating in India on 30th August 2011. Besides, India Gas Solutions Pvt. Ltd is a 50:50 joint venture company incorporated by RIL and BP, which will deal with global sourcing and marketing of natural gas along with improving the infrastructure to intensify transportation and marketing of natural gas in the country. On 21 April 2011, RIL announced its 70% participating interest in the exploration block CY-PR-DWN-2001/3 (CYPR-D6) that is located in the deep-water Cauvery-Palar basin for its discovery of rich gas in the very first well drilled in this block. This huge block with its area measuring around 8600 km is under the bidding ground of NELP-III. The Optimized Field Development Plan (OFDP) was approved by the Governments Management Committee for the development of the discovery of 4 satellite fields (D2/D6/D19/D22) in KGD6 block. Several proposals catering to the Domestic Oil and Gas business were submitted to the Government for its evaluation and approval regarding KG-D6s revised field development plan for D26, CY-D6 S appraisal program in February 2012, CBMs gas pricing formulae and its discoveries D32 and D40 at NEC- 25. The Board of Directors of RIL supported the buyback of 3663431 equity shares up to 31 March 2012. It also declared its divestment to TV18 Broadcast Limited (TV18) from its investments in the ETV channel. Reliance Sibur Elastomers Private Limited is a joint venture formed between SIBUR, East Europe’s largest petrochemical company, and RIL together. RIL was the first company to gain recognition as a Responsible Care Company under the American Chemistry Council (ACC), USA severe standards. The Global Reporting Initiative (GRI) awarded RIL with its highest certification A+ for the settlement and completion of its disclosures. Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Limited proudly stated that RILs businesses have served as the leading path-breakers in the industry, which clearly reflects the quality of assets and the rising demand for the same nationally and internationally. He also believes that they have built a strong foundation that will guarantee future growth and are rigorously investing in their mainstay upstream and petrochemical businesses. Speaking about the Retail business, this business magnate considers it encouraging at present and assures further expansion by building new stores in varied sectors across the country. Besides, he also assured Reliances commitment towards providing high-class wireless data services that meet international standards with the launch of their broadband access business. About the Author: 相关的主题文章: