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Timeline of Reliance Industries Limited

157 bytes added, 16:08, 13 November 2019
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| 1977–1990 || Switch to petrochemicals || The principal group company becomes an extremely widely held public limited company, with a rapid proliferation in the number of companies in the group.<ref name="From “Outsider” to Insider: The Case of Reliance"/>
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| 1991-onwards || Liberal India || RIL business diversifies and . In 1992 the company becomes the first Indian company to raise money in global markets. In 1995 the group enters the {{w|telecommunications}} industry. In 1992 1998, RIL becomes enters the first Indian company to raise money in global markets{{w|healthcare}} sector.
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| 1990s || Reliance Refineries is established in 1991, and launches its public offering in 1993. In 1997 Reliance Petroleum launches construction of India's largest oil refinery at {{w|Jamnagar}}. In 1999, the company wins a bid for 12 exploration blocks auctioned off by the {{w|Indian government}}.<ref name="referenceforbusiness.com"/>
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| 2000s || In 2002, Reliance locates the largest Indian natural gas field in decades. In the same year, Dhirubhai Ambani dies at age 69; . Reliance Petroleum merges into Reliance Industries. Following the acquisition of Germany's {{w|Trevira}} in 2004, RIL becomes the world's leading polyester manufacturer, with production levels topping 25 million meters per year.<ref name="referenceforbusiness.com"/> In 2006, Reliance Industries is broken up between the Ambani brothers.<ref name="referenceforbusiness.com"/>
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| 2010s || The company is ranked 106th on the {{w|Fortune Global 500}} list of the world's biggest corporations as of 2019.
! Year !! Month and date !! Event type !! Details
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| 1932 || || Prelude || {{w|Dhirajlal Hirachand Ambani}} is born to a lower middle class schoolteacher's family in {{w|Chorwad}}, {{w|Gujarat}}.<ref name="referenceforbusiness.com">{{cite web |title=Reliance Industries Ltd. |url=https://www.referenceforbusiness.com/history2/78/Reliance-Industries-Ltd.html |website=referenceforbusiness.com |accessdate=8 November 2019}}</ref>
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| 1948 || || Prelude || At the age of 16, instead of becoming a teacher himself as an alernative of not being able to afford university, Ambani travels to the port city of Aden where he begins working as a clerk at a service station. Ambani would remain in Aden for nearly ten years, rising to become Burmah Shell's marketing manager.<ref name="referenceforbusiness.com"/>
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| 1958 || || Early development || In the midst of a worsening political situation in Aden, Dhirajlal returns to India where he starts a yarn trading business from a small 500 square feet office in {{w|Mumbai}} that Ambani rents for two hours per day.<ref name="MAMMOTH">{{cite web |title=MAMMOTH ASPIRATIONS |url=https://www.ril.com/TheRelianceStory.aspx |website=ril.com |accessdate=8 November 2019}}</ref> Reliance Commercial Corporation is established in partnership with Champaklal Damani, Dhirajlal cousin. Initial exports include spices as well as fabrics.<ref name="referenceforbusiness.com"/><ref name="referenceforbusiness.com"/><ref name="RAICHAUDHURI">{{cite book |last1=RAICHAUDHURI |first1=ANJAN |title=MANAGING NEW VENTURES: CONCEPTS AND CASES IN ENTREPRENEURSHIP |url=https://books.google.com.ar/books?id=sFqQSBbn_x0C&pg=PA84&lpg=PA84&dq=Reliance+Commercial+Corporation&source=bl&ots=Sf1FayguQR&sig=ACfU3U32UFnCEJOp1Xmd3uCqIRcgwxlcWw&hl=en&sa=X&ved=2ahUKEwiu5LXpx9vlAhWhHrkGHZReAW0Q6AEwDnoECBEQAQ#v=onepage&q=Reliance%20Commercial%20Corporation&f=false}}</ref>
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| 1964 || || Facility || Dhirajlal establishes a textile factory in {{w|Naroda}} near {{w|Ahmenabad}}.<ref name="RAICHAUDHURI"/>
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| 1965 || || Leadership || Champaklal Damani and Dhirubhai Ambani end their partnership due to differences in business strategies.<ref name="RAICHAUDHURI"/>
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| 1966 || February 11 || Founding || Reliance Textiles Industries Pvt Ltd is founded by {{w|Dhirubhai Ambani}} in {{w|Bombay}}.<ref name="Reliance Industries Ltd"/><ref name="RELIANCE INDUSTRIES"/>
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| 1966 || || Facility || A synthetic fabrics mill is established at {{w|Naroda}} in {{w|Gujarat}}.<ref name="Reliance Industries Ltd"/>
| 1966 || May 8 || Subsidiary || Reliance Textile Industries Ltd is incorporated in {{w|Karnataka}} state as a public limited company under the name Mynylon Ltd. to manufacture synthetic blended yarns and fabrics, polyester filament yarn, polyester glass shells and colour TV picture tubes.<ref name="Reliance Industries Ltd">{{cite web |title=Reliance Industries Ltd. Company History and Annual Growth Details |url=https://www.goodreturns.in/company/reliance-industries/history.html |website=goodreturns.in |accessdate=16 September 2019}}</ref>
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| 1966 || July 1 || Merger || Reliance Textile Industries Ltd, is amalgamated with Mynylon Ltd.<ref name="Reliance Industries Ltd"/>
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| 1969 || || Subsidiary || Reliance Exports is incorporated.<ref name="From “Outsider” to Insider: The Case of Reliance"/>
| 1993 || || Product || "The polyester filament yarn (PFY) division introduced two new products viz., Micro and multi-filament yearn. Several new and customized product range was introduced such as ultra-stabilized raffia grade, high flow injection moulding grade and high ESCR blow moulding grade."<ref name="Reliance Industries Ltd"/>
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| 1993 || || Financial || RIL pioneers the first ever Euro Convertible Bond issue by an Indian company.<ref name=Milestones/> "Offered the first Euro Convertible bond issue "<ref name="ndtv.com"/>
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| 1993 || || Financial || Reliance Petroleum Limited public issues the largest public offering in India.<ref name=Milestones/>
| 1994 || || Financial || RIL offers the second Euro issue of {{w|Global Depository Receipt}}s (GDR).<ref name=Milestones/> " Offered the second Euro issue of GDR."<ref name="ndtv.com"/>
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| 1995 || || Facility || RIL commissions a new {{w|triethylene glycol}} (TEG) manufacturing factory with a capacity of 10,000 TPA to add value to {{w|diethylene glycol}} (DEG), a by product from its monoethylene Glycol plant. TEG is an import substitute used in oil exploration, lubricants and speciality application.<ref name="Reliance Industries Ltd"/>
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| 1995 || || Product || RIL signs a {{w|Memorandum of understanding}} with the {{w|Government of Assam}} for implementation of RAPL (Reliance Assam Petrochemicals Ltd.) for manufacture of {{w|ethylene}}, {{w|polyethylene}} and {{w|oxoalchol}} based on ethylene and propylene products from the gas cracker.<ref>{{cite web |title=Reliance Industries |url=https://www.moneycontrol.com/company-facts/relianceindustries/history/RI |website=moneycontrol.com |accessdate=13 November 2019}}</ref>
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| 1995–1996 || || Joint venture || RIL enters the telecom industry through a {{w|joint venture}} with {{w|NYNEX}} and promotes Reliance Telecom Private Limited in {{w|India}}.<ref name="RELIANCE INDUSTRIES"/>
| 1998 || || Product || RIL introduces packaged {{w|liquefied petroleum gas}} in 15 kg cylinders under the brand name Reliance Gas.<ref name="RELIANCE INDUSTRIES"/>
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| 1998 || || Business expansion || RIL enters the health-care sector with an initial investment of Rs.100 crore, and becomes joint trustee of Sir Hurkisondas Nurrotumdas Hospital at Charni Road in Mumbai.<ref name="Reliance Industries Ltd"/>
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| 1998 || || Recognition || {{w|Dhirubhai Ambani}} is awarded the Dean's Medal by the {{w|Wharton School of the University of Pennsylvania}}, for setting an outstanding example of leadership."<ref name=Milestones/>
| 2001–2002 || || Recognition || {{w|Dhirubhai Ambani}} receives The Economic Times Award for Corporate Excellence for Lifetime Achievement.<ref name=Milestones/>
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| 2001–2002 || || Product || "Reliance signed MOU RIL signs a {{w|Memorandum of understanding}} with [[w:DuPont (1802–2017)|DuPont Polyester Technologies ]] to license the revolutionary resin technology NG-3 from DuPont. Reliance announced announces its plan for the expansion of PET {{w|polyethylene terephthalate}} capacity by 220,000 tonnes tons per year."<ref name=Milestones/>
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| 2002 || || || Reliance Petroleum Limited merge with Reliance Industries. As of date, this is the largest ever merger in India. Reliance Industries becomes the largest private sector company in the country on all major financial parameters including sales, profits, net worth, assets, and exports.<ref name=Milestones/><ref name="ndtv.com"/>
| 2004 || October || Recognition || RIL is recognized as India's Greenest private sector company amongst the private sector with an overall rank of number two in a BT–ACNielsen ORG-MARG survey of shareholder perception.<ref name="ndtv.com"/>
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| 2005 || || Financial || RIL launches a US$348 million [[w:Syndicated loan|syndicated term loan facility]], with aims at replacing existing high cost loans.<ref name="ndtv.com"/>
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| 2005 || June || Leadership || A bitter succession dispute takes place caused by conflict between Mukesh and Anil which would eventually lead to a separation in their management responsibilities.<ref name="Chatterjee">{{cite book |last1=Nankervis |first1=Alan R. |last2=Cooke |first2=Fang Lee |last3=Chatterjee |first3=Samir R. |last4=Warner |first4=Malcolm |title=New Models of Human Resource Management in China and India |url=https://books.google.com.ar/books?id=kZ1RkKE-_doC&pg=PA128&dq=%22reliance+group%22+%22in+2006..2018%22&hl=en&sa=X&ved=0ahUKEwjcrqLT4dvlAhW8GLkGHYSNCXkQ6AEIKTAA#v=onepage&q=%22reliance%20group%22%20%22in%202006..2018%22&f=false}}</ref>
| 2007 || October 18 || Financial || RIL becomes the first Indian company to breach US$100 billion market capitalization.<ref>{{cite web|url=https://timesofindia.indiatimes.com/business/india-business/tcs-breaches-100-billion-market-in-m-cap-first-indian-it-firm-to-do-so/articleshow/63882361.cms|title=TCS breaches $100 billion market in m-cap; first Indian IT firm to do so}}</ref><ref>{{cite web|url=https://timesofindia.indiatimes.com/business/india-business/tcs-market-cap-more-than-the-gdp-of-these-countries/articleshow/63894564.cms|title=TCS market-cap more than the GDP of these countries}}</ref>
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| 2007 || || Financial || RIL revenue crosses Rs. 100,000 crore mark, net Profit crosses Rs. 10,000 crore mark, and total assets cross Rs. 100,000 crore mark. Unparalleled , unparalleled in the Indian Private private sector. Exports cross Rs. 60,000 crore mark, 12% of India's total exports. RIL declares Dividend of 110%. Payout of Rs 1,440 Crore, highest in the Indian Private Sectorprivate sector.<ref name="ndtv.com"/>
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| 2008 || April || || RIL signs gas sales and purchase agreement with the customers in power sector for supply of natural gas to be produced from the [[w:Krishna Godavari Basin|KG-D6 block]].<ref name="RELIANCE INDUSTRIES"/>
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| 2008 || || Financial || "Revenue crossed RIL revenue crosses Rs. 130,000 crore mark (Rs. 139,269 crore, US$ 34.7 billion), Net Profit net profit crossed Rs. 15,000 crore mark (Rs. 19,458 crore, US$ 4.9 billion) and Total Assets crossed Rs. 140,000 crore mark (Rs. 149,839crore, US$ 37.3 billion), unparalleled in the Indian Private private sector. Exports crossed cross Rs. 80,000 crore mark (Rs. 83,492 crore, US$ 20.8 billion), 13.4% of India's total exports. RIL declares Dividend of 130%. Payout of Rs 1,631 Crore, highest in the Indian Private Sectorprivate sector."<ref name="ndtv.com"/>
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| 2008 || || Financial || RIL reaches an aggregated worth of approximately US$ 125 billion, around a hundred direct and many more affiliated companies, more than 80,000 global employees, and is structured as 'several hundred investment companies, satellite companies and trusts''.<ref name="Chatterjee"/>
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| 2009 || April 2 || || "From April 2 2009 the company commenced production of hydrocarbons in its KGD6 block in the Krishna Godavari basin with the production of sweet crude of 420 API."<ref name="RELIANCE INDUSTRIES"/> "In 2009, Reliance commences production of hydrocarbons in its KGD6 block - against all odds - in just over two years of its discovery, making it the world’s fastest green-field deepwater oil development project. With this development, Reliance completes an unprecedented backward integration journey."<ref name="MAMMOTH"/>
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