Timeline of Reliance Industries Limited
Revision as of 12:28, 7 November 2019 by Sebastian
This is a timeline of Reliance Industries Limited.
|Time period||Development summary||More details|
|Year||Month and date||Event type||Details|
|1966||February 11||Reliance Textiles Industries Pvt Ltd is founded by Dhirubhai Ambani in Bombay.|
|1966||A synthetic fabrics mill is established at Naroda in Gujarat.|
|1966||May 8||Reliance Textile Industries Ltd is incorporated in 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.|
|1966||July 1||Reliance Textile Industries Ltd, is amalgamated with Mynylon Ltd.|
|1973||May 8||RIL is incorporated.|
|1975||June 28||RIL is converted into a public limited company.|
|1977||March 11||The name of Mynylon Ltd changes to Reliance Textiles Industries Ltd. The company manufactures synthetic blended yarns and fabrics polyester filament yarn polyester staple fibre chemicals and allied products colour TV glass shells and colour TV picture tubes. Mynylon yarns are marketed under various brand names such as Texalit, Textron, Texlene, Poly dyed and polytwist. The fabrics are marketed under the brand name "VIMAL".|
|1977||November||Reliance launches its Initial public offering, with Dhirubhai Ambani introducing equity cult in India, a new model of business leadership from a base of the broadest public shareholding.|
|1979||". The company has set up a texturising / twisting facilities in 1979 RIL has also set up plants for Polyester Staple Fiber (PSF) in 1986 and for Linear Alkyl Benzene (LAB) & Purified Terephthalic Acid (PTA) in 1988. "|
|1979||"During the year Sidhpur Mills Co. Ltd which has an installed capacity of 38,368 spindles and 490 looms was amalgamated with the company. In terms of the scheme of amalgamation, the company was to issue and allot for every one equity share of Rs. 100 each of Sidhpur, 2 equity shares of Rs.10 each and one bond of Rs.80 of the company. "|
|1979||"The Company allotted a total of 1,12,000 No. of equity shares of Rs 10 each and 35,000 - 11% bonds of Rs 80 each to the shareholders of Sidhpur Mills."|
|1980||Reliance Textiles Industries receives a letter to intent from the manufacture of 10,000 tons per annum of polyester filament yarn. Financial and technical collaboration is finalized with E. I. du Pont de Nemours and Company.|
|1982||Product||Reliance Textiles Industries launches phase-I of the Polyester Filament Yarn (PFY) plant at Patalganga.|
|1985||June 27||Renaming||Reliance Textiles Industries Ltd changes its name again, this time to Reliance Industries Ltd.|
|1985||Product||Reliance Textiles Industries enters phase-II of the polyester filament yarn (PFY) plant at Patalganga.|
|1985||September 30||Subsidiary||Devti Fibres Ltd becomes a subsidiary of RIL.|
|1985||Financial||RIL total Assets cross Rs. 1,000 crores.|
|1986||March||Product||"On March a plant for the manufacture of Polyster Staple Fibre was commissioned in technical collaboration with F.I DU Pont De Nemours and Co. USA."|
|1986||"During the same year company set up a project for the manufacture of linear alkyl benzene in technical collaboration with UOP Processes International Inc. USA."|
|1986||Product||RIL commissions a polyester staple fibre (PSF) plant at Patalganga. "Reliance commissioned Polyester Staple Fibre (PSF) plant at Patalganga."|
|1986||Product||RIL starts operating a purified terephthalic acid plant at Patalganga.|
|1987||Product||RIL starts operating the linear alkylbenzene (LAB) plant at Patalganga.|
|1988||Product||Linear alkylbenzene (LAB) is sold under the brand name "Relab".|
|1988||Product||RIL starts the paraxylene plant at Patalganga.|
|1988||Financial||RIL sales cross Rs. 1,000 crores mark.|
|1991||"Reliance commissioned phase–I of Hazira Petrochemicals Complex – consolidated its position in polyesters and entered into attractive polymers business – started VCM and PVC plants." "The Hazira petrochemical plant was commissioned in 1991-92"  "In 1991-92, RIL commissioned a petrochemicals unit to manufacture HDPE and PVC at Hazira, Gujarat, in technical collaboration with DuPont and BF Goodrich respectively." "Reliance commissioned phase-I of Hazira Petrochemicals Complex - consolidated its position in polyesters and entered into attractive polymers business - started VCM and PVC plants."|
|1992||Product||RIL commences the production of high-density polyethylene (HDPE) at Hazira.|
|1992||"Reliance raised funds by pioneering foray into overseas capital markets with first ever international GDR offering by an Indian corporate."|
|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."|
|1993||RIL pioneers the first ever Euro Convertible Bond issue by an Indian company. "Offered the first Euro Convertible bond issue "|
|1993||Financial||Reliance Petroleum Limited public issues the largest public offering in India.|
|1994||Product||RIL introduces its new product, Linear Low-Density Polyethylene Octene.|
|1994||"Reliance offered the second Euro issue of GDR" " Offered the second Euro issue of GDR."|
|1995||"During the year company commissioned a new Triethylene Glycol manufacturing factory with a capacity of 10,000 TPA to add value to Diethylene Glycol (DEG), a by product from its Monoethylene Glucol plant. TEG is an import substitute used in oil exploration, lubricants and speciality application."|
|1995||"During the year company signed a Memorandum of Understanding with the Govt. of Assam for implementation of RAPL (Reliance Assam Petrochemicals Ltd.) for manufacture of 3,00,000 TPA of ethylene, 3,00,000 TPA of Polyethylene and 65,000 TPA of Oxoalchol based on ethylene and propylene products from the gas cracker."|
|1995||"Net profit crossed the Rs 1,000 crore mark (Rs 1,065 crores or US$ 338 million), unparalleled in the Indian Private sector"|
|1995–1996||Joint venture||EIL enters the telecom industry through a joint venture with NYNEX and promotes Reliance Telecom Private Limited in India.|
|1996||"Reliance became the first private sector company 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 Ceilings." "Reliance became the first private sector company 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 Ceilings"|
|1996||RIL net profit surpasses Rs.1,000 crore (about US$ 317 million), an unparalleled milestone in the Indian private sector.|
|1996–1997||"Reliance became the first corporate in Asia to issue bonds in the U.S at the year of 1996-97."|
|1996–1997||"First corporate in Asia to issue 50 and 100 years bond in US debt market"|
|1997||" First corporate in Asia to issue 50 and 100 years bond in US debt market."|
|1998||" In 1998-99 RIL introduced packaged LPG in 15 kg cylinders under the brand name Reliance Gas."|
|1998||"For the first time Reliance Industries is entering the health-care sector with an initial investment of Rs.100 crore. It has become joint trustees of Sir Hurkisondas Nurrotumdas Hospital at Charni Road in Mumbai."|
|1998||"Reliance completed phase-II expansion of Hazira Petrochemicals Complex including world's largest multifeed cracker, PET plant, MEG plant, PTA plant, PE plant"|
|1998||"Dhirubhai Ambani was awarded the Dean's Medal by the Wharton School, University of Pennsylvania, USA, for setting an outstanding example of leadership."|
|1998||"Total Assets cross Rs. 35,000 crore (Rs. 35,445 crore) and Revenues cross Rs. 14,000 crore (Rs. 14,115 crore)."|
|1999||"In 1999-2000 RIL commissioned the world's largest 1.4 million tonnes per annum Paraxylene (PX) plant at its new integrated petrochemicals complex at Jamnagar which was planned at 1997-98. "|
|1999–2000||"Jamnagar Petrochemicals and integrated refinery complex commissioned. World's largest grassroots refinery - 27 million tpa refinery, the 5th largest in the world. World's largest PX Plant of 1.4 million tpa. World's largest PP Plant of 0.6 million tpa. World-class product handling, storage, and despatch facilities."|
|2000||"In 2000 Reliance commissioned the world's largest grassroots refinery in Jamnagar in a record 36 months. "|
|2000||" Group profits cross Rs. 2,500 crore mark, Revenues cross Rs. 20,000 crore mark (Rs. 21,541 crores) and Total assets cross Rs. 50,000 crore (Rs. 52,094 crores)."|
|2000–2001||"Reliance Industries Ltd. and Reliance Petroleum Ltd. became India's two largest companies in terms of all major financial parameters."|
|2001||"Group revenues cross Rs. 60,000 crore (Rs. 60,160 crores), Reliance becomes largest business group in India."|
|2001||"RPL raises $750 million syndicated loan – deal named capital market deal of the year by IFR Asia."|
|2001||"RIL and RPL become India's two largest companies in terms of all major financial parameters"|
|2001–2002||"Dhirubhai Ambani was conferred The Economic Times Award for Corporate Excellence for Lifetime Achievement."|
|2001–2002||"The merger of Reliance Petroleum Limited with Reliance Industries Limited was announced - largest ever merger in India - Reliance Industries became the largest private sector company in India on all major financial parameters including sales, profits, net worth, assets, and exports."|
|2001–2002||"Reliance signed MOU with DuPont Polyester Technologies to license the revolutionary resin technology NG-3 from DuPont. Reliance announced its plan for the expansion of PET capacity by 220,000 tonnes per year."|
|2002||"Reliance announced India's biggest gas discovery in nearly three decades and one of the largest gas discoveries in the world during 2002. The in place volume of natural gas is in excess of 7 trillion cubic feet, equivalent to about 1.2 billion barrels of crude oil. This is the first ever discovery by an Indian private sector company."|
|2002||"Reliance Infocomm to launch various telecom services on 28th December - beginning with Gujarat, the Infocomm revolution will cover thousands of villages and hundreds of cities across the country. Reliance Infocomm will become a major catalyst for changing the face of India and improving the quality of life of Indians."|
|2002||Recognition||RIL is recognized among ten most creditworthy companies in Asia.|
|2002||Financial||RIL becomes the first Indian private sector company to record Net Profit of over Rs. 1,000 crores in one quarter.|
|2003||Financial||RIL becomes the first Indian private sector company to record net profit of over Rs 4,000 crore in one financial year.|
|2004||Recognition||RIL becomes the first Indian private sector organization to be listed in the Fortune Global 500 list.|
|2004||"Reliance emerges 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 published in Business Today's October issue."|
|2004||"Reliance Industries concludes re–pricing of $687.50 million Syndicated Term Loan facilities."|
|2004||"In 2004-05 RIL acquired the polyester major Trevira GmbH headquartered in Frankfurt Germany which has the capacity of 130000 tonnes per annum of polyester staple fibers polyester filament yarns and polyester chips. "|
|2004||"Reliance signs EUR 116.2 million Export Credit Agency (ECA) backed Buyer's Credit Facility provided by Deutsche Bank. RIL avails an ECA cover for the first time in 22 years."|
|2005||RIL launches a US$348 million syndicated term loan facility, with aims at replacing existing high cost loans.|
|2006||Facility||RIL establishes a new export-oriented refinery through its subsidiary Reliance Petroleum Limited (RPL).|
|2006||RIL enters the organized retail segment through Reliance Retail with its first Reliance Fresh store in Hyderabad.|
|2006||"RIL places $300 million in US Private Placement Market. First ever Indian company to raise money through this route."|
|2006||" RIL places $300 million in US Private Placement Market. First ever Indian company to raise money through this route. RIL declares Dividend of 100%. Payout of Rs 1,393 Crore, Highest In Private Sector. RPL a subsidary of RIL completes its US$ 1.2 billion Initial Public Offering of equity shares with an overwhelming response across different classes of investors. Chevron to Purchase 5% Stake in RPL for $300 Million. Option to Increase Stake to 29%."|
|2007||February 15||Subsidiary||Reliance Jio launches as a subsidiary of RIL. It operates a national LTE network with coverage across all 22 telecom circles.|
|2007||April 1||Merger||Indian Petrochemicals Corporation Limited (IPCL) merges with RIL. Post merger, RIL’s share capital is expected to increase from Rs 1,393.5 crore to Rs 1,453.6 crore.|
|2007||September||Acquisition||RIL announces agreement to acquire assets of Malaysia’s leading polyester producer, Hualon Corp.|
|2007||" Revenue crossed Rs. 100,000 crore mark (Rs. 118,354 crore, US$ 27 billion), Net Profit crossed Rs. 10,000 crore mark (Rs. 11,943 crore, US$ 2.75 billion) and Total Assets crossed Rs. 100,000 crore mark (Rs. 117,353 crore, US$ 27 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 60,000 crore mark (Rs. 66,627 crore, US$ 15 billion), 12% of India's total exports. RIL declares Dividend of 110%. Payout of Rs 1,440 Crore, highest in the Indian Private Sector."|
|2008||April||"In April 2008 the company signed gas sales and purchase agreement (GSPA) with the customers in power sector for supply of natural gas to be produced from the KG-D6 block."|
|2008||"Revenue crossed Rs. 130,000 crore mark (Rs. 139,269 crore, US$ 34.7 billion), 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 sector. Exports crossed 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 Sector."|
|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."|
|2009||"A T Kearney lists RIL as one of the Top 25 Global Champion for 2009 which managed to outperform the competition in the midst of global financial meltdown."|
|2010||April||RIL commissions a 1 MW solar Photo Voltaic power plant at Thyagaraj Sports Complex in New Delhi.|
|2010||June||".In June 2010 the company entered into an agreement to acquire asubstantial stake in Infotel Broadband Services (P) Ltd which emerged as asuccessful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) Spectrum conducted by the DOT."|
|2010||August||"In August 2010 the company through their subsidiary Reliance Industries Investment and Holding Pvt Ltd acquired the equity shares of EIH Ltd representing 14.12% from Oberoi Hotels Pvt Ltd and certain other promoters at a total cost of Rs 1021 crore."|
|2010||December||"In December 2010 the company entered into a joint venture agreement with Russian petrochemical company SIBUR for the production of butyl rubber in India."|
|2010||"Revenue crossed Rs. 2,00,000 crore mark (Rs. 2,00,400 crore, US$ 44.6 billion), Net Profit crossed Rs. 16,000 crore mark (Rs. 16,236 crore, US$ 3.6 billion) and Total Assets crossed Rs. 2,50,000 crore mark (Rs. 2,51,006 crore, US$ 55.9 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 1,00,000 crore mark (Rs. 1,10,176 crore, US$ 24.5 billion), 14.5% of India's total exports. RIL declares Dividend of 70%. Payout of Rs 2,084 Crore, one of the highest in the Indian Private Sector."|
|2010||"RIL is ranked 68th in 2010, in the Financial Times' FT Global 500 list of the world's largest companies (up from previous year's 75th rank)."|
|2011||January||"In January 2011 the company's wholly owned subsidiary Reliance Ventures Ltd entered into an agreement with Infrastructure Leasing and Financial Services Ltd whereby IL&FS will become a strategic partner and co-promoter of a project which intends to develop a model economic township and other infrastructure facilities at Jhajjar in Haryana."|
|2011||February||". In February 2011 the company entered into a strategic partnership with BP which comprises BP taking a 30% stake in 23 oil and gas production sharing contracts that the company operates in India for a consideration of USD 7.20 billion and the formation of a 50:50 joing venture between the two companies for the sourcing and marketing of gas in India. "|
|2011||March||" In March 2011 the company and D E Shaw Group agreed to establish a joint venture to build a leading financial services business in India. This joint venture will incorporate the D E Shaw Group's investment and technology expertise with the company's operational knowledge and extensive presence across India to offer a comprehensive array of financial services to the Indian marketplace."|
|2011||April||RIL announces a rich natural gas discovery in the very first well it drilled on a deep sea block in the Cauvery basin.|
|2011||June 10||Acquisition||RIL and its associate Reliance Industrial Infrastructure Ltd enter into an agreement with Bharti Enterprises for acquiring Bharti's shareholding of 74% in Bharti Axa Life Insurance Co Ltd and Bharti Axa General Insurance Co Ltd. |
|2011||September||Reliance Security Solutions Ltd, a subsidiary of the company Siemens Ltd, sign a memorandum of understanding to jointly develop Homeland Security Solutions for Highways in India.|
|2011||November||Joint venture||RIL and British Petroleum announce the incorporation of India Gas Solutions Pvt Ltd, an equal-equity joint venture aimed at focusing on global sourcing and marketing of natural gas in India.|
|2011||Financial||"Revenue crossed Rs. 2,50,000 crore mark (Rs. 2,58,651 crore, US$ 58.0 billion), Net Profit crossed Rs. 20,000 crore mark (Rs. 20,286 crore, US$ 4.5 billion) and Total Assets crossed Rs. 2,80,000 crore mark (Rs. 2,84,719 crore, US$ 63.8 billion), unparalleled in the Indian Private sector. Exports crossed Rs. 1,40,000 crore mark (Rs. 1,46,667 crore, US$ 32.9 billion), 13.4% of India's total exports. RIL declares Dividend of 80%. Payout of Rs 2,385 Crore, one of the highest in the Indian Private Sector."|
|2012||January||"In January 2012, RIL announced India's largest share buy-back programme comprising buyback of up to 120,000,000 fully paid up equity shares of Rs. 10 each, at a price not exceeding Rs. 870 per equity share, payable in cash, up to an aggregate amount not exceeding Rs. 10,440 crore from the open market through stock exchange."|
|2012||February||" Ltd.In February 2012 the company and SIBUR have agreed to form a joint venture named Reliance Sibur Elastomers Pvt Ltd to produce 100000 tons of butyl rubber per year in Jamnagar India. " "In February 2012, RIL and SIBUR formed a JV to manufacture butyl rubber in India with targeted production capacity of 100,000 tonnes per annum. This JV will be the fourth largest producer of butyl rubber globally. RIL's share in the JV will total 74.9% while SIBUR will account for the rest."|
|2012||March||Recognition||RIL becomes the first Indian company to be certified as "Responsible Care Company" under stringent standards of American Chemistry Council. RIL's Petrochemical Business wins this accolade for its robust management system.|
|2012||May||"Reliance Industries LimitedNSE -1.10 % (RIL) has selected Irving, Texas based Fluor Corporation to perform project management services for its projects being executed at its Jamnagar refining and petrochemical complex in Gujarat."|
|2013||"RIL signed a US$ 2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India."|
|2014||May 29||Acquisition||RIL acquires control in Network18 Media & Investments Limited (NW18) including its subsidiary TV18 Broadcast Ltd.|
|2014||December 9||Joint venture||RIL announces a joint venture with China's Shandong Ruyi for RIL's textiles business which operates under the Vimal brand.|
|2015||December||Recognition||RIL wins 'energy Oscars' Platts Global Energy Award for robust corporate social responsibility role.|
|2016||April||"Reliance Jio has announced the launch of the Bay of Bengal Gateway (BBG), a 8,100 km cable system that will provide high speed connectivity to South East Asia and the Middle East. This would then link to Europe, Africa and Far East Asia via interconnection with existing cable systems"|
|2016||September||"RIL's wholly owned subsidiary Reliance Jio Infocomm announced the commencement of telecom services with `Jio Welcome Offer' in September 2016. "|
|2016||November 17||RIL and General Electric announce the signing of a global partnership agreement in the Industrial internet of things (IIOT) space to provide Industrial IOT solutions to customers in oil & gas fertilizer power healthcare telecom and other industries.|
|2017||September||Acquisition||RIL wins the bid to acquire the assets of Kemrock Industries and Exports Limited of Vadodara (Gujarat) as a part of its efforts to enter the composites business.|
|2017||Reliance Retail crosses US$5 billion revenue mark.|
|2017||June 15||"On 15 June 2017 RIL and BP announced that they are moving forward to develop the `R-Series' deep water gas fields in Block KGD6 off the east coast of India as first of three that are expected to be developed in an integrated manner producing from about 3 trillion cubic feet of discovered gas resources."|
|2018||RIL is ranked 148th on the Fortune Global 500 list of the world's biggest corporations as of 2018.|
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