From the COO’s Desk
Vipul Shah
COO – Petrochemicals Business
Sustainability and circularity concepts are embedded in everything we do at Reliance Industries Ltd’s PetChem business. As an Industry leader, we work with industry players to instill concepts of sustainability & circularity throughout textile value chain. One of the guiding principles at RIL enshrined by our Chairman Mukeshbhai is to incorporate sustainability into the design element of any project.
Reliance had started practicing sustainability even before the words sustainability and circularity entered into our day to day vocabulary. Reliance recycles PET bottles for over two decades now, and there are many such initiatives.
The following examples emphasise our thrust of R&D on improving existing products and processes and finding new avenues with focus on deploying more cost effective, efficient - sustainable and circularity concepts.
RIL's key sustainable and circularity concept-based initiatives are.
- Recron GreenGold
- R|Elan GreeenGold
- Circular Design Challenge
- The EarthTee
- #RecycleForLife initiative
- R|Elan regular fashion event at Lakme Fashion Week
About
COMPANY BACKGROUND
A significant global player in the integrated energy value chain, RIL recorded a consolidated turnover of ₹622,809 crore ($90.1 billion), cash profit of ₹64,478 crore ($ 9.3 billion), and net profit of ₹39,588 crore ($5.7 billion) in FY 2018–19.
In 2019, RIL became India’s largest company in the Fortune Global 500 list of ‘World’s Largest Corporations’. It currently ranks 106th in terms of both revenues and profits. The company stands 71st in the ‘Forbes Global 2000’ rankings for 2019 – the top-most among Indian companies. It ranks 10th among LinkedIn’s ‘Top Companies Where India Wants to Work Now’ (2019).
RIL has always been committed to the Common Man. Surging forward through backward vertical integration and raising money from the masses, it went on to become India’s largest company. RIL took its policy of backward vertical integration to an altogether different plane when it diversified from textiles and petrochemicals into petroleum refining, and forayed into oil & gas exploration and production.
RIL owns and operates one of the most integrated petrochemicals facilities globally, with a portfolio comprising polymers, polyesters, fibre intermediates, aromatics and elastomers. The company provides world-class experiences to its customers across a range of applications—packaging, agriculture, automotive, housing, and healthcare among others. Among the top 10 producers for key petrochemicals, RIL holds leadership position across product categories globally.
In 1999, RIL set up the world’s largest grassroots refinery at Jamnagar, Gujarat. A second refinery followed in 2009. Currently, the combined Jamnagar refining hub processes 1.40 million barrels of crude a day—the maximum at any single location globally. These refineries process a wide variety of crude oils and produce a range of petroleum products for exports as well as supply in the Indian market. RIL’s refining business continues to outperform with premium over Singapore refining margins, demonstrating operating excellence and healthy industry fundamentals. In addition, the company operates 1,385 petroleum retail outlets across the country.
Keeping with its commitment to sustainability and growth, RIL through its CSR arm—Reliance Foundation (RF)—is working wonders in areas of rural transformation, health, education and sports for all (ESA), disaster response, urban renewal, and arts, culture and heritage. The Foundation has touched the lives of more than 34 million people across India, in more than 20,000 villages and several urban locations.