Reliance Industries performance at a glance:

HIGHLIGHTS OF YEAR PERFORMANCE

• Revenue (turnover) increased by 8.1% to Rs.401,302 crore ($ 67.0 billion)
• Exports increased by 15.3% to Rs.275,825 crore ($ 46.0 billion)
• PBDIT increased by 2.7% to Rs.39,813 crore ($ 6.6 billion)
• Profit Before Tax increased by 5.8% to Rs.27,818 crore ($ 4.6 billion)
• Cash Profit increased by 1.0% to Rs.30,795 crore ($ 5.1 billion)
• Net Profit increased by 4.7% to Rs.21,984 crore ($ 3.7 billion)
• Gross Refining Margin of $ 8.1/bbl for the year and $ 9.3/bbl for the quarter
• Dividend of 95%, payout of Rs.3,268 crore ($ 545 million)

HIGHLIGHTS OF YEAR PERFORMANCE (RIL CONSOLIDATED)

• Revenue (turnover) increased by 9.3% to Rs. 446,339 crore ($ 74.5 billion)
• PBDIT increased by 7.1% to at `Rs.43,800 crore ($ 7.3 billion)
• Profit Before Tax increased by 9.7% to Rs. 28,763 crore ($ 4.8 billion)
• Cash Profit increased by 5.8% to Rs.33,980 crore ($ 5.7 billion)
• Net Profit increased by 7.7% to Rs.22,493 crore ($ 3.8 billion)
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FINANCIAL PERFORMANCE REVIEW AND ANALYSIS

 RIL achieved a turnover of Rs.401,302 crore ($ 67.0 billion) for the year ended 31st March 2014, an increase of 8.1%, as compared to Rs.371,119 crore in the previous year. Higher prices accounted for 7.7% growth in revenue while increase in volumes accounted for 0.4% growth in revenue. Exports were higher by 15.3% at Rs.275,825 crore ($ 46.0 billion) as against Rs.239,226 crore in FY 2012-13.

Higher crude oil prices resulted in 7.6% increase in cost of raw materials from Rs. 306,127 crore to Rs.329,313 crore ($ 55.0 billion) on Y-o-Y basis.

Revenues and raw material expenses were impacted by 10.4% depreciation of Indian rupee vis-a- vis US$.

Employee costs were at Rs.3,370 crore ($ 562 million) as against Rs.3,354 crore in the previous year.

Operating profit before other income and depreciation increased by 0.3% on a Y-o-Y basis from Rs.30,787 crore to Rs.30,877 crore ($ 5.2 billion) due to higher contribution from the petrochemical and refinery business partly offset by lower contribution from the upstream oil & gas business.

Other income was higher at Rs.8,936 crore ($ 1.5 billion) as against Rs. 7,998 crore in the previous year, mainly on account of higher liquid investments.

Profit after tax was higher by 4.7% at Rs.21,984 crore ($ 3.7 billion) as against Rs. 21,003 crore in the previous year.

Basic earnings per share (EPS) for the year ended 31st March 2014 was Rs.68.0 against Rs.64.8 in the previous year.

Outstanding debt as on 31st March 2014 was Rs. 89,968 crore ($ 15.0 billion) compared to Rs.72,427 crore as on 31^st  March 2013.

RIL had cash and cash equivalents of Rs.88,190 crore ($ 14.7 billion). These were in bank deposits, mutual funds, CDs and Government securities / bonds.

The net addition to fixed assets for the year ended 31st March 2014 was Rs. 35,210 crore ($ 5.9 billion) including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansions projects in the petrochemicals and refining business at Jamnagar, Dahej, Silvassa and Hazira.

RIL’s Gross Refining Margin (GRM) for FY14 was at $ 8.1/bbl as against $ 9.2 /bbl in the previous year. GRMs improved sharply in 4Q FY14 to $ 9.3/bbl as compared to $ 7.6/bbl in the previous quarter.

ORGANISED RETAIL

Reliance Retail achieved record performance in sales and profits for the year. Total revenue grew by 34% to Rs.14,496 crore and achieved PBDIT of Rs.363 crore for the year. This achievement was in spite of the continued challenging macroeconomic environment.

 The Retail business has established market leadership in mostly all of the sectors it operates in. The company added 225 stores and 2.7 million operating square feet in the year across the sectors. As on 31st March 2014, Reliance Retail operated 1,691 stores across 146 cities, with 11.7 million of operating square feet.

BROADBAND ACCESS

RIL’s subsidiary, Reliance Jio Infocomm Limited (“RJIL”), which is the only private player with Broadband Wireless Access spectrum in all the 22 telecom circles of India, plans to provide reliable fast internet connectivity and rich digital services on a Pan India basis.

From less than 700 employees last year, most of them based in RJIL’s Navi Mumbai campus, the RJIL team has grown rapidly to a national footprint of over 3,000 employees today.

RJIL has been granted Unified License for all 22 Service Areas across India by the Department of Telecom (DoT) to become the first telecom operator in the country to get pan India Unified License. The Unified License would allow RJIL to offer all telecom services including voice telephony under a single license.

RJIL was allotted MSC, MCC & MNC codes for Mobile Access Services across all 22 circles by the DoT providing it with about 22 million mobile phone numbers across India to provide mobile access services.