RIL

A Mukesh Ambani group company, it is mainly engaged in the business of setting up/operating industrial infrastructure. Its main activities are providing services of transportation of petroleum products and raw water through its pipelines, construction machinery on hire and other infrastructure support services. The Company has its operations mainly in the Mumbai and the Rasayani regions of Maharashtra, Surat, and Jamnagar belts of Gujarat.

The company posted a disappointing set of numbers for Q4FY15. Income from operations was at Rs.22 crore, down 2% (YoY) and net profit came in at Rs.6 crore, down 15%. Costs rose 36%, led by a 40% rise in employee costs, 67% increase in operating costs and 50% rise in rent. EBITDA at Rs.9.5 crore was down 29%.

For FY15, income from operations rose 6% at Rs.90 crore and this was mainly on the back of increase in income from product transportation through pipeline and this was because the contract with RIL became effective from Q4. The major activity of the company is providing transportation and other services to RIL only and thus its fortunes are closely linked with that of its parent company, RIL, which holds 45.43% stake in the company.