Colli Real Estate

The turnover exceeding R 100000 EIR nine months with record profits quarter

Reliance Industries Limited (RIL) today announced financial results for the nine months ended 31 December 2007. According to UN-audited financial results RIL shows strong growth in each segment compared with the period prev.

The total turnover increased by 13% in remote sensing. 100.572 billion rupees (25.5 billion U.S. dollars U.S.) and increased profits 51% cash in remote sensing. 19.714 million rupees (U.S. $ 5.0 billion). Net profit (including exceptional item) increases by 77% Rs 15.546 million rupees (U.S. $ 4.0 billion), the exceptional income of Rs 4.733 million rupees (1.2 billion U.S. dollars U.S.). Non-profit revenue (excluding exceptional items) increased 29% in remote sensing. 11.349 million rupees (2.9 billion U.S. dollars U.S.) and refining of crude for the year rargin 07/08 fiscal 3Q was $ 15.4 Bbl / and for FY 07/08 is 9M U.S. $ 14.9 per barrel.

Commenting on the results, Shri Mukesh D. Ambani, CMD, Reliance Industries Limited, said: "I am pleased to report that dependency continues to surpass previous records of financial results. The quality of our manufacturing assets and our people recognized through various awards and recognition we have received in the recent past. The new growth platforms around oil and gas, organized initiatives, retail and agribusiness in the movement and the initial response to these initiatives have been very encouraging. Each of these initiatives does address the imperatives economic and social aspects of India. "

During the nine months ended 31 December 2007, the refinery processed 23.7 million tons and reached an exploitation rate of 96%. Petrochemicals production grew 4% to 14.5 million tonnes against 14.0 million tonnes in the corresponding period last year.

The company reserved issue 6,96,75,402 equity shares of Rs.10 each to provide eligible employees of the Company and its subsidiaries in the employee Stock Option Plan (ESO). During the year 2006-07, the Company has granted 2,87,28,000 Options to eligible employees of the subscription number equivalent pay equity shares of the Company. During the period ended 31 December 2007, the Company has also granted 10,35,000 options under the terms of the ESOs.

Earnings per share (EPS) for the nine months was Rs 107.0 ($ 2.71). Winning by share (EPS) excluding exceptional item, for the nine months period was Rs 78.1 (U.S. $ 1.98) cons RS. 60.5 years for the period previous question. The outstanding debt at December 31, 2007 was Rs 31.553 million rupees ($ 8.0 U.S. dollars) compared to Rs 27.826 million rupees March 31, 2007. Net debt as of December 31, 2007 was 21.8% compared with 25.2% in March 31, 2007. RIL maintained, internal credit rated and AAA CRISIL Fitch. During the same period, Moody's and S & P affirmed the assessments of investment, international debt of RIL, as BBB and Baa2, respectively.

During the period under review, RIL incurred capital expenditure of RS. 13.891 million rupees (3.5 billion U.S. dollars U.S.). With the completion of expansion plans important in refining and petrochemicals, capital spending has been largely oil and gas initiatives. Capital expenditure of Rs common. 1.714 billion rupees (435 million dollars) during the nine months was due primarily to the purchase of real estate offices.

This was another memorable time EFI for the Oil and Gas Exploration and Production has produced many great achievements. The group of power to ministers (Egoman) has approved the pricing formula for the sale of gas from KG D6. RIL has announced two new gas discoveries (wells: KG-III-05-P1 and KG-III-05-J1) in the Miocene clastics reservoir in the Krishna basin offshore on the east coast of India in the shallow water block, KG-OSN-2001 / 1, which has an area of 1,100 square kilometers. Four new discoveries too MD1 kg block-D4, Well CY-III-D5-A1 in block CY-III-D5, Well KGD6-R1 in block KG D6 and GS01 and GS01-B1 in block. RIL has also submitted development plans for the block and NEC25 MA oil fields (KG D6) in the DGH for approval. The development plan for Sohagpur CBM blocks (East and West) was approved by the DGH.

RPL completed successful second year of implementation of its refinery project with an overall project progress of 82%. Based on progress so far, RPL expects to complete the refinery project before its original schedule in December 2008.

International activity consists of 10 islands covering an area of about 80,000 kilometers square – 2 each in Yemen, Oman, Kurdistan and Colombia, 1 in East Timor and Australia. Also, the unit also has 25% stake in a block production in Yemen. With these blocks, about 70% of the total area of international dependency, is scheduled to be in the border areas of the deep sea. A number of international upstream opportunities are encouraged in Africa, Middle East and Asia Pacific and are in various stages of negotiation.

The third quarter of fiscal 2007-08 has been eventful quarter for Reliance Retail. This quarter saw the launch of 6 new formats. In addition, RRL had concluded an alliance with Apple to create a specialty retailer of Apple-branded as iStore. This is the first alliance of SDRs with an international brand. This was launched iStore during the first quarter in Bangalore.

Reliance Fresh started the quarter with 329 stores and opened an additional 112 stores to end the quarter with 441 stores in over 45 cities. As to date there are 453 operational unit Fresh stores across India.

The new formats launched by RRL this quarter Dependence are the trends, Reliance Footprint, Reliance Wellness, Reliance TimeOut, Reliance Jewels and Reliance Super. Reliance Digital launched 2 additional stores in Bangalore, Navi Mumbai, and covering respectively the total dependence on digital stores to 3. In the months of October and November, Reliance Trends, a specialty clothing store sales Man " Women's and children's clothing has been launched in Gurgaon and Delhi. RRL also opened its chain of shops offering specialist Wellness preventive, curative and solutions Beauty under the brand of welfare dependence in the cities of Hyderabad and Bangalore.

In December 2007, RRL launched another specialty format in Bangalore, with a wide range of goods in books, music, stationery, toys and gifts under the brand Reliance Timeout. This quarter also saw raid dependency, jewelry and brand under the brand name of Reliance Jewels in Bangalore. RRL closed this quarter by opening its sessions format, Super dependence, Amrtisar.

With the launch of new formats, RRL now operates 9 different formats across India.The accession RelianceOne loyalty continues to grow and has crossed over 2 million loyal customers.

During the nine-month period, demand for petroleum products nationwide increased by 5.9% during the same period last year. Demand for HSD, which represents the third of the consumption of petroleum products rose 9.8% while demand for MS was higher by 11.6%. Demand alternative fuels increased by 15.1% and LPG by 7.5%. The sales fell 15% naphtha and kerosene also decreased slightly during the period under review. The domestic marketing margins and HSD Member States remain under pressure due to the lack of equal conditions for private sector marketing. The period saw the high prices of crude oil without any improvement in the price of domestic sales. RIL is currently maintaining of a price differential of Rs. 5.0 liters compared to the price of retail PSUs' in the HSD and SRM. 4.50 per liter for the States in India.

RIL added 44 points for retail sale during the period, assuming a total number of outlets for retail sale in 1429. To capture the growth opportunity in the area of the ATF, LIR is present in 13 airports in India and is now fueling the major airlines. Working to 4 other airports is at an advanced stage of preparation. All major domestic airlines and some major international airlines (United Arab Emirates and Qatar Airways) began refueling station refueling EFI.

The quarter saw volatility in global refining margins on the back of rising crude oil prices. Refinery margins in the benchmark U.S. Gulf Coast (WTI) fell by 8.6 $ / barrel to $ 3.4 / Barrel from one quarter to another quarter, primarily due to weakness in gasoline cracks. However, reference margins complex in Singapore has increased from 6.4 $ / Bbl to 7.7 barrels $ / due mainly to near-record jet / kerosene and diesel cracks. Naphtha cracking propylene, but prices also remained stable major. Light – Heavy differential remained in the U.S. U.S. $ 5 per barrel.

The configuration of the RIL Jamnagar refinery has the flexibility to focus in the production of middle distillates (diesel and jet / kerosene) where margins remained firm with strong global demand.

For the period under review, revenues for the petrochemical sector rose 3% to Rs 37.799 million rupees to Rs 38,880 crore. The commodity prices continued to weigh on business petrochemicals. However, strong domestic demand has reduced the magnitude of the impact of high prices of food stocks for an integrated producer, such as EFI. During the quarter, increasing margins reduces cracking of the polyester chain. For xylene and PTA margins were lower compared with the corresponding period the previous year. In addition, the unit in Jamnagar for xylene was scheduled to close 19 days in December 2007 leading to lower production. All Products Polyester been strong domestic demand
growth.

Production volumes Polyester (PFY, PSF and PET) increased 5% to 1.168 million tonnes. The production of new polyester plant has been placed successfully in the market. RIL has maintained its focus on specialty products represent 54% and 39% of production of PSF and PFY respectively. RIL now has a market share of over 51% polyester. RIL's polyester intermediates (PX, PTA and MEG) production increased 10% to 3480 thousand tons during the period of nine months. The increase is attributable to production 730 miles from New tonnes PTA plant at Hazira which was commissioned in 2Q FY 2006-07, partially offset by the planned closure of the unit at Jamnagar in xylene for Q3 fiscal 2007-08. National market share in polyester intermediates unit was 79%.

During the period, RIL signed an agreement to acquire the assets of Hualon, Malaysia. Hualon is a leading producer in Malaysia with polyester fiber polyester (resin and son) and the manufacturing capacity of half a million tonnes per year, with the ability of downstream textile manufacturing, spread over two sites in Malaysia, namely Nilai and Malacca. Pending the transfer of assets through its subsidiary Reliance started its operations with the use of assets during the quarter.

Polymer production experienced steady growth in the total production volumes of PP, PE and PVC over 4% to 2.514 million tonnes. Increased production is attributable to the total impact of the new PP plant at Jamnagar and also to stop the scheduled maintenance of the cracker and downstream plants at Hazira during the corresponding period last year. RIL continues be the largest Indian producer of polymers, a national market share of 69%. The polymer market experienced exciting growth with increasing demand 16% during the corresponding period of previous year. The growth was observed in polymers – PP demand grew 17%, PE demand has risen 21% while PVC demand has increased by 11%. The increased demand was largely the end-use segments, such as flexible packaging, infrastructure, cables, goods consumer durables and agriculture.

During the period under review, production of Linear Alkyl Benzene (LAB) was unchanged at 128 thousand tons. The trust has a market share of 38% in national LAB. The butadiene plant produces 130 thousand tons, exceeding 13% over the same period last year.

During the quarter, retail digital unit Reliance Brands Private Limited Limited Limited Health Unit, Reliance Footprint Limited, Integrated Agri Solutions Private dependence Limited, Reliance Trends Limited, a unit of Lifestyle Holdings Private Limited, Reliance Universal Private Limited companies, Reliance AutoZone Private Limited, Strategic Solutions Private Limited Human Resources Unit Limited Gems and Jewels Delight Proteins Private Limited, Unit F & B Services Private Limited, Reliance Agri Products Distribution Private Limited, Reliance Entertainment Private Limited, Reliance Retail and Private Brokerage Company Limited, Reliance Home Store Private Limited, Reliance Trade Center Services Private Limited, Reliance Food Processing Solutions Private Limited, Reliance Supply Chain Solutions Private Limited, Reliance Digital Media Private Limited, loyalty and dependency Analytics Private Limited have become subsidiaries of the Company.

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