Reliance is India’s largest and most profitable private sector company. Reliance continues to be a significant global player in the integrated energy value chain while establishing leadership positions in the retail and digital services business in India.
Reliance Industries Ltd (RIL) has been the highest tax payer with the company contributing more than Rs 1,15,461 crore to the national exchequer in FY 2019-20.
Reliance Industries has contributed Rs. 1,15,461 crore (Rs. 1,16,251 Cr in 2018-19) to the National Exchequer in reviewed year.
Company emerged as highest tax payer of customs and excise duty in the private sector, the company’s annual report revealed.
During the year the company provided direct employment to 1,95,618 people, report said.
Reliance spent Rs. 1,022 crores on CSR (Corporate Social Responsibility) programmes and projects during the financial year (FY) 2019-20, complying CSR Law under Companies Act, 2013.
The company has contributed Rs. 556 crore. to the PM CARES fund and various state andother relief funds.
Company has invested Rs 2,538 crore in R&D.
Report said that company has planted more than 2.2 saplings till date and has rainwater harvesting capacity of over 9.9 crore cube meters.
RIL has now become net debt-free.
Reliance achieved consolidated revenue of Rs 6,59,205 crore (US$87.1 billion), an increase of 5.4%, as compared to Rs. 6,25,212 crore in the previous year. Increase in revenue was primarily on account of higher revenue from Consumer Business. Reliance’s consolidated revenue was boosted by robust growth in retail and digital services business, which recorded an increase of 24.8% and 40.7% in revenue, respectively as compared to the previous year, report said.
As per the report, Consolidated EBITDA for the year increased by 10.4% on a y-o-y basis to Rs. 102,280 crore as compared to Rs. 92,656 crore in the previous year. Consolidated EBITDA nearly doubled in the last five years. Profit After Tax (excluding exceptional items) was higher by 11.3% at Rs. 44,324 crore (US$5.9 Billion) as against Rs. 39,837 crore in the previous year.
The global economy grew at 2.4% in CY 2019, slowing from 3% in CY 2018 amid global trade war, tariff related uncertainties, and Brexit. The Indian economy grew by 4.2% in FY 2019-20 still remaining one of the fastest growing major economies in the world. Industrial activity remained healthy in the beginning of the year, but saw some weakness later.
(Rusen Kumar is the founder and managing editor of India CSR. He regularly writes on Sustainability, Corporate Governance, Corporate Social Responsibility – CSR.)
CopyRight@IndiaCSRNetwork.
