Mukesh Ambani, Chairman, Reliance Ind
Mukesh Ambani joined the Reliance in 1981 and initiated reliance backward integration from textiles to polyester fibres and further into petrochemicals.Updated: Jan 24, 2006 17:46 IST
Mukesh Ambani is the chairman and managing director of one of the largest private sector companies in India.
The Reliance groups activities spaned exploration, production, refining, marketing of oil and gas, polyester, textiles, power, telecom and financial services.
However, in June 2005, Mukesh reached a settlement with younger brother Anil Ambani to split between themselves assets of India's largest private sector conglomerate, with over Rs 97,000 crore (Rs 970 billion) in revenues, founded by their late father Dhirubhai.
While the control of the flagship arm - Reliance Industries - along with IPCL remained with Mukesh, Anil took Reliance Energy, Reliance Capital and Reliance Infocomm.
Reliance Industries Ltd is the second largest company by market capitalisation on the Bombay Stock Exchange after ONGC, having an m-cap of Rs 83,729.05 crore (Rs 837.290 billion) as on June 17, 2005.
The company, with net profits of Rs 7,572 crore (Rs 75.72 billion) for the year ended March 31, 2005, operates the world's third largest refinery in a single location, in Gujarat, with a capacity of 660,000 barrels per day.
RIL, in which foreign funds holding is 21.55 per cent, is expanding its petrochemicals capacity to over 14 million tonnes per annum (mtpa) from 12 mtpa in the next few years to become the world's largest producer of polyester yarn and fibre.
It has struck gas in the Krishna Godavari basin and has in place reserves of an estimated 14 trillion cubic feet.
Indian Petrochemicals Company Ltd, with net profits of Rs 786 crore (Rs 7.86 billion) in FY 05, is India's second-largest petrochemicals company, operating a naphtha-based petrochemicals complex and two gas-based complexes.
Mukesh Ambani joined the Reliance in 1981 and initiated reliance backward integration from textiles to polyester fibres and further into petrochemicals. In the process he created 51 new companies, raising the manufacturing capacity from less than a million tons to 9-million tons.
Ambani directed the creation of the world's largest grass roots petroleum refinery in India and is credited with bringing financial innovations into the Indian capitol markets as well as pioneering India's entry into overseas capital markets.
Ranked 42nd among the 'World's Most Respected Business Leaders' and second among the four Indian CEOs featured in a survey conducted by Pricewaterhouse Coopers and published in Financial Times, London, November 2004.
The London Financial Times honoured Ambani as one of the top 50 most respected leaders of the world. Ambani holds a Bachelor of Chemical Engineering degree from the University of Bombay and attended the Stanford Business School.
He was conferred the World Communication Award for the 'Most Influential Person in Telecommunications in 2004' by Total Telecom, October, 2004.
First Published: Jan 24, 2006 17:46 IST