Reliance Industries reports revenue of Rs 151,209 crore in Q4 FY 20

In addition to the FB investment, the Board was informed that RIL has received interest from other strategic & financial investors and is poised to announce a similar-sized investment in coming months

e4m by exchange4media Staff
Published: Apr 30, 2020 7:46 PM  | 5 min read
RIL

Reliance Industries Limited (RIL) reported its financial performance for the year ended 31st March 2020. Highlights of the audited financial results as compared to the previous periods are:

Highlights of the quarter's performance (Consolidated)

  • Revenue decreased by 2.5% to Rs 151,209 crore ($20.0 billion)
  • EBITDA increased by 7.6% to Rs 25,886 crore ($3.4 billion)
  • Profit Before Tax (before exceptional item) decreased by 2.7% to Rs 13,490 crore ($1.8 billion)
  • Cash Profit increased by 12.8% to Rs 18,446 crore ($2.4 billion)
  • Net Profit excluding exceptional items increased by 3.7% to Rs 10,813 crore ($1.4 billion)
  • Net Profit including exceptional items decreased by 37.2% to Rs 6,546 crore ($0.9 billion)

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “As India and the world grapple with the biggest challenge faced by our generation, I am heartened by the robust response of Reliance to the extraordinary circumstances created by the COVID-19 pandemic."

"I firmly believe that nothing is more valuable in this world than the value of human life — the value of each and every human being, irrespective of their social or economic background. Therefore, the highest act of value-creation lies in saving human life, ensuring human health, and enhancing human wellbeing and happiness. We at Reliance judge and measure our success, both in our business and philanthropic activities, solely on the basis of this moral matrix."

"Reliance is and will continue to be, guided by this philosophy in India’s battle against the COVID-19 pandemic. We have been tirelessly working on multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient. RIL has deployed the combined strengths of Reliance Foundation, Reliance Retail, Jio, Reliance Industries, and all the members of the Reliance Family in a well-coordinated manner with the efforts of both Government (at the central, state and local levels) and Civil Society in India."

He continued, "I take this opportunity to also commend the important contribution of all constituents of the Indian industry and business to India’s national endeavour to overcome the corona calamity."

"Today I am pleased to announce that despite the daunting challenges arising from the fallout of the global pandemic, our company has once again delivered a resilient performance for FY 2019-20. Our O2C (Oil to Chemicals) businesses delivered sustained earnings due to its integrated portfolio, cost-competitiveness, feedstock flexibility and product placement capabilities. We continue to operate all our major facilities at near-normal utilisation levels."

Ambani added, "Our consumer businesses further strengthened their leadership positions and recorded robust growth on all operating and financial parameters during the year. Both Retail and Jio, continue to work towards providing superior products and services to Indian consumers."

"We are fully committed to our investment plans in our consumer businesses and new initiatives. We are at the doorsteps of a huge opportunity and our rights issue and all other equity transactions will strengthen Reliance and position us to create substantial value for all our stakeholders."

"Indeed, converting the corona crisis into a new opportunity, Reliance will innovatively step up its plans to create much greater societal and shareholder value. I am confident that our India and Reliance will emerge stronger in the post-COVID-19 world.” Corona Haarega, India Jeetega!”

In addition, the Board approved Mukesh Ambani’s proposal to forego his entire salary until the impact of Covid-19 abates. In light of the COVID-19 outbreak in India, which has exacted a huge toll on the societal, economic and industrial health of the nation, Mukesh Ambani, the Chairman and Managing Director, has voluntarily decided to forego his entire salary.

The Chairman had his salary capped at 15 crores since 2008-09 in order to set a personal example of moderation in managerial compensation levels. And now, he is forgoing his salary until the company and all its businesses are fully back to their earnings potential. The company is taking all necessary measures to optimize costs and mount an effective operational response to COVID-led exigencies.

The Board was also informed that the company expected to complete the capital raising programme totalling over Rs 1.04 lakh crore by Q1 of the current financial year. This includes the investment by Facebook in Jio Platforms, the upcoming rights issue and the previous investment by British Petroleum in FY2019-20.

In addition to the FB investment, the Board was informed that RIL has received strong interest from other strategic and financial investors and is in good shape to announce a similar-sized investment in the coming months. This establishes the attractiveness of Jio Platforms to the world and is a strong validation of RIL’s capability to conceive large-scale disruptive greenfield businesses. With strong visibility to these equity infusions, the Board was informed that RIL is set to achieve net-zero debt status ahead of its own aggressive timeline.

In the financial year 2019-2020, the company achieved consolidated revenue of Rs 659,205 crore ($87.1 billion), an increase of 5.4% as compared to Rs 625,212 crore in the previous year. Increase in revenue is primarily on account of higher revenues from the Consumer businesses.

Digital Services business and Retail business recorded an increase of 40.7% and 24.8%, respectively, in revenue as compared to the previous year. Revenues for the Refining and Petrochemicals business declined in line with a fall in average oil and product prices for the year. Average Brent oil price declined 13% Y-o-Y, while realisations for key petrochemical products declined by 15%-32% Y-o-Y. This was partially offset by higher crude throughput and petrochemicals production during the year.

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Manja wins integrated digital creative mandate for Taco Bell

The account was earlier with BBH India

By Tanzila Shaikh | Mar 16, 2023 4:33 PM   |   1 min read

Manja
Sources have confirmed to exchange4media that Manja has won the integrated digital creative mandate for Taco Bell, the world’s largest Mexican-Inspired quick-service restaurant chain. The creative agency was launched by BBH's Arvind Krishnan and Leo Burnett's Prajota Guha Thakurta in July 2022.
The account was previously with BBH India, which was awarded the mandate in 2019. Manja will be the agency on record from now on.

Taco Bell, which has been leveraging influencer marketing, collaborated with youth icon and gaming enthusiast Rannvijay Singha in 2021 for the #CravingMeetsGaming experience through a virtual Game Session in the racing game Forza Horizon 4. In the same year, they also did #ISeeATaco campaign as well. 

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Former Rajya Sabha MP Syed Zafar Islam joins enba jury

He is the national spokesperson for the BJP and a former member of the upper house of parliament from the Uttar Pradesh constituency

By exchange4media Staff | Mar 16, 2023 8:40 AM   |   1 min read

enba

Syed Zafar Islam former Rajya Sabha MP, and politician with the Bharatiya Janata Party has joined the enba Jury Panel.

He is the national spokesperson for the BJP and a former member of the upper house of parliament from the Uttar Pradesh constituency. He has previously been an investment banker and managing director at Deutsche Bank.

He was appointed as the non-official independent director of Air India 2017. Zafar Islam frequently writes opinion pieces on economic and political affairs in national publications like the Hindustan Times.

The enba jury this year will be led by Sunil Arora, a senior bureaucrat, and former Election Commissioner of India.

In the last editions, the ENBA jury was led by Sh. Harivansh Narayan Singh – Deputy Chairman, Rajya Sabha, Dr. Kiran Karnik – Former President – Nasscom, Dr. Nasim Zaidi - Former Chief Election Commissioner of India, S.Y. Quraishi – Former Chief Election Commissioner of India, N. Ram – Chairman, Kasturi & Sons Ltd., Former Editor–in-chief The Hindu and Group Newspapers, Sanjay Gupta – Managing Director – Star India.

exchange4media formulated enba in 2008 with the objective of recognizing the best in television news, and to reward industry leaders who are responsible for shaping the future of television broadcasting in India.

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Oscars 2023: RRR, The Elephant Whisperers win big for India

'Naatu Naatu' clinched a win for 'Original Song', and 'The Elephant Whisperers' bagged the golden statuette for 'Best Documentary Short Film' at the 95th Academy Awards

By exchange4media Staff | Mar 13, 2023 9:00 AM   |   1 min read

elephant whisperers

India has bagged its first Oscars for 2023 for the Netflix documentary movie ‘The Elephant Whisperers’ at the 95th Academy Awards for 'Best Documentary Short Film'. Kartiki Gonsalves and Guneet Monga the director-producer team behind the film have dedicated the win to India. SS Rajamouli's period action blockbuster 'RRR' also clinched a win for Original Song "Naatu Naatu."

The 40-minute documentary is centred on the bond between animals and humans and tells the story of a Tamil couple named Bomman and Belli who bring up an orphaned elephant named Raghu. The film reflects upon the struggles of the couple who fight against all odds to raise the elephant into a healthy juvenile. The film is set in the Mudumalai National Park in Tamil Nadu.

The Telugu hit song was competing with "Applause" from "Tell It Like a Woman", "Hold My Hand" from "Top Gun: Maverick", "Lift Me Up" from "Black Panther: Wakanda Forever" and "This is a Life" from "Everything Everywhere all at Once."

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Rohit Jawa: Meet the new CEO of HUL

Jawa is presently the Chief of Transformation for Unilever in London

By Ruhail Amin | Mar 10, 2023 5:11 PM   |   2 min read

rohit jawa

Rohit Jawa is all set to join as the CEO designate and whole-time director for HUL from April 1, 2023, and will also take over as the president of Unilever South Asia. He will join the Unilever Leadership Executive (ULE) on April 1, 2023.


Who is Rohit Jawa?

Rohit Jawa is presently the Chief of Transformation for Unilever in London since January 2022. Jawa started as a management trainee in 1988 and has worked in the company across India, South East Asia and North Asia.

He started his career with HUL as a management trainee in 1988 and has a proven track record of sustained business results across - India, South East Asia, and North Asia. As EVP for North Asia & Chairman for Unilever China, he led a significant transformation of Unilever China into a competitive, profitable, and consistent business, now Unilever’s 3rd biggest globally.

He was also the Chairman of Unilever Philippines where he led the business to become one of the top 10 markets for Unilever globally.

In a statement, HUL said, "Rohit’s ability to integrate the strength of traditional markets with digital technologies and future-fit business models, positions him well to take HUL into its next growth phase."

Having done a Bachelor of Science from St. Stephens College, Delhi and an MBA from Faculty of Management Study (1986-88), Jawa recently got an Executive Education Certificate in Advanced Management Program, Business Administration and Management, General from Harvard Business School.

In 1988, Jawa started his career with HUL as a management trainee and has a proven track record of sustained business results across - India, South-East Asia, and North Asia. In June 1988, he became General Manager for the Western Region in-charge of the sales and operations.

After staying in the role for nearly 16 years, he became Vice President for Unilever Vietnam from May 2004 to Oct 2006. He was Head of the Home Care business and Marketing function for Unilever Vietnam.

Jawa, throughout his marketing career, has contributed to the industry in the Asian region, including serving as an expert speaker and judge in several regional advertising and marketing forums. Internationalist Magazine recognised him as one of 'The Asia 50' marketers in 2013. He was also awarded the 'CEO Excel' Award for 2015 by the Philippines chapter of the International Association of Business Communicators for leadership in business communication.

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Rezolve secures $250 million in capital commitment from Yorkville Advisors

The proceeds will go into working capital and corporate purposes

By exchange4media Staff | Mar 2, 2023 10:00 AM   |   1 min read

rezolve

Mobile commerce and engagement platform Rezolve has secured $250 million in capital commitment from private alternative investment group Yorkville Advisors in the form of a share subscription facility.

Under the terms, Yorkville will invest $250 million in equity capital for a 36-month term following a public listing of Rezolve’s common stock. While Rezolve will not be obligated to draw the full $250 million, it can do so in part or in whole at its own discretion.

The timing and amount of all the drawdowns will be controlled by Rezolve, which will issue stock to Yorkville on each drawdown. The proceeds will go into working capital and corporate purposes.

“The Yorkville facility will provide significant access to capital upon the closing of our planned merger with Armada,” commented Dan Wagner, Founder and Chairman of Rezolve.

“Rezolve is an exciting and fast-growing business with a global appeal. They have developed impressive technology that can make a real and sustainable impact in the markets they serve,” commented BJ Arnold, Managing Director Yorkville Advisors.

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Ex-DDB Mudra leaders start new agency — Fundamental

The three co-founders — Pallavi Chakravarti, Nishant Saurabh & Anand Murty — will lead the agency as CCO, CEO, and CSO respectively

By Neeta Nair | Mar 2, 2023 8:43 AM   |   3 min read

fundamental

exchange4media has learned that Pallavi Chakravarti, Nishant Saurabh, and Anand Murty, who quit DDB Mudra last year, have come together to launch their own creative agency, ‘Fundamental’. The three co-founders will lead the agency as CCO, CEO, and CSO, respectively.

‘Fundamental’ is three traditional, yet non-conformist minds, pooling in two decades of experience each to ‘make advertising great again’. ‘Basics’ are at the core.

Confirming the development, Pallavi Chakravarti, Co-founder and CCO, Fundamental says, “We’re looking to make advertising that serves the brand and not its makers alone. Unfashionable? Perhaps. But necessary? Absolutely! And we’re hoping that when people see the magic at work, they’ll rediscover that creativity in advertising is a basic necessity – right up there with roti, kapda, makaan and WiFi, and not an indulgence.”

Chakravarti brings to the table two decades of creative insights gathered while leading brands such as Marico's Set Wet, Unilever, J&J, P&G, Diageo, Star Sports, Cipla, Myntra, Meesho, Acko, Aquaguard, Uber, Instagram, Pepsi, McDonald's, The Times of India, and more. Most recently, she was Creative Head - West for DDB Mudra.

Nishant Saurabh has worked across networks and geographies to nurture and grow brands such as Asian Paints, Coca-Cola, Nescafe, Tata Docomo, Microsoft, Mastercard, Greenlam, Maaza, Minute Maid, Nissan, Airbnb, Gillette, Pantene, Raymond, Meta, Instagram, Meesho, Acko, Stayfree, and Oral-B among others. True to the idea behind ‘Fundamental’, Saurabh who was recently the Head of Business at DDB Mudra is a believer in the power of simplicity and creativity, and a nagging skeptic at the same time. Explaining the reason behind launching their own agency, he says, “We keep hearing about how good old advertising will die soon. Truth is, it is alive and kicking, because of some of the people in it. We’re looking to work with just those people. Ones who aren’t afraid to argue and question, to laugh at themselves and to roll up their sleeves in the quest for the answers that work the best. And while we’re at it, we’re hoping to bring some madness and love back to this business.”

Having switched from leading sales to strategy function, Murty is a blend of business logic and creativity. “Sometimes, you have to start right at the beginning. The big ideas and the devastatingly simple insights come from engaging with the complexity and nuance of businesses and the lived existence of people. It’s therefore important to spar, intensely engage with clients and partners and each other so we solve the right problems and not fall prey to easy pronouncements and generalisations,” he states.

Anand Murty was the National strategy head at DDB Mudra. His experience ranges across brands such as Reckitt, Voltas - where he reframed the category with ‘Murthy’, Sprite, Set Wet, Dulux, Honda, Airwick, Smartwater, Hayu, Meesho, Instagram, Veeba, Unilever, Amex
and Meta, to name a few.

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Mindshare wins PhonePe's media duties worth Rs 400 crore

The account was earlier with Lodestar UM

By Naziya Alvi Rahman | Mar 1, 2023 5:42 PM   |   1 min read

mindshare

PhonePe, the Walmart-owned digital payments company, has awarded its media duties to Mindshare India. The mandate was won following a competitive multi-agency pitch called by the brand. The account was earlier with Lodestar UM. The account billing is expected to be around Rs 400 crore.

While PhonePe refused to comment on the story, Mindshare’s response is awaited. However, the news was confirmed by highly placed industry sources.

“PhonePe called for a pitch a few months ago, and after a highly competitive pitch, the duties were awarded to Mindshare India. The mandate will include traditional, digital and outdoor,” said a source close to the development.

As per sources, PhonePe is planning to raise funds through an initial public offer. The digital payment company is reportedly seeking a valuation of $ 8-10 billion.

The digital payments app claims to have over 380 million users, driving over 3 billion monthly transactions adding up to $830 billion in Annual TPV run rate. The company has also digitised close to 30 million offline merchants, covering 99% of PIN codes in the country.

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