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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Reliance Industries Ltd    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

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Reliance Industries : Announces Rs. 500 Crore Contribution to PM CARES Fund In Addition to its Multi-pronged On-the-Ground Fight against Covid-19

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03/31/2020 | 09:11am EDT

Mumbai - Reliance Industries Ltd. (RIL) today announced a donation of Rs. 500 crore to PM CARES Fund in response to the call by the Prime Minister to support the nation's fight against the Coronavirus onslaught.

RIL also informed that in addition to the financial contribution to the PM's Fund, the company has also provided contributions of Rs. 5 crore each to the governments of Maharashtra and Gujarat to support their fights against the Covid-19.

RIL also continues its 24x7, multi-pronged, on-the-ground effort to do its bit to ensure the nation remains prepared, fed, supplied, safe, connected and motivated to fight and win against the unprecedented challenges brought upon by the Coronavirus pandemic.

RIL has already deployed the strengths of the Reliance Family on this action plan against COVID-19. RIL and its motivated team have stepped up in the cities and villages, on roads and lanes, clinics and hospitals, grocery and retail stores, and it has pressed additional capabilities into the service of the nation.

RIL and Reliance Foundation is leading with a significant effort that encompasses several initiatives. These include: Contribution of Rs. 500 crore to the PM-CARES Fund

Contribution of Rs. 5 crore to the Chief Minister's Relief Fund of Maharashtra

Contribution of Rs. 5 crore to the Chief Minister's Relief Fund of Gujarat

India's first 100 bed exclusive Covid-19 Hospital geared up in just two weeks to handle Covid-19 patients

Fifty Lakh free meals in the next 10 days across the nation and scaling up rapidly to more meals and newer areas

One Lakh masks daily for health-workers and caregivers

Thousands of PPEs daily for health-workers and caregivers

Free Fuel across the country to notified emergency response vehicles

Jio seamlessly connecting nearly 40 crore individuals and thousands and thousands of organisations daily on its telecom backbone via 'work from home', 'study from home' and 'health from home' initiatives, helping to keep the country going

Reliance Retail providing Essential supplies daily for millions of Indians via stores and home deliveries

This is RIL's overall commitment to the nation, in addition to appropriate financial assistance from time to time. The company and its employees will be in the nation's service daily, as an efficient support machinery for the millions of forces in the frontline - India's doctors, nurses, health workers and caregivers, government officials, police and peace keeping forces, the transport and essential supply providers and the crores of Indian citizens who are staying at home to contribute to this fight.

RIL particularly records its appreciation for its essential staff across the various divisions, our own heroes, who have effectively formed a second line of defence against the Virus, supporting the frontline forces as well as the people fighting from their homes, and being part of the formidable buffer, which keeps the nation's response effective and ongoing. RIL remains committed to supporting India's response to the Covid-19 challenge and will continue to build up its support till the challenge is overcome.

Shri Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited, said, 'We are confident that India will conquer the coronavirus crisis sooner rather than later. The entire Reliance Industries Limited team is with the nation in this hour of crisis and will do everything to win this battle against Covid-19'.

Smt. Nita Ambani, Founder Chairperson of Reliance Foundation, said, 'As the nation comes together to fight the Covid-19 pandemic, all of us at Reliance Foundation stand in solidarity with our countrymen and women, especially those on the frontlines to whom we pledge our full support. Our doctors and staff have helped set up India's first Covid-19 Hospital and are committed to supporting the government in exhaustive screening, testing, prevention, and treatment of Covid-19.'

'The need of the hour is also for us to support our marginalized and daily wage communities. Through our meal distribution programme, we aim to feed lakhs of people daily across the country,' added Smt. Nita Ambani.

About Reliance Industries Limited

RIL is India's largest private sector company, with a consolidated turnover of INR 622,809 crore ($90.1 billion), cash profit of INR 64,478 crore ($ 9.3 billion), and net profit of INR 39,588 crore ($5.7 billion) for the year ended March 31, 2019. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

RIL is the top most ranked company from India to feature in Fortune's Global 500 list of 'World's Largest Corporations' - currently ranking 106th in terms of both revenues and profits. The company stands 71st in the 'Forbes Global 2000' rankings for 2019 - top-most among Indian companies. It ranks 10th among LinkedIn's 'The Best Companies to Work For In India' (2019).

Contact:

Tushar Pania

Tel: + 91 9820088536

Email: tushar.pania@ril.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Net income 2021 436 B 5 764 M 5 764 M
Net Debt 2021 1 771 B 23 422 M 23 422 M
P/E ratio 2021 21,2x
Yield 2021 0,45%
Capitalization 8 679 B 115 B 115 B
EV / Sales 2020
EV / Sales 2021 1,88x
Nbr of Employees 194 056
Free-Float 47,9%
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Average target price 1 605,27 INR
Last Close Price 1 464,40 INR
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NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Chief Financial Officer
Nikhil Rasiklal Meswani Executive Director
Hital Rasiklal Meswani Executive Director
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