Reliance Industries Limited (NSE: RELIANCE) is India's largest private sector conglomerate (and second largest overall) with an annual turnover of US$ 35.9 billion and profit of US$ 4.85 billion for the fiscal year ending in March 2008 making it one of India's private sector Fortune Global 500 companies, being ranked at 206th position (2008). [1] It was founded by the late Indian industrialist Dhirubhai Ambani in 1966.
Though the company's oil-related operations forms the core of its business, it has diversified its operations in recent years. After severe differences between the founder's two sons, Mukesh and Anil Ambani, the group was divided between them in 2006.
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