Reliance Industries (RIL) is focusing on new business-to-customer initiatives to hedge against volatility and strengthen its petrochemicals business. Under this strategy, RIL will offer end-to-end tailor-made solutions to industries and consumers. RIL’s petrochemical business weakened in the March quarter as profitability was hit by lower volumes and muted spreads. Margins of key products like ethylene, benzene, monoethylene glycol (MEG) and butadiene were hit due to increased supply in the quarter.RIL is among the top 10 producers globally for key petrochemicals. Last January, RIL commissioned its refinery off-gas cracker (ROGC) complex of 1.5 million tonnes per annum (mtpa) capacity along with downstream plants and utilities, culminating its $16 billion refining and petrochemicals expansion plan that it started in 2014.
