Chairman's Message
Dear Friends,

The idea of one entity merging into many, or many entities blending into one unified whole, has always been inspiring to us. This idea has remained the cornerstone of our progress since inception. it has inspired us to create several products that can be used by multiple industries, reaching out to a wide. Cross-section of people. it has catalyzed non-stop innovation for better and eco-friendly products, consuming less resources of the world. Finally, the one/many model has helped evolve a risk-focused. Business model, that can grow and create higher stakeholder value even during troubled times. We are one company with many facets, and our objective has also remained one: to build a global enterprise, based on innovation, integrity and benefit-to-all approach.

We are one of the pioneers of PVC products in India and are counted among the top three global companies. Our technology centricity has helped us steal a march on competition. during our initial years, we received the most modern technology from daewoo corp. This opened the floodgates of innovation and creativity at a very early stage. however, we did not rest on our laurels. We continued to strengthen our R&D expertise to enhance products quality, cost effectiveness and green quotient.

The biggest concern of 2011-12 was escalating costs — interest costs, people costs, foreign exchange fluctuation cost, and so on. due to rising input costs, adverse forex conditions our profitability declined during the year under review. We continue to take active steps to minimize these volatilities . During 2011-12, we continued our capacity expansions, forayed into unexplored markets and widened domestic operations.

RiL has completed capacity expansion at the existing plants. The capacity expansion would help us achieve economies of scale, assured customers and big-ticket orders. This new production capacity is expected to drive revenues, profitability and market share. There is sufficient headroom in the Responsive balance sheet for borrowings to fund further expansions.

We envision a cleaner and greener world, and we are committed to reduce our environmental impact. we will continue to invest in developing the knowledge and expertise of our people, so that our company can delight global customers and enrich their world in more ways than one.

Thanks to all stakeholders, we are a global enterprise because of your invaluable support and guidance.

Best wishes,