Reliance Industries Goes Slow On Non-Core Investments As Net Debt Hits $9 Billion

Among Reliance's key investments in FY23 are Rs 9,145 crore in Reliance Storage Ltd.; Rs 1,838 crore in the joint venture Sanmina- SCI India; and Rs 1,499 crore in equity and convertible debenture of Sintex Industries. It also invested Rs 193 crore in Life Insurance Corp.

Reliance made additional investments to the tune of Rs 9,145 crore during the year.

Private Equity Exposure

RIL has increased its exposure to private equity and alternate investment funds which invests in real estate, infrastructure and startups. It invested in Multiples PE Fund II LLP, Kalaari Capital Partners, Nepean Focused Investment Fund etc. Total investments into this segment stood at Rs 4,570 crore as on March 31.

Other Investments

Reliance also has among the highest current investments in government securities at Rs 21,848 crore as of March against nil a year earlier. It also increased its exposure to Treasury bills to Rs 13,157 crore. Its mark-to-market exposure to mutual funds fell to Rs 6,315 crore from Rs 20,944 crore.

Reliance's other income decline during the year, mainly as gains from debt instruments fell to Rs 9,174 crore from Rs 12,247 crore a year earlier. It gained interest income worth Rs 1,709 crore from the bank deposits against Rs 54 crore in the previous year, suggesting the company took advantage of rising deposit rates.