Sharp decline in production from flagship Krishna-Godavari basin has changed the business mix for the company

An unimpressive performance on its exploration and production front has brought the refining and marketing and petrochemicals business back in the reckoning for Reliance Industries Ltd (RIL), India’s highest valued company. Over the quarters, a sharp decline in production from its flagship Krishna-Godavari basin, off the Andhra coast, has changed the business mix for the Mukesh Ambani-led company, with refining and marketing now contributing 78.2 per cent of the revenue base and 58 per cent of Ebit (earnings before interest, tax) margins.