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Reliance Consumer Products on strong growth trajectory: Reliance Retail CFO
Sharleen Dsouza Mumbai
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Reliance Consumer Products is on a strong accelerated growth trajectory and is rapidly expanding its supply chain and manufacturing capabilities across the country, Dinesh Taluja, chief financial officer, Reliance Retail, said.
The fast-moving consumer goods (FMCG) arm is also in the process of being demerged from the company's retail network.
'Our FMCG business is on a very accelerated growth trajectory with revenue nearly doubling year-on-year. While we benefit from Reliance's retail network, we've also built a substantial independent distribution system. Following a high-decibel IPL campaign, Campa now enjoys high recall and double-digit market share in key markets. We're rapidly expanding
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Kpler data shows a notable decline in India's Russian crude imports in July (1.8 million bpd versus 2.1 million bpd in June), aligning with seasonal refinery maintenance and weaker monsoon-driven demand. However, the drop is more pronounced among state-run refiners, likely reflecting heightened compliance sensitivity amid mounting geopolitical risk. Private refiners, who account for over 50 per cent of Russian crude intake, have also begun reducing exposure, with fresh procurement diversification underway this week as concerns over US sanctions intensify. Ritolia said replacing Russian crude isn't plug-and-play. The Middle East is the logical fallback, but has constraints - contractual lock-in, pricing rigidity, and a mismatch in crude quality that affects product yield and refinery configuration. "The risk here is not just supply but profitability. Refiners will face higher feedstock costs, and in the case of complex units optimized for (Russian) Urals-like blends, even margins will be under pressure," he said. On the future course, Kpler believes India's complex private refiners - backed by robust trading arms and flexible configurations - are expected to pivot toward non-Russian barrels from the Middle East, West Africa, Latin America, or even the US, where economics permits. This shift, while operationally feasible, will be gradual and strategically aligned with evolving regulatory frameworks, contract structures, and margin dynamics. However, replacing Russian barrels in full is no easy feat - logistically daunting, economically painful, and geopolitically fraught. Supply substitution may be feasible on paper, but remains fraught in practice. "Financially, the implications are massive. Assuming a USD 5 per barrel discount lost across 1.8 million bpd, India could see its import bill swell by USD 911 billion annually. If global flat prices rise further due to reduced Russian availability, the cost could be higher," it said. This would increase fiscal strain, particularly if the government steps in to stabilize retail fuel prices. The cascading impact on inflation, currency, and monetary policy would be difficult to ignore. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
