1. The figures for the corresponding periods have been restated, wherever, necessary, to make them comparable.

2. The Scheme of amalgamation of Reliance Petroleum Ltd (RPL), with the Company from the appointed date of April 01, 2008, has been approved by the shareholders and creditors of both the companies and submitted to the Hon’ble High Courts of judicature at Mumbai and Gujarat for sanction u/s 391 and 394 of the Companies Act, 1956. Upon receipt of statutory approvals, the Scheme will be given effect to in the audited financial statements for the year ended March 31, 2009.

3. The Company has granted 50,100 Options during the year to the eligible employees for subscribing to equivalent number of fully paid-up equity shares of the Company. The options vest over a period of 7 years from the date of grant based on specified criteria.

4. The Company had revalued plant, equipment and buildings situated at Patalganga, Hazira, Naroda and Jamnagar in earlier years. The Company has also revalued plant, equipment and buildings situated at Gandhar and Nagothane on January 01, 2009 and the incremental value on revaluation amounting to Rs 12,901 crore (US$ 2,544 million) has been credited to Revaluation Reserve Consequent to revaluation, there was an additional charge for depreciation of Rs 1,987 crore (US$ 392 million) for the year ended March 31, 2009 which has been withdrawn from the Reserves. This has no impact on the profit for the year.

5. The company’s refinery at Jamnagar exited the EOU scheme with effect from April 16, 2009.

6. The company commenced gas production from KG D6 basin (D1 / D3 discoveries) from April 02, 2009.

7. The Company has continued to adjust the foreign currency exchange differences on amounts borrowed for acquisition of fixed assets, to the carrying cost of fixed assets. This was a matter of reference in the Limited Review Report. However, pursuant to the retrospective amendment (with effect from December 07, 2006) to Accounting Standard (AS 11) on Effects of Changes in Foreign Exchange Rates vide GSR Notification 225(E) dated March 31, 2009, the above accounting treatment followed by the Company is consistent with the revised AS 11.

8. During the year ending March 31, 2009 Reliance People Serve Ltd, Reliance Infrastructure Management Services Ltd, Reliance Global Business, B.V., Reliance Gas Corporation Ltd, Reliance Global Energy Services Ltd, Reliance One Enterprises Ltd, Reliance Personal Electronics Ltd, Reliance Global Energy Services (Singapore) Pte Ltd, Reliance Polymers (India) Pvt Ltd, Reliance Polyolefins Pvt Ltd, Reliance Aromatics and Petrochemicals Pvt Ltd, Reliance Energy and Project Development Pvt Ltd, Reliance Chemicals Pvt Ltd, Reliance Universal Enterprises Pvt Ltd, international Oil Trading Ltd, Reliance Nutritional Food Processors Pvt Ltd, Reliance Review Cinema Pvt Ltd, Reliance Replay Gaming Pvt Ltd, RIL USA Inc, Reliance Commercial Land Infrastructure Pvt Ltd, Reliance Corporate IT Park Ltd, Reliance Eminent Trading & Commercial Pvt Ltd, Reliance Progressive Traders Pvt Ltd, Reliance Prolific Traders Pvt Ltd, Reliance Universal Traders Pvt Ltd, Reliance Prolific Commercial Pvt Ltd, Reliance Comtrade Pvt Ltd, Reliance Ambit Trade Pvt Ltd, Reliance Marketing Pvt Ltd, LPG Infrastructure (India) Pvt Ltd and Reliance Infosolution Pvt Ltd have become subsidiaries of the Company and Abcus Retail Pvt Ltd ceased to be a subsidiary.

9. Exceptional item of Rs 370 crore (US$ 73 million) represent provision made towards estimated claims on account of subsidiaries.

10. Provision for Current Tax for the year ended March 31, 2009 includes provision for Fringe Benefit Tax of Rs 54 crore (US$ 10.7 million).

11. The audit committee reviewed the above results. The Board of Directors at its meeting held on April 23, 2009 approved the above results and its release. The statutory auditors of the Company have carried out a Limited Review of the results for the year ended March 31, 2009.

Mukesh D Ambani
Chairman & Managing Director