Reliance incorporates arm REC Sustainable Energy Solutions in Singapore to boost new energy R&D

Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) on Wednesday (February 12) said it has incorporated a wholly-owned subsidiary, REC Sustainable Energy Solutions Pte Ltd (REC SES), in Singapore.

The new entity will serve as a global capability centre to consolidate research and development (R&D) efforts, attract global talent, and provide technical and procurement services supporting RIL’s new energy initiatives.

"...the company has incorporated a wholly owned subsidiary, named REC Sustainable Energy Solutions Pte. Ltd. (‘REC SES’) on February 12, 2025, in Singapore, to set up a global capability centre for consolidating research and development (R&D) activities, facilitating the recruitment of global talent, and providing technical and procurement services to support the company’s new energy initiatives," according to a stock exchange filing.

The company has invested $100,000 for the initial subscription of 100,000 shares, each valued at $1. The transaction does not qualify as a related-party transaction, and no regulatory approvals were required.

Reliance Industries posted a consolidated net profit of ₹18,540 crore for Q3FY25, marking a 7% year-on-year (YoY) increase from ₹17,265 crore in the same period last year. Consolidated revenue for the quarter stood at ₹2.40 lakh crore, reflecting a 6.7% YoY growth from ₹2.25 lakh crore in Q3FY24.

The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) rose 7.7% to ₹43,789 crore compared to ₹40,656 crore in the year-ago quarter, with the EBITDA margin improving to 18.3% from 18.1%.