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In a major rejig of its investment portfolio, Mukesh Ambani-led corporate giant Reliance Industries has enhanced its exposure to bonds and mutual funds, while pruning its holding of listed shares with sale of blue-chips like HDFC Bank, ONGC and NTPC.
Reliance Industries Ltd (RIL) has also sold its holdings of blue-chip public sector stocks like Oil India and NMDC, while it has lowered its exposure to banking behemoth SBI and mortgage giant HDFC Ltd.
Overall, RIL's non-current investments (which are mostly long term in nature) has come down to Rs 25,437 crore as on March 31, 2015, from Rs 26,867 crore a year ago.
However, its current investments (which include trade investments and are generally short-term in nature) rose sharply to Rs 51,014 crore during the financial year 2014-15, from Rs 33,735 crore.
The disclosures have been made by RIL in its latest annual report being distributed to its shareholders ahead of the company's Annual General Meeting on June 12.
An analysis of the company's investment portfolios also show that its 'cash and bank balances' at consolidated level came down to Rs 12,545 crore at the end of last fiscal, from Rs 37,984 crore a year ago.
Among others, RIL has also lowered its exposure to Fixed Maturity Plans (FMPs) in both its current and non-current investment portfolios, while its holdings of debentures or bonds, as also of mutual funds went up during the last fiscal.
For government securities, the company increased the exposure for its current investments, but lowered the same in its long-term investment portfolio.
In its long-term investment portfolio, the company has lowered its exposure to the listed stocks, while its current investments in commercial papers of various companies has gone up.
The country's most profitable firm has also added a number of unlisted companies to its investment portfolio, including BookMyShow, Delhi Stock Exchange, 24X7 Learnings and Aeon Learnings, some of which it has got through acquisition of Network 18 firms and others.
RIL said it "manages its working capital efficiently by optimising the cash-to-cash cycle through active financing of receivables and extending maturities of payables.
"Reliance effectively manages its cash and cash equivalents and cash generated from operations through diversified investment portfolio. Reliance's investment portfolio consists of wide ranging financial instruments such as liquid and highly rated securities, bank fixed deposits, CDs, government securities, corporate bonds and mutual funds.
