The company operates three petrochemical complexes, a naphtha-based complex at Vadodara and one gas-based complex each at Nagothane near Mumbai and Dahej on the Narmada estuary in the Bay of Khambhat. The company also operates a catalyst manufacturing facility at Vadodara.

From a small 66,000 tonnes cracker producer, the company has come a long way and today produces over 1 million tonnes of merchant products. Six polyester companies of the Reliance group — Appollo Fibres Ltd (AFL), Central India Polyesters Ltd (CIPL), India Polyfibres Ltd (IPL), Orissa Polyfibres Ltd (OPL), Recron Synthetics Ltd (RSL) and Silvassa Industries Private Ltd (SIPL) — were amalgamated with IPCL with effect from April 1, 2005.

Earlier this month, RIL had announced that the promoter, Mukesh Ambani, would be hiking his stake in the company by 5 per cent through a Rs 17,000 crore preferential issue of warrants.