Fortune India brings out its top 500 ranking

14 Dec,2011

By A Correspondent


Fortune India magazine has released the Fortune 500 India list for 2011 with its December issue. It comes as no surprise that the list is dominated by the oil and gas sector, led by Indian Oil Corporation, Reliance Industries, and Bharat Petroleum Corporation.


The banking sector seems to have dropped in rankings, with the top two lenders, SBI (ranked 4) and ICICI Bank (12), slipping in 2011. Twenty eight of 46 banks have fallen in rankings; only 15 have gone up. The gainers are automobile firms and their ancillary suppliers. The government continues to play a big role in business, with a total of 82 government-owned companies on this year’s list.


Mumbai has remained the natural home of India Inc. despite the growth of other cities. Over a third of companies, 177 to be precise, are headquartered in the financial capital. This is followed by Delhi and its suburbs, which hosts 111 corporate head offices. Surprisingly, Kolkata continues to be a major corporate city with 38 Fortune India 500 companies, ahead of IT capital Bangalore (25 headquarters) and Chennai with 34. Pune, Ahmedabad, and Hyderabad are far behind, home to 22, 19, and 17 firms respectively.


Mr D N Mukerjea, Editor, Fortune India Magazine, said: “The Fortune India 500 is a celebration of the size and might of Indian companies. Over the last year, the 500 largest corporations have grown sales by 21.5%; the median growth has been even higher, at about 25%. There also appears to be a fair degree of churn—there are 57 new companies, around 11% of the list. That’s always a good sign because it indicates that the laggards are being replaced by smarter and hungrier companies. The good news, however, is that many of the Fortune India 500 companies are now beginning to shape the world’s opinion of India for the better. And they may just be doing a better job than their Chinese counterparts.”


Commenting on the release of the second Fortune India 500 list, Mr Pavan Varshnei, President – English Magazines, ABP said: “We are extremely proud to present this impressive second edition of the Indian Fortune 500 list. Most of the companies have managed to retain their top- positions. They have contributed towards the growth of India’s GDP and the economy. It is almost every organisation’s goal to be listed in Fortune 500 list, which is regarded as a benchmark of business excellence. I would like to congratulate all the companies and organizations who have made a cut in the list this year and wish them a successful year ahead”.


The Fortune India 500, published by Fortune India magazine is an annual list compiled on the basis of latest sales and gross revenue figures. It ranks the top 500 Indian companies (publicly and privately-held companies for which revenues are publicly available) by their gross revenue after adjustments. For a sense of perspective, the special issue also features China’s 500 largest corporations as well as a list of the 75 largest corporations of BRIC (Brazil, Russia, India, and China) countries.


Other individual data points include year on year change on total revenues; net operating income; profits; assets; net worth; profit as percentage of revenues, assets and net worth; dividend; and total salaries.


The issue also ranks top players across different sectors including airlines, automobiles, banking, cement, consumer durables, pharmaceuticals, FMCG, infrastructure and development, media, oil and gas, power, real estate, retail and telecommunications among others.


The top ranking companies of Fortune 500 India list are:

1.       Indian Oil Corporation

2.       Reliance Industries

3.       Bharat Petroleum

4.       State Bank of India

5.       Hindustan Petroleum

6.       Tata Motors

7.       Oil and Natural Gas Corporation (ONGC)

8.       Tata Steel

9.       Hindalco Industries

10.   Coal India

11.   National Thermal Power Corporation (NTPC)

12.   ICICI Bank

13.   Bharti Airtel

14.   Larsen & Toubro

15.   Essar Oil

16.   Steel Authority of India (SAIL)

17.   Bharat Heavy Electricals Limited (BHEL)

18.   Mangalore Refinery and Petrochemicals Limited (MRPL)

19.   Maruti Suzuki Inida

20.   TCS


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