ndian Oil has topped the first-ever Fortune India 500 list. Though, revenues of the oil and gas major dropped by 8.51 per cent this year at Rs 2,66,301.52 crore, the YoY change in profits stood at 293.2 per cent.
Mukesh Ambani Group's Reliance Industries holds the second spot with revenues of Rs 2,20,939.21 crore - up by almost 42 per cent as compared to last year. Reliance happens to be the maximum profit (Rs 24,349.56) earning conglomerate.
The 3rd postion was grabbed by government's largest bank - State Bank of India, having a net worth of Rs 83,135.58 crore. The bank has registered a profit of Rs 11,799.21 this year.
The rankings are based on the total revenues of organisations and there are at least ten public sector entities in the top 20.
The 4th, 5th and 6th positions are taken over by two of government's oil and gas navratnas and one maharatna - Bharat Petroleum (BP), Hindustan Petrolium (HP) and Oil and Natural Gas Company (ONGC), respectively. Despite a drop in revenues of the three PSUs, the profits for BP and HP soared 46 per cent and 54 per cent, respectively while that of ONGC rose by 2 per cent.
The Tata group makes an entry at positions 7th and 8th with Tata Steel and Tata Motors. Tata Steel had registered a net loss last year but is profitable now. Tata Motors has also turned from a loss-making entity to profit-making in the last one year.
In 9th position, stands Aditya Birla Group's Hindalco Industries while ICICI bank was ranked 10th on the list. Government entities - Coal India and NTPC were ranked 11th and 12th respectively.
The list includes listed companies and privately-held firms and their rankings are based on the total revenues incurred by the organisations. An average revenue of a company on the list stands at Rs 7,632.50 crore - an indicator of the fast-growing India Inc. The total revenue of the Fortune India 500 companies stands at Rs 38,16,239.40 crore - almost 60 per cent of India’s GDP.
“Eight of the largest corporations on the list are also on the Fortune Global 500 list,” the magazine said in a statement on Thursday.
The magazine has also published 'The Essential BRIC 50' that takes a peek on the companies making waves across the growth economies - Brazil, Russia, India and China. The top three positions were claimed by the Chinese companies with Sinopec - ranked 7th on the Fortune Global 500, topping the list. Indian Oil - ranked 12th (125 FG500) and Reliance Industries - ranked 20 (175 FG500) were among the top 20 of the BRIC 50. Other Indian companies on the BRIC top 50 include State Bank of India, Bharat Petroleum and Hindustan Petroleum.
