Top 10 Companies in India

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Organizations like Forbes use interactive information and statistics from the following sources to compile their ranking systems for businesses around the world:
  • Interactive Data
  • Worldscope
  • Thomson Reuters Fundamentals
Under normal circumstances, these organizations deal with companies that are publicly traded. Forbes uses a special system named FactSet Research System to get relevant information from its sources.

Criteria of Analysis

The top companies are normally decided on the basis of four major criteria:
  • Sales
  • Assets
  • Profit
  • Market value
In case of companies that are operating in either the US or Canada or offshore locations like Bermuda the financial statistics of the preceding 12 months are used by Forbes.

If Forbes is calculating the rankings of countries that function in the countries other than ones mentioned above it shall use the newest available financial statistics.

There are several factors that are immensely important while collecting the financial information and determining the final rankings:
  • Time when the data was collected and screened
  • Reporting procedures followed in each country
  • Reporting policies of the various organizations featuring in the rankings
  • The difference in time between when the reports were released by a company and when it was collected and screened by the databases that act as sources for Forbes
Forbes also performs the best possible quality check of the information available and uses resources such as Bloomberg and financial statements of the companies for these purposes.

Forbes normally creates four separate lists for the top companies – sales 2000, assets 2000, profits 2000, and market value 2000.

The minimum statistics needed to qualify for each of the lists may be enumerated as below:

List Criteria
Sales 3.7 billion US dollars
Assets 7.34 billion US dollars
Profits 239.2 million US dollars
Market value 4 billion US dollars

In order to be considered eligible for being included in the final 2000 ranking a company has to earn a place in at least one of the lists. In 2012 Forbes needed 3300 organizations for creating the four lists.

Every organization is provided with a score based on its position in the lists. This means that if it misses out on any of the 4 lists it does not receive any point for that particular metric.

Once the initial process is completed then the scores are added up for each of the metrics that are given equal weightage. The final composite score is based on these points. The companies are then placed in descending order.

Publicly traded companies that have been consolidated by their parent company are not included in the list. In majority of the countries, accounting rules state that a subsidiary is regarded as consolidated when the parent company owns more than 50% of its shares.

Top 10 Companies in India

At present the top 10 companies in India, as per the ET 500 list for 2011 may be enumerated as below:
  • Tata Steel Ltd
  • Hindustan Petroleum Corporation Ltd

Top Companies in India – Sector-wise information

Oil and gas

As per the ET 500 list the oil and gas sector has been one of the leading contributors to the national economy in 2011. The top 17 companies in this sector have together earned INR 1203098.49 crores and have earned an aggregate net profit of INR 399349.64 crores.

Company (rankings on ET 500 list provided in brackets) Revenue in 2011 (in crores) MCRP CR in 2011 (in crores)
Indian Oil Corporation Ltd (1) 313627.88 73497.88
Bharat Petroleum Corporation Ltd (3) 155370.19 23681.44
Hindustan Petroleum Corporation Ltd (5) 140000.31 11934.77
Oil and Natural Gas Corporation Ltd (6) 124556.42 231052
Essar Oil Ltd (15) 48165 11430
Mangalore Refinery and Petrochemicals Ltd (18) 39192.30 11115.17
GAIL (India) Ltd (22) 35664.08 53106.92
Chennai Petroleum Corporation Ltd (23) 33223.82 2965.97
Petronet LNG Ltd (54) 13265.25 12026.25
Cairn India Ltd (72) 10406.72 54515.54


The ET 500 list for 2011 states that the top 38 banks of India earned INR 599229.06 crores and their profit for the same year stood at INR 64782.98 crores which makes it one of the top performers in 2011.

Company (rankings on ET 500 list provided in brackets) Revenue in 2011 (in crores) MCRP CR in 2011 (in crores)
State Bank of India (4) 147843.92 117853.98
ICICI Bank Ltd (10) 61594.70 99841.36
Punjab National Bank(26) 31206.60 30335.56
Bank of Baroda (28) 25800.41 29420.86
Canara Bank (30) 25792.60 19724.34
HDFC Bank Ltd (31) 24628.38 109887.20
Bank of India(32) 24500.25 17729.25
IDBI Bank Ltd(37) 20838.19 10277.51
Axis Bank Ltd(40) 19826.31 44796.64
Union Bank of India(42) 18500.66 12322.45


In 2011, according to the ET 500 list, the leading 32 steel companies of India earned a profit of INR 21605.16 crores in addition to an aggregate revenue of INR 286108.96 crores.

Company (rankings on ET 500 list provided in brackets) Revenue in 2011 (in crores) MCRP CR in 2011 (in crores)
Tata Steel Ltd (8) 119734.10 41849.83
Steel Authority of India (SAIL) Ltd(16) 43556.87 43914.85
JSW Steel Ltd(33) 24184.27 13184.45
Jindal Steel & Power Ltd (55) 13193.60 47960.51
JSW Ispat Steel Ltd (87) 8551.63 30943.42
Welspun Corp Ltd (91) 8042.04 2270.25
Jindal Stainless Ltd (100) 7534.42 1722.89
Bhushan Steel Ltd (103) 7072.89 6969.89
Uttam Galva Steels Ltd (150) 5035.27 892.59
Jindal Saw Ltd (180) 4224.30 3779.00


The top 10 companies of the Indian automobile industry earned a total revenue of INR 262650.22 crores as per the ET 500 list for 2011. In the same period these organizations also generated a total profit of 21318.26.

Company (rankings on ET 500 list provided in brackets) Revenue in 2011 (in crores) MCRP CR in 2011 (in crores)
Tata Motors Ltd (7) 123222.91 56499.77
Maruti Suzuki India Ltd(19) 38140.69 31475.63
Mahindra and Mahindra Ltd (21) 37026.37 49945.17
Hero MotoCorp Ltd (41) 19669.29 40398.63
Bajaj Auto Ltd (46) 17008.05 46885.69
Ashok Leyland Ltd(67) 11133.04 6653.15
TVS Motor Company Ltd (110) 6569.99 2985.00
Eicher Motors Ltd (148) 5138.64 4448.27
Escorts Ltd (212) 3167.19 820.42
Force Motors Ltd (396) 1574.05 730.05

Power generation

The power generation sector, as per the ET 500 list for 2011, has been one of the top performers. The top 12 companies together earned a revenue of INR 131152.23 crores and a profit of INR 21122.65 crores.

Company (rankings on ET 500 list provided in brackets) Revenue in 2011 (in crores) MCRP CR in 2011 (in crores)
NTPC Ltd (11) 60008.18 141314.17
Tata Power Company Ltd(39) 19861.26 23650.44
Reliance Infrastructure Ltd (49) 15964.77 10989.98
Torrent Power Ltd (107) 6919.67 10849.19
NHPC Ltd(123) 5950.74 28890.55
CESC Ltd(146) 5156.00 3336.00
Neyveli Lignite Corporation Ltd (154) 4919.43 13071.57
JSW Energy Ltd (175) 4427.54 8268.87
Adani Power Ltd (302) 2153.15 18054.56
SJVN Ltd (324) 1955.82 8961.23

Last Updated on May 2, 2015