The Fortune India 500 is an annual list published by FORTUNE India magazine.
BestMediaInfo Bureau | Delhi | December 10, 2010
The first ever Fortune India 500 list is out in the December 2010 issue of FORTUNE India. Indian Oil Corporation tops the FORTUNE India 500 rankings and Reliance Industries is listed at No. 2. The next three places are taken by State Bank of India, Bharat Petroleum and Hindustan Petroleum respectively. The first Fortune India 500 list reveals that Indian companies have become substantially bigger in the last ten years with the average revenue of a company on the Fortune India 500 list standing at Rs 7,632.5 crore. Eight of the largest corporations on the list, led by IndianOil, are also on the Fortune Global 500 list. The total revenue of the Fortune India 500 companies stands at Rs 38,16,239.40 crore. That’s more than 60% of India’s total GDP. The Fortune India 500 is an annual list published by FORTUNE India magazine. It ranks the top 500 Indian companies (publicly and privately-held companies for which revenues are publicly available) by their gross revenue after adjustments.
FORTUNE India, FORTUNE’s sixth international edition, is the first ever issue to feature the 500 largest listed companies of China and the 50 largest corporations of BRIC (Brazil, Russia, India, and China) nations, along with the FORTUNE India 500.
The special issue presents a deeper analysis with the Fortune China 500 and the BRIC 50 list of the biggest companies. Magazine reveals that the largest FORTUNE India 500 company is 266 times the size of the smallest, much the same as in China, where the top company is 382 times the size of the 500th while the disparity on the U.S. Fortune 500 list is much lower: The largest (Wal-Mart, $408 billion) is just 100 times bigger than the smallest (Blockbuster, $4.1 billion).
Commenting on the first Fortune India 500 list, Pavan Varshnei, President – English Magazines, ABP said, “Fortune 500 is perhaps the best-known brand in business journalism and is considered as the ulitmate benchmark of business success. We are extremely proud to present the first ever Indian Fortune 500 list and are confident that the list will be an eagerly awaited one every year”.
The Fortune India 500 ranking is based on total revenues of the organisation. Other individual data points include year on year change on total revenues; net operating income; profits; assets; networth; profit as percentage of revenues, assets and networth; dividend; and total salaries. The issue also ranks top players across 42 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. State Bank of India
4. Bharat Petroleum
5. Hindustan Petroleum
7. Tata Steel
8. Tata Motors
9. Hindalco Industries
10. ICICI Bank
11. Coal India
13. Larsen & Toubro
14. Bharti Airtel
16. Essar Oil
19. Mahindra & Mahindra
D.N. Mukerjea, Editor, FORTUNE India Magazine said “The Fortune India 500 is the most definitive roster of India’s most successful corporations and is a must-keep issue for executives. Along with a comprehensive ranking, the issue also provides insights into the list vis-à-vis China and other fast-growing nations. We are confident that these insights will help Indian businesses identify growth paths and learn from companies that may face similar challenges in environments across the world”.
Also this issue examines how China has dethroned Japan as the economic giant in the Fortune Global 500 ranking. The findings reveal that the number of US companies in the global Fortune 500 have dropped by 7%; the number of Japanese companies have dropped by 52%, while the number of Chinese companies have grown by 15 times over the last 15 years. The overall trend of the rise of China in the world economy is mirrored in the list of top 50 companies in the BRIC region. Among the 12 largest companies from BRIC there are 7 Chinese, 2 Russian, 2 Brazilian and only one Indian company.
Will India be able to make its presence felt in the world economy? A report entitled “Tomorrow‘s Goliaths” studies what it will take for companies such as ICICI, Airtel and Hindalco to be a part of the Global Fortune 500 list.