Fortune 500 list of Indian companies announced, Reliance tops for second year

Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) topped the Fortune 500 list of Indian companies for the second year, announced on December 2. The Fortune India 500 list is based on revenue and the figures this year pertaining to the fiscal year 2019-2020.

Indian Oil Corporation Ltd (IOC), the nation’s biggest oil firm, bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third, it said.

The country’s largest lender State Bank of India was in the fourth position, while India’s second-biggest fuel retailer Bharat Petroleum Corporation Ltd (BPCL) took the fifth spot.

Tata Motors was ranked sixth, followed by gold refiner Rajesh Exports at the seventh spot.

India’s largest IT services firm Tata Consultancy Services took the eighth spot, while ICICI Bank ranked nine and Larsen & Toubro made it to the top 10 as Coal India and Tata Steel slipped out this year. Tata Steel had ranked eighth on the 2019 list and Coal India ninth.

The largest companies continued to account for the bulk of the cumulative revenues of the 500 companies. The list showed 38 companies clocking revenues of over Rs 50,000 crore each, together accounting for nearly 60 percent of the total revenues this year, Fortune India said.

On the other hand, as many as 139 companies reported revenues of under Rs 3,000 crore each, together accounting for just under 4 percent of the total revenues. The manufacturing sector, with 303 companies, accounted for 62 percent of the total revenue, and 76 percent of the total profit. The services sector, with 145 companies, contributed 33 percent of the total revenue and 19 percent of the total profit.

Oil and gas companies together accounted for 22 percent and 20 percent of the total revenue and profit, respectively with Reliance Industries leading the pack.

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