BANGALORE – Being the fourth largest economy, it is not surprising if companies have kept their eyes on India. Including 57 new entities in the Fortune India 500, the new list indicates a strong demand and fast-growing market within the economy. Eight of the Indian companies were included in the Fortune Global 500 List of 2011.
Taking the development of India in accommodating a number of new companies within the economy, Chief Economist at ratings firm Care, Madan Sabnavis earlier mentioned, “India has the advantage of size. The scope of growth and excess capacity present in terms of resources would drive growth in the future.” Fortune India Magazine has published the list considering the latest sales and gross revenue of the companies in 2011.
1. Indian Oil Corporation
Listing the top ten revenue generating Indian companies, Indian Oil Corporation is ranked top again in the 2011 fiscal year. The company has generated revenue of $68,837 million in the last fiscal year. President of India owns 78.92 percent of the IndianOil Shares. This State-run oil and gas corporation has the largest and widest network of filling stations in India. It holds 10 refineries out of India’s 21. Ranked 98th among 500 best global commercials, IOCL became the highest ranked Indian company across the world. This Mumbai based company is not new to global ranking. Being the 18th best petroleum company in the world, it has already been named in many records ever since its introduction in 1964.
Reliance Industries Limited (RIL)
RIL is the largest private sector company in India. This brain child of business tycoon, Dhirubhai Ambani, was established in 1966 at Mumbai. The Fortune Global 500 list of 2011 ranked RIL in the 134th position. It accumulated $58,900 million revenue in the last financial year. It was at 175th position in 2010 Fortune Global 500 list. RIL has its name in the polyester and fibre production for being the worlds’ largest company of this kind. It is also placed among the top ten major petrochemical products makers.
3. Bharat Petroleum Corporation Limited (BPCL)
BPCL is another state-owned company from India being ranked at 272th position in Fortune Global 500 2011 list. This oil and gas company is also placed in Mumbai. Established as Burmah Oil Company Ltd in 1860s, it was taken over by the Indian Govt in 1976 and was renamed as Bharat Petroleum Corporation Limited. Its main two refineries are at Mumbai and Kochi. The company has generated around $34,102 million revenue in the previous year. Earlier in the 2010 Fortune Global 500 report, it was at the fourth place among the highest revenue generated Indian companies. It has overtaken the State Bank of India’s 3rd rank this year.
4. State Bank of India (SBI)
Though SBI has generated more revenue comparing to its performance in 2010, the state-owned lender dropped its thrid rank one place down to fourth this year. Even in the global ranking, it has slipped 10 ranks from 282 of Fortune Global 500 ranking last year. The total revenue SBI accumulated is around $ 32,450 million and last year it was $ 28,213 million. SBI was established in Mumbai in the year 1955 by the Government of India. It is the largest banking and financial services company in India.
5. Hindustan Petroleum
Owing two major refineries in India, this government owned company is also counted among the Fortune 500 companies. It is placed as the 336th among all global enterprises with net revenue of $28,593 million last year. It is one of the main constituents of Nifty as being among India’s most prominent companies. Established in 1974, HPCL’s major focus is on Oil, natural gas, petroleum, lubricant and petrochemicals.