Fortune India releases Fortune 500 India lssue

New Delhi: Fortune India magazine has released the Fortune 500 India list for 2011 with its December issue. It comes as no surprise that the list is dominated by the oil and gas sector, led by Indian Oil Corporation, Reliance Industries, and Bharat Petroleum Corporation.

The banking sector seems to have dropped in rankings, with the top two lenders, SBI (ranked 4) and ICICI Bank (12), slipping in 2011. Twenty-eight of 46 banks have fallen; only 15 have gone up on the list. The gainers are automobile firms and their ancillary suppliers. The government continues to play a big role in business, with a total of 82 government-owned companies on this year’s list.

D.N. Mukerjea, editor, Fortune India Magazine, said “The Fortune India 500 is a celebration of the size and might of India’s companies. Over the last year, the 500 largest corporations have grown sales by 21.5%; the median growth has been even higher, at about 25%. Such statistics are impressive, no doubt. There also appears to be a fair degree of churn—there are 57 new companies, around 11% of the list. That’s always a good sign because it indicates that the laggards are falling by the way, to be replaced by smarter and hungrier ones. The good news, however, is that many of the Fortune India 500 companies are now beginning to shape the world’s opinion of India for the better. And they may just be doing a better job than their Chinese counterparts.”

Commenting on the release of the second Fortune India 500 list, Pavan Varshnei, President – English Magazines, ABP said, “We are extremely proud to present this impressive second edition of the Indian Fortune 500 list. Most of the companies have managed to retain their top-positions as it was in the last year. They have contributed progressively towards the growth of India’s GDP and the economy. It is almost every organisation’s goal to be listed in Fortune 500 list which is regarded as a benchmark of business excellence. I would like to congratulate all the companies and organizations who have made a cut in the list this year and wish them a successful year ahead”.

The Fortune India 500, published by Fortune India magazine is an annual list compiled on the basis of latest sales and gross revenue figures. It ranks the top 500 Indian companies (publicly and privately-held companies for which revenues are publicly available) by their gross revenue after adjustments. For a sense of perspective, the special issue also features China’s 500 largest corporations as well as a list of the 75 largest corporations of BRIC (Brazil, Russia, India, and China) countries along with the Fortune India 500.

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 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.

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