India's Top 500 Companies 2016

India's Top 500 Companies 2016


‘India’s Top 500 Companies 2016’ includes private sector companies and public sector enterprises (PSEs) listed on the Bombay Stock Exchange (BSE) and/or the National Stock Exchange (NSE), India’s two major stock exchanges.

Standalone total income remains the primary criteria for the initial shortlisting of companies. However the editorial team continues to use a diverse set of parameters to refine and arrive at the list of Top 500 companies. Such criteria include market capitalization and financial health (*). The list was filtered by exclusion criteria such as three year losses, negative net worth, number of trading days, and corporate governance records to arrive at the final list of Top 500 companies. Total income, net profit, and net worth continue to be the criteria used for ranking of companies in ‘Dun & Bradstreet India’s Top 500 Companies 2016’.

Companies that were listed until March 31, 2015 were considered for inclusion. However, companies that were delisted after March 31, 2015 were not considered. Exceptions for delisted entities were made for those companies which were delisted due to amalgamation/merger and the resulting new entity was listed post March 31, 2015.

Entities that were classified as suit-filed accounts (willful defaulters) of ` 2.5 mn and above, by Credit Information Bureau (India) Ltd. (CIBIL) are excluded from the publication.

* Weak macroeconomic conditions in India in the past few years have impacted the financial health of many Indian companies. There have been instances wherein companies faced difficulties in servicing their debt and have adopted different debt restructuring mechanisms such as joint lenders forum (JLF), 5:25 scheme, corporate debt restructuring (CDR) and strategic debt restructuring (SDR). In such cases (where information is public), an additional criteria set has been applied to include and exclude companies from the Top 500 list. Such companies have been marked in the publication with the symbol ‘@’ in company listings, wherever applicable.

This edition also features financial comparison of the profiled companies classified under different sectors. We have identified 55 distinct sectors for classifying companies. We have classified companies into respective sectors based on the company’s line of business falling within the defined scope of the sector as mentioned in the ‘Sector Definition’. In the case of companies operating in more than one sector, we have classified these companies based on the major source of the respective company’s income. The main source of information includes FY15 segmental revenues and other related business information. The ‘Diversified’ category includes companies operating in more than one segment, whereby no segment contributes more than 35% of the overall revenue of the company. ‘Others’ category comprises of companies, where the given company is the only Top 500 Company in its sector. Within each sector, the companies are further ranked on their total income.

All the financial information in the publication is based on standalone financials sourced from annual reports or audited financial statements. Financial information for the period ending between October 31, 2014 and September 30, 2015 is considered for the purpose of the publication. In effect for the majority of Top 500 Companies, the audited financial statements for the period ended March 31, 2015 have been considered. For companies where the published financial statement is for a period other than 12 months, the financials are annualized for the purpose of shortlisting, ranking, and profiling. Dun & Bradstreet excluded companies in the absence of unavailability of the annual reports at the time of compiling this publication. In general, all information used in the publication is from publically available relevant sources. The various financial computations are based on Dun & Bradstreet’s methodology and have been explicitly explained in the ‘Definitions and Calculations’ section. Companies with financial statements which have been qualified by auditors are marked with an asterisk (*).

Dun & Bradstreet has developed an in-house model for selecting top performing companies for awards in respective sectors. The model took into consideration key financial indicators in areas of business size, growth, profitability, leverage and solvency among others.

Each company featuring in the publication has been allotted a unique identification number to (D-U-N-S® - Data Universal Numbering System), which will help readers locate and obtain full-fledged business information reports on these companies from the Dun & Bradstreet database.

Sector Definition

Sector Definition
Agro ChemicalsManufacturing and distribution of chemicals used in agriculture industry. These chemicals include insecticide, pesticide, herbicide and related chemicals. The sector excludes fertilisers which are classified separately.
Auto ComponentsManufacturing and distribution of all types of auto ancillaries, such as engines, carburettors and shock absorbers. The sector excludes manufacturer of tyres and batteries, which are classified separately in the respective sectors.
Automobile - Two/Three WheelersManufacturing and distribution of Two/Three wheeler automobiles.
AutomobilesManufacturing and distribution of passenger vehicles, which include cars & sport utility vehicles (SUVs) and commercial vehicles.
BanksCompanies operating with Banking license as issued by the Reserve Bank of India
BatteriesManufacturing of rechargeable batteries. The sector excludes manufacturing of dry cells
BearingsManufacturing and distribution of bearings
CementManufacturing of cement, clinker & concrete
ChemicalsManufacturing and distribution of basic chemicals. The sector excludes fertilisers, plastics and petrochemicals which are classified separately in the respective sectors.
CigarettesManufacturing and distribution of cigarettes
Coal & Coal ProductsMining & distribution of coal and coal products
Construction - Infrastructure DevelopmentConstruction of infrastructure such as roads and bridges and other civil structures
Consumer Durables & AppliancesManufacturing and distribution of consumer appliances such as TVs, Fridge, Air conditioners etc.
DiversifiedCompanies operating in multiple segments with no single business vertical as the major revenue contributor
Electrical & ElectronicManufacturing and distribution of products used to generate, distribute and use electrical power. Also included is the manufacturing of electrical lighting and electric household appliances
Engineering Project/Capital GoodsDesign, manufacturing and supply of industrial equipment and providing related EPC services
FertilisersManufacturing and distribution of fertiliser products such as urea, crude phosphate etc. The sector excludes manufacturing of agro chemicals such as pesticides.
FIs / NBFCs / Financial ServicesCompanies engaged in providing various types of financial services other than banking services
FMCGManufacturing and distribution of goods that are commonly available with relatively low unit value. Example: soaps, toothpaste, cosmetics etc. This sector excludes food & beverage products
Food ProductsManufacturing and distribution of food products including snacks, fruits, vegetables, dairy products, meatpacking, dietary supplements, vegetable & other edible oils and related items
FootwearManufacturing and distribution of shoes, sandals and other footwear products
Gas - Processing, Transmission and MarketingManufacturing and distribution of natural gas through pipelines for both domestic and industrial purposes. This sector excludes the manufacturing of industrial gases
Gems and JewelleryManufacturing and distribution of jewellery and related articles
Glass and CeramicsManufacturing and distribution of all forms of glass (except glass jewellery) and ceramic products
Graphite and ElectrodesManufacturing and distribution of graphite and graphite related products such as electrodes.
HotelsManagement and operation of hotels providing accommodation
Iron and SteelManufacturing of basic iron and steel such as sheets and bars.
LiquorManufacturing and distribution of all types of alcoholic beverages
Media and EntertainmentCompanies engaged in providing print and electronic media for information and entertainment purposes
Metal ProductsManufacturing and distribution of finished metal products such as metal pipes and tubes among others
Mining - Metals & MineralsCompanies involved in mining activities of metals & minerals
Non Ferrous & Precious MetalsManufacturing of metal products other than iron excluding companies which make finished products
Oil - Refining and MarketingCompanies engaged in refining and supply of oil & gas products. Excluding companies involved in processing and supply of natural gas and petrochemicals which are covered in separate sector
Oil & Gas ExplorationCompanies involved in exploration for drilling and production of oil & gas resources
OthersCompanies with businesses/products not classified in any of the mentioned sectors
Packaging and Allied ActivitiesManufacturing and distribution of packaging material.
PaintsManufacturing and distribution of paints
Paper & Paper ProductsManufacturing and distribution of paper and paper products
Petrochemicals and PolymersManufacturing and distribution of petrochemical products such as PET resins, polystyrene among others
PharmaceuticalsManufacturing and distribution of over-the-counter & prescription drugs and allied activities, including life science products
Plastic and Plastic ProductsManufacturing and distribution of plastic and plastic products
PowerCompanies engaged in generation, transmission and distribution of electricity.
Power EquipmentsManufacturing of equipments related to management of electrical energy and EPC services in the power transmission and distribution business
Real EstateConstruction and development of residential and commercial infrastructure
RetailSale of goods using multi-brand retail outlets
ShippingWater transport services for commercial purposes
Software and ITeSCompanies engaged in providing various types of services related to information technology including consultancy.
Specialty Oils and LubricantsCompanies engaged in production and distribution of lubricant oils.
SugarManufacturing and distribution of sugar
Telecom ServicesCompanies providing fixed and mobile telecommunication services including data services
TextilesManufacturing and distribution of textile fibres and finished textile products
TradingCompanies engaged in trading activities of goods
Transport and LogisticsCompanies engaged in transportation and delivery services and allied activities for commercial as well as personal purposes
TyresManufacturing and distribution of tyres for automotive industry
Wood & Wood ProductsCompanies engaged in providing finished wood and related products such as plywood