MOST VALUABLE COMPANIES

INDIA'S MOST VALUABLE COMPANIES

RANK

AVERAGE MARKET CAPITALISATION (` CRORE)

2021 2020

COMPANY

Oct '20 - Sep '21 Oct '19 - Sep '20 Growth %

FY 2020-21

FY 2019-20

1

1 Reliance Industries

2

2 Tata Consultancy Services

3

3 HDFC Bank

4

6 Infosys

5

4 Hindustan Unilever

6

5 Housing Development Finance Corp.

7

8 ICICI Bank

8

7 Kotak Mahindra Bank

9

12 Bajaj Finance

10

11 State Bank of India

11

9 Bharti Airtel

12

15 HCL Technologies

13

19 Wipro

14

14 Asian Paints

14,08,501 11,64,307 8,01,370 5,85,801

5,54,115 4,49,560 4,07,221 3,53,575 3,28,079 3,12,566 2,98,590 2,64,509 2,62,705 2,56,570

10,50,489 7,90,385 6,08,564 3,26,616 4,77,027 3,45,449 2,74,561 2,80,562 2,07,472 2,16,328 2,64,946 1,59,354 1,36,068 1,69,354

34.1 47.3 31.7 79.4 16.2 30.1 48.3 26.0 58.1 44.5 12.7 66.0 93.1 51.5

12,86,606 9,41,923 6,67,802 4,32,229 5,15,464 3,69,541 2,96,406 3,04,298 2,28,123 2,12,122 2,85,041 2,06,786 1,76,685 1,98,674

8,57,233.19 7,97,054.41 6,48,697.13 3,17,463.82 4,17,043.66 3,74,433.12 2,91,865.67 2,93,671.64 2,19,241.09 2,76,419.53 2,06,319.51 1,48,686.14 1,49,025.75 1,55,692.52

Overall ranks are based on average market capitalisation (October 2020 to September 2021). `Rank 2020' is as published in last year's BT500. Parameter ranks are for within the top 1,000 companies. Ranks have been assigned based on multiple decimals. Because of rounding off, some ranks may appear incorrect. Results are audited and standalone. Figures in brackets denote negative value. ROCE: Return on capital employed; RONW: Return on net worth; na: Not available; N/A: Not applicable; N/L: Not listed on the bourses; N/R: Not

2

Business Today 28 November 2020

THE LIST (1-14 / 500)

TOTAL ASSETS (` CRORE)

TOTAL INCOME (` CRORE) PROFIT AFTER TAX (` CRORE)

FY 21

FY 2020-21 FY 2019-20

RANK 2021 FY 2020-21 FY 2019-20 RANK 2021 FY 2020-21 FY 2019-20 RANK 2021

ROCE (%)

PROFIT AS % RONW (%) OF TOTAL

SALES

8,75,181 9,78,899

1

1,06,221 1,02,756

15

17,46,871 15,30,511

N/A

92,984

79,612

16

68,116

19,341

23

5,65,943 5,22,526

N/A

12,30,433 10,98,365

N/A

3,83,489 3,60,252

N/A

1,37,420

1,37,156

N/A

45,34,430 39,51,394

N/A

2,61,909

2,77,671

6

54,693

51,808

30

65,689

64,873

25

17,583

13,588

78

2,61,179 3,50,689

1,41,363 1,39,388

1,46,063 1,38,073

88,658

82,275

46,509

39,518

48,178 58,763

98,087

91,247

32,299 32,302

23,564 23,834

3,08,647 3,02,545

66,714 56,560

36,656 33,279

52,991

53,160

18,883

17,552

2 31,944 30,903

5 30,960 33,260

N/A

31,117 26,257

8 18,048 15,543

21

7,954

6,738

N/A 12,027

17,770

N/A

16,193

7,931

N/A

6,965

5,947

N/A

3,956

4,881

N/A 20,410 14,488

13 (25,198) (36,088)

27

8,743

8,969

16 10,061

8,681

43

3,053

2,654

1

6.3

7.7

11.5

2

56.2

42.0

22.8

N/A

14.5

16.6

25.7

5

36.8

27.1

21.0

18

38.2

28.7

15.4

N/A

8.2

12.5

25.0

N/A

10.4

12.6

20.5

N/A

12.3

12.5

25.9

N/A

9.5

11.8

16.8

N/A

6.5

9.3

7.7

877

(3.7)

(28.2)

(39.2)

15

30.9

21.6

24.5

14

25.5

22.1

20.0

32

38.6

28.3

14.1

ranked last year. All the latest data for FY 2020-21 unless otherwise indicated; * 12 months ending September 2020; ** 12 months ending March 2020; ^12 months ending June 2020; # 12 months ending December 2020; ##12 months ending December 2019. BFSI (banking, financial services and insurance) companies have a different way of earning and presenting financial data, so their income, profit and asset numbers have not been ranked. Source: ACE Equity.

28 November 2020 Business Today

3

INDIA'S MOST VALUABLE COMPANIES

RANK

AVERAGE MARKET CAPITALISATION (` CRORE)

2021 2020

COMPANY

Oct '20 - Sep '21 Oct '19 - Sep '20 Growth %

FY 2020-21

FY 2019-20

15

10 ITC

16

13 Maruti Suzuki India

17

16 Axis Bank

18

20 Avenue Supermarts

19

17 Larsen & Toubro

20

22 UltraTech Cement

21

23 Bajaj Finserv

22

18 Nestl? India #

23

68 Adani Green Energy

24

25 Sun Pharmaceutical Industries

25

28 Titan Co.

26

24 HDFC Life Insurance Co.

27

21 Oil and Natural Gas Corp.

28

51 JSW Steel

29

39 Adani Ports and Special Economic Zone

30

35 Hindustan Zinc

31

30 Power Grid Corp. of India

32

60 Tata Steel

33 120 Adani Enterprises

34

33 Bajaj Auto

35

47 Divi's Laboratories

36

26 NTPC

37

41 Tech Mahindra

38

34 Dabur India

39

38 Pidilite Industries

40

37 Shree Cement

41

99 Adani Transmission

42

32 SBI Life Insurance Co.

43

42 Mahindra & Mahindra

44

29 Indian Oil Corp.

45

31 Bharat Petroleum Corp.

46

43 SBI Cards and Payment Services

47

157 Adani Total Gas

48

67 Tata Motors

49

36 Britannia Industries

2,52,716 2,16,208 2,10,691 1,95,648 1,95,321 1,80,381 1,71,680 1,69,869 1,64,304 1,52,532 1,39,415 1,36,454 1,30,725 1,28,201 1,27,035 1,22,454

1,11,278 1,08,928 1,07,331 1,06,766 1,05,991 1,02,841 1,01,221

97,244 96,526 95,696 95,680 95,465 94,917 92,509 92,182 90,752 88,087 87,474 86,989

2,54,327 1,92,898 1,58,665 1,35,574 1,53,622 1,14,153 1,13,938 1,52,320

39,529 1,08,437

97,721 1,13,523 1,21,897 55,422

69,745 82,693 93,690 44,868 21,270 83,661 59,296 1,01,002 65,899 83,623 72,037 74,883 28,250 85,568 64,366 96,722 91,813 63,854

16,118 39,610 78,596

(0.6) 12.1 32.8

44.3 27.1 58.0 50.7 11.5 315.7 40.7 42.7 20.2 7.2 131.3 82.1 48.1 18.8 142.8 404.6 27.6 78.7 1.8 53.6 16.3 34.0 27.8 238.7 11.6 47.5 (4.4) 0.4 42.1 446.5 120.8 10.7

2,38,308 2,00,256 1,58,120

1,58,471 1,51,209 1,32,799 1,11,893 1,62,936 1,07,132 1,26,125 1,07,339 1,22,084 1,05,961

70,583 84,160 95,469 95,534 56,456 40,191 90,494 80,747 92,838 74,809 88,126 78,197 81,427 39,317 83,007 78,271 82,127 84,244 74,884 29,728 51,999 84,806

3,06,957.91 2,01,327.15 1,93,752.79 1,07,644.17 1,89,713.61 1,19,616.37 1,30,519.32 1,28,271.87

14,726.69 1,00,554.08 1,04,394.05 1,05,222.50 1,67,931.90

60,877.45 77,335.82 91,608.27 1,01,250.51 51,638.37 18,790.46 84,706.71 46,533.01 1,19,319.91 71,076.98 77,962.86 68,425.23 72,639.44 27,927.02 82,170.65 70,043.26 1,25,891.99 91,146.09 62,009.13 16,346.11 46,372.88 70,157.43

Overall ranks are based on average market capitalisation (October 2020 to September 2021). `Rank 2020' is as published in last year's BT500. Parameter ranks are for within the top 1,000 companies. Ranks have been assigned based on multiple decimals. Because of rounding off, some ranks may appear incorrect. Results are audited and standalone. Figures in brackets denote negative value. ROCE: Return on capital employed; RONW: Return on net worth; na: Not available; N/A: Not applicable; N/L: Not listed on the bourses; N/R: Not

4

Business Today 28 November 2020

TOTAL ASSETS (` CRORE)

TOTAL INCOME (` CRORE) PROFIT AFTER TAX (` CRORE)

FY 21

FY 2020-21 FY 2019-20

RANK 2021 FY 2020-21 FY 2019-20 RANK 2021 FY 2020-21 FY 2019-20 RANK - 2021

PROFIT AS % ROCE (%) RONW (%) OF TOTAL

SALES

71,581 70,067 9,96,118 13,646 1,47,459 80,416

3,869 7,880 13,976 39,382 15,755

N/A 3,18,454 1,33,232

58,075 44,669 2,62,970 1,65,036 12,992 31,530 11,340 3,54,388 32,969

7,487 10,510 20,253 12,185

N/A 59,589 3,56,964 1,40,604 26,618

3,222 65,060

7,416

75,235 62,552 9,15,165 12,084 1,40,128 71,817

3,592 7,173 6,325 38,747 13,016 N/A 3,03,336 1,22,042 50,858 45,153 2,64,104 1,50,393 13,807 24,773 9,408 3,40,452 29,886 6,078 8,379 18,594 12,934 N/A 50,502 3,30,064 1,26,469 25,032 2,486 62,590 7,253

20 21 N/A 95 9 18 N/A 157 91 40 83 N/A 4 12 28 36 5 8 100 48 110 3 46 166 122 67 104 N/A 27 2 10 N/A 326 26 170

48,737 48,645

73,279

79,031

78,483

78,172

23,996

24,738

89,731 90,383

43,977

41,376

392

815

13,501

12,617

3,006

1,580

12,965

14,043

20,783

20,156

N/A

N/A

87,384 1,16,206

71,437

65,216

7,362

7,673

24,448 20,495

40,752 38,320

65,507 60,843

13,751

16,619

29,023

31,652

6,861

5,500

1,04,795 1,04,421

30,563

31,592

7,461

6,587

6,290

6,484

13,046

12,176

1,435

1,654

N/A

N/A

46,497

47,251

3,90,140 4,92,860

2,36,897 2,87,650

9,714

9,752

1,740

1,919

47,895 45,343

12,672

11,327

17 13,032

15,136

10

4,230

5,651

N/A

6,589

1,627

36

1,165

1,350

7

11,337

6,679

23

5,342

5,456

N/A

179

667

61

2,082

1,968

243

364

134

64

2,140

3,211

41

877

1,517

N/A

1,360

1,295

9

11,246 13,464

11

8,393

5,291

110

1,928

1,934

34

7,980

6,805

26

11,936

10,811

14 13,607

6,744

60

369

699

32

4,555

5,100

117

1,955

1,373

6 13,770

10,113

31

4,239

4,535

105

1,382

1,170

128

1,081

1,102

63

2,312

1,570

434

(21)

6

N/A

1,456

1,422

22

269

1,331

1 21,836

1,313

3 19,042

2,683

N/A

985

1,245

381

472

436

19 (2,395) (7,290)

66

1,760

1,484

8

28.0

21.8

26.9

26

10.5

8.5

6.0

N/A

6.9

7.1

10.4

69

13.5

10.0

4.5

10

22.7

20.2

15.2

22

15.6

13.1

12.4

N/A

6.7

4.9

55.2

41

147.9

105.8

15.1

180

11.3

23.0

14.7

40

7.7

8.7

14.8

95

13.7

12.2

4.3

N/A

16.9

17.6

N/A

11

8.7

5.7

16.5

16

16.9

19.8

11.9

44

10.0

9.3

44.0

17

27.3

22.0

35.3

9

12.0

23.0

31.7

7

17.8

16.5

21.0

176

15.4

9.3

2.8

24

26.2

20.2

16.4

43

31.6

23.6

28.8

6

8.3

12.1

13.9

25

22.5

18.3

14.3

57

32.9

28.4

17.8

77

29.2

21.7

17.4

38

19.6

16.4

18.4

781

5.4

(1.5)

(2.8)

N/A

16.3

15.3

N/A

235

5.2

0.8

0.6

3

15.9

21.4

4.2

4

30.6

43.8

6.3

N/A

10.0

17.0

10.6

153

31.1

27.5

26.4

869

0.1

(13.1)

(5.1)

48

46.8

46.7

13.6

ranked last year. All the latest data for FY 2020-21 unless otherwise indicated; * 12 months ending September 2020; ** 12 months ending March 2020; ^12 months ending June 2020; # 12 months ending December 2020; ##12 months ending December 2019. BFSI (banking, financial services and insurance) companies have a different way of earning and presenting financial data, so their income, profit and asset numbers have not been ranked. Source: ACE Equity.

28 November 2020 Business Today

5

INDIA'S MOST VALUABLE COMPANIES

RANK

AVERAGE MARKET CAPITALISATION (` CRORE)

2021 2020

COMPANY

Oct '20 - Sep '21 Oct '19 - Sep '20 Growth %

FY 2020-21

FY 2019-20

50

27 Coal India

51

40 Godrej Consumer Products

52

48 Dr. Reddy's Laboratories

53

61 Grasim Industries

54

58 Vedanta

55

44 ICICI Prudential Life Insurance Co.

56

73 Hindalco Industries

57

53 Berger Paints India

58

45 IndusInd Bank

59

52 Eicher Motors

60

86 Larsen & Toubro Infotech

61

59 Cipla

62

62 DLF

63

50 ICICI Lombard General Insurance Co.

64

72 Havells India

65

57 Siemens *

66

56 InterGlobe Aviation

67

84 Info Edge (India)

68

69 Ambuja Cements #

69

66 Indus Towers

70

82 Motherson Sumi Systems

71

49 HDFC Asset Management Co.

72

54 Hero MotoCorp

73

91 Tata Consumer Products

74

55 GAIL (India)

75

63 Marico

76

89 Cadila Healthcare

77

46 Bandhan Bank

78

80 Muthoot Finance

79

78 Aurobindo Pharma

80

65 Biocon

81

N/L Gland Pharma

82

76 UPL

83

77 Lupin

84

75 Torrent Pharmaceuticals

85,518 83,110 82,537 82,314 80,319 76,400 73,782 72,742 71,900 70,642 70,154 69,609 67,222 66,576 64,808 64,536 64,405 62,344 62,087 61,555 61,497 60,941 60,511 60,508 59,592 57,907 52,988 52,841 52,716 51,886 48,668 48,436 48,052 47,443 46,720

98,949 66,823 58,957 43,627 45,325 63,172 37,709 49,935 60,589 52,029 32,991 44,885 43,627 58,168 37,934 46,522 47,036 33,590 39,048 39,674 34,185 58,705 48,729 30,240 47,726 43,328 31,623 59,531 35,179 35,763 40,044

N/A 37,332 36,674 37,496

(13.6) 24.4 40.0 88.7 77.2 20.9 95.7 45.7 18.7 35.8 112.6 55.1 54.1 14.5 70.8 38.7 36.9 85.6 59.0 55.1 79.9

3.8 24.2 100.1 24.9 33.6 67.6 (11.2) 49.8 45.1 21.5 N/A 28.7 29.4 24.6

81,830 69,251 75,088 53,162 48,958 62,777 45,028 59,015 50,548 59,480 48,949 58,750 47,484 60,818 47,268 48,575 50,829 46,665 45,401 46,993 40,525 55,537 57,062 45,521 47,847 47,368 41,473 50,801 44,904 47,658 48,867 37,872 36,007 42,991 43,814

1,28,135.77 67,296.34 46,523.68 51,100.85 55,356.35 61,390.65 42,738.97

41,122.13 91,360.60 52,774.65 29,495.96 39,241.89 46,460.20 55,073.12 42,575.25 47,810.63 57,074.41 28,137.88 40,885.20 46,192.46 37,840.08 54,163.32 49,581.00 18,485.21 60,516.20 45,377.86 26,250.99 68,646.35 26,974.92 32,607.33 32,048.70

N/A 44,186.98 33,617.01 29,985.67

Overall ranks are based on average market capitalisation (October 2020 to September 2021). `Rank 2020' is as published in last year's BT500. Parameter ranks are for within the top 1,000 companies. Ranks have been assigned based on multiple decimals. Because of rounding off, some ranks may appear incorrect. Results are audited and standalone. Figures in brackets denote negative value. ROCE: Return on capital employed; RONW: Return on net worth; na: Not available; N/A: Not applicable; N/L: Not listed on the bourses; N/R: Not

6

Business Today 28 November 2020

Average market cap of Tata Consumer Products doubles

Newly-listed Gland Pharma is now in the top 100 firms

TOTAL ASSETS (` CRORE)

TOTAL INCOME (` CRORE) PROFIT AFTER TAX (` CRORE)

FY 21

FY 2020-21 FY 2019-20

RANK 2021 FY 2020-21 FY 2019-20 RANK 2021 FY 2020-21 FY 2019-20 RANK - 2021

PROFIT AS % ROCE (%) RONW (%) OF TOTAL

SALES

22,499

22,398

61

9,647

8,648

128

21,375

18,863

66

54,700

49,579

29

1,37,397 1,35,986

11

N/A

N/A

N/A

87,947

80,058

17

5,368

4,343

222

3,62,973 3,07,058

N/A

12,625

10,579

103

9,940

8,103

126

22,964

20,406

59

37,877

39,689

43

N/A

N/A

N/A

8,820

7,048

139

21,995

21,286

63

42,679

41,754

38

6,170

3,902

195

25,481

26,991

52

44,947

19,940

34

13,503

9,158

96

5,095

4,287

N/A

23,079

19,823

57

13,432

12,050

98

74,874

70,401

19

4,306

3,988

265

18,464

16,552

70

1,14,993

91,718

N/A

63,436

50,460

N/A

23,189

19,564

56

8,427

8,131

145

6,496

4,086

188

15,283

13,828

85

21,859

20,681

64

11,733

11,817

108

8,428 6,319 14,150 15,158 48,388

N/A 43,668

6,077 35,558

9,071 11,800 14,131 4,429

N/A 10,616 10,851 15,677

1,217 11,744 14,812 7,945 2,202 31,380 7,287 58,736 6,686 7,871 14,633 10,574 16,414 2,180 3,598 11,469 11,185 6,569

12,521 5,566 12,594 19,290 38,728

N/A 41,052 5,843 35,734 9,693 10,615 13,573

4,915 N/A

9,541 14,161 37,292 1,360 12,094 7,204 8,308 2,143 29,614 5,811 73,616 6,162 7,702 12,435 8,723 13,760 2,389 2,772 10,147 11,501 6,405

93

7,640

127

1,224

57

2,186

52

905

18 10,503

N/A

960

24

993

130

681

N/A

2,836

88

1,330

71

1,787

58

2,468

178

1,076

N/A

1,473

78

1,040

76

757

50 (5,830)

489

271

72

1,790

54

3,338

98

521

N/A

1,326

30

2,964

111

620

15

4,890

119

1,106

100

1,476

N/A

2,205

N/A

3,722

46

3,113

311

281

207

997

74

220

75

1,259

122

1,138

11,281 1,180 2,938 1,288 (6,732) 1,069 620 699 4,418 1,904 1,552 2,318 2,264 1,194

733 1,087 (248)

206 1,529 1,747

899 1,262 3,633

524 6,621 1,007 1,413 3,024 3,018 1,877

441 773 461 728 939

19

45.7

45.5

1,002.3

67

27.4

21.4

19.6

39

17.8

13.7

16.4

94

2.9

2.2

5.6

13

14.6

14.4

28.1

N/A

12.6

12.0

N/A

87

4.4

2.1

2.3

112

30.3

23.1

11.3

N/A

8.2

7.4

9.8

60

19.9

14.9

15.4

47

40.5

29.8

15.5

36

18.2

13.2

16.7

78

5.9

3.9

27.6

N/A

26.9

21.7

N/A

80

30.4

22.0

9.9

106

11.7

8.2

7.2

875

(80.2) (198.0)

(39.8)

232

10.1

7.8

24.7

46

11.7

8.4

14.1

28

25.5

22.4

23.9

139

8.1

8.0

6.7

N/A

39.9

30.2

71.6

33

26.7

20.2

9.6

122

7.8

5.6

8.7

23

12.8

10.8

8.6

76

43.2

37.7

15.9

55

11.1

12.3

18.9

N/A

12.0

13.5

17.6

N/A

15.8

27.8

35.3

31

23.0

21.5

19.6

222

4.7

3.7

13.8

86

60.4

45.0

38.7

270

8.3

2.8

1.7

65

9.2

7.1

10.6

72

16.3

20.4

17.4

ranked last year. All the latest data for FY 2020-21 unless otherwise indicated; * 12 months ending September 2020; ** 12 months ending March 2020; ^12 months ending June 2020; # 12 months ending December 2020; ##12 months ending December 2019. BFSI (banking, financial services and insurance) companies have a different way of earning and presenting financial data, so their income, profit and asset numbers have not been ranked. Source: ACE Equity.

28 November 2020 Business Today

7

INDIA'S MOST VALUABLE COMPANIES

RANK

AVERAGE MARKET CAPITALISATION (` CRORE)

2021 2020

COMPANY

Oct '20 - Sep '21 Oct '19 - Sep '20 Growth %

FY 2020-21

FY 2019-20

85

121 Apollo Hospitals Enterprise

86

64 United Spirits

87

71 Colgate-Palmolive (India)

88

94 Piramal Enterprises

89

70 Bosch

90

96 NMDC

91

81 Procter & Gamble Hygiene and Health Care ^

92

114 Jubilant FoodWorks

93

117 PI Industries

94

83 IDBI Bank

95 125 SRF

96

132 Cholamandalam Investment & Finance Co.

97

85 Punjab National Bank

98

87 Bajaj Holdings & Investment

99

170 Steel Authority of India

100 116 Godrej Properties

101

97 Alkem Laboratories

102 122 Balkrishna Industries

103 108 YES Bank

104 168 Mindtree

105 104 ACC #

106 146 Mphasis

107

93 Indraprastha Gas

108

74 Petronet LNG

109

79 Hindustan Petroleum Corp.

110

92 Bank of Baroda

111 103 Honeywell Automation India

112 N/L Macrotech Developers

113 143 Gujarat Gas

114 115 Bharat Electronics

115

90 Abbott India

116 166 Jindal Steel & Power

117

98 Container Corp. of India

118 101 MRF

119 106 Hindustan Aeronautics

45,181 43,849 43,632 43,253 41,938 40,603 40,120 39,726 38,991 38,935 38,799 38,663 38,550 38,326 36,823 36,709 36,594 36,516 36,079 36,043 35,841 35,620 35,596 35,504 35,297 35,263 35,018 35,007 34,986 34,674 34,651 34,303 33,741 33,733 33,395

20,891 42,708 38,233 29,535 38,260 29,144 34,745 22,570 22,129 33,648 20,518 19,480 33,406 32,158 14,855 22,146 28,779 20,656 24,731 14,971 25,429 17,235 29,854 37,674 35,282 30,020 25,687

N/A 17,966 22,338 31,327 15,274 28,305 26,641 25,121

116.3 2.7 14.1

46.4 9.6

39.3 15.5 76.0 76.2 15.7 89.1 98.5 15.4 19.2 147.9 65.8 27.2 76.8 45.9 140.7 40.9 106.7 19.2 (5.8) 0.0 17.5 36.3 N/A 94.7 55.2 10.6 124.6 19.2 26.6 32.9

28,207 41,066 39,929 30,894 37,645 29,136 35,106 29,359 29,158 35,583 26,319 24,081 32,624 30,337 18,562 26,115 32,372 26,651 36,517 21,310 27,893 23,078 31,977 36,427 31,866 25,657 29,298

N/A 23,009 25,068 33,641 21,400 25,657 29,535 27,786

19,731.61 42,975.54 35,781.35 36,217.48 44,415.16 31,633.64 35,463.14 19,087.58 17,639.97 29,885.96 17,576.28 22,634.86 35,734.67 37,870.42 17,477.66 23,054.74 23,816.89 16,955.77 22,323.37 13,638.56 28,247.04 17,106.78 25,990.97 37,893.51 40,715.21 40,250.41 23,543.53

N/A 14,023.58 24,061.31 22,930.82 14,569.23 32,268.44 25,781.16 23,637.31

Overall ranks are based on average market capitalisation (October 2020 to September 2021). `Rank 2020' is as published in last year's BT500. Parameter ranks are for within the top 1,000 companies. Ranks have been assigned based on multiple decimals. Because of rounding off, some ranks may appear incorrect. Results are audited and standalone. Figures in brackets denote negative value. ROCE: Return on capital employed; RONW: Return on net worth; na: Not available; N/A: Not applicable; N/L: Not listed on the bourses; N/R: Not

8

Business Today 28 November 2020

TOTAL ASSETS (` CRORE)

TOTAL INCOME (` CRORE) PROFIT AFTER TAX (` CRORE)

FY 21

FY 2020-21 FY 2019-20

RANK 2021 FY 2020-21 FY 2019-20 RANK 2021 FY 2020-21 FY 2019-20 RANK - 2021

PROFIT AS % ROCE (%) RONW (%) OF TOTAL

SALES

10,753

11,112

118

8,997

9,581

135

5,736

3,391

210

35,500

39,280

45

14,537

13,325

90

40,564

37,042

39

1,799

1,580

467

4,464

3,977

262

7,842

4,923

159

2,97,764 2,99,928

N/A

10,711

8,820

120

73,785

63,482

N/A

12,60,633 8,30,666

N/A

14,503

10,881

N/A

1,17,339 1,23,090

14

14,834

9,718

86

9,818

8,287

127

8,040

6,731

151

2,73,543

2,57,827

N/A

6,326

4,973

194

18,126

17,082

74

5,851

5,320 205

8,587

7,172

140

18,933

18,699

68

1,31,239

1,14,015

13

11,55,365 11,57,916

N/A

3,898

3,401

287

31,874

34,418

47

8,449

7,897

143

28,590

23,414

50

3,823

3,532 289

69,437

61,801

22

12,140

11,552

105

22,260

19,154

62

51,819

52,740

32

9,175 7,937 4,872 3,240 10,270 15,722 3,046 3,339 4,390 24,557 7,052 9,522 93,562

431 70,122

1,241 7,410 5,919 23,383 8,120 13,990 5,651 5,091 26,411 2,35,786 82,859 3,116 4,685 9,928 14,219 4,393 34,180 6,670 16,129 23,113

9,812 9,189 4,574 4,921 10,459 12,213 3,002 3,955 3,355 25,295 6,693 8,655 63,074 2,206 62,646 2,605 6,773 5,148 37,923 7,840 15,970 4,670 6,642 35,825 2,70,605 86,301 3,400 8,549 10,384 13,254 4,208 26,439 6,754 16,322 21,741

87

105

470

99

310

705

156

1,035

816

224

40

145

79

483

650

49

6,253

3,610

239

433

419

217

234

275

180

719

442

N/A

1,359 (12,887)

115

925

974

N/A

1,515

1,052

N/A

2,022

336

N/A

199

1,827

12

3,850

2,022

476

(43)

384

106

1,685

1,264

137

1,155

945

N/A (3,462) (16,418)

95

1,110

631

59

1,415

1,359

141

1,110

1,205

152

1,006

1,137

33

2,949

2,698

4 10,664

2,637

N/A

829

546

232

460

491

167

(186)

433

81

1,276

1,193

55

2,065

1,794

179

691

593

28

7,154

618

120

503

376

48

1,249

1,395

37

3,233

2,842

414

7.1

2.3

1.1

203

12.0

7.8

1.1

81

98.4

75.0

21.3

619

3.8

0.2

1.4

146

6.1

5.1

5.0

21

29.8

21.8

40.7

160

58.1

42.7

14.4

257

35.1

17.5

7.1

109

21.6

18.3

16.8

N/A

7.3

4.7

6.8

91

17.5

16.9

13.0

N/A

9.7

17.1

15.9

N/A

5.4

2.9

2.5

N/A

2.5

1.6

54.0

27

11.1

9.2

5.6

796

2.9

(0.6)

(7.5)

50

23.4

24.2

22.2

70

24.1

20.9

20.1

N/A

0.2

(12.6)

(17.3)

75

41.4

29.8

13.9

56

14.4

11.7

9.1

74

35.6

28.2

20.0

84

24.8

18.4

18.5

34

37.8

26.1

11.3

12

20.1

32.7

3.9

N/A

6.3

1.2

1.2

155

26.4

19.4

15.1

835

27.4

24.3

10.8

64

34.5

32.8

12.7

42

28.5

20.0

14.7

110

37.5

27.9

16.0

20

25.1

25.4

15.0

142

7.0

5.0

7.8

66

14.2

9.9

7.8

30

26.3

22.6

14.2

ranked last year. All the latest data for FY 2020-21 unless otherwise indicated; * 12 months ending September 2020; ** 12 months ending March 2020; ^12 months ending June 2020; # 12 months ending December 2020; ##12 months ending December 2019. BFSI (banking, financial services and insurance) companies have a different way of earning and presenting financial data, so their income, profit and asset numbers have not been ranked. Source: ACE Equity.

28 November 2020 Business Today

9

INDIA'S MOST VALUABLE COMPANIES

RANK

AVERAGE MARKET CAPITALISATION (` CRORE)

2021 2020

COMPANY

Oct '20 - Sep '21 Oct '19 - Sep '20 Growth %

FY 2020-21

FY 2019-20

120 136 Ashok Leyland

121

95 United Breweries

122 174 Tata Communications

123 119 AU Small Finance Bank

124 160 Astral

125 128 Shriram Transport Finance Co.

126

111 Page Industries

127 127 Voltas

128 178 Tata Power Co.

129 102 Power Finance Corp.

130 107 Kansai Nerolac Paints

131

131 Indian Railway Catering and Tourism Corp.

132 N/L Indian Railway Finance Corp.

133 109 Oracle Financial Services Software

134 110 ABB India #

135 137 Bharat Forge

136 144 Adani Power

137

88 General Insurance Corp. of India **

138 129 Varun Beverages #

139 152 IDFC FIRST Bank

140 167 L&T Technology Services

141 182 Max Financial Services

142 179 Dalmia Bharat **

143 100 Whirlpool of India

144 130 Trent

145 180 Indian Overseas Bank

146 N/L Sona BLW Precision Forgings

147 138 Vodafone Idea

148 141 Ipca Laboratories

149 112 REC

150 113 3M India

151 133 TVS Motor Co.

152 158 Aarti Industries

153 105 GlaxoSmithKline Pharmaceuticals

154 149 Aditya Birla Capital

33,311 33,174 32,967 31,939 31,866 31,802 31,679 31,543 31,341 31,127 31,098 30,812 30,765 30,758 30,418 29,685 29,466 29,085 28,865 28,730 28,715 28,655 28,593 28,369 28,308 28,298 27,305 27,227 27,170 27,110 26,477 26,297 25,611 25,601 25,104

19,112 29,176 14,257 21,722 15,892 20,191 23,043 20,470 13,803 26,182 25,094 19,515

N/A 23,772 23,372 19,104 17,840 32,112 20,104 16,582 15,118 13,452 13,716 27,084 20,048 13,755

N/A 19,065 18,551 22,908 22,881 19,418 16,088 25,218 16,994

74.3 13.7 131.2 47.0 100.5 57.5 37.5 54.1 127.1 18.9 23.9 57.9 N/A 29.4 30.1 55.4 65.2 (9.4) 43.6 73.3 89.9 113.0 108.5 4.7 41.2 105.7 N/A 42.8 46.5 18.3 15.7 35.4 59.2 1.5 47.7

23,262 27,980 23,707 23,381 19,908 21,668 24,864 23,669 18,714 26,343 26,539 22,989 32,456 25,361 22,273 21,448 16,791 25,360 22,217 19,523 18,607 18,230 16,736 27,597 22,808 17,562

N/A 26,374 24,290 22,716 23,146 21,408 18,836 25,221 17,720

22,776.29 34,240.47 12,272.95 22,488.21

16,118.85 24,438.04 24,057.03

21,215.33 16,031.61 29,982.95 25,662.49 17,161.51

N/A 26,083.03 29,308.09 20,924.38 21,642.37 38,735.83 18,870.22 20,209.61

16,487.74 12,194.46 17,478.02 23,829.70

17,111.49 11,354.54

N/A 22,949.30 13,376.89

27,315.81 24,470.00 20,754.89 14,657.45 23,407.79 20,428.15

Overall ranks are based on average market capitalisation (October 2020 to September 2021). `Rank 2020' is as published in last year's BT500. Parameter ranks are for within the top 1,000 companies. Ranks have been assigned based on multiple decimals. Because of rounding off, some ranks may appear incorrect. Results are audited and standalone. Figures in brackets denote negative value. ROCE: Return on capital employed; RONW: Return on net worth; na: Not available; N/A: Not applicable; N/L: Not listed on the bourses; N/R: Not

10

Business Today 28 November 2020

IRCTC retains its ranking with 58% growth in market cap

Vodafone Idea average market cap rises nearly 43%

TOTAL ASSETS (` CRORE)

TOTAL INCOME (` CRORE) PROFIT AFTER TAX (` CRORE)

FY 21

FY 2020-21 FY 2019-20

RANK 2021 FY 2020-21 FY 2019-20 RANK 2021 FY 2020-21 FY 2019-20 RANK - 2021

PROFIT AS % ROCE (%) RONW (%) OF TOTAL

SALES

18,450

16,390

71

5,877

5,692 203

13,861

13,172

93

51,591

42,143

N/A

2,222

1,942

411

1,34,212

1,18,055

N/A

1,698

1,513 489

7,961

7,611

154

42,869

37,616

37

3,88,087 3,58,835

N/A

5,209

4,592

226

3,165

3,375 330

3,78,700 2,78,052

N/A

6,104

5,993

196

7,473

7,590

167

11,115

9,717

112

24,408

22,530

53

N/A

N/A

N/A

8,322

8,444

147

1,63,144 1,49,200

N/A

4,820

4,045

242

6,668

2,526

N/A

7,700

7,677

162

4,972

4,346

235

5,599

5,288

217

2,74,010

2,60,727

N/A

1,765

1,579

475

2,03,131 2,28,886

7

6,010

5,185

199

4,00,560 3,46,073

N/A

2,891

2,637 346

10,197

9,353

125

7,514

6,089

165

2,994

3,023 339

9,735

9,626

N/A

15,429 4,291 6,517 6,402 2,507 17,447 2,852 6,598 7,970 37,371 4,729 869 15,771 3,792 5,941 3,792 582 N/A 4,948 18,222 5,138 308 317 5,989 2,252

22,525 844

42,197 5,243 35,410 2,447 16,784 4,319 3,304

109

17,591 6,514 5,966 4,992 2,054 16,582 2,970 7,457 8,815 34,076 4,970 2,344 13,421 3,721 8,333 4,725 1,916

N/A 5,714 18,030 5,394 495

257 6,121 3,334 20,766 540 46,153 4,422 29,877 2,806 16,455 4,005 3,302

201

51

(314)

185

113

123

963

N/A

1,171

278

327

N/A

2,487

247

341

121

570

96

921

N/A

8,444

163

531

565

190

N/A

4,416

200

1,639

136

219

199

312

658

(499)

N/A

(359)

155

226

N/A

452

150

673

N/A

99

763

135

134

333

302

(51)

N/A

831

573

188

25 (46,294)

148

1,141

N/A

8,362

285

149

45

612

183

514

220

358

N/A

73

240 427 209 675 201 2,502 343 595 148 5,655 535 513 3,192 1,583 303 474 (1,341) 2,224 449 (2,864) 790 273 101 476 155 (8,527) 84 (73,132) 652 4,886 219 592 523 110 30

847

(1.0)

(4.4)

(2.0)

397

5.0

3.2

1.1

89

14.5

11.1

15.5

N/A

15.6

22.3

23.6

196

28.6

22.0

13.1

N/A

10.3

12.6

14.3

190

55.5

40.0

12.0

133

16.0

12.4

8.9

93

6.6

6.0

14.5

N/A

9.2

17.3

22.7

137

18.3

13.5

10.1

305

19.3

13.7

24.3

N/A

52.1

41.6

20.7

52

39.3

30.3

45.0

273

8.8

6.2

3.8

201

5.4

5.5

8.5

855

0.6

(6.5)

(111.5)

N/A

(2.0)

(1.6)

N/A

263

6.4

5.7

3.9

N/A

6.3

2.7

2.8

115

31.4

22.8

13.6

N/A

2.9

2.2

32.4

369

2.1

1.8

89.4

193

17.4

12.7

4.4

799

6.2

(2.0)

(2.3)

N/A

5.7

5.8

4.9

309

17.4

16.0

24.5

878

(21.1)

0.0

(111.1)

71

30.5

27.1

22.2

N/A

9.3

21.5

23.6

349

9.5

7.0

6.2

126

17.7

15.7

3.7

140

12.8

16.3

10.7

183

33.0

21.3

11.2

N/A

0.8

0.8

67.7

ranked last year. All the latest data for FY 2020-21 unless otherwise indicated; * 12 months ending September 2020; ** 12 months ending March 2020; ^12 months ending June 2020; # 12 months ending December 2020; ##12 months ending December 2019. BFSI (banking, financial services and insurance) companies have a different way of earning and presenting financial data, so their income, profit and asset numbers have not been ranked. Source: ACE Equity.

28 November 2020 Business Today

11

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