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Reliance Industries tops Fortune India 500 list for second year in a row

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Despite the challenges of a slowing economy, RIL has managed to come up at the top of the list in the 2020 listing as well.

The Fortune India 500 list, the much-awaited annual listing of India’s largest corporations, is out now, and topping the list for the second straight year is the MukeshAmbani-led Reliance Industries Ltd (RIL).

Reliance pipped the public-sector Indian Oil Corporation (IOC) last year to top the Fortune India 500 for the first time ever. Despite the challenges of a slowing economy, RIL has managed to come up at the top of the list in the 2020 listing as well. The Fortune India 500 list is based on revenue, and the figures this year pertain to fiscal year 2019-2020.

Commenting on the list, Fortune India Editor SouravMajumdar said: “This year’s Fortune India 500 list is evidence of the challenges India’s largest companies had been facing even before the Coronavirus pandemic hit the global economy. However, it also demonstrates the might and resilience of the Indian corporate sector in dealing with the challenges and moving forward. The global economic landscape is changing rapidly, more so after the pandemic, and Corporate India will need to navigate this new world to stay ahead.”

The top 10 companies on the 2020 Fortune India 500 list are:

  1. Reliance Industries
  2. Indian Oil Corporation
  3. Oil and Natural Gas Corporation
  4. State Bank of India
  5. Bharat Petroleum Corporation
  6. Tata Motors
  7. Rajesh Exports
  8. Tata Consultancy Services
  9. ICICI Bank
  10. Larsen & Toubro

A major indicator of the health of the corporate sector in India, the Fortune India 500 listing is the definitive ranking of the biggest companies in the country. The issue also contains a sectoral list of the 500 firms, where companies are also ranked according to how they fared within the sectors in which they operate.

That the largest companies continue to account for the bulk of the cumulative revenues of the 500 companies is evident. The list shows 38 companies clocking revenues of over₹50,000 crore each, together accounting for nearly 60% of the total revenues this year. On the other hand, as many as 139 companies reported revenues of under ₹3,000 crore each, together accounting for just under 4% of the total revenues.

The manufacturing sector, with303 companies, accounted for 62% of thetotal revenue, and 76% of the total profit.The services sector, with 145 companies,contributed 33% of the total revenue and19% of the total profit. Oil and gas companies also have a major impact on the list, together accounting for 22%and 20% of the total revenue and profit,respectively. Reliance Industriesleads thepack, accounting for 7% and 11% of the totalrevenue and profit, respectively.

The lists apart, the Fortune India 500 issue also has stories on companies like Tata Motors and Page Industries, providing a detailed look at their business strategies.It also has an in-depth conversation with iconic banker Aditya Puri where he narrates how he set up HDFC Bank, India’s most-valued banking institution, and the management principles he follows.

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