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IndianOil frontrunner in Oil & Gas category in FE-500 listing of India's top corporates
Indian Oil Corporation Ltd. has done it again. It is the frontrunner petroleum downstream company (Oil & Gas category) of India in the Financial Express FE-500 listing released this week for the year 2008. The list includes all public and private sector companies (excluding banks and non-banking finance companies) that are listed on the markets.
IndianOil has been ranked in the top slot on the basis of net sales placed while it occupies the No.2 and No. 4 positions in terms of assets and of net worth.
The accompanying FE Bureau story says..."The India growth story so far and henceforth rests on the fortunes of several corporations. Indian Oil Corporation is definitely one of them. The sheer magnitude of operations and its reach make it a critical element in India's growth prospects..." Mr. Sarthak Behuria, Chairman, IndianOil, is quoted as saying, "IndianOil too is seeking quantum leaps in its core business, adding on new and emerging segments on the way."
The FE-500 list has been compiled largely from published balance sheets of companies that closed their last financial year between April 1, 2007 and March 31, 2008. The rankings haves been done on the basis of net sales, assets, operating profits, gross profits, market capitalisation, net worth, earnings per share, debt, return on sales/assets, return on net worth, and operating profits.
The analysis reflects that after a sparkling performance in 2006-07, the Indian corporate sector showed a slight dull moment in its performance during 2007-08. Rising costs of raw materials and energy placed come obstacles in their growth path.
As the Financial Express score card of India Inc, FE-500 shows why the top companies have made it there. These are the companies that saw the slowdown building up as a financial year 2007-08 rolled out. But the winners did more; they have basically ploughed their investments into the rural markets to take advantage of the inevitable rebound.
The publication also captures the key financial parameters of the corporate sector. What sets the FE-500 list apart is its emphasis on fundamental performances like top line revenue figures and not the market capitalisation as reflected in the stock market. The publication states that reflecting the difficult times the expansion plans of all the top 15 companies are focussed only on their core expertise and has been clear in their communication with their stakeholders.
IndianOil's top ranking among the Indian corporates is due to its well laid-out road map of vertical integration-upstream into oil exploration & production (E&P) and downstream into petrochemicals-and diversification into natural gas marketing, besides globalisation of its downstream operations.
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| Updated on April 01, 2009 |
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