IOC tops Fortune India 500 list
New Delhi 13-Dec-2011

State-run IndianOil has emerged as the country’s biggest company in terms of annual revenue, followed by Mukesh Ambani-led private sector giant Reliance Industries at the second place, as per an annual list of Fortune 500 companies in India.

This year’s list of the country’s 500 largest corporations, compiled by the global business magazine Fortune’s Indian edition, features as many as 57 new entities.

All the 500 firms together recorded a collective turnover of Rs 45,79,911.38 crore in the latest financial year.

IndianOil (IOC) was the biggest with annual revenue of Rs 3,23,113.12 crore, followed by Reliance Industries (RIL) with a full-year revenue of Rs 2,72,923.36 crore.

Both IOC and RIL have retained their top-two ranks from the previous year, Fortune India said.

In this year’s list, the two are followed by Bharat Petroleum (Rs 1,56,580.12 crore) at the third and State Bank of India (Rs 1,47,843.92 crore) at the fourth place.

Other entities in the list are Hindustan Petroleum (5th rank), Tata Motors (6), Oil & Natural Gas Corp (7), Tata Steel (8), Hindalco Industries (9) and Coal India (10).

There are as many as six state-run companies in the top-ten positions, as against four from the private sector.

The magazine said that the total sales of the country’s 500 top corporations have grown by 21.5 per cent from the last year, while their median growth has been even higher at about 25 per cent.

“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,” it added.

However, Fortune India said, some hint of impendingtrouble can be seen in profit growth, which has fallen from 27.1 per cent last year to 21.6 per cent this year.

“For most of the Fortune India 500 companies, erosion in profitability has been severe. This is evident from a low 6.4 per cent profit growth for a median-sized Fortune India 500 company. “These could be early signals of a deterioration in financial ratios, with all sizes of companies reporting a slower growth in their networth and asset creation,” Fortune India said about the list.

Companies have been ranked by their latest annual audited total income for the financial year ending on or before June 30, 2011.

For the ranking, audited results declared before October 31, 2011, have been used.

Other companies in the list include ICICI Bank (12th spot), Bharti Airtel (13), Essar Oil (15), Bharat Heavy Electricals Ltd (17), Infosys (27), Reliance Communications (35) and Tata Power (40).

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The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
ndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
The User's right to privacy is of paramount importance to IndianOil. Any information provided by the User will not be shared with any third party. IndianOil reserves the right to use the information to provide the User a more personalized online experience.
The Site provides links to web sites and access to content, products and services from third parties, including users, advertisers, affiliates and sponsors of the Site. You agree that IndianOil is not responsible for the availability of, and content provided on, third party web sites. The User is requested to peruse the policies posted by other web sites regarding privacy and other topics before use. IndianOil is not responsible for third party content accessible through the Site, including opinions, advice, statements and advertisements, and User shall bear all risks associated with the use of such content. IndianOil is not responsible for any loss or damage of any sort User may incur from dealing with any third party.

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