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

Accounts for 7 per cent of cumulative revenues, 11 per cent of profits; ICICI Bank, L&T make it to top 10

Mukesh Ambani-led Reliance Industries has topped the Fortune India-500 list for the second straight year, accounting for seven per cent of cumulative revenues and 11 per cent profit of the companies featured.

Last year, RIL pipped public sector Indian Oil Corporation to make it to the top slot for the first time. The Fortune India 500 list is based on revenue and the figures this year pertain to fiscal year 2019-2020. 

This year, ICICI Bank, ranked nine and Larsen & Toubro at 10 made it to the top 10, as Coal India and Tata Steel slipped out; Tata Steel had ranked eighth on the 2019 list and Coal India ninth. 

The largest companies continued to account for bulk of the cumulative revenues of the 500 companies. The list showed 38 companies clocking revenues of over Rs 50,000 crore each, together accounting for nearly 60 per cent of the total revenues this year, Fortune India said. 

On the other hand, as many as 139 companies reported revenues of under Rs 3,000 crore each, together accounting for just under 4 per cent of the total revenues. The manufacturing sector, with 303 companies, accounted for 62 per cent of the total revenue, and 76 per cent of the total profit. The services sector, with 145 companies, contributed 33 per cent of the total revenue and 19 per cent of the total profit. 

Oil and gas companies together accounted for 22 per cent and 20 per cent of the total revenue and profit, respectively with Reliance Industries leading the pack.

Top 10 companies on the 2020 Fortune India-500 list:

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