 "Companies")
A ranking of the country’s best unlisted companies is dominated by subsidiaries of some of the world’s top multinationals, such as Coca-Cola Company, Microsoft, Kia, Hyundai Motors, FIAT, Apple Inc., Amazon and Pernod Ricard, among others.
In all, 18 out of the best 30 unlisted companies in the 2021 league table are local subsidiaries of global multinationals. This is no surprise. Like their listed peers, Indian subsidiaries of global MNCs are mostly market leaders, with superior profitability, well-capitalised balance sheets and minimal debt on their books.
However, many unlisted companies had yet to declare their audited financials for the financial
