The Hindu : IOC, SBI top Indian pack in Forbes

Online edition of India's National Newspaper
Wednesday, Mar 31, 2004

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IOC, SBI top Indian pack in Forbes

NEW YORK, MARCH 30. Twenty-seven Indian companies have made it to Forbes magazine's list of 2000 top firms worldwide with their ranking based on composite sales, profits, assets and market value.

The Indian pack is led by Indian Oil Corporation followed by State Bank of India and is dominated by banking, oil and gas industries. Among the Indian companies making it to the list are ten banking organisations, five oil and gas companies, two telecommunication firms and two software giants, Infosys and Wipro.

Indian Oil is ranked 243 and Oriental Bank of Commerce just about makes it, getting the last position — 2000. The number of Indian firms making it to the list is up from last year's 20.

The worldwide list is led by Citi Group and among the top ten are seven U.S. based companies, two British and one Japanese. The aggregate sale of the 2,000 companies is $19 trillion, which ring up profit of $760 billion. Their assets amount to $68 trillion with a market value of $24 trillion. Together, they employ 64 million workers.

Besides State Bank of India, which is ranked 251, the Indian banking group making it to the list include ICICI Bank (820), Canara Bank (1271), Punjab National Bank (1286), Bank of India (1344), Bank of Baroda (1358), Industrial Development Bank of India (1555), Union Bank of India (1642) and Indian Overseas Bank (1984). The companies dealing with oil and gas are led by Indian Oil Corporation, followed by Oil and Natural Gas Corporation (273), Reliance industries (303), Bharat Petroleum Corporation (804) and Hindustan Petroleum Corporation (856). Among telecommunication companies, Mahanagar Telephone Nigam is placed at 1922nd position followed by Bharti Tele Ventures at 1983. Software company, Infosys Technologies, is ranked 1320 just above Wipro whose position is 1343.

GAIL (India) is ranked 1238 and ITC gets a rank of 1311.

The Steel Authority of India is placed at 1393 position much above Tata Iron and Steel Company, which is ranked at 1530.

Among others, HDFC gets 1380th ranking, Ranbaxy Lab 1621, Neyveli Lignite Corporation1975 and Hindalco Industries 1998. Of the four parameters set by Forbes, IOC leads in sales ($25.26 billion), SBI in assets ($104.80 billion) and ONGC in profits ($2.20 billion) and market value ($23.26 billion). The top ten global companies are Citigroup, General Electric, American Intl Group, Exxonmobil, BP, Bank of America, HSBC group, Toyota Motor, Fennie Mae and Wal-Mart Stores. — PTI

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