WEDNESDAY, 27 MARCH 2024

136 pages in 2 sections www.business-standard.com

MUMBAI
~13.00
VOLUME XXVIII NUMBER 191

THE MARKETS ON TUESDAY chg#

Sensex 72,470.3  361.6

Nifty 22,004.7  92.1
Nifty Futures*
Dollar
Euro
22,260.6
~83.3
~90.4
p 255.9
~83.4 **
~90.2 **
MINISTRIES TEST ALL ROADS LEAD TO
Brent crude ($/bbl)
Gold (10 gm)###
85.9##
~66,449.0 p
*(January) Premium on Nifty Spot; **Previous close;
85.9**
~446.0 THE AI WATERS BS@50 SUMMIT
# Over previous close; ## At 9 pm IST;
### Market rate exclusive of VAT; Source: IBJA P U B L I S H E D S I MU L T A N E OU SL Y F RO M AHM ED AB AD , BE NGA LU RU, BH OPAL , BH UB ANESW AR, CHAND I G ARH , CH ENNAI , HY D E R A B AD , K OC HI , K OL K AT A, L U C K N O W , MU M BA I , N E W D E L H I AN D P U N E
2 COMMERCIAL
>.
MUMBAI | WEDNESDAY, 27 MARCH 2024 1

SMFG India Home Finance Company Ltd.

(Formerly Fullerton India Home Finance Co. Ltd.)
Corporate Off. : 503 & 504, 5th Floor, G-Block, Insipre BKC, BKC Main Road, Bandra Kurla Complex, Bandra (E), Mumbai - 400051.
Regd. Off. : Megh Towers, 3rd Floor, Old No. 307, New No. 165, Poonamallee High Road Maduravoyal, Chennai - 600 095.
SALE OF IMMOVABLE PROPERTY UNDER PRIVATE TREATY
Sale Notice for sale of immovable property in exercise of the powers under the SARFAESI Act, 2002 and pursuant to
the possession taken by the Authorised Officer under the said Act and Rules for recovery of the secured debts. We
have received the offer of Rs. 5,24,36,000/- (Rupees Five Crore Twenty Four Lakhs Thirty Six Thousand Only) to
purchase the said property under private treaty sale. Therefore, the Authorised Officer has decided to sell the secured
asset described herein under the private treaty.
Notice is hereby given to the public in general and in particular to the Borrower(s), Co Borrower(s) and Guarantors that
the under mentioned property mortgaged in favour of SMFG India Home Finance Co. Ltd. (formerly known as Fullerton
India Home Finance Co. Ltd.) will be sold on “As is where is ”, “As is what is”, and “Whatever there is ” condition, by
way of “Private Treaty” for recovery of dues in terms of the provisions of SARFAESI Act read with Rules 8 (5) (d) & 9 of
the Security Interest (Enforcement) Rules 2002 and in this regard reference may also be had to order dated 19.3.2024
in Notice of Motion L N31506, in Insolvency petition No. 10/2023 pending before the Hon’ble Bombay High Court. The
undersigned Authorised Officer has decided to sell the secured asset described herein to the Proposed Buyers for an
amount of Rs. 5,24,36,000/- (Rupees Five Crore Twenty-Four Lakhs Thirty-Six Thousand Only) under Private Treaty
sale as per the relevant provisions of the SARFAESI Act, 2002 and the Proposed Buyers will deposit the said offer amount
within 30 days from the date of publication. If the Proposed Buyers fails to deposit the said offer amount within 30 days
from the date of publication then we will proceed as per the relevant provisions of the SARFAESI Act, 2002.
Sl. Name and Address of the Borrower, Co Borrower and
Details of the Secured Asset
No. Guarantor and Loan Account No.
1. Mr. Rahul V. Aggarwal (Borrower), Flat No.901, adm 1135.9 Sq. feet carpet area along with open car
2. Mrs. Sunita Rahul Aggarwal (Co Borrower) parking space no.23 & stilt Car Parking Space No.12 & Flat No.
BNGL No. 70, Bharat Tirth CHS, Ltd., 409/410, Lalwadi, 902 adm. 732 Sq. Feet alongwith open Car Parking Space No.22
V.N. Purva Marg, Chembur, Mumbai - 400071 both Flats on the 9th Floor, in the Building known “Le Jardin”
1.
3. Vidhi Enterprise (Co Borrower) constructed on piece and parcel of Land bearing CTS No. 619,
Swami Apartment, F/45, F-23, Charni Gaon, R.C. Marg, CTS No. 619/1 and CTS. No.619/4 (Old CTS. No. 613 (part) of
Chembur, Mumbai – 400071 village Sion and CTS No.69/3 of village Borla in the Registration
Loan No. 606407210286670 & 606407210327053 District and Sub District Mumbai Suburban.
Sd/-
Place : Mumbai, Maharashtra Authorized Officer, SMFG INDIA HOME FINANCE COMPANY LIMITED
Date : 27.03.2024 (Formerly known as Fullerton India Home Finance Co. Ltd)
WEDNESDAY, 27 MARCH 2024
136 pages in 2 sections www.business-standard.com
MUMBAI
~13.00
VOLUME XXVIII NUMBER 191

THE MARKETS ON TUESDAY chg#

Sensex 72,470.3  361.6

Nifty 22,004.7  92.1
Nifty Futures* 22,260.6 p 255.9
TAKE TWO P15 WORLD P8
Dollar
Euro
Brent crude ($/bbl)
~83.3
~90.4
85.6##
~83.4 **
~90.2 **
85.9**
INDIA’S CLEAN-ENERGY AMBITIONS TRUMP AMONG RICHEST 500 IN
Gold (10 gm)### ~66,449.0 p
*(January) Premium on Nifty Spot; **Previous close;
# Over previous close; ## At 9 pm IST;
~446.0
MAY DERAIL ITS FISCAL FUEL ENGINE THE WORLD AFTER SPAC DEAL
### Market rate exclusive of VAT; Source: IBJA P U B L I S H E D S I MU L T A N E OU SL Y F RO M AHM ED AB AD , BE NGA LU RU, BH OPAL , BH UB ANES W AR, CHAND I G ARH , CH ENNAI , HY D E R A B AD , K OC HI , K OL K AT A, L U C K N O W , MU M BA I , N E W D E L H I AN D P U N E

CAD EASED TO 1.2%

OF GDP AT $10.5 BN
IN OCT-DEC: RBI
Ministries test
the AI waters
The current account deficit
(CAD) narrowed sequentially
to $10.5 billion in the
quarter ended December
2023 (Q3 FY24) — 1.2 per cent
IMAGING: AJAY MOHANTY
of gross domestic product
(GDP) — from $11.4 billion in Q2 Try out use cases in a bid
FY24 (1.3 per cent of GDP). The deficit was
also down from $16.8 billion or 2 per cent of to reduce workload
GDP in the year-ago period (Q3 FY23). The
Reserve Bank of India (RBI) data showed
that the rise in net services receipts more
than compensated for a slight rise in
RUCHIKA CHITRAVANSHI & ASHUTOSH MISHRA
New Delhi, 26 March
All roads lead to
A
merchandise trade deficit in Q3 FY24. 4> s the world advances towards the

ECONOMY AND PUBLIC AFFAIRS P4

S&P raises India’s FY25
growth forecast to 6.8%
S&P Global Ratings on Tuesday raised
India’s FY25 growth forecast by 40 basis
points to 6.8 per cent, but also stressed that
a lower fiscal deficit would dampen
economic growth. The agency said it
expected the growth rate in FY25 to
moderate from the better than expected
7.6 per cent in FY24.
Indian crew on ship that
crashed into US bridge
The entire 22-member crew of the cargo
ship that struck a major bridge in Baltimore
on Tuesday, causing it to plunge into the
river below, are Indians, the company said.
The Singapore-flagged container ship
“Dali” collided with one of the pillars of the
Francis Scott Key Bridge in Baltimore.
COMPANIES P2
Adani to acquire 95% in
Gopalpur Port for ~3K cr
Adani Ports and Special Economic Zone said
on Tuesday it would buy a 95 per cent stake
in Odisha’s Gopalpur Port for an equity
value of ~3,080 crore. Adani Ports will
purchase a 56 per cent stake in Gopalpur
Port from Shapoorji Pallonji Group and a 39
per cent stake from Orissa Stevedores.
TO OUR
READERS
The 118-page
BS 1000 magazine is
being distributed
with today’s edition
SYNTHETIC
TRANSITIONS
n The Coal Logistics Plan and Policy
will entail building AI-powered
dedicated logistics platform
for the fossil fuel
n Department of Telecom has taken
initiatives to use AI and facial
recognition tech to identify
fraudulent mobile connections
n Corporate affairs ministry is looking
to build systems using AI for flagging
non-compliance, as well as raising
alarm and issuing notices to
errant companies
n Agri ministry has developed
‘Kisan e-Mitra’ — an AI-powered
chatbot for addressing farmers’
queries about PM-KISAN
8>
Investors open wallets for
equity MFs in choppy mkts
ABHISHEK KUMAR
Mumbai, 26 March
Equity mutual fund (MF) schemes have equity schemes
raked in ~46,200 crore in net lump-sum
inflows in the past six months (ended
February 2024), almost thrice the inflow
in the previous six-month period.
In February alone, investors poured
~11,500 crore through the lump-sum
route, the highest since March 2022,
according to data from the Association
of Mutual Funds in India.
MF executives say that investors
are taking advantage of choppy market
conditions to deploy additional money
into equities.
“Lump-sum inflows are typically dis-
cretionary, and investors often choose
to deploy them during market
*exclude NFO collections
corrections. This approach is logical and
distinct from systematic investment
plans (SIPs), which involve a commit- PAGE 10
ment to invest from future cash flows
rather than an existing kitty,” said NEAR ~1 TRILLION
Neelesh Surana, chief investment
officer at Mirae Asset Investment
Managers (India). Turn to Page 6 > WINNING RUN
next stage of evolution with arti-
ficial intelligence (AI), the gov-
ernment has started taking steps
to prepare for the future.
BS@50 summit
Sources in the government and industry Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal
have said that various ministries are trying
and Railways, Communications & IT Minister Ashwini Vaishnaw among those
out use cases for AI in their departments to
test the waters. who will discuss India’s developed-nation road map, starting today
“A case study is being carried out
across ministries by a dedicated wing con- BS REPORTER will have Union Finance Minister Commerce Minister Piyush Goyal
sisting of experts to figure out AI use cases
under the AI mission,” a senior government
New Delhi, 26 March Nirmala Sitharaman delivering a
keynote address on the theme, “A
discussing the opportunities and
challenges for the country that is
official said.
The idea is to improve the processes to
As India turns 100 — 23 years from
now — it intends to mark the
Developed India by 2047: The
Roadmap”, at 3 pm. During a
poised for a bigger role on the
global stage. Later in the day, G20
make them faster and user-friendly as well milestone as a developed country. fireside chat after her address, Sherpa and former NITI Aayog
as ease the workload of the government. Leading personalities from the Sitharaman will delve into the CEO Amitabh Kant will share his
For instance, in order to transport coal government, policy- question of how vision of the journey to 2047.
seamlessly across the country, the Union making, economy India can achieve The day will also include
Ministry of Coal recently drafted a logistics and India Inc will this ambition. conversations with Maruti Suzuki
plan and policy in consultation with all discuss the road map A conversation Chairman R C Bhargava on the
stakeholders in the supply chain. That will to that milestone at with Union ongoing debate around
entail building an AI-powered dedicated the inaugural Railways, manufacturing and services, the
logistics platform, which would integrate edition of the annual Communications & question being: Which one should
all the existing central and state-level coal Business Standard summit, IT Minister Ashwini Vaishnaw take precedence? How Indian
transport-tracking systems. “The logistics Business Manthan, which kicks will follow at 4.30 pm with the startups can propel the country’s
platform will be powered with AI and off on Wednesday, at Bharat focus on India’s digital backbone – growth and development agenda
machine learning (ML) tools. This will help Mandapam, New Delhi. telecom and information is the question Info Edge Founder
us build data sets for planning. Based on The two-day, high-profile technology. Sanjeev Bikhchandani, seen as the
the learning, coal supply can be better man- event, which marks 50 years of March 28, the second day of the father of Indian startups,
aged in coming years,” said an official. Business Standard’s publication, summit, will begin with Union will explore. Turn to Page 6 >
Similarly, the telecom ministry is mak-
ing efforts to curb spams through AI.
Turn to Page 6 >
RUSH FOR EQUITY
Net monthly inflows into active
(~ cr)
Source: Amfi
SPONSOR MF CONTRIBUTIONS
SENSEX, NIFTY SNAP 3-DAY

94 new Indian entrants to Hurun rich list

DEV CHATTERJEE
Mumbai, 26 March INDIA'S WEALTHIEST
The global billionaires list witnessed as many as
94 new entrants from India, stated a report by
Hurun India on Tuesday. Following a net addition
of 84, the country’s billionaire tally touched 271
with their combined wealth at
$1 trillion, noted the report.
Mukesh Ambani, chairman & managing
director of Reliance Industries, is the only Indian
to make it into the top 10 of the Hurun Global Rich Name MUKESH GAUTAM SHIV CYRUS DILIP
List 2024, a ranking of billionaires in US dollar AMBANI ADANI NADAR POONAWALLA SHANGHVI
terms. Despite a 40 per cent increase in his wealth & FAMILY & FAMILY & FAMILY & FAMILY & FAMILY
to $115 billion, Ambani, 66, dropped one rank to
Main firm/ Reliance Adani HCL Serum Institute Sun Pharma
10th place on the global list. Hurun Global Rich
group Industries group of India
List’s wealth calculations are a snapshot for the
year ended January 15, 2024. It is the 13th edition Global rank 10 15 34 55 61
of the ranking. Wealth ($ bn) 115 86 37 25 24
Gautam Adani, chairman of the Adani group, % Y-o-Y chg 40 62 42 -7 41
is the next Indian on the global rich list, ranking
15th. Adani, 61, has a net worth of $86 billion, a
figure that includes a $33 billion increase in VIS À VIS CHINA, US MUMBAI: ASIA’S
wealth following a sharp recovery in his China US India BILLIONAIRE CAPITAL
companies’ shares in 2023. Thanks to a booming nBillionaires Y-o-Y chg
stock market, India witnessed a “super strong Billionaires 814 800 271
14 10 26 -18 -16
year”, with the country adding the most new
entrants to the billionaire list, after the US (132). New entrants 55 132 94
China added only 55 new faces. “Confidence in Billionaires in top 100 15 40 5 119 97 92 91 87
the (Indian) economy grew to record levels.
Mumbai overtook Beijing to become Asia’s Women billionaires 178 113 19 New York Mumbai Shanghai
London Beijing
billionaire capital and (one of the) top three cities % of self-made billionaires 90 71 54
globally,” said Hurun Report Chairman and Chief
1 2 3 4 5
Researcher Rupert Hoogewerf. Turn to Page 6 > Source: Hurun Global Rich List 2024 Rank
2 COMPANIES MUMBAI | WEDNESDAY, 27 MARCH 2024

STOCKS > Medplus Health Services

690 Optival Health Solutions
> RateGain Travel
780 Partners with Summerwind
> Rail Vikas Nigam
265
Inks pact with AAI
> Sundaram Clayton
1,358
1,365
Board declares interim
> Som Distilleries and Breweries
276.9
285
Plans to start trial runs on
IN THE NEWS 688.6 771 260.5
685 receives temporary GSA to aid more than 20 255 worth ₹229 cr to
675.1 760 1,330 dividend of ~5.15 270 March 30 of new project in
1,270.7 271.8
suspension order 736.3 740
international carriers 249.8 245
construct a subway 1,295 per share for FY24 255 Hassan
680
684.0 242.8
675
~684.0 CLOSE 764.7 720 ~771.0 CLOSE 244.3 235 ~260.5 CLOSE 1,350.1 1,260 ~1,350.1 CLOSE 240 ~276.9 CLOSE
Mar 2024 Mar Mar Mar 2024 Mar Mar Mar 2024 Mar Mar Mar 2024 Mar Mar
Mar 2024 Mar Mar 0.7% DOWN* p0.8% UP* 0.6% DOWN* p1.9% UP*
18 22 26 18 22 26 18 22 26 p4.3% UP* 18 22 26 18 22 26
*OVER PREVIOUS CLOSE

>

L&T board okays

proposal to raise
Adani picks up 95% in Zee should cut
up to ~7,500 crore Gopalpur Port for ~3K cr costs in profit
AMRITHA PILLAY
Mumbai, 26 March
ny’s Annual Report, it issued
and allotted on a private-place-
DHRUVAKSH SAHA & PTI
New Delhi, 26 March ITS (GOPALPUR PORT)
debt, which has been reported
to be around ~20,000 crore.
pursuit: Panel
ment basis unsecured, rated, LOCATION WILL GIVE US The equity value of the

I
Engineering conglomerate listed, redeemable non-con- ndia’s largest port operator transaction is ~1,420 crore. REUTERS
Larsen & Toubro (L&T) on vertible debentures worth Adani Ports and Special
UNPRECEDENTED ACCESS TO THE In FY24, GPL is estimated Bengaluru, 26 March
Tuesday said the company’s ~2,000 crore. L&T also proposed Economic Zone (APSEZ) MINING HUBS OF ODISHA AND to handle about 11.3 million
board had approved a propos- to raise long-term debt in FY24 has expanded its presence on NEIGHBOURING STATES AND ALLOW tonne cargo (up 52 per cent Y- A new company-formed
al to raise ~7,500 crore. to refinance almost ~4,500 India’s coastline after buying o-Y) and earn a revenue of ~520 review panel by Zee
This will be in the form of crore of maturing debt and to 95 per cent in Odisha’s US TO EXPAND OUR HINTERLAND crore (up 39 per cent) and Entertainment stated the firm
external commercial fund its proposed Gopalpur Port Ltd (GPL) at an LOGISTICS FOOTPRINT” achieve earnings before inter- should substantially reduce
borrowing, term capital expenditure. enterprise value of ~3,080 crore. est, taxes, depreciation, and losses in its businesses, includ-
loans, non-convert- Firm would L&T’s group borrow- “Its (Gopalpur Port) loca-
Karan Adani amortisation of ~232 cr (up 65 ing its English TV channels,
ible debentures, etc. raise funds ing as of March 2023 tion will allow us unprece- CEO, Adani Ports & SEZ per cent). and cut costs in other areas to
The company’s through was at ~1.18 trillion dented access to the mining “In our view, the Gopalpur meet a key profit target, the
board also approved term loans, compared to ~1.23 tril- hubs of Odisha and neighbour- 56 per cent from the Shapoorji a diversified construction and Port is all set for strong growth broadcaster said on Tuesday.
appointing MSKA & other forms lion the year before. ing states and allow us to Pallonji (SP) Group and 39 per infrastructure, real estate and and margin expansion in FY25 The move — coming on the
Associates statutory
auditors for five years,
The group’s gross
debt-to-equity ratio
expand our hinterland logistics
footprint. GPL will add to the
cent from Odisha Stevedores
Ltd, which will continue as the
energy conglomerate. It had
earlier divested its Dharamtar
with opportunities already
identified for achieving higher
heels of a failed $10 billion
merger with Sony India and KEY FINDINGS
subject to approval from share- as of December was 1.23. Adani group’s pan-India port JV partner post the acquisition. Port in Maharashtra to JSW operational efficiencies and the collapse of a $1.4 billion n The committee has
holders. L&T said its current At the end of FY23, L&T network, significantly enhance The deal is expected to be Infrastructure for an enterprise infra debottlenecking,” cricket broadcasting deal over identified five businesses
statutory auditors, Deloitte was a debt-free company at a overall cargo volume, and completed in the first quarter value of ~710 crore. APSEZ said. a missed payment — is aimed where losses need to be
Haskins and Sells LLP, would standalone level, after consid- strengthen APSEZ’s integrated of 2024-25 (FY25). In addition “These divestments are key at helping the loss-making substantially reduced
complete its tenure next year. ering cash and cash equiv- logistics approach,” said Karan to the enterprise value of ~3,080 milestones in our road map to Strategic significance company hit key performance
Debt-based fundraising has alents during the year, the Adani, chief executive officer, crore, there is a contingent con- reduce group debt and set the The presence of large crude targets, Zee said. That includes n These include Zee's English
been L&T’s usual course. In company said in its last Adani Ports & Special sideration of ~270 crore esti- stage for growth, taking advan- steel plants in the eastern hin- a 20 per cent earnings before television channels, the
FY23, according to the compa- Annual Report. Economic Zone Ltd. The Adani mated to be payable after 5.5 tage of the macro trends for terland will fuel coking coal interest, taxes, depreciation, Hindi channel Zindagi and
group company, which already years, taking the total to demand in our core businesses, and limestone imports, while and amortisation (Ebitda) communication technology-
owns ports like Dhamra and ~3,350 crore. both in India and overseas,” the potential to tap thermal margin target proposed by maker Margo Networks
Gangavaram on the eastern The sale of GPL is the sec- said a SP group spokesperson. coastal coal movements in chief executive officer (CEO)
IN BRIEF coast, will acquire the stake in ond port divestment in the past The SP group has been looking Gopalpur’s hinterland presents Punit Goenka, Zee said. Its n Panel has also advised
halving the costs at Zee’s
brownfield GPL by purchasing few months from the SP group, at several ways to reduce its an upside potential. margin was 10.2 per cent in the
December quarter. technology and innovation
DGCA defers June 1 deadline Zee’s business has strug-
gled over the years, with adver-
centre in FY25

for new pilot rest norms

The Directorate General of Civil
Aviation (DGCA) on Tuesday
deferred the June 1 deadline for
written a letter to the regulator
Wipro-GE JV to invest FUNDING CORNER
tising revenue falling to
$488 million for in 2022-23
(FY23) from around $600 mil-
Margo Networks, where losses
need to be substantially
asking it to defer the June 1
deadline by one year as about
~8K cr to ‘Make in Avanse raises ~1K cr lion five years earlier. Cash
reserves also dropped about 25
reduced, Zee said. Margo
Networks lost ~117 crore in the

implementing the new pilot
rest norms. The flight duty time
limitation, or FDTL, norms
guaranteed sufficient rest for
pilots, minimising the risk of
untoward incidents. The new
FDTL norms, issued in January,
increased pilot rest time. The
regulator on Tuesday said
airlines can continue to comply
with the old FDTL norms, issued
in 2019, “till approval of their
respective scheme in
compliance with this CAR (civil
aviation requirement)”. Last
month, the Federation of
Indian Airlines — which
comprises IndiGo, Air India,
Vistara, and SpiceJet — had
25 per cent more pilots would
be needed to implement the
new norms. The airlines had
said that they wouldn’t be able
to hire and train these many
pilots by June 1, forcing them to
cancel 15-20 per cent of their
flights. On March 15, the
regulator had refused to extend
the June 1 deadline. The new
norms increased weekly rest
periods for flight crew to 48
hours a week from the earlier
36 hours. The definition of
‘night’ was also tweaked. It
earlier meant the time
between midnight and 5 am.
But this was increased
till 6 am. DEEPAK PATEL
India for the World’
SURAJEET DAS GUPTA
New Delhi, 26 March
Wipro GE Healthcare, a leading medi-
cal technology, diagnostics, and digital
solutions joint venture between Wipro
and GE Healthcare, aims to increase
localisation in manufacturing in the
country from 50 per cent currently to
70–80 per cent.
This initiative comes alongside an
THE BIG PICTURE
led by Mubadala
per cent in that period. year ended March 31, 2023. Zee
The committee — compris- did not provide details on the
Avanse Financial
Services, an education-
ing company chairman
R Gopalan and audit commit-
tee chairman Prakash Agarwal
performance of the other busi-
nesses or respond to requests
for comment. The committee
announcement made on Tuesday focused non-banking — has identified five busi- has also advised halving the
regarding a fresh investment of financial company nesses, including its English costs at Zee’s technology and
~8,000 crore in the next five years to (NBFC), on Tuesday television channels, the Hindi innovation centre in FY25,
bolster its focus not only on ‘Make in announced that it has channel Zindagi and commu- from ~600 crore a year back,
India’ but also on ‘Make in India for raised primary capital of nication technology-maker Zee said.
the World’. ~1,000 crore to fund business
The products slated for export growth. This round of funding was led by
include positron emission tomography- Mubadala Investment Company
computed tomography (PET-CT) used
for cancer diagnosis, CT, and magnetic
resonance imaging (MRI) coils.
(Mubadala), the Abu Dhabi-based
investment company, with participation
from Avendus PE Investment Advisors
SpiceJet to own 13
In an interview with Elie Chaillot,
president and chief executive officer of
GE Healthcare International, “‘Made
Private Ltd via its fund Avendus Future
Leaders Fund II, the NBFC said in a
statement. This infusion will help Avanse
planes after ~755 cr
in India for the World’ emerges as our strengthen its position in the rapidly

YouTube removed 2.25 mn

n Company plans to increase
localisation from 50% to
new focus, with an aim to deepen our
supply chain. Across our product
range, the average localisation stands
evolving education financing segment.PTI
EDC settlement
up to 80%
videos in Oct-Dec ’23 period n 15 countries identified for
at 50 per cent, and we aspire to incre-
mentally increase this figure by 10–15
Ambit Finvest receives DEEPAK PATEL
New Delhi, 26 March
TAKING OFF
YouTube on Tuesday said it had removed 2.25 million user-
generated videos in India between October and December 2023 for
exports where regulatory
clearances are being sought
per cent annually until reaching 70–
80 per cent.” Elaborating on the local-
~690 cr from investors SpiceJet on Tuesday said it
SpiceJet intraday
price (in ~)
violating its community guidelines. Globally, the company removed n These include Southeast Asia, isation drive, Chaillot notes that India Non-bank lender Ambit Finvest on had signed an agreement with 64
9 million videos in the same period. As many as 96 per cent of the Eastern Europe, EU, and is as competitive as China in terms of Tuesday said it has raised ~690 crore from aircraft lessor Export
videos were first flagged by machines rather than humans, Latin America labour costs. However, importing com- a Japanese securities group and other Development Canada (EDC) 61.1
according to YouTube’s Community Guidelines Enforcement Report. ponents from China to India could existing investors. Japan-based Daiwa to settle liabilities worth 62
As many as 53.46 per cent of the videos were removed before they n Firm is also working on AI to prove more expensive, hence the pref- Securities Group, which has been a ~755 crore. 3.9
received a single view and 27.07 per cent got between one and 10 reduce cost of MRI machines erence for procuring locally in India. partner for Ambit Group in other busin- This pact will allow the air- % chg 60
views. The volume of videos flagged by machines has surged n It is targeting to double Chaillot emphasises India’s existing esses, will get a minority stake for its line to take ownership of 13 of
compared to those marked out by users, government agencies exports from domestic market scale, a factor enabling such high levels ~415 crore investment. The remaining the 15 Bombardier Q400 air- 58.8
and organisations. SHIVANI SHINDE of localisation. This level of localisation ~275 crore has been raised from existing craft financed by EDC. 58
is not feasible in many other countries shareholders, including the parent, the “This settlement marks
due to limitations in scale or ecosystem statement said. The firm engages in the biggest breakthrough in
56
Vijaypat Singhania rules out Elie Challiot,
— exceptions being China, possibly the
US, and Japan. “The Indian market is
providing business loans and used
vehicle loans, to micro small and
SpiceJet’s financial restruc-
turing efforts to date,” Mar 22,’24 Mar 26,’24

reconciliation with son President

and CEO, GE
expanding. Despite Japan having a
population of 120 million compared to
medium-sized enterprises. PTI it stated.
SpiceJet has been facing a
Compiled by BS Research Bureau
Source: Bloomberg
Raymond patriarch Vijaypat Singhania on Tuesday ruled out Healthcare India’s 1.4 billion, our addressable mar- cash crunch for the past few
reconciliation with his estranged son Gautam Singhania, whose
social media post of a photo of them sparked speculations of
International ket in Japan matches that of India.
Hence, India holds the potential for ten-
Tata Steel accepts bids quarters. It is also dealing
with multiple court cases
“These settlements with
the key aircraft lessors have
resolving their differences. In a video message, Vijaypat Singhania
said he had “reluctantly” gone to meet his son Gautam who
fold growth, positioning it as a global
hub-maker,” says Chaillot. Wipro GE
for 3-year bonds regarding money owed to
former owner Kalanithi
also resulted in savings of
~685 crore for the airline,” the
insisted he meet over a cup of coffee without “realising it was for an Healthcare has identified over 15 coun- Tata Steel has accepted bids worth Maran, financial services firm carrier added.
ulterior motive for taking my photograph, with GHS (Gautam Hari tries for exporting its machines man- ~2,700 crore ($323.99 million) for the sale Credit Suisse, aircraft lessors The airline said its 12 Q400
Singhania) to send a wrong message to the media”. Gautam ufactured in India. These include of bonds maturing in three years, two and engine lessors. planes are currently
Singhnia’s post on X had the caption: Happy to have my father at Southeast Asia, experiencing single- merchant bankers said on Tuesday. The In the last two months, the grounded, and this settlement
home today and seek his blessings. Wishing you good health digit growth, Eastern Europe, necessi- company will pay a coupon of 7.79 per airline has settled matters will allow it to bring them
Papa always. PTI tating products with similar technology cent on this bond issue, for which it had with three aircraft lessors — back into service. The settle-
locally manufactured, the European invited coupon and commitment bids Echelon Ireland Madison ment with EDC will enable
Union replacement market, and the from bankers and investors earlier in One, Cross Ocean Partners the airline to save ~567 crore,
AWS, Nilekani's EkStep partner entire Latin American market. the day. REUTERS and Celestial Aviation. it added.

for innovation in digital infra

‘India should have world-class education ecosystem’
Amazon Web Services (AWS) on Tuesday said it has
collaborated with Nandan Nilekani’s EkStep
Foundation to set up a joint innovation centre (JIC)
to foster digital solutions for public service
delivery. “The JIC will promote collaboration Mahindra Group Chairman ANAND MAHINDRA and his family have pledged So, Vineet suggested we should simple: to establish a top-class projects you have started at MU.
among stakeholders to develop digital public ~550 crore over the next five years for Mahindra University (MU) and the Indira start there. university with multiple schools One of the initial projects we
goods and digital public infrastructures for sectors Mahindra School of Education in Hyderabad. MU was established in 2020. In a And so we began with one that are all symbols of excellence in embarked on was establishing a
such as education, agriculture, finance, telephonic conversation with Sohini Das, Mahindra outlines his vision for MU in college called the Mahindra École their respective areas. school of education named after my
healthcare, and climate change, and help the long run. Edited excerpts: Centrale, the College of Recently, I have spoken about mother, Indira Mahindra — the
accelerate societal transformation,” a Engineering. The École the soft power that America Indira Mahindra School of
statement said. PTI What is your long-term vision a university. Centrale is the French possesses, much of which comes Education — in honour of her
for MU? It has long been our aspiration to equivalent of the from its universities that attract dedication to teaching. Despite her
I want to credit a gentleman named establish world-class universities Indian Institute of people from around the world. humble beginnings, she rose to
‘India needs to double down Vineet Nayar, who served as the
vice-chairman of Tech
here, attracting people from around
the world, rather than
Technology.
Our endeavour
The vision is for India to have
one of the best and most
become a professor of history at
Isabella Thoburn College
on electronics manufacturing’ Mahindra during my
tenure as chairman. He’s
Indians having to go
overseas. However, my
has been strongly
supported and
thriving educational
ecosystems globally, validated by
in Lucknow.
She often emphasised the
India has slowed down on the manufacturing front and needs to since retired. He is a concern has always encouraged by the people across the globe eager to importance of focusing on
double down on electronics manufacturing services (EMS)- great educationist been the red tape government. The come here. While it took Oxford developing teachers when
designing, manufacturing, testing components and assemblies for himself, and one day he ANAND MAHINDRA surrounding vision is and the American Ivy League providing scholarships to children.
original equipment manufacturers, Tata Electronics Chairman came to me and said, accreditation for a colleges a century to achieve this, I She believed that without
Chairman,
Banmali Agrawala said. During a conversation with Vinay Ramesh, “Anand, your family is private university. believe it doesn’t need to cultivating a strong repository of
Mahindra Group
COO at the Foundation for Economic Development, Agrawala said always dedicated to the When we took over take that long, but educators in our country, we would
India has gone 'slow' on the manufacturing front and needed to cause of education”. He Satyam, a 130-acre that’s the never achieve excellence in
ensure that the sector, which accounts for 13-15 per cent of added that, given the commitment campus came to us which was broader vision. education. To support this cause,
India's GDP, has a much larger share as it will create we have as a family, we really ought created for training, which seemed we have pledged ~50 crore to the
better-paying jobs. PTI to set up overly large for its limited purpose. Tell us about the School of Education.

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.
MUMBAI | WEDNESDAY, 27 MARCH 2024
CY24 TREND SO FAR
2 unicorns but funding
to startups down 29%
India 4th-largest
recipient of funding
ARYAMAN GUPTA
New Delhi, 26 March
I
ndian startups received $1.6 billion
during January 1 to March 15, 2024,
down 29 per cent compared to the
same period last year, according to a
report by market research firm Tracxn.
Sequentially, funding fell 20 per cent
from $2 billion in the previous quarter.
Investments in India fell after grow-
ing for three straight quarters in 2023.
While late-stage funding dropped
more than 46 per cent, early-stage
funding increased 28 per cent.
Despite the overall downward
trend, India was the fourth-largest
recipient of funding in the period.
The US led the charts, and was fol-
lowed by China, and the United
Kingdom, according to the report.
The inflows minted two Indian
unicorns, which refers to a startup
valued at $1 billion or more, fintech
firm Perfios, and artificial intelligence
company Ola Krutrim.
“Despite the funding slowdown
and economic fluctuations, India’s
tech startup ecosystem is still one of
Daimler India looks to drive in 14 models in 2024
SHINE JACOB
Chennai, 26 March
Driven by a record 39 per cent growth
in domestic business in 2023, Daimler
India Commercial Vehicles (DICV)
has lined up 14 new launches in 2024.
The company expects truck sales
to remain flat this year at around
350,000 units, compared to 351,000
units in 2023. On the other hand, the
bus market is likely to see around
25-30 per cent growth from 41,000
units in 2023 to 50,000-55,000 units
in 2024, said Satyakam Arya, man-
aging director and chief executive
THE SLOWDOWN
Investments in startups
the top-performing tech ecosystems
globally,” said Neha Singh, co-founder,
Tracxn. Singh said that even with the
slowdown seen in this period, govern-
ment initiatives and a large consumer
base were likely to help investments
to quickly bounce back.
officer, DICV.
“We will still continue to grow
very fast. This strong growth will be
seen for the next five to seven years,”
he added.
Following a massive rise in sales
in 2023, the company is coming up
with 14 new products, in rigid (where
the cargo area and the driver’s com-
partment is present on the same
chassis), construction, and mining
categories. DICV’s domestic truck
and bus sales grew by 39 per cent and
revenue grew by 21 per cent over 2022.
Bus volumes too doubled during the
year moving up by 107 per cent.
ILLUSTRATION: BINAY SINHA
Country-wise
funding in Q1 2024
Country
US
Amount ($ bn)
19.5
China 2.8
UK
India
2.5
1.6
Germany 1.4
Note: Q1 2024 data till March 15
Source: Tracxn
Retail top sector
Retail ($494 million), fintech ($429 mil-
lion), and enterprise applications ($448
million) were the highest-funded sec-
tors in Q1 (until March 15). Bengaluru
lead in total funds raised in Q1. It was
followed by Mumbai and Noida.
The German major’s Indian arm
also posted a 13 per cent rise in cumu-
lative sales (domestic and exports)
during the calendar year 2023 (CY23).
Its parts business also grew by 21 per
cent over 2022.
“More than half of the world’s
population will go to elections this
year. The geopolitical environment
continues to be uncertain, global
supply chain issues and impact of AI
on business is also likely to be there
for the industry,” Arya added.
The company, which achieved a
CO2 neutrality of 84 per cent in 2023
in manufacturing, has set a target of
COMPANIES 3 <
Operationally
profitable for two
quarters: Myntra
PEERZADA ABRAR
Bengaluru, 26 March
The firm saw its total expenses
increase 26 per cent from ~4,207
crore in FY22 to ~5,290 crore in
Flipkart-owned fashion platform FY23. This was due to an increase
Myntra has said that it has been in employee benefit expenses and
operationally profitable since last cost of raw materials and due to
year’s December quarter. other reasons.
Citing its growing customer Myntra is part of the Flipkart
base, domestic and international group, which is owned by the US
brand associations and tech-led retailer Walmart. It competes with
innovations, Myntra said on Amazon Fashion, Reliance Ajio,
Tuesday that its marketplace and other online fashion retailers
entity has been to tap the fashion e-
Ebitda (earnings commerce market of
This is the first
before interest, India, which is
taxes, depreciation,
and amortisation)
time that any
Flipkart group
expected to be a
$35 billion by 2028. Tendulkar-backed
company has
positive since the
been Ebitda
“Accomplishing
last quarter of cal-
endar year 2023.
It makes Myntra
positive for two
quarters in a row
this feat while work-
ing in a profitable
manner not only
firm to invest ~5K cr
operationally prof- speaks
itable for two quarters running, about our commitment to solving
something the firm has never the beauty and fashion needs of
volumes
in semicon facility
achieved before. The company, the country but is also a testament PRESS TRUST OF INDIA
however, didn’t reveal any to the success of our customer- New Delhi, 26 March
numbers related to its profitability. first approach, ability to invest in
Myntra reportedly saw its the right growth engines and of RRP Electronics, a company
revenue from operations jump by our financial resilience, which has backed by former cricketer
25 per cent from ~3,501 crore in held us in good stead,” said Sachin Tendulkar, on Tuesday
FY22 to ~4,375 crore in FY23. But Nandita Sinha, chief executive announced an investment of
its losses widened 31 per cent dur- officer, Myntra. The company said ~5,000 crore for a semiconduc-
ing the same period from ~98 that it has been on a strong growth tor facility in Maharashtra.
crore to ~782 crore. This was on trajectory, growing notably faster The investment will be done
the back of higher expenses dur- than the online fashion market over the next five years, the
ing the financial year. since H2 (second half) of CY23. company said in a statement.
Contributions from
Tendulkar in the overall invest-
ment or details of other share- A 25,000 square feet facility in
extending it to 90 per cent in 2024.
holders were not disclosed by
the company.
The statement said on
March 23, a 25,000 square feet
Navi Mumbai was unveiled
in the presence of Sachin
Tendulkar on March 23
In terms of sustainability, another tar- Nissan to launch 3 facility in the satellite city of OSAT and a fab foundry, the
get set by the company is to have 64 Navi Mumbai was unveiled in statement said.
per cent zero emission trucks by 2030 new models by FY26 the presence of Tendulkar, “Embarking on a journey of
and raising it to 100 per cent by 2039. Nissan Motor plans to launch retired nuclear physicist Anil innovation, RRP Electronics
“Our best-ever sales and financial three models in India by the Kakodkar and the company’s pledges an initial investment of
growth, since inception (2012), was financial year 2026 (FY26) and Founder, Chairman, Promoter ~5,000 crore over the forthcom-
spearheaded by excellent demand for make the country a hub for and Chief Executive Officer ing five years, with equal vigour
our tipper and tractor trailer product exports under its new global Rajendra Chodankar. and commitment earmarked
lines, which grew 53 per cent and business plan to drive value and It is an outsourced semicon- for Phase-II,” the statement
79 per cent respectively, compared to strengthen competitiveness, ductor assembly and test said. It added that government
CY22. A slew of strategic initiatives according to a statement. Under (OSAT) facility and plans are subsidies will also be used to
also helped us take informed deci- the new plan, the firm is targeting afoot to establish a comprehen- augment the venture, which
sions on costs, tackle headwinds additional 1 million unit sales sive research and development will serve sectors such as auto-
effectively and sharpen our focus on compared to FY23. PTI centre and have an expanded motive, power, electronics, and
key areas of business,” he added. setup encompassing multi-line industrial markets.
4 ECONOMY & PUBLIC AFFAIRS
>
MUMBAI | WEDNESDAY, 27 MARCH 2024 1

IN BRIEF
CEA: Govt initiatives, growing
investment to create jobs
CAD narrowed to ROAD MAP FOR NEXT DECADE

Labour-intensive
Various initiatives from the government and growing investment
are going to create more job opportunities during the decade,
Chief Economic Advisor (CEA) V Anantha Nageswaran
said on Tuesday. The last decade of the century
was marked by a decline in capital formation
1.2% of GDP in Q3 jobs India’s only
Services exports grew due
option now: ILO
in the economy and moderation in credit
growth, he said at an event in New Delhi.
“Hopefully, those things are a thing of the
to rising software exports,
past. Non-food credit growth is now running
close to 20 per cent, balance sheets of
business, travel services SHIVA RAJORA
companies and banks are in good shape ABHIJIT LELE
A GLIMPSE:
New Delhi, 26 March
n Women largely account
and hiring (is showing improvement)," Mumbai, 26 March
he said. PTI There is “no alternative” for
for the increase in
INDIAN LABOUR self-employment and

T
he current account deficit (CAD) nar-
rowed sequentially to $10.5 billion in
Mistake to believe in ‘hype’ the quarter ended December 2023 (Q3
FY24) — 1.2 per cent of gross domestic prod-
uct (GDP) — from $11.4 billion in Q2 FY24 (1.3
about growth, says Rajan per cent of GDP).
The deficit was also down from
India is making a big mistake believing $16.8 billion or 2 per cent of GDP in the
the “hype” around its strong economic
growth since there are significant
year-ago period (Q3 FY23).
Reserve Bank of India (RBI) data showed
structural problems that need to be fixed
for the country to meet its potential,
that the rise in net services receipts more than
compensated for a slight rise in merchandise
former central bank Governor Raghuram trade deficit in Q3 FY24. This helped cushion
Rajan said. The biggest challenge a new the CAD.
government must grapple with after Services exports grew by 5.2 per cent year-
elections is improving the education and skills on-year (Y-o-Y) on the back of rising exports
of the workforce, Rajan said. of software, business and travel services.
BLOOMBERG “The CAD narrowed in the quarter despite
a wider merchandise trade deficit, cushioned
by a record high services trade surplus and
We support Philippines on secondary income,” Barclays said in the note.
“Positive foreign direct investment (FDI)
issue of sovereignty: EAM and foreign portfolio investment (FPI) flows
kept the balance of payments (BoP) in surplus.
We expect current account financing needs
India firmly supports the Philippines in to remain manageable this financial year and
upholding its national sovereignty and next,” it added.
wants to explore new areas of cooperation, The merchandise trade deficit was at
including in defence and security, External $71.6 billion in Q3 FY24 compared to
Affairs Minister S Jaishankar said on $71.3 billion a year ago.
Tuesday, amid Manila's maritime dispute Net services receipts rose to $45 billion in
with China in the South China Sea. Q3 from $38.7 billion in Q3 of last year, RBI
His remarks came at a joint press said in a statement.
meet with his counterpart Madan Sabnavis, chief economist, Bank of
Enrique Manalo in Manila Baroda, said services exports are doing well
after their meeting. PTI and global commodity prices have softened
Y-o-Y. This has helped reduce the
CAD during the third quarter. The trend is
expected to continue for the current quarter
CPR India Chief Executive (Q4 FY24) also.
Net outgo from the primary income
Yamini Aiyar to step down account, mainly reflecting payments of
investment income, increased to $13.2 billion
The Chief Executive of premier think-tank Centre for Policy in the December 2023 quarter, from $12.7 bil-
Research India, Yamini Aiyar, will step down from her current lion a year ago.
role to devote more time to her research interests, according to Private transfer receipts, representing
a statement issued by the CPR. The development comes months mainly remittances from Indians employed
after CPR's licence was cancelled under the Foreign overseas, amounted to $31.4 billion, an
Contribution (Regulation) Act (FCRA). The statement said increase of 2.1 per cent Y-o-Y, RBI said.
Dr Srinivas Chokkakula, senior fellow, CPR and Ministry of Jal
Shakti Research chair, will take over as the think-tank's
president and chief executive from April 1. PTI
INDIA’S CURRENT ACCOUNT
BALANCE PROFILE
(in $ bn) Q3FY23
Current Account Balance -16.8
Current Account Balance -2%
as % of GDP
Goods -71.3
Services 38.7
Primary income -12.7
Secondary income
Note : - denotes deficit
28.5
As for the BoP position in Q3 FY24, there
was an accretion of $6 billion to the reserves.
This is lower than the $11.1 billion in the year-
ago period.
For April-December 2023, the country's
CAD moderated to 1.2 per cent of GDP, against
2.6 per cent of GDP in the same period of the
previous year, on the back of a lower mer-
chandise trade deficit, RBI said.
Net invisible receipts were higher in the
first nine months of FY24, on account of serv-
ices and transfers.
As for the BoP position in April-December
2023, there was accretion of $32.9 billion,
against depletion of $14.7 billion in the year-
ago period, the RBI said.
According to Radhika Rao, senior econo-
mist, DBS Bank, the FY24 full-year CAD may
narrow to -0.8 per cent of GDP. This compares
to the previous forecast of -1.5 per cent of GDP.
For FY25 current account, the Singapore-
based bank has estimated a slower rise in serv-
ices exports and a wider goods deficit on post-
election pick-up in capital imports, leaving
the CAD at -1.1 per cent of GDP.
India to have growth led by
labour-intensive manufactur- unpaid family work
MARKET
ing at least for the next 10 years
to absorb seven-eight million n Employment in India
n Employment
generation in India has
youths who will join the labour
force annually, a report jointly
prepared by the International
is predominantly
self-employment and
become more and more
capital-intensive, with
Labour Organization (ILO) and
casual employment fewer workers employed
Institute for
Development (IHD) has said.
Human n Transition to non-farm
employment reversed
between 2000 and 2019
than in the 1990s
Using official data, it high-
lighted the increasing uncer-
due to the pandemic, n Digitalisation and
Q3FY24 with a rise in the share of introduction of new
tainties in the labour market
agricultural employment technologies are
-10.5 due to fast-changing technolo-
-1.20% gies, including artificial intel- changing the structure of
ligence (AI). Titled “India industrial employment
Employment Report 2024”
-71.6 and released on Tuesday, it
45 said: “Fast-changing techno-
-13.2 logical advancements, partic-
29.3
Source: RBI
ularly artificial intelligence, are
going to be important disrup-
tive factors in the labour mar-
ket, with positive and negative
consequences. Although on a
good footing, India still needs
to do more to prepare itself for
the challenges posed by new
technologies.”
The report calls for primacy the farm and non-farm sectors ed for training youths in those
to be given to labour-intensive in rural areas. states. India remains poised to
manufacturing employment to The report mentions out- reap a demographic dividend
absorb the abundant unskilled sourcing in India could be dis- for at least another decade due
labour, along with the emerg- rupted because some back- to the youth population
ing employment-generating office tasks would be taken remaining at 23 per cent of the
modern manufacturing and over by AI, but given that India total in 2036 from 27 per cent
services sectors, with a direct has a lot of vibrant startups, in 2021. However, youth
and greater focus on micro, tech developers, and a reason- employment has by and large
small and medium-sized ably good digital infrastruc- remained of poorer quality
enterprises by providing a
more supportive and decen-
ture, it is possible to create jobs.
AI offers immense opportunity
than employment for adults.
In 2022, the unemployment
tralised approach. It also high-
lights investment in the green
to enhance labour productivity
and incomes of even unskilled
rate among youths was six
times that among persons with
(environment-friendly) and and semi-skilled workers, a secondary or higher level of
blue (based on ocean while cautioning that the dis- education (at 18.4 per cent) and
resources) economies, devel- advantaged states are less pre- nine times greater among
oping rural infrastructure, and pared for this, and active poli- graduates (at 29.1 per cent)
establishing an integrated mar- cies and programmes need to than for persons who cannot
ket to revive employment in be formulated and implement- read and write (at 3.4 per cent).

S&P ups FY25 GDP forecast to 6.8% RBI clampdown may

‘Problematic’: US panel raises Rating agency says lower fiscal deficit will dampen India’s growth
concern over CAA notification
The US Commission on International Religious Freedom (USCIRF)
has voiced concern over the Indian government's notification of
RUCHIKA CHITRAVANSHI
New Delhi, 26 March
rules to implement the Citizenship (Amendment) Act (CAA), S&P Global Ratings on
saying no one should be denied citizenship based on religion or Tuesday raised India’s FY25
belief. “The problematic CAA establishes a religious gross domestic product (GDP)
requirement for asylum seekers in India fleeing neighbouring forecast by 40 basis points to
countries,” USCIRF Commissioner Stephen Schneck said in a 6.8 per cent, but stressed that
statement Monday. PTI lower fiscal deficit would
dampen economic growth.
While projecting a GDP
growth rate lower than the
Procurement of 500K tonnes Reserve Bank of India’s esti-
mate of 7 per cent, S&P
of onion to begin in 2-3 days Ratings said it expected
growth in FY25 to moderate
Amid concern over a likely fall in mandi prices in view of an from the better than expected
extension of the onion export ban, the government on Tuesday 7.6 per cent in FY24.
assured farmers that it will start procurement of 500,000 tonnes In a press statement, the
of rabi onion in next 2-3 days to protect their interest. Last week, rating agency said restrictive
the commerce ministry extended the ban on onion export till interest rates were likely to
further orders. The ban on shipments was valid till March 31. PTI weigh on demand next fiscal
year while regulatory actions
to tame unsecured lending
would affect credit growth.
“For Asian emerging mar-
with India, Indonesia, the
Philippines, and Vietnam in
the lead,” S&P said in its
‘Economic Outlook for the
Asia Pacific’ report.
S&P also expects consumer
inflation to decline further to
4.5 per cent on average in fis-
cal year 2025.
The Finance Ministry, in
its latest monthly economic
report, had also said it was
sures aided by the pick-up in
summer sowing that is likely
to help reduce food prices.
For FY26 and FY27, S&P
Global ratings has kept its
growth projections unchanged
at 7 per cent. It said there are
always upward risks around
inflation. “But, barring major
global shocks, we generally
think those risks are now mod-
erate. The upward price pres-
limit loan growth in
insufficient to meaningfully
affect overall inflation.”
In its report titled
FY25, says S&P Global
‘Economic Outlook Asia- ABHIJIT LELE focus on policies and process-
Pacific Q2 2024: APAC Bides Mumbai, 26 March es were expected to ultimately
Its Time On Monetary Policy enhance the operational
Easing’, the ratings agency The Reserve Bank of India’s resilience of the system. But
said that in domestic demand- (RBI’s) push for improving this shift is likely to lead to
led economies such as India, governance and transparency increased compliance costs for
Japan, and Australia, the at finance companies and the sector. This may curb the
impact of high interest rates banks could impede growth ability of smaller companies to
and inflation on household and lead to higher capital costs compete in the market.
spending had reduced
sequential GDP growth in the
for institutions, according to
Standard and Poor’s (S&P)
“In our view, smaller and
weaker companies may need
second half of FY24.
The report said that India
Global Ratings.
The recent regulatory
to increasingly rely more on
originate and distribute mod-
is likely to see rate cuts of up measures included restraining els, leveraging co-lending, and
to 75 basis points in calendar IIFL Finance Ltd and JM direct assignments,” said
year 2024. “In India, slowing Financial Products Ltd from Geeta Chugh, S&P Global cred-
inflation, a smaller fiscal disbursing gold loans and it analyst. Combined with
deficit, and lower US policy loans against shares, respec- tight liquidity, the RBI’s new
rates will lay the ground for tively, and asking Paytm measures are likely to limit
the RBI to start cutting rates. Payments Bank Ltd to stop on- credit growth in 2024-25. “We
But we believe more clarity on boarding of new customers. expect loan growth to decline
the path of disinflation could S&P Global Ratings in a to 14 per cent in FY25 from 16
push this decision at least to statement said the regulatory per cent in FY24, reflecting the

LIC strongest ket (EM) economies, we gen-

erally project robust growth,
expecting a broad-based mod-
eration in inflationary pres-
sure from recent international
shipping problems appears
June 2024, if not later,” the
S&P report said.
actions to drive banks and
finance companies to better
cumulative impact of all these
actions,” the agency said.

insurance brand
globally: Report
AATHIRA VARIER
Mumbai, 26 March
Life Insurance Corporation
of India (LIC) has been
termed the strongest insur-
ance brand with a steady
Key India peers see sharper growth in services trade
ANOUSHKA SAWHNEY services may have plateaued,” the
FLAT SERVICES EXPORTS GOODS EXPORTS DOWN
LIC gets ~39L New Delhi, 26 March report mentioned. A different sto-
ry emerges from the goods trade. Annual growth in services trade (%) n Imports n Exports Annual growth in goods trade (%)
n Imports n Exports
GST demand A number of countries have
recorded faster growth in services
India’s merchandise imports and
exports declined year-on-year by 16 16 16 14
Note: Shows change in service trade between Q3
2022 and Q3 2023. Figures for Russian Federation
are estimates. Republic of Korea -12
notice exports than India.
India’s services exports
increased by 14 per cent between
7 per cent and 6 per cent, respec-
tively. Other economies followed
a similar pattern.
13
Brazil -12
8

brand value of $9.8 billion, a
brand strength index score of
88.3, and an associated AAA
brand strength rating, noted
a report by Brand Finance
Insurance 100 2024.
According to the report,
Cathay Life Insurance is the
second strongest brand, with
a 9 per cent increase in brand
Life Insurance Corporation of
India (LIC) on Tuesday said
tax authorities have slapped
a demand notice of about
~39.39 lakh on it for short
payment of Goods and
Services Tax (GST) for 2017-
18.The company has received
a communication/demand
order for interest and penalty
2
the third quarter of 2022 and Q3 China’s goods exports and
9
of 2023, according to the Global imports declined by 5 per cent European Union -14 2
Trade Update by the United each. 7
Nations Conference on Trade and Only three economies — the 6 6 6 6 -5
United States -2
Development (Unctad) released Republic of Korea, Brazil, and the 5 5 5 5
recently. The growth in imports European Union — recorded an Japan -12
was 5 per cent. increase in merchandise exports -4
Brazil and South Africa among compared to the previous year.
China -5
emerging markets and Japan Except for Russia, all other coun- -8 -16 -21 -5
among advanced ones recorded tries’ goods imports declined.
INDIA -7
Russian Federation
Brazil

The United States

Japan

South Africa

INDIA

European Union

Republic of Korea

China

value to $4.9 billion, followed
by NRMA Insurance, which
saw an 82 per cent rise in
brand value to $1.3 billion.
Meanwhile, Chinese insur-
ance brands maintain domi-
nance in the global rankings
of most valuable insurance
brands, with Ping An leading
with a 4 per cent increase in
brand value to $33.6 billion
followed by China Life
Insurance and CPIC retain-
ing their third and fifth posi-
tions, respectively.
Allianz from Germany
and AXA from France are
from the Additional
Commissioner, Central Goods
& Service Tax, Gandhinagar,
on January 3, 2024, LIC said
in a regulatory filing. PTI
holding on to their second
and fourth positions in the
top 5 rankings.
Apart from NRMA
Insurance from Australia,
another insurance
company seeing significant
growth in brand value is
Denmark’s Tryg, which
saw a 66 per cent rise to $1.6
billion.
higher growth in services exports
at 16 per cent each. Next was
India, followed by the United
States (9 per cent) and European
Union (5 per cent).
China, on the other hand,
recorded a decline of 16 per cent,
while its service imports
increased by 13 per cent (chart 1).
In Q323, India’s service exports
were flat quarter-on-quarter. A
similar trend was seen globally,
suggesting limited growth.
“Quarterly growth in Q3 2023
has been more varied compared
to the annual averages, signaling
that the positive trend in trade in
Their exports declined by 27 per -6
cent because of energy markets, -3
South Africa
according to the report (chart 2). -10
The quarter-on-quarter trend Russian Federation 6
for goods trade was more positive -27
for India. In Q42023, India’s Note: Shows change in merchandise trade between
goods imports increased by 3 per 2022 and 2023. Figures for Russian Federation are
estimates. Source: UNCTAD
cent and exports by 5 per cent.
The global trade outlook
remains uncertain, according to
the report. “Persistent geopoliti-
cal tensions, rising shipping
costs, and high levels of debt
weighing on economic activity in
many countries may still
exert negative influences on
global trade.”
.
MUMBAI | WEDNESDAY, 27 MARCH 2024 5
<
6 >
BATTLEGROUND 2024
Punjab set for a
4-way contest as
BJP-SAD talks fail
ARCHIS MOHAN
New Delhi, 26 March
A
four-way electoral con-
test is in the offing for
Punjab’s 13 Lok Sabha
seats as the Bharatiya Janata
Party (BJP) indicated on
Tuesday that negotiations
with its former ally, the
Shiromani Akali Dal (SAD), for
the revival of their alliance in
the border state, have failed.
Punjab is scheduled for
polling on June 1, marking the
seventh and final phase of the
General Elections.
The alliance could have
been potent with the
Bhagwant Mann-led Aam
Aadmi Party (AAP) govern-
ment facing anti-incumbency.
The Congress is also in disar-
ray. Earlier this month, its
Patiala MP Preneet Kaur joined
the BJP. On Tuesday, its
Ludhiana MP, Ravneet Singh
Bittu, joined the BJP.
According to psephologist
Pramod Kumar, who heads
Chandigarh-based think tank
Institute for Development and
Communication, the break-
down of the seat-sharing talks
between the BJP and SAD has
opened up Punjab’s electoral
fray to the advantage of the
Congress, the principal oppo-
sition party in the state. And it
is welcome news for AAP.
Congress and AAP have agreed
to share seats in Delhi, Gujarat,
and Haryana but will fight
against each other in Punjab.
“An ‘unconditional
alliance’ with the BJP would
have been detrimental for the
Akalis. They would have lost
face in Punjab. Their decision
to go alone will help them in
the long run,” Kumar told
Business Standard. The SAD,
out of power since 2017 and
pushed to number three, has
its eyes fixated on the 2027
Assembly elections.
Widening rift
From 1996 to 2020, the Akalis
subscribed to former Punjab
chief minister Parkash Singh
Badal’s approach of providing
‘unconditional support’ to the
BJP. It lasted until September
2020, when the Akalis exited
the National Democratic
Alliance (NDA) after the farm-
ers’ protests over the Centre’s
three farm bills.
In the multi-cornered con-
test in the March 2022
Assembly polls, the SAD per-
formed poorly, winning only
> FROM PAGE 1
BS Manthan..
Amazon Country Manager
(Consumer Business) Manish
Tiwary will, meanwhile, bring
the MNC view to the country’s
startup ecosystem.
Business Manthan will pro-
vide a new forum to thought
leaders at home and abroad for
deliberating on major econom-
ic, business and strategic policy
options, as also the challenges
that face the Indian economy.
In his speech Wednesday
evening, Martin Wolf, chief
economics commentator,
Financial Times, London, will
discuss the crisis of democratic
capitalism. Rohit Lamba, econ-
omist at the Pennsylvania State
University, will explore ways to
break the mould to reimagine
India’s economic future. And,
Shankar Sharma, founder,
GQuant Investech, will deep-
dive into the potential of the
markets in a developed India.
A road to a developed India
cannot be smooth unless the
China question is assessed and
addressed in the changing
geostrategic
Developed economies have
context.
begun to look at India as a Plus
One option to China. That’s a
tag India would want to shake
off sooner than later.
Shivshankar Menon, former
national security advisor, and
Nalin Surie, former Indian high
commissioner to the UK, will
delve into this vast area in a
conversation with former for-
eign secretary Shyam Saran on
BATTLEGROUND 2024
Ravneet Singh Bittu (right), Congress Lok Sabha MP from
Ludhiana, with BJP chief J P Nadda after joining the party, in
New Delhi on Tuesday. Bittu is a three-term Lok Sabha MP
and the grandson of former Punjab chief minister Beant Singh
JJP to go solo in Haryana, will
contest in all 10 Lok Sabha seats
Days after the BJP-JJP alliance fell apart, the Ajay Chautala-led
party on Tuesday announced that it would contest on its own
all the 10 Lok Sabha seats in Haryana. The decision was taken
at a meeting of the Jannayak Janata Party’s political affairs
committee in Delhi, the party said in a statement.
Inner Manipur seat: BJP drops
Union minister Rajkumar Singh
The BJP on Tuesday nominated Manipur Education Minister
Thounaojam Basantakumar Singh from the Inner Manipur Lok
Sabha seat, dropping sitting MP and Union minister Rajkumar
Ranjan Singh. The contestant is the son of former Union minister
Thounaojam Chaoba Singh. The former IPS officer is at present an
MLA from the Nambol Assembly seat in Bishnupur district.
three of 117 seats, and its ally,
the Bahujan Samaj Party won
one seat. The BJP, which had
an alliance with the
Amarinder Singh-led Punjab
Lok Congress, could win two
seats, while the Congress
emerged as the principal
opposition party.
By 2027, SAD would have
been out of power in Punjab for
a decade, having lost it to the
Congress in 2017 and pushed
to number three in 2022 when
AAP swept the polls.
On Tuesday morning, BJP
state unit chief Sunil Jakhar
posted his video message on
X, stating that the BJP will con-
test alone in Punjab. Jakhar
emphasised Prime Minister
Narendra Modi’s work for
farmers, such as procuring
grains at minimum support
price. He said the Kartarpur
corridor was opened during
the BJP government’s tenure
at the Centre.
‘Principles above politics’
Later, SAD chief Sukhbir Singh
Thursday. Climate, environ-
ment and the concerns around
the planet, which has reached
a tipping point and needs
urgent attention, will have pan-
ellists discussing how India’s
growth can be sustainable
through responsible energy
generation. Among the panel-
lists will be leading figures from
green energy businesses and
environment-focused research
organisations.
How India can ride the AI
wave to become a global pow-
erhouse. The contribution of
sports in catapulting India to
the developed nations’ club by
2047. How luxury, from design-
erwear to hotels, resorts and
retail support, can play a role in
sprucing up India’s image. Why
agriculture needs focused
attention and innovative inter-
ventions. What the startup
environment in a developed
India would look like. These
and many more areas will be
covered at the summit, which
will conclude with a scintillat-
ing conversation between
Arvind Subramanian, former
chief economic advisor, and
Montek Singh Ahluwalia, for-
mer deputy chairman of the
Planning Commission. The two
economists will try to thrash
out the contours of the Centre-
state relations necessary for
India’s successful journey
towards 2047.
AI waters...
In June last year, the Telecom
Regulatory Authority of India
(Trai) directed all operators to
deploy AI- and ML-based detec-
PTI
PTI
Badal said that for his party,
“principles are more impor-
tant than the numbers game”,
unlike some national parties.
On Friday, the SAD had passed
a resolution at its core commit-
tee meeting, which said the
party would “continue to put
principles above politics”. It
urged the Centre to honour its
“categorical written commit-
ment” for the release of Bandi
Singh (Sikh prisoners) who
have served their prison terms
and reiterated its commitment
to fight for the rights of farmers
and farm labourers.
The SAD and BJP have
contested elections together
since 1996. In 2019, the
alliance of the SAD and BJP
won two Lok Sabha seats
each. The Congress won eight
and AAP one seat of the 13. For
the 2024 Lok Sabha polls, the
BJP was renegotiating its
earlier arrangement with the
SAD, demanding that it
should get to contest six seats
instead of the three that it
has traditionally.
tion systems to identify and act
against unregistered spam
callers and message senders.
Under one of the AI-ML sys-
tems, telecom operators have
to share the details of spam-
mers with other carriers using
blockchain technology, and, in
turn, creating a common data-
base, officials said.
The Department
Telecommunications has start-
ed initiatives such as AI- and
facial recognition-powered
Solution for Telecom SIM
Subscriber Verification (ASTR)
to identify fraudulent mobile
connections.
“This is a top-driven exer-
cise. Ministries get to pick a use
case for AI and figure out what
worked and what did not. This
experimentation is really posi-
tive because it is not going to
get done in one big bang, but
will be a learning process,” a
senior industry expert said.
While it is still early days, the
Ministry of Corporate Affairs is
building systems using AI for
flagging non-compliance as
well to raise alarm and issue
notices to errant companies. It
will also use AI and ML to send
reminders about due dates on
compliances. A ministry offi-
cial, however, said this would
not take the “human touch” out
of the process.
The agriculture ministry has
developed “Kisan e-Mitra”, an
AI-powered chatbot
addressing farmers’ queries
about the PM Kisan Samman
Nidhi scheme. The ministry is
working on a model based on
AI and ML to detect crop issues
and developing a National Pest
MUMBAI | WEDNESDAY, 27 MARCH 2024 1
47,968 candidates have contested In the first Lok Sabha, 37
as Independents in the 17 Lok Sabha Independents won. Their
elections from 1951-52 to 2019. number was second only to the
Of them, only 226 have been elected largest party, the Congress
TDP MPs clocked highest average
attendance in 17th LS, AAP lowest
RAGHAV AGGARWAL
New Delhi, 26 March
formance and attendance of the 521 sit-
ting members, ex-members, and the
Anglo-Indian nominated members.
Of all the political parties represented The analysis showed that three
in the Lok Sabha, the Members of MPs from TDP attended 229 sittings
Parliament (MPs) of the Telugu Desam on an average out of the total 273.
Party (TDP) clocked the highest aver- They were Jayadev Galla from Guntur,
age attendance in the 17th Lok Sabha, Kesineni Srinivas from Vijayawada
PHOTO: X VIA @OfficeofJPNadda
according to an analysis by the and Ram Mohan Naidu Kinjarapu
Association for Democratic Reforms from Srikakulam.
(ADR). The lowest average attendance The TDP was followed by the MPs
was that of the Aam Aadmi Party of the Communist Party of India
(AAP) MPs. (Marxist) and Janata Dal (United) with
Notably, the 17th Lok Sabha saw the an average attendance of 226 and 218 PHOTO: PTI
fewest sittings among all full-term Lok
Sabhas to date. Only four previous Lok
sittings respectively.
The CPI(M) has three Lok Sabha MPs
ROLL CALL PARTY-WISE AVERAGE ATTENDANCE
Sabhas have had fewer sittings but these and JD(U) has 16. THE HIGHEST THE LOWEST
were dissolved before completing five- On an average, 559 MPs (including Party Total Average sittings Party Total Average sittings
year terms. those elected to the LS in bypolls) from MPs attended out MPs attended out
It was also the first Lok Sabha where all parties attended 189 sittings. considered of 273 considered of 273
a deputy speaker was not elected. The data also showed that AAP MPs
TDP 3 229 AAP 2 57
Article 93 of the Indian Constitution clocked the lowest average attendance.
says that the Lok Sabha must elect a The two MPs of the party considered CPI(M) 3 226 SAD 2 87
Speaker and a Deputy Speaker “as soon for the survey, Bhagwant Mann from JD(U) 17 218 SP 6 126
as may be”. Sangrur and Sushil Kumar Rinku from BSP 10 212 AITC 24 138
The ADR released the ‘Analysis of
Jalandhar, attended 57 sittings on an Congress 54 206 CPI 2 158
Performance of MPs in the 17th Lok average out of 273 during the 17th Lok
Source: ADR's Analysis of Performance of MPs in the 17th Lok Sabha
Sabha’ on Tuesday based on the per- Sabha.
No. of veterans thinning faster N ALL IN A DAY N
‘Shakti Swaroopa’: PM dials
amid rise in total candidates BJP's Basirhat candidate
SACHIN P MAMPATTA
Mumbai, 26 March FEWER MULTIPLE-CONTEST CANDIDATES IN FRAY Prime Minister Narendra Modi on Tuesday
called up the BJP’s Lok Sabha poll candidate
At 94, Shafiqur Rahman Barq was
Number of multiple contest
candidates (LHS)
Share of multiple contest candidates
among total candidates (%) (RHS)
from Basirhat, Rekha Patra, who had high-
lighted the plight of women in Sandeshkhali,
planning to contest from Sambhal 18.95 and lauded her as “Shakti Swaroopa,” party
Lok Sabha seat when ill health leaders said. Modi spoke to Patra about her
850 7.06
caught up. The five-time MP from campaign preparations, the support for the BJP
the Western Uttar Pradesh con- 881 699 among voters, and other issues. Patra told Modi
656
stituency passed away last month, 569 she feels good that he is standing by them and
and with him, the Parliament lost said, “It is like Ram ji is with us”. PTI
its eldest member.
The ilk of veterans, to which
Barq belonged, is thinning fast with
BJP fields all 6 Cong rebels in
every election. The share of candi-
dates who have contested multiple
Himachal Assembly bypolls
times (more than twice) has fallen 1999 2004 2009 2014 2019 The BJP on Tuesday Lal Markanda quit the
from 19 per cent of total contestants named six party and announced
in 1999, to 7.1 per cent as of the last LOWER WINNABILITY THAN 2004, BUT EDGE REMAINS disqualified he would “definitely”
election, shows a Business Standard Multiple-contest candidates 1st & 2nd time candidates (Share of winners in %) Congress MLAs as its contest the bypolls.
analysis of data from Ashoka candidates for the BJP leader Ranjit
35.6 34.7 28.3 29.2
University’s Trivedi Centre for Himachal Pradesh Singh also said he will
Political Data. It has declined for 23.9 Assembly bypolls, contest as an
four straight general elections. triggering a rebellion Independent. The BJP
Multiple veteran candidates are by party leaders who nominated the six
not contesting going by the candi- 6.1 expected they would former MLAs from the
5.4 4.7 5.1 5.0
date lists announced by the be fielded from these same seats they held as
Bharatiya Janata Party (BJP) and seats. Hours after the Congress members
the Indian National Congress. 1999 2004 2009 2014 2019 BJP announcement, before their
These include the BJP’s Meerut Note: Multiple-contest candidates are those who have been part of more than two contests. former minister Ram disqualification. PTI
member of parliament (MP) Business Standard calculations Source: Trivedi Centre for Political Data (Ashoka University)
Rajendra Agrawal who has served
three terms in office. He made way total number of contestants has share of winners among multiple Varun denied BJP ticket as
for actor Arun Govil who played
Ram in Ramayan in the recently
risen over the years. The total num-
ber of candidates has risen from
contest candidates with the share
of winners among candidates con-
he has Gandhi link: Adhir
announced list of candidates. Third- 4,648 in 1999 to 8,054 in 2019. But testing for the first and second time. Senior Congress leader Adhir Ranjan
time Congress MP Pratibha Singh the number of candidates who have The gap has narrowed since the turn Chowdhury on Tuesday claimed that Varun
from Mandi in Himachal Pradesh already contested more than twice of the millennium. The share of Gandhi was denied a Lok Sabha ticket by the BJP
said that she is not contesting the has fallen from 881 to 569 in the winners among veteran candidates because of his connection with the Gandhi
elections citing a poor situation on same period. was 29.2 per cent in 2019 compared family and extended an invitation to him to join
the ground for re-election. This decline comes despite a per- to 5 per cent for candidates contest- the grand old party. Chowdhury, the leader of
The drop in share also reflects sistent gap in the winnability of ing for the first or second time. It the Congress in the outgoing Lok Sabha, termed
an absolute decline in the number such candidates when compared to was 35.6 per cent for veterans in Varun as a “dabang neta (strong leader)” and
of veteran candidates even as the others. The analysis looked at the 1999 and 6.1 per cent for others. said he is a learned man with a clean image. PTI
Surveillance System. “This ini-
tiative is expected to result in
down over 1 percent on two oth-
er occasions. Hurun... country also witnessed 10
dropouts from the list. Tesla’s
with a total wealth of $231 bil-
lion, followed by Amazon
healthier crops, potentially At the same time, net Mumbai added 26 billionaires Chief Executive Elon Musk, 52, founder Jeff Bezos, 60, with a
boosting yields and improving
farmers’ livelihoods,” the min-
inflows through the SIP route
were comparatively muted.
during the period under con-
sideration, bringing its total to
topped the global billionaire list net worth of $185 billion.
istry had said in a statement. The net SIP inflows stood at 92. New Delhi broke into the
Earlier this month, the
Department of
~38,210 crore in the September
2023–February 2024 period, 22
top 10 for the first time with 57
billionaires. Other cities break-
> BS SUDOKU # 4240
Telecommunications launched per cent higher than the March ing into the Hurun top 30 cities
the Digital Intelligence 2023–August 2023 collection. include Palm Beach, Istanbul,
of Platform, which provides a sin- Net SIP inflows are derived Mexico City, and Melbourne.
gle, unified space for banks, by excluding the outflows from New York has the highest con-
payment wallets, social media SIP accounts from the gross SIP centration of billionaires (119),
platforms and telcos to share inflows. While SIP flows are followed by London (97).
data about suspected fraudu- considered agnostic to market “Surpassing all but the US,
lent connections using AI. conditions, lump sum invest- India’s unprecedented billion-
(With inputs from Shreya Jai, ments are highly correlated aire boom propels Mumbai
Subhayan Chakraborty, and with the prevailing market sen- past Beijing, crowning it as
Sanjeeb Mukherjee) timent. Lump sum inflows, Asia’s billionaire epicentre. Yet,
Investors...
unlike SIPs, are mostly oppor- as we stand on the brink of rev-
tunistic in nature due to the olutions in electric vehicles,
timing involved in such invest- space technology, and AI (arti-
“It is difficult to pinpoint the ments, say industry executives. ficial intelligence), India's start-
reasons as the flows depend on They add that the majority of up ecosystem is just beginning
various factors, given the such flows come from high net- to unveil its potential. The next
diverse investor base. However, worth individuals. decade holds a clear message:
what we have generally seen is “Timing the market is not Overlooking the Indian narra-
that lump sum inflows gain always the right approach but tive is a risk no visionary can
momentum when the market makes sense if deployment afford. The Hurun Global Rich
corrects,” said B Gopkumar, happens when markets are in a List doesn't just track wealth;
managing director and chief reasonable valuation zone, and it signals a pivotal shift in the
executive officer of Axis MF. it is in a staggered manner as global power structure,” said
The equity market has been and when the market falls,” Anas Rahman Junaid, founder
SOLUTION TO #4239
volatile in recent months, with said Surana. and chief researcher, Hurun
the largecap index Nifty mov- “Investors who have overal- India, in a statement. Hard:
ing into a consolidation phase.
The index swung 2.4 per cent
located to smallcaps can also
look to rebalance their portfolio
The Hurun Global Rich List
2024 underscores India’s
««««
Solution tomorrow
last month and registered over to bring it back in line with their ascension as a future economic
a 0.5 per cent decline in three asset allocation framework. We titan, poised to secure its place
sessions. believe that the ideal core funds as the world’s third-largest HOW TO PLAY
The National Stock for the long term now should economy, said the statement. Fill in the grid so that
for Exchange Nifty Smallcap 100 be either ‘multicap’ or ‘large Industries represented by every row, every col-
Index was even more volatile as and midcap’ category,” he Indians on the list include umn and every 3x3
the regulator showed concerns added. The surge in lump sum pharmaceuticals (39 billion- box contains
over the growing valuations in inflows boosted the net inflows aires), automobile and auto
the digits 1 to 9
the small and midcap space. into equity schemes to ~26,860 components (27), and chemi-
The index declined over 4 per- crore in February, the highest cals (24). The average age of
cent on February 12. It was since March 2022. Indian billionaires was 67. The
.
MUMBAI | WEDNESDAY, 27 MARCH 2024 ECONOMY & PUBLIC AFFAIRS 7 <

Short-term rates decline BHARAT HEAVY ELECTRICALS LIMITED

Tiruchirappalli-620014
(A Govt. of India Undertaking)

amid strong VRR demand REGISTRATION OF SUPPLIERS

AND FINALISATION OF TC-MOU
BHEL, Trichy Unit has been entering in to Quarterly Rate Contracts for
purchase of Structural steel (BQ plates, CS Plates, HR Sheets, CR
RBI receives bids worth ~1.52 trillion, against ~1 trillion notified amount Sheets, Structural & TMT bars), with various capable Suppliers, by
way of Techno-commercial MOU (TC-MOU), for meeting entire
ANJALI KUMARI
Mumbai, 26 March
LIQUIDITY TIGHTNESS the first week of April.
Thereby, RBI may continue
requirement of BHEL for the given specification. For broad basing the
RBI net liquidity injected (~ crore) conducting VRR auctions in
competition and bring in inclusivity, BHEL /Trichy invites applications

T
he Reserve Bank of
India (RBI) on Tuesday
received bids worth
~1.52 trillion against a notified
amount of ~1 trillion at the
overnight variable rate repo
(VRR) auction.
The central bank allotted ~1
trillion at a weighted average
rate of 6.73 per cent.
Liquidity deficit in the
banking system widened to
~1.22 trillion on Monday,
according to the latest data by
the RBI. There has been a huge
demand at the VRR auctions
conducted by the RBI amid liq-
uidity fluctuations in the bank-
ing system.
Weighted average money
market rates fell to 6.66 per
cent on Tuesday, against 6.77
per cent on Friday.
The central bank had con-
ducted three VRR auctions on
Friday to ease liquidity tight-
ness in the banking system.
Given the liquidity tight-
ness, weighted average money
market rates had risen above
Source: Bloomberg/RBI
the marginal standing facility
(MSF) rate.
Meanwhile, market partic-
ipants speculate that the liq-
uidity condition may remain in
deficit mode in the near term.
This is because government
borrowings for the financial
year 2024-2025 will begin from
order to keep overnight money
market rates near the repo rate.
The repo rate currently stands
at 6.5 per cent.
RBI Governor Shaktikanta
Das had elaborated on the liq-
uidity conditions in his mone-
tary policy statement, ascrib-
ing them to external factors.
He expects them to rectify in
the foreseeable future, bol-
stered by interventions by the
central bank.
He said the RBI is agile and
adaptable in its liquidity man-
agement, employing both repo
and reverse repo operations.
Das added that the RBI will
utilise a judicious mix of instru-
ments to regulate both short-
term and long-term liquidity.
for registration from suppliers and to finalise open ended TC-MOU for
Supply of Various Steel items (Plates, Sheets, Structural, TMT bars,
etc.). TC-MOUs are finalized with qualified suppliers wherein the
technical and commercial conditions are finalized in advance, thereby
reducing the procurement cycle. Subsequently, the bids may be
invited for price discovery. While TC-MOUs are generally finalized for
a period of one year with a set of pre-qualified suppliers, which may be
extended on mutual agreement basis, Open ended TC-MOU implies
that any new supplier (after finalization of TC-MOU) also will be eligible
for the TC-MOU provided they qualify for the PQR as mentioned
below. A supplier who enter into a TC-MOU will be considered for the
price discovery mechanism in the next demand cycle. The various
Steel items for which BHEL intends to have TC-MOUs shall always be
available on BHEL website. Full details can be downloaded from
BHEL's website http://www.bhel.com (Tender Notification Page)
against Ref No. NIT_80625 or from the CPP Portal website
https://eprocure.gov.in (Tender Search) against Ref
No.2024_BHEL_748208_1.
Pre-qualification requirement (PQR) is as below
• Suppliers shall have valid and continuous BIS certification for the

Irdai surrender value norms Rice exports sections being manufactured. (Valid BIS Certificate to be
uploaded)

at risk amid • Suppliers shall be either Class- I or Class- II local suppliers in-line

optimistic for life insurers huge tax

AATHIRA VARIER
Mumbai, 26 March
The Insurance Regulatory and
Development Authority of
India (Irdai) decision to retain
the existing surrender value
norms, amid requests from
life insurance companies, is
deemed positive for the
companies, say analysts.
In the final surrender value
norms included in the product
regulations announced by
Irdai in a gazette notification
late last week, the status quo
was maintained under the sur-
render value regulations. The
norms will be effective on
April 1, 2024.
In December 2023, the
insurance regulator proposed
to increase the surrender val-
ue paid by insurance compa-
nies to policyholders.
Insurance industry leaders
believed that higher surrender
values could lead to the pre-
mature exit of policyholders
from long-term insurance poli-
cies. Further, in a presentation
to the regulator, industry offi-
cials also explained that these
companies invest in longer-
tenure government securities,
and the proposed regulations
could result in insurers liqui-
dating these assets to pay pol-
icyholders, affecting the
industry’s growth. However,
the final regulations by the
regulator are mostly similar to
the existing regulations for
surrender values.
“This status quo provides
a big relief to life insurers, who
otherwise had the tough task
of balancing the impact of
increased surrender value on
lapsing customers by tinker-
ing with the distributor’s pay-
out, providing benefits to per-
sistent policyholders, and
A SNAPSHOT
n Increased surrender
value might prompt
premature exits from
long-term policies
n In the revised norms,
surrender value percentages
vary based on policy
duration and type:
For non-single premium
products: 30% in the
second year, 35% in the
third year, 50% between
four and seven years, and
90% in the last two years
For single premium
products: 75% within three
maintaining shareholders’
profitability (value of new
business margins),” analysts
at Emkay Global Financial
Services said.
In the new norms, the
guaranteed surrender value
(GSV) under the revised regu-
lations for other than single
premium products is 30 per
cent if the policy is surren-
dered in the second year, 35
per cent in the third year, 50
per cent between four years
and seven years, and 90 per
cent during the last two years.
For single premium prod-
ucts, the GSV will be 75 per
cent if surrendered within
three years and 90 per cent if
surrendered in the last two
years of the policy tenure.
An industry official noted
that the regulation is broadly
in line with the existing regu-
lation on surrender value,
with policyholders getting a
near 8-10 per cent benefit in
longer tenure (above five
years) non-participating (non-
par) policies. “The regulations
years, and 90% in the final
two years
n Sale of index-linked
insurance products tied to
underlying publicly
available index’s net
asset value
have completely gone back to
the existing ones. This will
largely benefit insurance com-
panies. The benefit would
largely go to the entities and
likely limit the benefit to poli-
cyholders because the earlier
draft had a clear-cut focus on
bringing benefits to them
along with bringing more
accountability to insurance
companies,” said Jinay Gala,
associate director, India
Ratings & Research.
The final product regula-
tions also note that the sale of
index-linked insurance prod-
ucts will be linked to the net
asset value of the underlying
publicly available index.
Meanwhile, in the case of
non-linked par products,
maturity benefits will reflect
the asset share and the bonus
accruals during the term.
Under non-linked, non-par
individual savings products,
the benefit shall be
guaranteed in terms of an
absolute amount at the incep-
tion of the policy.
with PPP-MII Order, 2017, as amended from time to time. (MII
Certificate attested by CA/Cost auditor to be enclosed)
• Suppliers shall possess good organisational soundness, Quality
demand System Adequacy and Financial strength. Evaluation for
registration will be done based on the parameters mentioned in
the Supplier registration form available at
Indian exporters have https://supplier.bhel.in. Prospective suppliers (Including MSEs &
received notices from the MSEs owned by SC/ST/Women) may visit online portal
customs department
demanding payment of duty
http://www.bhel.com (Supplier Registration > Online Supplier
differentials on rice exported Registration Portal) or direct URL https://supplier.bhel.in and
in the last 18 months, four apply for registration and signing of TC-MoU.
exporters told Reuters, a rare
tax demand that could crip-
GM/MM BHEL, Tiruchirappalli – 620014 (TN)
Ph No: 0431-257-4074 / 6186
ple rice shipments from
E-mail : pspandi@bhel.in/ sudheer@bhel.in/ UPC@bhel.in
India. The world’s biggest
rice exporter imposed a 20p
er cent export duty on white
rice in September 2022, fol-
lowed by a similar duty on
parboiled rice in August 2023
to control domestic rice
prices ahead of key 2024 state
and national elections.
Exporters were paying a
20 per cent duty based on the
free on board (FOB) value of
rice. However, the customs
department now requires
them to consider the trans-
action value and pay any
resulting duty difference.
“It is informed to pay the
export duty along with appli-
cable interest by exporters on
the amounts received
over and above the FOB
value declared in the ship-
ping bills,” the customs
department informed
exporters, in tax demand
notices seen by Reuters.
Exporters don’t have the
financial muscle to pay the
duty difference for nearly two
years; instead, they would
close the business, said an
exporter based in southern
state of Andhra Pradesh.
“The government is now
demanding additional duty,
which no overseas buyer will
pay to us. How could we then
pay the additional duty to the
government?” he asked.
REUTERS

5G speeds up, gender gap in mobile

money awareness still loading
SURAJEET DAS GUPTA
New Delhi, 26 March

India has witnessed a mobile revolution in recent years,

particularly with one of the fastest 5G networks globally.
However, there exists a clear gender gap in India regarding
the awareness of mobile money accounts, a key financial
tool for achieving financial inclusion.
According to an annual face-to-face consumer survey
conducted by Global System for Mobile Communications
Association (GSMA) across seven low- and middle-
income countries in 2023, adult women in India with
phones exhibit the lowest awareness of mobile money
accounts. Besides India, the surveyed countries include
Bangladesh, Indonesia, Kenya, Nigeria, Senegal, and
Pakistan. The survey reveals that while awareness of
mobile money accounts among the adult female
population in India with mobile phones increased from 27 MOBILE MONEY: GENDER GAP IN INDIA
per cent in 2022 to 34 per cent in 2023, it still remains the nMobile money awareness nMobile money account ownership
lowest compared to Indonesia (48 per cent), Bangladesh (% of total adult population) (% of total adult population)
(72 per cent), Pakistan (76 per cent), Nigeria (70 per cent),
and Kenya (100 per cent). 52 (M) India 24 (M)
Conversely, awareness among adult Indian men with 34 (F) 11 (F)
phones increased from 41 per cent in 2022 to 52 per cent 99 (M) 94 (M)
in 2023. This survey is part of GSMA’s comprehensive Kenya
100 (F) 92 (F)
report titled ‘The State of the Industry Report on Mobile
Money 2024’. 82 (M) Nigeria 35 M)
Similarly, in India, the gender gap in mobile money 70 (F) 19 (F)
account ownership between adult men and women 99 (M) Senegal 88 (M)
stands at 56 per cent. While only 11 per cent of the total 98 (F) 72 (F)
adult male population with phones possesses a mobile 81 (M) 49 (M)
money account, this number is projected to more than Bangladesh
72 (F) 21 (F)
double to 24 per cent among adult males by 2023.
The gender gap in mobile money accounts in India is
52 (M) Indonesia 19 (M)
comparable to Bangladesh but lower than Pakistan. 48 (F) 18 (F)
However, this gap is significantly narrower in other 86 (M) 28 (M)
countries such as Kenya (2 per cent), Indonesia (9 per 76 (F) Pakistan 8 (F)
cent), and Senegal (18 per cent). M: Male; F: Female; Source: GSMA-based on survey undertaken for 2023
8 WORLD
>
MUMBAI | WEDNESDAY, 27 MARCH 2024

IN BRIEF USbridgecollapsesasshipwithall-Indiancrewcollides
6 Chinese nationals killed A 948-foot container ship state's transportation

in suicide attack in Pak smashed into a four-lane

bridge in the US port of
At least six Chinese nationals were killed on Tuesday when an Baltimore in darkness
explosive-packed vehicle rammed into their bus in Pakistan's early on Tuesday, causing
troubled northwestern province of Khyber-Pakhtunkhwa, it to collapse and sending
officials said.The Chinese were working on the Dasu cars and people plunging
hydropower project. Several others were injured in the incident into the river below.
that occurred in the Bisham area of Shangla district of the Rescuers pulled out two
province when a bus en route from Islamabad to Kohistan was hit survivors, one of whom
by a vehicle coming from the opposite direction, police said. No remains hospitalised, and
group has so far claimed responsibility for the attack. Bisham were searching for more in
Station House Officer (SHO) Bakht Zahir said that the incident was the Patapsco River after
a “suicide blast” and the authorities concerned were collecting huge spans of the 2.57 km
the evidence, Dawn.com reported.Security arrangements were Francis Scott Key Bridge
tightened at the spot and the bodies were being shifted to a crumpled into the water.
hospital, he further said. "We will investigate from where and “The preliminary
how the vehicle of a suicide bomber came and how it investigation points to an
happened,” the SHO said. PTI accident,” Maryland
Governor Wes Moore said
at a briefing, and there was
Biden gains ground no credible evidence of
terrorism.
secretary said hours after
the collision, which closed
one of the busiest ports in
the US.
The US Coast Guard
reported the collapse at
1:27 am.
The entire 22-member
crew of the Singapore-
flagged container
container ship ‘Dali’ were
Indians, the Synergy
Marine Group said. “All
crew members, including
the two pilots, have been
accounted for and there
are no reports of any
injuries. There has also
been no pollution,” the
company said.
Traffic was suspended at
the Port of Baltimore until

against Trump in 6 states Eight people were on the

bridge at the time of the
further notice. It is the
busiest US port for car
President Joe Biden has gained ground collision and six remain shipments.
against Republican Donald Trump in six of unaccounted for, the AGENCIES
seven key swing states, and significantly so in
at least two of them. The results make for the
Democrat’s strongest position yet in a monthly ‘Dali’ cargo vessel crashed into the Francis Scott Key
Bloomberg News/Morning Consult poll. Bridge in Baltimore, causing it to collapse PHOTO: REUTERS
The move in the president's direction comes
after five months of mostly consistent Trump
leads, and follows a State of the Union

Gaza ceasefire elusive Visa, Mastercard

address that rallied Democrats and
seemed to mitigate concerns about
Biden’s age. BLOOMBERG

Xi Jinping to meet with as Israel, Hamas dig in reach $30 bn deal

American execs today
China's President Xi Jinping will meet with American business
ASSOCIATED PRESS
26 March ISRAELI PRIME
with US retailers
leaders in Beijing on Wednesday, according to three sources with
MINISTER BENJAMIN Settlement over swipe fees set to
H
knowledge of the matter, in a follow up to his November dinner amas has rejected the latest
with US investors in San Francisco.The meeting was proposed by proposal put forward by NETANYAHU HAS SAID end a two-decade-long legal battle
chief executive of US insurer Chubb, Evan Greenberg, said one of international mediators for a
the sources who has direct knowledge of the matter. Other cease-fire and hostage release, and
ISRAEL CAN ACHIEVE ITS BLOOMBERG popular rewards programs.
attendees include Stephen Orlins, president of the National Israel has blasted a UN Security AIMS OF DISMANTLING 26 March In recent years, merchants have
Committee on US-China Relations, and Craig Allen, president of Council resolution that called for both HAMAS AND grown increasingly vocal about
the US-China Business Council. REUTERS without linking them. Visa Inc and Mastercard Inc agreed their opposition to these fees,
As the war in Gaza grinds through RETURNING SCORES OF to cap credit-card swipe fees — a which typically amount to about 2
a sixth month, each side has publicly HOSTAGES IF IT deal that US merchants say will per cent of a purchase and totalled

Pakistan to seek US waiver insisted that its own idea of victory is

in reach, and late Monday they
rejected the latest international efforts
for Iran pipeline project to stem the bloodshed.
Israeli Prime Minister Benjamin
Pakistan has decided to plead "vigorously" and seek Netanyahu has said Israel can achieve
exemption from potential US sanctions against the planned its aims of dismantling Hamas and
construction of a multi-billion dollar pipeline to import cheap gas returning scores of hostages if it
from neighbouring Iran, the petroleum minister has said, expands its ground offensive to the
asserting that it "can't afford sanctions" on the project. southern city of Rafah, where over half
Minister for Petroleum Dr Musadik Malik said that the of Gaza's population has sought ref-
government would seek exemption from US sanctions for the uge, many in crowded tent camps.
multi-billion-dollar Iran-Pakistan (IP) gas pipeline project, the Hamas has said it will hold onto
Dawn newspaper reported. PTI the hostages until Israel agrees to a
more permanent cease-fire, with-
draws its forces from Gaza and releas-
EXPANDS ITS GROUND
OFFENSIVE TO THE
SOUTHERN CITY
OF RAFAH
An Israeli strike late Monday on a
residential building in Rafah where
three displaced families were shelter-
ing killed at least 16 people, including
nine children and four women,
according to hospital records and rel-
atives of the deceased. An Associated
Press reporter saw the bodies arrive at
to make any concessions.
“The message delivered to Hamas
yesterday … is that you don't have to
hurry,” Katz said.
The war began on October 7, when
Hamas-led militants stormed across
the border and attacked communities
in southern Israel, killing some 1,200
save them at least $30 billion over
five years — in one of the most sig-
nificant antitrust settlements ever
as they seek to end a legal fight that
spanned almost two decades.
The deal, which is subject to
court approval, also would allow
retailers to charge consumers extra
at checkout for using Visa or
Mastercard credit cards and use
pricing tactics to steer customers
to lower-cost cards, according to a
statement on Tuesday from attor-
neys representing the merchants.
“This settlement achieves our
goal of eliminating anti-compet-
more than $100 billion last year.
While Visa and Mastercard set the
level of these fees, it’s the banks
that issue the cards that actually
collect most of that revenue.
That means banks including
JPMorgan Chase & Co, Bank of
America Corp and Citigroup Inc
that issue cards with Visa and
Mastercard are likely to take a hit
with these concessions.
JPMorgan, the biggest US bank,
collected $31 billion of interchange
and merchant processing income
last year, leading to total card
income of $4.8 billion after it

Andrew Left wants refund, es hundreds of Palestinian prisoners,

including top militants. It said late
Monday that it has rejected a recent
apology in Evergrande case proposal that fell short of those
demands — which, if fulfilled, would
Andrew Left wants an apology from Hong Kong’s market allow it to claim an extremely costly
regulator — and a refund. The founder of Citron Research was victory.
fined HK$1.6 million and hit with a five-year trading ban from a There is no end in sight to the war,
city tribunal in 2016 for questioning the financial soundness of which has killed over 32,000
China Evergrande Group years before the developer’s collapse. Palestinians, according to Gaza's
The verdict came after Hong Kong’s Securities and Futures Health Ministry. The fighting has left
Commission accused Left of market misconduct and making much of the Gaza Strip in ruins, dis-
“reckless” allegations about Evergrande’s accounting and placed most its residents and driven
finances in a 2012 research report. BLOOMBERG a third of its population of 2.3 million
to the brink of famine.
a hospital.
On Monday, the Security Council
finally managed to pass a resolution
calling for a cease-fire as the United
States abstained instead of vetoing the
measure, angering Israel in a major
escalation of tensions between the two
close allies. The resolution calls for the
release of all hostages held in Gaza but
does not condition the cease-fire on
it. Israeli Foreign Minister Israel Katz
told Army Radio on Tuesday that the
resolution had emboldened Hamas by
signalling that international pressure
would end the war without it having
people, mostly civilians, and abduct-
ing around 250 others. It is still
believed to be holding about 100 hos-
tages and the remains of 30 others,
after most of the rest were freed in
November in exchange for the release
of Palestinian prisoners.
The United States, Qatar and Egypt
have spent several weeks trying to
negotiate another cease-fire and hos-
tage release, but those efforts
appeared to have stalled. Hamas said
in a statement late Monday that it has
informed the mediators it will stick to
an earlier position.
itive restraints and providing
immediate and meaningful sav-
ings to all US merchants, small and
large,” Robert Eisler, co-lead coun-
sel for the plaintiffs, said in the
statement.
The legal fight over credit card
swipe fees dates back to at least
2005 — before both Visa and
Mastercard were spun off from the
banks that owned them to become
publicly traded companies. The
fees, also known as interchange,
are a key driver of profit for card-
issuing banks and they are the pri-
mary mechanism used to fund
accounted for customer rewards,
payments to partner companies
and other costs.
Terms of settlement
As part of the settlement, Visa and
Mastercard agreed to reduce the
swipe fees they charge each mer-
chant by at least 4 basis points for
at least three years, lawyers for the
retailers said. And, for a period of
five years, the average systemwide
swipe fee for both networks must
be at least 7 basis points below the
current average, subject to review
by an independent auditor.

Microsoft Bing chief to exit;

will look for new position Neumann offers to buy back WeWork China set to challenge
Microsoft’s Mikhail Parakhin, head of the company’s Bing search Adam Neumann and several partners package for the co-working firm, and its advisers — submitted a poten-
engine and advertising businesses, will exit those roles and look
for a new position, a week after the software giant named
Mustafa Suleyman to oversee consumer artificial intelligence
submitted an offer to buy WeWork out
of bankruptcy for more than $500 mil-
lion, putting one of the tech world’s
Bloomberg News reported in February.
The Wall Street Journal reported on
Monday that Neumann offered to buy
tial bid for substantially more than the
Wall Street Journal reported,” said a
representative of Flow.
US EV plans at WTO
work and asked Parakhin to report to him. Parakhin, who had most controversial founders a step the company for more than $500 mil- The bid adds another dramatic REUTERS
been chief executive officer for advertising and web services, will closer to regaining control of his long- lion, citing people familiar with the chapter to the saga of WeWork and its 26 March
report to Chief Technology Officer Kevin Scott while searching for troubled startup. matter. “Two weeks ago, a coalition of charismatic founder, the subject of
his next role, Microsoft said. Parakhin also oversaw some parts of Neumann and his real estate firm, half a dozen financing partners — books, podcasts, a television series and China has initiated dispute settle-
the company’s Windows software business. BLOOMBERG Flow, had pulled together a financing whose identities are known to WeWork a movie. BLOOMBERG ment proceedings against the
United States at the World Trade
Organization to safeguard its
interests in the electric

Social media deal lifts Trump’s fortune overnight
BLOOMBERG & REUTERS
26 March
Former US President Donald Trump’s
business empire was supposed to be in
peril like never before. But his fortune
turned the corner on Monday and Tuesday.
Facing a deadline to post a bond of more
than $500 million in a New York fraud
lawsuit, a state appeals court tossed him a
lifeline, slashing the amount he’d have to
post to $175 million — an amount he says
he’ll cover. Around the same time, his
social media company Trump Media &
Technology Group wrapped up a 29-
month-long merger process with Digital
World Acquisition Corp, meaning shares
worth billions of dollars on paper are now
officially Trump’s.
All told, the Republican presidential
candidate’s net worth increased by more
than $4 billion. That means for the first
time ever, Trump joined the ranks of the
world’s wealthiest 500 people on the
Bloomberg Billionaires Index, with a
fortune of $6.5 billion.
The deal will inject $300 million cash to
Truth Social, which had lost $10.6 million
from its operations in the first nine months
of 2023.
Former US President Donald Trump’s net worth increased by more than $4 billion
Trading in shares of Trump Media &
Technology Group was halted for volatility
after they rose as much as 58 per cent on
Tuesday. It was the first first session for the
social media as a publicly traded company
on Nasdaq, after the most high-profile
blank-cheque deal in years.
Trump Media debuts with a stock price
near $50 and a market value of about $6.8
billion. The time trading was halted the
stock price was $70.46 and the company's
market capitalisation was $9.55 billion on
an undiluted basis. Trump's majority stake
in the media group was last valued at $5.55
billion, although lock-in restrictions for six
months could prevent him from selling or
vehicle industry, the Chinese mis-
sion said on Tuesday and the
WTO confirmed.
borrowing against his shareholding.
China said it was contesting
“discriminatory subsidies” under
“We have a great company and are
incredibly honored,” Eric Trump,
the US Inflation Reduction Act
that it said resulted in the exclu-
executive vice president of the Trump sion of goods from China and
Organization, said in a statement. other WTO countries.
Trump, 77, has been rich all his life. But The wide-ranging law provides
his fortune, which previously peaked at billions of dollars in tax credits to
$3.1 billion, has largely consisted of real help consumers buy electric
estate properties, creating a potential vehicles and companies produce
financial crisis ahead of Monday’s renewable energy, as President
deadline to either pay his $454 million Joe Biden aims to decarbonise the
verdict or post a bond for 120 per cent of the mighty US power sector.
judgment. New York Attorney General “Under the disguise of
Letitia James signaled she was ready to responding to climate change,
seize assets if Trump didn’t comply. reducing carbon emission and
Trump vowed to quickly post cash or a protecting environment,
bond to cover the lowered amount. (these subsidies) are in fact con-
Digital World Acquisition shares closed tingent upon the purchase and
at $49.95 apiece on Monday, up about 185 use of goods from the United
per cent since the start of the year. States, or imported from certain
Trump, who is facing four criminal particular regions,” the Chinese
trials in his race to US presidency, has been mission said.
struggling to raise money for his campaign It said it was launching the
and legal expenses. proceedings “to safeguard the
Meanwhile, a pause to a ruling that legitimate interests of Chinese
would have blocked New York state electric vehicle industry and to
authorities from seizing his assets bought maintain a fair level playing
Trump some financial breathing room as field of competition for the global
he tries to build a campaign war chest and market”.
keep his real-estate empire intact. A WTO official confirmed that
EV giant BYD posts
slowest quarterly
profit in 2 years
Chinese electric vehicle giant BYD
reported an 18.6 per cent rise in
fourth-quarter profit on Tuesday,
its slowest since the first quarter of
2022, as EV sales lost momentum in
the world's biggest auto market
amid a brutal price war.
Net profit totalled 8.67 billion
yuan ($1.20 billion) last quarter,
with revenue up 15.1 per cent at
180.04 billion yuan, according to
BYD's stock market filing. REUTERS
a request from China for dispute
consultations on the matter had
been received, without providing
details.
In Beijing, a spokesperson for
China’0s Ministry of Commerce
said it urged Washington to
“promptly correct discriminatory
industrial policies, and maintain
the stability of the global indus-
trial and supply chains for new
energy vehicles”.

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 >
OPINION 9
STAY INFORMED THROUGH THE DAY @ WWW.BUSINESS-STANDARD.COM

VOLUME XXVIII NUMBER 191

MUMBAI | WEDNESDAY, 27 MARCH 2024

The secondary sex The state of state budgets

With states expected to push the reforms agenda, a mechanism led the charge in raising capex. These are Goa, Uttar
Parties should have given the election ticket to more women
is needed for assessing their budget data Pradesh, Jharkhand and Rajasthan, all of which have

W
ILLUSTRATION: BINAY SINHA more than doubled their capital outlays as a percent-
omen have been front and centre of the campaign for the upcoming
parliamentary elections, with every party tailoring its poll promises age of GSDP. While states like Assam, Uttarakhand,
Bihar, Chhattisgarh, Gujarat, Maharashtra and Tripura
to the needs of women, who account for nearly half the country’s
have also raised their capex, though by lower margins,
968 million voters. The Bharatiya Janata Party (BJP), the ruling the states that have seen a worrying decline or only a
party, and the principal national Opposition party, the Congress, have been in a marginal increase are Delhi, Himachal Pradesh,
competitive race to attract this section of the electorate. Where the BJP-led gov- Karnataka, Punjab, Tamil Nadu, Kerala, Telangana,
ernment has broad-based women-focused health, education, and other pro- West Bengal and Haryana. The laggards in this area
grammes, the Congress has offered the Nari Nyay scheme, promising ~1 lakh per need to be closely studied to find out what went wrong
annum in women’s bank accounts and 50 per cent reservation in all recruitments in the overall push towards more infrastructure, an

S
in central-government jobs. Though the practicality of such extravagant promises everal states have by now presented their annual and Uttar Pradesh, which have otherwise run their initiative that had been set in motion by the Centre,
budgets for 2024-25. Unsurprisingly, many of public finances quite efficiently. particularly after Covid.
remains an open question, it is striking how far political rhetoric lags practice
them have made rosy projections and tall promis- The list of states that have reduced their fiscal The broad trajectory of growth in tax collections
for all parties. This point has become particularly moot after a special session of es. Only time will tell if these announcements result deficit from what they had promised in their budget and revenue expenditure has been similar for both
Parliament last year passed the 106th Amendment Act, popularly known as the in actual performance on the ground, either by fulfill- estimates is even more interesting. These are: Delhi, the Centre and these 20 states. The share of revenue
Women’s Reservation Bill, reserving 33 per cent of seats in Parliament for women ing the promises made or through effective imple- Gujarat, Haryana, Punjab, Uttarakhand, West Bengal, spending by the Centre has stayed at 12-13 per cent of
for 15 years. Since this provision will become operational after the delimitation mentation of the policies outlined. Tripura, Telangana, Goa, Jharkhand and Kerala. The GDP, just as these 20 states also saw their revenue
exercise, all political parties have ample time to prepare their electoral rolls for But going beyond the question of implementation, only explanation here seems to be that relatively small expenditure at about 13-13.5 per cent of GSDP.
this eventuality. Yet, in an unconscious demonstration of the lip service that these budgets serve another purpose. They bring to light states have managed better fiscal consolidation than The difference is with respect to tax revenue col-
the actual and revised numbers that underlie those bud- their larger counterparts. The exceptions here are the lections. The Centre has managed to keep its net tax
political parties tend to pay to women’s issues, no key party has an equivalent
gets presented in the last three years. The objective of states of Gujarat and West Bengal. collections at around 7-8 per cent of GDP in this period
proportion of women on their party lists even now. this article is to use these budgets to assess how these How has fiscal consolidation been for the states (not much different from the pre-Covid years), while
The BJP leads the race, with women accounting for about 17 per cent of the states have done in the post-Covid period from 2021-22 during the post-Covid years? Among the 20 states these states have kept their own tax revenues at
candidates it had announced up to March 25. With 66 women candidates so far, to 2023-24, for which reliable numbers are now available. that have presented the Budget for 2024-25, as many around 6.5-7 per cent of GSDP. But where the states
the party has steadily improved its record in terms of gender tally. In 2014, 38 of And perhaps compare that assessment with the trends as 13 states have run up a fiscal deficit in 2023-24, have gained is from tax transfers from the Centre,
its 428 candidates were women; in 2019, it rose to 55 out of the 436 contestants. seen in the Centre’s budgets in the same years. which is higher than what prevailed in 2021-22. These which amounted to an additional 3-3.5 per cent of
Preliminary lists from the Congress suggest about 12 per cent of the candidates For obvious reasons, the numbers under study are are Assam, Bihar, Chhattisgarh, Gujarat, Himachal GSDP. If some states could not stay within their fiscal
are women. The real surprise is the Trinamool Congress (TMC). The party’s list of actuals for the first two years (2021-22 Pradesh, Uttar Pradesh, Uttarakhand, deficit targets even after such transfers, there is a need
and 2022-23) and revised estimates for Tamil Nadu, Goa, Jharkhand, for bringing them under closer scrutiny.
42 seats in West Bengal had 12 women candidates. However, the overall discour-
the current financial year. A quick look Maharashtra, Rajasthan and Tripura. This brings us to the larger question of why there
aging numbers are likely to represent an improvement over the 2019 Lok Sabha at these budget numbers for about 20 It is remarkable that some of the is relatively less discussion and debate about the finan-
election, when women accounted for 9 per cent of all candidates. The 2019-24 large states (excluding Andhra Pradesh stronger states today have a fiscal cial performance of state governments, compared to
Lok Sabha saw 78 women members, accounting for 14.3 per cent of the total, a and Odisha, which are going into their deficit that is more than what they ran the sharp focus on the Centre’s management of its
modest total that nevertheless was the highest number in the country’s history. respective Assembly elections in the in 2021-22. finances. And this happens even though the total size
Though steady incremental improvement is encouraging, these numbers coming weeks) offers many takeaways The states that have done well on of the states’ budgets is now almost 18 per cent larger
suggest that political parties will have some catching up to do when the for those tracking India’s public finance. this front are Delhi, Haryana, than that of the Centre’s budget.
women’s reservations law kicks in. Currently, India lags the global average of On the question of these states’ Karnataka, Punjab, West Bengal, The absence of analysis of state finances, in sharp
intent on fiscal consolidation, the pic- Kerala and Telangana. They can rub contrast to the general obsession with the Centre’s
women’s representation in Parliament of 26.9 per cent by some margin, accord-
ture is mixed. Quite a few states have shoulders with the Union govern- budgets, is largely attributable to the relative lack of
ing to the Inter-Parliamentary Union (IPU). The country stands at 144 out of
184 countries in the IPU’s latest monthly global rankings of women in national
RAISINA HILL
failed to fulfil their fiscal deficit targets ment, which has not only bettered its data on state budgets. Not only are the state budget
they had set for themselves at the time fiscal deficit performance in each of data not easily available, but they are also presented
parliaments. The journey of greater women’s representation on corporate of presenting their budgets. In 2023- A K BHATTACHARYA these years, but has also effected an in different formats by different state governments,
boards at 20 per cent of the total directors’ pool from 15 per cent in 2019, 24, for instance, as many as seven states almost one percentage point decline in making the task of comparison and analysis a little
though still low, shows that linear progression is possible. But to more than have produced a revised estimate of their fiscal deficit fiscal deficit during this period. However, the fact more onerous. The Reserve Bank of India does come
double the representation of women in Parliament as well as state and Union that is wider than what they had projected in the bud- that many states, which are large and whose finances out with an annual compendium of state budgets, but
Territory Assemblies means that all parties will have to up their game in terms get estimate. Assam, Bihar, Chhattisgarh, Himachal are run efficiently, could not bring their deficit down this comes after a lag of a few months.
Pradesh, Tamil Nadu, Maharashtra and Rajasthan are in this period is a cause for concern. At a time when the Centre is focusing more on the
of female representation. While Parliament has passed a law and it will come
guilty of not adhering to their own target, while On capital expenditure, the Centre has succeeded states, expecting them to shoulder the task of the next
into effect in due course, the 2024 Lok Sabha election was a good opportunity Karnataka and Uttar Pradesh have barely managed to in raising it from a level equivalent to 2.5 per cent of generation of economic reforms, it will be a good idea
to demonstrate actual commitment. stay close to the number they had indicated. gross domestic product (GDP) in 2021-22 to 3.2 per cent to create an institutional mechanism for periodic com-
Clearly, there is no pattern in this performance. in 2023-24. Something similar, and indeed better, has pilation and publication of state budget data in a format
If you thought the problem lies with eastern, north- happened with the states. At the aggregate level, these that makes their numbers comparable with those avail-
eastern and hilly states, then what explains the poor 20 states have raised their capex as a percentage of their able for the Centre’s budgets. India needs greater delib-
Improving confidence performance of large states like Tamil Nadu, gross state domestic product (GSDP) from a lower level
Maharashtra and Rajasthan? Equally puzzling is the of 2.09 per cent to 3.36 per cent in the same period.
eration and debate over state finances. The first step
towards facilitating that would be a better system for
none-too-encouraging performance of Karnataka The surprise, however, comes from the states that collecting and publishing state budget data.
A healthy banking system will support growth

A
fter a decade of rising non-performing assets (NPAs) and lax underwriting
standards, particularly on corporate loans, the Indian banking sector is
now in good health, with rising profits and the restoration of investor
trust. This was reaffirmed in a recent survey of bankers conducted by the
Federation of Indian Chambers of Commerce and Industry and the Indian Banks’
Indian cities cry out for UMTA
A
Association. The survey, covering 23 banks, showed the sector continued to perform s far back as 2006, the Central government, Differentiated travel demand should guide the choice public transport services and a small bus route run-
well on several parameters, including asset quality and credit growth. The survey through the Ministry of Urban Development, of public transport system to ensure that the majority ning on arterial and sub-arterial roads.
findings also report that banks are well-positioned to transition to the expected released the National Urban Transport Policy, of the citizens can access a high-quality public transport Dr Chakrabarti’s report titled “Strategies to Improve
credit loss (ECL) regime, and are taking steps towards climate adaptation and miti- which recommended the creation of a Unified system. An integrated system can ensure high ridership the Financial Performance of Metro Rail System in
gation. These include focusing on green financing, going paperless, and imple- Metropolitan Transport Authority (UMTA) for all cities of public transport, with all social benefits linked to real- India” harps extensively on the UMTA as a clear line
with a population above 1 million. According to the ising a high ridership of the public transport system. of attack. In summary, he advocates a four-pronged
menting environmental campaigns like promoting bio-fencing in coastal regions
2011 Census, there were 53 such cities. 2. High-capacity systems like metro rail are very move, which is:
as part of their ESG (environmental, social, and governance) initiatives. In August 2017, the Union Cabinet cleared the new attractive for long trips. In large cities with popula- l The UMTA should take over ownership, operations
About 83 per cent of the respondent banks reported unchanged or easing Metro Rail Policy, which laid down a framework for tions exceeding 8 million, it’s feasible to have 300- and maintenance of all non-privatised transportation
credit standards, citing a positive growth outlook for the economy, the decline cities seeking to introduce and expand the role of their 400 km of metro lines. However, it must have a infrastructure in the city, including roads and all modes
in NPAs, and low sector-specific risks. There has also been an increase in long- metro rail systems. Whilst many cities have committed robust, reliable network of bus systems operating on of public transit. Consequently, all city or metropolitan
term loan disbursements for certain sectors, including infrastructure, iron and to new metro rail projects, there has been little attempt all arterial and partially on sub-arterial roads, totalling area-specific transportation-related functions, such
steel, food processing, and pharmaceuticals. Notably, as identified by the respon- to understand how any metro rail system fits within about 800-1,000 km. Last-mile connectivity can be as policy formulation, strategic planning, project
dent banks, these are also the sectors with higher levels of NPAs. If these sectors the overall public transport requirements of a city and facilitated through walking and intermediate public appraisals and approvals, project implementation,
its commuters. This policy made it clear that if a city transport options such as autos. Integrating the three operations and maintenance, funding, and research
happen to get easy access to credit, the issue deserves attention. Banks must
wants central assistance for its metro systems at a policy, planning, design should be the responsibility of the UMTA.
avoid getting into the high NPA cycle again. They, however, are generally opti- rail project, its state government will and regulatory framework level will l The UMTA can appoint contractors for any of the
mistic about the level of stressed assets on their books, with 77 per cent of the have to commit to operationalising ensure a high-quality public trans- functions and enter into equity partnerships with pri-
respondent banks reporting a decrease in the NPA levels over the last six months. UMTA — a body that would then be port system. Feeder bus routes can vate sector entities when required or feasible. It will
Over half the respondent banks in the current round say gross NPAs would be in responsible for all forms of urban effectively serve as a means of con- also be responsible for managing, regulating and
the range of 3-3.5 per cent over the next six months. The optimism is not unfound- transport. This would then enable an necting passengers to metro sta- licensing the private transportation service network
ed, given the sharp decline in gross NPAs from 11.6 per cent at the end of FY18 to integrated approach to mobility in the tions, eliminating the need for spe- layer (app-based ride-hailing), micro-mobility layer
3.2 per cent in September last year. The slippage ratio, which measures new city. Further, cities where metro pro- cial feeder buses. (shared bicycles and electric scooters) and the city
jects are already under implementa- 3. Travel demand in cities with 4-8 mil- logistics layer (e-commerce deliveries, goods move-
additions to bad loans, has also moderated. Naturally, low slippages will translate
tion have to consider setting up the lion population can be well-served by ment, warehousing, etc).
into improved asset quality across all bank groups. UMTA within a year. a bus system running on all arterial l Traffic control, integrated mobility payment systems
It is indeed a relief that both public- and private-sector banks are in good health.
However, concerns remain regarding future profitability. The survey finds a significant
The 16th Report of the
Parliamentary Standing Committee
INFRATALK and sub-arterial routes. For about 20
per cent trips longer than 10 kms, light
(example, transit smart cards), multimodal system
data collection and real-time travel information pro-
shift towards term deposits offering higher rates of interest. Nearly 70 per cent of on Housing and Urban Affairs (2021- VINAYAK CHATTERJEE rail transport (LRT) or bus rapid transit vision should also be the UMTA’s responsibility.
the banks reported a decrease in the share of current account savings account 2022), commenting on the subject of systems (BRTS) can be introduced to l The UMTA would be required to initiate major insti-
(CASA) deposits in total deposits. CASA is low-cost deposits mobilised by banks, metro rail projects, highlighted that it was “dismayed complement the bus network. Last-mile connectivity tutional changes and systematic transfers of ownership
to note that despite a lapse of more than four years… can be achieved by walking and intermediate public of transportation assets and functions across cities.
and lower amounts of low-cost deposits imply lower profit margins. Further, a sig-
States are yet to constitute UMTA.” transport. Cities with more than 1 million population Many international cities cited as models for public
nificant number of fraud cases within the banking sector, along with high levels of To come to grips with the prevalent situation, The should start planning high-capacity systems like transport have such an overarching body to plan, exe-
interconnectedness between commercial banks and non-banking financial com- Infravision Foundation commissioned two focused BRTS/metro lines as an integrated system. cute and run all aspects of urban mobility. These
panies (NBFCs), can increase contagion during times of stress. The Reserve Bank of sets of research — one by Geetam Tiwari of the Indian 4. In cities with lower populations (less than 1 million), include the New York City Transit Authority, Transport
India has flagged the issues of interconnectedness in its recent publications. In this Institute of Technology, Delhi, and another by Sandip it is advisable to invest in a high-quality bus system to for London, and Singapore’s SBS Transit and SMRT.
regard, NBFCs must be nudged to diversify their funding sources away from banks. Chakrabarti of the Indian Institute of Management, meet travel demand effectively. Planning for high- Indian cities, too, need to put commuters at the
Nonetheless, the overall improved health of the banking sectors should support Ahmedabad — both renowned transportation experts. capacity systems like metro should be considered only centre of their transportation decision-making. A uni-
growth momentum in the economy. The Union government has supported economic Dr Tiwari’s report titled “A Framework for Selecting if the city is projected to grow beyond 1 million and is fied metropolitan transport authority is an inescapable
an Appropriate Urban Transport System in Indian Cities” expected to reach a population of over 24 million within and urgent precondition.
recovery from the pandemic through substantial increases in capital spending and
concludes with five clear recommendations: the next 10 years.
it is now time for the private sector to push capex. A healthy bank balance sheet will 1. Different public transport systems are suitable for dif- 5. Travel demand in cities with less than 5,00,000 The writer is an infrastructure expert. He is also the founder
help enable this transition. ferent travel patterns as determined by the trip length. population can be met by improved intermediate and managing trustee of The Infravision Foundation

Bihar’s half revolution The book does discuss the years in

orthodoxy, Buddhism and Jainism; and
the development of Sher Shah Suri’s
Grand Trunk Road that passed through
Bihar, is discussed.
But how could a state that had all that
come to this? A 2012 paper by two
BOOK REVIEW academics is quoted by the author. It
explains how the land revenue system
ADITI PHADNIS called Permanent Settlement
introduced by Lord Cornwallis (1793)
between but the bulk of the book is
about the interplay of land, caste, crime
and politics between 1990 and 2005, the
year of “Jungle Raj” in Bihar. During
these years, the author says, “the
government de-emphasised the state’s
urgent development issues in order to
pursue the ostensibly higher goals of
social empowerment”. He adds that
recruitment to public posts and
development expenditure were highly
curtailed in the belief that this would
primarily benefit the upper castes. The
a revolution half-way, you dig your grave”.
How the Congress leadership,
dominated by upper castes, managed to
make even a half-way revolution is a story
in itself. The asymmetry between
economic and social power would
become the dominant discourse in
politics: An upper caste Congress
leadership seeking to “steer” the Other
Backward Classes (OBC), newly
empowered by land
legislation and
beneficiaries of land
redistribution. To
nothing more to say. But the author
chronicles in detail, the growth and
development of gangs, the inability and
eventual retreat of the state in its capacity
to deal with them and Lalu Prasad’s
sublime indifference to development.
The rallying cry was “bhurabal saaf karo”
(clear out the brown hair, bhurabal being
an acronym for upper caste Bhumihar-
Rajput-Brahmin-Lala or Kayasth).
BROKEN
Experiments to
empower OBCs —
PROMISES: Caste, mainly Yadavs — by
Crime and Politics moves such as
hand-picking Abhayanand, as director
general of police. But no less was the role
of P K Shahi who was appointed
advocate general. Armed with a
selected bureaucracy, Nitish Kumar
embarked upon a turnaround story that
illustrates a new reality in Indian
politics — that the way to the heart of a
voter is via an accessible police station.
Mayawati and Yogi Adityanath would
follow a similar strategy in UP.
But by the time Nitish Kumar’s first
tenure ended, caste politics had
resurfaced. The effort now was to

T
he research is meticulous and
extensive. The analysis of how
Bihar slid into a development
morass and then tried to climb out of it is
penetrating and perceptive. Caste rules
everything, ranging from intellectual
pursuit to crime in Bihar, and in this
book, too, a caste slant creeps in almost
unseen and possibly inadvertently.
The book is organised as a political
history of the state. So Pataliputra, the
centre of the all-India empire of the
Maurya dynasty, the establishment of
universities such as Nalanda and
Vikramshila; the home of
mathematicians and scientists such as
Aryabhata; the birthplace of two
seminal religions that challenged caste
delinked revenue from agricultural
output and proved to be a disincentive to
improve agricultural productivity. This
was in contrast to the Ryotwari system in
the Madras and Bombay provinces that
led to capital formation and investment
in agri-productivity, catapulting both
regions as centres of industrialisation.
The Freight Equalisation Policy
between 1952 and 1993 also had a role to
play in depriving Bihar of the comparative
advantage it could have had in developing
value-added activities and mineral-based
industries. As a result, Bihar’s gross
domestic product (GDP) remained
heavily dependent on agriculture and,
over time, land became virtually the only
factor of production.
central government was also culpable:
Allocation of resources away from states
such as Orissa and Bihar led to
underfunding of infrastructure, health
and education.
Earlier efforts led by Congress chief
minister Sri Krishna Sinha to abolish the
zamindari system in 1950 were followed
by the Land Ceiling Act in 1956 that
mandated land holdings of no more than
30 acres in the plains and 50 acres in the
hills. To retain their hold, landlords
resorted to proxy ownership, along with
other strategies. None of them involved
large-scale industrialisation. So
feudalism and caste combined to
illustrate the maxim of St Just, a leader of
the French Revolution: “When you make
keep the OBCs in
control, an upper
caste mafia was
encouraged during
Bindeshwari Dubey’s
tenure (1985-88). The
OBCs and lower
castes were slow to
respond but they too
formed their own gangs of brigands.
And thus arrived Bihar’s “darkness
at noon” moment: The ascent and
development of a kind of leadership
Bihar had not seen ever before, in the
rise of Lalu Prasad and the end of
“feudal democracy” of the Congress era.
So much has been written about Lalu
Prasad that you’d have thought there was
in Bihar starting Charwaha empower the Extremely Backward
Author: Mrityunjay Vidyalaya (Herders Classes (EBCs) and focus on Pasmanda
Sharma University) were Muslims (lower caste Muslims). His
Publisher: symbolic compromise with upper caste
Westland Books interventions, ganglords illustrated the limits to
Pages: 333 politically administrative restructuring. Despite
Price: ~699 meaningful but efforts, the “Bihari” identity could not
administrative supplant caste. Migration and the
failures. readiness to do low-paid jobs became a
In any event, after 15 years of Lalu fact of life to the point where “even the
Prasad, when Bihar got Nitish Kumar as Nepalese look down upon Biharis”.
chief minister, the base was so low that the Even the Nepalese? Really?
latter could only have taken the state up. Barring a few such throwaway
The book discusses how instruments remarks, the book is an excellent study
in law, policy and bureaucracy were of caste, class, crime and politics in
used by Nitish Kumar to wrest back Bihar, recommended most highly for
administrative control. He used the students of public policy and the
Arms Act to lock up mafia gang lords politics of India.
 QUICK TAKE: RERATING AHEAD FOR KARNATAKA BANK “China and Japan trying to shore up their

The Smart currencies is a reflection of weakness in their

Investor
(Share price in ~) The stock of Karnataka Bank is down 8.5 per cent economies, and they’re putting
from its monthly high. LKP Research has a ‘buy’ a band-aid on something that
requires something more
rating, given the favourable risk reward. The
MUMBAI | brokerage expects improving growth, efficiency,
significant”
WEDNESDAY, 27 MARCH 2024 OLIVER PURSCHE
and profitability to drive a rerating for the bank, Senior Vice-President,
which trades below its book value at 0.9 times Wealthspire Advisors
<

Tata powers Rekha Sponsor MF contributions near ~1 trn

Share of equity funds has been rising, though most assets are still in debt schemes

Jhunjhunwala’s SAMREEN WANI

New Delhi, 26 March

Mutual fund bets in their own

VALUE OF CONTRIBUTIONS
UP IN 2023-24
Contribution* Share of total
SHARE OF EQUITY HITS DOUBLE-DIGIT LEVEL
Mar ‘19 Mar ‘20 Mar ‘21 Mar ‘22
(Assets in ~ crore)
Mar ‘23 Feb ’24

portfolio in 2024
schemes are nearing the (~ cr) assets (%)
Income or

86,823
~1 trillion mark.

83,385
1,00,000 4.0

82,467
The total value of sponsor debt-oriented 77,232 69,375 73,533 58,085 62,779 76,108

74,516

73,746

95,058
and associate investments schemes
across all categories of 80,000 3.5
ILLUSTRATION: AJAY MOHANTY Growth or
DEEPAK KORGAONKAR & schemes touched ~95,058
PUNEET WADHWA SPARKLING crore in February, according
to a Business Standard analy-
60,000 3.0
equity-oriented
schemes
5,398 2,942 4,771 4,736 6,652 12,213

RETURNS
Mumbai/ New Delhi, 26 March 3.4
sis of data from industry body 40,000 2.5 Balanced 129 125 32 452 617 1,244

A
run-up of up to 27 per
cent in Tata Group
stocks has helped
Rekha Jhunjhunwala outper-
form the market and the
portfolio returns of other
marquee investors such as
Mukul Mahavir Agarwal,
Ashish Dhawan, Ashish
Kacholia, Vijay Kedia, and Anil
Kumar Goel and Seema Goel.
In the calendar year 2024
(CY24), Rekha Jhunjhunwala’s
net worth has increased by
more than 7 per cent, or ~2,865
crore, compared to less than
1 per cent rise in the S&P BSE
Sensex. On March 22, the com-
bined net worth of Rekha
Jhunjhunwala stood at ~41,676
crore, up 7.4 per cent and com-
pared to ~38,811 crore at the end
of December 31, 2023.
Chennai-based Dolly
Khanna and Agarwal are
other marquee investors that
saw their portfolio rise (up 6.5
per cent) and (1.7 per cent),
respectively, in CY24.
On the other hand, the
portfolios of Kedia, Ashish
Dhawan, and Anil Kumar
Goel and Seema Goel have
underperformed the market
by falling 2 per cent to 13 per
cent on account of sharp cor-
rection in smallcap stocks.
Ashish Kacholia’s portfolio
gained 0.1 per cent.
Rekha Jhunjhunwala,
inherited the stock portfolio
from her late husband,
Rakesh Jhunjhunwala, who
was popularly called India’s
Warren Buffett.
A large part of Rekha
Jhunjhunwala’s portfolio
gained from a sharp rally in
Tata group stocks. In four
group companies, Titan
Company, Tata Motors
(including DVRs), Indian
Hotels Company and Tata
Communication, Rekha
Jhunjhunwala holds shares
worth ~25,573 crore which
account for 61 per cent value
of her total portfolio. These
companies added ~1,652 crore
in total net worth gain of
Rekha Jhunjhunwala in CY24.
Tata Motors, which has ral-
lied 26 per cent in 2024, has
Indices snap 3-day winning run
PRESS TRUST OF INDIA
Mumbai, 26 March
Benchmark BSE Sensex
declined by 361 points on
Tuesday, snapping its three-
day gaining streak due to sell-
ing in index major Reliance
Industries, HDFC Bank, and IT
shares amid mixed global
trends. The 30-share BSE
Sensex declined by 361.64
points or 0.50 per cent to settle
at 72,470.30 with 20 of its com-
Rekha
Jhunjhunwala’s
holding in
individual
companies
Company
Tata Motors
NCC
Canara Bank
Indian Hotels Company
CRISIL
Titan Company
Tata Communications
Nazara Technologies
Metro Brands
Change over December 29, 2023; All figures in (~ cr)
added ~1,184 crore in her total
portfolio gain. Shares of Indi-
an Hotels rallied 27 per cent,
while Tata Communications
gained 9 per cent and Titan
Company nearly 1 per cent
during the period. Analysts
are bullish on Tata group sto-
cks and expect them to gain
further. Kishor Ostwal, man-
aging director at CNI Res-
earch, expects value unlock-
ing across the group
companies.
“Tata group companies
have high intrinsic value.
There are reports of Tata Sons
getting listed as well; whether
that happens is still anyone’s
guess. I see a lot of value
unlocking across most Tata
group companies, especially
in Tata Motors, Tata Power,
Tata Chemicals and Indian
Hotels,” Ostwal said.
Besides Tata Group com-
panies, NCC (~577 crore),
Canara Bank (~508 crore), and
CRISIL (~266 crore) added
more than ~250 crore in her
total portfolio gain. These
stocks have rallied between 15
per cent and 42 per cent.
Of the top 10 companies in
Rekha Jhunjhunwala’s port-
folio, eight have given positive
ponents ending in the red and
10 in the green. During the day,
it fell by 468.91 points or 0.64
per cent to 72,363.03 points.
The broader Nifty of NSE
declined 92.05 points or 0.42
per cent to 22,004.70 as 30 of
its constituents dropped and 20
advanced. Among Sensex
shares, PowerGrid fell the most
by 2.07 per cent. HDFC Bank
declined 1.11 per cent, contrib-
uting over 106 points to the
total fall in Sensex. Reliance
March 22,’23 Gain/loss
5,842 1,183
1,947 577
2,152 508
1,673 357
2,001 266
17,683 158
1,008 80
439 -104
1,464 -183
Sources: CapitalinePlus, BSE
returns. Metro Brands and
Fortis Healthcare recorded
negative returns of 11 per cent
and 4 per cent, respectively.
The figures are based on
Rekha Jhunjhunwala’s hold-
ings in companies where her
stake is more than one per
cent (as publicly declared to
exchanges), according to
information sourced from
CapitalinePlus’s database at
the end of the October-
December quarter.
Meanwhile, Dolly
Khanna’s net worth grew
6.5 per cent from ~401 crore to
~427 crore in CY24 (as on
March 22). Chennai Petroleum
Corporation (CPCL), which
accounts for 40 per cent, or
~172 crore of Khanna’s portfo-
lio, added ~36 crore in her
overall portfolio gain.
Vijay Kedia, who has
investments in Atul Auto,
Elecon Engineering, Tejas
Networks, and Vaibhav
Global, have seen their net
worth erode 9 per cent, or ~115
crore, to ~1,126 crore.
Anil Kumar Goel and
Seema Goel have collectively
seen their net worth erode
13 per cent, or ~267 crore, to
~1,868 crore.
Industries fell 0.88 per cent,
adding over 77 points to the fall.
IT major Wipro dropped 1.5 per
cent, Infosys by 1 per cent and
TCS by 0.92 per cent and were
a major drag on key indices.
Kotak Mahindra Bank,
UltraTech Cement, and Asian
Paints were also among the los-
ers. Bajaj Finance, NTPC,
Larsen & Toubro, Axis Bank,
Tata Motors, IndusInd Bank,
and Bajaj Finserv were among
the gainers.
the Association of Mutual
Funds in India (Amfi). This
represents a 28.9 per cent
increase over March 2023. The
increase comes after two
straight years of decline.
Some of the changes may
be attributed to market move-
ments. The S&P BSE Sensex,
an index whose movements
are considered broadly indi-
cative of stock market per-
formance, was up 22.9 per cent
for the current financial year
(FY24) as of February. It was
up less than one per cent year-
on-year (Y-o-Y) in March 2022.
The Securities and
Exchange Board of India (Sebi)
requires those running mutual
funds to invest money in their
own funds as part of having
‘skin-in-the-game’, or aligning
their interests with investors.
Mutual funds may have an
incentive to take aggressive
positions to enhance short-
term returns, according to a
IPO mop-up rises 20%
to ~62,000 cr in FY24
SUNDAR SETHURAMAN
Mumbai, 26 March
Equity fundraising through
initial public offerings (IPOs)
rose 20 per cent during the
financial year 2023-24 (FY24).
During the period, 76 Indian
corporates raised ~61,915 crore
through main board IPOs,
compared to ~52,116 crore mob-
ilised by 37 IPOs in 2022-23, as
disclosed by PRIME Database.
However, if one excludes
the mega Life Insurance Corp-
oration (LIC) IPO, which came
out in 2022-23, IPO mobili-
sation increased by 58 per cent
from last year. The ~21,008-
crore IPO of LIC came in May
2022. Among the mainboard
IPOs, Mankind Pharma was
the largest with ~4,326 crore,
followed by JSW Infrastructure
at ~2,800 crore. The smallest
IPO was that of Plaza Wires,
which raised ~71 crore. The
average deal size reduced sig-
nificantly from ~1,409 crore in
FY23 to ~815 crore in FY24.
Overall, equity fundraising
jumped 2.4 times to ~1.86 tril-
lion in FY24 from ~76,911 crore
in the previous financial year.
The sharp rise was under-
pinned by the rally in stock
prices across the board.
Companies from multiple
sectors were able to tap the
IPO market in FY24. The tra-
ditionally dominant financial
sector, however, demon-
strated restrained activity,
raising ~9,655 crore, which
accounted for less than a fifth
20,000
0 1.5
Mar Mar
‘19 ‘20
*Contribution of sponsors and associates
Source: Amfi, Business Standard calculations
note to the regulator’s board
meeting in July 2021. Many
mutual fund employees also
have a bonus component and
equity in the asset manage-
ment company (AMC) run-
ning the mutual fund to align
employee interest with that of
shareholders.
“In the short term, the inter-
ests of shareholders of the AMC
may not be aligned with
the interests of the unit holders.
Thus it becomes important to
have mechanisms to
align the interest of the AMC
and its employees with the
interest of the unit holders...
AMOUNT RAISED
VIA IPOs* (~ cr)
67,753
1,20,000
1,205
FY14 FY24
LARGEST IPOs OF
FY24
4,326 3,043
Mankind Tata
Pharma Tech
*Includes SME IPOs
Source: PRIME Database
of the total capital raised.
New-age technology firms
were also few, with just three
IPOs hitting the market.
Pranav Haldea, managing
director of PRIME Database
Group said there was an enthu-
siastic response to most of the
IPOs. Of the 75 IPOs for which
response data is available,
54 IPOs were subscribed more
than 10 times, out of which
22 IPOs were subscribed more
than 50 times while 11 IPOs
were subscribed more than
three times. The other 10 IPOs
schemes
1.7 2.0
Exchange
traded fund
Fund-of-funds
Mar Mar Mar Feb
investing overseas
‘21 ‘22 ‘23 ‘24
Note: Shows allocations to various scheme categories across all mutual funds
(the) concept of AMC/sponsor
making investment in the
scheme, is to have...skin in the
game,” said Sebi.
The value of these invest-
ments was ~83,385 crore in
March 2019. They accounted
for 3.4 per cent of the total
assets under management at
the time. The amounts inv-
olved have been going up since,
even as the share of assets has
been declining. In March 2022,
the contributions made up 2.2
per cent of the total assets and
remained under 2 per cent in
March 2023 and February 2024
(latest data available). Mutual
were oversubscribed between
1 to 3 times. The response of
retail investors was also higher
compared to the previous
financial year.
The average number of
80,000 retail applications rose to
1.3 million from about 0.6 mil-
40,000 lion in the previous financial
year. The highest number of
0 retail applications was for the
Tata Technologies IPO (5.2 mil-
lion), followed by DOMS
Industries (4.1 million) and
INOX India (3.7 million).
(~ cr) The response was due to
strong post-listing perform-
ance. The average listing gains
2,800 rose to 29 per cent in FY24
against 9 per cent in the pre-
vious financial year.
Of the 75 IPOs, 48 gave a
return of over 10 per cent.
JSW Vibhor Steel delivered the big-
Infra gest day-one pop of 193 per
cent, followed by BLS
E-Services (175 per cent) and
Tata Technologies (163 per
cent). Over 50 of the 75 IPOs are
currently trading above the
issue price with an average
return of 65 per cent.
In FY24, 96 companies filed
their offer documents with the
market regulator Securities
and Exchange Board of India
(Sebi), up from 75 in the pre-
vious financial year. However,
37 companies planning to raise
~59,000 crore let their approval
lapse, while two looking to
raise ~1,000 crore withdrew
their documents. Sebi returned
the offer documents of five
looking to raise ~2,500 crore.
510 1,943
117 132
funds managed ~54.5 trillion
worth of assets as of February.
The largest share of spon-
sor and associate investments
is held in debt funds. They
account for over ~76,000 crore.
Equity funds account for over
~12,200 crore, up 83.6 per cent
from March 2023. Debt fund
assets are up 21.2 per cent in
the same period.
Debt has traditionally been
a larger component of such
investments. But the latest
numbers show that the share
of equity has now exceeded 10
per cent.
The share of debt-oriented
Carlyle mulls $1 bn
IPO for Hexaware
Carlyle Group Inc is consider-
ing options for Indian infor-
mation technology firm
Hexaware Technologies,
including an initial public
offering (IPO) that could
raise $1 billion,
according to people
familiar with the
matter. The US invest-
ment firm is speaking
with potential arrangers
to help prepare for an IPO
in Mumbai this year or next,
the people said, asking not to
be identified because the
matter is private. A share sale
might value Hexaware at
$4 billion or more, they said.
At about $1 billion, it would
be the biggest IPO in the coun-
try since Life Insurance Corp.
of India’s in 2022, according to
data compiled by Bloomberg.
Bharti Hexacom sets IPO price
band at ~542-570 per share
Bharti Airtel's arm Bharti
Hexacom on Tuesday said it
has fixed a price band of ~542
to ~570 per share for its
~4,275-crore initial public
offering (IPO). The initial
share-sale of the telecom
operator’s arm will open for
public subscription during
April 3-5, and the bidding for
anchor investors will open for
a day on April 2, the company
said in a public notice.
This will mark the first
public offering in the financial
8,254 18,854 3,419 5,161
234 340 279 331
schemes fell from 93 per cent
in March 2019 to 85 per cent
in March 2023. Their share as
of February is 80 per cent. In
comparison, the share of
equity-oriented schemes has
risen from 6 per cent in March
2019 to 13 per cent in February.
Exchange-traded funds that
mimic returns of underlying
indices, made up 5 per cent of
the investments.
While balanced schemes,
which have a mix of debt and
equity components, account
for 1 per cent of the share,
funds investing overseas
make up less than 1 per cent.
That company’s shares
slumped initially but have
mostly recovered.
While an IPO is the pre-
ferred option for Hexaware,
alternatives include a stake
sale to an investment firm
or industry peer, the
people said.
Considerations are
preliminary and no
final decisions have been
made, the people said.
Details on aspects such as
size and value may change,
they said.
Carlyle declined to com-
ment. Hexaware provides IT
and business process out-
sourcing services, according
to its website. It also offers
cloud, data and artificial
intelligence services.
BLOOMBERG
year 2024-25. The company’s
IPO is entirely an offer-for-sale
(OFS) of 75 million equity
shares, indicating a 15 per cent
stake by Telecommunications
Consultants India Ltd, with no
fresh issue component. Since
it is an OFS, Bharti Hexacom
will not receive any proceeds
from the IPO. At present, pro-
moter Bharti Airtel holds 70
per cent stake and the remain-
ing 30 per cent stake is owned
by Telecommunications Con-
sultants India. PTI

THE COMPASS N IN BRIEFS N

PGIM India MF launches retirement fund
Strong outlook to support Cummins India stock PGIM India Mutual Fund on Tuesday launched the PGIM
India Retirement Fund. The equity-oriented scheme
DEVANGSHU DATTA due to primary pre-orders during FY23-26 with a return on equity Q2FY25. Companies are also will follow a multicap investment approach, ensuring
the energy transition phase, Base=100 (RoE) of 24 per cent and a return looking at export revivals. a minimum 25 per cent exposure to each of the
Genset manufacturer Cummins better pricing for CPCB (Central 200 on capital employed (ROCE) of The domestic demand largecap, midcap, and smallcap segments of the
India has seen its share price rise Pollution Control Board) IV+ Cummins India 180 23 per cent. But there is the policy
momentum is strong across low- market. The fund has a 5-year lock-in period. The
by 45 per cent in the past three gensets, up 20-30 per cent, and risk implicit in the focus on greento-mid kVA ranges, driven by fund house said the scheme aims to provide capital
months. The management has higher contribution from high energy. The implementation of manufacturing, hospitality, res- appreciation and income to investors in line with their
160
reaffirmed that growth would be horsepower (HHP) gensets. CPCB IV+ norms in July 2024 idential and commercial con- retirement goals by investing in a mix of securities
in double digits over the coming The distribution revenue rose could be a factor in the demand struction. Inventory will be comprising equity, equity related instruments, REITs and
140
two fiscal years. 26 per cent while the industrial shift and prices should stabilise in
mopped up by pre-buying in low- InvITs, and fixed income securities. The investment in non-equity assets will be
Growth is expected to be driv- segment was up by 20 per cent. 120 the next year as operating lever- to-mid kVA range ahead of the limited to 25 per cent of the portfolio. BS REPORTER
en by a pickup in domestic The company sold 3,000 CPCB age kicks in. Genset makers CPCB-IV implementation. Data
infrastructure spending. The
Q3FY24 net revenue rose 16 per
IV+ gensets in Q3, contributing
about 25 per cent to powergen
Sensex 100 appear braced for these changes. centres remain a key growth driv-
er for HHP gensets, which is ChrysCapital arm sells 2.9% in Mankind Pharma
cent Y-o-Y to ~2,530 crore, well revenue. Demand from markets Robust domestic demand growing faster. Between them, Beige, an affiliate of private equity (PE) firm ChrysCapital, on Tuesday offloaded
80
ahead of estimates, led by robust such as compressors, construc- Mar 31,‘23 Mar 26,’24 Currently, CPCB 2 products con- Kirloskar Oil Engines (KOEL), 11.6 million shares (2.9 per cent) stake in Mankind Pharma. The PE major shares
demand across sectors like data tion, and railways aided growth tribute 75-80 per cent of the gen- Cummins, and Mahindra in two equal tranches at ~2,125 and ~2,120 per share to mop up ~2,470 crore.
Source: BSE
centres (DC), real estate, infras- in industrials. set sales and the remaining Powerol hold 70 per cent of gen- Shares of Mankind rose 1.6 per cent to finish at ~2,248.8 on the BSE. Prior to the
Compiled by BS Research Bureau
tructure, and manufacturing. comes from CPCB IV/IV+ units. set market share by volume. stake sale the ChrysCapital affiliate held a 2.99 per cent stake in Mankind, accor-
The top line street-beat was Export contraction Inventory levels for CPCB 2 gen- Cummins is trading at 35 ding to the company's December 2023 quarter shareholding data. BS REPORTER
partly due to the execution of a The slowdown in the global Y-o-Y to ~330 crore in Q3FY24. sets will reduce sharply from times its price to earnings or PE
non-recurring large data centre
order. However, exports were
economy and geopolitical con-
flicts and inflation hurt exports.
The Red Sea crisis led to 2-4
week delays in deliveries. As per
April 2024 onward as production while Kirloskar which has not
has stopped. Demand may see seen much recent share price StanChart offers 7.5 mn shares in CDSL
weak due to global factors. Revenue from the EU fell management, there are early minor disruptions during the movement is trading at 19 times. Standard Chartered Bank is offering up to 7.5 million shares in Central
Domestic revenue rose 59 per cent Y-o-Y, the West Asia signs of recovery visible post-Q3, elections. But underlying growth The valuation difference is sig- Depository Services India (CDSL) in a placement, according to terms of the deal
36 per cent Y-o-Y to ~2,180 crore. dropped by 53 per cent, the US and the global market could be drivers remain intact. Pricing is nificant. Given a positive out- obtained by Bloomberg News. The floor price has been set at ~1,672 apiece,
Segment-wise, the powergen by 47 per cent, other regions by bottoming out. higher by 20-40 per cent and look for the sector, KOEL could representing a discount of 6.5 per cent to the last close of ~1,788.9. Standard
revenue rose 51 per cent Y-o-Y, at least 20 per cent. Overall, Analysts project annual earn- there’s enough pricing power to see a pickup while Cummins Chartered will no longer own a CDSL stake after the deal. JPMorgan is the sole
led by 20 per cent volume growth export revenue fell 40 per cent ings growth of 19 per cent over pass it onto customers from remains on the radar for bulls. broker on the transaction. BLOOMBERG
>
MUMBAI | WEDNESDAY, 27 MARCH 2024 THE SMART INVESTOR 11

Export recovery, higher LONG-DURATION FUNDS

Investor timeline: 6-12 months for

chemical prices spur SRF
RAM PRASAD SAHU
Mumbai, 26 March
S
hares of SRF, the country’s
largest specialty chemicals
player, hit a 10-month high
last week on expectations that
recovery in exports, amid rising
prices, could aid sales revival.
Given expectations of higher
realisations across its main
segments, some brokerages
have upgraded the stock.
The company’s gross export
revenues were ~469 crore in
February, indicating a strong
sequential increase.
Monthly average exports
were higher by 43 per cent on a
sequential basis on the back of
a recovery in specialty chemi-
cals supply and a seasonal
uptick in refrigerant gas sales.
While specialty chemicals
saw a monthly average export
growth of 27 per cent on a
sequential basis, refrigerant
gases saw a growth of 63 per
cent. Factoring in the visible
recovery in both specialty chem-
icals and refrigerant gases (par-
ticularly in the US) as well as the
ongoing capex execution, Surya
Patra of PhillipCapital Research
has upgraded the rating on the
company to ‘buy’ from ‘neutral’.
The brokerage has rolled for-
ward its valuations to FY26, val-
uing the company at ~2,700 per
share. Rise in prices of major
hydrofluorocarbon (HFC) refrig-
erants in China since the start of
the year is another trigger.
The price of R32, for exam-
ple, is up 45 per cent.
The increase seems consis-
tent with the thesis that a pro-
duction freeze in China in 2024
— mandated under the
Montreal Protocol — will lead to
firming up of HFC prices in the
coming months and years.
Analysts led by Abhijit Akella
of Kotak Research said,
“Regulatory action by the US
against such shipments may
hasten the process of HFC price
TAKING STOCK continued inventory rationali-
SRF Ltd Sensex
105
sation and lower realisation for
refrigerant gas in the seasonally-
104.0 weak quarter.
Base = 100 Another positive for the com-
100 pany is that the prices of biax-
ially oriented polypropylene
(BOPP) film are up 10 per cent
95 month-on-month (M-o-M) and
100.3 could reflect on its packaging
films business. The segment had
90
accounted for 36 per cent of its
revenues in the December
85 quarter.
Dec 29,’23 Mar 26,’24 The packaging business was
hit the most in the December
quarter as segment level profits
increases, which are anyway slid 42 per cent on a sequential
expected as the world supply- basis. The company had indi-
demand tightens. SRF, as the cated that the business con-
largest producer of HFCs in tinued to face supply overhang
India by far, would be the key which resulted in pressure on
beneficiary.” margins. The demand-supply
During the December imbalance and margin
quarter, the fluorochemicals pressures would be key
business witnessed sluggish monitorables in the near and
demand and pressure on mar- medium terms.
gins mainly due to lower vol- Sharekhan Research has
umes and realisations in key maintained a ‘buy’ with an
global markets. unchanged target price of ~2,745.
The chemical segment’s SRF is a quality player and its
revenue fell by 2 per cent investment in specialty chemi-
quarter-on-quarter (Q-o-Q) cals provides strong long-term
while segment margins declined earnings growth prospects, says
130 basis points (bps). This is the brokerage. Valuation, too,
given the headwinds for spe- seems reasonable at 24 times its
cialty chemical business due to FY26 earnings per share, it adds.
tactical, 10+ years for long term
SANJAY KUMAR SINGH AND KARTHIK JEROME
Long-duration funds have
outperformed all other debt fund
categories over the past year,
delivering an average return of 9.8
per cent. Investors need to
understand the risks in these funds
and choose an appropriate
investment horizon.
Invest largely in G-Sec
According to the Securities and
Exchange Board of India (Sebi)
regulations, these funds must have
a duration of more than seven years.
“Most of these funds invest a
major percentage of their portfolios
in government bonds or in state
development loans (state
government securities) as
corporates in India generally do not
issue significant amounts of
long-dated bonds,” says Devang
Shah, co-head of fixed income, Axis
Mutual Fund.
Softening yields
The macroeconomic
indicators have improved
over the last couple of
years. “We have seen good
numbers on both inflation,
especially core inflation,
and current account
deficit. The government YOUR
seems committed to bring
the fiscal deficit down
MONEY
REPORT CARD
Corpus Returns (%)
(~ crore) 1-year 3-year 5-year
Nippon India Nivesh Lakshya Fund 7,258.4 9.6 5.9 8.4
HDFC Long Duration Debt Fund 2,053.5 10.2 NA NA
SBI Long Duration Fund 1,402.8 10.5 NA NA
ICICI Prudential Long Term Bond Fund 732.6 9.1 5.2 7.1
UTI Long Duration Fund 77.6 10.3 NA NA
Greater than or equal to 1-year returns are compound annualised. Returns are of direct plans.
Data as on March 22, 2024 Source: Navigation RA
multiplier effect and led to mark-to- their capital losses in such a
market (MTM) gains in these funds. scenario.
Outlook remains positive Who should invest?
Fund managers are bullish on Two categories of investors may
interest rate cuts. “The Reserve invest in these funds. “The first is
Bank of India (RBI) in its monetary informed tactical investors keen to
policy report forecasted that next play the interest-rate cycle who are
year’s (2024-25) inflation would be prepared to exit once the cycle
4.5 per cent. The repo rate is turns,” says Vishal Dhawan, chief
currently at 6.5 per cent. The 10-year financial planner, Plan Ahead
government bond yield is still above Wealth Advisors.
7 per cent. Our house view is that These investors should be
interest rates should trend mindful that if they get their entry
lower,” says Shah. He and exit timings wrong, they could
expects the 10-year bond end up with losses. The second
yield to trend towards the category would comprise investors
6.5 to 6.75 per cent level who expect interest rates to decline
over the next 12-18 months. over the long term, albeit at a slow
The global scenario is also pace. “Besides a long horizon, they
positive. “The rate cycle for should be prepared to put up with
most global central banks intermittent volatility,” says
has peaked with a good
probability that many will
Dhawan. Sen says while tactical
investors should have an investment

Front-running case: Sebi bans two persons from securities market
The Securities and Exchange Board of India
(Sebi) on Tuesday barred two individuals
from the securities market for three years
and imposed a penalty of over ~77 lakh on
them for their involvement in front-running.
Front-running refers to an illegal practice
in the stock market where an entity trades
based on advanced information from a
broker or analyst before the information
has been made available to its clients. Those
restrained by the Sebi are — Rohit Mankotia,
who was employed in Radico NV Distilleries,
and his mother Shila Devi.
Further, Mankotia was on deputation to
Sapphire Intrex Ltd (Big Client) and his
work is related to technical analysis
of stocks for Sapphire. Sapphire is
the promoter of Radico Khaitan
Ltd (RKL) and held 33.95 per cent
equity shares of RKL, according
to Sebi order.
Additionally, the two persons
have been directed to disgorge ~38.8
lakh within 45 days and the same will be
credited into the Investor Protection and
Education Fund.
In its order, Sebi found that Mankotia
while having access and possession of infor-
mation about impending trades of the Big
client, executed trades in NSE equity seg-
ment and NSE equity derivative seg-
ment from the account of his mother
Shila Devi based on impending
orders of the big client. Shila Devi
aided and abetted Mankotia in
implementation of such a scheme
as she did not raise objection to the
use of her account for front running
and accordingly, they committed fraud and
violated the provisions of PFUTP
Regulations. Sebi conducted a probe into
trading activities of the two individuals dur-
ing July 2021 to June 2022 to ascertain viola-
tion under the Prohibition of Fraudulent and
Unfair Trade Practices) rules. PTI
from the Covid highs. All
these factors have contributed to
bringing the 10-year yield lower
during the year,” says Pranay Sinha,
senior fund manager-fixed income,
Nippon India Mutual Fund.
On the international front, going
by the Federal Reserve’s utterances,
it appears that US interest rates have
peaked. Indian government bonds
also stand to gain from inclusion in
the JP Morgan bond indices. Rate
cuts are expected to begin in the
second half of this calendar year.
Bond market yields have rallied 25
to 35 basis points over the past year
in anticipation. The high duration
of long-duration funds has had a
start the rate-cutting cycle
this year,” says Sinha.
As yields soften, long-duration
funds could register further MTM
gains.
Risks over medium term
The rate cut cycle, which is expected
to last for six months to one year,
could be a shallow one of 50 to 75
basis points. “Once this rate cut
cycle gets over, the cycle could
reverse sometime in the future.
Whenever interest rates move up,
this category will underperform,”
says Joydeep Sen, corporate trainer
(debt markets) and author. The high
duration of these funds will amplify
horizon of around six months to one
year, long-term investors should
stick around for 10 years or more.
Investors need to understand the
nuances of the debt market before
they venture into these funds.
“They need to understand
where the high returns in these
funds have come from and not
invest based on past year’s returns
alone. They should also choose an
appropriate horizon when
investing in them,” says Sen. When
selecting a fund, Dhawan suggests
going for one whose fund manager
has navigated multiple interest-rate
cycles and whose expense ratio is
on the lower side.

— TENDER CARE — — Advertorial

KVB INAUGURATES THE MV RAO ELECTED CHAIRMAN OF IBA

OPERATION OF 84TH ATM
Central Bank of India MD and CEO MV Rao was elected as the
Karur Vysya Bank inaugurated the Chairman of The Indian Banks Association (ABA). IBA
operation of 84th ATM in Madurai Managing Committee met on Thursday and State Bank of India
Division at First Garments Company Chairman Dinesh Kumar, Indian Bank MD, CEO SL Jain, City
premises operating at Aruppukkottai Union Bank MD, CEO N. Kamakodi was elected as the Vice-
Main Road, Valayangulam. First Chairman. Bank of Bahrain and Kuwait Country Head and
Garments Company Managing CEO Madhav Nair has been elected as Honorary Secretary, IBA
Director Mr. Karthikeyan inaugurat- said in a statement.
ed the ATM in the presence
of Madurai Divisional Deputy
General Manager Mr. Chakravarthy.
Mr. Subramanian, Assistant General HOUSING PRICES RISE IN 43 CITIES
Manager and Mr. Balasubramanian, IN Q3 FY 2023-24: NHB
Chief Manager, Mr.Dinesh Kumar,
Chief Manager, Madurai Division.  All the 8 major metros (viz. Ahmedabad, Bengaluru,
Chennai, Delhi, Hyderabad, Kolkata, Mumbai & Pune)
witnessed appreciation in property prices.
HPCL'S TRIUMPH: A TRIUMPHANT
43 cities registered growth in indices during Q3 FY 2023-24.
SWEEP AT THE 10th PSU AWARDS
BY GOVERNANCE NOW
50 City composite HPI based on Valuation prices increased
by 4.7% on Y-o-Y basis.

Quoted prices for under-construction and ready to move

unsold properties registers improvement on a Y-o-Y basis.

India’s eight key primary residential markets witnessed appre-

In a resounding testament to its unwavering commitment to
excellence, Hindustan Petroleum Corporation Limited (HPCL),
a Maharatna Oil and Gas PSU, has emerged victorious at the
esteemed 10th PSU Awards by Governance Now, clinching an
extraordinary trifecta of accolades.
HPCL's stellar performance was duly recognized across three
distinct categories:
Investment in Start-up Award: A glowing tribute to HPCL's
pioneering spirit and unwavering support for innovation,
reaffirming its pivotal role in nurturing India's burgeoning
startup ecosystem.
HR Excellence (Overall) Award: An illustrious acknowl-
edgment of HPCL's relentless pursuit of fostering a world-
class workforce through exemplary human resource practices,
setting a benchmark for excellence in the industry.
Communication Leadership Award (Presented to
ED-CSR & PR & CC): A well-deserved accolade, underscor-
ing HPCL's prowess in communication strategies and its
outstanding leadership in fostering meaningful engagement
with stakeholders, thus amplifying its impact on society.
The Governance Now PSU Awards serve as a beacon,
recognizing the indelible contributions of Public Sector
Undertakings in nation-building. HPCL stands at the pinnacle
of this recognition, deeply honored to receive these prestigious
awards. They symbolize not only HPCL's dedication to fulfill-
ing the energy needs of the nation but also its unwavering
commitment to driving progress and prosperity on a grand
scale.In this moment of triumph, HPCL reaffirms its steadfast
resolve to continue leading the charge towards a brighter,
more sustainable future for India and beyond.
ciating property prices during the period Oct-Dec 2023.
Ahmedabad (4.7%), Bengaluru (7.1%), Chennai (3.8%), Delhi
(2.8%), Hyderabad (6.3%), Kolkata (7.2%), Mumbai (3.0%) &
Pune (4.8%) recorded increase in the index on an annual
basis as per the Housing Price Index published by National
Housing Bank.
The 50 city HPI based on valuation prices of properties
collected from Banks and Housing finance companies (HPI @
Assessment Prices) recorded an annual increase (Y-o-Y) of
4.7% during the 3rd quarter of the fiscal 2024 as compared
with 7.1% a year ago.
The annual change in HPI @ Assessment Price varied wide-
ly across the cities – ranging from an increase of 19.9%
(Chandigarh) to a decline of 13.3% (Navi Mumbai).
Out of the 50 cities covered, 43 registered an increase in
property prices whereas 7 cities registered a decline in the
property prices.
On a sequential (Q-o-Q) basis, the 50-city index registered an
expansion of 1.3% in Oct-Dec 2023, similar to the previous
quarter figures. The index is showing an increasing trend on
Q-o-Q basis since Sep-21.
The index recorded increase in 46 cities out of 50 cities with
Chandigarh recording the highest sequential increase of 6.7%,
followed by Noida (5.1%), while Bhopal, Indore, Kochi and
Raipur recorded sequential decrease in the HPI @
Assessment Price during the quarter (Kochi recording the
maximum decline of 2.1% followed by Raipur at 1.5%)
On the supply side, the 50 city HPI based on the quoted
prices for under construction and ready to move unsold
properties (HPI @ Market Price for Under Construction
Properties), also recorded an annual increase (Y-o-Y) of
10.3% in QE Dec 2023 as against 10.8% a year ago.
The annual variation in HPI @ Market Price ranged from an
increase of 26.0% (Bengaluru) to a contraction of 1.8%
(Kochi).
On a sequential (Q-o-Q) basis, the 50 city Index witnessed an
increase of 2.7% during the quarter, as against 2.3% in
previous quarter.
12 STOCKS
>
MUMBAI | WEDNESDAY, 27 MARCH 2024 1
IN THE
> STOCK
> Apar Industries > InterGlobe Aviation > Max Healthcare Institute

NEWS Top Gainer

among BSE500
Hits new all-time
high at ~3,509
Volume jumps
35x over 2-week OF THE DAY
companies on BSE average on BSE Bosch
~6,346.4 PREVIOUS CLOSE ~3,285.5 PREVIOUS CLOSE ~739.5 PREVIOUS CLOSE Hits new all-time high at
~7,053.2 CLOSE ~3,492.2 CLOSE ~775.8 CLOSE ~30,771; Surged 40 per cent
p 11.1% UP p 6.3% UP p 4.9% UP in last 3 months

NIFTY 50
Company Close (~) % Wt PE Company Close (~) % Wt PE
ADVANCES/DECLINE F&O SNAPSHOT DAY’S TOP GAINERS DAY’S TOP LOSERS
26 Mar ’24 Chg (%) Con Std 26 Mar ’24 Chg (%) Con Std Futures Cash Premium Futures Cash Discount Company Day’s high Close % chg* 3mth high 52 wk high Company Day’s low Close % chg* 3mth low 52 wk low
Adani Enter 3110.0 0.1 1.0 100.9 141.3 ITC 427.7 -0.2 5.3 27.8 26.1 price price (%) price price (%)
Adani Ports 1304.2 1.8 1.0 39.0 215.5 JSW Steel 821.9 -0.4 1.1 18.0 20.4 Dr Lal PathLabs 2278.4 2268.1 6.6 2663.9 2766.9 Swan Energy 643.6 650.6 -2.2 437.8 193.0
MOST BULLISH MOST BEARISH
Apollo Hosp 6322.5 -0.8 0.6 111.0 91.0 Kotak Mah Bank 1753.7 -1.3 2.6 20.0 26.5 InterGlobe Avia 3509.4 3492.2 6.3 3509.4 3509.4 Delta Corp 117.0 117.6 -2.2 117.0 117.0
Asian Paints 2814.7 -0.9 1.3 49.7 50.5 Vodafone Idea 13.4 13.3 0.8 Muthoot Finance 1456.3 1483.2 -1.8 Hind Copper 285.8 283.0 5.2 306.8 306.8 Zee Enter 138.6 139.5 -2.1 138.4 138.4
L&T 3670.1 1.4 5.0 39.9 52.3
Axis Bank 1040.6 0.7 2.9 29.7 26.8 Laurus Labs 400.3 397.7 0.7 HDFC AMC 3778.8 3810.9 -0.8 Oil India 615.1 611.3 5.1 647.4 647.4 Power Grid 266.4 270.0 -2.1 226.1 164.1
LTIMind 4975.2 -0.6 0.5 32.1 32.9
Biocon 259.4 257.7 0.7 REC 458.1 461.4 -0.7 Reliance Power 27.6 27.6 5.0 33.1 33.1 Godrej Cons 1193.2 1199.4 -2.0 1076.0 896.9
Bajaj Auto 8960.6 0.2 1.1 34.3 36.4 Mah & Mah 1864.0 -0.8 1.9 22.5 22.7 Metropolis Heal 1664.4 1654.2 0.6 Grasim Ind 2237.1 2240.1 -0.1 Zomato 183.5 182.6 4.9 183.5 183.5 Ind Ove Bank 58.3 58.4 -1.8 42.1 20.9
Bajaj Fin 6910.1 2.2 1.9 37.2 35.4 Maruti Suzuki 12250.6 -0.7 1.6 46.9 32.2 LTIMindtree 5005.8 4975.2 0.6 United Brew 1711.2 1712.9 -0.1 Indus Towers 286.1 283.7 4.8 286.1 286.1 Eicher Motor 3907.4 3911.4 -1.8 3564.0 2836.0
Bajaj Finsrv 1593.9 0.4 1.0 32.6 217.0 Nestle India 2586.1 0.5 0.9 - 83.2
Bharti Airtel 1213.1 -1.9 3.1 81.7 151.8 Enginers Ind 209.6 206.0 4.8 273.8 273.8 Adani Power 519.4 521.9 -1.7 501.7 166.3
NTPC 329.1 1.3 1.6 18.9 17.5 BSE NSE Oracle Fin 8810.0 8765.4 4.7 8810.0 8810.0 Trent 3865.5 3882.2 -1.7 2942.2 1287.4
BPCL
Britannia
599.9
4961.5
1.2 0.6 61.1 4.5
2.0 0.6 55.3 56.6
ONGC 265.5 0.9 1.4 9.4 11.3 Index Stock Index Stock PUT-CALL RATIO Max Fin Sre 1004.9 986.9 4.4 1010.5 1069.2 Bank of India 133.2 133.5 -1.7 110.2 67.0
Power Grid 270.1 -2.1 1.2 16.3 16.1 Alkem Labs 5014.7 5002.2 4.4 5519.1 5519.1 Infibeam Aven 34.6 34.8 -1.6 21.0 12.9
Cipla 1472.3 -0.6 0.8 32.1 35.0
Reliance Ind 2883.2 -0.9 9.9 27.9 43.7 FUTURE (Open Interest in Mn) Put Call PC Ratio
Coal India 436.0 0.9 1.0 9.1 17.3 Contracts 495 - 413563 3489438 Rail Vikas Niga 267.8 260.5 4.3 345.6 345.6 Central Bank 58.2 58.3 -1.6 48.7 22.3
SBI 740.1 -0.9 2.8 10.4 11.6 Market 2602.1 4953.3 0.5 HAL 3305.0 3300.5 4.1 3428.8 3428.8 Bharti Airtel 1211.2 1216.1 -1.6 998.5 738.7
Divis Lab 3391.0 -1.2 0.4 49.4 66.0 Open Int.(000) 3 0 24903 9762227
SBI Life Ins 1486.4 -1.0 0.7 - 80.0 Muthoot Finance 1495.8 1481.0 4.0 1537.4 1537.4 HFCL 90.3 90.6 -1.6 81.2 55.8
Dr Reddys 6134.9 -1.1 0.7 19.6 25.7 Shares(In Mn) - - 14.1 6323.2 Top 5 PC Ratio Bottom 5 PC Ratio
Sun Pharma 1598.1 -0.7 1.7 43.1 395.4 Gujarat Gas 552.7 549.4 3.9 620.6 620.6 YES Bank 23.5 23.5 -1.5 20.5 14.1
Eicher Motor 3911.1 -1.9 0.5 27.9 30.5 Value(~ crore) 36 - 37685 292082
Tata Consumer P 1112.6 -0.9 0.7 88.2 97.7 IndusInd Bank 1.0 MRF 0.2
Grasim Ind 2240.1 0.7 0.8 21.6 99.7 OPTIONS * Ranked on the basis of percentage gain/loss on previous close
Tata Motors 986.2 0.7 1.8 16.9 38.7 Indus Tower 1.0 Abbott India 0.3
HCL Techno 1562.3 0.3 1.7 27.0 36.1 Contracts 2392330 - 404228587 5854678
Tata Steel 152.4 0.4 1.3 - 43.1 Maruti Suzuki 1.0 NTPC 0.3
HDFC Bank
HDFC Std Life
1425.4
626.9
-1.2 10.8 23.5 19.2
0.5 0.7 98.5 89.0 TCS 3877.5 -0.9 3.9 31.3 33.4
Open Int.(000)
Shares(In Mn)
2253
-
- 626712
- 13856.9
6928632
7192.0
Bajaj Fin 1.0 Ipca Labs 0.3 MOST TRADED TOP M-CAP TRENDS
Tech Mahindra 1254.4 -0.7 0.8 43.5 53.8 ABB India 0.9 Torrent Phar 0.3
Hero MotoCorp 4671.2 -0.3 0.6 33.2 24.5 Value(~ crore) 175188 - 33360329 519316 Value Volume Rank Company Mcap (~ cr) Company % change Company % change
Hindalco 558.7 2.0 0.8 12.4 40.3 Titan Company 3698.2 -0.2 1.5 101.0 94.0 BSE+NSE BSE+NSE
UltraTech 9600.7 -0.8 1.1 43.2 44.3 1 Reliance Ind 1951326.5 BS200 DOWN 7 DAYS
HUL 2240.0 -0.7 2.0 52.0 51.3 (~ crore) (Mn shrs)
ICICI Bank 1083.7 -0.6 7.6 22.4 19.4 UPL 465.4 -1.0 0.2 - 33.1 ACTIVE CALLS ACTIVE PUTS HDFC Bank 4216.1 29.5
2
3
TCS
HDFC Bank
1402773.6
1083958.9 UP 7 DAYS Koura Fine -28.7
IndusInd Bank 1518.7 0.4 1.0 - 13.7 Wipro 479.9 -1.5 0.7 22.2 28.1 Expiry Strike Traded Open % Chg Expiry Strike Traded Open % Chg Tata Invest -28.7
Mankind Pharma 3538.7 16.5 4 ICICI Bank 761160.3 Oberoi Relty 12.8
Infosys 1492.7 -1.1 5.4 25.4 25.1 Nifty 50 22004.7 -0.4 100.0 25.0 29.6 MARKET OVERVIEW (In Million) Date Price Qty Interest (OI) (In Million) Date Price Qty Interest (OI)
IRFC 1963.2 134.4 5 Bharti Airtel 687686.0 UP 3 DAYS
Purshottam Inve -28.4
INDEX PE SHRS TRDS 1 YR Index Index 6 SBI 660465.0 Assoc.Cerami -27.9
Reliance Ind 1920.5 6.7 Enginers Ind 18.0
S&P BSE SENSEX AGGREGATES C/S MN ‘000 ADV DEC RETURN Nifty Finance
Nifty Finance
26/03/24
26/03/24
20750
20700
1256.3
833.9
12.7
6.6
4308.1
1228.4
Nifty Finance
Nifty Finance
26/03/24
26/03/24
20700
20650
1555.4
692.2
15.4
6.7
1010.5
691.2
SBI 1537.7 20.8
7
8
Infosys
LIC India
619474.2
567573.9 Reliance Power 15.7
Smifs Cap -25.8
SENSEX 25.8/30.2 30.6 240 10 20 26.0 Axis Bank 1527.4 14.7 U H Zaveri -25.6
Asian Paints 2813.5 -1.0 1.5 49.6 50.5 Maruti Suzuki 12256.0 -0.7 1.9 46.9 32.2 Nifty Finance 26/03/24 20800 706.2 8.9 513.2 Nifty Finance 26/03/24 20750 630.6 3.8 333.9 9 ITC 533521.7 IREDA 11.8
Axis Bank 1040.8 0.7 3.5 29.7 26.8 NIFTY 50 25.0/29.6 328.4 6954 20 30 29.9 ICICI Bank 1493.6 13.8 EMA India -24.9
Nestle India 2587.9 0.5 1.1 - 83.2 C = CONSOLIDATED; S = STANDALONE Nifty Finance 26/03/24 20850 385.5 5.1 416.7 Nifty Finance 26/03/24 20600 511.9 5.5 293.5 10 HUL 526474.9 Dr Lal PathLabs 11.0
Bajaj Fin 6910.4 2.2 2.3 37.2 35.4 NTPC 329.2 1.3 1.8 18.9 17.5 Nifty Finance 26/03/24 20900 306.6 3.3 198.3 Nifty Finance 26/03/24 20550 291.8 3.0 144.0 Indus Towers 1486.8 53.0 11 L&T 504475.9 UP 3 DAYS
HAL 10.7
Bajaj Finsrv 1593.4 0.4 1.2 32.6 217.0 Power Grid 270.0 -2.1 1.4 16.3 16.1 CASH DERIVATIVES Stock Stock TCS 1419.4 3.6 12 Bajaj Fin 427750.7 Onelife Cap 72.4
Bharti Airtel 1216.1 -1.6 3.6 81.9 152.2 TURNOVER BSE NSE BSE NSE Nat Alum 10.3
Reliance Ind 2884.2 -0.9 11.6 27.9 43.7 Vodafone Idea 28/03/24 14 135.9 137.8 7.6 Vodafone Idea 28/03/24 13 41.2 58.8 -11.0 IndusInd Bank 1384.3 9.1 13 HCL Techno 424197.8 The Hi-Tech Gea 42.9
HCL Techno 1563.2 0.3 1.9 27.0 36.1 SBI 740.1 -0.9 3.3 10.4 11.6 Vodafone Idea 28/03/24 13 89.6 55.2 -17.3 Tata Steel 28/03/24 150 29.8 11.7 -2.3 14 Maruti Suzuki 385327.1 Zomato 10.2
VALUE(IN ~ CRORE) 8467 98458 175225 34209412 Bharti Airtel 1361.0 11.1 10Ard 33.1
HDFC Bank 1426.9 -1.1 12.7 23.6 19.2 SHARES(IN MN) 715.4 3458.5 - 27386.2 Vodafone Idea 28/03/24 15 83.6 120.7 -7.6 Vodafone Idea 28/03/24 14 27.4 49.6 -10.9 15 Sun Pharma 383168.2 DOWN
Sun Pharma 1597.0 -0.7 2.0 43.0 395.1 Bajaj Fin 1349.1 2.0 Skipper 31.5
HUL 2240.7 -0.7 2.3 52.0 51.3 TRADES(000) 3332 32335 - 106105 GAIL 28/03/24 180 79.9 5.9 -45.9 PNB 28/03/24 120 21.1 9.6 -9.3 16 Adani Enter 354152.4 PAYTM -5.2
Tata Motors 986.1 0.7 2.1 16.9 38.7 Infosys 1282.3 8.6 Permanent Mg 26.4
ICICI Bank 1084.1 -0.6 8.9 22.4 19.4 Tata Steel 28/03/24 160 62.8 38.9 -12.4 Vodafone Idea 25/04/24 13 21.0 35.4 5.5 17 Kotak Mah Bank 348866.5
Tata Steel 152.3 0.2 1.5 - 43.1 Zomato 1194.2 66.9 Infibeam Aven -3.3 Hind Media 26.0
IndusInd Bank 1519.4 0.7 1.2 - 13.7 MARKET-CAP (~ CR) TRADED TOTAL 18 ONGC 333880.6
Infosys 1492.5 -1.1 6.3 25.4 25.1 TCS 3877.1 -0.9 4.5 31.3 33.4 Others
Rail Vikas Niga 1192.9 45.6 19 Titan Company 328499.3 Blue Cloud 24.1
Tech Mahindra 1253.8 -0.9 0.9 43.5 53.8 BSE 38,273,276 38,908,633
ITC 427.5 -0.2 6.2 27.8 26.0 UP 7 DAYS
JSW Steel 821.5 -0.6 1.3 18.0 20.3 Titan Company 3700.2 -0.2 1.8 101.1 94.1 NSE 37,876,854 38,523,135 SPURT IN VOLUMES Mah & Mah
L&T
1093.4
1068.5
5.8
2.9
20
21
Tata Motors
Axis Bank
327689.1
321175.5 PCS Techno 61.4
DOWN 3 DAYS
Medico Remedies -35.3
UltraTech 9600.4 -0.9 1.3 43.2 44.3 DERIVATIVES 25,550,802 25,550,802
Kotak Mah Bank 1755.0 -1.1 3.0 20.0 26.5 Company Days 2-week Avg Change Close *Price 22 NTPC 319214.4 Sindhu Trade 48.6
Jio Financial 987.3 28.5 Nagreeka Exp -22.1
L&T 3669.9 1.4 5.9 39.9 52.3 Wipro 479.8 -1.5 0.8 22.2 28.1 Volume Volume % price %chg 23 Adani Green En 294368.2
Mah & Mah 1863.4 -0.9 2.2 22.5 22.7 BSE SENSEX 72470.3 -0.5 100.0 25.8 30.2 TRADING ACTIVITY Maha Rubtech 633634.0 14415.7 4295.4 314.1 11.4
Kotak Mah Bank
Tata Motors
965.9
962.3
5.5
9.7
24 Avenue Supermar 292428.3
Yaan Enterprise 40.6 Loyal Text -16.7
C = Consolidated; S = Standalone Thirdwave Fin 40.6 Konark Syn -14.3
(~ crore) FIIs MF Raj Rayon Indus 403542.0 11336.2 3459.8 22.9 -1.7 25 Adani Ports 281694.4
Equity Debt Equity Debt HDFC Std Life 889.1 14.0 26 UltraTech 277152.5 Olympic Oil 40.6 Scilal -14.3
Net Net Net Net Mankind Pharma 16538844.0 473405.2 3393.6 2248.8 1.6 HAL 872.6 2.7 27 Asian Paints 269866.1 Inter Data Mgm 40.3
WORLD INDICES On 22 Mar -3871 -3545 - - Vishal Bearings 114012.0 5283.6 2057.8 163.1 14.0 InterGlobe Avia 864.4 2.5 28 Coal India 268633.4 PVP Ventures 39.2
Delta Ind Res
CRP Risk mg
-14.2
-14.2
On 21 Mar -1327 941 - - Globe Intl Carr 243000.0 11700.0 1976.9 47.5 -5.0 Tata Steel 862.5 56.7 29 Bajaj Finsrv 254219.0
Indices Close % Chg* Indices Close % Chg*
On 20 Mar -2243 2159 - - Deep Industries 6438061.0 329357.2 1854.7 304.6 4.8 30 Bajaj Auto 253814.2 (T+2) cycleStocks which rose/fell continuously
Avenue Supermar 855.7 1.9
Americas (Mar 25,24) Asia/Pacific (Mar 26,24) On 19 Mar 1351 -435 5931 264 Flexituff Vent 330480.0 17134.8 1828.7 43.1 10.0
S&P/ TSX Composite 21942.3 -0.2 Straits Times 3233.3 1.1 On 18 Mar -1167 -781 1430 -2593 Onelife Cap 2777257.0 220872.4 1157.4 24.7 20.0
Mar till date 30025 9812 31212 -23532
Nasdaq Composite
Dow Jones
16384.5
39313.6
-0.3
-0.4
Kospi
Stock Exchange of Thai
2757.1
1377.2
0.7
0.4 2024 till date 7914 50569 68518 -91472
Reliance Chm
Mohini Health
159058.0
273000.0
12709.8
27450.0
1151.5
894.5
201.6
52.3
5.7
-4.7
BOARD MEETINGS INTRA-DAY
Europe/Africa (Mar 25,24) Shanghai Se Comp 3031.5 0.2 Group Company included in the Time Director; are requested
DAX 18311.4 0.3 Kuala Lumpur Comp 1538.4 0.1 FIIS IN DERIVATIVES 52 WEEK NEW HIGHS/LOWS Company Choksi Labs: To Postal Ballot 2. To consider to take note of
Purpose consider and Notice E-voting and take on the same and
IBEX 35 10981.4 0.3 Jakarta Composite 7365.7 -0.2 Company Price Company Price Company Price Company Price
(~crore) Index Stock Index Index Stock approve 1. To period and record the res- notify your
CAC 40 8158.4 0.1 Taiwan Taiex 20126.5 -0.3 NET Net Fut OI Opt OI OI MARCH 27 Consider and other matters ignation of Ms. constituents
HIGH *TechNVision Ven . . . 1519.5 LOW Kabra Extrus . . . . . . . . 295.0
FTSE 100 7910.1 -0.1 Volatility (Mar 25,24) BS 200 *Torrent Pwer . . . . . . 1444.7 BS 200 *Magalam Org . . . . . . . 289.0 Aarey Drugs: approve the pursuant to Heta Shah accordingly.
On 22 Mar -18421 6257 0.2 3.7 3.5
Asia/Pacific (Mar 26,24) CBOE Dow Jones 12.5 14.9 *Bosch . . . . . . . . . . . 30770.9 *Cigniti Tech . . . . . . . 1299.9 HUL . . . . . . . . . . . . . . . 2222.0 *Nureca . . . . . . . . . . . . 283.0 Meeting of the appointment of which. from the post J Taparia Pr: To
On 21 Mar -33990 3907 0.3 3.1 3.5
Hang Seng 16618.3 0.9 CBOE S&P 500 13.1 -0.8 *Oracle Fin . . . . . . . . . 8810.0 *Sanghvi Mov . . . . . . 1290.0 *Tata Techno . . . . . . . 1020.0 *Rajesh Exp . . . . . . . . . 275.5 Board of Direc- Mrs. Abha Esab India: To of Company consider and
On 20 Mar 3171 2436 0.3 3.2 3.5
*Veritas . . . . . . . . . . . 1028.8 *Suraj Estate . . . . . . . . 262.5 tors of the Shastri (DIN: consider and Secretary and approve 1. To
Nikkei 225 40398.0 0.0 * Change over previous close On 15 Mar -4406 -797 0.2 4.2 3.5 *Dixon Tech . . . . . . . . 7284.9 *Delta Corp . . . . . . . . . 117.0
*Eyantra Ve . . . . . . . 963.9 *Gandhar Oil . . . . . . . . 210.7 Company is 00065772) as declare a Sec- Compliance approve the
On 14 Mar -13915 3428 0.2 2.8 3.4 *Siemens . . . . . . . . . . 5113.0 Others
*Chalet Hotels . . . . . . . 895.0 *Organic Recycli . . . . . 208.6 scheduled on Additional In- ond Interim Officer; 3. To notice of Postal
MAJOR INDICES Mar till date
2024 till date
-179551
-1190799
23538
2791
-
-
-
-
-
-
*InterGlobe Avia . . . . 3509.4
*Pidilite Ind . . . . . . . . 3010.0 *Salzer Elec . . . . . . . . . 888.0
Hawkins Cook . . . . . . 6050.0
*Paushakltd . . . . . . . 4464.0 Mold-Tek Techno . . . . . 180.4 27/03/2024 dependent Di- Dividend if any consider and Ballot 2. Any
*Last Mile Enter . . . . . . 841.9 Ambar Proteins . . . . . . 143.1 inter alia to rector of the to the Equity approve the other matter
Previous Close Open High Low Close Change % chng OI in number of contracts(million) *Cummins (I) . . . . . . . 2985.0 *Alkyl Amines . . . . . . 1870.0
*The Hi-Tech Gea . . . . 774.0 *Virat Ind . . . . . . . . . . . 133.6 consider and company w.e.f. shareholders of appointment of with the per-
*Colgate . . . . . . . . . . . 2761.0 Rolex Rings . . . . . . . . . 1791.2
approve Allot- 01st April 2024 the Company Company Sec- mission of the
S&P BSE Sensex 72,831.9 72,397.0 72,705.3 72,363.0 72,470.3 -361.6 -0.5 *Policy Bazar . . . . . . . 1210.0 *Jindal Stan . . . . . . . . . 717.5 Nilkamal . . . . . . . . . . . 1726.7 *Sterlite Tch . . . . . . . . . 112.3
ment of Equity 2. To take on for the finan- retary and chair
*Zydus Lifescien . . . . 1028.5 *Sudarsh Chem . . . . . . 630.1 *Vinati Org . . . . . . . . . 1551.0 *Aimco Pest . . . . . . . . . . 95.0
S&P BSE Sensex 50 23,174.4 23,059.3 23,151.0 23,040.7 23,086.0 -88.4 -0.4 S&P BSE SECTORAL INDICES *Jindal Steel . . . . . . . . . 867.0 *Wonder Electric . . . . . 618.6 *AAVAS Finan . . . . . 1318.3 *Exxaro Tiles . . . . . . . . 85.7
Shares and
Warrants
record the ces-
sation of direc-
cial year end-
ing 31st March
Compliance
Officer in place
Karnataka Bk:
To consider
S&P BSE-100 22,989.0 22,887.8 23,003.4 22,868.6 22,962.8 -26.2 -0.1 *Indus Towers . . . . . . . 286.1 *Fischer Chemic . . . . . 600.5 *GMM Pfaudler . . . . . 1201.1 *Comrade Applian . . . . 76.3
Prev cls Close % Chng AIK Pipes: torship of Mr. 2024. of Ms. Heta and approve Notice is hereby raising includ- Consider and and the board NHPC: To
*Zomato . . . . . . . . . . 183.5 *Triveni Turbine . . . . . . 549.0 *Tatva Chintan . . . . . . 1119.2 *SEL Mfg . . . . . . . . . . . . . 72.2
S&P BSE-200 9,966.5 9,927.0 9,984.6 9,918.6 9,968.1 1.6 0.0 Meeting of the Sudarshan Future Con- Shah; 4. Any Prior intima- given that sep- ing by way of approve the Ap- as a whole. 2) inter-alia con-
Auto 48,250.0 48,246.9 0.0 Others *Tulive Develop . . . . . . 486.5 *Lux Inds . . . . . . . . . . 1090.1 *Deepak Chemtex . . . . . 68.5
Board of Direc- Shastri (DIN: sumer: Closure other business tion of the arate meeting debt issue pointment of Di- To review per- sider the pro-
S&P BSE-500 31,622.7 31,513.8 31,694.4 31,490.8 31,636.0 13.3 0.0 Bankex 53,105.8 52,837.5 -0.5 *Solar Ind . . . . . . . . . . 9429.1 *Diamond Power . . . . 483.3 Bajaj Elect . . . . . . . . . . . 906.3 *Starcom . . . . . . . . . . . . 58.4
tors of the 00155105) as of Trading Win- with the per- Meeting of the of Independent Mayukh Deal- rector(s) on the formance of posal for raising
Cons. Durables 51,003.9 51,259.1 0.5 *Voltamp Tran . . . . . . 9426.6 *V2Retail . . . . . . . . . . . 443.7 *Naperol Invest . . . . . . 830.0 *Cargotrans Mari . . . . . 54.3
Company Independent dow mission of Committee of Directors of the trad: To con- board of the chairman of the of debt during
S&P BSE IPO 12,895.5 12,900.5 12,953.7 12,798.2 12,878.0 -17.5 -0.1 Cap. Goods 58,726.4 59,424.9 1.2 *Elantas Beck . . . . . . 9125.0 *JRE Ltd . . . . . . . . . . . . 371.4 *Happiest Minds . . . . . 760.1 *Sahara Maritime . . . . . 50.5
Ansal Infras: Director of the Generic Phar: Chairperson. Directors for Company will sider and company. 3. Any company. 3) To financial years
FMCG 19,292.6 19,237.2 -0.3 *Force Motors . . . . . . 7372.0 *Ceenik Exp . . . . . . . . . 358.2 *Globus Sprt . . . . . . . . 690.0 *ANG Lifescience . . . . . . 49.3 For considering company w.e.f. To consider Honda Power: considering
S&P Dollex-30 7,173.3 - - - 7,142.3 -31.0 -0.4 be held on Wed- approve 1. To other business access Quan- 2023-24 and
Healthcare 34,489.2 34,561.1 0.2 *Apar Ind . . . . . . . . . . 7354.1 *Maha Rubtech . . . . . . 335.0 *Best Agro . . . . . . . . . . 485.0 Ekansh Concepts . . . . . . 49.0 and approving, 01st April 2024 and approve 1. To consider and approving nesday, March Consider and with permission tity, Quality and 2024-25.
Nifty 50 22,096.8 21,947.9 22,073.2 21,947.6 22,004.7 -92.1 -0.4 Infra 554.7 562.6 1.4 *IVZINGOLD . . . . . . . . 5912.0 *Deep Industries . . . . . 331.2 *HLE Glascoat . . . . . . . 430.0 *Fortis Malar . . . . . . . . . 45.5 inter-alia, the due to comple- To consider and approve the Issue Price 27 2024 at the approve the Ap- of the Chairper- timeliness of NLC India:
IT 35,824.7 35,620.3 -0.6 *CRISIL . . . . . . . . . . . . 5264.8 *Reliance Infra . . . . . . 288.0 *Tarsons Product . . . . 396.5 Medico Remedies . . . . . 45.2 Un-Audited/ tion of his and take on inter-alia ap- for the Equity Registered of- pointment of son. flow of informa- Meeting of the
Nifty next50 59,188.9 59,000.1 59,858.6 58,991.8 59,801.5 612.6 1.0
Metal 27,839.4 27,974.8 0.5 Avenue Supermar . . . 4522.9 *Prithvi Exch . . . . . . . . 255.0 *Kanchi Karpoora . . . . 356.3 *Polymch Mach . . . . . . . 44.1 Audited Finan- term; 3. To record the res- pointment of Shares to be fice of the Com- Company Sec- Navkar Urban: tion. 4) Any Board of Direc-
Nifty 500 19,994.6 19,895.6 20,044.5 19,895.3 20,005.3 10.7 0.1 Oil & Gas 27,164.8 27,391.9 0.8 *Thermax . . . . . . . . . . 4143.3 *Time Technp . . . . . . . . 253.6 Suryalta Spg . . . . . . . . . 348.6 MIL . . . . . . . . . . . . . . . . 44.1 cial Results consider re- ignation of Mr. Director and allotted to pany. retary Cum 1) To review other business tors of the Com-
Power 6,536.0 6,546.4 0.2 *Veljan Denis . . . . . . . 3759.8 *Saumya Cons . . . . . . . 241.2 IIFL Finance . . . . . . . . . 315.8 *Innokaiz India . . . . . . . 43.6 (Standalone views and fi- Ulhas Deos- Postal Ballot Qualified Insti- L & T: To con- Compliance of- performance of with the per- pany to
India VIX 12.2 12.2 13.1 12.1 12.8 0.6 4.9 *Shah Foods . . . . . . . . . 236.3 *Shiva Global . . . . . . . . . 43.2
PSU 17,990.4 18,102.4 0.6 *KEI Ind . . . . . . . . . . . 3500.6 *EKI Energy . . . . . . . . . 308.0 and Consoli- nalize the thale from the Notice of the tutional Buyers sider and ap- ficer of the Non-independ- mission of the consider Fund
Nifty CPSE 5,660.3 5,622.1 5,707.3 5,595.1 5,686.5 26.2 0.5 Realty 6,906.3 7,006.5 1.5 m m w w dated) of the matters to be post of Whole- Company. You Khandwala S: prove fund Company. 2. To ent directors chair. raising.

> BS 200
WHAT THIS STOCK PAGE CONTAINS AND WHY The third sub-set of The table also contains the (F&O) section a wide set of an option may be exercised. becomes valueless while compared with the previous XD after the traded quotes M
BSE NSE BSE NSE
information is the stock’s company’s price-earnings data has been provided. An option is “in-the-money” futures contracts are close, the close price is indicate that the scrip has
market capitalisation. The (P/E) multiple. The P/E Open Interest: OI is the if the market price exceeds compulsorily settled on underlined. A significant gone ex-dividend after that l ~100 q ~3 Aarti Inds ABB IndiaH
BS 200 stocks account for over paid-up value . Four
85 per cent of the volume of categories of information are market capitalisation is multiple is arrived at by number of contracts open at the SP (in case of a call option) expiry. On NSE, it is the last change means a 3 per cent date; XB denotes ex-bonus, PCLose (655.0) (655.3) (5965.4) (5967.4)
m ~50 H ~2 Open 644.7 645.0 5871.5 5881.0
shares, value and trades on provided: First, the basic shown in ~crore and is arrived dividing the day’s closing end of day in the futures and and the market price is below Thursday of every month. rise or fall in scrips whose XR ex-rights; XO ex-indicator
High 661.8 662.0 5984.8 5986.6
the Bombay Stock Exchange information on the day’s at by multiplying the closing price by its reported earning options segment. OI thus SP (in case of a put). Put/call ratio: The ratio of market values are over 10 for other corporate actions n ~20 « ~1
Low 644.7 645.0 5871.5 5875.3
and National Stock Exchange. trading. Information is also prices of shares with equity per share (EPS) for trailing 12 indicates traders’ Otherwise it is “out-of- open interest in put options & times paid-up value or 15 per like AGM/EGM/ preference u ~6 Face value Close 655.7 656.5 5931.9 5929.8
For BS 200 stocks, the given on the number of capital. It changes either months. EPS is calculated on expectations. High OI is money” call options. cent for the rest of the shares. shares/mergers and others . M of scrips is Shares 20050 627K 6532 383K
because more shares have the basis of consolidated typical when traders see a Expiry date: The date on ABBREVIATIONS: When a The letters H or L appended denotes volume of shares in  ~5 ~10 in all PE 54.8 54.8 104.0 104.0
company name is followed by shares traded, and also the 52 Wk H/L 712/438 712/438 6021/3143 6034/3141
been issued (or extinguished) earnings wherever available. continuing trend. which a derivative expires . significant change occurs in to prices indicate a new high million, L in lakhs & K in cases if not
its BSE group in brackets and price trend with 52-week Q ~4 specified. Mcap 23767 23798 125697 125652
the symbol indicating the highs and lows. or the price has moved. In the futures and options Strike Price: The price at which An unexercised option the day’s closing value or low in the scrip; the letters ‘000’.

BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE BSE NSE
Abbott India ACC Adani Energy So Adani Enter« Adani Green En Adani PortsH « m H m mH H  « « « « m
(27078.6) (27067.1) (2441.3) (2443.3) (1014.7) (1015.6) (3105.4) (3107.7) (1850.9) (1851.8) (1280.9) (1281.6)
O 27285.7 27199.0 2440.9 2430.0 1008.7 1003.0 3104.9 3100.5 1843.6 1840.0 1291.2 1281.6 O O
27285.7 27199.0 2475.8 2477.2 1063.3 1064.5 3171.3 3172.0 1938.4 1938.7 1314.2 1314.0
w 26554.0 26550.7 2429.5 2429.6 1004.2 1002.6 3090.8 3089.1 1839.5 1840.0 1281.0 1281.0 w w
26703.9 26701.1 2450.1 2450.0 1046.4 1045.9 3106.6 3110.0 1858.4 1859.0 1304.1 1304.2
727 14019 3948 187K 118K 4088K 30294 937K 35045 956K 119K 3611K
49.5 49.5 28.3 28.3 100.2 100.1 100.8 100.9 - - 39.0 39.0
W 29628/20594 29639/20605 2760/1594 2746/1592 1250/687 1250/686 3349/1573 3350/1573 2016/796 2019/796 1357/571 1357/572 W W
M 56746 56740 46010 46009 116719 116669 354152 354534 294368 294471 281694 281727 M M

Aurob Pharma« Axis BankH Bajaj Auto Bajaj FinH Bajaj Finsrv« Balkrishna IH Balram Chini« Bandhan Bank Bank of BarodaH Bata India Berger Paints« Bharat Elctn« Bharat ForgeH Bharti Airtel BHELH Biocon BirlasoftH Bosch
(1020.2) (1019.8) (1034.0) (1033.3) (8935.6) (8945.3) (6763.1) (6760.9) (1587.4) (1587.6) (2275.5) (2276.1) (365.8) (366.1) (181.8) (181.8) (259.9) (259.8) (1382.4) (1382.7) (558.0) (558.3) (197.3) (197.5) (1129.7) (1128.9) (1235.8) (1236.1) (239.1) (239.1) (252.1) (252.2) (730.7) (730.9) (30166.9) (30178.7)
O 999.5 1002.0 1029.8 1029.0 8936.2 8945.3 6710.3 6754.5 1592.0 1589.0 2275.7 2272.0 O 365.6 363.8 181.2 181.4 257.5 259.0 1382.1 1380.0 557.7 555.4 197.3 197.0 O 1133.0 1131.9 1232.8 1225.0 238.8 238.5 252.5 254.2 726.1 730.9 30000.3 30245.0
1058.0 1059.3 1044.0 1044.2 9015.4 9020.0 6943.0 6945.0 1619.0 1619.0 2288.1 2289.0 372.7 373.0 183.7 183.8 263.8 263.8 1382.3 1382.1 561.7 562.0 200.5 200.5 1140.0 1141.0 1233.5 1234.0 240.4 240.5 259.0 259.0 748.3 748.7 30770.9 30852.1
w 995.0 995.3 1027.8 1027.5 8848.0 8851.1 6710.3 6745.0 1589.6 1589.0 2254.3 2253.0 w 363.1 363.7 180.0 180.2 257.5 259.0 1368.3 1366.3 554.2 554.0 196.0 196.0 w 1127.5 1127.0 1211.2 1210.0 236.2 236.2 251.5 251.0 726.1 730.0 30000.3 30180.1
1052.7 1053.1 1040.8 1040.6 8963.0 8960.6 6910.4 6910.1 1593.4 1593.9 2266.2 2266.4 366.1 366.1 181.8 181.8 261.6 261.6 1372.8 1372.4 557.9 558.2 199.4 199.4 1130.5 1130.2 1216.1 1213.1 239.7 239.8 258.0 257.7 745.2 744.9 30668.6 30680.4
54816 1860K 5063K 9657K 21835 534K 104K 1850K 33950 1616K 3046 147K 52525 1687K 1096K 11903K 292K 8259K 125K 389K 12095 635K 613K 25724K 32245 729K 251K 10898K 693K 12328K 174K 7271K 22118 1021K 775 39017
22.3 22.3 26.8 26.8 34.3 34.3 35.4 35.4 32.6 32.6 36.1 36.1 15.2 15.2 9.8 9.8 7.7 7.7 66.5 66.5 63.2 63.2 40.5 40.5 41.1 41.1 81.9 81.7 - - 25.8 25.8 37.0 37.0 38.9 38.9
W 1177/497 1177/498 1152/827 1152/826 9051/3770 9050/3770 8190/5525 8192/5523 1742/1216 1741/1215 2794/1912 2796/1909 W 486/343 486/344 272/173 272/173 286/159 286/159 1770/1349 1771/1348 679/471 680/471 217/90 217/90 W 1330/744 1330/744 1245/739 1245/739 272/68 276/68 307/199 307/199 862/250 862/251 30771/17925 30852/17931
M 61678 61698 321175 321114 253814 253745 427751 427735 254219 254307 43805 43810 M 7383 7384 29278 29278 135257 135257 17643 17638 65034 65075 145757 145757 M 52636 52620 687686 686018 83465 83500 30975 30939 20564 20556 90442 90476

BPCL Britannia« Can Fin HomeH Canara Bank CGCELH Chambal Fert Chola InvH CiplaH City Union Bk« Coal India Coforge Colgate« Containr Crp Coromndl Int« Cummins (I)H Dabur India« Dalmia BharatH Deepak NitrtH
(592.9) (592.8) (4866.6) (4865.0) (746.7) (747.1) (573.1) (573.2) (268.8) (269.4) (344.0) (343.9) (1088.9) (1089.4) (1480.8) (1481.3) (135.5) (135.4) (431.3) (432.0) (5544.1) (5540.1) (2708.2) (2708.1) (868.3) (868.1) (1065.2) (1065.4) (2935.1) (2930.8) (522.3) (520.8) (1959.3) (1959.3) (2160.4) (2161.1)
O 587.8 586.4 4788.5 4748.4 754.7 747.0 570.5 572.0 273.8 271.4 346.6 343.5 O 1083.8 1080.4 1479.7 1473.0 130.2 134.2 434.7 433.8 5500.3 5546.5 2700.3 2686.0 O 868.7 868.1 1050.3 1064.5 2943.0 2939.0 518.8 512.6 1946.6 1928.7 2146.2 2154.2
603.5 603.8 4975.0 4975.0 758.0 758.1 574.4 574.7 273.8 272.7 347.5 347.5 1131.0 1131.0 1481.8 1481.3 136.8 136.9 440.8 441.0 5579.5 5580.0 2761.0 2759.5 880.5 880.5 1067.0 1068.0 2985.0 2985.0 522.1 522.3 1969.1 1970.0 2172.0 2171.7
w 585.0 585.4 4740.2 4740.7 741.3 740.9 567.6 567.3 269.7 269.6 340.4 340.1 w 1080.1 1077.5 1460.9 1460.0 130.2 134.2 430.9 430.9 5500.3 5527.0 2678.6 2679.0 w 862.1 862.8 1040.5 1040.0 2920.0 2918.3 515.2 512.6 1931.4 1928.7 2133.6 2134.6
599.8 599.9 4961.2 4961.5 754.9 754.5 571.8 571.9 270.6 271.0 343.3 343.4 1115.3 1115.2 1471.7 1472.3 135.8 135.9 435.9 436.0 5543.8 5547.3 2746.9 2745.5 867.5 868.1 1062.7 1062.7 2970.6 2969.1 521.2 521.1 1959.2 1961.2 2138.2 2139.1
276K 6784K 14395 555K 6412 294K 132K 4970K 64632 3868K 66805 975K 38544 3092K 19354 1636K 234K 1983K 171K 9389K 8343 206K 10598 357K 36729 950K 4179 458K 12254 514K 119K 1961K 9031 233K 8772 138K
4.5 4.5 55.3 55.3 14.2 14.2 7.4 7.4 39.8 39.9 10.2 10.2 29.1 29.1 32.0 32.1 10.3 10.3 9.1 9.1 49.0 49.1 59.3 59.3 43.5 43.5 18.1 18.1 58.1 58.1 51.5 51.5 35.5 35.5 69.7 69.7
W 688/327 688/327 5386/4154 5386/4153 905/509 910/512 606/273 606/273 328/251 328/251 402/249 403/248 W 1310/710 1310/710 1519/876 1519/876 168/120 168/120 488/208 488/208 6840/3565 6847/3565 2761/1491 2760/1490 W 1035/555 1028/555 1288/849 1272/849 2985/1481 2985/1481 597/504 597/504 2429/1805 2431/1803 2520/1764 2521/1762
M 130112 130122 119515 119521 10051 10046 103732 103741 17402 17428 13752 13758 M 93674 93666 118818 118862 10059 10062 268633 268664 34272 34293 74716 74678 M 52854 52890 31286 31286 82345 82303 92348 92339 36745 36782 29165 29177

« H H H  M « « H m « GMR Airports« GNFC Godrej Cons« Godrej Prpty Granules« m H

(78.6) (78.7) (624.3) (624.4) (1224.3) (1221.7) (2248.3) (2246.4) (431.1) (430.8)
O O O 78.6 78.6 615.3 621.0 1209.8 1201.7 2215.1 2201.6 430.9 430.8
79.8 79.8 635.9 636.4 1210.0 1210.2 2279.3 2279.9 437.0 437.3
w w w 77.8 77.8 615.3 618.9 1193.2 1192.6 2205.3 2201.6 428.0 427.7
79.1 79.1 628.3 627.3 1199.4 1199.1 2273.3 2272.5 433.1 433.6
372K 12905K 22472 539K 15709 1541K 20184 407K 27127 601K
- - 13.3 13.3 68.7 68.7 94.9 94.9 26.6 26.6
W W W 94/37 94/37 815/484 815/484 1300/897 1314/897 2541/1006 2541/1005 481/268
M M M 47726 47714 9232 9217 122675 122639 63205 63185

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.
MUMBAI | WEDNESDAY, 27 MARCH 2024 13
<
14
>
MUMBAI | WEDNESDAY, 27 MARCH 2024 1

PUBLIC NOTICE
This is to notify the public at large
that Veeram Rupesh Shah, is no longer
a partner / designated partner in POD
Pieces of Desire LLP and that he has
no authority whatsoever to hold
himself out as a partner or carry out
any business in the name of the LLP.
If Veeram Shah or any of his associates
at Design ni Dukaan etc. represent
that he is still a partner and invite
business on that basis, then please
intimate the undersigned at
info@needapod.com.
Nishita Chetan Kamdar
Designated Partner
POD Pieces of Desire LLP.
Place : Mumbai Date : 27.03.2024
PUBLIC NOTICE
LOSS OF SHARE CERTIFICATE
Notice is hereby given that the Folio No.
P000012896 Share Certificate No(s).
389128 for 270 Shares bearing Distinctive
No(s). 33011421 to 33011690 standing
in the name of Prakash Motilal Firodia
in the books of ACC LIMITED has /
have been lost / misplaced / destroyed
and the advertiser has / have applied
to the company for issue of duplicate
share certificate(s) in lieu thereof, any
person(s) who has / have claim(s) on the
said shares should lodge such claim(s)
with the company’s registrars and
transfer agents viz. Kfin Technologies
Private Limited, Selenius Tower B, Plot
No. 31-32, Gachibowli Financial District,
Nanaramguda, Hyderabad-500 032
within 15 days from the date of this notice
failing which the company will produce
to issue duplicate share certificate(s) in
respect of the said shares.
Name(s) of the shareholder(s)
Sd/-
(1) Lalita Prakash Firodia
(2) Vikram Prakash Firodia
Both R/o. 5, Shobhasadan, DSP Chowk,
Nagar-Aurangabad Road, Ahmednagar-414001. (M. S.)
(3) Bhavna Vinay Kothari
R/o. 1101, Jehangir Tower, 10, Setalvad Lane,
Of. Nepean Sea Road, Cumbala Hill, Mumbai-400 036
Place : Mumbai
Date : 27.03.2024.

IAPMD Department, Zonal Office Mumbai, 1st Floor,

National Business Centre Bandra Kurla Complex,
Bandra (E), Mumbai-400098.
Jammu & Kashmir Bank limited T +91 (0)2226384100/200 E : iapmd.mum@jkbmail.com
CIN: L65110JK1938SGC000048
E-Auction Notice
(For sale of Immovable Mortgaged Property/ies under the SARFAESI Act, 2002)
[Refer Proviso to rule 8(6)]
Notice is hereby given to the public in general and to the Borrower(s)/Mortgagor(s)/Guarantor(s)
in particular that the below mentioned property mortgaged to Jammu & Kashmir Bank Ltd.,
Branch Office Versua Mumbai, as security for the Secured Loan facility/ies extended in favour
of Mr. Raj Kumar Namdev Dange S/o Namdev Dange R/o. 1/10, DANGE NIWAS, S.N.DUBE
MARG, KOKRIPADA, DAHISAR(E) BOMBAY MAHARASHTRA 400068, the possession of
which has been taken by the Authorised officer of the bank under Section 13(4) of the SARFAESI
Act, will be sold through E-auction on “AS IS WHERE IS”, “AS IS WHAT IS”, “WHATSOEVER
THERE IS” and “NO COMPLAINT / NO RECOURSE BASIS” basis on 16-04-2024, for recovery
of Rs. 35,48,846.97(Rupees Thirty Five Lacs Forty Eight Thousand Eight Hundred Forty Six &
Paisa Ninety Seven Only) outstanding as on 30.09.2023 (Excluding interest from 01.10.2023
and other expenses from 01.01.2022), due to Jammu and Kashmir Bank, Versua Mumbai Branch,
Secured Creditor, with further interest and charges due to , secured creditor, from Viz:-
1. Mr. Raj Kumar Namdev Dange S/o Namdev Dange R/o. 1/10, DANGE NIWAS, S. N. DUBE
MARG, KOKRIPADA,DAHISAR(E) BOMBAY MAHARASHTRA 400068
The specific details of the properties intended to be put on sale through e-auction mode are
enumerated below:
Flat No. G/002, “A” Wing Ground Floor “Royal Crest Co-operative Housing Society” Revenue
Beverly Park Mira Bhayandar Road (East) Thane-401107
Reserve Price Rs. 35,15,000/= (Rupees Thirty Five Lacs
and Fifteen Thousand Only)
EMD Amount Rs. 3,51,500 (Rupees Three Lacs Fifty
One Thousand and Five Hundred Only)
Bid incremental amount 90,000 (Ninety Thousand Only)
Last Date & Time of submission of Bid, 15-04-2024 upto 04:00 pm
Earnest Money Deposit (EMD) & Documents
Earnest Money Deposit (EMD) & JAMMU AND KASHMIR BANK LTD
Other Remittance/s detail/s by RTGS to BRANCH OFFICE: VARSUA
Account Number IFSC: JAKA0VARSUA
ACCOUNT NO: 0445072000000001
ACCOUNT NAME: RTGS INTER BANK RECEIPTS
Date and time of e-auction 16-04-2024 from 02:30 pm to 03:30 pm
The bid document/format containing full details of the property and all the terms and
conditions can be downloaded from, “http://sarfaesi.auctiontiger.net” & “http://jkbank.com”
and bid can be submitted on the website “http://sarfaesi.auctiontiger.net” (for technical assistance
contact person Ram Sharma -9978591888, Contact no. 079-68136880/68136837 Mob.: +91
9265562821/18 email: support@ auctiontiger.net). For any property related query may contact
Branch Manager Branch Versua Mumbai, Mr. Nisar Ahmad Bhat (Cell# +91-9596248471,
Landline: 022-66954648) Email: varsua@jkbmail.com.
Arjun Singh Rathore
Date: 26.03.2024 Authorised Office / Chief Manager
Place: Mumbai J&K Bank
.
SLIPPERY ROAD
India's clean energy drive faces a tricky patch of
taxation; the elephant in the room is ~7.5 trillion
a year in revenues to the exchequer
S DINAKAR
Chennai, 26 March
I
ndia’s quest to get to net
zero by 2070 faces its
share of obstacles in the
form of a slowdown in
solar installations, a less than
satisfactory electric vehicles
scale-up, and a compulsion to
build new coal generators, but
the elephant in the room is a
contribution of ~7.5 trillion in
revenues to the exchequer
that the oil and gas business
generates on an annual basis.
It is true that the path to
net zero helps to gradually
eliminate emissions and
pollutants in a nation that
was ranked along with
Pakistan, Tajikistan and
Burkina Faso as the five
countries with the most
polluted air in 2023 by IQAir,
a Swiss air quality technology
company that collects air-
sensor data. Delhi had the
dubious distinction of
having the worst air, with
fossil fuel-powered transport
a key culprit.
But the journey to clean
India’s air chips away at the
tax edifice, assiduously built
over the last few decades by
successive governments,
leaving less on the table for
both federal and state
administrations to fund
capital spending and social
budgets. The newer fuels,
including compressed
biogas, ethanol or electric,
offer little to the government
at the moment by way of
revenues — rather, they are a
drain on state finances.
“The impact on tax
revenues will not be
immediate but gradual and
MUMBAI | WEDNESDAY, 27 MARCH 2024 TAKE TWO 15 <
FUEL FUND
Contributions by oil and gas
sector to exchequer (In ~ crore)
n Central nStates
TOTAL
5,75,632 5,55,371 6,72,719 7,74,425 7,48,718
2,82,122 3,20,651
2,17,650
2,27,591
2,21,056
3,48,041 3,34,315 4,55,069 4,92,303 4,28,067
2018-2019 2019-20 2020-21 2021-22 2022-23
the Central share at 57 per year from levies on collecting ~19.90 for each litre. share of E2Ws sold to 75 per
Top 5 states: Sales tax/VAT payment by oil cent, or ~4.3 trillion. Revenues petroleum. Sales tax and VAT Tax breakup for State government revenues cent of all new vehicles sold
and gas companies (In ~ crore)
from excise on fuels dropped
by 20 per cent during the
on fuels alone accounted for
~2.88 trillion, or 90 per cent of
diesel and petrol will differ because taxes vary
across states. In Delhi, for
by 2030 from around 6 per
cent now.
2022-23 Excise ~/litre GST %
2021-22 2022-23 % of total % share of period to ~2.87 trillion, a what states earned last instance, it impacts ~78.5 Revenues from petrol, the
revenues total fuel sales fallout of the government financial year from the Petrol 19.9 NA billion in VAT revenues. second biggest consumed
cutting excise duties on petrol petroleum sector. Diesel 15.8 NA But the losses are fuel, at 16 per cent of India’s
Maharashtra 34,002 37,619 13.1 9.4
and diesel in 2021 and 2022. India, the world’s third notional; in practice, oil total fuel basket, will be most
Uttar Pradesh 26,333 28,170 9.8 8.7 ATF NA NA
Contributions from excise largest oil user, consumed 223 companies charge the same affected because of the
Gujarat 20,697 24,631 8.5 11.5 reached a record ~3.73 trillion million tonnes of oil products LPG NA 5 price for 100 per cent petrol or availability of affordable
Tamil Nadu 20,586 24,309 8.4 6.5 in 2020-21. in 2022-23, 10.5 per cent LPG NA 18 ethanol-spiked petrol, alternatives in biofuels and
The Central government higher from a year earlier. non-domestic meaning they collect the electric. Demand for petrol
Karnataka 18,310 18,459 6.4 6.7 reduced petrol and diesel With much of India’s same taxes from the rose by 13.4 per cent in 2022-
Rajasthan 17,401 18,574 6.4 4.8 prices by ~5 a litre and ~10 a pollution contributed by consumer even though 23 from the year earlier to 35
Source Petroleum ministry documents litre in November 2021 by power and transport — road India conserved 5 billion ethanol comes under a million tonnes, or nearly 50
cutting excise taxes, and, in fuels especially in urban litres of gasoline in the 5 per cent GST rate. So, billion litres. Diesel, India’s
May 2022, cut taxes further by areas — New Delhi is keen to December 2022-November neither New Delhi nor biggest fuel, accounting for
more in the long term,” budgeted ~30 trillion in ~8 a litre and ~6 a litre, replace as much diesel and 2023 ethanol supply year, oil state governments 38 per cent of the country’s
said Swarnendu revenue receipts in the 2024- respectively. petrol as possible with minister Hardeep Puri said in incurred any losses. fuel consumption basket, will
Bhushan, co - head of 25 budget. In a different States including affordable alternatives. a government statement. Puri But it is a different story take longer to get replaced.
research at brokerage context, state revenues from Maharashtra, Gujarat, Tamil also inaugurated last week an with electric vehicles. Every “Indias oil demand is
Prabhudas Lilladher. oil and gas generated in the Nadu, Karnataka, Rajasthan, Alternative scenario Indian Oil Corporation’s retail electric vehicle directly expected to grow until 2040
last five years are adequate to and Uttar Pradesh are the The impact on fuel taxes from outlet selling E100, or 100 per eliminates demand for or even 2050 according to the
States’ side of the story pay for four years of imported biggest gainers from a sales use of alternative fuels can be cent ethanol, which, if petrol. Electric two-wheelers, International Energy
India’s oil and gas sector has crude oil — India’s oil imports tax on petroleum products. gauged from the proliferation successful, will slash the the country’s biggest petrol Agency,” said Prashant
contributed 33.3 trillion totalled Rs 12.6 trillion in These states — they oppose a of ethanol at the expense of demand for petrol. guzzler, make up around 5-6 Vasisht, senior vice president
rupees in the last five fiscals — financial year 2022-23. goods and services tax (GST) petrol. For instance, let us A 5-billion-liter reduction per cent of the sales now, but and co-group head,
exceeding the entire revenue Oil and gas revenues regime for transport fuels — study the impact of the in petrol sales is nearly ~100 the government plans to corporate ratings at ratings
receipts of next fiscal’s budget totalled ~7.49 trillion in 2022- together account for 39 per savings in consumption of billion, or, ~10,000 crore less increase the ratio to more agency ICRA. There’s no
estimate, according to the oil 23, down by 3.3 per cent to cent of the ~3.2 trillion that petrol on the exchequer based in Central excise taxes, with than 75 per cent by 2030. immediate impact on tax
ministry documents — India ~7.74 trillion in 2021-22, with states earned last financial on government data. the Central government India plans to increase the revenues.
Abbot India Limited
CIN: L24239MH1944PLC007330
Regd Office: 3, Corporate Park, Sion-Trombay Road, Mumbai - 400 071
Tel No.: 022-5046 1000/2000
Email Id: investorrelaions.india@abbot.com Website: www.abbot.co.in
POSTAL BALLOT NOTICE
Members are hereby informed that pursuant to the provisions of Secions 108 and 110 of the Companies
Act, 2013 (“the Act”), Rule 20 and 22 of the Companies (Management and Administraion) Rules, 2014
(“the Rules”) and other applicable provisions of the Act and the Rules, General Circular Nos. 14/2020
dated April 8, 2020, 17/2020 dated April 13, 2020 and 09/2023 dated September 25, 2023, issued by
the Ministry of Corporate Affairs (“MCA Circulars”), Regulaion 44 of the Securiies and Exchange Board
of India (Lising Obligaions and Disclosure Requirements) Regulaions, 2015, Secretarial Standard on
General Meeings issued by the Insitute of Company Secretaries of India and other applicable laws,
rules and regulaions (including any statutory modificaion(s) or re-enactment(s) thereof for the ime
being in force), approval of the Members of Abbot India Limited (“the Company”) is sought for the
following Ordinary Resoluions via Postal Ballot through remote e-voing process:
Sr. No. Description of Ordinary Resolutions
1. Appointment of Ms Swai Dalal (DIN : 01513751) as a Director of the Company
2. Appointment of Ms Swai Dalal (DIN : 01513751) as the Managing Director of the Company
Pursuant to the MCA Circulars, the dispatch of the electronic copies of the Postal Ballot Noice
along with the explanatory statement and detailed instrucions regarding remote e-voing, has been
completed on Tuesday, March 26, 2024, through electronic mode, only to those Members whose e-mail
address is registered with the Company / Registrar and Share Transfer Agent (“RTA”) / Depositories /
Depository Paricipant(s) and whose names appear in the Register of Members / Beneficial Owners as
on Friday, March 22, 2024 (“Cut-off Date”).
The said Noice is also available on the website of the Company at www.abbot.co.in, website
of BSE Limited at www.bseindia.com and website of KFin Technologies Limited (“KFinTech”) at
htps://evoing.kfintech.com.
In accordance with the MCA Circulars, Members can vote only through remote e-voing process.
The voing rights of the Members shall be reckoned on the basis of the equity shares of the Company
held by them as on the Cut-off Date. Once the vote on resoluion is cast by the Member, he/she shall
not be able to change it subsequently. Any person who is not a Member of the Company as on the
Cut-off Date should treat this Noice for informaion purposes only.
The Company has engaged the services of its RTA, KFinTech, for the purpose of providing remote
e-voing facility to its Members. The remote e-voing shall commence on Wednesday, March 27, 2024
at 9.00 a.m. (IST) and ends on Thursday, April 25, 2024 at 5.00 p.m. (IST). The e-voing facility will be
disabled by KFinTech ater 5.00 pm (IST) on Thursday, April 25, 2024.
The Board has appointed Mr Taizoon M. Khumri, Pracicing Company Secretary (CP No. 88 and
Membership No. FCS 993) as the “Scruinizer” for conducing the Postal Ballot through remote e-voing
process in a fair and transparent manner.
The resoluions, if passed by the requisite majority, shall be deemed to have been passed on the last
date of remote e-voing, i.e., Thursday, April 25, 2024. The results of voing through Postal Ballot along
with the Scruinizer’s Report shall be announced not later than 5.00 P.M. (IST) on Saturday, April 27,
2024. The same will be displayed at the Registered Office of the Company, on the Company’s website
at www.abbot.co.in, remote e-voing website of KFinTech at htps://evoing.kfintech.com and shall
also be communicated to the BSE Limited, Stock Exchange where the shares of the Company are listed.
Members who have not registered their e-mail address are requested to register the same (i) with the
Depository Paricipant(s) where they maintain their demat accounts, if the shares are held in electronic
form, and (ii) Members holding shares in physical mode, who have not registered/updated their
e-mail address with the Company, are requested to register/update their e-mail address by submiing
Form ISR-1 (available at htps://www.abbot.co.in/investor-relaions/investor-centre/investor-download-
centre.html) duly filled and signed along with requisite supporing documents to KFinTech at Selenium
Tower B, Plot Nos. 31 & 32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500 032.
In case of any query/concern/grievance, Members may refer to the remote e-voing user manual
or Help and Frequently Asked Quesions (FAQs), available at the Downloads secion of KFinTech at
htps://evoing.kfintech.com or contact Mr Premkumar Nair, Manager - Corporate Registry,
KFin Technologies Limited, Selenium Tower B, Plot Nos. 31 & 32, Gachibowli, Financial District,
Nanakramguda, Hyderabad 500 032, India, e-mail: einward.ris@kfintech.com, Toll Free No.: 1800 309
4001, or write to the Company Secretary at investorrelaions.india@abbot.com.
Abbot India Limited
Place: Mumbai Sangeeta Shety
Date: March 27, 2024 Company Secretary
Membership No.: ACS 18865
16
>
MUMBAI | WEDNESDAY, 27 MARCH 2024 1

March 26, 2024

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WILL INDIA INC PUSH THE
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The economy is growing and capital markets are buoyant. A look into why companies
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PAGE 12
SPRING SEASON AHEAD FOR
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After battling funding winter and scandals, the sector focuses on profitability

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EDITORIAL
A year of hope,
new beginnings
W elcome to another edition of SB
BS1 0 0 0 , the guide to India's
biggest and financially most
successful listed and unlisted compa-
nies, excluding banking, financial ser-
vices, and insurance (non-BFSI) firms.
Like in the past, the 2024 edition not only
provides the annual revenue-wise rank-
ing of India's biggest non-BFSI compa-
nies, but it also provides actionable data.
The companies have been ranked on
their financial sustainability index (FSI)
based on their past performance. Those
ranking higher on the FSI index have
superior balance sheets, strong cash
flows, and higher profitability. They
typically outperform peers: In the
product market and on the bourses.
Similarly, BS1 0 0 0 analyses the financial
performance of India's top 250 non-BFSI
unlisted companies to pick the best 30.
The BS1 0 0 0 companies continued
their post-pandemic growth momentum
in FY23. Their combined revenue grew
at a double-digit pace for a second year
in a row and crossed ?100 trillion for the
first time last financial year. Their
combined revenue, at around ~119
trillion (about $1,476 billion), was up
almost 23 per cent from ~96.9 trillion
($1,302 billion) in the previous year. The
companies' revenue growth outpaced
the country's economic growth and
consequently their contribution to gross
domestic product (GDP) increased.
India's GDP at current prices grew
Business Standard
4 M a r c h 2 02 4
wsnigeb
14.21 per cent in FY23 to around ?270
trillion ($3,345 billion). BS1 0 0 0 firms'
combined revenue was equivalent to
44.1 per cent of India's GDP in FY23, up
from 41 per cent in FY22, and was the
highest contribution to GDP since FY16.
For comparison, BS1 0 0 0 companies'
revenue-to-GDP share had fallen to a low
of 36.5 per cent in FY21 from an all-time
high of 62.5 per cent in FY09.
The BS1 0 0 0 companies, however,
disappointed on earnings as their
combined net profit was down 7.3 per
cent year-on-year at ~7.27 trillion (around
$90.2 billion) in FY23. As a result, their
combined net profit-to-GDP ratio fell to
2.7 per cent in FY23, from a decadal high
of 3.26 per cent in FY22.
Momentum in corporate revenue,
profit growth and India's GDP growth in
FY24 have rekindled hopes ofbetter
capital expenditure by corporate India in
FY25 - a missing piece in the country's
growth story so far. The cover story
explores this possibility, given
macroeconomic tailwinds.
Our second story looks at startups.
After scorching growth in the pandemic,
the sector reversed sharply, with
sentiments turning sour, valuations
taking a hit, and funding drying up.
While quite a few startups have made a
comeback, there are new hurdles.
Fintechs are under regulatory scanner
and edtech has its own challenges. So,
what next for India's startup sector?
EH1000 yxw
EDITOR: SHAILESH DOBHAL
For circulat ion, cont act :
Ms MANSI SINGH
Tel.: 1800- 11- 4300 (Toll Free)
Su b s_b sd el @b sm ai l .i n
For m arket ing , co nt act :
ad ver t i se@b sm ai l .i n
Pr i n t ed a n d Pu b l i sh ed by N an d an Si n g h
Ra w a t o n b e h al f o f Bu si n ess St an d ar d
Pr i vat e Li m i t ed an d p r i n t ed at M P Pr i n t er s
(A u n i t o f D B Co rp . Lt d .), B- 2 2 0 , Ph ase - I I ,
N o i d a- 201305 wutsrnlihgedbaSRPNB
BS 1000
FORM IV (see Ru l e 8 )
1. Place of Pub licat io n
2. Periodicit y of its Pub licat io n
3. Print er's N am e
N at io nalit y
W h et h er a cit izen o f Ind ia?
If a foreigner, t he co unt ry of origin
Ad d ress
4 . Pub lisher' s N am e
N at io nalit y
W h et h er a cit izen o f Ind ia?
If a foreigner, t he co unt ry of orig in
Ad d ress
5. Edit or's N am e
N at io nalit y
W h et h er a cit izen o f Ind ia?
If a foreigner, t he co unt ry of orig in
Ad d ress
6 .N am es an d ad d resses of i n d i vi d u al
w h o o w n t h e n ew sp ap er an d
p art ners or shareho ld ers h o l d i n g
m o re t h an o n e p ercent of t he
total cap it al
7. Shareho ld ers h o l d i n g m o re t h an
o n e p ercent of t he t ot al cap it al
I, N an d an Singh Raw at , hereb y d eclare t h at t h e p art iculars given
ab o ve are t rue to t h e b est o f m y k n o w l ed g e an d b elief.
Dat e: M arch 2024
utronlic
N ew Delhi
A n n u al
N an d an Singh Raw at
In d i an
Yes
N/A
N ehru Ho use,
4 , Bah ad u r Sh ah Zafar M arg ,
N ew D el h i - 1 1 0 002
N an d an Singh Raw at
In d i an
Yes
N/A
N ehru Ho use,
4 , Bah ad u r Sh ah Zafar M arg ,
N ew D el h i - 1 1 0 002
Shailesh Do b hal
In d i an
Yes
N/A
N ehru Ho use,
4 , Bah ad u r Sh ah Zafar M arg ,
N ew D el h i - 1 1 0 002
O w n er :
Business St an d ar d Privat e
Lim it ed , N ehru Ho use,
4 , Bah ad u r Sh ah Zafar M arg ,
N ew D el h i - 1 1 0 002
Ko m af Fin an cial Services
Privat e Lim it ed , 240, Navsari
Bu i l d i n g , 1st Floor, D.N .Ro ad ,
M u m b ai ,
M ah ar ash t r a- 400 001.
Cu m u l u s Trad ing Co m p any
Pvt . Ltd.
240, Navsari Bu i l d i n g ,
1st Floor, D.N .Ro ad , M u m b ai ,
M ah arash t ra - 4 0 0 0 0 1 .
In f i n a Fin an ce (P) Ltd.
7th Floor, Dani Corporate
Park, 158, CST Ro ad , Kal i n a,
Sant acruz (East ), M u m b ai .
M ah ar ash t r a- 4 0 0 0 9 8 ,
Harisid d h a Trad ing &
Fin an ce Privat e Lim it ed , 240,
Navsari Bu i l d i n g , 1st Floor,
D.N .Ro ad , M u m b ai ,
M ah ar ash t r a- 400 001
sd/ -
Na n d a n Si ngh Ra w a t
Pr i n t e r s Publ i sher
Where exceIleqgei& Linnovat ion conver g e ywvuts

IM FA is India's lead ing , f ully int egrat ed p ro d ucer o f val ue ad d ed f erro

chr o m e, st rad d ling t he val ue chain f ro m m ining t o sm elt ing . Wi t h 190
M VA inst alled f urnace capacit y backed up by 204.55 M W cap t ive p o wer
g enerat io n cap acit y (includ ing 4.55 M Wp solar) and chrom e ore mining
t ract s, our product s are cert if ied t hrough ISO 9001 Qualit y M anag em ent
Syst em . Recognised wo r l d wi d e as a reliable and cost co m p et it ive
p r o d u cer , IM FA h as l o n g st an d i n g r el at i o n sh i p s w i t h l ead i n g
int ernat ional co m p anies besides d om est ic st ainless st eel producers.

i m f a
COVER STORY
Making Corporate
India push the xutsplhedca
capex pedal
Macroeconomic a n d financial
conditions have never b e e n
better for I n d i a n companies,
w i t h profitability a t a record
high a n d capital markets
b u o y a n t . The country is t h e
w o r l d ' s fastest g r o w i n g m a j o r
economy. Yet,SBBS1000
companies are reluctant on
large capex. Why?
1 Bu si n ess St an d ar d
6 I UM a r c h 2 0 2 4
miooo
ILLUSTRATION: AJAYM OHANTY yxwvu
KRI SH N A KA N T
yxwvutsrponmlkjihgfedcbaYWTMI
T
he Indian economy is now the toast of the world, with one of
the highest economic growth rates among major economies.
The improvement in India's headline GDP comes at a time
when major global economies are experiencing an economic
slowdown due to factors like monetary tightening by central
banks, higher inflation, supply-chain disruptions and ongoing
wars in East Europe and West Asia.
According to data from National Statistical Organisation (NSO),
India's gross domestic product (GDP) at constant 2011-12 prices
expanded by 8.4 per cent year-on-year (Y-o-Y) in the October-
December quarter (Q3) of 2023-24 (FY24), an improvement from
8.1 per cent growth reported in the July-September quarter (Q2) of
FY24. In 2022-23, India's GDP had grown by 7 per cent. This
prompted an upward revision of India's growth estimates for FY25
by analysts and rating agencies. Recently, Reserve Bank of India
(RBI) Governor Shaktikanta Das also said that GDP growth for rhcaUMI
 AMDCI zywvutsrponlkihgfedcaZYVTSRPNMLIHGDCA Advertorial
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© 2024 Advanced Micro Devices, Inc. All right s reserved. AM D, t he AM D Arrow logo and combinat ions t hereof are t rademarks of Advanced Micro Devices, Inc. Other product names used in t his
publication are for ident ificat ion purposes only and may be t rademarks of t heir respective companies.
COVER STORY
EH100Q WVUT
REVENUE REPORT
• Re v e n u e ( T t m ) • Yo Yc h g ( % ) - RH S

140 42 yxwvut

FY24 might come close to 8 per cent.

In India, acceleration in the headline
GDP growth, coupled with benign
conditions in the financial and capital
markets, has raised hopes of an
imminent revival in capital expenditure
(capex) by the private sector, which has
been a missing piece in the country's
growth story in recent years.
In fact, in recent years, companies'
FY14 FY15 FY16 FY17 FY18 FYI 9 FY20 FY21
capex growth has trailed growth in their
revenues and profits. Consider this. In
the last ten years, the combined assets of TSB
BS1000 companies have expanded at a PROFITS DECLINE
compound annual growth rate (CAGR) of I N et p ro fit ( ? t m ) ' Yo Y d i g ( % ) - R H S
6.7 per cent. In the same period, their 10.0 120
combined revenues have clocked a CAGR
of 7.6 per cent, and their combined net
profit a CAGR of 9.8 per cent. wtsronmihgedcbaUTLB

Broad-based economic growth

6.0 40
Economists now expect a turnaround in
the private-sector capex cycle. "Given the
strong macroeconomic fundamentals, 4 .0
consumption and investments are
expected to maintain growth, if not drive
it higher in FY25. In addition to the
continued growth in government capex,
a pickup in private capex is expected to
be broad-based," said Madan Sabnavis,
2.0

0. 0
Hi Ss f l Vl - 40

-80

chief economist at Bank of Baroda, in a FY14 FYI5 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

recent note. He expects the Indian

economy to clock a growth rate of 7.8 per ASSETS GROWTH MODEST
cent in FY25.
• To t al asset s ( T t m ) • Yo Yc h g ( % ) - RH S
"After a sluggish decade,
manufacturing will pick up pace on 170 18
p i
improving competitiveness, increasing
investments, global opportunities from ioo 4 L1 5 rhcaM
supply-chain diversification, the green-
transition imperative and domestic 80 \ 112
policy push," said Amish Mehta,
managing director & chief executive
60
officer (MD & CEO) at CRISIL. Mehta

T! LUti"
expects a gradual moderation in
government capex and the baton being 40

taken up by the private sector. The rating

agency, which is majority owned by US- 20
based S&P Global Inc, expects India's
GDP growth to moderate to 6.8 per cent 63.1 B 6 5 . 1 • 6 9 . 4 1 7 1 . 0 B 7 2 . 8 B 8 0 . 4 B 8 4 . 1 1 8 9 . 3 1 9 6 . 3 1 1 0 4 .8
in FY25. FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
The case for private sector capex has slifYVSIHF
Dat a f o r BST000 companies. So u r ce: Cap i t al i n e, Bu si n e ssSt a n d a r d Cal cu l at i o n s; Co m p i l ed b y BS Resear ch Bu r e au

8 Mar ch 20 2 4
 Celebrating 50 Years o f vuie

v / i e u zyxwvutsrp

Rig Veda has emphasized on the importance of Panch Tatva (five

elements), Prithvi (Earth), Ap (Water), Tejas (Fire), Vayu (Air),
Akash (Ether/Space). wutsrqponmlihgfedcaWTRQPONMLJIHGFEC
| ffr^ M IH Qglfciqn |

Delivering
\ vsrpnligeaHD
HPCL on its 50th Year of formation celebrates the five essential fcjxf^j^i Happiness
HsppillGSS
elements that make up a successful Corporation and a Business, such as
a strong brand, loyal customer base, reliable products or services,
competent employees, and sound financial management. It also I(g^WM
s ^ + d M < ^ 5 i l ( c 1 < JH W f R R
c|»Ih FR
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c l R i s

represents connection to nature and paves the way for celebration of Hindustan
HindustanPetroleum
PetroleumCorporation CorporationLimited Limited
Achievement, Stability, Legacy, Transcendence and Vigor. yvutsrqponmliedcaVSPONMGF
V
MoPNGfc7 : For p r o m p t a c t i o n o n a n y Oil % G a s r e l a t e d query, p l e a s e c o n t a c t f / M o P N G e S e v a a | E8 / M o P N G _ e S e v a a

n / h p c l I ® / h p c l | O / h p c l w w w . h i n d u s t a n p e t r o l e u m . c o m
COVER STORY
m io o o yxw

also been boosted by a big increase in

capital expenditure by the central
government in recent years. In the past
ASSETS GROWING SLOWER THAN
three years, the annual capex by the REVENUE AND PROFIT
central government has increased at a Relative growth inSB
BS1000companies' revenues, profitsand assets in last10years
CAGR of 30.6 per cent, rising from ~4.26
trillion in FY21 to ~9.5 trillion in FY24, — Revenue = Net profit ™ Total assets
300
with these being made largely in building
highways and railways as well as defence 233.88 n
250
equipment acquisitions. yutsrponmlkigedcaYWIB
200
Benign monetary policy
The RBI has been far more sympathetic
150
to growth concerns than other major
central banks. For example, the United
States Federal Reserve (US Fed) has 100
raised its policy rates or Fed Funds rate BASE =100 188.73
from 0.9 per cent in August 2021 to 5.33 50
per cent currently. As a result, the FY14 FY23
benchmark US 10-year treasury yield has So u r ce: Cap i t al i n e , Bu si n e ss St an d ar d cal cu l at i o n s; Co m p i l ed b y BS Resear ch Bu r e au

shot up to about 4.16 per cent from a

record low of 0.5 per cent in July 2020. By
comparison, the benchmark bond yield
in the US was 2.4 per cent on average in
the post-Lehman crisis period (January
2009 to December 2019).
In contrast, the RBI has raised its
policy rate or repo rate by only 250 basis
points in the post-Covid period from 4
per cent in May 2022 to 6.5 per cent
currently; between 22 May 2020 and May
2022, it remained at 4 per cent.
As a result, the yield on benchmark
10-year India government bonds has
increased by just 130 basis points in the
past three and half years from a low of
5.75 per cent in July 2020 to a little over 7
per cent currently. The average yield on
10-year Government of India bonds was
7.7 per cent in the post-Lehman period. In
other words, the lending rates in India
are currently lower than in the pre-Covid
period, while in
the US, Analyst s see t he f irst signs of a revival December 2022
corporate and
in corporat e capex in aut omobile,
retail borrowers
are now paying
capit al goods, cement , elect ronics,
higher interest and elect ric vehicles
rates than they
paid prior to the pandemic.
This has translated into benign
financial conditions in India and it shows
in high double-digit growth in bank
credit for a second straight year in FY24.
The fundraising through the equity
market also remains robust with a boom
in the pricing and subscription of initial
public offerings (IPOs). Corporate India
can't expect a better macroeconomic
recipe to go on a capex binge and crank growth opportunities available in the
up their growth engine. economy right now?
Yet, corporate India seems reluctant Weak consumer demand
The financials of the listed companies, Analysts attribute this to a slowdown in
includingSBBS1 0 0 0 , however, indicate that overall consumer demand in the country.
companies are still reluctant to speed up "The corporate results for the first nine
capex. The combined assets of listed months of FY24 suggest a sharp
companies excluding banking, financial consumer demand slowdown, and there
services and insurance (BFSI) were up 5.4 has even been a volume contraction in
per cent Y-o-Y in the first half (April- some segments," said Dhananjay Sinha,
September) of FY24, a decline from 8.1 co-head of Equities and head of Research
per cent growth in the second half of Strategy and Economics at Systematix
(October-March) of FY23 and 10.7 per Institutional Equity.
cent Y-o-Y growth in H1FY23. The combined revenues of BS1 0 0 0
This also shows in the slower growth companies were up just 2.5 per cent Y-o-Y
in bank credit to the industry. According in the first nine months of FY24, a sharp
to RBI data, bank credit to industry was slowdown from 22.7 per cent Y-o-Y
up 6.8 per cent Y-o-Y on average during growth in FY23. Their combined net
the April-December 2023 period, down profit was, however, up 34.2 per cent
from 10.7 per cent growth during the Y-o-Y in 9MFY24, driven by a sharp rise
April yxvutsrponmlihgfedcbaA
in operating profit margins.
"On a broader canvas, the pulse of
period. In consumption has been weak; only some
comparison, pockets have fared better on volume
the overall non- trajectory, such as paints, and jewellery,"
food credit wrote Gautam Duggad, Deven Mistry and
grew by 18.7 per Aanshul Agarawal of Motilal Oswal
cent Y-o-Y in the first nine months of Financial Services.
FY24, an improvement from 14.3 per cent The combined net sales of a broader
Y-o-Y growth during the same period in sample of 2,750 listed companies ex-BFSI
FY23. The bank credit was led by was up just 4.5 per cent Y-o-Y in Q3 of
personal loans, which grew by 26.7 per FY24, down from 15.9 per cent Y-o-Y
cent Y-o-Y during the April-December growth in the year-ago period. The
2023 period. slowdown was sharpest for FMCG
So, what's holding India Inc back from companies, which saw their combined
embarking on an aggressive capex net sales grow by just 2.5 per cent Y-o-Y
journey to take advantage of the various in Q3FY24, the slowest growth rate in 14

1 Business Standard rhcaUMI

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cover_story-2024-final-1_cover_story-2021.qxd 15-03-2024 01:22
COVER STORY
quarters. The discretionary and big-ticket
consumption, however, grew faster,
aiding the growth of automakers. The
combined net sales of listed automakers
were up 16.5 per cent Y-o-Y in Q3 of FY24,
though the growth rate moderated on a
sequential basis.
Discretionary and big-ticket
consumer goods, however, account for a
very small part of overall consumer
spending in the country. According to the
National Sample Survey Organisation's
(NSSO's) latest Household Consumption
Expenditure Survey, durable goods
accounted for 7.13 per cent of urban and
6.9 per cent of rural consumer spending,
respectively, in FY23. Another 5.4 per
cent and 6.1 per cent of urban and rural
consumer spending, respectively, was
accounted for by clothing, footwear, and
bedding. Nearly 87 per cent of overall
household consumption expenditure is
accounted for by necessities such as food
& beverages, personal care products,
health care, fuel & light expenses,
conveyance and rents.
"Aggregate demand is largely driven
by the government capex. Prevailing
consumption demand is highly skewed
in favour of goods and services
consumed by the households belonging
to the upper 50 per cent of the income
bracket and therefore not broad-based.
This is reflected in the manufacturing
growth which is also not broad-based,"
writes Sunil Kumar Sinha (senior director
& principal economist) and Paras Jasrai
(senior analyst) at India Ratings and
Research.
At the macro level, the private final
consumption expenditure (PFCE) at
constant prices is expected to grow by
only 3 per cent in FY24, more than
halving from 6.8 per cent in the previous
year, according to ywvtsrponmlihgfedbaUSLIC
the latest Lending rates in India are lower
estimates by the t han in t he pre-Covid period.
NSO. Similarly, Compare t hat to t he US, w here
growth in PFCE at borrowers are paying higher
current prices is int erest rat es t han before Covid
expected to slow
down to 8 per cent in FY24 from 14.2 per
cent the previous year.
This is significant, as PFCE is the
biggest segment of the economy, and it
accounted for 58 per cent of India's GDP
at constant prices and 60.9 per cent at
current prices in FY23.
"Weak demand is forcing many
Business Standard
12 Mar ch 20 24
P a
g e ^ yxvutsrqponmlkihgfedcbaYVTSRPONMIGFEDCBA
[1
1000 wutsrqponmlih
DISCRETIONARY SALES GROWING FASTER
FMCG firms' Q3 FY24 sales grew at the slowest pace in 12 quarters
— Cos exclud ing f inancials = FMCG cos = Aut o m o b ile cos (%)
150
100
50
0
- 50
-11.9
^ 100
D ec' 1 9 D ec' 2 3
Tr en d i n q u ar t e r l y sal es. So u r ce: Cap i t al i n e zyxwvutsrqponmlkihgfedcbaYWTSRQPONKJIHGFEDCBA
GROWTH IN NOMINAL, REAL GDP
Historical trend in India'sGDPgrowth atcurrentand constant prices
— GDP at current price = GDP at const ant prices Yo Ych an g e(%)
20
15
10
5
0 rhcaM
- 10
FY14 FY24
So u r ce: Reser ve Ban k o f I n d i a, N at i o n al St at i st i cal O r g an i sat i o n
companies to scale back operations and it result, indirect taxes will account for 9.2
shows a decline in raw material expenses per cent of GDP in FY24, up from 8.3 per
and inventories in the manufacturing cent in FY22 and 8.5 per cent in FY23. A
sector, while in the service sector there's rise in indirect taxes translates into
a slowdown in higher prices of goods and services, and
salary & wage it affects low-income families more than
expenses and a the rich as they spend most of their
freeze on fresh income on essential consumption.
hiring," said Besides, indirect taxes are not
Sinha. progressive, unlike personal income
A slowdown taxes. xwtsrponliedS
in household consumption spending is
attributed to factors such as poor income Slowdown in exports
and wage growth, high inflation, and a Exports have not been helping the overall
rise in indirect taxes in recent quarters. demand either. India's goods exports
Indirect taxes on goods & services (net were down 4.9 per cent Y-o-Y for the first
of subsidies) are expected to grow by 18.4 10 months (April to January period) of
per cent in FY24 compared with 9.1 per FY24. As a result, the share of goods
cent GDP growth at current prices. As a exports in India's GDP is expected to
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COVER STORY
EH100Q yxwv

infrastructure and subsidies such as

production-linked incentive (PLI)
schemes.
"With an expected ~5-7 trillion capex,
emerging sectors like EVs,
semiconductors and electronics will likely
contribute 20 per cent to the overall
industrial investment in the next four
financial years," said CRISIL's Mehta.
Companies in quite a few sectors
speeded-up capex in FY24. The
combined assets of automakers and their
suppliers were up 14 per cent Y-o-Y in
H1FY24. Other large sectors with double-
digit growth in capex include
pharmaceuticals (up 19.5 per cent),
capital goods (up 11.9 per cent), media &
entertainment (up 83.1 per cent) and
retail (up 30.1 per cent).
decline to 11.4 per cent in FY24 from 13.3 Asset utilisation remains low In contrast, companies in sectors such
per cent in FY23 and 13.4 per cent in Weak aggregate demand means that SB as oil & gas, power, telecom, mining &
FY22. At its high in FY14, merchandise BS1 0 0 0 companies' asset or capacity metals and textile & garments reported a
exports accounted for 16.9 per cent of utilisation is still lower than 15 years ago. deceleration in asset growth in H1FY24.
India's GDP. The revenue-to-asset ratio of BS1 0 0 0 There is, however, a risk of fiscal drag
In contrast, faster growth in goods companies was 101 per cent in the first on growth and investments going
exports was central to the swift recovery half of FY24, down from 113.5 per cent in forward. According to the Union
in the Indian economy from the Covid-19 FY23 and lower than FY14's 104 per cent government's Interim Budget for FY25,
economic and financial shock. Goods and FY09's 115 per cent. However, it is an the capex on roads & highways, railways
exports were up 44.6 per cent in FY22 improvement from 87.2 per cent in FY16. and defence is projected to grow by 5.3
and 6.9 per cent in FY23 and played a For comparison, revenue-to-asset per cent in FY25, compared to three-year
crucial role in the post-pandemic ratio was 125.4 CAGR of 26 per
recovery of the economy. per cent onyxvutsrponmlihgfedcbaT
The case for privat e sect or capex has cent. The
Services exports have done better and average during been boosted by a big increase in such overall
grown 6.3 per cent Y-o-Y during the first the FY03 to expendit ure by t he cent ral government
10 months of FY24. However, it's a FY09 eriod expenditure net
p . government in recent years
labour-intensive sector and does not of interest
The combined
translate into much capex. Secondly, the payment is projected to grow by 4.1 per
assets of BS1 0 0 0 companies had clocked
quarterly results of information cent next financial year, much lower than
a CAGR of 25 per cent in this period and
technology (IT) services firms such as 10.5 per cent growth in nominal GDP.
their revenues had expanded at a CAGR
Tata Consultancy Services and Infosys, of 24.5 per cent in these six years. It has to be seen if corporate India
suggest a slowdown in services exports as Many experts, however, see the first overcomes this challenge and rides the
well. The combined net sales of listed IT signs of a revival in corporate capex in wave of faster growth in headline GDP,
Services companies were up 3.5 per cent select sectors such as automobile, buoyant capital markets and large
Y-o-Y in Q3FY24, growing at the slowest capital goods, cement, electronics, and investments in emerging sectors to
pace in the last 14 quarters. wutsronmlieaAelectric vehicles (EVs) driven by factors kickstart a new cycle of capex-led
such as higher government capex in growth. •

14 rhcaMMar ch 20 24
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SPECIAL FEATURE
EH1000 utsrp

Indian startups: yxwvutsrponmlkihgfedcbaYWTIH

Funding winter over,

spring is coming vutsrponmlihgedcbaF

Focus o n ARYAM AN GUPTA As such, funding and deal volumes are

I
nflated valuations, corporate misgovernance,
governance cash burn, and the so-called funding winter
and improving were some of the defining trends in the
Indian startup world in 2023. However, what
m a r g i n s is could be perceived as a tumultuous year for the
country's startups was also a year of silver lining
again driving and sobriety for founders and investors alike.
The calendar year (CY) 2023 saw a series of
bullishness
valuation corrections, and several startups
among turned profitable after prolonged periods of
losses.
investors Increased focus among startups and founders
on governance and improving margins is again
driving bullishness among investors as markets
continue to recalibrate in CY 2024.
expected to show a resurgence as
macroeconomic (macro) headwinds subside.
Funding resurgence
Global macro headwinds and increased investor
scrutiny, due to corporate governance lapses
among several startups, impacted deal volumes
during the past year.
However, a tilt towards achieving
profitability, both on the part of founders and
investors, has imparted some much-needed
sobriety to the country's startup world, said
industry watchers.
While the number of deals took a hit, the
bullishness of investors towards the Indian

16 rhcaM
Mar ch 20 24

JIS UNIVERSITY: School Of Hospitality
& Hotel Administration, Ready to
Leverage t h e 2 0 2 7 Job Market
E
xpert projections reveal that the Indian
Hospitality industry is expected to
g r o w at a C A G R of 8 . 7 p e r c e n t
from 2023 recording a growth by ? 2.7 trillion
by 2028.This giant leap has been triggered
by fast-paced tech-innovation and increasing
diversification of tourism interest, disposable
income among other significant contributors.
This amplified demand will create over 8
million fresh job opportunities by 2028.
The JIS University School of Hotel & Hospital
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Food Production & Bakery & Diploma in
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d e s i g n e d to d e l i v e r a g l o b a l l e a r n i n g expanding our students' culinary horizon.
experience with international internship
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A skill-driven workforce is essential for
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Experts opine that Hotel m a n a g e m e n t
students should focus on acquiring a diverse
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hospitality skills but also emerging competencies
such as digital fluency, adaptability, and
creativity This multifaceted approach will
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yvutsrpnmiecaUSJI
dreams take flight.
SPECIAL FEATURE
market remained, as PE/VC INVESTMENTS
evidenced by the • Exit value($ bn)
unprecedented levels of dry
powder raised by India-
focused funds.
India-focused fundraising
recorded the second-highest
dollar value of funds at $15.9
billion in 2023, adding to the
country's growing pool of
unallocated capital. The
number of funds successfully
raised also reached an all-
time high of 102, according to
an EY-IVCA (Indian Venture
and Alternate Capital
Association) report. PE/VC EXITS
With almost a quarter • Value ($b n)
2024 gone, this unallocated
capital is expected to be
deployed into startups with
11.2 yxwvutsrqponmlkjihgfedcbaZYWVUTSRPONMLKIHGFEDCBA
proper business models
gradually. Deal volumes are
also expected to revive,
although not at the frenetic 2019
pace of previous years.
According to Sanjay
Nayar, former chairman and
chief executive officer of KKR
India and now founder and
chairman of Sorin
Investments, startups will not
PE/ VC FUN D- RAISIN G
be able to raise capital at
unrealistic and inflated
valuations as investors are
now more focused on proper
business models, paths to
profitability, and the quality
of founders.
"People want to cut
cheques. It's just that they are
more discerning. But for good
quality, founders and
companies will be able to
attract capital," he said.
Nevertheless, investors are So urce: EY-IVCA
of the view that the Indian
market provides opportunities that other
markets do not.
"The geopolitical macro is in our
favour. India's sweet spot, which many
people miss, is liquidity. You can build
startups that consume a lot of money, but
also ones that give back a lot of money to
investors," said Prashanth Prakash,
partner, Accel, a venture capital (VC) firm.
"We (investors) now spend a lot of time
in West Asia and Southeast Asia. But no
18 rhcaM March 2 0 24
EH1000 xvut
Other such areas include
electric vehicles, space
technology, cybersecurity,
logistics, and supply chain.
In 2023, Indian startup
funding fell by an immense 72
per cent year-on-year (Y-o-Y) to a
seven-year low of $7 billion. This
compares to $25 billion that
startups raised the previous year,
according to data from Tracxn, a
market intelligence platform.
However, this trend was not
limited to VC. Other funding
No of investments
instruments, like private equity
(PE), also witnessed funding
crunch.
PE/VC investments in India
24.8 fell 11 per cent Y-o-Y in CY 2023,
•A
18.2 from a total of $56.1 billion across
1,273 deals in CY 2022 to $49.8
billion across 854 deals in CY
5.9
2023, primarily due to a 33 per
cent drop in deal volume,
2020 2021 2023 according to the EY-IVCA report.
"The year 2023 was slower in
2022
terms of total capital
deployment. It has also been a
much-needed sobering period
No of exits for the VC ecosystem, after an
unprecedented influx of capital
in 2021. Late-stage capital,
particularly from the US market,
has not been very active this
year," said Ashish Kumar, co-
founder and general partner at
The Fundamentum Partnership,
a growth-stage investment firm. A
Challenges
Funding pangs aside, 2023 also
saw several instances of
corporate misgovernance pop up
among startups like BharatPe,
Number of funds GoMechanic, Trell, and Zilingo,
among others.
More recently, issues at huge
other country has that flywheel of great startups like Byju's and Paytm have also
entrepreneurs, enough funding, public shaken up the startup world.
market exits, and a supportive "These are bumps in the road," said
government," he added. Sanjeev Bikhchandani, a serial investor
Generative artificial intelligence, and co-founder of Info Edge (India).
climate technology, and financial The recent incidents of corporate
technology sectors are some of the hot misgovernance, Bikhchandani said, were
bets that founders and investors at the isolated incidents that did not have a
world's largest VC firms are expected to bearing on India's growth story.
pursue next year,utsrniedaSB
Business Standard "Ninety-nine per cent of Indian
reported earlier. snlhgeaC founders and startups are honest, well-
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SPECIAL FEATURE
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governed, and compliant. We will see

many startups coming up that are viable RISE OF VENTURE DEBT ^ V e n t u r e d eb t i n vest m en t s ($ b n )

and sustainable, with proper governance," IN ALTERNATIVE ASSET

he said. CLASSES
Regardless, investor scrutiny has
considerably increased as a result of such
incidents. The time taken for investors to
carry out due diligence has shot up,
which has, in turn, affected deal
volumes.
"The time taken for legal and
financial due-diligence has gone up
considerably due to several cases of
J70-180]
misgovernance. That period has gone up
from two months to almost three to four Venture d eb t d eals-
months. On average, the time taken So u rce: St rid e Ven t u r es
for deals to go through has gone up by
60-70 per cent," Fundamentum's
Kumar said. with lucrative exits, even if it did not IVCA.
Bikhchandani believes that the prove very fruitful for startups from a "As we look to the future, with policy
increased scrutiny is a positive for funding point of view. continuity after general elections and a
startups. "Increased investor scrutiny PE/VC exits in India surged by as high level of dedicated dry powder, India
must be there. It leads to better much as 36 per cent Y-o-Y to $24.8 billion is poised for an upswing in PE/VC
governance. As companies grow larger, in 2023, up from $18.3 billion the investments, signalling a convergence
there will be more investor scrutiny. It is previous year, the EY-IVCA report said. between seller expectations and buyer
natural," he explains. Open-market exits, comprising 52 per valuations," Tandon added.
The availability of domestic capital is cent of the total exits, reached a record While traditional VC has become a bit
another pressing concern for the high of $12.8 billion, while buoyant harder to come by, founders are also
country's startups. capital markets enabled the second-best looking to alternative asset classes to
"The need for funding among Indian year for PE-backed initial public offerings meet their funding requirements.
startups far exceeds the availability of (IPOs). Public listings numbered 30 in Alternative avenues of funding, like
domestic capital. 2023, up from 18 yxwvutsrponmlihgfedcbaIG
venture debt and revenue-based
For the Generat ive art if icial int elligence, in 2022. financing, among others, are gaining
foreseeable future, climat e t echnology, and f inancial This trend of prominence.
we will be largely exits is expected According to a recent report by
t echnology sect ors are some of t he
dependent on to continue into alternative debt provider Stride Ventures,
foreign capital in hot bets t hat f ounders and the new year. Indian startups cumulatively raised $1.2
the VC industry. invest ors at t he world' s largest Positive macro billion in venture debt investments
But the pool of vent ure capit alist f irms are conditions and a across 175-190 deals last year, a 50 per
Indian domestic expect ed to pursue in India focus on cent rise from $800 million raised across
capital will grow profitability by 170-180 deals in 2022.
side by side," Bikhchandani said. startups have driven bullishness on It is, however, important to note that
Although most of India's startup public market debuts. venture debt and other such categories
funding still comes from foreign As many as 14 startups are eyeing are much smaller compared to equity
investors, investors say the share of IPOs this year and pulling out all the funding.
domestic capital has been on the rise. stops to ensure successful debuts on A recent phenomenon in the Indian
"A lot of our partners are domestic stock exchanges. startup ecosystem, venture debt,
funds, which is a lot more now than what A total of five companies went public registered strong growth on the back of a
we would have seen three or four years in 2023, up from three the previous year. relatively smaller base.
ago. My view is that it will balance out in Another prominent trend likely to The rise in prominence of alternative
the next four or five years," said Prakash play out in 2024 is an increase in the asset classes, the increased focus on
of Accel. vrnligeS prominence of alternative asset classes. measured growth, and an emphasis on
"The industry is anticipating a proper governance are expected to
Silver lining strategic shift in investment approaches, give way to a pleasant spring for
While lingering concerns remain, last a rise in sectoral focus, and a resurgence Indian startups, offering some much-
year was also one of silver lining. in alternative capital investments after needed respite from the chills of the
The year 2023 did provide investors VUTSRONLJIFEDCBA
elections," said Rajat Tandon, president, funding winter. •

Business Standard
20 March 2 0 2 4
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RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY utrponmlkihgedbaYUTRPNMKIDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 % CHG FY23 %CHG FY23 %CHG % % ~ CR RANK RANK

1 1 Rel i an ce In d u st r i es, Mumbai 920274.0 2 4 .4 1 5 4 3 3 8 .0 2 0 .1 66702.0 9 .9 1 6 0 2 8 6 3 .0 1 0 .0 1 1177766.0 5 .8 1 6 0 8 9 .4 1 2 .5 2 4 8 7 2 .0 3 2 .5 2 0 3 7 6 .0 2 5 .0 9 .9 1 0 .0 1613803.4 1 Oil & Gas M u k e sh A m b an i 511
2 2 In d i an Oil Co rp o rat io n, Delhi/ NCR 872092.6 4 0 .4 3 5 8 0 6 .6 - 3 1 .3 9792.1 - 6 1 .0 18 1 3 6 2 2 6 .1 3 .2 4 294007.5 8 .7 5 4 1 3 1 .5 - 6 4 .3 9 3 5 9 .1 - 1 9 .2 3 3 3 3 .4 - 6 1 .1 8 .6 8 .0 147238.2 33 Oil & Gas Go vt o f In d ia 263
3 3 Oil & N at ural Gas Corp, Dehradun 638965.2 2 7 .2 7 5 4 9 7 .2 - 1 2 .9 35440.5 - 2 2 .1 3 2 6 0 0 3 9 .6 1 0 .3 2 465006.8 1 0 .5 2 1 4 1 5 2 .8 7 .1 1 4 8 9 8 .8 - 2 .2 1 0 2 7 3 .2 1 1 4 .2 1 4 .1 1 3 .3 242676.7 17 Oil & Gas Go vt o f In d ia 252
4 4 Bh ar at Pet r o leu m Corp, Mumbai 477854.6 3 4 .3 1 2 9 3 5 .3 - 4 6 .3 2131.1 - 8 1 .8 59 5 3 5 2 2 .4 3 .1 20 125088.0 5 .9 16 8 5 1 .8 - 7 5 .0 2 7 7 5 .0 - 1 8 .6 6 9 0 .1 - 8 4 .2 6 .3 6 .8 86080.1 60 Oil & Gas Go vt o f In d ia 298
5 5 H i n d u st an Pet r o leu m Corp, Mumbai 443236.8 2 5 .1 - 3 2 4 9 .7 ** - 6980.2 999 3 2 2 6 3 .3 2 2 .1 31 103765.6 1 4 .7 18 3 0 0 0 .7 - 0 .6 - 3 0 0 3 .7 - 1 9 .0 - 8 .0 44074.6 122 Oil & Gas In d i an Privat e 581
6 6 Tat a M o t o rs, Mumbai 357316.6 2 7 .6 3 8 1 4 3 .4 4 0 .5 2414.3 52 3 8 0 4 4 .1 - 5 .6 27 210218.5 - 3 .1 9 7 6 6 .0 3 3 6 5 4 .7 9 .2 7 0 4 .1 - 8 3 .4 5 .5 5 .3 224793.3 19 Au t o m o b i l e Tat a 478
7 7 Tat a St eel, Mumbai 248374.1 - 2 .1 3 3 8 6 9 .0 - 4 7 .7 8760.4 - 7 8 .2 19 1 0 0 2 7 5 .4 - 9 .6 5 202153.5 - 1 .4 10 4 4 0 0 .6 - 2 9 .4 2 2 4 1 9 .3 - 3 .6 1 0 1 5 9 .8 1 9 .8 7 .5 1 2 .1 157907.1 30 M i n i n g & M et als Tat a 487
8 9 Tat a Co n su lt an cy Services, Mumbai 228907.0 1 6 .9 6 2 7 0 8 .0 9 .9 42147.0 1 0 .0 2 8 9 6 0 1 .0 1 .9 7 100004.0 0 .7 20 4 2 0 9 0 .0 1 6 7 .4 1 2 7 5 2 2 .0 1 8 .6 1 4 6 0 4 .0 1 0 .3 4 7 .3 5 8 .0 1281174.8 2 Tech n o l o g y- So f t w ar e Tat a 2
9 8 Hi n d al co In d u st r ies, Mumbai 221268.0 7 .0 2 3 9 7 3 .0 - 1 9 .0 10097.0 - 2 6 .5 17 9 4 7 9 5 .0 2 1 .3 6 163065.0 7 .3 12 6 6 6 .0 - 2 5 .0 1 2 7 5 3 .0 8 .7 3 1 4 4 .0 - 4 1 .5 1 1 .7 1 0 .7 113589.3 41 M i n i n g & M et als Bi r l aAV 328
10 10 Lar sen & To u b r o , Mumbai 189562.5 1 7 .8 3 0 0 5 6 .7 1 2 .7 10470.7 2 0 .8 14 7 5 0 8 4 .7 8 .1 10 211201.1 1 .1 8 3 3 7 3 .2 9 .1 3 7 2 1 4 .1 2 5 .3 4 4 8 4 .2 6 .7 1 4 .7 1 2 .6 433762.7 7 Co nst ruct io n & Inf rast ruct ure L& T 607
11 13 NTPC, Delhi/ NCR 178905.7 3 0 .0 5 0 1 5 6 .9 1 1 .0 16912.6 1 .4 7 1 4 3 0 9 2 .7 8 .7 3 377004.4 6 .8 3 7 0 3 0 .1 3 .6 7 4 5 8 .6 3 .7 6 7 9 6 .1 3 4 .7 1 2 .1 9 .7 251685.0 15 Po w er Go vt o f In d ia 654
12 11 JSW St eel , Mumbai 170217.0 1 1 .7 2 0 0 3 1 .0 - 5 0 .8 4144.0 - 7 9 .9 34 6 4 3 5 1 .0 - 2 .6 15 149128.0 4 .4 14 1 0 2 3 .4 - 8 0 .4 3 9 1 5 .0 1 2 .1 1 5 1 6 .0 - 8 2 .8 6 .2 8 .6 193351.7 24 M i n i n g & M et als Saj j an Ji n d al 475
13 12 Ved an t a, Mumbai 151289.0 8 .0 3 7 0 5 6 .0 - 2 0 .6 10574.0 - 4 3 .8 12 2 9 4 1 9 .0 3 8 .8 34 115412.0 - 1 0 .1 17 3 7 7 5 8 .0 1 2 5 .6 3 0 9 8 .0 1 0 .2 5 7 7 0 .0 - 3 7 .7 2 2 .7 1 9 .9 88132.4 57 M i n i n g & M et als Ved an t a 537
14 19 GAIL (I n d i a), Delhi/ NCR 150504.9 5 6 .8 1 0 3 2 4 .5 - 4 2 .9 5616.0 - 5 4 .2 27 6 4 7 4 7 .9 1 .3 14 89313.9 1 1 .9 25 3 2 8 7 .6 - 2 6 .0 2 1 8 5 .2 4 .2 1 6 6 0 .5 - 4 7 .5 8 .7 9 .0 86247.0 59 Oil & Gas Go vt o f In d ia 225
15 14 Inf o sys, Bengaluru 149468.0 2 0 .6 3 7 8 3 1 .0 1 2 .0 24095.0 9 .0 5 6 5 0 0 5 .0 - 2 .4 13 86264.0 3 .2 26 1 4 1 0 3 .2 8 .2 7 8 3 5 9 .0 2 2 .5 9 2 1 4 .0 1 5 .7 3 6 .4 4 4 .4 602700.6 3 Tech n o l o g y- So f t w ar e Info sys 33
16 16 Coal In d i a, Kolkata 145480.7 3 0 .7 4 3 3 6 0 .4 5 1 .7 28165.2 6 2 .3 4 5 6 4 7 4 .2 3 3 .0 17 140438.8 1 5 .5 15 1 4 9 4 4 .6 4 2 .6 4 9 4 0 9 .2 2 2 .1 9 8 7 5 .9 5 8 .3 5 6 .0 2 9 .5 203910.6 21 M i n i n g & M et als Go vt o f In d ia 255
17 15 Bh ar t i Air t el, Delhi/ NCR 140833.5 1 5 .4 7 2 2 9 2 .4 1 6 .2 8345.9 9 6 .1 22 4 8 6 8 1 .5 1 8 .2 23 317334.0 2 7 .5 4 2 2 6 9 .3 3 5 .3 4 8 3 0 .8 9 .0 4 2 7 3 .3 2 .3 1 7 .0 1 2 .7 544747.6 6 Tel eco m m u n i cat i o n s Bh ar t i 722
18 20 M ah i n d r a & M ah i n d r a, Mumbai 129004.2 3 6 .6 2 4 2 4 6 .7 3 5 .6 10281.5 5 6 .3 15 4 5 6 4 9 .5 2 2 .0 24 157324.4 1 8 .4 13 1 9 4 6 .9 4 0 .9 9 6 7 8 .0 1 5 .4 2 6 8 5 .8 2 7 .4 2 2 .0 1 3 .7 197077.1 23 Au t o m o b i l e M ah i n d r a 835
19 18 Grasim In d u st r i es, Mumbai 122282.8 2 4 .3 2 5 3 2 2 .0 1 4 .7 6827.3 - 9 .6 24 3 4 5 7 1 .2 - 1 .8 30 249973.2 1 9 .4 6 6 5 8 .5 0 .0 7 1 9 3 .9 1 3 .7 3 6 4 8 .5 8 8 .4 1 4 .4 9 .0 130094.6 36 Co ng lo m erat e Bi r l aAV 947
20 21 M ar u t i Su zu k i In d i a, Delhi/ NCR 120293.3 3 3 .2 1 3 3 3 5 .8 7 5 .2 8211.0 1 1 1 .7 23 6 1 7 9 1 .3 1 1 .7 16 65712.0 1 3 .2 32 2 7 1 8 .0 5 0 .0 4 6 3 4 .6 1 4 .4 2 1 1 2 .1 1 5 8 .3 1 1 .5 1 3 .9 328190.3 9 Au t o m o b i l e Fo r ei g n - Su zu k i 7
21 17 St eel A u t h o r i t y o f I n d i a, Delhi/ NCR 111501.5 6 .2 9 8 9 3 .5 - 5 5 .6 2176.5 - 8 2 .2 57 5 4 7 4 6 .7 1 .0 18 95249.3 1 7 .7 24 6 1 9 .6 - 8 2 .9 1 2 0 7 1 .5 - 6 .1 7 1 5 .9 - 8 2 .3 3 .6 5 .3 38806.0 132 M i n i n g & M et als Go vt o f In d ia 666
22 24 M R P L, Delhi/ NCR 107807.1 5 1 .3 6 7 4 0 .7 3 4 .5 2655.4 - 1 0 .2 48 9 8 6 4 .5 3 6 .8 95 27410.2 - 5 .5 64 6 9 7 .8 0 .0 1 6 0 0 .5 3 1 .1 1 9 .7 20027.0 215 Oil & Gas Go vt o f In d ia 330
23 22 HCL Tech n o l o g i es, Delhi/ NCR 102881.0 1 8 .5 2 3 9 8 6 .0 1 1 .1 14851.0 1 0 .0 9 6 5 4 1 2 .0 5 .8 12 72845.0 2 .9 29 1 3 0 3 2 .0 1 4 .3 5 5 2 8 0 .0 1 9 .8 4 6 4 3 .0 3 5 .4 2 3 .3 2 7 .6 357696.2 8 Tech n o l o g y- So f t w ar e Sh i v N ad ar 25
24 23 Wipro, Bengaluru 92738.3 1 3 .9 1 9 1 1 3 .6 1 .9 11350.0 - 7 .2 10 7 7 6 0 9 .0 1 8 .8 9 98528.3 1 4 .8 21 5 4 8 .8 - 8 3 .3 5 3 7 6 4 .4 1 9 .5 3 3 9 9 .2 1 7 .3 1 5 .9 1 7 .1 213521.3 20 Tech n o l o g y- So f t w ar e Wipro 202
25 25 Sam v ar d h an a M o t h er so n , Delhi/ NCR 79281.2 2 2 .6 6 3 2 1 .5 1 9 .5 1495.6 7 1 .2 85 2 0 5 2 6 .1 9 .1 48 37857.6 4 .3 49 4 4 0 .4 5 0 .0 1 7 9 3 1 .4 1 6 .6 7 3 5 .2 2 1 .1 7 .8 8 .6 63183.3 78 Aut o An ci l l ar i es M o t h er so n 372
26 35 Ch en n ai Pet r o leu m Corp, Chennai 75912.9 6 9 .7 5 7 1 0 .6 1 0 7 .0 3531.5 1 6 1 .2 38 6 4 7 5 .1 1 1 6 .8 137 10770.6 - 1 2 .2 135 4 0 2 .1 1 2 5 0 .1 5 5 6 .3 1 .5 1 2 7 4 .9 1 6 0 .6 6 3 .5 4 1 .6 9038.2 363 Oil & Gas Go vt o f In d ia 128
27 26 ITC, Kolkata 73397.8 1 6 .1 2 7 8 0 1 .9 2 3 .4 19191.7 2 5 .9 6 6 8 7 7 1 .7 1 0 .8 11 70220.2 1 1 .3 30 1 9 2 6 3 .4 3 5 .9 5 7 3 6 .2 1 7 .3 6 4 3 8 .4 2 2 .9 2 9 .6 3 9 .0 554367.9 5 Co n su m er St ap l es I n d ep en d en t 59
28 28 Ult raTech Cem en t , Mumbai 64265.3 1 9 .8 1 1 1 2 7 .0 - 8 .7 5064.0 - 3 1 .0 30 5 4 2 6 8 .9 7 .6 19 66330.1 5 .9 31 1 0 9 7 .0 0 .0 2 7 3 9 .0 8 .1 2 3 4 2 .9 9 6 .9 9 .7 1 2 .8 257487.9 14 Cem ent & Bl d g M at erials Bi r l aAV 211
29 29 H i n d u st an Un ilever, Mumbai 61342.0 1 5 .9 1 4 5 9 5 .0 1 1 .6 10120.0 1 4 .0 16 5 0 0 8 6 .0 2 .1 22 54832.0 2 .7 36 9 1 6 5 .0 1 4 .7 2 8 5 4 .0 1 2 .1 3 2 0 1 .0 7 .2 2 0 .4 2 4 .9 593404.2 4 Co n su m er St ap l es Fo r ei g n - Un i l ever 282
30 33 Tat a Po w er Co m p an y, Mumbai 61079.8 3 1 .9 1 3 2 6 7 .9 3 9 .4 3336.4 9 1 .6 39 2 3 3 7 0 .7 2 4 .0 43 95624.0 1 2 .8 23 6 3 9 .1 1 4 .3 3 8 0 1 .4 1 .9 1 6 4 7 .3 3 3 4 .0 1 4 .9 1 0 .9 87985.7 58 Po w er Tat a 757
31 36 Pet ro net LNG, Delhi/ NCR 60560.4 3 9 .0 5 5 1 5 .1 - 2 .3 3325.8 - 3 .3 40 1 5 2 6 4 .6 1 1 .7 60 19424.0 7 .3 78 1 5 0 0 .0 - 1 3 .0 1 8 5 .3 1 .0 1 0 9 4 .4 - 2 .4 2 3 .0 2 5 .3 31698.8 157 Oil & Gas Jo i n t Sect o r 60
32 27 A d an i W i l m ar , Mumbai 57207.5 2 .0 1 9 2 2 .3 0 .7 582.1 - 2 7 .6 204 8 1 6 5 .8 7 .4 110 11175.0 2 .2 130 3 9 3 .8 0 .4 2 3 5 .4 - 1 7 .2 7 .0 1 4 .2 43946.4 123 Food Pro cessing A d an i 259
*
33 53 Int erg lo b e Avi at i o n , Delhi/ NCR 55882.7 1 0 9 .6 7 9 6 6 .3 5 1 2 .4 - 305.8 964 - 6 2 4 6 .5 996 47948.3 3 7 .2 39 4 7 9 4 .8 3 7 .5 1 .4 - 8 2 .8 102559.5 44 Airlin es Int erg lo b e 584
34 34 Tech M ah i n d r a, Pune 54255.2 1 8 .6 8 7 2 7 .8 - 4 .5 4831.3 - 1 3 .2 31 2 7 4 5 4 .3 4 .0 37 33857.1 2 .1 53 4 8 7 1 .0 6 7 .1 2 7 6 9 1 .8 2 4 .3 1 5 8 8 .5 - 1 2 .8 1 7 .7 2 0 .2 117291.3 39 Tech n o l o g y- So f t w ar e M ah i n d r a 67
35 31 UPL, Mumbai 54210.0 1 6 .2 1 0 6 6 0 .0 1 0 .8 3570.0 - 1 .5 37 2 4 2 5 9 .0 2 1 .2 41 54659.0 5 .0 37 7 5 0 .0 - 2 .0 5 0 5 6 .0 9 .4 7 3 6 .0 3 9 .1 1 6 .2 1 5 .2 43640.1 124 Agro Chem icals Excel Sh ro f f 559
36 30 Ji n d al St eel & Po w er , Delhi/ NCR 54194.1 4 .2 9 4 0 3 .2 - 3 1 .2 3173.9 - 4 4 .8 42 3 8 3 9 4 .1 1 2 .4 26 52942.6 6 .6 38 2 0 1 .0 - 3 3 .7 1 1 3 4 .3 3 0 .3 1 2 9 2 .3 - 5 5 .8 1 3 .3 1 4 .2 68843.4 71 M i n i n g & M et als N aveen Ji n d al 287
37 32 Po w er Grid Corp o f In d i a, Delhi/ NCR 47857.5 3 .3 4 0 6 6 8 .9 0 .4 15417.1 - 8 .4 8 3 0 1 4 .5 8 .9 8 214018.6 - 0 .6 7 1 0 2 8 8 .8 0 .0 2 7 6 7 .5 4 .9 2 2 8 4 .5 - 1 8 .0 1 9 .4 1 2 .7 198157.7 22 Po w er Go vt o f In d ia 670
38 37 Su n Ph ar m aceu t i cal s In d s, Mumbai 45081.0 1 3 .2 1 2 1 0 9 .9 7 9 .3 8473.6 1 5 8 .9 21 5 2 6 7 5 .3 1 7 .2 21 63810.8 2 6 .8 33 2 7 5 9 .2 1 5 .0 8 2 9 6 .0 1 3 .6 8 4 7 .6 - 2 1 .2 1 6 .5 1 6 .8 283621.3 12 Ph ar m aceu t i cal s Su n Ph ar m a 215
39 43 A v e n u e Su p e r m ar t s, Mumbai 43469.7 3 7 .6 3 7 6 6 .4 4 4 .0 2378.5 5 9 .4 54 1 6 0 7 8 .6 1 7 .6 55 16728.6 1 6 .7 87 7 4 7 .0 2 1 .2 6 8 1 .8 1 9 .2 1 6 .0 2 0 .1 251324.1 16 Ret ail D am an i Rad h ak i sh an 40
40 52 Ash o k Leyl an d , Chennai 43132.5 6 1 .6 5 2 6 2 .3 1 0 7 .6 1240.8 109 6 3 0 9 .1 4 .8 139 40775.9 2 7 .1 48 7 6 3 .4 1 6 0 .1 3 2 9 2 .4 2 4 .9 9 0 6 .9 9 5 6 .3 1 7 .2 1 2 .0 51052.5 99 Au t o m o b i l e Hinduja 868
41 41 Tit an Co m p an y, Bengaluru 43118.0 2 7 .5 5 1 8 8 .0 4 7 .3 3250.0 4 9 .6 41 1 1 7 9 8 .0 2 7 .2 82 21463.0 2 7 .9 73 8 9 0 .0 3 3 .3 1 6 4 7 .0 2 2 .1 1 1 7 3 .0 6 6 .1 3 1 .0 2 4 .8 300608.9 11 Jew el l er y Tat a 220
42 42 A d an i Po w er , Ahmedabad 43040.5 3 5 .8 1 4 3 1 1 .9 3 .8 10726.6 1 1 8 .4 11 2 9 6 2 9 .1 6 0 .5 33 76635.3 4 .6 27 5 7 0 .0 2 1 .2 - 3 0 5 1 .9 3 7 .2 1 3 .8 162013.6 28 Po w er A d an i 689
43 38 Vo d af o n e Id ea, Mumbai 42489.0 9 .4 1 7 1 0 6 .4 4 .7 - 29301.1 * 1000 - 7 4 3 5 9 .1 1000 170634.7 7 .1 11 1 8 6 6 .3 7 .6 3 .5 - 6 9 .0 62872.6 80 Tel eco m m u n i cat i o n s In d i an Privat e 878
44 39 Baj aj Au t o , Pune 38272.5 7 .4 8 1 6 7 .3 3 .0 6060.2 1 .7 25 2 9 3 6 1 .5 - 1 .7 35 29520.6 - 1 .7 57 3 9 6 1 .4 - 2 .2 1 4 8 4 .5 8 .9 1 7 8 1 .8 1 9 .9 2 0 .5 2 6 .5 161429.5 29 Au t o m o b i l e Baj aj 17
45 50 Oil In d i a, Delhi/ NCR 38067.5 3 8 .8 1 5 9 9 1 .7 3 6 .0 8728.6 5 5 .3 20 3 5 1 1 0 .4 2 5 .6 29 59038.3 2 1 .8 35 2 1 6 8 .8 4 0 .4 2 9 6 9 .8 1 5 .7 3 2 8 9 .5 4 4 .8 2 8 .6 2 6 .1 34576.3 145 Oil & Gas Go vt o f In d ia 416
46 40 Ji n d al St ai n l ess, Delhi/ NCR 36787.5 7 .6 3 8 2 2 .3 - 2 7 .4 2114.5 - 3 1 .3 61 1 1 8 9 4 .8 2 1 .9 81 16389.1 1 4 .9 89 2 0 5 .9 5 3 9 .3 - 2 .7 6 9 0 .1 - 3 4 .3 1 9 .2 2 0 .2 41045.1 130 M i n i n g & M et als Rat an Ji n d al 154
47 58 EID Parry In d i a, Chennai 36431.2 5 2 .3 3 2 3 8 .9 2 3 .9 947.5 4 .5 144 2 6 3 0 .7 3 .1 280 7752.3 1 7 .3 180 1 6 8 .6 - 1 3 .6 8 7 1 .3 1 3 .0 7 3 6 .5 3 2 .6 3 2 .0 3 9 .9 9156.3 361 Sug ar M u r u g ap p a Gro up 409
48 44 H i n d u st an Zinc, Udaipur 35620.0 1 5 .1 1 8 8 8 5 .0 9 .1 10511.0 9 .2 13 1 2 9 3 2 .0 6 2 .3 72 26062.0 - 3 2 .1 66 3 1 8 9 8 .8 3 1 9 .4 8 4 5 .0 1 7 .7 4 7 7 7 .0 6 .8 4 4 .5 4 8 .5 130246.3 35 M i n i n g & M et als Ved an t a 192
49 45 Asi an Pai n t s, Mumbai 35278.7 1 4 .4 6 6 9 1 .3 3 1 .2 4106.5 3 5 .5 35 1 5 5 3 8 .6 1 5 .8 56 18241.1 1 6 .8 82 2 4 6 0 .4 3 3 .9 2 0 2 8 .1 1 3 .5 1 4 9 3 .5 3 5 .4 2 8 .2 3 4 .5 303001.2 10 Co n su m er St ap l es Asi an Paint s 27
50 77 A d an i En t erp rises, Ahmedabad 35274.2 1 1 1 .0 9 6 5 6 .0 1 0 4 .3 2472.9 2 1 8 .4 50 2 8 2 1 2 .0 6 0 .4 36 95891.7 3 5 .2 22 1 3 6 .8 2 4 .4 1 8 7 7 .3 5 9 .0 1 0 4 1 .0 1 1 8 .4 8 .9 9 .1 283048.6 13 Co ng lo m erat e A d an i 660
51 46 Hero M o t o Co rp , Delhi/ NCR 34894.2 1 6 .0 4 6 6 5 .9 2 2 .8 2810.0 2 1 .3 46 1 6 5 3 0 .5 5 .3 54 17621.3 5 .0 86 1 9 9 8 .5 5 .3 2 2 5 0 .1 1 2 .7 1 0 6 3 .7 4 5 .9 1 7 .2 2 3 .1 68423.0 73 Au t o m o b i l e M u n j al (Hero ) 14
52 54 TVS Ho l d i n g s, Chennai 33954.0 3 0 .5 4 4 2 3 .6 4 6 .8 649.7 4 7 .4 185 4 3 6 .8 8 4 .8 786 29339.1 3 3 .7 58 1 1 9 .4 3 4 .1 3 1 6 9 .0 3 6 .0 6 8 0 .2 8 9 .1 3 2 .1 1 3 .4 12376.7 291 Aut o An ci l l ar i es TVS 924
53 51 LTIM ind t ree, Mumbai 33739.9 2 5 .5 6 6 6 4 .6 1 0 .8 4408.3 1 1 .7 33 1 6 5 8 5 .0 1 6 .1 53 18345.7 1 6 .6 81 1 7 7 6 .0 9 .1 2 0 8 7 9 .9 3 0 .6 1 3 8 1 .2 2 .8 2 8 .6 3 4 .9 162747.8 27 Tech n o l o g y- So f t w ar e L& T 19
54 56 TVS M otor Co m p an y, Chennai 32252.9 3 0 .8 4 1 6 2 .8 5 1 .4 1328.7 7 5 .6 100 5 1 0 0 .2 3 6 .2 162 28149.0 3 7 .5 61 2 3 7 .6 3 3 .3 2 8 9 0 .3 3 6 .0 6 2 6 .6 8 6 .5 2 6 .4 1 3 .6 82732.6 62 Au t o m o b i l e TVS 760
55 57 Pat an j al i Fo o d s, Indore 32120.7 3 0 .5 1 5 8 3 .3 0 .9 886.4 9 .9 150 9 8 4 6 .6 5 9 .6 96 11417.3 1 1 .8 124 2 1 7 .1 4 6 .8 2 7 7 .9 4 9 .6 2 9 2 .5 9 .1 1 1 .1 1 3 .2 51257.7 97 Food Pro cessing Ru ch i 279

Direct t a x i n c l u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

22 M arch 202 4 23
RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY ywvutsronmlkihgedbaYTRNMKIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK

56 47 A m b u j a Cem en t s, Mumbai v 31858.1 6 .7 4 4 5 5 .2 - 3 1 .1 2066.7 - 2 5 .7 62 2 4 6 3 9 .9 3 5 .3 40 32523.1 2 4 .4 54 3 9 7 .1 - 6 8 .3 1 4 8 5 .2 - 2 .9 5 6 4 .1 - 6 1 . 2 8 .5 1 0 .7 89672.0 54 Cem ent & Bl d g M at erials Ad an i 474

57 73 N at io n al Fert ilizer, Delhi/ NCR 30637.8 7 3 .1 1 2 7 2 .4 2 0 7 .9 458.3 241 2 5 4 1 .7 2 2 .2 283 8510.9 1 4 .8 165 1 3 6 .9 - 6 5 9 .1 1 .6 1 5 3 .7 3 1 9 . 6 1 9 .8 1 1 .6 3638.7 574 Fert ilizers Go vt of Ind ia 705

58 68 Co r o m an d el In t er n at i o n al , Hyderabad 30546.9 5 7 .7 3 0 7 2 .8 3 3 .7 2012.9 3 1 .7 65 7 9 0 7 .8 2 4 .4 115 8348.7 2 3 .2 167 3 5 2 .8 0 .2 6 5 6 .6 1 1 .8 6 8 7 .9 3 2 .0 2 8 .2 3 8 .2 34041.3 148 Fert ilizers M u r u g ap p a Gro up 38

59 55 H i n d u st an Aer o n au t i cs, Bengaluru 29291.2 1 7 .1 8 3 5 8 .6 3 0 .6 5827.7 1 4 .7 26 2 3 5 6 8 .4 2 2 .1 42 36422.0 9 .0 51 1 8 3 9 .2 3 7 .5 4 9 1 0 .4 6 .6 6 8 1 .8 3 7 1 .3 2 7 .2 1 8 .8 149819.9 32 Aero sp ace & Defence Go vt of Ind ia 132

2040.0 - 6 8 .0 63 - 4 .7 47 42739.9 - 3 .6 43 7 7 4 .1 0 .2 7 1 9 .3 - 6 5 . 0 9 .4 1 0 .2 593

60 48 In d u s To w er s, Delhi/ NCR 28959.6 2 .8 9 7 5 3 .6 - 3 6 .5 2 1 1 0 9 .5 50243.6 105 Tel eco m m u n i cat i o n s Bh ar t i
- 3 4 .0 119
61 70 Ch am b al Fert ilisers, Delhi/ NCR 26212.0 3 9 .6 2 0 4 4 .6 - 2 2 .5 1034.2 132 7 0 8 3 .3 1 0 .5 126 10448.4 - 2 .8 138 3 1 2 .2 0 .0 1 9 1 .0 5 .7 3 8 2 .5 - 4 2 .5 1 5 .4 1 6 .4 12996.4 277 Fert ilizers Bi r l aKK
470
62 90 To rrent Po w er , Ahmedabad 26136.4 7 9 .9 5 1 4 0 .5 1 0 3 .5 2117.4 3 6 6 .4 60 1 0 5 3 3 .4 6 .3 89 23134.5 1 2 .9 70 1 2 4 9 .6 1 8 8 .9 8 2 5 .0 1 0 .2 8 7 6 .7 7 3 2 .8 2 0 .7 1 7 .7 39464.7 131 Po w er To rrent
72
63 61 Dr Red d ys Lab o rat o ries, Hyderabad 25691.3 1 4 .4 7 4 4 1 .5 7 2 .2 4507.3 1 0 6 .5 32 2 3 2 8 6 .1 2 1 .2 44 24856.4 9 .1 67 6 6 6 .4 3 3 .5 4 6 4 6 .6 1 9 .6 1 5 4 1 .2 7 5 .4 2 1 .2 2 6 .0 92666.0 52 Ph ar m aceu t i cal s Dr. Red d y' s
253
64 59 Au r o b i n d o Ph ar m a, Hyderabad 25555.7 1 0 .7 3 9 9 7 .6 - 1 2 .1 1927.5 - 2 7 .2 67 2 6 8 2 7 .9 9 .2 39 32340.3 1 7 .0 55 4 3 9 .4 - 1 6 .7 3 5 2 2 .3 2 .1 6 8 4 .9 - 5 .6 7 .5 9 .2 56583.1 88 Ph ar m aceu t i cal s Au r o b i n d o
419
65 62 Ap o l l o Tyr es, Delhi/ NCR 24935.2 1 4 .1 3 3 9 7 .0 2 5 .2 1104.6 7 3 .0 125 1 2 8 7 4 .7 9 .6 73 20405.9 1 .3 74 2 8 5 .8 3 8 .5 2 6 1 9 .9 1 .8 3 2 2 .6 5 4 .3 9 .0 9 .8 26202.1 176 Tyres Sin g h Rau n aq
* 827
66 64 Rel i an ce Inf rast ruct ure, Mumbai 24852.4 2 0 .9 1 3 7 6 .3 - 4 8 .8 - 3221.2 998 4 6 3 4 .1 4 5 .4 180 28853.0 - 1 2 .1 59 1 0 8 2 .3 - 0 .4 7 .4 - 6 7 .3 7321.2 419 Po w er An i l A m b an i
620
67 63 Bh ar at H eav y Elect ricals, Delhi/ NCR 23966.7 1 3 .6 1 3 5 2 .0 9 .7 477.4 7 .0 231 2 6 8 2 8 .0 1 .2 38 41438.1 4 .5 45 1 3 9 .3 0 .0 5 7 0 0 .6 3 .3 2 .1 - 9 2 .0 1 .5 2 .4 51611.7 96 Capit al Goods Go vt of Ind ia
150
68 65 M RF, Chennai 23608.1 1 5 .2 2 6 4 9 .2 1 1 .5 769.0 1 4 .9 167 1 4 7 0 7 .5 4 .8 63 18170.7 2 .3 84 7 4 .2 1 6 .7 1 5 9 5 .4 6 .2 3 0 0 .8 2 6 .0 5 .4 7 .8 47603.2 114 Tyres M RF
945
69 80 Go d rej In d u st ries, Mumbai 23415.3 4 2 .3 2 9 2 7 .8 3 4 .4 974.8 4 9 .1 137 1 6 6 7 .7 4 2 .3 387 27708.4 2 7 .2 63 9 4 3 .0 2 2 .7 2 5 9 .9 - 1 0 .3 1 6 .4 9 .7 22275.6 199 Co ng lo m erat e Go d rej
117
70 60 Cip la, Mumbai 23324.6 2 .4 5 3 2 0 .0 1 4 .4 2801.9 1 1 .3 47 2 3 1 0 2 .0 1 2 .3 45 24478.9 1 0 .5 68 6 .1 7 0 .1 3 8 3 0 .1 8 .5 1 2 0 2 .9 2 8 .8 1 2 .8 1 7 .8 97521.5 47 Ph ar m aceu t i cal s Cipla
649
71 69 Ad an i Port s & SEZ, Ahmedabad 22453.2 1 6 .0 1 1 2 7 5 .0 - 0 .8 5310.2 8 .7 29 4 4 0 7 8 .5 6 .4 25 101519.2 1 1 .6 19 1 0 8 0 .1 2 .3 1 1 7 8 .2 5 1 .2 9 6 .4 - 8 7 .4 1 4 .7 9 .4 188890.4 25 Co nst ruct io n & Inf rast ruct ure Ad an i
658
72 85 Rain In d u st r i es, Hyderabad + 21731.3 4 2 .7 3 6 4 1 .3 4 2 .6 1438.7 1 4 8 .0 89 8 0 7 0 .8 3 7 .9 111 19052.0 1 9 .5 79 3 3 .6 0 .0 1 3 5 2 .1 9 .3 7 5 0 .4 2 8 .7 2 1 .7 1 6 .3 5116.0 500 Diversified In d i an Privat e
622
73 67 Rail Vikas N ig am , Delhi/ NCR 21436.6 6 .1 2 4 0 1 .8 1 9 .2 1420.6 2 8 .0 93 7 3 2 5 .1 1 5 .8 121 14379.8 8 .4 101 4 4 4 .1 1 6 .4 1 9 0 .7 - 6 .7 3 7 7 .6 1 8 .2 2 0 .8 1 7 .2 34793.5 143 Co nst ruct io n & Inf rast ruct ure Go vt of Ind ia
206
74 93 Rasht riya Ch em i cal s, Mumbai 21435.4 5 3 .8 1 7 1 9 .6 3 7 .0 966.3 3 7 .6 139 4 5 9 0 .1 1 8 .2 183 6719.6 - 5 .6 201 2 9 2 .4 3 7 .7 6 9 4 .8 5 .7 3 0 6 .8 2 8 .1 2 2 .8 2 1 .8 7453.7 413 Fert ilizers Go vt of Ind ia
130
75 49 NM DC, Hyderabad 20169.0 - 2 7 .6 8 0 5 7 .3 - 3 9 .6 5602.6 - 4 0 .6 28 2 2 6 0 6 .6 2 5 .6 46 24449.8 1 6 .1 69 1 9 3 4 .3 - 5 5 .2 1 5 3 0 .6 1 4 .5 2 1 0 8 .2 - 4 1 .0 2 2 .7 2 8 .5 50235.0 106 M i n i n g & M et als Go vt of Ind ia
62
76 81 Bh ar at Elect ro nics, Bengaluru 18408.5 1 5 .9 4 3 7 0 .6 2 2 .2 2984.4 2 4 .4 43 1 3 8 4 3 .9 1 2 .8 66 14906.7 4 .1 98 1 3 1 5 .8 2 0 .0 2 3 1 7 .3 8 .9 9 8 2 .6 2 1 .0 2 2 .5 2 7 .0 107836.9 42 Aero sp ace & Defence Go vt of Ind ia
242
77 82 Sh r ee Cem en t , Kolkata 18386.7 1 6 .9 3 4 1 8 .6 - 1 9 .6 1270.7 - 4 5 .5 104 1 8 5 9 5 .8 6 .8 51 21567.4 9 .2 72 3 6 0 .8 1 1 .1 9 7 7 .8 7 .0 2 2 5 .9 - 5 9 .3 7 .0 8 .5 96655.4 48 Cem ent & Bl d g M at erials Ban g u r
466
78 74 Tata Co m m u n i cat i o n s, Mumbai 18277.8 6 .9 4 7 5 7 .7 4 .2 1796.0 2 1 .2 71 1 4 8 7 .9 6 5 .5 427 13499.5 1 .1 108 5 9 8 .5 1 .4 3 5 9 7 .5 1 8 .3 2 9 6 .6 - 4 3 .2 4 6 .7 1 5 .6 49307.9 109 Tel eco m m u n i cat i o n s Tat a
85
79 71 Gu j ar at St at e Pet r o n et , Ahmedabad 18255.1 0 .5 3 8 1 5 .4 4 .6 1641.5 0 .2 78 6 2 0 9 .5 1 6 .7 141 9817.0 1 1 .0 145 2 8 2 .1 1 5 0 .0 2 6 7 .8 4 .5 7 8 2 .8 7 .9 2 7 .0 3 4 .2 15988.6 242 Oil & Gas Go vt of Gu jar at
284
80 79 ACC, Mumbai v 18209.1 1 0 .1 1 6 9 7 .0 - 4 6 .3 708.1 - 6 2 .0 177 1 4 1 3 5 .0 - 1 .2 64 14469.3 - 1 .2 100 1 3 9 .1 - 8 7 .2 8 2 9 .0 - 0 .9 2 5 3 .9 - 6 0 .5 5 .7 7 .9 37290.1 135 Cem ent & Bl d g M at erials Ad an i
91
81 66 Allcarg o Logist ics, Mumbai 18173.3 - 1 0 .5 1 2 5 8 .9 - 2 6 .5 629.6 - 3 2 .0 192 2 5 1 4 .2 - 9 .5 286 4018.8 - 2 7 .4 290 7 9 .9 8 .3 1 9 0 7 .1 1 4 .0 2 4 2 .1 - 1 5 .2 2 1 .9 2 0 .5 6709.1 442 Transp o rt & Logistics Allcarg o Gro up
369
82 97 Ji n d a l Sa w , Delhi/ NCR 18086.6 3 1 .6 1 8 1 8 .4 1 7 .0 632.4 5 3 .6 191 8 5 6 7 .2 8 .7 105 13164.4 - 3 .0 110 9 5 .9 5 0 .0 1 1 7 9 .2 1 6 .2 2 6 7 .2 8 .8 5 .8 1 0 .1 13643.2 268 M i n i n g & M et als PR Ji n d al
16
83 92 Havells In d i a, Delhi/ NCR 17842.2 2 4 .6 1 7 9 8 .3 - 7 .0 1071.7 - 1 0 .4 127 6 6 2 5 .5 1 0 .4 134 6996.6 4 .4 196 4 6 9 .9 0 .0 1 2 6 8 .3 2 4 .3 3 7 5 .3 - 8 .5 1 7 .0 2 1 .9 82708.5 63 Co nsum er Durab les Havells Gro up
102
84 84 N est le In d i a, Delhi/ NCR+ 17774.7 1 5 .6 3 8 1 3 .6 1 0 .5 2390.5 1 2 .8 53 2 4 5 9 .2 2 6 .3 293 5952.2 7 .9 217 2 1 2 1 .2 1 0 .0 1 6 3 5 .5 6 .9 8 6 5 .5 1 7 .1 1 0 8 .5 5 9 .5 233847.5 18 Co n su m er St ap l es Fo r ei g n - N est l e
** 517
85 88 Bo m b ay Bu r m ah Tr ad i n g Corp, Mumbai 17393.2 1 6 .3 9 4 5 .2 - 5 2 .2 - 1675.9 992 2 2 5 2 .9 4 6 .4 315 10674.7 - 6 .7 136 8 .4 0 .0 7 6 9 .3 1 9 .7 8 1 4 .2 1 5 .4 - 7 0 .0 1 7 .6 9589.4 349 Co ng lo m erat e W ad i a N usli N
86 102 NLC In d i a, Cuddalore 17368.7 3 2 .0 4 8 6 8 .3 - 1 1 .4 1395.7 2 7 .7 94 1 2 7 1 2 .0 5 .9 75 43797.4 5 .5 42 4 8 5 .3 1 3 3 .3 2 6 4 3 .6 - 5 .9 6 3 0 .7 - 5 7 .6 1 5 .8 1 2 .4 22891.0 194 Po w er Go vt of Ind ia 768
87 100 Tata Ch em icals, Mumbai 17275.0 2 8 .0 4 0 3 8 .0 4 4 .7 2317.0 8 4 .2 56 1 8 8 0 0 .0 8 .4 50 27943.0 3 .6 62 4 4 6 .3 4 0 .0 1 6 9 1 .0 9 .8 2 8 8 .0 7 .9 1 2 .9 1 1 .5 25379.9 180 Chem icals Tat a 425
88 96 Quess Corp, Bengaluru 17238.3 2 5 .0 6 6 8 .7 2 .7 224.4 - 7 .0 398 2 4 0 6 .7 4 .3 301 3854.4 7 .3 301 1 1 8 .6 1 0 0 .3 1 4 6 5 9 .6 2 5 .4 6 1 .5 - 4 2 .3 7 .4 9 .1 6907.7 433 Tech n o l o g y- So f t w ar e In d i an Privat e 345
89 94 KE i n t e r n a t i o n a l , Mumbai 17214.3 2 3 .9 9 7 8 .2 0 .9 176.0 - 4 7 .0 457 3 7 7 1 .4 4 .2 215 7179.4 7 .2 191 7 7 .1 - 2 5 .0 1 3 5 6 .2 7 .8 - 1 5 .1 4 .8 1 1 .8 15829.1 244 Capit al Goods Go e n k a RP 344
90 72 Zyd us Lif esciences, Ahmedabad 17185.9 - 4 .8 3 4 3 7 .7 - 4 2 .0 1960.3 - 5 6 .3 66 1 5 3 4 3 .3 2 .7 59 19037.9 - 1 1 .9 80 6 0 7 .2 1 3 7 .2 2 7 6 5 .6 1 3 .6 5 8 7 .8 1 4 .9 1 4 .1 1 6 .3 62953.9 79 Ph ar m aceu t i cal s Cad ila 178
91 91 Br i t an n i a In d u st r i es, Bengaluru 16970.0 1 7 .6 3 4 2 7 .8 4 1 .5 2321.8 5 2 .3 55 3 5 0 4 .0 3 8 .5 225 6617.4 2 9 .4 203 1 7 3 4 .5 2 7 .4 6 5 8 .4 2 1 .4 7 1 6 .5 2 7 .4 6 6 .6 4 8 .2 114248.3 40 Co n su m er St ap l es W ad i a N usli N 139
92 78 Gu jar at Gas, Ahmedabad 16866.4 1 .9 2 5 2 2 .6 1 5 .6 1528.4 1 8 .7 83 7 0 2 8 .0 2 4 .8 127 7306.4 1 4 .5 188 4 5 7 .8 2 3 2 .5 2 0 1 .0 2 .3 4 9 9 .2 1 6 .7 2 4 .2 3 0 .6 29451.0 162 Oil & Gas Go vt of Gu jar at 1
93 103 A PLA p o l l o Tu b es, Delhi/ NCR 16795.6 2 8 .8 1 0 6 8 .7 8 .4 641.9 3 .7 186 3 0 0 5 .6 2 2 .0 251 4019.1 2 8 .1 289 1 3 8 .7 5 8 .3 2 0 6 .2 3 4 .7 2 2 1 .5 3 .8 2 3 .5 2 6 .0 45247.3 119 M i n i n g & M et als Su d esh Gro up 70
94 95 Si em en s, Mumbai • 16795.0 2 1 .5 2 3 4 6 .2 3 2 .3 1542.9 4 1 .7 82 1 1 6 0 2 .6 1 2 .2 83 12111.5 8 .5 116 3 5 6 .0 2 5 .0 1 8 0 5 .7 1 0 .2 4 4 9 .8 2 3 .9 1 3 .9 1 4 .8 129425.5 37 Capit al Goods Fo r ei g n - Si em en s 36
95 86 Ap o llo Ho sp it als En t erp rise, Chennai 16727.3 1 0 .7 2 1 3 9 .9 - 1 6 .3 819.1 - 2 2 .4 159 5 8 5 5 .7 9 .7 146 11223.1 8 .6 128 2 1 5 .7 2 7 .7 2 1 4 3 .8 2 0 .0 2 5 6 .2 - 4 6 .3 1 5 .0 1 4 .2 75810.5 67 Healt h care Re d d y P 446
96 75 Lu p i n , Mumbai 16638.8 - 1 .0 1 8 7 1 .5 3 3 6 .0 430.1 257 1 2 3 8 6 .2 2 .5 76 17710.4 4 .0 85 1 8 2 .0 0 .1 3 0 8 7 .2 3 .3 2 6 8 .8 9 6 .0 3 .6 5 .7 55118.0 91 Ph ar m aceu t i cal s Lup in 348
97 87 Kal p at ar u Pro ject s In t er n at i o n al , Mumbai 16539.8 1 0 .1 1 6 5 4 .4 5 .4 440.8 - 1 8 .4 252 4 7 4 7 .4 1 4 .7 177 9463.9 - 2 .0 148 1 1 3 .7 1 7 .5 1 4 4 6 .9 1 1 .4 2 0 6 .5 2 8 .0 8 .6 1 2 .3 10702.0 322 Capit al Goods Kal p at ar u 484
98 99 CESC, Kolkata 15817.7 1 6 .7 3 8 5 8 .4 - 4 .7 1342.8 - 1 .1 97 1 0 4 3 1 .6 4 .7 91 30070.7 - 0 .3 56 5 9 9 .5 0 .0 1 2 5 9 .5 3 .6 3 4 1 .8 - 3 3 .2 1 3 .1 9 .9 13271.3 273 Po w er Go en k a San j i v 769
99 118 NCC, Hyderabad 15642.1 3 8 .3 1 6 0 2 .7 2 3 .3 609.2 2 6 .3 199 5 8 4 8 .2 1 0 .1 147 7225.4 3 .4 190 1 3 8 .1 1 3 .2 5 4 5 .7 2 0 .6 2 3 8 .6 6 9 .7 1 1 .0 1 9 .7 10111.5 333 Co nst ruct io n & Inf rast ruct ure NCC 276
100 111 Bo sch , Bengaluru 15542.2 2 4 .9 2 2 7 9 .9 2 3 .0 1425.5 1 7 .0 92 1 1 0 0 5 .1 3 .0 86 11244.9 2 .4 127 1 4 1 6 .0 1 2 8 .6 1 1 4 5 .9 7 .4 4 5 7 .9 6 1 .9 1 3 .1 1 7 .1 60746.6 81 Au t o An ci l l ar i es Fo r ei g n - Ro b er t Bo sch 31
101 76 Exid e In d u st r i es, Kolkata 15513.2 - 7 .6 1 7 1 8 .4 - 6 6 .5 822.7 - 8 1 .2 158 1 1 1 2 3 .3 5 .5 85 11874.5 6 .2 119 1 7 0 .0 0 .0 1 0 0 2 .6 1 0 .6 3 1 4 .8 1 8 .2 7 .6 1 0 .6 23451.9 189 Au t o An ci l l ar i es Rah ej a Raj an 160
102 121 Eicher M o t o rs, Delhi/ NCR 15415.7 4 0 .8 4 3 5 3 .9 6 2 .9 2913.9 7 3 .8 44 1 4 9 9 0 .3 1 8 .9 61 15829.4 2 0 .8 90 1 0 1 2 .0 7 6 .3 1 0 0 1 .9 2 2 .0 8 8 5 .7 6 8 .4 2 1 .1 2 6 .5 101831.2 46 Au t o m o b i l e Eicher 75
103 106 Tu b e In vest m en t s of In d i a, Chennai 15356.4 2 0 .7 2 2 0 1 .3 3 7 .8 955.6 2 4 .3 141 2 9 4 5 .8 2 1 .9 259 5819.3 4 5 .6 218 6 7 .6 0 .1 1 2 0 4 .8 1 6 .7 4 2 2 .6 1 6 2 .8 3 7 .4 3 3 .1 63319.0 77 M i n i n g & M et als M u r u g ap p a Gro up 110
104 98 Uf lex, Delhi/ NCR 14957.2 1 0 .0 1 7 2 8 .5 - 2 2 .9 480.7 - 5 6 .2 229 7 5 0 5 .5 1 2 .1 117 13331.8 1 5 .1 109 2 1 .7 0 .0 1 0 7 9 .2 1 6 .7 1 7 5 .3 - 3 8 .0 8 .3 1 0 .3 3246.8 606 Packag in g Chat urved i Ash o k 570
105 105 SRF, Delhi/ NCR 14954.1 1 6 .6 3 6 0 4 .1 1 2 .0 2162.3 1 4 .5 58 1 0 3 2 7 .1 2 0 .6 92 15097.1 2 1 .1 95 2 1 4 .2 - 5 7 .0 8 1 3 .8 4 .3 6 6 1 .7 - 5 .0 2 2 .9 2 2 .0 69040.3 70 Diversified SRF 264
106 108 Ad an i Energ y So l u t i o n s, Ahmedabad 14876.0 1 8 .6 6 1 0 0 .9 1 1 .1 1256.3 4 .3 107 1 0 5 6 4 .9 1 9 .8 88 47164.8 1 4 .0 40 9 8 6 .7 1 1 .5 4 3 1 .1 - 7 .2 1 1 .9 1 0 .2 96269.5 50 Po w er Ad an i 818
107 112 JK Tyre & In d u st r i es, Delhi/ NCR 14742.3 1 9 .0 1 2 7 2 .8 1 4 .3 262.5 2 5 .0 357 3 2 9 6 .4 1 9 .9 234 9124.1 3 .4 157 4 9 .3 3 3 .3 1 2 2 0 .4 1 3 .4 1 4 6 .5 3 4 .8 9 .6 1 0 .3 8762.1 373 Tyres Si n g h an i a H ar i S 540

108 134 Ap ar In d u st r i es, Mumbai 14724.3 5 1 .9 1 3 0 3 .0 1 1 3 .4 637.7 1 4 8 .4 189 2 2 3 6 .4 3 0 .4 321 2629.9 2 5 .8 385 1 5 3 .1 1 6 6 .7 2 2 0 .5 2 7 .8 2 1 6 .8 1 5 4 .3 3 2 .3 5 0 .8 21675.1 203 Capit al Goods Ap ar Gro up 52

109 162 In d r ap r ast h a Gas, Delhi/ NCR 14607.2 8 0 .0 2 5 1 2 .6 9 .5 1639.7 9 .1 79 7 9 3 1 .2 4 .6 114 8095.7 4 .4 173 9 1 0 .0 1 3 6 .4 1 8 8 .2 7 .0 4 8 2 .7 7 .0 2 1 .1 2 7 .1 28814.5 165 Oil & Gas Go vt of Ind ia 4

110 89 N at io n al A l u m i n i u m Co, Bhubaneswar 14507.2 - 0 .6 2 5 7 3 .9 - 4 6 .5 1434.7 - 5 1 .4 90 1 3 1 2 6 .4 4 .6 70 13836.8 3 .8 104 8 2 6 .5 - 3 0 .8 1 8 4 2 .0 - 2 2 .8 4 1 0 .5 - 5 9 .1 1 1 .2 1 3 .7 18035.7 227 M i n i n g & M et als Go vt of Ind ia 136

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

24 M arch 202 4 23
RANKED BY TOTAL REVENUES EH1000
RANK COMPANY, CITY yutrponmlkihgedcbaYVUTRPNMLKIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 %CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 %CHG % ~ CR RANK RANK
111 107 Tat a Co nsum er Pro d u ct s, Kolkata 14468.7 1 4 .8 2 1 8 4 .8 2 0 .9 1203.8 2 8 .6 114 1 5 4 0 4 .7 1 0 .3 58 18205.0 8 .1 83 7 8 5 .0 4 0 .8 1 1 2 0 .4 6 .9 4 4 7 .0 1 8 .6 7 .7 9 .7 88434.5 56 Co n su m er St ap l es Tata 371
112 1 0 4 Po lycab In d i a, Mumbai 14206.4 1 0 .5 1 9 7 6 .2 3 8 .7 1270.0 3 9 .8 105 6 5 9 3 .8 1 9 .5 135 6884.1 2 0 .6 198 2 9 9 .5 4 3 .2 4 5 6 .8 1 2 .3 4 2 5 .0 5 7 .0 2 1 .1 2 8 .1 79444.0 64 Co n su m er Du r ab l es In d i an Privat e 21
113 113 M p h asi s, Bengaluru 13960.1 1 5 .2 2 5 9 5 .6 1 3 .9 1637.9 1 4 .5 80 7 9 3 4 .8 1 4 .3 113 8907.1 7 .3 159 9 4 2 .1 9 .0 8 0 7 5 .8 1 4 .8 5 3 5 .1 1 1 .0 2 2 .0 2 6 .4 44827.3 121 Tech n o l o g y- So f t w ar e Foreign - H P 48

114 101 BASF In d i a, Mumbai 13891.5 3 .6 7 3 9 .4 - 2 2 .0 402.9 - 3 2 .3 267 2 7 0 1 .2 1 5 .6 275 2898.1 1 4 .9 364 3 4 .6 3 3 .3 3 9 2 .1 3 .0 1 4 0 .5 - 1 4 .9 1 6 .0 2 0 .6 12114.2 296 Chem icals Foreign - BA SF 8
*
115 1 4 4 Ad it ya Birla Fash i o n , Mumbai 13781.9 5 0 .1 1 6 8 0 .6 3 5 .4 - 36.0 920 3 3 4 0 .6 2 1 .1 231 11418.4 4 9 .5 123 1 5 6 3 .4 3 4 .9 - 2 3 .0 21131.7 207 Ret ail Birla AV 759
116 115 Dalm ia Bh ar at , Delhi/ NCR 1 3 6 5 5 .0 1 8 .3 2 8 6 0 .0 1 0 .1 1035.0 2 6 .8 131 1 5 5 1 2 .0 - 3 .0 57 19889.0 1 .6 76 1 6 6 .5 0 .0 7 7 1 .0 3 .6 2 4 2 .0 - 2 3 .2 6 .8 7 .9 41602.8 127 Cem en t & Bl d g M at er i al s Dalm ia - Bh ar at 471
117 110 Gl en m ar k Ph ar m aceu t i cal s, Mumbai 1 3 6 3 2 .0 9 .2 1 8 2 9 .3 - 1 7 .8 297.3 - 6 8 .4 332 9 1 0 8 .6 4 .3 101 14498.8 9 .8 99 7 0 .6 0 .0 2 7 8 1 .0 1 3 .6 4 9 1 .1 9 .7 6 .9 1 4 .3 22254.7 200 Ph ar m aceu t i cal s Gl en m ar k 578
118 146 Var u n Beverag es, Delhi/ NCR + 1 3 5 5 6 .5 5 0 .8 2 8 4 4 .9 6 3 .0 1497.4 1 1 5 .8 84 4 9 8 9 .3 2 5 .9 166 9190.9 1 9 .7 156 2 2 7 .3 1 1 0 .0 1 2 1 6 .6 2 0 .7 4 7 3 .5 8 1 .7 3 3 .8 2 6 .4 133527.6 34 Co n su m er St ap l es Ravi Jai p u r i a 404
119 159 Parad eep Ph o sp h at es, Bengaluru 1 3 4 4 1 .1 6 2 .1 8 9 2 .6 2 5 .5 304.2 - 2 3 .7 327 3 5 0 4 .7 5 7 .5 224 8178.2 5 7 .0 171 4 0 .7 - 2 1 3 .2 5 3 .9 1 2 2 .0 - 1 0 .7 1 0 .6 1 0 .7 5387.5 491 Fert ilizers Birla KK 824
120 116 Bh ar at Fo rg e, Pune 1 3 3 5 3 .2 1 6 .9 1 8 6 1 .2 - 1 8 .1 528.4 - 5 1 .2 212 6 6 6 9 .5 2 .4 133 15001.7 1 5 .0 97 3 2 6 .0 0 .0 1 5 6 3 .1 6 .7 3 1 8 .6 5 .0 6 .9 7 .3 51739.6 95 Au t o An ci l l ar i es Kal yan i 580
121 109 Go d rej Co nsum er Pr o d u ct s, Mumbai 1 3 2 7 1 .4 6 .3 2 5 5 7 .5 2 .8 1702.5 - 4 .5 75 1 3 7 9 4 .2 1 9 .4 67 15028.8 1 2 .4 96 1 1 1 1 .5 0 .7 4 3 0 .3 1 5 .7 1 3 .4 1 6 .4 103551.3 43 Co n su m er St ap l es Go d rej 196
122 1 2 4 Sh yam M et alics & Energ y, Kolkata 1 2 9 6 5 .0 2 1 .9 1 5 9 8 .0 - 3 9 .9 857.6 - 5 0 .3 155 6 7 7 6 .8 1 6 .2 131 8578.4 3 0 .5 164 4 5 .9 - 6 3 .6 3 4 5 .2 4 0 .0 1 9 3 .4 - 6 9 .8 1 3 .1 1 5 .0 13394.2 270 M i n i n g & M e t al s In d i an Privat e 176

123 126 Ast er DM Heal t h car e, Kochi 1 2 2 9 2 .3 1 7 .3 1 7 0 5 .2 7 .6 424.9 - 1 9 .2 260 3 6 6 1 .3 2 0 .0 219 10809.1 1 6 .8 134 3 9 6 5 .2 2 1 .5 5 9 .6 6 6 .5 1 2 .4 9 .2 17859.7 232 Healt h care In d i an Privat e 628

124 122 Dixo n Tech n o lo g ies, Delhi/ NCR 1 2 1 9 3 .7 1 2 .8 5 2 3 .5 3 4 .9 255.5 3 4 .4 362 1 2 8 5 .2 2 9 .0 475 1771.4 4 .6 522 1 7 .9 5 0 .5 2 5 1 .7 2 7 .2 8 9 .7 3 9 .3 2 2 .4 2 3 .6 33666.5 150 Co n su m er Du r ab l es In d i an Privat e 76

125 119 Dab u r In d i a, Delhi/ NCR 1 2 0 6 6 .1 6 .9 2 6 0 7 .9 1 .9 1707.2 - 1 .8 73 8 5 0 5 .1 2 .0 106 10216.4 7 .8 141 9 2 1 .3 0 .2 1 1 3 7 .0 5 .3 5 1 7 .4 - 1 .7 1 9 .6 2 3 .3 95300.6 51 Co n su m er St ap l es Dab ur 157

126 129 Pid ilit e In d u st r i es, Mumbai 1 1 9 1 7 .1 1 6 .7 2 0 4 0 .6 7 .7 1273.3 5 .4 103 6 9 7 8 .6 1 2 .5 128 7697.6 1 1 .4 183 5 5 9 .1 1 0 .0 1 2 4 5 .6 1 2 .0 4 3 4 .4 6 .7 1 8 .9 2 4 .2 127017.0 38 Co n su m er St ap l es Parekh BK 43

127 127 DCM Sh r i r am , Delhi/ NCR 1 1 9 1 6 .9 1 5 .2 1 7 2 6 .1 - 8 .6 910.8 - 1 4 .7 149 6 1 9 3 .8 1 2 .6 143 8173.6 1 1 .4 172 2 1 9 .5 - 4 .8 8 9 0 .6 1 3 .7 5 0 2 .3 0 .7 1 5 .6 1 8 .9 15196.0 250 Diversified DCM Aj ay 156

128 188 W el sp u n Corp, mumbai 1 1 7 9 2 .3 7 8 .6 8 7 9 .8 - 1 3 .5 206.7 - 5 2 .9 410 4 6 0 1 .1 6 .3 182 8282.7 2 5 .8 170 1 3 0 .8 0 .2 5 4 1 .1 4 1 .1 1 3 4 .5 - 3 7 .9 3 .2 6 .4 12691.0 284 M i n i n g & M e t al s W el sp u n 646

129 150 Bi o c o n ,Ben g a l u r u 1 1 7 0 4 .2 3 5 .3 2 4 2 9 .2 3 0 .3 462.7 - 2 8 .6 240 1 3 2 4 4 .1 7 9 .1 69 41047.6 1 5 0 .2 46 1 8 0 .1 2 0 0 .0 2 1 8 1 .0 1 6 .0 2 5 4 .1 2 0 .1 6 .6 5 .7 28845.0 164 Ph ar m aceu t i cal s Bio co n 776

130 1 6 4 Deep akFer t i l i zer s & Pet ro , Pune 1 1 6 7 1 .1 4 8 .0 2 2 4 9 .5 6 0 .7 1210.1 7 8 .4 113 4 9 4 0 .7 3 1 .2 169 8890.2 3 3 .4 160 1 2 6 .2 1 6 .3 5 9 4 .4 2 0 .8 5 9 4 .6 8 2 .9 2 7 .3 2 5 .9 8083.9 398 Fert ilizers CKM eh t a 571
131 155 U n o M i n d a , Delhi/ NCR 1 1 6 0 6 .6 3 6 .2 1 3 9 0 .8 3 7 .2 653.6 8 3 .7 184 3 8 7 7 .5 2 4 .6 212 5723.2 2 5 .4 222 8 6 .0 1 0 0 .6 1 4 6 0 .5 2 1 .0 1 9 1 .1 3 0 .2 1 8 .4 1 8 .7 36023.3 138 Au t o An ci l l ar i es In d i an Privat e 227
132 1 4 1 Gu j ar at St at e Fert ilizers & Ch em , Vadodara 1 1 5 7 1 .0 2 2 .6 1 7 3 9 .7 1 5 .7 1265.9 4 0 .9 106 1 2 0 3 8 .3 2 .3 80 12354.6 1 .5 114 3 9 8 .5 3 0 0 .0 6 6 8 .1 0 .1 2 7 6 .8 - 3 3 .6 1 0 .6 1 2 .7 7962.2 401 Fert ilizers Govt o f Gujarat 155
133 131 SIS, Delhi/ NCR 1 1 3 8 6 .3 1 2 .5 5 3 4 .5 - 3 .5 346.4 6 .6 297 2 3 3 3 .3 1 2 .8 309 4161.0 1 2 .7 285 9 2 0 1 .2 1 7 .8 - 6 1 .6 1 5 .7 1 0 .2 6568.2 447 M i scel l an eo u s In d i an Privat e 408
134 130 NHPC, Delhi/ NCR 1 1 3 8 6 .1 1 2 .0 6 9 4 8 .9 3 9 .1 3890.0 1 0 .4 36 3 2 0 8 4 .2 0 .1 32 73756.8 8 .1 28 1 8 5 8 .3 2 .2 1 8 4 0 .2 - 2 .1 9 7 6 .2 1 1 .8 8 .1 55903.9 89 Po w er Govt o f Ind ia 701
135 117 Al k em Lab o rat o ries, Mumbai 1 1 3 5 3 .0 0 .2 1 7 2 2 .6 - 2 1 .7 984.2 - 4 0 .2 136 8 6 5 5 .6 2 .7 104 10986.1 - 5 .7 133 5 9 7 .8 4 7 .1 2 1 3 1 .4 8 .6 2 9 8 .0 8 1 .7 1 1 .4 1 2 .5 50796.7 101 Ph ar m aceu t i cal s Al kem 185
136 137 CEAT, Mumbai 1 1 3 3 5 .7 1 8 .2 9 6 5 .6 3 1 .0 186.2 1 6 1 .5 444 3 4 2 2 .3 5 .3 227 5801.8 3 .9 219 4 8 .5 2 9 9 .8 7 6 6 .8 9 .4 7 1 .8 1 9 5 .3 6 .1 9 .3 8864.0 367 Tyres Go e n k a RP 294
137 183 Prest ig e Est at es Pro ject s, Bengaluru 1 1 3 2 7 .9 6 5 .5 2 8 6 8 .0 1 3 .1 941.8 - 1 8 .1 146 9 6 9 2 .1 1 2 .1 97 19580.3 1 7 .6 77 6 0 .1 0 .0 6 0 3 .4 3 3 .8 3 4 7 .5 1 8 .0 8 .6 1 0 .4 36204.4 137 Realt y Prest ige Gro up 712

138 132 Un i t ed Sp i r i t s, Bengaluru 1 1 2 1 3 .4 1 3 .9 1 6 6 5 .0 1 2 .6 1136.3 3 7 .1 121 5 9 9 9 .5 1 9 .2 145 6195.1 1 1 .1 212 6 1 0 .0 - 6 .6 1 5 2 .8 - 4 4 .6 1 5 .2 1 7 .4 76684.0 66 D i st i l l er s& W i n er i es Fo r eig n - Diag eo 273

139 136 Dilip Bu i l d co n , Bhopal 1 1 1 6 2 .1 1 6 .4 1 4 0 3 .3 8 6 .3 0.9 887 4 0 0 4 .8 1 2 .8 204 11209.8 - 1 3 .8 129 1 .5 0 .0 1 9 0 .7 - 5 .4 1 0 4 .8 - 7 .5 5 .1 5317.5 493 Realt y Dilip Bu i l d co n 723

140 123 M arico , Mumbai 1 1 0 0 7 .0 2 .3 1 9 5 4 .0 9 .8 1302.0 6 .3 101 3 6 4 2 .0 1 0 .7 220 4697.0 2 1 .8 264 5 8 0 .5 - 5 1 .4 6 5 3 .0 1 1 .4 4 2 1 .0 2 1 .7 3 7 .0 4 2 .1 69271.9 69 Co n su m er St ap l es M arico 50
141 149 JSW Energ y, Mumbai 1 1 0 0 6 .3 2 5 .9 3 9 5 6 .4 - 4 .6 1477.8 - 1 4 .5 86 1 8 5 2 3 .4 6 .4 52 44174.0 6 3 .8 41 3 2 8 .1 0 .1 3 0 7 .6 1 6 .4 4 6 2 .7 - 6 .5 7 .2 7 .2 67260.0 74 Po w er Saj j an Ji n d al 778
142 166 Ircon In t er n at i o n al , Delhi/ NCR 1 0 7 3 5 .7 3 7 .4 1 1 1 7 .0 3 2 .1 765.2 2 9 .2 168 5 1 9 8 .4 1 1 .4 160 8322.8 1 4 .6 168 2 8 2 .2 2 0 .0 2 8 4 .1 6 .6 1 2 5 .8 3 0 .5 1 5 .5 1 3 .0 14721.8 257 Co nst ruct io n & Inf rast ruct ure Govt o f Ind ia 544
143 143 Berg er Paint s In d i a, Kolkata 1 0 7 1 2 .7 1 6 .3 1 5 2 5 .6 9 .0 859.4 3 .2 154 4 4 8 6 .0 1 4 .4 185 5775.2 1 4 .7 220 3 1 0 .9 3 .2 6 0 9 .2 1 2 .2 3 0 1 .9 4 .4 2 0 .4 2 3 .3 66830.0 75 Co n su m er St ap l es Dhing ra 104
144 148 G N FC, Bharuch 1 0 6 7 3 .6 2 0 .8 2 2 3 9 .8 - 1 3 .6 1471.5 - 1 4 .0 87 9 1 0 5 .1 1 4 .0 102 10060.6 1 2 .5 143 4 6 6 .3 2 0 0 .0 6 0 5 .6 2 9 .4 4 6 7 .6 - 2 1 .3 1 7 .1 2 0 .4 10128.6 332 Fert ilizers Govt o f Gujarat 116
145 138 N u vo co Vist as Co rp o rat io n, Mumbai 1 0 6 2 3 .0 1 1 .5 8 1 7 .8 - 4 6 .9 15.9 - 5 0 .6 845 8 8 3 9 .0 0 .2 103 13896.4 - 4 .6 103 6 0 5 .5 4 .4 - 6 6 1 .1 4 .7 1 .9 12868.2 280 Ce m e n t & Bl d g M at erials N irm a 682
146 145 Am ar a Raja Energ y & M o b ilit y, Hyderabad 1 0 4 1 9 .5 1 4 .5 1 3 9 6 .5 2 6 .7 694.5 3 5 .5 179 5 2 9 9 .2 1 6 .4 158 5632.5 1 6 .1 225 1 0 4 .2 3 5 .6 5 9 1 .8 1 8 .5 2 5 2 .7 4 1 .5 1 4 .1 1 8 .5 11680.9 306 Aut o An cillaries In d i an Privat e 29
147 128 Var d h m an Text iles, Ludhiana 1 0 3 5 6 .5 0 .6 1 5 5 6 .5 - 3 8 .7 795.2 - 4 8 .6 162 8 4 7 4 .9 1 2 .0 107 10277.0 5 .7 140 1 0 1 .2 - 8 9 .7 7 6 7 .2 5 .2 2 5 5 .2 - 5 0 .9 9 .9 1 1 .6 11051.4 316 Text ile & Gar m en t s Oswal Shri Paul 238

148 142 TVS Su p p l y Ch ai n So l u t i o n s, Mumbai 1 0 3 5 6 .1 1 0 .6 7 6 1 .6 2 0 .2 39.8 775 6 8 7 .1 1 .9 683 4181.3 9 .7 284 2 0 9 3 .0 1 0 .8 - 1 .7 3 .8 5 .8 9269.9 357 Tran sp o rt & Logistics TVS R Ram ach an d r 505

149 120 H i n d u st an Co nst ruct io n Co, Mumbai 1 0 3 4 2 .7 - 7 .4 1 0 5 0 .5 - 3 6 .5 - 27.8 915 - 7 1 4 .4 - 973 6632.6 1 2 7 .7 202 8 3 6 .7 - 1 0 .2 - 6 2 .5 4403.0 530 Co nst ruct io n & Inf rast ruct ure W al ch an d s 898

150 147 Bal k r i sh n a In d u st ries, Mumbai 1 0 1 0 1 .2 1 2 .4 2 0 5 3 .9 - 1 6 .1 1057.4 - 2 6 .3 128 7 5 5 6 .9 9 .0 116 11060.2 1 6 .2 132 3 0 9 .3 - 4 2 .9 4 5 9 .4 6 .8 3 7 7 .4 - 3 1 .0 1 4 .6 1 4 .4 49565.7 107 Tyres Po d d ar 285
*
151 172 Sp iceJet , Delhi/ NCR 9 9 0 4 .3 2 9 .9 1 8 .6 - 4 8 .1 - 1512.8 991 - 5 8 5 0 .0 - 995 2001.1 - 5 6 .8 477 8 8 0 .0 1 9 .7 3028.8 624 Airlin es In d i an Privat e 744

152 1 6 1 J K Cem ent s, Kanpur 9 8 3 2 .9 2 0 .6 1 4 0 1 .7 - 1 3 .7 426.3 - 3 8 .0 259 4 7 3 1 .2 8 .5 178 10568.8 1 7 .8 137 1 1 5 .9 0 .0 6 3 7 .8 1 4 .1 2 1 2 .2 - 3 6 . 4 9 .3 9 .7 26852.0 173 Ce m e n t & Bl d g M at erials Si n g h an i a Gau r H 572
153 139 M acro t ech Develo p ers, Mumbai 9 6 1 1 .2 0 .9 1 0 2 7 .3 - 5 8 .6 486.7 - 5 9 .5 228 1 2 1 6 9 .7 4 .8 79 21996.8 - 8 .5 71 9 6 .4 - 4 2 3 .9 1 9 .6 - 3 7 .0 - 1 0 .6 82739.4 61 Co nst ruct io n & Inf rast ruct ure Lo d ha M P 640
154 154 G R In f rap ro ject s, Udaipur 9 5 7 0 .0 1 2 .2 2 6 4 1 .0 4 6 .7 1454.4 7 4 .8 88 6 2 6 5 .1 3 0 .2 140 11984.3 1 8 .5 117 6 4 7 .7 1 0 .4 4 9 7 .9 8 6 .5 2 6 .3 2 1 .7 11149.5 314 Realt y In d i an Privat e 764
155 153 Go d rej Ag ro vet , Mumbai 9 5 5 3 .2 1 1 .3 6 6 2 .3 - 1 4 .9 301.9 - 2 5 .0 329 1 9 3 1 .5 4 .5 354 3808.7 - 2 .4 305 1 8 2 .6 0 .0 4 5 3 .4 3 .2 8 2 .3 - 3 2 . 8 1 0 .5 1 0 .6 9609.7 348 Food Pro cessing Go d rej 272
156 151 To rrent Ph ar m aceu t i cal s, Ahmedabad 9 4 9 9 .1 1 0 .1 2 8 8 7 .2 3 4 .7 1245.2 6 0 .2 108 6 1 9 8 .1 4 .1 142 11982.0 1 5 .2 118 7 4 4 .6 - 8 .3 1 6 7 7 .7 9 .9 6 0 1 .9 3 4 .1 2 0 .5 1 9 .5 68781.9 72 Ph ar m aceu t i cal s To rrent 448
157 158 Vo lt as, Mumbai 9 3 9 3 .7 1 3 .2 3 7 6 .4 - 5 0 .5 135.0 - 7 3 .2 513 5 4 1 0 .4 - 0 .9 156 6216.6 3 .8 210 1 4 0 .6 - 2 2 .7 6 6 7 .2 8 .0 1 7 0 .9 - 1 0 . 7 4 .5 9 .5 28289.8 167 Diversified Tata 179
158 160 Su p r em e In d u st r i es, Mumbai 9 3 3 8 .8 1 3 .8 1 3 8 2 .7 - 5 .7 865.3 - 1 0 .6 153 4 4 0 2 .1 1 4 .5 189 4482.0 1 4 .4 270 3 3 0 .3 8 .3 3 2 9 .4 1 0 .2 2 4 6 .0 - 6 .6 2 1 .0 2 6 .7 55184.0 90 Pet ro ch em icals & Plast ics Tap aria 5
*
159 202 Sh r ee Ren u k a Su g ars, Mumbai 9 2 2 3 .8 4 6 .9 6 4 9 .5 4 0 .6 - 197.0 953 - 1 9 7 1 .7 4755.0 1 .5 262 1 6 6 .7 1 7 .6 1 7 .1 - 10658.4 324 Sug ar In d i an Privat e 604
160 177 ABB In d i a, Bengaluru + 9 1 8 7 .8 2 6 .8 1 4 7 3 .5 7 6 .9 1016.2 9 5 .5 133 4 9 3 9 .4 2 2 .1 170 4980.0 2 0 .4 249 1 1 6 .5 5. 6 3 5 .3 8 .0 3 3 7 .2 7 5 .8 1 7 .0 2 2 .9 92316.2 53 Capit al Go o d s Foreign - A BB 10
161 247 Tr en t , Mumbai 9 0 7 7 .7 7 7 .4 1 4 5 4 .8 9 4 .8 444.7 3 2 0 .2 250 2 5 2 8 .0 9 .1 285 7136.0 0 .1 193 7 8 .2 2 9 .4 6 5 5 .2 6 4 .2 1 5 8 .4 1 0 6 .8 1 1 .6 1 1 .4 88970.6 55 Ret ail Tata 627
162 173 Birla Co rp o rat io n, Kolkata 8 9 4 9 .4 1 7 .9 8 9 1 .7 - 2 4 .3 40.5 - 8 9 .8 771 5 0 5 9 .3 - 0 .9 165 11284.2 1 .0 125 1 9 .3 - 7 5 .0 5 2 4 .4 1 1 .0 2 .6 - 9 8 . 1 0 .9 3 .8 10189.9 331 Ce m e n t & Bl d g M at erials Birla M P 676
163 170 En d u r an ce Te ch n o l o g i e s ,A u r a n g a b a d 8 9 4 4 .1 1 6 .4 1 0 7 1 .4 1 0 .0 479.6 4 .1 230 4 4 1 2 .1 1 2 .6 188 5089.1 1 5 .2 242 9 8 .5 1 2 .0 7 6 3 .6 1 0 .0 1 4 9 .7 1 9 .3 1 1 .5 1 3 .7 23317.5 190 Aut o An cillaries In d i an Privat e 46
164 181 CIE Au t o m o t i ve In d i a, Mumbai + 8 9 3 6 .1 2 7 .7 4 2 2 .8 - 5 6 .6 - 136.2 ** 946 5 0 9 8 .5 - 1 .9 163 6305.4 - 1 1 .2 208 9 4 .8 0 .0 9 0 2 .2 - 2 .6 2 4 0 .1 - 1 2 . 1 - 1 .7 1 4 .0 18048.5 226 Aut o An cillaries M ah i n d r a 212
165 169 Relian ce Po w er , Mumbai 8 9 1 9 .6 1 5 .9 3 2 2 0 .4 1 0 .0 - 470.8 974 9 9 0 3 .6 - 2 .4 94 35230.9 - 4 .7 52 1 8 2 .0 3 .2 6 3 .9 4 6 .1 7829.5 406 Po w er Anil A m b an i 904

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s

26 Business Standard
M arch 2 02 4 27
RANKED BY TOTAL REVENUES
EH1000
RANK COMPANY, CITY yutsrponmlkihgedcbaYVTRPNMKJIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECTTAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 % CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
166 175 Escorts Ku b o t a, Delhi/ NCR 8873.3 1 7 .9 9 9 7 .9 - 1 2 .5 636.8 - 1 3 .5 190 8 1 9 0 .6 7 .7 109 8321.0 7 .7 169 9 2 .4 0 .0 6 0 7 .4 1 2 .1 1 9 7 .9 - 2 3 . 0 8 .1 1 0 .6 34998.4 142 Au t o m o b i l e Escorts 288
167 189 Ray m o n d , Mumbai 8870.0 3 4 .6 1 2 2 9 .9 7 3 .1 528.9 1 0 3 .2 211 2 8 1 4 .0 2 3 .3 264 5561.5 1 4 .1 228 2 0 .0 0 .0 1 0 2 4 .2 1 6 .4 2 0 0 .4 - 2 3 .2 2 1 .1 11621.4 307 Text ile & Gar m en t s Si n g h an i a Vijay 441
168 165 N BCC(In d ia), Delhi/ NCR 8856.8 1 2 .5 3 8 3 .0 1 6 .6 266.7 1 8 .9 352 1 7 6 4 .6 1 0 .5 377 2386.7 7 .9 414 9 7 .2 8 .0 3 3 3 .6 7 .7 9 3 .9 2 2 .2 2 1 .7 2 3 .8 12614.5 287 Realt y Govt o f Ind ia 195
169 227 Ad an i Green Energ y, Ahmedabad 8692.0 5 4 .1 5 6 3 7 .0 4 0 .3 974.0 9 9 .2 138 7 2 5 8 .0 1 7 7 .7 123 63237.0 1 1 .0 34 4 0 .0 1 7 .6 4 5 3 .0 6 0 7 .8 2 2 .1 7 .6 176654.7 26 Po w er Ad an i 806
170 163 Co nt ainer Co rp o rat io n, Delhi/ NCR 8644.9 7 .5 2 2 0 0 .9 9 .0 1173.9 1 1 .1 117 1 1 1 2 4 .2 4 .4 84 12128.5 4 .6 115 6 7 0 .2 2 2 .2 4 3 0 .8 3 .2 3 8 9 .7 1 3 .9 1 0 .7 1 3 .7 46412.5 116 Tr an sp o r t & Lo g i st i cs Govt o f Ind ia 194
171 174 Kan sai N ero lac Pain t s, Mumbai 8641.4 1 4 .7 8 4 4 .0 2 5 .1 473.6 3 2 .0 234 4 5 0 7 .0 9 .6 184 4816.4 8 .2 258 1 4 5 .5 2 0 .0 3 7 7 .1 6 .0 1 6 6 .4 2 4 .9 1 0 .8 1 4 .3 25894.3 179 Co nsum er St ap les Fo reig n - Kan sai 55
172 156 M an k i n d Ph ar m a, Delhi/ NCR 8599.7 1 .9 2 0 4 2 .9 - 7 .2 1281.9 - 1 0 .6 102 7 2 4 7 .2 2 0 .9 124 7729.0 8 .4 182 1 9 1 8 .5 1 8 .4 3 6 1 .6 - 3 0 .7 1 9 .3 2 3 .1 74353.5 68 Ph ar m aceu t i cal s In d i an Privat e 68
173 194 Su zl o n Energ y, Pune 8554.9 3 2 .7 3 5 7 2 .2 2 5 9 .1 2849.0 45 1 0 9 9 .1 515 3225.2 4 .3 336 6 0 9 .2 1 1 .7 4 .4 - 9 7 .3 2 .1 4 .7 47759.4 113 Capit al Go o d s Su zl o n 516

174 207 M azag o n D o ck Sh i p b u i l d er s, Mumbai 8514.0 3 8 .6 1 4 8 7 .4 7 7 .6 1119.0 8 3 .2 122 4 7 6 0 .2 2 3 .4 176 5329.1 1 6 .0 238 3 2 1 .9 8 2 .8 7 9 2 .7 - 0 .8 3 5 6 .6 9 1 .5 2 4 .3 2 8 .5 41550.9 129 Sh i p p i n g Govt o f Ind ia 26

175 152 A r vi n d , Ahmedabad 8506.7 - 0 .9 9 2 8 .7 1 0 .1 404.6 6 9 .9 266 3 2 8 7 .0 1 3 .5 235 4966.5 1 .1 251 1 5 0 .4 8 6 7 .6 1 1 .2 7 0 .6 - 5 3 .3 1 1 .6 1 2 .5 5533.3 481 Text ile & Gar m en t s Lalb h ai S N 385

176 217 Persist ent Syst em s, Pune 8421.2 4 3 .8 1 5 6 0 .1 4 1 .6 921.1 3 3 .4 148 3 9 6 5 .1 1 7 .7 206 4951.4 1 8 .5 252 3 8 2 .2 6 1 .3 4 9 6 9 .6 4 3 .7 3 1 9 .8 3 6 .7 2 5 .1 2 8 .2 48861.5 111 Tech n o l o g y- So f t w ar e In d i an Privat e 82

177 187 Cu m m i n s In d i a, Pune 8414.9 2 6 .0 1 7 4 9 .6 2 9 .1 1228.2 3 1 .5 111 5 7 5 8 .2 1 1 .9 151 6283.5 1 0 .8 209 6 9 3 .0 3 5 .1 6 4 8 .9 5 .6 3 6 3 .1 3 2 .9 2 2 .5 2 6 .9 50454.3 102 Capit al Go o d s Fo reig n - Cu m m i n s 74
*
178 238 One 9 7 Co m m u n i cat i o n s, Delhi/ NCR 8400.0 5 9 .6 - 1 2 3 4 .0 * - 1775.9 994 1 3 0 3 8 .3 - 8 .0 71 13537.3 - 8 .0 106 3 7 7 8 .3 5 5 .4 3 3 .6 1 9 7 .3 52924.9 94 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e 599

179 206 Bl u eSt ar , Mumbai 8364.7 3 6 .0 6 9 4 .9 8 1 .3 400.5 1 3 8 .8 269 1 3 2 7 .5 3 0 .8 462 2048.9 2 8 .0 466 1 1 5 .6 2 0 .0 5 9 1 .4 1 6 .3 1 5 4 .7 8 6 .6 2 3 .4 2 3 .9 19391.1 219 Co nsum er Durab les Bl u eSt ar 187

180 345 Go d rej Pro p ert ies, Mumbai 8250.9 1 3 7 .5 9 9 3 .6 4 0 .9 571.4 6 2 .2 205 9 2 4 1 .3 6 .5 99 15716.1 1 2 .5 91 2 1 8 .4 9 8 .1 1 7 4 .7 5 .4 5 .8 5 .6 50300.8 104 Realt y Go d rej 876

181 192 Ash o ka Bu i l d co n , Nashik 8236.8 2 7 .0 2 0 3 3 .1 - 1 0 .6 371.4 - 5 2 .3 283 1 5 3 4 .3 3 2 .1 416 13666.9 1 0 .1 105 3 8 7 .8 9 .5 2 1 5 .3 3 3 .9 2 6 .6 1 3 .5 3857.6 559 Co nst ruct io n & Inf rast ruct ure Ash o ka Gro up 905

182 186 L& T Tech n o lo g y Services, Vadodara 8221.6 2 2 .3 1 9 1 8 .7 2 2 .4 1169.8 2 2 .2 118 4 9 3 2 .9 1 8 .9 171 5426.8 1 6 .1 234 4 7 4 .8 2 8 .6 4 5 6 3 .9 2 5 .0 4 6 9 .6 3 4 .7 2 5 .8 3 3 .4 49042.5 110 Tech n o l o g y- So f t w ar e L& T 100

183 196 Th e r m ax, Pune 8220.7 2 8 .5 7 5 7 .5 3 8 .1 450.3 4 4 .2 247 3 8 6 5 .9 1 0 .7 213 4817.6 2 0 .5 257 1 1 9 .2 1 1 .1 9 5 8 .6 1 7 .9 1 5 2 .4 5 5 .8 1 2 .3 1 4 .5 34272.3 147 Capit al Go o d s Th e r m ax 125

184 182 Deep ak N it rit e, Vadodara 8210.8 1 8 .3 1 3 3 8 .9 - 1 8 .8 852.0 - 2 0 .1 156 4 0 9 0 .0 2 2 .5 202 4192.8 1 4 .1 283 1 0 2 .3 7 .1 3 1 8 .3 1 6 .1 2 9 3 .9 - 2 0 .1 2 2 .9 2 9 .8 29466.0 161 Chem icals D C M eht a 32

185 210 Th e Ram co Cem en t s, Chennai 8204.3 3 5 .9 1 2 1 9 .2 - 7 .5 314.5 - 6 4 .3 321 6 8 5 4 .1 3 .7 130 11437.7 7 .7 121 4 7 .3 - 3 3 .3 4 6 4 .4 5 .8 1 3 0 .0 5 .1 6 .5 23489.7 187 Cem ent & Bl d g M at erials Ram co 486

186 135 Divis Lab o rat o ries, Hyderabad 8089.1 - 1 5 .7 2 7 1 3 .8 - 3 2 .1 1823.4 - 3 8 .4 69 1 2 7 6 7 .1 8 .9 74 12801.0 8 .9 112 7 9 6 .4 0 .0 9 7 5 .0 3 .1 5 4 5 .3 - 2 4 .6 1 4 .9 1 9 .3 96629.7 49 Ph ar m aceu t i cal s Divi 83

187 193 Coforge, Delhi/ NCR 8076.5 2 4 .6 1 2 9 0 .3 1 1 .8 693.8 4 .9 180 2 9 9 5 .1 1 3 .7 253 3843.8 5 .0 302 3 9 1 .0 2 3 .5 4 8 2 8 .0 2 5 .9 2 0 6 .1 4 0 .4 2 5 .6 2 7 .5 33913.3 149 Tech n o l o g y- So f t w ar e In d i an Privat e 71

335.5 6 3 .7 303 1 8 6 3 .6 2 0 .4 363 2313.1 3 7 2 .5 9 .5 1 2 3 .7 2 2 .3 122

188 167 Surya Ro sh n i , Delhi/ NCR 8064.4 3 .7 6 1 9 .5 3 8 .1 4 .4 425 3 7 .7 7 6 .6 7 2 .5 1 9 .7 5806.1 474 M i n i n g & M e t al s A g ar w al B D
658.5 1 3 .5 183 4 2 8 5 .1 1 8 .1 194 11422.4 3 7 4 .7 - 1 .0 2 9 9 .0 1 3 .7 939
189 176 PNC In f rat ech , Agra 8036.7 1 0 .1 1 6 8 0 .7 3 .6 2 1 .8 122 1 2 .8 0 .0 3 2 .5 1 6 .6 8785.5 371 Co nst ruct io n & Inf rast ruct ure PN CGro up
8 1 .9 68 1 2 2 1 0 .1 1 7 .2 78 16401.1 1 9 9 .3 3 6 .8 3 1 9 .3 1 6 .0 683
190 350 Oberoi Realt y, Mumbai 8020.6 1 3 8 .3 2 4 3 2 .7 6 4 .4 1904.6 2 1 .4 88 1 4 5 .4 3 3 .3 4 .2 1 6 .8 46775.5 115 Realt y In d i an Privat e
1 8 9 .7 578 127
191 191 Team Lease Services, Bengaluru 7923.2 2 1 .8 1 6 3 .9 8 1 .4 111.3 7 9 4 .8 1 6 .8 630 1034.1 1 8 .7 706 7 5 6 9 .8 2 2 .5 3 .5 - 4 3 .0 1 4 .9 1 2 .7 4353.4 533 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e
- 6 6 .9 420 435
192 140 W el sp u n Livin g , Mumbai 7921.0 - 1 6 .6 8 7 3 .9 - 3 8 .7 198.8 3 9 7 9 .6 2 .9 205 6959.5 - 9 .1 197 9 .9 - 3 3 .3 7 9 4 .4 - 8 .3 9 9 .4 - 6 2 .7 5 .0 5 .9 14230.0 263 Text ile & Gar m en t s W el sp u n
193 269 GM R Po w er & Urb an In f ra, Delhi/ NCR 7865.7 7 3 .1 2 7 3 3 .6 1 9 1 .9 1182.8 116 - 2 5 0 1 .2 6107.0 - 2 8 .5 213 9 6 .4 3 4 .7 9 2 .7 - 1 2 .1 - 1 .6 1 0 .0 2441.1 675 Co nst ruct io n & Inf rast ruct ure GM R 863
194 251 Zo m at o , Delhi/ NCR 7804.2 5 4 .9 - 5 2 9 .0 * - 971.3 985 1 9 4 6 6 .4 1 7 .9 49 20064.8 2 0 .6 75 1 4 6 5 .0 - 1 0 .3 - 4 3 .6 102496.9 45 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e 770
195 178 Po l yp l exCo r p o r at i o n , Delhi/ NCR 7747.5 8 .9 1 0 4 2 .4 - 2 7 .4 348.4 - 3 8 .8 296 1 1 9 6 .6 - 8 .7 497 4306.8 0 .6 277 2 8 1 .3 - 1 5 .4 4 9 0 .5 1 .7 9 5 .3 - 4 7 .7 1 8 .1 1 7 .4 3337.2 598 Packag in g In d i an Privat e 433
196 157 Jain Irrig at io n Syst em s, Jalgaon 7725.2 - 7 .2 1 5 6 8 .5 1 9 .1 827.7 1 5 4 .8 157 5 0 8 5 .5 4 3 .7 164 9193.1 - 1 2 .9 154 5 3 0 .5 - 3 6 .5 3 1 .5 - 6 6 .1 1 9 .2 4 .0 4259.6 537 Capit al Go o d s In d i an Privat e 907
197 253 GM R Airp o rt s In f rast ru ct u re, Bengaluru 7676.8 5 2 .8 2 6 5 9 .7 5 0 .7 - 179.3 950 - 2 5 5 4 .4 36871.0 2 2 .7 50 9 6 9 .4 2 8 .4 1 1 4 .1 37478.5 133 Co nst ruct io n & Inf rast ruct ure GM R 917
198 218 Unit ed Br ew er i es, Bengaluru 7601.2 3 0 .0 6 3 2 .5 - 1 2 .9 304.0 - 1 6 .8 328 3 9 6 0 .3 0 .7 207 4003.2 0 .7 291 1 9 8 .3 - 2 8 .6 5 9 5 .5 1 3 .8 1 1 2 .6 - 1 2 .3 7 .7 1 0 .6 43088.5 125 Dist illers & W i n er i es Fo reig n - H e i n e k e n 151
199 226 So n at a So f t w ar e, Bengaluru 7545.8 3 3 .6 6 7 5 .0 1 9 .3 451.9 2 0 .0 245 1 3 0 0 .7 1 8 .3 469 2340.8 7 5 .6 420 2 1 8 .5 0 .1 9 3 3 .1 2 6 .6 1 4 5 .4 1 7 .3 3 7 .7 3 3 .5 18012.6 229 Tech n o l o g y- So f t w ar e In d i an Privat e 163
200 180 Delh iver y, Delhi/ NCR 7542.2 7 .1 - 1 3 3 .1 * - 1007.8 986 9 1 7 7 .1 5 4 .0 100 10151.7 4 3 .0 142 1 3 4 1 .5 5 .5 - 4 5 .3 29483.9 160 Tr an sp o r t & Lo g i st i cs In d i an Privat e 784
201 222 Elect ro st eel Cast ings, Kolkata 7520.5 3 1 .2 8 2 2 .5 9 .1 315.8 - 9 .1 319 4 3 8 1 .5 6 .8 190 7156.7 - 0 .7 192 5 3 .5 1 2 .5 4 3 0 .4 8 .2 9 9 .2 2 .5 7 .5 9 .8 5858.5 473 Capit al Go o d s Elect ro st eel 644

202 205 Jai p r ak ash Asso ciat es, Delhi/ NCR 7489.3 2 1 .5 1 2 5 .2 *** - 1341.8 990 - 1 1 9 9 .7 - 983 27306.1 1 .7 65 4 0 5 .6 0 .8 3 9 .2 2 6 0 .9 4166.0 543 Co nst ruct io n & Inf rast ruct ure Jay p eeGr o u p 966

203 190 Prism Jo h n so n , Mumbai 7405.4 1 3 .7 4 0 8 .8 - 3 0 .3 - 103.2 937 9 5 0 .6 - 9 .5 576 3499.5 - 5 .3 317 6 6 5 .8 8 .2 - 2 0 .1 - 1 2 .5 0 .5 7894.7 403 Cem ent & Bl d g M at erials Rah ej a Raj an 514

204 185 RPSG Ven t u r es, Kolkata 7331.9 8 .0 9 7 7 .3 - 3 .3 - 152.7 949 8 0 4 .5 1 7 .4 625 9390.4 0 .8 151 4 0 1 7 .0 - 1 .1 1 7 9 .3 5 .5 - 2 .4 7 .2 1891.4 734 Tech n o l o g y- So f t w ar e Go en ka San j i v 911

205 234 LT Fo o d s, Delhi/ NCR 7296.0 3 5 .1 7 7 1 .6 2 5 .5 402.7 3 7 .8 268 2 7 1 7 .1 4 7 .2 272 3992.2 1 9 .8 293 3 4 .7 8 .6 3 5 9 .6 2 4 .2 1 3 9 .8 2 2 .2 1 7 .8 1 7 .6 6742.3 440 Fo o d Pro cessing LT Gro up 426
**
206 184 Pi r am al Ph ar m a, Mumbai 7292.4 6 .6 9 0 0 .7 - 2 9 .0 - 186.5 951 6 7 7 3 .5 1 .1 132 12611.8 1 4 .7 113 1 8 9 6 .4 1 9 .4 6 6 .3 - 3 9 .2 - 2 .8 1 .9 15203.3 249 Ph ar m aceu t i cal s Pi r am al Aj ay G 864
207 204 CG Po w er & In d u st r ial So l u t i o n s, Mumbai 7261.0 1 7 .6 1 2 9 1 .5 6 .3 962.7 5 .5 140 1 7 8 9 .6 7 8 .6 375 1852.4 3 0 .9 500 2 2 9 .1 4 2 1 .7 1 5 .5 2 0 5 .8 6 8 .3 4 4 .3 4 2 .2 64173.9 76 Capit al Go o d s M u r u g ap p a Gro up 66
208 200 Hat su n Agro Pr o d u ct , Chennai 7217.3 1 4 .0 7 1 2 .0 1 .6 165.9 - 2 3 .9 470 1 4 4 0 .7 2 9 .9 437 3268.5 6 .3 332 1 3 3 .7 3 .3 2 2 3 .7 6 .5 5 8 .7 - 1 0 .3 1 3 .0 1 1 .1 24708.3 183 Fo o d Pro cessing In d i an Privat e 375
209 221 M o t h er so n Su m i W i r i n g In d i a, Delhi/ NCR 7148.6 2 4 .0 8 0 3 .7 1 5 .7 487.0 1 8 .6 227 1 3 3 0 .5 1 9 .4 461 1747.2 2 1 .4 525 2 8 7 .4 7 .1 1 1 8 3 .1 2 5 .0 1 6 5 .2 1 0 .0 3 9 .8 4 2 .7 26922.7 172 Au t o An ci l l ar i es M o t h erso n 147
210 286 Am b er Ent erp rises In d i a, Delhi/ NCR 7037.0 6 6 .2 4 7 0 .6 5 2 .5 157.2 4 4 .0 478 1 8 6 3 .5 9 .9 364 3439.4 2 0 .5 322 2 1 1 .6 4 1 .1 5 5 .9 3 0 .1 9 .0 1 0 .5 10376.1 329 Co nsum er Durab les In d i an Privat e 476
211 264 Triveni En g i n eer i n g an d In d s, Delhi/ NCR 7026.1 5 1 .0 2 1 1 3 .9 1 9 8 .1 1791.8 3 2 2 .5 72 2 6 6 5 .3 3 9 .3 279 3650.6 3 .5 312 7 1 .1 - 9 .5 3 4 8 .3 1 4 .7 1 7 1 .8 1 4 .8 2 3 .3 1 7 .3 7979.4 400 Sug ar Triveni 203
212 216 Sch aef f ler In d i a, Vadodara + 7016.0 1 9 .6 1 3 8 8 .5 3 2 .9 879.2 3 9 .8 151 4 2 8 5 .9 1 7 .3 193 4346.5 1 6 .9 275 3 7 5 .1 6 4 9 .9 4 3 0 .6 8 .9 2 9 7 .8 3 9 .2 2 2 .2 2 9 .3 46379.0 117 Au t o An ci l l ar i es Fo reig n - FAG 22
213 232 Crompt on Greaves Cons. Elect ricals, Mumbai 7002.3 2 9 .0 8 3 7 .3 1 .0 463.2 - 1 9 .9 238 2 2 1 2 .3 3 2 .4 327 3809.5 - 1 0 .5 304 1 9 0 .8 2 0 .5 5 4 0 .8 4 9 .2 1 3 5 .8 - 2 1 .6 1 8 .6 1 7 .9 18677.4 222 Co nsum er Durab les In d i an Privat e 277
214 302 So lar Ind ust ries In d i a, Nagpur 6991.4 7 4 .5 1 3 2 0 .2 7 2 .1 757.2 7 1 .6 171 2 4 7 0 .0 3 6 .2 291 3807.7 3 5 .8 306 7 2 .4 6 .7 3 3 0 .6 2 3 .6 2 9 0 .4 9 1 .1 3 5 .9 3 6 .1 54546.0 92 Chem icals In d i an Privat e 204
215 280 JK Pap er, Delhi/ NCR 6979.9 6 0 .0 2 1 5 0 .8 9 1 .8 1195.8 1 2 0 .4 115 3 9 0 3 .3 3 0 .5 209 7040.1 1 2 .2 195 1 3 5 .5 4 5 .5 4 8 3 .7 2 6 .8 4 3 8 .3 7 3 .3 3 4 .4 2 8 .1 6519.0 451 Pap er Si n g h an i a H ar i S 532
216 214 Varro c En g i n eer i n g , Aurangabad 6941.3 1 7 .0 - 2 4 6 .0 * - 819.8 * 982 9 4 8 .3 5 1 .7 578 2843.1 - 2 2 .9 367 7 1 7 .3 1 5 .8 4 4 .1 - 8 .6 7789.1 407 Au t o An ci l l ar i es In d i an Privat e 497
217 209 KEI In d u st r i es, Delhi/ NCR 6932.4 1 4 .3 7 3 3 .8 2 1 .6 477.4 2 6 .9 232 2 5 8 9 .2 2 1 .2 282 2765.9 1 0 .7 372 2 7 .1 2 0 .2 2 3 2 .0 1 5 .6 1 6 4 .7 2 5 .2 2 0 .2 2 5 .7 24996.7 182 Capit al Go o d s In d i an Privat e 53
218 195 W h i r l p o o l o f In d i a, Delhi/ NCR 6930.8 7 .6 4 9 7 .7 - 3 8 .8 219.0 - 6 1 .3 401 3 3 7 2 .8 4 .9 229 3881.6 3 .4 298 6 3 .4 0 .0 6 4 7 .7 4 .9 7 3 .2 - 1 1 .8 6 .5 8 .2 19397.9 218 Co nsum er Durab les Fo reig n - W h i r l p o o l 88
219 219 St er l i t eTech n o l o g i es, Pune 6836.0 1 7 .1 8 3 1 .0 2 9 .2 141.0 1 3 5 .0 499 2 0 8 7 .0 1 2 .0 336 5984.0 8 .9 216 4 0 .0 1 0 0 .0 9 1 2 .0 3 8 .0 8 4 .0 6 1 .5 6 .3 1 1 .0 5932.9 472 Capit al Go o d s Ved an t a 795
220 270 Fert ilizers & Chem icals Travan co re, Kochi 6782.7 4 9 .7 8 9 0 .4 4 4 .1 613.0 7 7 .0 197 1 2 7 3 .9 9 2 .4 480 3317.2 2 2 .1 327 6 4 .7 2 8 8 .2 2 4 .3 6 0 .8 2 8 .1 45929.8 118 Fert ilizers Govt o f Ind ia 456

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fi g u r es i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss t o p r o f i t ; * * Pr o f i t t o l o ss; * Loss i n b o t h y ear s

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RANK COMPANY, CITY yutsrponmlkjihgedcbaYVTSRPNMLKIHDCB
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
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2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 %CHG % ~ CR RANK RANK
221 171 Alo k In d u st r i es, Mumbai 6778.6 - 1 1 .2 - 1 3 .8 ** - 880.5 * 983 - 1 8 9 0 0 .4 997 5373.3 - 1 7 . 6 236 4 9 1 .7 9 .4 0 .5 - 9860.8 338 Te x t i l e s Gar m en t s In d i an Privat e 821
222 228 PI In d u st r i es, Delhi/ NCR 6727.5 2 0 .0 1 7 1 0 .1 3 6 .7 1229.5 4 5 .7 110 7 1 9 8 .5 1 7 .6 125 7290.7 1 2 .6 189 1 5 2 .0 6 6 .7 5 3 7 .4 9 .6 2 1 4 .8 1 3 .7 1 8 .5 2 1 .6 53868.4 93 Agro Chem icals In d i an Privat e 181
223 198 IRB Inf rast ruct ure Develo p ers, Mumbai 6703.3 5 .5 3 4 3 0 .3 9 .7 720.0 9 9 .2 175 1 3 3 7 8 .9 6 .5 68 40830.3 0 .0 47 1 2 0 .8 - 3 4 6 .2 2 0 .5 3 5 6 .9 8 9 .6 5 .6 6 .4 21929.0 202 Co nst ruct io n S Inf rast ruct ure IRB 895
224 199 Fort is H eal t h car e, Delhi/ NCR 6694.2 5 .5 1 2 5 8 .5 - 1 2 .3 588.7 6 .1 202 6 3 8 4 .1 1 9 .4 138 9909.7 2 .9 144 7 5 .5 - 1 0 4 6 .9 7 .6 1 8 0 .7 - 8 .7 6 .8 7 .5 27173.5 170 Healt h care In d i an Privat e 642
225 239 K PR M ill, Tirupur 6634.7 2 7 .2 1 3 3 6 .7 2 .4 814.1 - 3 .3 161 3 7 0 6 .7 1 6 .3 217 5075.2 1 5 .2 243 7 3 .5 1 3 2 4 .2 5 4 8 .6 2 3 .2 2 7 0 .1 - 9 .9 2 3 .6 2 4 .5 27661.6 169 Te x t i l e s Gar m en t s K PR Gro up 315
226 201 Aart i In d u st ries, Mumbai 6553.7 4 .1 1 0 8 9 .8 - 3 6 .7 545.2 - 5 4 .0 208 4 9 1 9 .4 8 .9 172 8044.2 9 .8 175 9 0 .6 - 2 8 .6 3 8 5 .3 7 .9 6 5 .9 - 6 4 .6 1 1 .6 1 0 .1 19077.1 220 Chem icals Al ch em i e Gro up 519
227 229 JKLak sh m i Cem en t , Delhi/ NCR 6549.9 1 8 .4 8 9 6 .2 - 9 .7 358.6 - 2 2 .6 290 2 7 6 6 .8 1 1 .6 271 5057.5 6 .8 247 4 4 .1 - 2 5 .0 3 8 7 .7 6 .9 1 6 5 .4 1 1 .2 1 3 .9 1 3 .6 9118.9 362 Ce m e n t s Bl d g M at erials Si n g h an i aH ar i S 443
228 318 Kirlo skar Ferro us In d u st ries, Pune 6486.7 7 1 .2 8 8 5 .0 3 5 .2 395.1 1 3 .8 272 1 1 7 9 .6 3 1 .8 503 3076.4 3 .1 350 7 6 .4 0 .2 3 1 9 .7 1 2 9 .2 1 7 9 .7 - 2 3 .0 2 2 .7 2 3 .5 7029.6 428 M i n i n g S M et als Kirlo skars 358
229 231 Black Bo x, Mumbai 6461.6 1 8 .2 2 4 8 .2 - 3 .9 23.7 - 6 7 .4 826 2 9 6 .0 1 3 .7 865 1060.3 2 1 .5 696 2 6 8 1 .4 2 5 .0 5 .8 - 5 6 .6 1 1 .2 1 5 .4 4047.2 552 Capit al Goods Essar 614
230 179 Tr i d en t , Luudhiana 6415.2 - 9 .7 9 7 1 .5 - 3 6 .7 440.7 - 4 7 .1 253 4 1 9 1 .1 9 .0 197 5638.1 3 .5 224 1 8 3 .5 0 .0 6 5 0 .4 - 2 .9 1 3 7 .5 - 5 1 .4 1 1 .0 1 1 .9 18525.2 223 Diversified Tr i d en t Gr o u p 267
231 329 M ah an ag ar Gas, Mumbai 6412.0 7 5 .8 1 2 9 6 .1 2 8 .3 790.1 3 2 .3 165 4 1 3 4 .2 1 4 .9 200 4283.3 1 4 .9 278 1 5 8 .1 - 3 6 .0 1 3 7 .1 2 6 .5 2 6 5 .5 2 6 .8 2 0 .4 2 6 .6 10803.2 320 O i l S Gas Jo i n t Sect o r 42
**
232 213 N et w o rk 18 M ed ia S In vest m en t s, Delhi/ NCR 6406.3 7 .6 3 2 0 .6 - 7 2 .2 - 84.3 934 - 3 2 4 5 .0 - 992 6883.3 1 1 8 .4 199 1 2 0 6 .9 1 6 .1 - 0 .2 8344.4 386 M ed ia S En t er t ai n m en t M u k e sh A m b an i 963
233 168 Jayasw al Neco In d u st ries, Nagpur 6391.9 - 1 7 .7 7 5 3 .1 - 7 5 .2 226.9 - 8 9 .9 394 2 0 5 7 .6 1 2 .2 340 5472.1 - 3 .6 232 2 7 6 .7 - 1 9 2 .8 9 .5 8 .2 4089.3 548 M i n i n g S M et als In d i an Privat e 796
**
234 203 Ju b i l an t Ph ar m o v a, Delhi/ NCR 6373.0 2 .7 7 7 0 .0 - 3 3 .5 - 61.0 927 5 4 0 6 .8 1 .6 157 9438.7 9 .6 150 7 9 .7 0 .0 2 1 6 6 .0 6 .0 9 2 .7 - 5 7 .4 - 7 .3 3 .1 6939.8 431 Ph ar m aceu t i cal s Ju b i l an t Bh art ia 631
235 211 Ipca Lab o rat o ries, Mumbai 6269.3 4 .0 1 0 5 5 .0 - 2 3 .5 471.3 - 4 6 .7 235 5 7 6 8 .7 7 .1 150 7370.6 1 6 .7 187 1 0 1 .5 0 .0 1 2 8 7 .6 9 .4 2 5 3 .4 1 2 .7 8 .7 1 1 .6 26338.3 175 Ph ar m aceu t i cal s IPCA 293
*
236 220 Baj aj H i n d u st h an Sug ar, Delhi/ NCR 6255.8 7 .5 2 8 5 .2 4 4 .7 - 134.7 945 4 4 1 4 .0 9 5 .4 187 8847.7 2 3 .1 161 3 7 9 .5 1 0 .7 - 3 .4 3697.8 571 Sug ar Baj aj S 857
237 260 Jai Balaji In d u st r i es, Kolkata 6211.0 3 1 .1 2 9 1 .7 2 2 .5 57.8 2 0 .3 717 5 5 6 .1 - 738 1445.7 - 4 .0 590 1 2 8 .8 1 8 .3 4 7 .1 6 .7 6 .7 9662.1 346 M i n i n g S M et als In d i an Privat e 429
238 256 M u k an d , Mumbai 6186.0 2 4 .5 4 0 1 .6 1 2 .3 171.8 - 2 .6 461 8 5 3 .8 2 8 .1 603 2421.9 - 1 1 .7 408 2 8 .9 3 3 .3 2 0 4 .8 1 .1 0 .5 - 5 0 .9 - 8 .1 2476.6 672 M i n i n g S M et als Baj aj 671
239 325 Great East ern Sh i p p i n g Co, Mumbai 6171.1 6 8 .2 3 6 0 8 .3 1 1 3 .8 2575.0 3 0 8 .9 49 1 0 2 7 5 .4 2 7 .6 93 14229.9 9 .3 102 4 1 1 .2 1 9 0 .9 7 6 5 .1 8 .0 - 2 1 .5 2 8 .1 2 1 .3 12171.1 294 Sh i p p i n g Great East ern 431
240 294 Gu j ar at Fl u o r o ch em i cal s, Delhi/ NCR 6163.9 4 9 .5 2 1 3 7 .6 6 0 .8 1328.8 6 8 .8 99 5 5 2 0 .7 2 9 .0 154 7089.4 2 1 .1 194 4 4 .0 0 .0 3 2 2 .1 2 1 .3 4 6 1 .7 7 1 .4 2 7 .1 2 9 .4 32218.8 154 Chem icals INOX 337
241 215 First so urce So l u t i o n s, Mumbai 6153.2 3 .9 9 8 8 .6 0 .6 513.7 - 4 .4 218 3 3 6 6 .5 1 1 .0 230 4791.8 - 3 .4 259 2 4 4 .0 0 .0 3 8 6 7 .5 - 2 .0 1 0 1 .5 - 8 .2 1 6 .1 1 4 .9 11893.9 300 Tech n o l o g y- So f t w ar e Go e n k aSan j i v 362
242 223 ISGECHeavy En g i n eer i n g , Delhi/ NCR 6127.8 7 .3 4 8 5 .1 3 9 .7 196.5 8 0 .6 423 2 2 1 6 .5 8 .7 326 3833.3 4 .7 303 2 2 .1 5 0 .0 4 6 2 .6 6 .8 8 4 .5 9 6 .0 9 .3 1 0 .2 6022.6 467 Capit al Goods ISGEC Gro up 467
243 224 TV18 Bro ad cast , Delhi/ NCR 6085.0 7 .6 3 6 5 .5 - 6 8 .7 116.2 - 8 0 .1 565 3 1 6 1 .9 - 3 .4 243 9192.4 6 2 .1 155 1 0 1 1 .0 1 2 .7 - 1 .0 2 .7 3 .3 7899.5 402 M ed ia S En t er t ai n m en t M u k e sh A m b an i 969
244 263 Cyient , Hyderabad 6084.8 3 0 .5 1 0 3 7 .8 1 1 .6 514.4 - 1 .5 216 3 4 6 9 .9 1 1 .2 226 4973.1 2 7 .8 250 2 8 7 .6 8 .5 3 0 3 2 .0 3 3 .5 1 6 6 .8 - 5 .3 1 5 .6 1 7 .6 20603.2 212 Tech n o l o g y- So f t w ar e In d i an Privat e 338
245 292 KRBL, Delhi/ NCR 6069.7 4 6 .1 1 0 3 1 .6 4 6 .4 701.0 5 2 .6 178 4 6 9 1 .7 1 5 .3 179 4951.3 1 7 .2 253 2 3 .5 - 7 1 .4 1 2 0 .6 1 5 .6 2 4 0 .2 5 2 .3 1 6 .0 2 0 .8 8343.7 387 Food Pro cessing In d i an Privat e 434
246 240 Laurus Lab s, Hyderabad 6024.5 1 6 .5 1 5 9 8 .2 1 1 .2 790.1 - 4 .5 164 4 0 2 6 .4 2 0 .4 203 6350.8 1 8 .7 207 1 0 7 .7 0 .2 5 5 7 .4 1 8 .7 3 1 2 .3 2 4 .2 2 1 .6 2 1 .8 20722.3 210 Ph ar m aceu t i cal s In d i an Privat e 454
247 208 DLF, Delhi/ NCR 6012.1 - 2 .0 2 0 4 3 .2 5 .4 2035.8 3 5 .6 64 3 7 6 8 3 .2 3 .7 28 42227.6 1 .2 44 9 9 0 .1 3 3 .3 5 4 7 .9 5 4 .8 4 0 1 .5 2 5 .1 3 .0 4 .5 152356.1 31 Realt y DLF 611
248 241 Sh i p p i n g Co rp o rat io n o f In d i a, Mumbai 5977.9 1 5 .9 1 7 4 1 .1 2 .4 870.2 1 .1 152 6 9 0 2 .3 1 5 .5 129 9575.6 3 .6 147 2 0 .5 3 3 .4 4 7 4 .2 - 1 .5 - 6 7 .1 1 3 .3 1 0 .4 6845.2 435 Sh i p p i n g Go vt o f Ind ia 513
249 360 In d i an Hot els Co, Mumbai 5960.8 8 4 .7 1 9 4 6 .8 2 3 8 .3 1002.6 135 7 3 2 1 .9 1 3 .2 122 11264.8 1 .6 126 1 4 2 .0 1 5 0 .0 1 5 8 2 .3 3 7 .6 3 2 3 .2 1 2 .8 1 3 .6 59388.3 84 H o t e l sS Rest au r an t s Tat a 636
250 236 Oracle Fi n an ci al Services, Mumbai 5890.2 1 0 .0 2 6 6 3 .2 1 .1 1806.1 - 4 .4 70 7 4 5 8 .9 5 .1 118 7995.8 5 .3 177 1 9 4 4 .0 1 8 .6 2 7 7 4 .2 1 5 .3 7 6 3 .8 1 9 .4 2 4 .8 3 3 .1 35381.7 140 Tech n o l o g y- So f t w ar e Fo reig n - Oracle 177
251 243 Jai p r ak ash Po w er Ven t u res, Delhi/ NCR 5887.0 1 4 .6 1 2 4 9 .4 - 7 .3 55.4 - 4 8 .4 722 1 0 4 4 5 .5 0 .5 90 15488.4 - 2 .0 92 1 2 4 .8 1 1 .8 1 7 0 .0 - 1 6 .2 0 .4 4 .1 8384.3 385 Po w er Jayp ee Gro up 842
252 257 Ind ia Cem ent s, Chennai 5884.3 1 9 .8 8 3 .2 - 8 3 .6 - 126.9 ** 943 5 2 8 7 .0 - 2 .6 159 9445.4 - 4 .1 149 3 6 1 .8 8 .3 - 2 0 8 .0 - 6 .7 - 3 .6 7216.6 423 Ce m e n t S Bl d g M at erials In d i a Cem ent 893
253 225 Go d aw ar i Po w er S Isp at , Raipur 5863.9 3 .7 1 2 2 6 .5 - 4 0 .0 793.4 - 4 5 .9 163 3 8 6 4 .4 2 1 .4 214 4256.7 1 3 .0 279 5 4 .6 - 7 0 .4 1 9 1 .4 2 7 .1 2 8 9 .2 - 3 5 .9 2 2 .0 2 7 .5 8878.3 366 M i n i n g S M et als In d i an Privat e 112
254 304 Zuari Agro Ch em icals, Panjim 5829.2 4 7 .0 9 5 2 .1 1 0 7 .8 476.6 2 6 5 .4 233 1 0 4 8 .0 - 531 3707.4 2 2 .4 309 1 1 9 .7 1 4 .1 1 2 9 .1 1 7 3 .2 8 .2 9 .6 687.1 884 Fert ilizers Ad ven t z 836
255 271 PCBL, Kolkata 5818.6 2 9 .0 7 7 1 .8 1 3 .2 441.8 3 .7 251 2 8 2 1 .0 8 .3 263 3871.2 1 3 .6 299 2 0 7 .6 1 0 .0 1 9 0 .5 1 9 .9 1 3 9 .5 3 2 .6 1 6 .2 1 7 .5 8570.9 377 Chem icals Go e n k aSan j i v 323
256 273 M ah ar ash t r a Seam l ess, Delhi/ NCR 5807.9 2 9 .8 1 0 9 9 .7 5 8 .5 764.8 1 0 .6 169 4 7 6 9 .9 1 9 .8 175 5090.9 7 .6 241 6 7 .0 1 0 0 .0 9 6 .4 1 7 .8 1 5 6 .0 1 7 .6 1 9 .6 11012.7 317 M i n i n g S M et als D .PJi n d al 172
257 268 RRKa b e l , Vadodara 5797.5 2 7 .1 3 5 8 .4 1 .1 189.9 - 1 1 .3 437 1 4 1 9 .7 1 3 .5 442 2016.4 1 2 .6 472 4 3 .1 - 2 5 4 .6 4 2 .6 6 6 .1 - 6 .1 1 4 .2 1 5 .7 17533.6 233 Co nsum er Durab les In d i an Privat e 107
258 250 Su n d r am Fast eners, Chennai 5772.9 1 4 .3 8 9 8 .3 6 .8 494.7 8 .3 224 2 9 9 7 .4 1 5 .0 252 3767.1 1 0 .3 308 1 8 1 .3 3 2 .0 5 1 8 .9 6 .7 1 6 0 .3 0 .6 1 7 .8 1 9 .5 26403.2 174 Aut o An ci l l ar i es TVS Suresh Krish 168
259 411 N ag arjuna Fertilizers S Chem icals, Hyderabad 5730.3 1 1 0 .5 - 5 3 2 .0 * - 900.1 984 - 2 0 6 9 .8 - 987 847.8 - 4 2 .2 775 9 8 .9 4 .5 - 2 3 7 .1 549.4 905 Fert ilizers N a g a r j u n a - KSR 739
260 272 Elect ro nics M art In d i a, Hyderabad 5616.5 2 5 .2 3 4 7 .1 1 7 .4 122. 8 1 8 .2 547 1 1 8 4 .3 9 8 .5 501 2617.8 4 9 .9 389 9 5 .2 2 0 .8 4 0 .4 1 2 .6 1 3 .8 1 2 .0 7214.2 424 Ret ail In d i an Privat e 655
261 287 Tam il N ad u N e w sp r i n t SPa p e r s, Chennai 5582.2 3 2 .8 1 0 4 8 .0 1 5 7 .4 387.9 2 6 0 6 .7 274 1 9 4 4 .1 2 2 .3 351 3991.5 0 .0 294 3 4 .7 2 5 .0 3 4 9 .1 1 0 .7 2 1 4 .9 2 6 9 0 .8 2 2 .0 1 9 .7 1925.9 731 Pap er Go v t o f Tam i l N ad u 589
262 233 A l em b i c Ph ar m aceu t i cal s, Vadodara 5576.7 3 .2 6 8 0 .2 - 2 6 .9 342.0 - 3 4 .4 300 4 3 7 0 .5 1 6 .6 191 5198.7 - 1 4 .1 239 1 5 7 .2 - 2 0 .0 1 1 6 9 .1 3 .2 1 2 .6 - 8 7 .9 7 .1 7 .2 14886.5 255 Ph ar m aceu t i cal s In d i an Privat e 268
263 258 Baj aj Elect ricals, Mumbai 5551.0 1 4 .1 4 3 3 .5 4 2 .0 216.2 6 8 .2 402 1 9 0 7 .2 8 .5 358 2084.7 9 .2 460 4 6 .0 3 3 .6 4 2 6 .3 6 .2 8 7 .2 1 0 8 .3 1 1 .9 1 7 .6 11817.2 302 Co nsum er Durab les Baj aj 98
264 297 Page In d u st ries, Bengaluru 5549.1 3 5 .7 8 7 8 .8 8 .8 571.3 6 .5 206 1 3 7 1 .0 2 5 .9 455 1783.8 4 7 .9 520 2 7 8 .8 - 3 2 .4 8 8 1 .2 2 2 .4 1 8 6 .9 8 .5 4 6 .5 5 3 .6 42253.8 126 Text ile S Gar m en t s In d i an Privat e 170
265 235 At u l , Valsad 5510.9 2 .6 8 9 3 .6 - 1 0 .3 514.1 - 1 4 .9 217 4 6 2 3 .3 5 .1 181 4764.2 3 .3 261 9 6 .0 2 9 .6 3 7 0 .2 8 .1 1 8 1 .2 - 1 1 .6 1 1 .1 1 4 .8 19795.2 216 Chem icals In d i an Privat e 79
266 252 A b b o t t I n d i a, Mumbai 5467.1 8 .5 1 3 5 9 .8 1 6 .7 949.4 1 8 .9 143 3 1 8 8 .5 1 3 .1 240 3395.2 1 0 .8 323 6 9 0 .6 1 8 .2 5 6 3 .6 - 2 .7 3 2 4 .4 1 5 .4 3 1 .6 3 9 .9 48851.5 112 Ph ar m aceu t i cal s Fo r ei g n - Ab b o t t 35
267 249 Su p r em e Pet r o ch em , Mumbai 5452.8 7 .9 7 1 9 .7 - 2 3 .2 498.1 - 2 4 .9 223 1 8 4 3 .9 2 1 .7 367 1867.7 1 9 .8 499 2 0 6 .9 2 2 .2 5 4 .7 1 3 .3 1 6 8 .8 - 2 4 .9 2 9 .7 3 9 .3 10478.9 327 Pet ro ch em icals S Plast ics Tap aria 6
268 314 GVK Po w er S In f ra, Secunderabad 5421.1 4 1 .5 4 6 1 6 .4 4 1 .4 2438.9 - 7 .8 51 - 2 7 5 5 .7 - 990 4835.7 - 2 8 .0 256 2 5 .1 7 7 .3 7 1 .8 - 1 .3 - 0 .8 7 .9 1555.6 768 Co nst ruct io n S Inf rast ruct ure GVK Gro up 900
269 358 Force M o t o rs, Pune 5407.2 6 6 .1 5 8 1 .6 4 6 8 .3 133.6 517 1 8 7 2 .9 7 .3 362 2861.7 0 .6 366 1 3 .2 0 .0 4 2 2 .4 1 4 .8 1 3 8 .7 1 .8 4 .7 5045.0 505 Au t o m o b i l e A b h ay Fi r o d i a 258
270 197 Ji n d al Po ly Fi l m s, Delhi/ NCR 5323.2 - 1 6 .3 7 8 2 .2 - 5 7 .0 319.0 - 7 3 .3 316 4 2 0 7 .5 9 .8 196 9041.5 6 0 .5 158 1 8 .8 - 1 4 .0 1 5 7 .3 2 3 .5 1 3 6 .5 - 6 9 .0 8 .1 1 1 .3 2823.1 635 Packag in g Ji n d al BC 962
271 290 FSN E- Co m m er ce Ven t u res, Mumbai 5315.8 2 7 .7 2 8 7 .3 5 0 .4 19.3 - 5 3 .1 839 1 3 6 3 .9 2 .2 458 2323.1 1 2 .6 421 4 9 1 .7 5 0 .6 1 3 .6 1 2 5 .4 1 .8 5 .1 45182.2 120 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e 506
272 278 IFB In d u st ries, Kolkata 5311.4 2 0 .4 1 8 6 .9 1 4 4 .2 14.9 851 6 6 7 .5 3 .0 694 1121.3 2 .3 679 4 0 5 .1 8 .8 1 7 .2 2 .3 5 .9 3787.1 566 Co nsum er Durab les IFB 355
273 255 Bayer Cro p Science, Mumbai 5310.5 6 .4 1 0 9 1 .9 1 8 .1 758.2 1 7 .5 170 2 7 1 2 .1 7 .4 273 2937.9 7 .7 360 5 8 3 .7 - 1 3 .3 5 3 4 .3 1 5 .4 2 3 1 .9 1 5 .1 2 5 .9 3 2 .1 23882.6 184 Agro Chem icals Fo r ei g n - Bayer 41
274 246 Co l g at e- Pal m o l i ve (In d i a), Mumbai 5275.9 3 .0 1 5 8 9 .4 - 0 .2 1047.2 - 2 .9 130 1 7 1 6 .4 - 1 .1 382 1810.6 - 1 .2 512 1 0 6 0 .8 - 2 .5 3 7 7 .0 - 2 .1 3 6 2 .5 9 .6 6 0 .7 7 7 .6 59555.8 83 Co n su m er St ap l es Fo r ei g n - Co l g at e Pal m o l i ve 3
275 230 Zee En t er t ai n m en t En t erp rises, Mumbai 5223.1 - 4 .7 6 4 7 .4 - 6 1 .1 47.8 - 9 5 .0 747 1 0 7 2 1 .9 - 1 .3 87 11161.4 1 .1 131 3 8 4 .4 3 3 .3 8 8 2 .9 2 .2 2 1 6 .7 - 5 1 .3 0 .4 7 .8 25016.4 181 M ed ia S En t er t ai n m en t Essel 415

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

31 M arch 202 4 23
RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY yutrponmlkihgedbaYVTRPNMKJIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 %CHG % ~ CR RANK RANK
276 276 Ju b i l an t Fo o d w o r k s, Delhi/ NCR 5214.3 1 7 .4 1 1 7 5 .9 3 .8 353.2 - 1 6 .0 293 2 0 3 7 .8 5 .3 3 4 2 4592.5 1 3 .4 266 7 9 .2 0 .0 9 0 6 .4 1 8 .0 1 3 5 .7 - 6 .5 1 7 .7 1 6 .0 35422.9 139 H o t e l sS Rest au ran t s Ju b i l an t Bh art ia 501
277 275 Bl u e Dart Exp ress, Mumbai 5204.3 1 7 .2 9 6 9 .5 - 2 .5 370.5 - 3 .1 285 1 1 7 9 .6 3 5 .3 504 2317.7 1 8 .4 422 7 1 .3 - 5 0 .0 8 3 7 .8 9 .5 1 3 7 .7 5 .8 3 6 .1 2 6 .9 16379.6 240 Tr a n sp o r t s Logistics Fo r ei g n - DHL 226
278 267 Ast ral, Ahmedabad 5186.1 1 3 .7 8 4 6 .3 7 .4 456.6 - 5 .6 244 2 4 6 2 .3 6 .7 292 2801.4 1 5 .0 369 9 4 .2 5 6 .1 3 1 9 .3 3 0 .2 1 5 5 .7 - 1 .5 1 8 .7 2 5 .5 51131.2 98 Pet ro ch em icals & Plast ics In d i an Privat e 86
279 244 Avan t i Feed s, Hyderabad 5178.6 1 .0 4 7 3 .3 2 8 .5 278.7 2 5 .8 343 1 8 1 4 .1 1 0 .4 369 2113.4 1 0 .4 454 8 5 .1 0 .0 1 6 6 .8 3 2 .1 1 1 4 .5 4 5 .6 1 5 .7 2 1 .4 5543.6 480 Food Pro cessing In d i an Privat e 20
**
280 969 Rat t an In d i a En t erp rises, Delhi/ NCR 5160.1 7 1 7 .3 - 2 1 4 .2 ** - 284.6 962 4 0 2 .2 - 4 2 .5 803 1393.8 6 2 .5 609 7 3 .9 1 0 4 6 .9 1 2 .8 6 2 7 5 . 0 9203.1 359 Po w er Rat t an Ind ia 615
281 311 ITD Cem en t at io n In d i a, Mumbai 5153.8 3 3 .7 4 6 2 .8 3 7 .0 124.2 8 0 .6 538 1 2 3 3 .5 9 .4 489 2046.6 1 8 .4 467 1 2 .9 6 6 .8 4 8 2 .4 2 9 .4 5 9 .1 1 4 2 .2 1 0 .5 1 8 .5 4251.1 538 Co nst ruct io n S Inf rast ruct ure Fo reig n - ITD 427
282 291 M ah i n d r a Logist ics, Mumbai 5143.7 2 3 .8 2 7 5 .6 3 9 .3 26.3 4 9 .7 816 5 6 3 .0 3 .1 735 1428.4 4 5 .8 599 1 8 .0 2 5 .3 3 5 4 .6 1 2 .7 7 .1 - 3 6 .7 5 .0 7 .2 2671.4 652 Tr a n sp o r t s Logistics M ah i n d r a 548
283 295 AIA En g i n eer i n g , Ahmedabad 5118.3 2 5 .0 1 4 7 9 .9 6 7 .8 1055.9 7 0 .4 129 5 6 8 2 .4 1 9 .7 153 6207.0 2 9 .9 211 1 5 0 .9 7 7 .8 1 5 1 .9 9 .0 3 0 5 .5 8 9 .0 2 0 .2 2 5 .3 33549.4 151 Capit al Goods In d i an Privat e 198

284 525 Th o m as Co o k (In d i a), Mumbai 5111.8 1 6 2 .6 2 4 0 .0 *** 6.5 877 1 2 1 4 .6 1 .3 493 3002.0 - 1 .4 354 1 8 .8 - 7 6 9 .8 3 2 .2 1 6 .5 0 .6 3 .7 6620.1 445 M iscellan eo u s Fo reig n - Fai r f ax Fi n an ci al 500

285 300 Kirlo skar Oil En g i n es, Pune 5108.1 2 6 .4 7 6 3 .5 7 3 .8 332.4 9 0 .5 305 2 3 0 3 .6 1 0 .7 311 5628.5 3 6 .4 226 7 2 .4 2 5 .1 3 3 9 .7 1 9 .0 1 1 7 .3 9 2 .2 1 5 .1 1 3 .5 8282.7 390 Capit al Goods Kirlo skars 886

286 125 H i n d u j a Glo b al So l u t i o n s, Bengaluru 5090.1 - 5 1 .9 8 2 8 .5 - 8 7 .2 332.1 - 9 4 .5 306 8 3 9 0 .7 5 .9 108 9699.1 1 .6 146 7 8 .8 - 9 1 .4 2 7 5 7 .2 6 .1 - 1 0 2 .3 3 .0 2 .3 4538.0 523 Tech n o l o g y- So f t w ar e Hinduja 600

287 265 Gu jarat A m b u j a Exp o r t s, Ahmedabad 5067.5 9 .3 5 4 9 .1 - 2 5 .9 330.1 - 3 0 .6 308 2 4 3 4 .0 1 4 .9 296 2678.1 1 0 .8 379 1 6 .1 7 .7 7 8 .4 - 2 .6 1 1 1 .0 - 3 1 .8 1 4 .5 1 7 .8 8202.1 392 Food Pro cessing A m b u j a Gup t a 94

288 349 West Coast Pap er M ills, Kolkata 5026.8 4 8 .3 1 7 0 4 .4 1 4 6 .4 942.0 2 0 6 .8 145 2 0 9 6 .9 5 6 .8 334 2954.7 2 7 .8 358 6 6 .1 6 6 .7 3 6 6 .7 2 .3 3 9 0 .8 4 2 4 .4 5 1 .0 5 7 .5 4686.3 518 Pap er Ba n g u r SK 173

289 285 Cent ury Text iles S In d u st r i es, Mumbai 5020.1 1 8 .4 6 8 7 .2 3 8 .8 271.9 6 3 .3 346 3 7 3 4 .7 4 .9 216 5520.9 - 2 .7 230 5 5 .9 2 5 .0 3 4 4 .8 6 .5 1 4 1 .7 1 8 0 .9 4 .7 5 .8 13288.4 272 Diversified Bi r l aBK 534

290 212 Ch em p l ast San m ar , Chennai 5014.9 - 1 5 .9 4 6 7 .5 - 6 2 .7 152.4 - 7 6 .5 483 3 0 2 .6 1 8 6 . 1 861 2967.6 1 0 .9 356 1 4 7 .2 2 2 .6 1 9 .2 - 8 7 .0 1 0 4 .1 3 2 .6 7373.7 418 Chem icals San m ar 674

291 282 M ax Healt h care In st it u t e, Hyderabad 4970.6 1 5 .8 1 3 7 9 .8 3 0 .1 1103.5 8 2 .4 126 7 4 0 9 .6 1 7 .9 119 8703.7 1 0 .7 162 9 7 .1 - 8 0 9 .4 5 .3 - 3 9 .8 1 6 .1 1 3 .9 59978.7 82 Healt h care An al j i t Sing h 550

292 279 Zen sar Tech n o l o g i es, Mumbai 4951.0 1 3 .0 6 5 5 .0 - 1 7 .5 327.6 - 2 1 .3 309 2 9 7 6 .2 1 0 .8 255 3345.4 7 .4 326 1 1 3 .3 0 .2 3 1 2 3 .0 2 1 .3 1 1 6 .5 - 2 3 .6 1 1 .6 1 4 .6 12079.3 297 Tech n o l o g y- So f t w ar e Go e n k a RP 93

293 353 Lak sh m i M ach i n eW o r k s, Coimbatore 4943.9 5 0 .3 5 9 7 .0 1 0 0 .2 384.0 1 1 2 .1 275 2 3 3 8 .6 1 7 .5 308 2672.8 1 0 .6 381 1 0 5 .2 1 4 6 .3 3 7 9 .9 1 4 .6 1 3 5 .2 1 3 6 .1 1 7 .7 2 0 .4 14384.9 261 Capit al Goods LM W - D JV 30

294 245 Ju b i l an t In g r evi a, Delhi/ NCR 4933.8 - 3 .7 5 8 0 .5 - 3 2 .8 307.5 - 3 5 .5 324 2 6 6 6 .2 9 .6 278 3139.1 1 4 .6 347 7 9 .7 0 .0 3 4 3 .5 4 .9 1 2 9 .2 - 4 4 .4 1 2 .1 1 5 .6 7183.5 425 Chem icals In d i an Privat e 208

295 343 Prim e Fo cus, Mumbai 4923.8 4 1 .6 1 1 9 3 .5 6 8 .6 147.3 490 - 1 0 6 .7 - 963 5562.9 2 5 .2 227 2 8 9 7 .8 4 1 .5 1 1 1 .7 2 1 .9 4 4 .7 1 4 .4 3066.7 622 M ed ia S En t er t ai n m en t In d i an Privat e 953

296 259 HFCL, Delhi/ NCR 4892.9 0 .9 6 6 5 .8 - 3 .1 301.0 - 3 .9 330 3 0 7 0 .9 1 0 .5 247 4084.7 1 3 .0 288 2 7 .5 1 1 .2 3 4 8 .2 1 2 .1 1 1 2 .9 - 2 .9 1 0 .8 1 5 .1 10075.4 335 Tel eco m m u n i cat i o n s HFCL 556

297 309 Red i n g t o n , Chennai 4885.9 2 6 .0 2 3 4 4 .3 2 1 .7 1392.6 8 .8 95 6 5 6 1 .5 2 0 .1 136 10427.6 5 3 .7 139 5 6 2 .7 9 .1 1 1 6 8 .4 3 1 .9 3 9 4 .1 2 8 .2 2 2 .7 2 5 .4 12414.3 289 Trad in g In d i an Privat e 807

7 .5 160 1 8 8 6 .0 483 1 7 .5 2 7 7 .6 2 .4 4 6 .2 6 0 .4 265 Fo reig n - B P 18

298 284 Castrol I n d i a , M u m b a i + 4869.9 1 4 .5 1 1 7 8 .2 5 .7 815.2 1 4 .6 360 1958.5 1 6 .8 6 4 2 .9 1 8 .2 2 7 2 .6 14078.1 O i l S Lu b rican t s
2 4 .2 262 2 6 9 2 .7 339 6 5 .4 9 .2 1 7 .0 2 0 .7 205 M u r u g ap p a Gro up 129
299 342 Car b o r u n d u m Un i ver sal , Chennai 4855.6 3 9 .6 7 9 0 .8 3 2 .5 414.0 1 8 .2 276 3201.7 2 1 .6 6 6 .5 0 .0 6 8 7 .7 1 3 8 .2 21543.7 Capit al Goods
- 4 8 .1 739 1 4 9 1 .9 409 3 8 .4 3 .5 5 .6 356 In d i an Privat e 588
300 303 M ed p l u s Healt h Services, Hyderabad 4824.8 2 1 .5 3 1 1 .8 2 .6 49.8 5 .2 425 2419.6 7 .3 5 4 5 .1 - 3 .0 9312.8 Ret ail
- 2 8 .5 234 BirlaCK 37
301 288 Birlaso f t , Pune 4817.6 1 4 .8 5 4 3 .3 - 2 3 .1 331.6 307 2 4 4 8 .3 - 5 .2 294 2598.9 - 5 .7 392 6 .2 - 2 3 .5 2 8 1 3 .1 1 8 .8 1 1 0 .8 - 2 7 .6 1 3 .2 1 7 .2 16790.4 Tech n o l o g y- So f t w ar e
587 In d i an Privat e 450
302 383 Su n f l ag Iron SSt e e l Co, Nagpur 4790.2 5 9 .9 1 6 4 6 .7 3 0 8 .1 1115.3 4 1 4 .0 124 2 9 6 7 .0 1 1 0 .4 257 3990.0 6 7 .7 295 1 0 7 .8 1 0 .2 3 6 9 .6 4 4 4 .4 1 0 .2 1 3 .2 3497.5 M i n i n g S M et als
378 In d i an Privat e 493
303 261 Bal r am p u r Chini M ills, Kolkata 4750.4 1 .1 5 8 6 .5 - 2 1 .1 284.2 - 3 8 .8 341 2 8 9 5 .6 4 .5 261 4786.0 1 9 .9 260 5 0 .4 - 1 .1 3 6 3 .8 1 8 .2 1 2 4 .2 - 7 .4 1 0 .0 1 0 .4 8531.8 Sug ar
758 TVS S Ram 449
304 293 W h eel s In d i a, Chennai 4730.5 1 4 .7 2 4 4 .3 - 9 .6 58.1 - 2 4 .1 715 7 5 1 .2 4 .8 658 1557.9 - 3 .7 568 1 6 .8 - 1 6 .0 4 4 5 .9 1 7 .6 1 5 .1 - 3 6 .1 7 .2 1 0 .8 1690.9 Aut o An ci l l ar i es
795 In d i an Privat e 368
305 274 Asian St ar Co, Mumbai 4723.6 5 .8 1 4 0 .1 2 .7 82.6 - 1 1 .9 646 1 4 3 3 .6 9 .1 439 2084.1 2 .9 461 2 .4 0 .0 5 8 .8 - 3 .0 2 1 .8 1 4 .2 6 .0 6 .2 1350.0 Jew el l er y
236 In d i an Privat e 789
306 341 Brig ad e En t erp rises, Bengaluru 4715.0 3 4 .9 1 0 2 6 .7 3 1 .8 291.4 2 5 2 .1 338 3 3 3 8 .0 1 3 .8 232 8075.0 1 .0 174 4 6 .2 3 3 .6 2 6 8 .3 2 9 .7 5 5 .8 1 2 .3 6 .4 8 .2 16751.7 Realt y
486 Dalm ia San j ay 216
307 355 GHCL, Delhi/ NCR 4698.2 4 3 .3 1 6 2 1 .7 7 2 .5 1141.6 7 5 .6 119 3 9 5 5 .8 3 4 .2 208 4322.9 1 5 .5 276 1 6 7 .3 1 7 .0 1 3 4 .1 2 3 .7 3 4 7 .2 1 2 8 .3 3 3 .1 3 7 .9 5469.0 Chem icals
251 Fi n o l ex 121
308 298 Fi n o l ex Cab les, Pune 4662.3 1 4 .1 6 9 7 .1 - 1 5 .7 504.3 - 1 5 .8 220 4 3 7 0 .4 1 1 .4 192 4394.4 1 1 .5 272 1 0 7 .1 1 6 .7 1 6 2 .7 1 1 .4 1 4 5 .2 - 2 2 .6 1 2 .2 1 5 .6 15121.4 Capit al Goods
201 In d i an Privat e 138
309 347 Rat n am an i M e t a l sSTu b e s, Ahmedabad 4647.5 3 6 .8 8 0 8 .1 5 1 .7 510.5 5 8 .2 219 2 5 3 1 .8 1 2 .6 284 2945.5 2 2 .3 359 8 4 .1 2 8 .5 2 0 9 .2 3 1 .5 1 8 1 .3 6 7 .4 2 1 .1 2 7 .1 22240.4 M i n i n g S M et als
477 In d i an Privat e 798
310 320 H .G. Infra En g i n eer i n g , Jaipur 4641.4 2 3 .5 9 1 4 .7 2 7 .5 493.2 2 9 .8 225 1 9 2 1 .9 3 3 .8 356 3866.0 4 7 .0 300 8 .2 2 5 .0 1 9 8 .2 5 2 .6 1 7 1 .4 2 7 .3 2 9 .4 2 5 .2 5750.4 Co nst ruct io n S Inf rast ruct ure
192 In d i an Privat e 292
311 321 N ar ayan a H r u d ayal aya, Bengaluru 4601.3 2 2 .8 1 0 4 5 .7 5 1 .7 606.3 7 7 .3 200 2 1 3 0 .3 4 3 .2 333 3256.0 3 2 .6 333 5 1 .1 1 5 0 .0 8 7 9 .2 1 4 .4 1 4 5 .0 6 5 .4 3 3 .5 2 9 .3 23046.0 Healt h care
217 Fo reig n - Hit achi 184
312 296 Hit achi Energ y In d i a, Bengaluru 4579.5 1 1 .9 2 6 5 .1 - 2 2 .0 93.9 - 4 2 .3 621 1 2 1 5 .3 7 .3 492 1551.8 1 7 .1 571 1 4 .4 4 1 .7 4 1 7 .3 7 .2 3 6 .9 - 3 6 .9 8 .0 1 2 .9 19503.2 Capit al Goods
489 Go vt o f Gu jarat 312
313 316 Gu jarat Alkalies S Ch em icals, Vadodara 4575.6 2 0 .2 9 9 0 .7 - 3 .9 409.6 - 2 6 .8 265 6 1 3 9 .2 4 .1 144 6868.2 3 .4 200 1 7 3 .0 1 3 5 .5 2 5 2 .4 - 7 .2 2 8 5 .5 7 .1 6 .8 1 0 .6 5415.1 Chem icals
416 Rah ej a Ravi 629
314 392 Sh o p p er s St o p , Mumbai 4574.9 5 9 .3 7 5 0 .0 6 1 .7 116.0 566 2 0 6 .1 1 7 1 .4 904 2580.8 1 7 .8 394 3 5 2 .3 2 9 .3 4 3 .2 2 0 .9 1 3 .2 7383.7 Ret ail
365 In d i an Privat e 329
315 305 Gr an u l es In d i a, Hyderabad 4571.1 1 6 .2 9 2 7 .6 2 5 .4 516.6 2 5 .2 215 2 8 3 4 .9 9 .6 262 4000.4 7 .5 292 3 6 .3 - 2 .4 4 2 0 .4 1 4 .7 1 7 0 .6 1 7 .4 1 9 .1 1 9 .3 8920.0 Ph ar m aceu t i cal s
208 Kajar ia 124
316 317 Kajar ia Ceram ics, Delhi/ NCR 4507.2 1 8 .4 6 1 7 .6 - 3 .2 344.5 - 8 .6 299 2 2 4 9 .1 9 .3 317 2598.2 1 2 .7 393 1 4 3 .3 - 1 8 .2 4 6 1 .2 1 3 .1 1 1 6 .3 1 5 .6 1 9 .8 20863.8 Cer am icPr o d u ct s
396 609
317 402 So b h a, Bengaluru 4503.8 6 0 .9 4 6 1 .8 - 2 5 .1 104.2 - 3 9 .8 591 2 4 9 4 .7 3 .0 287 4544.4 - 8 .6 267 2 8 .5 0 .0 2 9 4 .5 1 7 .2 4 0 .8 - 3 5 .7 4 .2 8 .3 8107.3 Realt y In d i an Privat e
108 113
318 334 Tata Tech n o lo g ies, Pune 4501.9 2 5 .8 9 0 8 .7 3 0 .8 624.0 4 2 .8 193 2 9 8 9 .5 3 1 .1 254 3268.7 2 7 .7 331 4 9 9 .0 1 9 2 9 .5 2 7 .6 1 7 2 .1 1 4 .9 2 3 .7 2 7 .9 49338.2 Tech n o l o g y- So f t w ar e Tat a
792 846
319 283 In d o Ram a Syn t h et ics, Delhi/ NCR 4439.5 4 .3 6 6 .2 - 7 8 .8 - 24.6 ** 913 5 7 2 .7 - 4 .6 731 1504.8 5 1 .9 577 1 1 4 .4 6 .2 - 0 .2 1363.5 Text ile S Gar m en t s Un i w o r t h
65 343
320 372 Ad an i Tot al Gas, Ahmedabad 4429.3 4 3 .2 9 2 4 .1 1 2 .8 546.5 7 .3 207 2 9 4 1 .0 2 1 .7 260 4385.6 2 6 .7 273 2 7 .5 0 .0 5 5 .7 1 .7 1 8 6 .1 6 .7 2 0 .4 2 0 .7 78651.4 O i l S Gas Ad an i
551 822
321 340 Pat el En g i n eer i n g , Mumbai 4413.4 2 6 .2 7 4 4 .4 2 1 .3 183.5 1 5 4 .5 449 2 8 0 0 .1 2 1 .1 268 6096.3 - 0 .8 214 3 4 0 .8 2 7 .9 5 3 .9 2 4 .9 6 .8 1 0 .6 4076.3 Co nst ruct io n S Inf rast ruct ure In d i an Privat e
344 69
322 312 Gal axy Su r f act an t s, Mumbai 4400.2 1 4 .5 5 7 8 .1 3 9 .9 381.0 4 5 .0 280 1 8 8 2 .6 1 9 .6 361 2217.3 1 0 .7 441 7 8 .0 2 2 .2 2 4 8 .1 1 7 .1 9 2 .0 3 8 .2 2 2 .0 2 3 .4 9726.1 Co n su m er St ap l es In d i an Privat e
279 352
323 248 Fi n o l ex In d u st ries, Pune 4392.7 - 1 3 .4 4 3 7 .7 - 7 0 .4 250.7 - 7 6 .2 366 4 9 0 3 .1 2 4 .8 173 5528.3 2 8 .9 229 9 2 .8 - 6 2 .6 1 8 9 .7 - 0 .6 7 0 .6 - 7 8 .7 5 .1 6 .4 12893.3 Pet ro ch em icals S Plast ics Fi n o l ex
562 61
342.0 - 2 .1 301 2 2 3 1 .7 1 3 .9 437 0 .0 1 .4 8 8 .8 - 2 2 .8 3818.3 Agro Chem icals In d i an Privat e
324 319 Sh ar d a Cro p ch em , Mumbai 4392.4 1 6 .0 6 9 9 .0 - 3 .5 1 6 .7 322 2239.4 5 4 .1 4 4 .8 1 6 .5 2 1 .5
185 13
524.9 213 2 3 4 1 .4 2 3 .1 413 1 7 5 .9 4 .9 5 3 .2 Aut o An ci l l ar i es Fo reig n - SKF
325 310 SKF In d i a, Mumbai 4386.4 1 3 .2 8 0 1 .4 3 5 .8 3 2 .9 2 4 .2 306 2388.1 1 9 7 .8 2 9 9 .6 2 0 8 .1 2 4 .8 3 4 .0 23828.5
381 320
284.5 340 Aut o An ci l l ar i es In d i an Privat e
326 380 M i n d a Co rp o rat io n, Delhi/ NCR 4341.3 4 3 .8 4 7 8 .9 3 5 .9 4 8 .3 1 5 8 6 .1 1 9 .7 400 2346.8 2 5 .4 419 2 8 .7 2 0 .0 6 2 5 .5 3 1 .9 4 .1 - 8 2 .9 2 0 .2 1 6 .2 8461.7
565 455
400 Pet ro ch em icals S Plast ics In d i an Privat e
327 323 Ti m eTech n o p l ast , Mumbai 4326.7 1 7 .9 5 8 0 .9 1 4 .2 219.0 1 6 .5 2 2 0 8 .8 9 .6 328 3160.7 6 .1 346 2 8 .3 2 5 .0 2 0 6 .4 1 3 .0 8 1 .0 2 0 .6 1 0 .3 1 3 .4 3798.5
704 209
632 Text ile S Gar m en t s In d i an Privat e
328 308 Filat ex In d i a, Delhi/ NCR 4303.8 1 0 .6 2 5 0 .1 - 5 5 .2 89.9 - 7 0 .3 1 0 9 9 .0 1 .2 516 1442.3 - 2 .5 591 6 .6 4 7 .2 9 2 .1 7 .3 3 2 .2 - 7 9 .4 8 .2 1 2 .4 2185.0
636 188
680 Food Pro cessing Ven ky' s
329 277 Ven kys (In d i a), Pune 4267.9 - 3 .4 1 4 9 .2 - 4 6 .8 70.5 - 5 7 .2 1 2 9 8 .6 4 .0 470 1507.7 3 .0 575 8 .5 - 5 3 .9 2 5 4 .9 1 0 .5 2 4 .8 - 5 9 .8 5 .5 7 .7 2815.6
395 477
201 M i n i n g S M et als In d i an Privat e
330 301 Sard a En e r g y S M i n er al s, Raipur 4267.3 5 .9 1 1 0 9 .6 - 2 0 .6 602.1 - 2 5 .1 3 3 0 9 .8 1 4 .1 233 4872.5 5 .3 255 5 2 .9 9 5 .5 1 2 7 .1 1 2 .6 2 0 1 .8 - 3 2 .7 1 8 .9 1 9 .6 8112.2

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

32 M arch 202 4 23
RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY ywutrponmlkjihgedcbaYVTRPNMKIHGDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
331 336 J Ku m ar In f rap ro ject s, Mumbai 4233.6 1 9 .2 6 2 7 .5 1 8 .5 274.4 3 3 .3 345 2 3 3 9 .7 1 2 .1 307 2966.1 1 2 .9 357 2 6 .5 1 6 .7 3 0 9 .3 1 0 .9 9 9 .2 2 9 .1 1 2 .4 1 6 .9 3373.8 594 Realt y In d i an Privat e 509
332 387 Hi m ad r i Sp ecialit y Ch em ical, Kolkata 4230.0 4 4 .0 3 9 7 .2 1 8 6 .5 216.0 4 2 7 .4 403 2 2 8 3 .3 2 2 .1 314 3128.8 2 7 .2 349 1 0 .8 2 9 .1 9 1 .5 1 3 .3 6 4 .4 3 4 6 .8 1 1 .5 1 3 .4 11701.8 303 M i n i n g & M et als In d i an Privat e 525
333 322 KNR Co nst ruct io ns, Hyderabad 4160.9 1 3 .0 1 0 1 5 .4 1 5 .5 458.0 1 9 .9 242 2 8 1 0 .6 3 4 .1 265 3 4 6 0 .5 - 1 0 . 5 320 7 .0 0 .0 1 7 4 .2 1 9 .3 2 4 1 .8 2 2 .8 1 7 .2 2 2 .8 7669.6 409 Co nst ruct io n & Inf rast ruct ure In d i an Privat e 247
334 313 Su n TV N et w o r k , Chennai 4152.6 8 .1 2 7 7 3 .6 9 .4 1706.4 3 .9 74 9 2 6 6 .0 1 3 .7 98 9 3 4 8 .6 1 3 .2 152 5 9 1 .1 9 .1 1 2 5 .9 9 .4 5 7 1 .3 3 .2 1 9 .6 2 6 .0 26052.1 178 M ed ia & En t er t ai n m en t Su n TVGr o u p 161
335 359 Asah i Ind ia Glass, Delhi/ NCR 4126.7 2 7 .5 8 2 7 .6 4 .6 364.9 5 .8 286 2 0 9 5 .9 1 7 .7 335 3 5 0 5 .7 1 5 .7 316 4 8 .6 0 .0 3 2 2 .2 1 1 .3 2 0 1 .7 2 0 .1 1 8 .9 2 0 .4 13875.0 267 Au t o An ci l l ar i es Fo reig n - A sa h i 485
336 335 Gan d h ar Oil Ref in ery, Mumbai 4086.2 1 4 .4 3 3 9 .8 2 4 .5 190.1 2 9 .0 436 6 9 0 .4 3 2 .4 680 948.8 2 9 .2 734 4 .0 - 5 2 .4 4 3 .1 5 7 .8 - 6 .3 3 3 .7 3 8 .4 2793.9 639 Oil & Gas In d i an Privat e 248
337 348 3M In d i a, Bengaluru 4080.5 2 0 .4 6 7 2 .4 5 7 .7 451.0 6 5 .8 246 1 6 7 7 .5 2 3 .2 384 1747.3 - 2 2 .8 524 9 5 8 .0 - 4 0 0 .3 3 .1 1 5 6 .4 6 3 .7 2 3 .4 3 0 .7 35078.4 141 Co n su m er St ap l es Fo reig n - 3 M 12
338 332 St eel St rips W h eel s, Chandigarh 4077.6 1 3 .0 4 5 5 .2 - 2 .3 193.8 - 5 .7 427 1 0 8 1 .9 2 0 .3 517 1871.8 2 .4 497 1 5 .7 3 3 .6 2 8 3 .7 2 0 .3 9 7 .4 - 0 .7 1 9 .6 2 0 .9 4352.4 534 Au t o An ci l l ar i es Ga r g RK 341
339 330 N ava, Chennai 4071.2 1 1 .9 1 9 6 9 .1 2 8 .7 927.7 7 9 .2 147 4 9 4 3 .2 1 6 .9 168 9276.4 2 .4 153 8 7 .1 0 .0 2 1 5 .1 8 .2 4 4 .0 - 8 6 .4 2 2 .3 1 8 .1 6077.1 465 Diversified N ava Bh ar at 684
340 328 V- Gu ar d In d u st ries, Kochi 4063.4 1 1 .3 3 3 6 .4 - 4 .2 189.1 - 1 6 .9 439 1 6 0 7 .6 1 4 .7 395 2150.2 4 3 .9 450 5 6 .2 0 .2 3 0 2 .9 1 2 .2 6 6 .7 1 .8 1 2 .5 1 4 .9 12799.6 281 Co nsum er Durab les In d i an Privat e 152
341 370 Gal l an t t I sp at ., Gorakhpur 4020.2 2 8 .8 3 6 7 .4 5 .0 140.9 - 1 9 .9 500 2 2 2 5 .0 6 .8 323 2776.7 1 1 .7 371 8 8 .2 2 2 .4 9 9 .0 6 1 .0 6 .5 1 0 .2 2456.0 673 M i n i n g & M et als In d i an Privat e 464
342 281 Ti n p l at e Co m p an y o f In d i a, Kolkata 4006.0 - 8 .0 2 6 9 .6 - 5 0 .1 142.8 - 5 9 .5 495 1 2 6 3 .1 7 .9 481 1373.6 8 .0 616 3 1 .4 - 2 5 .0 1 5 5 .3 6 .7 5 0 .1 - 5 7 .6 1 1 .7 1 5 .5 4226.5 541 M i n i n g & M et als Tat a 106
343 306 P& G H y g i e n e an d H eal t h , Mumbai R R 3967.0 0 .9 9 0 9 .2 6 .4 678.1 1 7 .8
*
182 9 4 6 .0 2 8 .3 579 1055.5 2 7 .8 699 6 0 0 .5 1 5 .6 2 0 5 .8 - 4 .0 1 6 1 .3 - 2 4 .7 8 0 .6 9 0 .4 56759.9 87 Co n su m er St ap l es Fo reig n - P& G 9
344 366 St rid es Ph ar m a Scien ce, Bengaluru 3938.1 2 4 .5 2 3 6 .8 *** - 202.6 955 2 2 5 1 .6 - 3 .6 316 5329.1 - 3 .2 237 1 3 .6 7 3 2 .0 1 3 .2 - 5 5 .3 4768.2 513 Ph ar m aceu t i cal s In d i an Privat e 958
345 307 RSWM , Delhi/ NCR 3936.7 0 .5 3 5 2 .8 - 2 5 .0 122.9 - 5 0 .1 545 1 3 1 7 .0 2 7 .2 465 2484.8 1 5 .9 403 2 3 .6 - 6 0 .0 4 1 8 .5 4 .3 2 8 .7 - 3 4 .1 8 .1 901.2 859 Text ile & Gar m en t s Bh i l w ar a - JLN 750
346 388 G M DC, Ahmedabad 3913.6 3 5 .5 1 7 4 3 .9 9 8 .4 1215.7 1 7 2 .6 112 5 7 9 8 .3 2 0 .3 149 6376.4 1 7 .8 205 3 6 4 .1 1 6 6 .3 1 5 8 .4 1 9 .2 4 4 4 .7 3 4 .1 2 2 .9 2 8 .2 12279.3 293 M i n i n g & M et als Go vt o f Gu jar at 189
347 266 Gl an d Ph ar m a, Hyderabad 3912.0 - 1 4 .7 1 2 0 8 .8 - 3 0 .3 781.0 - 3 5 .5 166 7 9 5 8 .7 1 1 .2 112 7964.9 1 1 .2 179 4 0 3 .3 1 9 .1 2 7 3 .5 - 3 2 .8 1 0 .3 1 4 .0 27862.6 168 Ph ar m aceu t i cal s In d i an Privat e 306
*
348 327 Keso ram In d u st r i es, Kolkata 3904.0 6 .8 1 6 7 .8 - 6 8 .1 - 194.3 952 4 7 3 .2 - 7 .3 774 2524.7 - 0 .1 399 2 1 9 .4 1 9 .7 - 1 9 0 .5 3700.0 570 Diversified Bi r l aBK 861
349 363 JBM Au t o , Delhi/ NCR 3896.8 2 1 .5 4 2 5 .6 2 0 .2 124.4 - 2 0 .4 537 1 0 2 8 .7 1 4 .8 540 2757.0 1 9 .6 373 1 5 .4 3 0 .0 4 1 2 .1 3 6 .4 4 4 .4 4 4 .8 1 3 .0 1 1 .7 15109.0 252 Au t o An ci l l ar i es JBM 530
350 401 Go d f rey Ph illip s In d i a, Delhi/ NCR 3891.5 3 8 .4 1 0 5 5 .2 4 1 .2 690.5 5 7 .6 181 3 5 4 2 .6 2 1 .2 223 3928.5 1 9 .3 297 2 2 8 .8 5 7 .1 3 0 8 .4 1 0 .8 1 8 2 .2 3 9 .9 1 8 .2 2 1 .4 11056.0 315 Co n su m er St ap l es In d i an Privat e 193
351 289 BEM L, Bengaluru 3884.9 - 7 .3 3 9 1 .0 1 8 .2 157.9 2 2 .6 476 2 4 2 1 .9 2 .8 298 3595.6 - 2 0 .2 314 4 1 .8 0 .0 8 3 9 .8 - 2 .5 1 1 9 .8 6 8 .4 6 .6 8 .1 9825.4 341 Capit al Goods Go vt o f Ind ia 394
352 352 Tr an sp o r t Co r p o r at i o n , Delhi/ NCR 3857.2 1 6 .7 4 9 5 .3 8 .5 317.3 9 .6 318 1 6 7 1 .7 1 9 .2 385 1801.1 1 7 .5 514 5 4 .3 7 5 .4 1 9 6 .5 1 5 .6 4 3 .4 1 5 .4 2 0 .5 2 2 .4 6434.6 453 Transp o rt & Logistics A g ar w al - D P 45
*
- 335.1 966 7 3 3 0 .5 4 3 4 .8 15418.2 6 5 .6 1 2 7 .4 16605.6 237 PVR 919
353 580 PVR In o x, Delhi/ NCR 3829.7 1 3 1 .3 1 1 1 6 .0 1 5 8 .6 120 1 3 2 .3 94 4 3 8 .9 M ed ia & En t er t ai n m en t
304 1 3 1 5 .1 1493.3 1 4 .1 1 2 0 .8 310 24
354 356 Akzo N o b el In d i a, Delhi/ NCR 3822.2 1 7 .1 5 5 2 .5 2 0 .8 335.1 1 5 .5 4 .5 467 4 .9 579 2 9 5 .8 - 1 3 .3 3 0 1 .1 5 7 .5 2 6 .0 3 2 .3 11324.4 Co n su m er St ap l es Fo r ei g n - Akzo Nobel
203 3 3 8 8 .0 3451.5 2 1 .6 1 5 7 .3 188 77
355 337 A j an t a Ph ar m a, Mumbai 3815.5 7 .8 8 8 1 .9 - 1 5 .6 588.0 - 1 7 .5 3 .8 228 4 .2 321 8 8 .4 8 .4 7 8 5 .1 - 2 0 .1 1 7 .7 2 2 .2 23488.8 Ph ar m aceu t i cal s In d i an Privat e
419 347 576
356 333 Grap h it e In d i a, Kolkata 3809.6 6 .2 3 9 2 .1 - 4 7 .9 199.4 - 6 0 .5 4 9 6 2 .8 0 .3 167 5398.1 0 .2 235 1 6 6 .1 - 1 5 .0 3 1 5 .2 1 .5 1 2 2 .8 - 3 4 .7 4 .7 7 .2 9646.4 Capit al Goods Ba n g u r KK
98 134 741
357 612 Ph o en i x M ills, Mumbai 3803.1 1 4 6 .3 2 2 4 1 .0 1 7 7 .1 1335.0 4 6 2 .4 5 6 8 3 .4 3 6 .8 152 12976.1 2 1 .3 111 8 9 .3 1 0 8 .5 2 3 2 .5 4 8 .1 1 9 8 .9 1 4 8 .5 1 2 .6 1 1 .9 37444.3 Realt y In d i an Privat e
385 421 145
358 373 Kirlo skar Bro t h ers, Pune 3775.4 2 2 .1 4 2 2 .0 7 7 .0 234.9 1 4 9 .0 1 4 0 0 .5 1 9 .2 449 1796.9 6 .5 515 3 5 .7 5 0 .0 5 6 5 .2 1 2 .7 9 3 .0 7 2 .4 1 7 .4 2 0 .3 7266.5 Capit al Goods Kirlo skars
461 359
359 339 EPL, Mumbai 3767.2 7 .6 6 1 5 .9 6 .1 226.7 5 .7 395 1 9 8 5 .6 1 0 .9 346 2911.7 1 0 .8 362 1 3 6 .7 0 .6 6 8 9 .5 6 .1 3 7 .3 - 4 4 .7 1 2 .1 1 2 .1 6209.1 Packag in g In d i an Privat e
693 261
360 385 Savit a Oil Tech n o lo g ies, Mumbai 3696.1 2 4 .2 3 5 8 .8 - 7 .8 225.7 - 1 3 .4 396 1 4 4 9 .1 1 5 .2 433 1456.6 1 5 .1 587 2 7 .6 - 2 0 .0 7 8 .4 - 0 .3 7 7 .1 - 1 2 .4 1 6 .7 2 4 .9 2323.7 Oil & Lu b rican t s In d i an Privat e
86 89
361 520 I R CT C, Delhi/ NCR 3690.4 8 6 .6 1 4 2 3 .9 5 0 .6 1005.9 5 2 .5 134 2 4 7 8 .4 3 2 .5 290 2722.1 2 9 .2 375 4 4 0 .0 5 7 .1 2 4 5 .5 2 .1 3 4 8 .1 5 4 .2 4 6 .3 5 6 .7 58037.0 M iscellan eo u s Go vt o f Ind ia
254 114
362 368 Cen t u r yPl yb o ar d s, Kolkata 3646.3 1 5 .6 6 0 6 .4 9 .5 383.3 2 2 .4 276 1 9 1 8 .0 2 3 .0 357 2248.9 2 4 .5 435 2 2 .3 - 3 3 .3 4 7 4 .9 1 3 .7 1 2 7 .8 - 1 7 .6 2 2 .1 2 6 .1 14947.2 Pl yw o o d Bo ar d s/ Lam i n at es In d i an Privat e
456 376
363 409 Po w er M ech Pro ject s, Vijayawada 3634.9 3 3 .2 4 1 2 .4 3 7 .0 209.1 5 0 .4 407 1 2 7 4 .0 2 2 .5 479 1932.9 1 1 .2 488 3 .0 3 4 .8 5 4 2 .8 2 8 .3 7 2 .7 5 7 .3 1 7 .9 2 0 .1 6336.9 Capit al Goods In d i an Privat e
340 423
364 512 Ro ut e M o b i l e, Mumbai 3608.6 7 8 .5 4 8 4 .6 1 0 1 .8 327.1 9 6 .8 310 1 8 1 2 .5 8 .5 370 2107.2 8 .9 455 6 8 .7 1 1 8 .5 1 9 6 .9 5 6 .1 4 8 .4 9 2 .5 1 9 .1 2 0 .0 9826.2 Tech n o l o g y- So f t w ar e In d i an Privat e
326 39
365 443 Praj In d u st r i es, Pune 3601.6 4 9 .6 3 5 3 .6 5 3 .8 239.8 5 9 .6 379 1 0 7 7 .9 1 7 .7 519 1133.9 1 8 .8 673 8 2 .7 7 .2 2 5 7 .6 1 8 .4 7 8 .9 4 4 .4 2 4 .1 3 1 .0 10518.2 Capit al Goods In d i an Privat e
153 97
366 379 H o n ey w el l A u t o m at i o n , Pune 3592.8 1 8 .6 6 4 9 .7 2 5 .2 438.0 2 9 .2 254 3 1 8 8 .5 1 2 .4 241 3242.2 1 1 .0 334 8 4 .0 5 .6 6 2 5 .9 1 2 .3 1 5 3 .3 2 9 .3 1 4 .5 1 9 .4 32623.6 Capit al Goods Fo r ei g n - H o n ey w el l
* 526 960
367 324 Rat t an i n d i a Po w er , Delhi/ NCR 3559.4 - 3 .0 1 0 6 6 .5 3 7 .6 - 1869.9 996 - 4 5 3 2 .9 993 7371.6 - 2 5 .4 186 5 5 .9 1 1 .7 2 0 .4 4485.8 Po w er Rat t an Ind ia
797 732
368 376 M angalore Chemicals & Fertilizers, Bengaluru 3553.8 1 6 .5 3 4 0 .1 4 4 .9 134.7 5 3 .3 514 8 0 3 .2 1 7 .6 627 2191.9 6 .5 445 1 7 .8 2 4 .9 6 9 .2 - 0 .7 4 1 .4 - 1 1 .6 1 8 .1 1 3 .2 1341.3 Fert ilizers Ad ven t z
540 652
369 648 W el sp u n En t erp rises, Mumbai 3526.8 1 4 4 .0 9 1 4 .9 2 6 5 .2 722.8 4 7 9 .6 174 2 3 5 0 .0 3 1 .4 304 3482.4 - 2 3 .2 319 1 2 7 .5 4 6 7 .3 1 4 9 .5 3 6 .3 5 7 .0 1 2 2 .6 1 3 .2 9 .3 4228.5 Co nst ruct io n & Inf rast ruct ure W el sp u n
211 414
370 413 Bat a In d i a, Delhi/ NCR 3526.3 3 0 .6 8 4 2 .9 7 5 .2 323.0 2 1 3 .6 315 1 4 3 8 .2 2 0 .7 438 2685.1 - 7 .8 378 1 7 3 .5 - 7 5 .2 4 1 8 .7 1 0 .6 1 0 6 .8 1 9 1 .0 1 9 .9 1 9 .6 20713.1 Fo o t w ear & Accesso ries Fo r ei g n - Bat a
159 51
371 428 ZF Co m m ercial Vehicle CS, Chennai 3511.2 3 5 .7 5 3 7 .3 8 5 .2 317.7 1 2 3 .6 317 2 4 0 9 .1 1 4 .0 300 2486.6 1 6 .3 402 2 4 .7 8 .4 3 7 6 .7 1 4 .6 1 0 9 .2 1 0 3 .5 1 4 .1 1 8 .7 29952.0 Au t o An ci l l ar i es Fo r e i g n - ZF Gro up
393 297
372 378 En g in eers In d i a, Delhi/ NCR 3494.5 1 4 .8 4 7 4 .2 - 0 .3 346.3 1 4 8 .2 298 1 9 6 1 .5 1 0 .8 349 1995.6 1 1 .7 478 1 6 8 .6 0 .0 9 5 0 .2 3 .2 1 0 1 .3 - 5 .0 1 8 .5 2 3 .7 8158.9 Co nst ruct io n & Inf rast ruct ure Go vt o f Ind ia
712 311
373 331 Hil, Hyderabad 3493.5 - 3 .8 2 4 7 .1 - 4 1 .7 97.1 - 5 3 .9 610 1 2 4 3 .7 6 .6 484 1708.8 1 2 .5 538 3 4 .0 - 3 0 .6 4 1 1 .3 - 1 .8 1 9 .6 - 7 6 .8 8 .1 8 .5 2107.6 Cem ent & Bl d g M at erials BirlaCK
631 468
374 299 Prakash In d u st r i es, Delhi/ NCR 3461.6 - 1 5 .1 4 2 4 .6 6 .3 190.5 1 2 .9 435 2 9 5 3 .8 5 .0 258 3596.4 5 .7 313 2 1 9 .4 - 4 .4 6 .6 7 .8 2910.7 M i n i n g & M et als A g ar w al BD
198 54
375 351 Em am i , Kolkata 3437.7 3 .3 9 2 4 .2 - 1 0 .1 639.6 - 2 3 .8 188 2 2 9 2 .8 1 0 .3 312 2444.0 1 .5 406 3 5 3 .0 0 .0 3 6 7 .8 1 5 .7 4 2 .1 2 8 .7 2 7 .9 22366.9 Co n su m er St ap l es Em am i
136 219
376 437 KPITTech n o l o g i es, Pune 3433.1 3 8 .6 6 7 5 .5 3 9 .7 381.0 3 8 .9 279 1 6 3 9 .8 2 6 .7 391 2260.6 3 6 .6 433 1 1 0 .8 3 2 .4 2 1 5 5 .3 3 3 .8 1 0 9 .9 6 1 .0 2 6 .1 2 7 .0 37165.9 Tech n o l o g y- So f t w ar e In d i an Privat e
** 166 430
377 871 Lloyd s M et al s& Energ y, Mumbai 3431.0 3 3 5 .6 - 3 0 9 .6 ** - 288.6 963 1 5 2 9 . 0 2 1 7 .5 417 1555.9 1 0 9 .0 570 5 3 .6 2 0 2 .6 - 1 0 9 .1 28564.7 M i n i n g & M et als Lloyd s
698 413
378 417 Herit ag e Fo o d s, Hyderabad 3427.3 2 7 .6 1 4 3 .6 - 2 3 .7 58.0 - 4 0 .0 716 7 2 5 .9 1 0 .4 668 920.7 3 1 .0 748 2 3 .2 0 .0 2 1 1 .5 1 4 .8 2 3 .8 - 3 0 .6 8 .4 1 0 .8 2226.2 Co n su m er St ap l es In d i an Privat e
214
379 357 Su m i t o m o Chem ical In d i a, Mumbai 3416.0 4 .8 7 1 2 .3 1 3 .3 502.2 1 8 .6 221 2 3 8 1 .8 2 3 .6 302 2438.3 2 2 .7 407 5 9 .9 2 0 .0 2 1 8 .4 8 .1 1 5 2 .0 - 0 .1 2 3 .3 2 9 .9 20033.4 Chem icals Fo r ei g n - Su m i t o m o 153
790
380 448 M ad ras Fert ilizers, Chennai 3413.0 4 3 .4 3 4 6 .8 2 5 .9 185.3 1 4 .1 446 - 2 8 7 .1 970 1250.7 - 2 .8 643 1 0 5 .6 2 .2 6 3 .3 1 4 9 5 .2 4 4 .2 1 6 .2 1388.0 Fert ilizers Go vt o f Ind ia 596
271
381 361 Tan la Plat f o rm s, Hyderabad 3380.8 4 .9 6 1 6 .3 - 1 4 .2 447.7 - 1 7 .0 248 1 5 1 7 .5 1 2 .1 419 1603.3 1 3 .3 557 1 3 4 .4 3 9 5 .2 1 3 3 .8 5 .5 1 1 9 .0 - 1 1 . 8 3 1 .2 3 7 .8 13340.2 Tech n o l o g y- So f t w ar e In d i an Privat e 58
128
1 2 5 .6 173 2 7 .0 210 8666.8 3 .2 163 2 3 0 .0 5 3 .7 2 0 .6 1 6 .5 Co nst ruct io n & Inf rast ruct ure JSW GROUP 672
382 449 JSW In f rast ru ct u re, Mumbai 3372.9 4 1 .8 1 7 9 8 .3 4 8 .0 739.8 3 9 0 0 .4 6 1 .5 - 3 5 . 7 41589.8
283
370 2 2 .6 463 2699.6 - 0 .5 376 2 4 .0 1 8 .3 Au t o An ci l l ar i es In d i an Privat e
383 433 Ram k r i sh n a Fo rg ing s, Kolkata 3365.4 3 3 .4 6 9 7 .8 3 4 .3 248.1 2 5 .3 1 3 2 1 .8 3 2 .0 1 7 .7 1 5 7 .7 1 2 6 .3 1 2 9 .0 2 0 .7 12731.9 510
623
653 3 .6 403 1746.3 3 .1 526 1 2 .4 7 .8 M i n i n g & M et als Tat a
384 404 Tata M et al i ks, Kolkata 3342.6 2 0 .1 2 1 1 .9 - 5 0 .3 80.5 - 6 6 .1 1 5 7 9 .5 1 5 .8 - 3 7 .5 1 6 3 .5 2 0 .2 - 8 0 . 1 5 .2 3050.1 351
351
295 1 9 .9 344 2510.8 1 4 .5 400 1 2 .9 2 0 .7 M i n i n g & M et als
385 398 Usha M ar t i n , Kolkata 3320.5 1 7 .7 5 5 3 .1 2 0 .6 350.1 2 0 .2 2 0 2 6 .5 7 6 .4 2 5 .0 3 7 2 .8 1 0 4 .8 9 1 .0 1 8 .8 9539.9 Jh a w a r B K 290

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

34 M arch 202 4 23
RANKED BY TOTAL REVENUES
m o o
RANK COMPANY, CITY ywvutsrponmlkihgedbaYTSRNMKJIHGDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 %CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
386 524 Fine Org anic In d u st ries, Mumbai 3310.5 6 9 .6 8 9 3 .5 1 2 5 .4 618.1 1 3 8 .1 196 1 5 4 1 .3 6 0 .7 4 1 4 1569.8 5 4 .1 565 2 7 .6 0 .0 1 0 5 .3 1 8 .0 2 2 2 .9 1 4 2 . 8 4 9 .4 6 5 .3 13886.0 266 Chem icals In d i an Privat e 11
387 418 Syn g en e In t er n at i o n al , Bengaluru 3305.8 2 3 .4 1 0 0 5 .3 2 2 .9 464.4 1 7 .3 237 3 6 1 8 .0 9 .7 222 4754.8 3 .0 263 5 0 .2 2 5 .2 8 4 1 .7 1 7 .2 1 2 9 .2 4 5 .8 1 3 .4 1 3 .6 29181.1 163 Ph ar m aceu t i cal s Bio co n 366
388 364 Su t lej Text iles a n d In d u st ries, Mumbai 3300.3 3 .9 2 4 9 .7 - 3 8 .6 37.3 - 7 5 .2 783 1 1 0 9 .4 0 .9 513 2086.4 0 .8 458 1 6 .4 - 4 5 .9 4 3 6 .3 5 .7 2 7 .7 - 6 7 . 6 5 .0 7 .5 955.0 845 Te x t i l e s Gar m en t s Birla KK 583
389 262 Gl axo sm i t h k l i n e Ph ar m a, Mumbai 3296.9 - 2 9 .6 9 0 7 .0 - 5 8 .1 610.7 - 6 4 .0 198 1 7 4 1 .3 3 4 .6 378 2012.3 - 3 1 .7 474 5 4 2 .1 - 6 4 .4 5 9 5 .0 - 2 .5 2 2 8 .8 - 4 2 . 6 2 7 .7 3 3 .9 27022.2 171 Ph ar m aceu t i cal s Foreign - Gl axo 64
390 422 SJVN, Shimla 3294.1 2 4 .4 2 5 8 3 .2 2 9 .8 1359.3 3 7 .3 96 1 3 8 5 9 .5 5 .2 65 28804.7 3 4 .9 60 6 9 5 .6 4 .1 2 8 6 .9 - 1 .3 3 7 8 .4 2 .3 1 0 .1 8 .7 31337.6 158 Po w er Govt of Ind ia 799

391 399 Pearl Glo b al In d u st r i es, Delhi/ NCR 3292.6 1 6 .9 3 0 8 .7 5 7 .9 149.3 1 1 9 .0 488 7 0 2 .2 2 0 .4 678 1314.5 1 .1 629 1 6 .3 5 0 .0 5 6 1 .5 2 2 .4 2 2 .9 4 5 .5 2 3 .2 1 9 .7 2731.3 645 Te x t i l e s Gar m en t s In d i an Privat e 403

392 414 Elgi Eq u i p m en t s, Coimbatore 3292.6 2 2 .3 6 1 2 .2 7 3 .7 370.8 1 0 7 .8 284 1 3 7 1 .2 3 2 .8 454 1965.2 3 2 .5 480 6 3 .4 7 3 .9 5 7 1 .9 1 8 .2 1 3 9 .6 6 4 .9 2 3 .8 2 4 .2 16257.4 241 Capit al Go o d s Elgi 274

393 463 Cr af t sm an A u t o m at i o n , Coimbatore 3265.8 4 4 .7 6 9 6 .6 2 8 .5 248.4 5 2 .3 369 1 3 1 5 .9 1 5 .9 466 2620.9 3 5 .2 388 2 3 .8 2 0 0 .0 2 3 3 .5 2 4 .4 1 0 3 .8 1 7 .1 2 0 .0 2 0 .8 10419.1 328 Aut o An cillaries In d i an Privat e 518

394 430 GM M Pf au d ler, Mumbai 3264.8 2 6 .6 4 6 1 .3 5 8 .7 166.6 9 5 .9 467 7 9 2 . 8 1 0 5 .5 631 2070.4 3 4 .1 465 9 .0 2 .6 7 9 1 .6 1 1 .0 6 1 .7 6 .4 3 2 .1 1 8 .9 7433.8 415 Capit al Go o d s Fo r ei g n - GM M 612

395 390 Rad ico Kh ai t an , Delhi/ NCR 3248.5 1 2 .8 3 6 8 .1 - 1 0 .2 220.4 - 1 6 .3 399 2 2 0 7 .9 8 .9 329 2973.9 3 2 .8 355 4 0 .1 0 .0 1 6 8 .9 1 9 .6 7 0 .4 - 1 5 .3 9 .7 1 1 .4 18933.7 221 Dist illers SW i n e r i e s Kh ai t an K L 399

396 369 HM AAg ro In d u st r i es, Agra 3247.9 3 .1 2 0 4 .5 1 3 .9 120.4 4 .9 554 4 5 4 .0 2 7 .1 782 821.6 1 6 .4 787 1 4 .3 5 0 .0 9 6 .5 - 8 .6 5 0 .1 1 8 .9 2 9 .1 2 4 .5 3510.9 585 Food Pro cessing In d i an Privat e 269

397 396 TVSSr i ch akr a, Madurai 3225.4 1 3 .8 2 3 7 .3 3 6 .9 78.0 7 9 .4 661 1 0 3 4 .7 6 .5 537 1721.8 2 .2 534 2 4 .6 9 6 .9 3 0 8 .3 4 .6 2 3 .6 4 9 .5 7 .8 8 .6 3317.5 601 Tyres TVS R Ram ach an d r 386

398 434 Tat a El xsi , Bengaluru 3218.4 2 7 .9 1 0 3 6 .2 2 7 .7 755.2 3 7 .4 172 2 0 8 5 .8 3 0 .3 337 2315.8 3 0 .2 423 3 7 7 .4 4 2 .6 1 5 9 7 .8 2 4 .0 1 8 2 .3 - 6 .9 4 1 .0 4 6 .6 50400.3 103 Tech n o l o g y- So f t w ar e Tata 115

399 395 N i l k am al , Mumbai 3175.8 1 1 .9 3 3 0 .3 3 6 .8 134.0 6 0 .7 515 1 3 1 3 .5 9 .4 468 1743.8 7 .0 527 2 9 .8 3 3 .3 2 2 1 .6 1 2 .7 4 3 .0 6 5 .1 1 0 .7 1 2 .9 3359.5 595 Pet r o ch em i cal sS Plast ics In d i an Privat e 299

400 371 Orient Cem en t , Delhi/ NCR 3173.9 2 .6 3 7 6 .6 - 3 7 .3 122.8 - 5 3 .3 546 1 6 0 3 .7 5 .1 397 2082.7 1 0 .3 462 3 0 .7 - 4 0 .0 1 6 6 .1 9 .0 6 9 .1 - 5 0 .9 7 .9 1 1 .6 4488.1 525 Ce m e n t s Bl d g M at erials Birla CK 389

401 435 J B Chem icals S Ph ar m a, Mumbai 3170.2 2 7 .8 7 0 5 .7 2 1 .1 409.8 6 .4 264 2 4 8 0 .4 1 6 .5 289 3070.5 3 9 .2 352 1 3 7 .4 7 .7 5 4 3 .5 2 3 .7 1 4 5 .2 2 2 .2 1 7 .8 2 2 .4 22642.3 196 Ph ar m aceu t i cal s In d i an Privat e 250

402 421 Go o d l u ck In d i a, Delhi/ NCR 3165.7 1 9 .3 2 1 9 .2 1 7 .3 87.8 1 7 .1 637 6 2 0 .0 3 3 .1 713 1224.1 1 5 .3 648 1 2 .3 3 4 .7 1 2 5 .9 3 0 .3 3 3 .3 3 0 .1 1 6 .2 1 6 .3 2705.5 646 M i n i n g S M et als In d i an Privat e 567

403 634 Vi n d h ya Tel el i n ks, Delhi/ NCR 3162.0 1 1 1 .0 3 3 7 .4 0 .0 185.3 - 4 .1 447 3 1 9 3 .0 6 .0 239 4091.2 6 .8 287 1 7 .8 5 0 .0 1 1 0 .7 2 6 .5 6 1 .3 - 5 .8 6 .0 8 .6 2751.7 642 Capit al Go o d s Birla M P 724

404 551 Ram k y Inf rast ruct ure, Hyderabad 3161.0 7 7 .5 1 7 9 3 .9 2 4 0 .2 1140.6 4 7 2 8 .8 120 1 2 7 5 .2 7 4 0 . 8 478 3223.8 2 4 .9 337 7 1 .5 4 0 .8 2 3 6 .5 1 8 6 .7 7 .4 1 4 .7 4750.9 515 Co nst ruct io n S Inf rast ruct ure Ram k y 687
344 1 7 9 2 .7 1 2 .7 372 2686.5 - 8 .0 377 2 4 2 .3 8 1 .8 - 3 5 .8 1 6 .4 1 5 .0 485 In d o Count 364
405 375 In d o Count In d u st ries, Mumbai 3108.5 1 .3 4 8 5 .7 - 1 5 .4 276.8 - 2 2 .8 3 9 .6 0 .3 4 7 .6 5482.8 Te x t i l e s Gar m en t s
368 581 Dalm ia - Bh ar at 339
406 391 Dalm ia Bh ar at Sug ar S In d s, Delhi/ NCR 3100.6 7 .8 5 1 3 .9 - 0 .4 250.1 - 1 5 .3 2 7 0 5 .0 1 4 .7 274 3200.6 - 1 .1 340 3 2 .4 0 .0 1 8 7 .7 1 3 .2 1 0 4 .9 1 5 .3 9 .9 1 2 .2 3538.9 Sug ar
374 761 Jai p u r i a 523
407 362 Cosmo First , Delhi/ NCR 3096.1 - 3 .5 4 3 4 .3 - 2 9 .9 244.0 - 3 8 .5 1 2 9 8 .1 9 .0 471 2312.6 1 0 .7 426 1 3 .1 - 7 9 .4 2 1 7 .1 - 1 .1 5 9 .9 - 5 0 .1 1 9 .6 1 6 .3 1665.2 Packag in g
389 621 Hinduja 240
408 456 Gulf Oil Lub ricant s In d i a, Mumbai 3085.0 3 5 .3 3 9 0 .0 1 8 .3 232.3 1 0 .1 1 1 7 8 .4 1 3 .0 505 1557.2 8 .3 569 1 2 2 .5 3 8 5 .5 1 3 5 .2 1 5 .8 8 0 .4 9 .7 2 0 .9 2 3 .4 3068.7 O i l S Lub ricant s
*
- 11.8 902 981 911.6 - 1 1 .0 753 5 .6 0 .0 967 In d i an Privat e
409 389 Elect ro t h erm (In d i a), GandhiNagar 3070.9 6 .5 1 0 4 .5 1 2 .4 - 1 0 9 6 .2 1 4 4 .8 229.5 Capit al Go o d s 813
59.5 710 783 473.2 2 0 .6 916 2 .3 2 1 .8 709 In d i an Privat e
410 410 Precisio n Wires In d i a, Silvassa 3065.2 1 2 .6 1 2 8 .4 3 .3 - 5 .6 4 5 0 .3 2 3 .4 1 0 .7 - 6 5 .7 3 5 .1 2 .6 1 4 .6 2 6 .4 2165.2 M i n i n g S M et als 131
880 992 In d i an Privat e
411 622 Prit hvi Exch an g e (In d i a), Chennai 3053.9 1 0 0 .5 7 .4 6 2 6 .5 4.6 5 6 8 7 .5 3 1 .7 1 5 .9 954 38.2 2 1 .1 997 0 .4 5 .9 2 2 .0 1 .6 2 5 8 3 . 3 1 5 .8 1 9 .7 91.0 M i scel l an eo u s 452
210 450 Bh i l w ar a - JLN
412 441 HEG, Delhi/ NCR 3052.0 2 5 .4 8 0 5 .7 2 4 .5 532.4 2 3 .5 4 2 8 0 .9 9 .4 195 5030.3 9 .6 248 1 6 4 .1 6 .3 9 2 .1 1 5 .1 1 4 5 .0 1 2 .0 1 3 .0 1 4 .6 6545.7 Capit al Go o d s 551
860 591 In d i an Privat e
413 381 VaTech W ab ag , Chennai 3031.7 0 .6 9 1 .4 - 6 5 .7 12.9 - 9 0 .3 1 5 7 5 .2 1 .5 404 1948.3 - 1 0 .6 487 2 6 5 .5 5 .9 5 .9 - 8 3 .8 3 .1 1 7 .8 3416.6 Capit al Go o d s 492
355 193 Ravi Jai p u r i a
414 494 Devyan i In t er n at i o n al , Delhi/ NCR 3030.3 4 4 .1 6 7 0 .0 4 1 .6 265.0 6 9 .5 9 7 6 .5 4 1 .3 564 2560.0 3 0 .4 397 3 4 5 .2 3 9 .0 - 2 0 .6 1 8 .0 1 3 .5 23037.6 Hot els S Rest au ran t s 665
222 612 In d i an Privat e
415 374 M ai t h an Al l o ys, Burdwan 3027.9 - 1 .8 6 6 1 .8 - 4 0 .0 499.1 - 3 9 .0 2 8 0 3 .3 2 0 .7 266 2827.4 2 1 .3 368 1 7 .5 0 .0 3 8 .1 1 5 .0 1 3 7 .8 - 4 7 .8 1 9 .5 2 4 .9 3163.6 M i n i n g S M et als 165
728 657 In d i an Privat e
416 541 Parag M ilk Fo o d s, Mumbai 3009.8 6 0 .9 1 6 5 .1 *** 53.3 8 0 7 .9 4 5 .8 623 1418.1 3 0 .0 601 9 8 .1 1 7 .2 - 2 .2 7 .3 8 .3 2614.3 Co n su m er St ap l es 727
520 490 A n an d Gro up
417 451 Gab riel In d i a, Delhi/ NCR 3008.4 2 7 .2 2 3 1 .1 3 4 .3 132.4 4 7 .8 8 7 0 .3 1 3 .5 599 894.6 1 2 .6 758 3 6 .6 6 4 .5 1 8 3 .1 1 4 .7 4 5 .6 2 3 .3 1 6 .2 2 1 .6 5398.0 Aut o An cillaries 34
667 772 Pen n ar
418 446 Pen n ar In d u st r i es, Hyderabad 2994.1 2 5 .4 2 5 4 .6 3 5 .1 75.4 8 0 .3 7 7 7 .1 5 .8 639 1481.4 5 .2 584 3 1 0 .9 4 7 .5 2 3 .0 6 4 .4 1 0 .0 1 3 .1 1531.6 M i n i n g S M et als 529
195 230
419 344 San o f i In d i a, Mumbai+ 2984.7 - 1 4 .2 9 0 7 .9 - 3 1 .5 620.6 - 3 4 .3 1 2 7 5 .8 • 4 2 .7 477 1334.9 - 4 2 .3 627 1 3 1 1 .0 1 6 .3 4 0 5 .9 - 6 .5 2 4 3 .7 - 2 2 .2 3 0 .1 4 0 .3 17888.0 Ph ar m aceu t i cal s Foreign - San o f i - A ven t i s 15
420 416 H u h t am ak i In d i a, Mumbai+ 2984.3 1 1 .0 1 7 4 .9 9 8 .3 49.6 740 7 5 7 .0 5 .9 654 1181.3 3 .4 657 1 5 .1 1 0 0 .1 2 5 3 .6 - 1 .6 6 .3 6 .8 7 .7 2180.4 706 Packag in g Foreign - H u h t am ak i 346
421 386 Sh eel a Fo am , Delhi/ NCR 2971.9 0 .6 3 8 3 .8 - 2 .6 201.2 - 7 .4 413 1 5 9 2 .1 1 5 .0 399 2210.7 1 4 .6 442 2 7 9 .8 9 .5 7 0 .0 - 9 .8 1 3 .6 1 4 .2 12389.4 290 Text ile S Gar m en t s In d i an Privat e 316
422 457 Gravit a In d i a, Jaipur 2927.9 2 8 .5 2 9 5 .1 3 2 .2 201.1 4 4 .3 414 5 7 6 .2 5 4 .5 728 955.0 2 0 .5 731 3 0 .0 4 5 .0 1 3 3 .6 3 0 .0 2 3 .5 4 5 .2 4 1 .8 3 1 .0 7217.9 422 M i n i n g S M et als In d i an Privat e 254
670 1615.9 9 .6 554 3 8 4 .6 2 0 .8 2 6 .8 5 .1 2686.3 650 In d i an Privat e 479
423 452 San d h ar Tech n o l o g i es, Delhi/ NCR 2927.8 2 4 .4 2 5 7 .7 2 9 .4 73.0 3 0 .9 9 1 6 .0 7 .1 584 1 5 .1 1 1 .2 8 .3 Aut o An cillaries
544 646.4 - 1 4 .9 859 1 7 1 .1 4 .9 4 2 .5 1 9 .6 625 Foreign - Go o d year 47
424 425 Go o d year In d i a, Delhi/ NCR 2925.9 1 1 .8 2 2 3 .2 1 4 .3 122.9 1 9 .4 6 0 3 .1 1 5 .3 718 6 1 .1 - 7 3 .5 1 8 .7 2 4 .2 3026.3 Tyres
626 1909.7 4 .5 491 2 5 5 .8 6 .9 - 3 7 .9 528 Tata 214
425 415 Rallis In d i a, Mumbai 2895.7 7 .7 2 3 3 .2 - 2 3 .1 91.9 - 4 4 .0 1 7 3 0 .1 2 .0 380 4 8 .6 - 1 6 .7 3 6 .1 5 .4 7 .6 4453.4 Agro Chem icals
363 321 TTK
426 393 TTK Prest ig e, Bengaluru 2877.3 0 .8 4 0 6 .3 - 1 2 .0 254.2 - 1 6 .6 1 9 3 3 .0 1 1 .9 353 2071.5 1 3 .6 464 8 3 .2 0 .0 2 3 6 .4 8 .1 8 8 .2 - 1 6 .1 1 3 .9 1 8 .2 10764.0 Co n su m er Du r ab l es 166
426 503
427 412 A h l u w al i a Co nt ract s, Delhi/ NCR 2867.9 5 .4 3 3 3 .5 1 6 .7 194.0 2 5 .0 1 2 2 8 .3 1 8 .7 490 1382.9 1 8 .4 612 2 .7 3 3 .3 2 0 0 .0 6 .5 6 7 .7 2 7 .3 1 7 .1 2 3 .1 5067.3 Realt y In d i an Privat e 99
273 195
428 453 Ti m k en In d i a, Bengaluru 2865.4 2 2 .3 6 1 3 .5 1 6 .9 390.8 1 9 .5 2 0 3 7 .2 2 2 .9 343 2132.7 2 1 .1 452 1 1 .3 0 .0 1 5 9 .1 1 3 .2 1 3 2 .8 1 9 .5 2 1 .2 2 7 .0 22873.6 Aut o An cillaries Foreign - Ti m k e n 171
331 778
429 518 So u t h er n Pet ro chem icals In d s, Chennai 2843.7 4 3 .0 3 9 5 .9 7 0 .4 300.7 8 4 .1 9 8 5 .8 4 2 .1 560 1421.5 3 8 .0 600 3 0 .6 2 0 0 .1 7 3 .3 9 .4 2 0 .5 9 8 .3 3 5 .8 2 8 .7 1462.8 Fert ilizers MAC 728
527 299
430 640 Tit ag arh Rail Syst em s, Kolkata 2837.5 9 2 .4 2 8 4 .4 1 7 3 .1 130.2 9 6 3 .6 1 4 .4 570 1348.5 - 2 3 .6 623 6 .0 5 6 .5 2 4 .5 5 5 .5 9 0 .0 1 3 .9 1 6 .8 11948.2 Capit al Go o d s In d i an Privat e 447
176 262
431 504 Natco Ph ar m a, Hyderabad 2835.4 3 7 .6 1 0 4 0 .2 1 8 7 .0 715.3 3 2 0 .8 4 8 7 3 .8 1 4 .3 174 5127.5 7 .4 240 1 0 0 .4 2 2 .2 4 8 6 .7 9 .4 1 4 6 .6 3 5 5 .3 1 5 .7 1 7 .7 14240.7 Ph ar m aceu t i cal s Natco 321
524 755
432 436 San g am In d i a, Mumbai 2824.2 1 3 .9 2 9 3 .0 - 3 .1 130.5 - 6 .7 8 8 3 .1 2 3 .4 596 1719.6 2 9 .7 535 9 .0 3 .8 2 3 1 .2 1 5 .1 2 9 .1 - 3 3 .0 1 8 .1 1 5 .2 1721.5 Text ile S Gar m en t s San g am 594
* 325
433 354 GETSD In d i a, Chennai 2820.1 - 1 4 .1 1 4 3 .6 2 0 6 .0 - 1.5 894 1 0 7 2 .7 - 0 .7 522 1448.1 2 .8 589 3 5 3 .8 - 1 3 .7 2 8 .2 - 0 .2 7 .0 10608.0 Capit al Go o d s Foreign - Al st o m 420
314 463
434 482 VRL Logist ics, Hubli 2819.9 2 9 .1 5 7 5 .0 4 4 .9 323.2 1 0 1 .9 9 7 5 .8 4 9 .8 565 1736.7 4 0 .8 529 4 4 .2 - 3 7 .5 4 1 4 .9 1 9 .6 3 6 .4 - 2 5 .1 3 9 .7 1 7 .4 6114.5 Tran sp o rt S Logistics In d i an Privat e 444
*
977 144
435 609 PB Fin t ech , Delhi/ NCR 2816.8 8 1 .7 - 4 0 2 .5 * - 487.2 5 4 6 7 .8 1 .0 155 5727.5 2 .3 221 1 5 3 9 .6 2 2 .6 0 .0 34634.7 Tech n o l o g y- So f t w ar e In d i an Privat e 814
745 637
436 460 Su b r o s, Delhi/ NCR 2814.3 2 3 .9 1 8 7 .9 1 8 .5 47.9 4 7 .5 8 6 7 .3 5 .3 601 898.9 3 .5 756 6 .5 4 2 .9 2 4 7 .7 9 .1 2 2 .9 7 9 .1 5 .7 2811.4 Aut o An cillaries Lalit Su ri 101
549 522
437 462 Do d la Dairy, Hyderabad 2812.1 2 4 .5 2 1 5 .2 - 4 .5 122.3 - 7 .9 9 7 2 .2 1 5 .3 566 1016.5 1 6 .9 712 1 1 9 .2 1 6 .3 2 9 .6 - 9 .8 1 3 .5 1 6 .3 4545.6 Co n su m er St ap l es In d i an Privat e 84
581 834
438 315 N ah ar Sp i n n i n g M i l l s, luudhiana 2806.0 - 2 6 .5 2 5 6 .1 - 6 8 .9 110.8 - 7 7 .9 1 5 5 3 .9 - 2 .9 409 2291.8 - 1 2 .4 429 5 .4 - 5 7 .2 2 5 5 .3 - 4 .6 3 9 .6 - 7 7 .1 7 .0 7 .5 1008.5 Text ile S Gar m en t s N ahar Gro up 512
883
439 419 Jayan t Agro Org anics, Mumbai 2805.1 5 .6 9 9 .4 - 3 5 .3 49.4 - 4 4 .3 741 4 7 6 .4 8 .8 771 599.0 - 3 .4 878 1 5 .0 .7 5 3 .0 1 1 .9 1 8 .8 - 4 0 .9 1 0 .7 1 3 .8 689.4 Chem icals In d i an Privat e 197
617
440 561 Greaves Cot t on, Mumbai 2799.6 6 1 .1 1 8 1 .2 3 0 5 .0 78.0 660 1 2 0 5 .5 6 0 .9 495 1634.0 5 8 .7 551 2 0 .9 3 5 0 .3 2 1 8 .1 2 3 .7 4 3 .1 1 6 9 .6 6 .6 1 0 .3 3105.7 Capit al Go o d s Th ap ar Brij M 508

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG are y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s

D C. Business Standard
J U M arch 2 02 4 37
RANKED BY TOTAL REVENUES
EH1000
RANK COMPANY, CITY ywvutsrponmlkjihgedcbaYVTSRPNMKJIHGDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECTTAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 % CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
441 439 DCW, Mumbai 2797.1 1 3 .8 4 9 0 .7 4 2 .3 192.0 7 8 .6 433 1 0 2 5 .1 2 7 .8 5 4 4 1585.3 1 1 .2 562 8 .9 - 1 5 .2 1 8 2 .2 1 6 .5 8 2 .4 1 3 0 . 6 1 7 .5 2 3 .5 1610.9 765 Chem icals In d i an Privat e 546
442 536 Su p r aj i t En g i n eer i n g , Bengaluru 2793.4 4 6 .5 3 5 1 .3 1 4 .0 152.1 - 1 2 .1 485 1 2 2 4 .5 1 3 .0 491 1957.9 3 6 .8 484 3 1 .8 1 5 .0 5 7 4 .4 7 0 .8 6 8 .1 9 .7 1 3 .2 1 5 .1 5228.0 497 Au t o An ci l l ar i es In d i an Privat e 442
443 365 Laxm i Org anic In d s, Mumbai 2786.1 - 1 2 .2 2 6 0 .2 - 3 2 .6 124.6 - 5 1 .6 535 1 4 1 1 .2 9 .4 445 1821.6 2 7 .1 507 1 3 .3 - 2 8 .2 1 0 2 .3 - 6 .0 4 8 .3 - 2 1 . 4 9 .2 1 1 .5 7577.0 411 Chem icals In d i an Privat e 379
**
444 491 RHI M ag nesit a In d i a, Delhi/ NCR 2778.9 3 0 .6 - 2 8 5 .2 ** - 466.1 973 2 8 0 1 .7 1 7 2 . 3 267 4484.7 3 0 9 .6 269 4 7 .0 1 6 .8 2 0 3 .8 6 5 .0 6 9 .4 - 2 1 . 6 1 4 .0 1 0 .9 15027.6 253 M i n i n g & M e t al s In d i an Privat e 779
445 468 St ar Cem en t , Guwahati 2774.8 2 4 .6 5 2 0 .5 3 7 .5 247.6 0 .3 371 2 4 1 6 .4 1 1 .4 299 2633.4 1 1 .9 384 1 9 5 .9 2 2 .9 1 3 2 .1 - 1 0 .8 1 5 .6 6684.6 443 Cem ent & Bl d g M at erials In d i an Privat e 190
446 475 Glo b al H eal t h , Delhi/ NCR 2760.7 2 5 .0 6 8 5 .5 3 8 .0 326.1 6 6 .2 312 2 4 2 8 .2 5 0 .3 297 3664.0 2 9 .4 311 6 3 4 .4 1 1 .7 1 2 3 .2 4 6 .1 1 6 .1 1 6 .5 23189.9 191 Healt h care In d i an Privat e 574
447 534 Gard en Reach Sh i p b u i l d er s, Kolkata 2758.3 4 4 .0 3 5 4 .8 2 0 .4 228.1 2 0 .4 393 1 4 1 3 .8 1 2 .4 443 1823.4 3 3 .5 506 7 1 .0 6 .9 3 1 6 .9 9 .2 7 7 .1 1 3 .9 1 7 .1 1 9 .8 9196.8 360 Aero sp ace & Defence Govt o f Ind ia 108
448 424 In d ian M et als & Ferro Allo ys, Bhubaneswar 2754.2 4 .7 4 9 7 .1 - 3 9 .9 225.3 - 5 5 .6 397 1 8 4 2 .5 9 .4 368 2229.9 - 5 .3 438 5 4 .0 - 2 0 .0 1 9 6 .1 - 5 .4 9 8 .1 - 3 4 .6 1 2 .6 1 7 .0 2531.1 667 M i n i n g & M e t al s In d i an Privat e 482
449 543 Texm aco Rail & En g i n eer i n g , Kolkata 2749.8 4 7 .9 1 7 1 .8 5 .6 26.0 2 7 .0 817 1 3 9 4 .6 4 .6 451 2475.2 1 4 .4 404 4 .8 5 0 .0 1 3 0 .1 3 .2 8 .9 - 3 7 .4 0 .9 5 .9 5490.2 484 Capit al Go o d s Ad ven t z 853
450 455 Sh ar d a M otor In d u st r i es, Delhi/ NCR 2745.0 1 9 .5 3 2 6 .4 3 3 .2 208.3 3 9 .6 409 7 5 7 .9 3 2 .3 653 791.3 3 3 .4 803 5 1 .4 1 1 1 .9 9 8 .5 6 .6 6 9 .9 3 0 .1 3 1 .3 4 0 .5 3339.5 597 Au t o An ci l l ar i es In d i an Privat e 233
**
451 83 Info Ed g e (In d i a), Delhi/ NCR 2738.5 - 8 2 .2 2 3 2 .0 - 9 8 .4 - 107.4 938 1 2 3 7 0 .2 2 4 .7 77 13510.8 - 2 2 .0 107 2 4 5 .1 4 6 .5 1 0 9 7 .3 4 7 .0 2 1 1 .1 - 8 4 .0 - 1 .6 2 .9 58765.2 85 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e 370
452 326 Ind ia Glyco ls, GautamBadhNagar 2736.8 - 2 5 .4 3 5 8 .9 - 3 2 .2 125.1 - 6 3 .2 532 1 9 0 1 .4 5 .0 359 3181.6 3 .6 344 2 3 .2 0 .0 8 8 .8 - 0 .4 2 4 .0 - 3 9 .2 6 .7 7 .8 2190.8 703 Chem icals Bh ar t i a ML 679
453 394 Rel axo Fo o t w ear s, Delhi/ NCR 2723.7 - 4 .4 3 5 6 .8 - 1 9 .2 154.5 - 3 3 .6 480 1 8 5 5 .1 5 .4 366 2038.5 4 .4 469 6 2 .2 0 .0 3 4 3 .3 2 .6 5 5 .5 - 2 8 .7 8 .6 1 1 .6 22528.0 197 Fo o t w ear & Accesso ries In d i an Privat e 180
454 429 Aart i Drug s, Mumbai 2720.0 5 .2 3 1 1 .7 - 9 .4 166.3 - 1 8 .9 468 1 1 9 2 .2 1 5 .0 499 1821.0 1 4 .0 508 9 .3 0 .0 8 0 .4 1 6 .0 5 7 .8 - 1 1 .0 1 4 .9 1 5 .3 4555.9 521 Ph ar m aceu t i cal s Al ch em i e Gro up 480
455 440 GTPLH at h w ay , Ahmedabad 2714.8 1 0 .5 4 9 8 .2 - 1 0 .6 113.9 - 4 2 .9 573 9 9 6 .7 6 .2 554 1292.2 8 .0 633 4 5 .0 0 .0 1 4 4 .8 2 0 .0 4 4 .5 - 3 7 .5 1 3 .0 1 5 .9 1977.6 725 M ed ia & En t er t ai n m en t M u kesh A m b an i 271
456 481 eCl er xSer vi ces, Mumbai 2713.9 2 4 .2 7 8 9 .2 1 5 .0 488.8 1 7 .1 226 1 7 1 3 .2 9 .4 383 1964.7 9 .8 481 4 .8 4 5 .0 1 5 0 9 .5 2 6 .3 1 6 3 .8 1 4 .8 2 9 .8 3 6 .0 11264.9 311 Tech n o l o g y- So f t w ar e In d i an Privat e 142
457 458 Ram Rat n a W i r es, Mumbai 2708.5 1 9 .0 1 1 6 .4 - 1 .2 44.9 - 1 4 .0 755 2 9 7 .5 1 4 .0 864 579.7 6 .9 885 1 1 .0 0 .0 4 3 .6 1 9 .7 1 7 .4 - 5 .4 1 6 .1 1 7 .5 1201.9 813 M i n i n g & M e t al s In d i an Privat e 459
458 432 Avad h Sug ar & Energ y, Sitapur 2707.7 7 .1 2 6 4 .0 - 1 4 .0 100.2 - 1 9 .4 600 8 9 1 .2 1 0 .0 592 1962.4 - 3 .3 482 2 0 .0 0 .0 1 2 0 .4 2 0 .3 4 3 .4 1 .3 1 1 .8 1 0 .7 1425.4 786 Sug ar Birla KK 633
459 384 Vai b h av Gl o b al , Jaipur 2697.1 - 9 .3 2 2 7 .3 - 3 1 .4 105.0 - 5 5 .8 588 1 1 9 9 .6 6 .6 496 1399.6 8 .0 606 9 8 .9 0 .7 5 1 5 .1 1 .1 3 6 .2 8 .1 9 .0 1 1 .1 6915.9 432 Jew el l er y In d i an Privat e 249
460 405 M eg h m an i Org anics, Ahmedabad 2695.2 - 2 .4 4 5 5 .9 - 5 .2 237.7 - 2 1 .9 382 1 6 6 9 .2 1 3 .8 386 2531.5 2 7 .3 398 3 5 .6 0 .0 1 0 8 .4 1 6 .0 7 5 .4 2 7 .8 1 5 .2 1 6 .8 1936.0 728 Agro Chem icals In d i an Privat e 634
*
461 367 2689.0 - 1 5 .0 - 7 1 .0 ** - 559.0 979 3 0 4 6 .0 1 2 .9 249 5642.0 - 9 .5 223 6 3 7 .0 - 1 5 .0 - 3 .0 - 9 .2 - 0 .5 4379.3 531 Ph ar m aceu t i cal s W o ck h ar d t 913
W o ck h ar d t , Mumbai
462 407 Prince Pip es & Fit t ing s, Mumbai 2684.8 - 2 .4 2 5 8 .9 - 3 8 .5 121.4 - 5 1 .3 551 1 3 6 4 .0 7 .8 457 1440.6 0 .7 593 1 0 9 .8 9 .1 4 3 .4 - 5 0 .4 9 .2 1 2 .3 7597.5 410 Pet ro ch em icals & Plast ics In d i an Privat e 133
**
- 7.9 897 8 4 9 .0 2193.2 2 4 .4 444 4 2 .3 - 5 .2 - 1 .2 5 .1
463 532 V- M ar t Ret ai l , Delhi/ NCR 2682.2 3 9 .7 2 8 3 .9 3 0 .1 - 0 .1 606 2 5 5 .5 3612.5 576 Ret ail In d i an Privat e 823
75.9 665 5 8 4 .6 711.6 1 0 .3 831 1 .1 2 6 .1 1 3 .5 1 8 .3
464 426 Orient Elect ric, Delhi/ NCR 2669.5 2 .5 1 7 7 .6 - 2 5 .1 - 4 0 .1 8 .0 723 3 1 .9 - 2 4 .8 1 9 2 .6 - 3 9 .5 4702.4 517 Co nsum er Durab les Birla CK 95
294 3 2 1 1 .5 6472.0 6 2 .3 204 - 6 .7 1 2 9 .6 1 1 .3 9 .3
465 382 Bh ar at Dyn am i cs, Hyderabad 2663.8 - 1 1 .6 5 6 4 .6 - 2 9 .9 352.2 - 2 9 .6 6 .0 237 1 7 1 .4 1 2 .7 5 3 2 .5 - 3 8 .3 21551.3 204 Aero sp ace & Defence Govt o f Ind ia 340
466 485 Sh r i r am Pist o ns & Rin g s, Delhi/ NCR 2647.8 2 2 .9 5 0 7 .0 5 2 .0 293.5 7 9 .4 336 1 5 0 3 .7 2 0 .7 422 1899.2 3 1 .1 493 3 3 .0 5 0 .0 4 1 4 .4 5 .8 9 9 .1 7 5 .0 2 1 .3 2 4 .8 4760.4 514 Au t o An ci l l ar i es Si d d h ar t h S 228
467 476 So n a BLW Precisio n Fo rg ing s, Delhi/ NCR 2646.8 1 9 .9 7 0 4 .0 1 8 .8 395.3 9 .3 271 2 2 9 0 .2 1 4 .5 313 2602.6 2 0 .4 391 1 6 4 .5 8 2 .8 1 8 0 .4 6 .8 1 1 3 .8 6 1 .1 1 8 .4 2 2 .1 33118.7 152 Au t o An ci l l ar i es In d i an Privat e 384
468 471 M ast ek, Mumbai 2644.5 1 9 .1 5 1 9 .5 4 .2 293.0 - 0 .7 337 1 5 9 2 .3 7 2 .9 398 2396.5 5 5 .8 412 5 8 .0 1 .7 1 3 7 5 .9 2 5 .6 1 1 7 .1 2 .2 2 2 .5 2 3 .0 7375.0 417 Tech n o l o g y- So f t w ar e In d i an Privat e 573
469 427 Rit es, Delhi/ NCR 2642.3 1 .8 8 6 1 .9 5 .9 542.0 5 .0 209 2 4 8 8 .4 4 .4 288 2904.0 7 .0 363 4 9 2 .6 2 0 .6 5 0 8 .5 - 1 .7 2 0 3 .0 3 .3 2 2 .4 2 8 .3 11459.1 308 Co nst ruct io n & Inf rast ruct ure Govt o f Ind ia 205
470 346 Cochin Sh i p yar d , Kochi 2634.8 - 2 3 .8 5 3 0 .6 - 4 0 .2 304.7 - 4 6 .0 326 4 4 2 7 .7 0 .8 186 5059.7 1 .5 245 1 3 1 .5 - 4 0 .3 3 3 7 .0 7 .5 1 1 3 .7 - 4 3 .7 5 .9 8 .0 14716.9 258 Aero sp ace & Defence Govt o f Ind ia 314
471 488 Gr i n d w el l N o rt o n , Mumbai 2626.6 2 2 .9 5 5 3 .8 2 2 .1 361.9 2 2 .4 287 1 7 9 1 .4 1 5 .3 374 1891.2 1 7 .4 494 1 6 0 .5 20. 2 9 7 .4 1 8 .6 1 2 4 .4 2 3 .4 2 1 .5 2 8 .3 23697.2 186 Capit al Go o d s Fo r ei g n - Sai n Go b ain 103
472 502 H i n d u st an Fo o d s, Panaji 2616.8 2 5 .8 1 7 7 .9 5 2 .9 71.1 5 9 .2 678 3 7 4 .1 2 3 .3 824 892.9 3 6 .0 759 5 5 .6 3 6 .3 3 3 .4 2 4 .5 2 1 .0 1 8 .1 6080.6 464 Co n su m er St ap l es In d i an Privat e 521
473 254 ISM T, Pune 2605.6 - 4 7 .9 2 2 8 .9 - 9 1 .2 87.7 - 9 6 .3 638 1 2 9 2 .2 8 .0 472 1569.6 - 2 .1 566 1 6 7 .6 - 0 .9 6 0 .9 - 5 7 .4 7 .1 1 2 .2 2616.5 656 M i n i n g & M e t al s In d i an Seam l ess 462
474 492 So m an y Ceram ics, Delhi/ NCR 2604.4 2 2 .7 2 0 1 .1 - 8 .6 71.5 - 1 9 .4 676 6 7 9 .4 9 .8 688 1368.3 6 .8 618 1 2 .7 0 .0 3 0 2 .6 1 7 .2 2 5 .9 - 2 1 .3 8 .8 1 0 .1 2844.1 633 Ceram ic Pro d uct s So m an i H L 528
475 438 Lin d e In d i a, Kolkata v 2603.9 5 .7 7 0 1 .4 - 2 0 .5 430.4 - 1 5 .1 256 3 1 4 0 .1 1 5 .7 246 3275.1 1 4 .8 329 8 1 .9 - 2 8 .9 5 1 .1 1 .7 6 4 .2 - 6 6 .3 1 4 .7 1 6 .3 50915.0 100 Chem icals Fo r ei g n - Li n d e Gro up 237
476 509 ASKAu t o m o t i ve, Delhi/ NCR 2583.1 2 7 .0 2 4 1 .7 3 6 .5 123.0 4 8 .7 543 6 4 3 .8 1 .9 702 997.3 2 0 .0 720 1 3 9 .4 1 3 .6 4 6 .8 5 4 .3 1 9 .3 1 9 .8 5723.2 478 Au t o An ci l l ar i es In d i an Privat e 239
477 497 Ban co Pro d uct s In d i a, Vadodara 2568.4 2 2 .6 3 7 9 .8 3 7 .1 235.6 5 4 .6 384 1 0 0 1 .0 2 .0 551 1430.0 2 7 .7 597 1 5 7 .3 1 0 .0 2 2 9 .3 1 6 .9 7 5 .3 5 .5 2 3 .8 2 5 .4 3827.2 561 Au t o An ci l l ar i es In d i an Privat e 531
478 338 Him at sin g ka Sei d e, Bengaluru 2558.9 - 2 7 .0 3 4 6 .0 - 3 7 .1 - 64.1 930 1 4 4 9 .0 - 1 .4 434 4520.7 - 3 .3 268 2 8 1 .6 - 1 3 .9 - 1 1 .2 - 5 .7 3 .5 1561.0 767 Text ile & Gar m en t s In d i an Privat e 948
479 478 Di sh m an Carb o g en Am ci s, Ahmedabad 2554.3 1 6 .3 3 1 1 .8 - 1 3 .4 - 29.8 917 5 8 0 9 .7 4 .7 148 8418.7 7 .8 166 1 0 3 5 .3 5 .5 - 2 4 .8 - 0 .2 1 .0 2489.8 671 Ph ar m aceu t i cal s In d i an Privat e 936
480 447 M SPSt eel & Po w er , Kolkata 2540.2 6 .5 7 4 .2 - 5 3 .2 - 50.6 924 5 3 8 .5 - 8 .2 749 1372.6 - 5 .0 617 5 7 .8 1 2 .3 - 6 .6 804.9 867 M i n i n g & M e t al s In d i an Privat e 830
481 472 Jyo t h y Lab s, Mumbai 2535.9 1 4 .3 3 6 2 .4 3 5 .8 239.7 4 8 .0 380 1 5 4 6 .9 4 .2 412 1671.9 - 1 .0 544 1 1 0 .2 2 0 .0 2 6 0 .0 9 .2 5 9 .5 5 7 .4 1 6 .0 1 8 .6 15292.3 248 Co n su m er St ap l es In d i an Privat e 199
482 - DDev Plast iks In d s, Kolkata 2520.9 1 2 .1 1 8 5 .7 4 5 .2 104.1 9 0 .0 593 4 9 4 .3 2 6 .1 762 553.7 5 .6 897 9 .4 3 1 6 .4 3 5 .2 6 .3 3 6 .3 7 4 .3 2 3 .5 3 2 .2 2075.7 716 Chem icals In d i an Privat e 135
*
483 442 Sp encers Ret ai l , Kolkata 2517.8 4 .3 3 6 .2 - 6 4 .1 - 210.4 956 - 1 5 0 .5 - 965 1207.5 5 .3 650 1 9 8 .6 5 .2 - 0 .4 733.3 879 Ret ail Go en ka San j i v 923
484 515 Ban n ar i A m m an Su g ars, Coimbatore 2515.0 2 5 .3 3 4 3 .6 5 5 .2 143.4 7 9 .3 492 1 5 5 1 .9 9 .0 411 2147.1 - 1 0 .3 451 1 5 .7 2 5 .0 1 4 3 .9 2 3 .4 7 6 .8 8 4 .0 9 .6 1 1 .9 3215.1 610 Sug ar Ban n ar i A m m a n 410
485 408 Pfizer, Mumbai 2502.3 - 8 .9 9 4 3 .0 4 .9 623.9 1 .9 194 3 2 0 7 .3 1 2 .0 238 3384.5 9 .6 324 1 8 3 .0 1 4 .3 3 3 1 .7 - 1 7 .8 2 0 0 .1 2 4 .8 2 0 .6 2 5 .9 18410.6 224 Ph ar m aceu t i cal s Fo reig n - Pf i zer 383
486 464 Gillet t e In d i a, Mumbai R R 2489.5 1 0 .9 5 6 1 .4 1 4 .5 355.7 2 2 .9 291 9 8 8 .9 1 4 .8 557 1100.3 1 6 .5 687 2 7 7 .0 2 3 .2 1 6 9 .8 1 3 .1 1 1 7 .2 - 3 .9 3 8 .5 4 7 .0 20437.0 213 Co n su m er St ap l es Fo reig n - P& G 28
*
487 489 H i n d u st h an N at io nal Glass & In d s, Kolkata 2449.8 1 4 .6 - 9 9 .3 * - 233.3 959 - 9 9 7 .6 - 980 1291.3 - 1 5 .9 635 2 1 9 .8 3 .5 0 .4 158.7 980 Packag in g So m an i H L 934
488 522 Pu r avan k ar a, Bengaluru 2443.4 2 5 .2 4 3 2 .3 - 3 2 .0 66.5 - 5 5 .0 692 1 9 8 0 .1 - 2 .7 348 4943.5 4 .9 254 2 3 .7 - 8 0 .0 1 7 1 .4 2 4 .5 - 1 1 .1 2 .9 7 .3 3730.0 569 Realt y In d i an Privat e 961
489 576 Sagar Cem en t s, Hyderabad 2434.8 4 6 .7 3 7 5 .9 3 0 .0 29.0 - 5 8 .0 805 1 5 8 6 .1 3 2 .0 401 3215.9 1 3 .2 338 9 .2 1 1 .2 9 9 .3 1 6 .1 1 0 .0 - 7 7 .8 1 .3 6 .6 3318.3 600 Cem ent & Bl d g M at erials In d i an Privat e 918
491 1 1 5 3 .9 2023.8 471 3 1 8 .0 5 4 .9
490 510 San sera En g i n eer i n g , Bengaluru 2425.0 1 9 .6 3 9 7 .3 1 3 .2 146.2 1 2 .1 1 4 .1 508 1 0 .6 1 3 .2 2 6 .9 1 4 .6 1 8 .1 1 3 .5 1 3 .9 4817.3 511 Au t o An ci l l ar i es In d i an Privat e 569
569
491 514 M ah i n d r a H o l i d ays& Reso rt s, Mumbai 2423.1 2 0 .4 5 8 7 .1 2 0 .8 115.1 7 0 .5 - 5 3 5 .8 972 7739.7 4 .6 181 6 5 5 .9 1 7 .7 5 6 .8 3 2 .4 - 1 9 .2 4 .5 8127.3 394 Hot els & Rest au r an t s M ah i n d r a 914
471
492 403 Nitin Sp i n n er s, Bhilwara 2420.1 - 1 3 .2 3 0 0 .4 - 5 3 .7 164.8 - 4 9 .5 1 0 2 8 .9 1 7 .5 539 2013.7 2 8 .3 473 1 4 .1 0 .0 1 3 3 .2 0 .3 1 1 .1 - 9 3 .9 1 7 .3 1 1 .9 1764.6 751 Text ile & Gar m en t s In d i an Privat e 700
773
493 500 Tr i b h o van d as Bh i m j i Zaveri, Mumbai 2417.0 1 6 .1 1 2 9 .1 4 4 .6 40.2 9 9 .2 5 6 0 .4 6 .2 736 1144.0 1 .9 670 1 1 .7 7 5 .1 7 4 .2 1 0 .7 1 1 .9 1 0 5 .7 7 .4 9 .2 828.1 865 Jew el l er y In d i an Privat e 690
764
494 470 KCP, Chennai 2415.6 8 .8 2 1 2 .9 - 4 8 .5 41.7 - 7 7 .8 9 2 9 .5 - 1 .3 580 1872.9 1 1 .0 496 1 .3 - 9 0 .0 1 1 7 .3 - 6 .2 - 5 .7 7 .5 6 .9 1829.2 744 Cem ent & Bl d g M at erials KCP 843
495 744 Visa St eel, Kolkata 2404.4 1 1 6 .0 1 7 5 8 .3 9 1 1 0 .3 1660.3 76 - 7 7 2 .1 974 625.0 - 4 0 .7 866 3 6 .0 - 1 3 .6 1 0 .4 - 3 .9 198.0 968 M i n i n g & M e t al s In d i an Privat e 897

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fi g u r es i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss t o p r o f i t ; * * Pr o f i t t o l o ss; * Loss i n b o t h y ear s

38 Business Standard
M arch 202 4 39
RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY yutsrponmlkihgedcbaYVTSRPNMLKIHDCBA
TOTAL REVENUES OPERATING PROFIT NETPROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 % CHG FY23 % CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
496 533 Hi- Tech Pip es, Delhi/ NCR 2404.3 2 5 .3 9 9 .0 - 2 .5 37.7 - 6 .6 782 4 1 8 .1 6 1 .7 7 9 4 695.1 6 .3 840 0 .3 - 4 7 .5 2 6 .4 2 0 .1 1 2 .2 - 1 8 . 7 1 2 .6 1 3 .6 1410.2 789 M i n i n g & M et als In d i an Privat e 411
497 552 Lu m ax In d u st r i es, Delhi/ NCR 2402.5 3 5 .0 2 5 8 .9 8 7 .3 103.1 1 5 3 .1 594 5 8 3 .6 1 8 .7 724 1055.3 1 3 .3 700 2 5 .3 1 0 0 .1 2 7 5 .9 1 4 .5 4 6 .1 2 8 0 .7 1 9 .2 1 8 .0 2260.3 696 Aut o An ci l l ar i es In d i an Privat e 473
498 467 St yr en i x Per f o r m an ce M at erials, Vadodara 2396.0 7 .3 2 9 0 .3 - 4 0 .6 183.0 - 4 3 .3 451 7 1 4 .8 1 6 .5 673 778.0 - 1 6 .7 811 1 8 2 .9 - 6 5 .0 7 2 .2 - 2 .9 6 4 .0 - 4 6 . 7 2 3 .3 2 9 .5 2398.7 682 Pet ro chem icals & Plast ics Fo reig n - St yro lut io n 49
499 503 A n d h r a Su g ars, Tanuku 2389.0 1 4 .9 3 3 2 .6 - 1 1 .8 186.0 - 2 3 .2 445 1 4 4 5 .7 1 .5 435 1675.7 - 0 .3 541 2 7 .1 - 5 0 .0 1 8 2 .5 6 .9 6 2 .2 1 4 .6 1 2 .5 1 5 .3 1505.1 774 Diversified In d i an Privat e 217
500 445 Balaji A m i n es, Secunderabad 2386.1 - 0 .2 6 2 4 .4 - 2 .0 325.5 - 1 1 .6 313 1 4 1 0 .3 1 9 .0 446 1615.6 1 9 .2 555 3 2 .4 6 6 .7 8 5 .1 - 1 1 .9 1 6 1 .1 0 .5 2 8 .9 3 9 .0 7039.2 427 Chem icals In d i an Privat e 120
501 545 Ran e(M ad r as), Chennai 2383.5 2 9 .8 1 8 9 .8 4 9 .3 30.0 1 8 1 .6 802 2 4 1 .7 5 .9 888 939.2 1 1 .0 739 2 8 9 .6 1 0 .6 2 8 .4 9 1 .3 9 .0 1 0 .0 1350.1 794 Aut o An ci l l ar i es Ran e 711
502 539 I G Pet r o ch em i cal s, Mumbai 2379.9 2 6 .4 3 3 9 .6 - 1 7 .9 200.0 - 2 4 .4 416 1 2 3 4 .9 1 6 .3 487 1493.3 2 0 .5 580 3 0 .8 0 .0 8 1 .8 8 .8 6 8 .3 - 2 5 .6 1 7 .4 2 1 .4 1450.4 782 Chem icals D h a n u k a SS 305
503 555 Jam n aA u t o In d u st r i es, Delhi/ NCR 2375.2 3 4 .3 2 7 3 .8 1 7 .9 168.4 1 9 .6 464 7 8 4 .3 1 4 .5 635 845.9 - 6 .9 777 7 5 .8 2 6 .7 1 4 5 .1 1 6 .5 6 1 .0 2 0 .9 2 2 .9 2 6 .5 4470.0 527 Aut o An ci l l ar i es Jam n a 56
504 495 Bal m er Law r i e & Co m p an y, Kolkata 2371.9 1 3 .1 2 3 9 .1 1 5 .9 171.9 2 4 .9 460 1 6 4 9 .5 6 .3 389 1875.8 4 .9 495 1 2 8 .3 1 5 .4 2 5 1 .2 1 0 .4 5 7 .5 2 1 .4 6 .5 1 0 .0 2746.5 643 Diversified Go vt of Ind ia 322
505 465 Jo h n so n Co nt ro ls- Hit achi AC, Mehsana 2369.0 5 .6 - 2 2 .4 ** - 82.1 ** 933 6 5 9 .2 1 0 .9 695 940.3 0 .8 738 1 8 3 .6 3 .5 - 2 3 .1 - 9 .5 - 8 .7 3132.3 615 Co nsum er Durab les Fo r ei g n - Hi t ach i 494
506 644 Co nf id ence Pet ro leu m In d i a, Nagpur 2363.6 6 1 .9 2 2 7 .2 1 8 .1 92.8 3 .4 623 7 2 3 .3 1 9 .4 669 1384.6 4 9 .1 611 2 .8 0 .0 6 6 .2 4 0 .2 3 1 .8 1 0 .5 1 1 .9 1 2 .4 2539.4 664 Oil & Gas In d i an Privat e 816
507 615 M et ro Br an d s, Mumbai 2355.3 5 3 .3 7 3 3 .2 5 6 .7 361.5 7 0 .8 289 1 5 2 1 .3 2 2 .5 418 2495.2 2 7 .5 401 1 0 8 .7 7 7 .9 1 8 4 .4 5 2 .1 1 2 5 .7 7 9 .2 2 5 .8 2 4 .8 34384.2 146 Ret ail In d i an Privat e 554
508 501 Jay Bh ar at M ar u t i , Delhi/ NCR 2342.4 1 2 .5 1 7 5 .4 1 6 .0 37.9 3 4 .7 781 5 0 8 .1 7 .1 757 854.9 - 2 .4 774 7 .6 4 0 .1 1 8 4 .0 1 3 .3 2 0 .6 3 8 .2 7 .7 1 1 .0 1623.5 763 Aut o An ci l l ar i es JBM 365
509 486 DCM Sh r i r am In d u st r i es, Delhi/ NCR 2335.2 8 .7 1 6 0 .4 - 3 .2 60.2 - 9 .2 709 7 1 6 .7 6 .7 671 1291.8 3 .2 634 8 .7 - 3 3 .3 1 8 6 .4 1 2 .8 3 0 .8 1 6 .1 8 .7 9 .8 1242.5 811 Sug ar DCM Ban si d h ar 515
510 630 Au t o m o t i ve Axl es, Mysore 2335.0 5 5 .2 2 6 2 .4 8 8 .9 162.0 1 1 7 .9 474 7 5 9 .3 2 2 .3 652 791.3 2 1 .0 804 4 8 .4 1 1 3 .3 1 2 7 .0 1 1 .1 5 6 .1 1 1 8 .3 2 3 .5 3 0 .6 3422.4 589 Aut o An ci l l ar i es Kal yan i 96
511 616 TGVSraac, Kurnool 2334.5 5 2 .3 5 4 5 .7 7 4 .5 361.6 1 6 9 .5 288 1 0 4 6 .6 4 0 .8 532 1375.1 7 .6 615 1 0 .7 6 8 .4 2 2 .2 8 0 .1 7 .0 4 0 .4 3 5 .6 1165.0 822 Chem icals Sree Rayal seem a 356
512 513 Zyd us W el l n ess, Ahmedabad 2328.2 1 5 .3 3 3 2 .0 - 6 .5 310.4 0 .5 323 5 1 2 2 .7 5 .8 161 5434.4 3 .6 233 3 1 .8 0 .0 1 6 7 .3 2 .3 - 1 9 .5 6 .2 5 .8 9907.7 337 Co n su m er St ap l es Cad ila 773
513 521 Em am i Pap er M ills, Kolkata 2325.4 1 8 .5 2 2 4 .1 - 2 7 .7 69.2 - 3 9 .7 685 4 5 5 .2 1 1 .2 781 1588.5 8 .3 561 9 .7 0 .0 8 0 .5 2 .0 2 3 .9 - 3 8 .0 1 6 .0 1 0 .3 790.9 871 Pap er Em am i 944
514 526 Rico Au t o In d u st r i es, Delhi/ NCR 2321.9 1 9 .6 2 3 9 .5 4 0 .3 49.0 1 0 7 .0 744 6 8 6 .9 8 .5 684 1462.8 1 6 .7 586 1 0 .2 8 7 .6 2 9 3 .1 7 .7 2 2 .6 5 8 .8 7 .7 9 .4 1195.8 815 Aut o An ci l l ar i es In d i an Privat e 691
515 507 Siyaram Silk M ills, Mumbai 2310.7 1 2 .8 4 0 8 .7 1 1 .2 251.0 1 6 .1 365 1 1 3 6 .9 2 1 .7 511 1356.0 1 1 .5 621 5 1 .5 1 9 .6 1 7 9 .8 1 2 .2 7 9 .8 7 .3 2 4 .2 2 7 .3 2535.3 665 Text ile & Gar m en t s Po d d ar 224
516 480 D h am p u r Su g ar M ills, Delhi/ NCR 2306.3 5 .4 3 1 8 .8 5 .6 157.5 9 .3 477 1 0 4 2 .1 1 7 .8 534 1802.5 0 .8 513 3 9 .8 0 .0 8 4 .1 7 .5 6 4 .8 1 2 .6 1 6 .4 1 4 .9 1776.4 749 Sug ar In d i an Privat e 545
517 589 AGI Gr een p ac, Delhi/ NCR 2303.9 4 3 .3 5 0 0 .4 3 0 .5 261.6 3 5 .4 358 1 6 0 6 .6 1 5 .4 396 2360.2 - 8 .4 418 3 2 .4 0 .0 1 7 2 .9 2 2 .8 5 5 .4 - 1 1 .5 1 7 .5 1 5 .2 6006.9 469 Ceram icPro d u ct s So m an y Gr o u p 489
577 5 6 5 .9 1768.9 1 6 .6 523 5 3 .8 3 1 0 .6 4 8 .2 2 1 .7 1 4 .7 13524.2 269 H o t el s& Rest au r an t s In d i an Privat e 698
518 591 West lif e Fo o d w o r l d , Mumbai 2298.5 4 3 .3 3 9 4 .4 8 1 .8 111.6 *** 2 2 .5 734 3 7 .9
* * 993 - 7 8 8 .7 - 698.8 1 5 4 .0 3 .0 588 M ed ia & En t er t ai n m en t Jaw ah ar Lal Goel 675
519 400 Dish TV In d i a, Delhi/ NCR 2297.6 - 1 8 .4 - 9 6 1 .0 - 1683.5 - 975 - 1000 - 4 0 4 .6 3427.4
520 558 Sap p h i r e Fo o d s In d i a, Mumbai 2296.7 3 0 .5 4 5 9 .5 3 4 .0 233.4 4 0 2 .3 387 1 2 5 8 .0 2 4 .7 482 2229.4 2 3 .4 439 2 9 2 .9 6 .9 - 1 2 4 .8 1 5 .4 8 .1 8828.1 370 H o t el s& Rest au r an t s In d i an Privat e 742

521 450 Heid elb erg Cem en t In d i a, Delhi/ NCR 2296.0 - 3 .0 2 9 4 .1 - 3 9 .2 99.2 - 6 0 .7 606 1 4 6 1 .4 - 6 .6 432 1667.5 - 7 .7 545 1 5 8 .6 - 2 2 .2 1 3 3 .0 1 .8 3 6 .6 - 5 5 .8 6 .6 1 0 .5 4516.8 524 Cem ent & Bl d g M at erials Fo r ei g n - H ei d el b er g 422

522 608 Ep ig ral, Ahmedabad 2293.4 4 7 .6 6 9 6 .9 3 5 .7 353.3 3 9 .8 292 1 0 6 9 .1 4 7 .3 524 1950.6 1 3 .3 485 2 0 .8 - 6 8 .9 3 2 .4 1 6 9 .2 2 9 .5 3 9 .4 3 2 .0 3868.7 557 Chem icals In d i an Privat e 520

523 531 Int ellect Design A r en a, Chennai 2284.1 1 8 .9 4 9 1 .4 - 5 .1 267.2 - 2 3 .4 350 2 0 4 6 .8 1 4 .0 341 2087.7 1 4 .1 457 3 3 .9 0 .9 1 1 4 4 .4 2 4 .2 9 4 .8 5 1 .0 1 3 .9 1 8 .9 9775.4 343 Tech n o l o g y- So f t w ar e In d i an Privat e 304

524 537 Universal Cab les, Satna 2282.6 1 9 .9 2 7 1 .4 3 5 .3 118.2 5 7 .7 559 1 4 9 6 .6 1 5 .6 424 2162.8 8 .3 447 1 0 .4 1 0 0 .2 8 7 .5 9 .8 3 3 .4 4 1 .1 8 .5 1 2 .0 1760.0 753 Capit al Goods Birla M P 669

525 496 Gl en m ar k Lif eScien ces, Mumbai 2274.6 8 .5 6 7 1 .3 6 .4 467.0 1 1 .5 236 2 1 3 8 .2 4 .1 332 2157.6 4 .9 449 5 1 4 .7 1 0 0 .0 1 8 0 .2 6 .8 1 6 1 .7 1 0 .6 2 2 .3 2 9 .9 7743.9 408 Ph ar m aceu t i cal s Gl en m ar k 333

526 420 Lu x In d u st r i es, Kolkata 2274.1 - 1 4 .3 2 3 3 .2 - 5 2 .4 142.0 - 5 8 .2 498 1 4 6 2 .7 1 1 .1 431 1728.7 3 .7 533 1 5 .7 - 5 8 .3 1 2 0 .8 3 5 .9 5 1 .4 - 5 6 .4 1 0 .0 1 2 .6 4088.4 549 Text ile & Gar m en t s In d i an Privat e 335

527 454 Su d ar sh an Chem ical In d s, Pune 2264.9 - 2 .5 2 1 8 .0 - 2 3 .0 44.8 - 6 5 .6 756 8 2 8 .2 - 0 .6 614 1698.3 0 .1 539 1 0 .4 - 7 0 .0 1 8 4 .0 0 .0 1 5 .0 - 6 3 .6 5 .4 6 .1 3354.3 596 Chem icals In d i an Privat e 565

528 461 IOL Chem icals & Ph ar m a, Ludhiana 2260.9 - 0 .3 2 5 1 .3 - 9 .1 139.1 - 1 7 .0 506 1 5 0 7 .7 8 .3 421 1589.3 1 0 .4 560 2 3 .5 0 .0 1 6 8 .2 1 9 .0 4 9 .5 - 1 3 .4 9 .6 1 3 .5 2629.2 655 Chem icals In d i an Privat e 342

529 493 Pan am a Pet r o ch em , Mumbai 2254.3 7 .0 3 1 5 .6 4 .6 233.0 1 .1 388 9 5 2 .1 2 3 .9 574 954.0 1 9 .3 733 4 8 .4 0 .0 2 4 .3 1 .0 6 1 .6 1 0 .1 2 7 .1 3 4 .9 1929.9 730 Chem icals In d i an Privat e 80

530 474 L G Bal ak r i sh n an & Bro s, Coimbatore 2246.0 1 .6 4 2 7 .5 0 .8 251.9 2 .6 364 1 3 6 3 .0 2 0 .6 459 1484.5 1 8 .6 583 5 0 .2 6 .7 3 1 9 .8 7 .7 8 8 .0 2 .4 2 0 .2 2 5 .4 3581.5 578 Aut o An ci l l ar i es Elgi 201

531 575 Act io n Co nst ruct io n Eq u i p m en t , Delhi/ NCR 2245.2 3 5 .1 2 6 2 .0 6 1 .5 171.6 6 3 .4 462 9 1 6 .9 2 1 .6 583 928.7 1 7 .9 743 1 1 .9 6 6 .6 9 9 .8 1 7 .6 6 0 .8 8 8 .1 2 0 .7 2 8 .4 9486.2 352 Capit al Goods In d i an Privat e 57
532 565 KIM S, Secunderabad 2243.8 3 2 .5 6 5 1 .5 1 8 .1 336.3 1 .1 302 1 4 0 1 .1 2 .7 448 2371.8 4 2 .8 415 3 4 6 .4 3 2 .3 1 1 9 .1 5 .3 2 3 .9 2 5 .9 15378.1 247 Healt hcare In d i an Privat e 623
533 563 Kal yan Jew el l er s In d i a, Thrissur 2237.1 2 9 .3 1 1 6 9 .6 3 1 .3 433.1 9 3 .2 255 3 6 3 4 .9 1 5 .9 221 7967.9 1 0 .7 178 5 1 .5 4 4 0 .6 2 4 .4 1 3 9 .6 8 6 .6 1 2 .8 1 2 .2 31940.7 156 Jew el l er y In d i an Privat e 839
534 511 Techno craf t In d u st r i es, Mumbai 2232.5 1 0 .4 4 5 7 .5 3 .0 267.1 - 0 .1 351 1 3 8 9 .3 5 .3 452 2101.0 1 2 .1 456 2 0 9 .1 1 1 .7 8 7 .2 2 .0 2 0 .2 1 9 .8 5142.5 499 M i n i n g & M et als In d i an Privat e 555
535 479 Sp o r t ki n g In d i a, ludhiana 2231.5 1 .8 2 6 3 .9 - 5 7 .7 132.0 - 6 7 .8 521 8 2 2 .4 1 9 .2 618 1386.2 5 .3 610 1 1 6 .5 1 1 .1 5 7 .5 - 5 8 .4 2 0 .2 1 8 .2 1007.7 835 Text ile & Gar m en t s In d i an Privat e 458
536 San d u r M an g an ese& Ir o n Ores, Bengalooru 2204.8 4 5 1 .6 270.8 348 1 9 3 3 .7 - 352 2158.2 448 1 3 .5 1 2 8 .1 8 8 .5 1 4 .0 1 8 .0 4826.3 509 M i n i n g & M et als In d i an Privat e 412
- - - -
619 8 2 5 .4 730 4 5 .9 3 0 .1 1 2 .0 1 4 .5 830.2 864 MAC 241
537 546 Tam il N ad u Pet ro Pro d u ct s, Chennai 2197.3 2 0 .6 1 5 2 .4 - 4 2 .7 94.2 - 4 6 .3 1 0 .3 615 956.7 1 2 .0 1 3 .5 - 5 0 .0 1 1 .8 - 5 0 .8 Co n su m er St ap l es
663 3 9 5 .9 722 1 2 2 .9 2 0 .1 2 1 .9 1 7 .1 479 662
538 731 PG Elect ro p last , Delhi/ NCR 2192.6 9 1 .3 1 8 0 .4 9 1 .4 77.5 1 0 9 .8 2 6 .8 808 986.8 3 7 .6 5 7 .8 7 2 .6 5621.0 Co nsum er Durab les In d i an Privat e
539 477 M an In d u st ries, Indore 2187.6 - 0 .7 1 7 6 .8 - 1 8 .8 68.0 - 3 3 .1 687 1 0 0 4 .2 6 .6 550 1309.1 3 0 .3 632 1 2 .0 5 9 .9 1 0 .8 2 2 .4 - 3 3 .0 6 .1 1 0 .4 1450.3 783 M i n i n g & M et als In d i an Privat e 686
540 530 D h am p u r Bio Org anics, Mumbai 2184.0 1 3 .4 2 1 6 .1 1 3 .5 111.1 8 .6 579 9 8 8 .7 1 2 .5 558 1820.5 5 .1 509 2 3 .2 1 0 8 .0 4 6 .7 2 3 .7 - 1 2 .6 1 1 .9 9 .9 1051.5 831 Sug ar In d i an Privat e 618
541 653 Ar vi n d Fash i o n s, Ahmedabad 2181.9 5 4 .4 5 2 0 .7 3 1 6 .5 36.7 *** 786 7 2 7 .1 1 1 .8 667 2312.3 1 7 .9 427 1 3 .3 2 6 8 .2 1 3 .3 4 0 .1 6 .1 1 0 .3 5049.7 504 Ret ail Lal b h ai S N 889
542 397 Sad b h av En g i n eer i n g , Ahmedabad 2176.5 - 2 3 .0 7 8 .7 - 8 0 .7 - 589.1 * 980 1 5 .0 9 7 .2 956 7483.3 - 1 1 .6 185 6 5 .9 - 4 1 .8 - 1 4 .0 337.1 942 Co nst ruct io n & Inf rast ruct ure Sad b h av Gr o u p 972
543 469 Ren ai ssan ce Gl o b al , Mumbai 2172.9 - 2 .4 1 7 7 .4 - 1 4 .1 87.1 - 1 7 .7 640 1 0 2 5 .5 1 1 .0 543 1638.2 0 .4 549 1 1 3 .7 1 2 .9 7 .0 - 7 6 .8 9 .0 8 .9 1023.3 833 Jew el l er y In d i an Privat e 590

544 559 NACL In d u st r i es, Hyderabad 2167.4 2 4 .0 2 0 3 .9 3 4 .6 94.9 2 9 .2 617 5 7 3 .9 1 7 .5 730 1311.2 2 7 .3 630 1 3 .9 2 7 .6 1 2 1 .8 2 1 .7 3 3 .5 2 6 .9 1 7 .9 1 5 .0 1500.6 775 Agro Chem icals In d i an Privat e 881

545 549 D B Corp, Bhopal 2167.4 2 1 .1 3 6 1 .2 1 1 .9 169.1 1 8 .6 463 1 9 4 7 .9 3 .5 350 2254.7 4 .0 434 1 0 6 .8 2 0 .6 3 8 7 .4 3 .3 5 8 .8 1 2 .8 1 1 .3 5004.3 507 M ed ia & En t er t ai n m en t In d i an Privat e 380

546 570 Vinat i Org anics, Mumbai 2162.2 2 8 .9 6 6 8 .9 3 4 .8 458.0 3 2 .1 243 2 2 1 8 .3 2 1 .3 324 2225.3 2 0 .2 440 7 2 .0 7 .7 9 3 .2 1 1 .0 1 5 7 .3 5 3 .3 2 2 .6 3 0 .3 18022.9 228 Ph ar m aceu t i cal s In d i an Privat e 109

547 642 V I P In d u st r i es, Mumbai 2152.5 4 7 .3 3 0 1 .6 6 5 .3 152.3 1 2 7 .6 484 6 4 1 .7 1 4 .7 705 1011.1 1 5 .7 714 6 3 .7 8 0 .3 2 3 5 .6 2 4 .9 4 4 .2 1 2 9 .8 2 9 .0 2 7 .4 8843.0 368 Co nsum er Durab les Pi r am al Dilip 313

548 508 Th i r u m al ai Ch em icals, Mumbai 2149.8 5 .4 2 1 6 .3 - 5 2 .2 89.8 - 6 8 .1 634 1 1 9 1 .9 9 .9 500 1717.3 3 6 .2 536 1 5 .4 - 4 0 .0 7 8 .7 6 .2 3 9 .6 - 5 8 .0 7 .9 1 0 .8 2086.9 715 Chem icals N S Iyeng ar 624
549 431 Ji n d al W o r l d w i d e, Ahmedabad 2149.1 - 1 5 .1 2 3 9 .8 8 .2 115.7 6 .0 568 6 5 0 .0 2 1 .3 698 1487.4 3 1 .1 581 4 .0 9 9 .5 4 9 .9 2 2 7 .4 3 8 .3 4 .6 1 9 .5 1 5 .7 6802.9 437 Text ile & Gar m en t s In d i an Privat e 524
550 749 EIH, Kolkata 2148.8 9 5 .5 6 1 5 .6 8 3 4 .5 314.6 *** 320 3 2 7 7 .2 1 1 .9 236 3675.2 3 .2 310 4 3 1 .2 1 5 .4 1 2 4 .7 7 0 6 9 .0 1 1 .9 1 5 .8 14646.4 259 H o t el s& Rest au r an t s Oberoi 502

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551 656 A n d h r a Pap er, Hyderabad 2147.9 5 2 .7 7 7 1 .4 1 9 0 .2 522.5 2 7 3 .9 214 1 5 8 2 .2 4 4 .6 402 1639.1 4 1 .7 548 4 9 .7 6 6 .6 1 6 4 .8 4 .9 1 7 8 .5 2 6 7 .2 3 9 .0 5 0 .7 2303.3 694 Pap er Ba n g u r SK 222
552 632 N avin Fl u o r i n e In t er n at i o n al , Mumbai 2142.5 4 2 .6 5 8 6 .0 4 8 .7 375.2 4 2 .6 282 2 1 8 5 .0 1 8 .5 330 3074.3 5 4 .3 351 5 9 .5 9 .1 2 4 9 .4 3 7 .4 1 2 0 .7 4 8 .7 1 8 .6 2 0 .7 18278.7 225 Chem icals Pad m an ab h M af at 621
553 597 Gl o b u sSp i r i t s, Delhi/ NCR 2134.8 3 4 .9 2 5 3 .4 - 2 4 .4 122.2 - 3 4 .7 550 8 8 6 .6 1 4 .8 594 1184.3 2 3 .6 655 1 7 .3 1 0 0 .0 6 5 .1 3 0 .1 5 7 .9 - 3 8 .4 1 4 .7 1 8 .4 2430.9 678 D i st i l l er ssW i n er i es In d i an Privat e 391
554 527 Go kal d as Exp o r t s, Bengaluru 2129.7 1 0 .3 3 0 1 .9 3 9 .6 173.0 4 7 .7 458 8 8 6 .3 2 5 .1 595 1054.1 1 6 .1 702 6 .1 6 1 9 .3 1 4 .9 3 1 .4 1 9 .6 2 1 .2 5275.5 496 Te x t i l e s Gar m en t s In d i an Privat e 309
555 760 Syr m aSGSTech n o l o g y, Chennai 2127.4 1 0 2 .3 2 3 5 .7 1 1 6 .4 119.3 1 1 4 .8 556 1 5 3 7 .7 1 7 4 .0 415 1927.9 1 4 0 .8 489 2 6 .5 9 8 .4 7 9 .7 5 5 .6 1 0 7 .8 1 1 .7 1 5 .0 10665.6 323 Capit al Go o d s In d i an Privat e 774
556 719 M M TC, Delhi/ NCR 2127.1 7 9 .4 1 8 9 3 .3 4 7 1 .8 1562.3 *** 81 1 4 1 1 .8 - 444 1657.3 - 3 4 .1 546 1 0 9 .2 - 8 .5 2 0 3 .8 - 4 3 .3 4 9 .2 2 2 .6 8657.8 374 Tr ad i n g Go vt o f Ind ia 231
557 237 St erling& Wilson Renewab le Energy, Mumbai 2125.9 - 5 9 .8 - 1 0 1 2 .7 * - 1169.6 * 989 - 2 0 9 .9 - 966 1823.8 3 1 .4 505 2 4 7 .9 8 .8 - 3 .8 7873.7 404 Capit al Go o d s M u k e sh A m b an i 942
558 535 Ut t am Sug ar M ills, Delhi/ NCR 2120.6 1 0 .8 2 5 3 .6 - 1 1 .1 123.6 - 8 .4 540 5 7 6 .4 2 4 .6 727 1212.7 5 .3 649 1 0 .0 3 1 .2 9 9 .6 1 5 .2 4 1 .3 - 2 .1 2 3 .7 1 8 .4 1670.0 760 Sug ar In d i an Privat e 661
559 577 Raj esh Exp o r t s, Bengaluru 2113.8 2 7 .5 1 6 6 0 .0 3 6 .2 1432.3 4 1 .9 91 1 4 7 2 3 .6 1 8 .3 62 15456.2 1 6 .5 93 2 9 .5 0 .0 2 1 5 .1 2 2 .3 4 6 .2 5 8 .4 1 0 .5 1 0 .9 11980.6 298 Jew el l er y In d i an Privat e 488
560 529 M u n j al Aut o In d u st r i es, Delhi/ NCR 2112.7 9 .7 1 5 0 .3 7 0 .5 56.1 1 0 9 .6 720 3 7 4 .3 1 5 .9 823 706.7 4 6 .7 833 2 0 .0 1 0 0 .0 1 6 8 .7 5 5 .1 1 8 .6 6 8 .4 6 .0 8 .4 674.9 888 Au t o An ci l l ar i es M u n j al (Hero ) 582
561 633 Up d at er Ser vi ces, Chennai 2111.1 4 0 .8 1 0 5 .8 1 4 .3 35.8 - 3 5 .3 791 3 7 4 .0 1 1 .6 825 768.6 4 2 .1 818 1 3 8 4 .1 2 9 .6 1 9 .6 4 4 .3 1 2 .4 1 3 .2 1899.2 733 M i scel l an eo u s In d i an Privat e 437
562 695 Sesh asayee Pa p e r s Bo ar d s, Chennai 2108.9 7 0 .1 5 7 4 .0 2 0 3 .3 395.8 2 5 9 .8 270 1 6 3 5 .4 3 0 .3 393 1673.9 2 9 .4 542 3 6 .1 1 4 0 .0 9 7 .9 1 5 .7 1 2 9 .7 2 6 5 .2 2 7 .4 3 5 .6 2209.1 699 Pap er Esvin 159
563 628 Rest au r an t Br an d s Asi a, Mumbai 2090.2 3 8 .2 1 4 7 .4 5 7 .2 - 221.2 * 957 8 0 4 .7 2 0 .5 624 2046.4 3 .8 468 3 6 6 .9 3 7 .5 5758.3 476 Hot els S Rest au r an t s In d i an Privat e 920
564 - Cent ury En k a, Mumbai 2086.2 - 1 6 1 .3 - 90.3 - 629 1 3 2 1 .7 - 464 1415.0 603 2 1 .9 1 1 9 .9 2 7 .4 6 .8 8 .5 937.9 847 Te x t i l e s Gar m en t s Bi r l aBK 236
565 617 CCL Pro d uct s In d i a, Hyderabad 2085.4 3 6 .4 4 0 3 .1 2 0 .3 268.9 3 1 .6 349 1 4 8 2 .2 1 8 .5 428 2404.4 2 6 .1 411 7 3 .2 1 0 .0 9 7 .3 1 8 .3 3 6 .1 - 3 6 .6 1 9 .7 1 5 .7 8486.4 379 Co n su m er St ap l es In d i an Privat e 592
566 710 Jup it er W ag o n s, Kolkata 2079.0 7 3 .0 2 5 4 .4 1 1 7 .0 120.8 1 4 3 .1 553 8 0 3 .3 1 7 .7 626 1095.9 3 2 .8 690 1 9 .4 4 2 .0 2 4 .0 7 9 .8 2 0 7 .1 1 6 .2 2 3 .9 13145.9 275 Capit al Go o d s In d i an Privat e 445
567 556 Skip p er , Kolkata 2076.9 1 7 .6 2 0 1 .6 1 9 .4 35.6 4 1 .4 793 7 6 7 .4 4 .8 647 1366.5 3 .7 619 1 .0 0 .0 9 7 .5 1 1 .4 1 4 .4 7 3 0 .6 4 .7 1 1 .5 2354.5 688 Capit al Go o d s In d i an Privat e 553
568 688 Aart i Ph ar m al ab s, Mumbai 2073.0 6 5 .6 3 4 4 .4 6 4 .4 193.5 5 8 .3 428 1 5 5 8 .5 1 2 .4 408 1775.1 2 .7 521 1 8 .1 1 2 9 .7 5 2 .2 6 7 .3 1 0 3 .1 1 3 .1 1 6 .1 3899.0 555 Ph ar m aceu t i cal s In d i an Privat e 406
569 587 A g ar w al In d u st rial Corp, Mumbai 2067.0 2 8 .0 1 4 4 .7 3 2 .0 92.3 4 4 .9 625 4 0 3 .7 3 7 .1 800 562.5 2 0 .7 895 3 .7 4 1 .7 5 .7 1 6 .0 1 7 .5 2 6 .5 2 6 .4 2 3 .7 1372.8 791 Pet r o ch em i cal sS Plast ics In d i an Privat e 266
570 755 M ad h u co n Pro ject s, Hyderabad 2063.8 9 3 .6 6 4 8 .9 9 1 6 .3 - 143.7 * 948 - 1 4 8 1 .8 - 985 2366.9 - 8 .2 416 3 0 .0 2 .6 - 2 0 .0 51.0 996 Co nst ruct io n S Inf rast ruct ure In d i an Privat e 994
571 505 NCL In d u st r i es, Hyderabad 2063.4 0 .3 1 6 7 .3 - 2 3 .2 44.3 - 5 3 .1 757 7 6 9 .9 3 .9 645 1158.2 0 .4 667 1 3 .6 0 .0 6 0 .2 5 .9 4 7 .0 - 9 .2 5 .9 1 0 .2 992.0 838 Ce m e n t s Bl d g M at erials NCL 507
572 487 Dr Lal Pat h l ab s, Delhi/ NCR 2058.6 - 3 .8 5 3 1 .6 - 1 3 .3 238.9 - 3 0 .7 381 1 6 3 3 .1 1 1 .4 394 2085.8 2 .5 459 5 0 .0 - 5 0 .0 3 7 6 .5 3 .2 1 0 2 .8 - 1 7 .6 1 5 .2 1 8 .5 21454.3 206 Healt h care In d i an Privat e 353
573 590 JTEKTIn d i a, Delhi/ NCR 2057.8 2 8 .1 1 9 2 .1 4 6 .9 81.4 1 2 0 .5 651 6 7 1 .8 1 1 .5 693 774.2 8 .5 815 1 2 .2 2 5 .1 2 1 6 .2 6 .2 2 7 .1 7 9 .7 1 3 .1 1 6 .0 3527.9 583 Au t o An ci l l ar i es Foreign - JTEKT 164
574 560 Gr een l am In d u st r i es, Delhi/ NCR 2047.1 1 7 .5 2 5 0 .8 3 0 .8 128.4 4 1 .5 529 9 6 8 .3 4 8 .1 567 1607.7 5 1 .3 556 1 9 .1 3 1 .6 3 1 3 .9 2 1 .0 3 6 .1 2 6 .3 1 5 .8 1 4 .1 6566.7 449 Pl y w o o d Bo ard s / Lam i n at es In d i an Privat e 541
575 - Eu reka Fo rb es, Mumbai 2044.5 4 4 2 .3 1 1 5 .2 4 5 7 .7 26.6 9 2 1 .5 814 4 0 9 6 .5 0 .5 201 4362.0 - 2 .4 274 3 0 3 .1 5 1 7 .1 1 2 .0 1 7 1 .2 1 .0 2 .1 10008.3 336 Co n su m er Du r ab l es Sh ap o o r j i Pallo n 766
576 638 Ash ap u r a M i n ech em , Mumbai 2043.2 3 7 .3 2 7 9 .9 3 0 .9 117.0 3 5 .2 562 6 7 2 .2 2 8 .9 692 1731.8 2 3 .5 531 1 0 3 .1 7 .8 2 9 .7 1 6 4 .0 1 8 .5 1 3 .2 3235.3 607 M i n i n g S M et als In d i an Privat e 845
577 519 H i k al , Mumbai 2043.0 3 .0 2 6 2 .5 - 2 4 .0 78.4 - 5 1 .2 659 1 1 3 3 .5 6 .1 512 1949.5 8 .6 486 1 4 .8 - 2 5 .0 2 2 2 .4 9 .4 2 7 .0 - 5 3 .5 7 .1 8 .2 3498.7 586 Chem icals Kal yan i 575
578 473 N an d an D en i m , Ahmedabad 2039.5 - 7 .9 9 6 .0 - 4 6 .3 0.8 9 8 .8 889 5 4 0 .4 0 .3 747 1010.7 - 8 .4 715 7 4 .1 - 8 .0 4 .6 - 8 1 .1 0 .1 5 .5 369.8 936 Te x t i l e s Gar m en t s In d i an Privat e 635
579 581 Ion Exch an g e(I n d i a), Mumbai 2038.3 2 4 .1 2 9 9 .8 1 6 .2 196.7 2 0 .9 422 8 3 1 .2 2 6 .6 611 925.9 2 5 .2 744 1 8 .3 2 5 .0 2 3 6 .3 1 8 .7 6 3 .7 1 4 .6 2 6 .2 3 2 .5 8319.7 388 Capit al Go o d s In d i an Privat e 186
580 528 Bo m b ay Dyeing S M fg Co, Mumbai 2034.6 5 .4 6 7 .6 1 9 9 .9 - 516.7 * 978 - 1 2 1 9 .5 - 984 2407.2 - 3 5 .5 410 6 9 .0 1 0 .1 2 8 .1 3196.1 611 Diversified W ad i a Nusli N 929
581 677 In f i b eam A v en u es, Gandhinagar 2033.1 5 5 .0 2 4 6 .0 5 0 .6 139.6 6 1 .3 503 3 1 6 4 .5 6 .9 242 3194.6 6 .7 343 1 3 .4 0 .1 1 0 7 .8 3 1 .9 4 6 .0 2 1 2 .6 4 .5 6 .0 5759.5 475 Tech n o l o g y- So f t w ar e In d i an Privat e 681
582 836 H i n d w ar e H o m e In n o vat i o n , Delhi/ NCR 2025.2 1 3 5 .7 2 8 1 .1 - 7 .8 57.1 - 7 1 .7 719 5 6 8 .5 8 .0 732 1601.0 6 7 .6 559 3 .6 0 .0 4 0 2 .3 7 4 .2 3 6 .5 - 1 2 .5 1 2 .1 1 4 .1 3690.6 573 Tr ad i n g So m an y Gr o u p 746
583 584 Railt el Co rp o rat io n o f In d i a, Delhi/ NCR 2002.2 2 3 .0 4 1 6 .0 - 7 .0 189.1 - 9 .5 440 1 6 4 8 .9 8 .0 390 1832.2 9 .1 503 8 1 .8 6 .2 2 0 9 .7 7 .9 6 5 .7 - 8 .3 1 1 .9 1 4 .9 8307.1 389 Tel eco m m u n i cat i o n s Go vt o f Ind ia 280
584 568 Jag ran Pr ak ash an , Kanpur 2000.8 1 8 .5 3 9 8 .5 - 7 .8 199.8 - 1 0 .2 418 1 5 6 4 .1 1 8 .7 405 2209.7 - 1 1 .9 443 8 7 .1 3 8 8 .5 5 .0 5 6 .4 - 1 3 .7 7 .1 8 .9 2162.0 710 M ed ia s En t er t ai n m en t In d i an Privat e 606
585 523 H at h w ay Cable SD a t a c o m , Mumbai 1998.9 2 .4 4 4 7 .9 - 1 4 .6 65.3 - 4 9 .8 697 4 1 8 1 .4 1 .4 198 4210.4 1 .5 281 1 0 3 .8 1 .0 2 5 .1 - 2 .8 1 .3 1 .8 3528.2 582 M ed ia s En t er t ai n m en t M u kesh A m b an i 678
586 583 Bi kaj i Foods In t er n at i o n al , Bikaner 1985.1 2 1 .8 2 2 8 .9 5 2 .0 128.5 6 4 .9 528 9 5 5 .0 1 6 .3 573 1124.5 1 4 .5 677 1 8 .7 6 5 1 .4 1 0 3 .0 1 4 .4 4 4 .0 5 2 .0 1 4 .3 1 7 .3 12909.9 278 Co n su m er St ap l es In d i an Privat e 278
587 557 PSP Pro ject s, Ahmedabad 1984.1 1 2 .3 2 5 5 .1 - 9 .0 131.9 - 2 0 .8 522 8 0 1 .0 1 6 .6 628 948.1 2 0 .3 735 9 .0 - 5 0 .0 7 3 .1 3 1 .6 4 8 .5 - 1 2 .4 1 8 .1 2 4 .8 2761.9 640 Co nst ruct io n s Inf rast ruct ure In d i an Privat e 417
588 611 Prico l, Coimbatore 1983.5 2 8 .4 2 4 2 .8 2 8 .2 124.7 1 4 4 .1 533 7 0 4 .3 2 2 .2 677 831.6 1 1 .3 782 2 2 7 .5 1 8 .6 2 1 .9 - 2 4 .9 1 3 .6 1 5 .5 4217.2 542 Au t o An ci l l ar i es In d i an Privat e 439
589 550 Kal yan i St eels, Pune 1958.3 9 .9 3 0 2 .1 - 2 1 .5 167.0 - 3 1 .2 466 1 4 8 9 .5 8 .9 426 2004.7 1 0 .3 476 4 3 .7 0 .0 6 5 .0 9 .1 5 8 .0 - 3 0 .0 1 1 .7 1 3 .3 2071.9 717 M i n i n g s M et als Kal yan i 793
*
590 499 Si m p l ex In f rast ru ct u res, Kolkata 1956.6 - 6 .1 1 0 0 .2 7 2 .5 - 470.9 975 2 9 9 .4 6 0 .0 863 6367.2 3 .3 206 1 4 5 .0 - 2 0 .2 - 3 5 3 .6 410.3 926 Co nst ruct io n s Inf rast ruct ure Si m p l ex Gro up 998
591 592 KSB, Pune+ 1947.0 2 1 .6 2 9 6 .7 1 8 .9 182.7 2 2 .3 452 1 1 4 3 .1 1 3 .1 510 1189.3 1 1 .6 654 5 2 .2 2 0 .0 2 4 3 .9 1 3 .2 6 2 .5 2 1 .1 1 7 .0 2 2 .3 11171.7 313 Capit al Go o d s Fo reig n - KSB 158
592 800 SM LISUZU, Chandigarh 1933.8 1 0 3 .3 8 4 .8 *** 19.8 836 1 7 8 .0 1 0 .2 915 495.5 - 2 .0 913 1 7 2 .5 2 9 .9 - 2 .6 1 1 .3 8 .4 1944.8 727 Au t o m o b i l e Foreign - Isu zu 557
593 635 Insect icid es In d i a, Delhi/ NCR 1928.8 2 8 .7 1 2 3 .4 - 2 9 .2 63.2 - 4 1 .2 700 9 1 8 .3 5 .6 582 1082.8 1 7 .0 692 8 .9 5 0 .0 9 8 .4 1 3 .5 2 0 .6 - 3 9 .2 7 .1 9 .7 1692.0 757 Agro Chem icals In d i an Privat e 542
594 598 CMS Info Syst em s, Mumbai 1926.5 2 1 .9 5 5 2 .5 3 5 .5 297.2 3 2 .7 333 1 5 6 2 .5 2 4 .4 406 1737.0 2 2 .0 528 7 3 .3 8 9 .3 2 6 4 .9 1 4 .4 1 0 3 .8 3 4 .1 2 1 .1 2 6 .6 6164.4 462 Tech n o l o g y- So f t w ar e In d i an Privat e 234
595 624 M ar ksan s Ph ar m a, Mumbai 1917.8 2 6 .2 3 9 8 .6 3 2 .6 266.3 4 4 .3 353 1 7 2 5 .3 4 6 .0 381 1871.4 4 2 .3 498 2 2 .7 1 2 1 .5 2 3 9 .4 8 .7 7 2 .3 1 9 .2 1 8 .0 2 1 .8 6066.9 466 Ph ar m aceu t i cal s In d i an Privat e 373
596 540 Dw ar i k esh Sug ar In d u st ries, Mumbai 1917.3 2 .0 2 2 8 .6 - 2 2 .2 104.8 - 3 2 .5 589 7 3 9 .8 9 .9 664 1139.2 - 6 .7 671 3 7 .7 0 .0 1 1 8 .0 2 2 .6 4 7 .7 - 2 4 .9 1 4 .8 1 5 .1 1730.6 754 Sug ar In d i an Privat e 440
597 593 Gr een p l y In d u st r i es, Kolkata 1911.4 1 9 .7 1 7 3 .3 6 .5 91.4 - 3 .5 627 6 4 3 .8 1 9 .6 701 1347.2 5 7 .9 624 6 .1 0 .2 2 4 3 .1 2 5 .8 1 9 .2 - 3 6 .6 1 5 .5 1 2 .4 2341.3 690 Pl y w o o d Bo ard s / Lam i n at es In d i an Privat e 736
598 602 Cera Sa n i t ar y w ar e, Ahmedabad 1907.9 2 1 .3 3 2 3 .5 3 1 .2 209.4 3 8 .6 406 1 1 6 2 .0 1 6 .1 507 1263.6 1 5 .2 640 6 5 .0 4 2 .9 2 1 4 .7 1 0 .9 7 3 .8 3 1 .8 1 9 .3 2 4 .7 10999.7 319 Cer am icPr o d u ct s In d i an Privat e 174
599 406 GE Po w er In d i a, Mumbai 1904.4 - 3 0 .8 - 2 3 2 .1 * - 440.6 * 972 2 3 2 .5 6 5 .6 892 720.9 - 3 7 .9 830 4 1 8 .8 2 .1 1 0 9 .3 1332.3 799 Capit al Go o d s Foreign - Al st o m 659
600 814 Sat ia In d u st r i es, Delhi/ NCR 1903.2 1 0 7 .7 4 2 5 .8 1 0 2 .3 192.2 9 0 .9 431 7 3 3 .2 3 4 .5 666 1239.8 1 2 .8 646 2 .0 0 .0 9 1 .6 5 3 .2 - 8 .7 3 0 .1 1 8 .7 1276.9 806 Pap er In d i an Privat e 491
601 516 BCL In d u st r i es, Bhatinda 1902.7 - 4 .8 1 3 0 .3 - 1 0 .6 66.3 - 2 1 .9 693 4 7 0 .2 3 2 .7 775 924.4 4 6 .2 745 1 2 .1 0 .0 2 9 .6 5 6 .4 2 1 .1 - 2 6 .0 1 5 .2 1 3 .5 1540.9 770 Food Pro cessin g In d i an Privat e 692
602 596 Ti d eW at er Oil Co (I), Kolkata 1877.9 1 8 .4 1 6 4 .1 - 7 .4 114.5 - 6 .9 571 7 6 3 .6 6 .1 648 818.7 4 .3 788 7 1 .4 - 2 3 .6 1 2 1 .6 8 .9 3 2 .6 - 1 2 .4 1 5 .4 1 8 .5 2195.8 702 O i l s Lub ricant s Go vt o f Ind ia 81
603 599 Bh ag yan ag ar In d i a, Secunderabad 1877.9 1 9 .1 3 5 .6 1 5 .0 10.1 - 8 .6 865 1 4 7 .6 7 .4 921 367.7 1 6 .1 940 1 2 .3 2 4 .9 4 .4 8 5 .9 7 .1 8 .7 232.4 965 Capit al Go o d s Su r an a 817
604 714 M an In f r aco n st r u ct io n , Mumbai 1875.4 5 6 .9 4 6 6 .7 3 .7 258.6 1 9 .5 360 1 0 3 3 .6 3 0 .9 538 1310.8 - 8 .2 631 3 3 .4 - 2 8 .6 7 1 .2 2 3 .2 1 0 8 .1 3 4 .5 2 9 .7 3 3 .3 6361.4 455 Co nst ruct io n s Inf rast ruct ure In d i an Privat e 326
605 666 Best Ag ro lif e, Delhi/ NCR 1873.0 3 6 .8 3 1 6 .3 8 8 .7 192.2 8 3 .4 432 5 1 4 .6 5 7 .2 755 1097.1 8 1 .7 688 7 .1 4 9 .9 4 9 .0 1 0 9 .1 6 0 .8 6 9 .3 4 5 .7 3 4 .6 2257.9 697 Agro Chem icals In d i an Privat e 832

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s

42 Business Standard
M arch 2 4 4 43
RANKED BY TOTAL REVENUES EH1000
RANK COMPANY, CITY yutsrponmlkihgedcbaYVTSRPNMLKIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
2023 2022 FY23 %CHG FY23 %CHG FY23 %CHG RANK FY23 %CHG RANK FY23 % CHG RANK FY23 %CHG FY23 % CHG FY23 % CHG % % ~ CR RANK RANK

606 6 1 9 Lu m ax Aut o Tech n o lo g ies, Pune 1871.0 2 2 .6 2 1 5 .8 3 3 .2 92.9 3 3 .8 622 4 7 4 .6 - 1 .8 773 1337.0 8 6 .8 625 3 0 .7 2 8 .6 1 9 8 .5 2 2 .0 3 5 .3 1 3 .9 1 8 .5 1 5 .9 2547.1 662 Aut o An cillaries In d i an Privat e 688
607 6 2 0 Sch n ei d er Elect ric In f ra, Delhi/ NCR 1867.8 2 2 .5 1 9 5 .2 1 0 9 .0 123.6 3 4 7 .6 541 6 6 .6 - 947 658.2 1 6 .5 855 - - 2 3 5 .9 1 2 .1 - - 3 9 .4 1 8 .4 8464.6 380 Capit al Go o d s Fo r ei g n - Sch n ei d er 625
608 6 9 9 N avn eet Ed u cat i o n , Mumbai 1862.7 5 1 .3 3 6 9 .4 9 2 .4 204.5 1 7 0 .7 412 1 1 4 9 .9 2 1 .6 509 1442.0 3 3 .0 592 5 8 .8 7 3 .3 2 3 2 .2 2 6 .2 9 4 .2 5 5 .3 1 5 .1 1 9 .4 3375.5 593 M ed ia & En t er t ai n m en t In d i an Privat e 602
609 569 H TM e d i a , Delhi/ NCR 1862.4 1 1 .0 1 3 .0 - 9 3 .6 - 227.3 ** 958 1 4 4 4 .6 - 1 4 .3 436 2677.5 - 1 0 .0 380 - - 3 9 5 .1 6 .4 5 8 .4 - - 1 3 .1 - 4 .2 588.9 899 M ed ia & En t er t ai n m en t Birla KK 978
610 803 Essar Sh i p p i n g , Mumbai 1859.0 9 7 .7 1 7 9 6 .5 3 7 0 .7 1650.2 *** 77 - 2 8 6 0 .5 - 991 - 38.2 - 999 - - 4 .0 - 8 9 .9 - 2 6 .5 - 1 .2 3 .8 431.1 923 Sh i p p i n g Essar 748
611 6 0 1 Fiem In d u st r i es, Delhi/ NCR 1855.0 1 7 .9 2 5 9 .4 3 2 .0 139.8 4 8 .5 501 7 6 1 .2 1 8 .5 649 798.2 1 5 .2 798 3 9 .5 5 0 .0 2 4 1 .1 1 6 .1 4 8 .7 4 4 .8 1 9 .9 2 6 .3 2513.1 668 Aut o An cillaries In d i an Privat e 167
612 5 7 1 FDC, Mumbai 1848.8 1 0 .7 3 0 0 .8 - 8 .8 194.0 - 1 0 .3 425 1 9 8 2 .7 1 .3 347 2028.5 2 .0 470 - - 3 9 0 .9 1 3 .9 6 4 .0 - 1 2 .6 9 .8 1 3 .0 6275.9 458 Ph ar m aceu t i cal s In d i an Privat e 262
613 7 0 4 W PIL, Kolkata 1845.3 5 1 .8 3 5 5 .1 6 1 .1 189.2 9 4 .4 438 7 0 6 .8 2 5 .5 675 1092.8 1 1 .8 691 1 9 .5 1 0 0 .0 2 1 9 .3 6 .8 7 5 .0 6 6 .4 3 0 .4 3 0 .8 3100.7 618 Capit al Go o d s Kh ai t an B M 396

614 625 PDS, Mumbai 1823.3 2 0 .1 5 2 6 .0 2 5 .4 265.0 6 .7 356 9 9 4 .8 2 3 .0 555 1796.2 1 0 .2 516 6 6 .7 7 .4 7 6 1 .3 2 2 .6 3 0 .0 7 3 .8 3 0 .5 2 3 .9 7539.0 412 Text ile & Gar m en t s In d i an Privat e 526

615 595 M an g al am Cem en t , Kolkata 1822.2 1 4 .8 1 6 3 .4 - 3 3 .5 17.1 - 7 8 .0 842 7 5 6 .2 1 .9 655 1469.9 0 .5 585 4 .1 0 .0 1 1 3 .1 - 3 .8 1 0 .6 - 7 4 .4 3 .4 7 .3 1284.8 805 Cem en t & Bl d g M at er i al s Birla BK 733

616 582 Gr een p an el In d u st r i es, Delhi/ NCR 1 8 1 8 .6 1 1 .2 4 4 2 .0 0 .6 256.5 6 .7 361 1 1 9 3 .9 2 5 .5 498 1439.1 1 1 .8 594 1 8 .4 0 .0 1 3 9 .7 8 .8 9 4 .4 - 1 2 .9 2 3 .9 2 7 .2 4357.7 532 Pl y w o o d Bo ar d s/ Lam i n at es In d i an Privat e 260

617 4 9 8 PTC In d i a, Delhi/ NCR 1 8 1 3 .3 - 1 3 . 4 1 3 8 7 .0 - 1 3 .5 445.6 - 1 2 .0 249 4 1 6 4 .0 5 .9 199 11601.1 - 2 0 .2 120 2 3 0 .9 0 .0 8 4 .4 1 3 .0 1 7 3 .2 - 1 0 .3 1 0 .4 9 .8 4618.9 519 Tr ad i n g Govt o f Ind ia 901

618 6 3 6 Var d h m an Sp ecial St eels, Ludhiana 1 8 1 1 .1 2 0 .9 1 8 0 .1 - 1 1 .1 100.5 - 0 .3 599 6 4 2 .2 1 5 .7 704 788.6 9 .6 805 8 .1 - 4 2 .7 9 0 .0 1 1 .1 3 3 .9 - 4 1 .2 1 6 .8 2 0 .2 1760.9 752 M i n i n g & M e t al s In d i an Privat e 393

619 586 Privi Sp ecialit y Ch em icals, Ahmedabad 1 8 1 1 .0 1 2 .1 2 0 9 .1 - 1 0 .2 22.2 - 7 7 .2 830 8 2 2 .7 2 .2 617 1926.2 9 .3 490 - - 7 9 .7 3 .9 9 .8 - 7 2 .4 2 .6 5 .5 4874.6 508 Chem icals Fairf ax Gro up 873

620 6 6 8 Cap acit e In f rap ro ject s, Mumbai 1 8 0 8 .6 3 3 .7 3 6 1 .4 5 6 .5 95.3 9 9 .5 615 1 0 7 3 .4 1 1 .2 521 1621.0 6 .0 553 - - 1 2 7 .6 1 7 .2 4 0 .7 1 3 3 .9 9 .4 1 4 .3 2015.0 721 Realt y In d i an Privat e 786

621 645 Cam lin Fine Scien ces, Mumbai 1 7 9 0 .4 2 2 .8 2 0 7 .1 8 .6 52.1 - 1 4 .1 732 7 5 0 .8 1 5 .8 660 1625.4 1 4 .5 552 - - 1 6 2 .6 1 2 .1 4 0 .6 2 0 .7 6 .3 1 0 .7 2358.8 687 Chem icals In d i an Privat e 928

622 585 N RA g ar w al In d u st r i es, Mumbai 1 7 8 7 .9 1 0 .5 1 9 7 .3 2 7 .9 99.3 6 2 .7 603 6 3 5 .6 1 8 .6 710 810.3 1 2 .3 792 - - 7 7 .7 8 .7 4 8 .4 4 4 .2 1 7 .0 2 1 .1 629.0 892 Pap er In d i an Privat e 301

623 547 H i n d u st an Copper, Kolkata 1 7 8 1 .1 - 1 .8 5 8 7 .9 4 .7 295.5 - 2 1 .0 334 2 0 8 2 .2 8 .9 338 2286.5 - 2 .9 432 8 9 .0 - 2 0 .7 3 0 4 .5 - 1 8 .1 1 0 0 .4 1 1 4 9 .7 1 4 .8 1 7 .8 16413.4 239 M i n i n g & M e t al s Govt o f Ind ia 398

624 607 Allcarg o Gat i, Secunderabad 1 7 5 8 .0 1 2 .3 9 3 .9 5 1 .9 - 9.3 ** 900 5 4 1 .2 1 2 .1 746 954.6 6 .1 732 - - 1 8 8 .2 1 9 .0 1 6 .2 3 1 2 .5 - - 1830.6 743 Tr an sp o r t & Lo g i st i cs In d i an Privat e 743

625 6 2 3 D h an u k a Ag rit ech, Delhi/ NCR 1 7 5 0 .9 1 5 .0 3 2 3 .6 233.5 1 1 .8 386 1 0 6 1 .3 1 0 .5 527 1112.8 1 0 .5 684 9 .1 - 8 6 .0 1 2 6 .3 4 .8 6 9 .2 0 .8 2 3 .1 2 8 .9 4100.0 547 Agro Chem icals In d i an Privat e 149

626 732 Su n t eck Realt y, Mumbai 1 7 4 3 .6 5 3 .0 9 9 .6 - 1 5 .2 1.4 - 9 4 .4 883 2 7 8 7 .9 - 0 .1 270 3487.4 - 2 .7 318 2 2 .0 0 .0 6 9 .0 3 0 .8 3 .1 - 5 8 .7 0 .1 2 .6 6733.4 441 Realt y In d i an Privat e 694

627 j - Red t ap e, Delhi/ NCR 1 7 3 2 .9 3 8 0 .6 2 5 1 .0 4 3 1 .6 142.2 3 8 9 .5 497 4 7 6 .8 4 1 .9 770 842.8 4 0 .9 779 - - 4 9 .9 3 2 0 .8 4 7 .0 2 9 9 .2 3 5 .0 2 8 .7 6768.8 438 Ret ail In d i an Privat e 307

1 0 .0 In d i an Privat e 463
628 6 4 9 Everest In d u st r i es, Delhi/ NCR 1 7 2 4 .5 2 0 .6 1 0 8 .1 42.4 - 3 .9 761 5 8 1 .5 7 .2 725 694.4 1 6 .3 843 9 .4 0 .3 1 4 9 .7 1 5 .1 0 .5 - 9 7 .9 7 .5 1 1 .5 1905.2 732 Cem en t & Bl d g M at er i al s
- 1 7 .4 Ran a 935
629 6 1 4 Ran a Sug ars, Chandigarh 1 7 1 9 .0 1 1 .6 1 3 6 .7 63.4 - 2 5 .6 698 4 8 4 .3 1 5 .1 767 914.2 3 8 .6 751 - - 6 4 .2 3 0 .8 1 9 .1 - 1 9 .8 1 2 .5 1 2 .3 384.6 933 Sug ar
- 4 1 .9 595
630 4 8 4 N ah ar In d u st r ial En t erp rises, ludhiana 1 7 1 7 .8 - 2 0 . 3 1 8 6 .8 78.9 - 4 9 .7 658 9 5 9 .7 7 .0 571 1240.0 - 2 2 .7 645 - - 1 6 5 .8 1 .6 2 1 .8 - 6 2 .9 6 .4 8 .0 581.9 900 Text ile & Gar m en t s N ahar Gro up
872
631 606 Healt h care Glo b al En t erp rises, Bengaluru 1 7 1 5 .9 9 .5 3 1 1 .9 - 9 .3 29.4 - 4 5 .4 804 8 5 1 .6 - 0 .6 604 1810.8 - 0 .6 511 - - 2 7 5 .1 1 7 .7 2 7 .3 - 4 4 .2 1 .4 6 .6 5089.3 501 Healt h care In d i an Privat e
946
632 548 AGS Transact Tech n o lo g ies, Mumbai 1 7 0 7 .8 - 4 .6 4 3 1 .9 - 0 .8 37.0 *** 785 5 3 5 .1 1 1 .1 751 1792.2 1 0 .9 518 - - 2 4 0 .4 - 9 .6 2 0 .6 2 9 .4 7 .3 1 1 .8 944.7 846 M i scel l an eo u s In d i an Privat e
677
633 578 SH Ke l k a r & Co m p a n y , Mumbai 1 7 0 4 .5 2 .8 2 0 8 .7 - 5 .2 61.2 - 5 8 .8 705 1 0 2 6 .1 1 0 .0 542 1686.1 - 2 .6 540 2 7 .7 1 6 6 .7 2 1 1 .8 6 .6 4 1 .4 - 6 .9 8 .3 2090.9 714 Chem icals In d i an Privat e
735
634 646 Visaka In d u st r i es, Hyderabad 1 6 9 2 .9 1 6 .2 1 4 6 .1 - 3 0 .4 53.6 - 5 4 .7 726 7 7 1 .5 5 .4 643 1158.8 2 8 .8 666 1 7 .3 - 3 3 .3 1 3 7 .1 3 .7 2 0 .0 - 5 2 .7 7 .1 9 .3 747.7 876 Cem en t & Bl d g M at er i al s In d i an Privat e
162
635 5 9 4 Alkyl A m i n es Ch em icals, Mumbai 1 6 9 2 .6 6 .2 3 5 7 .1 5 .0 228.7 1 .7 392 1 1 6 8 .9 1 8 .1 506 1267.3 2 4 .4 637 5 1 .2 0 .1 6 9 .6 9 .7 7 9 .9 3 .5 2 1 .2 2 7 .3 11417.1 309 Chem icals In d i an Privat e
536
636 6 6 4 ERI SLi f e sci e n ce s ,A h m ed a b a d 1 6 9 2 .5 2 3 .2 5 4 8 .1 7 .2 382.2 - 5 .9 278 2 1 7 1 .3 1 3 .8 331 3135.1 5 4 .4 348 1 0 0 .0 2 2 .4 3 4 6 .2 3 8 .4 3 0 .5 - 1 6 .3 1 8 .2 1 6 .7 12118.1 295 Ph ar m aceu t i cal s In d i an Privat e
788
637 657 A n u p a m Rasayan In d i a, Surat 1 6 7 6 .0 1 9 .4 4 4 1 .4 4 1 .1 180.9 1 8 .8 454 2 2 3 7 .1 2 9 .5 320 3195.4 2 4 .7 342 2 6 .9 1 6 8 .2 6 8 .9 4 2 .1 9 0 .8 3 0 .3 1 0 .6 1 2 .9 10350.9 330 Chem icals In d i an Privat e
402
638 6 2 6 Ro ssari Bio t ech , Mumbai 1 6 7 5 .0 1 0 .4 2 2 9 .5 1 6 .5 107.3 9 .8 584 9 1 5 .2 1 3 .7 585 1001.0 1 1 .0 716 2 .8 0 .4 9 8 .6 4 5 .2 3 7 .0 - 4 .2 1 2 .5 1 7 .5 4277.9 535 Chem icals In d i an Privat e
395
639 652 Pr at aap Sn ack s, Indore 1 6 6 8 .2 1 7 .6 7 0 .2 2 0 .8 20.3 5 9 7 .9 835 6 7 6 .2 8 .3 690 761.9 3 .9 820 2 .4 1 0 0 .9 7 5 .4 3 1 .9 - 1 8 .8 - 3 .1 1 .1 2198.1 701 Co n su m er St ap l es In d i an Privat e
134
640 673 Sree Rayal aseem a H i - St r en g t h , Kurnool 1 6 6 6 .2 2 4 .4 2 1 4 .5 3 4 .6 154.3 5 0 .1 481 7 5 0 .8 3 1 .7 661 774.4 2 8 .4 814 6 .9 1 4 .1 3 8 .8 3 5 .0 3 6 .2 5 .8 2 3 .4 2 8 .3 972.5 841 Chem icals Sree Rayal seem a
469
641 6 0 4 Ind o co Rem ed i es, Mumbai 1 6 6 4 .4 6 .1 2 8 8 .4 - 1 2 .5 142.3 - 8 .1 496 1 0 2 8 .3 1 3 .7 541 1401.9 1 6 .8 605 2 0 .7 0 .0 3 2 2 .6 8 .9 5 0 .6 - 3 8 .2 1 4 .7 1 6 .7 3267.7 605 Ph ar m aceu t i cal s In d i an Privat e
243
642 687 Cig n it iTech n o lo g ies, Hyderabad 1 6 6 2 .3 3 2 .4 2 5 2 .4 7 6 .9 168.3 8 3 .5 465 5 8 9 .4 2 8 .2 720 672.3 2 0 .6 851 1 5 .0 1 1 3 .8 9 6 4 .5 3 0 .5 5 3 .3 7 9 .0 3 2 .1 3 6 .8 2843.7 634 Tech n o l o g y- So f t w ar e In d i an Privat e
265
643 6 7 1 Fed er al - M o g u l Go et ze, Delhi/ NCR 1 6 5 5 .3 2 3 .2 2 2 9 .6 3 3 .0 100.9 8 6 .7 598 9 0 8 .0 1 2 .4 587 1020.3 1 1 .1 711 - - 3 4 4 .4 5 .9 3 3 .7 5 4 .8 1 1 .6 1 5 .1 1996.3 723 Aut o An cillaries Fo r ei g n - Fed er al M o g ul
539
644 621 Sau r ash t r a Cem en t , Mumbai 1 6 5 0 .3 8 .3 1 9 .0 - 7 6 .2 - 22.0 ** 909 8 8 2 .2 - 2 .4 597 967.2 - 6 .0 726 - - 9 7 .8 4 .2 - 7 .1 - - 2 .5 - 2 .0 973.6 840 Cem en t & Bl d g M at er i al s NRI - M ah en d r a M
229
645 5 7 4 NOCIL, Mumbai 1 6 4 7 .1 - 1 .0 2 5 9 .0 - 1 0 .7 149.2 - 1 5 .3 489 1 5 5 2 .1 7 .4 410 1578.1 7 .6 564 5 0 .0 0 .0 8 7 .5 8 .2 5 2 .9 - 1 7 .9 1 0 .0 1 3 .4 3974.1 553 Chem icals M af at lal Ar vi n d
718
646 377 KIOCL, Bengaluru 1 6 3 3 .7 - 4 6 . 4 - 8 3 .7 - 97.7 ** 935 2 0 0 2 .0 - 6 .6 345 2627.6 1 1 .2 386 - - 1 6 6 .1 - 1 1 .8 - 2 5 .1 - - 4 .7 - 4 .4 20761.9 209 M i n i n g & M e t al s Govt o f Ind ia
126
647 567 KSE, Prichur 1 6 1 7 .1 - 4 .2 3 .5 - 7 5 .5 - 2.4 ** 895 2 1 4 .1 - 3 .9 900 233.1 - 3 .6 970 6 .4 0 .0 5 8 .2 5 .1 - 0 .6 - - 1 .7 - 0 .9 538.3 909 Food Pro cessing In d i an Privat e
851
648 6 5 1 Kan o r i a Chem icals & In d s, Delhi/ NCR 1 6 1 6 .1 1 3 .3 8 2 .7 - 1 4 .8 - 8.8 ** 898 6 0 3 .7 1 .3 717 1125.3 3 .6 676 - - 2 1 3 .4 8 .6 0 .7 - 9 3 .9 - 3 .8 1 .3 569.3 902 Chem icals Kan o ria
984
649 683 JITF Infra Logist ics, Delhi/ NCR 1 6 1 3 .4 2 7 .5 2 7 3 .4 7 2 .4 - 127.7 * 944 - 9 5 4 .0 - 979 2638.6 1 4 .2 383 - - 9 8 .6 2 3 .9 1 0 .0 4 7 8 .5 - - 1339.5 798 Tr an sp o r t & Lo g i st i cs In d i an Privat e
885
650 573 Nect ar Lif escience, Delhi/ NCR 1 6 0 8 .4 - 3 .4 9 6 .2 - 4 3 .4 - 24.2 ** 912 1 0 6 4 .6 - 2 .1 526 1825.7 - 6 .7 504 - - 7 5 .1 4 .5 - 1 8 .2 - - 6 .0 - 0 .2 605.0 897 Ph ar m aceu t i cal s In d i an Privat e
472
651 680 Cam p u sAct i vew ear , Delhi/ NCR 1595.3 2 3 .5 2 5 6 .3 4 .9 117.1 7 .9 561 5 5 2 .1 2 9 .1 739 898.3 2 4 .5 757 - - 8 0 .2 2 2 .0 3 9 .5 - 3 7 .5 2 3 .9 2 2 .9 8434.3 382 Fo o t w ear & Accesso r i es In d i an Privat e
405
2 3 4 .1 In d i an Privat e
652 6 7 8 GN AAxl es, Hoshiarpur 1589.1 2 1 .6 2 9 .0 130.2 4 6 .7 526 7 1 4 .5 2 0 .0 674 917.8 1 2 .3 749 1 2 .9 2 0 .0 6 6 .4 1 3 .3 4 4 .4 3 9 .7 1 9 .9 2 1 .4 1851.5 740 Aut o An cillaries
951
3 8 .6 In d i an Privat e
653 8 0 4 Si g n at u r eGl o b al In d i a, Delhi/ NCR 1585.9 - 63.9 * 929 4 4 .9 - 951 1787.5 9 1 .9 519 - - 1 0 6 .5 3 5 .3 7 .0 - - - 9463.7 353 Realt y
713
2 2 6 .8 In d i an Privat e
654 6 9 4 Sai Si l k s(Kal am an d i r ), Hyderabad 1571.9 2 6 .5 5 9 .8 97.6 6 9 .2 608 3 9 7 .3 3 2 .2 806 930.6 4 2 .9 740 - - 1 3 3 .5 3 4 .9 3 6 .0 8 3 .6 2 8 .0 2 3 .5 4078.6 550 Ret ail
891
1 6 4 .9 In d i an Privat e
655 6 1 8 In d i an H u m e Pip e Co, Mumbai 1570.6 2 .7 2 .1 55.7 - 3 .6 721 6 9 5 .3 6 .9 679 1378.9 6 .9 613 9 .7 0 .0 7 9 .4 2 .0 1 6 .7 - 1 7 .4 8 .3 1 1 .2 1300.9 802 Cem en t & Bl d g M at er i al s
286
In d i an Privat e
656 672 Cap lin Po int Lab s, Chennai 1 5 6 9 .7 1 7 .1 4 9 7 .1 1 4 .7 376.3 2 5 .5 281 1 6 3 7 .1 3 1 .9 392 1901.2 2 6 .4 492 3 4 .2 1 2 .6 1 3 7 .0 1 8 .8 7 4 .4 - 3 .9 2 5 .7 2 6 .6 8943.1 364 Ph ar m aceu t i cal s
657
In d i an Privat e
657 603 Vishal Fab rics, Ahmedabad 1 5 6 1 .4 - 0 .6 1 3 9 .7 - 1 5 .1 52.8 - 2 3 .5 729 3 9 0 .3 1 6 .6 813 721.5 0 .3 829 - - 6 3 .3 - 1 8 .2 1 6 .1 - 3 3 .3 1 4 .6 1 4 .8 435.4 922 Text ile & Gar m en t s
296
In d i an Privat e
658 6 6 1 JTL In d u st ries, Mumbai 1 5 6 0 .4 1 2 .0 1 3 3 .2 4 2 .9 90.1 4 7 .6 630 4 0 7 .1 1 0 6 .0 798 463.5 5 7 .8 921 1 .7 - 1 8 .3 1 0 .5 3 2 .5 5 2 .6 2 9 .8 3 4 .1 3816.5 563 M i n i n g & M et als
200
Eleco n
659 6 8 6 Elecon Eng ineering Co , VallabhVidyanagar 1 5 5 8 .0 2 3 .9 3 6 2 .6 4 1 .0 237.5 6 9 .0 383 1 2 7 9 .1 2 1 .8 476 1364.3 9 .1 620 2 2 .4 4 2 .8 1 4 9 .7 1 6 .8 6 2 .3 1 0 7 .5 2 0 .4 2 4 .0 9805.4 342 Capit al Go o d s
762
Ban sw ar a
660 6 9 0 Ban sw ar a Syn t ex, Mumbai 1 5 5 4 .3 2 4 .7 2 1 3 .9 5 5 .5 112.7 1 4 7 .1 575 5 0 9 .1 2 7 .6 756 891.1 3 3 .0 762 1 0 .3 1 4 0 .0 2 8 6 .4 3 0 .6 2 8 .6 1 3 .1 2 4 .8 2 2 .2 504.5 914 Text ile & Gar m en t s

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s

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RANK COMPANY, CITY ywutsrponmlkjihgedbaYVUTRPNMKIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
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2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
661 553 M T N L, Delhi/ NCR 1549.6 - 1 2 .9 1 7 8 .1 - 4 4 .2 - 2915.1 * 997 - 2 0 8 5 4 .9 999 8033.2 176 5 6 8 .8 - 1 .4 - 0 .5 - 1868.7 737 Tel eco m m u n i cat i o n s Go vt of Ind ia 996
662 692 Bh ar at Bi j l ee, Mumbai 1544.5 2 4 .2 1 4 8 .7 3 4 .0 83.2 4 9 .7 644 1 3 7 7 .7 2 2 .6 453 1672.7 1 8 .6 543 2 2 .6 3 3 .3 1 4 7 .4 9 .6 2 8 .1 4 8 .3 6 .7 2170.6 708 Capit al Goods In d i an Privat e 638
**
663 588 Asian Granit o In d i a, Ahmedabad 1540.5 - 4 .5 - 5 1 .4 ** - 72.7 932 1 2 3 4 .8 3 9 .7 488 1485.2 3 2 .4 582 1 1 9 .8 7 .4 - 2 5 .5 - - 8 .0 - 6 .6 963.2 843 Ceram icPro d u ct s In d i an Privat e 954
664 833 BLS In t er n at i o n al Services, Delhi/ NCR 1537.4 7 7 .8 2 4 1 .6 9 6 .3 200.8 8 0 .4 415 7 6 8 .6 3 4 .9 646 813.0 3 9 .2 790 3 0 .8 1 4 0 .5 1 3 9 .6 8 4 .2 1 6 .2 4 8 9 .8 2 9 .8 3 1 .9 11223.2 312 Tech n o l o g y- So f t w ar e In d i an Privat e 65
665 721 M M Fo rg ing s, Chennai 1534.5 3 0 .5 2 8 5 .3 2 7 .2 127.9 4 0 .6 530 6 7 2 .7 2 0 .2 691 1433.2 1 4 .6 595 1 4 .5 0 .0 1 2 2 .2 1 1 .0 4 9 .0 2 9 .5 1 9 .9 1 5 .1 2177.4 707 Aut o An ci l l ar i es In d i an Privat e 730
666 729 Ar ch ean Chem ical In d s, Chennai 1531.7 3 3 .4 6 7 7 .3 4 1 .2 382.6 1 0 3 .3 277 1 4 3 1 .0 4 4 5 .6 440 1500.5 1 0 .7 578 3 0 .8 - 7 2 .1 9 0 .4 1 2 9 .1 1 0 5 .6 4 5 .2 4 2 .6 7314.8 420 Chem icals In d i an Privat e 533
667 - Sakt h i Su g ars, Coimbatore 1527.7 1 7 4 .1 5 6 0 .7 3 3 2 .6 417.8 261 - 1 0 .8 957 859.3 6 0 .8 772 4 5 .7 1 7 .0 - 2 .2 - - 2 4 4 .6 8 .0 360.5 937 Sug ar Sakt h i 903
668 712 RSyst em s In t er n at i o n al , Pune+ 1526.1 2 7 .4 2 1 0 .0 3 .6 139.7 - 1 .2 502 5 4 5 .5 1 8 .5 743 644.3 1 9 .8 860 7 6 .9 1 4 .0 1 0 1 9 .4 3 0 .7 3 0 .5 6 .5 2 7 .8 2 9 .6 5972.2 471 Tech n o l o g y- So f t w ar e In d i an Privat e 143
669 483 Bo d al Ch em icals, Ahmedabad 1522.6 - 2 9 .4 1 4 5 .0 - 3 3 .5 38.0 - 6 3 .5 780 1 0 7 7 .7 2 .4 520 1837.9 6 .3 502 1 .3 - 8 7 .1 9 4 .8 - 1 4 .2 1 2 .8 - 7 0 . 5 3 .6 5 .2 977.7 839 Chem icals In d i an Privat e 777
670 733 Kolt e Pat il Develo p ers, Pune 1521.0 3 3 .8 2 2 1 .9 1 1 .9 102.5 2 9 .0 596 1 0 3 7 .8 9 .1 536 1712.2 8 .6 537 3 0 .4 1 0 0 .0 1 2 3 .8 1 8 .0 5 6 .2 9 .3 1 1 .3 1 2 .8 3776.6 567 Realt y In d i an Privat e 734
671 - Po n d y Oxid es s Ch em icals, Chennai 1513.2 - 1 1 1 .8 - 75.6 666 2 6 4 .8 881 421.3 - 930 5 .8 - 2 2 .7 1 6 .8 1 9 .7 1 7 .1 520.8 911 Chem icals In d i an Privat e 361
672 542 Loyal Text ile M ills, Chennai 1509.2 - 1 9 .2 7 7 .3 - 6 3 .9 2.8 - 9 7 .1 882 3 6 0 .3 - 0 .6 832 1023.8 4 .5 709 1 7 6 .5 7 .8 - 2 .7 0 .8 4 .1 304.0 949 Te x t i l e s Gar m en t s In d i an Privat e 862

673 750 TCPL Packag in g , Mumbai 1508.0 3 7 .3 2 6 3 .0 6 6 .6 111.1 1 3 4 .6 580 4 4 0 .0 3 0 .4 785 966.5 1 7 .0 727 1 8 .2 1 0 0 .0 1 2 3 .5 2 1 .6 4 1 .1 9 6 .9 2 4 .9 2 0 .2 1987.4 724 Packag in g In d i an Privat e 693

674 707 Ju b i l an t In d s, Delhi/ NCR 1507.8 2 5 .1 1 1 7 .1 1 6 .8 62.1 1 6 .0 704 2 0 3 .4 4 5 .5 905 414.7 3 4 .1 932 1 0 6 .4 1 0 .5 1 9 .4 3 .2 3 4 .0 2 5 .1 927.3 850 Agro Chem icals Ju b i l an t Bh art ia 754

675 637 Ram co In d s, Chennai 1500.4 0 .6 1 7 6 .5 - 2 4 .5 122.5 - 5 9 .5 548 3 8 8 4 .0 3 .3 211 4195.1 5 .2 282 8 .7 0 .1 1 3 0 .1 1 .3 1 5 .5 - 7 6 .5 2 .8 3 .5 1799.4 748 Ce m e n t s Bl d g M at erials Ram co 804

676 696 Dat am at ics Glo b al Services, Mumbai 1497.9 2 1 .0 2 8 2 .7 2 3 .2 189.0 2 0 .0 441 1 0 5 5 .1 2 2 .6 528 1110.9 1 6 .5 685 2 9 .5 3 3 .3 8 9 7 .0 1 4 .5 5 8 .1 5 8 .4 1 9 .5 2 4 .0 3809.3 564 Tech n o l o g y- So f t w ar e In d i an Privat e 244

677 700 GRM Overseas, Panipat 1495.9 2 1 .6 1 1 1 .0 - 1 4 .5 62.7 - 2 5 .2 702 2 7 1 .0 3 3 .6 879 687.5 2 6 .3 847 2 .7 - 9 5 .1 8 .0 1 4 .1 2 4 .5 - 1 5 .7 2 6 .4 1 7 .5 1166.3 820 Co n su m er St ap l es In d i an Privat e 828

678 727 Affle In d i a, Delhi/ NCR 1488.3 2 9 .0 3 4 2 .4 2 0 .4 244.6 1 4 .4 373 1 4 6 2 .9 2 4 .3 430 1651.5 1 3 .9 547 1 8 7 .2 4 4 .4 3 6 .1 1 9 .9 1 8 .6 1 8 .9 15506.3 246 Tech n o l o g y- So f t w ar e In d i an Privat e 457

679 - Sw an Energ y, Mumbai 1485.8 1 8 8 .2 2 4 1 .9 2 2 1 .7 - 61.1 928 8 3 2 .3 5 .1 610 7569.2 4 0 .5 184 2 .6 0 .0 3 1 .6 2 5 .7 - 1 .2 12674.5 285 Te x t i l e s Gar m en t s In d i an Privat e 985

680 639 GTL Inf rast ruct ure, Mumbai 1485.3 0 .6 - 5 3 1 .4 * - 1816.9 995 - 4 5 4 0 .7 - 994 52.9 - 9 7 .6 996 6 3 .4 2 .1 1423.5 787 Capit al Goods Glo b al 598

681 629 M OIL, Nagpur 1484.1 - 1 .5 4 4 8 .8 - 2 8 .4 250.6 - 3 3 .5 367 2 2 4 4 .3 4 .8 318 2311.8 4 .7 428 7 5 .1 - 3 8 .5 5 7 0 .1 2 8 .7 8 3 .9 - 4 2 . 7 1 1 .4 1 4 .8 5496.9 483 M i n i n g S M et als Go vt of Ind ia 291
**
682 490 ITI, Bengaluru 1481.5 - 3 0 .6 - 1 0 0 .8 ** - 359.9 969 2 3 7 4 .3 - 9 .0 303 4597.7 - 0 .2 265 2 2 8 .9 3 .0 26134.4 177 Capit al Goods Go vt of Ind ia 908

855 3 8 4 .3 0 .0 817 777.4 392.3 929 Si d d h ar t h S

683 663 M aw an aSu g ar s, Delhi/ NCR 1475.8 7 .2 7 8 .8 - 2 3 .8 13.1 - 4 9 .8 - 4 .2 812 1 1 .7 0 .0 7 8 .2 1 2 .8 2 .1 - 8 2 .1 3 .4 5 .4 Sug ar 719
699 4 6 5 .5 1 2 .8 779 847.0 882 Su k h j i t Gro up
684 726 Su k h j i t St arch s Ch em icals, Phagwara 1474.5 2 7 .4 1 5 0 .1 - 6 .6 63.4 - 1 3 .0 1 2 .7 776 1 2 .5 - 2 0 .0 6 0 .6 1 1 .7 2 2 .9 - 2 1 .4 1 4 .4 1 4 .3 690.6 Chem icals 699
876 4 2 0 .2 793 705.8 939 W el sp u n
685 - AYM Syn t ex, Mumbai 1467.6 - 1 0 3 .1 - 7.2 - 834 6 3 .3 3 .5 1 .9 6 .8 346.7 Te x t i l e s Gar m en t s 605
469 599 Ga r w a r e SB
686 654 Gar w ar e HiTech Fi l m s, Mumbai 1463.7 3 .8 2 6 9 .4 - 2 .9 166.1 - 0 .6 1 8 5 5 .8 8 .5 365 2010.4 5 .2 475 2 3 .2 0 .0 1 2 1 .9 - 0 .8 5 3 .8 - 1 5 .8 9 .3 1 2 .1 3332.8 Packag in g 407
** 947
687 600 Ban n ari A m m an Sp inning M ills, Coimbatore 1460.7 - 7 .3 5 9 .0 - 6 5 .9 - 29.6 916 3 7 4 .3 - 9 .4 822 1047.7 6 .8 703 1 6 5 .3 - 2 .0 - 1 0 .8 - 5 .2 2 .4 308.6 Te x t i l e s Gar m en t s Ban n ar i A m m a n 971
* 910 812 In d i an Privat e
688 610 So lara Act ive Ph ar m a, Chennai 1459.3 - 5 .7 1 5 6 .4 6 2 .1 - 22.2 1 4 9 8 .0 - 1 .6 423 2562.5 - 2 .3 396 1 0 .8 2 2 8 .6 - 3 .3 - 2 2 .6 - 1 .5 1 .7 1206.5 Ph ar m aceu t i cal s 956
560 821 In d i an Privat e
689 769 Ch am an l al Set ia Exp o r t s, Delhi/ NCR 1452.8 4 0 .8 1 7 0 .4 7 1 .9 117.7 8 1 .1 5 2 8 .7 2 9 .1 753 729.1 3 8 .3 827 5 .2 1 5 .0 1 8 .5 3 9 .5 7 9 .1 2 5 .1 2 8 .0 1165.7 Food Pro cessing 432
784 829 M af at lal Ar vi n d
690 745 M af at lal In d u st r i es, Mumbai 1451.8 3 0 .6 7 3 .0 1 0 .8 37.2 2 9 .3 6 1 4 .4 1 0 .4 714 729.5 - 1 1 .0 826 5 3 .2 1 9 .2 2 .8 - 2 .1 2 .4 4 .0 1071.9 Te x t i l e s Gar m en t s 632
813 747 Ram si n g h an i
691 868 Ram a St eel Tu b es, Delhi/ NCR 1451.0 8 2 .8 5 9 .9 1 7 .2 26.7 - 2 .4 2 3 6 .7 8 6 .9 891 444.1 6 7 .1 926 1 3 .2 1 6 .1 7 .5 - 1 2 .7 1 4 .6 1 5 .6 1810.3 M i n i n g s M et als 708
390 276 In d i an Privat e
692 735 Hap p iest M ind s Tech n o , Bengaluru 1450.4 2 8 .3 3 7 3 .6 2 9 .4 231.0 2 7 .5 8 3 8 .8 2 6 .0 608 1417.2 4 9 .6 602 7 7 .4 4 4 .6 8 0 6 .8 3 0 .1 7 8 .9 2 2 .0 3 0 .7 2 8 .1 13009.5 Tech n o l o g y- So f t w ar e 643
378 510 In d i an Privat e
693 655 Gat ew ay Dist rip arks, Delhi/ NCR 1448.0 2 .9 3 9 6 .3 - 1 .7 239.9 7 .2 1 7 6 4 .7 8 .5 376 2314.6 2 .2 424 9 9 .9 6 0 .0 6 6 .4 0 .9 4 .4 1 4 .2 1 2 .8 4817.6 Tr a n sp o r t s Logistics 715
518 660 Pu n j ab Tract or
694 728 Sw ar aj En g i n es, Chandigarh 1437.7 2 5 .1 1 9 8 .4 2 0 .2 133.6 2 2 .1 3 4 2 .2 1 2 .0 839 350.1 1 2 .3 944 1 1 1 .8 1 5 .1 4 3 .7 - 0 .3 4 6 .1 2 3 .4 4 1 .3 5 4 .3 2602.4 Capit al Goods 23
258 155 In d i an Privat e
695 736 Ved an t Fash io n s, Kolkata 1434.0 2 7 .2 7 1 1 .1 3 0 .3 429.1 3 6 .3 1 3 9 9 .9 2 9 .3 450 1847.2 2 3 .6 501 2 1 8 .5 8 0 .1 5 6 .6 - 1 .6 1 4 6 .7 3 5 .7 3 4 .6 3 6 .3 32174.4 Ret ail 381
** 926 824 In d i an Privat e
696 742 St eel Exch an g e In d i a, Visakhapatnam 1429.8 2 8 .3 1 0 1 .7 - 1 9 .5 - 58.9 3 0 9 .0 9 .2 858 878.5 - 7 .6 766 3 2 .4 7 .9 3 0 .5 1127.7 Trad in g 808
510 711 In d i an Privat e
697 758 Vi sh n u Ch em icals, Hyderabad 1429.3 3 4 .8 2 4 6 .6 5 0 .9 136.6 6 7 .8 4 1 4 .4 4 9 .7 796 794.4 2 0 .4 802 2 .4 0 .0 4 6 .0 1 0 .9 4 8 .9 5 8 .0 3 9 .5 3 0 .3 2141.3 Chem icals 560
674 579 In d i an Privat e
698 759 DCXSyst em s, Bengaluru 1427.0 3 5 .5 1 1 3 .5 2 7 .4 72.0 9 .8 5 6 7 . 1 3 8 2 .2 733 1072.0 7 2 .6 693 1 0 .5 2 1 .1 1 4 .1 4 1 .6 2 1 .0 1 3 .2 3575.4 Capit al Goods 916
652 915 In d i an Privat e
699 856 Goa Carb o n, Panaji 1421.7 7 5 .1 1 5 6 .6 1 6 4 .5 80.8 1 1 3 .7 1 8 6 .0 6 2 .3 912 608.2 7 1 .6 875 1 6 .0 7 5 .0 2 2 .8 - 3 .7 2 7 .5 7 7 5 .2 5 3 .7 3 2 .1 491.3 Chem icals 925
417 492 In d i an Privat e
700 708 Vo l t am p Tr an sf o r m er s, Vadodara 1421.6 1 8 .2 2 7 1 .0 4 8 .9 199.9 5 0 .5 1 1 0 7 .2 1 7 .5 514 1118.9 1 7 .3 681 6 0 .7 7 1 .4 4 0 .1 3 .2 6 0 .4 4 9 .7 1 9 .5 2 5 .2 5339.0 Capit al Goods 140
404 647 Hinduja
701 887 GOCL Co rp o rat io n, Hyderabad 1415.5 8 7 .0 4 5 7 .9 7 8 .7 211.2 1 9 .9 1 4 0 9 .5 2 2 .4 447 3271.1 1 5 .0 330 4 9 .6 1 0 0 .0 6 3 .6 1 6 .3 1 1 7 .7 7 1 4 .6 3 .1 5 .5 2704.0 O i l s Lu b rican t s 975
734 793 In d i an Privat e
702 751 Alico n Cast alloy, Pune 1414.9 3 0 .3 1 5 6 .9 3 5 .5 51.4 1 1 2 .7 4 8 7 .9 8 .7 765 794.7 1 0 .3 801 1 0 .1 1 7 7 .4 1 6 4 .9 1 9 .4 1 0 .7 2 7 .3 1 1 .0 1 2 .3 1351.3 Aut o An ci l l ar i es 664
555 817 In d i an Privat e
703 517 EKI Energ y Services, Indore 1413.1 - 2 9 .2 1 7 5 .2 - 6 6 .1 119.7 - 6 8 .8 5 0 4 .8 2 3 .6 760 785.0 9 0 .7 808 5 4 .4 1 1 5 .9 4 6 .0 - 6 5 .3 2 5 .7 2 8 .6 1185.4 M iscellan eo u s 336
657 677 In d i an Privat e
704 679 IFGL Ref ract o ries, Kolkata 1409.4 8 .1 1 6 6 .1 4 .8 79.2 2 .2 1 0 0 5 .1 7 .6 549 1165.2 1 2 .8 663 2 5 .2 0 .0 1 9 4 .8 1 2 .0 2 6 .5 0 .2 8 .2 1 0 .1 2432.1 M i n i n g s M et als 737
941 649 In d i an Privat e
705 641 Seq u en t Sci en t i f i c, Bengaluru 1408.4 - 4 .4 - 4 6 .5 ** - 121.2 ** 6 4 8 .4 0 .7 699 1164.2 8 .2 665 2 5 8 .4 1 1 .7 - 1 5 .7 - 9 .0 - 3 .5 2686.5 Ph ar m aceu t i cal s 933
263 245 In d i an Privat e
706 627 Su ven Ph ar m aceu t i cal s, Hyderabad 1407.6 - 7 .0 6 2 0 .3 - 1 3 .3 411.3 - 9 .4 1 7 3 5 .2 1 3 .6 379 1813.8 1 1 .1 510 1 5 2 .8 2 0 .0 1 1 0 .5 1 0 .0 1 4 8 .4 - 3 0 .6 2 5 .2 3 3 .2 15723.2 Ph ar m aceu t i cal s 257
778 718 M o r ep en
707 605 M o rep en Lab o rat o ries, Delhi/ NCR 1407.2 - 1 0 .2 8 5 .7 - 4 1 .7 38.7 - 6 2 .0 7 5 3 .4 3 0 .1 657 811.3 2 9 .0 791 1 5 4 .7 - 5 .8 1 7 .1 - 3 1 .7 5 .8 8 .0 2052.9 Ph ar m aceu t i cal s 720
650 641 Fo r ei g n - Ki n g f a
708 740 King fa Science sTe c h n o , Chennai 1403.9 2 5 .5 1 3 0 .3 1 1 8 .6 81.4 1 6 5 .8 4 6 6 .0 2 1 .2 777 509.6 1 8 .0 908 2 4 .7 2 4 .5 2 8 .2 1 6 3 .1 1 9 .1 2 4 .7 2754.8 Pet ro chem icals s Plast ics 428
676 Jo in t Sect o r
709 716 Gu jarat Ind ust ries Po w er Co, Vadodara 1403.7 1 7 .6 4 5 6 .0 6 .8 188.7 1 0 .1 442 3 1 5 4 .3 3 .6 245 3972.3 2 .6 296 5 6 .7 5 0 .0 1 0 3 .4 5 .0 6 4 .7 - 1 4 .8 6 .1 7 .4 2435.3 Po w er 610
832 In d i an Privat e
710 682 Ug ar Su g ar W o r k s, Ugarkhurd 1398.0 9 .5 2 1 4 .9 1 1 1 .8 103.1 1 3 7 .8 595 2 2 0 .8 8 1 .4 898 624.7 - 2 4 .3 867 5 .6 1 0 0 .4 1 0 7 .9 3 7 .6 4 5 .4 1 3 9 1 .8 6 0 .2 2 7 .1 1040.5 Sug ar 563
575 In d i an Privat e
711 660 Harsha Engineers In t er n at i o n al , Ah m edabad 1393.1 - 0 .4 2 1 9 .1 1 7 .4 123.3 3 4 .1 542 1 0 7 1 .8 1 0 5 .4 523 1265.0 3 7 .5 639 9 .1 1 5 6 .2 7 .6 4 3 .8 2 6 .4 1 5 .5 1 6 .8 3630.6 Aut o An ci l l ar i es 577
350 In d i an Privat e
712 681 HBL Po w er Syst em s, Hyderabad 1391.7 8 .8 1 7 1 .8 4 .1 98.7 5 .1 607 9 5 1 .5 9 .9 575 1039.7 1 1 .8 704 1 2 .5 1 2 .4 1 0 6 .6 1 0 .6 3 1 .4 9 .3 1 0 .8 1 3 .8 9567.4 Co nsum er Durab les 325
669 In d i an Privat e
713 674 Un ip art s In d i a, Delhi/ NCR 1391.4 4 .6 3 1 3 .2 1 5 .3 204.9 2 1 .4 411 8 3 0 .6 2 1 .2 612 909.1 5 .6 754 6 3 .6 5 4 .9 2 3 9 .7 9 .1 6 3 .3 4 .6 2 7 .0 3 1 .0 2508.4 Aut o An ci l l ar i es 221
848 In d i an Privat e
714 782 Creat ive N ew t ech , Mumbai 1381.6 4 0 .5 4 5 .2 3 8 .6 24.6 5 3 .8 819 1 0 8 .6 4 2 .6 938 207.2 4 0 .4 979 0 .6 5 .0 1 3 .7 1 9 .4 6 .9 2 1 .3 2 7 .3 2 4 .6 934.7 Trad in g 668
436 In d i an Privat e
715 777 M rs Bect ors Fo o d , Delhi/ NCR 1381.5 3 8 .8 1 8 7 .2 4 5 .0 90.1 5 7 .6 631 5 4 4 .3 1 6 .1 744 685.0 1 0 .5 848 1 7 .7 2 0 .1 1 6 3 .0 1 8 .3 3 0 .6 6 4 .9 1 7 .8 2 0 .5 6811.4 Co n su m er St ap l es 256

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n e d f r o m loss t o p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h year s

47 M arch 202 4 23
RANKED BY TOTAL REVENUES
011000
RANK COMPANY, CITY yutsrponmlkjihgedbaYUTRPNMLKJIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 %CHG FY23 % CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 % C H G % ~ CR RANK RANK
716 643 Siti N et w o r ks, Delhi/ NCR 1380.0 - 5 .5 1 4 5 .5 - 2 4 .3 - 280.0 * 961 - 8 2 3 .2 - 977 220.6 - 6 0 .7 974 6 7 .2 - 3 .5 1 .1 - 4 3 . 4 68.9 994 M ed ia & En t er t ai n m en t Essel 794
717 730 N IITLear n i n g Syst em s, Delhi/ NCR 1377.7 2 0 .1 2 9 2 .3 - 5 .2 192.2 - 4 .9 430 7 7 0 .3 4 1 .3 644 1103.0 9 8 .0 686 6 9 4 .2 2 1 .1 3 6 .3 - 3 9 . 7 2 9 .2 2 9 .5 5445.6 488 Tech n o l o g y- So f t w ar e In d i an Privat e 382
718 743 Vesu viu s In d i a, Kolkata + 1377.0 2 3 .6 1 8 7 .6 5 6 .5 116.8 7 1 .6 563 9 9 7 .8 1 1 .3 553 1023.0 1 1 .2 710 1 6 .8 3 .1 9 0 .4 1 4 .2 4 0 .1 7 0 .4 1 2 .3 1 6 .2 7138.1 426 M i n i n g & M et als Foreig n - Vesu vi u s 148
719 951 TTK Heal t h car e, Chennai 1373.2 1 1 0 .1 6 7 4 .7 9 5 8 .6 639.7 1 4 3 8 .1 187 9 4 9 .0 1 9 1 .8 577 985.4 1 7 4 . 6 723 1 4 .1 0 .0 1 2 3 .4 2 0 .0 1 7 .0 1 6 8 . 1 1 0 0 .4 1 0 .0 1824.5 745 Ph ar m aceu t i cal s TTK 538
720 783 Zuari In d u st ries, Panaji 1366.6 3 9 .0 5 8 9 .6 1 4 3 .2 306.3 *** 325 2 3 4 9 .3 - 1 9 . 7 305 5058.4 - 7 .2 246 3 .0 1 .4 8 9 .7 2 2 .5 8 .6 - 1 1 .6 1 0 .7 480.5 917 Fert ilizers Ad ven t z 950
721 675 M cleo d Russel In d i a, Kolkata 1365.5 2 .7 - 8 2 3 .0 ** - 1056.5 * 987 3 0 7 .0 7 7 .7 860 2608.6 - 3 1 .4 390 7 2 2 .3 1 3 .4 - 3 6 .9 231.2 966 Co n su m er St ap l es In d i an Privat e 980
722 - Her an b a In d u st r i es, Mumbai 1364.4 - 1 6 8 .3 - 104.4 - 590 8 1 0 .4 - 621 912.4 - 752 5 .0 6 7 .1 3 3 .2 1 2 .9 1 6 .0 1440.7 784 Agro Chem icals In d i an Privat e 603
723 667 Un i ch em Lab o rat o ries, Mumbai 1364.3 0 .4 - 4 5 .6 ** - 202.2 ** 954 2 4 3 5 .3 - 7 .0 295 2792.3 7 .3 370 2 8 .2 0 .0 3 5 6 .4 7 .8 2 5 .9 - 7 .1 - 4 .5 2946.4 627 Ph ar m aceu t i cal s In d i an Privat e 781
724 702 Transf o rm ers & Rect if iers, Ahmedabad 1361.2 1 1 .3 1 2 9 .6 5 4 .5 40.7 1 9 1 .0 770 3 8 5 .6 1 0 .2 816 734.9 6 .5 824 2 .0 0 .0 4 1 .2 2 6 .9 1 4 .7 6 3 .2 1 1 .3 1 4 .7 2611.4 658 Capit al Goods In d i an Privat e 738
725 701 VST In d u st r i es, Hyderabad 1360.1 1 0 .8 4 5 9 .1 0 .2 327.0 2 .1 311 1 1 7 9 .7 9 .8 502 1201.2 9 .5 652 2 3 1 .6 7 .1 1 2 0 .3 3 .4 1 0 1 .9 - 5 .6 2 9 .0 3 7 .3 5080.9 502 Co n su m er St ap l es In d ep en d en t 175
726 647 Bh an sal i En g i n eer i n g Po l ym er s, Mumbai 1358.3 - 6 .1 2 0 6 .7 - 5 7 .2 136.8 - 6 0 .9 509 1 0 6 8 .0 525 1069.8 8 .8 694 2 8 2 .0 4 6 6 .7 4 6 .8 - 3 5 .6 5 8 .9 - 5 2 . 0 1 3 .4 1 9 .2 2330.0 692 Pet ro chem icals & Plast ics In d i an Privat e 191
727 685 Dyn am at i cTech n o l o g i es, Bengaluru 1354.1 7 .3 1 9 3 .5 1 8 .2 42.8 1 7 6 .6 760 5 4 2 .0 4 2 .1 745 1335.6 2 1 .4 626 4 .8 2 5 3 .4 - 1 .0 1 2 .4 3 0 .0 9 .3 1 0 .1 2940.1 628 Capit al Goods In d i an Privat e 883
728 711 Everead y In d u st r i es, Kolkata 1352.5 1 2 .6 1 1 8 .7 - 4 .3 27.6 - 4 0 .6 810 3 1 9 .4 1 0 .1 850 725.4 4 .4 828 1 4 6 .6 - 1 .2 7 .0 2 5 8 .7 8 .4 1 2 .4 2595.0 661 Co nsum er Durab les Kh ai t an B M 782
729 754 Si n d h u Trad e Links, Delhi/ NCR 1350.5 2 5 .5 2 0 9 .3 5 6 .2 0.4 891 8 1 1 .0 1 .3 620 3197.7 1 0 .0 341 6 5 .6 - 2 4 .0 2 0 .2 2 1 4 . 7 0 .0 5 .1 4115.2 546 Transp o rt & Logistics In d i an Privat e 982
730 774 TCNS Clo t hing Co ., Delhi/ NCR 1343.1 3 3 .3 1 4 1 .6 1 3 .9 - 17.6 907 6 1 1 .7 - 1 .3 715 1181.9 1 1 .5 656 1 8 6 .7 2 4 .3 - 1 3 .7 - - 2 .9 1 .9 2337.7 691 Text ile & Gar m en t s In d i an Privat e 940
731 564 Everest Ka nt o Cylind er, Mumbai 1338.0 - 2 2 .4 1 4 8 .9 - 6 4 .6 76.1 - 7 1 .3 664 9 9 8 .7 1 0 .7 552 1137.9 8 .5 672 7 .9 0 .0 1 1 0 .0 9 .4 1 8 .8 - 8 2 . 4 9 .3 1 1 .5 1418.8 788 Packag in g In d i an Privat e 522
732 901 Safari In d u st r i es, Mumbai 1328.8 7 9 .7 2 0 6 .3 2 8 2 .6 125.1 4 5 9 .2 531 4 2 5 .7 4 1 .4 790 565.1 5 8 .5 892 8 .3 3 6 3 .7 8 5 .8 2 9 .2 4 0 .0 4 9 2 .9 3 4 .4 3 7 .5 10099.7 334 Pet ro chem icals & Plast ics In d i an Privat e 378
733 691 Gar w ar eTech n i cal Fib res, Pune 1319.0 6 .0 2 5 7 .4 3 .6 172.2 4 .5 459 1 0 1 6 .4 4 .7 546 1164.8 9 .5 664 7 .1 - 5 0 .6 1 6 6 .9 1 1 .4 5 1 .0 - 1 .3 1 7 .3 2 1 .1 6595.6 446 Text ile & Gar m en t s Ga r w a r e SB 302
734 757 Tr i ven i Tu r b i n e, Bengaluru 1318.2 2 4 .1 2 7 7 .9 - 2 8 .4 192.6 - 2 8 .7 429 7 5 9 .4 1 1 .3 651 773.4 - 1 0 .7 816 1 2 8 .5 2 4 .9 6 2 .6 - 3 3 . 8 2 3 .9 3 1 .5 12640.1 286 Capit al Goods Triveni 78
735 739 Sy m p h o n y , Ahmedabad 1313.9 1 7 .4 1 9 0 .0 - 5 .9 116.4 - 3 .2 564 8 8 0 .9 5 .6 598 1123.6 1 .8 678 3 5 .0 - 4 4 .5 1 2 4 .0 7 .0 3 6 .1 - 2 2 . 7 1 3 .5 1 4 .7 5987.2 470 Co nsum er Durab les In d i an Privat e 400
736 844 Ku an t u m Pap ers, Chandigarh 1312.7 5 7 .5 3 1 9 .9 1 5 8 .1 136.2 9 1 4 .5 511 9 6 6 .8 1 6 .4 569 1508.6 - 6 .7 574 2 6 .2 - 6 9 .2 1 6 .0 1 9 .9 2 1 .6 1548.8 769 Pap er In d i an Privat e 653
737 837 Vi sh n u Prakash R Pu n g l i a, Jodhpur 1307.2 5 2 .2 1 5 9 .7 8 0 .1 90.6 1 0 2 .1 628 3 1 4 .5 9 8 .2 853 565.8 6 8 .3 890 2 6 .5 7 7 .2 3 1 .8 1 0 4 .8 3 8 .3 3 3 .9 2505.2 670 Co nst ruct io n & Inf rast ruct ure In d i an Privat e 709
738 773 M o nt e Carlo Fash io n s, Ludhiana 1300.1 2 8 .8 2 4 0 .3 1 7 .0 132.5 1 6 .3 519 7 7 6 .4 1 3 .0 640 1170.3 3 4 .7 660 4 1 .5 0 .0 9 6 .6 1 9 .0 3 9 .7 3 .0 1 8 .1 1 9 .5 1525.9 773 Text ile & Gar m en t s N ah ar Gro up 838
739 819 Bilcare, Pune 1294.5 4 3 .8 2 9 3 .9 1 8 2 .7 15.1 850 3 3 .0 953 1173.0 4 8 .3 659 6 2 .6 5 .6 1 4 5 .9 - 8 .3 2 .8 180.0 974 Packag in g In d i an Privat e 992
740 768 IFBAg ro In d u st ries, Kolkata 1287.5 2 4 .4 8 8 .6 - 2 .5 49.1 - 1 6 .1 743 5 4 8 .4 9 .4 741 572.7 8 .6 886 6 1 .0 1 1 .9 1 8 .7 2 7 .0 9 .4 1 2 .7 455.8 920 Dist illers & W i n er i es IFB 230
741 764 Trig yn Tech n o lo g ies, Mumbai 1286.5 2 3 .3 6 7 .3 - 1 .5 34.7 - 1 1 .2 794 6 8 1 .0 1 2 .1 686 695.0 1 2 .0 841 8 1 1 .6 1 3 .3 2 3 .6 1 9 .2 5 .4 9 .2 387.1 931 Tech n o l o g y- So f t w ar e In d i an Privat e 650
742 658 Bh ar at Rasay an , Delhi/ NCR 1285.0 - 8 .3 2 0 6 .1 - 2 2 .5 124.6 - 2 9 .2 534 8 9 3 .3 1 6 .0 590 922.6 - 2 .4 746 0 .6 0 .0 6 6 .6 2 .2 4 9 .4 - 1 4 .4 1 5 .0 1 9 .3 3764.8 568 Agro Chem icals In d i an Privat e 169

743 631 Dollar In d u st ries, Kolkata 1284.2 - 1 4 .6 9 8 .4 - 5 6 .3 52.5 - 6 4 .3 730 7 0 5 .7 5 .2 676 887.2 0 .0 763 1 7 .0 0 .0 7 6 .9 2 0 .3 1 3 .2 - 7 4 .2 7 .6 9 .1 2452.0 674 Text ile & Gar m en t s In d i an Privat e 418

744 752 M u n j al Sh o w a , Delhi/ NCR 1279.8 1 8 .7 5 4 .2 1 0 3 .8 31.9 1 6 2 .6 798 6 5 1 .2 2 .2 697 661.2 2 .1 854 1 8 .0 0 .0 1 0 7 .5 - 4 .3 1 0 .3 4 9 4 .2 3 .5 4 .6 555.2 904 Au t o An ci l l ar i es M u n j al (Hero ) 289

745 787 N elcast , Chennai 1279.2 3 1 .1 9 5 .5 4 1 .5 29.7 1 0 9 .1 803 4 6 5 .7 6 .1 778 772.1 7 .1 817 3 .5 3 3 .3 6 4 .3 1 5 .0 1 0 .6 1 1 9 .5 6 .5 9 .6 1453.8 780 Au t o An ci l l ar i es In d i an Privat e 630

746 723 St o ve Kraf t , Bangalure 1276.8 8 .7 9 7 .1 3 .3 35.8 - 3 6 .4 792 4 0 3 .4 1 0 .8 801 634.1 3 5 .6 862 1 4 2 .9 2 7 .2 1 1 .5 8 2 .1 8 .5 1 1 .2 1680.3 759 Co nsum er Durab les In d i an Privat e 667

747 862 Ti l akn ag ar In d u st r i es, Mumbai 1266.6 5 7 .8 2 2 2 .4 6 3 .8 149.9 2 3 1 .7 487 4 8 2 . 9 2 6 1 .7 768 806.8 3 .7 794 4 .6 1 9 1 .2 3 7 .6 1 7 .1 0 .0 1 2 .1 1 0 .4 4598.2 520 Dist illers & W i n er i es In d i an Privat e 756
642 7 3 6 .7 1 0 .0 665 738.8 1 0 .0 823 1 2 7 .1 8 .2 1 3 .7 1 8 .8 648 Fo r ei g n - H o n d a
748 718 Ho n d a Ind ia Po w er , Delhi/ NCR 1265.8 6 .6 1 3 6 .8 1 4 .5 85.1 1 4 .2 1 6 .7 1 0 .0 3 0 .3 1 8 .7 2688.5 Capit al Goods 87
801 7 9 1 .7 3 .8 632 1429.6 3 .4 598 1 4 3 .8 1 6 .1 3 .9 8 .7 796 In d i an Privat e
749 772 HPL El ect r i c& Po w er , Delhi/ NCR 1264.3 2 5 .1 1 6 0 .4 2 4 .0 30.2 2 8 8 .4 6 .4 5 6 9 .8 1 6 .4 1 6 8 .2 1348.2 Capit al Goods 932
508 7 4 3 .4 1 9 .6 662 1603.0 2 4 .2 558 5 4 .6 - 8 .7 2 0 .1 4 .2 875 Si n g h an i a Deep ak
750 713 Ester In d u st r i es, Delhi/ NCR 1255.2 4 .8 2 2 9 .4 - 0 .6 136.9 0 .1 4 .2 - 8 4 .8 1 2 .2 - 6 2 .1 748.3 Packag in g 949
749 906 In d i an Privat e
751 738 In d - Sw i f t Lab o rat o ries, Chandigarh 1253.2 1 1 .7 2 3 6 .1 - 1 .3 47.6 4 9 8 .5 2 3 .2 761 1561.9 - 0 .6 567 1 3 5 .8 6 .9 3 8 .7 1 6 3 .6 1 3 .2 1 4 .8 545.3 Ph ar m aceu t i cal s 959
735 818 MAC
752 566 M an al i Pet r o ch em i cal s, Chennai 1252.9 - 2 6 .0 1 0 2 .4 - 8 1 .0 50.7 - 8 6 .7 1 0 4 4 .4 1 .4 533 1132.3 0 .9 675 1 2 .9 - 7 0 .0 5 4 .7 - 9 .9 1 9 .3 - 8 5 .1 4 .9 7 .0 1183.6 Pet ro chem icals & Plast ics 388
753 824 Bar b eq u e- N at i o n Ho sp it alit y, Bengaluru 1248.8 4 0 .7 2 4 2 .4 5 1 .0 17.0 844 3 9 2 .9 4 .3 812 1097.1 9 .0 689 2 6 7 .6 4 1 .9 6 .6 3 .3 8 .1 2604.7 659 H o t el s& Rest au r an t s D h am an i 869
754 - TCI Exp ress, Delhi/ NCR 1248.2 - 2 0 1 .7 - 139.3 504 5 9 6 .4 - 719 603.4 877 3 0 .6 - 1 2 4 .3 4 5 .3 2 3 .4 3 0 .9 5293.2 494 Transp o rt & Logistics In d i an Privat e 63
755 734 Proct er & Gam b l e Heal t h , Mumbai R R 1245.2 1 0 .0 3 4 3 .1 2 2 .1 229.5 1 9 .2 391 7 5 0 .9 2 1 .8 659 800.4 2 1 .4 797 1 0 2 .1 1 7 .1 2 0 6 .2 2 3 .0 8 4 .7 3 9 .2 3 3 .6 4 3 .2 8426.9 383 Ph ar m aceu t i cal s Foreig n - M er ck 105
756 669 Den N et w o r ks, Delhi/ NCR 1242.6 - 7 .7 2 6 4 .0 - 1 8 .1 242.9 3 8 .0 375 3 1 5 8 .7 9 .2 244 3279.8 8 .2 328 8 3 .3 - 1 .8 - 9 3 .1 4 .7 2 .4 2544.8 663 M ed ia & En t er t ai n m en t M u k e sh A m b an i 772
184.0 448 1 0 4 9 .0 4 2 .5 530 1414.7 4 3 .5 604 1 6 2 .7 1 3 .4 5 2 .1 2 0 .6 2 1 .3 6567.8 448 In d i an Privat e 543
757 785 Tega In d u st r i es, Kolkata 1240.5 2 6 .6 2 9 6 .5 4 0 .5 5 7 .4 1 3 .3 3 6 .8 M iscellan eo u s
183.3 450 1 5 4 2 .4 1 5 .0 413 4444.0 1 1 .8 271 1 5 1 .1 5 1 .1 8 9 .5 1 0 .9 9 .1 292 In d i an Privat e 930
758 - Chalet Ho t els, Mumbai 1238.7 1 3 3 .3 5 4 4 .6 3 9 7 .8 12321.6 H o t el s& Rest au r an t s
245. 8 - 6 8 . 9 372 3 9 5 .1 1 7 5 .4 809 796.3 - 0 .9 799 3 2 .3 2 .5 - 5 7 .0 1 2 .4 - 1 .0 981 In d i an Privat e 696
759 579 Tu lsyan NEC, Bengaluru 1238.4 - 2 5 .3 2 2 9 .6 - 7 2 .1 150.5 M i n i n g & M et als
- 30.9 918 - 2 2 2 .9 967 916.3 - 8 .4 750 8 4 .5 1 0 .4 0 .2 986 In d i an Privat e 990
760 717 Si m b h ao l i Su g ars, Delhi/ NCR 1235.6 4 .0 2 6 .8 - 3 7 .3 * 6 .1 123.1 Sug ar
463.0 239 305 In d i an Privat e 848
761 870 Aegis Logist ics, Mumbai 1232.9 5 6 .5 8 5 8 .8 4 9 .8 2 9 .5 3 0 1 7 .9 4 3 .9 250 5513.8 7 9 .6 231 2 0 1 .8 1 3 0 .0 8 2 .5 2 4 .7 1 3 4 .1 5 4 .0 1 7 .9 1 7 .1 11690.1 Trad ing
886 998 In d i an Privat e 558
762 - KKVAg ro Po w er s, Coimbatore 1230.9 1 6 3 .8 5 .5 2 3 .4 1.2 0 .0 2 0 .7 4 .4 955 35.2 3 4 .9 998 0 .6 9 3 .5 1 .1 4 8 .1 1 .1 2 6 .5 5 .7 1 2 .1 36.9 Po w er
727 613 In d i an Privat e 805
763 825 KDDL, Chandigarh 1230.8 3 9 .1 1 8 7 .6 4 6 .8 53.6 6 7 .7 2 1 0 .4 8 .2 901 706.7 3 5 .7 832 2 .5 - 3 4 .5 1 7 4 .0 4 4 .5 3 0 .6 1 0 2 .9 2 1 .7 2 2 .5 3161.7 Co nsum er Durab les
614 405 In d i an Privat e 295
764 920 Dom s In d u st r i es, Umbergaon 1222.0 7 6 .3 1 9 1 .3 1 6 4 .4 95.8 5 6 7 .2 3 1 9 .5 3 5 .2 849 486.4 2 8 .7 914 1 4 1 .8 3 9 .8 3 5 .9 4 2 0 .9 3 5 .2 3 4 .9 7872.1 Pr i n t i n g & St at i o n er y
767 855 In d i an Privat e 118
765 977 D P W ires, Indore 1221.7 9 8 .3 6 0 .8 4 0 .1 41.0 4 1 .2 1 9 1 .5 2 6 .1 909 193.7 1 7 .1 981 1 .6 1 9 .9 7 .8 3 .8 1 4 .3 4 6 .6 2 3 .9 3 1 .9 916.3 M i n i n g & M et als
684 684 In d i an Privat e 899
766 761 Gan esh a Eco sp here, Kanpur 1221.5 1 6 .6 1 4 1 .1 1 6 .8 69.5 1 2 .1 6 3 7 .9 1 1 .2 707 1166.5 2 2 .3 662 4 .4 0 .0 6 7 .2 1 6 .1 2 5 .5 2 3 .3 1 1 .5 1 0 .6 2392.8 Text ile & Gar m en t s
582 556 Kirlo skars 207
767 756 Kirlo skar Pn eu m at i c Co, Pune 1219.5 1 4 .5 1 7 8 .8 1 6 .6 108.6 2 7 .9 7 9 5 .2 2 0 .8 629 802.9 2 0 .6 795 3 5 .6 3 7 .9 1 4 3 .7 1 1 .0 3 4 .7 1 8 .8 1 4 .9 1 9 .8 3887.7 Capit al Goods
472 468 In d i an Privat e 504
768 794 N eu l an d Lab o rat o ries, Hyderabad 1210.5 2 5 .0 2 8 1 .6 9 4 .6 163.5 1 5 6 .2 9 9 3 .3 1 8 .3 556 1132.9 3 .7 674 1 2 .9 1 0 0 .0 2 0 1 .8 1 0 .6 5 2 .2 1 8 4 .8 1 7 .8 2 0 .6 6007.9 Ph ar m aceu t i cal s
616 243 In d i an Privat e 740
769 911 Kayn esTech n o l o g y In d i a, Mysore 1205.2 6 8 .8 1 8 1 .3 8 2 .6 95.2 1 2 8 .4 9 5 7 .7 3 7 6 .3 572 1118.8 1 8 2 .6 682 7 7 .1 2 8 .0 3 0 .8 7 7 .6 1 6 .4 2 1 .5 15952.1 Co nsum er Durab les
405 318 In d i an Privat e 695
770 779 Rai n b o w Child rens M ed icare, Hyderabad 1204.4 2 1 .3 4 3 0 .4 3 1 .7 210.8 5 2 .5 1 0 5 4 .9 7 9 .3 529 1637.3 3 7 .7 550 3 0 .5 6 1 .9 1 4 4 .1 2 4 .1 6 9 .4 4 2 .6 2 5 .7 2 4 .1 11010.0 Healt hcare

Direct t a x i n cl u d e s d i v i d e n d d i st r i b u t i o n t a x ; Fig ures i n ~ cr o r e; Al l % CHG ar e y e a r - o n - y e a r ; * * * Tu r n ed f r o m loss t o p r o f i t ; * * Pro f it to l o ss; * Loss i n b o t h year s

48 M arch 202 4 23
RANKED BY TOTAL REVENUES EH1000
RANK COMPANY, CITY yutsrponmlkjihgedcbaYVTSRPNMLKIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
2023 2022 FY23 %CHG FY23 %CHG FY23 %CHG RANK FY23 %CHG RANK FY23 % CHG RANK FY23 %CHG FY23 % CHG FY23 % CHG % % ~ CR RANK RANK

- 451
771 815 Hap p y Fo rg ing s, Ludhiana 1199.0 3 1 .2 3 4 6 .7 4 6 .3 208.7 4 6 .7 408 9 8 8 .3 2 5 .5 559 1206.8 1 7 .4 651 1 1 .6 8 7 .8 2 7 .8 7 1 .3 4 3 .3 2 3 .5 2 6 .2 9664.9 345 Capit al Go o d s In d i an Privat e
801
772 747 Gu l sh an Po lyo ls, Delhi/ NCR 1197.2 8 .4 9 5 .1 - 3 7 .5 45.2 - 4 7 .0 754 5 7 4 .9 7 .4 729 828.4 2 7 .0 784 2 .6 - 7 5 .0 3 2 .7 - 1 0 .0 1 5 .0 - 4 9 .2 8 .1 9 .0 1320.7 800 Chem icals In d i an Privat e
332
773 753 Ro l ex Rin g s, Rajkot 1184.4 1 0 .0 2 8 0 .0 1 6 .5 198.1 5 0 .2 421 7 4 3 .0 3 6 .4 663 845.6 7 .2 778 - - 5 9 .2 0 .7 4 5 .2 - 2 7 .7 3 0 .8 3 1 .0 6273.7 459 Aut o An cillaries In d i an Privat e
999
774 - SKIL In f rast ru ct u re, Mumbai 1179.1 1 6 9 0 . 3 1 1 7 3 .1 2 5 7 4 .6 1117.0 123 1 8 0 .5 - 914 2242.8 6 .7 436 - - 1 .1 - 4 .4 - - - 3 .1 0 .1 118.1 987 Co nst ruct io n & Inf rast ruct ure In d i an Privat e
481
775 786 Po ly M ed i cu r e, Delhi/ NCR 1177.0 2 0 .3 3 0 5 .5 1 9 .6 179.3 2 2 .4 455 1 2 4 1 .6 1 4 .2 486 1398.6 1 4 .4 607 2 8 .8 2 0 .0 2 0 2 .8 2 3 .9 5 8 .2 1 9 .4 1 5 .4 1 9 .0 14103.0 264 Healt h care In d i an Privat e
810
776 775 Th e Hi- Tech Gears, Delhi/ NCR 1169.7 1 6 .2 1 4 9 .3 6 6 .5 23.1 827 3 5 4 .4 7 .2 835 816.5 1 .3 789 4 .7 6 6 .3 2 1 8 .4 1 .6 1 0 .8 - 9 .8 6 .8 8 .3 802.7 868 Aut o An cillaries In d i an Privat e
73
777 801 In g er so l l - Ran d (In d i a), Bengaluru 1168.6 2 3 .1 2 6 5 .0 6 0 .6 182.6 6 5 .8 453 5 7 8 .0 4 .7 726 586.3 4 .2 882 1 5 7 .9 1 5 0 .0 1 1 1 .0 6 .0 6 3 .7 6 6 .6 3 2 .3 4 3 .3 9357.5 354 Capit al Go o d s Fo r ei g n - In g er so l l Ran d
617
778 851 Dred g ing Co rp o rat io n, Vishakapatnam 1168.0 4 2 .4 1 7 8 .2 3 0 .0 12.6 2 5 1 .8 861 1 4 2 2 .6 1 .1 441 1730.4 1 .2 532 - - 9 6 .0 1 .3 1 .3 6 .7 0 .9 2 .5 1434.3 785 Sh i p p i n g Govt o f Ind ia
597
779 832 In d i am ar t In t er m esh , Delhi/ NCR 1165.9 3 4 .7 4 1 0 .5 0 .7 283.8 - 4 .6 342 2 0 5 8 .5 9 .8 339 2580.2 1 2 .9 395 6 1 .2 9 0 1 .0 4 2 4 .7 5 8 .8 8 7 .5 - 5 .8 1 4 .4 1 5 .6 16532.3 238 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e
498
780 684 M et ro p o lis H eal t h car e, Mumbai 1163.4 - 7 .8 3 0 8 .6 - 1 9 .1 142.9 - 3 3 .3 494 9 8 5 .8 1 1 .5 561 1268.2 - 0 .7 636 4 1 .0 0 .1 2 5 2 .7 8 .4 4 4 .1 - 4 3 .9 1 5 .3 1 7 .2 8074.8 399 Healt h care In d i an Privat e
811
781 955 N azara Tech n o lo g ies, Mumbai 1158.8 7 9 .1 1 4 9 .8 3 6 .1 39.4 3 8 .7 776 8 9 3 .2 1 .0 591 1148.3 9 .3 669 - - 1 4 9 .0 6 9 .1 2 5 .4 3 2 .3 5 .7 8 .4 5464.3 487 Tech n o l o g y- So f t w ar e In d i an Privat e
656
782 780 NRB Bear i n g s, Mumbai 1145.2 1 5 .9 1 8 9 .5 2 0 .7 94.0 2 8 .3 620 6 5 3 .1 1 3 .5 696 997.7 1 1 .8 718 9 .7 - 5 0 .0 1 6 0 .0 2 .7 3 1 .5 2 1 .3 1 5 .3 1 5 .7 2650.2 654 Aut o An cillaries In d i an Privat e
879
783 762 M ishra Dh at u N ig am , Hyderabad 1138.4 8 .9 2 9 6 .9 0 .6 156.3 - 1 1 .5 479 1 2 8 5 .4 8 .1 474 2362.3 7 .6 417 - - 1 2 4 .0 2 .2 6 0 .7 - 3 .4 1 2 .6 1 0 .7 7452.2 414 M i n i n g & M et als Govt o f Ind ia
926
784 709 B.L.Ka sh y a p & So n s, Delhi/ NCR 1136.2 - 5 .5 8 1 .8 - 3 7 .6 22.1 - 4 9 .6 831 4 4 4 .7 5 .1 784 873.1 - 1 0 .6 767 - - 1 8 7 .6 3 .2 - 1 .5 - 1 0 .0 1 1 .7 1483.4 776 Co nst ruct io n & Inf rast ruct ure In d i an Privat e
591
785 538 Kiri I n d u st r i e s, A h m ed a b a d 1133.9 - 4 0 .0 1 7 7 .5 - 6 1 .3 106.7 - 7 2 .6 586 2 6 7 9 .3 4 .1 277 2733.8 2 .1 374 - - 5 1 .0 - 1 5 .3 1 5 .6 1 .4 4 .1 4 .8 1536.1 771 Chem icals In d i an Privat e
503
786 781 Precisio n Cam sh af t s, Solapur 1132.6 1 5 .1 1 4 3 .7 - 1 0 .3 46.3 0 .6 752 7 1 6 .5 5 .1 672 827.0 - 1 .3 785 9 .5 - 9 .1 1 7 9 .0 1 3 .0 1 4 .0 - 6 .2 6 .6 8 .2 2395.2 683 Aut o An cillaries In d i an Privat e
608
787 778 Pitti En g i n eer i n g , Hyderabad 1131.7 1 3 .9 1 6 9 .2 1 3 .5 58.8 1 3 .4 713 3 3 4 .0 1 7 .7 840 698.6 2 .1 837 8 .7 3 3 .4 8 4 .7 1 0 .7 2 1 .1 1 2 .8 1 9 .0 1 8 .0 2183.5 705 Capit al Go o d s In d i an Privat e
765
788 997 Olect ra Gr een t ech , Hyderabad 1130.5 9 0 .3 1 5 4 .0 6 9 .4 65.6 8 5 .5 696 8 3 8 .4 7 .9 609 997.5 1 5 .7 719 3 .3 0 .0 5 2 .6 5 8 .3 2 2 .5 3 3 .0 8 .3 1 3 .0 9827.5 339 Au t o m o b i l e In d i an Privat e
989
789 891 Jyot i CN CAu t o m at io n , Rajkot 1130.0 5 0 .8 1 5 1 .2 9 8 .3 15.1 849 8 2 .1 9 9 .4 944 929.8 1 0 .0 741 - - 1 6 6 .2 1 7 .2 1 2 .8 9 5 .3 - 1 .5 9 .1 1000 Capit al Go o d s In d i an Privat e
833
790 746 Tat a Teleservices (M ah ), Mumbai 1122.9 1 .1 5 0 4 .0 4 .0 - 1144.7 988 - 1 9 0 5 4 .5 - 998 830.8 - 1 5 .0 783 - - 6 1 .9 1 2 .5 - - - - 17866.6 231 Tel eco m m u n i cat i o n s Tata
976
791 910 Coffee Day En t erp rises, Bengaluru 1121.0 5 6 .9 - 1 3 4 .2 ** - 379.8 971 3 0 5 9 .7 - 1 0 .9 248 5066.8 - 9 .7 244 - - 1 3 5 .2 - 9 .4 4 .8 7 0 .2 - 1 2 .8 - 6 .4 1068.2 830 Hot els & Rest au r an t s In d i an Privat e
703
792 929 Delt a Corp, Mumbai 1116.2 6 3 .3 4 1 2 .3 1 4 3 .5 261.4 2 9 0 .2 359 2 2 1 6 .9 9 .7 325 2291.2 1 0 .7 430 3 3 .5 0 .1 1 5 8 .5 2 9 .1 6 7 .0 1 2 5 .1 1 2 .4 1 6 .2 3691.7 572 M ed ia & En t er t ai n m en t In d i an Privat e
465
793 676 Beek aySt eel In d u st r i es, Kolkata 1113.0 - 1 6 .0 1 8 0 .3 - 2 5 .0 105.0 - 3 3 .4 587 8 1 0 .2 1 4 .6 622 1057.7 7 .5 697 1 .9 0 .0 3 6 .8 7 .1 3 9 .3 - 1 9 .7 1 3 .8 1 5 .0 1288.0 804 M i n i n g & M et als In d i an Privat e
123
794 822 In d r ap r ast h a M ed ical Corp, Delhi/ NCR 1108.7 2 4 .4 1 6 0 .7 3 6 .9 86.2 4 7 .0 641 3 7 9 .5 1 6 .6 819 408.0 1 7 .3 935 2 7 .5 2 0 .0 2 4 6 .7 1 5 .3 3 1 .0 5 1 .7 2 4 .4 3 2 .1 1706.6 756 Healt h care Ap o llo Ho sp it als
246
795 798 Kaveri Seed Co m p an y, Hyderabad 1108.6 1 6 .3 3 0 6 .6 2 5 .8 271.7 2 7 .9 347 1 3 6 2 .8 6 .5 460 1397.8 6 .5 608 2 2 .4 - 4 .1 9 8 .3 7 .8 1 3 .3 3 3 .2 1 6 .4 1 6 .7 3418.5 590 Agro Chem icals In d i an Privat e
44
796 816 Esab In d i a, Chennai 1106.9 2 1 .2 1 9 4 .7 5 5 .1 135.7 6 0 .9 512 2 6 0 .3 6 .6 883 270.9 7 .2 964 1 2 0 .0 3 0 .0 9 6 .9 2 .2 4 6 .6 5 9 .4 5 3 .8 6 9 .8 8833.5 369 Capit al Go o d s Foreign - Esab
587
797 795 SPA p p ar e l s, Tamil Nadu 1103.4 1 5 .2 1 6 5 .5 2 .7 82.5 - 2 .6 647 6 8 0 .1 5 .6 687 928.9 5 .2 742 7 .5 - 2 3 8 .7 2 5 .4 2 8 .3 - 6 .1 1 2 .6 1 4 .3 1481.3 777 Text ile & Gar m en t s In d i an Privat e
324
798 793 Ap co t ex In d u st r i es, Mumbai 1102.9 1 3 .3 1 6 5 .8 1 2 .3 107.9 9 .2 583 4 7 6 .0 2 0 .2 772 638.2 4 0 .1 861 2 8 .5 1 0 .0 5 6 .4 1 0 .9 3 7 .6 1 9 .1 2 4 .8 2 7 .5 2655.9 653 Chem icals In d i an Privat e
218
799 830 Gr au e r & W e i l , Mumbai 1100.8 2 5 .9 1 7 4 .3 3 4 .4 113.0 4 3 .4 574 6 7 9 .2 1 6 .6 689 742.1 1 5 .8 822 1 8 .1 2 3 .1 9 4 .0 1 5 .1 3 9 .0 3 9 .1 1 7 .9 2 2 .3 2794.2 638 Chem icals M ore
354
800 705 Excel In d u st r i es, Mumbai 1099.2 - 9 .4 1 4 0 .5 - 4 3 .1 79.9 - 5 0 .4 655 1 2 4 1 .8 8 .0 485 1257.6 7 .4 642 1 4 .2 - 5 0 .0 1 0 4 .9 - 1 .2 2 5 .8 - 5 0 .6 6 .7 9 .0 1087.1 827 Agro Chem icals Excel Sh ro f f
367
801 813 Bo ro sil, Mumbai 1098.0 1 9 .8 1 6 0 .5 2 .2 89.9 7 .3 633 8 4 7 .2 1 2 .8 607 971.9 2 6 .0 725 - - 1 2 2 .4 1 9 .1 2 8 .6 - 2 2 .1 8 .5 1 0 .8 4420.4 529 Co nsum er Durab les B L Kh u r ek a 888
802 916 Fo o d s & In n s, Mumbai 1097.8 5 5 .1 1 0 8 .8 8 8 .5 47.4 2 1 0 .1 750 3 1 2 .3 5 8 .8 854 655.6 5 6 .0 856 2 .6 1 0 2 .4 4 0 .5 3 1 .9 1 7 .2 1 0 7 .4 1 8 .6 1 7 .6 965.3 842 Food Pro cessing Ch am p akl al 663
803 - Scan St eels, Sundergarh 1097.1 1 1 .3 5 5 .0 - 3 7 .7 15.3 - 6 9 .8 847 3 6 6 .0 4 .3 829 478.4 4 .7 915 - - 3 0 .3 1 0 .6 6 .7 - 5 5 .7 3 .4 8 .0 325.4 946 M i n i n g & M et als In d i an Privat e 995
804 853 Cap rih an s In d i a, Mumbai 1094.4 3 4 .1 1 9 8 .2 1 8 7 .4 71.8 * 675 - 2 8 2 .1 - 969 1197.9 2 0 1 .4 653 - - 6 7 .4 1 8 .4 3 3 .6 4 7 4 .8 7 .4 7 .9 284.4 955 Pet ro ch em icals & Plast ics M N CAsso ciat e 986
805 544 Sad b h av I n f r a Pr o j e c t s, A h m ed a b a d 1093.1 - 4 0 .5 2 4 7 .5 - 7 2 .8 - 375.1 970 - 9 2 .8 - 962 6063.1 - 1 2 .0 215 - - 2 9 .0 - 6 .7 - 2 0 .6 - - - 163.6 978 Co nst ruct io n & Inf rast ruct ure Sad b h av Gr o u p 731
806 908 Vad ilal In d u st r i es, Ahmedabad 1089.1 5 1 .0 1 7 6 .3 6 4 .5 96.3 1 1 5 .4 612 3 2 1 .7 4 5 .1 848 697.7 4 1 .7 839 1 .1 2 0 .0 9 4 .0 3 6 .6 3 4 .3 7 9 .1 3 5 .4 2 8 .2 1765.8 750 Co n su m er St ap l es Vad ilal 390
807 805 Ind ig o Pain t s, Pune 1085.0 1 6 .5 1 9 1 .6 3 0 .4 131.9 5 7 .0 523 7 7 6 .1 1 9 .4 641 795.5 1 8 .4 800 1 6 .7 1 6 .7 7 3 .1 2 9 .8 2 3 .9 - 2 0 .8 1 8 .5 2 1 .4 6998.2 430 Co n su m er St ap l es In d i an Privat e 552
808 572 Ru p a & Co m p an y, Kolkata 1079.9 - 3 5 .3 1 0 5 .7 - 6 2 .2 53.7 - 7 2 .0 725 9 1 1 .8 3 .4 586 1173.2 - 6 .4 658 2 3 .9 0 .0 5 8 .4 - 1 4 .3 1 5 .5 - 7 1 .7 6 .0 7 .6 2095.1 713 Text ile & Gar m en t s In d i an Privat e 490
809 748 Elin Elect ro nics, Delhi/ NCR 1079.5 - 1 .8 6 7 .4 - 1 5 .7 26.8 - 3 1 .6 812 4 9 3 .1 6 2 .7 763 572.4 4 0 .8 887 5 .0 1 6 .7 1 2 8 .8 2 .9 8 .9 - 3 5 .0 6 .7 1 0 .0 799.0 869 Co n su m er Du r ab l es In d i an Privat e 92
810 861 Ast razen eca Ph ar m a In d i a, Bengaluru 1077.9 3 3 .8 1 5 1 .0 4 9 .6 99.3 6 1 .2 604 5 8 8 .7 1 5 .1 721 604.5 1 4 .6 876 4 0 .0 6 0 .0 2 5 9 .1 1 2 .5 3 4 .8 6 2 .4 2 3 .0 3 0 .5 11892.9 301 Ph ar m aceu t i cal s Fo reig n - Ast raZen aca 707
811 706 Resp o n si ve In d u st r i es, Mumbai 1075.2 - 1 0 .9 1 2 6 .0 - 5 .6 24.0 824 9 6 8 .3 3 .7 568 1266.4 4 .7 638 2 .7 0 .0 2 3 .0 3 8 .3 4 .0 - 6 0 .8 2 .5 4 .6 8622.8 376 Pet ro ch em icals & Plast ics In d i an Privat e 831
812 895 Sal asar Tech n o En g i n eer i n g , Delhi/ NCR 1073.4 4 4 .4 9 3 .6 3 1 .5 40.2 2 7 .8 774 4 0 0 .1 4 2 .0 805 677.5 2 6 .9 849 3 .2 1 0 .5 4 6 .5 1 6 .3 1 3 .8 2 7 .9 1 1 .8 1 4 .1 1616.5 764 M i n i n g & M et als In d i an Privat e 535
813 720 Val i an t Or g an i cs, Mumbai 1069.7 - 9 .6 1 7 7 .2 - 1 6 .5 88.1 - 2 2 .2 636 6 3 7 .9 1 0 .6 708 964.4 - 1 .4 728 2 .7 - 7 1 .5 4 6 .3 2 4 .7 3 4 .6 - 2 8 .3 1 5 .8 1 5 .2 1272.6 807 Chem icals In d i an Privat e
** 875
814 932 Ho n asa Co nsum er, Delhi/ NCR 1068.5 5 6 .9 - 1 0 9 .4 ** - 142.8 947 - 1 1 8 7 .0 - 982 704.2 - 1 5 .0 835 - - 1 6 4 .9 1 0 9 .1 9 .9 2 4 .1 - - 12471.7 288 Tr ad i n g In d i an Privat e 547
815 854 RPP Infra Pro ject s, Chennai 1065.7 3 0 .6 6 8 .3 7 2 .5 29.0 4 4 0 .7 806 3 6 3 .4 8 .7 830 446.1 3 .5 925 - - 3 1 .1 6 9 .7 1 2 .8 1 1 9 .0 8 .3 1 3 .6 336.3 943 Co nst ruct io n & Inf rast ruct ure In d i an Privat e 641
816 859 Sayaji In d u st r i es, Ahmedabad 1058.9 3 1 .0 3 5 .2 - 3 4 .1 7.2 - 6 1 .7 875 1 1 2 .4 1 .9 937 247.9 9 .1 969 0 .6 0 .0 5 9 .5 1 9 .0 1 .5 - 8 5 .7 0 .5 5 .4 113.0 990 Diversified In d i an Privat e 856
817 850 Salzer Elect ro nics, Coimbatore 1058.7 2 8 .9 9 7 .6 4 2 .1 38.7 7 1 .4 777 4 0 2 .2 1 5 .1 802 689.6 1 3 .7 846 3 .6 2 3 .6 3 9 .4 1 7 .2 1 5 .3 8 4 .1 1 0 .4 1 2 .5 678.2 887 Capit al Go o d s Salzer 859
818 722 Sh i l p a M ed i car e, Raichur 1056.0 - 1 0 .2 1 1 5 .9 - 4 8 .1 - 32.5 ** 919 1 7 9 2 .2 - 2 .2 373 2621.6 2 .9 387 - - 2 8 7 .3 8 .6 - 7 .4 - - 1 .7 0 .8 3094.8 620 Ph ar m aceu t i cal s In d i an Privat e 308
819 Bh ar at Seat s, Delhi/ NCR 1055.0 2 8 .4 5 0 .3 3 4 .5 21.6 8 0 .9 832 1 4 6 .3 1 5 .1 922 212.8 2 7 .5 977 4 .4 7 5 .3 4 0 .6 1 3 .9 8 .1 1 0 2 .3 1 5 .8 1 7 .5 451.5 921 Aut o An cillaries In d i an Privat e
- 436
789 886 In d i an Privat e
820 792 A p ex Fro zen Fo o d s, Kakinada 1049.2 7 .8 8 4 .8 - 8 .0 35.9 - 1 2 .7 4 9 0 .0 4 .6 764 581.5 - 8 .5 883 7 .8 0 .0 6 2 .7 - 1 .6 1 4 .8 - 2 .6 7 .5 1 0 .7 680.4 Co n su m er St ap l es 564
**
908 880 In d i an Privat e
821 771 Dig iSp iceTech n o lo g ies, Delhi/ NCR 1046.2 3 .3 7 .8 - 7 7 .5 - 20.6 2 3 0 .6 - 4 .4 893 325.6 5 .3 951 - - 1 1 7 .0 3 5 .8 2 .7 - 6 0 .2 - 7 .4 - 4 .1 699.4 Tel eco m m u n i cat i o n s 141
572 495 Foreign - Ke n n am e t al
822 838 Ken n am et al In d i a, Bengaluruo 1045.7 2 2 .0 1 8 8 .3 3 7 .7 114.1 5 5 .7 6 4 6 .3 1 0 .3 700 653.9 1 1 .0 857 5 2 .8 2 0 .0 1 4 5 .2 1 4 .6 3 8 .5 5 2 .8 1 8 .5 2 4 .6 5285.0 Capit al Go o d s 841
452 In d i an Privat e
823 665 Keyst o n e Realt o rs, Mumbai 1043.4 - 2 3 .9 1 4 8 .4 - 2 9 .7 82.0 - 4 1 .3 648 1 6 5 2 .1 8 3 .1 388 2892.8 7 .4 365 - - 8 9 .0 5 2 .6 2 8 .2 - 4 1 .9 6 .1 5 .2 6451.7 Realt y 809
* 927 Onid a
824 703 M IRCElect ro n ics, Mumbai 1041.2 - 1 4 .4 7 .5 3 1 9 .7 - 12.5 903 1 9 0 .8 - 6 .1 911 280.1 0 .3 962 - - 6 6 .0 8 .8 - - - - 405.9 Co n su m er Du r ab l es 90
391
825 820 In o xIn d i a, Vadodara 1040.9 1 6 .3 2 2 2 .7 1 8 .0 152.7 1 7 .0 482 5 4 9 .5 9 .4 740 564.5 0 .4 893 1 1 3 .4 7 3 3 .5 7 9 .0 7 .6 5 2 .3 1 9 .7 2 9 .0 3 7 .1 8239.0 Packag in g

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TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECTTAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
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826 826 Ud aip u r Cem ent W o r ks, Delhi/ NCR 1039.9 1 8 .3 1 3 5 .0 - 1 0 .1 35.9 - 2 6 .3 790 3 4 5 .8 1 7 .4 837 1523.2 2 0 .5 573 - - 3 8 .5 6 .0 1 4 .6 - 9 .5 1 1 .2 7 .0 1866.8 738 Cem ent & Bl d g M at erials Si n g h an i a H ar i S 974
827 912 Vasco n En g i n eer s, Pune 1036.4 4 5 .6 1 2 8 .6 6 9 .3 97.5 1 7 7 .0 609 8 9 9 .2 1 2 .6 588 1063.0 7 .5 695 - - 6 9 .1 - 1 .6 3 .9 - 1 2 .6 1 1 .2 1 1 .1 1631.3 762 Co nst ruct io n & Inf rast ruct ure In d i an Privat e 802
828 812 Kovai M edical Cent er& Ho sp it al, Coimbatore 1035.7 1 2 .8 2 8 7 .6 5 .6 115.8 1 1 .0 567 7 1 9 .0 1 8 .0 670 1249.3 6 .3 644 1 0 .9 6 6 .8 1 7 9 .7 1 9 .2 3 9 .5 8 .3 1 7 .4 1 6 .4 3225.9 608 Healt h care In d i an Privat e 651
829 823 VST Tillers Tract o rs, Bengaluru 1034.6 1 6 .2 1 5 2 .8 - 3 .8 92.4 - 7 .0 624 8 2 4 .5 1 0 .0 616 868.4 9 .8 768 2 1 .6 2 5 .0 7 9 .1 1 2 .0 3 1 .6 - 3 .9 1 1 .7 1 5 .2 3289.9 603 Capit al Go o d s In d i an Privat e 319
830 767 Raj n an d i n i M et al, Rewari 1033.2 - 0 .2 2 9 .6 5 3 .6 13.7 3 6 .5 852 4 1 .4 4 0 .0 952 113.7 3 9 .9 991 2 7 .7 1 4 0 2 .7 5 .7 5 7 .3 7 .4 8 0 .1 3 8 .5 2 9 .1 260.6 959 Tr ad i n g In d i an Privat e 849
831 799 Pu n j ab Chem icals & Crop, Chandigarh 1032.0 8 .4 1 2 5 .9 - 1 0 .5 61.1 - 2 6 .8 706 2 8 0 .6 2 4 .4 872 396.0 1 7 .0 937 3 .7 0 .0 8 3 .3 8 .7 2 7 .8 - 1 .3 2 4 .1 2 9 .1 1452.2 781 Chem icals Sh al i l Sh ro f f 438
832 - A n d h r a Cem ent s, Hyderabad 1028.9 - 9 4 6 .2 *** 949.6 142 3 5 5 .2 - 833 881.7 1 4 7 6 . 2 764 - - 7 .4 - 3 4 .0 - 6 5 .9 - 2 1 .5 - 1 1 .0 918.1 854 Cem ent & Bl d g M at erials Jayp ee Gro up 979
833 715 Tech n o El e ct r i cs En g i n eer i n g Co, Kolkata 1028.8 - 1 3 .9 2 5 2 .2 - 2 4 .5 186.9 - 2 9 .2 443 1 9 3 0 .1 5 .1 355 2114.5 7 .5 453 6 4 .6 1 9 3 .5 4 2 .2 2 4 .3 4 6 .5 - 2 1 .5 9 .9 7 .6 6765.8 439 Co nst ruct io n & Inf rast ruct ure In d i an Privat e 461
834 867 M ag ad h Sug ar & Energ y, Kolkata 1019.7 2 8 .3 1 3 2 .7 4 .3 50.3 9 .2 736 6 3 9 .4 6 .9 706 1225.1 - 0 .9 647 9 .9 7 .6 6 1 .7 2 7 .3 2 6 .8 3 1 .3 8 .1 8 .7 1007.0 836 Sug ar Birla KK 847
835 872 Cel l o W o r l d , Mumbai 1018.9 2 9 .6 4 3 7 .3 2 5 .1 266.1 3 0 .5 354 1 3 6 .5 - 924 1157.2 1 0 8 .5 668 - - 1 5 7 .6 1 9 .5 1 0 0 .1 2 5 .8 1 3 4 .4 4 5 .2 16765.8 235 Tr ad i n g In d i an Privat e 752
836 - M ad h ya Bh ar at Agro Pro d u ct s, Bhilwara 1016.9 8 5 .4 2 1 5 .0 1 0 1 .2 124.2 1 1 7 .8 539 3 2 8 .4 5 9 .9 843 670.1 8 1 .4 852 2 .2 9 9 .1 2 7 .6 5 5 .4 5 2 .0 1 1 5 .1 4 6 .5 3 7 .1 2532.7 666 Fert ilizers In d i an Privat e 834
837 789 Bu t t erf ly Gan d h i m at h i A p p , Chengalpet 1015.1 4 .1 1 0 3 .8 9 2 .4 51.7 2 2 0 .3 733 2 8 4 .8 2 1 .6 871 290.6 0 .8 960 - - 1 0 1 .4 2 .2 2 8 .8 2 3 3 .2 1 9 .9 3 0 .4 1968.5 726 Co nsum er Durab les In d i an Privat e 183
838 770 H aw k i n s Cookers, Mumbai 1008.4 - 1 .0 1 3 9 .5 1 1 .0 94.8 1 3 .0 618 2 7 6 .1 2 9 .5 878 328.1 2 4 .0 950 5 2 .9 - 3 3 .3 1 1 2 .7 6 .2 3 2 .1 1 0 .8 3 8 .7 4 4 .5 3866.4 558 Co nsum er Durab les In d i an Privat e 146
839 858 N ew g en So f t w ar eTech n o l o g i es, Mumbai 1008.0 2 4 .6 2 4 6 .2 9 .6 176.3 7 .3 456 9 7 6 .8 2 0 .4 563 1054.5 2 0 .8 701 3 4 .8 1 1 .3 5 1 5 .9 2 6 .1 4 1 .0 4 .5 1 9 .7 2 3 .0 8634.7 375 Tech n o l o g y- So f t w ar e In d i an Privat e 360
*
840 994 Tejas N et w o r k s, Bengaluru 1005.6 6 8 .3 9 5 .1 *** - 36.4 921 2 9 7 3 .0 5 4 .0 256 3181.6 6 3 .1 345 - - 3 9 4 .5 8 4 .3 - 6 .2 - - - 14433.8 260 Tel eco m m u n i cat i o n s Tata 912
841 802 Am b i k a Cotton M ills, Coimbatore 1005.3 6 .1 1 8 9 .7 - 3 1 .2 111.9 - 3 7 .8 576 8 1 6 .6 1 2 .7 619 824.9 1 2 .7 786 2 0 .1 0 .0 5 1 .7 1 3 .0 4 0 .6 - 3 6 .7 1 4 .5 2 0 .5 924.6 851 Text ile & Gar m en t s In d i an Privat e 619
842 - A n an t Raj , Delhi/ NCR 1004.9 1 0 0 .5 2 4 5 .0 1 1 2 .5 151.1 1 7 5 .3 486 2 7 9 1 .9 7 .2 269 4113.3 0 .5 286 1 6 .2 3 5 7 .6 1 5 .7 1 0 .5 5 2 .3 1 2 6 .9 5 .3 5 .6 8767.9 372 Realt y In d i an Privat e 906
**
843 724 M aral Overseas, Delhi/ NCR 1001.3 - 1 3 .7 3 4 .7 - 7 5 .1 - 15.9 906 1 4 1 .0 - 1 4 . 9 923 527.6 2 3 .8 905 - - 1 4 6 .4 1 2 .3 - 2 .4 - - 1 0 .4 1 .0 295.4 952 Text ile & Gar m en t s Bh i l w a r a - JLN 937
844 725 San g h i In d u st r i es, Ahmedabad 1000.2 - 1 3 .6 5 .9 - 9 7 .1 - 325.7 ** 965 1 5 5 9 .1 - 1 5 .0 407 3234.4 - 4 .8 335 - - 6 3 .8 - 3 .9 - - - 1 9 .2 - 2 .6 3135.5 614 Cem ent & Bl d g M at erials San g h i 983
845 808 Com put erAge M anag em ent Services, Chennai 998.6 7 .7 4 4 8 .1 1 .5 285.3 - 0 .6 339 7 8 1 .0 2 0 .6 636 947.0 1 8 .0 736 1 8 4 .9 - 2 .4 3 5 8 .1 1 1 .3 9 5 .6 - 0 .2 3 9 .8 4 4 .3 12756.9 282 M i scel l an eo u s In d i an Privat e 300
**
846 818 Su m eet In d u st r i es, Surat 995.7 9 .6 - 2 9 .2 ** - 58.7 925 - 1 1 6 .3 - 964 377.4 - 2 4 .7 938 - - 2 5 .3 3 .4 - 5 .1 - - - 39.9 997 Text ile & Gar m en t s In d i an Privat e 787
847 807 Baj aj Co nsum er Care, Mumbai 995.3 7 .4 1 7 8 .3 - 1 6 .1 139.2 - 1 7 .9 505 7 8 9 .7 - 2 .5 633 802.8 - 1 .3 796 7 1 .3 - 3 9 .6 8 9 .2 1 .1 2 9 .6 - 1 9 .7 1 7 .4 2 1 .0 3223.3 609 Co n su m er St ap l es Baj aj S 318
5 8 .7 322
848 875 Gu jar at Pi p avav Po rt , Mumbai 989.3 2 7 .5 5 3 7 .3 2 1 .9 313.1 2 3 1 0 .8 3 .0 310 2456.7 4 .2 405 2 9 4 .9 5 2 .5 7 4 .6 0 .9 1 0 0 .1 - 8 .4 1 3 .8 1 7 .5 6635.8 444 Co nst ruct io n & Inf rast ruct ure Fo reig n - APM Ter m i n al s 680
1 2 9 .7 473
849 882 Just Dial, Mumbai 986.7 2 8 .3 2 2 7 .7 8 9 .7 162.7 3 6 6 7 .1 5 .2 218 3792.3 5 .5 307 - - 6 5 1 .0 2 9 .2 2 5 .1 1 0 1 .5 1 .3 1 .7 6325.0 457 E- Co m m er ce/ Ap p b ased Aggregat or In d i an Privat e 726
701
850 - IRM Energ y, Ahmedabad 985.8 9 2 .8 1 1 8 .2 - 3 7 .6 63.2 - 5 0 .7 3 2 5 .3 4 6 .1 845 694.9 4 5 .2 842 1 .5 - 9 .1 2 6 .8 1 8 .0 - 5 3 .7 2 0 .6 1 6 .6 1935.9 729 M i scel l an eo u s In d i an Privat e 800
** 914
851 765 Preco t , Coimbatore 985.8 - 5 .5 3 6 .9 - 8 1 .2 - 26.0 4 0 5 .7 - 8 .6 799 807.5 - 2 .3 793 - - 8 4 .6 - 9 .6 - 8 .5 - - 6 .1 0 .4 286.4 954 Text ile & Gar m en t s Elgi 874
335
852 903 Clean Science STe ch n o l o g y , Pune 978.1 3 3 .0 4 3 2 .3 3 0 .9 295.2 2 9 .2 1 0 1 0 .0 3 1 .4 547 1013.1 3 1 .8 713 5 3 .1 5 3 .9 4 5 .2 3 0 .8 1 0 0 .5 3 1 .6 3 3 .2 4 4 .5 14879.9 256 Chem icals In d i an Privat e 182
613
853 930 St ylam In d u st r i es, Chandigarh 976.7 4 3 .1 1 5 6 .3 3 9 .9 96.0 5 7 .6 4 1 2 .1 3 0 .4 797 466.5 1 7 .0 918 - - 6 8 .8 2 5 .5 3 2 .1 6 4 .9 2 6 .4 3 1 .5 2958.3 626 Pl y w o o d Bo ar d s/ Lam i n at es In d i an Privat e 270
731
854 827 Aval o n Tech n o l o g i es, Chennai 976.2 1 1 .1 1 2 7 .1 - 1 .0 52.5 - 1 6 .9 5 3 7 .0 5 0 4 .8 750 891.4 1 1 3 .8 761 - - 1 6 0 .6 2 2 .2 2 0 .2 1 1 .1 1 6 .8 1 6 .4 3388.4 592 Co nsum er Durab les In d i an Privat e 860
823
855 698 Sh ak t i Pu m p s (In d i a), Indore 972.2 - 2 1 .2 6 9 .8 - 4 0 .1 24.1 - 6 2 .8 4 1 8 .1 6 .3 795 499.6 - 1 .1 912 3 .7 0 .0 5 3 .4 1 .9 8 .1 - 5 3 .7 6 .0 1 0 .2 1843.6 741 Capit al Go o d s In d i an Privat e 495
605
856 - Orient Pa p e r s In d u st ries, Kolkata 971.9 6 4 .9 1 9 1 .1 *** 99.3 1 5 1 5 .5 - 2 .4 420 1795.0 1 .5 517 2 1 .2 3 0 0 .4 8 0 .2 - 1 .4 4 8 .4 - 6 .5 8 .9 955.5 844 Pap er Birla CK 697
683
857 - Bo ro sil Re n e w ab l e s, Mumbai 967.7 - 1 6 2 .8 - 69.6 8 9 6 .3 - 589 1351.6 - 622 - - 1 1 8 .5 - 3 0 .4 - 7 .7 8 .1 5530.6 482 M i scel l an eo u s BLKh u r e k a 927
493
858 877 Ind ia Pest icid es, Lucknow 966.4 2 5 .0 2 1 0 .2 - 7 .4 143.2 - 9 .3 7 7 3 .2 2 1 .2 642 787.3 1 8 .8 806 8 .6 0 .0 3 5 .5 1 9 .5 4 8 .4 - 9 .7 2 0 .3 2 7 .4 3564.5 580 Agro Chem icals In d i an Privat e 392
558
859 976 Flair W r i t i n g In d u st r i es, Mumbai 959.8 5 5 .4 1 9 5 .3 8 0 .6 118.2 1 1 4 .3 4 3 4 .7 3 7 .1 788 565.2 2 4 .1 891 - - 1 1 7 .3 3 3 .6 4 0 .7 1 2 2 .4 3 1 .4 3 2 .9 3967.9 554 Pr i n t i n g & St at i o n er y In d i an Privat e 357
885
860 - M ed ia M at rix W o r l d w i d e , Delhi/ NCR 954.6 6 5 .6 1 3 .0 3 3 .9 1.4 1 1 .5 1 1 8 .0 - 4 4 . 9 932 229.5 - 2 2 .4 972 - - 4 .2 - 2 3 .9 2 .3 1 1 .8 1 .2 4 .0 2401.4 681 M ed ia & En t er t ai n m en t In d i an Privat e 755
825
861 848 Ap o llo Pip es, Delhi/ NCR 951.7 1 5 .4 7 0 .6 - 2 7 .5 23.9 - 5 1 .9 4 5 7 .2 1 2 .8 780 502.9 1 2 .8 909 2 .4 - 3 9 .9 5 1 .7 2 4 .9 8 .8 - 4 9 .4 5 .5 8 .9 2682.6 651 Pet ro ch em icals & Plast ics In d i an Privat e 401
** 905
862 741 Gin n i Fi l am en t s, Delhi/ NCR 948.6 - 1 5 .0 2 6 .1 - 7 9 .0 - 14.3 2 7 8 .9 - 4 .7 873 548.2 - 1 3 .2 901 - - 7 3 .6 0 .9 - 1 1 .4 - - 5 .0 - 0 .5 242.0 962 Text ile & Gar m en t s Gi n n i 767
772
863 852 In d o A m i n es, Mumbai 942.8 1 5 .1 9 1 .3 4 6 .0 40.4 7 7 .2 2 2 3 .5 2 0 .3 896 458.8 1 5 .8 922 3 .5 0 .0 3 2 .6 1 8 .3 1 5 .9 3 8 .7 1 9 .9 1 7 .4 818.2 866 Chem icals In d i an Privat e 785
649
864 884 Raj ap al ay am M ills, Rajapalayam 942.4 2 3 .8 1 4 9 .3 - 0 .9 81.9 - 5 0 .8 2 2 4 1 .7 5 .5 319 3355.3 1 6 .8 325 0 .9 7 .0 9 9 .8 1 8 .3 5 .9 - 8 4 .6 1 .2 2 .7 790.4 872 Text ile & Gar m en t s Ram co 964
688
865 865 In n o va Cap t ab , Haryana 935.4 1 7 .2 1 2 2 .8 2 4 .2 68.0 6 .3 2 7 6 .5 3 2 .5 876 524.4 2 7 .9 906 - - 5 4 .8 3 5 .4 2 3 .8 9 .5 2 8 .0 2 3 .9 3119.3 616 Ph ar m aceu t i cal s In d i an Privat e 626
** 923
866 897 JaySh r eeTea & In d u st r i es, Kolkata 933.2 2 5 .8 9 .4 - 6 9 .3 - 47.1 2 2 1 .4 - 1 9 .4 897 629.2 - 9 .0 864 - - 2 7 7 .1 9 .1 2 .1 - - 1 5 .4 0 .2 294.3 953 Co n su m er St ap l es Birla BK 968
762
867 835 Kh ai t an Chem icals & Fert ilizers, Indore 933.2 8 .4 8 4 .6 - 3 0 .8 42.1 - 4 7 .0 2 9 3 .8 1 6 .5 868 523.2 3 2 .3 907 2 .9 0 .0 3 3 .9 9 .3 1 3 .7 - 3 9 .8 1 5 .4 1 6 .4 640.8 891 Fert ilizers Kh ai t an KL 865
682
868 933 HLE Glasco at , Navsari 931.8 3 6 .9 1 4 6 .9 3 4 .2 69.8 2 0 .0 3 2 5 .8 2 9 .1 844 629.1 2 7 .2 865 7 .5 1 0 .1 1 4 7 .6 1 1 9 .4 2 9 .5 1 3 .2 2 4 .1 2 2 .1 3608.9 577 Capit al Go o d s In d i an Privat e 780
867
869 869 Cent um Elect ro nics, Bengaluru 929.5 1 7 .3 8 3 .3 3 8 0 .4 9.8 2 1 7 .4 3 .8 899 546.5 - 0 .2 902 5 .2 6 0 .2 3 3 2 .7 4 .0 5 .4 3 3 1 .7 3 .2 7 .2 1820.7 746 Co nsum er Durab les In d i an Privat e 716
635
870 791 T.V. To d ay N et w o r k , Delhi/ NCR 921.8 - 5 .4 1 6 5 .0 - 4 2 .8 88.2 - 5 1 .4 8 2 8 .4 - 2 8 .4 613 866.9 - 2 7 .3 769 4 1 7 .6 2 2 3 3 .1 3 2 6 .8 1 7 .4 3 2 .1 - 4 8 .0 8 .9 1 2 .0 1266.6 808 M ed ia & En t er t ai n m en t Ind ia To d ay 496
838
871 - In d i an Acrylics, Chandigarh 921.3 6 0 .3 7 2 .1 *** 19.5 9 2 .2 2 7 .0 943 288.0 - 4 .0 961 - - 6 9 .1 2 1 .8 - - 1 6 .3 1 7 .0 165.5 977 Text ile & Gar m en t s Ga r g RK 803
942
872 839 Kellt o n Tech So l u t i o n s, Hyderabad 919.6 9 .0 - 8 8 .4 ** - 126.8 ** 3 7 3 .0 - 2 2 . 1 826 540.1 - 1 2 .1 904 - - 4 6 3 .6 7 .7 1 2 .5 - 3 .6 1 6 .5 1 4 .1 838.6 863 Tech n o l o g y- So f t w ar e In d i an Privat e 673
516
873 892 Exp l eo So l u t i o n s, Chennai 919.4 2 2 .8 2 1 6 .3 6 6 .2 133.9 9 7 .8 5 3 0 .2 3 4 .4 752 565.9 3 3 .7 889 7 .8 - 4 7 9 .9 2 5 .0 5 2 .2 2 3 .1 2 9 .0 3 8 .1 2045.5 719 Tech n o l o g y- So f t w ar e M NC Asso ciat e 334
601
874 817 Rajr at an Glo b al W i r e, Indore 915.3 0 .5 1 6 5 .3 - 1 0 .0 100.1 - 1 9 .5 4 3 5 .3 2 9 .2 787 611.3 2 7 .9 872 1 0 .2 0 .0 3 6 .4 1 1 .4 3 0 .2 6 .8 2 5 .9 2 7 .2 3827.8 560 M i n i n g & M e t al s In d i an Privat e 374
837
875 Orient al Ar o m at ics, Mumbai 913.3 - 0 .7 5 9 .9 - 3 8 .2 19.7 - 6 3 .0 6 2 5 .0 3 .3 712 858.9 1 5 .0 773 1 .7 - 6 6 .7 5 2 .8 5 .5 7 .7 - 6 5 .7 3 .2 5 .1 1196.1 814 Chem icals Jay an t D al al 837
8

892
876 784 SPM L In f ra, Kolkata 910.7 - 7 .2 5 6 .4 1 3 1 .7 0.4 2 1 .9 3 1 8 .2 1 4 .0 851 2288.9 0 .4 431 - - 2 6 .8 - 4 .9 2 .6 - 0 .1 2 .3 344.5 940 Realt y In d i an Privat e 997
866
877 876 Jo cil, Guntur 909.8 1 7 .2 2 0 .1 2 1 .2 10.0 4 0 .3 2 0 6 .4 1 .4 903 209.5 0 .2 978 2 .2 2 4 .7 3 2 .7 2 .7 2 .8 1 2 .2 4 .9 6 .6 187.4 972 Chem icals In d i an Privat e 144
769
878 821 Ram a Ph o sp h at es, Udaipur 908.5 1 .9 7 3 .4 - 3 6 .4 40.9 - 4 1 .6 3 0 9 .0 1 4 .6 859 427.7 2 9 .7 929 1 .8 - 4 9 .9 3 4 .3 1 0 .3 1 3 .9 - 4 1 .7 1 4 .2 1 6 .8 388.7 930 Fert ilizers Ram si n g h an i 771
671
879 900 Jup it er Life Line Ho sp it als, Mumbai 906.6 2 2 .6 2 0 9 .5 3 3 .3 72.9 4 2 .6 3 6 7 .5 2 3 .0 828 834.3 5 .8 781 - - 1 4 9 .7 1 6 .1 5 5 .8 1 1 4 .7 2 2 .1 2 1 .1 7003.8 429 Healt h care In d i an Privat e 749
377
880 885 Concord Bio t ech , Ahmedabad 906.1 1 9 .2 3 8 5 .9 3 1 .4 240.1 3 7 .2 1 2 9 0 .0 1 6 .9 473 1323.9 1 3 .4 628 7 1 .4 1 3 6 6 .9 1 1 0 .3 1 5 .2 8 1 .9 3 0 .9 2 0 .1 2 6 .6 13185.4 274 Ph ar m aceu t i cal s In d i an Privat e 327

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881 883 DIC In d i a, Delhi/ NCR+ 903.3 1 7 .7 6 1 .4 8 9 .4 41.0 2 3 0 .8 768 4 2 2 .3 9 .4 792 451.8 1 3 .8 924 1 .8 - 5 9 .9 7 5 .9 - 1 .6 3 .3 - 2 4 .0 2 .6 3 .6 414.6 925 Chem icals Fo reig n- DIC 347
882 - W i n so m eText i l e In d u st r i es, Chandigarh 903.2 - 4 .7 9 4 .9 - 2 9 .1 24.5 - 4 6 .1 820 2 5 6 .2 1 0 .5 885 541.9 - 0 .8 903 - - 7 0 .9 5 .5 1 0 .0 - 5 9 .0 1 0 .1 1 3 .5 135.7 982 Te x t i l e s Gar m en t s In d i an Privat e 792
883 845 Go o d ricke Gr o u p , Kolkata 899.4 8 .5 2 8 .6 - 2 1 .1 - 0.3 ** 893 3 1 0 .9 - 3 .6 856 410.3 3 .4 934 - - 3 3 9 .6 5 .9 2 .9 - 2 6 .9 0 .2 1 .4 421.9 924 Co n su m er St ap l es Fo r ei g n - Cam el l i a Plc 568
884 840 Accu r acySh i p p i n g , Anjar 895.4 6 .4 3 6 .8 - 2 5 .2 8.2 - 5 4 .6 873 1 1 5 .6 7 .3 934 230.6 - 0 .4 971 - - 1 4 .1 4 2 .5 3 .8 - 5 6 .2 7 .4 1 0 .6 130.8 983 Transp o rt S Logistics In d i an Privat e 648
885 9 6 2 Et h o s, Delhi/ NCR 893.5 3 9 .1 1 3 5 .5 6 0 .3 60.3 1 5 7 .8 708 6 3 1 . 5 1 7 2 .6 711 754.6 9 1 .0 821 - - 5 2 .7 2 4 .3 2 0 .4 1 5 0 .4 1 4 .0 1 7 .6 4265.7 536 Ret ail In d i an Privat e 844
*
886 7 6 6 Fl exi t u f f Ven t u r es In t er n at i o n al , Pithampur 8 9 1 .8 - 1 4 .3 - 2 6 .5 - 119.7 940 - 5 1 .2 - 960 598.5 - 1 2 .0 879 - - 1 7 5 .4 - 6 .6 - 3 8 .7 - - - 126.0 985 Packag i n g In d i an Privat e 970
887 797 DCM N o u vel l e, Haryana 8 8 8 .7 - 6 .9 3 4 .5 - 8 1 .1 12.3 - 9 0 .0 862 3 1 1 .6 1 .7 855 588.0 2 5 .5 881 - - 5 1 .8 - 5 .3 6 .6 - 8 4 .2 4 .3 5 .2 329.0 945 Te x t i l e s Gar m en t s DCM - VBR 758
888 - Lem o n Tree Ho t els, Delhi/ NCR 8 8 4 .6 1 0 8 .5 4 5 7 .2 2 2 4 .9 114.6 570 2 9 4 .0 1 1 .5 867 3033.1 2 .4 353 - - 1 4 9 .7 5 3 .9 3 7 .7 - 1 4 .4 1 1 .5 9225.9 358 Hot els S Rest au ran t s In d i an Privat e 955
889 737 M STC, Kolkata 8 7 9 .2 - 2 1 . 8 3 5 1 .2 3 6 .9 242.0 2 1 .5 376 7 8 6 .5 2 0 .3 634 1036.8 1 3 .2 705 1 0 5 .6 1 6 .3 1 7 1 .8 - 1 1 .1 8 7 .2 1 5 8 .0 3 1 .4 3 2 .1 3271.5 604 Tr ad i n g Govt of Ind ia 387
890 943 An t o n y Wast e H an d l i n g Cell, Mumbai 8 7 6 .6 3 1 .5 1 6 7 .9 0 .9 68.1 0 .3 686 3 5 4 .7 1 7 .9 834 921.5 3 9 .6 747 - - 2 2 0 .4 1 5 .1 1 7 .7 - 2 0 .5 1 8 .7 1 6 .3 1249.1 810 M i scel l an eo u s In d i an Privat e 931
891 843 Sh al b y, Ahmedabad 8 7 3 .3 4 .7 1 6 0 .7 2 4 .0 67.7 2 5 .1 690 9 2 7 .8 5 .9 581 1117.9 5 .6 683 1 2 .9 1 9 .3 1 4 3 .6 2 5 .2 3 4 .4 3 6 .6 7 .5 1 0 .4 3097.8 619 Healt h care In d i an Privat e 783
892 - POCL En t erp rises, Chennai 8 7 2 .6 7 6 .7 2 9 .6 1 3 9 .6 12.9 2 8 2 .5 858 5 1 .5 3 3 .3 950 143.4 1 4 .0 988 1 .1 - 1 4 .7 2 2 .2 4 .3 - 2 8 .6 2 0 .7 113.4 989 Chem icals In d i an Privat e 791
893 983 Sh r eyan s In d u st r i es, ludhiana 8 7 1 .8 4 4 .0 1 1 2 .3 2 7 1 .3 73.5 6 3 7 .6 669 3 0 1 .9 3 0 .2 862 352.0 1 7 .7 943 6 .9 1 5 0 .4 7 2 .0 1 3 .4 2 0 .3 8 9 8 .5 2 7 .5 3 0 .5 372.9 935 Pap er Sh r eyan s 281
894 936 Do near In d u st r i es, Mumbai 8 7 0 .0 2 9 .3 9 2 .7 4 0 .3 36.2 5 9 .2 787 1 7 1 .1 2 5 .9 917 552.4 1 8 .7 898 1 .0 0 .0 7 5 .6 1 7 .2 1 2 .3 6 2 .7 2 3 .6 1 6 .4 529.4 910 Text ile S Gar m en t s In d i an Privat e 952
895 8 6 3 Su r yal ak sh m i Cotton M ills, Secunderabad 8 6 7 .0 8 .0 5 8 .4 4 .2 10.4 4 6 2 7 .3 864 2 5 9 .4 4 .1 884 469.7 - 1 1 .0 917 - - 6 4 .4 1 2 .0 6 .0 - 6 1 .6 5 .9 1 0 .1 127.6 984 Text ile S Gar m en t s Su r yal ak sh m i 753
896 8 8 9 Gen u s Po w er Inf rast ruct ures, Jaipur 8 6 3 .5 1 4 .9 9 2 .4 - 2 2 .4 29.0 - 4 9 . 6 807 9 8 0 .2 2 .4 562 1430.4 1 2 .1 596 1 9 .3 2 0 0 .0 1 2 3 .7 1 6 .0 1 5 .2 4 .6 3 .1 5 .4 6263.7 460 Capit al Go o d s In d i an Privat e 729
897 855 TD Po w er Sy st em s, Bengaluru 8 6 1 .4 5 .9 1 5 4 .7 2 7 .7 96.8 3 7 .3 611 6 0 4 .5 1 4 .7 716 610.5 1 .2 873 1 5 .6 4 3 .3 9 0 .6 1 2 .4 3 2 .7 5 1 .7 1 7 .1 2 2 .1 4123.1 545 Capit al Go o d s In d i an Privat e 331
898 923 Kew al Kiran Clo t hing , Mumbai 8 5 7 .8 2 5 .0 1 7 2 .0 4 7 .2 119.0 4 5 .8 557 5 4 7 .0 1 4 .4 742 613.1 9 .5 871 3 0 .8 - 7 3 .7 9 7 .9 2 2 .7 3 7 .9 5 9 .8 2 3 .2 2 7 .8 4735.5 516 Text ile S Gar m en t s In d i an Privat e 363
899 9 4 0 Ru sh i l Decor, Ahmedabad 8 5 7 .4 2 7 .8 1 5 0 .8 1 0 0 .1 77.7 2 4 0 .7 662 3 4 5 .7 2 8 .5 838 777.2 8 .5 813 1 .0 0 .0 4 7 .1 1 5 .7 2 3 .6 1 9 9 .5 2 5 .3 1 7 .1 922.2 853 Pl y w o o d Bo ard s / Lam i n at es In d i an Privat e 871
*
900 697 BGR Energ y Syst em s, Chennai 8 5 5 .5 - 3 0 . 7 - 2 2 8 .3 - 485.0 976 1 3 4 .7 - 7 8 . 2 925 2175.4 - 1 9 .1 446 - - 1 2 8 .1 - 5 .5 - 1 5 6 .6 - - - 603.9 898 Capit al Go o d s In d i an Privat e 988
901 8 0 9 Ag ro Tech Fo o d s, Delhi/ NCR 854.1 - 7 .5 4 5 .5 - 2 2 .2 15.1 - 4 1 .7 848 4 8 6 .1 5 .2 766 550.2 7 .0 899 7 .3 0 .0 6 1 .5 3 .4 5 .3 - 4 2 .1 3 .2 4 .4 2009.6 722 Food Pro cessing Fo reig n - ConAgra Fo o d s 483
902 - SC h a n d S Co m p an y, Delhi/ NCR 850.6 4 6 .6 1 4 4 .7 9 5 .6 66.0 4 9 0 .2 694 8 8 7 .3 8 .8 593 1056.6 3 .6 698 1 0 .6 - 1 3 6 .4 1 6 .3 2 0 .1 - 5 .0 7 .3 911.7 857 M ed ia S En t er t ai n m en t In d i an Privat e 890
903 873 Pasu p at i Acr yl o n , Delhi/ NCR 849.0 8 .6 5 8 .2 - 1 8 .3 35.9 - 2 1 .8 788 3 1 5 .7 1 2 .9 852 318.6 1 2 .7 954 - - 2 4 .9 3 .9 1 2 .5 - 2 1 .3 1 2 .1 1 7 .3 343.1 941 Text ile S Gar m en t s Jain Pasu p at i 283
904 957 Tr an sp ek In d u st r y , Vadodara 848.3 3 1 .4 1 6 5 .1 3 2 .6 83.5 2 7 .6 643 5 8 6 .6 2 1 .1 722 734.8 1 7 .6 825 1 5 .4 2 2 .2 6 0 .3 1 7 .1 2 9 .3 5 5 .6 1 5 .6 1 9 .4 999.1 837 Chem icals In d i an Privat e 527
905 9 9 6 M ah i n d r a Lifesp ace, Mumbai 845.5 4 2 .0 1 2 8 .8 1 4 .7 101.4 - 3 4 .4 597 1 8 0 5 .6 3 .8 371 2080.3 0 .0 463 3 5 .6 1 5 .1 1 0 4 .8 5 .3 2 .8 - 1 .8 2 .1 8085.1 397 Realt y M ah i n d r a 915
906 9 5 6 Lancer Co nt ainers Lines, Mumbai 8 4 4 .0 3 0 .5 9 8 .2 8 8 .7 53.7 8 5 .6 724 1 5 0 .3 913 466.4 3 0 2 .5 919 - - 1 4 .7 2 9 .0 1 5 .1 3 8 .0 4 1 .9 2 8 .0 2026.2 720 Transp o rt S Logistics In d i an Privat e 877

38
907 8 7 9 Ast ra M i cr o w ave Pr o d u ct s, Hyderabad 8 4 2 .3 9 .1 1 5 0 .6 6 0 .7 69.8 8 4 .4 681 6 4 2 .6 9 .7 703 902.5 2 8 .9 755 1 3 .9 1 4 .4 9 2 .1 1 7 .5 2 6 .1 1 1 1 .6 1 1 .4 1 5 .8 5021.7 506 Tel eco m m u n i cat i o n s In d i an Privat e 745
908 8 9 6 Bh ar t i ya In t er n at i o n al , Delhi/ NCR 8 3 8 .0 1 2 .7 1 3 8 .6 2 3 2 .1 62.6 703 3 8 7 .9 2 0 .0 814 892.4 1 0 .9 760 - - 5 9 .2 1 4 .6 5 .9 8 .6 1 7 .6 1 3 .4 331.7 944 Fo o t w ear SA ccesso r i es In d i an Privat e 981
909 562 SVP Glo b al Text iles, Hyderabad 8 3 7 .1 - 5 1 .8 4 7 .6 - 8 4 .3 - 234.3 ** 960 - 2 7 .0 - 958 2933.8 - 3 .2 361 - - 2 8 .4 - 4 2 .4 1 .3 1 7 4 2 . 9 - - 109.1 991 Tr ad i n g In d i an Privat e 1000
910 937 A u t o m o t i veSt am p i n g s, Pune 8 3 4 .5 2 4 .1 3 4 .9 - 5 5 .4 8.3 - 8 4 .1 872 - 2 7 .4 - 959 59.4 1 8 .9 995 - - 4 0 .5 3 0 .2 - - 1 2 .7 1 3 .8 649.2 890 Aut o An cillaries Tata 710
911 9 2 1 3i In f o t ech , Mumbai 8 3 2 . 1 2 0 .3 3 6 .5 1.4 884 5 3 9 .8 - 1 8 . 4 748 762.1 - 9 .4 819 - - 5 5 7 .5 3 .3 3 .0 - 1 1 .2 0 .4 2 .1 697.1 881 Tech n o l o g y- So f t w ar e ICICI 858
912 - M a a n A l u m i n i u m , Delhi/ NCR 8 3 1 .1 4 2 .1 7 6 .5 1 0 0 .7 50.0 1 2 7 .3 737 1 3 0 .3 5 4 .4 927 186.8 2 4 .2 982 4 .1 2 0 0 .7 1 5 .8 3 7 .2 1 7 .1 1 1 9 .7 4 6 .6 4 2 .7 667.5 889 M i n i n g S M et als In d i an Privat e 377
913 9 7 4 AXISCADESTechno lo g ies, Delhi/ NCR 8 2 7 .6 3 3 .6 8 4 .4 7 .1 - 5.2 896 3 3 2 .3 2 .0 841 693.9 6 7 .7 844 - - 3 6 0 .9 1 5 .6 2 5 .8 8 3 .5 - 9 .6 2 2 .7 2344.8 689 Tech n o l o g y- So f t w ar e In d i an Privat e 852
914 967 V2 Ret ail, Delhi/ NCR 8 2 7 .4 3 0 .0 9 2 .1 1 1 .1 - 12.8 904 2 4 6 .9 - 4 .4 887 675.3 2 .3 850 - - 8 8 .6 4 0 .7 - 4 .1 - - - 757.0 873 Ret ail In d i an Privat e 941
915 8 9 9 Cyient DLM , Mysuru 8 2 7 .3 1 1 .8 9 4 .1 2 .3 31.7 - 2 0 .3 799 1 9 7 . 9 1 5 6 .6 907 580.1 2 6 .8 884 - - 6 4 .7 2 5 .2 1 1 .4 4 .5 2 3 .1 1 4 .4 5204.5 498 Capit al Go o d s In d i an Privat e 815
916 847 Ucal, Chennai 8 2 6 .6 0 .2 6 6 .5 - 3 5 .7 0.9 - 9 7 .6 888 3 9 3 .3 0 .5 811 621.6 - 3 .9 869 4 .4 0 .0 1 6 7 .5 1 .0 5 .6 3 4 .8 0 .3 4 .4 305.7 948 Aut o An cillaries Carburet t ors 704
917 - So m D i st i l l er i esS Br ew er i es, Bhopal 8 2 6 .0 1 2 0 .9 1 0 3 .4 4 2 8 .0 60.3 707 3 7 5 .4 2 9 .6 821 665.7 3 5 .3 853 1 .8 - 2 6 .8 2 3 .4 1 0 .2 - 1 8 .1 1 4 .9 2412.0 680 Dist illers SW i n e r i e s In d i an Privat e 892
918 - Ra t h i St e e l SPo w e r , Delhi/ NCR 8 2 4 .6 4 9 .8 1 0 7 .9 87.2 639 - 7 1 .0 - 961 82.7 - 2 7 .8 993 - - 6 .8 1 1 .1 0 .3 - 4 0 .4 8 .9 85.4 993 M i n i n g S M et als Rat hi Pu n am C 717
919 9 2 8 GPT In f rap ro ject s, Kolkata 8 2 1 . 9 2 0 .2 9 3 .3 2 .0 31.4 2 9 .0 800 2 7 7 .1 8 .8 875 565.9 2 .1 888 1 4 .5 6 6 .6 4 3 .3 1 4 .0 7 .4 - 1 9 .7 1 1 .2 1 3 .3 751.5 874 Co nst ruct io n S Inf rast ruct ure In d i an Privat e 763
920 1000 Par am o u n t Co m m u n i cat i o n s, Delhi/ NCR 8 1 5 .4 3 8 .1 6 4 .2 1 6 5 .8 47.8 4 8 1 .9 748 2 9 5 .1 4 6 .3 866 455.9 1 7 .1 923 - - 2 1 .5 - 6 .3 - - 1 8 .3 1 2 .6 1878.7 736 Capit al Go o d s In d i an Privat e 797
921 922 M ay u r Un i q u o t er s, Jaipur 8 1 1 .4 1 7 .9 1 5 6 .5 7 .1 104.2 1 0 .4 592 7 5 3 .6 6 .6 656 781.3 5 .8 810 8 .8 - 1 .5 4 0 .5 - 0 .4 2 7 .5 - 4 .6 1 4 .3 1 7 .7 2368.7 685 Pet r o ch em i cal sS Plast ics In d i an Privat e 317
922 9 1 5 I n o xW i n d Energ y, Delhi/ NCR 8 1 1 . 3 1 4 .3 - 2 4 6 .1 * - 358.1 * 968 - 2 4 3 .0 - 968 3510.0 - 0 .8 315 - - 8 8 .5 3 .8 - 2 7 .8 - - 5 2 .1 - 1 0 .0 4238.4 539 Po w er INOX 993
923 866 Deccan Cem en t s, Hyderabad 8 0 8 .6 1 .4 1 0 6 .6 - 3 0 .6 49.3 - 4 3 .7 742 6 8 7 .5 6 .5 682 957.8 1 7 .2 729 5 .3 - 2 5 .0 3 3 .8 - 0 .8 1 7 .3 - 4 1 .7 7 .4 8 .9 746.5 877 Ce m e n t S Bl d g M at erials D CL- M BRA JU 747
924 - Birla Cab le, Mumbai 8 0 8 .5 - 6 7 .5 32.9 797 2 2 9 .4 - 894 358.3 - 941 7 .5 - 3 0 .7 - 1 1 .0 - 1 4 .4 1 5 .9 873.2 860 Capit al Go o d s Birla M P 721
925 9 7 2 Ru ch ira Pap ers, Yamuna Nagar 8 0 2 .7 2 8 .2 1 1 0 .9 7 0 .5 67.6 1 0 4 .4 691 3 8 0 .5 2 2 .9 818 431.4 1 1 .4 928 1 4 .9 1 9 6 .2 3 9 .3 5 .6 2 3 .0 1 0 1 .2 1 9 .6 2 3 .4 398.4 928 Pap er In d i an Privat e 397
926 9 2 4 Ad o r W el d i n g , Mumbai 797.4 1 6 .3 9 4 .5 2 6 .2 59.3 3 1 .7 712 3 2 3 .5 1 4 .8 847 347.2 2 0 .1 946 2 3 .8 4 0 .0 5 6 .9 1 6 .8 1 9 .8 5 0 .3 1 9 .6 2 6 .1 1857.6 739 Capit al Go o d s A d o r Gr o u p 303
927 8 8 6 Krit i N u t rien t s, Indore 795.2 4 .8 3 5 .6 5 7 .1 20.8 6 9 .0 833 1 3 2 .4 1 7 .7 926 172.9 1 5 .1 986 1 .3 3 8 .9 1 1 .4 2 .9 7 .1 5 7 .7 1 7 .0 1 9 .5 386.2 932 Food Pro cessing In d i an Privat e 349
928 - Ko ku yo Cam l i n , Mumbai 794.9 5 7 .7 5 6 .5 2 2 8 .0 24.5 821 2 6 2 .6 9 .7 882 324.6 2 .9 952 5 .0 - 8 9 .0 1 1 .0 1 0 .7 - 9 .7 1 2 .4 1457.4 779 Prin t in g S St at io n ery M N CAsso ciat e 586
929 9 0 9 N ILE, Hyderabad 794.3 1 0 .4 3 6 .0 - 9 .6 22.6 - 5 .3 828 1 9 9 .5 1 2 .4 906 216.3 - 5 .0 976 0 .6 1 0 0 .0 1 0 .2 6 .3 7 .8 - 5 .9 1 2 .0 1 5 .0 244.9 961 M i n i n g S M et als In d i an Privat e 210
930 - St er l i n g To o l s, Delhi/ NCR 793.4 5 1 .7 1 0 3 .9 5 0 .6 47.9 8 7 .5 746 4 0 0 .4 1 2 .5 804 549.2 9 .8 900 7 .2 1 0 0 .0 5 2 .1 1 6 .9 1 5 .5 6 7 .4 1 2 .7 1 3 .8 1262.3 809 Capit al Go o d s In d i an Privat e 549
**
931 893 H i n d u st an M ed ia Ven t u r es, Delhi/ NCR 7 9 1 .6 6 .0 - 8 .5 ** - 38.1 922 1 4 7 5 .6 - 7 .2 429 1582.2 - 7 .5 563 - - 1 6 0 .4 5 .3 - 1 5 .9 - - 2 .6 - 2 .4 609.2 896 M ed ia S En t er t ai n m en t Birla KK 751
932 - N eog en Ch em icals, Mumbai 7 8 7 .5 4 1 .3 1 1 6 .2 3 2 .3 50.0 1 2 .0 738 4 8 2 .5 9 .9 769 860.4 2 7 .3 771 7 .5 9 .0 4 6 .8 4 8 .6 2 1 .1 6 9 .3 1 0 .8 1 3 .0 4165.2 544 Chem icals In d i an Privat e 943
933 9 1 4 Su p er h o u se, Kanpur 7 8 6 .7 1 0 .7 6 7 .3 1 .1 26.5 - 2 5 .5 815 4 2 2 .6 4 .1 791 631.4 9 .4 863 1 .1 0 .0 5 8 .5 1 4 .5 9 .2 - 1 6 .5 6 .5 8 .5 257.7 960 Fo o t w ear SA ccesso r i es Sup er Ho use 761
934 881 Pro t ean eGo vTech n o l o g i es, Mumbai 7 8 3 .9 1 .8 1 5 9 .6 - 2 1 .4 107.1 - 2 5 .6 585 8 5 7 .3 8 .7 602 880.5 7 .8 765 4 0 .4 - 7 1 .4 1 2 3 .0 5 6 .3 3 3 .4 - 1 9 .9 1 3 .0 1 6 .7 4772.6 512 Tech n o l o g y- So f t w ar e In d i an Privat e 562
935 9 0 5 A n k i t M e t a l SPo w e r ,K o l k a t a 7 8 3 .1 7 .1 - 6 3 .4 * - 98.8 936 - 8 8 2 .6 - 978 227.0 - 3 6 .7 973 - - 1 2 .6 7 .6 - - - - 64.2 995 M i n i n g S M et als In d i an Privat e 790

Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG are y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s

54 Business Standard
M arch 2 02 4 55
 — ADVERTORIAL — ADVERTORIAL YWVTSRPONMLKJIHGFED

AJOONI BIOTECH LTD. - TRANSFORMING LIVESTOCK

HEALTH AND EMPOWERING DAIRY FARMERS IN INDIA
The company's in-house testing laboratories feature state-of-the-art equipment, enabling rigorous quality control from raw materials to finished products
In the heart of India's agricultural
landscape lies a company dedicated
to revolutionizing animal health care
and e m p o w e r i n g d a i r y f a r m e r s .
Ajooni Biotech Ltd., stands as a
beacon of innovation and compassion,
committed to enhancing livestock
productivity while promoting sustainability
in the dairy farming industry.
E s t a b l i s h e d as a R e s e a r c h &
Development focused animal health
care solutions provider, Ajooni Biotech
Ltd., aims to uplift dairy farmers
by sustainably increasing milkyield
and improving the overall well-being
of livestock. As one of the organized
players in the Compounded Animal
Feed sector in India, Ajooni offers
a diverse portfolio including Quality
Cattle Feed, Cattle Feed Chips,
Camel Feed, Cotton Oil Cake, Mustard
Oil Cake, and an extensive range
of Feed s u p p l e m e n t s tailored to
cover the entire life-cycle of animals.
Ajooni Biotech Ltd.
I T
Ajooni
tonjihedcbLA
biotech Ltd. yutsronliheaVSHC
(Veterinary Health Care Solutions)
certifications, including registration
wi th th e D ep ar tm en t of D a i ry
Development, Government of Punjab,
Bureau of Indian Standards (BIS)
certification for manufacturing ISI
Mark Animal feed, and the prestigious
ZED Gold Certification, making it
India's first and only cattle feed
MR. JASJOT SINGH, company to achieve this distinction.
MANAGING DIRECTOR
Ajooni Biotech Ltd. Backed by a full suite of Quality
Certifications and stringent adherence
to Good Manufacturing Practices
(GMP), Ajooni ensures the highest
Additionally, the inclusion of a wood-
fired boiler reflects the company's
commitment to sustainable practices.
Through its state-of-the-art facilities,
Ajooni ensures the seamless production
of high-quality animal feed, setting
the standard for excellence in the
industry.
At the core of Ajooni's success lies
its profound grasp of livestock nutrition,
coupled with its pioneering approach
to f o r m u l a t i o n d e v e l o p m e n t . By
leveraging innovative techniques,
Ajooni tailors its products to meet the
unique requirements of various breeds,
climates, and life stages of animals.
Guided by the stringent standards
s e t f o r t h by t h e N a t i o n a l D a i r y
Development Board, Ajooni's offerings
not only boost milk yield but also
prioritize the overall health and longevity
of livestock.
Through a meticulous blend of scientific
At the core of Ajooni's
expertise and industry knowledge,
quality control measures, we maintain
a competitive edge in the market.
Beyond business success, Ajooni
remains dedicated to its corporate
social responsibilities, organizing
medical camps and promoting community
welfare initiatives.Through its relentless
pursuit of excellence and compassion,
Ajooni endeavours to enrich the lives
of f a r m e r s , foster envi r o n m e n t a l
sustainability, and fulfill its vision of
becoming a world-class Animal Health
Care Company.
A member of Ajooni's management
team emphasizes, "Ourcommitment
to customer satisfction drives us to
go above and beyond, offering thorough
technical support from our expert
MR. GURSIMRAN SINGH, veterinary and marketing teams. Our
WHOLE TIME DIRECTOR goal is to maximize productivity, meet
Ajooni Biotech Ltd. all nutritional requirements, and ensure
the ideal balance in animal diets.
Ajooni strives to be a reliable partner
for all farmers."

aims to uplift dairy

Nestled in the vibrant agricultural
landscape of Punjab, Ajooni Biotech
Ltd., strategically positions itself
at the epicentre of the region's bustling
cattle feed hub. This prime location
affords Ajooni convenient access to
essential ingredients and a well-
connected network of agricultural
markets. Leveraging its robust contract
manufacturing capabilities and
longstanding collaborations with
leading brands and milk societies,
Ajooni solidifies its reputation as
a reliable and esteemed partner
in the industry. By capitalizing on
synergistic partnerships and strategic
alliances, Ajooni continues to thrive
as a trusted entity, providing top-
notch animal health care solutions tonjihedcWUTSRONMLJIHGEDCBA
farmers by sustainably
increasing milkyield
and improving the
overall well-being of
livestock
and bolstering the prosperity of dairy
farmers across the nation.
At th e h el m o f A j oo n i B i o t e ch
Ltd., are individuals of repute and
business acumen, s u p p o r t e d by
a highly qualified and professional
Board of Directors. The company's
c o m m i t m e n t to e x c e l l e n c e is
u n d e r s c o r e d by its n u m e r o u s TI
standards of quality, occupational
health & safety, and environmental
management across its operations.
Leveraging modern technologies
such as ERP and efficient logistic
systems, the company has cemented
its position on the NSE platform,
driven by its core values and strong
ethical framework.
At the heart of Ajooni's operations
lies its cutting-edge manufacturing
plant, boasting advanced technology
and a daily capacity of 120 MT. With
fully automated processes, the plant
streamlines operations for maximum
e f f i c i e n c y . F e a t u r e s like auto
batch printing and auto bagging for
finished goods underscore Ajooni's
dedication to innovation and precision.
Ajooni continues to set new benchmarks
in animal nutrition, fostering healthier
and more resilient livestock populations.
As a result, Ajooni stands as a trusted
ally to farmers nationwide, offering
sol u ti on s th at n ot on l y o p t i m i ze
productivity but also contribute to the
well-being of their precious livestock.
Th e c o m p a n y i s s t e a d fast i n i ts
commitment to innovation and research-
driven solutions, spearheaded by a
dedicated Research & Development
team collaborating with top research
agencies, universities, and independent
scientists. Ajooni continues to pioneer
c o s t - e f f e c t i v e s o l u t i o n s a i m e d at
improving animal health and boosting
farm profitability. The company
aims to enhance animal health, increase
success lies its
profound grasp of
livestock nutrition,
coupled with its
pioneering approach to
formulation development
milkyield sustainably, and boost dairy
farm productivity—all while maintaining
the nutritional integrity of its products.
The c o m p a n y ' s i n - h o u s e t e s t i n g
laboratories feature state-of-the-
art e q u i p m e n t , enabling rigorous
quality control from raw materials
to finished products. Through continuous
refinement of formulations and stringent
He f u r t h e r a d d s , " E m p h a s i z i n g
transparency and upholding ethical
b u s i n e s s s t a n d a r d s , A j o o n i has
e a r n e d t h e u n w a v e r i n g t r u s t of
farmers nationwide. Through
transparent communication and
u n w a v e r i n g integrity, we have
solidified our reputation as a reliable
l e a d e r in the a g r i c u l t u r a l sector.
Selecting us ensures access to an
e x p e r i e n c e d , responsive p a r t n e r
w e l l - v e r s e d in l i v e s t o c k m a r k e t
dynamics. Our steadfast commitment
to serving clients with integrity and
p r o f e s s i o n a l i sm h i g h l i g h ts th e
c o m p a n y ' s d e d i c a t i o n to building
lasting relationships and empowering
farmers to achieve their goals with
confidence."
RANKED BY TOTAL REVENUES
miooo
RANK COMPANY, CITY ywutsrponmlkihgedcbaYTSRPNMLKJIHDCBA
TOTAL REVENUES OPERATING PROFIT NET PROFIT NET WORTH TOTAL ASSETS DIVIDEND EMPLOYEE COST DIRECT TAX RONW ROCE MARKET CAP SECTOR BUSINESS HOUSE FSI
%
2023 2022 FY23 % CHG FY23 %CHG FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG RANK FY23 %CHG FY23 %CHG FY23 %CHG % ~ CR RANK RANK
936 - Sam h i Ho t els, Delhi/ NCR 782.8 1 3 4 .8 2 7 9 .8 8 1 5 3 .1 - 338.6 * 967 - 8 0 7 .7 976 1973.3 - 1 0 .7 479 1 2 3 .0 3 5 .8 0 .0 0 .0 3519.6 584 Hot els & Rest au ran t s In d i an Privat e 987
937 898 Bh ar at Gears, Mumbai 782.7 5 .6 5 4 .7 - 2 4 .9 13.5 - 4 7 .8 853 1 2 0 .6 1 1 .4 930 264.5 9 .6 965 1 1 5 .8 8 .0 4 .1 - 5 0 .1 1 1 .8 1 3 .7 179.1 976 Aut o An cillaries Sing h Rau n aq 714
938 919 I n o x W i n d , Delhi/ NCR 780.5 1 2 .4 - 2 4 2 .3 * - 666.9 * 981 1 2 1 1 .2 3 9 .3 494 4236.4 1 0 .9 280 8 9 .1 4 .5 - 1 8 .5 9344.6 355 Capit al Go o d s INOX 991
939 - KICM et al i k s, Kolkata 777.9 4 4 .9 5 5 .8 - 3 6 .9 18.6 - 5 2 .0 841 1 7 7 .8 1 1 .6 916 309.1 - 2 .9 958 2 0 .7 2 .2 1 1 .8 - 3 8 .0 1 1 .0 1 3 .2 193.0 971 M i n i n g & M et als In d i an Privat e 601
940 - Dream f o lks Services, Delhi/ NCR 776.6 1 7 3 .4 1 0 2 .2 3 2 4 .5 72.5 3 4 6 .3 672 1 5 6 .3 9 0 .2 919 167.0 8 1 .2 987 1 7 .4 5 .4 2 4 .9 4 8 8 .9 6 0 .7 7 6 .2 2738.9 644 M i scel l an eo u s In d i an Privat e 111
941 - BF Ut ilit ies, Pune 775.9 4 5 .3 5 1 4 .9 5 0 .9 124.4 1 4 4 .8 536 - 5 1 3 .5 - 971 1532.9 - 9 .3 572 5 9 .0 1 1 .4 1 7 .3 7 3 . 4 6 7 .3 2 1 .5 2367.3 686 Po w er Kal yan i 965
942 946 Osia Hyp er Ret ail, Ahmedabad 775.2 1 6 .9 4 3 .6 6 3 .5 9.5 5 .1 868 1 1 2 .9 2 3 .6 936 347.9 4 0 .5 945 3 5 .1 2 8 .7 3 .8 1 6 . 5 9 .3 1 1 .9 617.6 893 Ret ail In d i an Privat e 910
943 - Hazo o r M ult i Pro ject s, Mumbai 775.2 5 9 1 .0 6 3 .1 1 4 3 1 .1 45.6 1 7 3 7 .9 753 8 1 .3 2 2 7 . 8 945 103.3 1 1 9 .0 992 3 .4 1 .9 1 8 3 0 .0 1 5 .7 1 4 5 0 . 5 8 5 .9 8 3 .7 276.3 957 Realt y In d i an Privat e 639
944 - Pu d u m j e e Pap er Pro d u ct s, Mumbai 773.6 3 5 .9 9 4 .8 5 2 .7 59.4 7 2 .0 711 3 9 7 .0 1 5 .8 807 502.7 7 .5 910 5 1 .7 - 5 .6 2 0 .3 7 6 . 7 1 6 .1 1 7 .2 461.8 919 Pap er In d i an Privat e 561
945 925 GP Pet r o l eu m s, Mumbai 773.0 1 2 .8 3 7 .5 2 4 .6 25.2 3 3 .0 818 2 7 6 .2 9 .9 877 309.2 7 .4 957 2 7 .9 4 .8 9 .5 2 7 . 5 9 .6 1 1 .4 278.3 956 Oil & Lub ricant s In d i an Privat e 585
946 927 Dyn aco n s Sy st em s& So l u t i o n s, Mumbai 772.5 1 2 .9 5 7 .0 7 5 .8 33.5 1 0 3 .6 795 1 0 4 .8 5 4 .1 939 176.1 3 1 .1 985 0 .6 1 2 .5 3 0 .8 1 1 .6 1 1 .2 1 0 0 . 5 3 8 .7 3 5 .8 847.8 861 Tech n o l o g y- So f t w ar e In d i an Privat e 579
947 - Sp ect r u m Talent M an ag em en t , Delhi/ NCR 771.4 5 8 .9 2 4 .3 5 0 .5 27.8 8 2 .4 809 5 5 .8 1 4 1 .3 948 60.5 5 5 .8 994 4 7 4 .1 3 2 .4 - 5 .6 - 7 0 .4 4 6 .0 261.2 958 Diversified In d i an Privat e 310
948 906 Pl ast i b l en d s In d i a, Mumbai 769.4 5 .7 5 5 .0 - 1 9 .3 26.9 - 2 6 .8 811 3 9 4 .9 3 .5 810 415.4 - 6 .4 931 1 0 .4 0 .0 3 6 .4 5 .7 9 .6 - 2 1 . 5 6 .9 9 .0 740.9 878 Pet ro ch em icals & Plast ics Kab r aSV 213
949 931 In d ia M ot or Part s & Accesso ries, Chennai 768.5 1 2 .6 9 4 .7 2 3 .3 75.1 2 3 .7 668 1 3 6 8 .1 1 0 .9 456 1377.7 1 0 .4 614 3 0 .0 8 4 .6 3 2 .6 9 .4 1 8 .6 2 4 .4 5 .0 6 .2 1109.8 826 Aut o An cillaries TVS 499
950 242 Fo rb es & Co m p an y, Mumbai 764.9 - 8 5 .1 2 6 4 .4 - 9 3 .9 192.0 - 9 5 .5 434 2 2 4 .7 1 5 9 .7 895 314.5 - 1 8 .9 955 8 3 .9 - 1 4 3 .0 - 1 7 .3 2 7 .8 - - 0 .6 1 .7 922.9 852 Diversified Sh ap o o r j i Pallo n 421
951 - Sar vesh w ar Fo o d s, Jammu 763.6 3 2 .7 4 0 .5 3 4 .7 7.8 1 3 2 .1 874 1 9 1 .4 3 6 .2 910 501.6 1 7 .0 911 3 .9 6 .6 3 .0 2 2 .0 4 .8 8 .1 479.3 918 Food Pro cessing In d i an Privat e 977
952 918 Bl u e Jet Heal t h car e, Mumbai 759.3 8 .6 2 4 3 .1 - 9 .5 160.0 - 1 1 .9 475 6 8 1 .5 3 0 .7 685 690.6 2 6 .9 845 4 1 .9 2 6 .9 5 6 .6 - 8 .2 2 6 .6 3 5 .3 6420.2 454 Ph ar m aceu t i cal s In d i an Privat e 235
953 - Eros In t er n at i o n al M ed i a, Mumbai 756.6 6 2 .5 - 4 3 .9 ** - 116.6 * 939 1 0 1 8 .9 - 3 .3 545 1506.0 - 1 6 .7 576 3 1 .8 - 4 6 .1 0 .1 - 1 1 .4 - 3 .1 197.9 969 M ed ia & En t er t ai n m en t In d i an Privat e 921
954 - Go Fashio n (In d i a), Chennai 755.4 5 8 .8 2 2 7 .0 5 6 .8 82.8 1 3 2 .6 645 5 2 0 .5 1 8 .7 754 865.1 2 5 .2 770 1 0 2 .6 4 0 .4 2 5 .9 1 1 1 .0 1 7 .3 1 8 .0 6895.4 434 Text ile & Gar m en t s In d i an Privat e 825
955 - Ritco Logist ics, Delhi/ NCR 754.1 - 5 5 .3 - 24.4 - 822 1 4 8 .7 - 920 356.6 - 942 1 3 .8 9 .2 1 6 .4 1 4 .0 613.7 895 Tran sp o rt & Logistics In d i an Privat e 880
956 834 H eu b ach Colorant s In d i a, Mumbai 752.8 - 1 2 .9 6 0 .6 - 1 3 .8 19.2 - 5 5 .7 840 4 3 2 .4 4 .5 789 439.7 4 .9 927 6 9 .2 8 .3 2 0 .8 2 3 6 .2 5 .4 1 0 .7 1181.6 819 Chem icals In d i an Privat e 223
957 - Tap aria To o ls, Mumbai 752.0 3 .7 9 8 .5 1 0 .4 72.3 1 1 .1 673 2 7 0 .4 1 3 .7 880 273.7 1 3 .7 963 4 7 .1 - 1 0 .1 3 6 .8 1 6 .8 2 4 .4 9 .5 2 8 .5 3 7 .7 4.5 999 Aut o An cillaries Tap aria 350
958 990 Gen u s Pap er & Bo ar d s, Delhi/ NCR 751.2 2 5 .3 3 4 .6 - 3 3 .1 - 11.8 ** 901 4 6 6 .5 - 3 .1 776 784.3 1 1 .3 809 2 4 .3 3 7 .4 0 .4 - 8 8 .9 - 2 .5 1 .0 512.5 912 Pap er In d i an Privat e 938
959 - Jay Ush i n , Delhi/ NCR 751.1 1 1 .5 4 6 .9 2 .0 13.3 1 1 .4 854 9 6 .4 1 2 .7 942 219.5 - 0 .6 975 1 .2 0 .0 6 5 .4 1 2 .2 4 .9 1 4 .4 1 4 .6 1 4 .6 296.8 950 Aut o An cillaries In d i an Privat e 685
960 971 Pr akash Pip es, Delhi/ NCR 749.2 1 9 .1 1 0 4 .9 3 0 .2 71.3 5 2 .3 677 2 7 8 .6 1 8 .4 874 291.9 1 9 .7 959 2 .9 0 .0 3 1 .1 1 7 .6 1 8 .2 - 1 0 .5 2 2 .8 2 8 .6 914.3 856 Pet ro ch em icals & Plast ics In d i an Privat e 232
961 - In cred ib le In d u st r i es, Kolkata 748.7 3 9 .4 1 8 .2 5 .8 4.9 3 7 .9 879 1 2 6 .6 4 .0 929 176.6 3 .8 984 6 .9 8 .0 2 .2 - 5 .5 4 .0 7 .2 159.4 979 M i n i n g & M et als Ad hunik 613
962 904 Bed m u t h a In d u st r i es, Nashik 747.7 2 .3 7 8 .5 5 .0 13.0 3 8 .7 856 9 9 .5 1 5 .0 941 373.4 - 3 .1 939 1 8 .9 1 9 .9 8 .5 1 0 .6 487.9 916 M i n i n g & M et als In d i an Privat e 840
963 - Raj sh r ee Sug ars & Ch em icals, Coimbatore 747.4 4 0 .5 5 9 .1 3 5 .3 - 9.0 * 899 2 5 1 .4 - 3 .7 886 652.4 - 5 .3 858 3 9 .2 1 5 .9 2 9 .7 5 0 2 0 . 7 179.5 975 Sug ar LM W - D JV 973
964 950 Orchid Ph ar m a, Chennai 746.0 1 4 .1 1 3 6 .2 1 1 .6 46.3 *** 751 6 8 8 .7 6 .4 681 1032.6 1 1 .5 707 6 5 .4 3 .3 0 .3 1 .5 2850.6 632 Ph ar m aceu t i cal s In d i an Privat e 957
965 - Art em is M ed i car eSer vi ces, Delhi/ NCR 744.8 3 3 .3 1 0 1 .3 4 1 .9 38.6 2 1 .3 779 3 3 1 .2 1 3 .9 842 698.0 2 2 .7 838 6 .0 1 2 0 .8 1 5 .8 1 2 .6 1 1 8 . 0 1 2 .1 1 2 .4 2202.4 700 Healt h care In d i an Privat e 725
966 963 M an ak si a St eels, Kolkata 744.4 1 5 .9 3 1 .3 - 4 8 .9 12.2 - 6 5 .5 863 2 9 0 .4 9 .2 870 340.3 2 3 .0 947 2 2 .5 4 .5 4 .9 - 6 3 . 8 4 .4 6 .8 296.7 951 M i n i n g & M et als In d i an Privat e 453
967 - N ikhil Ad h esi ves, Mumbai 742.7 - 1 0 .4 3 5 .1 - 2 0 .3 17.0 - 3 2 .5 843 1 0 1 .7 1 9 .0 940 139.2 2 0 .6 989 0 .9 0 .0 1 9 .1 4 0 .1 6 .5 - 2 5 . 4 1 8 .2 2 3 .4 543.6 907 Chem icals In d i an Privat e 424
968 860 Bliss GVS Ph ar m a, Mumbai 742.4 - 8 .1 1 3 5 .1 7 7 .2 70.9 3 7 1 .1 679 8 5 0 .4 7 .5 605 988.6 6 .4 721 5 .2 0 .6 8 6 .2 1 3 .2 2 9 .3 - 5 .5 9 .0 1 2 .1 1191.3 816 Ph ar m aceu t i cal s In d i an Privat e 702
969 934 740.1 9 .4 5 3 .4 - 1 0 .8 22.5 - 3 0 .1 829 3 1 0 .2 8 .9 857 333.8 6 .0 949 1 .5 0 .7 1 0 0 .9 9 .1 7 . 4 1 5 0 .5 7 .6 1 0 .0 615.7 894 Ceram icPro d u ct s In d i an Privat e 275
Orient Bel l , Delhi/ NCR
2 3 8 .0 564.0 0 .6 0 .0 2 2 .7 2 2 .5 3 3 .0 2 3 .2 735 In d i an Privat e 882
970 961 Yash o In d u st r i es, Mumbai 739.9 1 5 .1 1 2 6 .0 2 2 .0 67.9 2 9 .8 689 3 7 .5 889 5 9 .6 894 3 8 .6 1 8 .6 1885.8 Chem icals
* 849 Essel 812
971 828 Zee M ed ia Co rp o rat io n, Mumbai 739.8 - 1 5 .6 4 8 .6 - 2 .8 - 68.8 931 3 8 7 .3 1 5 .1 815 618.7 - 1 5 .9 870 2 6 1 .7 1 9 .0 - 4 .0 934.5 M ed ia & En t er t ai n m en t
972 959 Sh r ee Dig vijay Cem ent Co ., Jamnagar 738.7 1 4 .8 1 0 8 .1 - 1 0 .7 58.1 5 .1 714 3 2 5 .0 4 .1 846 336.9 2 .8 948 5 8 .1 1 5 .2 3 9 .0 3 .4 1 3 .4 - 5 9 .3 1 8 .2 2 1 .9 1319.6 801 Cem en t & Bl d g M at er i al s In d i an Privat e 251
1 0 7 9 .0 1167.4 1 1 5 .1 4 .9 1 7 .0 - 6 0 .7 5 .1 6 .5 858 In d i an Privat e 820
973 874 Glost er, Kolkata 737.9 - 5 .5 1 0 9 .1 - 2 4 .4 54.4 - 1 6 .7 723 0 .8 518 7 .1 661 7 6 .6 2 9 9 .9 909.1 Text ile & Gar m en t s
8 7 0 .2 1030.7 2 8 9 .4 2 4 .5 1 2 .7 2 4 .9 2 8 .3 384 In d i an Privat e 706
974 958 KFin Tech n o lo g ies, Hyderabad 737.5 1 4 .2 3 1 5 .6 7 .4 195.7 3 1 .8 424 3 5 .1 600 2 6 .8 708 6 2 .5 8408.2 M i scel l an eo u s
2 6 1 8 .4 2672.0 6 .7 1 7 .5 - 9 3 .5 0 .2 0 .3 938 In d i an Privat e 902
975 - V LE- Go v e r n an c e & IT So l u t i o n s, Mumbai 732.3 2 5 .1 8 .1 - 9 4 .1 5.9 - 9 4 .3 878 0 .2 281 2 .3 382 2 .2 350.6 Tech n o l o g y- So f t w ar e
870 In d i an Privat e 137
976 986 Ka m d h e n u , Delhi/ NCR 732.1 2 1 .2 6 1 .6 3 6 .9 41.0 5 3 .3 766 1 6 6 .7 - 2 5 . 7 918 179.1 - 4 6 .3 983 4 .0 5 0 .2 4 2 .0 1 2 .9 1 3 .9 4 1 .7 2 1 .0 2 2 .2 794.8 M i n i n g & M et als
630 In d i an Privat e 460
977 965 M o l d - Tek Packag in g , Hyderabad 730.7 1 3 .9 1 3 6 .9 1 1 .9 80.4 2 6 .3 654 5 5 8 .7 2 2 .2 737 610.0 2 0 .7 874 1 9 .9 - 2 0 .4 4 3 .6 1 2 .7 2 2 .3 - 2 .5 1 5 .8 1 9 .1 2925.4 Pet ro ch em icals & Plast ics
304 In d i an Privat e 819
978 941 Aet h er In d u st r i es, Surat 729.9 9 .3 2 0 2 .8 1 5 .8 130.4 1 9 .7 525 1 2 4 4 . 6 2 2 1 .7 483 1260.3 8 6 .0 641 3 4 .5 2 7 .4 4 4 .1 1 7 .4 1 6 .0 1 8 .5 11691.1 Chem icals
695 Pi r am al M P 894
979 - M ar at h o n N ext g en Realt y, Mumbai 729.8 8 7 .1 2 8 1 .8 1 5 0 .4 121.0 2 1 4 .1 552 7 7 7 .1 2 0 .7 638 1732.0 - 2 .2 530 4 .6 1 0 1 .3 1 2 .6 2 1 .3 4 3 .3 2 7 8 .7 1 5 .7 1 5 .9 2266.8 Realt y
988 In d i an Privat e 884
980 806 Dam o d ar In d u st r i es, Mumbai 729.5 - 2 1 .5 5 0 .7 - 3 7 .9 0.8 - 9 5 .6 890 1 1 5 .0 - 0 .4 935 413.1 - 4 .0 933 3 8 .6 1 .4 1 .1 - 8 9 .8 0 .3 6 .2 117.0 Text ile & Gar m en t s
903 N ahar Gro up 647
981 - N ah ar Po l yf i l m s, Ludhiana 728.0 4 5 .0 8 6 .6 - 3 0 .1 43.2 - 5 5 .8 758 7 7 9 .4 - 1 4 .6 637 942.9 - 1 3 .2 737 3 .8 - 4 0 .1 2 0 .3 3 1 .4 1 1 .0 - 6 1 .7 3 .7 5 .4 563.2 Packag in g
803 Jo i n t Sect o r - PJ 645
982 - Prim o Ch em icals, Chandigarh 728.0 5 1 .9 2 1 8 .5 1 1 4 .6 137.4 1 3 2 .1 507 3 7 7 .3 5 6 .8 820 562.0 6 3 .4 896 2 3 .5 3 4 .9 5 2 .5 1 7 9 .1 4 3 .4 4 6 .6 1291.5 Chem icals
629 In d i an Privat e 896
983 864 Gu f i cBi o Sci en ces, Mumbai 726.6 - 9 .4 1 3 7 .2 - 9 .2 79.7 - 1 6 .8 656 3 4 7 .8 2 9 .2 836 700.3 9 9 .6 836 1 .0 0 .0 8 6 .7 1 .3 2 7 .0 - 1 2 .8 2 5 .8 2 1 .9 2933.0 Ph ar m aceu t i cal s
984 917 Po k ar n a, Secunderabad 725.3 3 .4 1 8 2 .3 - 0 .4 65.8 - 1 6 .0 695 5 0 7 .2 1 4 .5 758 975.4 0 .2 724 1 .9 0 .0 5 8 .6 1 0 .9 2 5 .1 6 .4 1 3 .9 1 4 .4 1608.5 766 M i scel l an eo u s In d i an Privat e 854
985 992 M an o m ay Te x In d i a, Bhilwara 722.1 2 0 .7 4 1 .9 4 2 .1 13.0 6 8 .0 857 1 1 5 .9 7 0 .9 933 263.6 2 4 .5 966 1 7 .8 1 2 .6 3 .2 - 2 4 .6 1 4 .1 1 2 .8 241.5 963 Text ile & Gar m en t s In d i an Privat e 866
986 - Shera Energ y, Jaipur 721.9 3 0 .9 4 0 .0 1 6 .5 9.1 3 7 .6 870 7 0 .6 2 4 .0 946 202.7 9 .1 980 9 .2 3 5 .1 3 .4 1 4 .3 1 1 .7 1 8 .0 373.2 934 M i n i n g & M et als In d i an Privat e 829
987 913 M an ak si a Coated M et als & In d s, Hyderabad 721.3 1 .4 4 2 .8 - 1 .4 9.4 8 .6 869 1 1 9 .3 9 .7 931 313.5 1 .7 956 0 .2 1 7 .4 4 .4 2 .4 - 1 3 .3 5 .0 9 .3 182.2 973 M i n i n g & M et als In d i an Privat e 909
988 - Allcarg o Ter m i n al s, Mumbai 720.8 4 5 6 .7 1 5 8 .5 1 0 1 4 .0 57.6 1 7 7 4 .9 718 1 9 3 .6 622.7 4 2 9 .4 868 6 9 .5 2 6 0 .9 1 6 .8 6 7 5 .1 5 6 .4 2 9 .0 1140.0 823 M i scel l an eo u s In d i an Privat e 867
989 - Asso ciat ed Alco h o ls & Br ew er i es, Indore 720.3 3 6 .2 7 1 .3 - 2 6 .0 41.6 - 3 1 .7 765 3 6 3 .4 1 6 .2 831 465.2 4 5 .5 920 1 .8 0 .0 3 5 .3 1 1 .9 1 3 .9 - 3 1 .6 1 2 .3 1 4 .5 842.9 862 Dist illers & W i n er i es In d i an Privat e 616
990 9 4 8 In d ia Po w er Co rp o rat io n, Kolkata 718.4 9 .5 8 7 .8 5 .9 15.8 2 .9 846 1 0 0 5 .8 2 6 .5 548 1449.5 - 2 2 .6 588 4 .9 0 .0 4 9 .5 4 .0 5 .0 - 1 4 .3 1 .3 3 .5 1831.9 742 Po w er In d i an Privat e 850
885 Chem icals Jo in t Sect o r
991 776 A n d h r a Pet r o ch em i cal s, Tanuku 716.8 - 2 8 .3 5 3 .3 - 8 3 .5 20.4 - 9 1 .0 834 5 0 5 .2 0 .3 759 598.5 0 .5 880 1 2 .8 - 5 0 .0 2 5 .6 - 3 .3 8 .9 4 .1 6 .4 680.5 855
- In d i an Privat e
992 Krit i Ind ust ries (In d i a), Indore 716.0 2 3 .4 - 4 .4 ** - 23.0 ** 911 1 3 0 .1 1 5 .6 928 254.8 - 0 .6 967 2 8 .0 3 0 .2 - 7 .3 - 1 6 .2 - 5 .3 508.6 913 Pet ro ch em icals & Plast ics 637
In d i an Privat e
993 - Om In f r a, Delhi/ NCR 708.2 7 6 .4 6 7 .3 3 .2 12.9 - 5 1 .4 859 6 3 7 .1 - 3 .7 709 841.7 1 .2 780 4 .8 1 0 0 .0 2 9 .7 1 7 .0 1 9 .3 7 1 0 .5 1 .0 5 .2 1071.9 828 Capit al Go o d s 870
In d i an Privat e
994 - Gan esh Ho u si n g Co rp o rat io n, Ahmedabad 706.6 5 9 .7 2 5 6 .3 8 9 .1 100.1 4 1 .7 602 1 0 4 1 .3 4 8 .2 535 1119.1 1 8 .6 680 2 0 .0 1 5 .3 2 7 .2 1 3 7 .9 4 1 7 .1 1 0 .8 2 4 .6 3312.1 602 Co nst ruct io n & Inf rast ruct ure 775
In d i an Privat e
995 - East ern Logica In f o w ay, Kolkata 706.0 1 1 .6 1 1 .7 3 5 .6 3.5 3 9 .8 881 5 3 .2 5 3 .1 949 117.7 2 4 .1 990 4 .9 0 .8 1 .4 6 0 .2 8 .0 1 0 .9 193.1 970 Ret ail 887
In d i an Privat e
996 9 2 6 Baj aj Heal t h car e, Mumbai 704.7 2 .9 1 0 8 .6 - 9 .6 43.0 - 3 9 .7 759 3 6 7 .7 1 1 .9 827 785.7 3 3 .7 807 2 .8 - 3 3 .3 4 7 .8 1 6 .4 1 5 .2 - 1 7 .0 1 2 .4 1 1 .8 1123.1 825 Ph ar m aceu t i cal s 967
Ash i an a
997 907 A sh i an a Ho u si n g , Delhi/ NCR 704.6 - 2 .9 4 5 .8 *** 27.9 *** 808 7 5 9 .7 3 .2 650 998.0 4 .4 717 5 .1 - 4 4 .4 4 5 .0 2 1 .4 6 .4 3 .7 3 .8 2417.2 679 Realt y 826
In d i an Privat e
998 - Su p er sh akt i M et al i ks, Kolkata 704.5 1 0 .8 5 3 .2 6 6 .1 33.3 8 7 .9 796 2 3 7 .3 3 2 .7 890 249.9 2 3 .7 968 1 .2 9 8 .3 1 0 .7 1 0 .5 1 1 .4 1 0 3 .6 1 6 .0 2 1 .4 539.6 908 M i n i n g & M et als 245
In d i an Privat e
999 978 2 0 M icro ns, Mumbai 704.2 1 4 .3 8 8 .8 8 .9 41.8 2 0 .9 763 2 9 2 .6 1 6 .7 869 401.9 7 .0 936 2 .7 5 5 .5 1 9 .1 1 5 .2 1 8 .1 1 5 .4 1 9 .3 573.5 901 M i n i n g & M et als 566
In d i an Privat e
1000 9 6 8 Sw ast i k Pip e Lt d , Delhi/ NCR 703.6 1 1 .2 3 3 .1 - 2 6 .3 9.1 - 6 7 .6 871 2 0 8 .3 4 7 .0 902 320.7 2 4 .9 953 1 5 .8 2 9 .0 3 .1 5 .2 9 .9 237.8 964 M i n i n g & M et als 922
Gr an d To t al 11887559.1 22.7 1798568.1 1.0 726693.8 - 7 .3 - 5167951.3 6 .4 10475819.4 8 .9 359040.7 2 5 .9 1127531.2 1 5 .6 255524.9 - 2 .1 1 4 .1 1 2 .6 2 4 3 5 9 0 3 6 .8
Averag e 11983.0 2 2 .7 1813.4 1 .0 732.5 - 7 .3 - 5208.2 6 .4 10562.6 8 .9 362.2 2 5 .9 1137.1 1 5 .6 257.6 - 2 .1 1 4 .1 1 2 .6 2 4 5 5 9 .7
M ed i an 2404.3 1 5 .5 320.6 4 .5 142.2 1 .6 - 1,193.9 1 6 . 1 1871.8 8 .3 15.8 3 3 .0 189.7 1 4 .8 46.0 8 .3 1 1 .9 1 3 .3 5 2 0 4 .5
Direct t a x i n cl u d es d i v i d e n d d i st r i b u t i o n t a x ; Fig u res i n ~ cr o r e; A l l % CHG are y e a r - o n - y e a r ; * * * Tu r n e d f r o m lo ss to p r o f i t ; * * Pr o f i t to l o ss; * Loss i n b o t h y ear s utsrnieda

5 8 Business Standard
M arch 2 02 4 59
SECTOR PERFORMANCE
!!1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank

29 AEROSPACE & DEFENCE

1 Hind ust an Aeronaut ics 59 29291.2 5 8 2 7 .7 2 3 5 6 8 .4 3 6 4 2 2 .0 36 17 1 0 0 6 2 6 132

8
2 Bharat Electronics 76 18408.5 2 9 8 4 .4 1 3 8 4 3 .9 1 4 9 0 6 .7 55 13 0 0 8 0 2 5 7 62
3 Garden Reach Shipbuilders 447 2758.3 2 2 8 .1 1 4 1 3 .8 1 8 2 3 .4 58 11 0 0 17 0 1 3 3 108
4 Bharat Dynamics 465 2663.8 3 5 2 .2 3 2 1 1 .5 6 4 7 2 .0 45 20 1 0 12 0 3 5 6 340
5 Cochin Shipyard 470 2634.8 3 0 4 .7 4 4 2 7 .7 5 0 5 9 .7 43 13 1 0 23 2 3 4 5 314
TOTAL - 55756.6 9697.2 46465.3 64683.8 44 15 1 0 15 0 4 4 6 -
SHARE N BS1000 - 0.5 1.3 0.9 0.6 0.4 0.7 0.0 0.1 0.4 0.0 0.5 0.8 1.0 -

22 AGRO CHEM ICALS

1 UPL 35 54210.0 3 5 7 0 .0 2 4 2 5 9 .0 5 4 6 5 9 .0 50 9 2 2 17 5 5 1 1 559
2 PI Industries 222 6727.5 1 2 2 9 .5 7 1 9 8 .5 7 2 9 0 .7 54 8 3 1 9 1 3 3 2

18
3 Bayer CropScience 273 5310.5 7 5 8 .2 2 7 1 2 .1 2 9 3 7 .9 46 10 0 6 17 0 1 4 11 41
4 Sharda Cropchem 324 4392.4 3 4 2 .0 2 2 3 1 .7 2 2 3 9 .4 72 1 - 0 11 0 6 2 1 61
5 Rallis India 425 2895.7 9 1 .9 1 7 3 0 .1 1 9 0 9 .7 60 9 3 - 19 0 3 1 2 214
6 M eg hm ani Organics 460 2695.2 2 3 7 .7 1 6 6 9 .2 2 5 3 1 .5 57 4 8 - 14 2 3 3 1 634
7 NACL Industries 544 2167.4 9 4 .9 5 7 3 .9 1 3 1 1 .2 76 6 3 1 6 2 1 2 1 881
8 Insecticides India 593 1928.8 6 3 .2 9 1 8 .3 1 0 8 2 .8 73 5 2 0 14 1 1 1 0 542
9 Best Agrolife 605 1873.0 1 9 2 .2 5 1 4 .6 1 0 9 7 .1 42 3 0 0 38 2 1 3 0 832
10 Dhanuka Agritech 625 1750.9 2 3 3 .5 1 0 6 1 .3 1 1 1 2 .8 59 7 0 1 14 0 1 4 1 149
11 Jub ilant Inds 674 1507.8 6 2 .1 2 0 3 .4 4 1 4 .7 65 7 2 3 15 1 1 1 - 754
12 Heranba Industries 722 1364.4 1 0 4 .4 8 1 0 .4 9 1 2 .4 67 5 6 - 9 1 2 2 0 603
13 Bharat Rasayan 742 1285.0 1 2 4 .6 8 9 3 .3 9 2 2 .6 67 5 2 0 10 0 2 4 0 169
14 Kaveri Seed Company 795 1108.6 2 7 1 .7 1 3 6 2 .8 1 3 9 7 .8 49 9 - 0 14 0 2 1 2 246
15 Excel Industries 800 1099.2 7 9 .9 1 2 4 1 .8 1 2 5 7 .6 55 10 8 - 15 0 3 2 1 354
16 India Pesticides 858 966.4 1 4 3 .2 7 7 3 .2 7 8 7 .3 56 4 4 0 15 1 1 5 1 392
TOTAL - 91282.6 7599.1 48153.4 81864.5 54 8 2 2 16 4 4 2 2 -
SHARE N BS1000 - 0.8 1.0 0.9 0.8 0.8 0.7 0.3 2.1 0.6 1.1 0.7 0.7 0.5 -

26 AIRLIN ES
1 Interglobe Aviat ion 33 55882.7 - 3 0 5 .8 - 6 2 4 6 .5 4 7 9 4 8 .3 1 9 42 - 34 6 9 0 - 584
2 SpiceJet 151 9904.3 - 1 5 1 2 . 8 - 5 8 5 0 .0 2 0 0 1 .1 1 9 48 - 42 5 10 - - 744
TOTAL - 65787.0 - 1818.6 - 12096.5 49949.4 1 9 43 - 35 6 9 0 - -
SHARE N BS1000 - 0.6 - 0.3 - 0.2 0.5 0.0 0.5 4.2 - 1.0 1.2 1.3 0.0 - -

8 AUTO ANCILLARIES
1 Sam vard hana M otherson 25 79281.2 1 4 9 5 .6 2 0 5 2 6 .1 3 7 8 5 7 .6 58 23 3 - 9 1 4 1 1 372
2 TVS Holdings 52 33954.0 6 4 9 .7 4 3 6 .8 2 9 3 3 9 .1 64 9 1 2 11 4 3 2 0 924
3 Bosch 100 15542.2 1 4 2 5 .5 1 1 0 0 5 .1 1 1 2 4 4 .9 62 7 1 0 15 0 2 3 9 31
4 Exide Industries 101 15513.2 8 2 2 .7 1 1 1 2 3 .3 1 1 8 7 4 .5 69 6 4 - 10 1 3 2 1 160
5 Bharat Forge 120 13353.2 5 2 8 .4 6 6 6 9 .5 1 5 0 0 1 .7 47 12 6 - 21 2 6 2 2 580
6 Uno M inda 131 11606.6 6 5 3 .6 3 8 7 7 .5 5 7 2 3 .2 64 13 3 0 8 1 4 2 1 227
7 Am ara Raja Energy & M obility 146 10419.5 6 9 4 .5 5 2 9 9 .2 5 6 3 2 .5 68 6 3 0 9 0 4 2 1 29
8 End urance Technologies 163 8944.1 4 7 9 .6 4 4 1 2 .1 5 0 8 9 .1 61 9 4 0 14 0 5 2 1 46
9 CIE Aut om ot ive India 164 8936.1 - 1 3 6 .2 5 0 9 8 .5 6 3 0 5 .4 54 10 5 - 25 0 3 3 1 212
10 M otherson Sum i Wiring India 209 7148.6 4 8 7 .0 1 3 3 0 .5 1 7 4 7 .2 66 17 0 - 6 0 2 2 4 147
11 Schaeffler India 212 7016.0 8 7 9 .2 4 2 8 5 .9 4 3 4 6 .5 61 6 1 - 11 0 3 4 5 22
12 Varroc Engineering 216 6941.3 - 8 1 9 .8 9 4 8 .3 2 8 4 3 .1 64 10 3 - 26 3 5 1 - 497
13 Sund ram Fasteners 258 5772.9 4 9 4 .7 2 9 9 7 .4 3 7 6 7 .1 44 9 4 - 27 1 3 3 3 168
14 Wheels India 304 4730.5 5 8 .1 7 5 1 .2 1 5 5 7 .9 74 9 4 - 8 2 2 0 0 449
15 SKF India 325 4386.4 5 2 4 .9 2 3 4 1 .4 2 3 8 8 .1 59 7 1 1 14 0 2 5 5 13
16 M inda Corporation 326 4341.3 2 8 4 .5 1 5 8 6 .1 2 3 4 6 .8 65 14 2 0 8 1 3 0 1 320
17 Asahi India Glass 335 4126.7 3 6 4 .9 2 0 9 5 .9 3 5 0 5 .7 35 8 15 - 22 3 4 5 1 485
Steel Strips Wheels 338 4077.6 1 9 3 .8 1 0 8 1 .9 1 8 7 1 .8 66 7 3 0 13 2 2 2 0 341
8

19 JBM Aut o 349 3896.8 1 2 4 .4 1 0 2 8 .7 2 7 5 7 .0 70 11 2 - 7 3 3 1 0 530

20 ZF Commercial Vehicle CS 371 3511.2 3 1 7 .7 2 4 0 9 .1 2 4 8 6 .6 63 11 1 - 11 0 3 3 1 51
21 Ram krishna Forgings 383 3365.4 2 4 8 .1 1 3 2 1 .8 2 6 9 9 .6 48 5 6 0 21 4 6 4 1 510
22 Craftsman Aut om at ion 393 3265.8 2 4 8 .4 1 3 1 5 .9 2 6 2 0 .9 52 7 5 - 14 4 7 3 1 518
23 Gabriel India 417 3008.4 1 3 2 .4 8 7 0 .3 8 9 4 .6 76 6 1 - 9 0 2 2 1 34
24 Sand har Technologies 423 2927.8 7 3 .0 9 1 6 .0 1 6 1 5 .9 63 13 4 - 12 1 4 1 1 479
25 Tim ken India 428 2865.4 3 9 0 .8 2 0 3 7 .2 2 1 3 2 .7 58 6 1 - 13 0 3 5 0 171
26 Subros 436 2814.3 4 7 .9 8 6 7 .3 8 9 8 .9 76 9 1 - 7 0 4 1 0 101
27 Suprajit Engineering 442 2793.4 1 5 2 .1 1 2 2 4 .5 1 9 5 7 .9 58 21 1 0 7 1 3 2 1 442
28 Sharda Motor Industries 450 2745.0 2 0 8 .3 7 5 7 .9 7 9 1 .3 79 4 0 - 5 0 2 3 2 233
29 Shriram Pistons & Rings 466 2647.8 2 9 3 .5 1 5 0 3 .7 1 8 9 9 .2 41 16 5 - 19 1 4 4 1 228

Bnsinei
U U M arc
 VALUE yxwvutsrponmlkihgfedcbaTSB
That little addition
which changes the dynamics
of everything ... ywvutsrponmlkihgfedcbaUTSRPNMLIHF

Timely action during financial distress,

helps avert a full blown crisis

Small & timely interventions can help you avert a full-blown financial crisis later. The good
news is, at Sumedha, we have effective financial plans to suit every need and budget.
Since our inception more than three decades ago, we have been maintaining transparency
in our dealings, going that extra mile to ensure greater success and standing by you
through thick and thin.

Bring that little in your business with Sumedha and experience the change yourself.

Values
we stand
by at
Sumedha
part ne yvutsrqonmlkigfedcbaSRPMIFEDBA

• Investment Banking • Mergers & Acquisitions • Private Equity • Financial Restructuring

• Debt Syndication • Insolvency Professional Entity • Resolution Professional wutsrponml

Registered & Corporate Office:

Sumedha Fiscal Services Ltd.
CIN : L70101WB1989PLC047465
Sumedha M anagement Solut ions Pvt. Ltd.
CIN : U93000WB2017PTC219387
0
8B Middleton Street, 6A Geetanjali
Kolkata 700 071 (India)
SUMEDHA
ad d ing values t o value
T: + 91 33 6813 5900

E: info@sumedhafiscal.com Ahmedabad Bangalore Mumbai New Delhi

W: www.sumedhafiscal.com +91 7948905388 +91 8041242545 +91 2240332400 +91 1141654481
SEBI Registered M erchant Banker: M B/ INM 000008753* IPE No. IBBI/ IPE/ 0020
SECTOR PERFORMANCE US1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
30 Sona BLW Precision Forgings 467 2646.8 3 9 5 .3 2 2 9 0 .2 2 6 0 2 .6 45 7 2 - 20 1 7 4 6 384
31 ASK Aut om ot ive 476 2583.1 1 2 3 .0 6 4 3 .8 9 9 7 .3 70 5 4 - 12 0 2 2 - 239
32 Banco Products India 477 2568.4 2 3 5 .6 1 0 0 1 .0 1 4 3 0 .0 61 9 2 - 14 0 2 3 6 531
33 Sansera Engineering 490 2425.0 1 4 6 .2 1 1 5 3 .9 2 0 2 3 .8 45 13 4 - 21 3 5 2 1 569
34 Lum ax Industries 497 2402.5 1 0 3 .1 5 8 3 .6 1 0 5 5 .3 61 11 3 - 14 1 3 2 1 473
35 Rane (M adras) 501 2383.5 3 0 .0 2 4 1 .7 9 3 9 .2 59 12 3 0 18 1 4 1 - 711
36 Jam n a Auto Industries 503 2375.2 1 6 8 .4 7 8 4 .3 8 4 5 .9 67 6 7 - 8 0 2 3 3 56
37 Jay Bharat M aruti 508 2342.4 3 7 .9 5 0 8 .1 8 5 4 .9 79 8 2 - 4 2 3 1 0 365
38 Aut om ot ive Axles 510 2335.0 1 6 2 .0 7 5 9 .3 7 9 1 .3 72 5 1 - 10 0 2 2 2 96
39 Rico Aut o Industries 514 2321.9 4 9 .0 6 8 6 .9 1 4 6 2 .8 59 13 8 - 11 2 5 1 0 691
40 LG Balakrishnan & Br o s 530 2246.0 2 5 1 .9 1 3 6 3 .0 1 4 8 4 .5 46 14 4 0 17 0 4 4 2 201
41 M unjal Aut o Industries 560 2112.7 5 6 .1 3 7 4 .3 7 0 6 .7 75 8 2 - 8 1 3 1 1 582
42 JTEKT India 573 2057.8 8 1 .4 6 7 1 .8 7 7 4 .2 71 11 1 - 8 0 4 1 1 164
43 Pricol 588 1983.5 1 2 4 .7 7 0 4 .3 8 3 1 .6 70 11 1 - 5 1 4 1 - 439
44 Lum ax Aut o Technologies 606 1871.0 9 2 .9 4 7 4 .6 1 3 3 7 .0 64 11 1 0 13 1 3 2 2 688
45 Fiem Industries 611 1855.0 1 3 9 .8 7 6 1 .2 7 9 8 .2 61 13 3 0 9 0 3 3 2 167
46 Federal- M ogul Goetze 643 1655.3 1 0 0 .9 9 0 8 .0 1 0 2 0 .3 39 21 6 - 20 0 5 2 - 265
47 GNA Axles 652 1589.1 1 3 0 .2 7 1 4 .5 9 1 7 .8 66 4 5 0 10 1 3 3 1 405
48 M M Forgings 665 1534.5 1 2 7 .9 6 7 2 .7 1 4 3 3 .2 48 8 8 - 17 2 5 3 1 730
49 Alicon Castalloy 702 1414.9 5 1 .4 4 8 7 .9 7 9 4 .7 51 12 7 - 20 2 4 1 1 664
50 Harsha Engineers Int ernat ional 711 1393.1 1 2 3 .3 1 0 7 1 .8 1 2 6 5 .0 53 11 3 0 17 1 3 3 1 577
51 Uniparts India 713 1391.4 2 0 4 .9 8 3 0 .6 9 0 9 .1 36 17 4 0 21 0 3 5 5 221
52 M unjal Sh o w a 744 1279.8 3 1 .9 6 5 1 .2 6 6 1 .2 76 8 3 - 9 0 1 1 1 289
53 Nelcast 745 1279.2 2 9 .7 4 6 5 .7 7 7 2 .1 49 5 10 0 28 2 2 1 0 630
54 Rolex Rings 773 1184.4 1 9 8 .1 7 4 3 .0 8 4 5 .6 49 5 6 - 16 1 2 4 - 332
55 The Hi-Tech Gears 776 1169.7 2 3 .1 3 5 4 .4 8 1 6 .5 51 19 3 - 15 3 7 1 0 810
56 NRB Bearings 782 1145.2 9 4 .0 6 5 3 .1 9 9 7 .7 41 14 4 0 24 2 4 3 1 656
57 Precision Camshafts 786 1132.6 4 6 .3 7 1 6 .5 8 2 7 .0 44 16 9 0 18 1 7 1 1 503
58 Bharat Seats 819 1055.0 2 1 .6 1 4 6 .3 2 1 2 .8 85 4 1 - 5 0 2 1 0 308
59 Aut om ot ive St am pings 910 834.5 8 .3 - 2 7 .4 5 9 .4 80 5 1 - 9 2 2 - - 710
60 Ucal 916 826.6 0 .9 3 9 3 .3 6 2 1 .6 53 20 2 - 17 3 5 1 1 704
61 Bharat Gears 937 782.7 1 3 .5 1 2 0 .6 2 6 4 .5 53 15 7 - 18 2 3 1 - 714
62 India Motor Parts & Accessories 949 768.5 7 5 .1 1 3 6 8 .1 1 3 7 7 .7 80 4 0 - 3 0 0 2 4 499
63 Taparia Tools 957 752.0 7 2 .3 2 7 0 .4 2 7 3 .7 61 5 2 3 16 0 0 3 6 350
64 JayUsh i n 959 751.1 1 3 .3 9 6 .4 2 1 9 .5 78 9 1 - 6 2 2 1 0 685
TOTAL - 338381.8 14880.8 123757.7 206421.2 60 13 3 0 13 1 4 2 2 -
SHARE N BS1000 - 2.8 2.0 2.4 2.0 3.1 3.8 1.5 1.3 1.9 1.4 2.5 2.6 1.4 -

_4
1 Tata Motors 6 357316.6 2 4 1 4 .3 3 8 0 4 4 .1 2 1 0 2 1 8 .5 65 9 1 2 13 3 7 0 0 478
2 M ahind ra & M ahind ra 18 129004.2 1 0 2 8 1 .5 4 5 6 4 9 .5 1 5 7 3 2 4 .4 59 8 1 1 13 5 3 2 2 835
3 M aruti Suzuki India 20 120293.3 8 2 1 1 .0 6 1 7 9 1 .3 6 5 7 1 2 .0 72 4 1 1 12 0 2 2 2 7
4 Ashok Leyland 40 43132.5 1 2 4 0 .8 6 3 0 9 .1 4 0 7 7 5 .9 68 8 1 11 5 2 2 2 868
5 Bajaj Auto 44 38272.5 6 0 6 0 .2 2 9 3 6 1 .5 2 9 5 2 0 .6 69 4 0 1 5 0 1 5 10 17
6 Hero MotoCorp 51 34894.2 2 8 1 0 .0 1 6 5 3 0 .5 1 7 6 2 1 .3 69 6 0 3 8 0 2 3 6 14
7 TVS Motor Company 54 32252.9 1 3 2 8 .7 5 1 0 0 .2 2 8 1 4 9 .0 65 9 0 2 10 4 3 2 1 760
8 Eicher Motors 102 15415.7 2 9 1 3 .9 1 4 9 9 0 .3 1 5 8 2 9 .4 54 6 0 0 11 0 3 6 7 75
9 Escorts Kubota 166 8873.3 6 3 6 .8 8 1 9 0 .6 8 3 2 1 .0 71 7 1 1 10 0 2 2 1 288
10 Force Motors 269 5407.2 1 3 3 .6 1 8 7 2 .9 2 8 6 1 .7 73 8 1 0 8 1 4 3 0 258
11 SM LISUZU 592 1933.8 1 9 .8 1 7 8 .0 4 9 5 .5 81 9 1 - 5 1 2 0 - 557
12 Olectra Greentech 788 1130.5 6 5 .6 8 3 8 .4 9 9 7 .5 75 5 0 0 6 3 3 2 0 765
TOTAL - 787926.7 36116.2 228856.4 577826.7 65 8 1 1 12 3 5 1 2 -
SHARE N BS1000 - 6.6 5.0 4.4 5.5 7.9 5.3 0.7 14.3 4.2 6.5 7.5 4.4 3.8 -

10 CAPITAL GOODS
1 Bharat Heavy Electricals 67 23966.7 4 7 7 .4 2 6 8 2 8 .0 4 1 4 3 8 .1 44 24 2 - 25 3 0 1 620
2 KE C Int ernat ional 89 17214.3 1 7 6 .0 3 7 7 1 .4 7 1 7 9 .4 40 8 1 - 45 4 0 0 344
3 Siem ens 94 16795.0 1 5 4 2 .9 1 1 6 0 2 .6 1 2 1 1 1 .5 48 11 0 0 27 0 3 2 36
4 Kalpat aru Projects Int ernat ional 97 16539.8 4 4 0 .8 4 7 4 7 .4 9 4 6 3 .9 42 9 2 - 38 4 1 1 484
5 Apar Industries 108 14724.3 6 3 7 .7 2 2 3 6 .4 2 6 2 9 .9 75 1 1 0 14 2 1 1 52
6 ABB India 160 9187.8 1 0 1 6 .2 4 9 3 9 .4 4 9 8 0 .0 59 7 0 - 18 0 4 1 10
7 Suzlon Energy 173 8554.9 2 8 4 9 .0 1 0 9 9 .1 3 2 2 5 .2 42 7 1 0 8 5 0 - 516
8 Cummins India 177 8414.9 1 2 2 8 .2 5 7 5 8 .2 6 2 8 3 .5 64 8 0 - 8 0 4 8 74
9 Therm ax 183 8220.7 4 5 0 .3 3 8 6 5 .9 4 8 1 7 .6 56 12 1 0 22 0 2 1 125
10 Jain Irrigation Systems 196 7725.2 8 2 7 .7 5 0 8 5 .5 9 1 9 3 .1 42 7 3 0 28 6 0 - 907

Business Standard
M arch 202 4
 LIN COLN UTSRPOMLIHFEDCA

PHARMACEUTICALS LTD.
H E A L T H C A R E FOR A L L utsonmlihecbaWPLHE

" Lincoln House" ,ywutrponmljihfedcbaSRIGCA

Science City Road, Sola, Ahmedabad-380 060. Gujarat, India
Phone:+91-79-41078000/41078064
E- m ai l : info@lincolnpharma.com I Websit e : www.lincolnpharma.com
SECTOR PERFORMANCE US 1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
11 Electrosteel Castings 201 7520.5 3 1 5 .8 4 3 8 1 .5 7 1 5 6 .7 55 6 4 - 24 4 2 1 1 644
12 CG Po wer & Industrial Solut ions 207 7261.0 9 6 2 .7 1 7 8 9 .6 1 8 5 2 .4 67 6 1 - 9 0 1 3 3 66
13 KEI Industries 217 6932.4 4 7 7 .4 2 5 8 9 .2 2 7 6 5 .9 73 3 1 0 12 1 1 2 0 53
14 Sterlite Technologies 219 6836.0 1 4 1 .0 2 0 8 7 .0 5 9 8 4 .0 46 13 3 - 25 5 5 1 1 795
15 Black Box 229 6461.6 2 3 .7 2 9 6 .0 1 0 6 0 .3 34 41 0 1 20 2 2 0 - 614
16 ISGEC Heavy Engineering 242 6127.8 1 9 6 .5 2 2 1 6 .5 3 8 3 3 .3 59 8 1 - 25 1 2 1 0 467
17 AIA Engineering 283 5118.3 1 0 5 5 .9 5 6 8 2 .4 6 2 0 7 .0 40 3 7 0 21 0 2 6 3 198
18 Kirloskar Oil Engines 285 5108.1 3 3 2 .4 2 3 0 3 .6 5 6 2 8 .5 62 7 1 0 15 4 2 2 1 886
19 Lakshm i M achine Works 293 4943.9 3 8 4 .0 2 3 3 8 .6 2 6 7 2 .8 62 8 1 - 17 - 2 3 2 30
20 Carborundum Universal 299 4855.6 4 1 4 .0 2 6 9 2 .7 3 2 0 1 .7 37 14 10 0 22 0 4 3 1 129
21 Finolex Cables 308 4662.3 5 0 4 .3 4 3 7 0 .4 4 3 9 4 .4 76 3 1 1 4 0 1 3 2 121
22 Hitachi Energy India 312 4579.5 9 3 .9 1 2 1 5 .3 1 5 5 1 .8 61 9 1 - 22 1 2 1 0 184
23 BEM L 351 3884.9 1 5 7 .9 2 4 2 1 .9 3 5 9 5 .6 54 22 1 0 13 1 2 3 1 394
24 Graphite India 356 3809.6 1 9 9 .4 4 9 6 2 .8 5 3 9 8 .1 49 8 15 - 18 0 1 3 4 576
25 Kirloskar Brothers 358 3775.4 2 3 4 .9 1 4 0 0 .5 1 7 9 6 .9 52 15 2 1 19 1 2 2 1 145
26 Power M ech Projects 363 3634.9 2 0 9 .1 1 2 7 4 .0 1 9 3 2 .9 - 15 2 - 72 2 1 2 0 376
27 Praj Industries 365 3601.6 2 3 9 .8 1 0 7 7 .9 1 1 3 3 .9 62 7 0 0 21 0 1 2 2 39
28 Ho neywell Aut o m at io n 366 3592.8 4 3 8 .0 3 1 8 8 .5 3 2 4 2 .2 51 17 0 - 13 0 1 4 2 97
29 Elgi Eq uip m ent s 392 3292.6 3 7 0 .8 1 3 7 1 .2 1 9 6 5 .2 49 17 1 1 14 1 2 4 2 274
30 GM M Pfaudler 394 3264.8 1 6 6 .6 7 9 2 .8 2 0 7 0 .4 40 24 3 0 18 2 4 2 0 612
31 Vindhya Telelinks 403 3162.0 1 8 5 .3 3 1 9 3 .0 4 0 9 1 .2 19 3 0 - 67 2 1 2 1 724
32 Electrotherm (Ind ia) 409 3070.9 - 1 1 .8 - 1 0 9 6 .2 9 1 1 .6 74 5 4 0 13 2 2 0 - 813
33 HEG 412 3052.0 5 3 2 .4 4 2 8 0 .9 5 0 3 0 .3 43 3 11 - 17 1 3 5 5 551
34 Va Tech W ab ag 413 3031.7 1 2 .9 1 5 7 5 .2 1 9 4 8 .3 - 9 0 0 88 2 0 0 - 492
35 Titagarh Rail Systems 430 2837.5 1 3 0 .2 9 6 3 .6 1 3 4 8 .5 76 2 2 0 10 3 1 2 0 447
36 GET& D India 433 2820.1 - 1 .5 1 0 7 2 .7 1 4 4 8 .1 70 13 1 - 11 2 2 1 - 420
37 Greaves Cotton 440 2799.6 7 8 .0 1 2 0 5 .5 1 6 3 4 .0 71 8 0 1 12 0 2 2 1 508
38 Texmaco Rail & Engineering 449 2749.8 2 6 .0 1 3 9 4 .6 2 4 7 5 .2 63 5 3 - 23 4 1 0 0 853
39 Grind well Norton 471 2626.6 3 6 1 .9 1 7 9 1 .4 1 8 9 1 .2 45 11 4 - 18 0 2 5 6 103
40 Universal Cables 524 2282.6 1 1 8 .2 1 4 9 6 .6 2 1 6 2 .8 73 4 1 - 10 4 1 1 0 669
41 Action Construction Eq uip m ent 531 2245.2 1 7 1 .6 9 1 6 .9 9 2 8 .7 70 4 0 - 13 0 1 3 1 57
42 Syrm aSGS Technology 555 2127.4 1 1 9 .3 1 5 3 7 .7 1 9 2 7 .9 74 5 1 0 9 1 1 3 1 774
43 Sterling & Wilson Ren ewab le Energy 557 2125.9 - 1 1 6 9 . 6 - 2 0 9 .9 1 8 2 3 .8 - 12 0 0 136 7 1 0 - 942
44 Jupiter Wagons 566 2079.0 1 2 0 .8 8 0 3 .3 1 0 9 5 .9 76 2 2 0 8 1 1 4 1 445
45 Skipper 567 2076.9 3 5 .6 7 6 7 .4 1 3 6 6 .5 65 5 4 - 17 5 2 1 0 553
46 Ion Exchange (Ind ia) 579 2038.3 1 9 6 .7 8 3 1 .2 9 2 5 .9 61 12 1 1 10 1 1 3 1 186
47 KSB 591 1947.0 1 8 2 .7 1 1 4 3 .1 1 1 8 9 .3 55 13 1 0 16 0 2 3 3 158
48 GE Power India 599 1904.4 - 4 4 0 .6 2 3 2 .5 7 2 0 .9 48 22 0 - 42 4 1 6 - 659
49 Bhag yanag ar India 603 1877.9 1 0 .1 1 4 7 .6 3 6 7 .7 94 1 2 0 2 1 0 0 - 817
50 Schneider Electric Infra 607 1867.8 1 2 3 .6 6 6 .6 6 5 8 .2 68 13 0 - 8 3 1 - - 625
51 WPIL 613 1845.3 1 8 9 .2 7 0 6 .8 1 0 9 2 .8 21 12 0 0 47 1 2 4 1 396
52 Elecon Engineering Co 659 1558.0 2 3 7 .5 1 2 7 9 .1 1 3 6 4 .3 46 10 1 0 19 1 3 4 1 200
53 Bharat Bijlee 662 1544.5 8 3 .2 1 3 7 7 .7 1 6 7 2 .7 71 10 1 0 9 2 1 2 1 638
54 GTL Infrastructure 680 1485.3 - 1 8 1 6 . 9 - 4 5 4 0 .7 5 2 .9 - 4 46 0 86 53 34 - - 598
55 ITI 682 1481.5 - 3 5 9 .9 2 3 7 4 .3 4 5 9 7 .7 30 15 1 0 60 14 3 - - 908
56 Swaraj Engines 694 1437.7 1 3 3 .6 3 4 2 .2 3 5 0 .1 79 3 0 0 3 0 1 3 8 23
57 DCX Systems 698 1427.0 7 2 .0 5 6 7 .1 1 0 7 2 .0 89 1 0 0 3 2 0 1 - 916
58 Volt amp Transformers 700 1421.6 1 9 9 .9 1 1 0 7 .2 1 1 1 8 .9 54 3 0 - 24 0 1 4 4 140
59 Transformers & Rectifiers 724 1361.2 4 0 .7 3 8 5 .6 7 3 4 .9 77 3 1 0 9 4 2 1 0 738
60 Dynamat ic Technologies 727 1354.1 4 2 .8 5 4 2 .0 1 3 3 5 .6 49 19 5 - 13 5 5 1 0 883
61 Triveni Turbine 734 1318.2 1 9 2 .6 7 5 9 .4 7 7 3 .4 51 10 0 - 18 0 2 5 - 78
62 Honda India Power 748 1265.8 8 5 .1 7 3 6 .7 7 3 8 .8 59 10 1 1 18 0 2 2 1 87
63 HPL Electric & Po wer 749 1264.3 3 0 .2 7 9 1 .7 1 4 2 9 .6 66 11 1 2 6 6 3 1 1 932
64 Kirloskar Pneum at ic Co 767 1219.5 1 0 8 .6 7 9 5 .2 8 0 2 .9 55 12 1 0 18 0 3 3 3 207
65 Happy Forgings 771 1199.0 2 0 8 .7 9 8 8 .3 1 2 0 6 .8 46 7 6 0 12 1 5 6 1 451
66 Ing ersoll- Rand (Ind ia) 777 1168.6 1 8 2 .6 5 7 8 .0 5 8 6 .3 58 10 0 0 9 0 1 5 14 73
67 Pitti Engineering 787 1131.7 5 8 .8 3 3 4 .0 6 9 8 .6 69 7 1 - 8 4 4 2 1 608
68 Jyoti CNC Aut om at ion 789 1130.0 1 5 .1 8 2 .1 9 2 9 .8 60 15 1 1 10 8 3 1 - 989
69 Esab India 796 1106.9 1 3 5 .7 2 6 0 .3 2 7 0 .9 61 9 1 - 11 0 1 4 11 44
70 Salzer Electronics 817 1058.7 3 8 .7 4 0 2 .2 6 8 9 .6 73 4 1 0 13 2 2 1 0 856
71 Kennam et al India 822 1045.7 1 1 4 .1 6 4 6 .3 6 5 3 .9 52 14 1 0 15 - 3 4 5 141
72 VST Tillers Tractors 829 1034.6 9 2 .4 8 2 4 .5 8 6 8 .4 68 8 0 1 8 0 3 3 2 319
73 Shakt i Pum p s (Ind ia) 855 972.2 2 4 .1 4 1 8 .1 4 9 9 .6 77 5 0 0 10 2 2 1 0 495
74 HLE Glascoat 868 931.8 6 9 .8 3 2 5 .8 6 2 9 .1 46 16 5 - 18 3 2 3 1 780
75 Genus Po wer Infrastructures 896 863.5 2 9 .0 9 8 0 .2 1 4 3 0 .4 65 14 1 1 8 3 2 2 2 729
76 TD Power Systems 897 861.4 9 6 .8 6 0 4 .5 6 1 0 .5 65 11 1 0 6 1 2 4 2 331

Business Standard
M arch 2 4 4
 TSR
7 0 i srnligfcYTSRONMLIHGFECA
TECH N O LO GY
H R c T s c r l c i f c T R c n H

BHARAT ELECTRONICS LIM ITED

IN TRA N SFO RM IN G
I g i I H 2 S «
YWVUTRQONL
BHARATElfCTRON/ CS
QWUTY.JICHHOLOGR, INNOVATION zyvutsr
lfTSRONHECBA

• Military Communications • Radars • Naval Systems • C4I Systems • Missile Systems

• Electronic Warfare • Avionics • Opto Electronics • Tank Electronics
• Weapon Systems & Gun Upgrades • Electronic Fuzes • Homeland Security & Smart Cities

BHARAT ELECTRONICS LIMITED xwvutsrponligfedcbaTRONLKIGFCBA

Registered & Corporate Office: Outer Ring Road, Nagavara, Bengaluru - 560 045, India
Tel: +91 80 25039300 | Fax: +91 80 25039291 | Toll free: 1800 425 0433
CIN: L32309KA1954G01000787 | www.bel-india.in
SECTOR PERFORMANCE H1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
77 BGR Energy Systems 900 855.5 - 4 8 5 .0 1 3 4 .7 2 1 7 5 .4 66 15 0 - 46 47 2 - 18 - 988
78 Cyient DLM 915 827.3 3 1 .7 1 9 7 .9 5 8 0 .1 77 8 0 0 3 4 2 1 - 815
79 Param o unt Communicat ions 920 815.4 4 7 .8 2 9 5 .1 4 5 5 .9 72 3 1 0 16 1 1 - - 797
80 Birla Cable 924 808.5 3 2 .9 2 2 9 .4 3 5 8 .3 79 4 1 - 7 2 1 1 1 721
Ador Weld ing 926 797.4 5 9 .3 3 2 3 .5 3 4 7 .2 67 7 2 0 11 0 1 2 3 303
18

82 St erlingTools 930 793.4 4 7 .9 4 0 0 .4 5 4 9 .2 50 7 6 - 24 1 4 2 1 549

83 Inox Wind 938 780.5 - 6 6 6 .9 1 2 1 1 .2 4 2 3 6 .4 66 11 1 0 53 44 14 -2 - 991
84 Om Infra 993 708.2 1 2 .9 6 3 7 .1 8 4 1 .7 42 4 3 - 42 4 1 3 1 870
TOTAL - 318203.5 16731.2 157597.8 238466.2 53 10 2 0 23 3 2 2 1 -
SHARE N BS1000 - 2.7 2.3 3.0 2.3 2.6 2.9 0.9 0.6 3.3 2.7 1.3 2.3 1.2 -

12 CEM ENT & BLDG M ATERIALS

1 UltraTech Cement 28 64265.3 5 0 6 4 .0 5 4 2 6 8 .9 6 6 3 3 0 .1 16 4 29 1 33 1 4 4 211
2 Am b u ja Cements 56 31858.1 2 0 6 6 .7 2 4 6 3 9 .9 3 2 5 2 3 .1 13 5 30 1 38 0 4 2 474
3 Shree Cement 77 18386.7 1 2 7 0 .7 1 8 5 9 5 .8 2 1 5 6 7 .4 8 5 33 1 34 1 9 1 242
4 ACC 80 18209.1 7 0 8 .1 1 4 1 3 5 .0 1 4 4 6 9 .3 25 5 25 1 36 0 4 1 284
5 Dalm ia Bharat 116 13655.0 1 0 3 5 .0 1 5 5 1 2 .0 1 9 8 8 9 .0 14 6 27 1 31 2 10 2 471
6 Nuvoco Vistas Corporation 145 10623.0 1 5 .9 8 8 3 9 .0 1 3 8 9 6 .4 17 6 26 1 42 5 9 -6 682
7 J K Cements 152 9832.9 4 2 6 .3 4 7 3 1 .2 1 0 5 6 8 .8 16 6 26 1 36 3 5 2 572
8 Birla Corporation 162 8949.4 4 0 .5 5 0 5 9 .3 1 1 2 8 4 .2 14 6 27 1 43 4 6 0 676
9 The Ramco Cements 185 8204.3 3 1 4 .5 6 8 5 4 .1 1 1 4 3 7 .7 17 6 32 0 30 3 6 2 486
10 Prism Jo hnso n 203 7405.4 - 1 0 3 .2 9 5 0 .6 3 4 9 9 .5 32 9 22 2 28 3 5 0 514
11 JK Lakshm i Cement 227 6549.9 3 5 8 .6 2 7 6 6 .8 5 0 5 7 .5 21 6 29 1 30 2 3 3 443
12 India Cements 252 5884.3 - 1 2 6 .9 5 2 8 7 .0 9 4 4 5 .4 20 6 41 0 31 4 4 -4 893
13 Hil 373 3493.5 9 7 .1 1 2 4 3 .7 1 7 0 8 .8 59 12 4 2 17 1 3 1 311
14 Orient Cement 400 3173.9 1 2 2 .8 1 6 0 3 .7 2 0 8 2 .7 13 5 29 1 40 1 5 2 389
15 Star Cement 445 2774.8 2 4 7 .6 2 4 1 6 .4 2 6 3 3 .4 23 7 21 1 29 0 5 5 190
16 Sagar Cements 489 2434.8 2 9 .0 1 5 8 6 .1 3 2 1 5 .9 17 4 37 0 27 8 6 0 918
17 K CP 494 2415.6 4 1 .7 9 2 9 .5 1 8 7 2 .9 33 5 29 0 24 2 4 0 843
HeidelbergCement India 521 2296.0 9 9 .2 1 4 6 1 .4 1 6 6 7 .5 18 6 34 1 29 2 5 2 422
8

19 NCL Industries 571 2063.4 4 4 .3 7 6 9 .9 1 1 5 8 .2 11 3 27 0 51 1 2 2 507

20 M ang alam Cement 615 1822.2 1 7 .1 7 5 6 .2 1 4 6 9 .9 17 6 35 2 31 4 4 1 733
21 Everest Industries 628 1724.5 4 2 .4 5 8 1 .5 6 9 4 .4 58 9 3 1 24 2 2 0 463
22 Visaka Industries 634 1692.9 5 3 .6 7 7 1 .5 1 1 5 8 .8 54 8 4 2 23 1 3 1 735
23 Saurashtra Cement 644 1650.3 - 2 2 .0 8 8 2 .2 9 6 7 .2 8 6 46 2 36 1 2 0 539
24 Ind ian Hum e Pipe Co 655 1570.6 5 5 .7 6 9 5 .3 1 3 7 8 .9 2 5 0 - 82 5 1 1 891
25 Ram co Inds 675 1500.4 1 2 2 .5 3 8 8 4 .0 4 1 9 5 .1 55 9 5 0 19 1 2 1 804
26 Udaipur Cement Works 826 1039.9 3 5 .9 3 4 5 .8 1 5 2 3 .2 37 4 34 1 12 5 4 1 974
27 And hra Cements 832 1028.9 9 4 9 .6 3 5 5 .2 8 8 1 .7 - 1 0 0 7 2 5 -6 979
28 Sanghi Industries 844 1000.2 - 3 2 5 .7 1 5 5 9 .1 3 2 3 4 .4 7 6 47 0 39 24 9 - 983
29 Deccan Cements 923 808.6 4 9 .3 6 8 7 .5 9 5 7 .8 11 4 35 - 37 2 3 2 747
30 Shree Digvijay Cement Co. 972 738.7 5 8 .1 3 2 5 .0 3 3 6 .9 14 5 38 1 28 0 5 2 251
TOTAL - 237052.5 12788.4 182493.5 251106.1 18 5 28 1 34 2 5 2 -
SHARE N BS1000 - 2.0 1.8 3.5 2.4 0.6 1.1 9.7 2.7 3.6 1.5 2.6 1.4 0.8 -

41 CERAM IC PRODUCTS
1 Kajaria Ceramics 316 4507.2 3 4 4 .5 2 2 4 9 .1 2 5 9 8 .2 38 10 23 2 12 0 3 3 3 124
2 So m an y Ceramics 474 2604.4 7 1 .5 6 7 9 .4 1 3 6 8 .3 42 12 25 2 12 2 3 1 0 528
3 AGI Greenpac 517 2303.9 2 6 1 .6 1 6 0 6 .6 2 3 6 0 .2 32 8 21 0 18 2 5 2 1 489
4 Cera Sanit aryware 598 1907.9 2 0 9 .4 1 1 6 2 .0 1 2 6 3 .6 47 11 3 3 19 0 2 4 3 174
5 Asian Granito India 663 1540.5 - 7 2 .7 1 2 3 4 .8 1 4 8 5 .2 66 8 14 1 15 2 2 -2 - 954
6 Orient Bell 969 740.1 2 2 .5 3 1 0 .2 3 3 3 .8 39 14 24 3 13 0 3 1 0 275
TOTAL - 13604.2 836.8 7242.1 9409.3 42 10 19 2 14 1 3 2 2 -
SHARE N BS1000 - 0.1 0.1 0.1 0.1 0.1 0.1 0.4 0.4 0.1 0.1 0.1 0.1 0.1 -

15 CHEM ICALS
1 Tata Chemicals 87 17275.0 2 3 1 7 .0 1 8 8 0 0 .0 2 7 9 4 3 .0 19 10 17 - 30 2 5 2 3 425
2 BASF India 114 13891.5 4 0 2 .9 2 7 0 1 .2 2 8 9 8 .1 83 3 1 - 8 0 1 1 0 8
3 Deepak Nitrite 184 8210.8 8 5 2 .0 4 0 9 0 .0 4 1 9 2 .8 67 4 7 - 6 0 2 4 1 32
4 Solar Industries India 214 6991.4 7 5 7 .2 2 4 7 0 .0 3 8 0 7 .7 63 5 1 0 13 1 2 4 1 204
5 Aarti Industries 226 6553.7 5 4 5 .2 4 9 1 9 .4 8 0 4 4 .2 49 6 2 0 26 3 5 1 1 519
6 Gujarat Fluorochemicals 240 6163.9 1 3 2 8 .8 5 5 2 0 .7 7 0 8 9 .4 28 5 15 - 16 2 4 7 1 337
7 PCBL 255 5818.6 4 4 1 .8 2 8 2 1 .0 3 8 7 1 .2 75 3 0 - 8 1 2 2 4 323
8 Atul 265 5510.9 5 1 4 .1 4 6 2 3 .3 4 7 6 4 .2 51 7 12 - 14 0 4 3 2 79
9 Chem p last Sanm ar 290 5014.9 1 5 2 .4 3 0 2 .6 2 9 6 7 .6 64 3 13 - 10 3 3 0 - 674

66 M arch 2 02 4

VERTOZ - DRIVING INNOVATION
IN DIGITAL LANDSCAPE
• Company has global presence with offices in New York, London, Dubai, San Fransico etc.
• Company has five data centres spread across Mumbai and Singapore with daily data processed in
excess of 1.2 Petabytes
• Company has recently announced its new venture into CloudTech Sector through Strategic Merger
FOUNDED in 2012, Vertoz, a prominent
player in the ad-tech arena, and a leading
provider of data-driven solutions continues
to make waves with its innovative approach
to digital marketing, advertising, and
monetization businesses worldwide.
Vertoz's suite of products and services,
including IngeniousPlex, IncrementX,
Adzurite, Admozart, and ZKraft, leverages
the latest technologies to drive impactful
advertising campaigns and enhance
monetization strategies. With a focus
on data-driven insights and advanced
analytics, Vertoz empowers businesses
to achieve their marketing goals with
precision and efficiency.
Recently, Vertoz received the prestigious
c e r t i f i c a t i o n as a Great Place to
Work, underscoring its commitment
to fostering a positive work culture
and prioritizing employee well-being. In
addition to its Great Place to Work
certification, Vertoz has achieved significant
milestones in its business operations.
Collaborations with industry leaders like
JioCoupons and the establishment of
a step-down subsidiary, Performise Inc.,
in the US, reflect Vertoz's commitment
to strategic growth and expansion.
Commenting on achieving 'Great Place
to Work' recognition, HirenkumarShah,
Promoter & Whole Time Director of
Vertoz Advertising Ltd., conveyed, "We
take pride in attaining the Great Place
to Work recognition, which underscores
Vertoz's commitment to fostering a
workplace environment conducive to
creativity, collaboration, and employee
fulfilment".
He further talks about the company's
performance, stating, "We are pleased
to report positive financial outcomes for
Q3 FY24, characterized by significant
growth in EBITDA and PAT.This achievement
is a testament to the dedication and
teamwork of our Vertoz colleagues,
reaffirming our standing as a dynamic
force in the digital advertising sector."
Great
Place
To
Work® trifedC
Certified ZVTROEDC
DEC 2023 - DEC 2024
Vertoz received the
prestigious certification
as a Great Place to Work,
underscoring its
commitment to fostering a
positive work culture and
prioritizing employee
well-being
Ashish Shah, Promoter & Director of
Vertoz Advertising Ltd., conveyed, "With
our extensive global reach and a diverse
portfolio of clients, Vertoz stands poised Crores (39.30% YoY) and net profit at
to seize emerging opportunities in
the digital realm. We are optimistic about 9MFY24,company reported total sales
the company's future, underlining our
dedication to innovation, excellence,
and utmost customer satisfaction."
Vertoz's listing on the National Stock
Exchange (NSEI: VERTOZ) further
solidifies its position as a reputable
player in the market, providing investors it migrated to the mainboard in May
with opportunities to participate in its
growth story.
Vertoz's innovative platforms facilitate
enterprises in achieving their marketing
goals and maximizing revenue streams.
Anticipated innovations in ad formats
and structured auction algorithms
are poised to amplify revenue generation
for publishers and empower advertisers
to elevate audience targeting and
engagement to new heights. ZVTSRPONLIGEDCA the Digital Landscape.
— ADVERTORIAL zvtsro
ASHISH SHAH,
Promoter & Director,
Vertoz Advertising Ltd.
VERTOZ
The company's revenue has risen by
a stunning 155.91 % to Rs 55.23 Crores
in Q3FY24, with EBITDA at Rs 6.05
Rs 4.51 Crores (40.75% YoY). For
of Rs 126.80 Crores while the EBITDA
was Rs16.57 crores and PAT was Rs13.18
crores. The company's NSE-traded
shares delivered a remarkable 264%
return in the last year. O r i g i n a l l y
listed on NSE EMERGE in Nov 2017,
2020.
Company recently expands into CloudTech
via merger with PayNXand QualiSpace.
QualiSpace enhances web solutions
for 8000+ businesses, while ConnectReseller,
an ICANN-accredited entity, bolsters
the over 2 million managed domain
portfolios. This integration positions
Vertoz as a holistic digital solutions
provider, realizing its vision of Empowering
SECTOR PERFORMANCE
021000
Figures in ~ crore I As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
10 Jub ilant Ingrevia 294 4933.8 3 0 7 .5 2 6 6 6 .2 3 1 3 9 .1 55 7 14 0 12 0 2 3 2 208
11 GHCL 307 4698.2 1 1 4 1 .6 3 9 5 5 .8 4 3 2 2 .9 34 3 18 - 10 1 2 7 4 216
12 Gujarat Alkalies & Chemicals 313 4575.6 4 0 9 .6 6 1 3 9 .2 6 8 6 8 .2 33 6 24 1 14 0 6 6 4 312
13 Sum it o m o Chemical India 379 3416.0 5 0 2 .2 2 3 8 1 .8 2 4 3 8 .3 56 6 1 - 15 0 2 4 2 153
14 Fine Organic Industries 386 3310.5 6 1 8 .1 1 5 4 1 .3 1 5 6 9 .8 61 3 3 0 6 0 1 7 1 11
15 Jayant Agro Organics 439 2805.1 4 9 .4 4 7 6 .4 5 9 9 .0 82 2 1 - 11 0 1 1 1 197
16 DCW 441 2797.1 1 9 2 .0 1 0 2 5 .1 1 5 8 5 .3 50 7 16 0 10 5 3 3 0 546
17 Laxm i Organic Inds 443 2786.1 1 2 4 .6 1 4 1 1 .2 1 8 2 1 .6 66 4 9 0 12 1 3 2 0 379
18 India Glycols 452 2736.8 1 2 5 .1 1 9 0 1 .4 3 1 8 1 .6 49 3 15 - 19 4 3 1 1 679
19 Linde India 475 2603.9 4 3 0 .4 3 1 4 0 .1 3 2 7 5 .1 39 2 16 - 16 0 8 2 3 237
20 DDevPlast iks Inds 482 2520.9 1 0 4 .1 4 9 4 .3 5 5 3 .7 85 1 1 - 5 1 0 1 0 135
21 Balaji Am ines 500 2386.1 3 2 5 .5 1 4 1 0 .3 1 6 1 5 .6 53 4 10 0 7 1 2 7 1 120
22 I G Petrochemicals 502 2379.9 2 0 0 .0 1 2 3 4 .9 1 4 9 3 .3 75 3 2 - 5 1 2 3 1 305
23 TGVSraac 511 2334.5 3 6 1 .6 1 0 4 6 .6 1 3 7 5 .1 24 3 33 0 16 1 3 3 0 356
24 Epigral 522 2293.4 3 5 3 .3 1 0 6 9 .1 1 9 5 0 .6 53 3 5 - 9 3 5 7 1 520
25 Sud arshan Chemical Inds 527 2264.9 4 4 .8 8 2 8 .2 1 6 9 8 .3 59 8 7 0 16 2 5 1 0 565
26 IOL Chemicals & Pharm a 528 2260.9 1 3 9 .1 1 5 0 7 .7 1 5 8 9 .3 69 7 6 - 6 1 2 2 1 342
27 Panam a Petrochem 529 2254.3 2 3 3 .0 9 5 2 .1 9 5 4 .0 78 1 0 0 7 1 0 3 2 80
28 Thirum alai Chemicals 548 2149.8 8 9 .8 1 1 9 1 .9 1 7 1 7 .3 71 4 4 - 11 1 3 2 1 624
29 Navin Fluorine Int ernat ional 552 2142.5 3 7 5 .2 2 1 8 5 .0 3 0 7 4 .3 42 12 6 - 13 1 3 6 3 621
30 Hikal 577 2043.0 7 8 .4 1 1 3 3 .5 1 9 4 9 .5 55 11 9 0 12 2 5 1 1 575
31 Privi Speciality Chemicals 619 1811.0 2 2 .2 8 2 2 .7 1 9 2 6 .2 62 4 8 - 14 4 6 1 - 873
32 Camlin Fine Sciences 621 1790.4 5 2 .1 7 5 0 .8 1 6 2 5 .4 51 9 11 1 16 4 3 2 - 928
33 S H Kelkar & Company 633 1704.5 6 1 .2 1 0 2 6 .1 1 6 8 6 .1 56 12 2 - 18 1 5 2 2 677
34 Alkyl Am ines Chemicals 635 1692.6 2 2 8 .7 1 1 6 8 .9 1 2 6 7 .3 48 4 13 - 13 0 3 5 3 162
35 An u p am Rasayan India 637 1676.0 1 8 0 .9 2 2 3 7 .1 3 1 9 5 .4 46 4 0 0 23 4 4 5 2 788
36 Rossari Biotech 638 1675.0 1 0 7 .3 9 1 5 .2 1 0 0 1 .0 71 6 1 - 9 1 4 2 0 402
37 Sree Rayalaseem a Hi- St rengt h 640 1666.2 1 5 4 .3 7 5 0 .8 7 7 4 .4 69 2 0 0 16 0 1 2 0 134
38 NOCIL 645 1647.1 1 4 9 .2 1 5 5 2 .1 1 5 7 8 .1 55 5 11 - 12 0 3 3 3 229
39 Kanoria Chemicals & Inds 648 1616.1 - 8 .8 6 0 3 .7 1 1 2 5 .3 71 13 3 - 7 2 4 0 - 851
40 Archean Chemical Inds 666 1531.7 3 8 2 .6 1 4 3 1 .0 1 5 0 0 .5 3 5 9 - 39 6 4 8 2 533
41 Bodal Chemicals 669 1522.6 3 8 .0 1 0 7 7 .7 1 8 3 7 .9 55 6 13 0 16 3 3 1 0 777
42 Pondy Oxides & Chemicals 671 1513.2 7 5 .6 2 6 4 .8 4 2 1 .3 86 2 2 0 3 1 1 1 0 361
43 Sukhjit Starch & Chemicals 684 1474.5 6 3 .4 4 6 5 .5 8 4 7 .0 66 4 10 0 9 2 2 2 1 699
44 Vishnu Chemicals 697 1429.3 1 3 6 .6 4 1 4 .4 7 9 4 .4 39 3 4 - 36 2 2 3 0 560
45 Goa Carbon 699 1421.7 8 0 .8 1 8 6 .0 6 0 8 .2 83 2 0 - 4 3 0 2 1 925
46 Gulshan Polyols 772 1197.2 4 5 .2 5 7 4 .9 8 2 8 .4 59 3 13 0 17 1 2 1 0 801
47 Kiri Industries 785 1133.9 1 0 6 .7 2 6 7 9 .3 2 7 3 3 .8 57 4 10 0 12 1 4 1 - 591
48 Apcotex Industries 798 1102.9 1 0 7 .9 4 7 6 .0 6 3 8 .2 63 5 5 - 11 0 1 3 3 324
49 Grauer & Weil 799 1100.8 1 1 3 .0 6 7 9 .2 7 4 2 .1 50 9 1 - 25 0 2 4 2 218
50 Valiant Organics 813 1069.7 8 8 .1 6 3 7 .9 9 6 4 .4 64 4 4 - 12 1 3 3 0 535
51 Punjab Chemicals & Crop Protection 831 1032.0 6 1 .1 2 8 0 .6 3 9 6 .0 64 8 7 0 9 2 2 3 0 438
52 Clean Science & Technology 852 978.1 2 9 5 .2 1 0 1 0 .0 1 0 1 3 .1 35 5 9 0 7 0 4 10 5 182
53 Indo Am ines 863 942.8 4 0 .4 2 2 3 .5 4 5 8 .8 66 3 5 0 15 2 2 2 0 785
54 Oriental Aromatics 875 913.3 1 9 .7 6 2 5 .0 8 5 8 .9 69 6 6 - 13 1 2 1 0 837
55 Jocil 877 909.8 1 0 .0 2 0 6 .4 2 0 9 .5 - 4 4 0 90 0 1 0 0 144
56 DIC India 881 903.3 4 1 .0 4 2 2 .3 4 5 1 .8 74 8 1 - 10 0 1 0 0 347
57 POCL Enterprises 892 872.6 1 2 .9 5 1 .5 1 4 3 .4 90 2 2 0 3 1 0 0 0 791
58 Transpek Indust ry 904 848.3 8 3 .5 5 8 6 .6 7 3 4 .8 52 7 5 - 17 2 4 3 2 527
59 Neogen Chemicals 932 787.5 5 0 .0 4 8 2 .5 8 6 0 .4 62 6 4 1 13 4 2 3 1 943
60 Heubach Colorants India 956 752.8 1 9 .2 4 3 2 .4 4 3 9 .7 59 9 6 0 17 0 3 3 - 223
61 Nikhil Adhesives 967 742.7 1 7 .0 1 0 1 .7 1 3 9 .2 80 3 1 - 12 1 1 1 0 424
62 Yasho Industries 970 739.9 6 7 .9 2 3 8 .0 5 6 4 .0 63 5 4 0 11 2 3 3 0 882
63 Aether Industries 978 729.9 1 3 0 .4 1 2 4 4 .6 1 2 6 0 .3 50 5 8 - 10 1 3 6 - 819
64 Prim o Chemicals 982 728.0 1 3 7 .4 3 7 7 .3 5 6 2 .0 19 3 28 0 20 1 3 7 - 645
65 And hra Petrochemicals 991 716.8 2 0 .4 5 0 5 .2 5 9 8 .5 76 4 8 - 5 1 2 1 2 855
TOTAL - 177497.8 16707.3 109442.0 147135.6 55 5 9 0 15 1 3 3 1 -
SHARE N BS1000 - 1.5 2.3 2.1 1.4 1.5 0.8 2.2 0.1 1.2 0.8 1.1 2.1 0.7 -

13 CONGLOM ERATE
1 Grasim Industries 19 122282.8 6 8 2 7 .3 3 4 5 7 1 .2 2 4 9 9 7 3 .2 19 6 19 3 32 5 4 3 1 947
2 Ad ani Enterprises 50 35274.2 2 4 7 2 .9 2 8 2 1 2 .0 9 5 8 9 1 .7 75 1 0 - 17 3 2 1 0 660
3 Godrej Industries 69 23415.3 9 7 4 .8 1 6 6 7 .7 2 7 7 0 8 .4 46 4 1 2 34 4 1 1 - 945
4 Bo m b ay Bu rm ah Trading Corp 85 17393.2 - 1 6 7 5 . 9 2 2 5 2 .9 1 0 6 7 4 .7 57 4 2 4 28 2 1 5 0 517
TOTAL - 198365.4 8599.1 66703.7 384248.0 49 4 8 2 25 4 2 2 0 -
SHARE N BS1000 - 1.7 1.2 1.3 3.7 2.3 1.0 3.5 6.6 3.4 3.7 1.6 2.3 0.2 -

68 M arch 202 4
co m m it

More t han 6 decades of

Responsible Mining and
Sustainability ywvutsrponmljihgfedcbaTSRP
> O n e of t h e best p e r f o r m i n g Public Sector
Enterprises of India ywvtsronmlkjihgedcbaTQNMKIHDCBA

The Earth is our Workplace. The single largest producer of iron ore in the
country

Wc Preserve and Sole producer of Diamonds in India

All Projects are accredited with IMS Standards

Protect it. comprising of ISO 9 0 0 1 2015, ISO 1 4 0 0 1 2 0 1 5 ,

ISO 4 5 0 0 1 2 0 1 8 , and SA 8 0 0 0 2 0 1 4

Internal Safety Audits conducted routinely for

(Going Green since 1958) ensuring Safety in Mines and Plants

Bringing socio-economic tansformation

through innovative and impactful CSR
initiatives in the less developed regions of the
country

NMDC re-dedicates itself with a fresh zeal and

renewed enthusiasm, energy and strategy to
achieve greater heights in delivering value
for all its stakeholders.

NMDC Limited zywvutsrponmlkihgfedcaNMIGEDC

(A Government of India Enterprise)
Khanij Bhavan, 10-3-311/A, Castle Hills,
MasabTank, Hyderabad -500 028,Telangana, India
CIN :piTQOLIG
L131Q0TG1958GOI001674

H Q i l C l D / nm d clim it ed | © www.nm d c.co .in

ip
Resp onsi b l e M ining
ADVERTORIAL ADVERTORIAL
previous searches, location, and long-term, sust ainab le
order history to offer pertinent growth.
suggestions. In the current financial

% Moreover, the accessibility of new

m ar k et s an d c h an n e l s h as
year 2023-24, Cantabil
opened 69 new exclusive

CANTABIL zyxwvutsrqponmlkjihgfedcbaZYWVUTSRQPONMLKJIHGFEDCBA si g n i f i can t l y i m p r o ved w it h

t ech n o l o g i cal ad van cem en t s.
Brands now have easier access to
international and emerging markets,
In r er n af i o n u l Cl o t h i n g VTROLIEDA previously deemed less feasible to
ap p r o ach wit ho ut
technological aids.
What's your perspective on the
retail st ores, spanning
acro ss different cit ies,
su ch as Ahm ed ab ad ,
Jaipur, Kota, Dehradun,
Am b ala, Vi d i sh a,
t h e se M uzaffamagar, Hamirpur,
Ankleshwar, Chandigarh
and Bhopal et c. This

"You have to have your he art in the bus ine s s online versus offline debate? Do
you lean toward one over the
f u r t h er al i g n s wit h
co m p an y' s o ng o ing
commit ment to d elve
other?
and the bus ine s s in your he art" ywutsrponmlkihfedcaI In t he evo lving Indian ret ail
landscape, the convergence of
deeper into Tier II and III
c i t i e s, d e l i v e r i n g a
futuristic and rejuvenating
online and traditional channels ret ail exp er i en ce for
stands pivotal. The emergence of cu st o m ers. Current ly,
Could you provide an overview of the Cantabll brand, Including Its current market
"In positioning and strategic approach?
Cantabil, a reputable public-listed company, continues to thrive in the industry by
fast fashion to sustainable practices driven by heightened
awareness and conscientiousness among both customers
and manufacturers. Recognizing this evolution, brands
the (O+ O) market, blending digital-
enabled retail stores, signifies a
significant sales catalyst. As this
Cantabil presence is in 20
states & more than 250
cities across India and
specializing in the design, manufacturing, and retailing of high-quality readymade across diverse categories are diligently reimagining their model matures, both online and plans to open more stores
garments. Since our establishment in 2000 in India, Cantabil has consistently catered to offerings to embrace sustainability.
matters the fashion needs of individuals within the middle to high-income groups.
We take pride in our extensive range of formal wear, party-wear, and casual clothing for
Our commitment to this ethos involves implementing
rigorous measures such as adopting Zero Liquid Discharge
offline retailers will digitize their
operations for enhanced efficiency.
The crux lies in embracing an omni-channel approach for
selection includes everything from sophisticated formal
wear and party outfits to casual and ultra-casual clothing.
in the coming months.
According to you, what are the key trends that will
dominate the Industry In 2024?
both men and women, and the newly launched active wear range, which has garnered washing techniques, deploying Effluent Treatment Plants, Our primary target market is middle-class consumers
retail brands to stay relevant and flourish. Cantabil's
admiration across the nation. Our commitment to excellence is underscored by a robust and integrating eco-friendly equipment to manage water looking for premium outfits. At Cantabil, design is seen as a • Shift to Online - The ongoing shift to online retail is
strategic move into e-commerce, partnering with major
of manufacturing base and a vast network of over 500 exclusive retail stores nationwide,
fostering a community of mora than 4000 dedicated employees.
Over the past two decades, Cantabil has evolved into a comprehensive family wear
and waste efficiently. Additionally, we're dedicated to
augmenting the use of recycled fibers and organic cotton in
our garment production, demonstrating a responsible
online platforms like Myntra, Ajio, Flipkart, Amazon, and
others, has widened growth horizons beyond geographical
process that is closely related to the decision made by the
customer. Among peers, we are a rare brand that caters to
all three segments and offers a diverse range of products
expected to continue in 2024, driven by changing
consumer preferences, convenience, and the impact of
the COVID- 19 pandemic. While this shift offers
st an ce t o ward s boundaries. Despite being a recent addition amid the
brand, offering a diverse under one brand, making it family wear. significant growth opportunities for fashion retailers, it
pandemic, our e-commerce operations are steadily gaining
style, selection of apparel for men,
w o m e n , an d c h i l d r e n .
M o reo ver, our o f f erin g s
e n v i r o n m e n t a l
conservation. traction, contributing notably to our overall sales.
Could you elaborate on your existing distribution
What has been the trajectory of your growth?
In Q2 FY24, we witnessed a record-breaking revenue of Rs.
135 crore, accompanied by impressive EBITDA and PAT
comes with its challenges. Retailers will need to invest in
robust e-commerce platforms, efficient logistics, and
cybersecurity measures to ensure a seam less and
Th e evolving co nsum er approach across online and offline channels?
ext end b eyo nd clo t hing , figures of Rs. 29.6 crore & Rs. 7.5 crore respectively. Over secure online shopping experience. Additionally, the
landscape, particularly with Additionally, what strategies are being formulated to
swim en co m p assin g a d iverse
range of men's accessories,
including und erg arm ent s,
M i l l en n i al and Gen Z,
reflects a profound shift
toward brands endorsing
expand distribution in the future?
As we fortify our presence in both the digital and physical
the six-month period, revenues hit Rs. 247 crore, supported
by robust EBITDA of Rs. 64 crore and PAT of Rs. 19.8 crore.
We have been consistent in opening 6-7 stores each month
increased competition in the online space may
necessitate innovative marketing strategies to capture
and retain a digital customer base.
thermal wear, t ies, belt s, realms, our commitment remains unwavering towards
sust ainab le ap p ro aches. serving our customers, employees, and stakeholders with
and intend to maintain this pace as part of our expansion • Reimagining Stores - Traditional brick-and-mortar

with p o cket sq u ar es, so c k s,

slippers, caps, deodorants,
p erf um es, hand kerchief s,
Our initiatives are aligned
with this sentiment, catering
to t he enviro nm ent ally
utmost dedication. From a business standpoint, we
p ersist ent ly assess st rat eg ies to enhance cost -
strategy, aiming to achieve a revenue of 1,000 Cr. in the
coming years 2-3 years. Currently, we operate a total of
500+ stores, with 70% being Company Owned and
stores are undergoing a transformation in response to
the rise of online shopping. Retailers are reimagining
their physical spaces as showrooms, focusing on
t owels, and trolley bag s, effectiveness and elevate efficiency levels. Despite the
conscious preferences of Company Operated (COCO) stores and the remaining 30% providing immersive and experiential environments
ensuring a holistic shopping pandemic's influence on consumer behavior and market
the experience for our valued
customers.
today's consumers.
What marketing plans do
you havefor2024?
demand, we firmly believe that leveraging the trust and
confidence built by our brand over the years will
as franchise stores.
Since the onset of the pandemic, the entire retail industry
rather than just transactional spaces. Personalization
remains a key focus, with stores leveraging data
analytics and technology to offer personalized shopping
undoubtedly empower us to emerge stronger and maintain has experienced a transformation, empowered consumers experiences, such as customized fitting rooms, Al-
2024 heralds an era of
Tell us about your new a solid position. and presenting new market opportunities. This shift in driven recommendations, and interactive displays.
current. w o r k p l a c e and your
ambitions for growth.
channel explorat ion. At
Cantabil, our focus remains
st eadfast on innovation,
What strategies are you considering to enhance your
brand's visibility and impact in Tier 3 and Tier 4 cities?
consumer behaviour, coupled with the prominence of e-
commerce, has prompted us to make digital investments,
ensuring that we stay aligned with the pace of digitization
• Digital Innovation - The landscape of online shopping
is continually influenced by digital innovation, placing a
In FY 2024, our strides have ai m i n g to deliver The potential for expansion in Tier-Ill and IV towns is and provide our customers with a state-of-the-art shopping significant focus on both social commerce and the
b een r e m ar k ab l e . Th e u n p ar al l el ed sh o p p i n g
In investment in a sprawling
3163 sq. mtr. office and
warehouse space signal the
experiences both in-store
and online. Our trajectory
immense. We've observed an enthusiastic response from
the emerging young customer base within these markets.
Our strategy for expansion in these areas is specifically
experience. A robust ecosystem, incorporating innovative
customer care, relationship management, and e-commeree
strategies, has taken precedence as the retail sector
metaverse. Social commerce, the integration of e-
commerce with social media platforms, is becoming
increasingly influential. Retailers are likely to invest in
i n v o l v es p e r so n al i ze d focused on Exclusive Brand Outlets (EBOs) social commerce strategies to leverage the power of
onset of our expansion plans. undergoes a post-pandemic redesign. With a revamped
cross-channel engagement Can you provide more details about Cantabil's social networks for marketing and sales. Fashion
matters Having excelled in Tier 2 and
Tier 3 cities, our ambition
extends to Tier 1 cities, with an
strategies tailored to keep
co n su m er s seam l essl y
connected with our brand.
distinctive selling points and how the brand serves a
varied customer base, all the while concentrating on the
digital strategy in place, we anticipate sustained growth in
the coming years.
How has 2023 unfolded for your brand, and what are the
brands are also exploring opportunities within the
metaverse for virtual fashion shows, virtual shopping
middle-class segment in search of premium apparel? experiences, and unique digital collaborations to
aggressive strategy to launch Our proactive involvement key highlights so far?
Cantabil, established in 1989, has a 23-year success history engage t ech- sawy consumers.
6- 7 st o res each m ont h,
of amplifying our retail presence.
The steady surge in demand,
in influencer marketing and
m ed i a co l l ab o r at i o n s
u n d er sco r es our
in the "Mid-Premium market." It is renowned for offering
affordable ready-made garments of the highest quality.
Cantabil's USP is distinctive and wonderfully comfy clothing
The year 2023 has proven to be exceptionally successful for
Cantabil Retail India Ltd. From expanding its footprint in Tier
II & III cities to the introduction of new product categories
• Supply Chains - Supply chain resilience will be a top
priority for fashion retailers in 2024. The industry has
witnessed disruptions due to global events, highlighting
Mr. Vijay Bansal
buoyed by diminishing virus
concerns, further fuels our
co m m i t m en t . Th r o u g h
targeted advertising across that offers the newest trends and lifestyle for smart men, and venturing into the international market, the brand has
the need for agile and resilient supply chains. Retailers

principle, growth trajectory.

Our foray into E-Commeroe
various media channels, we
effect ively com m unicat e
women, working professionals, and kids of today. Our
experienced a comprehensive range of achievements. A
significant milestone for Cantabil Retail India Ltd. was
reached with the inauguration of its 500th store in the
may focus on diversifying suppliers, adopting
technology for real-timetracking and transparency, and
embracing sustainable and local sourcing practices.
Chairman & M anaging Director,
m arks a pivotal moment,
poised to script new success
with our aud ience and
engage potential customers
historic city of Ayodhya, solidifying the company's
nationwide presence.
stand stories. This move aligns
Cantabil Retail India Ltd.
closely with our overarching
goal of achieving a 1K crore
on a significant scale. This
approach is a potent tool,
enab ling us to g arner
Additionally, Cantabil Retail India Ltd. has embarked on an
international journey, with the establishment of its First
revenue milestone in the Exclusive Brand Outlet (EBO) in Nepal. To commemorate
attention, convey our message clearly, drive action, and

like coming years. Concurrently, we're actively exploring diverse sales channels to bolster
oursales volumes.
accomplish our business objectives. The mantra for 2024
remains clear and concise: Engage, Innovate, Convert - an
approach that defines our commitment to customer
this pivotal moment, Cantabil has diversified its portfolio by
venturing into the footwear and Athleisure category,
unveiling a collection of 30 distinctive product options. The
As we are in the last fourth month of the year, how has the FY 2024 been till now company aims to capitalize on this expansion by opening 5
int eract ion, inno vat ive p ract ices, and su ccessf u l
and what are your expectations from this year? exclusive brand outlets dedicated to these categories by the
a yxwvutsrponmlkjihgfedcbaYWTSROIHFDCA
In FY 2024, we're achieving unprecedented milestones. Q2 FY24 witnessed a record-
breaking revenue of Rs. 135 crore, accompanied by impressive EBITDA and PAT
conversions

How has the retail and garment manufacturing industry

figures of Rs. 29.6 crore & Rs. 7.5 crore respectively. Over the six-month period,
revenues hit Rs. 247 crore, supported by robust EBITDA of Rs. 64 crore and PAT of Rs.
19.8 crore.
The strategic addition of new stores has significantly bolstered our exceptional
performance, providing an expanding platform to fulfill our growth objectives. Notably,
we inaugurated 23 new stores this quarter, diversifying our presence across
geographies and fortifying our market share in the mid-premium segment.
Moreover, our commitment to expanding product offerings and catering to a wider
customer base is evident through the establishment of 29 exclusive outlets for women's
and kids' wear. This strategic move aligns with our systematic approach to broadening
our product range.
In today's era, the significance of sustalnablllty In fashion cannot be overstated.
What are your perspectives on this critical aspect of the Industry?
Amidst a shifting landscape, the fashion industry witnesses a significant transition from
year's end. These strategic moves underscore Cantabil's
commitment to growth, innovation, and establishing a
robust global presence.
transformed throughout its evolution? Could you
What are your plans of growth and expansion for the
outline the notable trends in consumer behavior that
year2024?
have emerged over time within this sector?
For the next phase of development, Cantabil plans to invest
The industry's rapid transformation amid the pandemic is
heavily in Tier II and Tier-Ill market as we see immense
unparalleled in its speed and scope. Today, it operates at an potential in these markets. We aim to aggressively expand
entirely different echelon. Key t rends enco m p ass our retail presence further and achieve INR 1,000 crore
investments in Omni-channel retail strategies, spurred by revenue over the next few years by targeting key markets
the digital consumer's reliance on connected devices for that include - M aharashtra, Gujarat, Uttar Pradesh, Madhya
pre-purchase consultations. Consumers seek a seam less Pradesh, Bihar, Jharkhand, West Bengal and parts of the
buying journey spanning digital and physical touchpoints. North East for new outlets. Having said that, company is
Another compelling trend revolves around personalization. also investing heavily in warehousing and corporate office
Tailored shopping experiences have gained immense space to support the long-term growth strategy and
importance, with retailers leveraging consumer data like increase production capacity. The company's priority is
ysrnljiaVMB
SECTOR PERFORMANCE
US1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank

6 CONSTRUCTION & INFRASTRUCTURE

1 Larsen & To u b ro 10 189562.5 1 0 4 7 0 .7 7 5 0 8 4 .7 2 1 1 2 0 1 .1 33 20 1 0 29 5 2 2 2 607
2 Ad ani Ports & SEZ 71 22453.2 5 3 1 0 .2 4 4 0 7 8 .5 1 0 1 5 1 9 .2 - 5 5 0 40 11 15 0 5 649
3 Rail Vikas Nigam 73 21436.6 1 4 2 0 .6 7 3 2 5 .1 1 4 3 7 9 .8 - 1 0 0 88 3 0 2 2 622
4 NCC 99 15642.1 6 0 9 .2 5 8 4 8 .2 7 2 2 5 .4 31 3 0 - 55 3 1 2 1 276
5 Ircon Int ernat ional 142 10735.7 7 6 5 .2 5 1 9 8 .4 8 3 2 2 .8 4 3 0 0 83 1 1 1 3 544
6 Hind ust an Construction Co 149 10342.7 - 2 7 .8 - 7 1 4 .4 6 6 3 2 .6 - 8 1 - 80 10 1 -1 - 898
7 M acrotech Developers 153 9611.2 4 8 6 .7 1 2 1 6 9 .7 2 1 9 9 6 .8 - 4 0 1 84 5 1 0 1 640
8 Ashoka Buildcon 181 8236.8 3 7 1 .4 1 5 3 4 .3 1 3 6 6 6 .9 32 5 - 0 38 13 4 3 - 905
9 PNC Infratech 189 8036.7 6 5 8 .5 4 2 8 5 .1 1 1 4 2 2 .4 42 5 0 0 32 6 3 4 0 939
10 GMR Po wer & Urban Infra 193 7865.7 1 1 8 2 .8 - 2 5 0 1 .2 6 1 0 7 .0 51 1 0 - 13 17 2 1 - 863
11 GMR Airports Infrastructure 197 7676.8 - 1 7 9 .3 - 2 5 5 4 .4 3 6 8 7 1 .0 3 13 - 0 49 31 14 1 - 917
12 Jaipra kash Associates 202 7489.3 - 1 3 4 1 . 8 - 1 1 9 9 .7 2 7 3 0 6 .1 32 5 8 - 54 14 5 1 - 966
13 IRB Infrastructure Developers 223 6703.3 7 2 0 .0 1 3 3 7 8 .9 4 0 8 3 0 .3 6 5 0 0 37 23 12 5 2 895
14 GVK Power & Infra 268 5421.1 2 4 3 8 .9 - 2 7 5 5 .7 4 8 3 5 .7 - 0 0 - 14 20 7 1 - 900
15 ITD Cementation India 281 5153.8 1 2 4 .2 1 2 3 3 .5 2 0 4 6 .6 34 9 4 - 43 3 2 1 0 427
16 H.G. Infra Engineering 310 4641.4 4 9 3 .2 1 9 2 1 .9 3 8 6 6 .0 46 4 0 0 30 3 2 4 0 798
17 Patel Engineering 321 4413.4 1 8 3 .5 2 8 0 0 .1 6 0 9 6 .3 - 8 2 0 74 9 2 1 - 822
18 KNR Constructions 333 4160.9 4 5 8 .0 2 8 1 0 .6 3 4 6 0 .5 36 4 0 0 35 4 4 6 0 247
19 Welsp un Enterprises 369 3526.8 7 2 2 .8 2 3 5 0 .0 3 4 8 2 .4 11 4 0 - 58 3 0 2 4 652
20 Engineers India 372 3494.5 3 4 6 .3 1 9 6 1 .5 1 9 9 5 .6 - 27 0 0 59 0 1 3 5 297
21 JSW Infrastructure 382 3372.9 7 3 9 .8 3 9 0 0 .4 8 6 6 6 .8 - 7 4 0 36 18 12 2 - 672
22 Ram ky Infrastructure 404 3161.0 1 1 4 0 .6 1 2 7 5 .2 3 2 2 3 .8 0 2 2 - 39 11 1 7 - 687
23 Rites 469 2642.3 5 4 2 .0 2 4 8 8 .4 2 9 0 4 .0 4 19 0 0 44 1 3 8 19 205
24 Sad b hav Engineering 542 2176.5 - 5 8 9 .1 1 5 .0 7 4 8 3 .3 6 3 1 - 87 30 6 -1 - 972
25 M ad huco n Projects 570 2063.8 - 1 4 3 .7 - 1 4 8 1 .8 2 3 6 6 .9 50 1 - - 17 2 39 -1 - 994
26 PSP Projects 587 1984.1 1 3 1 .9 8 0 1 .0 9 4 8 .1 30 4 0 0 53 2 2 2 0 417
27 Sim p lex Infrastructures 590 1956.6 - 4 7 0 .9 2 9 9 .4 6 3 6 7 .2 22 7 2 - 63 43 4 - 18 - 998
28 M an Infraconstruction 604 1875.4 2 5 8 .6 1 0 3 3 .6 1 3 1 0 .8 36 4 1 0 34 3 1 6 2 326
29 Vishnu Prakash R Punglia 737 1307.2 9 0 .6 3 1 4 .5 5 6 5 .8 37 2 3 0 46 2 1 2 - 709
30 SKIL Infrastructure 774 1179.1 1 1 1 7 .0 1 8 0 .5 2 2 4 2 .8 - 0 - - 0 5 0 - - 999
31 B.L.Kashyap & So n s 784 1136.2 2 2 .1 4 4 4 .7 8 7 3 .1 47 17 2 - 28 5 1 0 - 926
32 Sad b hav Infrastructure Projects 805 1093.1 - 3 7 5 .1 - 9 2 .8 6 0 6 3 .1 - 3 1 - 74 50 8 -2 - 986
33 RPP Infra Projects 815 1065.7 2 9 .0 3 6 3 .4 4 4 6 .1 30 3 - 0 60 2 1 1 - 547
34 Vascon Engineers 827 1036.4 9 7 .5 8 9 9 .2 1 0 6 3 .0 77 7 0 1 3 1 1 0 - 802
35 Techno Electric & Engineering Co 833 1028.8 1 8 6 .9 1 9 3 0 .1 2 1 1 4 .5 64 4 0 - 7 1 1 5 6 461
36 Gujarat Pipavav Port 848 989.3 3 1 3 .1 2 3 1 0 .8 2 4 5 6 .7 - 8 4 0 34 1 12 10 30 680
37 GPT Infraprojects 919 821.9 3 1 .4 2 7 7 .1 5 6 5 .9 9 5 3 0 71 5 2 1 2 763
38 Ganesh Housing Corporation 994 706.6 1 0 0 .1 1 0 4 1 .3 1 1 1 9 .1 2 0 0 61 2 0 20 3 775
TOTAL 386201.1 28435.0 188255.0 584045.2 24 12 1 0 42 7 3 2 2
SHARE N BS1000 - 3.2 3.9 3.6 5.6 1.4 4.2 0.8 0.8 7.2 9.1 2.8 3.0 1.9 -

18 CONSUMER DURABLES
1 Havells India 83 17842.2 1 0 7 1 .7 6 6 2 5 .5 6 9 9 6 .6 67 7 2 13 0 2 2 3 16
2 Polycab India 112 14206.4 1 2 7 0 .0 6 5 9 3 .8 6 8 8 4 .1 73 3 1 8 0 1 3 2 21
3 Dixon Technologies 124 12193.7 2 5 5 .5 1 2 8 5 .2 1 7 7 1 .4 90 2 - 3 1 1 1 0 76
4 Blue Star 179 8364.7 4 0 0 .5 1 3 2 7 .5 2 0 4 8 .9 53 7 1 31 1 1 2 1 187
5 Am b er Enterprises India 210 7037.0 1 5 7 .2 1 8 6 3 .5 3 4 3 9 .4 84 3 - 5 2 2 1 - 476
6 Crompton Greaves Consumer Electricals 213 7002.3 4 6 3 .2 2 2 1 2 .3 3 8 0 9 .5 68 8 1 11 2 2 2 3 277
7 Whirlpool of India 218 6930.8 2 1 9 .0 3 3 7 2 .8 3 8 8 1 .6 68 9 1 14 0 3 1 1 88
8 R R Kabel 257 5797.5 1 8 9 .9 1 4 1 9 .7 2 0 1 6 .4 82 4 1 5 1 1 1 1 107
9 Bajaj Electricals 263 5551.0 2 1 6 .2 1 9 0 7 .2 2 0 8 4 .7 68 8 2 14 1 1 2 1 98
10 IFB Industries 272 5311.4 1 4 .9 6 6 7 .5 1 1 2 1 .3 49 8 5 34 1 2 0 - 355
11 V- Guard Industries 340 4063.4 1 8 9 .1 1 6 0 7 .6 2 1 5 0 .2 69 7 2 13 0 2 2 1 152
12 TTK Prestige 426 2877.3 2 5 4 .2 1 9 3 3 .0 2 0 7 1 .5 60 8 5 12 0 2 3 3 166
13 Orient Electric 464 2669.5 7 5 .9 5 8 4 .6 7 1 1 .6 67 7 4 15 1 2 1 1 95
14 Jo hnso n Controls- Hitachi AC 505 2369.0 - 8 2 .1 6 5 9 .2 9 4 0 .3 74 8 2 16 0 3 -1 - 494
15 PG Electroplast 538 2192.6 7 7 .5 3 9 5 .9 9 8 6 .8 82 6 - 3 2 2 1 - 662
16 V I P Industries 547 2152.5 1 5 2 .3 6 4 1 .7 1 0 1 1 .1 48 11 5 21 1 3 2 3 313
17 Eureka Forbes 575 2044.5 2 6 .6 4 0 9 6 .5 4 3 6 2 .0 38 15 4 37 1 3 1 - 766
18 HBL Power Systems 712 1391.7 9 8 .7 9 5 1 .5 1 0 3 9 .7 60 8 - 17 0 3 2 1 325
19 Eveready Industries 728 1352.5 2 7 .6 3 1 9 .4 7 2 5 .4 62 11 - 17 4 2 1 - 782
20 Sym p ho ny 735 1313.9 1 1 6 .4 8 8 0 .9 1 1 2 3 .6 57 9 6 13 1 2 3 3 400
21 Stove Kraft 746 1276.8 3 5 .8 4 0 3 .4 6 3 4 .1 67 11 - 13 1 2 1 - 667
22 KDDL 763 1230.8 5 3 .6 2 1 0 .4 7 0 6 .7 59 14 2 9 2 4 2 0 805
23 Kaynes Technology India 769 1205.2 9 5 .2 9 5 7 .7 1 1 1 8 .8 71 6 0 - 7 3 2 3 - 740

Business Standard
M arch 202 4
 Wind
Power
Alumina
Refinery

Aluminium
Smelter Solar
Power

Bauxite
Mines

Captive
Power Plant

Port
Facilities

Rolled
Products

O n e of t h e l a r g e s t i n t e g r a t e d Alumina and Alumini

Complex in Asia, NALCO's p r e s e n c e e n c o m p a s s e s
entire value chain f r o m bauxite mining, alumina refin'
aluminium smelting, p o w e r generation t o d o w n s t r e
products.
• L o w e s t C o s t P r o d u c e r of Alumina in t h e World
A L o w e s t C o s t P r o d u c e r of B a u x i t e in t h e World
2 n d H i g h e s t Net Foreign E x c h a n g e E a r n i n g CPSE
And

• (SNALCOJndia
• (SJCMDNalco
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SECTOR PERFORMANCE
01 1000
Figures in ~ crore I As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
24 Borosil 801 1098.0 8 9 .9 8 4 7 .2 9 7 1 .9 41 11 5 - 28 0 4 3 - 367
25 Elin Electronics 809 1079.5 2 6 .8 4 9 3 .1 5 7 2 .4 74 12 2 0 6 1 2 1 0 490
26 MIRC Electronics 824 1041.2 - 1 2 .5 1 9 0 .8 2 8 0 .1 85 6 0 1 7 1 1 - - 809
27 Butterfly Gand him at hi Appliances 837 1015.1 5 1 .7 2 8 4 .8 2 9 0 .6 61 10 1 6 12 1 2 3 - 183
28 Hawkins Cookers 838 1008.4 9 4 .8 2 7 6 .1 3 2 8 .1 51 11 1 4 19 0 1 3 5 146
29 Avalon Technologies 854 976.2 5 2 .5 5 3 7 .0 8 9 1 .4 64 16 1 - 6 4 2 2 - 860
30 Centum Electronics 869 929.5 9 .8 2 1 7 .4 5 4 6 .5 45 36 1 - 10 3 5 1 1 716
TOTAL - 123524.6 5691.7 43763.1 55516.9 69 7 1 2 13 1 2 2 1 -
SHARE N BS1000 - 1.0 0.8 0.8 0.5 1.3 0.7 0.1 2.9 0.7 0.3 0.5 0.8 0.4 -

7 CONSUMER STAPLES
1 ITC 27 73397.8 1 9 1 9 1 .7 6 8 7 7 1 .7 7 0 2 2 0 .2 40 8 2 2 11 0 2 9 26 59
2 Hindust an Unilever 29 61342.0 1 0 1 2 0 .0 5 0 0 8 6 .0 5 4 8 3 2 .0 46 5 1 8 17 0 2 5 15 282
3 Asian Paints 49 35278.7 4 1 0 6 .5 1 5 5 3 8 .6 1 8 2 4 1 .1 54 6 0 3 18 0 2 4 7 27
4 Nestle India 84 17774.7 2 3 9 0 .5 2 4 5 9 .2 5 9 5 2 .2 37 9 3 4 25 2 5 12 102
5 Brit annia Industries 91 16970.0 2 3 2 1 .8 3 5 0 4 .0 6 6 1 7 .4 57 4 2 4 13 1 4 10 139
6 Tata Consumer Products 111 14468.7 1 2 0 3 .8 1 5 4 0 4 .7 1 8 2 0 5 .0 49 8 1 6 21 2 3 5 371
7 Varun Beverages 118 13556.5 1 4 9 7 .4 4 9 8 9 .3 9 1 9 0 .9 49 9 4 1 17 5 3 2 404
8 Godrej Consumer Products 121 13271.4 1 7 0 2 .5 1 3 7 9 4 .2 1 5 0 2 8 .8 49 8 1 7 15 2 3 - 196
9 Dabur India 125 12066.1 1 7 0 7 .2 8 5 0 5 .1 1 0 2 1 6 .4 39 9 1 5 23 3 4 8 157
10 Pidilite Industries 126 11917.1 1 2 7 3 .3 6 9 7 8 .6 7 6 9 7 .6 57 10 1 2 12 2 4 5 43
11 M arico 140 11007.0 1 3 0 2 .0 3 6 4 2 .0 4 6 9 7 .0 42 6 0 8 27 1 4 5 50
12 Berger Paints India 143 10712.7 8 5 9 .4 4 4 8 6 .0 5 7 7 5 .2 57 6 1 3 20 2 3 3 104
13 Kansai Nerolac Paints 171 8641.4 4 7 3 .6 4 5 0 7 .0 4 8 1 6 .4 56 4 1 3 26 0 2 2 2 55
14 Colgate- Palmolive (Ind ia) 274 5275.9 1 0 4 7 .2 1 7 1 6 .4 1 8 1 0 .6 34 7 1 12 16 0 3 7 20 3
15 Galaxy Surfact ant s 322 4400.2 3 8 1 .0 1 8 8 2 .6 2 2 1 7 .3 67 6 2 - 12 0 2 2 2 69
16 3M India 337 4080.5 4 5 1 .0 1 6 7 7 .5 1 7 4 7 .3 62 10 1 - 12 0 1 4 23 12
17 P& G Hygiene an d Health 343 3967.0 6 7 8 .1 9 4 6 .0 1 0 5 5 .5 42 5 0 10 19 0 1 4 15 9
Godfrey Phillips India 350 3891.5 6 9 0 .5 3 5 4 2 .6 3 9 2 8 .5 47 8 1 2 14 1 4 5 6 193
8

19 Akzo Nobel India 354 3822.2 3 3 5 .1 1 3 1 5 .1 1 4 9 3 .3 60 8 0 2 15 0 2 3 8 24

20 Em am i 375 3437.7 6 3 9 .6 2 2 9 2 .8 2 4 4 4 .0 34 11 1 16 12 0 7 1 10 54
21 Heritage Foods 378 3427.3 5 8 .0 7 2 5 .9 9 2 0 .7 78 6 1 0 10 0 2 1 1 413
22 Parag M ilk Foods 416 3009.8 5 3 .3 8 0 7 .9 1 4 1 8 .1 74 3 2 - 16 2 2 0 - 727
23 Dodla Dairy 437 2812.1 1 2 2 .3 9 7 2 .2 1 0 1 6 .5 75 4 2 0 11 0 2 1 - 84
24 Hind ust an Foods 472 2616.8 7 1 .1 3 7 4 .1 8 9 2 .9 69 2 1 0 21 1 1 - 521
25 Jyothy Labs 481 2535.9 2 3 9 .7 1 5 4 6 .9 1 6 7 1 .9 57 10 1 7 11 2 2 4 199
26 Gillette India 486 2489.5 3 5 5 .7 9 8 8 .9 1 1 0 0 .3 47 7 1 10 12 3 5 11 28
27 Zydus Wellness 512 2328.2 3 1 0 .4 5 1 2 2 .7 5 4 3 4 .4 52 7 2 14 11 1 -1 1 773
28 Tamil Nadu Petro Products 537 2197.3 9 4 .2 8 2 5 .4 9 5 6 .7 58 2 20 - 13 1 1 1 241
29 CCL Products India 565 2085.4 2 6 8 .9 1 4 8 2 .2 2 4 0 4 .4 55 5 6 - 15 3 2 4 592
30 Bikaji Foods Int ernat ional 586 1985.1 1 2 8 .5 9 5 5 .0 1 1 2 4 .5 61 5 3 2 18 2 2 1 278
31 Prataap Snacks 639 1668.2 2 0 .3 6 7 6 .2 7 6 1 .9 72 5 2 1 16 4 -1 0 395
32 GRM Overseas 677 1495.9 6 2 .7 2 7 1 .0 6 8 7 .5 83 1 0 0 9 0 2 0 828
33 Mrs Bectors Food 715 1381.5 9 0 .1 5 4 4 .3 6 8 5 .0 55 12 5 2 13 4 2 1 256
34 M cleod Russel India 721 1365.5 - 1 0 5 6 .5 3 0 7 .0 2 6 0 8 .6 8 53 12 - 88 15 5 -3 - 980
35 VST Industries 725 1360.1 3 2 7 .0 1 1 7 9 .7 1 2 0 1 .2 45 9 0 2 10 2 7 17 175
36 Vadilal Industries 806 1089.1 9 6 .3 3 2 1 .7 6 9 7 .7 53 9 4 - 18 3 3 0 731
37 Indigo Paints 807 1085.0 1 3 1 .9 7 7 6 .1 7 9 5 .5 55 7 0 8 13 3 2 2 390
38 Ap ex Frozen Foods 820 1049.2 3 5 .9 4 9 0 .0 5 8 1 .5 69 6 1 - 16 2 1 1 436
39 Bajaj Consumer Care 847 995.3 1 3 9 .2 7 8 9 .7 8 0 2 .8 44 9 0 18 12 1 3 7 318
40 Jay Shree Tea & Industries 866 933.2 - 4 7 .1 2 2 1 .4 6 2 9 .2 44 30 5 - 19 2 0 - 968
41 Goodricke Group 883 899.4 - 0 .3 3 1 0 .9 4 1 0 .3 33 38 7 1 19 2 0 - 568
TOTAL - 368088.8 53873.3 235728.6 272988.0 48 7 1 4 16 2 5 12 -
SHARE N BS1000 - 3.1 7.4 4.6 2.6 2.7 2.3 0.8 22.3 2.7 0.7 1.8 6.9 11.9 -

37 DISTILLERS & WIN ERIES

1 United Spirits 138 11213.4 1 1 3 6 .3 5 9 9 9 .5 6 1 9 5 .1 39 5 0 8 32 1 3 1 - 273
2 United Breweries 198 7601.2 3 0 4 .0 3 9 6 0 .3 4 0 0 3 .2 22 8 3 - 59 0 3 1 3 151
3 Radico Khait an 395 3248.5 2 2 0 .4 2 2 0 7 .9 2 9 7 3 .9 31 5 2 4 47 1 2 2 1 399
4 Globus Spirits 553 2134.8 1 2 2 .2 8 8 6 .6 1 1 8 4 .3 59 3 14 1 11 1 3 3 1 391
5 IFBAgro Industries 740 1287.5 4 9 .1 5 4 8 .4 5 7 2 .7 69 5 6 1 12 0 1 1 - 230
6 Tilaknagar Industries 747 1266.6 1 4 9 .9 4 8 2 .9 8 0 6 .8 23 3 0 - 56 3 3 0 0 756
7 Som Distilleries & Breweries 917 826.0 6 0 .3 3 7 5 .4 6 6 5 .7 61 3 4 0 19 2 2 1 0 892
8 Associated Alcohols & Breweries 989 720.3 4 1 .6 3 6 3 .4 4 6 5 .2 31 5 12 - 43 0 2 2 0 616
TOTAL - 28298.3 2083.7 14824.4 16866.9 36 6 3 4 40 1 2 2 1 -
SHARE N BS1000 - 0.2 0.3 0.3 0.2 0.2 0.1 0.1 1.5 0.5 0.1 0.1 0.2 0.1 -

71, Businei
I * + M arc
 — ADVERTORIAL XVUT

VEERHEALTH CARE SECURES

US FDA LABELER CODE, SETS
STAGE FOR GLOBAL EXPANSION ywvtsron

Veer Heal t h Car e Lt d has ac hi eved a si gni fi cant mi l est one w i t h t h e al l ocati on of
a l abel er c ode by t h e US FDA trlheaVH
VeerHealth Care is a leading manufacturer
and supplier of Ayurvedic medicines,
oral care products, and personal care
products.With a state-of-the-art manufacturing
facility in Vapi, Gujarat, the company
produces research-based quality products
under the expert guidance of Dr Vinod
Mehta and Dr Rajiv Bhirud. VeerHealth
Care is committed to delivering high-
quality, natural healthcare solutions
to consumers worldwide.
VeerHealth Care Ltd has achieved a
significant milestone with the allocation
of a labeler code by the US FDA. This
milestone marks the company's entry
into the lucrative US market, positioning
it for exponential growth and global
expansion.
The company's successful turnaround
in FY23 has laid the foundation for its With a robust product portfolio comprising over 100 Herbal
next phase of growth. With a robust
product portfolio comprising over 100
and Ayurvedic products in skincare, body care, hair care,
Herbal and Ayurvedic products in skincare, oral care, healthcare, and fragrance, VeerHealth Care is
body care, hair care, oral care, healthcare,
and fragrance, VeerHealth Care is poised poised to capitalize on the increasing demand for natural
to capitalize on the increasing demand and herbal products both domestically and internationally
for natural and herbal products both
domestically and internationally.
Under its flagship brand 'Ayuveer', portal. Commenting on the achievement,
the company has garnered strong traction Dr Vinod Mehta, an Ayurvedic practitioner
in domestic and export markets, with with 30 years of experience and renowned
clients including prominent names such Vaidya of Mumbai, stated, 'This milestone
as Dava India, Gracious Pharma, Babuline represents a significant leap forward for
Pharma, Graciera Pharma, and Apollo VeerHealth Care. With our commitment
Pharmacy. The company has also to quality and innovation, we are well-
commenced exports to the USA and valued at US$ 50,000 for the manufacturing positioned to capitalize on the growing
South Africa, further expanding its global and supply of oral care products in demand for natural healthcare and
footprint. collaboration with a leading institutional personal care products globally."
The allocation of the US FDA labeler supplier in the USA. Successful completion Looking ahead, VeerHealth Care anticipates
code paves the way for VeerHealth Care of th is order is e x p e c t e d to open driving additional growth in turnover from
to introduce a range of body care and doors for continuous repeat orders and CIS countries and the domestic market,
skin care products in the US market. bolster the company's revenue stream. with an estimated 10% Profit after
With the Western world embracing Indian In addition to its US FDA milestone, Tax from the next financial year. The
Ayurvedic and herbal products, the VeerHealth Care has undergone inspection company's ongoing efforts to obtain US
company stands to benefit from this by the Quality Council of India and is FDA approval for its Vapi Manufacturing
growing trend. now registered as an Original Equipment Facility further underscore its commitment
Furthermore, the company has secured Manufacturer (OEM) for 9 products to adhering to international quality
a Preliminary Sample Export Order on the Government e-Marketplace (GeM) standards.
SECTOR PERFORMANCE US1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
24 DIVERSIFIED
1 Rain Industries 72 21731.3 1 4 3 8 .7 8 0 7 0 .8 1 9 0 5 2 .0 55 6 8 - 14 4 3 0 658
2 SRF 105 14954.1 2 1 6 2 .3 1 0 3 2 7 .1 1 5 0 9 7 .1 50 5 10 - 11 4 4 1 264
3 DCM Shriram 127 11916.9 9 1 0 .8 6 1 9 3 .8 8 1 7 3 .6 48 7 18 - 13 2 4 2 156
4 Voltas 157 9393.7 1 3 5 .0 5 4 1 0 .4 6 2 1 6 .6 76 7 0 1 12 0 2 1 179
5 Trident 230 6415.2 4 4 0 .7 4 1 9 1 .1 5 6 3 8 .1 54 10 9 1 11 5 2 3 267
6 Century Textiles & Industries 289 5020.1 2 7 1 .9 3 7 3 4 .7 5 5 2 0 .9 46 7 14 1 19 5 3 1 534
7 Nava 339 4071.2 9 2 7 .7 4 9 4 3 .2 9 2 7 6 .4 27 5 0 0 19 10 8 1 2 684
8 Kesoram Industries 348 3904.0 - 1 9 4 .3 4 7 3 .2 2 5 2 4 .7 12 6 37 - 40 12 3 -5 - 861
9 And hra Sugars 499 2389.0 1 8 6 .0 1 4 4 5 .7 1 6 7 5 .7 50 8 18 0 11 3 3 1 217
10 Balm er Lawrie & Company 504 2371.9 1 7 1 .9 1 6 4 9 .5 1 8 7 5 .8 69 11 2 - 9 2 2 5 322
11 Bo m b ay Dyeing & M anufact uring Co 580 2034.6 - 5 1 6 .7 - 1 2 1 9 .5 2 4 0 7 .2 65 3 7 1 21 26 2 1 - 929
12 Sayaji Industries 816 1058.9 7 .2 1 1 2 .4 2 4 7 .9 67 6 9 - 15 1 0 0 641
13 Spect rum Talent M anag em ent 947 771.4 2 7 .8 5 5 .8 6 0 .5 33 61 - - 2 0 -1 - 310
14 Forbes & Company 950 764.9 1 9 2 .0 2 2 4 .7 3 1 4 .5 21 19 1 1 25 4 4 11 421
TOTAL - 86797.3 6161.0 45612.8 78081.1 52 7 10 0 15 3 3 3 1 -
SHARE N BS1000 - 0.7 0.8 0.9 0.7 0.7 0.6 1.3 0.2 0.6 0.8 0.6 0.9 0.3 -

34 E- COM M ERCE/ APP BASED AGGREGATOR

1 One 97 Com m unicat ions 178 8400.0 - 1 7 7 5 . 9 1 3 0 3 8 .3 1 3 5 3 7 .3 - 45 - - 70 0 6 0 - 599
2 Team Lease Services 191 7923.2 1 1 1 .3 7 9 4 .8 1 0 3 4 .1 - 96 0 - 2 0 1 0 - 127
3 Zomato 194 7804.2 - 9 7 1 .3 1 9 4 6 6 .4 2 0 0 6 4 .8 18 19 0 16 54 6 -1 - 770
4 FSN E- Com m erce Ventures 271 5315.8 1 9 .3 1 3 6 3 .9 2 3 2 3 .1 57 9 0 11 17 3 0 - 506
5 Info Edge (Ind ia) 451 2738.5 - 1 0 7 .4 1 2 3 7 0 .2 1 3 5 1 0 .8 - 40 0 15 37 3 8 9 370
6 Ind iam art Int ermesh 779 1165.9 2 8 3 .8 2 0 5 8 .5 2 5 8 0 .2 - 36 0 0 28 3 8 5 597
7 Just Dial 849 986.7 1 6 2 .7 3 6 6 7 .1 3 7 9 2 .3 - 66 1 2 7 3 3 - 726
TOTAL - 34334.3 - 2277.5 52759.1 56842.6 13 45 0 7 37 4 1 1 -
SHARE N BS1000 - 0.3 - 0.3 1.0 0.5 0.1 1.4 0.0 3.1 0.6 0.1 0.3 0.1 0.1 -

14 FERTILIZERS
1 National Fertilizer 57 30637.8 4 5 8 .3 2 5 4 1 .7 8 5 1 0 .9 67 2 21 0 6 1 1 0 705
2 Coromandel Int ernat ional 58 30546.9 2 0 1 2 .9 7 9 0 7 .8 8 3 4 8 .7 79 2 1 - 7 1 2 1 38
3 Chambal Fertilisers & Chemicals 61 26212.0 1 0 3 4 .2 7 0 8 3 .3 1 0 4 4 8 .4 68 1 18 - 5 1 1 1 119
4 Rashtriya Chemicals & Fertilizers 74 21435.4 9 6 6 .3 4 5 9 0 .1 6 7 1 9 .6 55 3 27 0 7 1 1 1 206
5 Paradeep Phosphat es 119 13441.1 3 0 4 .2 3 5 0 4 .7 8 1 7 8 .2 79 2 5 - 8 2 1 0 824
6 Deepak Fertilizers & Petro 130 11671.1 1 2 1 0 .1 4 9 4 0 .7 8 8 9 0 .2 68 5 1 - 7 2 5 1 571
7 Gujarat State Fertilizers & Chem 132 11571.0 1 2 6 5 .9 1 2 0 3 8 .3 1 2 3 5 4 .6 60 6 11 0 8 0 2 3 155
8 GN FC 144 10673.6 1 4 7 1 .5 9 1 0 5 .1 1 0 0 6 0 .6 48 6 19 - 7 0 4 4 116
9 Fertilizers & Chemicals Travancore 220 6782.7 6 1 3 .0 1 2 7 3 .9 3 3 1 7 .2 61 4 11 - 11 4 - 1 456
10 Zuari Agro Chemicals 254 5829.2 4 7 6 .6 1 0 4 8 .0 3 7 0 7 .4 52 2 12 - 18 4 2 - 836
11 Nagarjuna Fertilizers & Chemicals 259 5730.3 - 9 0 0 .1 - 2 0 6 9 .8 8 4 7 .8 49 2 42 0 17 9 -4 - 739
12 M angalore Chemicals & Fertilizers 368 3553.8 1 3 4 .7 8 0 3 .2 2 1 9 1 .9 63 2 19 - 6 3 1 1 732
13 M adras Fertilizers 380 3413.0 1 8 5 .3 - 2 8 7 .1 1 2 5 0 .7 73 3 8 0 6 3 2 - 596
14 Sout hern Petrochemicals Inds 429 2843.7 3 0 0 .7 9 8 5 .8 1 4 2 1 .5 70 3 4 - 9 1 1 1 728
15 Zuari Industries 720 1366.6 3 0 6 .3 2 3 4 9 .3 5 0 5 8 .4 36 7 0 0 14 18 1 0 950
16 M adhya Bharat Agro Products 836 1016.9 1 2 4 .2 3 2 8 .4 6 7 0 .1 64 3 1 0 10 2 5 0 834
17 Khait an Chemicals & Fertilizers 867 933.2 4 2 .1 2 9 3 .8 5 2 3 .2 66 4 3 - 18 2 1 0 865
Ram a Phosphat es 878 908.5 4 0 .9 3 0 9 .0 4 2 7 .7 72 4 3 - 13 1 2 0 771
8

TOTAL - 188566.5 10047.3 56746.1 92926.9 66 3 14 0 8 2 2 1 -

SHARE N BS1000 - 1.6 1.4 1.1 0.9 1.9 0.5 3.9 0.0 0.6 1.0 0.5 1.2 0.6 -

16 FOOD PROCESSING
1 Ad ani Wilm ar 32 57207.5 5 8 2 .1 8 1 6 5 .8 1 1 1 7 5 .0 89 1 1 0 5 1 0 - 259
2 Pat anjali Foods 55 32120.7 8 8 6 .4 9 8 4 6 .6 1 1 4 1 7 .3 85 1 1 7 0 1 1 279
3 Godrej Agrovet 155 9553.2 3 0 1 .9 1 9 3 1 .5 3 8 0 8 .7 78 5 2 7 2 272
4 LTFo o d s 205 7296.0 4 0 2 .7 2 7 1 7 .1 3 9 9 2 .2 64 5 0 18 0 426
5 Hatsun Agro Product 208 7217.3 1 6 5 .9 1 4 4 0 .7 3 2 6 8 .5 71 3 3 11 2 375
6 KRBL 245 6069.7 7 0 1 .0 4 6 9 1 .7 4 9 5 1 .3 72 2 0 7 0 0 434
7 Avant i Feeds 279 5178.6 2 7 8 .7 1 8 1 4 .1 2 1 1 3 .4 80 3 2 6 0 2 20
8 Gujarat Am b uja Exports 287 5067.5 3 3 0 .1 2 4 3 4 .0 2 6 7 8 .1 71 2 7 - 9 0 0 94
9 Venkys (Ind ia) 329 4267.9 7 0 .5 1 2 9 8 .6 1 5 0 7 .7 82 6 3 0 6 0 0 188
10 HM AAgro Industries 396 3247.9 1 2 0 .4 4 5 4 .0 8 2 1 .6 76 3 2 - 13 0 0 269
11 BCL Industries 601 1902.7 6 6 .3 4 7 0 .2 9 2 4 .4 78 2 7 0 6 1 1 692
12 KSE 647 1617.1 - 2 .4 2 1 4 .1 2 3 3 .1 90 4 1 0 5 0 0 0 0 126

Business Standard
M arch 202 4
 — ADVERTORIAL YWUTS
HSIIDC'S MEGA PROJECTS TO SPUR
RAPID INDUSTRIAL GROWTH IN HARYANA
Meticulously planned various Mega Projects of HSIIDC are leading the way for
golden era of Industrial Growth in Haryana

I
n line with the Indian growth story,
which has lead India into elite group of
top five world economies; HSIIDC continues
to drive Haryana on the roads to infrastructure
and industrial development thereby catalysing
all round economic growth in the State.
In fact, HSIIDC various meticulous mega
projects ensures that Haryana aptly epitomizes
the growth story of India.
In keeping with this spirit, rightfrom provision
of state-of-the-art infrastructure to facilitation,
HSIIDC ensures a smooth start up support
to the new enterprises. Haryana State
Industrial and Infrastructure Development
Corporation Limited (HSIIDC)wasestablished
in 1967 as a wholly owned company by the
State of Haryana. It functions under the
aegis of the Department of Industries
and Commerce, Government of Haryana.
Objects The objects of Haryana State
Industrial and Infrastructure Development
Corporation Limited (HSIIDC) include, inter-
alia, the development of industrial infrastructure
of the State and to acquire lands for integrated
industry townships/parks including housing
and related social, institutional, recreational,
and commercial infrastructure essential for
promotion and growth of industry in the
at Patli Hajipur, Manesar. The project is the National Capital Region, in various
state of Haryana and develop them suitably.
having an investment of Rs. 1,389 crore dimensions constantly requires Industrial
Currently Mega projectsof HSIIDC (Haryana
in the State of Haryana besides generation products. Requirements such as raw material
State Industrial & Infrastructure Development
of employments for 16,000 persons directly for real estate, pharmaceutical needs,
Corporation) underway includes allotment
and indirectly. logistics needs etc. and ever emerging
of 800 acre land at IMT Kharkhoda
Developing Smart Cities has been a pressing requirements of inhabitants in capital of the
under Ultra Mega Project category for setting
issue for our country to carter the needs country is met by the Industrial units in
up Car Manufacturing Facility, with an
of the urban population by creating job the Industrial Model Townships developed
investment of Rs. 18,000 crore with
opportunities and place to live-work- in surrounding areas of Delhi.
target to generate employment avenues
play. For this, HSIIDC has been working for While, paving way for rapid industrialisation-
for about 11,000 persons. Apart from
HSIIDC has maintained fiscal prudence.
that Suzuki Motorcycle India has been
As per PBTof the Corporation as per budget
allotted 100 acre land at IMT Kharkhoda
accounts for the F.Y.2023-24 was Rs. 1420
under Mega Project category for setting up
crore. Based on the suggestions/observations
Two-wheeler Manufacturing Facility, with
of the Statutory Auditors, the annual accounts
an investment of Rs. 1,466 crore which
have been revised and as per revised
would generate employment avenues for
accounts the PBT is Rs.151.13 crore.
about 2,000 persons.
The PBT of the Corporation for the F.Y.2022-
In Sohnacity of Gurugram, through Electronic
23 is Rs.766 crore as per provisional accounts
Manufacturing Cluster, 178 acre land
HSIIDChas developed 31 Industrial Model
has been allotted to ATL Battery Technology
Townships / Industrial Estates / Theme
India - a manufacturer of li-Ion Polymer
developing a Global City in Gurugram. Parks over an area of about 30,000
cell. An investment of Rs. 7197 has
On the way to moving forward in this direction, acres. These Industrial Model Townships
been brought in the state of Haryana besides
work for development of trunk infrastructure have complete infrastructure facilities with
generating employment opportunities for
for Phase 1 of the project has been awarded sites for Industrial, Commercial, Residential
6,786 persons. Online sales giant Flipkart
and work is most likely to be completed & Institutional purpose.
is setting up Asia's biggest supply
in targeted deadline of next three years. Nearly 22000 Industry plots have been
centre/warehouse on 140 acres land
The state of Haryana has advantages of carved out and more than 17000 allottees
with a covered area of 3 million sq. feet
being very close to NCR, the growth in operate from these Industrial Estates.
SECTOR PERFORMANCE US1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
13 Cham anlal Setia Exports 689 1452.8 1 1 7 .7 5 2 8 .7 7 2 9 .1 74 0 0 13 1 0 3 0 432
14 Foods & Inns 802 1097.8 4 7 .4 3 1 2 .3 6 5 5 .6 72 1 1 13 3 1 2 0 888
15 Agro Tech Foods 901 854.1 1 5 .1 4 8 6 .1 5 5 0 .2 57 1 3 27 0 3 1 1 483
16 Kriti Nutrients 927 795.2 2 0 .8 1 3 2 .4 1 7 2 .9 89 2 0 3 0 1 1 0 349
17 Sarveshwar Foods 951 763.6 7 .8 1 9 1 .4 5 0 1 .6 90 0 0 4 4 0 0 - 977
TOTAL - 145709.6 4112.3 37129.1 49500.6 83 2 1 7 1 1 1 1 -
SHARE N BS1000 - 1.2 0.6 0.7 0.5 1.8 0.2 0.3 1.3 0.5 0.5 0.3 0.6 0.2 -

43 FOOTWEAR & ACCESSORIES

1 Bata India 370 3526.3 3 2 3 .0 1 4 3 8 .2 2 6 8 5 .1 44 12 2 2 16 3 8 3 5 414
2 Relaxo Foot wears 453 2723.7 1 5 4 .5 1 8 5 5 .1 2 0 3 8 .5 46 13 3 4 20 1 5 2 2 180
3 Campus Act ivewear 651 1595.3 1 1 7 .1 5 5 2 .1 8 9 8 .3 54 5 1 6 18 2 4 2 - 472
4 Bhart iya Int ernat ional 908 838.0 6 2 .6 3 8 7 .9 8 9 2 .4 52 7 1 - 24 5 3 1 - 981
5 Sup erho use 933 786.7 2 6 .5 4 2 2 .6 6 3 1 .4 40 7 2 0 41 2 2 1 0 761
TOTAL - 9469.9 683.7 4655.9 7145.6 47 10 2 3 20 2 6 2 3 -
SHARE N BS1000 - 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.4 0.1 0.1 0.1 0.1 0.1 -

27 HEALTHCARE
1 Apollo Hospitals Enterprise 95 16727.3 8 1 9 .1 5 8 5 5 .7 1 1 2 2 3 .1 51 13 1 4 18 2 4 2 1 446
2 Aster DM Healthcare 123 12292.3 4 2 4 .9 3 6 6 1 .3 1 0 8 0 9 .1 31 32 1 2 20 3 6 0 - 628
3 Fortis Healthcare 224 6694.2 5 8 8 .7 6 3 8 4 .1 9 9 0 9 .7 22 16 2 - 42 2 5 3 1 642
4 M ax Healthcare Institute 291 4970.6 1 1 0 3 .5 7 4 0 9 .6 8 7 0 3 .7 19 16 1 1 35 2 5 -1 2 550
5 Narayana Hrudayalaya 311 4601.3 6 0 6 .3 2 1 3 0 .3 3 2 5 6 .0 22 19 2 2 32 2 5 3 1 292
6 Global Health 446 2760.7 3 2 6 .1 2 4 2 8 .2 3 6 6 4 .0 23 23 2 1 27 3 5 4 - 574
7 Krishna Institute of M edical Sciences 532 2243.8 3 3 6 .3 1 4 0 1 .1 2 3 7 1 .8 21 15 2 1 32 2 6 5 - 623
8 Dr Lal Pat hlabs 572 2058.6 2 3 8 .9 1 6 3 3 .1 2 0 8 5 .8 22 18 1 2 30 2 7 5 2 353
9 Healthcare Global Enterprises 631 1715.9 2 9 .4 8 5 1 .6 1 8 1 0 .8 25 16 2 2 36 6 10 2 - 872
10 Rai n b o w Childrens M edicare 770 1204.4 2 1 0 .8 1 0 5 4 .9 1 6 3 7 .3 13 12 2 - 37 5 7 6 3 695
OC

CO
11 Poly M edicure 775 1177.0 1 7 9 .3 1 2 4 1 .6 1 3 9 8 .6 29 17 3 0 24 1 5 5 2

4
12 M etropolis Healthcare 780 1163.4 1 4 2 .9 9 8 5 .8 1 2 6 8 .2 22 22 1 2 26 3 8 4 4 498
13 Indraprast ha M edical Corp 794 1108.7 8 6 .2 3 7 9 .5 4 0 8 .0 - 22 2 8 53 0 4 3 2 123
14 Kovai M edical Center & Hospital 828 1035.7 1 1 5 .8 7 1 9 .0 1 2 4 9 .3 27 17 2 1 25 4 9 4 1 651
15 Jupiter Life Line Hospitals 879 906.6 7 2 .9 3 6 7 .5 8 3 4 .3 18 17 3 - 40 5 4 6 - 749
16 Shalb y 891 873.3 6 7 .7 9 2 7 .8 1 1 1 7 .9 12 16 2 2 49 1 6 4 1 783
17 Art emis M edicare Services 965 744.8 3 8 .6 3 3 1 .2 6 9 8 .0 - 16 2 1 67 3 4 2 1 725
TOTAL - 62278.8 5387.2 37762.3 62445.5 31 19 2 2 28 2 5 2 1 -
SHARE N BS1000 - 0.5 0.7 0.7 0.6 0.3 1.1 0.1 1.7 0.8 0.5 0.7 0.5 0.2 -

36 HOTELS & RESTAURANTS

1 Ind ian Hotels Co 249 5960.8 1 0 0 2 .6 7 3 2 1 .9 1 1 2 6 4 .8 8 27 5 2 26 4 7 5 2 636
2 Jub ilant Foodworks 276 5214.3 3 5 3 .2 2 0 3 7 .8 4 5 9 2 .5 24 17 5 6 25 4 9 3 2 501
3 Devyani Int ernat ional 414 3030.3 2 6 5 .0 9 7 6 .5 2 5 6 0 .0 30 11 6 5 26 5 9 -1 - 665
4 M ahind ra Holidays & Resorts 491 2423.1 1 1 5 .1 - 5 3 5 .8 7 7 3 9 .7 6 27 5 9 28 5 12 2 - 914
5 Westlife Fo o d wo rld 518 2298.5 1 1 1 .6 5 6 5 .9 1 7 6 8 .9 30 14 6 5 29 4 7 2 2 698
6 Sapphire Foods India 520 2296.7 2 3 3 .4 1 2 5 8 .0 2 2 2 9 .4 32 13 6 4 25 4 12 -5 - 742
7 EIH 550 2148.8 3 1 4 .6 3 2 7 7 .2 3 6 7 5 .2 9 20 6 1 35 2 6 6 3 502
8 Rest aurant Brands Asia 563 2090.2 - 2 2 1 .2 8 0 4 .7 2 0 4 6 .4 35 18 9 7 24 5 14 - - 920
9 Barb eq ue- N at io n Hospitality 753 1248.8 1 7 .0 3 9 2 .9 1 0 9 7 .1 33 21 8 - 18 6 12 1 - 869
10 Chalet Hotels 758 1238.7 1 8 3 .3 1 5 4 2 .4 4 4 4 4 .0 8 12 5 - 31 12 9 7 - 930
11 Coffee Day Enterprises 791 1121.0 - 3 7 9 .8 3 0 5 9 .7 5 0 6 6 .8 33 12 3 1 63 8 14 0 - 976
12 Lemon Tree Hotels 888 884.6 1 1 4 .6 2 9 4 .0 3 0 3 3 .1 5 17 8 0 18 21 11 4 - 955
13 Sam hi Hotels 936 782.8 - 3 3 8 .6 - 8 0 7 .7 1 9 7 3 .3 - 16 7 3 38 67 12 0 - 987
TOTAL - 30738.7 1770.7 20187.6 51491.1 20 19 6 4 28 7 9 2 1 -
SHARE N BS1000 - 0.3 0.2 0.4 0.5 0.1 0.5 0.3 1.6 0.4 0.7 0.6 0.3 0.1 -

28 JEWELLERY
1 Titan Company 41 43118.0 3 2 5 0 .0 1 1 7 9 8 .0 2 1 4 6 3 .0 76 4 0 2 6 1 1 3 2 220
2 Asian Star Co 305 4723.6 8 2 .6 1 4 3 3 .6 2 0 8 4 .1 86 1 0 0 9 0 0 0 0
CO
6

3 Vaib hav Global 459 2697.1 1 0 5 .0 1 1 9 9 .6 1 3 9 9 .6 36 19 0 2 35 0 3 1 4 249

4 Trib hovand as Bhim ji Zaveri 493 2417.0 4 0 .2 5 6 0 .4 1 1 4 4 .0 87 3 0 - 5 2 1 0 0 690
5 Kalyan Jewellers India 533 2237.1 4 3 3 .1 3 6 3 4 .9 7 9 6 7 .9 85 3 0 1 2 2 2 1 0 839
6 Renaissance Global 543 2172.9 8 7 .1 1 0 2 5 .5 1 6 3 8 .2 71 5 0 5 11 2 1 0 - 590
7 Rajesh Exports 559 2113.8 1 4 3 2 .3 1 4 7 2 3 .6 1 5 4 5 6 .2 99 0 - 0 0 0 0 0 0 488
TOTAL - 59479.6 5430.2 34375.6 51152.9 96 1 0 0 1 0 0 0 0 -
SHARE N BS1000 - 0.5 0.7 0.7 0.5 6.0 0.3 0.0 1.9 0.2 0.3 0.2 0.6 0.3 -

Business Standard
M arch 2 4 4
 One Stop Financial Services

Open Trading & Demat Account | Portfolio Management Service Account zywvuts

• Portfolio Management
Services

• Equity, Derivatives • Managing

& Debt Market Public & Rights Issue
• Commodity & Currency • Mergers Acquisition
(F&O)
• Valuation of
• Depository Participant Equity Shares
• Mutual Funds Market • Takeover, Business
• Online Trading & Demat Valuation
Account • Private Placement
• Mobile Trading of Shares
App - LibordEasy • Delisting I Buyout
• Apply Online for IPOs of Shares

• Loan Syndication • Insolvency

Resolution Process
• Project Finance
• Liquidation Process
• Working Capital
Loans • All NCLT Matters
• Financial • Assistance for
Consultancy Sick Companies utrnmligdaVL

Lalit Kumar Dangi Dr. Vandna Dangi

Chairman - Libord Group Director - Libord Group ywvtsrponmlkihgfed

* Libord Brokerage Pvt. Ltd. (Stock Broker) Sebi Regn. No. INZ0000065361 Member Details:- BSE - 65581 NSE - 901251MCX - 557401
CDSL Regn. No.: IN-DP-379-20181AMFI - ARN-1355231 * * * * Libord Advisors Pvt. Ltd. (Merchant Banker) Sebi Reg. No.: INM0000120941
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* * * * * Libord Brokerage Pvt. Ltd. (PMS) SEBI Regn. No. INP000008419 | * * Libord Finance Ltd. (NBFC) RBI Regn. No. 13.00452

Registered Office: 104, M.K.Bhavan, 300, Shahid Bhagat Singh Road, Fort, Mumbai - 4000011 Contact No.: +9122 22658108109
Corporate Office: B-524-526, Chintamani Plaza, Near W.E. Highway Metro Station, Andheri Kurla Road, Andheri (East), Mumbai- 400099
Contact No.: 022 62782900 (100 Lines) | Email: office@libord.com

Websites: www.libordbroking.com | www.libordpms.com | www.libord.in | www.libord.com

Disclaimer: Investments in securities market are subject to market risk, read all the related documents carefully before investing.
SECTOR PERFORMANCE
US1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
30 M EDIA & ENTERTAINM ENT
1 Net work 18 M edia & Invest ment s 232 6406.3 - 8 4 .3 - 3 2 4 5 .0 6 8 8 3 .3 0 19 0 21 54 3 2 0 - 963
2 TV18 Broadcast 243 6085.0 1 1 6 .2 3 1 6 1 .9 9 1 9 2 .4 - 17 0 22 55 2 2 0 - 969
3 Zee Ent ert ainm ent Enterprises 275 5223.1 4 7 .8 1 0 7 2 1 .9 1 1 1 6 1 .4 - 17 0 23 47 1 6 4 7 415
4 Prime Focus 295 4923.8 1 4 7 .3 - 1 0 6 .7 5 5 6 2 .9 - 59 1 - 15 9 11 2 - 953
5 Sun TV Net work 334 4152.6 1 7 0 6 .4 9 2 6 6 .0 9 3 4 8 .6 - 3 1 1 29 0 12 14 14 161
6 PVR Inox 353 3829.7 - 3 3 5 .1 7 3 3 0 .5 1 5 4 1 8 .2 - 11 6 - 53 15 20 3 - 919
7 GTPL Hat hway 455 2714.8 1 1 3 .9 9 9 6 .7 1 2 9 2 .2 - 5 0 - 76 0 12 2 2 271
8 Dish TV India 519 2297.6 - 1 6 8 3 .5 - 7 8 8 .7 - 6 9 8 .8 1 7 0 5 129 12 37 - 1 8 - 675
9 D B Corp 545 2167.4 1 6 9 .1 1 9 4 7 .9 2 2 5 4 .7 39 18 2 2 23 1 5 3 5 380
10 Jagran Prakashan 584 2000.8 1 9 9 .8 1 5 6 4 .1 2 2 0 9 .7 28 19 2 7 24 2 5 3 4 606
11 Hat hway Cable & Dat aco m 585 1998.9 6 5 .3 4 1 8 1 .4 4 2 1 0 .4 - 5 2 1 70 0 18 1 - 678
12 Navneet Education 608 1862.7 2 0 4 .5 1 1 4 9 .9 1 4 4 2 .0 50 12 0 1 16 1 3 5 3 602
13 H T M edia 609 1862.4 - 2 2 7 .3 1 4 4 4 .6 2 6 7 7 .5 33 21 1 8 36 4 7 3 - 978
14 Siti Net works 716 1380.0 - 2 8 0 .0 - 8 2 3 .2 2 2 0 .6 - 5 1 0 83 8 25 0 - 794
15 Den Net works 756 1242.6 2 4 2 .9 3 1 5 8 .7 3 2 7 9 .8 - 7 1 1 71 0 10 -7 - 772
16 Delta Corp 792 1116.2 2 6 1 .4 2 2 1 6 .9 2 2 9 1 .2 10 14 4 0 35 2 5 6 3 703
17 M edia M atrix Wo rld wid e 860 954.6 1 .4 1 1 8 .0 2 2 9 .5 93 0 - 1 4 1 0 0 - 755
18 T.V. Today Net work 870 921.8 8 8 .2 8 2 8 .4 8 6 6 .9 - 35 1 21 24 0 4 3 45 496
19 S Chand & Company 902 850.6 6 6 .0 8 8 7 .3 1 0 5 6 .6 28 16 1 2 37 2 5 2 1 890
20 Hindust an M edia Ventures 931 791.6 - 3 8 .1 1 4 7 5 .6 1 5 8 2 .2 40 20 1 5 35 2 4 -2 - 751
21 Eros Int ernat ional M edia 953 756.6 - 1 1 6 .6 1 0 1 8 .9 1 5 0 6 .0 - 4 0 - 102 9 1 0 - 921
22 Zee M edia Corporation 971 739.8 - 6 8 .8 3 8 7 .3 6 1 8 .7 - 35 2 17 39 4 12 -1 - 812
TOTAL - 54278.5 596.6 46892.6 82606.2 8 18 1 9 48 4 9 2 3 -
SHARE N BS1000 - 0.5 0.1 0.9 0.8 0.1 0.9 0.1 6.6 1.2 0.7 1.0 0.4 0.5 -

2 M INING & M ETALS

1 Tata Steel 7 248374.1 8 7 6 0 .4 1 0 0 2 7 5 .4 2 0 2 1 5 3 .5 47 9 4 - 27 3 4 4 2 487
2 Hindalco Industries 9 221268.0 1 0 0 9 7 .0 9 4 7 9 5 .0 1 6 3 0 6 5 .0 62 6 8 - 13 2 3 1 0 328
3 JSW Steel 12 170217.0 4 1 4 4 .0 6 4 3 5 1 .0 1 4 9 1 2 8 .0 56 2 10 - 19 4 4 1 1 475
4 Vedant a 13 151289.0 1 0 5 7 4 .0 2 9 4 1 9 .0 1 1 5 4 1 2 .0 29 2 20 - 24 4 7 4 25 537
5 Coal India 16 145480.7 2 8 1 6 5 .2 5 6 4 7 4 .2 1 4 0 4 3 8 .8 0 34 2 0 34 0 3 7 10 255
6 Steel Aut horit y of India 21 111501.5 2 1 7 6 .5 5 4 7 4 6 .7 9 5 2 4 9 .3 56 11 7 - 17 2 4 1 1 666
7 Jindal Steel & Po wer 36 54194.1 3 1 7 3 .9 3 8 3 9 4 .1 5 2 9 4 2 .6 46 2 14 - 21 3 5 2 0 287
8 Jindal Stainless 46 36787.5 2 1 1 4 .5 1 1 8 9 4 .8 1 6 3 8 9 .1 69 1 6 0 14 1 2 2 1 154
9 Hindust an Zinc 48 35620.0 1 0 5 1 1 .0 1 2 9 3 2 .0 2 6 0 6 2 .0 - 2 10 - 34 1 9 13 90 192
10 NMDC 75 20169.0 5 6 0 2 .6 2 2 6 0 6 .6 2 4 4 4 9 .8 0 8 1 0 51 0 2 10 10 130
11 Jindal Saw 82 18086.6 6 3 2 .4 8 5 6 7 .2 1 3 1 6 4 .4 62 7 4 0 17 4 3 1 1 369
12 APL Apollo Tubes 93 16795.6 6 4 1 .9 3 0 0 5 .6 4 0 1 9 .1 87 1 1 0 4 0 1 1 1 70
13 Tube Invest m ent s of India 103 15356.4 9 5 5 .6 2 9 4 5 .8 5 8 1 9 .3 64 8 2 0 12 0 3 3 0 110
14 National Alu m in iu m Co 110 14507.2 1 4 3 4 .7 1 3 1 2 6 .4 1 3 8 3 6 .8 22 13 33 - 15 0 5 3 6 136
15 Shyam M etalics & Energy 122 12965.0 8 5 7 .6 6 7 7 6 .8 8 5 7 8 .4 71 3 5 1 9 1 4 1 0 176
16 Welsp un Corp 128 11792.3 2 0 6 .7 4 6 0 1 .1 8 2 8 2 .7 75 5 3 - 10 2 3 1 1 646
17 Surya Roshni 188 8064.4 3 3 5 .5 1 8 6 3 .6 2 3 1 3 .1 77 5 2 0 9 1 1 2 0 122
Kirloskar Ferrous Industries 228 6486.7 3 9 5 .1 1 1 7 9 .6 3 0 7 6 .4 57 5 8 0 16 1 3 3 1 358
8

19 Jayaswal Neco Industries 233 6391.9 2 2 6 .9 2 0 5 7 .6 5 4 7 2 .1 53 4 6 0 24 7 4 -3 - 796

20 Jai Balaji Industries 237 6211.0 5 7 .8 5 5 6 .1 1 4 4 5 .7 70 2 4 0 19 1 2 1 - 429
21 M ukand 238 6186.0 1 7 1 .8 8 5 3 .8 2 4 2 1 .9 64 3 5 - 21 3 1 0 0 671
22 Go d awari Power & Ispat 253 5863.9 7 9 3 .4 3 8 6 4 .4 4 2 5 6 .7 57 3 6 - 12 0 2 5 1 112
23 M aharasht ra Seamless 256 5807.9 7 6 4 .8 4 7 6 9 .9 5 0 9 0 .9 64 2 6 0 9 1 2 3 1 172
24 Sunflag Iron & Steel Co 302 4790.2 1 1 1 5 .3 2 9 6 7 .0 3 9 9 0 .0 47 2 7 - 10 2 2 8 - 450
25 Rat nam ani M etals & Tubes 309 4647.5 5 1 0 .5 2 5 3 1 .8 2 9 4 5 .5 66 5 2 0 10 1 2 4 2 138
26 Sarda Energy & M inerals 330 4267.3 6 0 2 .1 3 3 0 9 .8 4 8 7 2 .5 59 3 2 - 11 3 4 5 1 477
27 Himadri Speciality Chemical 332 4230.0 2 1 6 .0 2 2 8 3 .3 3 1 2 8 .8 78 2 0 - 10 2 1 2 0 525
28 Gallant t Ispat. 341 4020.2 1 4 0 .9 2 2 2 5 .0 2 7 7 6 .7 82 2 1 - 6 1 2 2 - 464
29 Tinplat e Company of India 342 4006.0 1 4 2 .8 1 2 6 3 .1 1 3 7 3 .6 70 4 5 0 14 0 2 1 1 106
30 GM D C 346 3913.6 1 2 1 5 .7 5 7 9 8 .3 6 3 7 6 .4 - 4 1 0 50 0 2 11 9 189
31 Prakash Industries 374 3461.6 1 9 0 .5 2 9 5 3 .8 3 5 9 6 .4 73 6 2 - 7 2 4 - - 468
32 Lloyds M etals & Energy 377 3431.0 - 2 8 8 .6 1 5 2 9 .0 1 5 5 5 .9 15 2 0 - 93 2 1 -3 - 430
33 Tata M etaliks 384 3342.6 8 0 .5 1 5 7 9 .5 1 7 4 6 .3 68 5 1 0 19 1 2 1 0 351
34 Usha M artin 385 3320.5 3 5 0 .1 2 0 2 6 .5 2 5 1 0 .8 55 11 5 - 12 1 2 3 2 290
35 Goodluck India 402 3165.7 8 7 .8 6 2 0 .0 1 2 2 4 .1 73 4 4 0 12 2 1 1 0 567
36 Precision Wires India 410 3065.2 5 9 .5 4 5 0 .3 4 7 3 .2 91 1 1 - 2 1 0 1 0 131
37 M ait han Alloys 415 3027.9 4 9 9 .1 2 8 0 3 .3 2 8 2 7 .4 44 1 17 - 15 0 1 5 1 165
38 Pennar Industries 418 2994.1 7 5 .4 7 7 7 .1 1 4 8 1 .4 62 10 1 - 18 3 2 1 - 529
39 Gravita India 422 2927.9 2 0 1 .1 5 7 6 .2 9 5 5 .0 79 5 1 0 5 1 1 1 1 254

80 Business Standard
M arch 202 4
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SECTOR PERFORMANCE
US 1000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
40 RHI M agnesita India 444 2778.9 - 4 6 6 .1 2 8 0 1 .7 4 4 8 4 .7 63 7 3 0 37 1 3 2 2 779
41 Indian M etals & Ferro Alloys 448 2754.2 2 2 5 .3 1 8 4 2 .5 2 2 2 9 .9 54 7 4 - 17 2 4 4 2 482
42 Ram Ratna Wires 457 2708.5 4 4 .9 2 9 7 .5 5 7 9 .7 90 2 1 0 3 1 1 1 0 459
43 ISMT 473 2605.6 8 7 .7 1 2 9 2 .2 1 5 6 9 .6 53 6 16 - 16 1 2 2 - 462
44 MSP Steel & Power 480 2540.2 - 5 0 .6 5 3 8 .5 1 3 7 2 .6 81 2 1 1 12 3 2 0 - 830
45 Visa Steel 495 2404.4 1 6 6 0 .3 - 7 7 2 .1 6 2 5 .0 14 1 6 - 5 1 3 - - 897
46 Hi-Tech Pipes 496 2404.3 3 7 .7 4 1 8 .1 6 9 5 .1 4 1 1 - 89 1 1 1 0 411
47 Technocraft Industries 534 2232.5 2 6 7 .1 1 3 8 9 .3 2 1 0 1 .0 43 9 3 0 23 1 3 4 - 555
48 Sand ur M anganese & Iron Ores 536 2204.8 2 7 0 .8 1 9 3 3 .7 2 1 5 8 .2 54 6 0 - 20 1 3 4 1 412
49 M an Industries 539 2187.6 6 8 .0 1 0 0 4 .2 1 3 0 9 .1 77 3 1 - 11 2 2 1 1 686
50 Ashap ura M inechem 576 2043.2 1 1 7 .0 6 7 2 .2 1 7 3 1 .8 28 5 3 0 50 3 4 1 - 845
51 Kalyani Steels 589 1958.3 1 6 7 .0 1 4 8 9 .5 2 0 0 4 .7 61 3 4 - 16 1 2 3 2 793
52 Vard hm an Special Steels 618 1811.1 1 0 0 .5 6 4 2 .2 7 8 8 .6 63 5 10 - 12 1 2 2 0 393
53 Hind ust an Copper 623 1781.1 2 9 5 .5 2 0 8 2 .2 2 2 8 6 .5 1 17 7 0 42 1 10 6 5 398
54 KIOCL 646 1633.7 - 9 7 .7 2 0 0 2 .0 2 6 2 7 .6 69 10 12 0 14 1 2 -2 - 718
55 JTL Industries 658 1560.4 9 0 .1 4 0 7 .1 4 6 3 .5 87 1 - 0 3 0 0 2 0 296
56 MOIL 681 1484.1 2 5 0 .6 2 2 4 4 .3 2 3 1 1 .8 3 38 4 0 25 - 8 6 5 291
57 Ram a Steel Tubes 691 1451.0 2 6 .7 2 3 6 .7 4 4 4 .1 93 1 0 0 2 1 0 1 - 708
58 IFGL Refractories 704 1409.4 7 9 .2 1 0 0 5 .1 1 1 6 5 .2 52 14 3 - 19 0 4 2 2 737
59 Vesuvius India 718 1377.0 1 1 6 .8 9 9 7 .8 1 0 2 3 .0 59 7 2 0 19 0 2 3 1 148
60 Tulsyan NEC 759 1238.4 2 4 5 .8 3 9 5 .1 7 9 6 .3 65 3 8 - 6 1 2 -5 - 696
61 D P Wires 765 1221.7 4 1 .0 1 9 1 .5 1 9 3 .7 88 1 2 0 5 0 0 1 0 118
62 M ishra Dhatu Nigam 783 1138.4 1 5 6 .3 1 2 8 5 .4 2 3 6 2 .3 34 11 9 0 19 2 5 5 - 879
63 Beekay Steel Industries 793 1113.0 1 0 5 .0 8 1 0 .2 1 0 5 7 .7 59 3 10 0 11 1 2 4 0 465
64 Scan Steels 803 1097.1 1 5 .3 3 6 6 .0 4 7 8 .4 79 3 9 0 4 2 1 1 - 663
65 Salasar Techno Engineering 812 1073.4 4 0 .2 4 0 0 .1 6 7 7 .5 54 4 1 0 31 3 1 1 0 831
66 Rajrat an Global Wire 874 915.3 1 0 0 .1 4 3 5 .3 6 1 1 .3 61 4 7 - 10 2 2 3 1 374
67 M aan Alu m in iu m 912 831.1 5 0 .0 1 3 0 .3 1 8 6 .8 77 2 2 - 10 1 1 2 0 377
68 Rathi Steel & Power 918 824.6 8 7 .2 - 7 1 .0 8 2 .7 74 1 7 0 5 1 1 0 - 717
69 NILE 929 794.3 2 2 .6 1 9 9 .5 2 1 6 .3 77 1 3 0 14 0 0 1 0 210
70 An kit M etal & Power 935 783.1 - 9 8 .8 - 8 8 2 .6 2 2 7 .0 82 2 11 0 13 0 5 - - 790
71 KICM et aliks 939 777.9 1 8 .6 1 7 7 .8 3 0 9 .1 86 3 1 - 3 1 2 2 - 601
72 Incredible Industries 961 748.7 4 .9 1 2 6 .6 1 7 6 .6 93 1 2 - 2 1 1 0 - 613
73 Bed m ut ha Industries 962 747.7 1 3 .0 9 9 .5 3 7 3 .4 76 3 4 0 6 4 4 - - 840
74 M anaksia Steels 966 744.4 1 2 .2 2 9 0 .4 3 4 0 .3 83 3 4 - 5 1 1 1 - 453
75 Kam d h en u 976 732.1 4 1 .0 1 6 6 .7 1 7 9 .1 75 6 5 2 4 0 1 2 1 137
76 Shera Energy 986 721.9 9 .1 7 0 .6 2 0 2 .7 90 1 2 - 1 3 1 0 - 829
77 M anaksia Coated M etals & Inds 987 721.3 9 .4 1 1 9 .3 3 1 3 .5 80 2 3 - 9 3 1 0 0 909
78 Supershakt i M etaliks 998 704.5 3 3 .3 2 3 7 .3 2 4 9 .9 74 2 13 0 4 1 1 2 0 245
79 20 M icrons 999 704.2 4 1 .8 2 9 2 .6 4 0 1 .9 52 8 7 - 20 3 2 2 0 566
80 Swast ik Pipe Ltd 1000 703.6 9 .1 2 0 8 .3 3 2 0 .7 86 2 2 0 4 2 1 0 - 922
TOTAL - 1447693.4 102239.6 601323.5 1146629.9 46 8 8 0 21 2 4 3 7 -
SHARE N BS1000 - 12.2 14.1 11.6 10.9 10.1 10.7 16.6 0.4 13.910.4 11.917.6 26.8 -

33 M ISCELLANEOUS
1 SIS 133 11386.3 3 4 6 .4 2 3 3 3 .3 4 1 6 1 .0 1 81 - - 14 1 1 -1 - 408
2 Tho m as Cook (Ind ia) 284 5111.8 6 .5 1 2 1 4 .6 3 0 0 2 .0 - 15 1 1 79 2 2 0 0 500
3 I RC T C 361 3690.4 1 0 0 5 .9 2 4 7 8 .4 2 7 2 2 .1 5 7 0 0 49 0 1 9 12 89
4 Prithvi Exchange (Ind ia) 411 3053.9 4 .6 3 1 .7 3 8 .2 99 0 0 0 1 0 0 0 0 452
5 Updater Services 561 2111.1 3 5 .8 3 7 4 .0 7 6 8 .6 4 66 0 - 25 1 2 1 - 437
6 AGS Transact Technologies 632 1707.8 3 7 .0 5 3 5 .1 1 7 9 2 .2 10 14 5 - 45 8 14 1 - 946
7 EKI Energy Services 703 1413.1 1 1 9 .7 5 0 4 .8 7 8 5 .0 72 4 0 0 11 0 0 3 - 336
8 Tega Industries 757 1240.5 1 8 4 .0 1 0 4 9 .0 1 4 1 4 .7 43 13 3 0 17 2 3 4 1 543
9 Com put erAge M anag em ent Services 845 998.6 2 8 5 .3 7 8 1 .0 9 4 7 .0 - 36 1 - 18 1 6 10 19 300
10 IRM Energy 850 985.8 6 3 .2 3 2 5 .3 6 9 4 .9 79 1 1 0 7 2 2 2 0 800
11 Borosil Renewab les 857 967.7 6 9 .6 8 9 6 .3 1 3 5 1 .6 22 12 25 - 24 1 6 3 - 927
12 Ant o ny Waste Hand ling Cell 890 876.6 6 8 .1 3 5 4 .7 9 2 1 .5 0 25 13 - 43 3 4 2 - 931
13 Dreamfolks Services 940 776.6 7 2 .5 1 5 6 .3 1 6 7 .0 - 2 0 - 85 0 0 3 - 111
14 KFin Technologies 974 737.5 1 9 5 .7 8 7 0 .2 1 0 3 0 .7 - 39 1 0 17 1 6 8 - 706
15 Pokarna 984 725.3 6 5 .8 5 0 7 .2 9 7 5 .4 40 8 3 2 22 7 6 3 0 854
16 Allcargo Term inals 988 720.8 5 7 .6 1 9 3 .6 6 2 2 .7 - 10 4 - 64 4 7 2 - 867
TOTAL - 36503.7 2617.5 12605.3 21394.4 18 36 2 0 31 2 3 2 2 -
SHARE N BS1000 - 0.3 0.4 0.2 0.2 0.1 1.2 0.1 0.1 0.5 0.2 0.2 0.3 0.2 -

1 OIL & GAS

1 Reliance Industries 1 920274.0 6 6 7 0 2 .0 6 0 2 8 6 3 .0 1 1 7 7 7 6 6 .0 67 3 3 - 11 2 4 2 1 511
2 Indian Oil Corporation 2 872092.6 9 7 9 2 .1 1 3 6 2 2 6 .1 2 9 4 0 0 7 .5 86 1 1 0 7 1 2 0 0 263

Business Standard
M arch 202 4
 SOLI D GHAR

B A N GU R TNMEC

C EM EN T utsronmjhgfecba

g j customer.care@shreecement.com f @bangurcement | (5) @bangur_cement


BHARAT AGRIFERT AND REALTY
LTD - NURTURING GROWTH
ACROSS DIVERSE SECTORS
Bharat Agri Fert And Realty Ltd., has
been a stalwart in the construction and
development industry since its inception
in 1958.The company's multifaceted approach
encompasses the construction of Residential
and Commercial Complexes, the manufacturing
of fertilizers, and the operation of a renowned
resort. Situated in Kharivali village, Maharashtra,
the company's production plant has been
a cornerstone of its operations.
In 2012, Bharat Fertiliser Industries Ltd
underwent a strategic rebranding, renaming
itself Bharat Agri Fert & Realty Ltd, signalling
a broader vision and scope. This move
was pivotal in aligning the company with
its evolving objectives. Specializing in the
production of 66,000 tonnes of Single Super
Phosphate (SSP) fertilizers and 33,000
tonnes of sulphuric acid yearly, the company
has solidified its position in the agricultural
sector. Recent modernization initiatives have
played a crucial role in boosting productivity,
elevating product quality, and fostering
environmental sustainability. By investing in
advanced technology and processes, Bharat
Agri Fert & Realty Ltd., not only meets market
demands but also ensures responsible
stewardship of natural resources. This
commitment underscores the company's
dedication to delivering value to customers
while prioritizing environmental consciousness,
thereby securing its position as a leader
in the fertilizer industry.
The company's diversified product range
includes single super phosphate in powder zyxvutsronlihgfedcaYVTRPONMLJIGFEDCBA
MR.YOGENDRA PATEL,
Executive Director & MD
Bharat Agri Fert And Realty Ltd.
and granulated forms, sulphuric acid, and
alum in liquid and solid states. Furthermore,
Bharat Agri Fert And Realty Ltd.
has made notable progress in the
real estate industry, including
ongoing projects like constructing
tall buildings in Majiwada, Thane.
Additionally, under Regulation
30 of the Securities and Exchange
Board of India (Listing Obligations
and Disclosure Requirements)
Regulations, 2015, Anchaviyo Resort
operated by the company, is announcing its
— ADVERTORIAL
MR.VIJAL PATEL,
DIRECTOR
Bharat Agri Fert And Realty Ltd.
strategic expansion efforts.
The company operates across three key
divisions:
Fertilizer Division - Despite facing challenges
like rising costs of prime raw materials
and constraints on working capital,
the Fertilizer Division of the company
remains proactive. It is currently
negotiating to expand working
i capital limits. Additionally, strategic
marketing partnerships and
projected sales forecasts paint
a promising picture of this division's
future growth and profitability.Through
these initiatives, the company demonstrates
its resilience and commitment to overcoming
obstacles while positioning itself for success
in the fertilizer market.
Anchaviyo Resort - The resort division
h as ach i eved re markabl e su ccess i n
Maharashtra, with an impressive 84% surge
in sales. This surge reflects the division's
ability to build a strong brand image and
attract customers, highlighting its growing
popularity and market presence in the region.
Realty Division -This division has reached
significant milestones, obtaining all requisite
permissions and approvals for its ongoing
and upcoming projects, notably the construction
of high-rise towers in Thane. With these
regulatory hurdles cleared, the company
is primed to capitalize on these ventures,
anticipating substantial revenue generation.
This achievement not only signifies the
division's operational efficiency but also
— ADVERTORIAL YWVUTSRO
underscores the company's commitment to assets, laying the groundwork for future expansion
delivering high-quality real estate developments and revenue generation. Despite hurdles in
while adhering to regulatory standards, positioning the fertilizer sector, we maintain flexibility,
it favourably in the competitive real estate exploring strategic options to enhance efficiency
market. and financial performance. Additionally,
At present, Anchaviyo Resort boastsasts as part of our growth strategy, we are
60 operational rooms, but the exploring a joint venture opportunity
exf
company is set to embark on an;] with a prominent corporate hotel
ambitious growth trajectory. chain to further elevate our offerings
Phase 1 Expansion aims to chl fvi and market reach once the
double room capacity to 120 expansion phase is completed,
125 within the next two years. 3 stated the spokesperson for
Following Phase 1, Phase 2 Expansion;ion1 Bharat Agri Fert And Realty Ltd.
will further augment facilities ties. Fie further adds, "Positioned at the
accommodating 175-180 rooms along forefront of progress, we prioritize delivering
with a Banquet Hall, reinforcing its status as value to our stakeholders and fostering community
a premier venue for weddings and corporate development. With a strong business model
events. This expansion drive is in alignment and forward-thinking leadership, we are poised
with Anchaviyo Resort's commitment to support to reach unprecedented milestones in the
the vision of the Honourable Prime Minister of foreseeable future."
India, championing "WED IN INDIA"to bolster
the nation's economy by retaining economic
benefits within the country. Furthermore, as
part of its growth strategy, Anchaviyo Resort
is exploring a joint venture opportunity with
a prominent corporate hotel chain to enhance
offerings and expand market reach upon
completion of the expansion phase
The leadership team, spearheaded by Vijal
Yogendra Patel, brings a wealth of experience
and expertise to the table. With a meticulous
approach to design and operations, the directors
ensure the company's continued growth
and success.
With ongoing projects and expansion plans,
the company is poised for substantial growth
in the coming years. Leveraging its transition
from fertilizer to real estate, the company aims
to generate significant cash flows and explore
new development opportunities.
"The corporate overview highlights our firm
foothold in the market and significant land
SECTOR PERFORMANCE OC
01 1000
Figures in ~ crore I As % of Reported t ot al income
Ind Name Revenue Total Net Net worth Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
3 Oil & Natural Gas Corp 3 638965.2 3 5 4 4 0 .5 2 6 0 0 3 9 .6 4 6 5 0 0 6 .8 42 2 0 - 44 1 4 2 2 252
4 Bharat Petroleum Corp 4 477854.6 2 1 3 1 .1 5 3 5 2 2 .4 1 2 5 0 8 8 .0 91 1 1 - 5 1 1 0 0 298
5 Hind ust an Petroleum Corp 5 443236.8 - 6 9 8 0 .2 3 2 2 6 3 .3 1 0 3 7 6 5 .6 96 1 0 0 4 0 1 -1 - 581
6 GAIL (Ind ia) 14 150504.9 5 6 1 6 .0 6 4 7 4 7 .9 8 9 3 1 3 .9 87 1 3 0 2 0 2 1 2 225
7 M RPL 22 107807.1 2 6 5 5 .4 9 8 6 4 .5 2 7 4 1 0 .2 90 1 0 - 2 1 1 1 - 330
8 Chennai Petroleum Corp 26 75912.9 3 5 3 1 .5 6 4 7 5 .1 1 0 7 7 0 .6 89 1 0 - 3 0 1 2 1 128
9 Petronet LNG 31 60560.4 3 3 2 5 .8 1 5 2 6 4 .6 1 9 4 2 4 .0 89 0 0 - 1 1 1 2 2 60
10 Oil India 45 38067.5 8 7 2 8 .6 3 5 1 1 0 .4 5 9 0 3 8 .3 25 8 1 - 25 2 5 9 6 416
11 Gujarat State Petronet 79 18255.1 1 6 4 1 .5 6 2 0 9 .5 9 8 1 7 .0 - 1 1 0 77 0 3 4 2 85
12 Gujarat Gas 92 16866.4 1 5 2 8 .4 7 0 2 8 .0 7 3 0 6 .4 - 1 1 0 83 0 3 3 3 1
13 Indraprast ha Gas 109 14607.2 1 6 3 9 .7 7 9 3 1 .2 8 0 9 5 .7 71 1 3 0 7 0 2 3 6 4
14 M ahanag ar Gas 231 6412.0 7 9 0 .1 4 1 3 4 .2 4 2 8 3 .3 69 2 2 - 6 0 4 4 2 42
15 Ad ani Total Gas 320 4429.3 5 4 6 .5 2 9 4 1 .0 4 3 8 5 .6 70 1 2 0 6 2 3 4 1 343
16 Gand har Oil Refinery 336 4086.2 1 9 0 .1 6 9 0 .4 9 4 8 .8 85 1 0 0 5 1 0 1 0 248
17 Confidence Petroleum India 506 2363.6 9 2 .8 7 2 3 .3 1 3 8 4 .6 80 3 1 0 6 1 4 1 0 816
TOTAL - 3852295.8 137371.7 1246034.3 2407812.3 75 2 1 0 14 1 3 1 1 -
SHARE N BS1000 - 32.4 18.9 24.1 23.0 44.0 5.5 6.9 0.8 23.814.6 20.516.8 9.6 -

40 OIL & LUBRICANTS

1 Castrol India
CO

4869.9 8 1 5 .2 1 8 8 6 .0 1 9 5 8 .5 52 6 0 3 15 0 2 6 13
9

8
2 Savita Oil Technologies 360 3696.1 2 2 5 .7 1 4 4 9 .1 1 4 5 6 .6 80 2 0 0 8 1 1 2 1 261
3 Gulf Oil Lubricants India 408 3085.0 2 3 2 .3 1 1 7 8 .4 1 5 5 7 .2 55 4 0 12 16 1 1 3 4 240

CO
4 Tide Water Oil Co (I) 602 1877.9 1 1 4 .5 7 6 3 .6 8 1 8 .7 66 6 0 3 16 0 1 2 4
5 GOCL Corporation 701 1415.5 2 1 1 .2 1 4 0 9 .5 3 2 7 1 .1 52 4 1 0 10 8 1 8 4 975
6 GP Pet roleums 945 773.0 2 5 .2 2 7 6 .2 3 0 9 .2 88 4 0 0 3 0 0 1 - 585
TOTAL - 15717.4 1624.0 6962.8 9371.3 63 4 0 4 13 1 1 4 6 -
SHARE N BS1000 - 0.1 0.2 0.1 0.1 0.2 0.1 0.0 0.8 0.1 0.1 0.0 0.2 0.3 -

32 PACKAGING
1 Uflex 104 14957.2 4 8 0 .7 7 5 0 5 .5 1 3 3 3 1 .8 63 7 4 0 14 3 4 1 0 570
2 Polyplex Corporation 195 7747.5 3 4 8 .4 1 1 9 6 .6 4 3 0 6 .8 58 6 7 - 15 0 4 1 4 433
3 Jindal Poly Films 270 5323.2 3 1 9 .0 4 2 0 7 .5 9 0 4 1 .5 62 3 8 - 13 3 3 3 0 962
4 EPL 359 3767.2 2 2 6 .7 1 9 8 5 .6 2 9 1 1 .7 45 18 3 - 17 2 7 1 4 359
5 Cosmo First 407 3096.1 2 4 4 .0 1 2 9 8 .1 2 3 1 2 .6 66 7 6 - 8 2 2 2 0 523
6 Huht am aki India 420 2984.3 4 9 .6 7 5 7 .0 1 1 8 1 .3 73 8 3 - 10 1 3 0 1 346
7 Hind ust han National Glass & Inds 487 2449.8 - 2 3 3 .3 - 9 9 7 .6 1 2 9 1 .3 40 9 43 - 13 1 4 0 - 934
8 TCPL Packaging 673 1508.0 1 1 1 .1 4 4 0 .0 9 6 6 .5 59 8 2 - 13 3 4 3 1 693
9 Garware Hi Tech Films 686 1463.7 1 6 6 .1 1 8 5 5 .8 2 0 1 0 .4 44 8 9 0 20 1 2 4 2 407
10 Everest Kant o Cylinder 731 1338.0 7 6 .1 9 9 8 .7 1 1 3 7 .9 58 8 5 0 17 1 3 1 1 522
11 Bilcare 739 1294.5 1 5 .1 3 3 .0 1 1 7 3 .0 55 5 3 0 14 5 3 11 - 992
12 Ester Industries 750 1255.2 1 3 6 .9 7 4 3 .4 1 6 0 3 .0 57 4 10 - 11 3 3 1 0 949
13 Inox India 825 1040.9 1 5 2 .7 5 4 9 .5 5 6 4 .5 47 8 1 0 23 0 1 5 11 90
14 Flexituff Ventures Int ernat ional 886 891.8 - 1 1 9 .7 - 5 1 .2 5 9 8 .5 55 20 4 2 22 8 8 -4 - 970
15 Nahar Polyfilms 981 728.0 4 3 .2 7 7 9 .4 9 4 2 .9 73 3 5 - 8 2 4 2 1 647
TOTAL - 49845.4 2016.6 21301.3 43373.6 59 8 7 0 14 2 4 2 1 -
SHARE N BS1000 - 0.4 0.3 0.4 0.4 0.4 0.3 0.5 0.1 0.3 0.4 0.4 0.3 0.2 -

35 PAPER
1 JK Paper 215 6979.9 1 1 9 5 .8 3 9 0 3 .3 7 0 4 0 .1 41 7 10 - 11 3 4 6 2 532
2 Tamil Nadu Newsprint & Papers 261 5582.2 3 8 7 .9 1 9 4 4 .1 3 9 9 1 .5 28 6 20 0 27 3 5 4 1 589
3 West Coast Paper M ills 288 5026.8 9 4 2 .0 2 0 9 6 .9 2 9 5 4 .7 41 7 9 - 8 1 4 8 1 173
4 Em am i Paper M ills 513 2325.4 6 9 .2 4 5 5 .2 1 5 8 8 .5 71 3 7 - 8 3 3 1 0 944
5 And hra Paper 551 2147.9 5 2 2 .5 1 5 8 2 .2 1 6 3 9 .1 38 8 8 - 10 0 3 8 2 222
6 Seshasayee Paper & Boards 562 2108.9 3 9 5 .8 1 6 3 5 .4 1 6 7 3 .9 29 5 13 - 25 0 2 6 2 159
7 Satia Industries 600 1903.2 1 9 2 .2 7 3 3 .2 1 2 3 9 .8 47 5 12 0 14 2 11 0 0 491
8 N R Ag arwal Industries 622 1787.9 9 9 .3 6 3 5 .6 8 1 0 .3 61 4 14 - 10 1 2 3 - 301
9 Kuant um Papers 736 1312.7 1 3 6 .2 9 6 6 .8 1 5 0 8 .6 28 5 16 - 26 5 3 5 2 653
10 Orient Paper & Industries 856 971.9 9 9 .3 1 5 1 5 .5 1 7 9 5 .0 30 8 28 0 14 1 3 5 2 697
11 Shreyans Industries 893 871.8 7 3 .5 3 0 1 .9 3 5 2 .0 49 8 20 - 10 1 2 2 1 281
12 Ruchira Papers 925 802.7 6 7 .6 3 8 0 .5 4 3 1 .4 71 5 3 0 8 1 2 3 2 397
13 Pu d u m jee Paper Products 944 773.6 5 9 .4 3 9 7 .0 5 0 2 .7 49 7 15 1 16 0 1 3 - 561
14 Genus Paper & Boards 958 751.2 - 1 1 .8 4 6 6 .5 7 8 4 .3 74 3 14 0 5 2 4 0 - 938
TOTAL - 33346.1 4228.7 17014.0 26311.8 43 6 13 0 15 2 4 5 1 -
SHARE N BS1000 - 0.3 0.6 0.3 0.3 0.2 0.2 0.6 0.0 0.2 0.2 0.3 0.6 0.1 -

Q C. Busine:
O U M arc
 — ADVERTORIAL YWUT

LINCOLN PHARMACEUTICALS LTD -

EMERGING HEALTHCARE COMPANY WITH
A ROBUST GROWTH OUTLOOK vutsronmlihfedcaYUT
Lincoln Pharmaceuticals Limited, a
prominent player in India's healthcare
sector, has continued to demonstrate
impressive operational and financial
prowess over the years and emerged
as a company to watch out for over
the next few years.
Company aims to maintain healthy
growth in revenue and margins in
the coming years and has set a target
of achieving Rs. 750 crore revenue
by FY26 while maintaining its 'Net Debt
Free' status.
With over 1,700 registered products
and 700 more in development, company
is focused on innovating and expanding
its portfolio. Future plans include bolstering
offerings in lifestyle, chronic, women's
healthcare, and dermatology segments MR. MAHENDRA PATEL,
alongside its existing acute care presence. MANAGING DIRECTOR,
In FY23, it introduced 18 products Lincoln Pharmaceuticals Ltd
domestically and submitted 130+ export
dossiers.
As of December2023, Foreign Institutional Financial Overview - Lincoln Pharmaceuticals FY 13 to FY23
Investors (FIIS) have steadily raised
th e i r h o l d i n g i n th e co m pan y to Year Revenue EBITDA N e t Profit EPS
3.22%. FII holding in the company
FY 23 532,79 11 1.65 72.90 36.40
as on December 2022 was 1.44%.
Company is also ranked among a very FY 13 192,96 18.58 981 6.02
few companies (Top 16 out of 4,200 lOYrs CAGR 10.69% 19.64% 22.21%
plus listed companies in the Indian stock
exchange) to achieve a profit growth Figure in Rs cr except EPS
every single year from FY13 to FY23 the introduction of higher-margin products. for export to multiple countries, expecting
as per the analysis of Morningstar. With our steadfast growth strategies, sales of around Rs. 150 crore in the
During the decade, company has delivered expansion plans for products and markets, next 3 years.
a robust CAGR of over22% in Net profits, and focus on operational efficiency, we Company exports to 60+ countries
19% plus in EBITDA and over 10% are targeting revenue of Rs. 750 spanning East & West Africa, Central
in Revenue. crore in FY26." & Latin A m e r i c a , and S o u t h e a s t
Company reported its Best-ever results Asia. New exports to Canada have
in FY23 with highest - Revenue, EBITDA begun, and with approvals from TGA
and Net Profit. It achieved milestone of (Australia) and EU GMP, the company
Rs. 500 crore plus revenue and Rs. 100 plans to expand its reach to 90+ countries,
crore plus Profit Before Tax (PBT) for strengthening its global footprint.
the first time in a f i n a n c i a l year. Co m pany h as state- o f- th e- art
During nine months of current fiscal manufacturing facility units at Khatraj
FY24, company beat its past growth in Ahmedabad and Mehsana, Gujarat
numbers with Y-o-Y growth of 11.8% in with a stringent international quality and
revenue, 19.6% in EBITDA and 23.8%
in Net Profit. It surpassed PBT of Rs.
LINCOLN
PHARMACEUTICALS LTD.
compliance norms. The company
has crafted 600+ formulations across
100 crores during 9M FY24 which it 15 therapeutic areas, boasting a robust
reported for the full of FY23. HEALTHCARE FOR ALL brand lineup in areas such as anti-
Mr. Mahendra Patel, Managing Director, infective, respiratory, gynaecology,
said, "We anticipate even stronger growth The company has finished expanding cardio & CNS, anti-bacterial, anti-diabetic,
in the future through upcoming product its Cephalosporin plant in Mehsana, and anti-malaria. Additionally, it has
launches in domestic and export markets, Gujarat, and has started commercial filed over 25 patent applications and
improved operational efficiency, and xutsrpnigecSRPFE
production. It aims to register the product received seven patents.
SECTOR PERFORMANCE H1000
Figures in ~ crore As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
31 PETROCHEM ICALS & PLASTICS
1 Suprem e Industries 158 9338.8 8 6 5 .3 4 4 0 2 .1 4 4 8 2 .0 69 4 3 1 9 0 3 3 4 5
2 Suprem e Petrochem 267 5452.8 4 9 8 .1 1 8 4 3 .9 1 8 6 7 .7 81 1 1 0 4 0 1 3 4 6
3 Astral 278 5186.1 4 5 6 .6 2 4 6 2 .3 2 8 0 1 .4 66 6 2 - 10 1 3 3 2 86
4 Finolex Industries 323 4392.7 2 5 0 .7 4 9 0 3 .1 5 5 2 8 .3 66 4 7 2 11 1 2 2 2 352
5 Tim eTechno p last 327 4326.7 2 1 9 .0 2 2 0 8 .8 3 1 6 0 .7 72 5 4 0 6 2 4 2 1 455
6 Nilkamal 399 3175.8 1 3 4 .0 1 3 1 3 .5 1 7 4 3 .8 60 7 3 1 18 1 4 1 1 299
7 Prince Pipes & Fittings 462 2684.8 1 2 1 .4 1 3 6 4 .0 1 4 4 0 .6 77 4 2 2 6 0 3 2 - 133
8 St yrenix Performance M aterials 498 2396.0 1 8 3 .0 7 1 4 .8 7 7 8 .0 74 3 4 - 7 0 2 3 8 49
9 Ag arwal Industrial Corp 569 2067.0 9 2 .3 4 0 3 .7 5 6 2 .5 83 0 2 0 7 1 1 1 0 266
10 Kingfa Science & Techno 708 1403.9 8 1 .4 4 6 6 .0 5 0 9 .6 79 2 2 0 8 0 1 2 - 428
11 Bhansali Engineering Polymers 726 1358.3 1 3 6 .8 1 0 6 8 .0 1 0 6 9 .8 70 3 3 - 9 0 1 4 21 191
12 Safari Industries 732 1328.8 1 2 5 .1 4 2 5 .7 5 6 5 .1 59 6 1 3 15 1 3 3 1 378
13 M anali Petrochemicals 752 1252.9 5 0 .7 1 0 4 4 .4 1 1 3 2 .3 69 4 9 - 9 1 2 2 1 388
14 Caprihans India 804 1094.4 7 1 .8 - 2 8 2 .1 1 1 9 7 .9 61 6 4 0 10 5 3 3 - 995
15 Responsive Industries 811 1075.2 2 4 .0 9 6 8 .3 1 2 6 6 .4 72 2 4 - 10 3 6 0 0 707
16 Apollo Pipes 861 951.7 2 3 .9 4 5 7 .2 5 0 2 .9 76 5 3 1 7 1 3 1 0 401
17 M ayur Uniquoters 921 811.4 1 0 4 .2 7 5 3 .6 7 8 1 .3 59 5 4 - 12 0 3 3 1 317
Plastiblends India 948 769.4 2 6 .9 3 9 4 .9 4 1 5 .4 76 5 3 0 9 0 2 1 1 213
8

19 Prakash Pipes 960 749.2 7 1 .3 2 7 8 .6 2 9 1 .9 70 4 3 0 9 0 2 2 0 232

20 M old- Tek Packaging 977 730.7 8 0 .4 5 5 8 .7 6 1 0 .0 51 6 3 0 21 1 4 3 3 460
21 Kriti Industries (Ind ia) 992 716.0 - 2 3 .0 1 3 0 .1 2 5 4 .8 88 4 3 0 6 2 1 -1 - 637
TOTAL - 51262.5 3593.9 25879.6 30962.5 71 4 3 1 9 1 3 2 3 -
SHARE N BS1000 - 0.4 0.5 0.5 0.3 0.6 0.2 0.2 0.5 0.2 0.1 0.3 0.5 0.4 -

9 PHARM ACEUTICALS
1 Sun Pharm aceut icals Inds 38 45081.0 8 4 7 3 .6 5 2 6 7 5 .3 6 3 8 1 0 .8 25 18 2 - 28 0 6 2 6 215
2 Dr Reddys Laboratories 63 25691.3 4 5 0 7 .3 2 3 2 8 6 .1 2 4 8 5 6 .4 30 18 2 1 21 1 5 6 3 72
3 Auro b ind o Pharm a 64 25555.7 1 9 2 7 .5 2 6 8 2 7 .9 3 2 3 4 0 .3 46 14 3 - 21 1 5 3 2 253
4 Cp la 70 23324.6 2 8 0 1 .9 2 3 1 0 2 .0 2 4 4 7 8 .9 36 16 2 - 23 0 5 5 3 117
5 Zydus Lifesciences 90 17185.9 1 9 6 0 .3 1 5 3 4 3 .3 1 9 0 3 7 .9 35 16 2 6 21 1 4 3 4 178
6 Lupin 96 16638.8 4 3 0 .1 1 2 3 8 6 .2 1 7 7 1 0 .4 40 19 3 - 27 2 5 2 1 348
7 Glenm ark Pharm aceut icals 117 13632.0 2 9 7 .3 9 1 0 8 .6 1 4 4 9 8 .8 36 20 2 1 28 3 4 4 1 578
8 Biocon 129 11704.2 4 6 2 .7 1 3 2 4 4 .1 4 1 0 4 7 .6 33 19 4 - 24 4 10 2 2 776
9 Alkem Laboratories 135 11353.0 9 8 4 .2 8 6 5 5 .6 1 0 9 8 6 .1 39 19 1 7 18 1 3 3 5 185
10 Torrent Pharm aceut icals 156 9499.1 1 2 4 5 .2 6 1 9 8 .1 1 1 9 8 2 .0 27 18 2 - 23 4 7 6 8 448
11 M ankind Pharm a 172 8599.7 1 2 8 1 .9 7 2 4 7 .2 7 7 2 9 .0 30 22 1 4 18 1 4 4 - 68
12 Divis Laboratories 186 8089.1 1 8 2 3 .4 1 2 7 6 7 .1 1 2 8 0 1 .0 38 12 6 0 10 0 4 7 10 83
13 Piram al Pharm a 206 7292.4 - 1 8 6 .5 6 7 7 3 .5 1 2 6 1 1 .8 36 26 3 2 20 5 9 1 - 864
14 Jub ilant Pharm ova 234 6373.0 - 6 1 .0 5 4 0 6 .8 9 4 3 8 .7 30 34 3 1 21 3 9 1 1 631
15 Ipca Laboratories 235 6269.3 4 7 1 .3 5 7 6 8 .7 7 3 7 0 .6 35 21 5 6 17 1 4 4 2 293
16 Laurus Labs 246 6024.5 7 9 0 .1 4 0 2 6 .4 6 3 5 0 .8 46 9 5 - 13 3 5 5 2 454
17 Alem b ic Pharm aceut icals 262 5576.7 3 4 2 .0 4 3 7 0 .5 5 1 9 8 .7 29 21 3 - 35 1 5 0 3 268
Abbott India 266 5467.1 9 4 9 .4 3 1 8 8 .5 3 3 9 5 .2 53 10 0 2 9 0 1 6 13 35
8

19 Granules India 315 4571.1 5 1 6 .6 2 8 3 4 .9 4 0 0 0 .4 51 9 2 1 16 1 4 4 1 329

20 Strides Pharm a Science 344 3938.1 - 2 0 2 .6 2 2 5 1 .6 5 3 2 9 .1 41 19 2 - 32 7 6 -1 0 958
21 Gland Pharm a 347 3912.0 7 8 1 .0 7 9 5 8 .7 7 9 6 4 .9 44 10 3 - 11 0 4 7 - 306
22 Ajant a Pharm a 355 3815.5 5 8 8 .0 3 3 8 8 .0 3 4 5 1 .5 27 21 2 0 28 0 3 4 2 77
23 Syngene Int ernat ional 387 3305.8 4 6 4 .4 3 6 1 8 .0 4 7 5 4 .8 27 25 2 - 15 1 11 4 2 366
24 Glaxosm it hkline Pharm a 389 3296.9 6 1 0 .7 1 7 4 1 .3 2 0 1 2 .3 37 18 1 - 17 0 2 7 16 64
25 J B Chemicals & Pharm a 401 3170.2 4 0 9 .8 2 4 8 0 .4 3 0 7 0 .5 37 17 3 - 21 1 4 5 4 250
26 Sanofi India 419 2984.7 6 2 0 .6 1 2 7 5 .8 1 3 3 4 .9 40 14 0 1 14 0 1 8 44 15
27 Natco Pharm a 431 2835.4 7 1 5 .3 4 8 7 3 .8 5 1 2 7 .5 23 17 3 - 20 1 6 5 4 321
28 Aarti Drugs 454 2720.0 1 6 6 .3 1 1 9 2 .2 1 8 2 1 .0 69 3 6 0 11 1 2 2 0 480
29 Wockhardt 461 2689.0 - 5 5 9 .0 3 0 4 6 .0 5 6 4 2 .0 38 24 4 - 37 11 9 0 - 913
30 Dishm an Carbogen Amcis 479 2554.3 - 2 9 .8 5 8 0 9 .7 8 4 1 8 .7 24 41 3 - 19 3 11 -1 - 936
31 Pfizer 485 2502.3 6 2 3 .9 3 2 0 7 .3 3 3 8 4 .5 33 13 0 2 14 1 4 8 7 383
32 Glenm ark Life Sciences 525 2274.6 4 6 7 .0 2 1 3 8 .2 2 1 5 7 .6 47 8 5 - 11 0 2 7 23 333
33 Vinati Organics 546 2162.2 4 5 8 .0 2 2 1 8 .3 2 2 2 5 .3 50 4 7 - 7 0 2 7 3 109
34 Aarti Pharm alab s 568 2073.0 1 9 3 .5 1 5 5 8 .5 1 7 7 5 .1 55 6 4 0 18 1 3 3 1 406
35 M arksans Pharm a 595 1917.8 2 6 6 .3 1 7 2 5 .3 1 8 7 1 .4 48 12 1 - 17 0 3 4 1 373
36 FDC 612 1848.8 1 9 4 .0 1 9 8 2 .7 2 0 2 8 .5 36 21 2 5 19 0 2 3 - 262
37 ERIS Lifesciences 636 1692.5 3 8 2 .2 2 1 7 1 .3 3 1 3 5 .1 21 20 0 0 26 2 7 2 6 536
38 Indoco Remedies 641 1664.4 1 4 2 .3 1 0 2 8 .3 1 4 0 1 .9 31 19 3 4 25 2 4 3 1 469
39 Nectar Lifescience 650 1608.4 - 2 4 .2 1 0 6 4 .6 1 8 2 5 .7 75 5 8 0 7 5 4 -1 - 885

88 M arch 202 4
 MULTI PURPOSE FACI LI TY
wi th adapt abl e & efficient space utilization ROF

FOR VARI OUS EVENTS

CEN TER y
Strategic location of hybrid exhibition in South Mumbai
Expo & Knowledge Facility
Easy accessibility from Churchgate & CST Stati on
Proximity to New Metro Stati on & Vi ci ni ty to Mantr al aya
Compact offi ce space for short term hire
Fl exi bl e Mul ti Purpose Usage
Bui l t-i n hi -tech Audi o / Video communication devices
Wor k St at i ons on hire TRNEC

Fo r B2 B Me e t i n g s
Co n f e r e n c e s
Pr o d u c t La u n c h e s
Me m o r i al Le c t u r e s
Tr ai n i n g Pr o g r am s
Ar b i t r at i o n s YXWUTSRPONMLIHGEDCBA

INDIA INTERNATIONAL TEXTILE M ACHINERY EXHIBITIONS SOCIETY wutronmlihgecbaWTPNM

1210-1212, Dalamal Tower, 'A' Wing, 12th Floor, Plot no. 211, Nariman Point, Mumbai - 400 021
022 49724603185919 51769170210 899871 contact@itmecenter.in | www.itmecenter.in
EM POWERING TEXTILE
THROUGH TRADE & TECHNOLOGY
SECTOR PERFORMANCE
GE1000
Figures in ~ crore I As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
40 Caplin Point Labs 656 1569.7 3 7 6 .3 1 6 3 7 .1 1 9 0 1 .2 45 9 2 - 13 0 3 5 2 286
41 Solara Active Pharm a 688 1459.3 - 2 2 .2 1 4 9 8 .0 2 5 6 2 .5 54 16 7 - 13 6 8 -2 1 956
42 Seq uent Scientific 705 1408.4 - 1 2 1 .2 6 4 8 .4 1 1 6 4 .2 58 18 3 1 23 3 4 -1 - 933
43 Suven Pharm aceut icals 706 1407.6 4 1 1 .3 1 7 3 5 .2 1 8 1 3 .8 31 8 5 - 12 1 3 11 11 257
44 M orepen Laboratories 707 1407.2 3 8 .7 7 5 3 .4 8 1 1 .3 67 11 2 - 14 0 2 1 - 720
45 TTK Healthcare 719 1373.2 6 3 9 .7 9 4 9 .0 9 8 5 .4 26 9 1 7 7 0 1 1 1 538
46 Unichem Laboratories 723 1364.3 - 2 0 2 .2 2 4 3 5 .3 2 7 9 2 .3 39 26 8 1 30 1 8 2 2 781
47 Ind - Swift Laboratories 751 1253.2 4 7 .6 4 9 8 .5 1 5 6 1 .9 54 11 6 0 10 7 5 3 - 959
48 Procter & Gam b le Health 755 1245.2 2 2 9 .5 7 5 0 .9 8 0 0 .4 29 17 1 6 20 0 2 7 8 105
49 N euland Laboratories 768 1210.5 1 6 3 .5 9 9 3 .3 1 1 3 2 .9 41 17 4 1 15 1 4 4 1 504
50 Astrazeneca Pharm a India 810 1077.9 9 9 .3 5 8 8 .7 6 0 4 .5 38 24 1 - 24 0 2 3 4 92
51 Shilpa M edicare 818 1056.0 - 3 2 .5 1 7 9 2 .2 2 6 2 1 .6 38 27 5 - 18 6 9 -1 - 859
52 Innova Captab 865 935.4 6 8 .0 2 7 6 .5 5 2 4 .4 74 6 1 - 6 2 1 3 - 626
53 Concord Biotech 880 906.1 2 4 0 .1 1 2 9 0 .0 1 3 2 3 .9 22 12 11 - 13 1 6 9 8 327
54 Blue Jet Healthcare 952 759.3 1 6 0 .0 6 8 1 .5 6 9 0 .6 46 6 4 - 12 0 3 7 - 235
55 Orchid Pharm a 964 746.0 4 6 .3 6 8 8 .7 1 0 3 2 .6 54 9 8 0 10 4 7 - - 957
56 Bliss GVS Pharm a 968 742.4 7 0 .9 8 5 0 .4 9 8 8 .6 50 12 1 3 16 1 3 4 1 702
57 Gufic BioSciences 983 726.6 7 9 .7 3 4 7 .8 7 0 0 .3 50 12 2 0 17 1 3 4 0 896
58 Bajaj Healthcare 996 704.7 4 3 .0 3 6 7 .7 7 8 5 .7 61 7 6 0 11 3 4 2 0 967
TOTAL - 332247.3 37620.6 316722.8 423175.4 36 17 3 1 21 1 5 4 4 -
SHARE N BS1000 - 2.8 5.2 6.1 4.0 1.8 5.1 1.2 5.3 3.2 1.5 3.5 4.6 3.5 -

4? PLYWOOD BOARDS / LAM INATES

1 Century Plyboards 362 3646.3 3 8 3 .3 1 9 1 8 .0 2 2 4 8 .9 51 13 3 4 12 0 2 4 1 114
2 Greenlam Industries 574 2047.1 1 2 8 .4 9 6 8 .3 1 6 0 7 .7 53 15 4 5 11 3 2 1 541
3 Greenply Industries 597 1911.4 9 1 .4 6 4 3 .8 1 3 4 7 .2 61 13 1 3 13 2 1 0 736
4 Greenp anel Industries 616 1818.6 2 5 6 .5 1 1 9 3 .9 1 4 3 9 .1 41 8 11 1 15 4 5 1 260
5 St ylam Industries 853 976.7 9 6 .0 4 1 2 .1 4 6 6 .5 57 7 5 - 15 2 3 - 270
6 Rushil Decor 899 857.4 7 7 .7 3 4 5 .7 7 7 7 .2 51 5 8 0 18 3 3 0 871
TOTAL - 11257.6 1033.3 5481.9 7886.6 52 11 5 3 13 3 3 1 -
SHARE N BS1000 - 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.5 0.1 0.0 0.1 0.1 0.0 -

5 POWER
1 NTPC 11 178905.7 1 6 9 1 2 .6 1 4 3 0 9 2 .7 3 7 7 0 0 4 .4 - 4 62 2 4 6 8 4 4 654
2 Tata Power Company 30 61079.8 3 3 3 6 .4 2 3 3 7 0 .7 9 5 6 2 4 .0 - 6 60 0 12 7 6 3 1 757
3 Power Grid Corp of India 37 47857.5 1 5 4 1 7 .1 8 3 0 1 4 .5 2 1 4 0 1 8 .6 - 6 1 0 9 20 28 5 21 670
4 Ad ani Power 42 43040.5 1 0 7 2 6 .6 2 9 6 2 9 .1 7 6 6 3 5 .3 - 1 59 - 6 8 8 -7 - 689
5 Torrent Po wer 62 26136.4 2 1 1 7 .4 1 0 5 3 3 .4 2 3 1 3 4 .5 - 3 67 - 10 3 5 3 5 470
6 Reliance Infrastructure 66 24852.4 - 3 2 2 1 .2 4 6 3 4 .1 2 8 8 5 3 .0 - 4 57 - 33 10 6 0 - 827
7 NLC India 86 17368.7 1 3 9 5 .7 1 2 7 1 2 .0 4 3 7 9 7 .4 - 15 14 0 43 6 10 4 3 768
8 CESC 98 15817.7 1 3 4 2 .8 1 0 4 3 1 .6 3 0 0 7 0 .7 - 8 58 - 10 8 6 2 4 769
9 Ad ani Energy Solut ions 106 14876.0 1 2 5 6 .3 1 0 5 6 4 .9 4 7 1 6 4 .8 - 7 35 - 17 19 11 3 - 818
10 NHPC 134 11386.1 3 8 9 0 .0 3 2 0 8 4 .2 7 3 7 5 6 .8 - 16 9 0 14 5 11 9 16 701
11 JSW Energy 141 11006.3 1 4 7 7 .8 1 8 5 2 3 .4 4 4 1 7 4 .0 - 3 51 - 10 8 11 4 3 778
12 Reliance Power 165 8919.6 - 4 7 0 .8 9 9 0 3 .6 3 5 2 3 0 .9 - 2 26 - 36 28 12 1 - 904
13 Ad ani Green Energy 169 8692.0 9 7 4 .0 7 2 5 8 .0 6 3 2 3 7 .0 - 0 0 - 35 33 15 5 - 806
14 Jaiprakash Power Ventures 251 5887.0 5 5 .4 1 0 4 4 5 .5 1 5 4 8 8 .4 - 2 53 - 24 10 8 3 - 842
15 Rat t anIndia Enterprises 280 5160.1 - 2 8 4 .6 4 0 2 .2 1 3 9 3 .8 - 1 2 1 100 1 0 0 - 615
16 Rat t anind ia Power 367 3559.4 - 1 8 6 9 . 9 - 4 5 3 2 .9 7 3 7 1 .6 - 2 62 - 6 71 11 1 - 960
17 SJVN 390 3294.1 1 3 5 9 .3 1 3 8 5 9 .5 2 8 8 0 4 .7 0 9 0 0 12 14 12 11 21 799
Gujarat Industries Power Co 709 1403.7 1 8 8 .7 3 1 5 4 .3 3 9 7 2 .3 - 7 49 - 11 3 12 5 4 610
8

19 KKVAgro Powers 762 1230.9 1.2 2 0 .7 3 5 .2 - 0 0 0 99 0 0 0 0 558

20 In o xW i n d Energy 922 811.3 - 3 5 8 .1 - 2 4 3 .0 3 5 1 0 .0 - 11 64 0 56 42 13 -3 - 993
21 BF Utilities 941 775.9 1 2 4 .4 - 5 1 3 .5 1 5 3 2 .9 - 8 0 0 26 24 7 2 - 965
22 India Power Corporation 990 718.4 1 5 .8 1 0 0 5 .8 1 4 4 9 .5 - 7 5 - 76 5 4 1 1 850
TOTAL - 492779.4 54387.2 419351.0 1216259.8 0 5 48 1 13 10 10 3 5 -
SHARE N BS1000 - 4.1 7.5 8.1 11.6 0.0 2.2 34.9 3.9 2.815.7 10.1 4.9 6.5 -

44 PRINTING & STATIONERY

1 Doms Industries 764 1222.0 9 5 .8 3 1 9 .5 4 8 6 .4 63 12 3 0 6 1 3 3 - 295
2 Flair Writ ing Industries 859 959.8 1 1 8 .2 4 3 4 .7 5 6 5 .2 54 12 2 1 11 1 3 4 - 357
3 Kokuyo Camlin 928 794.9 2 4 .5 2 6 2 .6 3 2 4 .6 64 11 1 2 15 1 2 1 1 586
TOTAL - 2976.8 238.5 1016.8 1376.2 60 12 2 1 10 1 3 3 0 -
SHARE N BS1000 - 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 -

O H BDsb e
y \ J M arc

HILTON METAL FORGING LTD EYEING BIG
BUSINESS FOR RAILWAY FORGED WAGON WHEEL
Hilton Metal Forging Ltd - prominent
manufacturer and distributor in the steel
forging industry, specializing in products
such as for railway forged wagon wheel,
flanges, fittings, and oilfield and marine
products is eying big business for Railway
Forged Wagon Wheel. Company has
installed capacity to manufacture 48,000
Wheels annually and aims to meet
the increasing demand in the replacement
market. Company is also looking forward
to bigger Railway Forged Wagon Wheel
Orders in the near future through tender
route.
Established in the year 2005, Hilton Metal
Forging Ltd stands as a prominent
manufacturer and distributor in the steel
forging industry, specializing in products
such as flanges, fittings, and oilfield and
marine products. The company has
successfully expanded its portfolio by
manufacturing turbine blades, and making
inroads into the railway industry with the
production of forged wheels. Company
has complete in-house facility of Forging,
Machining, Heat Treatment and Lab
Testing under one roof at it's manufacturing
facility spread across 5 acres at Wada,
Maharashtra
Company has reported exceptional
operational and financial performance
for Q3 FY24 and 9MFY24. Net profit
of the company for Nine months ended
December 2023 rise 82% to Rs. 6.14
crore as compared to net profit of Rs.
3.37 crore reported in the corresponding
period last year. Total income of the
company also registered growth of 41 %
to Rs. 105.34 crore in 9M FY24 as
compared to total income of Rs. 74.48
crore reported in same period last year.
Company initiated development of
technically specialized product - Railway
F o r g e d W a g o n wh eel bu si n ess i n
early 2022. In the last 18 months the
c o m p a n y h as su ppl i ed m o r e th an
2000 Railway Forged Wagon Wheels
and Rail Gear Blanks. Company supplies
Railway Forged Wagon Wheel for the
replacement market across various Indian
Railway Workshops in India.
With the demonstrated quality and delivery,
Railway Forged Wagon Wheel has been
approved by the Third Party Inspection
agency- RITES Ltd. Hilton Metal Forgings
Limited with proven successful track
record makes it a strong bidder for
the Global Wheel Tender floated by Indian
MR. YUVRAJ MALHOTRA, Hilton Metal Forging
Railways. Company is also looking forward
to bigger Railway Forged Wagon Wheel
Orders in the nearfuture through tender
route.
The Board of Directors proudly announced
that the company has successfully
developed and supplied railway wheels
to the Indian Railways, achieving the
distinction of being the first Indian MSME
company to produce Indigenous Forged
Railway Wheels. The company is now
eligible to participate in Global tenders.
In a significant development, Jupiter
Wagons has placed an order for 250
Forged Wagon Wheel sets with Hilton
Metal Forging Ltd as a trial order.
Following the successful supply of
the initial 250 sets, Jupiter Wagons
has issued a Letter of Intent (LOI) for
procuring 6000 Forged Wagon Wheel
sets annually, highlighting the
company's growing recognition and
potential in the market. Additionally,
Hilton Metal Forging Ltd identifies
other Wagon Manufacturing OEMs
as p o t e n ti al cl i en ts for F o r g e d
W a g o n Wh eel s e t s , i n di cati n g th e
company's expanding market reach
and promising future in the railway
industry. ywutslihgedaRHB
— ADVERTORIAL tronlig
zyxwvutsr
Railway Budge t
2 0 2 4 — Highlights
• The Indian Railways is set to receive
a capex push of Rs. 2.52 lakh crore for
the financial year 2024-25, an increase
of 5 percent from Rs 2.4 lakh crore
allocated a year ago. The funds will
be spent on building railway tracks,
wagons, trains, electrification, signalling,
and developing facilities at stations
while focusing on safety.
• Finance Minister Nirmala Sitharaman
announced three new corridors for
the railways— Energy, Mineral and
Cement corridor, Port Connectivity
Corridor and a High Traffic Density
Corridor. These corridors were identified
under the scheme to enable multi-
modal connectivity. These corridors
will reduce costs and improve efficiency,
according to the finance minister.
• Additionally, the Finance Minister also
announced that 40,000 bogies would
be converted to Vande Bharat standard
to improve safety and convenience for
passengers.
• The railway ministry is targeting
100 percent electrification of its network
by July 2024 and laying of at least
2,000 km of new tracks, as well as
rolling out the new Vande Bharat trains.
SECTOR PERFORMANCE
US 1 0 0 0
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank

20 REALTY
1 Prestige Estates Projects 137 11327.9 9 4 1 .8 9 6 9 2 .1 1 9 5 8 0 .3 - 5 1 1 68 7 6 3 1 712
2 Dilip Build con 139 11162.1 0 .9 4 0 0 4 .8 1 1 2 0 9 .8 40 2 14 0 32 8 4 1 0 723
3 G R Infraprojects 154 9570.0 1 4 5 4 .4 6 2 6 5 .1 1 1 9 8 4 .3 2 7 - - 63 5 3 5 - 764
4 NBCC (Ind ia) 168 8856.8 2 6 6 .7 1 7 6 4 .6 2 3 8 6 .7 0 4 0 0 92 0 0 1 1 195
5 Godrej Properties 180 8250.9 5 7 1 .4 9 2 4 1 .3 1 5 7 1 6 .1 - 3 - 3 83 2 0 2 - 876
6 Oberoi Realty 190 8020.6 1 9 0 4 .6 1 2 2 1 0 .1 1 6 4 0 1 .1 - 2 0 0 67 2 0 4 2 683
7 DLF 247 6012.1 2 0 3 5 .8 3 7 6 8 3 .2 4 2 2 2 7 .6 - 9 0 - 57 7 2 7 16 611
8 Brigade Enterprises 306 4715.0 2 9 1 .4 3 3 3 8 .0 8 0 7 5 .0 25 6 1 - 47 9 1 1 789
9 Sobha 317 4503.8 1 0 4 .2 2 4 9 4 .7 4 5 4 4 .4 8 7 2 1 73 6 1 1 609
10 J Kum ar Infraprojects 331 4233.6 2 7 4 .4 2 3 3 9 .7 2 9 6 6 .1 66 7 1 - 11 2 2 1 509
11 Pho enix M ills 357 3803.1 1 3 3 5 .0 5 6 8 3 .4 1 2 9 7 6 .1 - 6 3 3 29 9 5 2 741
12 Ah lu w alia Contracts 427 2867.9 1 9 4 .0 1 2 2 8 .3 1 3 8 2 .9 47 7 2 0 32 1 2 0 99
13 Puravankara 488 2443.4 6 6 .5 1 9 8 0 .1 4 9 4 3 .5 28 7 - 4 44 15 0 1 961
14 Capacite Infraprojects 620 1808.6 9 5 .3 1 0 7 3 .4 1 6 2 1 .0 37 7 1 0 35 5 2 - 786
15 Sunt eck Realty 626 1743.6 1 .4 2 7 8 7 .9 3 4 8 7 .4 - 4 0 2 88 5 0 1 694
16 Signat ureGlobal India 653 1585.9 - 6 3 .9 4 4 .9 1 7 8 7 .5 0 7 0 2 88 5 0 - 951
17 Kolte Patil Developers 670 1521.0 1 0 2 .5 1 0 3 7 .8 1 7 1 2 .2 72 8 0 - 5 3 4 2 734
18 Keystone Realtors 823 1043.4 8 2 .0 1 6 5 2 .1 2 8 9 2 .8 12 9 0 2 62 3 3 - 841
19 An an t Raj 842 1004.9 1 5 1 .1 2 7 9 1 .9 4 1 1 3 .3 - 2 0 1 73 3 5 2 906
20 SPML Infra 876 910.7 0 .4 3 1 8 .2 2 2 8 8 .9 7 3 0 0 84 6 0 - 997
21 M ahind ra Lifespace 905 845.5 1 0 1 .4 1 8 0 5 .6 2 0 8 0 .3 - 12 0 4 68 1 0 4 915
22 Hazoor M ulti Projects 943 775.2 4 5 .6 8 1 .3 1 0 3 .3 - 0 - 0 92 0 0 2 0 639
23 M arat hon Nextgen Realty 979 729.8 1 2 1 .0 7 7 7 .1 1 7 3 2 .0 - 2 - 1 59 17 0 6 1 894
24 Ashiana Housing 997 704.6 2 7 .9 7 5 9 .7 9 9 8 .0 19 6 0 - 68 0 1 1 1 826
TOTAL - 98440.3 10105.7 111055.4 177210.5 13 5 2 1 59 5 3 3 2 -
SHARE N BS1000 - 0.8 1.4 2.1 1.7 0.2 0.4 0.3 1.0 2.6 1.6 0.5 1.0 0.5 -

19 RETAIL
1 Avenue Sup erm art s 39 43469.7 2 3 7 8 .5 1 6 0 7 8 .6 1 6 7 2 8 .6 85 2 1 - 4 0 1 2 - 40
2 Aditya Birla Fashion 115 13781.9 - 3 6 .0 3 3 4 0 .6 1 1 4 1 8 .4 49 11 1 5 21 4 9 0 - 759
3 Trent 161 9077.7 4 4 4 .7 2 5 2 8 .0 7 1 3 6 .0 57 7 2 - 18 5 5 2 1 627
4 Electronics M art India 260 5616.5 1 2 2 .8 1 1 8 4 .3 2 6 1 7 .8 87 2 1 1 4 2 2 1 - 655
5 M edplus Health Services 300 4824.8 4 9 .8 1 4 9 1 .9 2 4 1 9 .6 78 11 1 0 3 2 4 0 - 588
6 Shoppers Stop 314 4574.9 1 1 6 .0 2 0 6 .1 2 5 8 0 .8 62 8 2 1 10 5 8 1 - 629
7 V- M art Retail 463 2682.2 - 7 .9 8 4 9 .0 2 1 9 3 .2 67 10 3 3 6 4 7 0 - 823
8 Spencers Retail 483 2517.8 - 2 1 0 .4 - 1 5 0 .5 1 2 0 7 .5 78 8 2 2 9 5 5 0 - 923
9 M etro Brand s 507 2355.3 3 6 1 .5 1 5 2 1 .3 2 4 9 5 .2 44 8 1 2 14 3 8 5 5 554
10 Arvind Fashions 541 2181.9 3 6 .7 7 2 7 .1 2 3 1 2 .3 53 6 0 3 27 3 5 1 0 889
11 Redt ape 627 1732.9 1 4 2 .2 4 7 6 .8 8 4 2 .8 60 3 1 3 19 1 3 3 - 307
12 Sai Silks (Kalam and ir) 654 1571.9 9 7 .6 3 9 7 .3 9 3 0 .6 66 8 1 2 8 3 3 2 - 713
13 Vedant Fashions 695 1434.0 4 2 9 .1 1 3 9 9 .9 1 8 4 7 .2 26 4 0 5 16 2 7 10 15 381
14 Ethos 885 893.5 6 0 .3 6 3 1 .5 7 5 4 .6 71 6 0 3 5 2 4 2 - 844
15 V2 Retail 914 827.4 - 1 2 .8 2 4 6 .9 6 7 5 .3 65 11 3 1 9 5 8 0 - 941
16 Osia Hyper Retail 942 775.2 9 .5 1 1 2 .9 3 4 7 .9 77 5 1 0 11 3 1 0 - 910
17 Eastern Logica Info way 995 706.0 3.5 5 3 .2 1 1 7 .7 95 1 0 0 3 1 0 0 - 887
TOTAL - 99023.5 3985.0 31094.8 56625.4 71 5 1 1 10 2 4 1 0 -
SHARE N BS1000 - 0.8 0.5 0.6 0.5 1.1 0.5 0.2 1.8 0.4 0.7 0.8 0.5 0.1 -

38 SHIPPIN G
1 M azagon Dodc Ship b uild ers 174 8514.0 1 1 1 9 .0 4 7 6 0 .2 5 3 2 9 .1 52 9 0 - 21 0 1 4 4 26
2 Great Eastern Ship p ing Co 239 6171.1 2 5 7 5 .0 1 0 2 7 5 .4 1 4 2 2 9 .9 - 12 10 - 19 6 12 0 7 431
3 Ship p ing Corporation of India 248 5977.9 8 7 0 .2 6 9 0 2 .3 9 5 7 5 .6 - 8 23 0 40 3 13 -1 0 513
4 Essar Ship p ing 610 1859.0 1 6 5 0 .2 - 2 8 6 0 .5 - 3 8 .2 - 0 0 - 3 7 2 -1 - 748
5 Dredging Corporation of India 778 1168.0 1 2 .6 1 4 2 2 .6 1 7 3 0 .4 - 8 40 - 36 2 12 0 - 617
TOTAL - 23690.1 6227.0 20499.9 30826.8 19 9 10 0 25 3 7 1 3 -
SHARE N BS1000 - 0.2 0.9 0.4 0.3 0.1 0.2 0.4 0.0 0.3 0.2 0.4 0.1 0.2 -

21 SUGAR
1 EID Parry India 47 36431.2 9 4 7 .5 2 6 3 0 .7 7 7 5 2 .3 79 2 1 - 8 1 1 2 0 409
2 Shree Renuka Sugars 159 9223.8 - 1 9 7 .0 - 1 9 7 1 .7 4 7 5 5 .0 78 2 3 0 10 6 3 0 - 604
3 Triveni Engineering an d Inds 211 7026.1 1 7 9 1 .8 2 6 6 5 .3 3 6 5 0 .6 57 5 0 - 8 1 1 2 1 203
4 Bajaj Hind ust han Sugar 236 6255.8 - 1 3 4 .7 4 4 1 4 .0 8 8 4 7 .7 81 6 0 - 8 3 3 0 - 857
5 Balram p ur Chini M ills 303 4750.4 2 8 4 .2 2 8 9 5 .6 4 7 8 6 .0 72 8 0 - 8 1 3 3 1 493

Business Standard
M arch 2 02 4

DENTING THE DOMINATING PAINT
INDUSTRY: KAMDHENU VENTURES
LIMITED EYES RS. 1000 CRORE
REVENUE BY FY28
Kamdhenu Paints boasts a nationwide presence, with an in-house production
capacity of 36,000 KLPA and outsourced capacity reaching 50,000 KLPA zyxwvutsrponm
THE Oligopolistic Paint Industry in India
has d o m i n a t e d the s p a c e s i n c e
Independence.Three four Entrenched
players have been ruling the Organised
side throughout the years. But the tables
have turned from last few years with
major business conglomerate venturing
into this astonishing and ever-growing
sector. Anticipating the potential of
India's growing economy, Delhi-based
Kamdhenu Group, known for its prominence
in steel and TMT bars, diversified in
2008. Establishing a dedicated paint
manufacturing facility, the vision was
to emerge as a leading paint company.
Presently, Kamdhenu Paints boasts
a nationwide presence, with an in-
house production capacity of 36,000
KLPA and outsourced capacity reaching
50,000 KLPA.
With a focus on quality and innovation,
the company ensures customer satisfaction
with every product. Through modern
automation processes and advanced
research & development, Kamdhenu
Paints emphasizes premiumization,
delivering products that meet the highest
quality standards.With a robust presence
of 4,000 dealers and distributors across
the country, Kamdhenu Paints has
firmly established itself in the market.
The product range of Kamdhenu Paints
offers a wide range of premium decorative
paint products, Acrylic Distempers,
Water Based & Solvent Primers, Synthetic
& GP Enamel, Wood Finishes, Aluminium
Paints, and Textured to Designer Finishes
catering to both interior and exterior
needs.
The company initially prioritized affordable
variants to build trust with dealers and
painters. Now, having solidified relationships,
it strategically shifted towards premium
offerings, achieving a 43% share in the
premium product segment.
In Q3 FY24, the company posted robust
results with a 14% revenue increase
ywutsrponmihgfedcbaPLKA
SUNIL KUMAR AGARWAL,
Chairman, Kamdhenu Ventures Ltd.
to Rs. 79.1 crore, EBITDA at Rs. 6.2
crore, and a net profit of Rs. 4.1
crore, reversing last year's net loss. For
9 months ending Dec 2023, it achieved
a 9% revenue rise to Rs. 206.6 crore,
EBITDA of Rs. 15.1 crore, and a net
profit of Rs. 9.7 crore. A v e r a g e
Selling Price per KG/Ltr for 9M FY24
stood at Rs. 89, which has been a
significant increase compared to
past year. lUTSPNMKIHGFEDA
G F l K A M D H E N U
^ ^ ^ PAINTS
Th e company gets listed on both
the bourse NSE and BSE in 2021
as a demerged entity following the
scheme of arrangement with its group
company Kamdhenu Limited. Since
then, the company has maintained
exceptional track record when it comes
to creating value for shareholders.
Company in its short-Listing history
has rewarded its shareholders by
— ADVERTORIAL YVUTS
As one of the founding
members of Kamdhenu
Ventures Limited, Sunil Kumar
Agarwal proudly said that, "In
recent years, we've transformed
from just another company to
one of the best. Our steady
growth journey highlights our
exceptional achievements, in
FY-2021, our revenue reached
around Rs. 200 crore leading us
to the strong market leadership
position we hold today. Explore
our franchisee business model
and revolutionary Stockyard
Model for decentralized stock
management. Our vision is to
lead the paint industry by FY28
reaching around Rs. 1,000 crore
in revenue by adhering to global
best practices and our founding
philosophy."
the way of bonus shares in ratio of 1:1.
The share have garnered decent
180.64% returns over the period of last
one year.
The company's strategic emphasis on
product premiumization has yielded
positive results, evident in its positive
EBITDA of Rs. 15 crores, a stark
improvement from the previous year's
negative figure. Substantial investments
in brand image, celebrity endorsements,
and dealer commissions underscore
its commitment to expanding market
share. Focused on enhancing product
portfolio premiumization and capitalizing
on growing demand, the company
anticipates sustained growth and
profitability, presenting attractive
prospects for investors through innovation
and customer-centric strategies.
SECTOR PERFORMANCE
[11000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
6 Dalmia Bharat Sugar & Inds 406 3100.6 2 5 0 .1 2 7 0 5 .0 3 2 0 0 .6 68 6 1 0 9 1 4 3 1 339
7 Avad h Sugar & Energy 458 2707.7 1 0 0 .2 8 9 1 .2 1 9 6 2 .4 77 4 0 - 8 3 2 2 1 633
8 Bannari A m m an Sugars 484 2515.0 1 4 3 .4 1 5 5 1 .9 2 1 4 7 .1 67 6 4 0 10 2 3 3 1 410
9 DCM Shriram Industries 509 2335.2 6 0 .2 7 1 6 .7 1 2 9 1 .8 66 8 5 - 14 1 2 1 0 515
10 Dham p ur Sugar M ills 516 2306.3 1 5 7 .5 1 0 4 2 .1 1 8 0 2 .5 74 4 0 - 8 2 2 3 2 545
11 Dham p ur Bio Organics 540 2184.0 1 1 1 .1 9 8 8 .7 1 8 2 0 .5 73 5 0 - 12 2 2 1 1 618
12 Uttam Sugar M ills 558 2120.6 1 2 3 .6 5 7 6 .4 1 2 1 2 .7 75 5 0 - 8 2 2 2 0 661
13 Dwarikesh Sugar Industries 596 1917.3 1 0 4 .8 7 3 9 .8 1 1 3 9 .2 73 6 0 - 9 1 3 2 2 440
14 Rana Sugars 629 1719.0 6 3 .4 4 8 4 .3 9 1 4 .2 73 4 6 0 10 1 2 1 - 935
15 Sakt hi Sugars 667 1527.7 4 1 7 .8 - 1 0 .8 8 5 9 .3 43 3 1 - 16 7 2 0 - 903
16 M aw an a Sugars 683 1475.8 1 3 .1 3 8 4 .3 7 7 7 .4 81 5 0 - 8 2 2 0 1 719
17 Ugar Sugar Worses 710 1398.0 1 0 3 .1 2 2 0 .8 6 2 4 .7 68 8 1 0 8 3 1 3 0 563
Sim b hao li Sugars 760 1235.6 - 3 0 .9 - 2 2 2 .9 9 1 6 .3 78 7 2 - 11 2 3 0 - 990
8

19 M agadh Sugar & Energy 834 1019.7 5 0 .3 6 3 9 .4 1 2 2 5 .1 72 6 1 - 8 3 2 3 1 847

20 RajshreeSug ars & Chemicals 963 747.4 - 9 .0 2 5 1 .4 6 5 2 .4 72 5 3 - 12 2 3 4 - 973
TOTAL - 91997.2 4350.5 21592.0 50337.5 74 4 1 0 9 2 2 2 1 -
SHARE N BS1000 - 0.8 0.6 0.4 0.5 1.0 0.3 0.2 0.0 0.4 0.6 0.4 0.6 0.1 -

3 TECHNOLOGY-SOFTWARE
1 Tata Consultancy Services 8 228907.0 4 2 1 4 7 .0 8 9 6 0 1 .0 1 0 0 0 0 4 .0 0 56 - - 17 0 2 6 18 2
2 Infosys 15 149468.0 2 4 0 9 5 .0 6 5 0 0 5 .0 8 6 2 6 4 .0 - 52 0 1 22 0 3 6 9 33
3 HCL Technologies 23 102881.0 1 4 8 5 1 .0 6 5 4 1 2 .0 7 2 8 4 5 .0 2 54 0 - 21 0 4 5 13 25
4 Wipro 24 92738.3 1 1 3 5 0 .0 7 7 6 0 9 .0 9 8 5 2 8 .3 1 58 - 0 20 4 4 1 202
5 Tech M ahind ra 34 54255.2 4 8 3 1 .3 2 7 4 5 4 .3 3 3 8 5 7 .1 - 51 0 0 32 4 3 9 67
6 LTIM indtree 53 33739.9 4 4 0 8 .3 1 6 5 8 5 .0 1 8 3 4 5 .7 - 62 0 0 18 2 4 5 19
7 Quess Corp 88 17238.3 2 2 4 .4 2 4 0 6 .7 3 8 5 4 .4 3 85 0 - 8 2 0 1 345
8 M phasis 113 13960.1 1 6 3 7 .9 7 9 3 4 .8 8 9 0 7 .1 - 58 0 - 23 2 4 7 48
9 Persistent Systems 176 8421.2 9 2 1 .1 3 9 6 5 .1 4 9 5 1 .4 - 59 0 0 22 3 4 5 82
10 L& TTechnology Services 182 8221.6 1 1 6 9 .8 4 9 3 2 .9 5 4 2 6 .8 - 56 0 0 20 3 6 6 100
11 Coforge 187 8076.5 6 9 3 .8 2 9 9 5 .1 3 8 4 3 .8 1 60 0 0 23 3 3 5 71
12 Sonat a Soft ware 199 7545.8 4 5 1 .9 1 3 0 0 .7 2 3 4 0 .8 73 12 0 - 6 1 2 3 163
13 RPSG Ventures 204 7331.9 - 1 5 2 .7 8 0 4 .5 9 3 9 0 .4 4 55 1 4 23 4 2 - 911
14 Firstsource Solut ions 241 6153.2 5 1 3 .7 3 3 6 6 .5 4 7 9 1 .8 - 63 1 - 21 4 2 4 362
15 Cyient 244 6084.8 5 1 4 .4 3 4 6 9 .9 4 9 7 3 .1 11 50 0 0 21 4 3 5 338
16 Oracle Financial Services 250 5890.2 1 8 0 6 .1 7 4 5 8 .9 7 9 9 5 .8 - 47 0 - 7 1 13 33 177
17 Hind uja Global Solut ions 286 5090.1 3 3 2 .1 8 3 9 0 .7 9 6 9 9 .1 1 54 1 1 27 9 -2 2 600
Zensar Technologies 292 4951.0 3 2 7 .6 2 9 7 6 .2 3 3 4 5 .4 3 63 0 0 21 4 2 2 93
8

19 Birlasoft 301 4817.6 3 3 1 .6 2 4 4 8 .3 2 5 9 8 .9 - 58 0 0 30 2 2 2 37

20 Tata Technologies 318 4501.9 6 2 4 .0 2 9 8 9 .5 3 2 6 8 .7 15 43 0 - 22 2 4 11 113
21 Route M obile 364 3608.6 3 2 7 .1 1 8 1 2 .5 2 1 0 7 .2 77 5 0 - 4 2 1 2 423
22 KPITTechnologies 376 3433.1 3 8 1 .0 1 6 3 9 .8 2 2 6 0 .6 2 63 0 0 15 4 3 3 219
23 Tanla Platforms 381 3380.8 4 4 7 .7 1 5 1 7 .5 1 6 0 3 .3 - 4 0 0 77 1 4 4 58
24 Tata Elxsi 398 3218.4 7 5 5 .2 2 0 8 5 .8 2 3 1 5 .8 6 50 0 1 11 3 6 12 115
25 PB Fintech 435 2816.8 - 4 8 7 .2 5 4 6 7 .8 5 7 2 7 .5 - 55 0 48 11 2 0 - 814
26 eClerxServices 456 2713.9 4 8 8 .8 1 7 1 3 .2 1 9 6 4 .7 - 56 0 0 15 4 6 0 142
27 M astek 468 2644.5 2 9 3 .0 1 5 9 2 .3 2 3 9 6 .5 - 52 0 0 28 3 4 2 573
28 Intellect Design Arena 523 2284.1 2 6 7 .2 2 0 4 6 .8 2 0 8 7 .7 - 50 0 - 28 0 5 4 1 304
29 Infibeam Avenues 581 2033.1 1 3 9 .6 3 1 6 4 .5 3 1 9 4 .6 - 5 0 0 83 0 3 2 1 681
30 CMS Info Systems 594 1926.5 2 9 7 .2 1 5 6 2 .5 1 7 3 7 .0 6 14 1 - 51 1 7 5 4 234
31 Cigniti Technologies 642 1662.3 1 6 8 .3 5 8 9 .4 6 7 2 .3 - 58 0 2 24 0 2 3 1 243
32 BLS Int ernat ional Services 664 1537.4 2 0 0 .8 7 6 8 .6 8 1 3 .0 - 9 0 - 75 0 1 1 2 65
33 R Systems Int ernat ional 668 1526.1 1 3 9 .7 5 4 5 .5 6 4 4 .3 - 67 0 - 19 0 2 2 5 143
34 Datamatics Global Services 676 1497.9 1 8 9 .0 1 0 5 5 .1 1 1 1 0 .9 0 60 1 - 20 0 2 4 2 244
35 Affle India 678 1488.3 2 4 4 .6 1 4 6 2 .9 1 6 5 1 .5 - 13 0 - 64 1 3 2 - 457
36 Happiest M inds Techno 692 1450.4 2 3 1 .0 8 3 8 .8 1 4 1 7 .2 - 56 0 0 18 2 3 5 5 643
37 NIIT LearningSyst em s 717 1377.7 1 9 2 .2 7 7 0 .3 1 1 0 3 .0 0 50 0 2 26 1 3 3 - 382
38 Trigyn Technologies 741 1286.5 3 4 .7 6 8 1 .0 6 9 5 .0 3 63 0 - 28 0 1 2 - 650
39 Nazara Technologies 781 1158.8 3 9 .4 8 9 3 .2 1 1 4 8 .3 6 13 - 21 47 1 5 2 - 811
40 Newgen Soft ware Technologies 839 1008.0 1 7 6 .3 9 7 6 .8 1 0 5 4 .5 - 51 0 1 23 0 2 4 3 360
41 Kellton Tech Solutions 872 919.6 - 1 2 6 .8 3 7 3 .0 5 4 0 .1 - 50 - 0 59 1 2 1 - 673
42 Expleo Solutions 873 919.4 1 3 3 .9 5 3 0 .2 5 6 5 .9 - 52 0 1 23 0 3 6 1 334
43 3i Infotech 911 832.1 1 .4 5 3 9 .8 7 6 2 .1 - 67 0 - 28 1 3 0 - 858
44 AXISCADES Technologies 913 827.6 - 5 .2 3 3 2 .3 6 9 3 .9 22 44 0 1 23 4 3 3 - 852

Q / i Bu si n e
7 1 M arc
 BU I LD ERS O F 1 0 0 + W A RSH I PS
tt Wm1§F3if w a s u z f m f f i t e
Garden Reach Shipbuilders & Engineers Ltd.
(A Govt, of India Undertaking) INFINITE PASSION
MEETS UNWAVERING COMMITMENT YWVUTS
61, Garden Reach Road, Kolkata-700 024
Tel: +91-33-2469 8105, Fax: +91-33-2469 8150

D ELI V ER ED 10 9 W A R S H I P S TO A R M ED FOR C ES OF I N D I A

& FR I EN D LY FOR EI GN C OU N T R I ES WVUTSRPONLIHGEDBA

WE SERVE THE NATION | WE B U I L D W A R S H I P S | WE B U I L D BRIDGES yxwvutsrponmlkihgfedcbaWVU

Frigates | ASW Corvettes | Missile Corvettes | Landing Ship Tanks (Large) | Survey Vessels |
WARSHIPS
Landing Craft Utility Ships | Offshore Patrol Vessels | ASWSWCs | FAC | NGOPV

Pre-Fabricated Steel Bridges | Railless Helo Traversing S y s t e m | Deck Machinery Items |

Assembly | Testing | O v e r h a u l i n g of D i e s e l E n g i n e

Autonomous Underwater Vehicle (AUV) | Unmanned Aerial Vehicle (UAV) |

NEW TECHNOLOGIES utsrponlkihgfedcbaWUSROLGFE
Unmanned Surface Vessel

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In (Pursuit of'Excellence e£ Quality iCaing
SECTOR PERFORMANCE
[11000
Figures in ~ crore | As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
45 Protean eGovTechnologies 934 783.9 1 0 7 .1 8 5 7 .3 8 8 0 .5 - 16 0 1 63 0 2 4 5 562
46 Dynacons Systems & Solut ions 946 772.5 3 3 .5 1 0 4 .8 1 7 6 .1 87 4 0 - 2 1 0 1 0 579
47 VL E- Go vernance & IT Solutions 975 732.3 5 .9 2 6 1 8 .4 2 6 7 2 .0 - 1 - - 98 - - 0 - 902
TOTAL - 818114.0 115753.4 433645.9 527227.0 2 54 0 0 21 1 3 5 10 -
SHARE N BS1000 - 6.9 15.9 8.4 5.0 0.2 39.4 0.2 5.1 7.6 1.5 5.015.5 23.2 -

11 TELECOM M UNICATIONS
1 Bhart i Airtel 17 140833.5 8 3 4 5 .9 4 8 6 8 1 .5 3 1 7 3 3 4 .0 - 3 9 1 35 14 26 3 2 722
2 Vodafone Idea 43 42489.0 - 2 9 3 0 1 . 1 - 7 4 3 5 9 . 1 1 7 0 6 3 4 .7 0 4 14 1 41 55 54 0 - 878
3 Indus Towers 60 28959.6 2 0 4 0 .0 2 1 1 0 9 .5 4 2 7 3 9 .9 - 3 37 - 27 6 18 2 - 593
4 Tata Com m unicat ions 78 18277.8 1 7 9 6 .0 1 4 8 7 .9 1 3 4 9 9 .5 - 20 2 1 52 2 12 2 3 466
5 HFCL 296 4892.9 3 0 1 .0 3 0 7 0 .9 4 0 8 4 .7 52 7 1 - 26 3 2 2 1 556
6 Railtel Corporation of India 583 2002.2 1 8 9 .1 1 6 4 8 .9 1 8 3 2 .2 - 10 2 - 67 0 8 3 4 280
7 M TN L 661 1549.6 - 2 9 1 5 . 1 - 2 0 8 5 4 .9 8 0 3 3 .2 0 37 13 0 39 1 5 3 47 0 - 996
8 Tata Teleservices (M ah) 790 1122.9 - 1 1 4 4 .7 - 1 9 0 5 4 .5 8 3 0 .8 - 6 3 2 45 1 3 4 13 - - 833
9 DigiSpice Technologies 1046.2 - 2 0 .6 2 3 0 .6 3 2 5 .6 - 11 - 0 88 0 2 0 - 564
28

10 Tejas Net works 840 1005.6 - 3 6 .4 2 9 7 3 .0 3 1 8 1 .6 56 39 1 - -6 2 12 -1 - 912

11 Astra M icrowave Products 907 842.3 6 9 .8 6 4 2 .6 9 0 2 .5 64 11 1 - 7 4 3 3 2 745
TOTAL - 243021.5 -20676.2 -34423.6 563398.7 2 5 12 1 36 20 28 2 1 -
SHARE N BS1000 - 2.0 - 2.8 - 0.7 5.4 0.1 1.1 4.4 2.4 4.016.0 14.3 2.1 0.8 -

17 TEXTILE & GARM ENTS

1 Vard hm an Textiles 147 10356.5 7 9 5 .2 8 4 7 4 .9 1 0 2 7 7 .0 57 7 8 - 12 1 4 2 1 238
2 Raym o nd 167 8870.0 5 2 8 .9 2 8 1 4 .0 5 5 6 1 .5 40 12 3 2 30 3 3 2 0 441
3 Arvind 175 8506.7 4 0 4 .6 3 2 8 7 .0 4 9 6 6 .5 52 10 7 0 19 2 3 1 2 385
4 Welsp un Living 192 7921.0 1 9 8 .8 3 9 7 9 .6 6 9 5 9 .5 50 10 6 2 21 2 6 1 0 435
5 Alok Industries 221 6778.6 - 8 8 0 .5 - 1 8 9 0 0 .4 5 3 7 3 .3 68 7 13 - 13 7 5 0 - 821
6 K P R M ill 225 6634.7 8 1 4 .1 3 7 0 6 .7 5 0 7 5 .2 62 8 3 - 6 1 3 4 1 315
7 Page Industries 264 5549.1 5 7 1 .3 1 3 7 1 .0 1 7 8 3 .8 53 16 0 2 13 1 1 3 5 170
8 Indo Ram a Synthetics 319 4439.5 - 2 4 .6 5 7 2 .7 1 5 0 4 .8 75 3 8 - 13 1 1 0 - 846
9 Filatex India 328 4303.8 8 9 .9 1 0 9 9 .0 1 4 4 2 .3 78 2 8 0 6 1 2 1 0 209
10 RSWM 345 3936.7 1 2 2 .9 1 3 1 7 .0 2 4 8 4 .8 60 11 11 0 10 2 3 1 1 750
11 Sut lej Textiles an d Industries 388 3300.3 3 7 .3 1 1 0 9 .4 2 0 8 6 .4 56 13 9 - 13 2 4 1 0 583
12 Pearl Global Industries 391 3292.6 1 4 9 .3 7 0 2 .2 1 3 1 4 .5 51 17 1 - 22 2 2 1 0 403
13 Indo Count Industries 405 3108.5 2 7 6 .8 1 7 9 2 .7 2 6 8 6 .5 46 8 5 - 25 2 2 3 1 364
14 Sheela Foam 421 2971.9 2 0 1 .2 1 5 9 2 .1 2 2 1 0 .7 58 9 1 3 17 1 3 2 - 316
15 Sangam India 432 2824.2 1 3 0 .5 8 8 3 .1 1 7 1 9 .6 58 8 11 - 13 2 3 1 0 594
16 Nahar Sp inning M ills 438 2806.0 1 1 0 .8 1 5 5 3 .9 2 2 9 1 .8 65 9 8 - 8 1 3 1 0 512
17 Himatsingka Seide 478 2558.9 - 6 4 .1 1 4 4 9 .0 4 5 2 0 .7 53 11 9 1 12 10 6 0 - 948
Nitin Sp inners 492 2420.1 1 6 4 .8 1 0 2 8 .9 2 0 1 3 .7 68 6 8 0 6 2 4 0 1 700
8

19 Siyaram Silk M ills 515 2310.7 2 5 1 .0 1 1 3 6 .9 1 3 5 6 .0 48 8 4 1 22 1 3 3 2 224

20 Lux Industries 526 2274.1 1 4 2 .0 1 4 6 2 .7 1 7 2 8 .7 39 5 0 8 37 1 1 2 1 335
21 Sport king India 535 2231.5 1 3 2 .0 8 2 2 .4 1 3 8 6 .2 70 5 5 0 8 1 2 3 - 458
22 Jindal W o rld wid e 549 2149.1 1 1 5 .7 6 5 0 .0 1 4 8 7 .4 68 2 7 0 11 2 2 2 0 524
23 Gokaldas Exports 554 2129.7 1 7 3 .0 8 8 6 .3 1 0 5 4 .1 49 29 1 - 6 1 3 1 0 309
24 Century Enka 564 2086.2 9 0 .3 1 3 2 1 .7 1 4 1 5 .0 66 6 12 - 9 0 2 1 1 236
25 N and an Denim 578 2039.5 0 .8 5 4 0 .4 1 0 1 0 .7 81 4 7 - 3 3 2 0 - 635
26 PDS 614 1823.3 2 6 5 .0 9 9 4 .8 1 7 9 6 .2 83 7 0 1 4 1 1 0 1 526
27 Nahar Indust rial Enterprises 630 1717.8 7 8 .9 9 5 9 .7 1 2 4 0 .0 55 10 11 - 13 2 3 1 - 595
28 Vishal Fabrics 657 1561.4 5 2 .8 3 9 0 .3 7 2 1 .5 84 4 1 - 2 2 2 1 - 657
29 Banswara Synt ex 660 1554.3 1 1 2 .7 5 0 9 .1 8 9 1 .1 40 18 12 0 15 2 3 2 1 762
30 Loyal Textile M ills 672 1509.2 2 .8 3 6 0 .3 1 0 2 3 .8 64 12 7 - 13 3 2 0 - 862
31 Sw an Energy 679 1485.8 - 6 1 .1 8 3 2 .3 7 5 6 9 .2 74 2 2 0 5 15 5 0 0 985
32 AYM Synt ex 685 1467.6 7 .2 4 2 0 .2 7 0 5 .8 60 4 7 - 22 2 4 0 - 605
33 Bannari Am m an Sp inning M ills 687 1460.7 - 2 9 .6 3 7 4 .3 1 0 4 7 .7 74 11 5 - 6 4 2 -1 - 971
34 M afatlal Industries 690 1451.8 3 7 .2 6 1 4 .4 7 2 9 .5 76 4 4 - 11 1 1 0 - 632
35 TCNS Clothing Co. 730 1343.1 - 1 7 .6 6 1 1 .7 1 1 8 1 .9 39 14 1 5 31 4 9 -1 - 940
36 Garware Technical Fibres 733 1319.0 1 7 2 .2 1 0 1 6 .4 1 1 6 4 .8 31 13 3 1 33 1 2 4 1 302
37 M onte Carlo Fashions 738 1300.1 1 3 2 .5 7 7 6 .4 1 1 7 0 .3 58 7 1 4 12 2 3 3 3 838
38 Dollar Industries 743 1284.2 5 2 .5 7 0 5 .7 8 8 7 .2 50 6 1 8 27 1 1 1 1 418
39 Ganesha Ecosphere 766 1221.5 6 9 .5 6 3 7 .9 1 1 6 6 .5 66 6 8 - 9 1 2 2 0 899
40 SP Apparels 797 1103.4 8 2 .5 6 8 0 .1 9 2 8 .9 44 22 3 0 16 2 3 3 1 587
41 Rupa & Company 808 1079.9 5 3 .7 9 1 1 .8 1 1 7 3 .2 49 5 2 7 27 2 1 1 2 552
42 Am b ika Cotton M ills 841 1005.3 1 1 1 .9 8 1 6 .6 8 2 4 .9 66 5 4 0 7 1 3 4 2 619
43 M aral Overseas 843 1001.3 - 1 5 .9 1 4 1 .0 5 2 7 .6 48 15 6 - 28 2 3 0 - 937

96 M arch 2 02 4
 — ADVERTORIAL yxwvut

Host your program at ITME Center and enjoy

seamlessly & elegantly executed event
India ITME Society launched its newly builtyxwvutsrponlihgfedcaTRNMKIEDC
ITM E Expo & Knowledge Center (ITM E CENTER) -
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SECTOR PERFORMANCE
021000
Figures in ~ crore I As % of Reported t ot al income
Ind Name Revenue Total Net Net wort h Total Raw Emp Power Advt Other Int Depr Tax Dividend FSI
Rank rank revenues profit assets materials cost & fuel exp rank
44 Sum eet Industries 846 995.7 - 5 8 .7 - 1 1 6 .3 3 7 7 .4 83 3 0 0 17 1 3 -1 - 787
45 Precot 851 985.8 - 2 6 .0 4 0 5 .7 8 0 7 .5 66 9 7 - 15 4 3 -1 - 874
46 Ginni Filam ent s 862 948.6 - 1 4 .3 2 7 8 .9 5 4 8 .2 66 8 7 - 16 2 3 -1 - 767
47 Rajap alayam M ills 864 942.4 8 1 .9 2 2 4 1 .7 3 3 5 5 .3 56 11 5 - 12 6 6 0 964
48 Indian Acrylics 871 921.3 1 9 .5 9 2 .2 2 8 8 .0 66 7 11 0 8 4 2 - 803
49 Winso m e Textile Industries 882 903.2 2 4 .5 2 5 6 .2 5 4 1 .9 62 8 6 - 13 4 2 - 792
50 DCM Nouvelle 887 888.7 1 2 .3 3 1 1 .6 5 8 8 .0 79 6 5 - 6 1 1 - 758
51 Donear Industries 894 870.0 3 6 .2 1 7 1 .1 5 5 2 .4 55 9 6 1 19 4 1 0 952
52 Suryalakshm i Cotton M ills 895 867.0 1 0 .4 2 5 9 .4 4 6 9 .7 63 7 8 0 15 3 2 - 753
53 Kewal Kiran Clothing 898 857.8 1 1 9 .0 5 4 7 .0 6 1 3 .1 21 11 2 3 43 1 1 4 363
54 Pasupati Acrylon 903 849.0 3 5 .9 3 1 5 .7 3 1 8 .6 74 3 11 - 5 0 1 - 283
55 Go Fashion (Ind ia) 954 755.4 8 2 .8 5 2 0 .5 8 6 5 .1 40 14 1 - 16 4 12 - 825
56 Gloster 973 737.9 5 4 .4 1 0 7 9 .0 1 1 6 7 .4 53 16 3 - 14 0 5 10 820
57 Damodar Industries 980 729.5 0 .8 1 1 5 .0 4 1 3 .1 78 5 4 0 6 4 3 0 - 884
58 M an o m ayTex India 985 722.1 1 3 .0 1 1 5 .9 2 6 3 .6 66 2 2 - 24 2 2 0 - 866
TOTAL - 143463.5 6030.9 42999.5 109629.7 60 9 6 1 15 2 3 1 1 -
SHARE N BS1000 - 1.2 0.8 0.8 1.0 1.4 1.2 1.2 1.6 1.0 1.1 0.9 0.8 0.3 -

39 TRADING
1 Redingt on 297 4885.9 1 3 9 2 .6 6 5 6 1 .5 1 0 4 2 7 .6 94 1 - - 2 0 0 0 1 807
2 MMTC 556 2127.1 1 5 6 2 .3 1 4 1 1 .8 1 6 5 7 .3 61 2 0 0 2 2 0 4 - 231
3 Hind ware Hom e Innovat ion 582 2025.2 5 7 .1 5 6 8 .5 1 6 0 1 .0 31 14 4 4 38 3 3 1 0 746
4 PTC India 617 1813.3 4 4 5 .6 4 1 6 4 .0 1 1 6 0 1 .1 89 1 0 0 2 4 1 1 1 901
5 Steel Exchange India 696 1429.8 - 5 8 .9 3 0 9 .0 8 7 8 .5 84 2 0 - 6 7 2 2 - 808
6 Creative Newt ech 714 1381.6 2 4 .6 1 0 8 .6 2 0 7 .2 92 1 0 0 3 1 0 0 0 668
7 Aegis Logistics 761 1232.9 4 6 3 .0 3 0 1 7 .9 5 5 1 3 .8 86 1 0 0 3 1 1 2 2 848
8 Honasa Consumer 814 1068.5 - 1 4 2 .8 - 1 1 8 7 .0 7 0 4 .2 32 10 0 34 31 0 2 1 - 875
9 Rajnand ini M etal 830 1033.2 1 3 .7 4 1 .4 1 1 3 .7 94 1 1 - 1 1 0 1 3 849
10 Cello World 835 1018.9 2 6 6 .1 1 3 6 .5 1 1 5 7 .2 46 8 3 1 18 0 3 5 - 752
11 MSTC 889 879.2 2 4 2 .0 7 8 6 .5 1 0 3 6 .8 7 20 0 0 33 0 2 10 12 387
12 SVP Global Textiles 909 837.1 - 2 3 4 .3 - 2 7 .0 2 9 3 3 .8 57 3 4 0 30 22 12 0 - 1000
TOTAL - 19732.7 4030.9 15891.6 37832.1 87 2 0 1 4 1 1 1 1 -
SHARE N BS1000 - 0.2 0.6 0.3 0.4 1.7 0.2 0.0 0.9 0.2 0.5 0.1 0.5 0.3 -

25 TRANSPORT & LOGISTICS

1 Allcargo Logistics 18173.3 6 2 9 .6 2 5 1 4 .2 4 0 1 8 .8 - 10 0 0 82 0 2 1 0 91
8

2 TVS Sup p ly Chain Solut ions 148 10356.1 3 9 .8 6 8 7 .1 4 1 8 1 .3 14 20 1 0 58 2 5 0 - 505

3 Container Corporation 170 8644.9 1 1 7 3 .9 1 1 1 2 4 .2 1 2 1 2 8 .5 - 5 0 0 69 1 7 5 8 194
4 Delhivery 200 7542.2 - 1 0 0 7 .8 9 1 7 7 .1 1 0 1 5 1 .7 - 18 2 0 81 1 11 -1 - 784
5 Blue Dart Express 277 5204.3 3 7 0 .5 1 1 7 9 .6 2 3 1 7 .7 - 16 10 - 55 1 8 3 1 226
6 M ahind ra Logistics 282 5143.7 2 6 .3 5 6 3 .0 1 4 2 8 .4 0 7 0 0 87 1 4 0 0 548
7 Transport Corporation 352 3857.2 3 1 7 .3 1 6 7 1 .7 1 8 0 1 .1 - 5 0 0 82 0 3 1 1 45
8 VRL Logistics 434 2819.9 3 2 3 .2 9 7 5 .8 1 7 3 6 .7 - 15 29 0 36 2 6 1 2 444
9 Allcargo Gati 624 1758.0 - 9 .3 5 4 1 .2 9 5 4 .6 14 11 0 0 69 2 3 1 - 743
10 JITF Infra Logistics 649 1613.4 - 1 2 7 .7 - 9 5 4 .0 2 6 3 8 .6 49 6 0 0 28 19 4 1 - 984
11 Gat eway Distriparks 693 1448.0 2 3 9 .9 1 7 6 4 .7 2 3 1 4 .6 - 5 2 0 66 3 7 0 7 715
12 Sind hu Trade Links 729 1350.5 0 .4 8 1 1 .0 3 1 9 7 .7 5 5 3 0 71 12 2 1 - 982
13 TCI Express 754 1248.2 1 3 9 .3 5 9 6 .4 6 0 3 .4 - 10 0 0 74 0 1 4 2 63
14 AccuracyShip p ing 884 895.4 8 .2 1 1 5 .6 2 3 0 .6 30 2 5 0 59 1 1 0 - 648
15 Lancer Containers Lines 906 844.0 5 3 .7 1 8 3 .3 4 6 6 .4 - 2 0 - 87 2 2 2 - 877
16 Ritco Logistics 955 754.1 2 4 .4 1 4 8 .7 3 5 6 .6 - 2 0 0 91 2 1 1 - 880
TOTAL - 71653.2 2201.9 31099.7 48526.6 4 11 3 0 71 2 5 1 1 -
SHARE N BS1000 - 0.6 0.3 0.6 0.5 0.0 0.7 0.3 0.1 2.3 0.4 0.7 0.4 0.3 -

23 TYRES
1 Apollo Tyres 65 24935.2 1 1 0 4 .6 1 2 8 7 4 .7 2 0 4 0 5 .9 60 11 3 2 11 2 6 1 1 419
2 M RF 68 23608.1 7 6 9 .0 1 4 7 0 7 .5 1 8 1 7 0 .7 67 7 5 1 9 1 5 1 0 150
3 JK Tyre & Industries 107 14742.3 2 6 2 .5 3 2 9 6 .4 9 1 2 4 .1 68 8 4 1 10 3 3 1 0 540
4 CEAT 136 11335.7 1 8 6 .2 3 4 2 2 .3 5 8 0 1 .8 65 7 3 2 14 2 4 1 0 294
5 Balkrishna Industries 150 10101.2 1 0 5 7 .4 7 5 5 6 .9 1 1 0 6 0 .2 49 5 3 4 19 0 6 4 3 285
6 TVS Srichakra 397 3225.4 7 8 .0 1 0 3 4 .7 1 7 2 1 .8 56 10 4 - 23 1 3 1 1 386
7 Goodyear India 424 2925.9 1 2 2 .9 6 0 3 .1 6 4 6 .4 74 6 3 0 9 0 2 1 2 47
TOTAL - 90873.8 3580.5 43495.5 66931.1 63 8 4 2 12 2 5 1 1 -
SHARE N BS1000 - 0.8 0.5 0.8 0.6 0.9 0.6 0.5 2.1 0.5 0.5 0.9 0.5 0.2 -

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UNLISTED COMPANIES [11000 zyx

India's best unlisted companies

KRISHNA KANT transport and logistics industries. In contrast, MNCs from
manufacturing and consumer goods space — Pernod Ricard,
s in the previous editions ofSB

A
BS1 0 0 0 , the list of the
country's top unlisted companies is dominated by the
Indian subsidiaries or associates of global
multinationals (MNCs). In all, 17 out of the best 30 unlisted
companies in the league table are local subsidiaries of global
multinationals. Some such entities in the top 30 list are DHL
Logistics India, Expeditors International India, Posco
Maharashtra Steel, Toyota Kirloskar Motor, Kia India, Microsoft
India (R&D), Suzuki Motorcycle India, ArcelorMittal Nippon
Steel India, and Google India.
A large presence of MNCs in the unlisted list is not a surprise.
Like their listed peers, Indian subsidiaries of global MNCs are
market leaders with access to their parents' global network and
supply chain, a strong brand equity, world-class products and
technology, and a well-capitalised balance sheet.
Besides MNCs, the top 30 list also includes two public-sector
companies: Orissa Mining Corporation and HLL Life Care.
There are six companies from automobile and ancillaries in
the top 30 league table for FY23 and four companies each from
mining and metals and information technology-software
sectors. There are two new entrants, each from the power and
Mondelez India, JCB, Caterpillar and Reckitt Benckiser (India)
— which were in the top 30 list last year, dropped out. The year
also saw exits of pharma companies. There's only one entry
from this industry in 2023 - Bharat Biotech International -
compared to four in FY22.
Analysts attribute this to a sharp rise in revenues and profits
of metal and mining companies due to a turnaround in the
global metal cycle. Automotive companies gained from double-
digit growth in sales volumes and higher price realisations.
Bharat Biotech, a vaccine maker, is the top unlisted company
in FY23 with 458 per cent year-on-year (Y-o-Y) revenue growth
and 587 per cent net profit Y-o-Y growth last financial year. ytolhgedM
Methodology
The best 30 unlisted companies are based on a composite score
of their ranking on revenue growth, reported net profit growth,
increase in net worth, debt-to-equity ratio and return on net
worth. These firms offered the best combination of faster
growth in FY23, lower balance sheet leverage and high return on
equity. They were selected from the universe of 250 biggest
unlisted companies in terms of their revenues in FY23. •

TOP 30 UNLISTED COMPANIES IN INDIA yvutsrponmlkihgfedcaYWTRNC

Revenue Com pany Revenue Y- o - Y Net prof it Y- o - Y Tot al asset s RoNW Year
rank (T crore) chang e (%) crore) chang e (%) crore) (%) en d
140 Bh a r a t Bi o t e c h In t er n at i o n al 8 ,7 7 0 4 5 7 .7 2 ,8 9 6 5 8 6 .8 5 ,7 2 9 1 1 2 .0 M ar ' 2 2
217 DHL Lo g i st i cs 5 ,6 9 1 7 0 .6 408 1 1 8 .5 1 ,3 5 0 3 6 .5 M ar ' 2 2
154 W a a r e e En e r g i e s 7 ,8 6 7 1 7 2 .5 483 5 3 8 .3 2 ,5 5 6 4 4 .2 M ar ' 2 3
220 Ex p e d i t o r s I n t e r n a t i o n a l Ind ia 5 ,6 7 2 8 3 .7 241 9 4 .9 388 9 9 .3 M ar ' 2 2
62 O d i sh a M i n i n g Co r p o r at i o n 1 7 ,7 2 4 1 9 8 .9 2 ,7 3 2 7 2 .2 1 0 ,1 9 0 3 6 .4 M ar ' 2 2
18 HLL Li f e car e * 3 5 ,5 6 9 5 7 5 .3 408 2 6 2 .2 2 ,1 3 8 6 8 .4 M ar ' 2 2
142 Ji n d a l I n d i a Th e r m a l Po w e r 8 ,7 1 0 3 0 6 .8 5 ,1 3 1 1 1 0 .8 6 ,5 9 6 8 3 .8 M ar ' 2 2
175 Zo h o Co r p o r at i o n 6 ,9 9 9 2 8 .5 2 ,7 4 9 4 3 .3 8 ,8 2 1 3 8 .8 M ar ' 2 2
247 Ri m j h i m I sp at 5 ,1 2 4 6 7 .9 275 1 1 9 .1 1 ,3 5 4 4 3 .2 M ar ' 2 2
19 To y o t a Ki r l o sk ar M o t o r 3 4 ,4 3 7 7 4 .6 1 ,4 0 4 1 7 0 .7 8 ,5 5 6 3 9 .1 M ar ' 2 3
14 Ki a I n d i a 3 9 ,2 4 5 5 2 .7 2 ,1 2 2 1 5 7 .1 1 2 ,9 8 9 3 1 .4 M ar ' 2 3
157 Ja b i l Ci r cu i t I n d i a 7 ,8 4 2 9 0 .8 420 4 3 .1 2 ,1 7 5 2 9 .4 M ar ' 2 3
242 KRIBHCO Fe r t i l i se r s 5 ,2 1 2 6 1 .0 222 1 7 6 .8 1 ,4 6 0 3 5 .2 M ar ' 2 3
172 Su zu k i M o t o r cy l e I n d i a 7 ,1 6 2 3 6 .1 370 5 ,7 3 1 .7 2 ,3 9 4 1 6 .9 M ar ' 2 3
112 M i cr o so f t I n d i a (R& D ) 1 0 ,5 9 0 4 4 .7 964 1 0 9 .8 4 ,9 2 2 2 8 .7 M ar ' 2 2
10 A r ce l o r M i t t al N i p p o n St eel I n d i a 5 7 ,1 3 8 7 1 .3 7 ,9 4 4 3 2 5 .1 7 2 ,6 7 4 2 5 .9 M ar ' 2 2
92 Po sco M a h a r a sh t r a St eel 1 2 ,4 2 7 8 8 .6 747 1 6 8 .3 4 ,5 7 5 2 0 .7 M ar ' 2 2
202 ADM Ag ro I n d u st r i e s I n d i a 6 ,2 5 9 5 4 .4 139 2 3 6 .0 355 4 2 .2 M ar ' 2 2
132 I n d i a Ya m a h a M o t o r 9 ,2 6 1 3 1 .2 475 1 ,1 3 8 .1 2 ,7 3 0 2 0 .4 Dec ' 2 2
231 Jh a j j a r Po w e r 5 ,4 1 4 5 6 .7 921 1 0 7 .5 5 ,8 3 9 9 0 .9 M ar ' 2 3
83 RJ Co rp 1 3 ,7 3 7 4 8 .9 912 1 2 9 .5 9 ,1 0 9 8 4 .4 M ar ' 2 2
100 M obis In d ia 1 1 ,3 1 1 2 3 .0 923 6 3 .1 3 ,9 3 0 2 7 .2 M ar ' 2 2
239 Ja q u a r & Co m p a n y 5 ,2 7 2 5 4 .1 500 7 3 .2 2 ,9 3 5 2 0 .9 M ar ' 2 2
127 Go o g l e I n d i a 9 ,4 3 9 4 7 .8 1 ,2 3 9 5 3 .3 6 ,7 5 2 2 1 .8 M ar ' 2 2
162 BASF Cat al y st s I n d i a 7 ,6 3 9 4 1 .4 304 3 7 1 .7 2 ,6 6 0 4 7 .3 M ar ' 2 2
125 Ap p le In d i a 9 ,5 3 6 4 5 .7 2 ,2 3 0 7 6 .5 5 ,8 2 5 6 7 .8 M ar ' 2 3
178 O p t u m Gl o b al So l u t i o n s ( I n d i a ) 6 ,8 6 5 3 2 .2 848 1 1 4 .6 2 ,4 9 3 4 5 .1 M ar ' 2 3
131 Bh i l o sa I n d u st r i e s 9 ,3 2 6 7 1 .8 956 5 6 .3 6 ,1 1 1 2 3 .2 M ar ' 2 2
192 BM W I n d i a 6 ,5 3 4 5 5 .5 204 2 3 8 .0 2 ,1 3 1 2 8 .6 M ar ' 2 3
158 HSBC El ect r o n i c Dat a Pr o cessi n g I n d i a 7 ,8 0 8 2 6 .2 930 3 0 .7 2 ,6 6 0 4 6 .7 M ar ' 2 3

* The j u m p in r even u e is m ai n l y d u e to an i n cr ease in t r ad i n g in FY22; RoNW: r et u r n o n n et w o r t h ; ~ crore f i g u r es are r o u n d ed o f f ; So u r ce: Cap i t al i n e

Business Standard
100 M a r c h 202 4
 021000
TOTAL REVENUES NET PROFIT NET WORTH TOTAL ASSETS OPM NPM RONW Year
Rank Company Name f crore % chg f crore %ch g f crore %ch g f crore % chg (%) (%) % ended

1 N ayara En erg y 1 1 6 2 3 9 .6 1 9 .4 9 4 2 6 .2 9 2 3 .5 3 0 5 3 3 .1 4 1 .1 5 2 8 5 7 .7 7 .9 1 3 .3 8 .0 3 6 .1 M ar' 2023

2 HPCL- M it t al Energ y 9 7 0 0 9 .6 7 .6 4 8 9 8 .6 2 8 9 .5 1 4 7 9 3 .8 3 2 .3 5 7 5 1 6 .8 1 9 .6 8 .8 5 .1 3 7 .7 M ar' 2023

3 M ah ar ash t r a St at e Elect ricit y Dist rib ut io n 9 2 0 4 3 .4 1 2 .3 2 7 9 .9 2 3 7 0 5 .6 3 .2 9 5 1 5 7 .3 6 .4 9 .3 0 .3 - 2 .6 M ar' 2022

4 U.P. Po w er Corp 9 0 2 7 1 .6 1 2 .4 - 1 5 8 5 8 .5 3 8 7 6 8 .9 - 1 6 . 4 1 2 4 6 9 0 .5 - 8 .0 - 6 .4 - 0 .0 M ar' 2023

5 Sam su n g In d i a Elect ro nics 8 6 0 5 0 .9 1 3 .5 3 8 4 4 .9 - 4 .9 3 0 1 8 2 .3 1 4 .6 3 5 2 2 5 .5 2 0 .4 8 .6 4 .7 1 3 .6 M ar ' 2 0 2 2

6 Tam i l n ad u Gen er at i o n & Dist rib u t io n Corp 7 0 4 4 7 .4 1 1 .1 - 1 1 9 5 4 .6 - 7 9 8 0 3 .1 7 4 8 6 5 .2 - 1 .7 4 .1 - 0 .0 M ar ' 2 0 2 2

7 Gu j ar at Urja Vikas N ig am 6 4 0 7 4 .4 2 5 .8 1 7 1 1 .8 - 1 1 . 1 4 0 4 5 8 .8 1 5 .6 7 0 3 5 3 .1 7 .7 1 3 .2 2 .8 4 .5 M ar ' 2 0 2 2

8 In d i an Farm ers Fert ilizer Co o p erat ive 6 3 3 8 6 .0 4 6 .0 3 0 5 2 .7 6 2 .1 1 7 4 0 8 .9 2 0 .3 3 3 6 9 0 .3 1 1 .3 9 .1 5 .1 1 9 .2 M ar ' 2 0 2 3

9 H y u n d ai M o t o r In d i a 6 1 5 7 1 .8 2 8 .2 4 7 0 9 .3 6 2 .3 2 0 0 5 4 .8 1 9 .0 2 3 0 2 3 .9 1 7 .8 1 4 .4 7 .8 2 5 .5 M ar ' 2 0 2 3

10 Arcelo rM it t al N ip p o n St eel In d i a 5 7 1 3 8 .1 7 1 .3 7 9 4 3 .7 3 2 5 .1 2 5 8 6 6 .6 2 9 1 .3 7 2 6 7 3 .6 3 3 .0 2 7 .5 1 4 .3 2 5 .9 M ar ' 2 0 2 2

11 Fl i p kar t In d i a 5 6 2 7 9 .7 8 .7 - 4 8 9 7 .0 1 0 4 7 1 .7 1 .3 1 0 7 9 9 .9 - 0 .6 - 8 .4 - 0 .0 M ar ' 2 0 2 3

12 Accen t u re So l u t i o n s 4 7 7 8 7 .2 4 3 .8 4 3 3 9 .2 5 5 .8 6 5 2 1 .1 2 6 .5 1 2 0 3 2 .8 6 .0 1 7 .0 9 .1 7 4 .3 M ar ' 2 0 2 2

13 Pu n j ab St at e Po w er Corp 3 9 3 1 4 .2 8 .9 - 4 7 7 6 .0 2 0 1 0 1 .2 - 1 9 . 2 4 8 4 3 5 .7 - 5 .8 - 5 .4 - 0 .0 M ar ' 2 0 2 3

14 Kia In d i a 3 9 2 4 5 .1 5 2 .7 2 1 2 2 .3 1 5 7 . 1 7 8 2 7 .3 3 7 .2 1 2 9 8 8 .8 7 .0 1 1 .9 5 .5 3 1 .4 M ar ' 2 0 2 3

15 Kar n at ak a St at e Beverag es Corp 3 8 5 0 2 .0 1 5 .6 9 3 .4 4 8 .5 4 9 6 .0 1 7 .7 5 2 2 .6 1 4 .3 0 .4 0 .2 2 0 .4 M ar ' 2 0 2 3

16 Fo xco n n Ho n Hai Tech n 3 7 5 2 1 .2 3 2 1 . 4 7 4 5 .0 8 0 6 3 .0 1 5 2 .0 8 5 1 1 .4 7 9 .9 4 .0 2 .3 1 3 .0 M ar ' 2 0 2 3

17 Bh ar at San ch ar N ig am 3 6 8 9 0 .8 9 3 .6 - 8 1 6 1 .4 6 2 9 6 3 .4 4 0 .9 1 0 0 4 1 6 .5 6 .0 7 .9 - 0 .0 M ar ' 2 0 2 3

18 HLL Lif ecare* 3 5 5 6 8 .8 5 7 5 .3 4 0 8 .2 2 6 2 .2 7 6 8 .9 9 9 .1 2 1 3 7 .5 8 1 .3 1 .8 1 .1 6 8 .4 M ar ' 2 0 2 2

19 Toyot a Kirlo skar M ot or 3 4 4 3 7 .1 7 4 .6 1 4 0 4 .3 1 7 0 .7 4 1 6 2 .2 3 7 .5 8 5 5 6 .3 1 3 .3 8 .5 4 .2 3 9 .1 M ar ' 2 0 2 3

20 Co g nizant Tech n o l o g y So l u t i o n s In d i a 3 4 0 4 8 .6 1 4 .4 3 0 0 1 .9 - 8 .4 2 3 9 3 3 .8 - 1 3 . 8 2 8 3 7 5 .8 - 1 2 . 0 2 0 .3 8 .9 1 1 .6 M ar ' 2 0 2 2

21 So u t h er n Po w er Dist rib u t io n Co o f Tel en g an a 3 3 3 9 0 .5 3 5 .8 - 6 2 6 .8 - 1 7 0 5 9 .8 2 7 0 2 .0 - 4 1 . 0 - 1 2 .3 - 0 .0 M ar ' 2 0 2 2

22 Dell In t er n at i o n al Services In d i a 3 2 3 7 8 .5 4 2 .8 1 3 2 3 .2 - 1 6 . 4 6 7 3 5 .6 2 0 .5 9 1 7 6 .5 1 7 .0 8 .0 4 .2 2 1 .5 M ar ' 2 0 2 2

23 Su zu k i M o t o r Gu j ar at 3 2 1 9 6 .5 2 9 .9 5 4 .4 1 3 5 . 1 1 2 8 1 0 .7 0 .4 1 2 8 1 0 .9 0 .3 7 .0 0 .2 0 .5 M ar ' 2 0 2 3

24 M M TC- PAM P In d i a 3 1 7 1 8 .6 4 .0 1 0 6 .1 1 5 4 .4 4 5 4 .6 3 0 .5 1 3 9 8 .4 4 0 .9 0 .9 0 .3 2 6 .4 M ar ' 2 0 2 3

25 Gu j ar at St at e Pet r o l eu m Corp 3 0 9 4 9 .5 5 6 .1 3 6 8 0 .2 - 1 .4 4 1 6 4 .8 9 7 .9 9 1 6 0 .3 3 .1 1 8 .1 1 2 .0 3 2 .6 M ar' 2022

26 Vivo M o b ile In d i a 3 0 3 2 8 .5 1 2 .4 2 1 1 .8 - 1 3 8 .0 2 8 6 9 .8 6 .2 1 .8 0 .7 - 1 3 2 .4 M ar' 2023

27 M eg h a En g i n eer i n g & In f rast ru ct u res 2 9 1 9 8 .7 3 1 .2 2 6 0 1 .4 2 5 .2 1 8 7 6 2 .0 1 7 .9 2 5 2 9 7 .9 1 4 .8 1 9 .6 9 .0 1 7 .5 M ar ' 2 0 2 2

28 Rash t riya Isp at N ig am 2 8 7 7 2 .0 6 9 .9 9 0 5 .7 3 1 6 4 .6 3 0 .1 2 2 0 5 6 .1 - 1 2 . 7 1 2 .4 3 .2 1 3 .6 M ar ' 2 0 2 2

29 W B St at e Elect ricit y Dist rib u t io n Co 2 7 7 9 4 .8 3 .4 - 2 0 5 .4 2 9 0 0 .5 6 .7 4 4 7 4 7 .3 6 .7 1 5 .6 - 4 1 .5 M ar ' 2 0 2 2

30 H o n d a M o t o rcycle & Scoot er In d i a 2 7 5 3 5 .1 2 1 .6 1 8 5 1 .5 8 4 .7 9 3 1 7 .2 1 1 .1 1 0 2 1 4 .2 1 1 .9 1 2 .5 6 .8 2 0 .9 M ar ' 2 0 2 3

31 Dam o d ar Valley Corp 2 6 4 2 2 .9 1 4 .4 7 0 4 .2 1 0 .9 7 6 8 4 .7 1 4 .0 4 0 2 6 2 .5 2 .4 2 2 .6 2 .8 5 .6 M ar ' 2 0 2 3

32 Kr i sh ak Bh ar at i Co - o p er at i ve 2 5 4 3 8 .6 5 6 .3 5 6 8 .8 - 5 1 . 6 5 1 2 8 .6 1 0 .5 1 0 6 5 0 .0 3 8 .0 5 .1 2 .4 1 1 .6 M ar ' 2 0 2 3

33 So u t h er n Po w er Dist rib u t io n Co m p an y o f AP 2 5 3 7 1 .6 2 8 .6 1 2 3 3 .8 - 6 7 6 7 .0 2 7 2 2 5 .0 6 9 .6 1 2 .3 6 .5 - 0 .1 M ar ' 2 0 2 3

34 Fo o d Corp o f In d i a 2 5 3 5 2 .1 - 4 .6 0 .0 9 9 5 8 .9 2 4 .2 5 0 6 6 2 .1 - 1 3 . 6 1 .7 - - 0 .1 M ar ' 2 0 2 3

35 Pash ch i m an ch al Vid yu t Vit ran N ig am 2 4 0 2 0 .3 1 8 .4 - 6 9 9 .3 1 3 2 5 2 .4 3 .1 2 6 7 1 0 .3 - 2 .5 1 0 .2 - 0 .0 M ar ' 2 0 2 2

36 M ah ar ash t r a St at e Po w er Gen er at i o n Co 2 3 5 1 5 .7 - 0 .7 - 1 6 4 4 .3 1 7 6 9 5 .4 - 6 .4 6 1 6 7 7 .0 2 .6 1 9 .0 - 0 .0 M ar ' 2 0 2 2

37 Jai p u r Vi d yu t Vit ran N ig am 2 3 3 8 8 .4 7 .4 4 3 6 .2 - 1 7 3 2 3 .1 1 2 1 4 6 .9 9 1 .2 1 8 .5 2 .1 1 6 .0 M ar ' 2 0 2 2

38 Cap g em in i Tech n o l o g y Services In d i a 2 3 0 6 5 .0 2 7 .8 2 3 0 2 .4 3 6 .6 1 4 8 0 1 .4 1 6 .9 1 6 0 9 4 .8 1 5 .5 1 8 .3 1 0 .2 1 6 .8 M ar ' 2 0 2 2

39 Per n o d Ricard In d i a 2 3 0 5 5 .3 1 7 .7 1 4 5 9 .1 3 6 .3 3 6 4 8 .9 1 0 .7 3 7 8 5 .6 1 0 .2 9 .8 6 .4 4 2 .0 M ar ' 2 0 2 2

40 IBM In d i a 2 2 8 7 1 .6 - 9 .5 2 4 5 3 .4 2 1 .2 1 1 2 2 2 .5 1 1 .3 1 4 1 4 8 .4 - 3 .6 1 9 .4 1 0 .8 2 3 .0 M ar ' 2 0 2 2

41 Air In d i a 2 2 5 4 2 .1 6 5 .1 - 9 6 2 6 .2 1 5 8 7 8 .7 4 3 0 0 0 .1 9 4 .4 1 2 .6 - 0 .0 M ar ' 2 0 2 2

42 Si n g ar en i Co llieries Co m p an y 2 1 9 2 7 .9 3 5 .6 1 2 6 2 .8 2 4 3 .7 9 8 3 4 .5 1 3 .2 3 9 6 9 2 .5 1 4 .5 2 2 .9 6 .2 1 3 .6 M ar ' 2 0 2 2

43 Ban g al o r e Elect ricit y Su p p l y Co m p an y 2 1 7 5 3 .4 9 .4 - 2 9 1 9 .5 - 8 8 6 .7 1 7 6 3 9 .4 - 8 .1 7 .9 - 0 .0 M ar ' 2 0 2 2

44 A m azo n Seller Services 2 1 6 3 3 .4 3 2 .4 - 3 6 4 9 .2 1 0 2 8 5 .4 9 .8 1 3 3 6 0 .9 1 9 .5 - 6 .0 - 0 .0 M ar ' 2 0 2 2

45 Fiat In d i a A u t o m o b i l es 2 1 5 4 1 .9 3 5 .7 7 5 9 .3 2 0 .5 5 8 2 0 .3 1 5 .0 6 3 7 1 .5 2 .5 7 .6 3 .7 1 4 .0 M ar ' 2 0 2 3

46 Pasch im Gu j ar at Vij Co m p an y 2 1 1 1 1 .3 2 1 .1 9 6 .6 - 4 3 . 9 9 8 7 7 .8 3 .8 1 6 4 1 4 .5 4 .8 8 .3 0 .5 2 .7 M ar ' 2 0 2 2

47 Jo d h p u r Vid yu t Vit ran N ig am 2 0 3 5 0 .4 1 0 .0 - 1 4 6 5 .3 - 2 2 1 5 2 .1 7 3 1 9 .4 1 3 0 .7 1 4 .3 - 0 .0 M ar ' 2 0 2 2

48 GRT Jew el l er s In d i a 2 0 2 7 6 .6 3 0 .5 5 3 3 .0 5 9 .2 2 0 6 0 .1 3 4 .2 8 5 8 5 .8 4 .0 5 .5 2 .8 2 9 .7 M ar ' 2 0 2 2

49 Pu r van ch al Vid yu t Vit ran N ig am 1 9 8 9 8 .1 3 2 .4 - 5 7 8 .0 1 4 8 6 9 .1 1 6 .4 4 0 7 1 0 .5 4 .5 2 7 .1 - 0 .0 M ar ' 2 0 2 2

50 In t as Ph ar m aceu t i cal s 1 9 7 0 2 .4 5 .4 2 4 2 2 .8 - 9 .6 1 7 2 2 6 .5 1 7 .3 1 9 9 5 5 .9 1 0 .3 1 9 .6 1 2 .2 1 5 .2 M ar ' 2 0 2 3

* The j u m p i n r ev en u e is m a i n l y d u e to a n i n cr ease i n t r ad i n g i n FY22

101
UNLISTED COMPANIES

TOTAL REVENUES NETPROFIT NETWORTH TOTAL ASSETS OPM NPM RONW Year
Rank Company Name f crore % chg f crore %chg f crore %chg f crore % chg (%) (%) % ended

51 Raj ast h an Rajya Vid yut Ut p ad an Nigam 1 9 5 9 4 .4 1 6 .3 - 6 2 5 0 .3 - 2 7 3 1 .6 3 8 3 9 4 .2 - 2 3 . 3 2 2 .5 - 0 .0 M ar ' 2023

52 East ern Po w er Dist rib ut io n Co m p any of A P 1 9 4 1 4 .2 2 0 .9 1 9 .7 - 9 5 . 0 - 6 6 8 2 .7 - 1 5 3 4 6 .5 3 7 .5 8 .2 0 .1 4 .5 M ar ' 2023

53 VE Co m m ercial Vehicles 1 9 2 4 9 .8 4 9 .6 5 7 9 .4 4 2 4 .0 4 0 9 6 .2 1 3 .8 4 7 1 2 .7 2 0 .4 7 .9 3 .1 1 5 .1 M ar ' 2023

54 Sko d a Aut o Vo l ksw ag en In d ia 1 9 1 8 5 .8 3 2 .8 3 0 9 .5 4 8 .6 4 9 6 0 .5 1 .8 1 0 0 2 3 .5 6 .1 1 1 .1 1 .8 6 .3 M ar ' 2023

55 Ericsson Ind ia Glo b al Services 1 9 0 3 8 .0 7 2 .2 1 1 1 3 .8 3 9 .1 2 7 8 5 .4 - 1 1 . 7 3 5 0 6 .8 - 5 .7 1 0 .2 6 .3 3 7 .5 M ar ' 2 0 2 3

56 Uttar Gujarat Vij Co m p any 1 8 9 4 1 .2 2 0 .7 3 7 .2 - 5 2 . 3 4 0 6 1 .8 1 3 .8 8 6 4 9 .0 1 1 .9 3 .1 0 .2 1 .0 M ar ' 2 0 2 3

57 Oracle Ind ia 1 8 8 3 1 .4 2 5 .1 1 6 2 6 .5 5 6 .2 3 7 0 5 .7 7 9 .1 5 9 1 4 .8 4 5 .8 1 4 .9 8 .9 4 2 .7 M ar ' 2 0 2 3

58 Daksh in Har yan a Bijli Vit ran Nigam 1 8 5 7 4 .4 1 5 .4 1 7 9 .0 - 2 5 . 3 2 9 5 4 .6 1 3 .0 9 2 9 6 .8 9 .0 5 .5 1 .0 6 .4 M ar ' 2 0 2 2

59 Bh ar at FIH 1 8 3 2 2 .8 1 5 .6 1 9 5 .1 2 0 .5 3 0 3 1 .6 6 .9 3 0 8 7 .1 6 .2 3 .0 1 .1 6 .7 M ar ' 2 0 2 2

60 Aj m er Vid yut Vit ran Nigam 1 8 2 5 9 .5 1 7 .1 5 5 7 .6 2 1 7 . 3 - 1 2 5 3 8 .8 - 1 3 2 4 7 .7 5 3 .1 1 6 .9 3 .5 - 4 .6 M ar ' 2 0 2 2

61 St ar Ind ia 1 8 0 7 4 .6 4 0 .0 1 4 2 1 .3 7 4 .2 1 4 3 8 6 .3 1 1 .1 1 6 5 1 4 .4 1 8 .6 1 4 .1 8 .1 8 .8 M ar ' 2 0 2 2

62 Od isha M in in g Corp 1 7 7 2 4 .4 1 9 8 .9 2 7 3 2 .3 7 2 .2 8 6 2 6 .9 3 4 .9 1 0 1 8 9 .6 5 2 .1 2 3 .8 1 6 .0 3 6 .4 M ar ' 2 0 2 2

63 Daksh in Gujarat Vij Co m p any 1 7 3 9 6 .2 4 0 .3 9 4 .7 - 2 5 . 0 2 8 7 3 .9 1 2 .4 7 6 1 6 .2 1 0 .5 3 .4 0 .6 3 .5 M ar ' 2 0 2 2

64 M P Paschim Kshet ra Vid yut Vit aran 1 7 3 5 1 .8 5 .6 - 2 2 4 4 .0 - 6 1 3 4 .8 1 2 9 2 9 .5 - 1 .9 - 5 .8 - 0 .0 M ar ' 2 0 2 2

65 N uclear Po w er Corp of In d ia 1 7 2 1 0 .7 1 .8 5 1 4 6 .1 - 1 9 . 5 5 5 0 0 4 .6 1 0 .2 1 3 4 0 9 6 .8 1 4 .5 4 8 .3 3 5 .0 8 .5 M ar ' 2 0 2 3

66 Tata Digital 1 7 1 3 0 .6 2 1 7 .1 - 2 6 4 6 .2 8 4 8 0 .4 1 5 4 0 2 .9 8 3 2 .2 - 1 1 .4 - 0 .0 M ar ' 2 0 2 2

67 Tata Project s 1 7 0 5 7 .0 2 4 .0 - 8 5 2 .2 2 7 9 9 .6 3 8 .7 6 6 3 0 .3 1 5 .4 - 1 .6 - 0 .0 M ar ' 2 0 2 3

68 LG Elect ronics In d ia 1 6 7 6 1 .4 9 .3 1 1 7 4 .7 - 2 3 . 2 5 5 0 0 .7 - 1 6 . 5 5 9 0 2 .8 - 1 6 . 0 1 1 .2 7 .0 1 9 .4 M ar ' 2 0 2 2

69 Inf init i Ret ail 1 6 7 3 7 .2 8 2 .4 - 9 5 7 .0 3 8 8 .8 6 4 5 1 .2 7 0 .8 - 2 .5 - 0 .0 M ar ' 2 0 2 3

70 Parle Pro d uct s 1 6 5 6 3 .8 7 .6 2 5 5 .9 - 8 1 . 5 6 2 5 0 .5 3 .8 6 3 7 8 .6 2 .9 3 .2 1 .6 3 .7 M ar ' 2 0 2 2

71 Jo yalu kkas In d ia 1 6 0 6 3 .5 4 6 .2 8 9 9 .3 2 8 .4 3 3 1 8 .0 3 7 .2 5 5 8 1 .8 2 2 .0 1 0 .9 6 .2 3 1 .4 M ar ' 2 0 2 3

72 Jo h n Deere Ind ia 1 6 0 1 9 .2 2 0 .7 1 2 4 7 .5 3 0 .7 6 7 2 2 .3 2 1 .9 1 0 6 6 8 .9 2 .8 1 4 .1 7 .9 2 0 .4 M ar ' 2 0 2 3

73 Sh ell Ind ia M arket s 1 5 8 3 5 .7 2 9 .0 4 1 8 .3 - 1 5 . 1 9 1 8 5 .4 6 .6 1 1 1 9 3 .2 1 1 .2 7 .4 2 .7 4 .6 M ar ' 2 0 2 2

74 Hald ia Pet ro chem icals 1 5 8 1 9 .8 1 3 .6 - 7 0 0 .7 1 2 9 9 8 .7 - 2 .8 2 3 5 8 5 .5 0 .4 6 .5 - 0 .0 M ar ' 2 0 2 3

75 Cargill Ind ia Privat e 1 5 4 6 0 .9 2 8 .7 1 1 1 .0 6 1 .3 1 4 2 5 .4 8 .2 4 0 0 3 .9 2 .4 2 .9 0 .7 7 .9 M ar ' 2022

76 Go d rej & Boyce M an u f act u r in g Co 1 4 9 5 1 .8 1 5 .0 1 1 6 .7 - 6 3 . 3 8 3 0 3 .2 1 .2 1 5 6 4 9 .4 6 .5 6 .3 0 .8 1 .6 M ar ' 2023

77 Parle Biscuit s 1 4 8 4 7 .4 5 .0 1 2 5 .8 - 8 9 . 7 5 7 7 5 .8 4 .3 5 8 4 3 .9 3 .5 2 .0 0 .9 2 .2 M ar ' 2 0 2 2

78 Ho n d a Cars Ind ia 1 4 6 0 0 .8 1 4 .4 1 4 3 1 .0 5 2 1 .5 1 9 1 7 .3 2 9 6 .7 5 2 4 1 .7 4 0 .4 1 2 .7 1 0 .1 4 5 .3 M ar ' 2 0 2 3

79 J P M org an Services In d ia 1 4 2 1 6 .0 2 3 .8 1 3 0 5 .5 1 3 .4 1 2 1 8 2 .5 1 2 .9 1 5 4 3 4 .9 2 6 .4 1 9 .2 9 .3 1 1 .4 M ar ' 2 0 2 2

80 Uttar Har yan a Bijli Vit ran Nigam 1 4 1 7 3 .2 1 2 .7 6 7 0 .0 6 8 .7 1 8 9 0 .9 2 7 .4 9 7 3 1 .6 3 2 .8 1 0 .5 4 .9 4 .1 M ar ' 2 0 2 2

81 M icrosoft Corp Ind ia 1 3 9 2 2 .5 4 6 .9 4 9 8 .2 - 1 3 . 0 6 8 0 2 .3 1 5 9 . 9 1 0 9 1 0 .2 1 5 6 . 3 1 6 .2 3 .6 1 0 .6 M ar ' 2 0 2 2

82 Am al g am at i o n s 1 3 8 1 1 .1 9 .2 1 3 5 5 .2 - 5 .1 1 1 8 7 1 .2 1 2 .4 1 2 4 0 6 .3 1 1 .5 1 0 .2 1 0 .0 6 .7 M ar ' 2 0 2 2

83 RJ Corp 1 3 7 3 7 .1 4 8 .9 9 1 1 .5 2 0 6 1 .0 1 9 3 . 7 9 1 0 8 .8 1 4 .4 2 6 .1 7 .2 8 4 .4 M ar ' 2 0 2 2

84 W ip ro Ent erp rises 1 3 3 4 6 .9 1 8 .0 1 3 1 7 .0 - 3 .3 1 5 1 4 5 .2 9 .9 1 8 2 4 3 .5 8 .9 1 2 .7 1 0 .5 6 .1 M ar ' 2 0 2 2

85 Sim p so n & Co m p any 1 3 3 0 6 .2 8 .8 1 6 9 1 .5 - 5 .1 1 1 6 0 3 .8 1 2 .5 1 2 1 3 3 .3 1 1 .7 1 0 .3 1 2 .9 1 3 .8 M ar ' 2 0 2 2

86 Nokia So lut io ns & N et wo rk In d ia 1 3 1 4 6 .4 1 0 .6 7 9 3 .7 4 4 .4 5 7 4 3 .6 1 6 .4 6 6 8 4 .6 1 4 .5 1 1 .0 6 .1 1 4 .9 M ar ' 2 0 2 2

87 Am azo n Web Services Ind ia 1 2 8 9 8 .6 4 3 .6 6 1 .1 1 6 3 2 .4 3 3 .5 1 8 0 2 .9 2 9 .0 1 .9 0 .5 4 .3 M ar ' 2 0 2 3

88 Afcons Infrast ruct ure 1 2 8 4 4 .1 1 4 .0 4 1 0 .9 1 5 .3 2 7 2 5 .7 2 0 .5 6 9 5 0 .6 3 .2 1 2 .0 3 .3 1 6 .5 M ar ' 2 0 2 3

89 Tata Sia Airlines 1 2 4 9 7 .4 1 2 6 .4 - 1 3 9 3 .3 5 0 2 .0 - 5 9 . 8 1 7 7 4 1 .0 4 4 .3 6 .2 - 0 .0 M ar ' 2 0 2 3

90 Gridco 1 2 4 7 1 .4 1 6 .7 - 4 1 2 .7 - 4 9 9 8 .4 2 7 4 8 .8 - 1 6 . 1 0 .8 - 0 .0 M ar ' 2 0 2 3

91 An d h r a Prad esh Po w er Generat io n Corp 1 2 4 5 4 .0 1 1 .4 - 4 4 8 .2 3 0 2 6 .7 - 6 .8 4 5 0 3 7 .7 - 5 .6 2 8 .8 - - 2 3 .6 M ar ' 2 0 2 2

92 Posco M ah arash t ra St eel 1 2 4 2 7 .4 8 8 .6 7 4 7 .0 1 6 8 . 3 3 0 4 1 .1 3 2 .6 4 5 7 4 .6 9 .8 1 4 .3 6 .4 2 0 .7 M ar ' 2 0 2 2

93 M ot her Dairy Fruit & Veg et ab les 1 2 3 1 2 .5 1 3 .7 9 9 .7 - 4 6 . 4 5 1 4 .3 1 5 .2 1 2 0 1 .1 - 2 1 . 5 2 .5 0 .8 2 0 .8 M ar ' 2 0 2 2

94 Het ero Labs 1 2 2 3 2 .6 - 0 .3 1 0 1 1 .8 - 2 2 . 3 7 5 3 7 .1 1 5 .0 1 2 1 9 9 .9 5 .9 1 6 .4 8 .5 1 4 .0 M ar ' 2 0 2 2

95 Gujarat St at e Elect ricit y Corp 1 1 9 2 9 .8 1 7 .8 2 8 3 .0 1 .5 1 0 0 4 5 .0 1 5 .1 1 0 7 7 4 .5 1 0 .7 1 3 .3 2 .5 1 .3 M ar ' 2 0 2 2

96 N irm a 1 1 9 2 0 .6 3 0 .1 9 0 9 .3 1 5 6 . 6 9 1 9 3 .4 1 3 .3 1 2 7 0 7 .4 6 .6 1 8 .8 8 .0 1 0 .5 M ar ' 2 0 2 3

97 JCB In d ia 1 1 8 2 2 .4 0 .2 1 1 3 7 .9 - 2 0 . 6 3 8 0 3 .9 4 2 .5 4 0 1 3 .5 4 1 .5 1 4 .8 9 .7 3 5 .2 M ar ' 2 0 2 2

98 M ylan Lab orat ories 1 1 7 6 3 .1 - 5 .6 4 8 0 .3 - 2 5 . 3 9 5 0 9 .3 4 .1 1 4 2 2 3 .9 - 4 .8 1 6 .6 4 .5 5 .2 M ar ' 2 0 2 3

99 Int el Techno lo g y In d ia 1 1 5 9 4 .6 3 2 .4 1 3 5 6 .1 5 1 .0 5 2 1 7 .5 2 4 .2 6 1 9 4 .7 1 0 .4 2 2 .9 1 1 .8 2 8 .8 M ar ' 2 0 2 2

100 M obis In d ia 1 1 3 1 0 .6 2 3 .0 9 2 2 .6 6 3 .1 3 8 6 0 .3 3 1 .7 3 9 3 0 .2 3 0 .4 1 2 .6 8 .3 2 7 .2 M ar ' 2 0 2 2

1 f )~ ) Businei
I U Z M arc
 TOTAL REVENUES NET PROFIT NETWORTH TOTAL ASSETS OPM NPM RONW Year
Rank Company Name ~ Crore % chg ~ Crore %ch g ~ Crore %ch g ~ Crore % chg (%) (%) % Ended

101 Qw i k Su p p l y Chain 1 1 2 3 3 .5 9 .3 2 1 .7 - 9 .4 1 3 1 .2 1 9 .8 2 3 1 .2 - 7 6 . 1 0 .8 0 .2 1 8 .1 M ar' 2022

102 Hub li Elect ricit y Su p p l y Co m p an y 1 1 2 2 0 .1 2 3 .2 - 8 3 6 .2 - 2 7 3 6 .5 6 6 6 6 .0 2 .1 8 .6 - 0 .0 M ar' 2023

103 Su g u n a Fo o d s 1 1 1 0 5 .3 - 0 .4 - 3 5 4 .0 9 2 2 .6 - 2 0 . 4 3 2 1 1 .4 0 .8 - 1 .9 - - 3 4 .0 M ar' 2023

104 Gem i n i Ed ib les & Fats In d i a 1 1 1 0 0 .1 1 .3 4 5 0 .4 - 4 0 . 5 2 2 3 4 .2 4 .8 7 7 5 6 .1 1 6 8 .6 8 .1 4 .0 2 0 .6 M ar' 2023

105 Delo it t e Co nsult ing In d i a 1 0 9 9 0 .6 4 2 .0 1 0 2 4 .2 3 9 .0 4 4 0 6 .9 2 7 .3 6 7 0 2 .5 3 0 .6 2 2 .4 9 .4 2 6 .0 M ar ' 2 0 2 2

106 Su m m i t Digitel In f rast ru ct u re 1 0 9 8 9 .2 1 2 .2 - 3 1 9 0 .9 - 1 1 6 4 6 .1 4 5 6 0 0 .4 1 1 .4 4 0 .1 - 0 .0 M ar ' 2 0 2 3

107 Hari Kr i sh n a Exp o r t s 1 0 9 5 5 .4 - 1 5 . 0 4 2 2 .8 - 2 1 . 4 2 5 6 5 .5 1 6 .7 4 2 9 8 .8 4 .0 7 .2 4 .0 1 7 .8 M ar ' 2 0 2 3

108 Ser u m Inst it ut e o f In d i a 1 0 9 5 3 .0 - 5 9 . 1 4 1 8 7 .0 - 6 2 . 3 3 6 9 0 2 .0 1 2 .1 3 7 5 8 1 .0 1 1 .7 6 0 .6 4 1 .1 1 2 .0 M ar ' 2 0 2 3

109 Dai m l er In d i a Co m m ercial Vehicles 1 0 7 4 9 .5 2 5 .0 3 0 3 .8 3 1 3 9 .7 1 0 .7 3 6 3 7 .7 1 4 .4 6 .9 2 .8 4 .5 M ar ' 2 0 2 3

110 Orissa M et aliks 1 0 7 0 7 .0 - 1 6 . 3 1 2 0 3 .6 - 1 4 . 7 5 3 0 1 .0 3 3 .5 7 3 7 7 .0 2 5 .3 1 1 .5 1 1 .1 2 6 .0 M ar ' 2 0 2 3

111 D o w Chem ical In t er n at i o n al 1 0 6 3 7 .3 5 2 .6 3 5 7 .7 - 3 3 . 4 1 4 8 2 .2 - 0 .2 1 5 4 3 .6 - 0 .6 5 .9 3 .5 2 4 .1 M ar ' 2 0 2 2

112 M icrosoft In d i a (R& D) 1 0 5 8 9 .8 4 4 .7 9 6 4 .4 1 0 9 .8 3 8 2 0 .5 3 2 .7 4 9 2 2 .1 3 3 .9 2 3 .2 9 .4 2 8 .7 M ar ' 2 0 2 2

113 Sch n ei d er Elect ric In d i a 1 0 5 8 8 .6 6 0 .5 5 7 0 .9 9 4 3 .6 9 1 5 3 .7 7 .4 1 5 0 5 9 .1 4 .5 1 8 .9 5 .5 6 .5 M ar ' 2 0 2 2

114 In st akar t Services 1 0 5 2 8 .5 5 7 .1 - 1 9 6 9 .2 2 3 1 6 .3 2 6 7 .5 4 8 9 0 .3 9 9 .2 - 6 .3 - 0 .0 M ar ' 2 0 2 2

115 W est Ben g al Po w er Devp . Co rp n. 1 0 3 5 5 .4 8 .4 2 8 9 .2 - 4 9 . 2 9 6 0 7 .0 3 .2 2 8 5 0 3 .8 9 .6 2 0 .9 3 .0 4 .2 M ar ' 2 0 2 2

116 Ren au l t N issan Au t o m o t i ve In d i a 1 0 3 3 3 .9 3 6 .9 - 7 7 .7 5 7 1 5 .4 - 0 .5 6 8 0 6 .6 - 0 .1 1 0 .2 - 0 .0 M ar ' 2 0 2 2

117 Ben n et t , Co lem an & Co m p an y 1 0 0 8 9 .6 2 4 .7 5 6 .0 - 9 0 . 2 1 2 7 2 2 .7 - 1 .8 1 3 6 8 9 .1 - 1 .2 1 .5 0 .6 3 .4 M ar ' 2 0 2 3

Ven k at esh w ar a Hat cheries 9 9 8 5 .5 - 1 .2 - 2 0 8 .7 1 1 7 9 .6 - 1 7 . 3 3 5 6 5 .0 - 8 .2 0 .3 - - 1 9 .7 M ar ' 2 0 2 3

8

119 SEIL En erg y In d i a 9 8 1 1 .3 - 3 .6 6 2 1 .4 - 7 7 . 3 1 1 7 0 6 .1 5 .5 1 8 4 3 6 .6 - 6 .0 2 3 .8 6 .6 5 .5 M ar ' 2 0 2 3

120 MCPI 9 7 7 1 .4 9 7 .5 6 2 6 .4 2 4 5 .3 4 4 9 6 .7 - 4 .0 6 3 9 5 .8 2 .1 1 2 .1 6 .7 8 .1 M ar ' 2 0 2 2

121 Ford In d i a 9 6 8 9 .7 - 3 2 . 9 5 0 0 .0 1 5 6 7 .9 4 6 .9 3 6 7 8 .9 0 .4 8 .9 7 .1 1 .7 M ar ' 2 0 2 3

122 Gen p act In d i a 9 6 1 7 .6 2 2 .9 4 6 1 .3 7 0 6 7 .7 7 .0 1 1 0 0 1 .9 - 4 .3 2 7 .6 5 .0 6 .8 M ar ' 2 0 2 2

123 Kar n at ak a Po w er Corp 9 5 9 8 .3 2 3 .5 - 7 4 0 .3 7 6 1 8 .2 - 9 .6 4 1 5 7 6 .3 - 0 .1 5 0 .7 - - 1 .4 M ar ' 2 0 2 2

124 Su p er m ar k et Gro cery Su p p l i es 9 5 7 8 .6 1 1 .2 - 1 7 8 5 .4 2 2 0 2 .9 1 2 .0 3 3 2 8 .7 1 3 .5 - 1 3 .4 - 0 .0 M ar ' 2 0 2 3

125 Ap p l e In d i a 9 5 3 5 .9 4 5 .7 2 2 2 9 .7 7 6 .5 3 6 4 3 .6 2 4 .1 5 8 2 5 .1 4 3 .1 6 .7 4 .5 6 7 .8 M ar' 2023

126 In t er n at i o n al Tract ors 9 5 2 4 .2 1 4 .2 1 3 3 5 .1 1 7 .0 8 5 0 6 .9 1 7 .1 8 7 7 4 .0 1 7 .2 1 8 .4 1 4 .9 1 4 .5 M ar' 2023

127 Go o g le In d i a 9 4 3 9 .3 4 7 .8 1 2 3 8 .9 5 3 .3 6 3 0 9 .4 2 4 .2 6 7 5 2 .1 2 3 .2 2 5 .4 1 3 .3 2 1 .8 M ar ' 2 0 2 2

128 M o n d el ez In d i a Fo o d s 9 4 1 0 .5 1 6 .3 9 7 8 .6 - 2 .3 1 0 6 3 .8 - 5 4 . 6 1 6 7 1 .5 - 4 4 . 2 2 0 .7 1 0 .6 5 7 .5 M ar ' 2 0 2 2

129 H exaw ar e Tech n o lo g ies 9 3 7 8 .8 2 9 .5 8 8 4 .2 1 8 .1 4 1 2 3 .0 8 .8 4 7 0 9 .0 1 0 .3 1 5 .3 9 .6 2 2 .4 Dec' 2022

130 ATCTeleco m In f rast ru ct u re 9 3 4 5 .6 6 .9 6 3 9 .4 4 2 .5 8 2 0 7 .6 8 .5 2 2 3 0 4 .1 2 .3 4 8 .8 7 .1 8 .1 M ar ' 2 0 2 2

131 Bh i l o sa In d u st r i es 9 3 2 6 .2 7 1 .8 9 5 5 .8 5 6 .3 4 6 0 6 .9 2 6 .2 6 1 1 0 .9 1 5 .8 1 9 .7 1 0 .5 2 3 .2 M ar ' 2 0 2 2

132 In d i a Yam ah a M ot or 9 2 6 1 .2 3 1 .2 4 7 5 .3 1 1 3 8 .1 2 5 4 8 .3 2 3 .0 2 7 2 9 .5 1 .3 1 2 .0 5 .2 2 0 .4 Dec' 2022

133 Barclays Glo b al Service Cent re 9 1 0 0 .3 2 7 .7 8 0 9 .4 3 6 .9 8 0 2 .6 1 5 .8 3 0 8 4 .2 9 .3 1 8 .0 9 .0 1 0 8 .2 M ar ' 2 0 2 3

134 H i n d u st an Co ca- Co la Beverag es 9 0 6 8 .0 2 9 .3 3 7 7 .2 4 3 1 .6 5 3 0 3 .8 7 .8 5 4 4 9 .4 6 .9 1 3 .0 4 .2 8 .9 M ar ' 2 0 2 2

135 Ren au l t In d i a 9 0 0 9 .7 2 3 .0 4 0 3 .9 2 1 .6 1 3 0 8 .0 4 4 .6 1 4 3 1 .9 - 0 .4 5 .2 4 .8 7 .6 M ar ' 2 0 2 3

136 Viraj Pro files 8 9 6 8 .2 7 .4 2 4 9 .5 - 4 5 . 9 2 2 4 1 .6 9 .1 3 3 1 5 .1 5 .0 7 .1 2 .8 1 1 .6 M ar ' 2 0 2 3

137 Reckit t Ben ckiser (I) 8 9 2 1 .7 5 .1 2 1 3 1 .9 1 8 .2 2 5 9 7 .5 - 2 4 . 8 2 6 8 2 .3 - 2 4 . 4 3 6 .5 2 5 .6 7 0 .5 M ar ' 2 0 2 2

138 Tract ors & Farm Eq u i p m en t 8 8 8 3 .0 1 6 .1 1 0 8 8 .4 3 6 .7 8 7 0 6 .7 1 2 .8 8 8 2 4 .4 1 2 .9 1 8 .4 1 3 .5 1 3 .3 M ar ' 2 0 2 3

139 H SBCSo f t w ar e D evel o p m en t In d i a 8 7 9 1 .5 2 3 .5 1 0 3 6 .6 4 2 .1 1 9 8 0 .0 7 .0 2 1 7 8 .9 - 1 .5 1 9 .2 1 1 .9 5 4 .1 M ar ' 2 0 2 2

140 Bh ar at Bio t ech In t er n at i o n al 8 7 7 0 .5 4 5 7 .7 2 8 9 5 .9 5 8 6 .8 4 0 3 4 .0 2 5 5 .0 5 7 2 9 .2 1 8 1 . 0 6 3 .3 3 5 .7 1 1 2 .0 M ar ' 2 0 2 2

141 H ar yan a Po w er Gen er at i o n Corp 8 7 1 7 .6 1 1 8 . 7 6 6 4 .4 2 1 2 .2 3 8 7 5 .0 1 .5 7 1 2 9 .9 3 .4 1 1 .2 7 .8 1 1 .4 M ar ' 2 0 2 3

142 Ji n d al In d i a Th er m al Po w er 8 7 1 0 .1 3 0 6 .8 5 1 3 1 .1 3 0 1 5 .2 6 5 9 5 .9 8 6 .0 3 6 .7 1 8 5 .3 8 3 .8 M ar ' 2 0 2 2

143 Cat erp illar In d i a 8 5 9 9 .1 8 1 .9 5 4 7 .3 7 5 .1 5 6 1 6 .2 7 .4 5 8 1 2 .1 6 .2 1 2 .1 7 .2 1 0 .1 M ar ' 2 0 2 2

144 W i st r o n In f o co m m M an u f act u r i n g In d i a 8 5 0 8 .7 5 8 9 .6 - 1 1 2 .1 4 7 7 .5 - 1 9 . 0 1 7 9 1 .6 - 1 7 . 1 1 .1 - - 2 1 .0 Dec' 2021

145 M acleo d s Ph ar m aceu t i cal s 8 4 9 2 .6 4 .1 1 2 2 9 .5 - 3 9 . 2 5 0 3 2 .4 3 2 .5 5 3 5 0 .9 3 0 .4 2 2 .8 1 5 .0 2 9 .2 M ar ' 2 0 2 2

146 Sh ah i Exp o rt s 8 3 7 2 .0 4 2 .8 4 6 0 .7 1 3 .3 3 9 1 8 .0 1 7 .9 6 0 4 1 .7 3 1 .1 1 0 .8 5 .8 1 2 .7 M ar ' 2 0 2 2

147 Pep sico In d i a Ho ld in g s 8 3 5 0 .2 2 8 .2 2 6 7 .8 5 4 3 .3 3 4 9 6 .7 9 .2 4 0 7 2 .8 1 2 .5 9 .3 3 .3 6 .2 M ar ' 2 0 2 3

148 Pat an j al i A yu r ved 8 3 2 6 .7 - 2 4 . 5 5 7 8 .4 - 2 1 . 9 7 8 6 2 .6 8 .3 1 1 2 5 3 .7 3 .9 1 4 .3 7 .7 7 .7 M ar ' 2 0 2 3

149 A l l an aso n s 8 3 0 4 .2 1 6 .7 1 6 0 .4 - 4 8 . 6 1 3 6 9 .8 1 3 .3 1 3 8 0 .8 1 3 .3 2 .9 2 .0 1 2 .4 M ar ' 2 0 2 2

150 Assam Po w er Dist rib ut io n Co m p an y 8 1 7 1 .3 1 4 .2 3 3 6 .4 3 9 5 0 .2 4 7 .2 1 3 1 5 4 .2 7 .9 1 0 .4 5 .2 2 .9 M ar ' 2 0 2 2

103
UNLISTED COMPANIES [11000
TOTAL REVENUES NET PROFIT NET WORTH TOTAL ASSETS OPM NPM RONW Year
Rank Company Name f crore % chg f crore %chg f crore %chg f crore % chg (%) (%) % ended

151 M ad h ya Gujarat Vij Co m p any 7 9 9 1 .7 2 1 .3 1 0 3 .5 8 4 .3 2 5 3 9 .1 1 1 .4 5 6 9 6 .8 9 .9 5 .9 1 .3 4 .3 M ar ' 2022

152 Abis Exp o rt s In d ia 7 8 9 8 .5 2 8 .9 4 0 9 .3 - 3 5 . 4 1 6 2 2 .4 3 4 .1 2 7 0 5 .6 3 9 .8 9 .0 5 .3 2 8 .6 M ar ' 2022

153 Thriveni Eart h m o vers 7 8 8 8 .0 1 9 .2 2 0 0 .1 2 4 2 5 .7 2 5 .5 4 5 3 7 .9 1 9 .0 1 1 .1 2 .6 8 .4 M ar ' 2022

154 W aaree Energies 7 8 6 7 .3 1 7 2 . 5 4 8 2 .8 5 3 8 .3 1 8 3 8 .4 3 2 9 .9 2 5 5 5 .7 2 0 6 .8 1 3 .7 7 .2 4 4 .2 M ar ' 2023

155 Wells Fargo In t ern at io n al So lut io ns 7 8 5 3 .7 4 2 .9 1 1 3 6 .2 3 6 .9 4 6 6 9 .1 3 1 .9 5 7 5 9 .2 3 9 .8 2 2 .7 1 4 .8 2 7 .7 M ar ' 2 0 2 2

156 BA Co nt inuum Ind ia 7 8 4 8 .3 2 4 .1 8 8 8 .3 2 5 .3 5 1 0 4 .8 2 0 .5 7 4 4 7 .8 1 9 .9 2 2 .3 1 1 .7 1 9 .0 M ar ' 2 0 2 3

157 Jab il Circuit Ind ia 7 8 4 1 .7 9 0 .8 4 2 0 .2 4 3 .1 1 6 3 8 .6 3 4 .4 2 1 7 5 .0 6 4 .5 9 .2 5 .4 2 9 .4 M ar ' 2 0 2 3

158 HSBC Elect ro nic Data Processing In d ia 7 8 0 8 .4 2 6 .2 9 2 9 .7 3 0 .7 2 2 7 0 .2 3 2 .8 2 6 6 0 .0 2 9 .9 2 1 .2 1 2 .0 4 6 .7 M ar ' 2 0 2 3

159 Sai n t - Go b ai n Ind ia 7 7 1 2 .1 5 0 .2 9 0 3 .7 6 0 .0 6 6 5 8 .3 1 3 .5 6 8 2 9 .7 1 1 .5 2 1 .8 1 2 .1 1 4 .4 M ar ' 2 0 2 2

160 Him ach al Prad esh St at e Elect ricit y Bo ard 7 7 0 0 .1 1 2 .4 - 1 0 3 .7 - 9 6 5 .3 8 7 4 4 .0 5 .4 1 2 .7 - 0 .0 M ar ' 2 0 2 2

161 Airp ort s Aut ho rit y of Ind ia 7 6 7 7 .8 4 5 .5 8 .8 1 2 2 4 6 .4 - 4 .8 2 2 4 2 2 .1 - 1 1 . 2 1 7 .3 0 .1 - 7 .0 M ar ' 2 0 2 2

162 BASF Cat alyst s Ind ia 7 6 3 9 .4 4 1 .4 3 0 3 .7 3 7 1 . 7 7 6 1 .5 4 5 .5 2 6 6 0 .5 1 4 .9 7 .1 4 .0 4 7 .3 M ar ' 2 0 2 2

163 Sikka Ports & Term in als 7 6 2 8 .2 6 .4 1 2 9 6 .7 - 3 3 . 7 2 4 7 5 1 .1 2 9 .4 5 2 5 5 2 .5 1 9 .1 1 2 2 .1 2 8 .3 5 .4 M ar ' 2 0 2 3

164 In n o vat ive Ret ail Concepts 7 5 4 6 .4 6 .4 - 1 5 3 5 .2 - 1 4 8 .0 8 6 0 .6 7 2 .6 - 1 4 .7 - 0 .0 M ar ' 2 0 2 3

165 Bosch Glo b al So f t w are Techno lo g ies 7 4 7 5 .0 2 1 .2 7 6 7 .8 1 6 .9 3 2 3 4 .1 5 .2 3 7 0 6 .4 1 .5 1 9 .3 1 0 .4 2 4 .3 M ar ' 2 0 2 2

166 Ut t ar akh an d Po w er Corp 7 4 6 9 .1 1 4 .2 - 2 1 .4 1 7 7 .6 4 9 .1 1 9 4 0 .1 - 1 4 . 2 8 .1 M ar ' 2 0 2 2

167 Daikin Airco nd it io ning In d ia 7 3 9 6 .8 4 8 .6 3 0 6 .2 3 2 .5 2 7 2 4 .5 4 1 .9 3 0 8 9 .9 4 2 .9 8 .8 4 .5 1 3 .2 M ar ' 2 0 2 3

168 Solar Energ y Corp o f Ind ia 7 3 6 9 .9 3 3 .6 2 9 9 .9 3 0 .4 2 3 3 7 .9 1 1 3 . 7 3 3 3 6 .5 1 0 1 .8 4 .6 4 .1 1 4 .3 M ar ' 2 0 2 2

169 M an jeet Cotton 7 3 2 5 .5 8 .3 1 2 6 .0 2 5 .3 5 0 5 .2 3 3 .6 1 1 8 6 .8 1 7 .9 3 .3 1 .8 2 8 .6 M ar ' 2 0 2 2

170 Lalit p ur Po wer Generat io n Co 7 3 1 0 .7 2 0 .1 3 2 0 .1 2 3 .0 6 5 7 3 .1 5 .4 1 8 0 5 8 .6 - 7 .3 3 9 .4 4 .8 4 .3 M ar ' 2 0 2 3

171 Ab b o t t Healt hcare 7 1 7 4 .3 1 7 .3 5 3 8 .7 8 6 4 1 .9 6 .5 1 0 3 0 5 .3 1 .5 1 6 .7 7 .6 4 .0 M ar ' 2 0 2 2

172 Suzuki M o t o rcyle In d ia 7 1 6 1 .6 3 6 .1 3 6 9 .7 5 7 3 1 .7 2 3 6 7 .6 1 8 .5 2 3 9 4 .2 1 7 .8 8 .8 5 .3 1 6 .9 M ar ' 2 0 2 3

173 Allied Blen d ers & Dist illers 7 1 4 4 .0 - 1 .0 1 .6 7 .4 4 0 6 .1 0 .5 1 2 1 6 .5 - 4 .9 2 .8 0 .0 0 .4 M ar ' 2 0 2 3

174 Oppo M o b iles In d ia 7 1 0 6 .5 3 4 .2 - 4 6 .7 - 3 6 9 6 .0 1 6 6 1 .0 7 .0 0 .6 - 0 .0 M ar ' 2 0 2 2

175 Zoho Corp 6 9 9 8 .8 2 8 .5 2 7 4 8 .7 4 3 .3 8 5 7 1 .5 5 3 .0 8 8 2 1 .2 5 3 .0 5 6 .8 4 1 .0 3 8 .8 M ar ' 2022

176 Brakes In d ia 6 9 8 2 .6 2 7 .9 5 1 5 .5 4 6 .7 2 5 9 7 .2 1 7 .7 3 5 8 1 .3 - 7 .2 1 3 .3 7 .5 1 8 .8 M ar ' 2023

177 Culver M ax En t er t ai n m en t 6 9 1 2 .0 0 .6 1 0 4 2 .2 1 1 .2 8 2 8 5 .6 1 4 .7 8 3 4 5 .9 1 3 .9 2 3 .6 1 5 .6 1 5 .3 M ar ' 2 0 2 3

178 Opt um Glo b al So lut io ns (In d i a) 6 8 6 4 .8 3 2 .2 8 4 7 .8 1 1 4 .6 2 0 2 2 .8 1 6 .6 2 4 9 3 .4 1 6 .3 2 3 .2 1 2 .6 4 5 .1 M ar ' 2 0 2 3

179 IVL Dhunseri Pet ro chem Ind ust ries 6 8 4 2 .8 1 3 .0 3 6 4 .3 1 1 .1 1 3 7 5 .2 1 6 .4 1 5 5 7 .0 - 0 .6 8 .2 5 .2 2 8 .5 M ar ' 2 0 2 3

180 Tata Cum m ins 6 8 2 2 .1 3 1 .8 4 6 0 .2 4 9 .5 1 4 7 2 .8 - 1 .0 2 7 5 3 .9 - 1 .2 1 1 .6 6 .8 3 1 .1 M ar ' 2 0 2 3

181 Frigerio Conserva Al l an a 6 8 0 3 .4 1 9 7 . 3 2 7 7 .6 5 7 .5 2 3 9 2 .4 1 .8 2 4 0 4 .6 0 .6 6 .0 4 .1 1 1 .7 M ar ' 2 0 2 2

182 Jam n ag ar Ut ilit ies & Po wer 6 7 9 1 .0 7 .5 1 1 9 2 .6 - 4 1 . 3 2 6 1 5 0 .0 3 1 .0 4 3 8 5 9 .6 1 1 .9 1 1 0 .8 2 5 .2 5 .2 M ar ' 2 0 2 3

183 M erced es- Ben z Ind ia 6 7 8 9 .4 9 3 .0 4 4 1 .4 3 0 6 2 .9 1 6 .9 4 2 1 1 .4 6 .0 1 3 .6 7 .1 1 5 .5 M ar ' 2 0 2 2

184 RSPL 6 7 6 6 .7 3 .9 5 6 1 .6 - 1 3 . 9 3 8 2 6 .9 1 3 .0 5 7 8 7 .3 2 .8 1 9 .3 8 .4 1 5 .6 M ar ' 2 0 2 3

185 Citicorp Services In d ia 6 7 1 3 .4 2 2 .8 8 1 5 .0 9 .9 3 6 9 7 .6 2 2 .4 4 8 5 9 .5 2 2 .0 2 0 .2 1 2 .3 2 4 .3 M ar ' 2 0 2 2

186 Ap raava Energy 6 6 7 4 .2 4 2 .6 1 2 3 3 .5 8 3 9 .2 9 3 9 0 .8 1 5 .3 1 6 4 3 5 .3 1 8 .9 4 0 .3 2 2 .3 1 0 .8 M ar ' 2 0 2 3

187 Belrise Ind ust ries 6 6 6 6 .6 2 2 .8 3 0 9 .7 1 7 .7 2 0 4 1 .8 1 7 .6 4 4 8 6 .4 0 .6 1 3 .8 4 .7 1 6 .4 M ar ' 2 0 2 3

188 Deccan Fine Chem icals Ind ia 6 6 6 6 .1 5 1 .3 9 7 8 .3 4 7 .8 2 9 8 4 .6 4 0 .8 6 4 7 4 .0 3 8 .7 2 8 .4 1 5 .4 3 8 .3 M ar ' 2 0 2 2

vO

Herb alife In t ern at io n al Ind ia 6 6 2 9 .9 3 2 .2 7 6 7 .0 1 7 .7 2 1 3 .2 4 .9 2 4 3 .4 8 .9 1 6 .3 1 1 .7 3 6 8 .4 M ar ' 2 0 2 3

8

190 Procter & Gam b l e Ho m e Pro d uct s 6 6 2 4 .5 5 .5 2 7 6 .9 - 4 2 . 6 3 5 5 6 .4 - 1 4 . 0 3 8 0 5 .5 - 1 2 . 8 1 1 .9 4 .2 7 .9 M ar ' 2 0 2 2

191 Go l d m an Sachs Services 6 5 4 6 .6 1 6 .5 5 8 7 .7 1 8 .7 2 7 7 4 .2 1 0 .6 5 7 5 8 .5 7 .1 2 2 .2 9 .2 2 2 .3 M ar ' 2 0 2 3

192 BM W Ind ia 6 5 3 3 .7 5 5 .5 2 0 4 .3 2 3 8 .0 8 2 0 .3 3 3 .3 2 1 3 0 .9 1 .4 6 .9 3 .4 2 8 .6 M ar ' 2 0 2 3

193 Wip ro GE Healt hcare 6 5 0 2 .9 2 8 .0 4 3 1 .4 5 6 .3 2 0 9 4 .5 2 6 .0 2 6 0 4 .6 2 5 .3 1 0 .9 6 .8 2 3 .0 M ar ' 2 0 2 2

194 Cum m ins Techno lo g ies Ind ia 6 4 8 4 .4 2 7 .9 6 3 6 .5 1 5 .1 3 2 5 5 .7 - 4 .4 4 4 3 1 .5 0 .2 1 9 .8 1 0 .3 1 9 .1 M ar ' 2 0 2 2

195 Apco Infrat ech 6 4 4 0 .8 1 2 .1 6 5 6 .7 1 6 .3 2 1 0 8 .5 5 0 .5 5 9 7 8 .3 4 4 .8 2 1 .3 1 0 .6 3 7 .4 M ar ' 2 0 2 2

196 CNH In d u st rial (In d i a) 6 4 3 1 .7 2 2 .6 5 5 0 .8 4 9 .6 4 1 8 7 .1 1 3 .8 6 1 0 7 .7 1 6 .5 1 5 .5 8 .9 1 4 .0 Dec ' 2 0 2 2

197 Asian Colour Coated Ispat 6 4 2 1 .4 3 9 .3 4 5 .4 - 3 0 3 4 .5 1 7 2 8 .2 0 .7 9 .9 0 .7 - 4 .3 M ar ' 2 0 2 2

CO

DBG Techno lo g y Ind ia 6 3 1 5 .2 - 2 2 . 7 6 3 .4 - 5 9 . 6 2 5 8 .8 2 0 .1 4 7 8 .3 - 2 5 . 8 2 .3 1 .0 2 6 .7 M ar ' 2 0 2 3

9

199 Rung t a M ines 6 2 8 7 .3 1 6 .4 3 2 0 .9 - 6 2 . 6 1 3 9 5 6 .3 2 .5 1 5 4 1 6 .8 9 .3 1 3 .8 5 .7 2 .3 M ar ' 2 0 2 2

200 Ericsson Ind ia 6 2 7 6 .9 - 1 0 . 2 3 2 7 .3 - 2 2 . 9 2 2 0 1 .0 1 7 .5 2 3 2 5 .6 1 5 .6 8 .7 5 .3 1 6 .1 M ar ' 2 0 2 2

104 Business Standard

M arch 202 4
 [21000
TOTAL REVENUES NET PROFIT NET WORTH TOTAL ASSETS OPM NPM RONW Year
Rank Company Name f crore % chg f crore %ch g f crore %ch g f crore % chg (%) (%) % ended

201 ADM Ag ro In d u st r i es In d i a 6 2 5 8 .6 5 4 .4 1 3 9 .4 2 3 6 .0 5 9 .1 - 3 5 4 .9 3 0 .7 2 .9 2 .4 4 2 .2 M ar' 2022

202 Neel M et al Pro d uct s 6 2 1 7 .3 1 6 .2 3 3 3 .8 3 1 .3 1 6 3 1 .0 3 2 .0 3 2 5 8 .3 1 6 .7 1 0 .3 5 .5 1 8 .4 M ar' 2023

203 Virt usa Co nsult ing Services 6 2 0 9 .9 2 6 .0 4 9 9 .5 1 2 6 .1 1 6 1 3 .1 1 7 .0 2 7 0 7 .9 - 5.7 1 5 .9 8 .1 3 3 .4 M ar' 2022

204 In d i an Po t ash 6 1 2 9 .5 2 8 .7 1 8 7 4 .4 1 5 .9 8 2 3 9 .8 3 4 .5 1 2 2 9 6 .2 4 .7 1 0 .3 5 .6 2 6 .1 M ar' 2023

205 Bu n d l Tech n o lo g ies 6 1 2 7 .3 1 2 9 . 5 - 3 6 2 8 .9 - 3 2 9 5 .6 1 2 7 2 1 .9 4 6 8 .6 - 5 9 .7 - 0 .0 M ar ' 2 0 2 2

206 Lava In t er n at i o n al 6 0 0 1 .8 6 .2 1 8 6 .9 8 .3 2 2 9 0 .6 4 3 .9 2 6 3 2 .0 5 3 .4 5 .9 3 .2 9 .6 M ar ' 2 0 2 2

207 Cars24 Services 5 9 9 2 .3 8 6 .8 - 2 4 8 .1 1 2 8 2 .9 1 0 .3 2 2 4 9 .4 7 0 .1 - 2 .5 - 0 .0 M ar ' 2 0 2 2

208 Em cu r e Ph ar m aceu t i cal s 5 9 6 5 .0 - 1 .6 5 6 1 .9 - 2 0 . 0 2 5 0 1 .1 2 5 .8 4 9 1 6 .7 1 4 .6 2 0 .4 9 .4 2 5 .0 M ar ' 2 0 2 3

209 Sap Lab s In d i a 5 9 0 0 .4 1 6 .7 4 7 2 .4 - 0 .2 2 0 0 7 .4 1 0 .5 2 7 5 6 .3 9 .9 1 5 .2 8 .1 2 4 .7 M ar ' 2 0 2 2

210 Sh ell Energ y In d i a 5 8 9 8 .2 9 1 .9 9 2 .3 - 8 5 . 5 1 8 3 6 .0 5 .3 1 8 9 4 .1 5 .4 3 .7 1 .6 5 .2 M ar ' 2 0 2 3

211 Ph i l i p s In d i a 5 8 6 2 .1 0 .1 2 6 0 .0 - 2 .2 1 2 3 4 .3 - 4 5 . 8 1 7 5 9 .8 - 3 7 . 9 8 .3 4 .5 1 4 .8 M ar ' 2 0 2 3

212 SAP In d i a 5 8 3 2 .3 3 .1 8 0 2 .3 - 4 .7 2 8 5 0 .6 1 .1 3 0 0 7 .4 1 .0 2 1 .1 1 4 .2 2 8 .3 M ar ' 2 0 2 2

213 M ah ad h an Ag rit ech 5 7 8 3 .9 5 1 .1 4 4 4 .0 1 2 1 .6 3 2 8 3 .6 1 5 .6 5 2 4 0 .0 2 3 .6 1 8 .2 8 .0 1 4 .5 M ar ' 2 0 2 2

214 Frigorifco A l l an a 5 7 7 0 .8 - 5 .9 3 3 .8 - 8 0 . 8 1 8 4 8 .9 - 1 6 . 3 1 9 2 4 .4 - 1 5 . 5 1 .9 0 .6 1 .7 M ar ' 2 0 2 3

215 WNS Glo b al Services 5 7 1 8 .6 1 8 .3 6 7 4 .3 2 2 .8 4 3 7 5 .1 2 6 .2 5 5 2 7 .8 1 4 .9 2 2 .2 1 2 .0 1 7 .7 M ar ' 2 0 2 2

216 DHL Logist ics 5 6 9 1 .1 7 0 .6 4 0 7 .7 1 1 8 .5 1 3 2 0 .5 4 4 .9 1 3 5 0 .5 4 0 .7 1 0 .3 7 .2 3 6 .5 M ar ' 2 0 2 2

217 D i n esh ch an d r a R Ag r aw al In f r aco n 5 6 8 6 .3 4 4 .2 3 4 4 .4 4 5 .7 1 3 5 0 .3 3 3 .7 2 0 4 5 .3 1 7 .1 9 .4 6 .0 2 9 .2 M ar ' 2 0 2 3

218 Kal eesu w ar i Ref i n er y 5 6 7 6 .6 2 0 .1 2 8 3 .5 - 3 1 . 5 8 9 5 .0 1 2 .8 1 0 0 7 .9 8 .8 8 .2 5 .1 3 3 .6 M ar ' 2 0 2 2

219 Exp ed it o rs In t er n at i o n al In d i a 5 6 7 2 .4 8 3 .7 2 4 0 .6 9 4 .9 2 9 9 .6 6 2 .0 3 8 8 .2 5 2 .7 5 .8 4 .2 9 9 .3 M ar ' 2 0 2 2

220 Or avel St ays 5 6 1 8 .8 1 0 .1 - 1 1 7 1 .9 1 5 9 1 .1 - 3 2 . 8 6 9 6 1 .2 - 4.7 - 2 .1 - 0 .0 M ar ' 2 0 2 3

221 Jo h n Dist illeries 5 5 8 6 .7 2 2 .9 2 9 .6 8 7 .3 2 8 5 .4 5 9 .5 5 9 9 .5 3 0 .7 1 .7 0 .5 1 0 .9 M ar ' 2 0 2 2

222 BILT Gr ap h i c Pap er Pro d u ct s 5 5 8 0 .9 4 6 .1 1 2 7 8 .2 2 1 7 .0 - 3 1 8 .1 - 4 3 9 4 .7 0 .6 3 2 .9 2 5 .6 4 1 .8 M ar ' 2 0 2 3

223 Jo n es Lang Lasalle Pro p ert y Co nsult 5 5 5 6 .4 2 8 .3 2 8 3 .3 6 1 .4 1 5 7 7 .3 2 0 .7 1 9 6 3 .2 2 2 .0 9 .0 5 .2 1 9 .7 M ar ' 2 0 2 3

224 W e l l k n o w n Po lyest ers 5 5 5 0 .6 8 1 .4 4 5 6 .1 1 8 7 .3 2 5 8 7 .4 1 2 .3 3 4 1 7 .1 - 2.1 1 4 .9 8 .5 1 8 .7 M ar ' 2 0 2 2

225 So vereig n M et als 5 5 3 4 .1 1 4 .9 7 .5 1 4 6 . 1 6 8 .2 1 2 .4 1 2 9 .2 - 1 7 . 6 0 .5 0 .1 9 .3 M ar' 2022

226 Fair Exp o rt s In d i a 5 5 1 0 .7 3 1 .4 1 7 1 .8 5 .9 8 0 3 .0 2 7 .4 1 6 4 5 .0 3 9 .7 5 .3 3 .2 2 4 .0 M ar' 2022

227 D h ar am p al Sat yap al 5 4 9 6 .0 3 3 .7 5 8 0 .9 - 4 .3 4 5 9 8 .5 1 0 .3 6 7 0 2 .4 1 0 .4 1 9 .7 1 1 .3 1 2 .9 M ar ' 2 0 2 3

228 ATC Tires 5 4 9 0 .9 4 9 .5 4 9 2 .4 - 1 8 . 7 3 5 4 3 .4 1 4 .2 5 2 9 7 .5 3 7 .2 1 7 .3 9 .1 1 4 .8 M ar ' 2 0 2 2

229 M ah en d r a Bro t h ers Exp o rt s 5 4 1 7 .6 9 1 .3 2 2 7 .9 1 3 9 . 4 9 8 2 .1 2 1 .5 2 0 5 5 .1 2 3 .1 7 .9 4 .5 2 3 .3 M ar ' 2 0 2 2

230 Jh aj j ar Po w er 5 4 1 3 .8 5 6 .7 9 2 0 .7 1 0 6 4 .6 6 9 2 .7 5 8 3 8 .8 2 8 .0 2 5 .4 2 1 .6 9 0 .9 M ar ' 2 0 2 3

231 Toyot a Tsusho In d i a 5 3 9 4 .5 6 4 .0 9 8 .5 5 1 3 .1 2 3 .6 1 4 7 0 .8 4 0 .1 4 .2 1 .9 1 7 .8 M ar ' 2 0 2 2

232 Vm w ar e So f t w ar e In d i a 5 3 7 0 .8 2 9 .2 5 1 6 .5 3 3 .5 2 2 1 4 .2 2 6 .4 4 3 5 6 .0 3 1 .4 1 9 .8 9 .8 2 6 .1 M ar ' 2 0 2 2

233 Pr em i u m Chick Feed s 5 3 3 3 .7 4 8 .7 2 8 .2 - 7 8 . 3 1 6 6 .6 2 0 .3 4 8 4 .4 1 9 .0 1 .7 0 .5 1 8 .5 M ar ' 2 0 2 2

234 M icro Labs 5 3 2 7 .5 1 0 .4 1 3 5 1 .2 1 5 .8 5 6 6 5 .7 2 0 .2 6 3 9 1 .4 1 4 .9 2 7 .4 2 6 .1 2 5 .8 M ar ' 2 0 2 2

235 H al d i r am Sn acks 5 3 2 7 .2 2 3 .4 3 4 0 .8 - 9 .8 3 0 1 6 .8 2 6 .7 3 2 2 4 .9 1 5 .9 1 3 .3 6 .6 1 2 .6 M ar ' 2 0 2 2

236 Syn g en t a In d i a 5 3 2 1 .8 1 2 .3 5 8 3 .2 - 1 6 . 2 2 9 3 0 .5 - 3 0 . 6 3 0 4 2 .1 - 2 9 . 1 1 8 .5 1 2 .4 1 6 .3 M ar ' 2 0 2 2

237 M ad h ya Prad esh Po w er Tr an sm i ssi o n Co 5 2 9 9 .3 1 0 .5 1 0 7 2 .3 8 9 6 4 .0 3 5 3 5 .4 5 .0 1 1 9 5 4 .1 1 7 .1 2 9 .7 2 4 .1 7 .6 M ar ' 2 0 2 2

238 Jaq u ar & Co m p an y 5 2 7 2 .2 5 4 .1 5 0 0 .4 7 3 .2 2 6 4 5 .1 2 4 .0 2 9 3 4 .6 2 2 .8 1 5 .6 9 .9 2 0 .9 M ar ' 2 0 2 2

239 Zet w er k M an u f act u r i n g Bu si n esses 5 2 6 3 .9 4 9 1 . 9 - 5 9 .8 3 7 9 0 .0 1 9 7 .5 4 5 5 5 .3 2 3 4 .1 1 .2 - 0 .0 M ar ' 2 0 2 2

240 A m azo n Dat a Services In d i a 5 2 3 2 .2 4 6 .7 5 1 2 .6 5 6 .9 1 9 0 7 6 .5 6 5 .8 2 1 7 7 5 .3 6 4 .0 6 7 .5 1 0 .0 3 .4 M ar ' 2 0 2 3

241 KRIBHCO Fert ilisers 5 2 1 1 .7 6 1 .0 2 2 1 .9 1 7 6 . 8 7 2 9 .4 3 7 .0 1 4 5 9 .9 - 2 5 . 1 7 .2 4 .3 3 5 .2 M ar ' 2 0 2 3

242 M ah ar ash t r a St at e Elect ricit y Tr an sm i ssi o n 5 2 0 4 .1 4 .3 9 5 5 .4 - 1 1 . 0 1 3 2 3 7 .5 7 .5 2 2 0 8 6 .9 3 .3 5 7 .5 1 9 .6 7 .5 M ar ' 2 0 2 2

243 Ko n k an Rai l w ay Corp 5 1 6 3 .5 5 3 .4 2 7 8 .6 - 2 2 9 9 .7 6 0 5 2 .1 3 .6 1 2 .6 5 .5 - 3 4 . 1 M ar ' 2 0 2 3

244 DHL Exp ress In d i a 5 1 6 2 .4 4 5 .7 1 6 6 .2 2 9 .5 1 2 4 6 .4 1 5 .8 1 4 9 4 .9 1 7 .4 6 .8 3 .2 1 4 .3 M ar ' 2 0 2 2

245 Jo h n so n M at t h ey In d i a 5 1 5 2 .9 1 7 .7 2 1 8 .5 6 3 .7 1 6 1 6 .4 2 .1 6 .9 4 .2 - 4 7 9 .7 M ar ' 2 0 2 2

246 Ri m j h i m Isp at 5 1 2 3 .7 6 7 .9 2 7 4 .5 1 1 9 . 1 7 7 4 .9 5 6 .0 1 3 5 3 .8 7 3 .9 7 .0 5 .5 4 3 .2 M ar ' 2 0 2 2

247 EITSer vi ces In d i a 5 0 9 4 .1 - 3 .9 4 7 7 .9 - 2 .3 1 5 7 4 .3 1 1 .3 2 7 7 5 .7 9 .7 1 8 .8 9 .5 3 2 .0 M ar ' 2 0 2 2

248 Alst o m Tran sp o rt In d i a 5 0 8 7 .4 2 7 .4 2 3 3 .3 1 3 .7 2 0 4 0 .5 1 3 .9 2 9 3 8 .2 1 7 .8 8 .8 4 .7 9 .2 M ar ' 2 0 2 2

249 Laxm i D i am o n d 5 0 6 4 .2 8 5 .5 1 0 2 .3 6 9 .3 9 2 2 .3 1 2 .3 1 5 5 2 .0 1 5 .9 3 .9 2 .2 1 1 .7 M ar ' 2 0 2 2

250 LifeSt yle In t er n at i o n al 4 9 9 9 .0 3 8 .7 7 0 0 .0 1 6 0 .2 1 9 3 8 .9 4 2 .8 6 5 1 4 .9 2 3 .3 1 9 .4 6 .0 4 2 .5 M ar ' 2 0 2 3

105
ALPHABETICAL INDEX RNKA
[11000
RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company revenues profit wort h assets rank Company revenues profit wort h assets rank Company revenues profit wort h assets rank
20 Microns 999 763 869 936 566 Asahi India Glas 335 286 335 316 485 Bhartiya Intl. 908 703 814 760 981

3i Infotech 911 884 748 819 858 Ashapura M inech. 576 562 692 531 845 Bikaji Foods 586 528 573 677 2 78

3M India 337 246 384 524 12 Ashiana Housing 997 808 650 717 826 Bilcare 739 850 953 659 992

Aarti Drugs 454 468 499 508 480 Ashok Leyland 40 109 139 48 868 Biocon 129 240 69 46 776

Aarti Industries 226 208 172 175 5 19 Ashoka Buildcon 181 283 416 105 905 Birla Cable 924 797 894 941 72 1

Aarti Pharma 568 428 408 521 406 Asian Granito 663 932 488 582 954 Birla Corpn. 162 771 165 125 6 76

A BB 160 133 170 249 10 Asian Paints 49 35 56 82 27 Birlasoft Ltd 301 307 294 392 37

Abbott India 266 143 240 323 35 Asian Star Co. 305 646 439 461 368 Black Box 229 826 865 696 6 14

ACC 80 177 64 100 284 ASK Automotive 476 543 702 720 239 Bliss GVS Pharma 968 679 605 721 70 2

Accuracy Shippi. 884 873 934 971 648 Assoc.Alcohols 989 765 831 920 6 16 BLS Internat. 664 415 646 790 65

Action Const.Eq. 531 462 583 743 57 Aster DM Health. 123 260 219 134 628 Blue Dart Expres 277 285 504 422 226

Adani Energy Sol 106 107 88 40 8 18 Astra Microwave 907 681 703 755 74 5 Blue Jet Health 952 475 685 845 235

Adani Enterp. 50 50 36 22 660 Astral 278 244 292 369 86 Blue Star 179 269 462 466 18 7

Adani Green 169 138 123 34 806 Astrazeneca Phar 810 604 721 876 92 Bodal Chemicals 669 780 520 502 777

Adani Ports 71 29 25 19 649 Atul 265 217 181 261 79 Bombay Burmah 85 992 315 136 5 17

Adani Power 42 11 33 27 689 Aurobindo Pharma 64 67 39 55 253 Bombay Dyeing 580 978 984 410 929

Adani Total Gas 320 207 260 273 343 Automotive Axles 510 474 652 804 96 Borosil 801 633 607 725 367

Adani Wilmar 32 204 110 130 259 Automotive Stamp 910 872 959 995 710 Borosil Renew. 857 683 589 622 927

Aditya Bir. Fas. 115 920 231 123 75 9 Avadh Sugar 458 600 592 482 633 Bosch 100 92 86 127 31

Ador Welding 926 712 847 946 303 Avalon Tech 854 731 750 761 860 Brigade Enterpr. 306 338 232 174 78 9

Aegis Logistics 761 239 250 231 848 Avanti Feeds 279 343 369 454 20 Britannia Inds. 91 55 225 203 13 9

Aether Industri. 978 525 483 641 8 19 Avenue Super. 39 54 55 87 40 Butterfly GanAp 837 733 871 960 18 3

Affle India 678 373 430 547 457 AXISCADES Tech. 913 896 841 844 852 Camlin Fine 621 732 660 552 928

Agarwal Indl. 569 625 800 895 266 AYM Syntex 685 876 793 834 605 Campus Activewe. 651 561 739 757 4 72

AGI Greenpac 517 358 396 418 489 B.L.Kashyap 784 831 784 767 926 Capacit'e Infra. 620 615 521 553 78 6

Agro Tech Foods. 901 848 766 899 483 Bajaj Auto 44 25 35 57 17 Caplin Point Lab 656 281 392 492 286

AGS Transact 632 785 751 518 946 Bajaj Consumer 847 505 633 796 3 18 Caprihans India 804 675 969 653 995

Ahluwalia Contr. 427 426 490 612 99 Bajaj Electrical 263 402 358 460 98 Carborundum Uni. 299 262 276 339 12 9

AIA Engineering 283 129 153 211 19 8 Bajaj Healthcare 996 759 827 807 967 Castrol India 298 160 360 483 18

Ajanta Pharma 355 203 228 321 77 Bajaj Hindusthan 236 945 187 161 857 CCL Products 565 349 428 411 592

Akzo Nobel 354 304 467 579 24 Balaji Amines 500 313 446 555 12 0 CEAT 136 444 227 219 294

Alembic Pharma 262 300 191 239 268 Balkrishna Inds 150 128 116 132 285 Cello World 835 354 924 668 75 2

Alicon Cast. 702 734 765 801 664 Balmer Lawrie 504 460 389 495 322 Centum Electron 869 867 899 902 716

Alkem Lab 135 136 104 133 18 5 Balrampur Chini 303 341 261 260 493 Century Enka 564 629 464 603 236

Alkyl Amines 635 392 506 637 16 2 Banco Products 477 384 551 597 531 Century Plyboard 362 276 357 435 114

Allcargo Gati 624 900 746 732 74 3 Bannari Amm Spg. 687 916 822 703 9 71 Century Textiles 289 346 216 230 534

Allcargo Logist. 81 192 286 290 91 Bannari Amm.Sug. 484 492 411 451 4 10 Cera Sanitary. 598 406 507 640 174

Allcargo Termi 988 718 908 868 867 Banswara Syntex 660 575 756 762 76 2 CESC 98 97 91 56 76 9

Alok Industries 221 983 997 236 821 Barbeque-Nation 753 844 812 689 869 CG Power & Indu. 207 140 375 500 66

Amara Raja Ener. 146 179 158 225 29 BASF India 114 267 275 364 8 Chalet Hotels 758 450 413 271 930

Amber Enterp. 210 478 364 322 4 76 Bata India 370 315 438 378 4 14 Chamanlal Setia 689 560 753 827 432

Ambika Cotton 841 576 619 786 6 19 Bayer Crop Sci. 273 170 273 360 41 Chambal Fert. 61 132 126 138 119

Ambuja Cements 56 62 40 54 4 74 BCL Industries 601 693 775 745 692 ChemplastSanmar 290 483 861 356 6 74

Anant Raj 842 486 269 286 906 Bedmutha Indus. 962 856 941 939 840 CPCL 26 38 137 135 12 8

Andhra Cements 832 142 833 764 9 79 Beekay Steel Ind 793 587 622 697 465 CIE Automotive 164 946 163 208 2 12

Andhra Paper 551 214 402 548 222 BEML Ltd 351 476 298 314 394 Cigniti Tech. 642 465 720 851 243

Andhra Petrochem 991 834 759 880 855 Berger Paints 143 154 185 220 10 4 Cipla 70 47 45 68 117

Andhra Sugars 499 445 435 541 2 17 Best Agrolife 605 432 755 688 832 Clean Science 852 335 547 713 18 2

Ankit M et.Power 935 936 978 973 79 0 BF Utilities 941 536 971 572 965 CMS Info Systems 594 333 406 528 234

Antony Waste han 890 686 834 747 931 BGR Energy Sys. 900 976 925 446 988 Coal India 16 4 17 15 255

Anupam Rasayan 637 454 320 342 78 8 Bhagyanagar Ind 603 865 921 940 8 17 Cochin Shipyard 470 326 186 245 3 14

Apar Inds. 108 189 321 385 52 Bhansali Engg. 726 509 525 694 19 1 Coffee Day Enter 791 971 248 244 9 76

Apcotex Industri 798 583 772 861 324 Bharat Bijlee 662 644 453 543 638 Coforge 187 180 253 302 71

Apex Frozen Food 820 789 764 883 436 Bharat Dynamics 465 294 237 204 340 Colgate-Palmoliv 274 130 382 512 3

APL Apollo Tubes 93 186 251 289 70 Bharat Electron 76 43 66 98 62 Cams Services 845 339 636 736 300

Apollo Hospitals 95 159 146 128 446 Bharat Forge 120 212 133 97 580 Concord Biotech 880 377 473 628 327

Apollo Pipes 861 825 780 909 401 BharatGears 937 853 930 965 714 Confidence Petro 506 623 669 611 8 16

Apollo Tyres 65 125 73 74 4 19 BH EL 67 231 38 45 620 Container Corpn. 170 117 84 115 19 4

Archean Chemical 666 277 440 578 533 BPCL 4 59 20 16 298 Coromandel Inter 58 65 115 167 38

Artemis Medicare 965 779 842 838 72 5 Bharat Rasayan 742 534 590 746 16 9 Cosmo First 407 374 471 426 523

Arvind Ltd 175 266 235 251 385 BharatSeats 819 832 922 977 308 Craftsman Auto 393 369 466 388 5 18

Arvind Fashions. 541 786 667 427 889 Bharti Airtel 17 22 23 4 72 2 Creative Newtech 714 819 938 979 668

i n £ Bu si n e UI
I U U M arc

'WE PROUDLY OPERATE THE LARGEST SELF-
OWNED SCHOOL CHAIN IN WEST BENGAL'
Aditya School of Sports, under his guidance, reshaped professional sports training in the region
A
graduate from University of
Wales, Cardiff, UK, Anirban
had to take over the charge of
Aditya Group perhaps much earlier
than one could have ever anticipated.
Taking over the responsibility of
running close to one thousand families
at a crisis situation, and at the young
age of 26 years was never going
to be easy. However, Anirban turned
this disadvantage (to many) into his
strength and lead the Group from
front and took it out of its immediate
crisis. Oncethe Groupfound steady
and firm groundsthere has been no
looking back. What Anirban brought
to the organisation was his international
exposure and freshness of thoughts
together with his zeal to turn aspirations
to reality. Continuing with his father's
legacy within this short time frame
he ensures that the Group expands
exponentially. It is his vision that the
Group has now gone international,
gone global.
Anirban Aditya, Chairman of Aditya
Group, has revolutionized Education,
Sports, and Hospitality with his
entrepreneurial zeal and humanitarian
values. His vision of integrating
sports training into school curriculums
birthed the edusports model, inspiring
industry-wide adoption. Leading Kreamz,
he propelled it to Bengal's fastest-
growing confectionery chain in two
years. Aditya School of Sports, under
his guidance, reshaped professional
sports training in the region. Anirban,
driven by his father's legacy of service
and foresight, embodies resilience and
inspiration. His recent appointment
as Chairman of the ICC National Expert
Committee on Sports cements his
authority in sports administration
and development, highlighting his
commitment to advancing the field.
Anirban Aditya's multifaceted contributions
underscore his status as a transformative
figure, propelling industries forward
while championing humanitarian principles. yutrponmihdaYWUTSRPONIGEDCBA
ABOUT ADITYA GROUP
Since 1984, Aditya Group has epitomized
ANIRBAN ADITYA,
Chairman, Aditya Group
Anirban Aditya,
Chairman of Aditya
Group, has revolutionized
Education, Sports, and
Hospitality with his
entrepreneurial zeal
and humanitarian values
innovation in Bengal's corporate sphere, Together, let's continue to leave an
spanning' ReaT Estate, 'Hospitality,'
Education, and culinary excellence
through Kreamz. Guided by late founder
— ADVERTORIAL YWUT
AWARDS &
ACCREDITATION
Anirban Aditya is now Chairman of
ICC Sports Committee
Aditya Group & Mr. Anirban Aditya'
made the selection for one of
"India's Greatest Brands & Leaders
2017-18 Process Reviewers
PwC PL."
• Asia One- Greatest Brands &
Leaders 2017-18.
• Asia One- 40 Under 40 Most
Influential Leaders 2018-2019-
Asia&GCC.
• Mother Teresa International
award for the youngest
successful entrepreneur.
• Bengal's fastest-growing
confectionery chain in two
years.
Mr. Bhaskar Aditya and now led by
Mr. Anirban Aditya and Mr. Ankit Aditya,
our journey is marked by philanthropy
and business prowess.
We proudly operate the largest self-
owned school chain in West Bengal,
the Aditya Academy Group of Schools,
comprising 5 senior and 8 junior schools,
nurturing over 10,000 students with the
support of 400+ teachers & support
staff.Within justtwoyears, Kreamz has
established 125+stores across Bengal,
becoming a frontrunner in the confectionery
market. Additionally, our Aditya School
of Sports (ASOS) stands as the premier
Edusports provider in the entire eastern
region.
As we venture into new territories
with upcoming projects like Cloud Kitchen
Services and the nationwide expansion
of Kreamz, we invite you to join us in
embracing ambition and excellence.
indelible mark on Bengal's corporate
landscape - together, let's embrace
Aditya Group.
ALPHABETICAL INDEX RNKA

RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company revenues profit worth assets rank Company revenues profit wort h assets rank Company revenues profit worth assets rank
Crompton Or. Con 213 238 327 304 2 77 Epigral 522 292 524 485 520 GMR Urban 193 116 988 213 863

Cummins India 177 111 151 209 74 EPL Ltd 359 395 346 362 359 GNA Axles 652 526 674 749 405

Cyient 244 216 226 250 338 ERIS Lifescience 636 278 331 348 536 Go Fashion (I) 954 645 754 770 825

Cyient DLM 915 799 907 884 8 15 Eros Intl.Media 953 939 545 576 921 Goa Carbon 699 652 912 875 925

D B Corp 545 463 350 434 380 Esab India 796 512 883 964 44 GOCL Corpn. 701 404 447 330 9 75

D P Wires 765 767 909 981 118 Escorts Kubota 166 190 109 169 288 Godawari Power 253 163 214 279 112

Dabur India 125 73 106 141 15 7 Essar Shipping 610 77 991 999 74 8 Godfrey Phillips 350 181 223 297 19 3

Dalmia BharatLtd 116 131 57 76 4 71 Ester Industries 750 508 662 558 949 Godrej Agrovet 155 329 354 305 2 72

Dalmia Bharat 406 368 274 340 339 Ethos Ltd 885 708 711 821 844 Godrej Consumer 121 75 67 96 19 6

Damodar Indust. 980 890 935 933 884 Eureka Forbes 575 814 201 274 76 6 Godrej Industrie 69 137 387 63 945

Datamatics Glob. 676 441 528 685 244 Eveready Inds. 728 810 850 828 78 2 Godrej Propert. 180 205 99 91 8 76

DCM Nouvelle 887 862 855 881 75 8 Everest Inds. 628 761 725 843 463 Gokaldas Exports 554 458 595 702 309

DCM Shriram 127 149 143 172 15 6 Everest Kanto 731 664 552 672 522 Goodluck India 402 637 713 648 567

DCM Shriram Inds 509 709 671 634 5 15 Excel Industries 800 655 485 642 354 Goodricke Group 883 893 856 934 568

DCW 441 433 544 562 546 Exide Inds. 101 158 85 119 16 0 Goodyear India 424 544 718 859 47

DCX Systems 698 674 733 693 9 16 Expleo Solutions 873 516 752 889 334 GP Petroleums 945 818 877 957 585

DDev Plastiks 482 593 762 897 13 5 FDC 612 425 347 470 262 GPT Infraproject 919 800 875 888 76 3

Deccan Cements 923 742 682 729 74 7 Federal-Mogul Go 643 598 587 711 265 Granules India 315 215 262 292 329

Deepak Fertiliz. 130 113 169 160 5 71 FACT 220 197 480 327 456 Graphite India 356 419 167 235 5 76

Deepak Nitrite 184 156 202 283 32 Fiem Industries 611 501 649 798 16 7 Grasim Inds 19 24 30 6 947

Delhivery 200 986 100 142 78 4 Filatex India 328 632 516 591 209 Grauer & Weil 799 574 689 822 2 18

Delta Corp 792 359 325 430 70 3 Fine Organic 386 196 414 565 11 Gravita India 422 414 728 731 254

Den Networks 756 375 244 328 772 Finolex Cables 308 220 192 272 12 1 GE Shipping Co 239 49 93 102 431

Devyani Intl. 414 355 564 397 665 Finolex Inds. 323 366 173 229 352 Greaves Cotton 440 660 495 551 508

Dhampur Bio 540 579 558 509 6 18 Firstsour.Solu. 241 218 230 259 362 Greenlam Industr 574 529 567 556 541

Dhampur Sugar 516 477 534 513 545 Flair Writing 859 558 788 891 357 Greenpanel Inds. 616 361 498 594 260

Dhanuka Agritech 625 386 527 684 14 9 Flexituff Vent. 886 940 960 879 9 70 Greenply Industr 597 627 701 624 73 6

DIC India 881 768 792 924 347 Foods & Inns 802 750 854 856 888 Grindwell Norton 471 287 374 494 10 3

DigiSpice Tech. 821 908 893 951 564 Forbes & Co 950 434 895 955 421 GRM Overseas 677 702 879 847 828

Dilip Buildcon 139 887 204 129 72 3 Force Motors 269 517 362 366 258 GTL Infra. 680 995 994 996 598

Dish TV India 519 993 975 1000 6 75 Fortis Health. 224 202 138 144 642 GTPL Hathway 455 573 554 633 2 71

Dishman Carbogen 479 917 148 166 936 FSN E-Commerce 271 839 458 421 506 Gufic BioScience 983 656 836 836 896

Divi's Lab. 186 69 74 112 83 GM D C 346 112 149 205 18 9 Gujarat Alkalies 313 265 144 200 3 12

Dixon Technolog. 124 362 475 522 76 GN FC 144 87 102 143 116 Guj. Ambuja Exp 287 308 296 379 94

DLF 247 64 28 44 6 11 G R Infraproject 154 88 140 117 76 4 Gujarat Fluoroch 240 99 154 194 337

Dodla Dairy 437 549 566 712 84 Gabriel India 417 520 599 758 34 GujaratGas 92 83 127 188 1

Dollar Industrie 743 730 676 763 4 18 GAIL (India) 14 27 14 25 225 Guj Inds. Power 709 442 245 296 6 10

Doms Industries 764 614 849 914 295 Galaxy Surfact. 322 280 361 441 69 Guj Pipavav Port 848 322 310 405 680

Donear Inds. 894 787 917 898 952 Gallantt Ispat L 341 500 323 371 464 GSFC 132 106 80 114 15 5

Dr Lal Pathlabs 572 381 394 459 353 Gandhar Oil Ref. 336 436 680 734 248 Guj.St.Petronet 79 78 141 145 85

Dr Reddy's Labs 63 32 44 67 72 Ganesh Housing 994 602 535 680 775 Gulf Oil Lubric. 408 389 505 569 240

Dreamfolks Servi 940 672 919 987 111 Ganesha Ecosphe. 766 684 707 662 899 Gulshan Polyols 772 754 729 784 801

Dredging Corpn. 778 861 441 532 6 17 Garden Reach Sh. 447 393 443 506 10 8 GVK Power Infra. 268 51 990 256 900

Dwarikesh Sugar 596 589 664 671 440 Garware Hi Tech 686 469 365 475 407 HT Media 609 958 436 380 9 78

Dynacons Sys. 946 795 939 985 5 79 Garware Tech. 733 459 546 664 302 H.G. Infra Engg. 310 225 356 300 79 8

Dynamatic Tech. 727 760 745 626 883 Gateway Distri 693 378 376 424 715 Happiest Minds 692 390 608 602 643

Eastern Logica 995 881 949 990 887 GE Power 599 972 892 830 659 Happy Forgings 771 408 559 651 451

eClerx Services 456 226 383 481 14 2 GET& D India 433 894 522 589 420 Harsha Engg Intl 711 542 523 639 5 77

Eicher Motors 102 44 61 90 75 Genus Paper & Bo 958 901 776 809 938 Hathway Cable 585 697 198 281 6 78

EID Parry 47 144 280 180 409 Genus Power 896 807 562 596 72 9 Hatsun Agro 208 470 437 332 3 75

EIH 550 320 236 310 502 GHCL 307 119 208 276 2 16 Havells India 83 127 134 196 16

EKI Energy 703 555 760 808 336 Gillette India 486 291 557 687 28 Hawkins Cookers 838 618 878 950 14 6

Elecon Engg.Co 659 383 476 620 200 Ginni Filaments 862 905 873 901 76 7 Haz.Multi Proj. 943 753 945 992 639

Electronics Mart 260 547 501 389 655 Gland Pharma 347 166 112 179 306 HBL Power System 712 607 575 704 325

Electrost.Cast. 201 319 190 192 644 Glaxosmi. Pharma 389 198 378 474 64 HCL Technologies 23 9 12 29 25

Electrotherm(I) 409 902 981 753 8 13 Glenmark Life 525 236 332 449 333 Health.Global 631 804 604 511 8 72

Elgi Equipments 392 284 454 480 2 74 Glenmark Pharma. 117 332 101 99 5 78 HEG 412 210 195 248 551

Elin Electronics 809 812 763 887 490 Global Health 446 312 297 311 5 74 Heidelberg Cem. 521 606 432 545 422

Emami 375 188 312 406 54 Globus Spirits 553 550 594 655 391 Heranba Inds 722 590 621 752 603

Emami Paper 513 685 781 561 944 Gloster Ltd 973 723 518 661 820 Heritage Foods 378 716 668 748 4 13

Endurance Tech. 163 230 188 242 46 GMM Pfaudler 394 467 631 465 6 12 Hero Motocorp 51 46 54 86 14

Engineers India 372 298 349 478 297 GMR Airports Inf 197 950 989 50 9 17 Heubach Colorant 956 840 789 927 223

1 0 8 M arc
 21000
RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company RNKA Revenues Profit wort h Assets Rank Company Revenues Profit wo rt h Assets Rank Company Revenues Profit wort h Assets Rank
HFCL 296 330 247 288 556 Interglobe Aviat 33 964 996 39 584 Kaveri Seed Co. 795 347 460 608 246

Hikal 577 659 512 486 5 75 IOL Chemicals 528 506 421 560 342 Kaynes Tech 769 616 572 682 74 0

Hil Ltd 373 610 484 538 3 11 ION Exchange 579 422 611 744 18 6 KDDL Ltd 763 727 901 832 805

Himadri Special 332 403 314 349 525 Ipca Labs. 235 235 150 187 293 KEI Industries 217 232 282 372 53

Himatsing. Seide 478 930 434 268 948 IRB Infra.Devl. 223 175 68 47 895 Kellton Tech 872 942 826 904 6 73

Hindalco Inds. 9 17 6 12 328 Ircon Intl. 142 168 160 168 544 Kennametal India 822 572 700 857 14 1

Hinduja Global 286 306 108 146 600 IRM Energy 850 701 845 842 800 Kesoram Inds. 348 952 774 399 861

Hind.Aeronautics 59 26 42 51 13 2 ISGEC Heavy 242 423 326 303 467 Kewal Kir.Cloth. 898 557 742 871 363

Hind.Construct. 149 915 973 202 898 ISMT 473 638 472 566 462 Keystone Realtor 823 648 388 365 841

Hindustan Copper 623 334 338 432 398 ITC 27 6 11 30 59 KFin Technolog. 974 424 600 708 70 6

Hindustan Foods 472 678 824 759 521 ITD Cem 281 538 489 467 427 Khaitan Chemical 867 762 868 907 865

Hindustan Media 931 922 429 563 75 1 ITI 682 969 303 265 908 KIC Metaliks 939 841 916 958 601

H PCL 5 999 31 18 581 J BChem & Pharm 401 264 289 352 250 Kingfa Science 708 650 777 908 428

Hind. Unilever 29 16 22 36 282 J K Cements 152 259 178 137 5 72 KIOCL 646 935 345 386 718

Hindustan Zinc 48 13 72 66 19 2 J Kumar Infra 331 345 307 357 509 Kiri Industries 785 586 277 374 591

Hind.Natl.Glass 487 959 980 635 934 Jagran Prakashan 584 418 405 443 606 Kirl. Brothers 358 385 449 515 14 5

Hindware Home In 582 719 732 559 74 6 Jai Balaji Inds. 237 717 738 590 429 Kirl. Ferrous 228 272 503 350 358

Hitachi Energy 312 621 492 571 18 4 Jain Irrigation 196 157 164 154 907 Kirloskar Oil 285 305 311 226 886

Hi-Tech Pipes 496 782 794 840 4 11 JP Associates 202 990 983 65 966 Kirl.Pneumatic 767 582 629 795 207

HLE Glascoat 868 682 844 865 78 0 JP Power Ven. 251 722 90 92 842 KKV Agro Powers 762 886 955 998 558

HMAAgro Inds. 396 554 782 787 269 Jamna Auto Inds. 503 464 635 777 56 KNR Construct. 333 242 265 320 247

Honasa Consumer 814 947 982 835 8 75 Jay Bharat M aru. 508 781 757 774 365 Kokuyo Camlin 928 821 882 952 586

Honda India 748 642 665 823 87 Jay Shree Tea 866 923 897 864 968 Kolte Patil Dev. 670 596 536 537 73 4

Honeywell Auto 366 254 241 334 97 Jay Ushin 959 854 942 975 685 Kovai Medical 828 567 670 644 651

HPL Electric 749 801 632 598 932 Jayant Agro Org. 439 741 771 878 19 7 KPIT Technologi. 376 279 391 433 2 19

Huhtamaki India 420 740 654 657 346 Jayaswal Neco 233 394 340 232 79 6 KRBL 245 178 179 253 434

IG Petrochems 502 416 487 580 305 JBM Auto 349 537 540 373 530 Krishna Institu. 532 302 448 415 623

I RCTC 361 134 290 375 89 Jindal Poly Film 270 316 196 158 962 Kriti Industries 992 911 928 967 637

IFBAgro Inds. 740 743 741 886 230 Jindal Saw 82 191 105 110 369 Kriti Nutrients 927 833 926 986 349

IFB Industries 272 851 694 679 355 Jindal Stain. 46 61 81 89 15 4 KSB 591 452 510 654 15 8

IFGL Refractori. 704 657 549 663 73 7 Jindal Steel 36 42 26 38 287 KSE 647 895 900 970 12 6

Incredible Indus 961 879 929 984 6 13 Jindal Worldwide 549 568 698 581 524 Kuantum Papers 736 511 569 574 653

India Cements 252 943 159 149 893 JITF Infra Logis 649 944 979 383 984 L G Balakrishnan 530 364 459 583 201

India Glycols 452 532 359 344 6 79 JK Lakshmi Cem. 227 290 271 247 443 L T Foods 205 268 272 293 426

India Motor Part 949 668 456 614 499 JK Paper 215 115 209 195 532 L& TTechnology 182 118 171 234 10 0

India Pesticides 858 493 642 806 392 JK Tyre & Indust 107 357 234 157 540 Lak. Mach. Works 293 275 308 381 30

India Power Corp 990 846 548 588 850 Jocil 877 866 903 978 14 4 Lancer Containe. 906 724 913 919 8 77

Indiamart Inter. 779 342 339 395 597 Johnson Con. Hit 505 933 695 738 494 Larsen & Toubro 10 14 10 8 607

Indian Acrylics 871 838 943 961 803 JSW Energy 141 86 52 41 778 Laurus Labs 246 164 203 207 454

Indian Hotels Co 249 135 122 126 636 JSW Infrast 382 173 210 163 6 72 Laxmi Organic 443 535 445 507 3 79

Indian Hume Pipe 655 721 679 613 891 JSWSteel 12 34 15 14 4 75 Lemon Tree Hotel 888 570 867 353 955

Indian Metals 448 397 368 438 482 JTEKT India 573 651 693 815 16 4 Linde India 475 256 246 329 237

IO CL 2 18 4 5 263 JTL Industries 658 630 798 921 296 Lloyds Metals 377 963 417 570 430

Indigo Paints 807 523 641 800 390 Jubilant Food. 276 293 342 266 501 Loyal Textile 672 882 832 709 862

Indo Amines 863 772 896 922 78 5 Jubilant Inds. 674 704 905 932 75 4 LTIMindtree 53 33 53 81 19

Indo Count Inds. 405 344 372 377 364 Jubilant Ingrev. 294 324 278 347 208 Lumax Auto Tech. 606 622 773 625 688

Indo Rama Synth. 319 913 731 577 846 Jubilant Pharmo 234 927 157 150 631 Lumax Industries 497 594 724 700 4 73

Indoco Remedies 641 496 541 605 469 Jupiter Life Lin 879 671 828 781 74 9 Lupin 96 257 76 85 348

Indraprastha Gas 109 79 114 173 4 Jupiter Wagons 566 553 626 690 445 Lux Industries 526 498 431 533 335

Indrapr.M edical 794 641 819 935 12 3 Just Dial 849 473 218 307 72 6 M M Forgings 665 530 691 595 73 0

Ind- Swift Labs. 751 749 761 567 959 Jyothy Labs 481 380 412 544 19 9 M RPL 22 48 95 64 330

Indus Towers 60 63 47 43 593 Jyoti CNCAuto. 789 849 944 741 989 M TN L 661 997 999 176 996

Infibeam Avenues 581 503 242 343 681 KCP 494 764 580 496 843 M aan Aluminium 912 737 927 982 3 77

Info Edg.(India) 451 938 77 107 3 70 K E C Intl. 89 457 215 191 344 Macrotech Devel. 153 228 79 71 640

Infosys 15 5 13 26 33 KPR Mill Ltd 225 161 217 243 3 15 M adhucon Project 570 948 985 416 994

Ingersoll-Rand 777 453 726 882 73 Kajaria Ceramics 316 299 317 393 12 4 M B Agro Prod. 836 539 843 852 834

Innova Captab 865 688 876 906 626 Kalpataru Proj. 97 252 177 148 484 Madras Fertilize 380 446 970 643 596

Inox India 825 482 740 893 90 Kalyan Jewellers 533 255 221 178 839 Mafatlal Inds. 690 784 714 826 632

Inox Wind 938 981 494 280 991 Kalyani Steels 589 466 426 476 79 3 Magadh Sugar 834 736 706 647 847

Inox Wind Energy 922 968 968 315 993 Kamdhenu 976 766 918 983 13 7 Mahanagar Gas 231 165 200 278 42

Insecticid.India 593 700 582 692 542 Kanoria Chem. 648 898 717 676 851 M ah. Seamless 256 169 175 241 172

Intellect Design 523 350 341 457 304 Kansai Nerolac 171 234 184 258 55 M&M 18 15 24 13 835

109
ALPHABETICAL INDEX [11000 RNKA
RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company revenues profit worth assets rank Company revenues profit worth assets rank Company revenues profit worth assets rank
Mahindra Holiday 491 569 972 181 9 14 NCC 99 199 147 190 2 76 Poly Medicure 775 455 486 607 481

Mahindra Life. 905 597 371 463 9 15 NCL Industries 571 757 645 667 507 Polycab India 112 105 135 198 21

Mahindra Logis. 282 816 735 599 548 Nectar Lifesci. 650 912 526 504 885 Polyplex Corpn 195 296 497 277 433

Maithan Alloys 415 222 266 368 16 5 Nelcast 745 803 778 817 630 Pondy Oxides 671 666 881 930 361

Man Industries 539 687 550 632 686 Neogen Chemicals 932 738 769 771 943 Power Grid Corpn 37 8 8 7 6 70

Man Infra 604 360 538 631 326 Nestle India 84 53 293 217 10 2 Power Mech Proj. 363 407 479 488 3 76

Manaksia Coated 987 869 931 956 909 Netwrk.18 Media 232 934 992 199 963 Praj Industries 365 379 519 673 39

Manaksia Steels 966 863 870 947 453 Neuland Labs. 768 472 556 674 504 Prakash Industri 374 435 258 313 468

Manali Petrochem 752 735 533 675 388 Newgen Software 839 456 563 701 360 Prakash Pipes 960 677 874 959 232

Mangalam Cement 615 842 655 585 73 3 NHPC Ltd 134 36 32 28 70 1 Prataap Snacks 639 835 690 820 395

Mangalore Chem. 368 514 627 445 73 2 NIIT Learning 717 430 644 686 382 Precision Camshf 786 752 672 785 503

Mankind Pharma 172 102 124 182 68 Nikhil Adhesives 967 843 940 989 424 Prec. Wires (I) 410 710 783 916 13 1

Manomay Tex Indi 985 857 933 966 866 NILE 929 828 906 976 2 10 Precot 851 914 799 793 8 74

Maral Overseas 843 906 923 905 937 Nilkamal Ltd 399 515 468 527 299 Prestige Estates 137 146 97 77 712

Marathon Nextgen 979 552 638 530 894 Nitin Spinners 492 471 539 473 70 0 Pricol Ltd 588 533 677 782 439

Marico 140 101 220 264 50 NLC India 86 94 75 42 76 8 Prime Focus 295 490 963 227 953

Marksans Pharma 595 353 381 498 3 73 NMDC 75 28 46 69 13 0 Primo Chemicals 982 507 820 896 645

Maruti Suzuki 20 23 16 32 7 NOCIL 645 489 410 564 229 Prince Pipes 462 551 457 593 13 3

Mastek 468 337 398 412 5 73 NRB Bearings 782 620 696 718 656 Prism Johnson 203 937 576 317 5 14

Mawana Sugars 683 855 817 812 719 NTPC 11 7 3 3 654 Prithvi Exchange 411 880 954 997 452

Max Healthcare 291 126 119 162 550 Nuvoco Vistas 145 845 103 103 682 Privi Speci. 619 830 617 490 8 73

MayurUniquoters 921 592 656 810 3 17 Oberoi Realty 190 68 78 88 683 P & G Health Ltd 755 391 659 797 10 5

Mazagon Dock 174 122 176 238 26 ON GC 3 3 2 2 252 Protean eGov 934 585 602 765 562

Mcleod Russel 721 987 860 390 980 Oil India 45 20 29 35 4 16 PSP Projects 587 522 628 735 4 17

Media Matrix 860 885 932 972 75 5 Olectra Greentec 788 696 609 719 76 5 PTC India 617 249 199 120 901

Medplus Health 300 739 425 409 588 Om Infra 993 859 709 780 8 70 Pudumjee Paper 944 711 807 910 561

Meghmani Organi. 460 382 386 398 634 One97 178 994 71 106 599 Punjab Chemicals 831 706 872 937 438

Metro Brands 507 289 418 401 554 Oracle Fin.Serv. 250 70 118 177 177 Puravankara 488 692 348 254 961

Metropolis Healt 780 494 561 636 498 Orchid Pharma 964 751 681 707 957 PVR Inox 353 966 120 94 9 19

Minda Corp 326 340 400 419 320 Orient Bell 969 829 857 949 2 75 Quess Corp 88 398 301 301 345

MIRC Electronics 824 903 911 962 809 Orient Cement 400 546 397 462 389 R R Kabel 257 437 442 472 10 7

Mishra Dhatu Nig 783 479 474 417 8 79 Orient Electric 464 665 723 831 95 R Systems Intl. 668 502 743 860 14 3

MMTC 556 81 444 546 231 Orient Paper 856 605 420 517 697 Radico Khaitan 395 399 329 355 399

MOIL 681 367 318 428 291 Oriental Aromat. 875 837 712 773 837 Rail Vikas 73 93 121 101 622

Mold-Tek Pack. 977 654 737 874 460 Osia Hyper Reta. 942 868 936 945 9 10 Railtel Corpn. 583 440 390 503 280

Monte Carlo Fas. 738 519 640 660 838 PI Industries 222 110 125 189 18 1 Rain Industries 72 89 111 79 658

Morepen Labs. 707 778 657 791 72 0 P & G Hygiene 343 182 579 699 9 Rainbow Child. 770 405 529 550 695

Motherson Wiring 209 227 461 525 14 7 Page Industries 264 206 455 520 170 Rajapalayam Mill 864 649 319 325 964

Mphasis 113 80 113 159 48 Panama Petrochem 529 388 574 733 80 Rajesh Exports 559 91 62 93 488

MRF 68 167 63 84 15 0 Paradeep Phospha 119 327 224 171 824 Rajnandini Metal 830 852 952 991 849

Mrs Bectors 715 631 744 848 256 Parag Milk Foods 416 728 623 601 72 7 Rajratan Global 874 601 787 872 3 74

MSP Steel & Pow. 480 924 749 617 830 Paramount Comm. 920 748 866 923 79 7 Rajshree Sugars 963 899 886 858 9 73

MSTC 889 376 634 705 387 Pasupati Acrylon 903 788 852 954 283 Rallis India 425 626 380 491 2 14

Mukand 238 461 603 408 6 71 Patanjali Foods 55 150 96 124 2 79 Ram Ratna Wires 457 755 864 885 459

Munjal Auto Inds 560 720 823 833 582 Patel Engineerin 321 449 268 214 822 Rama Phosphates 878 769 859 929 771

Munjal Showa 744 798 697 854 289 PB Fintech. 435 977 155 221 8 14 Rama Steel Tubes 691 813 891 926 70 8

N R AgarwalInds 622 603 710 792 301 PCBL Ltd 255 251 263 299 323 Ramco Inds. 675 548 211 282 804

NACL Industries 544 617 730 630 881 PDS 614 356 555 516 526 Ramkrishna Forg. 383 370 463 376 5 10

Nagarjuna Fert. 259 984 987 775 73 9 Pearl Global Ind 391 488 678 629 403 Ramky Infra 404 120 478 337 687

Nahar Indl. Ent. 630 658 571 645 595 Pennar Industrie 418 667 639 584 529 Rana Sugars 629 698 767 751 935

Nahar Poly 981 758 637 737 647 Persistent Sys 176 148 206 252 82 Rane (Madras) 501 802 888 739 711

Nahar Spinning 438 581 409 429 5 12 Petronet LNG 31 40 60 78 60 RCF 74 139 183 201 206

Nandan Denim 578 889 747 715 635 Pfizer 485 194 238 324 383 Rathi Steel 918 639 961 993 717

Narayana Hrudaya 311 200 333 333 292 PG Electroplast 538 663 808 722 662 Ratnamani Metals 309 219 284 359 13 8

Natco Pharma 431 176 174 240 321 Phoenix Mills 357 98 152 111 74 1 RattanIndia Ent 280 962 803 609 6 15

Natl. Aluminium 110 90 70 104 13 6 Pidilite Inds. 126 103 128 183 43 Rattanindia Pow. 367 996 993 186 960

Natl.Fertilizer 57 241 283 165 70 5 Piramal Pharma 206 951 132 113 864 Raymond 167 211 264 228 441

Nava 339 147 168 153 684 Pitti Engg. 787 713 840 837 608 Redington 297 95 136 139 807

Navin Fluo.Intl. 552 282 330 351 621 Plastiblends(I) 948 811 810 931 2 13 Redtape 627 497 770 779 307

Navneet Educat. 608 412 509 592 602 PNC Infratech 189 183 194 122 939 Relaxo Footwear 453 480 366 469 18 0

Nazara Technolo. 781 776 591 669 8 11 POCL Enterprises 892 858 950 988 79 1 Reliance Industr 1 1 1 1 5 11

NBCC 168 352 377 414 19 5 usnlifeB

Pokarna 984 695 758 724 854 Reliance Infra. 66 998 180 59 827

11 fl Businei
I I U M arc
 1000
0 1zyxwvutsrqponmlkj
RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company Revenues Profit wort h Assets Rank Company Revenues Profit wort h Assets Rank Company Revenues Profit wort h Assets Rank
Reliance Power 165 974 94 52 904 Shyam Metalics 122 155 131 164 176 Swaraj Engines 694 518 839 944 23

Renaiss. Global 543 640 543 549 590 Siemens 94 82 83 116 36 Swastik Pipe 000 871 902 953 922

Responsive Ind 811 824 568 638 70 7 SignatureGlobal 653 929 951 519 951 Symphony 735 564 598 678 400

Restaurant Brand 563 957 624 468 920 Simbhaoli Sugar 760 918 967 750 990 Syngene Intl. 387 237 222 263 366

RHI Magnesita 444 973 267 269 779 Simplex Infra 590 975 863 206 998 Syrma SGS Tech. 555 556 415 489 774

Rico Auto Inds 514 744 684 586 691 Sindhu Trade 729 891 620 341 982 T.V. Today Netw. 870 635 613 769 496

Ritco Logistics 955 822 920 942 880 SIS 133 297 309 285 408 T N Newsprint 261 274 351 294 589

Rites 469 209 288 363 205 Siti Networks 716 961 977 974 79 4 TNPet ro Prod. 537 619 615 730 241

Rolex Rings 773 421 663 778 332 Siyaram Silk 515 365 511 621 224 Tanla Platforms 381 248 419 557 58

Rossari Biotech 638 584 585 716 402 SJVN 390 96 65 60 79 9 Taparia Tools 957 673 880 963 350

Route Mobile 364 310 370 455 423 SKF India 325 213 306 413 13 Tata Chemicals 87 56 50 62 425

RPP Infra Proj. 815 806 830 925 547 SKIL Infrastr 774 123 914 436 999 Tata Comm 78 71 427 108 466

RPSG Ventures 204 949 625 151 9 11 Skipper 567 793 647 619 553 TCS 8 2 7 20 2

RSWM Ltd 345 545 465 403 75 0 SMLISUZU 592 836 915 913 557 Tata Consumer 111 114 58 83 3 71

Ruchira Papers 925 691 818 928 397 Sobha 317 591 287 267 609 Tata Elxsi 398 172 337 423 115

Rupa & Co 808 725 586 658 552 Solar Industries 214 171 291 306 204 Tata Metaliks 384 653 403 526 351

Rushil Decor 899 662 838 813 8 71 Solara Active 688 910 423 396 956 Tata Motors 6 52 27 9 4 78

SChand & Compan 902 694 593 698 890 Som Distilleries 917 707 821 853 892 Tata Power Co. 30 39 43 23 75 7

S H Kelkar & Co. 633 705 542 540 6 77 Somany Ceramics 474 676 688 618 528 Tata Steel 7 19 5 10 487

S P Apparels 797 647 687 742 587 Sona BLW Precis. 467 271 313 391 384 Tata Technolog. 318 193 254 331 113

Sadbhav Engg. 542 980 956 185 9 72 Sonata Software 199 245 469 420 16 3 Tata Tele. M ah. 790 988 998 783 833

Sadbhav Infra. 805 970 962 215 986 SPI C 429 331 560 600 72 8 TCI Express 754 504 719 877 63

Safari Inds. 732 531 790 892 3 78 Spectrum Talent 947 809 948 994 3 10 TCNS Clothing Co 730 907 715 656 940

Sagar Cements 489 805 401 338 9 18 Spencer's Retail 483 956 965 650 923 TCPL Packaging 673 580 785 727 693

Sai Silks 654 608 806 740 713 SpiceJet 151 991 995 477 74 4 TD Power Systems 897 611 716 873 331

Sakthi Sugars 667 261 957 772 903 SPML Infra 876 892 851 431 997 Team Lease Serv. 191 578 630 706 12 7

Salasar Techno 812 774 805 849 831 Sportking India 535 521 618 610 458 Tech Mahindra 34 31 37 53 67

Salzer Electron. 817 777 802 846 856 Sr.Rayala.Hypo 640 481 661 814 13 4 Techno Elec.Engg 833 443 355 453 461

Samhi Hotels 936 967 976 479 987 SRF 105 58 92 95 264 Technocraf.Inds. 534 351 452 456 555

Samvardh. Mothe. 25 85 48 49 3 72 Star Cement 445 371 299 384 19 0 Tega Inds. 757 448 530 604 543

Sandhar Tech 423 670 584 554 4 79 SA I L 21 57 18 24 666 Tejas Networks 840 921 256 345 9 12

Sandur Manganese 536 348 352 448 4 12 Steel Exchange 696 926 858 766 808 Texmaco Rail 449 817 451 404 853

Sangam India 432 524 596 535 594 Steel Str. Wheel 338 427 517 497 341 TGVSraac 511 288 532 615 356

Sanghi Industrie 844 965 407 335 983 Sterling & Wils. 557 989 966 505 942 The Hi-Tech Gear 776 827 835 789 8 10

Sanofi India 419 195 477 627 15 Sterling Tools 930 746 804 900 549 The Ramco Cement 185 321 130 121 486

Sansera Enginee. 490 491 508 471 569 Sterlite Tech. 219 499 336 216 79 5 Thermax 183 247 213 257 12 5

Sapphire Foods 520 387 482 439 74 2 Stove Kraft 746 792 801 862 667 Thirumalai Chem. 548 634 500 536 624

Sarda Energy 330 201 233 255 4 77 Strides Pharma 344 955 316 237 958 Thomas Cook (I) 284 877 493 354 500

Sarveshwar Foods 951 874 910 911 9 77 Stylam Industrie 853 613 797 918 2 70 Tide Water Oil 602 571 648 788 81

Satia Industries 600 431 666 646 491 Styrenix Perfor. 498 451 673 811 49 Tilaknagar Inds. 747 487 768 794 75 6

Saurashtra Cem. 644 909 597 726 539 Subros 436 745 601 756 10 1 Time Technoplast 327 400 328 346 455

Savita Oil Tech 360 396 433 587 261 Sudarshan Chem. 527 756 614 539 565 Timken India 428 273 343 452 171

Sayaji Industr 816 875 937 969 641 Sukhjit Starch 684 699 779 776 699 Tinplate Co. 342 495 481 616 10 6

Scan Steels 803 847 829 915 663 Sumeet Industrie 846 925 964 938 78 7 Titagarh Rail 430 527 570 623 447

Schaeffler India 212 151 193 275 22 Sumitomo Chemi. 379 221 302 407 15 3 Titan Company 41 41 82 73 220

Schneider Elect. 607 541 947 855 625 Sun Pharma.Inds. 38 21 21 33 2 15 Torrent Pharma. 156 108 142 118 448

Sequent Scien. 705 941 699 665 933 Sun IV Network 334 74 98 152 16 1 Torrent Power 62 60 89 70 4 70

Seshasayee Paper 562 270 393 542 15 9 Sundram Fasten. 258 224 252 308 16 8 T RI L 724 770 816 824 73 8

Shakti Pumps 855 823 795 912 495 Sunflag Iron 302 124 257 295 450 Transpek Inds. 904 643 722 825 527

Shalby 891 690 581 683 78 3 Sunteck Realty 626 883 270 318 694 TransportCorp. 352 318 385 514 45

Sharda Cropchem 324 301 322 437 61 Superhouse Ltd 933 815 791 863 76 1 Trent 161 250 285 193 627

Sharda Motor 450 409 653 803 233 Supershakti Met. 998 796 890 968 245 TBZ 493 773 736 670 690

Sheela Foam 421 413 399 442 3 16 Suprajit Engg. 442 485 491 484 442 Trident 230 253 197 224 267

Shera Energy 986 870 946 980 829 Supreme Inds. 158 153 189 270 5 Trigyn Techno. 741 794 686 841 650

Shilpa Medicare 818 919 373 387 859 Supreme Petroch. 267 223 367 499 6 Triven.Engg.Ind. 211 72 279 312 203

SCI 248 152 129 147 5 13 Surya Roshni 188 303 363 425 12 2 Triveni Turbine 734 429 651 816 78

Shoppers Stop 314 566 904 394 629 Suryalak. Cott. 895 864 884 917 75 3 TTK Healthcare 719 187 577 723 538

Shree Cement 77 104 51 72 242 Sutlej Textiles 388 783 513 458 583 TTK Prestige 426 363 353 464 16 6

Sh. Digvijay Cem 972 714 846 948 251 Suven Pharma 706 263 379 510 257 Tube Investments 103 141 259 218 110

Sh.Renuka Sugar 159 953 986 262 604 Suzlon Energy 173 45 515 336 5 16 Tulsyan NEC 759 372 809 799 696

Shreyans Inds. 893 669 862 943 281 SVP Global 909 960 958 361 1,0 0 0 TV18 Broadcast 243 565 243 155 969

Shriram Pistons 466 336 422 493 228 Swan Energy 679 928 610 184 985 TVS Holdings 52 185 786 58 924

111
ALPHABETICAL INDEX [11000
RANK RANK RANK

Total Net Net Total FSI Total Net Net Total FSI Total Net Net Total FSI
Company RNKA revenues profit worth assets rank Company revenues profit wort h assets rank Company revenues profit worth assets rank
TVS Motor Co. 54 100 162 61 76 0 Vardhman Special 618 599 704 805 393 VST Till. Tract. 829 624 616 768 3 19

TVS Srichakra 397 661 537 534 386 Vardhman Textile 147 162 107 140 238 Welspun Corp 128 410 182 170 646

TVS Supply 148 775 683 284 505 Varroc Engineer 216 982 578 367 497 Welspun Enterp 369 174 304 319 652

Ucal 916 888 811 869 70 4 Varun Beverages 118 84 166 156 404 Welspun Living 192 420 205 197 435

Udaipur Cement 826 790 837 573 9 74 Vascon Engineers 827 609 588 695 802 West Coast Paper 288 145 334 358 173

Uflex 104 229 117 109 5 70 Vedant Fashions 695 258 450 501 381 Westlife Food 518 577 734 523 698

Ugar Sugar Works 710 595 898 867 563 Vedanta 13 12 34 17 537 Wheels India 304 715 658 568 449

UltraTech Cem. 28 30 19 31 2 11 Venky's (India) 329 680 470 575 18 8 Whirlpool India 218 401 229 298 88

Unichem Labs. 723 954 295 370 78 1 Vesuvius India 718 563 553 710 14 8 Winsome Textile 882 820 885 903 79 2

Uniparts India 713 411 612 754 221 V-Guard Industri 340 439 395 450 15 2 Wipro 24 10 9 21 202

United Breweries 198 328 207 291 15 1 Vinati Organics 546 243 324 440 10 9 Wockhardt 461 979 249 223 9 13

United Spirits 138 121 145 212 2 73 Vindhya Telelink 403 447 239 287 72 4 WPIL 613 438 675 691 396

Universal Cables 524 559 424 447 669 Visa Steel 495 76 974 866 897 Yasho Industries 970 689 889 894 882

Uno Minda 131 184 212 222 227 Visaka Industrie 634 726 643 666 73 5 Zee Entertainmen 275 747 87 131 4 15

Updater Services 561 791 825 818 437 Vishal Fabrics 657 729 813 829 657 Zee Media 971 931 815 870 8 12

UPL 35 37 41 37 559 Vishnu Chemicals 697 510 796 802 560 Zensar Tech. 292 309 255 326 93

Usha Martin 385 295 344 400 290 Vishnu Prakash R 737 628 853 890 70 9 ZF Commercial 371 317 300 402 51

Uttam Sug.Mills 558 540 727 649 661 VL E-Governance 975 878 281 382 902 Zomato Ltd 194 985 49 75 770

V I P Inds. 547 484 705 714 3 13 V-Mart Retail 463 897 606 444 823 Zuari Agro Chem. 254 233 531 309 836

V2 Retail 914 904 887 850 941 Vodafone Idea 43 1000 1000 11 8 78 Zuari Industries 720 325 305 246 950

Va Tech Wabag 413 860 404 487 492 Volt.Transform. 700 417 514 681 14 0 Zydus Lifesci. 90 66 59 80 178

Vadilal Inds. 806 612 848 839 73 1 Voltas 157 513 156 210 179 Zydus Wellness 512 323 161 233 773

Vaibhav Global 459 588 496 606 249 VRL Logistics 434 314 565 529 444

Valiant Organics 813 636 708 728 535 VST Industries 725 311 502 652 175

METHODOLOGY AND NOTES
1. Companies are ranked by t heir latest aud ited an n u al
revenues on orbefore t he year ended September 3 0 ,
2 0 2 3 . The num bers include net sales f ro m t he core
business, besides other recurring inco m eand
no n- recurring and ext raordinary incom e, b ut exclude
excise duties an d other indirect t axes.
2. Wherever possible, figures are o n a consolidated
b asisand include t he results o f a com pany's subsidiaries,
its associates and jo int vent ures, as reported in its
consolidated account s.
3 . The revenues, operatingproflt, netprofit^ , salary, t axes,
and dividends have been annualised if the reported
num b ersareno t fo r 12 mont hs.Taxes includecorporate
t axes, deferred t ax, cess and dividend distribution t ax.
4. M arket capit alisat ion is t he average for t hree m ont hs
end ed Decem b er2023.
5. Net profit, net wo rt h and assets have been adjust ed
for minority interests an d exclude revaluat ion reserves.
Net profit aft ert ax is as reported and includes
ext ra- ord inary an d no n- recurring incom e.
6. The list o nly includes no n- f inancial co m p aniesand
excludes banks, no n- b anking f inance com panies,
t erm - lend ing institutions, ho m e loan com panies,
Insurance, brokerages, invest m ent companies an d those
engaged in securities t rad ing and related industries.
7. To q ualif yf o rt he BS1000 list, a com pany m ust be
listed an d its shares should be t raded on eit hero f t he t w o
leading stock exchanges in Ind ia - BSE or NSE. The
co m p anysho uld be incorporated in In d i aan d declare its
financial results in Ind ian rupees.
8 . Th er even u ef i g u r eso f t r ad i n g co m p an i es,
gems & jew ellery m akers, ed ib le oil refiners an d
t echnology products resellers have b een ad just ed to
reflect value ad d it io n. These indust ries are
charact erised by l o w er val u e ad d i t i o n - t h ed i f f er en ce
b et ween value of raw m at erial purchases an d sale of
f inal products - com pared w i t h m anuf act uring
co m p anies in sectors such as aut o m o b iles, t ext iles,
chem icals, co nsum er goods, capit al g o o d sand m et als.
These co m p anies also have m uch lo wer invest m ent in
p l an t an d eq u i p m en t . Put t ing t hem in t he sam e list
(w it h o u t revenue ad just m ent ) w o u l d go ag ainst
m anuf act uring co m p anies.
9. Fo rt rad ing co m p anies, revenuesrefert og ross
t rading m argin, an d were derived by d ed uct ing t he cost
of purchase of t raded/ finished goodsfrom t heir reported
gross revenues. This has been d o ne to bring t he
results of Ind ian t rad ing com panies o n a p ar w i t h
int ernat ional no rm s. However, it m ust be m ent io ned
t hat t here are as yet no separate account ing ru les for
t rading firms in Ind ia.
10 . Reported revenues of g em s& jew ellery
makers, edible oil refiners, and technology product
dist ribut orsand resellers weread just ed i n a sim ilar
m anner, if their average gross t rading/ m anufact uring
margin in t he last t hree years was less t han 10 p ercent
o f t h eirn et sales.
11.The num bers have been sourced from Capitaline Plus
corporate dat abase m aint ained by Capital M arket
Publishers India Ltd. All num bers are as reported in t he
dat abase, an d are in ~ crore, unless specified.
12 . The city refers to t he location of t he com pany's head
office or its corporate headquart ers, and not necessarily
its place of incorporation or registered office.
13 . Financial Sust ainabilit y Ind ex (FSI) broadly
indicat es " Ho w f i n an ci al l ysu st ai n ab l e ar ea co m p any's
op erat ions?" A higher rank indicates a co m p any's
greater st aying p o w er an d likelihood of p erform ing
better in favo urab le t im es. FSI is calculat ed by
assigning 10 per cent weig ht each to m arket cap,
revenues, ratio of equit y to d eb t , cash f l o w t o int erest ,
cash f l o w to ent erprise valu e, an d m arket cap to
t ot al asset s; an d 20 per cent weig ht each to ratio
of total incom e to total assets, an d ret ained earnings
to total asset s.
14 .Unlisted co m p aniesare compiled as available and
t he met hodology remains t he sam e.
Abbreviations used: OPM - operating profit m arg in;
15 .
NPM - netprofit margin; RON W- return o n net wo rt h;
ROCE - return on capital em ployed . yutsrponmlihedcbaS
Data has been compiled by BSResearch Bureau

Com panies w i t h year - en d o t her t h an M arch 2 0 2 3 are ind icat ed by sym b o ls (as per t h e list b elo w ) f o llo wed aft er t he cit y:

Ju n e 2 0 2 2 = O I 0 ct o b er 2 0 2 2 = Q I Ju n e 2 0 2 3 = R I Figures an n u al i sed for 12 m o n t h s = V

Sep t em b er 2022 = • I Decem b er 2022 = + I Sep t em b er 2023 = •

11") Business Standard ZI

I IZ M a r c h 2 02 4
BS 1000 Mar ch 2024 RNI Regd. No. 66004/ 1997