The government-owned and run Indian Oil Corp is the largest company India by revenues, followed by Reliance Industries and Bharat Petroleum at the second and third places respectively, says the the Fortune 500 list of Indian companies for 2014. Indian Oil (IOC) tops the chart with annual revenue of Rs 5,00,973 crore, while Reliance Industries Ltd's (RIL) full-year revenue is Rs 4,44,021 crore. Follwing them at the third position is Bharat Petroleum (BPCL) with revenues of Rs 2,67,718 crore. Hindustan Petroleum's (HPCL) Rs 2,36,797 crore revenue earned the fourth place in the Fortune 500 list.
IOC, RIL, BPCL and HPCL have retained their last year's respective ranks, reports Fortune India. This year's list notes that there has been a 9.5 % annual growth in total revenues, while in terms of profits, it has been 4.5%. The government-owned companies, which make for 38 5 of the total revenues, have seen a 6.6 5 growth, while private companies with 56.7 % share have seen revenue growing by 10.2 %.
Among others in the top 10 list are Tata Motors (5th with a revenue of Rs 2,36,502 crore, State Bank of India (Rs 2,26,944 crore), ONGC (Rs 1,82,084 crore), Tata Steel (Rs 1,49,663 crore), Essar Oil (Rs 99,473 crore) and Hindalco Industries (Rs 89,175 crore) appera on in the list in that order. A look at this year's Fortune India 500 through 'Make in India' lens reveals that the manufacturing sector, with 298 companies, commnads a 67 % share of the total revenue, marginally lower than the 68.7 % share reported in 2013. The revenue share of services companies (143 firms) has increased to 27.7% from 26.3 % in 2013. Profits also show a similar trend, while manufacturing share has fallen to 55.1 % from 56.6 %, that of services has gone up to 44.1 % from 40.9 %.
"Manufacturing then, definitely needs a helping hand and 'Make in India' could just be the ticket," the report recommends, adding further that "the specific pain points that need to be addressed include the issue of retrospective taxation, labour and foreign direct investment".