India Top500Companies2016

Indias
TOP 500
Companies
2016
Indias
TOP 500
Companies
2016
Published by
Dun & Bradstreet Information Services India Pvt Ltd
Indias Top 500 Companies 2016
Published in India by Dun & Bradstreet Information Services India Pvt Ltd.
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Editor Pawan Bindal

Sub-Editor Naina Acharya
Editorial Team Yogesh Jambhale, Mihir Shah, Omesh Kandalkar, Aakanksha Sawant, Christopher DSouza, Yash Kavi,
Rohit Singh, Agnel Peter, Nishita Lali, Rohit Pawar, Amol Lad
Sales Head Jayesh Bahadur
Sales Team Suhail Aboli, Ajith Alex George, Sunena Jain, Nishant Gulliya, Tanya Bedi, Girish Menon, Keerthi Madhu,
Apoorwa Tyagi, Asha Nair, Aloka Chatterjea, Nehal Khosla
Operations Team Nadeem Kazi, Prem Kumar, Ankur Singh, Parth Desai, Sumit Sakhrani, Rajesh Gupta, Parmeshwar More
Design Team Mohan Chilvery, Aditya Salvi, Tushar Awate, Sonal Gangnaik, Shilpa Chandolikar
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Indias Top 500 Companies 2016

16th Edition
ISBN 978-93-82060-96-3
Contents
Preface . ................................................................................................................ I
Foreword ............................................................................................................ III
executive summary .............................................................................................V
Methodology . ...................................................................................................VII
Definitions & Calculations ..................................................................................XI
Economy Update..............................................................................................XVII
Insights
Changing Face of Top 500 Companies........................................................................... XXVII
Overview of Top 500 Companies................................................................................. XXXIX
Quarterly Update............................................................................................................XLIX
Corporate Awards 2016...................................................................................... LV
Experts View...............................................................................................E1-E17
Journey of an Enterprise.............................................................................. J1-J11
Top 500 Company Rankings . ...................................................................... L1-L55
Profiles of the Top 500 Companies ...............................................................1-416
Abbreviation .............................................................................................418-446
Index .........................................................................................................447-452
Preface
Dun & Bradstreet India is pleased to present the 2016 edition of its premier
publication Indias Top 500 Companies. The issue, which made its debut in
1997, is a ready reference tool on top companies of corporate India across more
than 50 sectors with valuable insights on their business operations and financial
performance.
The publication Indias Top 500 Companies 2016 continues with the customary
approach of profiling companies that are ranked on total income, net profit, and
net worth among other key financial indicators. Further, the edition also includes
a financial comparison of companies classified under their respective sectors.
The Insights section is based primarily on in-depth analysis of the aggregate
financial performance of these companies for the past five years (including FY15)
and the first three quarters of FY16. Views of industry veterans on opportunities
and growth drivers about their respective sectors and the future plans have been
encapsulated in the Experts View section.
Indias Top 500 Companies are a reflection of the Indian economy in the true sense. Public sector enterprises
are today considered to be the pillars of critical sectors such as oil & gas, coal, power etc. Their importance can
be underscored by the fact that public sector enterprises, which account for 14% of the universe of Top 500
Companies, contribute to approximately 40% of the aggregate total income and profit and around one-thirds
of the aggregate market cap. The publication also highlights the gradual shift of the Indian economy from
manufacturing to the services sector wherein banking and software sectors have today emerged to be the
growth drivers of the economy. To continue among the fastest growing economies of the world, India needs
to show sustainable growth for which the role of consistent performers becomes critical. Noteworthy is the
fact that 147 companies have consistently featured in all the editions of Indias Top 500 Companies and have
recorded a CAGR of 16% in market capitalization, 14% in income and 13% in profit between 1997 and 2016
editions a testimony indicating that stable performance is the key to success in the long run, especially in a
dynamic business environment.
The Indian economy continued to demonstrate resilience in the face of a tepid global recovery. The real GVA at
basic prices registered a growth of nearly 7.1% in FY15. Battling sluggish demand and tight liquidity conditions,
the aggregate income and profit of Indias Top 500 Companies grew by 3% and 5% respectively in FY15. The
growth prospects of the Indian economy for the year 2016-17 would be highly dependent on domestic drivers
of growth. We are moving in the right direction with improvement in macro-economic conditions and softening
interest rates expected to improve the business sentiment in FY17. In this context, the role of Indias Top 500
Companies will be clearly accentuated to lead India to greater heights in the days to come.
I hope you enjoy reading this issue of Indias Top 500 Companies 2016 and look forward to your comments
and suggestions.
Kaushal Sampat
President & Managing Director - India
Dun & Bradstreet
INDIAS TOP 500 COMPANIES I

Foreword
It is a great pleasure to present the sixteenth edition of Indias Top 500 Companies,
Dun & Bradstreets premium publication. This publication has consistently served
as a compendium on financial performance of corporate Indias top performing
companies across a whole spectrum of diverse industries. The publication
provides comprehensive comparative performance of these top companies for
key financial indicators.
The real GVA at basic prices registered a growth of nearly 7.1% in FY15 compared
to 6.6% in FY14. The momentum continued with GVA registering a growth of
7.3% during Q1-Q3 of FY16 as compared to 7.4% in the corresponding period of
the previous fiscal. Macroeconomic developments coupled with market concerns
about the growth of the Chinese economy and non-revival in the domestic
demand conditions adversely impacted Corporate India. As a result, the total
income of Top 500 Companies showed 4% de-growth for the first three quarters of FY16 as compared to the
corresponding period of previous year.
Global prices of crude oil and other raw materials particularly metal declined in 2015 leading to softening
of commodity prices. Continuing the downward trend, crude oil price declined from approximately $55 per
barrel at the start of 2015 to less than $40 per barrel during end of 2015. Analysis of 300 companies from the
manufacturing sector (whose data for raw materials and profit was available for 9M period of Apr-Dec 2015
and 2014) shows that raw material expenses of these companies slowed down by nearly 20% during Apr-
Dec 2015 compared to corresponding period of previous year. As a consequence, these companies from the
manufacturing sector managed to record profit growth of more than 10% for the same time period.
Prospects for the Indian economy have definitely brightened in view of abatement of high inflationary
pressures and easing of interest rate cycle. In addition, the Union Budgets reiterating thrust in investment
in the infrastructure sector as well as policy initiatives undertaken by the current government has created
an environment of optimism. However, high corporate debt continues to be a point of serious concern that
Corporate India will need to manage prudently. As the Indian economy continues to evolve Dun & Bradstreet
will continue to provide critical insights about Corporate Indias performance through Indias Top 500
Companies 2016.
I look forward to receiving your valuable feedback and suggestions.
Pawan Bindal
Director
Dun & Bradstreet India
INDIAS TOP 500 COMPANIES III

Altran India
1700
Innovation
Makers
Sanjay Kumar
CEO & MD
7 offices
across 5 cities
Dear friends, thank you for your support

to help us emerge as Indias fastest
growing Engineering Services company.
Over 12 years
of experience
in India
Energy, Aerospace,
Telecom & Industries &
Automotive Power, Defense &
Semiconductor Life Sciences
Oil & Gas Railways
/Altran India /Altran India .com/co.in

Executive Summary
The publication Indias Top 500 Companies 2016 serves as a testimony to the
resilience of Corporate India and their critical role in driving the economic growth
of the nation. FY15 was characterized by macroeconomic improvement and
consequent turnaround in the investor sentiments. This was primarily attributed
to governments policy actions on environmental clearances; mining licenses and
a push to some stalled projects which aided the growth prospects. Despite the
positive domestic economic indicators, factors arising due to volatile external
environment continued to exert severe stress on the performance of Indias Top
500 companies. An analysis of the Top 500 companies across more than 50 sectors
can be treated as an indicator of the growth trends of Indias leading businesses.
Following are some of the key highlights from the publication:

37 new entrants made their debut in the 2016 edition as compared to 51
new companies in the last edition. These new entrants recorded 10% growth
in total income in FY15 compared to FY14
The top-line growth of the Top 500 companies was dented due to global deflation of manufactured
products coupled with surplus capacity in the domestic market and falling domestic and global demand.
The total income growth of the Top 500 companies slowed down to 2.8% in FY15 compared from 9.9% in
FY14
The Profit after Tax (PAT) of the Top 500 companies grew marginally from 3.2% in FY14 to 4.6% in FY15, on
account of correction in commodity prices
The aggregate dividend paid by the Top 500 companies slowed down from 16.7% in FY14 to 13.2% in FY15
on the back of slow income and profit growth
In terms of y-o-y growth, total income of large-cap companies grew at a rate of 1.8% in FY15 as compared
to the growth of 6.2% and 4.2% witnessed by mid-cap and small-cap companies, during the same period
71 PSUs, which feature in the current edition and account for nearly 14% of Top 500 companies in terms
of absolute numbers, contribute to nearly 40% of the aggregate total income of Top 500 companies
Dun & Bradstreet also analyzed the recent performance of 498 companies from Indias Top 500 companies
based on availability of information for first three quarters of FY16 (Apr Dec 2015)
The total income of Top 500 companies declined by 4% during 9M FY16 as compared to 9M FY15, while
their PAT declined by 2.9% during the same period
The total expenses of the Top 500 companies declined by 3.9% during 9M FY16 as compared to 9M FY15
during which they grew by 5.6%
The government has implemented a reform-to-transform agenda which is a series of incremental, yet
collectively meaningful measures to spur economic growth. These measures jointly with regulatory policies
are expected to accelerate the growth of Indian economy. As this dynamic economy continues to evolve,
Dun & Bradstreet is committed to track Indias corporate growth story through its editions of Indias Top 500
Companies.
Naina R Acharya
Deputy Leader - Operations
Economic Analysis Group
Dun & Bradstreet India
INDIAS TOP 500 COMPANIES V

Methodology
Indias Top 500 Companies 2016 includes private sector companies and public sector enterprises (PSEs)
listed on the Bombay Stock Exchange (BSE) and/or the National Stock Exchange (NSE), Indias two major stock
exchanges.
Standalone total income remains the primary criteria for the initial shortlisting of companies. However the
editorial team continues to use a diverse set of parameters to refine and arrive at the list of Top 500 companies.
Such criteria include market capitalization and financial health (*). The list was filtered by exclusion criteria such
as three year losses, negative net worth, and corporate governance records to arrive at the final list of Top 500
companies. Total income, net profit, and net worth continue to be the criteria used for ranking of companies
in Dun & Bradstreet Indias Top 500 Companies 2016.
Companies that were listed until March 31, 2015 were considered for inclusion. However, companies that
were delisted after March 31, 2015 were not considered. Exceptions for delisted entities were made for those
companies which were delisted due to amalgamation/merger and the resulting new entity was listed post
March 31, 2015.
Entities that were classified as suit-filed accounts (willful defaulters) of ` 2.5 mn and above, by Credit Information
Bureau (India) Ltd. (CIBIL) are excluded from the publication.
* Weak macroeconomic conditions in India in the past few years have impacted the financial health of many
Indian companies. There have been instances wherein companies faced difficulties in servicing their debt and
have adopted different debt restructuring mechanisms such as joint lenders forum (JLF), 5:25 scheme, corporate
debt restructuring (CDR) and strategic debt restructuring (SDR). In such cases (where information is public), an
additional criteria set has been applied to include and exclude companies from the Top 500 list. Such companies
have been marked in the publication with the symbol @ in company listings, wherever applicable.
This edition also features financial comparison of the profiled companies classified under different sectors.
We have identified 55 distinct sectors for classifying companies. We have classified companies into respective
sectors based on the companys line of business falling within the defined scope of the sector as mentioned in
the Sector Definition. In the case of companies operating in more than one sector, we have classified these
companies based on the major source of the respective companys income. The main source of information
includes FY15 segmental revenues and other related business information. The Diversified category includes
companies operating in more than one segment, whereby no segment contributes more than 35% of the overall
revenue of the company. Others category comprises of companies, where the given company is the only Top
500 Company in its sector. Within each sector, the companies are further ranked on their total income.
All the financial information in the publication is based on standalone financials sourced from annual reports
or audited financial statements. Financial information for the period ending between October 31, 2014 and
September 30, 2015 is considered for the purpose of the publication. In effect for the majority of Top 500
Companies, the audited financial statements for the period ended March 31, 2015 have been considered. For
companies where the published financial statement is for a period other than 12 months, the financials are
annualized for the purpose of shortlisting, ranking, and profiling. Dun & Bradstreet excluded companies in the
absence of unavailability of the annual reports at the time of compiling this publication. In general, all information
used in the publication is from publically available relevant sources. The various financial computations are based
on Dun & Bradstreets methodology and have been explicitly explained in the Definitions and Calculations
section. Companies with financial statements which have been qualified by auditors are marked with an asterisk
(*).
Dun & Bradstreet has developed an in-house model for selecting top performing companies for awards in
respective sectors. The model took into consideration key financial indicators in areas of business size, growth,
profitability, leverage and solvency among others.
Each company featuring in the publication has been allotted a unique identification number to (D-U-N-S -
Data Universal Numbering System), which will help readers locate and obtain full-fledged business information
reports on these companies from the Dun & Bradstreet
INDIAS TOP 500database.
COMPANIES VII
Sector Definition
Sector Definition
Agro Chemicals Manufacturing and distribution of chemicals used in agriculture industry. These
chemicals include insecticide, pesticide, herbicide and related chemicals. The
sector excludes fertilisers which are classified separately.
Auto Components Manufacturing and distribution of all types of auto ancillaries, such as engines,
carburettors and shock absorbers. The sector excludes manufacturer of tyres
and batteries, which are classified separately in the respective sectors.
Automobile - Two/Three Wheelers Manufacturing and distribution of Two/Three wheeler automobiles.
Automobiles Manufacturing and distribution of passenger vehicles, which include cars &
sport utility vehicles (SUVs) and commercial vehicles.
Banks Companies operating with Banking license as issued by the Reserve Bank of
India
Batteries Manufacturing of rechargeable batteries. The sector excludes manufacturing
of dry cells
Bearings Manufacturing and distribution of bearings
Cement Manufacturing of cement, clinker & concrete
Chemicals Manufacturing and distribution of basic chemicals. The sector excludes
fertilisers, plastics and petrochemicals which are classified separately in the
respective sectors.
Cigarettes Manufacturing and distribution of cigarettes
Coal & Coal Products Mining & distribution of coal and coal products
Construction - Infrastructure Development Construction of infrastructure such as roads and bridges and other civil
structures
Consumer Durables & Appliances Manufacturing and distribution of consumer appliances such as TVs, Fridge,
Air conditioners etc.
Diversified Companies operating in multiple segments with no single business vertical as
the major revenue contributor
Electrical & Electronic Manufacturing and distribution of products used to generate, distribute and
use electrical power. Also included is the manufacturing of electrical lighting
and electric household appliances
Engineering Project/Capital Goods Design, manufacturing and supply of industrial equipment and providing
related EPC services
Fertilisers Manufacturing and distribution of fertiliser products such as urea, crude
phosphate etc. The sector excludes manufacturing of agro chemicals such as
pesticides.
FIs / NBFCs / Financial Services Companies engaged in providing various types of financial services other than
banking services
FMCG Manufacturing and distribution of goods that are commonly available with
relatively low unit value. Example: soaps, toothpaste, cosmetics etc. This sector
excludes food & beverage products
Food Products Manufacturing and distribution of food products including snacks, fruits,
vegetables, dairy products, meatpacking, dietary supplements, vegetable &
other edible oils and related items
Footwear Manufacturing and distribution of shoes, sandals and other footwear
products
Gas - Processing, Transmission and Marketing Manufacturing and distribution of natural gas through pipelines for both
domestic and industrial purposes. This sector excludes the manufacturing of
industrial gases
Gems and Jewellery Manufacturing and distribution of jewellery and related articles
Glass and Ceramics Manufacturing and distribution of all forms of glass (except glass jewellery)
and ceramic products
Graphite and Electrodes Manufacturing and distribution of graphite and graphite related products such
as electrodes.
VIII INDIAS TOP 500 COMPANIES

Sector Definition
Sector Definition
Hotels Management and operation of hotels providing accommodation
Iron and Steel Manufacturing of basic iron and steel such as sheets and bars.
Liquor Manufacturing and distribution of all types of alcoholic beverages
Media and Entertainment Companies engaged in providing print and electronic media for information
and entertainment purposes
Metal Products Manufacturing and distribution of finished metal products such as metal pipes
and tubes among others
Mining - Metals & Minerals Companies involved in mining activities of metals & minerals
Non Ferrous & Precious Metals Manufacturing of metal products other than iron excluding companies which
make finished products
Oil - Refining and Marketing Companies engaged in refining and supply of oil & gas products. Excluding
companies involved in processing and supply of natural gas and petrochemicals
which are covered in separate sector
Oil & Gas Exploration Companies involved in exploration for drilling and production of oil & gas
resources
Others Companies with businesses/products not classified in any of the mentioned

sectors
Packaging and Allied Activities Manufacturing and distribution of packaging material.
Paints Manufacturing and distribution of paints
Paper & Paper Products Manufacturing and distribution of paper and paper products
Petrochemicals and Polymers Manufacturing and distribution of petrochemical products such as PET resins,
polystyrene among others
Pharmaceuticals Manufacturing and distribution of over-the-counter & prescription drugs and

allied activities, including life science products
Plastic and Plastic Products Manufacturing and distribution of plastic and plastic products
Power Companies engaged in generation, transmission and distribution of

electricity.
Power Equipments Manufacturing of equipments related to management of electrical energy and

EPC services in the power transmission and distribution business
Real Estate Construction and development of residential and commercial infrastructure
Retail Sale of goods using multi-brand retail outlets
Shipping Water transport services for commercial purposes
Software and ITeS Companies engaged in providing various types of services related to information
technology including consultancy.
Specialty Oils and Lubricants Companies engaged in production and distribution of lubricant oils.
Sugar Manufacturing and distribution of sugar
Telecom Services Companies providing fixed and mobile telecommunication services including
data services
Textiles Manufacturing and distribution of textile fibres and finished textile products
Trading Companies engaged in trading activities of goods
Transport and Logistics Companies engaged in transportation and delivery services and allied activities
for commercial as well as personal purposes
Tyres Manufacturing and distribution of tyres for automotive industry
Wood & Wood Products Companies engaged in providing finished wood and related products such as
plywood
INDIAS TOP 500 COMPANIES IX

Definitions &
Calculations
Definitions & Calculations
This section defines financial terms and ratio used in this publication.
Total Income - Refers to the revenue plus other income but excludes impact of prior-period, exceptional
and extraordinary items, and any movement in. The revenue is the net of excise duties, sales tax, inter-
unit transfers and other government levies. Interest and subsidies are added to Total Income.
Net Profit - Is profit after tax excluding impact of prior-period, exceptional and extraordinary items. Tax
includes all provisions required and any other tax adjustment specifically mentioned.
Net Worth - Is the sum of share capital, equity equivalents and reserves & surplus. Equity equivalents
include share warrants, ESOP etc. Debit balance appearing in the profit and loss account and foreign
exchange translation reserve account, revaluation reserves, miscellaneous expenditure, and intangibles
such as patents, goodwill, trademarks, copyrights, know-how, brands, licenses, rights, computer software
and the likes are deducted from the Net Worth.
Net depreciation as mentioned in profit & loss account.
Interest cost net of capitalisation wherever available
Ratios
Particulars Formulae
EBITDA Profit Before Tax + Interest Expense + Depreciation and Amortisation Expense
EBIT EBITDA Depreciation and Amortisation Expense
EBITDA Margin (%) (EBITDA/Total Income) * 100
Net Profit Margin (NPM) (%) (Net Profit/Total Income)* 100
Return on Net Worth (%) (Net Profit/ Net Worth) * 100
Return on Assets (PAT/ Total Assets) * 100
Debt-to-Equity (times) (Total Debts) /Shareholders Fund
Shareholders Fund Equity Share Capital + Preference Share Capital+ Reserves and Surplus Accumulated
Losses Deferred expenses
Total Debt Short Term Debt + Long Term Debt + Current maturities of Long Term Debt
Total Assets Non-Current Assets + Current Assets (excluding accumulated losses and deferred
expenses)
Interest Coverage (times) EBIT/Interest Expense
The publication also includes terms and indicators specific to the banking sector.
Banking Indicators and Ratios

Particulars Formulae
Total Business Total Advances+ Total Deposits
Total Assets Cash in hand + Balances with RBI + Balances with banks inside/outside India + Money at call
+ Investments + Advances + Fixed Assets + Other Assets
Net Interest Margin As provided in Companys Annual Report. If not provided, as provided by RBI
Net Interest Income Total Interest earned Total Interest expended
Net NPA Ratio As provided in Companys Annual Report. If not provided, as provided by RBI
Return on Assets (ROA) As provided in Companys Annual Report
XII INDIAS TOP 500 COMPANIES

Symbols used
# Annualised Financials
* Financials with Auditors Observations
^ Abridged Annual Report
^^ Company whose year ending has changed from 30th Sep 2014 to 31st Mar 2016.
PL Profit to Loss
LP Loss to Profit
LL Loss in Current and Previous Year
@ The companies which have adopted different debt restructuring mechanisms such as joint lenders forum (JLF),
5:25 scheme, corporate debt restructuring (CDR) and strategic debt restructuring (SDR).
INDIAS TOP 500 COMPANIES XIII

XIV INDIAS TOP 500 COMPANIES
ECGC Strengthens its Balance Sheet:
Settles claims of ` 1,122.84 Cr during 2015-16
ECGC Ltd. paid out record claims of On 31.03.2016 ECGC had 11,525 short- growth of 51.80 % over the previous
` 1,122.84 Crores to Indian exporters term policies and 284 ECIB covers in year. PAT for the FY 2015-16 stood at
and nancing banks during force, Under the ECIB covers over 25,342 ` 276.22 Crores compared to
FY 2015-16 in the wake of continuing accounts of exporters nanced by ` 180.10 Crores during the previous
global economic recession and various commercial banks were covered. years. Dividend proposed to its sole
uncertainties. The Corporations The share of Banks covered by ECGC in shareholder, Govt. of India is ` 78.23
paid-up capital stands at ` 1,300 Crores, export credit disbursement is around Crores, including dividend tax.
while the Authorised Capital is ` 5,000 75%. All the Government owned banks
Crores. Net Worth as on March 31, 2016 and 14 private sector banks are under During the year 2015-16, ECGC took
is ` 3,279.31 Crores. ECGC has built up the cover of ECGC. As regards Policy various initiatives to promote exports
cumulative provision aggregating to business, the Corporation presently and improve services to its customers
` 4,384.46 Crores as on March 31, 2016. underwrites risk on 237 countries viz. Exporters and Banks. These include
The total assets under management is of the world and maintains records of organizing Customer Awareness
over ` 7,100 Crores. The Corporations about one lakh active buyers all over Campaign for non-Policyholders
Solvency Ratio as on March 31, 2016 the world. During the FY 2015-16, the & export promotion seminars in
was 9.79 vs. the regulators norm of Corporation added 18,278 new buyers association with Trade Bodies & Export
1.5. The organization is iAAA rated by to its database. The data on buyers is Promotion Councils at export centres
ICRA which denotes highest claim paying used for underwriting commercial risks across the country, motivating exporters
ability. on the buyers. ECGC covered gross risk through awards for high performing
value of ` 135,872 Crores under its exporters in dierent segments.
Addressing a media meet to highlight Short Term Policy schemes for exporters A number of customer-friendly
business performance for the during FY 2015-16. measures are in the pipe-line emerging
FY 2015-16, Mrs. Geetha Muralidhar, out of Mr. Hakeems Study.
Chairman Cum Managing Director of ECGC also covers risks of project On April 18, 2016, as a rst step, the
ECGC mentioned that the Corporation exporters and banks involved in the Corporation has already announced the
was able to meet expectations of its medium and long term exports. Under reduction in premium rates for exporters
customers as well as stakeholders. this sector, the Corporation issued 21 by an average of 17% under several
During the past three years, Indian Policy covers to exporters and 92 covers of its insurance schemes. Few other
exporters suered nancial losses owing to Banks during FY 2015-16. Major initiatives we are awaiting necessary
to the global economic slowdown and projects supported by ECGC, are being approvals which we expect to receive
resultant failure of a large number executed in Vietnam, Cambodia, Nepal, very soon and implement them.
of overseas buyers due to European Brazil & Argentina.
crisis, slowdown in China, and fall in The year ahead looks challenging for the
international crude prices. Therefore, On account of Government Of India, exporters and the Ministry of Commerce
the role of ECGC, the national export ECGC operates National Export is taking several steps to address the
credit insurer of India, has been and will Insurance Account (NEIA) Trust to diculties being encountered by
continue to be very crucial as exporting provide insurance support to large value our exporters. ECGC is also looking
without suitable credit insurance is projects in high risk countries, which forward to a reasonably good growth in
fraught with nancial and business are beyond underwriting capacity of the business in FY 2016-17 by making credit
risks. Also the cover enabled banks to Corporation. insurance more easily accessible for the
continue to lend to exporters. During exporters. In the International arena of
FY 2015-16, ECGC paid out 439 claims Dwelling on the nancial results of credit insurers, ECGC had the privilege of
worth ` 127.32 Crores to exporters the Corporation for 2015-16, holding Chairmanship of Regional
under direct policies and 172 claims Mrs. Geetha Muralidhar mentioned Co-operation Group of Berne Union
worth ` 995.52 Crores to nancing that the Corporations nancial results which is an association of 73 ECAs
banks under Export Credit Insurance during the year were highly satisfactory. (Export Credit Agencies) worldwide.
Covers issued to Banks. Major sectors After making adequate provisions
under which the claims arose are gems for pending claims and as per IRDA
& jewellery, readymade garments, guidelines in respect of impending risks
agricultural products, synthetic yarn, on 31.03.2016, the Corporation earned
engineering goods, chemicals, marine a PBT of ` 387.35 Crores registering a
products & leather.
INDIAS TOP 500 COMPANIES XV
Altran India
1700
Innovation
Makers
Sanjay Kumar
CEO & MD
7 offices
across 5 cities

Over 12 years
of experience
in India
Energy, Aerospace,
Oil & Gas Railways
/Altran
XVI
India /Altran India INDIAS TOP 500 COMPANIES
.com/co.in
ECONOMY UPDATE
Overview of the Indian Economy
Eight years after the global financial meltdown, the world economic recovery still remains fragile. The
slowdown in China has aggravated the cooling-off of the growth momentum of the some emerging countries
with ramifications spreading out to the other parts of the world as well. In the midst, while India was touted
as the bright spot on world economic growth map, the wheels of economic recovery, which was much
anticipated to have started rolling on by the year, seems to have pulled the brakes on various fronts. Data
emanating from various economic indicators points towards subdued growth and rising inflation. Given
the drought and low water reservoir levels in various states, the agriculture output critically hinges on a
normal and spatial distribution of monsoon. The foods prices remain elevated and headline WPI inflation
has also turned positive in the month of April 2016. While there are rising apprehension of global oil prices
to remain higher than the last year level, the inflation trajectory in India during the year will largely depend
on the overall food production and the general demand scenario.
Animal spirits in the industrial sector remains low. With low capacity utilization rate, new orders received
by the manufacturing sector in FY16 remained low as compared to the peak levels observed in 2013-14
(RBI OBICUS survey). A similar trend was also witnessed in the Business Optimism Index survey (industry
and services sector) done by Dun & Bradstreet. This also indicates slow recovery in the investment demand,
unless the government expenditure gets rolling, especially in the areas it had promised during the budget.
The manufacturing growth is beleaguered by bleak exports, poor demand (more so in the rural sectors),
high borrowing cost, and projects stuck at various levels. Exports have encountered a consecutive 17 month
of contraction. However, the flow of funds remains weak not only due to the weak credit off-take by the
industry but also due to the overall state of the banking sector and rising risk aversion. The Indian banking
system is struggling to come out from the significantly high non-performing assets, which is even expected
to increase during the year.
The only ray of hope for the sustained revival of the Indian economy would arise from the strong inertia
from the government on the execution of reforms and expenditure on infrastructure. Though termed as
incremental efforts, the government has transformed the global investors perceptions about India. FDI
limit has been liberalized in many sectors. FDI rose to a record in 2015 since 2009. Deregulation of fuel
prices, auctioning off coal and telecommunications licenses in an open and transparent way, creation of a
real estate regulator, redrawing its treaty with Mauritius, passage of the Bankruptcy and Insolvency law and
increase in productivity in the parliament only paves the way for the execution of more aggressive reforms
in the year ahead.
Key Highlights
Economy Update
Real Sector
Growth in Index of Industrial Production moderated to mere 0.1% (y-o-y) during Mar-16 as against
2.0% during Feb-16.
Growth in industrial activity was dragged down by decline in activity of mining and manufacturing
sectors. IIP for mining and manufacturing sectors contracted by 0.1% and 1.2% respectively during
Mar-16.
Electricity sector, on the other hand, clocked a significant growth of 11.3% during Mar-16, providing
some support to the overall IIP growth.
During FY16, growth in IIP moderated to 2.4% from 2.8% in the previous fiscal.
INDIAS TOP 500 COMPANIES XVIII

Overview of the Indian Economy
Price Scenario
WPI registered a growth of 0.3% (y-o-y) in Apr-16, after declining consistently for 17 months since Nov-
14.
The rise in WPI inflation was mainly due to surge in prices of food articles. During Apr-16, inflation in
food articles rose to 4.2% as against 3.7% in the previous month.
CPI inflation surged to 5.4% during Apr-16 as against 4.8% in Mar-16. CPI inflation in rural and urban
areas also soared to 6.1% and 4.7% respectively in Apr-16.
Money & Finance

The aggregate deposit and bank credit grew by 9.3% (y-o-y) and 9.2% (y-oy) respectively in the week
ended Apr 29, 2016 as against a growth of 11.6% and 10.0% in the year-ago period.
During FY16, deployment of bank credit to services (9.1%), personal loans (19.4%) and priority sector
(10.7%) increased as against a growth of 5.7%, 15.5% and 9.9% respectively during FY15, whereas
deployment to the agriculture remained flat at around 15.0% during the same period.
External Sector
Indias exports and imports declined by 6.7% (y-o-y) and 23.1% (y-o-y) to around US$ 20.6 bn and US$
25.4 bn respectively during Apr-16 leading to a moderate trade deficit of US$ 4.8 bn.
Non-oil imports declined by 22.8% to around US$19.8 bn during Apr-16, whereas oil imports declined
by 24.0% to around US$ 5.7 bn.
External Commercial Borrowings (ECB)/ Foreign Currency Convertible Bonds (FCCB) stood at around
US$ 24.4 bn during FY16, registering decline for the second year in a row to 14.1% on a y-o-y basis.
FII invested at around US$ 2.2 bn during Apr-16 as against an inflow of around US$ 3.0 bn in Mar-16.
Source: The entire section has been reproduced from May 2016 edition of Dun & Bradstreet Economy Observer.
Economy Update
INDIAS TOP 500 COMPANIES XIX

Insights
Changing Face of Top 500 Companies
Overview of Top 500 Companies
Quarterly Update
Changing Face of
Top 500 Companies
FY15 was a year of change for the Indian economy, with a new and stable government coming to power
at the Centre. Towards the end of the year, the market reacted positively in anticipation of the change in
administration. During the year, the Indian economy demonstrated resilience in a global environment that
of rising financial stability risks and sluggish demand. Among the emerging economies that grappled with
falling commodity prices, tight liquidity conditions and structural constraints, India saw some degree of easing
of inflation and continuing fiscal consolidation. In FY15, Indias real GVA at basic prices grew by 7.1% over
a 6.6% growth in FY14. The growth was driven by private consumption and supported by fixed investment.
The Current Account Deficit to GDP ratio shrunk from 1.7% to 1.3% during the same period.
This section analyses the key performance aspects of Indias Top 500 companies across five editions of the
publication, i.e. five financial years FY11 to FY15.
Total Income and Market Cap Reflect Healthy Growth over Past Five Editions
Over the past five editions of the Indias Top 500 Companies publication, the aggregate value of total income
and average market capitalisation grew at a healthy CAGR of 9.2% and 10.6% per annum, respectively. As per
the current 2016 edition of the publication, the aggregate total income and average market cap stood at `
50,558 bn and ` 89,968 bn, respectively. The aggregate value of net profit, however, grew by a modest 4.7%
per annum over the corresponding period. The subdued growth in profits is a reflection of the moderation
that companies have been facing on their margins against a backdrop of subdued industrial activity, high
consumer price inflation and interest rates, sluggishness in the services sector, weakening private consumption
and investment demand. This is evident through the fact that there were 32 loss-making companies in FY14
and 39 in FY15.
Aggregate Financial Indicators of Top 500 Companies over five editions
90,000 4,500
Total Income and Avg Mkt Cap (` bn)
4,000
75,000
3,500
60,000 3,000
PAT (` bn)
2,500
45,000
2,000
30,000 1,500
1,000
15,000
500
0 -
2011* 2012* 2014 2015 2016
Total Income Average Mkt Cap PAT Linear (PAT)
Source: Dun & Bradstreet Research

*Prior to the 2014 edition, editions were named according to the financial year being covered
Increasing Prominence of Private Sector Companies

The number of public sector companies appearing in the last five editions of the Indias Top 500 Companies
publication has largely remained unchanged. However, their contribution to the aggregate value of certain
parameters has declined over the same period. For instance, the contribution of PSUs in the aggregate
market capitalisation of the set of companies constituting Indias Top 500 Companies declined sharply from
34.3% in the 2011 edition to as low as 19.6% in the current 2016 edition, while their share in the aggregate
value of net profit declined from 39.6% to 33.5% over the same period. Nevertheless, it is a noteworthy fact
that the public sector, which accounts for merely 14% of the universe of Top 500 Companies, contributes to
around 40% of the aggregate total income and PAT.
INDIAS TOP 500 COMPANIES XXVIII

The share of private companies in the aggregate market capitalisation of Indias Top 500 Companies increased
from 65.7% in the 2011 edition to a phenomenal 80.4% in the 2016 edition. Private sector companies share
in the aggregate net profit increased from 60.4% in the 2011 edition to 66.5% in the 2016 edition. Their
share in the aggregate total income, however, has largely remained range-bound at around 55%.
Ownership-wise Composition
Number of Companies
2011 edition* 2012 edition* 2014 edition 2015 edition 2016 edition
Public sector companies 70 71 70 69 71
Private sector companies 430 429 430 431 429
Contribution to Aggregates Public Sector vs Private Sector
Public Sector Private Sector

50% 90%
45%
80%
40%
35% 70%
30% 60%
25%
50%
20%
15% 40%
2011 2012 2014 2015 2016 2011 2012 2014 2015 2016
edition* edition* edition edition edition edition* edition* edition edition edition
Share in Total Income (%) Share in PAT (%) Share in Total Income (%) Share in PAT (%)
Share in Market Cap (%) Share in Market Cap (%)

Source: Dun & Bradstreet Research, BSE
Gradual Progression of Small Cap Companies to Mid and Large Cap

For the purpose of analysis, the set of companies constituting Indias Top 500 Companies has been
segregated on the basis of their market cap viz; large-cap, mid-cap, and small-cap, based on the widely
used 80:15:5 principle,
basis the average
market capitalisation.
In terms of market cap-
wise composition, small
cap companies have
h i sto r i ca l l y h a d t h e
largest representation
among Indias Top 500
Companies. However, it
is noteworthy that the
number of small cap
companies has been
steadily declining over
the years. Over the past
five editions of the Indias
To p 5 0 0 C o m p a n i e s
INDIAS TOP 500 COMPANIES XXIX

publication, the number of small cap companies has declined from 194 companies in the 2011 edition to
177 in the 2016 edition. In contrast, the number of mid cap companies has risen from 185 in the 2011 edition
to 191 in the current edition, and the number of large companies has increased from 121 to 132 during the
same period. This trend indicates the progression of companies to higher levels in terms of market cap.
Market cap-wise Composition
500
121 115 116 120 132
Number of Companies
400
185 174 183 188
300 191
200
194 211 201 192 177
100
0
2011 2012 2014 2015 2016
Editions
Small cap Mid cap Large cap
Healthy Growth in Market Capitalisation of Top 500 Companies

Over the past five editions of the Indias Top 500 Companies publication from 2011 to 2016, the aggregate
value of the average market capitalisation grew at a CAGR of 10.6%. Interestingly, the aggregate average
market capitalisation had witnessed a 7.6% decline in FY12 (2012 edition), which can be attributed to
concerns about macroeconomic issues like high inflation, high interest rates, a depreciating rupee and
policy uncertainties. However, from that period onwards, the average market capitalisation bounced back
in subsequent editions.
Average Market Cap to GDP
100,000 90%
90,000 80%
80,000 70%
70,000
Avg Mkt Cap (` bn)
60%
Share in GDP (%)
60,000
50%
50,000
40%
40,000
30%
30,000
20,000 20%
10,000 10%
- 0%
2011* 2012* 2014 2015 2016
Average Market Cap (Rs bn) Share in India's GDP (%)
Source: Dun & Bradstreet Research, RBI, BSE

During FY14 (2015 edition), the aggregate value of the average market capitalisation of the Top 500 companies
jumped by a sharp 33.1% to ` 76,806 bn, in the wake of improved scenario of global financial markets and
exchange rate adjustments, policy measures and anticipation of electoral outcomes in the domestic scenario.
INDIAS TOP 500 COMPANIES XXX

The 2016 edition (FY15) also saw a sharp rise in the aggregate average market capitalisation to ` 89,968 bn
(17.1% rise), which can be perceived as a positive response to a stable government at the centre, a series
of long-pending policy reforms and several other proactive steps taken to improve governance and simplify
procedures. The share of the aggregate average market capitalisation of the Top 500 companies as per the
2016 edition stands at 72% of Indias GDP at market prices (base year 2011-12).
Service Sectors Play Dominant Role in Driving Market Cap Growth

The companies constituting the set of 500 companies featuring in the 2016 edition of the Indias Top 500
Companies publication have been categorised into 55 sectors (including the residual others category).
Of the top 10 sectors contributing to the aggregate market capitalisation, service sectors, namely Banks,
Software and ITeS and FIs/NBFCs/Financial Services feature among the top four. In the 2016 edition (FY15),
these three sectors together account for 31.8% of the aggregate value of average market cap, 38.8% of
the aggregate net profit, and about 26.9% of the aggregate total income. In the 2011 edition (FY11), their
contribution to the aggregate values of average market cap, net profit and total income stood at 26%, 30%
and 19.5%, respectively. According to the table below, these sectors reflect a healthy CAGR in terms of
growth in all three parameters (except for banks net profits).
Most Valuable Sectors of Top 500 2016* (% share in aggregate)

Sectors 2016 2015 2014 2012* 2011* CAGR

Banks
Contribution:-
to Avg Mkt Cap 13.5 12.9 13.3 12.6 12.4 12.8
to Total Income 19.1 17.2 16.5 15.4 14.5 17.0
to Net Profit 18.2 17.2 21.2 19.8 18.0 5.0
Software and ITeS
Contribution:-
to Avg Mkt Cap 12.9 13.5 10.3 10.1 9.1 20.7
to Total Income 4.7 4.1 3.5 3.4 3.1 20.6
to Net Profit 12.9 12.3 9.3 8.8 7.4 20.2
Pharmaceuticals
Contribution:-
to Avg Mkt Cap 7.8 6.2 5.2 4.5 3.9 32.0
to Total Income 1.9 1.6 1.6 1.7 1.7 13.0
to Net Profit 3.1 3.1 2.4 1.5 3.1 4.3
FIs/NBFCs/Financial Services
Contribution:-
to Avg Mkt Cap 5.5 4.7 4.5 4.2 4.5 16.1
to Total Income 3.1 2.6 2.3 2.1 1.8 24.4
to Net Profit 7.7 6.7 6.3 5.5 5.0 16.7
Oil - Refining and Marketing
Contribution:-
to Avg Mkt Cap 5.4 6.0 6.4 7.1 8.2 -0.4
to Total Income 25.4 30.9 29.3 29.0 27.9 6.8
to Net Profit 8.0 8.8 7.4 9.8 9.9 -0.7
INDIAS TOP 500 COMPANIES XXXI

Sectors 2016 2015 2014 2012* 2011* CAGR

FMCG
Contribution:-
to Avg Mkt Cap 4.4 3.7 4.8 3.8 3.0 21.7
to Total Income 1.2 17.2 1.5 1.3 1.4 3.9
to Net Profit 1.8 1.7 2.4 2.0 1.8 5.3
Automobiles
Contribution:-
to Avg Mkt Cap 4.0 3.7 3.1 2.6 2.4 25.8
to Total Income 3.0 2.8 3.2 3.3 3.5 4.4
to Net Profit 0.7 1.8 1.7 1.8 2.3 -22.1
Power
Contribution:-
to Avg Mkt Cap 3.4 4.0 5.2 5.9 6.7 -6.3
to Total Income 3.7 3.4 3.1 3.0 3.5 10.8
to Net Profit 6.3 6.2 5.9 6.0 5.8 6.9

Oil & Gas Exploration
Contribution:-
to Avg Mkt Cap 3.4 5.3 5.8 4.8 4.9 1.3
to Total Income 2.1 2.2 2.3 2.1 2.3 7.4
to Net Profit 5.9 8.1 8.5 7.2 6.5 2.2
Cigarettes
Contribution:-
to Avg Mkt Cap 3.0 3.6 3.7 2.9 2.1 21.6
to Total Income 0.8 0.7 0.7 0.6 0.7 14.6
to Net Profit 2.4 2.2 2.1 1.8 1.5 17.4
*Selection of most valuable sectors is based on the contribution to average market cap in FY15
The market cap of the pharmaceuticals sector grew at a rate of 32% per annum over five editions and its
share in the aggregate market cap doubled from 3.9% in the 2011 edition to 7.8% in the current one. On
the other hand, although the Oil Refining and Marketing sector continued to account for more than one-
fourth of the aggregate total income, it reflected a decline in both, market cap as well as net profits over the
corresponding period. The FMCG and Automobiles sectors reported a healthy 20-25% growth per annum
in their average market cap during this period, although the latters net profits fell to less than 40% of the
value reported in FY11. The cigarettes sector exhibited a healthy CAGR growth in all parameters.
Share of Top 500 Companies in Indias Overall Exports Contracts in FY15

In all the past editions (barring the 2009 edition), the share of Dun & Bradstreets list of Indias Top 500
companies in the countrys overall exports consistently stood at over 30%. In FY15 (2016 edition), however,
their share contracted to 27.5%. Amongst the Top 500 companies, the sector that witnessed the steepest
decline in exports was Oil Refining & Marketing. This was largely due to a steep fall in global oil prices.
Other sectors that reported a sharp decline in exports were Oil & Gas Exploration, Engineering Projects/
Capital Goods, Food Products and Iron & Steel.
Between the 2011 and 2016 editions of the publication, Indias overall exports grew at a CAGR of 13.7%,
while the exports of Top 500 companies grew by a slower 9.8% per annum.
INDIAS TOP 500 COMPANIES XXXII

Export Performance of Top 500 Companies
10,000.0 31.7 32.0

31.6
9,000.0
30.6 31.0
8,000.0 30.5
7,000.0 30.0
% Share
in ` Bn.
6,000.0 29.0
5,000.0
4,000.0 28.0
27.5
3,000.0 27.0
2,000.0
26.0
1,000.0
0.0 25.0
2011 2012 2014 2015 2016
Exports of Top 500 Companies % Contribution of Top 500 to India's Exports
Source: Dun & Bradstreet Research, India Budget
Rising Interest Expenses Dent Margins

In line with overall industry trends, the margins of Top 500 companies have contracted over the past five
editions. The profit margin calculated on the basis of the collective total income and net profit of all Top 500
companies taken together contracted from more than 9% in FY11 (2011 edition) to less than 8% in FY15. Over
the past five editions, net profit of Top 500 companies has grown at a modest CAGR of 4.7% per annum, in
spite of a faster 9.2% per annum growth in total income. The major expense head is raw materials, stores &
spares (33-36% of total income), which rose at 8.8% per annum. Interestingly, raw material expenses reflected
a decline of 20.5% and 10.5% in FY14 and FY15, respectively. On the other hand, employee costs and interest
expenses rose by a sharp 15.4% per annum and 20.1% per annum, respectively, over the past five editions.
Interest expenses, in particular, have risen rapidly over the past five editions, with their proportion in total
expenses expanding from 11.5% in the 2011 edition to 15.3% in the 2016 edition.
INDIAS TOP 500 COMPANIES XXXIII

Financial Performance of Top 500 Companies
Top
500 Top 500 2012 Top 500 2014 Top 500 2015 Top 500 2016 CAGR
2011
y-o-y y-o-y y-o-y y-o-y
in ` bn in ` bn in ` bn in ` bn in ` bn
% % % %
Income
Turnover 30,845 37,680 22.2 40,495 7.5 42,006 3.7 40,215 (4.3) 6.9
Total Income 35,532 43,490 22.4 47,065 8.2 51,109 8.6 50,558 (1.1) 9.2
Expenses
Raw Material, Stores & Spares 11,795 15,343 30.1 23,267 51.6 18,486 (20.5) 16,553 (10.5) 8.8
Employee Costs 2,142 2,498 16.6 3,077 23.2 3,485 13.3 3,794 8.9 15.4
Interest Expenses 3,623 5,211 43.8 6,195 18.9 6,927 11.8 7,527 8.7 20.1
Total Expenses 31,408 39,063 24.4 42,167 7.9 49,949 18.5 49,352 (1.2) 12.0
Net Profit 3,347 3,521 5.2 3,639 3.3 4,004 10.0 4,029 0.6 4.7
Net Profit Margin (%) 9.4 8.1 7.7 7.8 8.0
Software & ITeS Sector Emerges as Top Equity Dividend Paying Sector
In the past five editions of the Indias Top 500 Companies publication, the Banks, Oil & Gas Exploration,
Software & ITeS, Coal, Power and FMCG sectors have been the highest contributors in terms of payment of
equity dividend among Top 500 companies. In the 2016 edition (FY15), the Software & ITeS sector emerged
as the topmost sector in terms of equity dividend payment with a share of 23.1%. Banks (10.3%) and Oil &
Gas Exploration (7.6%) also contributed significantly. The top six sectors collectively paid 57.4% of the total
equity dividend paid by Top 500 companies during the year.
INDIAS TOP 500 COMPANIES XXXIV

Contribution of Top Equity Dividend Paying Sectors to Total Dividend of Top 500 Companies (%)
2016 edition 2015 edition 2014 edition 2012 edition 2011 edition
Software and ITeS 23.1 9.7 9.2 7.7 10.7
Banks 10.3 9.6 14.4 15.6 14.0
Oil & Gas Exploration 7.6 8.2 11.1 10.8 9.7
Coal 9.1 12.7 8.1 7.3 3.0
Power 4.1 5.8 7.7 4.5 7.5
FMCG 3.2 3.0 5.6 4.0 3.7
Total 57.4 48.9 56.1 49.9 48.6
147 Companies have Featured in all Editions of Indias Top 500 Companies Publication Series
The 2016 edition of Dun & Bradstreets premier publication Indias Top 500 Companies includes 147
companies which have featured in all editions thus far. It is only apt to label these companies as consistent
performers, considering the fact that they have been able to sustain their position over the years, amid
tough competition.
The set of 147 companies that has been consistently featuring

in Dun & Bradstreets Top 500 publication accounted for a
phenomenal 71.2% of the aggregate market capitalisation
and almost 70% of the aggregate values of total income
and net profit in the 1997 edition. By the 2016 edition,
however, their share in all three parameters contracted
to 53.2% of the aggregate market capitalisation, 58.5% of
the aggregate total income and 46.9% of the aggregate net
profit. Notwithstanding the decline in contribution, these
147 companies have still managed to hold onto a lions
share among the universe of Top 500 Companies. These 147
companies have grown consistently over the years. They
recorded a CAGR of 16.1% in market capitalisation, 14.1%
in aggregate total income and 12.9% in aggregate net profit
between the 1997 and 2016 editions of the Indias Top 500
Companies publication.
Of these 147 companies, 32 are PSUs and 115 are private

companies. The PSUs among these 147 companies grew at a
healthy rate of 13.6% per annum in terms of collective total
income and around 10-11% per annum in terms of aggregate market capitalisation and net profit. Private
companies, however, grew faster, recording an 18.5% per annum growth in terms of aggregate average
market capitalisation and 14-15% per annum growth in total income and net profit.
Comparative Analysis of 147 Consistently Featuring Companies
Average Market Cap Total Income Net Profit

1997 2016 1997 2016 1997 2016
CAGR CAGR CAGR
Edition Edition Edition Edition Edition Edition
(%) (%) (%)
(` mn) (` mn) (` mn) (` mn) (` mn) (` mn)
Private Companies 1,788,172 37,990,588 18.5 1,105,773 13,276,291 14.8 100,210 1,252,938 15.1
Public Companies 1,474,172 9,860,059 11.1 1,636,890 16,276,440 13.6 112,564 635,919 10.1
All 147 Companies 3,262,344 47,850,647 16.1 2,742,663 29,552,731 14.1 212,775 1,888,857 12.9
INDIAS TOP 500 COMPANIES XXXV

Overview of
Top 500 Companies
This section includes the key analytical observations and trends of Dun & Bradstreets Indias Top 500
Companies. These insights are derived from the comparison of financial performance during FY15 and FY14
of the Top 500 companies in India which have featured in current edition of publication. The publication
features companies listed on the BSE and/or NSE, which are categorised on the following parameters for
analytical purposes:
Sector-wise classification into 55 different sectors (including others and diversified)
Segregated on the basis of their Market cap viz; Large-cap, Mid-cap, and Small-cap, based on the widely
used 80:15:5 principle, basis the average market capitalization.
Ownership/Market Cap-wise share of companies in Top 500
Type Private Public Total

Small-cap 167 10 177
Mid-cap 156 35 191
Large-cap 106 26 132
Total 429 71 500
The Top 500 companies comprise of 132 large-cap companies with average market capitalisation of ` 119.2
bn or more; 191 mid-cap companies having average market capitalisation between ` 116.9 bn and ` 21.5
bn; 177 small-cap companies with average market capitalisation below ` 21.5 bn.
37 new entrants debut in Top 500 2015

The 2016 edition of Indias Top 500 companies witnessed
the debut of 37 new companies as compared to 51 new
companies in the last edition. These debutant companies are
across various sectors. Majority of the new entrants belong
to the following sectors including; textiles (6 nos) and auto
components (3 nos). Among the 37 new entrants, one is a
large-cap company while 14 are mid-cap companies and 22
belong to the small-cap category.
During FY15, these 37 new entrants outperformed Top 500

companies in terms of total income and net profit growth.
During FY15, the total income of these debutants grew
by 8.1% while their net profit declined by 7.4%, as against
the overall Top 500 companies which witnessed an income
growth of 2.8% and profit growth of 4.6% during FY15. Indian
total exports increased marginally by 0.2% during FY15 on
the back of global economic slowdown. Pressure exerted by
the subdued global economic activity also dented the export
performance of all the featured Top 500 companies. Export
revenue of all the featured Top 500 companies declined
marginally by 5.4% during FY15 as compared to the growth
of 15.7% during FY14. Export revenue of new entrants on the other hand grew marginally by 2.9% during
FY15 as compared to the growth of nearly 43% during the last year.

INDIAS TOP 500 COMPANIES XL

Top 500 companies clock a growth of 18% in their Average Market Capitalisation in the 2016 edition
In the 2016 edition, the average market capitalization of Top 500 companies stood at ` 89,967.7 bn as
compared to ` 76,173.4 bn during the same period last year, registering a growth of over 18%. In addition,
approximately 121 companies witnessed a drop in their average market cap. These 121 companies lost
nearly ` 2,912.0 bn in their average market cap during FY15. The remaining 379 companies gained nearly
` 16,705.3 bn in their average market cap during FY15.
The top 10 sectors, mentioned in the table below, contributed to more than 63% to the total average
market cap of all 500 companies. Of the top 10 sectors, top five sectors accounted for over 45% of the total
market cap. Banks and Software & ITeS emerged as the highest contributors with 13.5% and 12.9% share
respectively in the total market cap.
Top 10 Sectoral Contributors to Average Market Cap of Top 500 companies
Avg Market Cap Avg Market Cap Contribution to Total

Growth
Sectors 2015 Edition 2016 Edition Market Cap in 2016
(%)
(` Mn) (` Mn) Edition (%)
Banks 9,769,916.9 12,104,849.4 23.9 13.5
Software and ITeS 10,358,737.8 11,640,570.8 12.4 12.9
Pharmaceuticals 4,760,704.4 7,049,039.4 48.1 7.8
FIs / NBFCs / Financial Services 3,829,715.1 4,908,296.1 28.2 5.5
Oil - Refining and Marketing 4,482,052.8 4,843,185.2 8.1 5.4

FMCG 2,810,705.5 3,924,396.4 39.6 4.4
Automobiles 2,815,492.1 3,554,756.1 26.3 4.0
Power 3,090,838.1 3,095,263.6 0.1 3.4
Oil & Gas Exploration 4,059,438.8 3,078,153.1 (24.2) 3.4
Cigarettes 2,795,973.7 2,712,764.4 (3.0) 3.0
Despite the positive economic indicators, Top 500 companies witness moderation in income and profit
growth
Gross Domestic Product (GDP) growth which had plummeted to sub 5% levels in the past two fiscal years,
bounced back on macro-economic stability, reforms introduced, and a strong mandate of current government
to introduce decisive economic change. The growth in real GVA at basic prices, though not spectacular,
has moved comfortably to 7.1% in FY15 compared to 6.6% in FY14. The macroeconomic improvement
and consequent turnaround in the investor sentiments were spurred by governments policy actions on
environmental clearances; mining licenses and a thrust to restart the stalled projects.
Inflation rate and inflationary pressures reduced beyond the target set by the Reserve Bank of India (RBI)
due to decline in international commodity prices, especially the crude oil prices. This led to initiation of the
monetary policy easing the cycle from the last quarter of FY15. Despite these positive economic indicators,
Indias leading corporates faced a severe stress on their earnings and profitability. The decline in aggregate
corporate performance can be attributed to a number of reasons including corrections in commodity prices,
global deflation of manufactured products coupled with surplus capacity in the domestic market, falling
domestic (industrial and consumer) and global demand.
INDIAS TOP 500 COMPANIES XLI

Consequently, total Income (TI) of the Top 500 companies slowed down to 2.8% in FY15, compared to 9.9%
in FY14. The Profit after Tax (PAT) of the Top 500 companies grew by 4.6% in FY15 compared to 3.2% in
FY14, indicating the nearly flat growth in profitability of the Top 500 companies during FY15. Further, the
number of loss making companies increased from 32 in FY14 to 39 in FY15, indicating the deterioration in
the performance of corporate India amidst volatility in the external environment.
The top 10 sectors, which contribute significantly to the income, include automobiles, banking, oil refining
& marketing, software & ITeS, power, iron and steel, FIs/NBFCs/financial services, telecom services, oil & gas
exploration, gas processing, transmission & marketing, accounting for almost 69% of aggregate income
of Top 500 companies.
Income-wise Top 10 contributing sectors (FY15)
Contribution to
Total Income Total Income Growth
Sectors Overall TI in FY15
FY14 (` Mn) FY15 (` Mn) (%)
(%)
Oil - Refining and Marketing 15,376,073.4 13,942,793.5 (9.3) 26.1
Banks 8,808,157.9 9,756,580.6 10.8 18.3
Power 1,774,848.6 1,906,234.5 7.4 3.6
Iron and Steel 1,773,791.9 1,815,200.5 2.3 3.4
Automobiles 1,549,820.3 1,635,201.1 5.5 3.1

FIs / NBFCs / Financial Services 1,381,902.2 1,587,431.3 14.9 3.0
Telecom Services 978,717.6 1,158,893.3 18.4 2.2
Oil & Gas Exploration 1,193,575.6 1,138,182.6 (4.6) 2.1
Gas - Processing, Transmission and Marketing 1,109,346.2 1,126,046.5 1.5 2.1
From among the top 10 contributing sectors, the sectors having witnessed a slowdown in their income
growth during FY15 include oil refining & marketing and oil & gas exploration. The total income from the
oil refining & marketing sector declined by 9.3% while that of oil & gas exploration sector declined by 4.6%
in FY15 as compared to FY14. This was mainly due to decline in international oil prices which had a direct
impact on the Indian oil - refining & marketing and oil & gas exploration companies.
The slowdown in the overall business sentiments impacted the finance raised by the Top 500 companies
during FY15. The total borrowings by the Top 500 companies increased by 8.3% in FY15 compared to a
growth of 13.0% in FY14.
Mid-cap companies outperform their peers in terms of income growth while Large-cap companies score
in profit growth
During FY15, large-cap companies contributed to over 72% of the total income of the Top 500 companies,
followed by mid-cap companies at 19.3%. In terms of y-o-y growth, total income of mid-cap companies grew
at a rate of 6.2% in FY15 as compared to the growth of 1.8% and 4.2% witnessed by large-cap and small-cap
companies, during the same period. However, in terms of net profit, net profit of large-cap companies grew
by 5.4% in FY15 as compared to 4.2% in FY14, while that of mid-cap companies grew by 2% while that of
small-cap companies declined further by 11.8%.
INDIAS TOP 500 COMPANIES XLII

Private sector companies score over public sector companies on TI and net profit growth
71 public sector companies which form the part of Indias Top 500 companies in FY15, accounted for a
share of more than 40% in the total TI of Top 500 companies as against 431 private sector companies which
accounted for almost 60% share in the overall income. The total income growth of public sector companies
remained flat in FY15 over FY14 compared to private sector companies whose TI increased by 9.2% in FY15
as compared to FY14.
In case of the public sector companies which are forming the part of the Top 500 2015, net profit declined
by 5.7% as compared to private sector companies whose profit grew by 10.7%.

Top 500 companies account for over 27% of Indias total exports
The contribution of total exports of the Indias Top 500
companies (excluding banks and coal & coal product
companies) to Indias overall exports declined marginally
from 29% in FY14 to 27.4% in FY15. The Top 500 companies
also witnessed a slowdown in their exports orders during
FY15 on account of global economic slowdown. The export
revenue of Top 500 companies declined by 5.4% in FY15 as
compared to the growth of 15.7% in the year before.
The Top 10 sectors contributing to exports accounted for

more than 80% of the total exports by the Top 500 companies,
excluding banks and coal & coal product companies. Of the
top 10 sectors, oil-refining & marketing and software &
ITeS sectors alone accounted for nearly 69% of the exports
by the Top 500 companies. The impact of global economic
slowdown on the Top 500 companies can be seen through
the export performance of top 10 sectors. Of the top 10
sectors contributing to the exports of Top 500 companies,
six sectors witnessed a slowdown or decline in their export
revenue during FY15.
INDIAS TOP 500 COMPANIES XLIII

Export income-wise Top 10 contributing sectors (FY15)
Total Exports Total Exports Exports Growth Contribution to Total

Sectors
FY14 (` Mn) FY15 (` Mn) (%) Exports in FY15 (%)
Oil - Refining and Marketing 3,399,484.2 2,620,230.5 (22.9) 33.4
Pharmaceuticals 440,090.4 500,191.7 13.7 6.4
Gems and Jewellery 234,322.3 234,454.3 0.1 3.0
Non Ferrous & Precious Metals 156,276.6 209,927.1 34.3 2.7
Textiles 183,315.0 190,927.5 4.2 2.4
Iron and Steel 158,922.6 157,368.6 (1.0) 2.0
Oil & Gas Exploration 173,817.0 127,892.8 (26.4) 1.6
Automobiles 101,905.9 124,805.5 22.5 1.6
Engineering Projects/ Capital Goods 149,701.6 122,492.5 (18.2) 1.6

Moderate profit growth leads to moderation in the dividends paid by Top 500 companies in FY15
Despite the positive economic indicators, Indias leading corporates faced a severe stress on their earnings
and profitability, primarily due to corrections in commodity prices, global deflation of manufactured products
coupled with surplus capacity in the domestic market, falling domestic and global demand. This resulted
in slower income and profit growth of Indias Top 500 companies in FY15 as compared to FY14, thereby
impacting the dividends paid by these companies. The aggregate dividend paid the Top 500 companies
slowed down from 16.7% in FY14 to 13.2% in FY15.
Top 10 sectors as per dividend paid
Dividend paid Dividend paid Dividend Contribution to overall

PAT Growth
Sectors FY14 FY15 Growth Dividend in FY15
FY14 (%)
(` Mn) (` Mn) (%) (%)
Software and ITeS 6.26 160,937.5 394,775.3 145.3 23.4
Banks 7.83 154,543.8 169,361.5 9.6 10.0
Coal & Coal Products (10.12) 191,910.6 132,023.3 (31.2) 7.8
Oil & Gas Exploration (30.49) 138,220.4 131,947.5 (4.5) 7.8
FIs / NBFCs / Financial Services 10.83 92,050.2 100,154.1 8.8 5.9
Oil - Refining and Marketing (4.58) 77,792.0 84,074.1 8.1 5.0
Power 9.29 97,682.9 70,015.4 (28.3) 4.2
Cigarettes 9.31 56,315.7 60,796.3 8.0 3.6
FMCG 13.29 49,470.6 55,370.7 11.9 3.3
Pharmaceuticals 2.73 89,657.0 55,283.2 (38.3) 3.3

INDIAS TOP 500 COMPANIES XLIV

The Top 10 sectors contributing to dividend accounted for nearly 75% of the total dividends paid by the Top
500 companies. Of the Top 10 sectors, software & ITeS, banks, coal & coal products and oil & gas exploration
sectors alone accounted for nearly 50% of the dividends paid by the Top 500 companies. Dividend paid
by software & ITeS companies grew by over 145% in FY15 as compared to FY14, on back strong financial
performance and increased revenue from exports. Banks on the other hand, despite the increase in non-
performing assets, were generous in distributing the earnings amongst their shareholders. The dividend
paid by the banking sector grew by nearly 9.6% in FY15. Power sector which faced severe operational stress
due to unavailability of coal, distributed less dividend despite the growth in profit. The dividend paid by the
power sector declined by nearly 28%.
Public sector companies who witnessed a y-o-y decline in their net profit as compared to their peers in the
private sector, paid lower dividends compared to companies in the private sector. The public sector companies
accounted for 33% of the total dividend paid by Top 500 companies in FY15, as against 67% share of private
sector companies in the total dividends paid.
INDIAS TOP 500 COMPANIES XLV

Senrysa Technologies Private Limited
Winner of Flag Bearers of Financial Inclusion Award by the Economic Times of India.
Success of modern economy stands on strong and vigorous nancial

institutions. Lack of accessible, affordable and appropriate nancial
services has always been a problem globally. Financial access can
really boost the nancial condition and standard of life of the poor and
the disadvantaged. The central bank has been constantly encouraging
expansion of banking network leveraging upon the Information and
Communication Technology (ICT), says Mr Kumar P Saha
Kumar P Saha Business Operations setting up complex Financial

MD & CEO Inclusion Gateway such as a
Senrysa provides a vibrant
combination of strategic IT Biometric Enrollment System,
consultancy services and technical Central Authentication, Card
expertise. The company delivers a Management System and several
About the Company full range of application outsourcing, other applications.
Senrysa Technologies Pvt Ltd is a business process consulting, systems 2. Green Channel Banking
multi-skilled software and service implementation and integration,
professional services and focused Senrysas ATM Switch module
provider with a highly competent
solution frameworks. enables banks and processing
workforce. The company follows
companies to create a wide
world-class processes that help clients
The company helps enterprises service line via ATM Network,
manage through rapid changes
transform and thrive in a changing from cash withdrawals, mini
in technology. The journey started
world through strategic consulting, statements and balance enquiry.
with a mobility platform optimally
operational leadership, and the co- It uses communications and
designed to provide government
creation of breakthrough solutions, cryptography innovations,
payments to beneciaries in remote
including those in mobility, automates routine operations
and inaccessible rural India, virtually
sustainability, big data and cloud and provides users with
isolated from the mainstream
computing. convenient ATM management
economic system.
and monitoring tools.
Technological innovation has been Products Offered 3. eKYC
Senrysas primary passion, from 1. Branchless Banking
The UIDAI e-KYC service provides
inception. Senrysas mission has Platform
an instant, electronic, non-
been to devise solutions that would End-to-End Financial Inclusion
repudiable proof of identity and
deliver high quality services at a very Gateway from Senrysa
proof of address along with date
low cost to the end users. Senrysa Technologies delivers banking
of birth and gender. In addition,
always believed in relevance, services at affordable cost to
it also provides the residents
reliability, creativity and cost the vast sections of unbanked
mobile number and email
effectiveness as key drivers in their and under-banked population.
address to the service provider,
initiatives. With these commitments, This allows mainstream nancial
which helps further streamline
the company has striven to upgrade services like savings, withdrawal,
the process of service delivery.
its knowledge base, technology insurance, loans etc. to be
E-KYC may be performed at an
skills, and resource capabilities so accessible to these population
agent location using biometric
as to add signicant business value segments cost-effectively and
authentication, as well as
to clients. efciently. The package contains
remotely using an OTP on a
all the modules necessary for
website or mobile connection.
Key Achievements share platform with Banks & System CSR Initiatives
The company was one of the front- Integrators. Senrysa has been long associated
runners who presented trustworthy to the service of the rural masses
and fail-proof technology solutions in Recently, the company won a through technology solutions.
order to open up cheaper alternative prestigious assignment for providing The company felt strongly on the
channels of banking. It also built the nancial inclusion solution empowerment of rural women and
a vast delivery infrastructure with to micronance giant, which got considered it a corporate social
trained manpower to translate the a banking license from RBI. The responsibility to contribute to the
nancial inclusion dream of making solution was deployed on more cause. Senrysa has complete
growth inclusive in India, into a than 15,000 hand-held devices conviction that Empowering women
reality. integrated with the Core Banking to participate in economic life across
System for branchless banking. all sectors is essential for building
Senrysa obtained a strong ground stronger economies, to achieve
in technology industry for its Key Highlights universal goals of development and
unbeatable ICT solutions catering Senrysas business growth in the last sustainability and to improve their
to nancial inclusion in rural India. three years has been phenomenal. quality of life. Today, the company
Senrysas Aadhar Enabled Payment They recorded a 300% average takes pride that the majority of their
System (AEPS) made a mark in growth in turnover which speaks of workforce in rural area comprise of
technology industry and earned the condence and trust Senrysas women who have been excellent
national level acclamation for its clients did repose on them. The in their job, improved economic
high efciency and fail-free working companys product outreach has conditions of their families to a great
even when accessed from the also been quite fabulous; nearly a extent and also ultimately turned out
remotest parts of India. billion satised rural customers as to be the decision makers in their
of date and expanding everyday families.
Senrysa has brought the best proportionate to Senrysas name.
product for nancial service using
very low bandwidth communication
technology to the under banked
populace across India eventually
catering to the economic growth of
country. Senrysa secured an elevated
place in technology industry by its
far-reaching technology visions to
Quarterly
Updates
Top 500 Quarterly Updates
The year 2014-15 was positive for the Indian economy with Indias real GVA growing at 7.1%, compared to
6.6% in FY14. The growth was mainly due to strong policy measures and a favourable external environment.
The year 2015-16, which was expected to be more robust comes against the background of an unusually
volatile external environment with significant risks of weaker global activity and non-trivial risks of extreme
events such as natural disaster or terrorism. Slowdown in the Chinese economy coupled with substantial
decline in global prices of crude oil and metals had a significant impact on all economies. During FY16,
the Indian capital markets exhibited signs of moderation on fears of faltering global recovery. Amidst this
scenario, India still stands out as a region of economic stability and an outpost of opportunities. Despite
these positive indicators for FY15 and FY16, Indias leading corporates faced and continue to face severe
stress on their earnings and profitability.
Dun & Bradstreet has identified 498 companies from among Indias Top 500 companies who announced
their financial results for the first three quarters (June, Sept, and Dec) of FY16 and FY15. These companies
were considered for the purpose of analysis.
Corporate India displays subdued performance during 9M FY16

Despite the positive domestic economic indicators, factors arising due to volatile external environment
seemed to have an adverse impact on the performance of Indias Top 500 companies. The total income of
Top 500 companies declined by 4% during 9M FY16 as compared to 9M FY15, while their PAT declined by
2.9% during the same period.
Earnings Scorecard
Q-o-Q Comparison (% change over corresponding quarter in

9M Comparison (% change)
Parameters previous year)
Q1FY16 Q2FY16 Q3FY16 April-Dec 2015 April-Dec 2016
Total Income (3.5) (3.8) (4.5) 6.0% (4.0)
Net Profit 1.1 1.6 (13.8) 5.7% (2.9)
Source: Prowess, Dun & Bradstreet Research
Of the top 10 sectors with maximum contribution to the total income of Top 500 companies during 3Q FY16,
four sectors namely Oil Refining & Marketing and Iron & Steel witnessed a decline in their total income
growth during 3Q FY16 as compared to 3Q FY15.

Quarterly Updates
Income-wise Top 10 contributing sectors (3Q FY16)
Q-o-Q Comparison (% change over

9M Comparison
corresponding quarter in previous year)
Sector Name
3Q FY15 3Q FY16 %
Q1FY16 Q2FY16 Q3FY16
(` mn) (` mn) Change
Oil - Refining and Marketing (22.6) (27.2) (23.1) 10,271,054.2 7,778,280.9 (24.3)
Banks 8.9 8.2 6.5 7,106,460.8 7,664,084.8 7.8
Software and ITeS 9.3 16.0 9.0 1,773,400.3 1,975,764.7 11.4
Power (0.2) 7.2 (1.4) 1,422,462.9 1,449,274.5 1.9
FIs / NBFCs / Financial Services 13.4 15.3 6.0 1,149,261.6 1,281,338.5 11.5
Automobiles 10.8 13.7 16.0 1,092,210.0 1,239,999.4 13.5
Iron and Steel (11.8) (11.1) (15.9) 1,235,745.8 1,076,703.5 (12.9)
Telecom Services 9.4 (0.6) 6.6 802,637.3 842,126.2 4.9
Pharmaceuticals 0.9 18.5 18.4 737,984.9 826,506.7 12.0
Construction - Infrastructure Development 8.2 9.6 3.7 757,689.3 810,487.4 7.0
Source: Dun & Bradstreet Research, Prowess
INDIAS TOP 500 COMPANIES L

Top 500 Quarterly Updates
The total income of Top 500 companies in the Oil Refining & Marketing declined by 24.3% in 3Q FY16 over
3Q FY15. This was mainly due to the decline in international oil prices which had a direct impact on the
earnings of the Oil Refining & Marketing companies in India. The total income of the Top 500 companies
in the Iron & Steel sector declined by nearly 13% in 3Q FY16 which was mainly triggered by import of cheap
Chinese steel, global slump in steel demand and excess manufacturing capacity.
It would be noteworthy to know that of the top 10 sectors, which have highest contribution to the total
income of Top 500 companies, eight sectors witnessed a decline in their total income growth during Dec
quarter of FY16. Further, total income growth of all the 10 sectors in the first three quarters of FY16 witnessed
a decline as compared to the total income growth in FY15.
Comparison of FY15 total income growth vis--vis FY16 Quarter-on-Quarter total income growth
FY15 Growth Q1FY16 Growth Q2FY16 Growth Q3FY16 Growth

Sector Name
(%) (%) (%) (%)
Oil - Refining and Marketing (9.3) 9.0 (12.8) (2.4)
Banks 10.8 (3.0) 1.9 0.9
Software and ITeS 10.6 4.2 9.6 (3.7)
Power 7.4 0.5 5.5 (8.3)
Iron and Steel 2.3 (12.5) 6.1 (13.5)
Automobiles 5.5 (3.1) 4.4 2.9
FIs / NBFCs / Financial Services 14.9 (0.3) 8.6 (7.2)
Telecom Services 18.4 (12.3) 2.6 (1.2)
Oil & Gas Exploration (4.6) 1.2 (8.1) (11.0)
Gas - Processing, Transmission and Marketing 1.5 1.7 4.0 (13.1)
Despite the decline in profits, moderation in commodity prices buoys the profitability of the Top 500
companies
The total income of Top 500 companies declined by 4% during 9M FY16 as compared to 9M FY15, while their
PAT declined by 2.9% during the same period. Despite the decline in profits, the Top 500 companies were
able to report improved profitability on the back of softening of crude oil and commodity prices, which in
turn reduced the total expenses of the Top 500 companies. The total expenses of the Top 500 companies
declined by 3.9% during 9M FY16 as compared to 9M FY15 during which they grew by 5.6%.
Quarterly Updates

Quarter-on-Quarter Comparison of profitability of Top 500 companies
Q-o-Q Comparison (% change over corresponding quarter in

9M Comparison (% change)
Parameters previous year)
Q1FY16 Q2FY16 Q3FY16 April-Dec 2015 April-Dec 2016
Total Income (3.5) (3.8) (4.5) 5.9 (3.9)
Total Expenses (2.7) (5.8) (3.2) 5.6 (3.9)
PAT 1.1 1.6 (13.8) 5.8 (2.9)
NPM (%) 8.8 8.4 5.9 7.6 7.7
A number of geo-political factors were responsible for softening in commodity prices, which further translated
into the drop of crude oil price from $55 per barrel to almost $37 per barrel during CY2015. Further, the
iron ore prices reduced from $67 per metric ton to less than $40 per metric ton during CY2015, mainly
due to oversupply of ore from Chinese market. All these factors coupled with geo-political influences led
to the decrease in raw material cost thereby reducing the overall expenses of Top 500 companies, thereby
cushioning the profitability of the Top 500 companies.
INDIAS TOP 500 COMPANIES LI

Altran India
1700
Innovation
Makers
Sanjay Kumar
CEO & MD
7 offices
across 5 cities

Over 12 years
of experience
in India
Energy, Aerospace,
Oil & Gas Railways

Dun & Bradstreet
Corporate Awards 2016
Dun & Bradstreet Corporate Awards 2016
Sector Winners 2016
Agro Chemicals UPL Limited
Auto Components Bosch Limited
Automobile - Two/Three Wheelers Hero MotoCorp Limited
Automobiles Maruti Suzuki India Limited
Banks HDFC Bank Limited
Batteries Exide Industries Limited
Bearings SKF India Limited
Cement UltraTech Cement Limited
Chemicals Pidilite Industries Limited
Cigarettes ITC Limited
Coal & Coal Products Coal India Limited
Construction - Infrastructure Development Larsen & Toubro Limited
Consumer Durables & Appliances Whirlpool of India Limited
Electrical & Electronics Bharat Electronics Limited
Engineering Projects/ Capital Goods Siemens Limited
Fertilisers Tata Chemicals Limited
FIs / NBFCs / Financial Services Housing Development Finance Corporation Limited
FMCG Hindustan Unilever Limited
Food Products Britannia Industries Limited
Footwear Bata India Limited
Gas - Processing, Transmission and Marketing GAIL (India) Limited
Gems and Jewellery Titan Company Limited
Glass and Ceramics Kajaria Ceramics Limited
Hotels EIH Limited
Iron and Steel Tata Steel Limited
LVI INDIAS TOP 500 COMPANIES

Dun & Bradstreet Corporate Awards 2016
Sector Winners 2016
Media and Entertainment Zee Entertainment Enterprises Limited
Metal Products Jindal Saw Limited
Mining - Metals & Minerals Vedanta Limited
Non - Ferrous & Precious Metals Hindustan Zinc Limited
Oil - Refining and Marketing Reliance Industries Limited
Oil & Gas Exploration Oil and Natural Gas Corporation Limited
Packaging and Allied Activities Jindal Poly Films Limited
Paints Asian Paints Limited
Paper & Paper Products Tamil Nadu Newsprint and Papers Limited
Pharmaceuticals Lupin Limited
Plastic & Plastic Products The Supreme Industries Limited
Power NTPC Limited
Power Equipment ABB India Limited
Real Estate Prestige Estates Projects Limited
Retail Future Enterprises Limited
Shipping The Great Eastern Shipping Company Limited
Software and ITeS Tata Consultancy Services Limited
Specialty Oils and Lubricants Castrol India Limited
Sugar E.I.D.-Parry (India) Limited
Telecom Services Bharti Airtel Limited
Textiles Welspun India Limited
Transport and Logistics Container Corporation of India Limited
Tyres MRF Limited
Wood & Wood Products Century Plyboards (India) Limited
INDIAS TOP 500 COMPANIES LVII

Pincon Spirit Limited
Monoranjan Roy
Chairman & Managing Director
Company Background
The State Governments policy of issuing composite licenses made it possible for IMFL and IMIL manufacturers
to market their products from the same retail points. This open market approach increased the throughput of
liquor brands and products through retail outlets. Besides, the very classification of the points of liquor sale was
extended to clubs, bars and hotels. Pincon was among the first liquor companies in West Bengal to recognise
the implications of this reform. The Company invested aggressively, creating its first IMFL bottling capacity in
2013 widened its footprint across 21 districts of West Bengal. It launched more brands. It invested in facilities
that enhanced IMIL acceptability, eliminating the odour usually associated with this product following the use
of grainbased ENA. The result is that Pincons first-movers advantage has helped it acquire a leading market
share and enhance revenue visibility.
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Company Snapshot
Background Management
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t 0WFS UIF EFDBEF 1JODPO IBT FNFSHFE BT B MFBEJOH senior management team who are supported by 90+
player in blending, bottling and distributing proprietary employees.
IMFL and IMIL products.
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oils in the FMCG segment.
Facilities Brands
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Twin revenue engines: The Companys revenues are being driven by liquor and edible oils; ensuring that it isnt
overtly dependent on any one of the two verticals.
Transformation-focused: The Company focuses on strengthening its presence in the IMIL segment, graduating
from entry-level IMFL products to mainstream products by branding and leveraging its corporatized identity.
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of bottling plants and tie-ups, strengthening its value chain.
Resource integrity: The Company has selected to manufacture IMIL from grain-based ENA, enhancing taste
on the one hand and eliminating odour on the other, resulting in increased acceptability among the masses.
Distribution: The Company markets products through private/ governmental distribution channels. The
Company possesses a strong retail and institutional network (proprietary retail shops inWest Bengal).
Acquisitions: The Company has demonstrated the ability to identify targets and acquire bottling plants and
brands to address the vast consumption potential in the markets of its presence.
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to capture the upside in each and moderate an excessive dependence on any one variety.
Key Differentiating Factors

0UIFS1MBZFST The Pincon Advantage
Most established liquor companies focus on the upmarket Pincon focuses at the bottom of the countrys consumption
consumer pyramid
Most liquor companies focus on upmarket niche segments Pincon selected to focus on the popular segment
Most liquor companies address existing price segments Pincon has successfully created new price segments
There have been virtually no new players entering the IMFL Pincon has been one of the most exciting entrants in the
space in the last couple of decades countrys IMFL sector
Most IMFL companies have high marketing budgets Pincons business model is weighted around low marketing
costs, which can be passed on to the retailers
Most liquor companies begin by blending, bottling and Pincon was engaged in the distribution business and used
branding followed by distribution this insight of liquor across blending, bottling, branding
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Most liquor companies prefer to specialise in a space of Pincon is extending its IMFL specialisation to the IMIL
their choosing segment
Product Segment and Brands

50 degrees or more Budget Regular
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in this product segment in West
Bengal
Stable Financial Indicators

LX INDIAS TOP 500 COMPANIES
Experts View
Q&A
IBS Business School
Prof. Y.K.Bhushan, Senior Advisor & Campus Head
Kindly brief us on the courses offered by IBS Business School to foster entrepreneurship and innovation in India.
Entrepreneurship has been on the agenda of IBS. We have been organizing conclaves, workshops and interaction with successful
entrepreneurs to learn about entrepreneurship from their firsthand experience. IBS Mumbai established a link with the Essex School
of Business and Entrepreneurship in UK which enables us to keep ourselves updated about new developments in the area.
By an arrangement started with Essex University, a program called Venture Academy for entrepreneurship was organized for three
years offering joint certification with Essex University. A few students have now started venturing into their own enterprises with
innovative ideas. It is now proposed to establish an incubation center to promote entrepreneurship among students. Regular inputs in
the program are also being offered as a part of our PGPM program.
Kindly provide the details of your B-schools reach across India and expansion plans.
IBS Business School is comprised of campuses covering all parts of India. Like Hyderabad, Gurgaon, Pune, Ahmedabad, Bangalore,
Kolkata, Dehradun and Jaipur. This gives us a Pan India presence and reach. Plans for expansion are on the drawing board and may take
shape over the next one or two years.
In your opinion, how can industry-academia tie-up bolster the availability of skilled workforce in India? What initiatives are
necessary from industry bodies, academia and government to ensure a successful industry academia tie-up?
The focus on business education in India has been primarily on academics with much smaller emphasis on skill development. At IBS
campuses, we do recognize the need for developing management skills of analysis, critical thinking, reasoning, service to the society
and various soft skills. We are unique in the sense that unlike other management schools, we have woven soft skills development
program into the MBA/ PGPM course through a course each semester. We have had a close working relationship with professional
bodies like Local Management Associations through which the students and faculty get exposure to skills that industry requires of the
students. We believe that a close interface with industry is critical to management education and therefore our program includes 12-
14 weeks of Summer Internship which enables the students to learn hands on the skills involved in industry work. We do believe the
tie up between the industry and students should be further enhanced to the benefit of students and industry.
What role do you envisage for IBS Business School to play in skilling of Indias workforce?
We believe that management schools like IBS Campuses can play an added role in developing skills of the workforce in industry by
providing time for faculty and students to interact fruitfully with managers and other levels in industrial organizations for mutual
learning. Given their competencies, students and faculty could also contribute through National Skill Development Mission of the
Government of India.
Kindly elaborate on your B-schools vision and its future plans.

The vision of IBS Mumbai is to emerge as an institution of choice for development of leaders of tomorrow with a glocal perspective.
The requirement of building leadership is being actively pursued in our functioning specially through the mentoring and counseling
sessions conducted by the faculty with the students throughout the year.
We are actively striving to enhance our focus on Action Learning and Learning by Doing. We also propose to step up our efforts to
forge living linkages with professional bodies and NGOs both nationally and internationally.
E2 INDIAS TOP 500 COMPANIES

Q&A
Atria Convergence Technologies Pvt Ltd.
Sunder Raju, Managing Director
Kindly give us a brief of various services offered by your company.

We are a provider of multiple services with a deep reach architecture that allows us to service homes, SMEs and large institutions that
have high performance, high bandwidth demands. In the area of services to homes, in addition to providing fibernet internet services,
we also provide linear programming in many market places, both on a digital platform and as an OTT service. As an internet service
provider, we deliver internet service through FTTX wired lines. With a growth in high performance data demands at home, consumers
are asking for more curated services. Thus, in addition to internet services play, value added services such as home security, data
security, entertainment on demand, e-commerce services and curated educational services are areas that we are investigating and
will add to our portfolio.
What are the emerging trends in information, communication and entertainment industry? How does your company plan to keep
up with these trends?
There is a tsunami of information aggregation happening in the virtual world. The consumption of information on the net spans all
age groups and we are tethered from cradle to grave to this high way. Social media is changing the way we communicate. Its more
likely that we communicate through text than voice today. Social media is also giving birth to a newer phenomenon of us sharing
with the world many of the day to day things that we do in pictorial forms including videos. This is now creating demand not just on
download capabilities, but also on a symmetrical upload speed. In the entrainment space from pure linear television watching, we are
aggressively moving towards individualised offline watching, which means we will watch scheduled live programmes at a time and
manner that best suits the individual. So at home, at the same time, possibly in same room, multiple devices, from phones to tablets
to televisions, and different forms of entertainment, are being consumed simultaneously. So from behaviour where, even up to the last
decade, there was a need to get to a television at a specific time because of a particular show, people are moving to a mind-set that
says I will watch it when I have the time. This will change how the entertainment industry delivers as we move forward.
Fibernet is an advanced version of internet connectivity. Can you share with us the advantages of Fibernet over broadband? What
impact do you foresee which Fibrenet can have on Indias digital revolution?
The broadband definition in our country has gained currency based on the 2 MBPS minimum speed defined by the IT Ministry,
Govt. of India. However the market place and the average consumers have moved far beyond this, in terms of needs. Fibernet is
really at the leading edge in terms of the service profile it can provide to the consumer. We are seeing a doubling of per home data
consumption every year. This basically means that one has to design infrastructure that will address this continuous increase in per
person consumption of data. Fibernet does this by ensuring that we can provide up to 100 MBPS per second to every home today and
to further upgrade that infrastructure as and when there is a consumer demand. Today it is our estimate that over the next year or two
there will be a 150 200 GB average consumption per home. Our infrastructure is already designed to ensure that it is able to cater to
that growth. Our fiber to the home and optical transfer enable such deliveries and we are geared for further upgrades.
What opportunities do you see for your sector in the next five years? How is your company planning to tap those opportunities?
Internet service providers today are download Centric. It is our belief that over the next five years upload needs will become
symmetrical to download needs. Most networks today are so download Centric that they will struggle with this change. Then there is
a new elephant in the room that is just taking birth. It goes by the name IOT. IOT will upend all planning because of the needs of the
infrastructure to meet its demand. Internet service providers really will have to revisit, rethink and redesign, if the whole eco system is
to survive and perform. We at ACT are looking at this carefully and will do everything that is required to stay ahead of the curve.
What is your vision in the long term and how well prepared the company is to really tap the emerging opportunities?
I have a slightly different take on what long term planning should be within an organisation. One, is to look at the market place, parse
the opportunity available and determine your play in that space. This is done by every organisation and the quality of execution
decides how successful the company will be. But what we are doing is looking internally. Are we the best people company that we can
be, and a major portion of the metrics of measurement will be how we perform in delivering an organisation where Learning, Personal
and Professional growth and the idea of shared vision is central to the existence of the organisation. If we measure high on this scale,
in a sustained fashion, it would be a great future for the company.
INDIAS TOP 500 COMPANIES E3

Q&A
Schindler India
Antony Parokaran, CEO
How do you view the current market for elevators and escalators in India?
India is the second-largest elevator market in the world after China, with more than 52,000 elevators being sold every year. With rapid
urbanization, the current growth rate of the Indian elevator & escalator market is estimated to be about 7-8%. The urbanization level
is expected to rise from 32% to about 40% by 2030. The growth of the market is largely driven by the residential segment and also
by activity and initiatives in Tier 2 & Tier 3 cities. It is likely to get even stronger in the near future, with the focus on initiatives like
housing for all, development of smart cities & new infrastructure projects. This creates a need for taller buildings with even more
efficient and innovative mobility solutions. Schindler is responding to this opportunity with targeted investments & strategic expansion
of our Indian business. Our new manufacturing facility, located at Chakan near Pune, has been fully functional since the beginning of
2014. This sprawling, world-class campus houses the elevator factory, a 70-meter tall elevator test tower, the global R&D centre and
an upcoming escalator plant. All this is a testimony to the Schindler Groups commitment to the Indian Market and our endeavor to be
closer to our customers and offer them innovative mobility solutions.
As for elevator design, what are the ongoing trends? How do these differ for different type of projects?
Our product offering ranges from cost-effective solutions for low-rise residential buildings to sophisticated access and destination
control for multifunctional high-rise buildings. Real estate developers increasingly prefer gearless & machine-room-less (MRL)
elevators over the traditional elevators which require machine room on top of the building. This offers them more flexibility to design
the building, and ensures an overall saving in cost and time for our customers. A very significant and positive change is that the manual
door elevators, which once formed a major part of the elevator market in India, is on decline, thanks to the growing awareness among
customer and end-users, about safety and energy-efficiency. Schindler has consciously stayed away from offering manual door elevator
products, and is playing a major role in this positive shift by offering our range of auto-door elevators with standard safety features
such as infra-red door protection, automatic rescue device and 2Hrs fire rated doors. In large metros, buildings continue to grow taller.
The taller the building, the more challenging it is to design and install the elevators. Our expertise in high-rise projects is evident from
the landmark high rise buildings such as Shreepati Arcade, Antilia, Imperial Towers. We are also proud to be associated with the tallest
residential building in the world The World Towers, which will be equipped with high speed Schindler elevators (S7000), some of
them running at a speed of 8 m/sec, the fastest in India.
How project planning & execution are important and what are Schindlers Expertise in it ?
Elevator is literally the lifeline of a building and the breakthroughs in elevator technology have made it possible for the buildings to
grow tall. The important part here is to plan for the correct number and specifications of elevators, considering the type of building,
its tenancy, population etc. Professional project management is the key to timely completion of project with proper coordination with
all concerned agencies. Here Schindler employs dedicated project managers as single point of contact for our customers to ensure that
the projects are well planned & executed on time with highest quality & safety standards. Schindler India has over the years, gained
the trust of leading builders & developers across the country. The reason they have chosen Schindler as their partners in large and
high-rise projects is because of the organizations expertise in managing such projects, through dedicated project management teams.
Our four state-of-the-art training centres, in Noida, Bengaluru, Pune and Mumbai respectively, ensure that every Schindler fitter and
service technician is trained and certified to work on our equipment. Schindler customers are aware that their elevators are in safe and
capable hands. Schindler has been a partner in several prestigious infrastructure projects in India, like the new Mumbai International
Airport, Terminal -2, the Chennai International Airport, the Delhi Metro, the Delhi Airport Metro, the Mumbai Monorail, the Kolkata
International Airport, as well as the Mumbai and Bengaluru metros. Leadership through customer service is cornerstone of Schindler
Indias growth strategy. Schindler has achieved its objective by understanding the needs of the customers and being responsive to
them. Our service technicians are equipped with iPhones, which act as hand-held, Field-Link devices, and enable them to identify and
prioritize the service needs of our customers, and resolve them promptly.
Finally, please share your outlook on the Indian elevator industry in terms of market size and new markets
Rising urbanization, a relatively young population and increasing educational opportunities will sustain the Indian growth story for
years to come. Large metro cities will continue to rise higher, while rapid growth in smaller towns would transform them into new large
cities of tomorrow. We are very optimistic about the long term growth of the domestic elevator and escalator market. Overall, with our
growing team of highly skilled and motivated employees, Schindler is truly poised to further strengthen its leadership in the market.
Inspired by the vision of being the best service provider in the industry for its customers, we will continue to develop highly innovative
and user-friendly mobility solutions, and will make Schindler the first choice of customers.

Q&A
Flexituff International Limited
Saurabh Kalani, Managing Director
Can you provide a little history about Flexible Intermediate Bulk Container (FIBC) ?
FIBCs flexible and collapsible giant-sized bags meant for carrying up to 2500 kg powdery or granulated material were first made in
late 1950s in the United States and Europe using heavy-duty PVC-coated nylon or polyester. However, the real growth of FIBCs that
are globally used today was seen with the development of high tenacity light-weight polypropylene fabric in late 1960s to early 70s
which reduced the cost of FIBCs substantially.
The oil crisis of 1970s necessitated transportation of large quantity of cement from Europe to middle-eastern countries which
popularized the use of FIBCs in Europe paving way for its usage for various similar products. In the U.S., the use of FIBC really came into
being when the U.S. department of transportation allowed hazardous materials to be transported in FIBCs.
In India, FIBC production was started in 1990s mainly for export. Within a span of 25 years, today India is the worlds largest FIBC-
supplying-country. While the usage of FIBC in India is in its nascent stage, it is believed that over next decade India would be the worlds
largest FIBC-consuming market.
Kindly give us the brief of various products offered by your company? Which sectors and market does your company currently serve ?
Flexituff is a multi-product, multi-market, multi-location company. It has four plants in India and a distribution and marketing subsidiary
in the U.K. Through its niche products, Flexituff serves the domain needs of industrial, retail, agro and infrastructure sectors.
With export to over 55 countries, Flexituff enjoys a leadership status with following sectoral offerings :-
a) Industrial sector FIBCs for bulk packaging
b) Infrastructure sector Geo-Textile products and solutions
c) Irrigation / Agro sector Dripper and compounds
d) Retail sector BOPP bags and non-woven products
Of the total revenue, the export accounts for 55%.
What benefits are there of using FIBCs over similar methods? How competitive is the FIBC market for manufacturers ?
Compared to a conventional rigid drum, an FIBC is not only fully customizable and economical option but being flexible in lighter
weight it also offers a significant freight cost advantage and space-saving as it can be collapsed and folded post use.
As FIBC is a tailor-made, critical and fail-safe product expected to perform safely 100% of the times, thankfully, besides price, there is
a premium to Quality Certifications, Integrated Manufacturing, R&D and innovations. While overall market remains very competitive,
niche practices and global scale operations still allow for building competitive advantages.
How do you see the prospects of geosynthetics industry, your new area of operations and how does your company plan to tape
these opportunities ?
The use of geosynthetics is an established solution in all infrastructure-related solutions across the globe. In India, till now, the use of
geosynthetics was very low, however, it is now fast catching up. We have doubled the turnover of this segment in FY2016 and propose
to further double it this year over FY2016. Thus, we see a very high growth of Flexituff in this sector. In the next 2 to 3 years this sector
may be the highest contributor to the topline and the bottomline of the company.
What do you and your organization hope to achieve in the next 5 years ?
Having positioned itself as a leading global FIBC player, Flexituff is now betting big on Indias infrastructural growth by focusing on
offering proprietary geo-synthetics solutions for Ganga river cleaning / coastal bank protection / river-training, flood control and
landslide protection. Flexituff is foraying into offering end-to-end solutions, undertaking supply and commissioning projects in India
and neighbouring countries.

Q&A
UPL Limited
Rajju Shroff, Chairman
Please give us a brief profile of your company and the business it is engaged in:
M/s. UPL Ltd. is one of the largest generic pesticide manufacturers. We are engaged in all the inputs for agriculture. We are suppliers
of seeds and pesticides. We are engaged in the business of helping farmers improve the productivity of their crops. We train farmers
on how to protect their crops. We have also established a system of spraying fields and our Company is the largest in after-harvest
protection of all the crops including fruits, vegetables and grains.
What was the thought and motivation for inception of the Company?
When we started UPL in 1969, we wanted to manufacture chemicals which people in India believed that it could not be done in India.
We did process innovation and successfully made Red Phosphorus for which technology was considered very difficult in those days.
Within 2 years of starting of our Plant, our Company got Presidents Gold Seal Award for Indigenous Development of Technology and
savings of huge Foreign Exchange.
What specific strategies did your Company follow to reach todays pinnacle?
We had a good R&D Team and in the earlier days we selected products mostly phosphorus based pesticides for which technology was
considered very difficult. We constantly employed innovation and improvements for whatever chemicals we produced, to keep ahead
of competition.
What are the unique differentiating factors that made it possible for the Company to manoeuvre through challenging conditions?
In the earlier days there were different types of problems like water and power-shortage; we had shortage of raw material supply, etc.
We used all the innovative ideas to successfully overcome these challenges. The most important thing is that the Company had very
good Team Work. In difficult times, from our Senior Executives to the lowest level staff all worked as one team. They believed that it
was their duty to make the Company successful. R&D and Team Work played a very important role. We produced chemicals which was
considered to be very difficult to produce without technical know-how from abroad.
What Opportunities do you see for your sector in the next five years? How is your Company planning to tap those opportunities?
Most of the people in India do not know about Indias advantage over others in the field of agriculture. Our small farms have mixed
agriculture of food grains, horticulture, poultry and aqua culture, which is prevalent only in India. Most Indians do not even know that
we are the second largest producers of agriculture. We now have unlimited opportunities to increase the farm income in India after
the Governments policy of Farmers Welfare looking at the actual situation of our farmers.
Farmers need fertilizers, seeds, crop protection chemicals and also after-harvest storage and protection of food. Ours is the only
company which has all these things. We have noticed that with proper education and training our farmers in India are able to achieve
very good production and we are very confident that in the next 5 years we will be able to double our Sales from ` 13000 crores to
` 26000 crores. With our excellent team, we are planning to introduce new and better products at competitive price which gives us
unlimited opportunities to grow.
The emerging trend is to be environmental friendly and aware along with taking on more social responsibility. How does your
company plan to keep up with these trends? What possible impact do you see on your company?
We can prove that a Company like ours making crop protection chemicals can be most environmental friendly. All our plants are very
well designed to get maximum yield and minimum bye-products. Our Manufacturing Units have no air pollution because of well-
designed plants. The waste coming out of the Plant are scientifically destroyed without causing any harm to the environment. Our
Company has built one of the best Landfill sites for handling chemical wastes and also has Asias best Incinerator for destroying toxic
waste and this has been built by our associate company. International experts have visited these sites and have praised our system.

How has digitization and e-commerce supported your growth and expansion? How will it play a part in future growth
endeavours?
We have a very strong IT Team which is in close contact with all our Plants in different parts of the world. Our Teams are in constant
touch with each other through video conferencing from Europe to Argentina and from Africa to Australia. We have regular conferencing
and monitoring of our activities.
Which are the most important changes that Indias leading corporates need to make today in order to be effective contributors to
the process of countrys economic and social development?
We believe that if India has to change; if you want to remove hunger and poverty from the villages of India it can only be done with
proper Agriculture Extension Work. No amount of industrial investment can remove poverty from rural areas.
We strongly believe that if we concentrate and improve agriculture productivity, there will be more prosperity and more jobs in rural
areas. So, leading corporates should concentrate on rural prosperity.
Today most of the respectable companies are concentrating on Corporate Social Responsibility, by spending money on educational
activities and medical activities and companies like ours are concentrating very much on training and educating of farmers.

Q&A
International Paper APPM Limited
Rampraveen Swaminathan, Chairman & Managing Director
Please give us a brief profile of your company and the businesses it is engaged in.
International Paper, a Global Paper and Packaging company, entered the Indian market through the acquisition of International Paper
APPM Limited (formerly known as The Andhra Pradesh Paper Mills Limited) in 2011. IP APPM Limited is one of the biggest integrated
paper and pulp manufacturers in India. The company produces writing, printing, copier and industrial grades of papers for foreign and
domestic markets at its two manufacturing units in Andhra Pradesh which have a total paper production capacity of 240,000 metric
tons per year. IP APPM Limited employs around 2,200 employees and is headquartered in Hyderabad, India. The company is becoming
a driving force in sustainability in the paper manufacturing arena in the world economy with focus on social and community programs
including its own pioneering work in raw material generation through social farm forestry and a very strong strategic growth focus.
Give us an overview of the Indian Paper & Packaging Market

There is continuous growth in the Indian market for paper and packaging across all grades including industrial packaging and tissues.
The business environment in India is conducive and has growth potential. However, this growth has slowed down the last couple of
years, especially in the segment of printing papers.
The depreciation of the rupee brought about impact on fuel rates and items, the domestic fiber cost saw a substantial increase. The
depreciating rupee has also impacted the imported recycled paper costs. The supplies have also increased due to capacity additions
and increased imports.
The situation has been tough but the focus has been on making deliberate improvements, operational and manufacturing excellence,
which is our focus at International Paper as well.
Can you share your view about the growth rate in different segments?
Cut-size will be the major growing grade in UFS. Currently, cut-size paper is evenly split between 70 & 75 GSM, with offices and
government being top consumers. According to our estimates, cut size paper is witnessing demand and a growth of around 10-12%.
The demand in the textbook segment has been slow whereas the notebook segment has seen reasonable growth. The industrial
corrugated packaging will grow at around 7 - 8% and the uncoated free sheets will grow at 4 - 5%.
What are the unique differentiating factors that made it possible for company maneuver through challenging conditions?
Given the industry that we operate, there are challenges that we have in terms of sustainability. We consume a lot of natural resources
and the main challenge is to operate in a way without depleting these resources and causing harm to the environment. And, for this, it
is imperative to run the business with sound ethics and practices and maintain all the environment standards and norms.
What opportunities do you see for your sector in the next five years? How is your company planning to tap those opportunities?
The Indian market is one of the fastest-growing markets for paper and packaging in the world. India has 15% of the worlds population,
but consumes less than 2% of the worlds paper. The Rapid economic growth, combined with advances in education infrastructure
and the burgeoning middle-class will bolster the growth of paper consumption in India over the next several years. Therefore, for
us there is an opportunity to optimize our existing operations. International Paper has a proven track record of global best practices
in operational excellence, industrial safety and social responsibility. A key benefit of IP APPM is the scalability of its existing paper
machines, access to raw materials, and physical infrastructure for capacity expansion. Our priority is to utilize our existing operations
to fulfill the growing domestic demand.
The emerging trend is to be environmental friendly and aware along with taking on more social responsibility. How does your
company plan to keep up with these trends? What possible impact do you see on your company?
Ever since the Sustainable Farm Forestry program was initiated by APPM in the year 1989, it has constantly reaped rewards both
for famers and the company. In the past 27 years, the acceptance of quality seedling and clones by farmers has led to successful
plantations in Andhra Pradesh. From 1989 to 2016, more than 1.5 billion seedlings and stumps have been distributed to over 54,000
beneficiaries extending over an area of more than 240,000 hectare.

Our sustainable farm forestry program helps ensure a stable supply of raw material for our paper manufacturing while helping to
create jobs and improve the lives of many families throughout the region.
Our Farm Forestry program aims at increasing benefits to the landowner as well as maintaining forest integrity and environmental
health. Our effort doesnt end at distributing seedlings to the farmers but offers extended services like providing training to farmers
on planting methods, harvesting, demonstration plots and trials and ensures that there is Life-Cycle support for the farmers. Our
research and development projects have helped in ensuring higher survival percentage of seedlings, higher productivity per unit area
and reduction in the rotation cycle.
Our contributions to the local society goes beyond improving incomes through developing faster growing trees and improving forestry
practices, through our successful CSR program. We are constantly seeking opportunities to make a difference in communities in India
through a number of development initiatives that are initiated in communities around IPs manufacturing facilities. This is not limited
only to the geographies under operation, but also in far-flung areas, through constant, well-monitored support towards education,
environment and community engagement. IP India Foundation is continually refining its programs and seeking opportunities to make
a difference in communities in India.
How has digitization and e-commerce supported your growth and expansion? How will it play a part in future growth endeavors?
Across the globe, printing paper business faces pressure with little or no growth in many geographies. The increase in digitization
brings with a reduction in demand for traditional paper. Despite this, there is a demand and fundamental need for notebooks.
Given this, Paper manufacturers across the world are choosing to reinvent and focus more in the packaging sector which is seeing
growth across segments like - consumer packaging and industrial packaging.

Q&A
Skipper Limited
Sharan Bansal, Director
Please give us a brief profile of your company and the business it is engaged in.
Established in 1981, we are a leading manufacturer of transmission & distribution structures (towers & poles) and plastic water pipes.
With more than 35 years of domain knowledge in both the power and water segments, it is a crucial player to support infrastructure
and power projects. It is one of the worlds largest integrated transmission tower manufacturing companies, with angle rolling, tower,
accessories & fastener manufacturing and EPC line construction. Our manufacturing capacity is among the top three in India and
among the top ten in the world. It is the only company in India which has a control over the complete value chain, resulting in control
of 80% of costs for any tower line project. The global market reach spans across 20 countries, some of which are from South America,
Europe, Africa, the Middle East, South and Southeast Asia and Australia. Skipper is also one of the largest producers of plastic pipes
in Eastern India. Apart from West Bengal, the company has already set up plants in Ahmedabad, Sikandrabad & Guwahati making it a
national brand. It offers a huge range of polymer based pipes and fittings, which are used in different areas such as plumbing, sewage,
agriculture and borewell sectors.
What was the thought and motivation for the inception of the company? Kindly describe the key milestones achieved by the
company.
We have successfully and profitably grown our business by focusing on the two most critical ingredients for human survival and
progress - power and water. These two resources touch almost all spheres of human life; and in a developing society like India with
a billion-plus population, the ability to provide adequate power and water to a large proportion of the population will determine the
nations socio-economic wellbeing for the long term.
Our Key Milestones:
1990 Company entered into manufacturing of Telecom Towers & Masts

2005 Set up First Galvanizing Plant
2006 Achieved INR 1 Billion in revenue
Got Power Grid approval for Tower Unit & first order itself was for 400kV towers (the highest voltage level at that
point of time)
Entered into manufacturing tie up with Ramboll, Denmark The Worlds largest Tower Design Company
2009 Got Indias 1st order for 800kV Transmission Towers from PGCIL
Commissioned Uluberia, West Bengal Unit with 1st Polymer Products Unit and Indias first double side Tube GI
Plant
2010 Entered into backward integration of Tower manufacturing by way of Angle Mill
2013 Achieved INR 10 Billion in revenue
Entered into an alliance agreement with South Americas largest TSO for exclusive supply of their Transmission
Project
2015 Executed several prestigious & challenging orders, having a diversified order book of both national and international
orders
Awarded Fastest Growing Transmission Tower Manufacturing Company by CNBC TV 18
Equity Shares listed with National Stock Exchange (NSE) & Bombay Stock Exchange (BSE)
Commissioned Polymer Products Plants at Ahmedabad, Guwahati & Sikandrabad
Technological Tie Up with Sekisui of Japan for CPVC compound
2016 The company recorded a gross revenue of INR 16 Billion
Won The Best Industry in Water Resources Sector by the Central Board of Irrigation and Power
Awarded The Largest Tower Supplier in Tower Supply Category by PGCIL
The export revenue growth of the company rose from 5% to 45%
E 10 INDIAS TOP 500 COMPANIES

What specific strategies did your company follow to reach todays pinnacle?
The company management had set comprehensive strategies to achieve the long term goal. Few measures listed below acted as a
major boon for companys growth & diversification.
Asset-Light Strategy for Improving ROE
The company adopted the strategy of Asset Light Model for its Polymer business segment expansion. The strategy allows prudent
capital allocation and we expect the strategy to generate better returns.
Ready for Large Scale Project orders
With a 200,000 MTPA capacity, Skipper is among the top 3 tower producers in the country and also among the top 10 globally. The
company in the past has consistently increased its manufacturing capacity to be ready for greater market opportunities. Today, the
company has the scale and experience to implement large T&D orders of the highest voltage levels and has successfully done so in
the past. In the Polymer Pipes segment, Skipper plans to increase its capacity to 100,000 MTPA by 2019 to meet the national water
infrastructure requirement.
Location & Integrated business module
With operations in East, Skipper enjoys a 300 to 400 basis points margin advantage due to lower logistics & resource costs than other
industry operators. The integrated business model of the company makes it less dependent on third parties and as a result enjoys
better supply chain management
Strong Order Book
Skipper has maintained a 2x order book to sales ratio consistently which is also well diversified between domestic and international
projects. This provides us revenue assurance for next 2 years and also helps maintain our margins.
Monopoles - A New Growth Driver as they require less ground space
Skipper has one of the largest designing facilities of Monopoles in the country with an application up to 400 kVA. They are the only
solution for setting up transmission lines in a crowded urban setting, as they require less aerial and low ground consumption.
Investing in Human Resource
Skipper has always believed in investing in Human Resources. Our operation volumes are continuously increasing and so is our
employee strength. At present Skipper has approximately 1,600 employees, including very high quality professionals at various levels
from finance, engineering, technical, marketing and legal fields. Employees are provided with suitable training and guidance to improve
performance. Incentives and rewards on various platforms to talented and result-oriented employees serve as a great motivation. The
company has a policy of retaining talent by providing a comfortable work environment, good pay and attractive rewards.
What opportunities do you see for your sector in the next five years? How is your company planning to tap these opportunities?
T&D investment is high on government priority and power evacuation constraints and high transmission losses have attracted the
attention of policy makers for more investments in the transmission infrastructure space to match the investment in power generation.
The government has taken strong agenda for Power for All and announced several schemes to catalyze the growth like dedicated
green energy transmission corridors are being developed to cater to renewable energy projects.
The per capita consumption of power in India is around 90 kVA per person, compared to the global per capita consumption of 313 kVA
per person and Chinas 447 kVA per person. The countrys growing population, rapid urbanization and accelerating industrialization
will drive the demand for power consumption in the coming years. Further, growth in the power sector will be catalyzed by the
governments decision to create 100 smart cities, Rajiv Gandhi Grameen Vidyutikaran Yojana(RGGVY), Restructured Accelerated Power
Development and Reforms Programme (R-APDRP), and North East India transmission investment. Current year budgetary allocation
towards schemes in the power sector are up by over 50% to INR 122bn, with almost half to strengthen urban electrical network, smart
metering and city-level GIS.
An approval to a new scheme Ujwal DISCOM Assurance Yojna (UDAY) which provides for the financial turnaround and revival of
power distribution companies, and importantly ensures a sustainable permanent solution to the problem. UDAY is a path breaking
reform for realizing the Honourable Prime Ministers vision of affordable and accessible 24x7 Power for All.
In fact, during 2015-16, the Government has set itself an ambitious target for awarding new transmission projects worth 1 lakh crore,
and has announced huge investment plans in the water transmission and distribution space for the next few years. It has announced
large projects, such as the National Rural Drinking Water Programme, Swachh Bharat and river interlinking. The thrust on water supply,
irrigation, river management, along with improving sanitation, sewerage and urbanization is expected to drive the Polymer pipes and
fittings markets.
INDIAS TOP 500 COMPANIES E 11

Q&A
Altran India
Sanjay Kumar, CEO and MD
Please give us a brief profile of your company and the businesses it is engaged in.
Altran is a global leader in innovation and high-tech engineering consulting company headquartered in Neuilly - Paris (France). The
Groups mission is to assist customer enterprises in their efforts to create and develop new products and services. Every day, we
bring our clients most complex projects to life and enhance their performance through our expertise in technologies and innovation
processes. In this way, Altran has contributed to some of the major technological advances in recent decades, in the fields of speed,
precision, security, communication, practicality, interoperability, artificial intelligence, etc. For 30 years, Altran has been a privileged
innovation partner to various industries in the field of Aerospace, Automotive, and Energy.
Having an international presence, Altran operates in ~20 countries throughout Europe, Asia and the Americas. As a strategic partner,
Altran offers its customers global projects support while guaranteeing a consistent level of service. Also, in order too provide specific
support to dedicated local markets, Altran has chosen to maintain a regional dimension, via management by the various geographical
divisions which make up the Group.
Altran India is a wholly owned subsidiary of the Altran Group. Altran India was established in 2004 in Bangalore. Bangalore is known
as the Silicon Valley of India. Altran India is also present in Chennai, Coimbatore, Hyderabad and Noida. As part of the Altran group,
our purpose is to deliver projects with the best results in terms of quality, profitability & innovation and to be our clients first choice.
The five key sectors of Altran Indias Technology and Innovation consulting expertise are in Aerospace, Automotive, Railways, Energy/
Nuclear and Media/Telecom. Altran India has three key consulting domains across the five industries as mentioned above which are
Mechanical Engineering, Intelligent Systems and Plant Engineering.
What are the factors that differentiate your company from the competitors?
a. Work ethics and avowed policy of putting people first
b. Our global footprint and reach combined with local strengths of doing business in India
c. Seen as Indias fastest growing Engineering Services company makes us one of the most attractive employers
d. Being the largest global player also gives our people opportunities to work on cutting edge technology
The dynamics of the business are changing very fast and the organizations are finding difficulty in coping with the changing business
scenarios. How does your company help the organizations to copeup with the changing business scenarios in terms of competency,
skills and cost effectiveness?
The success of technology consulting business is driven by the speed with which it can adapt to change and this includes people
processes and technology. At Altran, we believe in empowerment this is what allows people to feel confident about sharing ideas,
expressing disagreement and trying out new things without fearing failure. We recognize those who take risks and fail as much as those
who have succeeded in course of their business. We believe humility and respect for humans is the key to identifying where the next
big change is coming from and being nimble helps us make quicker decisions to cope with the impending change. As an example we
are an organization of nearly 1800 engineering personnel in Mechanical, Electrical and Electronics; with offices in 7 cities and yet we
have less than 75 support staff including our front office and pantry attendant. This is what technology can do to enhance efficiency
and we believe in living it around us!
Your company provides support to European companies in terms of outsourcing strategies. Could you highlight critical factors that
are considered adopted by your company in making the outsourcing strategies for your clients?
First is the need to imbibe the work approaches. For example, in India we are comfortable with partially correct solutions and work
around options we call it Jugad! At Altran we detest Jugad!! When you work with sensitive technologies in fields such as Aerospace,
Nuclear and Silcion engineering, you have to be 100% right, 100% of the time and every time first time!! We link our staff variable pay
to FIRST TIME RIGHT on delivery. So for us precision, accuracy and delivering, FIRST TIME RIGHT is more important than delivering
something 90 % right even if its on time. We never commit and say YES when we mean MAYBE. These and several other factors have
ensured that in the last 5 years Altran India has not lost a single customer and more than 80 % of our customers have grown their
engagement with us.

Which are the most important changes that Indias leading corporates need to make today, in order to be effective contributors to
the process of countrys economic and social development?
There are several changes but to list a few
i. Indian corporates need to shift their focus from just targeting operational excellence to making STRATEGIC choices and investing
with conviction on those choices
ii. Indian companies need to have more HUMILITY to learn best practices from other geographies such as countries in Europe, the
USA or even neighbors such as China, Vietnam and Singapore.
iii. Develop a more open and trusting culture at work. This in some sense links in with the earlier point on operational excellence.
Whilst at one end we demand the highest standards of excellence on governance and ethics from the government, it appears not
so difficult to compromise it when it comes to our own business needs, something we observe repeatedly. Although with greater
effort and harder work it is equally possible for the company to achieve their objectives. The more the corporates go down this
path higher will be their direct contribution to both economic and social development of this country.
What are the technical skills which are going to be popular in the near future? How do you define the new-age engineer?
Mechatronics is going to be the mantra for this year, which is combining mechanical engineering with electronics and software skills.
We dont have much of it in India but that is something we would be looking at aggressively to develop both from the mechanical side
as well as software side. This is one area where we bring a lot of value, both as an enterprise and in terms of value to the customer.
The other will be the whole suite of semi-conductor chip design including taking ownership for developing customised chips for which
we have the capability, which very few other companies do. These two would be areas will really drive technical skills in engineering
services.
Previously, when you thought of an engineer, the first thing you thought was a guy who is structured, focused and does what he is
assigned. The last thing you wanted him to be was versatile, able to manage change and handle ambiguity. Today, that is the first thing
you want. Can he mange in a rapidly changing environment? Is he smart enough to understand what is changing around him and
therefore how does he need to adapt? This brings you to that classic saying of Bertrand Russell that experience which formally was an
asset can be a liability because it was acquired under different circumstances. So is it for engineering, today.
It is no longer about how much experience you come with. It is about what is your ability to manage across verticals, across domains
and grapple with change. A young engineer, who can do that, is probably going to be more successful than somebody who has 15
years of experience, simply because his adaptability is much lower. That is why we are no longer talking about experience, we talk
about expertise.

Q&A
ABM Knowledgeware Limited
Prakash Rane, Managing Director
Kindly give us the brief of various products and services offered by your company? Which sectors of the Indian economy does your
company currently serve?
ABM is a Software and Services company with a focus on providing e-governance software and solutions to Indian customers for
past 18 years. We are front-runners in enabling e-governance in India with several successfully sustained projects. ABMs various
e-governance solutions deliver 27+ million Citizen Services per year as compared to 4.2 million in 2010 and growing. We are owners of
several trademarks and re-usable software frameworks in the e-governance segment. Our key offerings are e-municipality software,
GRP-A Govt Resources Planning product, SAP Practice, Property Tax, Capital Value Reforms and Automation, Double Entry Accounting
Reforms and Automation, Water Billing and Accounting Solutions and Tourism Portal. We are category leaders in e Municipality and
hence we hope to play vital role in Smart City initiative of Government of India.
Government is increasingly focusing on driving e-Governance projects across various departments. How does you company plan to
tap these opportunities and aid the e-governance initiatives?
While e-Governance has attracted a lot of focus from the IT industry in last couple of years, ABM has been working in this sector
with a sharp focus, since 1998. Success of e-Government projects depends not only on the technological skills but also on in-depth
knowledge of government processes. ABM is one of the few companies in India which possesses the blend of both these skills.
E-Government projects have capacity to transform the functioning of the Govt. department provided sustainable Business Process
Re-engineering (BPR) is carried out. ABM has successfully demonstrated this in most of its e-Government projects in sectors like Urban
Administration, Utilities and Citizen/Consumer services. ABM offers eGovernance solutions, with many services offered online and on
mobile, e.g. enquiring the status of applications, query of dues and making online payments, searching and viewing any registration
details, filling RTI query and checking the response received, clicking a photo and uploading through GPS to update the progress of
building construction or any building permission, etc. We will be focusing on areas like Governance Risk and Compliance (GRC) and
Security. We will also be strengthening our new product offering, i.e. GRP, through a newly formed Strategic Business Unit (SBU).
What are the emerging trends in information, communication and technology industry? How does your company plan to keep up
with these trends?
Advancement and application of information technology are ever changing. Some of the trends in the information technology where
ABM is emerging are as follows:
Cloud Computing: One of the most talked about concept in information technology is cloud computing. It promotes the concept
of virtualization, which enables server and storage device to be utilized across organization and makes maintenance of software
and hardware easier since installation is not required on end users computer. ABM has already started making its flagship
application cloud compliant and developing a model to enable clients to pay for use rather than buying the application.
Mobile Applications: M-governance is one area where ABM has already made deep inroads. We offer several mobile apps for
citizens and businesses to enable easy access to government services. These mobile applications or mobile apps have become a
success since its introduction. They are available as a download from various mobile operating systems like android, iOS-Apple,
etc and can run on Smartphone, tablets and other mobile devices.
User Interfaces: The touch screen capability has revolutionized the way end users interact with application by enabling the users
to directly interact with what is displayed. Touch screen capability is utilized in smart phones, tablet, information kiosks and other
information devices. ABM has incorporated such interface in all its mobile apps.
Analytics: Analytics is a process which helps in discovering the informational patterns with data which ABM uses aggressively
to enhance the value of MIS to its customers in various domains. The field of analytics is a combination of statistics, computer
programming and operations research. From the emerging trend, it can be concluded that its influence on business is ever
growing, and it will help companies to serve customers better.
Could you share your thoughts on how the Indian e-Governance IT industry could shape up by 2020 in terms of market size and
new markets?
The government is driving Digital India program, focusing on improving ease of doing business along with delivering essential services
in a time-bound manner. With this focus, IT platform will be inevitable for Government functioning. It can open doors on young and
veteran IT entrepreneurs in spaces like IT services and BPR,ITeS, IT products and in areas of SMAC. With proliferation of mobiles
and catching up of Aadhaar enrolment, India has unprecedented opportunity to leverage the combination of Mobile-Aadhaar-Bank
account for effective implementation of various government schemes as well as delivery of G2B or G2C services. This will open a new
paradigm in Indian context and can jump many stages of making direct delivery of citizen benefits.

Q&A
Karnataka Bank
P Jayarama Bhat, Managing Director and CEO
In the current economic scenario where there are increasing number of defaults and rising number of NPAs, what measures is bank
taking to tackle these issues?
In order to ensure effective credit monitoring, identification of stressed/special mention accounts and to strengthen follow up of assets
an exclusive Credit Monitoring Department [CrMD] has been set up at the Banks head office. Credit monitoring teams have been
formed at the Banks regional offices for immediate identification & monitoring of stressed accounts. Asset recovery management
branches have been set up at three centers namely Bengaluru, Mumbai and New Delhi for effective follow up and resolution of NPA
accounts through securitization and other means.
Reserve Bank of India is currently issuing new banking licenses. While this translates in to increased competition for existing Banks,
what impact do you foresee it would have on Indian banking system? What measures is your Bank taking in order to gear up to
these new challenges?
Entry of new banks is a welcome move which will provide new business opportunities to banks and witness heightened marketing
skills and efficient & innovative modes of service delivery. However, the banking sector may come under immense pressure due to
compressed spreads, increase in customers expectations, decline in customer loyalty etc. Access to low-cost funds and productive
deployment of funds would be some of the major challenges the banking sector would face apart from the already existing pressure
on asset quality and capital adequacy.
Karnataka Banks strategy: Well, during the purposeful 92 years of existence Karnataka Bank has always responded to the challenges
suitably and has been able to deliver strong and consistent financial results. The Bank has a well-stabilized technology platform,
relatively young and loyal work force, well diversified and wide spread shareholding, strong and satisfied customer base and strong
presence in 21 states & two UT, and as such is well fortified to meet the new challenges.
Technology is changing the face of Indian banking system. Can you throw some light on how has your Bank evolved to tap the
opportunities created by technological advances?
The continuous efforts of the bank to leverage the use of information technology in its various delivery channels has been well received
by the customers especially the younger generation and also improved the business figures of the bank over the years. This also has
helped widen the customer base to a large extent. The Bank will continue to use information technology in its operations to provide
better banking experience to its customers. Towards this end, it is proposed to introduce new technology based products such as
Near Field Communication Card, Mobile Virtual Card, Mobile Wallet, IMPS [through multiple delivery channels] and a host of other
technology based products, during the current year. The Bank is poised to participate in UPI project of NPCI which will enable the
account holder to send and receive remittances from smartphones without the necessity of visiting the branch.
How do you see Indian banking system shaping up in 10 years hence?

Competitive pressure is building in the Indian banking system, by way of granting new licenses, on-tap licenses and the entry of
payment banks and small finance banks. Going forward we may also see niche banks coming up catering only to specific sectors like
agriculture, channel finance or even start-ups.
I see banks going far beyond their traditional role of being mere provider of finance & acceptor of deposits. Technology will be the
major enabler to increase the ease and comfort of banking for customers. Only banks that are based on sound robust framework and
adapt swiftly to change will flourish.
Going ahead, Digital Banking will be the order of the day, with more and more customers including rural customers, carrying on
majority of their banking transactions through digital channels.

Q&A
Pincon Spirit Limited
Monoranjan Roy, Chairman & Managing Director
What are the key drivers of liquor industry in India?

Key drivers are the factors like Urbanization, Favourable Demographics, Change in Social Outlook towards Acceptability of Liquor,
Rise in Disposable Income & Increased Alcohol Accessibility and Availability. Majority of the Indian population are in the age group
of 20 to 50 years, who consist of existing and potential consumers of liquor. Over the decade, there has been sea of changes in these
parameters, all leading to favourable incremental market volume of liquor.
As a result of the above, it could be experienced that India is one of the fastest growing liquor markets in the world, which being the
3rd largest in the world. In emerging countries, increasing demand of liquor is due to large young population size and rising disposable
income. Spirits comprise of rum, whisky, vodka & gin is with a market share of about 36% and beer is about 13%. Balance 51% is
comprise of country / cheap liquor: 48% and wine etc.: 3%.
Kindly elaborate on your companys journey since its inception.

Pincon Spirit Limited has started its journey in the year of 1978 in the name and style of Sarang Viniyog Limited and subsequently its
name was changed to Pincon Spirit Limited in in FY 2010-11. The company is engaged in two distinct business lines:
(a) Blending, Bottling and Whole Sale Distribution own Brand of IMFL products i.e. PINCON, having Rum, Whisky, Vodka, Beer, Brandy
etc. in multi-state level and also wholesale of various other established brands in the state of West Bengal with an established tie
up with over 20000Licensees.
(b) Processing, Packaging and wholesale distribution of own Brand of FMCG products i.e. PINCON, having product range in edible oil
viz. Mustard Oil, Soya Oil and Rice Bran Oil, having market in different states.
PSL initiated its operation with wholesale distribution of IMFL in West Bengal for all the leading brands of IMFL. After gaining strong
market bonding with the around 2000+ retailers, PSL rolled out its first owned brand of IMFL being Pincon XXX Matured Rum.
Subsequently down the years different other own brands of IMFL in rum, whisky, vodka, gin etc. were launched in the market, along
with geographical spread in other states viz. Karnataka, Odisha, Jharkhand, Uttarakhand.Presently PSL is successfully having market
presence with 11 of its own brands of IMFL and tie up with 20000+ retail outlets.
Entry into FMCG segment with edible oil in 2013 opened up another vertical in the companys business line. This segment proved to
be a substantial contributor to the top line of PSLs business.
Corporate foot print in cheap liquor in 2015 with own brand of country liquor being Pincon Bangla No. 1, was yet another phenomenal
success story in PSLs business line. With initial overwhelming market response in this segment, there were brand acquisitions in
country liquor by PSL in 2016, whereby PSL catapulted into being the largest player in country liquor segment in the country.
What are the key strategies adopted by your company to reach todays pinnacle?
As mentioned earlier, PSL commenced its business operation in IMFL through whole sale distribution of all major reputed brands in
West Bengal. Having experienced the market pulse of consumer behavior, marketing strategy for own brand of liquor products were
broadly devised in terms of the following parameters.
Demographic Profile
Product Range Identification
Value Chain
Quality Control
Aggressive and Interactive Marketing Strategy
Logistic Support
Geographical Spread
Broadly, based on the above, Pincon Spirit Limited (PSL) has liquor products available in different value chain. PSL is having products
in entry level with price band of around ` 140/- per 750 ml of pack size and in in regular and semi-premium segment the price band is
` 260/- to ` 415/- per 1000 ml pack size. It is proposed to introduce Scotch whisky in premium segment in the price band of ` 1000/-
to ` 2500/- per 750 ml pack size. Thus with ultimate presence from entry level to premium level price range products, it could be said
that PSL would have participation in the entire value chain, making it unique company to have so.

PSL is having country spirit products which are produced using best of the technology confirming to the highest degree of standards
and hygiene. The ENA used is grain based, making the products of superior quality, leading to mass acceptance by the consumers and
the quality control measures make the products government regulatory compliant.
PSL with its aggressive marketing policy with extensive coverage of sales outs lets across different states has established fast growing
footprint.
Further, PSL adopted lateral strategy of graduating the consumer at the bottom-of-the-pyramid to a superior product rather than
compete with some of the established brands and take years to carve out an identity. This enabled the company to address a large
chunk of IMIL consumers to IMFL segment who were attracted by the price-value proposition. All these strategies enabled the company
go beyond enhancing the market share and enter new markets and also create a unique entry in an unexplored price segment. PSL is
the fore runners to produce and market country liquor with a corporate strategy and corporate look.
Kindly give us some brief about your IMFL and IMIL segment performance. Also share with us Pincons operations network.
The WBs Government policy of issuing composite licenses made it possible for IMFL and IMIL manufacturers to market their products
from the same retail points. This open market approach increased the throughput of liquor brands and products through retail
outlets. Since start of liquor manufacturing operations, the companyspresence in WB has grown from five districts in 2013-14to have
presence in most of the districts in West Bengal.
Pincon entered the IMFL segment through wholesale distribution and subsequently graduated to blending, bottling and marketing
proprietary brands in West Bengal, followed by fast growing foot print in Karnataka. PSL is also having increasing market share in
Odisha, Jharkhand and Uttarakhand. The company produces proprietary liquor brands with a manufacturing capacity of 120,000 cases
per month. The companys product portfolio comprises 11 brands across five categories (rum, whisky, vodka, brandy and gin). The
company is also engaged in wholesale distribution of leading liquor brands for which it enjoys tie-ups with more than 9,000 licensees
in WB and other states. IMFL segment contributes 45% to the total revenues of companys revenue. In 2015-16, revenues of IMFL
segment grew by more than 14% to ` 5.9 bnand sales volume grew to 11 lac + cases. During 2015-16, the company also launched Ruby
Gold Gin, which was well received by the customers.
Pincon entered the IMIL segment in 2015 and currently has the manufacturing capacity of 25 mn bottles per month, across three
manufacturing facilities in Central and South Bengal. The company has three proprietary brands in the IMIL segment and has 4,800
points-of-sale. During 2015-16, the company reported 100% growth in revenue of IMIL segment and total revenue from IMIL segment
touched ` 1.2 bn during the same period.
The company currently manages Nine blending and bottling facilities (Five owned and Four contract manufacturing) ensuring that
products reach 9,000+ retail outlets in WB, Karnataka, Odisha, Jharkhand and Uttarakhand, quickly and cost-effectively. It also has its
own oil refining and packaging plant in WB.
How did your company perform during the financial year 2015-16?
PSLs revenues increased by 43% from ` 6.93 bn in 2014-15 to ` 9.9bn in 2015-16. EBITDA grew by 64% from ` 350 mn in 2014-15 to
` 580 mn in 2015-16 while its Profit after tax increased by 53% from ` 170 mn to ` 260 mn during the same period. During 2015-16
the company acquired an IMIL bottling unit of National Industrial Corporation (Nicols) in Asansol. The company has also embarked on
the acquisition of two blending and bottling units in Dankuni and Barahanagar. The company also acquired two popular IMIL brands -
Bengal Tiger (more than 20 years old) and Uddan (more than 15 years old) that are expected to translate into enhanced off-take in
2016-17.
What are your companys future plans?

We have a wide range of future plans in order to take PSL to the next level of growth. Following are few measures we plan to take to
enhance growth:
We plan to leverage acquisitions to step up production to over 35 mn bottles per month in the IMIL segment
Acquire two bottling units in Malda and Cooch Behar
Further strengthening Pincons presence throughout WB and Karnataka
Widen the companys IMFL portfolio to reap higher benefits
Complete acquisition of Orbitol Solutions Pte Ltd, a Singapore based company, which will facilitate the export of our Ultra Force
XXX Jamaican Rum to the ASEAN countriesand also to import significant liquor brands.
Under IMFL segment, we plan to increase presence of core brands (Highland Blue Whisky, Pincon No.1 Select Whisky and Ultra
Force XXX Jamaican Rum) in Karnataka
Under IMIL segment, we plan to introduce four flavoured variants under the Bangla No. 1 brand and also extend the product
availability of newly acquired brands across West Bengal
We also plan to scout for acquisition opportunities to strengthen presence in North Bengal

Q&A
Rimjhim Ispat Limited
Yogesh Agarwal, Chairman & Managing Director
Please give us a brief overview of your company and its product portfolio.
Rimjhim Ispat is a leading name in the Indian Stainless Steel Industry. Our company was established in 1995 and has been working ever
since with the sole aim of manufacturing world class Stainless Steel products in India. Today, we are recognized not just in India but
also worldwide with 10% of our turnover coming from exports. We have grown to become 17th largest Stainless Steel Long products
manufacturer in the world.
Primarily, we are a stainless steel manufacturing company with a small exposure in the mild steel segment. Our facilities include Steel
Melt Shop, Wire Rod Mill, Wire and Bright Bar plant, HR Coil mill, CR Coil mill, Structure mill, TMT Rebar mill and Round and Flat mill.
We have oriented our product mix to keep pace with the market demand. A wide product range and a large market share helped
us achieve a turnover of over ` 1300 crores in 2015-16. The reason for our success lies in the expertise of our team, strong focus on
customer need and ability to adapt quickly & efficiently.
What are the key factors that differentiate your company from your peers?
Rimjhim Ispat has the widest range of product offering in Stainless Steel in India. We are the only company in the country offering
both Long-products (Wire Rod, Wire, Bright Bar) as well as flat-products (HR Coil, CR Coil) in Stainless Steel. This has only been possible
because of our universal product acceptability, due to our philosophy of never compromising with quality. We have stringent quality
checks, starting from raw material segregation to testing of finished product, to ensure only the best quality material goes out in the
market. Diverse product portfolio helps us cater to varying segments
Another factor differentiating us from our peers is cost-efficient best practices adopted by my team. We understand that the only way
to survive through the downturn is to cut down our cost of production. We have invested on men and machinery to make up for our
geographical disadvantage. We are based in Bundelkhand region of UP, far away from the port, which is a huge disadvantage. 90%
of our raw material is imported and a huge demand of Stainless Steel products is overseas, so we have to bear additional to and fro
transportation.
Most steel companies are reeling because of heavy debt burden. I believe in using internal cash accruals to fuel growth and capital
spending instead of increasing leverage. This has helped us with low debts on our books and keeps us in good stead in the coming
times.
What are your companys plans for the next five years?
We have always been moving forward with one eye on the market scenario and one eye on our customer demand. In the coming
years, we want to push aggressively in our newest segment of flat products. We plan to increase our cold-rolling capacity to cater to
the growing demand of Stainless Steel Pipes & Tubes. With that being said, we dont want to leave long-products too far behind. Our
plan for next five years include:
Installing 2 new Cold Rolling lines to achieve installed capacity of 6,000TPM
Increase Annealing and Pickling facility to meet the customer demands
Increasing flat product segment to 12,000TPM from current production of 2,000TPM
We plan on increasing our wire manufacturing capacity to 5,000TPM
Introducing specialty & duplex grade stainless steel wire rods
How will the Governments Make in India program affect the steel industry and impact your company?
Make in India program is a positive step, which will definitely help the manufacturing sector grow but the government shouldnt
forget about already existing manufacturing units. Steel industry has been provided relief through imposition of MIP and safeguard
duty but Stainless Steel has been left out from the list. I expect government to review the dumping of Stainless steel goods from china
and protect the domestic industry.

Overall, Make in India will definitely provide impetus to not just Stainless Steel but Steel industry in India. A huge portion of Stainless
Steel goes into industrial consumption so growth of manufacturing sector will help in growing Stainless Steel industry. Im also excited
about the Smart City initiative and the increased funding in the infrastructure, that has been announced in the current budget. Stainless
Steel use in household sector and city infrastructure is increasing. The new initiative will definitely provide a big boost to the steel
industry.
How is oversupply from Chinese steel industry impacting the Indian steel players? What measures is your company taking or
planning to take in order to reduce the impact?
Indian steel industry was bleeding because of dumping of Chinese steel. Chinese mills have lot of spare capacity due to global demand
weakness, which is forcing them to dump the material in India. These mills were getting export subsidies from their government, which
was helping them make up for the excessive low selling price.
Steel Industry has got a breather from the imposition of MIP, which will definitely help their bottom line but the government has
turned a blind eye on the problems of the stainless steel industry. I hope they will look into the problem soon. There is not much
that the company can do against such dumping, other than cutting down our cost of production to compete with them. Low cost of
production is helping us compete with the Chinese products domestically as well as in overseas markets.
Keeping our customers demands in mind, we keep up our quality and ensure timely delivery. This has led to high customer satisfaction
and a customer base, which has been associated with us for a long time. We strive to provide the best product and service to prevent
our customer from defecting towards the Chinese product.
What is your outlook for the Indian stainless steel industry for the next 10years?
Stainless Steel industry in India is currently going through a rough patch due to dumping of material in China. Most of the Stainless
Steel mills are suffering heavy losses and have idle capacity. I expect a turnaround soon with government planning on anti-dumping
duty. Also, global stainless steel demand has been growing with CAGR of 5.44% over last 25 years. It is way above the growth rate of
Carbon Steel, Aluminum or Copper. I expect the growth to continue with India leading the growth as we have a very miniscule stainless
steel consumption of 1.6 Kg/capita as opposed to over 45 Kg/capita in Taiwan and China.
Stainless Steel is already a huge part of our daily lives and we are surrounded by it. I expect the use to grow due to strength, non-
corrosive nature and aesthetics of the material. Stainless Steel Pipes & Tubes are finding increased use in household as well as the
industrial use. It will be a major growth sector in the upcoming years. I expect Indian Stainless Steel industry to recover from the
current slowdown and grow to become the second largest SS producing nation after China in the next 10 years.

Journey of an Enterprise
J1
Atria Convergence Technologies Pvt Ltd.
Mr. Bala Malladi
Chief Executive Ocer
At ACT, Bala leads the blue print and established ACT as a pioneer in resolved through concrete action plans.
of strategic business plans, steers optical ber technology with a fully The latest survey ndings reveal that
the senior management team of all scaled up FTTH based metro-ethernet more than 80% of the employees stated
business vertical heads in dening their broadband service in the country. various inputs and improvement areas
operating roadmap, personally oversees which resulted in 5000 plus action items
acquisitions under ACT and is the rst in Even as he was consolidating the cable that are currently being addresses by the
command to drive the ACT Way value operations business, Bala foresaw the company at various levels. One of the
system across all its operations. huge potential of the internet. Future key highlights of the survey has being
generations will have the benet of a that 83% of employees feel ACT is a great
Bala has grown ACTs business many folds completely connected internet of things place to work!
since he took charge as CEO in 2008. with smart governance, smart education
He successfully integrated multicultural and smart health care being at the As a result of his inspiring vision, absolute
businesses, introduced cutting edge forefront, he had opined back in 2008. conviction and a formidable team, Bala
services such as HD TV, IPTV and high has managed to transform a relatively
speed Broadband through ber, created Bala triggered this transformation small and loss-making organisation into
benchmark standards in customer service with the acquisition of Beam Telecom a 1000 crore+ turnover, 6000+ employee
and set a common vision for sustainable in 2009. It was at this stage that Bala group company.
growth in its 6000 odd employees and identied the important areas that
associates across its business entities. would have an impact on the broadband Financial performance
business and put together a full-edged,
Bala is a qualied Chartered Accountant professional management team. Within ACT has a healthy mix of equity and debt
and comes with tremendous experience a year, ACT had implemented Oracle funding. The company received its rst
of over 25+ years in the industry, 17 years SMS, institutionalised 16/7 customer equity funding from IVFA (India Value
of which he has worked with Unilever, service centres and launched attractive Fund Advisor)in February 2009. Bala has
where he successfully completed wide broadband packages. laid a strong foundation for the nancial
ranging projects in India and Europe in performance of the organization. ACT
nance, strategy and supply chain. He One of the biggest challenges facing the now has a strengthened balance sheet
also headed the commercial function of broadband industry in India was the lack that supports sustainable long term
Kimberly Clark Lever and represented of proper infrastructure and policies to growth.
HUL in this Joint Venture. encourage penetration and adoption.
To counter some of these odds, ACT From 2008 to 2015, ACT went from a loss
His rich experience of setting up new pioneered Fibre-to-the-home (FTTH) making company to a business posting
businesses and managing large portfolios technology to provide a consistent high- prots of ` 69 crores. The consolidated
of well-known brands across the globe speed broadband experience. On the nancials showed an EBITDA margin of
has helped him establish ACT as one of cable operation front, ACT voluntarily 32%. Today, more than 75% of the groups
the leading digital cable and Broadband digitized existing direct points and revenue comes from the Data/ Internet
service providers in India. encouraged local cable operators to business. ACT is currently growing at
digitize with partial box cost recovery. a CAGR of 72% per annum whilst the
Entrepreneurial spirit category is seeing a very sluggish growth.
Bala has institutionalised a work culture
When Bala Malladi took over Atria that is empowering, participative,
transparent and result-oriented. The Strategic direction, innovation and
Convergence Technology (ACT) as its global impact
CEO in 2008, ACT was only into the video organizations focus on transparency
business with its MSO operations. In has led to the best practice of listening
to every employee, by way of 95% ACTs business model is built around
the ensuing 7 years, Bala steered the the vision of creating radical social
company towards becoming the 4th participation in the annual employee
survey, with guaranteed anonymity to transformation through in-home
largest internet service provider (ISP) in entertainment, education and interactive
India with 1.8 million delighted customers understand unmet needs which are then
J2
services. To tap this market, ACT Fibernet less privileged children in the game of name a few. The founder of ACT, Mr.
is focused on oering consistent, tennis. The programme was launched in Sunder Raju is one of the most respected
high speed data connectivity to users association with BBMP (Bruhat Bengaluru personalities in the Indian business
through the seamless interconnection of Mahanagara Palike) and KSLTA (Karnataka fraternity. The senior management team
technology, applications and platforms. State Lawn Tennis Association) to spot of ACT comprises 30+ professionals
and train young talent from government hailing from diverse industries like FMCG,
As the company develops cutting-edge and corporation schools. Entertainment, Information & Technology,
technology, it is expanding into new areas Telecom, and Retail.
and cities to ensure it reaches as many AYUSHMANBHAVA:
people as possible. The most recent The programme Ayushmanbhava, which Key Business Milesones ACT Group
success story is Chennai where ACT when literally translated means live a (2008-2015)
already has already reached a subscriber long life, has been a solace to thousands
base of 1,00,000 since its launch there of people belonging to low-income Acquisition of Nellore and AP video
in late 2013. ACT intends to expand its groups. Under this initiative routine businesses in 2008
operations to new cities over next few health camps are organised by partnering
Group video subscriber base
years and has aggressive growth plans with reputed hospitals to provide
reached half million in 2009
diagnosis and quality treatment. The
Group reached 100 K broadband
Community, personal integrity and initiative has touched the lives of more
subscriber base in 2010
inuence than 5000 people in areas that have nil or
Third company in India to get BECIL
limited access to quality health care.
certication in 2011
An inherent belief in giving back to the HD services launched in Nellore in
society has helped the business grow. About the company - ACT (Atria 2011
Some of the companys key initiatives Convergence Technologies Pvt. Ltd.) Broadband launched across all our
have been possible from the belief operations in 2011
of making a dierence to society. Key With a vision to be the most admired Broadband subscriber base reached
initiatives in this area are: in-home entertainment, education and 250K in 2012
interactive services company that creates 50 Mbps product launched in
ACT SHIKSHA: radical social transformation and delights Hyderabad in 2013
ACT Shiksha is based on the belief that and empowers customers, ACT (Atria
Group crossed ` 500 Cr turnover in
quality education is the right of every Convergence Technologies Pvt. Ltd.) had
2013
child. The aim of this program is to enable its humble beginning in the year 2000.
Chennai Broadband operations
schools with whatever is required to Today, ACT is one of the countrys most
started in 2013
provide a holistic learning environment renowned triple play service providers
Vishakhapatnam MSO operations
for students, be it basic infrastructure like with close to 1.8 million happy customers
started in 2013
tables, benches, nourishing meals or even experiencing the following state-of-the-
NCD funding of ` 180 Cr raised in
computers connected with high-speed art services:
2013
internet. Under the CEOs leadership, ACT
Fibernet (Internet over Fiber Optics) ACT group crossed half million
has also connected 180 Government and
Corporation schools, thereby providing Broadband subscribers in June
Digital T.V
high speed internet access to over 30,000 2014 - rst company to cross this
HD TV threshold after TELCOS
students. Using technology as a means
to secure society, ACT has connected First ever 24x7 HD local News
ACT is headquartered in Bangalore Channels launched in Nellore in
close to 200 police stations and provided
and is spread across several towns & 2014
internet connectivity to 8 major Junctions
cities of Karnataka, Andhra Pradesh & Launched new brand, ACT Fibernet
for Police Departments to track Trac
Tamil Nadu. Pioneers in Fiber-To-The- across all operating markets in 2014
and road Crimes.
Home technology in India, ACT provides ACT became the second largest
broadband on Optic Fiber, designed private ISP in the country in 2014
Programs are planned to take technology
to carry vast amount of Information at 100 Mbps product launched in
to the markets around ACTs business
speed ranging from 1 Mbps to 1 Gbps. Bangalore in 2014
operations. As part of this initiative the
ACT is currently the 4th largest ISP In the Vishakapatnam Broadband
company has connected 13 villages in
wired broadband category and the largest operations started in 2015
Nellore district with high speed Internet
non-telco ISP in the country. ACT Fibernet services launched in
connectivity. ACT has conducted more
than 60 street clean-up drives under the Coimbatore in October 2015
ACT is funded by IVFA (India Value
Prakruti initiative, a hands-on approach Crossed the 1000 crore revenue
Fund Advisor), a premier private equity
where employees get together and mark in October 2015
investment fund which played a pivotal
involve local residents in cleaning up their Company is valued upwards of
role in facilitating several companies
surroundings. $ 500 mn in 2015
to develop into world-renowned
TA associates invests 40 % of the
organizations. Some of their most
ACT PLAY: stake in the company in 2015
successful portfolios have been - Biocon,
One of the Corporate Social Responsibility Broadband subscriber based crossed
Radio City, HDFC Bank, Meru, Mahindra
initiatives under Balas leadership is ACT 9.2 lakhs in March 2016
Hinoday and TTK Healthcare, just to
PLAY. ACT PLAY is focused on training
J3
UPL Limited
Incorporated in 1969, UPL Limited (formerly known as United Phosphorus Ltd) is a global generic crop protection,
chemicals and seeds company, headquartered in Mumbai. Since its inception, the company has taken great strides and
transformed itself into a ~ ` 133 billion company by FY 2016. In the past ve years, the company witnessed a revenue
growth of CAGR 12%. The performance of the company in the capital market too speaks volumes of the companys
perception amongst investors. The company is trading at P/E multiple of 19 (on May 24, 2016).
Inorganic Growth Topline Growth of UPL Ltd.

The key element of the companys growth can be attributed
to the strategic and timely acquisition initiatives undertaken
by the company. The acquisition of MTM Agrochemical (U.K.)
in 1994 was the companys rst international acquisition,
which enabled their foray into the European market and
add organophosphate insecticides and herbicides to their
product portfolio. Prior to 1994, the company was primarily
focused on the Indian market. However, post the success
of the MTM Agrochemical acquisition, the company
developed a strong focus in international markets. The
series of acquisitions pursued by the company has enabled
it to evolve itself into a giant in the industry which has 28
manufacturing facilities in 11 countries and market presence
in around 120 countries spread across six continents. Source: Company nancials 2005-16
Recent Major Acquisitions:

Year of Acquisition Co. Name Country Stake Acquired Sector
2011 DVA Agro Brazil 51%** Agrochemicals
2012 SD Agrichem Netherlands 100% Agrochemicals
** Stake since increased to 100%
Major Acquisitions of UPL Limited
Started Red Acquired Devrinol Acquired Advanta

Phosphorus from Zeneca for USA (Netherlands)
1969 1994 1996 2000 2006 2012
Acquisition of MTM Acquired Devrinol DVA Agro and SIB

Agrochemical (U.K.) from Zeneca for Japan acquisition in Brazil
J4
Brazil is one of the fastest growing agrochemical market globally. Brazil is expected to provide high growth opportunities for
the company. Furthermore, these acquisitions have expanded the companys product portfolio, enhanced its distribution
network, and provided it with signicance presence in Latin America. The acquisition of Dutch based SD Agrichem has
enhanced the companys distribution and geographical presence in Europe.
Geographic Diversity
The company has a diversied geographical market spread. The companys business is heavily reliant on the agriculture
sector which in-turn is highly susceptible to weather and prices of agricultural commodities. This presents high levels
of earnings volatility for the company. However, the company has wisely mitigated this risk by having exposure to wide
number of geographic markets, spread around 120 countries with a balanced portfolio distribution among its major
geographies of India, North America, Europe, Latin America, and Rest of World.
Focus on Cost Curtailment Revenue (%)

In a bid to optimize operational cost, the company has
bought about integration across its supply chain ranging
from raw material development to packaging. These eorts
have enabled the company to streamline its supply chain
and curb its production costs. The companys coal-red
boiler which became operational in FY 2015 has resulted
in a savings of ` 75 crore. The cumulative improvement
initiatives undertaken by the company in FY 2016, enabled
the company to witness a savings of ` 30 crore. The
sustained eort of the company to reduce costs and improve
operational eciency has enabled the company to post its
attractive net prots.
Source: Company nancials 2015-16
Product Innovation
The company has a diversied and comprehensive product portfolio of crop protection chemicals, which comprises of
fungicides, herbicides, insecticides, plant growth regulators, rodenticides, specialty chemicals, nutrifeeds and seeds. In
1969, the company under the leadership of founder, Mr. Rajnikant D. Shro, produced phosphorus and derivatives.
Today, the registered product portfolio of the company encompasses over 4,976 products.
The company has invested extensively in research and development activities as a part of its strategy to boost innovation.
It has constantly focused on new product launches which in-turn has enabled the company to continue its steady topline
growth as well as garner market share globally. In FY 2016 the company launched 44 new products globally. These new
launches are expected to become major revenue generators in the coming years. The company also prides itself as being
the largest producer of Mancozeb, Aluminium Phosphide, Cypermethrin, Monocrotophos and Devrinol in the world and
possesses 136 global patents.
Conclusion
UPL Ltd. has demonstrated every aspect of a successful company which has embarked a journey of transformation from
being an enterprise to an empire. These include strong geographic presence with special focus on high growth markets,
competitive supply chain management, high focus on innovation and cost reduction, a well-diversied product and
geographical market portfolio, coupled with decades of experience and expertise has made UPL Limited a champion in
the agrochemical market. For the past 10 years, the company has consistently outperformed its global sectorial growth.
The measures undertaken by the company will continue to fast track the company on the path of high growth and
achieve new milestones. Doing things better and constant focus on knowledge which forms the part of UPL Limiteds
DNA will continue to shape its growth story that will expand its empire across new horizons.
J5
The Art of Navigating
through Shallow Waters
(A true TEMAs success story)
Vision the industry did not pick up in manner where we can say it
Our vision for 2020 is to be worlds largest Design, Engineering was stable. The market scenario was that the oil prices were
and Fabrication Company involved in the manufacture of Shell at an all-time low and it was not a conducive environment
and Tube Heat Exchangers. We would like to position ourselves where process equipment manufacturing would thrive.
as a preferred heat exchanger manufacturing partner to
international End Users and Engineering Contractors owing Strategic Turnaround
to our innovative, cost eective, low maintenance and The eects of global recession and slowdown were very much
reliable product solutions, whilst contributing to our MAKE apparent, the recovery was quick in some industries but in the
IN INDIA program, designed to transform India into a global oil and gas sector, recovery takes a lot of time as the project
manufacturing hub. life cycle from initiation to commissioning is about four to ve
years and in some other cases close to seven years.
History
The cornerstone for TEMA India Limited was LEO Engineering The eects of this recession on TEMA were obvious as a major
works, set up in 1975 by Mr. Haresh Sippy. His zest for private renery cancelled work orders and placed hold on
innovation and taking up new challenges to provide innovative others mid-way through project execution. TEMA was relying
and cost eective solutions helped the company to grow at on green eld projects, but these were stalled. This resulted
an enormous pace. Tema India Limited was incorporated in decline in order book and consequently the sales.
on 21st December 1984 as a private limited company under
the name of Tema Exchanger Manufacturers Private Limited.
Subsequently, the legal structure of the Company was Decline in Sales
changed and the name was changed to its present name on 250
19th November 1999.
` in Crore
200
Business Prole
150
TEMA India is engaged in Design, Engineering and Fabrication
of heat exchangers, pressure vessels, columns and other static 100
equipment with applications in Oil & Gas, Petrochemical,
Fertilizer and Power industries. TEMA over the years has built 50
strong in-house design capabilities and fabrication capacities 0
to handle various metallurgies covering Carbon Steel, Stainless 2008-09 2009-10 2010-11 2011-12 2012-13
Steel, Low Alloy Steel, Nickel alloys and reactive metals such as
Titanium and Zirconium. With this expertise and experience, Period
TEMA addresses the complexities and challenges of modern
day engineering; and oers customized and cost eective
solutions to customers. The above graph shows that the steep decline started from
the year 2010-11 onwards and the sales hitting the bottom in
Global Recession 2012-13 with turnover of INR 70 crores.
Oil & Gas sector was the worst aected during global recession
of 2008. There was a sudden collapse in oil prices, caused by The management foresaw this kind of a situation and planned
the availability of surplus reserves against a declining demand. for risk mitigation immediately after 2008 recession after
This forced banks and nancial institutions to stop funding studying the impact and forecasting pace of growth. As the
high-investment extraction as well as rening projects across management went back to the drawing board, they were fully
the globe. This resulted in planned and approved projects to aware that certain factors are beyond control and are natural
be stalled indenitely or to be scrapped permanently. and they should be geared up for a minimum of two years of
lean period. Due to foresight and planning exercised by the
Eects on TEMA India management the eect of a low turnover is reduced to only
As a member in the energy value chain, TEMAs order book one year.
is completely dependent on green eld reneries and brown
eld projects of the Oil and Gas, Fertilizer and Power sector.
As many projects were stalled, EPCs who had placed orders on
TEMA, did not proceed with the execution. As we are aware,
J6
Strategy Formulation and Parameters Key Drivers for Growth
The approach was based on a disruptive business model Mr. H.K. Sippy has navigated TEMA out of the troubled times
which is complimented by volatility analysis, study which through his visionary and inspiring leadership. He proved the
informs prevalence of intra industry diversication and world why he is considered as an iconic gure in the eld
sampling techniques that identify risk reward parameters. of heat exchangers by this turnaround. The philosophy of
TEMAs management was able to attract private equity Mr. Haresh K. Sippy is that in a developing economy like India,
investor TATA Capital during such a turbulent phase, the SMEs are the life-blood of the nations growth story. SMEs
primary reason being TEMAs past track record and also the should gird themselves with a resolve to excel in PRODUCT
strategic business plan which convinced the TATAs that the INNOVATION, CUSTOMER FOCUS and SATISFACTION and
ship could be maneuvered in shallow waters that is to say should always look to increase production capacity which will
lean times. The other aspect which helped TEMA to do fund further augment national productivity.
rolling is its pricing strategy. TEMAs major chunk of business
during these years of upward movement was from exports, Mr. Akhil Sippy, as Chief Operations Ocer spearheaded
where head winds with respect to FOREX will wipe out any the major restructuring and expansion program of TEMA
chance of recovery or survival. during this time. He is the driving force behind establishing
and standardizing production norms across TEMA to reduce
Strategy Implementation production life cycle, cost and ensure high quality of fabricated
Internally an assessment committee was nominated to equipments. His profound insights have helped the company
conduct a due diligence of the existing systems and processes. to set up a state of the art machine shop.
The objectives of the committee were clearly dened and
articulated, which were versatility of the human capital Mr. Chetan Doshi, as Director Sales and Business
in adapting to a stricter and stringent technical and project Development he formulated sales strategies to penetrate
related compliance regime, nd out gaps if anywhere skilling unchartered territories and successfully developed a broad
and up gradation of knowledge is required, assets availability client/customer base in the India, US, Europe, Middle-east
and optimal utilization, lean manufacturing and funding and South-east Asia.
projections which will be a low cost although the working
capital will be strained because of a fourteen month working GLOBALLY COMPETITIVE and TOTALLY INDIAN
capital cycle. The report is submitted to the management TEMAs core strengths are design, easy to maintain, product
and detailed micro plans are prepared for implementation, quality. These aspects which make us Very International
monitoring and review. are the applications in which our equipment are used, the
prestigious clientele we have and the global technology
The results of the strategies implemented are evident in the licensors whom we work with. Our proprietary indigenously
company achieving a CAGR of 42 over four years developed technology makes us Totally Indian, the employee
base and the far-o and deep interiors of India where we
manufacture our equipment also makes us Totally Indian
250 233 company.
200 This helps TEMA compete against global giants in the eld of
heat exchangers. This is quite evident in it exports contribution
150 135 to its revenues.
` in Crore
100
70
Domestic % Export %
50
120
100 96
0 100 91
2012-13 2013-14 2014-15
%
80 68
Period 55
60 45
40 32
In 2015-16 further consolidation has taken place and the 20 4 9

growth has continued upward. 0
2010-11 2011-12 2012-13 2013-14 2014-15
The export contribution is more than half. We were able to
penetrate the Indian Power sector and currently we are the Period
leading HP/LP Feed water heaters and surface condensers in
India. We entered into the exotic metallurgies FPSO sector
and manufactured 63 heat exchangers for Petrobras in Brazil.
J7
Transcon Developers is forward looking Real Estate Group, one that believes in
enriching tomorrow by taking actions today. Transcon distinguishes itself as a group
that envisions and develops premium eco homes and commercial spaces across
Mumbai and Thane. The realty projects of the company have not only received
Pre-Certied Platinum Ratings from the IGBC; it also redenes the skyline with green
landmarks.
Incorporated in 1985, the companys mission is to provide spaces that breathe and mark the difference
between a house and a home. They deliver the exibility to combine ats and provides designated
areas for recreation. It believes that transformation happens when we fulll peoples dreams. It is this
belief that inspires them to create spaces which nurture, shape and celebrate life.
The core strategy of the company is to identify and acquire prime land at an early stage. The
companys expertise is in getting the land cleared and making it marketable. This strategy helped
to keep the costs lower than their competitors, thereby creating a value proposition for esteemed
customers.
Transcon Developers has successfully pioneered a change in the real estate landscape of India by
developing eco-efcient residential and commercial spaces. Every project stands strong on the deep
set belief and ideology of enriching lives, without placing at risk the resources and possibilities of our
future generations. In a megacity like Mumbai, the company is set out to expand its green footprint
by taking small but substantial steps.
All structures stand tall not on the foundations of concrete, but on the strong corporate philosophy that
drives Transcon. The company believes in developing premium quality homes around sustainability
that enhances living and support ecology. It trusts to be the wave of change in the real estate industry
that focuses on innovation, transparency and customer centricity. A responsible approach is always
an underlining commitment in all the actions company undertakes. Transcon Developers strongly
believe in we do not inherit the earth from our parents; we borrow it from our children.
Change is the only constant. To keep from becoming irrelevant in todays challenging time, businesses
can either adapt to change or enable it. Transcon is built on the idea of transformationnot in
response to a change in demand, or a trend, but as a bridge to new, never-before innovations in
living experiences.
The team at Transcon stands by and believes in adding to the future, changing approach towards
sustainable living. Creating awareness amongst the home owners about the ethos of conserving, and
preserving the environment by doing what we can.
The driving principle of the company is to provide sustainable living making the best use of light, wind,
water, power and raw material, and acting responsibly towards the environment. The company
projects are user friendly, where people of all ages and abilities can derive comfort and enjoy a good
life. Every project is initiated after thorough brain storming using the nest materials and resources
available. Transcon Developers take pride that our project Tirumala Habitats (Mulund), is stated to be
Indias 1st high rise platinum rated green residential building.
J8
The company has so far delivered area over six million sq.ft. under residential and commercial spaces;
Around 12.5 million sq.ft. area under construction across western and central Mumbai & Thane, holding
a land bank of over 1,000 acres in and around Mumbai.
To understand the companys future-centric approach; one need to only look at the past. At projects
that rose from disdained origins to tower across the horizon, lifestyles that embraced sustainability and
turned it into a fullling way of life long before it became fashionable, at facades, layouts, amenities
that mould the best of world living with Indian realities.
Some of the projects

undertaken by Transcon
Developers include Gokuldham
& Yashodham Township,
Goregaon; Megh Malhar
Raag & Villas, Goregaon;
Gagan Residences & Gagan
Shopping Arcade, Goregaon;
Ben Hur, Borivali; Saket, Thane.
Few of the ongoing projects are
Auris serenity, Malad; Tirumala
Habitats, Mulund; Transcon Belle
Vue, Mulund; Transcon Riviora,
Bandra; Transcon Triumph,
Andheri; Flora Heights, Andheri.
Transcon is all of these and more.

The company is the vanguard
of change, not only in the
edices that it constructs but
the way it goes about business:
creatively, honestly, and with
a deep-rooted commitment
to our customers guiding our
actions.
J9
The case study of Capital First Ltd shareholder approval to merge the and unviable nature of small ticket
should be considered as one of the subsidiary NBFC with the parent. The sizes. Capital First Limited has created
extraordinary story of transformation NBFC license of the company was a niche for itself in the marketplace.
and entrepreneurship considering the used as a platform to build a retail Further, the company also offers other
scale of change, and circumstances of business focused on niche areas of longer term products like business
founding of the company. We came self-employed people and consumers, loan, small enterprises loans with our
across an interesting story of how Mr. and transformed the company from a without property as security and other
Vaidyanathan met Warburg Pincus wholesale lending NBFC to a strong such loans. The company is listed on
on a ight from Delhi to Mumbai retail lending NBFC. During FY 10-15 both the major exchanges, NSE and
on March 7, 2012, and by the time the total loan assets of the company BSE.
they landed in Mumbai he had sold has grown from ` 9.35 bn to ` 119.75
the concept to the passenger seated bn a CAGR growth of 67% of which The success of the Capital First can be
next to him. Prior to this date, he had retail asset nancing business of the attributed to its healthy asset quality,
been doing the rounds making dozens company has grown from ` 0.88 bn to diversied portfolio, and nimbleness.
presentations to large well known ` 101.13 bn, a CAGR of 158 %. The The company has a diversied loan
PE rms for a whole year, explaining latest growth rate of retail nancing is book across segments. This growing
how there is space for another large over of 30%. asset base of the company provides it
nancial services player in a niche area,
but with no success. Lady luck nally Loan Asset Growth of Capital First Limited
smiled on him while in air.
The golden saying holds true that, a

horse is only as good as its rider. He
quit his job at the Executive Board
Position at ICICI Group to acquire
a stake in an existing NBFC with
the hope of turning it around with
equity backing from the markets or
a PE rm. In 2010, the company
was a NBFC with subsidiaries in
forex business, retail broking, wealth
management, asset advisory, and
wholesale real estate nancing with
a loan book of ` 9.35 billion. Being
short of funds, the company had also
Source: Annual Report, Fact Sheet, Investor Presentations
become a DSA for a leading private
sector bank.
He then built a proof of concept of Driven by increased aspiration, a strong lending platform to generate
nancing MSME and retail customers Indian consumers have needs to buy revenue. In addition, to raising capital
and secured an equity backing of consumer items like panels and air at regular intervals, another strength of
` 8.1 bn in 2012 from reputed PE conditioners which are small ticket the company lies in its strong checks
Warburg Pincus resulting in buyout loans. Similarly, there exist select and controls in the credit approval
of other majority and minority segments of self-employed people processes. The Gross NPA of the
shareholders. The company then and MSME who need loans for ofce company stood at 0.69% in FY15,
made structural changes by either furniture, PCs, printers and such needs, one of the lowest in the industry. The
closing down or selling off stakes in but credit is hard to come by mainly company says its Gross NPA will reach
the existing businesses and secured due to the difculty in credit evaluation about 1.6 % as the company starts
J 10
moving to the 90 Day reporting norm Timeline of Major Product Launches
which is quite low considering the
nature of the business. The expanding
asset base, coupled with low NPAs will
augment the companys growth in the
coming years.
The company actively invests in

technology platforms to create
efciencies that automate processes
and decision making by reducing Turn
Around Time, minimizing operational
risk and minimizing human error.
This has created unique advantages
for the company in the market place.
For instance, in the consumer durable
nancing segment, the company has
the capability of providing a credit
decision on a given customer within
Source: Annual Report, Fact Sheet, Investor Presentations
three minutes at the store. Also, the
company has a strong distribution
Since the founding of Capital First, and after realignment of revised accounting
setup across India covering customers
norms, the prot of the company has steadily grown in the last 12 quarters.
at 222 locations, with an employee
base of 1,070 as on March 31, 2015. Consistent Increase in PBT over last 8 Quarters
The company has the habit

of converting adversities in to
opportunities. Mr. Vaidyanathan
admits that small ticket sizes, short
tenors and small EMI pose difculties
to make these businesses economically
viable. The effort involved in these
businesses is often disproportionate
to the returns as they deal with 2 mn
customers for a small loan book.
Collecting EMIs as low as ` 1,500
from customers is quite expensive.
But he says he started this to stay
away from the big banks world. The
company has developed automated
credit scoring solutions which provide Source: Annual Report, Fact Sheet, Investor Presentations
quick solutions and decisions for the
customers. Furthermore, the company Mr. Vaidyanathan believes a moderate taxation rates coupled with a progressive
engages in cross selling insurance tax rate structure for small enterprises starting from as low as 2%, will ensure
products to its new and existing small enterprises, millions of whom deal in cash and dont pay taxes anyway, will
customers, thus garnering additional have better compliance. To this end he has been seen making pitches on public
revenues. forums to political leaders and ministers. He says it will make small enterprises
more bankable.
J 11
J 12
INDIAS TOP 500 COMPANIES Alphabetical Listing L1
Sr No Company Name Sector

1 3M India Limited Others
2 Aarti Drugs Limited Pharmaceuticals
3 Aarti Industries Limited Chemicals
4 ABB India Limited Power Equipment
5 Abbott India Limited Pharmaceuticals
6 ACC Limited Cement
7 Adani Enterprises Limited Trading
8 Adani Ports and Special Economic Zone Limited Others
9 Adani Power Limited Power
10 Aditya Birla Nuvo Limited Diversified
11 Ahluwalia Contracts (India) Limited Real Estate
12 AIA Engineering Limited Engineering Projects/ Capital Goods
13 Ajanta Pharma Limited Pharmaceuticals
14 Akzo Nobel India Limited Paints
15 Alembic Pharmaceuticals Limited Pharmaceuticals
16 Allahabad Bank Banks
17 Allcargo Logistics Limited Transport and Logistics
18 ALSTOM India Limited Power Equipment
19 Alstom T&D India Limited Power Equipment
20 Amara Raja Batteries Limited Batteries
21 Ambuja Cements Limited Cement
22 Andhra Bank Banks
23 Apar Industries Limited Electrical & Electronics
24 APL Apollo Tubes Limited Metal Products
25 Apollo Hospitals Enterprise Limited Others
26 Apollo Tyres Limited Tyres
27 Arvind Limited Textiles
28 Asahi India Glass Limited Glass and Ceramics
29 Ashok Leyland Limited Automobiles
30 Ashoka Buildcon Limited Construction - Infrastructure Development
31 Asian Paints Limited Paints
32 Astral Poly Technik Limited Plastic and Plastic Products
33 Atul Limited Chemicals
L2 Alphabetical Listing INDIAS TOP 500 COMPANIES

34 Aurobindo Pharma Limited Pharmaceuticals
35 Avanti Feeds Limited Food Products
36 Axis Bank Limited Banks
37 Bajaj Auto Limited Automobile - Two/Three Wheelers
38 Bajaj Electricals Limited Consumer Durables & Appliances
39 Bajaj Finance Limited FIs / NBFCs / Financial Services
40 Bajaj Holdings & Investment Limited FIs / NBFCs / Financial Services
41 Balkrishna Industries Limited Tyres
42 Balmer Lawrie & Co Limited Diversified
43 Balrampur Chini Mills Limited Sugar
44 Bank of Baroda Banks
45 Bank of India Banks
46 Bank of Maharashtra Banks
47 Banswara Syntex Limited Textiles
48 BASF India Limited Chemicals
49 Bata India Limited Footwear
50 Bayer CropScience Limited Agro Chemicals
51 BEML Limited Engineering Projects/ Capital Goods
52 Berger Paints India Limited Paints
53 BGR Energy Systems Limited Engineering Projects/ Capital Goods
54 Bharat Electronics Limited Electrical & Electronics
55 Bharat Forge Limited Auto Components
56 Bharat Heavy Electricals Limited Engineering Projects/ Capital Goods
57 Bharat Petroleum Corporation Limited Oil - Refining and Marketing
58 Bharti Airtel Limited Telecom Services
59 Bharti Infratel Limited Power Equipment
60 Biocon Limited Pharmaceuticals
61 Birla Corporation Limited Cement
62 Blue Dart Express Limited Transport and Logistics
63 Blue Star Limited Consumer Durables & Appliances
64 Bodal Chemicals Limited Chemicals
65 The Bombay Dyeing and Manufacturing Company Limited Textiles
66 Bosch Limited Auto Components
67 Brigade Enterprises Limited Real Estate
68 Britannia Industries Limited Food Products
69 BS Limited Power Equipment
70 Cadila Healthcare Limited Pharmaceuticals
71 Cairn India Limited Oil & Gas Exploration
72 Canara Bank Banks
73 Capital First Limited FIs / NBFCs / Financial Services
74 Carborundum Universal Limited Others

75 Castrol India Limited Specialty Oils and Lubricants
76 CEAT Limited Tyres
77 Central Bank of India Banks
78 Century Enka Limited Textiles
79 Century Plyboards (India) Limited Wood & Wood Products
80 Century Textiles and Industries Limited Cement
81 CESC Limited Power
82 Chambal Fertilisers and Chemicals Limited Fertilisers
83 Cholamandalam Investment and Finance Company Limited FIs / NBFCs / Financial Services
84 Cipla Limited Pharmaceuticals
85 City Union Bank Limited Banks
86 Clariant Chemicals (India) Limited Chemicals
87 Coal india Limited Coal & Coal Products
88 Colgate-Palmolive (India) Limited FMCG
89 Compuage Infocom Limited Others
90 Container Corporation of India Limited Transport and Logistics
91 Coromandel International Limited Fertilisers
92 Corporation Bank Banks
93 Cosmo Films Limited Packaging and Allied Activities
94 Crompton Greaves Limited Power Equipment
95 Cummins India Limited Engineering Projects/ Capital Goods
96 Cyient Limited Software and ITeS
97 D. B. Corp Limited Media and Entertainment
98 Dabur India Limited FMCG
99 Dalmia Bharat Sugar and Industries Limited Sugar
100 DCB Bank Limited Banks
101 DCM Shriram Industries Limited Sugar
102 DCM Shriram Limited Diversified
103 DCW Limited Chemicals
104 Deepak Fertilisers and Petrochemicals Corporation Limited Fertilisers
105 Deepak Nitrite Limited Chemicals
106 Dena Bank Banks
107 Dewan Housing Finance Corporation Limited FIs / NBFCs / Financial Services
108 Dhampur Sugar Mills Limited Sugar
109 The Dhanlaxmi Bank Limited Banks
110 Dhunseri Petrochem Limited Petrochemicals and Polymers
111 Diamond Power Infrastructure Limited Power Equipment
112 Divi's Laboratories Limited Pharmaceuticals
113 DLF Limited Real Estate
114 Dr. Reddys Laboratories Limited Pharmaceuticals
115 E.I.D.- Parry (India) Limited Sugar

116 Eicher Motors Limited Automobile - Two/Three Wheelers
117 EIH Limited Hotels
118 Electrosteel Castings Limited Metal Products
119 Emami Limited FMCG
120 Engineers India Limited Engineering Projects/ Capital Goods
121 Eros International Media Limited Media and Entertainment
122 Escorts Limited Automobiles
123 Eveready Industries India Limited Electrical & Electronics
124 Everest Industries Limited Others
125 Excel Crop Care Limited Agro Chemicals
126 Exide Industries Limited Batteries
127 FAG Bearings India Limited Bearings
128 Fedders Lloyd Corporation Limited Engineering Projects/ Capital Goods
129 The Federal Bank Limited Banks
130 Federal-Mogul Goetze (India) Limited Auto Components
131 Filatex India Limited Textiles
132 Finolex Cables Limited Electrical & Electronics
133 Finolex Industries Limited Plastic and Plastic Products
134 Flexituff International Limited Packaging and Allied Activities
135 Force Motors Limited Automobiles
136 Future Enterprises Limited Retail
137 Future Lifestyle Fashions Limited Retail
138 Gabriel India Limited Auto Components
139 GAIL (India) Limited Gas - Processing, Transmission and Marketing
140 GHCL Limited Chemicals
141 Gillette India Limited FMCG
142 GlaxoSmithKline Consumer Healthcare Limited Food Products
143 GlaxoSmithKline Pharmaceuticals Limited Pharmaceuticals
144 Glenmark Pharmaceuticals Limited Pharmaceuticals
145 Godawari Power & Ispat Limited Iron and Steel
146 Godfrey Phillips India Limited Cigarettes
147 Godrej Consumer Products Limited FMCG
148 Godrej Industries Limited Chemicals
149 Gokaldas Exports Limited Textiles
150 Gokul Refoils and Solvent Limited Food Products
151 Good Luck Steel Tubes Limited Metal Products
152 Goodyear India Limited Tyres
153 Granules India Limited Pharmaceuticals
154 Graphite India Limited Graphite and Electrodes
155 Grasim Industries Limited Textiles
156 The Great Eastern Shipping Company Limited Shipping

157 Greaves Cotton Limited Engineering Projects/ Capital Goods
158 Greenply Industries Limited Wood & Wood Products
159 Grindwell Norton Limited Others
160 GRUH Finance Limited FIs / NBFCs / Financial Services
161 Gujarat Alkalies and Chemicals Limited Chemicals
162 Gujarat Ambuja Exports Limited Food Products
163 Gujarat Fluorochemicals Limited Chemicals
164 Gujarat Gas Limited Gas - Processing, Transmission and Marketing
165 Gujarat Industries Power Company Limited Power
166 Gujarat Mineral Development Corporation Limited Coal & Coal Products
167 Gujarat Narmada Valley Fertilizers & Chemicals Limited Fertilisers
168 Gujarat State Fertilizers & Chemicals Limited Fertilisers
169 Gujarat State Petronet Limited Gas - Processing, Transmission and Marketing
170 Gulf Oil Lubricants India Limited Specialty Oils and Lubricants
171 Hatsun Agro Product Limited Food Products
172 Havells India Limited Electrical & Electronics
173 HBL Power Systems Limited Batteries
174 HCL Technologies Limited Software and ITeS
175 HDFC Bank Limited Banks
176 HEG Limited Graphite and Electrodes
177 HeidelbergCement India Limited Cement
178 Heritage Foods Limited Food Products
179 Hero MotoCorp Limited Automobile - Two/Three Wheelers
180 Hexaware Technologies Limited Software and ITeS
181 HIL Limited Cement
182 Himachal Futuristic Communications Limited Others
183 Himadri Chemicals & Industries Limited Chemicals
184 Himatsingka Seide Limited Textiles
185 Hindalco Industries Limited Non Ferrous & Precious Metals
186 Hinduja Global Solutions Limited Software and ITeS
187 Hindustan Construction Company Limited Construction - Infrastructure Development
188 Hindustan Copper Limited Non Ferrous & Precious Metals
189 Hindustan Petroleum Corporation Limited Oil - Refining and Marketing
190 Hindustan Unilever Limited FMCG
191 Hindustan Zinc Limited Non Ferrous & Precious Metals
192 Hitachi Home and Life Solutions (India) Limited Consumer Durables & Appliances
193 Honeywell Automation India Limited Electrical & Electronics
194 Housing Development Finance Corporation Limited FIs / NBFCs / Financial Services
195 HSIL Limited Glass and Ceramics
196 HT Media Limited Media and Entertainment
197 Huhtamaki PPL Limited Packaging and Allied Activities

198 I G Petrochemicals Limited Chemicals
199 ICICI Bank Limited Banks
200 IDBI Bank Limited Banks
201 Idea Cellular Limited Telecom Services
202 IDFC Limited FIs / NBFCs / Financial Services
203 IFB Industries Limited Consumer Durables & Appliances
204 IFCI Limited FIs / NBFCs / Financial Services
205 IL&FS Transportation Networks Limited Construction - Infrastructure Development
206 The India Cements Limited Cement
207 India Glycols Limited Chemicals
208 Indiabulls Housing Finance Limited FIs / NBFCs / Financial Services
209 Indian Bank Banks
210 The Indian Hotels Company Limited Hotels
211 The Indian Hume Pipe Company Limited Others
212 Indian Metals and Ferro Alloys Limited Iron and Steel
213 Indian Oil Corporation Limited Oil - Refining and Marketing
214 Indian Overseas Bank Banks
215 Indo Count Industries Limited Textiles
216 Indo Rama Synthetics (India) Limited Textiles
217 Indraprastha Gas Limited Gas - Processing, Transmission and Marketing
218 IndusInd Bank Limited Banks
219 INEOS Styrolution India Limited Plastic and Plastic Products
220 Infosys Limited Software and ITeS
221 Inox Leisure Limited Media and Entertainment
222 Insecticides (India) Limited Agro Chemicals
223 Ipca Laboratories Limited Pharmaceuticals
224 IRB Infrastructure Developers Limited Construction - Infrastructure Development
225 Isgec Heavy Engineering Limited Engineering Projects/ Capital Goods
226 ITC Limited Cigarettes
227 ITD Cementation India Limited Construction - Infrastructure Development
228 J. Kumar Infraprojects Limited Construction - Infrastructure Development
229 J.B.Chemicals & Pharmaceuticals Limited Pharmaceuticals
230 J.K. Cement Limited Cement
231 Jagran Prakashan Limited Media and Entertainment
232 Jain Irrigation Systems Limited Plastic and Plastic Products
233 Jaiprakash Power Ventures Limited Power
234 The Jammu and Kashmir Bank Limited Banks
235 Jamna Auto Industries Limited Auto Components
236 Jay Bharat Maruti Limited Auto Components
237 Jayaswal Neco Industries Limited Iron and Steel
238 JBF Industries Limited Petrochemicals and Polymers

239 Jindal Poly Films Limited Packaging and Allied Activities
240 Jindal Saw Limited Metal Products
241 JK Lakshmi Cement Limited Cement
242 JK Paper Limited Paper & Paper Products
243 JK Tyre & Industries Limited Tyres
244 JMC Projects (India) Limited Construction - Infrastructure Development
245 JSW Energy Limited Power
246 JSW Steel Limited Iron and Steel
247 Jubilant FoodWorks Limited Others
248 Jubilant Life Sciences Limited Pharmaceuticals
249 JVL Agro Industries Limited Food Products
250 Jyothy Laboratories Limited FMCG
251 K. P. R. Mill Limited Textiles
252 Kajaria Ceramics Limited Glass and Ceramics
253 Kalpataru Power Transmission Limited Power Equipment
254 Kalyani Steels Limited Iron and Steel
255 Kansai Nerolac Paints Limited Paints
256 The Karnataka Bank Limited Banks
257 The Karur Vysya Bank Limited Banks
258 Kaveri Seed Company Limited Others
259 KEC International Limited Power Equipment
260 KEI Industries Limited Electrical & Electronics
261 Kirloskar Brothers Limited Engineering Projects/ Capital Goods
262 Kirloskar Ferrous Industries Limited Iron and Steel
263 Kirloskar Oil Engines Limited Engineering Projects/ Capital Goods
264 Kkalpana Industries (India) Limited Plastic and Plastic Products
265 Kohinoor Foods Limited Food Products
266 Kotak Mahindra Bank Limited Banks
267 Kothari Products Limited Trading
268 KPIT Technologies Limited Software and ITeS
269 KRBL Limited Food Products
270 Kwality Limited Food Products
271 L.G. Balakrishnan & Bros Limited Auto Components
272 Lakshmi Machine Works Limited Engineering Projects/ Capital Goods
273 The Lakshmi Vilas Bank Limited Banks
274 Larsen & Toubro Limited Construction - Infrastructure Development
275 LIC Housing Finance Limited FIs / NBFCs / Financial Services
276 Linde India Limited Chemicals
277 Lloyd Electric & Engineering Limited Consumer Durables & Appliances
278 Loyal Textile Mills Limited Textiles
279 LT Foods Limited Food Products

280 Lumax Industries Limited Auto Components
281 Lupin Limited Pharmaceuticals
282 Mafatlal Industries Limited Textiles
283 Magma Fincorp Limited FIs / NBFCs / Financial Services
284 Maharashtra Seamless Limited Metal Products
285 Mahindra & Mahindra Financial Services Limited FIs / NBFCs / Financial Services
286 Mahindra & Mahindra Limited Automobiles
287 Mahindra CIE Automotive Limited Auto Components
288 Man Industries (India) Limited Metal Products
289 Manappuram Finance Limited FIs / NBFCs / Financial Services
290 Mandhana Industries Limited Textiles
291 Mangalore Chemicals and Fertilizers Limited Fertilisers
292 Mangalore Refinery and Petrochemicals Limited Oil - Refining and Marketing
293 Marico Limited FMCG
294 Maruti Suzuki India Limited Automobiles
295 MBL Infrastructures Limited Construction - Infrastructure Development
296 Mcleod Russel India Limited Food Products
297 McNally Bharat Engineering Company Limited Engineering Projects/ Capital Goods
298 Meghmani Organics Limited Agro Chemicals
299 Minda Industries Limited Auto Components
300 Mindtree Limited Software and ITeS
301 MMTC Limited Trading
302 MOIL Limited Mining - Metals & Minerals
303 Motherson Sumi Systems Limited Auto Components
304 Mphasis Limited Software and ITeS
305 MRF Limited Tyres
306 Munjal Showa Limited Auto Components
307 Muthoot Finance Limited FIs / NBFCs / Financial Services
308 Nahar Industrial Enterprises Limited Textiles
309 Nahar Spinning Mills Limited Textiles
310 Nandan Denim Limited Textiles
311 National Aluminium Company Limited Non Ferrous & Precious Metals
312 National Buildings Construction Corporation Limited Construction - Infrastructure Development
313 National Fertilizers Limited Fertilisers
314 Nava Bharat Ventures Limited Iron and Steel
315 Navneet Education Limited Others
316 NCC Limited Construction - Infrastructure Development
317 Nectar Lifesciences Limited Pharmaceuticals
318 Nestl India Limited Food Products
319 Neyveli Lignite Corporation Limited Power
320 NHPC Limited Power

321 NIIT Technologies Limited Software and ITeS
322 Nilkamal Limited Plastic and Plastic Products
323 NMDC Limited Mining - Metals & Minerals
324 Novartis India Limited Pharmaceuticals
325 NTPC Limited Power
326 OCL India Limited Cement
327 Oil and Natural Gas Corporation Limited Oil & Gas Exploration
328 Oil India Limited Oil & Gas Exploration
329 Omax Autos Limited Auto Components
330 Omaxe Limited Real Estate
331 Oracle Financial Services Software Limited Software and ITeS
332 Orient Cement Limited Cement
333 Orient Paper & Industries Limited Consumer Durables & Appliances
334 Oriental Bank of Commerce Banks
335 Page Industries Limited Textiles
336 Patel Engineering Limited Construction - Infrastructure Development
337 PC Jeweller Limited Gems and Jewellery
338 Persistent Systems Limited Software and ITeS
339 Petronet LNG Limited Gas - Processing, Transmission and Marketing
340 Pfizer Limited Pharmaceuticals
341 Phillips Carbon Black Limited Others
342 PI Industries Limited Agro Chemicals
343 Pidilite Industries Limited Chemicals
344 Piramal Enterprises Limited Pharmaceuticals
345 Polaris Consulting & Services Limited Software and ITeS
346 Polyplex Corporation Limited Packaging and Allied Activities
347 Power Finance Corporation Limited FIs / NBFCs / Financial Services
348 Power Grid Corporation of India Limited Power
349 Pratibha Industries Limited Construction - Infrastructure Development
350 Prestige Estates Projects Limited Real Estate
351 Procter & Gamble Hygiene and Health Care Limited FMCG
352 PTC India Limited Power
353 Punj Lloyd Limited Engineering Projects/ Capital Goods
354 Punjab & Sind Bank Banks
355 Punjab National Bank Banks
356 Puravankara Projects Limited Real Estate
357 PVR Limited Media and Entertainment
358 Radico Khaitan Limited Liquor
359 Rajesh Exports Limited Gems and Jewellery
360 Rallis India Limited Agro Chemicals
361 The Ramco Cements Limited Cement

362 Rashtriya Chemicals and Fertilizers Limited Fertilisers
363 Ratnamani Metals & Tubes Limited Metal Products
364 Raymond Limited Textiles
365 Redington (India) Limited Others
366 Relaxo Footwears Limited Footwear
367 Reliance Capital Limited FIs / NBFCs / Financial Services
368 Reliance Communications Limited Telecom Services
369 Reliance Industries Limited Oil - Refining and Marketing
370 Reliance Infrastructure Limited Power
371 Renaissance Jewellery Limited Gems and Jewellery
372 Responsive Industries Limited Plastic and Plastic Products
373 Rolta India Limited Software and ITeS
374 RSWM Limited Textiles
375 Ruchi Infrastructure Limited Food Products
376 Ruchi Soya Industries Limited Food Products
377 Rupa & Company Limited Textiles
378 Rural Electrification Corporation Limited FIs / NBFCs / Financial Services
379 Sadbhav Engineering Limited Construction - Infrastructure Development
380 Sangam (India) Limited Textiles
381 Sanofi India Limited Pharmaceuticals
382 Sanwaria Agro Oils Limited Food Products
383 Sarda Energy & Minerals Limited Iron and Steel
384 Savita Oil Technologies Limited Specialty Oils and Lubricants
385 Seshasayee Paper and Boards Limited Paper & Paper Products
386 Shasun Pharmaceuticals Limited Pharmaceuticals
387 Shilpi Cable Technologies Limited Electrical & Electronics
388 The Shipping Corporation of India Limited Shipping
389 Shirpur Gold Refinery Limited Non Ferrous & Precious Metals
390 Shoppers Stop Limited Retail
391 Shree Cement Limited Cement
392 Shree Renuka Sugars Limited Sugar
393 Shrenuj & Co. Limited Gems and Jewellery
394 Shriram City Union Finance Limited FIs / NBFCs / Financial Services
395 Shriram Transport Finance Company Limited FIs / NBFCs / Financial Services
396 Siemens Limited Engineering Projects/ Capital Goods
397 Simplex Infrastructures Limited Construction - Infrastructure Development
398 Sintex Industries Limited Plastic and Plastic Products
399 Siyaram Silk Mills Limited Textiles
400 SJVN Limited Power
401 SKF India Limited Bearings
402 Skipper Limited Metal Products

403 SML Isuzu Limited Automobiles
404 Sobha Limited Real Estate
405 Solar Industries India Limited Others
406 Somany Ceramics Limited Glass and Ceramics
407 Sona Koyo Steering Systems Limited Auto Components
408 The South Indian Bank Limited Banks
409 SPML Infra Limited Construction - Infrastructure Development
410 Srei Infrastructure Finance Limited FIs / NBFCs / Financial Services
411 SRF Limited Textiles
412 Srikalahasthi Pipes Limited Metal Products
413 SRS Limited Gems and Jewellery
414 State Bank of Bikaner & Jaipur Banks
415 State Bank of India Banks
416 State Bank of Mysore Banks
417 State Bank of Travancore Banks
418 The State Trading Corporation of India Limited Trading
419 Steel Authority of India Limited Iron and Steel
420 Steel Exchange India Limited Iron and Steel
421 Steel Strips Wheels Limited Auto Components
422 Sterlite Technologies Limited Power Equipment
423 Strides Shasun Limited Pharmaceuticals
424 Subros Limited Auto Components
425 Sudarshan Chemical Industries Limited Chemicals
426 Sun Pharmaceutical Industries Limited Pharmaceuticals
427 Sun TV Network Limited Media and Entertainment
428 Sundaram Finance Limited FIs / NBFCs / Financial Services
429 Sundaram-Clayton Limited Auto Components
430 Sundram Fasteners Limited Auto Components
431 Sunflag Iron and Steel Company Limited Iron and Steel
432 Sunil Hitech Engineers Limited Engineering Projects/ Capital Goods
433 The Supreme Industries Limited Plastic and Plastic Products
434 Supreme Infrastructure India Limited Construction - Infrastructure Development
435 Supreme Petrochem Limited Petrochemicals and Polymers
436 Surya Roshni Limited Metal Products
437 Sutlej Textiles and Industries Limited Textiles
438 Syndicate Bank Banks
439 Tamil Nadu Newsprint and Papers Limited Paper & Paper Products
440 Tara Jewels Limited Gems and Jewellery
441 Tata Chemicals Limited Fertilisers
442 Tata Communications Limited Telecom Services
443 Tata Consultancy Services Limited Software and ITeS

444 Tata Global Beverages Limited Food Products
445 Tata Metaliks Limited Iron and Steel
446 Tata Motors Limited Automobiles
447 The Tata Power Company Limited Power
448 Tata Steel Limited Iron and Steel
449 Tech Mahindra Limited Software and ITeS
450 Thangamayil Jewellery Limited Gems and Jewellery
451 Thermax Limited Engineering Projects/ Capital Goods
452 Tide Water Oil Co. (India) Limited Specialty Oils and Lubricants
453 Time Technoplast Limited Packaging and Allied Activities
454 Titan Company Limited Gems and Jewellery
455 Torrent Pharmaceuticals Limited Pharmaceuticals
456 Torrent Power Limited Power
457 Transport Corporation of India Limited Transport and Logistics
458 Trent Limited Retail
459 Tribhovandas Bhimji Zaveri Limited Gems and Jewellery
460 Trident Limited Textiles
461 TTK Prestige Limited Consumer Durables & Appliances
462 Tube Investments of India Limited Auto Components
463 TVS Motor Company Limited Automobile - Two/Three Wheelers
464 TVS Srichakra Limited Tyres
465 UCO Bank Banks
466 Uflex Limited Packaging and Allied Activities
467 UltraTech Cement Limited Cement
468 Unichem Laboratories Limited Pharmaceuticals
469 Union Bank of India Banks
470 United Bank of India Banks
471 United Breweries Limited Liquor
472 United Spirits Limited Liquor
473 UPL Limited Agro Chemicals
474 Usha Martin Limited Iron and Steel
475 Ushdev International Limited Trading
476 Usher Agro Limited Food Products
477 Uttam Galva Steels Limited Iron and Steel
478 VA Tech Wabag Limited Engineering Projects/ Capital Goods
479 Vakrangee Limited Software and ITeS
480 Vardhman Textiles Limited Textiles
481 Vedanta Limited Mining - Metals & Minerals
482 Venky's (India) Limited Food Products
483 V-Guard Industries Limited Electrical & Electronics
484 Videocon Industries Limited Consumer Durables & Appliances

485 Vijaya Bank Banks
486 VIP Industries Limited Others
487 Visaka Industries Limited Others
488 Voltas Limited Consumer Durables & Appliances
489 WABCO India Limited Auto Components
490 Welspun Corp Limited Metal Products
491 Welspun India Limited Textiles
492 The West Coast Paper Mills Limited Paper & Paper Products
493 Wheels India Limited Auto Components
494 Whirlpool of India Limited Consumer Durables & Appliances
495 Wipro Limited Software and ITeS
496 Wockhardt Limited Pharmaceuticals
497 Yes Bank Limited Banks
498 Zee Entertainment Enterprises Limited Media and Entertainment
499 Zensar Technologies Limited Software and ITeS
500 Zuari Agro Chemicals Limited Fertilisers
INDIAS TOP 500 COMPANIES Ranking By Total Income L15
Rank
Company Name Total Income (` Mn) (%) Change
2016 2015
1 1 Indian Oil Corporation Limited 4,416,701.8 (7.3)
2 2 Reliance Industries Limited 3,377,970.0 (15.4)
3 3 Bharat Petroleum Corporation Limited 2,402,431.5 (8.1)
4 4 Hindustan Petroleum Corporation Limited 2,077,945.9 (7.4)
5 5 State Bank of India 1,749,729.6 13.0
6 7 Oil and Natural Gas Corporation Limited 882,375.2 (2.6)
7 10 Tata Consultancy Services Limited 780,447.9 15.1
8 8 NTPC Limited 753,623.7 0.9
9 13 ICICI Bank Limited 612,672.7 12.2
10 14 Bharti Airtel Limited 606,894.0 19.5
11 11 Larsen & Toubro Limited 593,007.8 1.4
12 9 Mangalore Refinery and Petrochemicals Limited 582,675.2 (19.2)
13 12 GAIL (India) Limited 575,861.3 (1.4)
14 16 HDFC Bank Limited 574,662.5 17.1
15 17 Punjab National Bank 522,060.9 9.2
16 21 Maruti Suzuki India Limited 508,022.0 14.1
17 19 Infosys Limited 506,370.0 7.9
18 22 Canara Bank 483,002.9 11.1
19 25 Bank of India 476,626.1 12.9
20 23 Bank of Baroda 473,655.6 9.1
21 18 Steel Authority of India Limited* 467,315.6 (1.8)
22 20 JSW Steel Limited 465,540.9 2.0
23 30 Axis Bank Limited 438,436.5 15.2
24 28 Wipro Limited 437,088.0 8.3
25 24 Tata Steel Limited 423,677.8 (0.3)
26 26 Mahindra & Mahindra Limited 397,943.6 (3.5)
27 31 Petronet LNG Limited 396,557.3 4.8
28 29 Tata Motors Limited 381,761.5 0.1
29 32 ITC Limited 380,505.3 10.8
30 45 Rajesh Exports Limited 379,235.6 61.1
31 33 Union Bank of India 356,069.6 10.7
32 36 Hindalco Industries Limited@ 354,089.9 22.2
33 34 Vedanta Limited 345,112.7 13.7
L16 Ranking By Total Income INDIAS TOP 500 COMPANIES
Rank
2016 2015
34 35 IDBI Bank Limited 321,616.2 8.7
35 39 Idea Cellular Limited 317,318.1 20.2
36 37 Hindustan Unilever Limited 314,240.1 9.7
37 27 Bharat Heavy Electricals Limited 314,034.3 (22.9)
38 43 Ruchi Soya Industries Limited* 284,116.1 15.5
39 38 Central Bank of India 283,030.1 7.4
40 40 Hero MotoCorp Limited 280,780.4 9.2
41 44 Housing Development Finance Corporation Limited 274,708.6 13.5
42 42 Indian Overseas Bank 260,769.3 4.9
43 46 Power Finance Corporation Limited 249,068.0 16.7
44 51 Syndicate Bank 237,247.5 18.9
45 50 UltraTech Cement Limited 233,079.5 13.1
46 49 Bajaj Auto Limited 221,944.3 6.4
47 47 Oriental Bank of Commerce 220,827.8 5.3
48 48 Allahabad Bank 217,121.3 3.8
49 53 UCO Bank 213,625.3 9.3
50 52 Corporation Bank 210,389.0 7.3
51 55 Rural Electrification Corporation Limited 203,880.5 19.1
52 57 Tech Mahindra Limited* 192,872.0 17.9
53 41 MMTC Limited 184,092.7 (27.8)
54 54 HCL Technologies Limited 183,529.4 7.0
55 62 Andhra Bank 178,684.4 14.3
56 59 Power Grid Corporation of India Limited* 177,800.4 13.1
57 60 Hindustan Zinc Limited 176,094.4 13.4
58 56 Indian Bank 172,163.0 3.6
59 68 Adani Enterprises Limited 162,125.0 24.8
60 61 The State Trading Corporation of India Limited 147,029.2 (6.3)
61 64 NMDC Limited 146,218.1 3.3
62 58 Coal india Limited 145,305.2 (11.4)
63 67 MRF Limited^^ 136,889.2 3.2
64 88 Ashok Leyland Limited 136,866.5 36.1
65 69 Bank of Maharashtra 136,714.2 6.4
66 74 Yes Bank Limited 136,184.7 16.4
67 65 Videocon Industries Limited*# 134,218.3 8.4
68 76 Vijaya Bank 131,524.9 15.2
69 75 PTC India Limited 131,493.6 13.7
70 70 Reliance Infrastructure Limited 120,982.1 (3.8)
71 87 IndusInd Bank Limited 120,958.3 19.2
72 78 Redington (India) Limited 120,703.8 6.7
73 77 ACC Limited 120,064.9 5.0
Rank
2016 2015
74 81 Titan Company Limited 119,737.9 8.5
75 73 United Bank of India 119,273.9 1.0
76 84 Asian Paints Limited 118,356.5 11.7
77 86 Kotak Mahindra Bank Limited 117,483.2 15.6
78 82 Dena Bank 114,848.2 5.4
79 92 Coromandel International Limited 113,408.6 20.1
80 71 Reliance Communications Limited 111,360.0 (10.5)
81 79 Adani Power Limited* 110,370.1 (3.8)
82 80 Oil India Limited 110,198.6 (1.7)
83 94 LIC Housing Finance Limited 107,986.5 15.7
84 83 Siemens Limited 106,728.0 (1.0)
85 101 Torrent Power Limited 105,969.2 20.2
86 85 State Bank of Travancore 105,833.9 0.2
87 91 Ambuja Cements Limited 104,071.0 9.0
88 95 Future Enterprises Limited 103,683.9 (10.7)
89 90 Cipla Limited 102,796.9 5.6
90 100 Tata Chemicals Limited 102,768.1 15.7
91 89 Dr. Reddys Laboratories Limited 102,338.0 3.6
92 110 TVS Motor Company Limited 101,308.3 26.7
93 98 Bosch Limited# 101,206.4 11.1
94 97 Nestl India Limited 99,421.6 8.3
95 93 Lupin Limited 99,331.0 6.2
96 99 State Bank of Bikaner & Jaipur 99,318.4 9.8
97 96 The Tata Power Company Limited 97,023.7 4.0
98 107 IDFC Limited 92,126.3 11.9
99 106 Aditya Birla Nuvo Limited 91,197.1 8.5
100 - Gujarat Gas Limited 91,134.0 15.3
101 105 Punjab & Sind Bank 90,173.0 7.3
102 108 Chambal Fertilisers and Chemicals Limited 90,172.1 10.7
103 102 Apollo Tyres Limited 89,753.6 2.1
104 130 Ushdev International Limited 89,345.3 42.5
105 72 Cairn India Limited 88,551.9 (25.1)
106 111 Shriram Transport Finance Company Limited 86,447.2 9.6
107 109 National Fertilizers Limited 85,617.6 6.3
108 129 NCC Limited 84,920.1 35.4
109 114 The Federal Bank Limited 82,977.7 8.6
110 234 Sun Pharmaceutical Industries Limited 82,287.7 173.7
111 103 United Spirits Limited* 82,093.1 (5.3)
112 116 Aurobindo Pharma Limited 81,623.2 13.6
113 115 National Aluminium Company Limited 80,554.5 9.8
Rank
2016 2015
114 113 Crompton Greaves Limited 80,163.2 4.1
115 123 Rashtriya Chemicals and Fertilizers Limited 77,878.1 16.9
116 112 ABB India Limited 77,505.5 0.3
117 120 State Bank of Mysore 77,076.0 11.8
118 118 NHPC Limited 76,635.8 9.6
119 117 The Jammu and Kashmir Bank Limited 76,551.0 7.0
120 122 Century Textiles and Industries Limited 75,793.1 13.2
121 145 Bharti Infratel Limited 73,843.0 33.5
122 121 Bharat Electronics Limited 73,206.1 9.2
123 128 Britannia Industries Limited 72,635.2 14.5
124 139 Indiabulls Housing Finance Limited 71,573.5 25.6
125 146 Uttam Galva Steels Limited@ 69,874.8 27.1
126 135 Exide Industries Limited 69,062.2 15.1
127 119 Neyveli Lignite Corporation Limited 67,969.7 (2.8)
128 124 KEC International Limited 67,695.0 1.9
129 142 Jindal Saw Limited 67,232.6 20.2
130 136 Grasim Industries Limited 66,806.5 11.6
131 134 JSW Energy Limited 66,256.5 9.4
132 132 Shree Cement Limited 65,914.2 8.5
133 147 PC Jeweller Limited 64,077.1 19.3
134 141 CESC Limited 62,736.0 11.8
135 137 JK Tyre & Industries Limited 61,399.8 2.9
136 158 Dewan Housing Finance Corporation Limited 59,816.4 20.4
137 140 The Karur Vysya Bank Limited 59,767.2 5.2
138 151 Container Corporation of India Limited 59,443.2 11.0
139 126 Gokul Refoils and Solvent Limited 59,217.8 (7.6)
140 153 Vardhman Textiles Limited 58,990.6 12.7
141 148 The South Indian Bank Limited 57,832.9 7.4
142 125 Shree Renuka Sugars Limited 57,480.9 (12.6)
143 104 Punj Lloyd Limited 56,886.7 (33.2)
144 144 Simplex Infrastructures Limited* 56,346.0 1.5
145 149 CEAT Limited 56,202.9 4.6
146 159 Mahindra & Mahindra Financial Services Limited 55,847.1 12.8
147 150 UPL Limited 55,754.6 5.5
148 157 Dabur India Limited 55,691.3 11.8
149 131 DCM Shriram Limited 55,567.3 (9.4)
150 154 Zuari Agro Chemicals Limited 55,563.1 6.4
151 172 Cadila Healthcare Limited 54,696.0 25.7
152 143 Gujarat State Fertilizers & Chemicals Limited 54,265.1 (2.0)
153 183 Bajaj Finance Limited 54,182.3 33.0
Rank
2016 2015
154 161 Arvind Limited 53,529.4 10.2
155 152 Voltas Limited 53,180.6 0.7
156 165 Havells India Limited 52,909.0 11.1
157 168 Kwality Limited 52,805.7 15.3
158 166 The Karnataka Bank Limited 52,054.2 10.9
159 273 Glenmark Pharmaceuticals Limited 51,705.4 118.3
160 155 Welspun Corp Limited 50,963.8 1.1
161 167 Motherson Sumi Systems Limited 50,708.0 9.5
162 170 Apar Industries Limited 50,282.2 10.4
163 164 Tata Communications Limited 49,898.8 3.1
164 189 Marico Limited 48,220.0 23.1
165 179 National Buildings Construction Corporation Limited 48,087.2 15.2
166 173 Thermax Limited 48,082.2 10.1
167 176 United Breweries Limited 47,298.8 11.3
168 171 BASF India Limited 47,156.6 6.3
169 162 Gujarat Narmada Valley Fertilizers & Chemicals Limited 46,932.6 (4.1)
170 180 Cummins India Limited 46,923.8 13.0
171 175 Kothari Products Limited 46,659.0 7.9
172 156 Adani Ports and Special Economic Zone Limited 46,475.2 (7.6)
173 204 Bharat Forge Limited 46,413.7 32.1
174 192 Apollo Hospitals Enterprise Limited 46,380.6 19.4
175 - The Shipping Corporation of India Limited 45,876.1 1.1
176 184 GlaxoSmithKline Consumer Healthcare Limited 45,294.8 (10.8)
177 199 Welspun India Limited 45,019.8 23.9
178 181 Godrej Consumer Products Limited 44,873.1 8.9
179 182 Kalpataru Power Transmission Limited 44,744.8 9.0
180 169 The India Cements Limited 44,543.9 (1.7)
181 188 Pidilite Industries Limited 44,408.5 13.3
182 174 JVL Agro Industries Limited 44,096.8 1.3
183 160 Muthoot Finance Limited 43,246.3 (12.6)
184 177 Hindustan Construction Company Limited@ 42,817.8 0.6
185 185 Bajaj Electricals Limited 42,815.6 5.8
186 178 Jain Irrigation Systems Limited 42,770.0 2.4
187 186 The Supreme Industries Limited 42,636.3 7.3
188 205 Amara Raja Batteries Limited 42,536.3 22.2
189 163 JBF Industries Limited 41,833.1 (13.7)
190 213 Sintex Industries Limited 41,182.4 23.0
191 250 Jaiprakash Power Ventures Limited 40,619.2 48.2
192 194 DLF Limited 40,618.8 6.2
193 201 Balkrishna Industries Limited 40,597.0 13.1
Rank
2016 2015
194 127 Escorts Limited 40,464.8 (36.5)
195 200 Colgate-Palmolive (India) Limited 40,151.1 10.6
196 224 Reliance Capital Limited 39,880.0 21.5
197 198 IL&FS Transportation Networks Limited 38,818.2 5.7
198 202 Tube Investments of India Limited 38,649.1 8.2
199 208 Berger Paints India Limited 38,407.0 12.5
200 206 SRS Limited 38,379.7 11.3
201 214 Bayer CropScience Limited 38,112.0 14.2
202 191 Trident Limited 37,880.2 (2.5)
203 212 Usha Martin Limited* 37,847.3 12.5
204 209 Torrent Pharmaceuticals Limited 37,811.6 11.2
205 193 Deepak Fertilisers and Petrochemicals Corporation Limited 37,500.5 (2.7)
206 197 The Ramco Cements Limited 37,317.7 (1.0)
207 203 Alstom T&D India Limited 37,221.0 4.3
208 196 Oracle Financial Services Software Limited 37,170.0 (1.7)
209 187 Indraprastha Gas Limited 37,155.3 (5.6)
210 220 Cholamandalam Investment and Finance Company Limited 36,911.9 13.1
211 207 SRF Limited 36,613.5 6.4
212 222 Zee Entertainment Enterprises Limited 36,535.0 12.1
213 231 Mindtree Limited 36,305.0 17.8
214 228 Kansai Nerolac Paints Limited 35,708.5 12.5
215 225 Shriram City Union Finance Limited 35,316.3 9.0
216 246 J.K. Cement Limited 34,085.2 19.9
217 219 Castrol India Limited 34,083.9 6.0
218 221 Uflex Limited 33,884.6 3.9
219 217 BGR Energy Systems Limited 33,665.0 2.1
220 229 Birla Corporation Limited 33,658.3 7.1
221 236 IFCI Limited 33,479.9 13.4
222 242 Whirlpool of India Limited 33,317.8 16.4
223 237 Isgec Heavy Engineering Limited 33,197.3 126.8
224 - Jubilant Life Sciences Limited 32,827.2 (11.3)
225 303 SJVN Limited 32,611.0 55.2
226 350 Shirpur Gold Refinery Limited 32,222.1 84.7
227 210 Mphasis Limited 31,885.9 (3.4)
228 232 Future Lifestyle Fashions Limited 31,558.3 2.6
229 337 Eicher Motors Limited 31,475.2 76.6
230 261 Divi's Laboratories Limited 31,268.5 20.4
231 223 Ipca Laboratories Limited 31,209.1 (4.2)
232 243 KRBL Limited 31,163.9 9.2
233 244 City Union Bank Limited 31,138.5 10.2
Rank
2016 2015
234 249 Sterlite Technologies Limited* 30,988.8 10.6
235 247 Blue Star Limited 30,909.3 9.8
236 251 Shoppers Stop Limited 30,596.4 12.2
237 227 Jayaswal Neco Industries Limited* 30,416.4 (4.1)
238 241 Tata Global Beverages Limited 30,396.9 6.0
239 272 Sadbhav Engineering Limited 30,353.9 26.7
240 239 RSWM Limited 30,348.8 4.8
241 255 Balrampur Chini Mills Limited 30,060.6 11.7
242 265 Hatsun Agro Product Limited 29,391.0 17.5
243 259 Aarti Industries Limited 28,726.1 8.7
244 235 BEML Limited 28,686.9 (3.6)
245 233 Surya Roshni Limited 28,608.3 (5.7)
246 252 Balmer Lawrie & Co Limited 28,157.8 4.0
247 190 Dhunseri Petrochem Limited 28,127.6 (28.1)
248 248 GlaxoSmithKline Pharmaceuticals Limited# 27,889.9 1.5
249 315 Vakrangee Limited 27,849.3 41.0
250 285 Raymond Limited 27,716.0 21.7
251 240 Indo Rama Synthetics (India) Limited* 27,711.9 (3.5)
252 262 Shrenuj & Co. Limited 27,197.5 7.4
253 284 Piramal Enterprises Limited 27,000.0 18.4
254 245 Patel Engineering Limited 26,682.3 (6.4)
255 269 Sanwaria Agro Oils Limited 26,625.2 7.7
256 218 Supreme Petrochem Limited 26,557.3 (18.8)
257 264 Godfrey Phillips India Limited 26,192.1 4.5
258 238 India Glycols Limited* 26,155.1 (10.5)
259 268 Akzo Nobel India Limited 25,920.0 4.7
260 216 Mangalore Chemicals and Fertilizers Limited 25,902.5 (21.9)
261 297 Prestige Estates Projects Limited 25,730.3 19.5
262 311 Himachal Futuristic Communications Limited 25,711.3 26.5
263 271 Atul Limited 25,709.6 6.9
264 275 Kirloskar Oil Engines Limited 25,660.4 8.9
265 258 Jindal Poly Films Limited 25,435.1 (4.2)
266 230 Gujarat Ambuja Exports Limited 25,404.3 (18.1)
267 270 Finolex Cables Limited 25,075.6 4.2
268 290 The Lakshmi Vilas Bank Limited 24,985.6 14.2
269 267 Finolex Industries Limited 24,963.9 (0.0)
270 277 SKF India Limited 24,925.3 6.6
271 276 Lakshmi Machine Works Limited 24,911.5 5.7
272 281 Phillips Carbon Black Limited 24,846.1 8.1
273 254 The Bombay Dyeing and Manufacturing Company Limited 24,331.8 (9.7)
Rank
2016 2015
274 256 Diamond Power Infrastructure Limited@ 24,330.4 (9.2)
275 306 Force Motors Limited 24,295.0 16.7
276 369 Pratibha Industries Limited 24,260.7 54.6
277 257 JMC Projects (India) Limited 24,131.0 (9.4)
278 307 Sundram Fasteners Limited 24,091.3 16.3
279 298 Procter & Gamble Hygiene and Health Care Limited 24,084.3 13.0
280 299 Sobha Limited 24,016.5 12.8
281 286 Biocon Limited 23,907.0 5.6
282 287 GHCL Limited 23,857.4 7.0
283 279 Sundaram Finance Limited 23,690.7 2.4
284 300 Wockhardt Limited 23,516.6 10.7
285 323 Abbott India Limited 23,362.0 25.6
286 302 JK Lakshmi Cement Limited 23,352.6 11.2
287 291 Sun TV Network Limited 23,314.5 7.1
288 314 Blue Dart Express Limited 22,929.8 16.0
289 316 E.I.D.- Parry (India) Limited 22,650.4 16.4
290 253 ALSTOM India Limited 22,475.2 (16.6)
291 319 OCL India Limited 22,427.2 19.4
292 320 Kajaria Ceramics Limited 22,416.3 19.0
293 333 AIA Engineering Limited 22,313.5 22.9
294 310 Transport Corporation of India Limited 22,091.3 8.7
295 263 IRB Infrastructure Developers Limited 21,993.1 (12.3)
296 304 Bata India Limited# 21,897.9 4.4
297 289 Electrosteel Castings Limited* 21,845.9 (1.0)
298 295 McNally Bharat Engineering Company Limited* 21,820.0 1.2
299 347 JK Paper Limited 21,709.8 23.9
300 288 Nahar Spinning Mills Limited 21,592.8 (2.3)
301 280 Tamil Nadu Newsprint and Papers Limited 21,523.7 (6.5)
302 - Compuage Infocom Limited 21,388.7 (6.5)
303 313 The Indian Hotels Company Limited 21,342.2 6.3
304 342 Emami Limited 21,264.6 20.3
305 312 K. P. R. Mill Limited 21,023.7 5.7
306 351 Jubilant FoodWorks Limited 20,818.8 20.1
307 352 Heritage Foods Limited 20,800.0 20.4
308 - Asahi India Glass Limited 20,748.4 (1.7)
309 324 Magma Fincorp Limited 20,459.5 9.1
310 325 Sanofi India Limited 20,417.8 9.4
311 322 D. B. Corp Limited 20,346.8 8.2
312 359 KEI Industries Limited 20,333.3 25.5
313 308 APL Apollo Tubes Limited 20,289.4 1.0
Rank
2016 2015
314 363 Ashoka Buildcon Limited 20,251.2 26.3
315 328 Alembic Pharmaceuticals Limited 20,215.9 9.4
316 339 The Great Eastern Shipping Company Limited 20,126.9 13.1
317 317 Gujarat Alkalies and Chemicals Limited 19,970.8 3.7
318 294 Engineers India Limited 19,861.1 (3.4)
319 332 Wheels India Limited 19,827.1 8.6
320 361 PI Industries Limited 19,811.7 23.0
321 301 Manappuram Finance Limited 19,809.4 (6.2)
322 370 Godawari Power & Ispat Limited 19,515.4 24.7
323 345 MBL Infrastructures Limited 19,512.8 11.0
324 329 Tribhovandas Bhimji Zaveri Limited 19,487.1 6.8
325 353 Honeywell Automation India Limited# 19,408.9 12.5
326 431 Pfizer Limited 19,206.7 57.3
327 318 Sutlej Textiles and Industries Limited 19,178.9 (0.1)
328 341 BS Limited 19,105.0 7.5
329 338 Gillette India Limited 19,098.3 12.6
330 336 Srei Infrastructure Finance Limited 19,000.3 5.2
331 354 TVS Srichakra Limited 18,997.1 13.6
332 373 Rolta India Limited^ 18,889.2 23.3
333 348 HSIL Limited 18,606.4 6.3
334 305 Savita Oil Technologies Limited 18,576.8 (11.4)
335 334 LT Foods Limited 18,559.8 2.5
336 344 3M India Limited 18,547.8 5.2
337 382 Lloyd Electric & Engineering Limited 18,395.3 26.7
338 327 Nahar Industrial Enterprises Limited 18,086.1 (2.6)
339 330 Dhampur Sugar Mills Limited 17,950.5 (1.8)
340 355 Nilkamal Limited 17,929.1 8.5
341 365 Sunflag Iron and Steel Company Limited 17,871.6 12.3
342 453 Avanti Feeds Limited 17,852.8 57.3
343 343 Venky's (India) Limited 17,642.6 (0.1)
344 374 V-Guard Industries Limited 17,504.1 15.0
345 423 Kkalpana Industries (India) Limited 17,292.6 38.8
346 309 Polaris Consulting & Services Limited 17,158.9 (15.7)
347 349 Greaves Cotton Limited 17,130.3 (1.9)
348 428 Usher Agro Limited# 17,035.5 39.1
349 397 Ratnamani Metals & Tubes Limited 17,006.6 24.4
350 376 Mandhana Industries Limited 16,924.6 11.7
351 356 Jagran Prakashan Limited 16,917.2 2.5
352 360 Orient Paper & Industries Limited 16,890.0 4.5
353 386 Indo Count Industries Limited 16,799.4 16.6
Rank
2016 2015
354 381 FAG Bearings India Limited 16,731.0 15.5
355 385 Sunil Hitech Engineers Limited 16,652.5 15.5
356 357 Nectar Lifesciences Limited 16,636.4 0.8
357 - Mahindra CIE Automotive Limited 16,624.8 323.0
358 368 The West Coast Paper Mills Limited* 16,514.4 5.3
359 362 Munjal Showa Limited 16,511.1 2.9
360 434 HeidelbergCement India Limited# 16,465.0 35.4
361 346 Kirloskar Brothers Limited 16,369.8 (7.3)
362 364 Goodyear India Limited 16,109.9 0.8
363 417 DCB Bank Limited 15,881.4 25.4
364 406 Century Plyboards (India) Limited 15,829.0 22.4
365 - Filatex India Limited 15,824.6 (11.2)
366 460 Hitachi Home and Life Solutions (India) Limited 15,799.6 42.9
367 421 Steel Exchange India Limited 15,776.3 24.9
368 371 HT Media Limited 15,747.5 1.2
369 292 Greenply Industries Limited 15,652.9 (27.7)
370 388 Gujarat Mineral Development Corporation Limited 15,628.8 9.5
371 383 Orient Cement Limited 15,529.5 7.3
372 442 Page Industries Limited 15,516.3 29.9
373 422 Somany Ceramics Limited 15,488.8 22.7
374 326 Responsive Industries Limited 15,351.0 (17.3)
375 379 Radico Khaitan Limited 15,333.8 3.0
376 335 Graphite India Limited 15,279.6 (15.5)
377 293 Supreme Infrastructure India Limited*@ 15,275.4 (29.8)
378 402 Siyaram Silk Mills Limited 15,265.3 15.7
379 372 Rallis India Limited 15,201.9 (1.1)
380 387 Linde India Limited 15,021.6 4.5
381 377 Godrej Industries Limited 14,922.6 (0.1)
382 420 Cosmo Films Limited 14,824.5 17.3
383 435 Relaxo Footwears Limited 14,812.0 21.9
384 384 Sangam (India) Limited 14,796.8 2.3
385 407 Gabriel India Limited 14,484.1 12.1
386 416 SPML Infra Limited* 14,455.8 14.0
387 403 Jyothy Laboratories Limited 14,445.2 14.2
388 375 Mcleod Russel India Limited 14,422.7 (5.2)
389 415 Maharashtra Seamless Limited 14,379.7 13.3
390 401 Trent Limited 14,324.7 9.7
391 467 Capital First Limited 14,259.2 32.1
392 441 Thangamayil Jewellery Limited 14,228.3 19.0
393 389 Tara Jewels Limited 14,189.4 (0.2)
Rank
2016 2015
394 409 Sarda Energy & Minerals Limited 14,184.6 8.7
395 - Loyal Textile Mills Limited 14,130.6 (12.2)
396 - Shilpi Cable Technologies Limited 14,116.2 42.7
397 474 Man Industries (India) Limited* 14,015.3 35.3
398 427 Sundaram-Clayton Limited 14,011.1 13.7
399 412 Cyient Limited 13,969.4 9.4
400 405 TTK Prestige Limited 13,933.8 7.0
401 393 Himadri Chemicals & Industries Limited 13,924.6 1.1
402 455 Ajanta Pharma Limited 13,899.0 23.3
403 413 PVR Limited 13,892.1 8.8
404 458 Minda Industries Limited 13,890.5 23.9
405 439 Gujarat Fluorochemicals Limited 13,771.6 14.2
406 411 ITD Cementation India Limited* 13,767.2 7.6
407 394 The Dhanlaxmi Bank Limited* 13,685.4 0.2
408 392 NIIT Technologies Limited 13,685.1 (1.0)
409 452 WABCO India Limited 13,682.6 20.2
410 426 Kirloskar Ferrous Industries Limited 13,682.0 10.8
411 396 Indian Metals and Ferro Alloys Limited* 13,665.7 2.0
412 410 EIH Limited 13,663.1 6.8
413 440 J. Kumar Infraprojects Limited 13,562.3 13.2
414 408 HBL Power Systems Limited* 13,466.7 4.3
415 425 Time Technoplast Limited 13,443.3 8.3
416 430 Persistent Systems Limited 13,381.7 9.8
417 414 Deepak Nitrite Limited 13,292.1 4.5
418 446 Fedders Lloyd Corporation Limited 13,191.0 13.3
419 473 Skipper Limited 13,144.6 25.9
420 398 DCM Shriram Industries Limited 13,054.3 (1.8)
421 436 Jay Bharat Maruti Limited 13,015.3 7.2
422 447 Eveready Industries India Limited 12,828.2 10.4
423 476 IFB Industries Limited 12,765.8 24.1
424 - KPIT Technologies Limited 12,685.1 33.9
425 448 Federal-Mogul Goetze (India) Limited# 12,591.7 8.6
426 391 Gujarat Industries Power Company Limited 12,578.8 (10.6)
427 399 DCW Limited 12,563.2 (5.3)
428 465 Astral Poly Technik Limited 12,551.5 16.7
429 378 HEG Limited 12,520.7 (15.9)
430 433 Banswara Syntex Limited 12,430.5 2.2
431 445 VA Tech Wabag Limited 12,424.8 6.8
432 472 Everest Industries Limited 12,409.5 18.5
433 454 Kalyani Steels Limited 12,293.3 9.0
Rank
2016 2015
434 380 Century Enka Limited 12,255.5 (17.1)
435 495 Puravankara Projects Limited 12,184.1 26.1
436 483 Granules India Limited 12,162.7 21.0
437 469 Hexaware Technologies Limited 12,140.4 15.3
438 449 Nava Bharat Ventures Limited 12,039.5 4.3
439 444 Carborundum Universal Limited 11,996.5 2.7
440 443 Subros Limited 11,981.9 2.1
441 437 I G Petrochemicals Limited 11,959.5 (1.5)
442 478 Allcargo Logistics Limited 11,792.1 15.4
443 456 INEOS Styrolution India Limited# 11,743.8 4.4
444 463 Steel Strips Wheels Limited 11,734.2 8.3
445 438 Dalmia Bharat Sugar and Industries Limited 11,660.0 (3.7)
446 419 Kohinoor Foods Limited 11,611.3 (8.2)
447 457 Lumax Industries Limited 11,481.2 2.2
448 481 Huhtamaki PPL Limited 11,444.4 13.2
449 400 MOIL Limited 11,398.6 (13.9)
450 480 Kaveri Seed Company Limited 11,311.7 11.8
451 499 Grindwell Norton Limited 11,304.1 18.2
452 - HIL Limited 11,254.1 28.3
453 459 Gujarat State Petronet Limited 11,166.1 1.0
454 - Gokaldas Exports Limited 11,163.0 (1.0)
455 - SML Isuzu Limited 11,143.4 25.8
456 475 Sudarshan Chemical Industries Limited 11,113.2 7.8
457 461 Unichem Laboratories Limited 11,109.6 2.2
458 497 Zensar Technologies Limited 11,007.2 14.4
459 450 Tata Metaliks Limited 10,999.9 (5.4)
460 - Nandan Denim Limited 10,995.8 22.5
461 - Hinduja Global Solutions Limited 10,982.3 17.8
462 - Shasun Pharmaceuticals Limited 10,923.2 15.3
463 485 Srikalahasthi Pipes Limited 10,922.1 9.6
464 - Eros International Media Limited 10,920.8 26.3
465 - Good Luck Steel Tubes Limited 10,882.5 8.6
466 494 Aarti Drugs Limited 10,878.7 11.9
467 471 Sona Koyo Steering Systems Limited 10,828.2 (0.0)
468 366 Hindustan Copper Limited 10,824.3 (31.7)
469 195 Ruchi Infrastructure Limited 10,806.5 (59.3)
470 - Renaissance Jewellery Limited 10,769.7 9.6
471 489 J.B.Chemicals & Pharmaceuticals Limited 10,718.3 7.8
472 492 Ahluwalia Contracts (India) Limited 10,716.1 9.9
473 451 Polyplex Corporation Limited 10,695.0 (6.3)
Rank
2016 2015
474 - GRUH Finance Limited 10,603.2 25.3
475 418 Clariant Chemicals (India) Limited 10,596.5 (16.3)
476 490 Flexituff International Limited 10,571.6 8.4
477 487 L.G. Balakrishnan & Bros Limited 10,511.1 5.9
478 491 VIP Industries Limited 10,502.9 7.7
479 - Bodal Chemicals Limited 10,500.3 9.0
480 - Mafatlal Industries Limited* 10,446.9 11.7
481 - Solar Industries India Limited 10,345.9 12.3
482 - Strides Shasun Limited 10,295.8 (13.1)
483 - Visaka Industries Limited 10,235.5 14.0
484 479 Seshasayee Paper and Boards Limited 10,199.7 0.4
485 - The Indian Hume Pipe Company Limited 10,194.2 23.2
486 493 Excel Crop Care Limited 10,143.3 4.3
487 - Omax Autos Limited 10,107.3 2.6
488 - Brigade Enterprises Limited 10,080.1 10.1
489 - Bajaj Holdings & Investment Limited 10,064.6 19.9
490 - Jamna Auto Industries Limited 10,036.0 37.8
491 486 Himatsingka Seide Limited 9,856.9 (1.1)
492 498 Novartis India Limited 9,810.2 2.5
493 429 Omaxe Limited 9,809.8 (19.7)
494 - Gulf Oil Lubricants India Limited 9,767.1 NA
495 - Rupa & Company Limited 9,740.2 8.1
496 - Tide Water Oil Co. (India) Limited* 9,688.7 4.0
497 - Meghmani Organics Limited 9,667.9 7.7
498 - Inox Leisure Limited 9,647.4 9.9
499 - Insecticides (India) Limited 9,646.3 11.6
500 - Navneet Education Limited 9,619.4 11.2
Symbols used
^^ Annual unaudited financials for the period ending 30 Sep 2015 are considered for the purpose of the publication.
The company has changed its year ending from 30th Sep 2014 to 31st Mar 2016.
PL Profit to Loss
LP Loss to Profit
INDIAS TOP 500 COMPANIES Ranking By Net Profit L29
Rank
Company Name Net Profit (` Mn) (%) Change
2016 2015
1 2 Reliance Industries Limited 227,190.0 3.3
2 3 Tata Consultancy Services Limited 187,285.8 1.4
3 1 Oil and Natural Gas Corporation Limited 177,323.0 (19.7)
4 4 Coal india Limited 133,833.9 (10.8)
5 15 Bharti Airtel Limited 132,005.0 93.9
6 6 State Bank of India 131,015.7 20.3
7 7 Infosys Limited 117,520.0 15.3
8 8 ICICI Bank Limited 111,753.5 13.9
9 10 HDFC Bank Limited 102,159.2 20.5
10 5 NTPC Limited 100,807.3 (8.1)
11 9 ITC Limited 96,077.3 9.4
12 12 Wipro Limited 81,931.0 10.9
13 14 Hindustan Zinc Limited 81,808.1 18.5
14 18 Axis Bank Limited 73,578.2 18.3
15 17 NMDC Limited 65,328.3 2.6
16 19 HCL Technologies Limited 63,459.5 6.0
17 20 Housing Development Finance Corporation Limited 59,901.4 10.1
18 21 Power Finance Corporation Limited 59,593.3 10.0
19 23 Rural Electrification Corporation Limited 52,598.7 12.3
20 27 Bharat Petroleum Corporation Limited 50,408.0 25.6
21 25 Power Grid Corporation of India Limited* 49,780.9 10.7
22 22 Larsen & Toubro Limited 46,990.2 (4.2)
23 16 Tata Steel Limited 45,482.7 (30.6)
24 35 Maruti Suzuki India Limited 37,112.0 33.4
25 29 Hindustan Unilever Limited 36,509.6 0.3
26 13 Indian Oil Corporation Limited 36,033.2 (31.6)
27 11 Cairn India Limited 35,761.0 (52.0)
28 24 Bank of Baroda 33,984.4 (25.2)
29 32 Bajaj Auto Limited 31,540.3 (2.8)
30 31 Punjab National Bank 30,615.8 (8.4)
31 28 Mahindra & Mahindra Limited 29,853.9 (19.4)
32 26 GAIL (India) Limited 29,596.0 (26.5)
33 49 Idea Cellular Limited 28,098.4 66.3
34 45 Hindustan Petroleum Corporation Limited 27,256.5 59.0
L30 Ranking By Net Profit INDIAS TOP 500 COMPANIES
Rank
2016 2015
35 76 Bharti Infratel Limited 27,252.0 150.0
36 38 Canara Bank 27,026.2 10.8
37 41 Hero MotoCorp Limited 25,406.8 20.5
38 34 Oil India Limited 25,102.0 (15.8)
39 39 Lupin Limited 23,973.5 3.1
40 37 Tech Mahindra Limited* 21,949.0 (14.4)
41 42 Adani Ports and Special Economic Zone Limited 21,831.4 8.3
42 33 JSW Steel Limited 21,664.8 62.3
43 55 Steel Authority of India Limited* 20,697.5 47.0
44 57 NHPC Limited 20,533.0 109.8
45 40 UltraTech Cement Limited 20,147.3 (6.0)
46 50 Yes Bank Limited 20,053.6 24.0
47 54 Indiabulls Housing Finance Limited 19,782.3 31.0
48 64 Vedanta Limited 19,296.3 59.9
49 56 Kotak Mahindra Bank Limited 18,659.8 24.2
50 73 SJVN Limited 18,090.3 63.8
51 58 IndusInd Bank Limited 17,937.2 27.4
52 48 Union Bank of India 17,816.4 5.0
53 36 Bank of India 17,089.2 (37.4)
54 47 IDFC Limited 16,854.9 (0.9)
55 43 Dr. Reddys Laboratories Limited 16,794.0 (13.1)
56 83 MRF Limited^^ 15,636.7 74.1
57 51 Reliance Infrastructure Limited 15,333.9 (3.4)
58 46 Syndicate Bank 15,229.3 (11.0)
59 67 Aurobindo Pharma Limited 15,163.5 29.4
60 44 Hindalco Industries Limited@ 15,022.4 (17.0)
61 61 Ambuja Cements Limited 14,963.3 17.8
62 30 Bharat Heavy Electricals Limited 14,095.9 (59.3)
63 60 LIC Housing Finance Limited 13,861.9 5.2
64 66 Asian Paints Limited 13,409.3 13.7
65 75 ACC Limited 13,214.6 20.6
66 82 Cadila Healthcare Limited 12,711.0 40.7
67 63 Shriram Transport Finance Company Limited 12,378.1 (2.1)
68 52 Neyveli Lignite Corporation Limited 12,122.3 (21.2)
69 59 Cipla Limited 11,810.9 (14.9)
70 74 Nestl India Limited 11,776.9 6.7
71 141 Glenmark Pharmaceuticals Limited 11,762.7 171.1
72 100 National Aluminium Company Limited 11,734.3 69.6
73 80 Bharat Electronics Limited 11,666.7 25.3
74 53 UCO Bank 11,378.0 (24.7)
Rank
2016 2015
75 86 Bosch Limited# 10,925.6 23.5
76 70 Oracle Financial Services Software Limited 10,580.2 (7.9)
77 77 Container Corporation of India Limited 10,475.5 6.4
78 78 JSW Energy Limited 10,287.8 5.8
79 79 The Tata Power Company Limited 10,102.9 5.9
80 89 The Federal Bank Limited 10,057.5 19.9
81 69 Indian Bank 10,051.7 (13.3)
82 81 DLF Limited 9,695.7 71.3
83 97 Bajaj Finance Limited 8,978.7 24.9
84 99 Petronet LNG Limited 8,825.2 24.0
85 72 IDBI Bank Limited 8,733.9 (22.1)
86 - Bajaj Holdings & Investment Limited 8,677.3 18.3
87 138 Tata Chemicals Limited 8,557.4 96.2
88 90 Divi's Laboratories Limited 8,470.6 7.0
89 92 Zee Entertainment Enterprises Limited 8,318.0 7.7
90 85 Mahindra & Mahindra Financial Services Limited 8,317.8 (6.2)
91 94 Titan Company Limited 8,230.7 11.1
92 102 Dabur India Limited 7,865.4 16.9
93 109 Cummins India Limited 7,858.5 31.0
94 95 State Bank of Bikaner & Jaipur 7,768.7 6.2
95 299 Torrent Power Limited 7,650.5 706.7
96 145 Reliance Capital Limited 7,570.0 85.1
97 98 Sun TV Network Limited 7,372.3 2.8
98 148 Bharat Forge Limited 7,226.1 86.4
99 105 CESC Limited 6,977.2 7.0
100 91 Muthoot Finance Limited 6,705.2 (14.0)
101 112 Godrej Consumer Products Limited 6,458.5 14.3
102 121 Apollo Tyres Limited 6,450.8 25.6
103 140 Andhra Bank 6,384.4 46.6
104 134 Tata Communications Limited 6,256.6 35.7
105 93 Torrent Pharmaceuticals Limited 6,231.8 (18.3)
106 118 Dewan Housing Finance Corporation Limited 6,212.9 17.4
107 68 Allahabad Bank 6,209.0 (47.0)
108 500 Central Bank of India 6,064.5 LP
109 113 Corporation Bank 5,842.6 4.0
110 116 GlaxoSmithKline Consumer Healthcare Limited 5,836.0 (13.5)
111 106 Rolta India Limited^ 5,824.2 7.3
112 132 Colgate-Palmolive (India) Limited 5,589.8 17.6
113 178 Eicher Motors Limited 5,589.2 100.6
114 119 Shriram City Union Finance Limited 5,580.6 7.1
Rank
2016 2015
115 84 Grasim Industries Limited 5,561.4 (37.9)
116 115 Mphasis Limited 5,530.3 0.4
117 126 Exide Industries Limited 5,458.7 12.1
118 111 Marico Limited 5,451.7 (5.6)
119 135 Mindtree Limited 5,343.0 18.4
120 101 Aditya Birla Nuvo Limited 5,276.9 (18.8)
121 123 IFCI Limited 5,216.0 2.7
122 133 Pidilite Industries Limited 5,194.7 9.3
123 117 Motherson Sumi Systems Limited 5,149.0 (3.8)
124 409 Welspun India Limited 5,101.4 1,609.6
125 65 The Jammu and Kashmir Bank Limited 5,086.0 (57.0)
126 71 Oriental Bank of Commerce 4,970.8 (56.4)
127 125 Balkrishna Industries Limited 4,888.1 0.1
128 147 Britannia Industries Limited 4,803.5 23.2
129 156 Sintex Industries Limited 4,793.1 36.5
130 490 Adani Enterprises Limited 4,778.4 LP
131 127 Castrol India Limited 4,745.6 (2.3)
132 146 Emami Limited 4,716.3 17.2
133 120 Crompton Greaves Limited 4,710.9 (9.6)
134 129 Havells India Limited 4,649.4 (2.9)
135 142 The Karur Vysya Bank Limited 4,642.8 8.1
136 139 UPL Limited 4,633.3 6.4
137 88 Shree Cement Limited 4,617.9 (46.8)
138 136 Sundaram Finance Limited 4,541.4 2.6
139 166 The Karnataka Bank Limited 4,514.5 45.1
140 149 Bank of Maharashtra 4,506.9 16.8
141 - Gujarat Gas Limited 4,435.8 1,460.3
142 144 Vijaya Bank 4,394.1 5.7
143 154 Indraprastha Gas Limited 4,377.3 21.5
144 153 Cholamandalam Investment and Finance Company Limited 4,351.6 19.5
145 122 MOIL Limited 4,280.1 (16.0)
146 131 GlaxoSmithKline Pharmaceuticals Limited# 4,188.2 (12.0)
147 152 Amara Raja Batteries Limited 4,181.4 12.6
148 165 AIA Engineering Limited 4,145.7 31.1
149 159 Prestige Estates Projects Limited 4,142.3 21.8
150 143 Gujarat State Petronet Limited 4,103.6 (2.1)
151 150 Arvind Limited 4,093.6 8.6
152 181 State Bank of Mysore 4,088.0 49.1
153 155 Coromandel International Limited 4,070.8 13.9
154 158 Gujarat State Fertilizers & Chemicals Limited 4,005.1 17.1
Rank
2016 2015
155 204 Siemens Limited 4,005.0 81.6
156 157 City Union Bank Limited 3,950.2 10.7
157 137 Gujarat Mineral Development Corporation Limited 3,911.7 (10.9)
158 174 Bayer CropScience Limited 3,830.0 32.3
158 163 Biocon Limited 3,830.0 18.1
160 151 PC Jeweller Limited 3,782.3 6.2
161 162 Apollo Hospitals Enterprise Limited 3,612.9 9.2
162 104 Vardhman Textiles Limited 3,580.6 (45.1)
163 179 Tata Global Beverages Limited 3,579.1 30.3
164 185 TVS Motor Company Limited 3,478.3 31.5
165 170 Procter & Gamble Hygiene and Health Care Limited 3,461.4 14.6
166 169 Chambal Fertilisers and Chemicals Limited 3,438.0 13.4
167 190 Thermax Limited 3,359.4 32.8
168 168 State Bank of Travancore 3,355.3 10.2
169 217 Wockhardt Limited 3,318.2 67.1
170 191 Rashtriya Chemicals and Fertilizers Limited 3,216.9 29.3
171 216 Vakrangee Limited 3,205.7 61.5
172 183 IL&FS Transportation Networks Limited 3,186.6 19.8
173 161 Hexaware Technologies Limited 3,184.0 (4.7)
174 214 The Great Eastern Shipping Company Limited 3,173.0 55.0
175 167 D. B. Corp Limited 3,169.8 3.5
176 176 The Supreme Industries Limited 3,157.1 12.2
177 205 Jindal Saw Limited 3,156.1 44.7
178 202 Ajanta Pharma Limited 3,133.2 41.9
179 227 Voltas Limited 3,110.5 68.2
180 128 Engineers India Limited 3,079.8 (35.8)
181 206 SRF Limited 3,077.3 42.1
182 124 The South Indian Bank Limited 3,072.0 (39.5)
183 184 CEAT Limited 3,051.0 15.6
184 207 Kaveri Seed Company Limited 3,021.7 43.5
185 198 Alembic Pharmaceuticals Limited 2,866.1 20.3
186 186 KRBL Limited 2,850.5 9.5
187 182 National Buildings Construction Corporation Limited 2,773.0 12.2
188 212 Kansai Nerolac Paints Limited 2,716.7 31.5
189 188 Cyient Limited 2,711.6 6.4
190 273 Manappuram Finance Limited 2,707.3 19.8
191 199 Berger Paints India Limited 2,660.3 13.6
192 114 Dena Bank 2,654.8 (51.9)
193 200 Rajesh Exports Limited 2,639.4 16.3
194 201 United Breweries Limited 2,595.3 15.0
Rank
2016 2015
195 192 Persistent Systems Limited 2,593.0 4.3
196 130 Ipca Laboratories Limited 2,561.1 (46.3)
197 499 United Bank of India 2,559.9 LP
198 259 JK Tyre & Industries Limited 2,542.4 78.7
199 228 PI Industries Limited 2,432.5 32.4
200 256 The Ramco Cements Limited 2,423.5 76.0
201 180 DCM Shriram Limited 2,419.3 (11.9)
202 193 PTC India Limited 2,351.8 (4.6)
203 498 Ashok Leyland Limited 2,338.8 LP
204 238 Abbott India Limited 2,289.6 44.2
205 230 ABB India Limited 2,285.1 27.4
206 225 Gujarat Alkalies and Chemicals Limited 2,278.6 23.0
207 194 Jagran Prakashan Limited 2,235.5 (8.0)
208 208 Atul Limited 2,174.2 2.2
209 221 Lakshmi Machine Works Limited 2,169.4 13.1
210 268 Whirlpool of India Limited 2,105.1 71.3
211 246 GHCL Limited 2,104.2 42.9
212 - GRUH Finance Limited 2,038.0 15.2
213 289 Ushdev International Limited 2,034.9 96.0
214 236 SKF India Limited 2,027.7 7.4
215 - KPIT Technologies Limited 2,014.1 28.0
216 - The Shipping Corporation of India Limited 2,009.3 LP
217 213 Sobha Limited 1,990.9 (3.6)
218 197 Sanofi India Limited 1,970.5 (17.8)
219 241 Page Industries Limited 1,960.2 27.5
220 291 Orient Cement Limited 1,947.8 92.8
221 242 DCB Bank Limited 1,911.8 26.3
222 245 Himachal Futuristic Communications Limited 1,899.1 28.8
223 253 Birla Corporation Limited 1,882.9 33.8
224 244 Aarti Industries Limited 1,843.2 24.0
225 243 Akzo Nobel India Limited 1,836.0 22.2
226 223 Zensar Technologies Limited 1,831.1 (2.2)
227 229 Godfrey Phillips India Limited 1,830.8 (11.1)
228 318 Sarda Energy & Minerals Limited 1,821.7 134.0
229 232 Redington (India) Limited 1,819.6 (24.1)
230 219 Finolex Cables Limited 1,761.4 (10.7)
231 252 Ratnamani Metals & Tubes Limited 1,725.1 20.8
232 275 Kajaria Ceramics Limited 1,683.6 44.2
233 237 Tamil Nadu Newsprint and Papers Limited 1,667.3 3.4
234 248 Kalpataru Power Transmission Limited 1,656.1 13.1
Rank
2016 2015
235 286 Indo Count Industries Limited 1,647.8 57.0
236 210 NIIT Technologies Limited 1,610.7 (22.7)
237 215 Bata India Limited# 1,597.2 (20.5)
238 280 JK Lakshmi Cement Limited 1,588.5 42.5
239 367 Gillette India Limited 1,581.3 207.5
240 297 J.K. Cement Limited 1,569.2 61.7
241 285 Jindal Poly Films Limited 1,562.4 48.6
242 269 FAG Bearings India Limited 1,528.8 25.5
243 337 Century Plyboards (India) Limited 1,508.2 125.3
244 203 Pfizer Limited 1,502.7 (32.0)
245 258 Magma Fincorp Limited 1,490.7 10.0
246 420 E.I.D.- Parry (India) Limited 1,482.5 458.8
247 270 Greaves Cotton Limited 1,474.5 21.8
248 240 Balmer Lawrie & Co Limited 1,474.4 (5.2)
249 247 The Indian Hotels Company Limited 1,466.8 0.0
250 262 K. P. R. Mill Limited 1,459.8 11.8
251 249 Rallis India Limited 1,454.2 (0.6)
252 261 Sundram Fasteners Limited 1,453.2 11.0
253 282 Jyothy Laboratories Limited 1,448.8 33.6
254 224 Gujarat Industries Power Company Limited 1,448.2 (22.1)
255 302 Isgec Heavy Engineering Limited 1,431.9 209.6
256 231 Kirloskar Oil Engines Limited 1,431.4 (19.8)
257 218 Nava Bharat Ventures Limited 1,428.9 (27.6)
258 271 Ashoka Buildcon Limited 1,421.8 19.4
259 263 Uflex Limited 1,419.8 9.8
260 264 Kwality Limited 1,409.3 11.5
261 366 JBF Industries Limited 1,394.4 169.7
262 175 IRB Infrastructure Developers Limited 1,383.3 (52.0)
263 283 Polaris Consulting & Services Limited 1,376.1 28.3
264 352 The Lakshmi Vilas Bank Limited 1,322.9 121.7
265 432 Jaiprakash Power Ventures Limited 1,322.1 570.1
266 239 HT Media Limited 1,303.5 (16.2)
267 - Navneet Education Limited 1,293.0 14.2
268 277 ALSTOM India Limited 1,284.8 12.9
269 267 Blue Dart Express Limited 1,268.4 2.0
270 306 Honeywell Automation India Limited# 1,265.8 46.9
271 - Eros International Media Limited 1,241.9 9.3
272 266 Jubilant FoodWorks Limited 1,232.8 (2.0)
273 296 Maharashtra Seamless Limited 1,225.6 26.2
274 171 Punjab & Sind Bank 1,213.5 (59.6)
Rank
2016 2015
275 272 WABCO India Limited 1,206.6 2.7
276 274 Alstom T&D India Limited 1,205.7 3.0
277 - Solar Industries India Limited 1,179.2 25.7
278 220 Trident Limited 1,178.2 (40.2)
279 329 Avanti Feeds Limited 1,165.8 67.1
280 260 Sutlej Textiles and Industries Limited 1,161.4 (12.0)
281 251 Sadbhav Engineering Limited 1,137.3 (21.0)
282 295 OCL India Limited 1,136.9 16.2
283 334 J.B.Chemicals & Pharmaceuticals Limited 1,135.8 2,793.5
284 - Hinduja Global Solutions Limited 1,125.8 (16.3)
285 437 Capital First Limited 1,120.2 56.8
286 387 NCC Limited 1,117.9 175.9
287 290 KEC International Limited 1,107.4 6.7
288 317 Blue Star Limited 1,106.3 19.3
289 354 Himatsingka Seide Limited 1,093.4 135.2
290 380 3M India Limited 1,083.4 152.0
291 222 Jain Irrigation Systems Limited 1,060.6 (44.3)
292 276 Greenply Industries Limited 1,060.0 (7.4)
293 195 Escorts Limited 1,053.4 (56.3)
294 358 HSIL Limited 1,041.5 85.3
295 375 TVS Srichakra Limited 1,037.9 118.7
296 339 Relaxo Footwears Limited 1,030.5 57.0
297 321 Gujarat Fluorochemicals Limited 1,030.0 38.4
298 341 Raymond Limited 1,019.4 57.9
299 314 Force Motors Limited 1,013.6 30.5
300 300 Goodyear India Limited 1,012.4 7.6
301 308 Grindwell Norton Limited 1,010.2 22.7
302 359 Allcargo Logistics Limited 974.9 73.7
303 298 EIH Limited 966.3 7.7
304 310 Granules India Limited 952.3 17.6
305 307 J. Kumar Infraprojects Limited 943.9 12.3
306 343 Jayaswal Neco Industries Limited* 935.8 47.8
307 - Bodal Chemicals Limited 920.2 (11.7)
308 353 Srei Infrastructure Finance Limited 909.3 53.3
309 305 VA Tech Wabag Limited 904.1 2.1
310 287 TTK Prestige Limited 898.8 (14.3)
311 417 Skipper Limited 891.7 231.4
312 234 Graphite India Limited 877.9 (48.6)
313 301 Tube Investments of India Limited 868.6 (7.6)
314 294 Novartis India Limited 854.4 (13.3)
Rank
2016 2015
315 393 Tata Metaliks Limited 854.3 43.8
316 293 RSWM Limited 848.6 (14.0)
317 370 Sterlite Technologies Limited* 842.4 67.8
318 279 Gujarat Ambuja Exports Limited 841.7 (24.6)
319 355 Kalyani Steels Limited 833.1 42.2
320 327 Mandhana Industries Limited 830.9 40.3
321 392 Srikalahasthi Pipes Limited 829.8 114.4
322 196 Finolex Industries Limited 821.6 (65.8)
323 311 Hindustan Construction Company Limited@ 816.5 1.3
324 316 Lloyd Electric & Engineering Limited 816.4 7.3
325 319 MBL Infrastructures Limited 801.6 6.7
326 342 Siyaram Silk Mills Limited 787.9 23.9
327 187 Deepak Fertilisers and Petrochemicals Corporation Limited 787.0 (69.2)
328 399 Pratibha Industries Limited 782.7 114.3
329 450 Hitachi Home and Life Solutions (India) Limited 777.6 866.0
330 - Mahindra CIE Automotive Limited 776.7 332.2
331 348 Aarti Drugs Limited 776.0 27.6
332 - Gulf Oil Lubricants India Limited 774.1 NA
333 347 Transport Corporation of India Limited 761.1 22.7
334 284 Puravankara Projects Limited 755.3 (28.8)
335 330 Munjal Showa Limited 749.6 7.5
336 496 Piramal Enterprises Limited 738.6 LP
337 292 Electrosteel Castings Limited* 726.7 (27.7)
338 328 V-Guard Industries Limited 707.2 0.8
339 - HIL Limited 701.9 557.0
340 312 Time Technoplast Limited 700.7 (12.8)
341 - Brigade Enterprises Limited 700.0 (22.0)
342 315 Astral Poly Technik Limited 688.4 (10.8)
343 345 BS Limited 685.8 9.4
344 373 Sundaram-Clayton Limited 681.0 42.4
345 325 Radico Khaitan Limited 676.4 (5.1)
346 177 Hindustan Copper Limited 675.8 (75.7)
347 346 Nectar Lifesciences Limited 662.6 6.7
348 - Rupa & Company Limited 657.1 5.9
349 374 Huhtamaki PPL Limited 646.2 36.1
350 257 Unichem Laboratories Limited 644.0 (52.6)
351 453 Ahluwalia Contracts (India) Limited 641.4 739.5
352 211 Mcleod Russel India Limited 625.7 (70.4)
353 349 Simplex Infrastructures Limited* 624.3 3.1
354 360 Godawari Power & Ispat Limited 621.1 11.0
Rank
2016 2015
355 323 Carborundum Universal Limited 614.3 (15.6)
356 278 HEG Limited 611.8 (45.4)
357 377 Gabriel India Limited 606.2 29.5
358 363 L.G. Balakrishnan & Bros Limited 577.9 6.3
359 335 Excel Crop Care Limited 568.3 (6.5)
360 336 Usher Agro Limited# 558.0 (10.7)
361 - Insecticides (India) Limited 548.4 37.3
362 - Asahi India Glass Limited 545.0 LP
363 365 Surya Roshni Limited 540.9 1.4
364 446 Man Industries (India) Limited* 535.6 501.8
365 395 Deepak Nitrite Limited 534.4 39.4
366 454 The West Coast Paper Mills Limited* 527.2 695.1
367 386 Sangam (India) Limited 515.7 27.3
368 - Nandan Denim Limited 514.3 30.8
369 429 IFB Industries Limited 497.3 130.2
370 449 Cosmo Films Limited 496.1 73.6
371 415 Minda Industries Limited 493.3 92.5
372 383 Kothari Products Limited 493.1 16.6
373 389 Kirloskar Ferrous Industries Limited 492.8 23.7
374 441 Eveready Industries India Limited 490.3 260.5
375 331 Apar Industries Limited 481.1 (30.9)
376 414 Somany Ceramics Limited 443.8 58.3
377 364 Trent Limited 436.3 (2.9)
378 382 VIP Industries Limited 435.4 2.1
379 388 Nilkamal Limited 424.6 6.1
380 403 Sudarshan Chemical Industries Limited 424.1 23.2
381 281 BGR Energy Systems Limited 421.5 (61.7)
382 436 Jay Bharat Maruti Limited 412.6 33.4
383 397 Shoppers Stop Limited 407.4 8.1
384 379 Fedders Lloyd Corporation Limited 401.8 (10.3)
385 350 Omaxe Limited 401.3 (33.4)
386 - Shasun Pharmaceuticals Limited 398.9 13.2
387 424 Steel Strips Wheels Limited 394.0 61.9
388 309 Hatsun Agro Product Limited 391.6 (52.1)
389 381 SRS Limited 388.1 (9.2)
390 340 Century Enka Limited 387.7 (38.4)
391 - The Indian Hume Pipe Company Limited 384.5 59.8
392 320 Dhunseri Petrochem Limited 377.2 (49.5)
393 326 Mangalore Chemicals and Fertilizers Limited 375.4 (47.1)
394 - SML Isuzu Limited 369.4 112.3
Rank
2016 2015
395 422 Sunil Hitech Engineers Limited 369.0 47.7
396 408 Supreme Petrochem Limited 356.2 21.7
397 - Shilpi Cable Technologies Limited 349.8 24.8
398 - Renaissance Jewellery Limited 344.5 27.1
399 445 Everest Industries Limited 342.1 273.9
400 368 Responsive Industries Limited 331.9 (34.7)
401 442 KEI Industries Limited 316.4 172.8
402 421 APL Apollo Tubes Limited 313.6 19.1
403 405 Uttam Galva Steels Limited@ 307.4 LP
404 394 LT Foods Limited 306.6 (20.2)
405 461 I G Petrochemicals Limited 300.1 43.0
406 426 JMC Projects (India) Limited 298.6 30.0
407 412 Wheels India Limited 297.4 4.7
408 - Meghmani Organics Limited 297.3 146.3
409 470 HBL Power Systems Limited* 296.6 LP
410 475 The India Cements Limited 294.5 LP
411 - Jamna Auto Industries Limited 294.4 LP
412 390 Tara Jewels Limited 292.0 (26.0)
413 433 Kkalpana Industries (India) Limited 291.2 49.5
414 400 Steel Exchange India Limited 284.6 (20.6)
415 378 Heritage Foods Limited 282.1 (37.7)
416 369 INEOS Styrolution India Limited# 280.2 (44.5)
417 - Good Luck Steel Tubes Limited 275.7 55.7
418 484 National Fertilizers Limited 262.4 LP
419 322 The State Trading Corporation of India Limited 261.9 LP
420 - Inox Leisure Limited 252.7 (32.3)
421 430 Federal-Mogul Goetze (India) Limited# 250.9 21.9
422 413 Sanwaria Agro Oils Limited 250.4 4.0
423 189 MMTC Limited 248.6 (90.1)
424 423 The Bombay Dyeing and Manufacturing Company Limited 245.6 0.9
425 456 JVL Agro Industries Limited 216.2 236.8
426 - Visaka Industries Limited 212.4 77.4
427 - Tide Water Oil Co. (India) Limited* 208.2 (71.0)
428 418 Seshasayee Paper and Boards Limited 205.6 (23.3)
429 402 Shrenuj & Co. Limited 205.5 (41.5)
430 431 Subros Limited 203.2 0.3
431 404 Polyplex Corporation Limited 199.4 (38.9)
432 427 Flexituff International Limited 197.6 54.7
433 411 Future Lifestyle Fashions Limited 185.5 (35.9)
434 250 Nahar Spinning Mills Limited 184.1 (87.2)
Rank
2016 2015
435 438 Sona Koyo Steering Systems Limited 179.8 (65.2)
436 361 Tribhovandas Bhimji Zaveri Limited 173.0 (68.6)
437 304 Supreme Infrastructure India Limited*@ 172.5 (80.8)
438 425 Venky's (India) Limited 171.5 (27.1)
439 452 Lumax Industries Limited 165.7 115.2
440 357 PVR Limited 157.9 (68.3)
441 464 Century Textiles and Industries Limited 154.9 469.5
442 457 Shirpur Gold Refinery Limited 154.4 166.2
443 - Mafatlal Industries Limited* 153.8 (7.1)
444 - Loyal Textile Mills Limited 149.9 (23.9)
445 458 SPML Infra Limited* 137.8 185.9
446 - Strides Shasun Limited 137.1 LP
447 483 Phillips Carbon Black Limited 126.4 LP
448 463 Gokul Refoils and Solvent Limited 125.4 333.3
449 479 Zuari Agro Chemicals Limited 123.7 LP
450 384 Patel Engineering Limited 118.9 (52.4)
451 - Compuage Infocom Limited 116.9 0.7
452 391 Indian Metals and Ferro Alloys Limited* 109.8 (71.9)
453 - Filatex India Limited 96.0 LP
454 351 Kirloskar Brothers Limited 84.9 (82.2)
455 419 Banswara Syntex Limited 80.3 (69.8)
456 - Jubilant Life Sciences Limited 68.9 (97.0)
457 448 BEML Limited 65.7 LP
458 416 Linde India Limited 54.0 (80.0)
459 410 DCM Shriram Industries Limited 43.8 (84.9)
460 467 Videocon Industries Limited*# 20.3 LP
461 462 Dalmia Bharat Sugar and Industries Limited 14.8 (51.2)
462 428 Sunflag Iron and Steel Company Limited (1.6) PL
463 - Omax Autos Limited (2.3) LL
464 477 HeidelbergCement India Limited# (5.9) LL
465 407 Savita Oil Technologies Limited (12.7) PL
466 324 India Glycols Limited* (33.9) PL
467 466 Ruchi Soya Industries Limited* (39.9) PL
468 396 DCW Limited (53.2) PL
469 - Gokaldas Exports Limited (91.9) LL
470 482 Dhampur Sugar Mills Limited (103.6) LL
471 480 JK Paper Limited (127.4) LL
472 478 Himadri Chemicals & Industries Limited (144.0) LL
473 469 Bajaj Electricals Limited (147.9) LL
474 472 Welspun Corp Limited (157.1) LL
Rank
2016 2015
475 303 Indo Rama Synthetics (India) Limited* (158.0) PL
476 471 Thangamayil Jewellery Limited (222.8) LL
477 473 Future Enterprises Limited (264.5) LL
478 333 Nahar Industrial Enterprises Limited (280.1) PL
479 459 Orient Paper & Industries Limited (286.5) PL
480 468 Ruchi Infrastructure Limited (376.0) PL
481 439 Godrej Industries Limited (508.0) PL
482 460 Balrampur Chini Mills Limited (577.3) PL
483 455 Kohinoor Foods Limited (725.5) PL
484 444 ITD Cementation India Limited* (761.2) PL
485 486 United Spirits Limited* (848.0) LL
486 288 Diamond Power Infrastructure Limited@ (857.3) PL
487 255 BASF India Limited (960.9) PL
488 481 McNally Bharat Engineering Company Limited* (1,142.2) LL
489 173 Gujarat Narmada Valley Fertilizers & Chemicals Limited (1,220.7) PL
490 487 Shree Renuka Sugars Limited (1,608.9) LL
491 474 Usha Martin Limited* (1,922.5) LL
492 362 Clariant Chemicals (India) Limited (2,402.7) PL
493 493 The Dhanlaxmi Bank Limited* (2,414.7) LL
494 110 Adani Power Limited* (2,805.0) PL
495 108 Indian Overseas Bank (4,543.3) PL
496 451 Punj Lloyd Limited (5,066.6) PL
497 376 Sun Pharmaceutical Industries Limited (14,741.3) PL
498 107 Mangalore Refinery and Petrochemicals Limited (17,462.9) PL
499 96 Reliance Communications Limited (31,230.0) PL
500 87 Tata Motors Limited (43,352.0) PL
Symbols used
PL Profit to Loss
LP Loss to Profit
INDIAS TOP 500 COMPANIES Ranking By Net Worth L43
Rank
Company Name Net Worth (` Mn)
2016 2015
1 1 Reliance Industries Limited 1,707,990.0
2 2 Oil and Natural Gas Corporation Limited 1,435,532.6
3 3 State Bank of India 1,284,382.2
4 4 NTPC Limited 813,648.1
5 5 ICICI Bank Limited 804,293.6
6 6 Indian Oil Corporation Limited 664,308.0
7 7 Tata Steel Limited 662,888.7
8 10 HDFC Bank Limited 620,094.2
9 11 Infosys Limited 480,680.0
10 9 Tata Consultancy Services Limited 453,850.3
11 14 Axis Bank Limited 446,765.1
12 8 Bharti Airtel Limited 438,431.0
13 15 Hindustan Zinc Limited 432,359.5
14 12 Steel Authority of India Limited* 419,945.7
15 17 Bank of Baroda 388,480.5
16 18 Punjab National Bank 376,919.7
17 16 Hindalco Industries Limited@ 372,312.2
18 19 Power Grid Corporation of India Limited* 371,716.0
19 21 Larsen & Toubro Limited 367,172.9
20 13 Cairn India Limited 351,377.2
21 24 Wipro Limited 341,532.0
22 22 Bharat Heavy Electricals Limited 339,090.7
23 20 Vedanta Limited 337,781.4
24 23 NMDC Limited 322,411.9
25 26 Power Finance Corporation Limited 322,174.2
26 25 Housing Development Finance Corporation Limited 309,648.5
27 29 ITC Limited 302,532.8
28 27 GAIL (India) Limited 283,755.8
29 28 Bank of India 278,915.9
30 30 NHPC Limited 273,308.2
31 32 Canara Bank 264,533.9
32 31 JSW Steel Limited 254,567.6
33 166 Tata Global Beverages Limited 249,572.9
34 36 Rural Electrification Corporation Limited 248,514.7
Nationwide Presence Over 40,000 Ratings Assigned
Robust Commitee Process Institutionally Promoted

L44 Ranking By Net Worth INDIAS TOP 500 COMPANIES
Rank
2016 2015
35 34 Maruti Suzuki India Limited 234,119.0
36 87 Sun Pharmaceutical Industries Limited 226,636.4
37 33 IDBI Bank Limited 226,542.5
38 38 Bharat Petroleum Corporation Limited 222,308.3
39 35 Oil India Limited 214,889.5
40 37 Reliance Infrastructure Limited 206,767.8
41 51 Reliance Communications Limited 203,150.0
42 45 HCL Technologies Limited 193,664.8
43 41 UltraTech Cement Limited 187,840.4
44 40 Union Bank of India 183,361.8
45 39 Bharti Infratel Limited 179,542.0
46 42 Mahindra & Mahindra Limited 176,871.9
47 43 DLF Limited 170,310.5
48 47 IDFC Limited 168,088.9
49 44 Coal india Limited 167,147.3
50 49 Central Bank of India 156,427.5
51 46 Hindustan Petroleum Corporation Limited 156,053.9
52 50 Neyveli Lignite Corporation Limited 148,713.9
53 94 The Federal Bank Limited 146,837.2
54 56 Kotak Mahindra Bank Limited 141,410.9
55 53 The Tata Power Company Limited 140,091.7
56 48 Indian Overseas Bank 139,344.9
57 55 Oriental Bank of Commerce 131,574.5
58 57 National Aluminium Company Limited 126,610.9
59 58 Indian Bank 125,577.3
60 59 Reliance Capital Limited 123,560.0
61 62 Syndicate Bank 121,403.0
62 64 UCO Bank 119,392.2
63 61 Allahabad Bank 117,937.2
64 88 Yes Bank Limited 116,799.9
65 75 Piramal Enterprises Limited 113,483.5
66 78 Tech Mahindra Limited* 112,233.0
67 63 Grasim Industries Limited 111,772.8
68 73 Adani Ports and Special Economic Zone Limited 110,819.0
69 67 Cipla Limited 109,341.8
70 70 Bajaj Auto Limited 105,389.3
71 72 Dr. Reddys Laboratories Limited 105,140.0
72 66 Corporation Bank 104,844.8
73 65 Videocon Industries Limited*# 103,077.9
74 77 IndusInd Bank Limited 102,535.2

Rank
2016 2015
75 68 Adani Enterprises Limited 102,519.1
76 74 SJVN Limited 102,028.2
77 71 Ambuja Cements Limited 101,030.0
78 76 Andhra Bank 93,512.2
79 80 Shriram Transport Finance Company Limited 91,997.9
80 92 Lupin Limited 90,128.1
81 81 Aditya Birla Nuvo Limited 84,730.6
82 83 ACC Limited 82,349.7
83 84 Tata Communications Limited 81,618.5
84 90 Bharat Electronics Limited 78,843.4
85 86 LIC Housing Finance Limited 78,124.9
86 82 Idea Cellular Limited 76,742.8
87 85 Adani Power Limited* 76,026.9
88 95 Container Corporation of India Limited 75,939.5
89 91 JSW Energy Limited 75,859.9
90 99 Bosch Limited# 73,469.0
91 103 CESC Limited 71,162.6
92 98 Bank of Maharashtra 70,511.9
93 100 Torrent Power Limited 69,011.7
94 96 Dena Bank 66,754.3
95 60 Tata Motors Limited 66,246.2
96 - The Shipping Corporation of India Limited 65,336.0
97 107 Indiabulls Housing Finance Limited 64,912.9
98 109 Hero MotoCorp Limited 64,469.3
99 97 Jaiprakash Power Ventures Limited 63,794.3
100 101 IFCI Limited 62,589.2
101 104 The Jammu and Kashmir Bank Limited 61,100.5
102 118 MRF Limited^^ 60,797.7
103 105 Tata Chemicals Limited 60,262.4
104 108 State Bank of Bikaner & Jaipur 60,126.8
105 - Bajaj Holdings & Investment Limited 59,628.7
106 106 Vijaya Bank 59,232.4
107 111 Mahindra & Mahindra Financial Services Limited 56,647.5
108 123 Aurobindo Pharma Limited 53,595.4
109 89 Mangalore Refinery and Petrochemicals Limited 53,044.2
110 117 State Bank of Travancore 52,523.5
111 116 United Bank of India 52,339.7
112 115 Shree Cement Limited 51,932.6
113 119 Siemens Limited 51,177.0
114 120 Muthoot Finance Limited 50,386.9

Rank
2016 2015
115 145 Future Enterprises Limited 49,638.4
116 113 The Great Eastern Shipping Company Limited 49,304.1
117 151 Glenmark Pharmaceuticals Limited 48,661.0
118 122 Punjab & Sind Bank 48,116.2
119 125 Bajaj Finance Limited 47,687.8
120 133 Dewan Housing Finance Corporation Limited 46,312.1
121 126 Zee Entertainment Enterprises Limited 45,601.0
122 132 Cadila Healthcare Limited 45,103.0
123 121 Gujarat State Fertilizers & Chemicals Limited 44,547.8
124 124 State Bank of Mysore 43,615.8
125 135 The Karur Vysya Bank Limited 42,460.3
126 146 Sintex Industries Limited 42,245.5
127 127 Jindal Saw Limited 42,213.4
128 134 Asian Paints Limited 41,511.9
129 152 Shriram City Union Finance Limited 40,803.2
130 128 Mphasis Limited 40,419.0
131 131 Exide Industries Limited 40,117.9
132 139 Crompton Greaves Limited 38,939.9
133 147 Prestige Estates Projects Limited 38,920.1
134 137 Hindustan Unilever Limited 37,020.8
135 157 Ashok Leyland Limited 36,733.6
136 144 Divi's Laboratories Limited 35,580.1
137 141 Gujarat State Petronet Limited 34,949.7
138 160 Bharat Forge Limited 34,897.2
139 138 The South Indian Bank Limited 34,532.1
140 143 The Karnataka Bank Limited 33,890.6
141 142 MOIL Limited 33,727.2
142 150 IL&FS Transportation Networks Limited 33,526.7
143 158 Apollo Tyres Limited 32,570.6
144 136 The India Cements Limited 32,525.1
145 153 Gujarat Mineral Development Corporation Limited 32,400.7
146 168 NCC Limited 31,994.9
147 130 Punj Lloyd Limited 31,967.9
148 186 Cholamandalam Investment and Finance Company Limited 31,690.5
149 148 Apollo Hospitals Enterprise Limited 31,473.8
150 167 Titan Company Limited 30,886.4
151 154 Vardhman Textiles Limited 30,694.5
152 159 Sun TV Network Limited 30,200.5
153 156 UPL Limited 30,041.8
154 79 Oracle Financial Services Software Limited 29,906.7

Rank
2016 2015
155 179 Sundaram Finance Limited 29,503.0
156 164 Cummins India Limited 28,771.6
157 162 Rajesh Exports Limited 28,404.3
158 180 Nestl India Limited 28,372.1
159 172 Gujarat Fluorochemicals Limited 27,962.2
160 171 Rashtriya Chemicals and Fertilizers Limited 27,041.6
161 165 ABB India Limited 26,964.6
162 198 City Union Bank Limited 26,955.3
163 163 Srei Infrastructure Finance Limited 26,554.9
164 169 PTC India Limited 26,377.8
165 173 Manappuram Finance Limited 26,230.5
166 170 Birla Corporation Limited 26,062.1
167 161 The Indian Hotels Company Limited 25,870.9
168 178 Biocon Limited 25,678.0
169 182 Arvind Limited 25,670.8
170 175 Engineers India Limited 25,657.9
171 191 Godrej Consumer Products Limited 25,653.7
172 176 Nava Bharat Ventures Limited 25,302.3
173 181 The Ramco Cements Limited 25,274.4
174 149 Gujarat Narmada Valley Fertilizers & Chemicals Limited 24,546.6
175 177 EIH Limited 24,289.1
176 193 Havells India Limited 23,672.0
177 183 Jain Irrigation Systems Limited 23,462.3
178 188 Sobha Limited 23,445.4
179 204 Marico Limited 23,193.3
180 209 Dabur India Limited 23,161.0
181 - Mahindra CIE Automotive Limited 23,064.3
182 210 Balkrishna Industries Limited 22,903.8
183 229 Rolta India Limited^ 22,866.2
184 194 SRF Limited 22,656.8
185 190 Maharashtra Seamless Limited 22,639.4
186 192 Chambal Fertilisers and Chemicals Limited 22,431.8
187 200 Thermax Limited 22,413.1
188 184 Ruchi Soya Industries Limited* 21,976.4
189 205 Ipca Laboratories Limited 21,561.0
190 222 IRB Infrastructure Developers Limited 21,497.7
191 189 Coromandel International Limited 21,497.3
192 202 Gujarat Alkalies and Chemicals Limited 21,366.9
193 214 GlaxoSmithKline Consumer Healthcare Limited 21,088.4
194 217 Indraprastha Gas Limited 20,927.7

Rank
2016 2015
195 208 Motherson Sumi Systems Limited 20,919.0
196 203 Pidilite Industries Limited 20,712.2
197 206 Kalpataru Power Transmission Limited 20,681.7
198 219 Century Textiles and Industries Limited 20,594.8
199 220 Bayer CropScience Limited 20,317.0
200 196 BEML Limited 20,208.6
201 195 Jayaswal Neco Industries Limited* 20,031.1
202 227 Mindtree Limited 19,993.0
203 225 PC Jeweller Limited 19,903.8
204 212 Electrosteel Castings Limited* 19,616.5
205 129 United Spirits Limited* 19,405.8
206 - Jubilant Life Sciences Limited 19,378.2
207 211 Omaxe Limited 19,096.4
208 213 Hindustan Copper Limited 18,615.3
209 207 Welspun Corp Limited 18,570.1
210 199 GlaxoSmithKline Pharmaceuticals Limited# 18,516.7
211 226 DCM Shriram Limited 18,504.9
212 215 Puravankara Projects Limited 18,469.0
213 230 Voltas Limited 18,311.9
214 218 Gujarat Industries Power Company Limited 18,309.2
215 - Gujarat Gas Limited 18,249.2
216 224 United Breweries Limited 18,090.1
217 221 Graphite India Limited 17,519.2
218 216 Escorts Limited 17,080.9
219 228 Patel Engineering Limited 16,990.4
220 244 Amara Raja Batteries Limited 16,950.5
221 231 Uflex Limited 16,781.2
222 238 Godrej Industries Limited 16,576.1
223 251 AIA Engineering Limited 16,449.3
224 242 TVS Motor Company Limited 16,106.6
225 239 Kansai Nerolac Paints Limited 15,943.8
226 241 Cyient Limited 15,920.5
227 309 CEAT Limited 15,391.0
228 281 DCB Bank Limited 15,371.6
229 247 Shree Renuka Sugars Limited 15,355.6
230 261 Future Lifestyle Fashions Limited 15,188.0
231 236 Deepak Fertilisers and Petrochemicals Corporation Limited 15,187.9
232 294 The Lakshmi Vilas Bank Limited 14,776.9
233 245 HT Media Limited 14,653.9
234 259 Jindal Poly Films Limited 14,576.6
Rank
2016 2015
235 237 National Fertilizers Limited 14,544.1
236 243 Simplex Infrastructures Limited* 14,367.4
237 306 Trident Limited 14,297.0
238 288 Welspun India Limited 14,294.7
239 254 SKF India Limited 14,161.7
240 289 Capital First Limited 14,154.7
241 284 HSIL Limited 14,077.1
242 - Strides Shasun Limited 13,922.0
243 257 Hindustan Construction Company Limited@ 13,848.0
244 240 Linde India Limited 13,752.3
245 250 Trent Limited 13,673.9
246 255 E.I.D.- Parry (India) Limited 13,621.1
247 233 J.K. Cement Limited 13,605.6
248 256 Redington (India) Limited 13,599.5
249 246 MMTC Limited 13,556.6
250 383 Clariant Chemicals (India) Limited 13,528.4
251 268 Wockhardt Limited 13,442.0
252 252 BGR Energy Systems Limited 13,401.7
253 300 Sadbhav Engineering Limited 13,358.6
254 270 Persistent Systems Limited 13,348.9
255 253 JK Lakshmi Cement Limited 13,291.2
256 275 National Buildings Construction Corporation Limited 13,241.3
257 263 Tube Investments of India Limited 13,205.3
258 258 Uttam Galva Steels Limited@ 13,156.4
259 - Brigade Enterprises Limited 13,151.5
260 260 Alstom T&D India Limited 13,113.4
261 249 Mcleod Russel India Limited 12,999.0
262 262 Kirloskar Oil Engines Limited 12,887.4
263 273 Godfrey Phillips India Limited 12,872.4
264 276 Berger Paints India Limited 12,778.5
265 266 Allcargo Logistics Limited 12,766.2
266 269 Magma Fincorp Limited 12,743.3
267 279 Finolex Cables Limited 12,643.4
268 277 D. B. Corp Limited 12,605.1
269 290 KRBL Limited 12,575.6
270 280 Lakshmi Machine Works Limited 12,524.4
271 264 Force Motors Limited 12,383.7
272 267 Sterlite Technologies Limited* 12,337.4
273 326 Vakrangee Limited 12,315.3
274 291 Procter & Gamble Hygiene and Health Care Limited 12,286.8
Rank
2016 2015
275 320 Britannia Industries Limited 12,229.2
276 234 Usha Martin Limited* 12,141.6
277 327 Eicher Motors Limited 12,050.6
278 274 Tamil Nadu Newsprint and Papers Limited 11,963.3
279 278 OCL India Limited 11,926.4
280 305 Emami Limited 11,796.0
281 282 Raymond Limited 11,672.3
282 265 Balrampur Chini Mills Limited 11,172.1
283 297 The Supreme Industries Limited 11,061.7
284 293 FAG Bearings India Limited 11,052.1
285 361 Pfizer Limited 11,037.6
286 292 JBF Industries Limited 10,993.9
287 312 Sanofi India Limited 10,981.6
288 317 JK Tyre & Industries Limited 10,914.8
289 310 Ashoka Buildcon Limited 10,321.2
290 298 Jagran Prakashan Limited 10,271.5
291 313 Hexaware Technologies Limited 10,268.7
292 319 Atul Limited 10,155.7
293 287 J.B.Chemicals & Pharmaceuticals Limited 10,150.6
294 321 Himachal Futuristic Communications Limited 10,096.5
295 295 Novartis India Limited 10,019.9
296 299 Sarda Energy & Minerals Limited 9,904.6
297 - KPIT Technologies Limited 9,855.7
298 311 KEC International Limited 9,825.4
299 304 ALSTOM India Limited 9,736.1
300 324 Orient Cement Limited 9,636.0
301 325 Bata India Limited# 9,628.2
302 286 BASF India Limited 9,625.6
303 302 Nectar Lifesciences Limited 9,579.5
304 307 NIIT Technologies Limited 9,543.0
305 308 Unichem Laboratories Limited 9,464.3
306 303 HEG Limited 9,405.9
307 331 Abbott India Limited 9,336.4
308 316 Akzo Nobel India Limited 9,184.0
309 334 Aarti Industries Limited 9,078.0
310 340 Ratnamani Metals & Tubes Limited 9,067.1
311 349 Whirlpool of India Limited 9,024.8
312 328 Balmer Lawrie & Co Limited 8,892.1
313 333 Honeywell Automation India Limited# 8,813.1
314 336 K. P. R. Mill Limited 8,784.0
Rank
2016 2015
315 357 PI Industries Limited 8,683.8
316 344 WABCO India Limited 8,592.2
317 335 Sundram Fasteners Limited 8,589.7
318 315 Indian Metals and Ferro Alloys Limited* 8,586.4
319 362 Ushdev International Limited 8,580.3
320 323 HeidelbergCement India Limited# 8,542.9
321 350 Carborundum Universal Limited 8,499.0
322 187 Torrent Pharmaceuticals Limited 8,474.0
323 301 Diamond Power Infrastructure Limited@ 8,436.4
324 367 Alembic Pharmaceuticals Limited 8,335.6
325 322 Himadri Chemicals & Industries Limited 8,271.4
326 343 Gujarat Ambuja Exports Limited 8,248.1
327 338 Time Technoplast Limited 8,239.2
328 373 Surya Roshni Limited 8,110.1
329 354 3M India Limited 8,032.1
330 330 Greaves Cotton Limited 8,009.4
331 329 Kirloskar Brothers Limited 7,949.0
332 348 Radico Khaitan Limited 7,897.9
333 382 J. Kumar Infraprojects Limited 7,890.9
334 337 Finolex Industries Limited 7,844.8
335 392 Ajanta Pharma Limited 7,831.7
336 - Hinduja Global Solutions Limited 7,799.2
337 356 Rallis India Limited 7,782.6
338 332 Zuari Agro Chemicals Limited 7,755.2
339 346 Godawari Power & Ispat Limited 7,725.6
340 365 Supreme Infrastructure India Limited*@ 7,719.2
341 370 Colgate-Palmolive (India) Limited 7,703.2
342 314 GHCL Limited 7,694.2
343 341 Nahar Spinning Mills Limited 7,603.2
344 395 Kaveri Seed Company Limited 7,581.9
345 366 Zensar Technologies Limited 7,444.3
346 363 Gillette India Limited 7,423.4
347 351 Kothari Products Limited 7,415.5
348 352 Shoppers Stop Limited 7,407.1
349 342 JK Paper Limited 7,403.6
350 359 Pratibha Industries Limited 7,349.1
351 368 Lloyd Electric & Engineering Limited 7,336.7
352 347 The Dhanlaxmi Bank Limited* 7,238.5
353 372 Isgec Heavy Engineering Limited 7,204.5
354 397 Kajaria Ceramics Limited 7,203.5
Rank
2016 2015
355 - GRUH Finance Limited 7,104.9
356 355 Century Enka Limited 7,074.0
357 353 Bajaj Electricals Limited 6,788.9
358 374 VA Tech Wabag Limited 6,784.0
359 - Inox Leisure Limited 6,777.4
360 375 Himatsingka Seide Limited 6,752.3
361 390 Jubilant FoodWorks Limited 6,485.5
362 410 MBL Infrastructures Limited 6,469.4
363 396 Jyothy Laboratories Limited 6,428.1
364 379 TTK Prestige Limited 6,426.8
365 369 Apar Industries Limited 6,335.8
366 377 SRS Limited 6,272.4
367 451 Astral Poly Technik Limited 6,118.4
368 388 Grindwell Norton Limited 6,102.9
369 426 Kwality Limited 6,074.0
370 371 The West Coast Paper Mills Limited* 5,975.9
371 394 Mandhana Industries Limited 5,962.6
372 272 Polaris Consulting & Services Limited 5,881.6
373 386 Shrenuj & Co. Limited 5,837.9
374 400 Sunflag Iron and Steel Company Limited 5,835.3
375 402 Blue Star Limited 5,834.8
376 387 Mangalore Chemicals and Fertilizers Limited 5,830.5
377 364 Nahar Industrial Enterprises Limited 5,777.4
378 318 Dhunseri Petrochem Limited 5,724.0
379 423 ITD Cementation India Limited* 5,678.3
380 384 Savita Oil Technologies Limited 5,641.5
381 409 Sutlej Textiles and Industries Limited 5,594.1
382 417 Transport Corporation of India Limited 5,593.7
383 112 Petronet LNG Limited 5,582.9
384 431 Huhtamaki PPL Limited 5,571.8
385 - Navneet Education Limited 5,550.1
386 - Meghmani Organics Limited 5,529.3
387 389 DCW Limited 5,528.6
388 404 BS Limited 5,525.2
389 398 Tara Jewels Limited 5,442.9
390 405 Responsive Industries Limited 5,442.7
391 385 Indo Rama Synthetics (India) Limited* 5,389.5
392 393 HBL Power Systems Limited* 5,316.3
393 407 JVL Agro Industries Limited 5,248.6
394 - Solar Industries India Limited 5,236.1
Rank
2016 2015
395 - Tide Water Oil Co. (India) Limited* 5,163.8
396 401 Phillips Carbon Black Limited 5,096.4
397 406 INEOS Styrolution India Limited# 5,030.1
398 420 Goodyear India Limited 4,941.0
399 412 Nilkamal Limited 4,904.1
400 345 Castrol India Limited 4,869.2
401 360 Man Industries (India) Limited* 4,861.4
402 381 Greenply Industries Limited 4,810.0
403 427 Kalyani Steels Limited 4,727.9
404 414 SPML Infra Limited* 4,645.6
405 416 Tribhovandas Bhimji Zaveri Limited 4,628.3
406 413 The Bombay Dyeing and Manufacturing Company Limited 4,578.7
407 399 India Glycols Limited* 4,545.3
408 415 Dalmia Bharat Sugar and Industries Limited 4,512.9
409 419 Kirloskar Ferrous Industries Limited 4,510.2
410 421 Federal-Mogul Goetze (India) Limited# 4,507.7
411 429 RSWM Limited 4,366.0
412 435 Siyaram Silk Mills Limited 4,328.7
413 - HIL Limited 4,288.1
414 425 JMC Projects (India) Limited 4,282.4
415 424 Polyplex Corporation Limited 4,132.3
416 430 Usher Agro Limited# 4,123.7
417 403 Kohinoor Foods Limited 4,115.6
418 438 Munjal Showa Limited 4,089.0
419 433 Cosmo Films Limited 4,062.5
420 - Shasun Pharmaceuticals Limited 3,953.3
421 422 Dhampur Sugar Mills Limited 3,936.1
422 432 Seshasayee Paper and Boards Limited 3,917.2
423 462 Page Industries Limited 3,848.6
424 439 Fedders Lloyd Corporation Limited 3,847.6
425 460 Century Plyboards (India) Limited 3,846.5
426 418 Orient Paper & Industries Limited 3,833.1
427 437 Wheels India Limited 3,788.6
428 436 Supreme Petrochem Limited 3,746.9
429 443 Sundaram-Clayton Limited 3,740.2
430 445 Sangam (India) Limited 3,711.6
431 453 V-Guard Industries Limited 3,709.0
432 446 Minda Industries Limited 3,675.3
433 447 IFB Industries Limited 3,659.4
434 - Mafatlal Industries Limited* 3,645.7
Rank
2016 2015
435 468 Relaxo Footwears Limited 3,623.9
436 452 Sunil Hitech Engineers Limited 3,613.2
437 441 Gokul Refoils and Solvent Limited 3,585.9
438 434 Venky's (India) Limited 3,584.1
439 - Renaissance Jewellery Limited 3,565.1
440 440 Flexituff International Limited 3,525.2
441 457 L.G. Balakrishnan & Bros Limited 3,442.2
442 454 Steel Strips Wheels Limited 3,390.8
443 456 Deepak Nitrite Limited 3,390.8
444 444 Granules India Limited 3,385.2
445 450 APL Apollo Tubes Limited 3,321.2
446 - Visaka Industries Limited 3,314.2
447 465 Excel Crop Care Limited 3,276.6
448 464 Gabriel India Limited 3,233.0
449 448 McNally Bharat Engineering Company Limited* 3,144.1
450 - Rupa & Company Limited 3,139.8
451 463 Everest Industries Limited 3,126.5
452 490 Indo Count Industries Limited 3,111.5
453 458 PVR Limited 3,071.2
454 - Asahi India Glass Limited 3,069.2
455 461 VIP Industries Limited 3,058.8
456 467 KEI Industries Limited 3,028.9
457 469 Aarti Drugs Limited 3,024.0
458 466 LT Foods Limited 3,011.2
459 476 Skipper Limited 2,988.1
460 - SML Isuzu Limited 2,951.8
461 478 Srikalahasthi Pipes Limited 2,923.5
462 - Insecticides (India) Limited 2,885.6
463 - The Indian Hume Pipe Company Limited 2,864.4
464 481 Hitachi Home and Life Solutions (India) Limited 2,839.6
465 485 TVS Srichakra Limited 2,733.1
466 - Shilpi Cable Technologies Limited 2,731.9
467 480 Steel Exchange India Limited 2,728.0
468 472 Sanwaria Agro Oils Limited 2,654.6
469 470 Sudarshan Chemical Industries Limited 2,636.6
470 488 Avanti Feeds Limited 2,599.6
471 - Nandan Denim Limited 2,586.1
472 493 Ahluwalia Contracts (India) Limited 2,580.2
473 471 Shirpur Gold Refinery Limited 2,542.9
474 479 Somany Ceramics Limited 2,523.1
Rank
2016 2015
475 473 I G Petrochemicals Limited 2,387.7
476 378 Blue Dart Express Limited 2,314.3
477 475 Kkalpana Industries (India) Limited 2,301.4
478 477 Ruchi Infrastructure Limited 2,264.6
479 474 Sona Koyo Steering Systems Limited 2,240.2
480 482 Banswara Syntex Limited 2,235.0
481 - Omax Autos Limited 2,126.9
482 483 DCM Shriram Industries Limited 2,112.3
483 492 Hatsun Agro Product Limited 2,057.2
484 - Eros International Media Limited 2,055.6
485 489 Jay Bharat Maruti Limited 2,029.7
486 - Jamna Auto Industries Limited 1,983.1
487 487 Heritage Foods Limited 1,905.4
488 498 Tata Metaliks Limited 1,873.8
489 - Gulf Oil Lubricants India Limited 1,866.0
490 - Bodal Chemicals Limited 1,847.1
491 - Good Luck Steel Tubes Limited 1,809.8
492 - Filatex India Limited 1,702.5
493 491 Lumax Industries Limited 1,699.9
494 486 Subros Limited 1,573.9
495 - Gokaldas Exports Limited 1,557.5
496 500 Eveready Industries India Limited 1,428.1
497 499 The State Trading Corporation of India Limited 1,414.1
498 - Loyal Textile Mills Limited 1,312.2
499 495 Thangamayil Jewellery Limited 1,225.4
500 - Compuage Infocom Limited 802.3
Symbols used
PL Profit to Loss
LP Loss to Profit
SMERA Ratings on Pharmaceutical Industrys API
Dilemma & Overwhelming Focus on Generics
The Indian pharmaceutical industry (IPI) is estimated to be around ` 2.20 lakh crore
(FY16) and SMERA estimates that the industry will record a CAGR of 8-9% over the next
two years.
3.00
2.50
2.00
1.17
1.37
IPIs market share is 3.1% in the global
1.50
0.94 1.00
1.08
pharmaceutical market. The industry is
1.00
also the worlds third largest in terms
1.22
0.50 0.83 0.88 0.96 1.03
of volume/output
0.00
FY13 FY14 FY15 FY16 E FY17
Domestic Sales Exports
Source: SMERA Research
The healthy growth of the pharmaceutical industry can be attributed to Indias large pop-
ulation of over 1.28 bn with increasing instances of lifestyle diseases, rising disposable
income, low cost manufacturing to name a few. While we estimate that there are nearly
23,000 registered manufacturing units in India, the market share of the top 250 units
alone accounts for over 70%. The domestic market contributes around 47% to the IPI
turnover, while the share of exports is almost 53%.
The industry is characterized by low spending on R&D and this condition keeps India
dependent on the vagaries of multinational licenced drug manufacturers. Since, the in-
dustry is not suciently investing in cutting edge R&D activity- its ability to develop new
consumer categories remains limited. However, as one of the worlds top generic manu-
facturing destinations, the Indian pharma industry is starring at a revenue potential of
$43 bn from drugs expected to go o patent between 2015 and 2017. Even though, in
recent times, there has been issues due to non-compliance with standards; improved
adherence to USFDA and other international regulators, we expect the pharma industry
to be even better placed. Apart from the R&D issue, the Katoch Committee (KC) on the
promotion of domestic manufacture of Active Pharmaceutical Ingredients (API) reveals
the Achilles heel of Indias high value pharma industry.
The China Barnacle: High dependence on Chinese API

India is heavily dependent on China as the latter meets over 75% of Indias API require-
ment and also more than 50% of Indias top 10 pharmaceutical companys needs. Import
of API from China is also required for close to 150 essential drugs as per the National List
of Essential Medicines (NLEM) thanks to a 15-20% reduction in production cost. However,
such dependence could have a disastrous eect in case of adverse geopolitical relations,
impacting overall production and protability of Indian pharma companies. In a way, the
impact is already visible with Chinese API manufacturers outrivalling Indian counterparts
with their sheer scale of operations and low manufacturing cost to garner maximum mar-
ket share. This has already resulted in several established Indian API manufacturers being
referred to Corporate Debt Restructuring (CDR).
API manufacturing is highly polluting and till now the Indian pharma industry has relied on imports from China.
However, going forward, the Indian government plans to promote API manufacturing in India in order to reduce such
dependence. The KCs report on API recommends establishing large manufacturing zones/mega API parks with com-
mon facilities for small and large players including euent treatment plants, steam, testing facilities among others
to economise production. The committee also recommends providing nancial assistance to manufacturing units
to enable them to enhance their competitive strengths. The KC expects that an investment of ` 750-` 1000 crore
for such a mega park would bring in an annual benet of ` 6000 crore. However, implementation of the same is not
that easy particularly for MSMEs considering the high cost involved in setting up pollution control systems for zero
discharge and water treatment apart from installing mandatory online monitoring equipment for environmental pol-
lution. SMERA believes that it would be benecial if the KC recommendations are accepted and provision is made for
common pollution control equipments at concessional rates for the industry. Besides, faster regulatory clearances
from the concerned authorities would be a crucial factor in implementation of common facilities as mentioned. This
will go a long way in encouraging domestic API manufacturing and reducing dependence on Chinese imports.
SMERAs Experience in Pharma Industry:

SMERA has rated over 600 pharma enterprises. Some of their common characteristics are:
They are family-owned businesses
Their annual business turnover is below ` 100 crore with average revenue growth of ~15% during the past two
years
They are present across the value chain of drug manufacturing including drug intermediates and formulations
Their product portfolio comprises branded generics or they undertake contract manufacturing for established
players
They have WHO-GMP approved manufacturing units. Some of them also have their units approved by regulators
from developed markets such as USFDA and UK-MHRA.
Comparative performance of Micro and Small enterprises against Medium Enterprises (SMERA rated universe) in
terms of operating performance:
For FY2015 Small Enterprises Medium Enterprises

Operating Prot Margin (%) 8 - 10 10 12
Working Capital Cycle (Days) 100 - 120 70 90
Return on Capital Employed (%) 14 - 16 18 20
Gearing (times) 1.66 1.09
Interest Coverage Ratio (times) 3.71 4.06
Source: SMERA Research
Medium enterprises tend to fare better on operational performance compared to micro and small enterprises on ac-
count of higher scale of operations and resultant economies of scale. It has also been observed that the protability
of MSMEs increases as they move up the value chain.
Overall, SMERA believes that the industry has a good chance in maintaining its leadership and evolve. However, there
is a need to focus on data integrity and proper documentation, apart from strict quality checks, to be compliant with
stringent USFDAs GMP guidelines. This will enable Indian companies to not only reap the benets of exporting to
developed markets but also expand their domestic product portfolios.
A g r o C h e m i ca l s
Agro Chemicals
Comparative Matrix
Sector Total Income Net Profit Net Worth NPM RONW

Company Name
TI Rank ` Mn ` Mn ` Mn (%) (%)
1 UPL Limited 55,754.6 4,633.3 30,041.8 8.3 15.4
2 Bayer CropScience Limited 38,112.0 3,830.0 20,317.0 10.0 18.9
3 PI Industries Limited 19,811.7 2,432.5 8,683.8 12.3 28.0
4 Rallis India Limited 15,201.9 1,454.2 7,782.6 9.6 18.7
5 Excel Crop Care Limited 10,143.3 568.3 3,276.6 5.6 17.3
6 Meghmani Organics Limited 9,667.9 297.3 5,529.3 3.1 5.4
7 Insecticides (India) Limited 9,646.3 548.4 2,885.6 5.7 19.0
INDIAS TOP 500 COMPANIES

UPL Limited
Dun & Bradstreet D-U-N-S No 65-054-7685
About the Company
UPL Ltd (UPL), formerly known as United Phosphorus Ltd, was incorporated in 1985. The company Top 500 Ranking
is in the business of manufacturing and marketing crop protection chemicals. It also offers crop Income 147
protection solutions. Its comprehensive product portfolio comprises of crop protection chemicals
- fungicides, herbicides, insecticides, plant growth regulators, rodenticides, specialty chemicals, Net Profit 136
nutrifeeds and seeds. Some of its brands include; Manzate Prostick, Cuprofix, Unizeb Gold, Zineb Networth 153
Nautec, Lifeline, Cyrux, Lancer Gold, New Kiran, Jamuna 47, Kalia, Nishant and Sweekar among
others. In FY15, the company derived nearly 80% of its revenues from branded products. It operates Address
13 manufacturing units in India and 15 units outside India. It has its products registered in 116 3-11, GIDC,
countries including Brazil, India, Mexico, China, Australia, the US, Argentina, France and South Vapi, Dist. Valsad,
Africa, among others. It operates subsidiaries across 40 countries. In FY15, UPL commissioned a Vapi - 396195, Gujarat
new herbicide plant and a 50-MW equivalent coal-fired boiler in Jhagadia. During the same period, Website: www.uplonline.com
it launched two herbicides Iris for soybean and Eros for paddy. In Nov 2015, the company merged
Advanta Ltd with itself.
Financial Snapshot (` mn) Ratios (%)

Total Income Net Profit Networth EBIDTA EBIDTA Margin NPM RONW
55,754.6 4,633.3 30,041.8 8,979.8 16.1 8.3 15.4
(As on Mar 31, 2015)
Bayer CropScience Limited

About the Company
Bayer CropScience Ltd (BCSL) was incorporated in 1958 as Bayer-Agrochem Pvt Ltd. BCSL mainly Top 500 Ranking
operates in three business segments viz. crop protection, seeds and environment science. Under crop Income 201
protection / seeds, it markets a broad portfolio of high-value seeds along with innovative chemical
and biological pest management solutions. Environmental science segment of the company focuses Net Profit 158
on non-agricultural applications, with a broad portfolio of pest control products and services for Networth 199
areas ranging from the home and garden sector to forestry. The product portfolio of BSCL includes
vegetable seeds, crop seeds, insecticides, fungicides, herbicides, professional pest management, Address
vector management and seed growth solutions. The company markets its products under various Bayer House,
brands such as Admire, Adora, Adue, Antracol, Basta, Baycox, Belt Expert, Confidor, Ethrel, Gaucho, Central Avenue, Hiranandani Estate,
Hocusia, Jump and Larvin to name a few. In FY15, the company launched new products namely, Thane (W),
Raxil Easy, Racumin Sure, Arize 6201 Gold, Arize Swift Gold and ProAgro 5111. As on May 23, 2016, Mumbai - 400607, Maharashtra
Mr. Vijay Mallya who is the Chairman of the company, has been declared as a willful defaulter. Website: www.cropscience.bayer.in

38,112.0 3,830.0 20,317.0 6,034.0 15.8 10.0 18.9
(As on Mar 31, 2015)
PI Industries Limited
About the Company
PI Industries Ltd (PI) was incorporated in 1947 as Mewar Oil and General Mills Ltd and acquired its Top 500 Ranking
present name in 1993. The company is a subsidiary of Parteek Finance & Investment Company Ltd. Income 320
PI operates in two business segments viz. domestic agri-inputs and custom synthesis exports. The
agri-input business segment manufactures and markets agrochemicals, plant nutrients, speciality Net Profit 199
fertilizers and hybrid seeds. The custom synthesis segment provides custom synthesis and contract Networth 315
manufacturing of agro chemicals, pharma intermediates and other niche fine chemicals. Some of
the key brands under agri-input portfolio include Nominee Gold, Osheen, Foratox, Fosmite, Biovita Address
and Roket amongst other. PI operates three manufacturing sites in Gujarat having three formulation Udaisagar Road,
units and six multi product plants for manufacuturing of active ingredients and intermediates. PI has Udaipur - 313001, Rajasthan
a wide distribution network covering over 35,000 retail points and 8,000 distributors. In FY15, the Website: www.piindustries.com
company launched two products namely KEEFUN, an insecticide and BIOVITA, a speciality nutrition
product. In Dec 2015, PI launched new product named VIBRANT under insecticide segment to
control pest of rice crop.

19,811.7 2,432.5 8,683.8 4,110.0 20.7 12.3 28.0
(As on Mar 31, 2015)
INDIAS TOP 500 COMPANIES 3

Rallis India Limited
About the Company
Rallis India Ltd (Rallis) was incorporated in the year 1948 and is a subsidiary of Tata Chemicals. It Top 500 Ranking
is one of Indias leading crop care companies. The company caters to various business segments Income 379
such as domestic crop protection (pesticides, seed treatment), international business (exports to
more than 70 countries around the globe), contract manufacturing (protection chemicals, specialty Net Profit 251
chemicals, polymers), seeds, plant growth nutrients and agri services to the farming community. It Networth 337
has factories spread over 4 locations (Akola, Ankleshwar, Dahej, Lote), producing more than 10,000
M.T. of technical grade pesticide and about 30,000 tons/litres of formulations p.a. The distribution Address
network covers 80% of Indias districts with more than 1500 dealers and 40,000 retailers across 227, Nariman Point,
country. It has 11 regional offices, 44 sales offices, more than 25 depots and 225 well defined sales Mumbai, Maharashtra - 400021
territories across the country. Rallis is closely connected to around one mn farmers through Rallis Website: www.rallis.co.in
Kisan Kutumb programme. Rallis Innovation Chemistry Hub (RICH) is equipped with the state of art
laboratories located at Bangalore occupying 30000 sq feet of space and spread over four floors.

15,201.9 1,454.2 7,782.6 2,551.3 16.8 9.6 18.7
(As on Mar 31, 2015)
Excel Crop Care Limited

About the Company
Excel Crop Care Ltd (ECCL) was incorporated in the year 2003. ECCL along with its subsidiaries Top 500 Ranking
are engaged in the business of agro chemicals and manufactures technical grade pesticides and Income 486
formulations and trading in seeds. The company also manufactures and markets other agri inputs
like soil enrichers, bio-pesticides, plant growth regulators and soil and plant nutrition products. Net Profit 359
The company also provides farming solutions in the field of soil nutrition, seed treatment, crop Networth 447
protection and pest management. ECCLs product portfolio includes insecticides, weedicides,
fungicides, fumigants, rodenticides, bio-pesticides, soil & plant nutrition products, plant growth Address
promoter and regulators amongst others. Some of the brands under which ECCL market its products 184-87,
include Commando, Dzire, Crotocel, Enhancel, Excel Acetacel, Excel Plus, Excel Sure Shot and Swami Vivekanand Road,
Metacel amongst others. The company has presence in both domestic and international markets Jogeshwari (West),
with majority of exports in African and South American countries. In FY15, insecticides accounted Mumbai 400102, Maharashtra
for 41% of companys product portfolio followed by herbicides which accounted for 36%. During the Website: www.excelcropcare.com
year, exports accounted for around 31% of companys total revenue.

10,143.3 568.3 3,276.6 1,119.5 11.0 5.6 17.3
(As on Mar 31, 2015)
Meghmani Organics Limited

About the Company
Meghmani Organics Ltd (Meghmani) commenced its business operation in 1986 with the production Top 500 Ranking
of phthalocynine green 7. In 2004, the company acquired agro assets from Rallis and in 2105, it Income 497
diversified into manufacturing of caustic potash. Meghmani is a diversified chemical company
offering pigments, agrochemicals and basic chemicals. The products manufactured by the company Net Profit 408
include pigment green 7, pigment green 36, additives for ink & paint, CPC blue, alpha blue, beta Networth 386
blue, agro formulations, cypermethrin, profenophos, caustic soda flakes, chlorine gas and hydrogen
gas amongst others. It market its agrochemicals products under brands Megastar, Megacyper, Address
Megaban, Synergy and Courage. Meghmani has its manufacturing facilities located at Vatva, Dahej, Plot No 184,
Panoli and Ankaleshwar. The company has an installed capacity of manufacturing 31,140 MTPA of GIDC, Phase II,
pigments, 19,200 MTPA of agrochemicals and 166,600 MTPA of basic chemicals. Meghmani has Vatva,
network of 70 overseas distributors and warehouses in Belgium, Turkey, Russia, US and Uruguay. Ahmedabad - 382445, Gujarat
In FY15, Meghmani commenced commercial production at its plant at Dahej to manufacture alpha Website: www.meghmani.com
blue.

9,667.9 297.3 5,529.3 1,130.6 11.7 3.1 5.4
(As on Mar 31, 2015)
4 INDIAS TOP 500 COMPANIES

Insecticides (India) Limited
About the Company
Insecticides (India) Ltd (Insecticides India) was incorporated in 1996 and in 2002 it commenced Top 500 Ranking
operations by commencing formulation plantin Chopanki, Rajasthan. In 2003, it acquired 21 brands Income 499
of Montari Industries Ltd and in 2011 it acquired Monocil brand from NOCIL Ltd. Insecticides India
is engaged in manufacturing of agro chemicals, pesticides, insecticides, weedicides, fungicides and Net Profit 361
PGRs for all types of crops and households. The company markets its products under brands like Networth 462
Lethal, Hakama, Nuvan, Phentom, Superstar, Indan, Sargent, Metro and Sharp amongst others.
The company has its manufacturing facilities located in the states of Rajasthan, Gujarat and J&K. Address
Insecticides India caters to both domestic and international markets. The company has a distribution 401-402,
network of 29 depots & warehouses, over 5,000 distributors and over 6,000 dealers & retailers. Lusa Tower,
In FY15, the company established R&D centre in JV with OAT Agrio, Japan and commenced new Azadpur Commercial Complex,
formulation unit at Chopanki, Rajasthan. During the year, Insecticides India launched bio product Delhi 110033, Delhi
Myocraja and three technical products namely Diafenthiuron, Imazethapyr and Myclobutanil. Website: www.insecticidesindia.com

9,646.3 548.4 2,885.6 1,023.6 10.6 5.7 19.0
(As on Mar 31, 2015)
Dun & Bradstreet D-U-N-S No

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

A uto C omponents
Auto Components
Comparative Matrix

Company Name
1 Bosch Limited # 101,206.4 10,925.6 73,469.0 10.8 14.9
2 Motherson Sumi Systems Limited 50,708.0 5,149.0 20,919.0 10.2 24.6
3 Bharat Forge Limited 46,413.7 7,226.1 34,897.2 15.6 20.7
4 Tube Investments of India Limited 38,649.1 868.6 13,205.3 2.2 6.6
5 Sundram Fasteners Limited 24,091.3 1,453.2 8,589.7 6.0 16.9
6 Wheels India Limited 19,827.1 297.4 3,788.6 1.5 7.8
7 Mahindra CIE Automotive Limited 16,624.8 776.7 23,064.3 4.7 3.4
8 Munjal Showa Limited 16,511.1 749.6 4,089.0 4.5 18.3
9 Gabriel India Limited 14,484.1 606.2 3,233.0 4.2 18.8
10 Sundaram-Clayton Limited 14,011.1 681.0 3,740.2 4.9 18.2
11 Minda Industries Limited 13,890.5 493.3 3,675.3 3.6 13.4
12 WABCO India Limited 13,682.6 1,206.6 8,592.2 8.8 14.0
13 Jay Bharat Maruti Limited 13,015.3 412.6 2,029.7 3.2 20.3
14 Federal-Mogul Goetze (India) Limited # 12,591.7 250.9 4,507.7 2.0 5.6
15 Subros Limited 11,981.9 203.2 1,573.9 1.7 12.9
16 Steel Strips Wheels Limited 11,734.2 394.0 3,390.8 3.4 11.6
17 Lumax Industries Limited 11,481.2 165.7 1,699.9 1.4 9.7
18 Sona Koyo Steering Systems Limited 10,828.2 179.8 2,240.2 1.7 8.0
19 L.G. Balakrishnan & Bros Limited 10,511.1 577.9 3,442.2 5.5 16.8
20 Omax Autos Limited 10,107.3 (2.3) 2,126.9 (0.0) (0.1)
21 Jamna Auto Industries Limited 10,036.0 294.4 1,983.1 2.9 14.8

Bosch Limited
About the Company
Bosch Ltd (Bosch), a flagship company of the Bosch Group was incorporated in the year 1951 as Top 500 Ranking
Motor Industries Company Ltd. In the year 2008, the company acquired its present name. Bosch Income 93
is primarily engaged in manufacturing and trading of automotive products. The company also
manufactures and trades products including industrial technology, consumer goods and energy Net Profit 75
& building technology. Bosch manufactures and trades diesel and gasoline fuel injection systems, Networth 90
automotive aftermarket products, starters and generators, industrial equipments, packaging
machines, electrical power tools, household appliances, automotive electronics, security systems Address
and industrial and consumer energy products and solutions. It has manufacturing facilities located Hosur Road,
at Bengaluru, Nashik, Naganathapura, Chennai, Gangaikondan, Bidadi, Jaipur, Kumbaogodu and Adugodi,
Goa. The company has a wide network spanning across 1,200 towns and cities with around 3,400 Bengaluru 560030, Karnataka
service outlets. The company expanded its global footprints by opening its office at Colombo in Sri Website: www.boschindia.com
Lanka in Oct 2015. In Nov 2015, Bosch signed MoU with Indian Institute of Science, Bangalore to
address Indian centric requirements.

101,206.4 10,925.6 73,469.0 20,148.8 19.9 10.8 14.9
(As on Mar 31, 2015)
Motherson Sumi Systems Limited

About the Company
Motherson Sumi Systems Ltd (MSSL), the flagship company of Samvardhana Motherson Group, Top 500 Ranking
was formed in 1986 in JV with Sumitomo Wiring Systems Ltd of Japan. MSSL is primarily engaged Income 161
in manufacture and sale of components to automotive OEMs. Its product portfolio includes wiring
harnesses, mirrors for passenger car, injection moulded products, modules including dashboards, Net Profit 123
door trims, bumpers, blow moulded components, liquid silicone rubber moulded components, Networth 195
injection moulding tools, extruded rubber products, precision machined metal components and
waste recycling systems. In FY15, MSSL completed the acquisition of Wiring Harness business of Address
Stoneridge Inc to expand its footprint in North America. During the year, the company also acquired Mohan Cooperative Industrial Estate,
assets of Scherer & Trier group, Germany through its subsidiary SMRPBV and assets of Esslingen Mathura Road,
(Germany) plant of Minda Schenk Plastic Solutions GmbH. In Apr 2015, MSSL through its subsidiary New Delhi - 110044, Delhi
Samvardhana Motherson Automotive Systems Group BV received orders for the supply of a range of Website: www.motherson.com
exterior and interior systems for several future Mercedes-Benz vehicle generations from Daimler.

50,708.0 5,149.0 20,919.0 9,552.0 18.8 10.2 24.6
(As on Mar 31, 2015)
Bharat Forge Limited

About the Company
Bharat Forge Ltd (Bharat Forge), a part of Kalyani Group was incorporated in 1961. The company Top 500 Ranking
is engaged in manufacturing and selling of forged components catering to both domestic and Income 173
international markets. Bharat Forge manufactures performance, critical and safety components
for automotive applications in passenger vehicles, commercial vehicles and SUV and industrial Net Profit 98
applications in sectors like power, oil & gas, rail & marine, aerospace, metals & mining, construction Networth 138
and general engineering amongst others. Some of the prestigious clients of the company include
Ford, BMW, Honda, Force Motors, FMC Technologies, Siemens, Indian Railways, SAIL, and Tata Address
Steel to name a few. In FY15, Bharat Forge through its wholly owned subsidiary CDP Bharat Forge Mundhwa,
GmBH, Germany acquired oil & gas machining company, Mecanique Generale Langroise, France. Pune Cantonment,
In Dec 2015, Bharat Forge entered into an agreement with Rolls-Royce for supply of aero engine Pune - 411036, Maharashtra
components. In Feb 2016, the company through its subsidiary Klayani Strategic System Ltd entered Website: www.bharatforge.com
into JV with Rafael Advanced Defence Systems Ltd for BMP II upgrade tactical control systems and
other such programs.

46,413.7 7,226.1 34,897.2 14,100.6 30.4 15.6 20.7
(As on Mar 31, 2015)

Tube Investments of India Limited
About the Company
Tube Investments of India Ltd (TII), a Murugappa Group company was incorporated in 1959. TII Top 500 Ranking
major business are categories into three segments viz. cycles and components, engineering and Income 198
metal formed products. Under the cycles and components segment the company manufactures
bicycles of the standard and special variety including the alloy bikes and specialty performance Net Profit 313
bikes, fitness equipment such as motorised tread mills, recumbent bikes amongst others. The Networth 257
companys brands include BSA, Hercules, Track&Trail and Montra. Under engineering segment, TII
offers products like cold rolled steel strips and precision steel tubes viz., cold drawn welded tubes, Address
electric resistance welded tubes and stainless steel tubes. The metal formed products segment Dare House,
manufactures automotive and industrial chains, fine blanked products, stamped products, cold 234 NSC Bose Road,
rolled formed sections for railway wagons and passenger coaches. In FY15, TII launched new models Chennai - 600001, TN
of bicycles namely Ambush, Cybot and Captain Rhino. In Aug 2015, TII signed a license agreement Website: www.tiindia.com
with Ridley Bikes Belgium to acquire the brand rights of Ridley for India, Sri Lanka, Bangladesh,
Nepal, Bhutan and Myanmar.

38,649.1 868.6 13,205.3 3,810.2 9.9 2.2 6.6
(As on Mar 31, 2015)
Sundram Fasteners Limited

About the Company
Sundram Fasteners Ltd (Sundram Fasteners), incorporated in 1962, is a part of the flagship company Top 500 Ranking
of the TVS Group. It has a vast and diversified product range which includes high tensile fasteners, Income 278
cold extruded parts, powder metal parts, iron powder, radiator caps, gear shifters, hot forged
parts, precision forged differential gears, water pumps, oil pumps, fuel pumps, belt tensioners, Net Profit 252
rocker arm assemblies, cam followers, bearing housings, hubs and shafts, tappets & other engine Networth 317
components and valve train parts. It has acquired cutting-edge technological competencies in
forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly. Address
Sundram Fasteners is continuously expanding its global network of manufacturing facilities and 98 - A, VII Floor,
customer service centers to meet the increasing requirements of its global customers. It currently Dr.Radhakrishnan Salai,
has manufacturing operations located in India, Germany, UK and China. It also has established sales Mylapore,
and warehousing operations in the US. Today all divisions of the company are ISO/TS 16949 and ISO Chennai - 600004, TN
14001 certified. During FY15, exports of the company increased by 18% accounting to 38% of its Website: www.sundram.com
overall sales revenues.

24,091.3 1,453.2 8,589.7 2,862.9 11.9 6.0 16.9
(As on Mar 31, 2015)
Wheels India Limited

About the Company
Wheels India Ltd (Wheels India) was promoted by TVS Group in 1960. It is engaged in manufacturing Top 500 Ranking
of steel wheels for passenger cars, utility vehicles, commercial vehicles, tractors, construction Income 319
and earth moving equipment in India. It designs and develops steel wheels that include tube and
tubeless wheels, single, two and three piece wheels, disc wheels and de mountable wheels etc. Net Profit 407
Wheels India also manufactures air suspension systems for trucks and buses, marketed under the Networth 427
brand WILRIDE. Wheels India also has an energy equipment part division which manufactures
components for energy equipments like wind turbines and a heavy engineering division which Address
manufactures auto structurals like beams, boxes & columns, auto welded & manually welded from 21,
plates & rolled sections. The company has three plants in TN, two in Maharashtra, one each in Patullos Road,
UP, Haryana and Uttarakhand. Some of the major clients of the company include Ford, Hyundai, Chennai - 600002, TN
Caterpillar, Tata, Maruti Suzuki and Komatsu amongst others. In FY15, the company developed 242 Website: www.wheelsindia.com
new products using its in-house design facilities and also filed for three patents.

19,827.1 297.4 3,788.6 1,432.5 7.2 1.5 7.8
(As on Mar 31, 2015)

Mahindra CIE Automotive Limited
About the Company
Mahindra CIE Automotive Ltd (Mahindra CIE) was incorporated as a result of strategic alliance Top 500 Ranking
between M&M and CIE Automotive S.A., Spain. Mahindra CIE is an auto components supplier which Income 357
operates in five divisions viz. forgings, foundry, stampings, magnetic products and composites.
Under forgings, Mahindra CIE undertakes design, development & machining of forged crankshafts Net Profit 330
and steering knuckles. Under foundry division it manufactures ductile iron castings and focuses Networth 181
on design, development & machining of cast crankshafts, turbocharger housings and axle &
transmission parts. Under magnetic products, it offers magnets, ferrite cores, magnetic assemblies Address
and magnetic products. The stamping division of Mahindra CIE offers a wide range of stamped Mahindra Towers,
products like skin and non skin panels, chassis reinforcements, cross members, engine components P.K. Kurne Chowk,
etc. Its composites division produces glass based composites in the form of sheet moulding Worli,
compound and dough moulding compound. In FY15, Mahindra Hinoday Industries Ltd, Mahindra Mumbai 400018, Maharashtra
Ugine Steel Company Ltd, Mahindra Gears International Ltd, Mahindra Investments (India) Pvt Ltd Website: www.mahindracie.com
and Participaciones Internacionales Autometal Tres, S.L. were merged with the company.

16,624.8 776.7 23,064.3 1,526.3 9.2 4.7 3.4
(As on Mar 31, 2015)
Munjal Showa Limited

About the Company
Munjal Showa Ltd (MSL), a Hero group company, was established in 1985, in technical and financial Top 500 Ranking
collaboration with Showa Corporation of Japan. MSL is engaged in design and manufacturing of Income 359
shock absorbers and struts for two-wheelers and four-wheelers. The product portfolio of MSL
includes front fork, front and rear cushion, front and rear strut, open stay, rear door lifters, window Net Profit 335
balancer and gas springs amongst others. MSL supplies shock absorbers to auto companies in India, Networth 418
Japan, Germany, US and the UK, amongst other developed markets. MSLs products serve as original
equipment to a wide range of Maruti Suzuki upper end cars and export models, Honda City car, Address
complete range of Hero Honda Motorcycles, Kawasaki Bajaj Motorcycles, Kinetic Scooters and Hero 9-11,
range of mini-motorcycles and mopeds. MSL has three plants located at Gurgaon in Haryana and Maruti Industrial Area,
Haridwar in Uttarakhand. Some of the major client list of the company includes Maruti Suzuki India Sector 18,
Ltd, Hero MotoCorp Ltd, Honda Motorcycles & Scooters India Pvt Ltd, Honda Cars India Ltd and India Gurgaon - 122015, Haryana
Yamaha Motors Pvt Ltd amongst others. Website: www.munjalshowa.net

16,511.1 749.6 4,089.0 1,353.7 8.2 4.5 18.3
(As on Mar 31, 2015)
Gabriel India Limited

About the Company
Gabriel India Ltd (Gabriel) was established in 1961. Gabriel belongs to the flagship company of the Top 500 Ranking
Anand Group. The company provides the extensive range of ride control products, including shock Income 385
absorbers, struts and front forks, across every automotive segment with over 300 product models.
As one of the leading OEM supplier, it holds a 45% share in the passenger vehicles segment, 19% in Net Profit 357
the two-wheeler segment and over 80% in the commercial vehicles segment. It has manufacturing Networth 448
facilities at Pune, Nashik, Hosur, Dewas, Khandsa, Parwanoo & three satellite plants at Sanand,
Malur and Aurangabad. It also has 3 ultra-modern, state-of-the-art R&D centres at Pune, Hosur Address
& Nashik. It has a combined capacity of over 24 million Shock absorbers & struts and 2.7mn front 29th Milestone,
forks. Gabriel has technical collaborations with KYB Corporation, Japan, KYBSE, Spain and Yamaha Pune Nasik Highway,
Motor Hydraulic Systems, Japan. The company recently signed a technology license agreement with Village Kuruli,
KONI Shock Absorbers. It has established pan-India network of 17 CFA Locations and 350 dealer Pune - 410501, Maharashtra
network & supported by 5,000 retail outlets. Website: www.gabrielindia.com

14,484.1 606.2 3,233.0 1,194.2 8.2 4.2 18.8
(As on Mar 31, 2015)

Sundaram-Clayton Limited
About the Company
Sundaram-Clayton Ltd (SCL) was established in 1962. SCL is part of the TVS group, one of the largest Top 500 Ranking
auto components manufacturing and distribution group in India. SCL is one of the prominent Income 398
suppliers of aluminum die castings to automotive and non-automotive sector. The company
manufactures aluminum pressure die castings primarily for heavy commercial vehicles, passenger Net Profit 344
cars and two wheelers. The product range includes flywheel housing, gear housing, clutch housing, Networth 429
air connectors, lube oil cooler cover assembly, filter heads, filtration module casting, turbo charger
and cover coolant duct for the truck segment. For passenger cars it makes cylinder head, case Address
transaxle assembly, cylinder head cover, oil pan, chain case, adaptor oil filter, fork gear shift, starter Jayalakshmi Estates,
housing and A/C compressor housing. It also manufactures crank case, cylinder head, cylinder 29, (Old8), Haddows Road,
barrel, wheel hub for two wheelers and brake equipment valve bodies. The sales composition is Chennai - 600006, TN
60% in domestic and 40% in export market. SCL has the manufacturing capacity of total 50,000 Website: www.sundaram-clayton.com
tonnes p.a with three manufacturing plants, three regional offices in the US, Sweden & Germany
for onsite support.

14,011.1 681.0 3,740.2 1,727.4 12.3 4.9 18.2
(As on Mar 31, 2015)
Minda Industries Limited

About the Company
Minda Industries Ltd (MIL) was incorporated in 1992. MIL is a flagship company of UNO MINDA, Top 500 Ranking
N K Minda Group. It is among the countrys leading suppliers of proprietary automotive solutions Income 404
to Original Equipment Manufacturers (OEMs). The company designs, develops and manufactures
switches for 2/3/4 wheelers and off-road vehicles. It has operations spread across 25 plants in Net Profit 371
India with more than 20 different products manufactured, partnering with 9 global automotive Networth 432
technology players through joint ventures and partnerships and a global presence in 12 countries. It
also has more than 100+ patents registered and 120+ design registration, 3 R&D centres across the Address
country and employee base of 6200+ across all offices and locations. It serves 50+ OEMs in India & B-64/1,
overseas with strong network of more than 500 country business partners & 10,000 dealers. During Wazirpur Industrial Area,
FY15, companys lighting division at Haryana expanded its capacity production of tail lamp. In 2015, New Delhi - 110052, Delhi
MIL has planned to hive off its battery division for which it has signed a joint venture with Panasonic Website: www.mindagroup.com
Corporation (Japan).

13,890.5 493.3 3,675.3 1,350.8 9.7 3.6 13.4
(As on Mar 31, 2015)
Wabco India Limited

About the Company
Wabco India Ltd (Wabco India) was incorporated in 2004. Wabco India belongs to the Wabco Top 500 Ranking
Group established in 1962. Wabco India designs, manufactures and markets conventional Income 409
braking products, advanced braking systems, air Suspension and driveline controls products and
systems. Under conventional products it manufactures products such as automatic slack adjusters, Net Profit 275
actuators, brake chambers, valves, drying and distribution unit and air compressors. Wabco India Networth 316
excels in engineering and manufacturing with five world-class manufacturing facilities, software
design center and a test track in India. It also provides software development services to the group Address
companies. It has an advanced software design and development center located in Chennai and a Plot No. 2 (SP),
center of mechanical engineering located in Ambattur, Chennai. WABCO India employs over 3,200 III Main Road, Ambattur Industrial Estate,
employees. It has world class test track located in Chennai, a 200-acre state-of-the-art facility where Chennai - 600058, TN
different testing can be conducted on dry and wet surface. During FY15, the company initiated Website: www.wabco-auto.com
with Lean Equipment Development Centre in order to cater to the needs of customers located in
western part of India.

13,682.6 1,206.6 8,592.2 2,236.5 16.3 8.8 14.0
(As on Mar 31, 2015)

Jay Bharat Maruti Limited
About the Company
Jay Bharat Maruti Ltd (JBML) was founded in 1986, in collaboration with Maruti Suzuki India Ltd for Top 500 Ranking
the manufacturing of sheet metal components and assemblies. The product portfolio includes sheet Income 421
metal components (including skin panels), welded assemblies, chassis and suspension parts and
assemblies, exhaust systems, fuel fillers (fuel pipe), spare parts. It has four manufacturing plants, Net Profit 382
incorporating advanced technology, located at Gurgaon and Manesar in Haryana. During FY15, the Networth 485
company launched new product, the Ciaz Sedan. The companys bestselling model Celerio sold
more than 100,000 units during FY15. JBML is certified with TS-16949:2009, ISO 14001:2004, OHSAS Address
18001:2007. The company has formed a technology partnership with leading global companies like 601, Hemkunt Chambers,
Hamamatsu Pipe co. ltd, Dalwa Excel, Yorozu Corporation, Futaba Industrial Co., and Okamoto Press 89, Nehru Place,
Co. ltd amongst others. The company caters to esteemed clients that include Ashok Leyland, Nissan, New Delhi - 110019, Delhi
Honda, Hero, Bajaj Auto ltd etc. It has alliance with more than 20 renowned companies globally Website: www.jbm-group.com
including Arcelor Mittal, JFE Steel Corporation, Cornaglia, Ogihara amongst others.

13,015.3 412.6 2,029.7 1,126.7 8.7 3.2 20.3
(As on Mar 31, 2015)
Federal-Mogul Goetze (India) Limited

About the Company
Federal-Mogul Goetze (India) Ltd (FMGIL), a part of Federal Mogul Holdings Ltd, Mauritius was Top 500 Ranking
incorporated in 1954 as a JV with Goetze-Werke of Germany. In 2001, Federal-Mogul Sintered Income 425
Products Ltd got merged with Goetze-India Ltd and in 2006 the company acquired its present name.
FMGIL is primarily engaged in the manufacture, supply and distribution of automotive components Net Profit 421
used in two, three and four wheeler automobiles. Its product portfolio includes pistons, piston Networth 410
rings, sintered metal products parts and cylinder liners which found applications in bi-wheelers,
cars, SUVs, tractors, LCV, HCV, stationary engine and high output locomotive diesel engines amongst Address
others. FMGIL operates through three manufacturing plants located in Patiala in Punjab, Bengaluru G-4, J.R Complex,
in Karnataka and Bhiwadi in Rajasthan. FMGIL has a subsidiary in the name of Federal-Mogul TPR Gate No.-4, Mandoli,
(India) Ltd in technical collaboration with Teikoku Piston Ring Co Ltd, Japan. Delhi - 110093, Delhi
Website: www.federalmogulgoetzeindia.net

12,591.7 250.9 4,507.7 1,372.5 10.9 2.0 5.6
(As on Mar 31, 2015)
Subros Limited
About the Company
Subros Ltd (Subros) was founded in 1985, as a joint venture public limited company with 40% Top 500 Ranking
ownership by Suri family of India and 13% ownership by Denso Corporation & Suzuki Motor Income 440
Corporation each. Subros is one of the leading manufacturers of thermal products for automotive
applications in India. Subros has manufacturing plants two at Noida and one each at Manesar, Pune, Net Profit 430
Chennai and Sanand with an annual capacity of 1.5 Million AC Kits p.a. The company has grown Networth 494
from a capacity of 15,000 AC units in 1985 comprising of largely an assembly operation, into one
of the largest and integrated manufacturing units in India for auto air conditioning systems. Subros Address
manufactures compressors, condensers, heat exchangers and all connecting elements required to Lower Ground Floor,
complete AC loop and caters to all segments viz. passenger vehicles, buses, trucks, refrigeration World Trade Centre,
transport, off- roaders & railways. Customers of the company include Maruti Suzuki, TATA, Force Barakhamba Lane,
Motors, DENSO, Renault Nissan, Indian railways and Ashok Leyland among others. During FY15, New Delhi - 110001, Delhi
Subros inaugurated STEC (Subros Tool Engineering Centre) in Noida; this will focus on addressing Website: www.subros.com
the demands of captive tools and molds requirements.

11,981.9 203.2 1,573.9 1,378.0 11.5 1.7 12.9
(As on Mar 31, 2015)

Steel Strips Wheels Limited
About the Company
Steel Strips Wheels Ltd (SSWL) designs and manufactures automotive steel wheels since 1991 and Top 500 Ranking
is among the leading supplier to Indian and global automobile manufacturers. The product range Income 444
covers steel wheels for two / three wheelers, passenger cars, multi utility vehicles, tractors, trucks &
OTR Vehicles. SSWL has three production facilities: mainly passenger car wheels in Dappar (Punjab) Net Profit 387
and Oragadam (Chennai) and truck wheels in Jamshedpur (Jharkhand). Their total capacity amounts Networth 442
to nine mn wheels in Dappar, six mn wheels in Oragadam and two mn truck wheels in Jamshedpur
amounting to a total capacity of 17 mn wheels. SSWL is also a supplier to global OEMs and delivers Address
to countries like Russia, Brazil, Thailand, Japan, Germany and Romani etc. It is one of the leading Village Somalheri/Lehli,
steel wheel manufacturers in India catering to steel wheels demand for passenger cars, tractors, P. O. Dappar,
trucks and off the road (OTR) vehicles. Internationally, the company caters to PSA Peugeot Citroen, Tehsil Derabassi,
BMW, VW/Audi, Piaggio, Siam Kubota and Renault Nissan Group among others. Mohali - 147001, Punjab
Website: www.sswlindia.com

11,734.2 394.0 3,390.8 1,248.2 10.6 3.4 11.6
(As on Mar 31, 2015)
Lumax Industries Limited

About the Company
Lumax Industries Ltd (Lumax) was incorporated in 1945 and in 1984 it entered into technical Top 500 Ranking
assistance agreement with Stanley, Japan for lighting equipment. In 1990, the company set Income 447
up manufacturing unit for auto bulbs and in 2010 it set up a dedicated plant for hero Honda in
Haridwar, UP. The company is one of the largest automotive lighting solutions company in India Net Profit 439
and South Asia. Lumax Industries offers a wide array of complete automobile lighting systems and Networth 493
solutions, which includes stellar quality head lamps and tail lamps, sundry and auxiliary lamps and
other related products and accessories for four wheeler, two wheelers, trucks, buses, earth-movers Address
and tractors and a variety of diverse applications. Lumax operates nine manufacturing facilities B-85-86,
located in the states of Haryana, Uttarakhand, Maharashtra, Gujarat and Karnataka. The company Mayapuri Industrial Area,
caters to both domestic and overseas customers including Maruti Suzuki, Tata, Bajaj, Honda, Hero, New Delhi 110064, Delhi
Mahindra, Ashok Leyland, Yamaha, John Deere, Nissan, CNH, Trucklite, Adiva and Vignal to name Website: www.lumaxindustries.com
some. In FY15, automotive lamps accounted for 94.5% of companys turnover.

11,481.2 165.7 1,699.9 637.4 5.6 1.4 9.7
(As on Mar 31, 2015)
Sona Koyo Steering Systems Limited

About the Company
Sona Koyo Steering Systems Ltd (Sona Koyo), the flagship company of The Sona Group, was Top 500 Ranking
incorporated in 1985 in technical collaboration with JTEKT Corporation, Japan. The company Income 467
is engaged in manufacturing of steering systems and other auto components for passenger cars
and utility vehicles. Its product portfolio encompass rack & pinion steering, recirculation ball Net Profit 435
screw steering gear, steering column, steering shaft, ball joints, suspension arms & links, rear axle Networth 479
assembly, clutch disc assembly, drive shaft and differential carrier among others. The company
operates manufacturing plants across Haryana, Gujarat and TN. Major clients of Sona Koyo include Address
Maruti Suzuki, Toyota, Hyundai, Tata Motors, Mahindra & Mahindra, General Motors and Mahindra- UGF - 6,
Renault. The company through its network of overseas JV partners exports precision products to Indraprakash,
US, Europe and Japan. Sona Koyo has an associate in the name of Sona Skill Development Centre Ltd 21, Barakhamba Road,
and two subsidiaries namely JTEKT SONA Automotive India Ltd and Sona Fuji Kiko Automotive Ltd. New Delhi - 110001, Delhi
Website: www.sonagroup.com

10,828.2 179.8 2,240.2 1,260.2 11.6 1.7 8.0
(As on Mar 31, 2015)

L.G. Balakrishnan & Bros Limited
About the Company
L.G. Balakrishnan & Bros Ltd (LGB) was incorporated in the year 1937 as a transport operator. The Top 500 Ranking
company primarily operates in two business segments viz. Transmission products and metal forming Income 477
products. Under transmission products, it manufactures automotive chains, sprockets, tensioners,
belts and brake shoe. Under metal forming products, LGB offers fine blanking for precision sheet Net Profit 358
metal parts, machined components and wire drawing products for internal use as well as other Networth 441
chain manufacturing plants, spring steel suppliers and umbrella manufacturers. LGB market its
products under the brand name Rolon. The company operates through its manufacturing facilities Address
located in TN, Maharashtra, Uttarakhand, Karnataka and Haryana. LGBs products are exported to 6/16/13,
US, Australia, New Zealand, Japan, South Africa, European counries and Far & Middle East countries. Krishnarayapuram Road,
As on Mar 31 2015, the company had two subsidiaries namely BCW V Tech India Pvt Ltd and LGB Ganapathy,
USA INC. In FY15, the transmission products segment accounted for around 76% of companys total Coimbatore 641006, TN
revenue followed by metal products segment which accounted for around 18% of the total reveune Website: www.lgb.co.in
of the company.

10,511.1 577.9 3,442.2 1,384.3 13.2 5.5 16.8
(As on Mar 31, 2015)
Omax Autos Limited

About the Company
Omax Autos Ltd (Omax) was incorporated in the year 1985. In 2014, the company set up full-fledged Top 500 Ranking
railway division in Haryana and in 2015 it started Innovomax to explore new technology frontiers Income 487
and to improve upon the existing products. Omax is an OEM supplier and an auto component
manufacturer with presence in various industry segments including automotive, home ware, Net Profit 463
railways & heavy fabrication and off-highway. Various products manufactured by OMX across Networth 481
various categories include chain case, fuel tank, retention tanks, rear carrie, bracket pillion, frame
assembly, sprockets, crash tube, base battery sets, brake pedal, gear shifter shaft assembly, chassis Address
and seat rail assembly amongst others. The company operates nine manufacturing facilities located 69th, K. M. Stone,
in Haryana, Karnataka, UP and Uttarakhand. Some of the prestigious customers of Omax include Dharuhera,
Maruti Suzuki, Ashok Leyland, Piaggio, Indian Railways, Sonalika International, Nissan, Yamaha and Delhi - Jaipur Highway,
Renault amongst others. In Jul 2015, Omax sold its stake in its subsidiary Gmax Auto Ltd. Rewari - 123110, Haryana
Website: www.omaxauto.com

10,107.3 (2.3) 2,126.9 579.9 5.7 (0.0) (0.1)
(As on Mar 31, 2015)
Jamna Auto Industries Limited

About the Company
Jamna Auto Industries Ltd (JAI) was incorporated in 1965 and launched parabolic springs in 1988. Top 500 Ranking
In 2010 the company tied up with Ridewell Corporation, USA to manufacture various suspension Income 490
products. The company is engaged in design and manufacturing a wide range of parabolic / tapered
leaf springs to meet the requirements of HCVs, LCVs and SUVs. The product portfolio of JAI includes Net Profit 411
multi-leaf spring, parabolic springs, bogie suspension, air suspension and lift axle. The company Networth 486
manufactures over 350 parts and markets them under brand name JAI. The company has a customer
base across the globe including Ashok Leyland, Force Motors, Man Trucks India, Volvo India, Renault Address
Nissan, Ford Motors, VE Commercial Vehicles, Kamaz Vectra, SML Isuzu, UD Trucks and Nissan. The Jai Springs Road,
company operates manufacturing facilities located in the states of MP, TN, Haryana and Jharkhand. Industrial Area,
JAI operates with an annual installed capacity of manufacturing 180,000 MT of springs. In FY15, Yamuna Nagar - 135001, Haryana
the company sold 6,940 lift axles. During the nine months ended Dec 2015, JAI sold 100,509 MT of Website: www.jaispring.com
springs.

10,036.0 294.4 1,983.1 787.2 7.8 2.9 14.8
(As on Mar 31, 2015)

A utomobile -
T wo / T h ree W h eelers
Automobile -
Two/Three Wheelers
Comparative Matrix

Company Name
1 Hero MotoCorp Limited 280,780.4 25,406.8 64,469.3 9.0 39.4
2 Bajaj Auto Limited 221,944.3 31,540.3 105,389.3 14.2 29.9
3 TVS Motor Company Limited 101,308.3 3,478.3 16,106.6 3.4 21.6
4 Eicher Motors Limited 31,475.2 5,589.2 12,050.6 17.8 46.4

Hero MotoCorp Limited
About the Company
Hero MotoCorp Ltd (HML) was incorporated in 1984 as Hero Honda Motors Ltd and later in 2011 Top 500 Ranking
acquired its present name. Subsequently in 2012, all the products were migrated to brand Hero. Income 40
HML is one of the largest two-wheeler manufacturing companies in India. It has wide range of
products across bikes (100cc, 125cc, 150cc, 225cc) and scooter categories. Some of the key brands Net Profit 37
are Hunk, Super Splendor, HF Dawn, Maestro, Pleasure, Karizma, Xtreme Sports among others. It Networth 98
has 52.8% market share in the domestic motorcycle segment and has presence in 22 countries.
Two wheelers are manufactured across four globally benchmarked manufacturing facilities; two Address
of these are based at Gurgaon and Dharuhera in Haryana. The third manufacturing plant is based 34, Community Centre,
at Haridwar, Uttrakhand; the latest addition is the Hero Garden Factory in Neemrana, Rajasthan. Vasant Vihar, Basant Lok,
During FY15, the company started operations in Bangladesh through a joint venture with Nitol New Delhi - 110057, Delhi
Niloy; entered Turkey market with popular heromotorcycles and scoters; Launched Splender Pro Website: www.heromotocorp.com
Classic and Passion Pro TR. It also launched Splender iSmart which was regarded as a benchmark
for fuel efficiency.

280,780.4 25,406.8 64,469.3 38,798.8 13.8 9.0 39.4
(As on Mar 31, 2015)
Bajaj Auto Limited

About the Company
Bajaj Auto Ltd (Bajaj Auto) is the flagship company of the Bajaj Group and operates in the automotive Top 500 Ranking
industry. It is one of the worlds largest motorcycle manufacturers. The company has expertise in Income 46
segments of utility, commuter and sports motorcycles & intra-city vehicles. The companys presence
can be felt across Asia, Africa & Latin America. It has in all three plants, two at Waluj and Chakan in Net Profit 29
Maharashtra and one plant at Pant Nagar in Uttaranchal. The company in FY15 has performed well Networth 70
under the entry level segment contributing to 23% share of the domestic market. Its brands Platina
and newly introduced CT100 were able to pursue entry level customers. The sports segment with Address
brands like Pulsar and KTM and cruiser segment with Avenge range has also performed well in the Mumbai - Pune Road,
same period. During FY15, Bajaj Auto has managed to achieve a growth of 14% in exports under two Akurdi,
and three wheelers segment, it sold over 3.29 mn motorcycles in India and abroad. Pune - 411035, Maharashtra
Website: www.bajajauto.com

221,944.3 31,540.3 105,389.3 43,586.8 19.6 14.2 29.9
(As on Mar 31, 2015)
TVS Motor Company Limited

About the Company
TVS Motor Company Ltd (TVS Motor) is a flagship company of the TVS Group. The company along Top 500 Ranking
with subsidiaries and associates offers a wide range of products and services including automotive Income 92
vehicles and components manufacturing, vehicle financing, wind power production and housing.
The company manufactures two wheelers including motorcycles, mopeds and scooters. Some of Net Profit 164
the brands under which TVS Motor markets its two-wheelers include Apache Series RTR, Phoenix Networth 224
125, MAX4R, TVS XL Super, TVS XL Heavy Duty, Wego, Jupiter and Scooty Streak amongst others.
The company also manufactures three wheelers under the brand TVS King. TVS Motor has Address
manufacturing facilities located in TN, Karnataka and HP in India and Karawang in Indonesia. The No:29, Haddows Road,
company exports to around 58 countries across Africa, Europe, Latin America and Asia pacific. Chennai - 600006, TN
During FY15, the company launched TVS StaR City+, Scooty Zest 110 and TVS Jupiter with next-gen Website: www.tvsmotor.in
110cc CVT-I Engine. In Jan 2016, it launched TVS Apache RTR 200 and TVS Victor in India. In Feb
2016, it launched a service app for its customers, updating on all vehicle related information.

101,308.3 3,478.3 16,106.6 6,386.9 6.3 3.4 21.6
(As on Mar 31, 2015)

Eicher Motors Limited
About the Company
Eicher Motors Ltd (Eicher) the flagship company of the Eicher Group was incorporated in 1982. Top 500 Ranking
The company operates in the automotive space. It manufactures and markets the Royal Enfield, Income 229
a premium motorcycle catering to the domestic and global customers. The product portfolio of
Royal Enfield encompass; Bullet, Classic, Continental GT and Thunderbird. It also operates a JV with Net Profit 113
Volvo Group, VE Commercial Vehicles Ltd which designs, manufactures and markets trucks and Networth 277
buses. Eicher also has JV with US-based Polaris Industries Inc. In the name of Eicher Polaris Pvt Ltd
which undertakes designing and developing of personal vehicles. During CY14, Eicher sold 302,592 Address
motorcycles, registering a growth of over 70% compared to last year. It expanded its dealership 3rd Floor,
network to 400 during the same period. In CY14, the company through its JVs sold 40,783 Select Citywalk,
commercial vehicles. In Feb 2016, Royal Enfield introduced Himalayan, a motorcycle purpose-built A-3 District Centre,
for adventure and touring in the Himalayas. Saket, New Delhi - 110017, Delhi
Website: www.eicher.in

31,475.2 5,589.2 12,050.6 8,487.3 27.0 17.8 46.4
(As on Dec 31, 2014)

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
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(As on Mar 31, 2015)

Top 500 Ranking
Income
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

A utomobiles
Automobiles
Comparative Matrix

Company Name
1 Maruti Suzuki India Limited 508,022.0 37,112.0 234,119.0 7.3 15.9
2 Mahindra & Mahindra Limited 397,943.6 29,853.9 176,871.9 7.5 16.9
3 Tata Motors Limited 381,761.5 (43,352.0) 66,246.2 (11.4) (65.4)
4 Ashok Leyland Limited 136,866.5 2,338.8 36,733.6 1.7 6.4
5 Escorts Limited 40,464.8 1,053.4 17,080.9 2.6 6.2
6 Force Motors Limited 24,295.0 1,013.6 12,383.7 4.2 8.2
7 SML Isuzu Limited 11,143.4 369.4 2,951.8 3.3 12.5

Maruti Suzuki India Limited
About the Company
Maruti Suzuki India Ltd (Maruti Suzuki), formerly known as Maruti Udyog Ltd, is an automobile Top 500 Ranking
manufacturer in India. Maruti Udyog Limited was established in 1981 in Gurgaon, Haryana. The Income 16
company is a subsidiary of Suzuki Motor Corporation, Japan. The company is primarily engaged
in manufacturing, purchase and sale of motor vehicles, components and spare parts. The product Net Profit 24
portfolio of Maruti Suzuki includes Alto K10, Alto 800, Wagon R, Ritz, Celerio, Swift, Ciaz, Omni, Networth 35
Eeco, Ertiga, Gypsy and Dzire amongst others. The company also exports its vehicles to the countries
across Europe, Africa, Asia, Oceania and Latin America. Maruti Suzuki offers its vehicles under 14 Address
brands and over 150 variants. The company has two production units in Manesar and Gurgaon. Nelson Mandela Road,
During FY15, It has sold 1,292,415 vehicles. The exports of the company grew by 20.1% in FY15. New Delhi - 110070, Delhi
Currently, the company has around 1,619 sales outlets and 1,045 smaller outlets. It is also setting up Website: www.marutisuzuki.com
a new vehicle manufacturing facility in Hansalpur, Gujarat, with operations likely to begin in 2017.
In FY15, Maruti Suzuki has launched Maruti Care service mobile app that will fulfill the service
needs of the car.

508,022.0 37,112.0 234,119.0 75,440.0 14.8 7.3 15.9
(As on Mar 31, 2015)
Mahindra & Mahindra Limited

About the Company
Mahindra & Mahindra Ltd (M&M) was established in 1945, and is a flagship company of the Mahindra Top 500 Ranking
Group. The company is engaged in business across automotive, farm equipment, financial services, Income 26
and other sectors such as information technology, defence, retail amongst others. M&M operates
through two divisions viz. automotive and farm equipment. The automotive division produces UV, Net Profit 31
MPVs, LCVs, three wheelers, two wheelers and passenger cars. Some of M&Ms UV brands are Networth 46
Scorpio, Bolero, Xylo, and Verito. The farm equipment division manufactures tractors and provides
farm-support services which include agri-mechanisation solutions under Mahindra AppliTrac, seeds, Address
crop protection along with market linkages, distribution, agri-support information and counselling Gateway Building,
through Mahindra Samriddhi. It has overseas presence in Australia, Europe, Latin America, Malaysia, Apollo Bunder,
South Korea and South Africa, among others. During FY15, the company launched New Generation Mumbai - 400001, Maharashtra
Scorpio. Under farm division, M&M launched technologically advanced tractor named Arjun Novo. Website: www.mahindra.com
In Feb 2015, the company also launched XUV500 Xclusive Edition. It also launched refresh versions
of its Thar, Xylo, Bolero Maxi Truck (BMT), Bolero Camper and Alfa models.

397,943.6 29,853.9 176,871.9 53,540.6 13.5 7.5 16.9
(As on Mar 31, 2015)
Tata Motors Limited

About the Company
Tata Motors Ltd (Tata Motors) was established in 1945 and part of the Tata Group. It is a global Top 500 Ranking
automobile manufacturer with a portfolio that covers a wide range of cars, sports vehicles, buses, Income 28
trucks and defence vehicles. It mainly operates in two business segments commercial and passenger
vehicles. Commercial segment portfolio covers trucks from sub-tonne to 49-tonne mass movers, Net Profit 500
and passenger transporters that range from 5-seater mini vans to 81-seater buses. In passenger Networth 95
vehicles segment it offers compact cars, mid-sized sedans, SUVs, hatchbacks and crossover cars.
Tata Motors market its vehicles under various brands such as Nano, Indica, Indigo, Bolt, Safari, Land Address
Rover, Jaguar, Winger, ACE, Magic and Prima amongst others. The company has manufacturing Bombay House,
facilities at Jharkhand, Maharashtra, UP, Uttarakhand, Gujarat and Karnataka along with operations 24, Homi Mody Street,
in UK, South Korea, Thailand, South Africa and Indonesia through associates and subsidiaries. It also Mumbai - 400001, Maharashtra
deals in buying, selling and exchanging of pre-owned vehicle at Tata Motors Assured authorized Website: www.tatamotors.com
dealer outlets. The company has its R&D, design and manufacturing facilities located in more than
20 sites across Asia, Africa and Europe.

381,761.5 (43,352.0) 66,246.2 2,401.8 0.6 (11.4) (65.4)
(As on Mar 31, 2015)

Ashok Leyland Limited
About the Company
Ashok Leyland Ltd (Ashok Leyland), a flagship company of the Hinduja group, was established in Top 500 Ranking
1948 as Ashok Motors in collaboration with Austin Motor Company. In 1955, it acquired its present Income 64
name with equity participation from Leyland Motors Ltd. Ashok Leyland primarily manufactures
commercial vehicles under two segments namely MHCV and LCV segment. It manufactures trucks, Net Profit 203
buses, light vehicles, defence vehicles and power solutions. During FY15, the company sold 66,442 Networth 135
M&HCVs in the domestic market, which included 13,151 M&HCV buses and 53,291 M&HCV trucks.
In FY15, the company divested its stake in Avia Ashok Leyland Motors s.r.o. and in Ashok Leyland Address
Wind Energy Ltd. During the year, Ashok Leyland received a contract for buses worth US$ 82 mn 1, Sardar Patel Road,
from Senegal and a contract for 3,600 vehicles worth US$ 200 mn from Govt of Cote DIvoire. In Guindy,
Jan 2016, the company received order valued at US$ 50 mn for 680 vehicles and spare parts from Chennai - 600032, TN
Ministry of Local Government, Public Works and National Housing, Govt of Republic of Zimbabwe. Website: www.ashokleyland.com

136,866.5 2,338.8 36,733.6 11,889.8 8.7 1.7 6.4
(As on Mar 31, 2015)
Escorts Limited
About the Company
Escorts Ltd (Escorts), the flagship company of the Escorts Group, was incorporated in 1944 as Escorts Top 500 Ranking
(Agents) Ltd. In 1953, it merged with Escorts (Agriculture and Machines) Ltd to form Escorts Agents Income 194
Pvt Ltd. It eventually acquired its present name in 1960. Escorts is engaged in the manufacture of
agri machinery, auto products, railway products and construction equipment. The product portfolio Net Profit 293
of agri machinery division includes tractors, engines, gensets, lubricants and crop solutions. The Networth 218
auto products division manufactures shock absorbers, telescopic front forks, Mcpherson struts,
steering components and special dampers. Railway products includes locomotives, wagons, EMUs, Address
coaches and metro, while the construction equipment portfolio includes cranes, loaders, forklifts, 15/5,
compactors. It operates eight manufacturing plants in India and one in Europe. In FY15, Escorts Mathura Road,
launched the ALT - Anti Lift Tractor Series under the Powertrac brand, 4WD (4 Wheel Drive) under Faridabad - 121003, Haryana
the Farmtrac brand, and FT 6050 4WD among others. Website: www.escortsgroup.com

40,464.8 1,053.4 17,080.9 1,836.6 4.5 2.6 6.2
(As on Mar 31, 2015)
Force Motors Limited

About the Company
Force Motors Ltd (Force Motors) was incorporated in 1958. Force Motors is a fully, vertically Top 500 Ranking
integrated automobile company, with expertise in design, development and manufacture of the Income 275
full spectrum of automotive components, aggregates and vehicles. Its product range includes
small commercial vehicles, multi-utility Vvehicles (MUV), light commercial vehicles (LCV), sports Net Profit 299
utility vehicles (SUV) and agricultural tractors. Some of the key brands are Force Gurkha, Force Networth 271
One, Trax Cruiser, Traveller 26, Trump 40 Hi-Deck, Traveller Shaktiman and Balwan among others.
It has partnered with leading global automotive names like Daimler, ZF, Ricardo, Bosch and MAN to Address
develop necessary expertise in-house for design, development and manufacture of automobiles, Mumbai-Pune Road,
sub-systems, components and aggregates. The company exports its complete range of world class Akurdi,
products to various countries in Middle East, Asia, Latin America and Africa. During FY15, number of Pune - 411035, Maharashtra
vehicles sold stood at 29,366. The company also entered into a contract with BMW India, to supply Website: www.forcemotors.com
engines for their Indian operations. The companys tractor sales improved by 28% in FY15.

24,295.0 1,013.6 12,383.7 2,122.1 8.7 4.2 8.2
(As on Mar 31, 2015)

SML Isuzu Limited
About the Company
SML Isuzu Ltd (SML Isuzu) was incorporated in 1983 as Swaraj Vehicles Ltd. In 1984, the company Top 500 Ranking
was renamed as Swaraj Mazda Ltd subsequent to JV and technical assistance agreement between Income 455
Punjab Tractor Ltd, Mazda Motor Corporation, Japan and Sumitomo Corporation, Japan. In 2006
the company entered into a technical assistance with Isuzu Motors and subsequently in 2011 the Net Profit 394
company acquired its present name. The company is promoted by Sumitomo Corporation with Networth 460
44% stake. SML Isuzu is primarily engaged in manufacturing of commercial vehicles and spares.
The company manufactures commercial vehicles such as trucks, buses and special vehicles. Super, Address
Samrat, Satraj, Cosmo, Supreme, Prestige, and Samrat 21 are amongst the major brands under SML Village Asron,
and IS12TE is the brand under ISUZU. Special vehicles like tipper, tanker, dumper placer, refrigerated Distt. Nawanshahr - 160034, Punjab
van, troop carrier, dual cab truck and recovery van are also branded under SML. SML Isuzu has a Website: www.smlisuzu.com
manufacturing facility located at Punjab. During FY15, the company sold 11,759 vehicles including
trucks, buses and special vehicles.

11,143.4 369.4 2,951.8 736.2 6.6 3.3 12.5
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Banks
Banks
Comparative Matrix
Sector Total Income Net Profit Net Worth Net NPA

Company Name NIM (%)
TI Rank ` Mn ` Mn ` Mn Ratio (%)
1 State Bank of India 1,749,729.6 131,015.7 1,284,382.2 3.2 2.1
2 ICICI Bank Limited 612,672.7 111,753.5 804,293.6 3.5 1.4
3 HDFC Bank Limited 574,662.5 102,159.2 620,094.2 4.4 0.3
4 Punjab National Bank 522,060.9 30,615.8 376,919.7 3.2 4.1
5 Canara Bank 483,002.9 27,026.2 264,533.9 2.3 2.7
6 Bank of India 476,626.1 17,089.2 278,915.9 2.1 3.4
7 Bank of Baroda 473,655.6 33,984.4 388,480.5 2.3 1.9
8 Axis Bank Limited 438,436.5 73,578.2 446,765.1 3.9 0.5
9 Union Bank of India 356,069.6 17,816.4 183,361.8 2.5 2.7
10 IDBI Bank Limited 321,616.2 8,733.9 226,542.5 1.9 2.9
11 Central Bank of India 283,030.1 6,064.5 156,427.5 2.8 3.6
12 Indian Overseas Bank 260,769.3 (4,543.3) 139,344.9 2.1 5.7
13 Syndicate Bank 237,247.5 15,229.3 121,403.0 2.4 1.9
14 Oriental Bank of Commerce 220,827.8 4,970.8 131,574.5 1.1 3.3
15 Allahabad Bank 217,121.3 6,209.0 117,937.2 3.1 4.0
16 UCO Bank 213,625.3 11,378.0 119,392.2 2.4 4.3
17 Corporation Bank 210,389.0 5,842.6 104,844.8 2.1 3.1
18 Andhra Bank 178,684.4 6,384.4 93,512.2 3.0 2.9
19 Indian Bank 172,163.0 10,051.7 125,577.3 2.5 2.5
20 Bank of Maharashtra 136,714.2 4,506.9 70,511.9 2.8 4.2
21 Yes Bank Limited 136,184.7 20,053.6 116,799.9 3.2 0.1
22 Vijaya Bank 131,524.9 4,394.1 59,232.4 1.9 1.9
23 IndusInd Bank Limited 120,958.3 17,937.2 102,535.2 3.7 0.3
24 United Bank of India 119,273.9 2,559.9 52,339.7 2.2 6.2
25 Kotak Mahindra Bank Limited 117,483.2 18,659.8 141,410.9 4.9 0.9
26 Dena Bank 114,848.2 2,654.8 66,754.3 2.3 3.8
27 State Bank of Travancore 105,833.9 3,355.3 52,523.5 1.1 2.0
28 State Bank of Bikaner & Jaipur 99,318.4 7,768.7 60,126.8 3.4 2.5
29 Punjab & Sind Bank 90,173.0 1,213.5 48,116.2 1.8 3.6
30 The Federal Bank Limited 82,977.7 10,057.5 146,837.2 3.3 0.7
31 State Bank of Mysore 77,076.0 4,088.0 43,615.8 3.0 2.2
32 The Jammu and Kashmir Bank Limited 76,551.0 5,086.0 61,100.5 3.8 2.8
33 The Karur Vysya Bank Limited 59,767.2 4,642.8 42,460.3 2.9 0.8
34 The South Indian Bank Limited 57,832.9 3,072.0 34,532.1 1.2 1.0
35 The Karnataka Bank Limited 52,054.2 4,514.5 33,890.6 1.2 2.0
36 City Union Bank Limited 31,138.5 3,950.2 26,955.3 3.4 1.3
37 The Lakshmi Vilas Bank Limited 24,985.6 1,322.9 14,776.9 1.2 1.9
38 DCB Bank Limited 15,881.4 1,911.8 15,371.6 3.7 1.0
39 The Dhanlaxmi Bank Limited* 13,685.4 (2,414.7) 7,238.5 1.0 3.3

State Bank of India
About the Company
State Bank of India (SBI) was founded in 1806, as Bank of Calcutta and subsequently evolved into Top 500 Ranking
SBI in the year 1955. SBI primarily operates in the business segments namely personal banking, Income 5
agricultural banking, international banking and other banking operations. Personal banking business
offers various deposit schemes, personal finance, gold banking and education loan for students. Net Profit 6
Corporate banking business offers corporate loans, export credit, finance projects among others. Networth 3
SBIs international banking operation spans across 191 offices spread across 36 countries and 360
correspondent banks across 110 countries. SBI also has cross selling tie-up arrangements with SBI Address
Life, SBI Cards, SBI Cap Securities and SBI Mutual Fund to offer financial products to customers. The State Bank Bhavan,
bank has a wide network of 16,333 branches, 42,454 ATMs, 2,595 kiosks and 1,849 cash deposit Madame Cama Marg,
machines (CDMs). During FY15, SBI got into a strategic partnership with Amazon and Paypal. SBI Mumbai - 400021, Maharashtra
also introduced various online and digital programs for its businesses which included online facility Website: www.sbi.co.in
for overdraft against fixed deposits, online loan approval and contact-less cards.

Total Income Net Profit Networth Total Business NIM ROA Net NPA Ratio
1,749,729.6 131,015.7 1,284,382.2 28,768,196.4 3.2 0.7 2.1
(As on Mar 31, 2015)
ICICI Bank Limited

About the Company
ICICI Bank Ltd (ICICI Bank) was promoted in 1994 by ICICI Ltd. ICICI Bank provides personal, private, Top 500 Ranking
NRI, and corporate banking services. Personal banking offers services like savings account, current Income 9
account, fixed deposits etc. It also provides insurance facilities such as life insurance, car insurance
and health insurance among others. Corporate banking offers cash management services, merchant Net Profit 8
banking, global trade, forex and custodial services. NRI banking provides services such as NRE, NRO, Networth 5
RFC and FCNR accounts amongst others. During FY15, the bank launched a twitter application
which enables customers to transfer funds while they are on twitter. It also launched a digital bank Address
called Pockets which allows instant transfer of funds to any e-mail id, mobile number, friends on Landmark,
Facebook and bank account. ICICI Banks new branch in China marks a significant milestone for the Race Course Circle,
banks international operations. It also announced the launch of voice recognition service which Alkapuri Vadodara - 390007, Gujarat
authenticates customers based on their speech patterns. The bank launched a new remittance Website: www.icicibank.com
channel called Call2Remit. It also commenced banking services on Twitter; launched iLoan mobile
app during FY15.

612,672.7 111,753.5 804,293.6 7,490,848.0 3.5 1.9 1.4
(As on Mar 31, 2015)
HDFC Bank Limited

About the Company
HDFC Bank Ltd (HDFC Bank) was incorporated in Aug 1994, as a private sector bank and commenced Top 500 Ranking
its operations as a scheduled commercial bank in 1995. The banks business segments include Income 14
personal banking, NRI banking, wholesale banking, retail banking and treasury operations amongst
others. During FY15, HDFC bank undertook various initiatives such as it launched two new credit Net Profit 9
cards Money back, AllMiles; the bank also initiated its own wallet PayZapp; Under digital banking, Networth 8
it started a new initiative called Bank Aap ki Muththi Mein for virtual transformation of smart
phone banking into a branch banking; introduced an exclusive ForexPlus card for Hajj and Umrah Address
pilgrims for their money management convenience. As of Dec 31, 2015, the bank had its distribution Kamala Mills Compound,
network of 4,014 branched in 2,464 cities, along with 11,766 ATMs spread across India. The bank Senapati Bapat Marg,
is also in process of launching LAS Loan Against Securities account, this will enable customers to Lower Parel (W)
pledge their securities and create own loan limits. International operations of the bank are at three Mumbai - 400013, Maharashtra,
locations: Bahrain, Hong Kong and Dubai (opened in FY15). Website: www.hdfcbank.com

574,662.5 102,159.2 620,094.2 8,162,906.7 4.4 2.0 0.3
(As on Mar 31, 2015)

Punjab National Bank
About the Company
Punjab National Bank (PNB) commenced its operations in 1895, and was nationalized in 1969. Top 500 Ranking
In 1993, New Bank of India was merged with PNB and further in 2003, Nedungadi Bank Ltd was Income 15
amalgamated with the bank. The bank primarily offers personal banking, social banking, MSME
banking, agriculture banking, international and NRI banking services. Under personal banking, the Net Profit 30
bank offers savings account, current account, fixed deposits schemes, credit schemes, doorstep Networth 16
banking services etc. Under social banking, the bank provides various services for priority sector
such as schemes for women and weaker section. During FY15, the bank formulated new scheme Address
known as Supply Chain Financing, PNB Nirmat and PNB Sewa. The bank entered into a tie up with 7, Bhikaji Cama Place,
National Small Industries Corporation (NSIC). PNB also signed MoU with Ashok Leyland, Tata Motors, New Delhi - 110607, Delhi
Asia Motors Works, Hindustan Motors, Mahindra & Mahindra, Piaggio, ICM Ltd, Eicher Volvo, Atul Website: www.pnbindia.in
Auto, Bajaj Motors, J S Auto P Ltd. The bank installed 1,408 new ATMs during the year taking the
total ATM network to 8,348 as on Mar 31, 2015.

522,060.9 30,615.8 376,919.7 8,819,130.4 3.2 0.5 4.1
(As on Mar 31, 2015)
Canara Bank
About the Company
Canara Bank (Canara Bank) was incorporated in 1906, as Canara Bank Hindu Permanent Fund and Top 500 Ranking
was nationalized in 1969. The bank provides services to various segments such as personal banking, Income 18
corporate banking, NRI banking, priority banking and MSME banking services. It offers vast product
portfolio like saving & deposit accounts, loan products, mutual funds, insurance services, cards, Net Profit 36
consultancy services, depository services, remittance facilities and agriculture/ rural credit schemes Networth 31
amongst others. The bank has set up 147 hi-tech E-lounges in select branches with facilities like
ATMs, cash deposit kiosk with voice guided system, cheque deposit kiosk, self-printing passbook Address
kiosk, internet banking terminal, online trading terminal and corporate website access. The bank 112,
also launched Canara Bank RuPay Debit Card, Canara Club Card Debit, Canara Elite Debit Card, J C Road,
Canara Bank Platinum Rupay Cards and EMV Chip Cards under debit and credit cards. Online Savings Bengaluru - 560002, Karnataka
Bank and PPF account opening were introduced during FY15. It has a pan India presence with 5727 Website: www.canarabank.com
branches and 9132 ATMs and clientele accounts base of 6.96 crore and also has 7 overseas branches
as on Mar 31, 2015.

483,002.9 27,026.2 264,533.9 8,038,756.2 2.3 0.6 2.7
(As on Mar 31, 2015)
Bank of India
About the Company
Bank of India (BoI) was founded on 7th September, 1906 in Mumbai. The bank was nationalised in Top 500 Ranking
1969. The bank came out with the public issue in 1997, followed by qualified institutions placement Income 19
in 2008. BOI business segments include treasury operations, wholesale banking and retail banking.
It operates in the corporate, retail, MSME, rural, NRI and cards business; where it offers products Net Profit 53
and services like project finance and syndication services, loans & deposit schemes, trade finance, Networth 29
investment products and CASA term insurance among others. In FY15, the bank introduced virtual
cards for e-commerce; PayWave- Tap and go contactless payment systems; self-service kiosks Bar Address
coded passbooks; BoI EasyPay person to person payment solutions; miscall facility to know the C - 5, Star House,
balance of SB/CD/OD accounts; it also introduced Instant Money Transfer Facility (IMTF). As on G Block,
Mar31, 2015 the bank had 6771 ATMs, introduced 246 new branches and 400 e-Galleries. 306 B K C, Bandra (East),
Branch of Future was operationalized during the same period to provide specialised customer Mumbai - 400051, Maharashtra
services. Currently, the bank has 25 branches in foreign countries and 31 representative offices. Website: www.bankofindia.co.in

476,626.1 17,089.2 278,915.9 9,339,321.8 2.1 0.3 3.4
(As on Mar 31, 2015)

Bank of Baroda
About the Company
Bank of Baroda (BoB) was incorporated in 1908, the bank was nationalised by GoI, thereby acquiring Top 500 Ranking
its current name. BoB operates its business through three segment namely treasury, wholesale Income 20
banking and retail banking. Wholesale Banking segment of BoB offers a full range of loan products
and services such as syndicate loans, trade finance products, treasury products, infrastructure loans, Net Profit 28
interest rate swaps to its large and mid-corporate clients. Under treasury segment, BoB covers Networth 15
activities of various markets i.e. foreign exchange, domestic money, investments and derivatives.
Under retail banking segment, the bank provides deposits, loans, and credit & debit cards. The bank Address
has an extensive network of 5,412 branches spanning pan India and has installed additional 1,776 Baroda House,
new ATMs as on Mar 31, 2015. The bank also has international presence with a network of 105 Mandvi,
branch offices in 24 countries. BoB also has tie-ups with 17 domestic business institutions. In FY15, Vadodara - 390006, Gujarat
the bank launched Cash Recyclers, it enables to accept cash as well as dispense cash apart from Website: www.bankofbaroda.com
balance inquiry, mini statement and PIN change facilities. As on Mar 31, 2015, BoB has installed 390
cash recyclers.

473,655.6 33,984.4 388,480.5 10,456,246.6 2.3 0.5 1.9
(As on Mar 31, 2015)
Axis Bank Limited

About the Company
Axis Bank Ltd (Axis Bank) is a private sector bank in India, begun operations in 1994. It was Top 500 Ranking
promoted in 1993, jointly by Unit Trust of India (Unit Trust of India), Life Insurance Corporation of Income 23
India (LIC), General Insurance Corporation of India (GIC), National Insurance Company Ltd., The New
India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Net Profit 14
Company Ltd. The bank offers wide variety of products, services and payment solution such as Networth 11
different types of accounts, different types of cards, loans, forex, investments and insurance among
others. During FY15, Axis Bank has under taken various initiatives to leverage its business network Address
in order to provide wider access for its transaction processing services. The bank also offers advance Trishul, 3rd Floor,
products such as Power Access, which enables corporates and institutions an ease of transaction Law Garden Ellisbridge,
processing with multi-layered security protocols and customized MIS. As on Mar 31 2015, the bank Ahemdabad - 380006, Gujarat
has 2,589 domestic branches and 12,355 ATMs spread across the country. The overseas operations Website: www.axisbank.com
are spread across branches at Singapore, Hong Kong, Dubai, Colombo and Shanghai; representative
offices at Dhaka, Dubai, Abu Dhabi and an overseas subsidiary in London, UK.

438,436.5 73,578.2 446,765.1 6,035,249.7 3.9 1.8 0.5
(As on Mar 31, 2015)
Union Bank of India

About the Company
Union Bank of India (Union Bank) was incorporated in 1919. In 1969, Union Bank was nationalized Top 500 Ranking
and acquired its present name. Union Bank primarily operates in corporate, retail, MSME, NRI and Income 31
agricultural banking. Under personal banking, the bank offers savings & deposit accounts, retail loan
schemes, insurance & investment plans, demat accounts, bill payment services, credit & debit cards Net Profit 52
etc. Under corporate banking, it offers loan syndication, trade financing, non-life insurance plans Networth 44
& e-tax payment services. Union Bank has launched a specially devised micro-loan product known
as Pragati over bio-metric cards. It has tied-up with Shri Kshetra Dharmasthala Rural Development Address
Project (SKDRDP) an NGO for financing of Self Help Group (SHGs). Union Bank entered into an 239,
agreement with CSC e-Governance India Ltd for launching kiosk banking manned by Business Vidhan Bhavan Marg,
Correspondents (BCs) at various places. During FY15, Union Bank launched a new scheme named Nariman Point,
Union Nari Shakti for women entrepreneurs. In the same year, the bank branches were increased by Mumbai - 400021, Maharashtra,
211 and ATMs by 591 thus, taking the total number to 4,078 and 7,020 respectively. Website: www.unionbankofindia.co.in

356,069.6 17,816.4 183,361.8 5,725,244.8 2.5 0.5 2.7
(As on Mar 31, 2015)

IDBI Bank Limited
About the Company
IDBI Bank Ltd (IDBI Bank) was established in 1964 as a Financial Institution by the name of Industrial Top 500 Ranking
Development Bank of India. It acquired its current name in 2008. IDBI Bank has its business segment Income 34
classified under the following namely personal, MSME, corporate, retail, SME, Agri products and
services and NRI amongst others. Some if its product offerings include; preferred banking, savings Net Profit 85
account, flexi current account, corporate payroll account and cards among others. The bank has Networth 37
a tie-up with IDBI Federal Life Insurance Company Ltd and Bajaj Allianz General Insurance Co. Ltd
for distribution of life and non-life insurance products. IDBI Bank, besides its core banking and Address
project finance domain, has an established presence in associated financial sector like capital IDBI Tower,
market, investment banking and mutual fund etc. During FY15, IDBI Bank opened 329 branches WTC Complex,
and 699 ATMs. It also launched mobile app based banking - IDBI GO mobile app and established 13 Cuffe Parade, Colaba,
e-Lounges across India. IDBI Bank also sets up a state-of-the-art Security Operations Centre (SOC) at Mumbai - 400005, Maharashtra
its Datacenter, Belapur, and Navi Mumbai. Website: www.idbi.com

321,616.2 8,733.9 226,542.5 4,682,128.4 1.9 0.3 2.9
(As on Mar 31, 2015)
Central Bank of India

About the Company
Central Bank of India (Central Bank) was established in 1911. Central Bank mainly operates in Top 500 Ranking
treasury, wholesale banking and retail banking segments. The bank provides various deposits and Income 39
credit products including home loans, vehicle loans, SME retail loans, mortgage loans, etc. It offers
various schemes such as Cent Kisan Tatkal Scheme, Cent Solar Light Scheme, and Cent Kisan Credit Net Profit 108
Card among others as part of its agri banking business. The bank provides various schemes such as Networth 50
Cent Mortgage, Cent Doctor, and Cent protsahan scheme among others as part of its MSME banking
business. It also offers cash management services, insurance products, mutual funds, depository Address
services, e-payment, etc. Its overseas operations are spread across six countries including; London Chander Mukhi,
and Leicester (UK), Hong Kong, Shanghai (China) and Manama (Bahrain), a Representative Office at Nariman Point,
Sharjah (UAE). In Nov 2014, Central Bank launched two new schemes namely Cent Home Double Mumbai - 400021, Maharashtra
Plus Scheme and Cent Aspire Deposit Scheme. New deposit products launched include; Canara SB Website: www.centralbankofindia.co.in
Gen-Y, Canara Jeevandhara, and Canara Savings Defence Product among others. During FY15, the
bank expanded its network to 5,641 branches and 7,599 ATMs across the country.

283,030.1 6,064.5 156,427.5 4,440,499.3 2.8 0.2 3.6
(As on Mar 31, 2015)
Indian Overseas Bank

About the Company
Indian Overseas Bank (IOB) was established in 1937, with focus on foreign exchange business and Top 500 Ranking
overseas banking. In 1969, IOB was nationalised. IOB mainly provides personal, corporate, rural, Income 42
NRI banking, mobile and internet banking services. Personal banking products and services offered
by IOB include saving account, current account, term deposit, home loans, depository services etc. Net Profit 495
Under corporate banking, it offers products for MSMEs, IT and ITeS BPO etc. Some corporate banking Networth 56
services offered by the bank include term loans, working capital loans, and loans for professionals
& self-employed etc. Under NRI banking, the bank offers remittance services, NRO, RFC, FCNR etc. Address
Rural banking business offers agri business consultancy services, agricultural term loans & short 763,
term loans etc. The bank also undertakes forex operations and government business of collection of Anna Salai,
taxes etc. As on Mar 31, 2015, IOB has opened 116 new branches, making a total of 3,571 branches. Chennai - 600002, TN
The bank has launched many new products like Subha Gruha Pre approved Home Loans, Subha Website: www.iob.in
Gruha Top Up Loans, Subha Gruha Gen Next Housing Loans and IOB Passion among others.

260,769.3 (4,543.3) 139,344.9 4,178,047.4 2.1 -ve 5.7
(As on Mar 31, 2015)

Syndicate Bank
About the Company
Syndicate Bank (Syndicate) was incorporated in 1925 as Canara Industrial and Banking Syndicate Top 500 Ranking
Ltd. In 1953, Maharashtra Apex Bank Ltd and Southern India Apex Bank Ltd along with other 18 Income 44
banks merged with the bank. In 1963, the name of the bank changed to Syndicate Bank Ltd and in
1969, the bank got nationalised. Syndicate offers a wide range of deposit products, loan products, Net Profit 58
cash management services, RTGS, demat services, Eservices, NRI services, NEFT for electronic fund Networth 61
transfer, insurance and MF services amongst others. The bank offers deposit products like saving
account, current account and term deposit products. Syndicate under its loan segment offers retail Address
loans, agricultural loans, priority sector loans, SME loans and corporate finance. In FY15, Syndicate Post Box No.1,
opened 303 branches taking the total number of branches to 3,552 as on Mar 31 2015. In FY15, the Udupi Dist,
bank launched a new liability product namely, SyndDisha III & IV, Synd Balasakti, Synd SmartGen, Manipal - 576104, Karnataka
Synd SmartSHE and SyndJuniorMillionaire; and asset products namely, Synd Contractor, Synd Website: www.syndicatebank.in
Mahila, Synd Kuteer, SyndHotel and SyndJeweller amongst others.

237,247.5 15,229.3 121,403.0 4,581,079.1 2.4 0.6 1.9
(As on Mar 31, 2015)
Oriental Bank of Commerce

About the Company
Oriental Bank of Commerce (OBC), a GoI undertaking, was established in 1943. In 1945, OBC was Top 500 Ranking
acquired by the Thapar Group. In 1980, OBC got nationalized. Later, Punjab Co-operative Bank Ltd Income 47
and Bari Doaba Bank Ltd were merged with OBC in 1997. In 2004, the Global Trust bank also was
merged with OBC. OBC is engaged in treasury operations, corporate or wholesale banking and retail Net Profit 126
banking operations. Under treasury, the bank undertakes dealing in securities and money market Networth 57
operations. Under corporate or wholesale banking, OBC provides all advances to trusts, partnership
firms, companies and statutory bodies. It also offers various other products and services such as Address
housing loans, education loans, loan to SMEs, savings account and current account among others. Harsha Bhawan,
OBC also provides various facilities to its NRI clients including deposit accounts such as FCNR (B), E Block,
NRE, NRO etc. In FY15, OBC opened 125 branches and 360 ATMs. It launched Platinum RuPay debit Connaught Place,
card and took initiatives such as card to card fund transfer and DTH recharge and mobile top-up New Delhi - 110001, Delhi
through ATM. Website: www.obcindia.co.in

220,827.8 4,970.8 131,574.5 3,492,710.0 1.1 0.2 3.3
(As on Mar 31, 2015)
Allahabad Bank
About the Company
Allahabad Bank (Alhd Bank) was founded on April 24, 1865 by a group of Europeans at Allahabad. Top 500 Ranking
In 1920, it became a part of the P&O Banking Corporation group and was nationalized in 1969. In Income 48
2002, the bank came out with Initial Public Offer (IPO). Alhd Bank operates in treasury, corporate/
wholesale and retail banking business segments. The Bank offers deposit, credit products and Net Profit 107
international banking services. As on Mar 31, 2015, Alhd Bank has 3183 branches with 1283 in Networth 63
rural areas, 716 in semi-urban areas, 654 in urban and 530 in metro. During FY15, the bank has
introduced new services and products like Twelve hour banking services in 33 selected branches Address
across the country and new scheme called All Bank No Frill Savings Bank Account, this account can 2,
be opened with an initial deposit of rupees five only. In FY15, the bank has established 18 financial Netaji Subhas Road,
literacy centres (FLCs) across India. The bank has also launched a new product for opening of savings Kolkata - 700001, WB
bank account with an android based smartphone named All Bank Selfie during the same period. Website: www.allahabadbank.com

217,121.3 6,209.0 117,937.2 3,433,008.9 3.1 0.3 4.0
(As on Mar 31, 2015)

UCO Bank
About the Company
UCO Bank (UCO) was incorporated in 1943 as The United Commercial Bank Ltd and was nationalized Top 500 Ranking
in 1969. In 1985, UCO acquired its present name. It primarily offers personal banking, corporate Income 49
banking, international and rural banking. Personal banking segment of UCO offers services such
as deposits, loans/advances and debit card services. International banking offers NRI banking Net Profit 74
facility, foreign currency loan, finance services to exporters/importers, forex & treasury services Networth 62
and remittances services amongst others. Under rural banking, UCO provides finance to MSME
and agriculture sector and offers schemes like UCO Kisan Tatkal Scheme, UCO Estate Purchase Address
Loan Scheme, Kisan Credit Card and UCO Mahila Utthan amongst others. UCO also provides other 10,
services like PPF Schemes and tax collection services. In FY15, UCO opened 126 branches taking the B.T.M. Sarani,
total count to 3,020 branches as on March 31, 2015. During the year, the bank launched new loan Kolkata - 700001, WB
scheme named UCO Yatra and new savings scheme for minors above 10 years of age named UCO Website: www.ucobank.com
Smart Kids with ATM card and e-banking facility.

213,625.3 11,378.0 119,392.2 3,616,875.7 2.4 0.5 4.3
(As on Mar 31, 2015)
Corporation Bank
About the Company
Corporation Bank (CorpnBank) was established in 1906 as Canara Banking Corporation (Udipi) Top 500 Ranking
Ltd. The bank acquired its present name in 1980, following its nationalisation in the same year. Income 50
CorpnBank primarily operates in personal banking, corporate banking, NRI banking and priority
banking services. Under personal banking, CorpnBank offers savings accounts, deposit schemes, Net Profit 109
loan facilities, remittances, cards, insurance and tax & pension schemes. Under corporate banking, Networth 72
CorpnBank offers working capital financing, term financing, cash management etc. Under priority
banking, CorpnBank offers credit facilities to agriculture and MSME sectors. NRI banking services like Address
saving accounts, term deposits, remittance facilities and loan facilities to NRIs. In FY15, CorpnBank Mangaladevi Temple Road,
has opened 277 new branches and 669 ATMs taking the total count to 2,298 branches and 2,933 P.O.Box 88,
ATMs as on Mar 31 2015. In FY15, CorpnBank launched products namely Corp SaralPlus Savings Pandeshwar,
account, Corp FCNR premium, Corp Club, Corp Privilege and Corp Global Card. CorpnBank also Mangalore - 575001, Karnataka
launched three new variants of Corp Payroll accounts viz. Corp Pay Super, Corp Payroll and Corp Pay Website: www.corpbank.com
Signature during the year.

210,389.0 5,842.6 104,844.8 3,444,118.5 2.1 0.3 3.1
(As on Mar 31, 2015)
Andhra Bank
About the Company
Andhra Bank (Andhra Bank), incorporated in 1923 primarily operates under retail, corporate, NRI, Top 500 Ranking
agriculture and MSME banking segments. Under retail banking, Andhra Bank offers deposit schemes, Income 55
retail loans such as housing, vehicle, education, personal, mortgage loans etc. Under corporate
banking, it offers various products & services such as working capital loans, bill financing, EXIM Net Profit 103
financing, term financing, equipment financing; project appraisal services and loan syndication Networth 78
services among others. NRI banking services include NRE, NRO accounts, remittance facilities etc.
Andhra bank provides loan facilities for agricultural and allied activities including various schemes Address
such as AB Kisan Rakshak, AB Kisan Chakra and AB Kisan Vikas Cards among others. Under MSME, Dr. Pattabhi Bhavan,
the bank provides term finance, open cash credit and composite loan schemes to MSMEs. As on 5-9-11, Saifabad,
Mar 31 2015, Andhra Bank had a wide network of 4,782 Delivery Channels consisting of 2,507 Hyderabad - 500004, Telangana
branches, 8 extension counters, 35 satellite offices and 2,232 ATMs. In FY15, the bank launched Website: www.andhrabank.in
cash recyclers and introduced the facility of scheduling of NEFT payments by the internet banking
customers.

178,684.4 6,384.4 93,512.2 2,809,669.7 3.0 0.4 2.9
(As on Mar 31, 2015)

Indian Bank
About the Company
Indian Bank (Indian Bank) was incorporated in 1907. The bank mainly operates in treasury, corporate Top 500 Ranking
& wholesale banking and retail banking segments. Indian Bank offers a wide array of lending and Income 58
deposit schemes catering to individuals, NRIs, priority sectors, corporates, professionals and
agricultural sector. Other services offered by the bank include RTGS, NEFT, insurance services, phone Net Profit 81
banking, mobile banking and e-payment of direct and indirect taxes amongst others. Indian Bank Networth 59
has tie-ups with UTI AMC, Reliance Capital Asset Management and SBI Funds Management Pvt Ltd
for distribution of MFs. It also has corporate agency agreements with UIIC and LIC for insurance Address
business. In FY15, Indian Bank opened 159 branches and 221 ATMs taking the total count to 2,412 66, Rajaji Salai,
branches and 2,344 ATMs. The bank has overseas branches in Singapore and Colombo including a Chennai - 600001, TN
foreign currency banking unit at Colombo and Jaffna. During FY15, Indian Bank launched IB Delite, a Website: www.indian-bank.com
elite lounge for HNI customers and three hi-tech products namely On line Net Banking facility with
Green PIN, e-purse and IB Smart Remote.

172,163.0 10,051.7 125,577.3 2,950,888.2 2.5 0.5 2.5
(As on Mar 31, 2015)
Bank of Maharashtra
About the Company
Bank of Maharashtra (BoM) was incorporated in 1935 and was nationalized in 1969. In 2005, BoM Top 500 Ranking
ventured into bancassurance and mutual fund distribution business. BoM offers various deposit Income 65
schemes and loan products along with other services such as demat services, RTGS/NEFT, NRI
Services, credit cards and door step banking amongst others. BoM has tie-ups with 25 AMCs for Net Profit 140
selling MF products and has corporate agency agreements with LIC and UIIC to sell life and non- Networth 92
life insurance products. In FY15, BoM launched products such as Mahabank Gold Loan Scheme,
Maha Combo Loan Scheme, Mahabank Top Up Loan Scheme, Maha Secure, Maha Sarvajan Savings Address
Bank Deposit Scheme and MahaMobile amongst others. During the year, BoM launched five new 1501, Lokmangal,
products for MSMEs which includes Maha MSME Project Loan Scheme, Maha MSME Cash Credit Shivajinnagar,
Scheme, Maha MSME Collateral Free Term Loan Scheme, Maha MSME Collateral Free Cash Credit Pune - 411005, Maharashtra
Scheme and Maha MSME Machinery/Equipment Scheme. As on Mar 31 2015, BoM operated with Website: www.bankofmaharashtra.in
a total branch network 1,880 spread over 30 states and 4 union territories.

136,714.2 4,506.9 70,511.9 2,207,180.4 2.8 0.3 4.2
(As on Mar 31, 2015)
Yes Bank Limited

About the Company
Yes Bank Ltd (Yes Bank) was incorporated in 2003 and launched its corporate and business banking Top 500 Ranking
in 2004. Yes Bank carries out its operations through five specialised groups viz. branch banking, Income 66
corporate banking, commercial banking, emerging corporate group and Government relationship
management. Yes Bank provides a range of banking services including working capital finance, Net Profit 46
specialised corporate finance, trade, cash management & transactional services, treasury services, Networth 64
investment banking solutions and liquidity management solutions to name a few. Yes Bank operates
with a wide network of over 630 branches and 1,194 ATMs across 375 cities along with two national Address
operation centres in Mumbai and Gurgaon. In Oct 2015, Yes Bank received approval from RBI to 9th Floor, Nehru Centre,
sponsor MF and to set up AMC and a trustee company as a wholly owned subsidiary and also Discovery of India,
operationalised its IFSC Banking Unit in Gujarat International Finance Tec City. In Dec 2015, the bank Dr A.B. Road,
signed loan agreement with Overseas Private Investment Corporation and Wells Fargo Bank, N.A. Worli, Mumbai - 400018, Maharashtra
totalling US$ 265 mn for supporting financing of MSMEs in India. Website: www.yesbank.in

136,184.7 20,053.6 116,799.9 1,667,256.6 3.2 1.7 0.1
(As on Mar 31, 2015)

Top 500 Ranking
Income 68
Net Profit 142
Vijaya Bank Net Worth 106
KK Sansi, Managing Director & CEO

About the Bank Financial Snapshot (In ` mn)
Vijaya Bank (Vijaya Bank), a GoI undertaking, was established in 1931 in Mangalore, Total Income 131,524.9
Karnataka with an objective to promote banking and entrepreneurship amongst the
farming community of Dakshina Kannada district in the state. During 1963-68, the bank Net Profit 4,394.1
got merged with nine other smaller banks to form a single entity. In 1958, the bank Networth 59,232.4
became a schedule commercial bank and was nationalised in the year 1980. Total Business 2,130,392.1
Business Operation Ratios (%)
Vijaya Bank offers various savings & deposits and loan products under retail banking, NIM 1.9
corporate banking, treasury and international banking. The bank also provides advances ROA 0.3
to infrastructure and agricultural segments, SMEs, weaker sections, SHGs, women and Net NPA Ratio 1.9
minority community. In addition, the bank also provides merchant banking, collection
(As on Mar 31, 2015)
of taxes, cash management, credit & debit cards and money transfer services amongst
others. Vijaya Bank provides depository services and has tie-up arrangements with IDBI Management Details
Capital for providing online trading. As on Mar 31, 2016, the bank had a total business Managing Director & CEO
of ` 2,160 bn. During FY15, the bank opened 246 new branches, thereby taking the KK Sansi
number of branches to 1,863 branches comprising 395 metro, 474 urban, 508 semi- Directors
urban and 486 rural branches. Vijaya Bank has 31 regional offices. The ATM network of G Narayanan
the bank also grew from 1,383 as on Mar 31 2015 to 1,651 as on Mar 31 2016. Vijaya BSR Rao
Bank provides access to over 220,900 ATMs connected under National Financial Switch N Rao Y
across the country. The mobile banking customers of bank grew from 43370 in March S Kumar
2015 to 504,887 by the end of March 2016, registering a robust growth of 1064%. With S Varma
Y Muralikrishna
infusion of ` 2.26 bn by Govt of India supplemented by banks own initiatives, the banks
MB Rao
CRAR under Basel III stands at 12.58% with Tier I+CET at 9.45% and Tier II 3.13%. VVR Sastry
S Raghunath
New Products and Initiatives B Rao
During the year, Vijaya Bank launched several innovative and attractive technology P Vaidyanathan
products such as, V-Online SB, the facility to open online SB account through the banks
website, V-Abacus a facility to open account by giving a missed call and opening of
account through Tab Banking. V-Gyansagar is another unique initiative by Vijaya Bank
to impart financial information to the public as part of financial literacy. Another unique
technology initiative of the bank relates to introduction of V-QuickPay, the next generation
bill payment service where the bill payment is made by scanning of QR code. Keeping
customer convenience at the forefront, an integrated and full-fledged call centre has
been introduced for managing the queries related to all kinds of banking transactions. In Address & Website
order to curtail the asset quality issues, the bank introduced an Initiative, War Room;
under which NPA accounts are being followed vigorously with branches for recovery. 41/2,
M.G. Road,
Financial Inclusion Bengaluru 560001,
Karnataka
In line with the countrys inclusive growth framework, the bank has been actively
Website
pursuing the agenda of Financial Inclusion. The banks initiatives in this direction aim at www.vijayabank.com
financial empowerment and reaching banking services to the rural masses. The bank has
adopted Chandagalu village, Mandya District, Karnataka under digital village program,
where in all the families having mobile have been on-boarded for mobile banking. In
FY16, Vijaya Bank took a lead role in implementing the Pradhan Mantri Jan Dhan Yojana
(PMJDY) scheme. To achieve the goals of financial inclusion under PMJDY, the bank has
been allotted 1,151 Sub Service Areas (SSAs) covering 3,410 villages and 432 wards for
providing banking facilities to unbanked households. The bank provides banking services
to these villages through 289 branches and 827 bank Mitras. As on March 31, 2016,
Vijaya Bank opened around 1.54 mn basic savings bank deposit accounts and mobilised
` 1,583.5 mn deposits. Further, till March 31st 2016, Vijaya Bank enrolled 2.2 mn accounts
under social security schemes namely Pradhan Mantri Jivanjyothi Bima Yojana (PMJBY),
Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana (APY).
38 INDIAS TOP 500 COMPANIES Advertorial

IndusInd Bank Limited
About the Company
IndusInd Bank Ltd (IndusInd) was incorporated in 1994 and in 2000 it became clearing cum Top 500 Ranking
settlement bank for BSE and NSE. IndusInd operates in various business segments viz. retail banking, Income 71
corporate banking, treasury and other banking operations. In retail banking it offers current, saving
accounts, deposits, cards and loan facilities. The corporate banking division provides services Net Profit 51
through various strategic business units comprising corporate banking, investment banking, capital Networth 74
& commodities market, financial institutions group and public sector group. As on Jun 30, 2015,
IndusInd had a network of 811 branches and 1,543 ATMs spread across the country. The bank Address
also has representative offices in London, Dubai and Abu Dhabi. In Jul 2015, IndusInd launched 2401,
internet payment gateway for enabling online acceptance of credit/debit and prepaid cards. In Aug Gen. Thimmayya Road (Cantonment),
2015, IndusInd received approval to set up an International Financial Services Centre in Gujarat Pune - 411001 Maharashtra
International Finance Tec-City to provide bank access to international financial markets. In Sep Website: www.indusind.com
2015, IndusInd launched Onthego social banking which facilitates find transfers through social
media platforms like Twitter and Facebook.

120,958.3 17,937.2 102,535.2 1,429,225.6 3.7 1.9 0.3
(As on Mar 31, 2015)
United Bank of India

About the Company
United Bank of India (United Bank) was formed in 1950 as United Bank of India Ltd with the Top 500 Ranking
amalgamation of four banks namely, Comilla Banking Corporation Ltd, Bengal Central Bank Ltd, Income 75
Camilla Union Bank Ltd and Hooghly Bank Ltd. The Bank was nationalized in 1969. United bank
primarily operates in retail banking, corporate banking, MSME and international banking. The bank Net Profit 197
also undertakes government business activities such as mobilisation of govt deposits, collection of Networth 111
taxes and handling govt funds amongst others. United bank has corporate agency agreement with
Bajaj Allianz and LIC for insurance business. It also has tie-ups with nine AMCs for distribution of Address
mutual fund products. The bank has overseas presence through representative offices at Dhaka in 11, United Tower,
Bangladesh and Yangoan in Myanmar. As on Mar 31 2015, United Bank had a wide network of 2004 Hemanta Basu Sarani,
branches, 1,912 ATMs, four extension counters and 35 regional offices across the country. In Oct Kolkata - 700001, WB
2015, United Bank entered into strategic alliance with Kotak Securities to provide equity broking Website: www.unitedbankofindia.com
services to its customers through U-Connect TRIO.

119,273.9 2,559.9 52,339.7 1,755,806.4 2.2 0.2 6.2
(As on Mar 31, 2015)
Kotak Mahindra Bank Limited

About the Company
Kotak Mahindra Bank Ltd (KMBL) was established in 1985, as Kotak Mahindra Finance Ltd. In 2003, Top 500 Ranking
the bank was converted into commercial bank and acquired its present name. In Apr 2015, ING Vysya Income 77
Bank got merged with KMBL. KMBL has three business units viz. consumer banking, commercial
banking and corporate banking. Under consumer banking, KMBL provides complete retail solutions Net Profit 49
and under commercial banking it offers a range of products to SMEs. The corporate banking division Networth 54
of KMBL offers working capital finance, trade services, export credit, transaction banking, custody
services, and treasury services. As on Mar 31, 2015 the bank had a network of 684 branches and Address
1,273 ATMs covering 379 locations. In Jun 2015, KMBL signed MoU with ING Bank for cross border 27 BKC, C 27,
business across Belgium, Netherlands, Luxembourg, Europe, North America, Asia and Australia. In G Block,
Nov 2015, KMBLs subsidiary, Kotak Mahindra General Insurance Company received IRDA approval Bandra Kurla Complex, Bandra (E),
to commence insurance business. In Feb 2016, KMBL signed share subscription and shareholders Mumbai 400051, Maharashtra
agreement with Airtel M Commerce Services Ltd to acquire its 19.9% equity stake. Website: www.kotak.com

117,483.2 18,659.8 141,410.9 1,410,210.2 4.9 2.0 0.9
(As on Mar 31, 2015)

Dena Bank
About the Company
Dena Bank (Dena Bank) was incorporated in 1938 as Devkaran Nanjee Banking Company Ltd. The Top 500 Ranking
bank was converted into a public limited company in 1939 and was nationalized in 1969. It came Income 78
out with its IPO in 1996. Dena Bank undertakes personal banking, international banking, corporate
banking, priority & SME lending and internet banking operations. Under personal banking, it Net Profit 192
provides deposits and loans schemes like Dena Jeevan SB Account, Dena Maha Tax Bachat Yojana, Networth 94
Dena Niwas Housing Finance Scheme, Dena Consumer Durable Loan etc. The corporate banking
segment provides sector specific schemes to educational institutions, builders & developers, Address
hospitals, hotels & restaurants and entertainment industry. Under international banking, bank offers C-10, G Block,
trade finance services and NRI banking services such as deposit products, loan & overdrafts and Dena Corporate Centre,
remittance facilities. It also offers bancassurance, demat services, mutual funds, utility bill payment BKC, Bandra (E),
and e-smart services etc. As of Mar 31, 2015, Dena Bank operated with a wide network of 1,739 Mumbai - 400051, Maharashtra
branches, 1,357 on site ATMs, 125 off site ATMs and 17 e-Smart customer convenience centers. Website: www.denabank.com

114,848.2 2,654.8 66,754.3 1,948,703.9 2.3 0.2 3.8
(As on Mar 31, 2015)
State Bank of Travancore

About the Company
State Bank of Travancore (SBT) was incorporated in 1945 as Travancore Bank Ltd. In 1960, it was Top 500 Ranking
made an associate of the SBI and a member of the State Bank group and acquired its present name. Income 86
SBT offers various services such as personal banking, NRI banking, corporate banking, MSME and
agriculture banking. Under personal banking, SBT provides various deposit schemes, loan products Net Profit 168
and savings & current accounts. The NRI banking business includes NRI deposit schemes, NRI Networth 110
platinum account and Sukoon NRE current account among others. Under corporate banking, SBT
offers vyapar suvidha loan scheme, rent plus, flexi loan for traders etc. Under agriculture banking, Address
SBT offers agriculture finance, micro finance and welfare measures. As on Mar 31 2015, the bank Poojapura,
had 1,157 branches and 12 extension counters. In FY15, SBT opened 2 specialised MSME branches Thiruvananthapuram - 695012, Kerala
at Muvattupuzha and Kannur taking the total number of specialized MSME branches to 10. As on Website: www.statebankoftravancore.com
Mar 31 2015, SBTs aggregate deposits and gross advances stood at ` 903.3 bn and ` 699.1 bn
respectively.

105,833.9 3,355.3 52,523.5 1,597,975.4 1.1 0.3 2.0
(As on Mar 31, 2015)
State Bank of Bikaner & Jaipur

About the Company
State Bank of Bikaner & Jaipur (SBBJ) traces its roots back to 1943-44, when Bank of Bikaner and Top 500 Ranking
Bank of Jaipur were formed. These two separate entities were incorporated as subsidiaries of SBI in Income 96
1960 and subsequently in 1963, were merged as a single entity under the name of SBBJ. The bank
caters to wide variety of customers by offering a bouquet of services such as personal banking, NRI Net Profit 94
services, international banking, corporate banking, agricultural products, SME services, treasury Networth 104
services and other services such as cross selling, internet banking, NEFT, RTGS and ATM services
among others. As at Mar 31 2015, SBBJs business grew to ` 1,553.9 bn registering a growth of Address
11.6%. In FY15, SBBJ opened 113 branches and 289 ATMs taking the total count to 1,261 branches Tilak Marg,
and 1,843 ATMs as on Mar 31 2015. As on Mar 31 2015, net NPA ratio and capital adequacy ratio of C Scheme,
SBBJ stood at 2.54% and 11.69% respectively. Under PMJDY, bank opened 1.12 mn rural accounts Jaipur - 302005, Rajasthan
and 1.34 mn urban accounts. Website: www.sbbjbank.com

99,318.4 7,768.7 60,126.8 1,537,877.0 3.4 0.8 2.5
(As on Mar 31, 2015)

Punjab & Sind Bank
About the Company
Punjab & Sind Bank (P&SB) was incorporated in 1908 as The Punjab and Sind Bank Ltd. In 1980, Top 500 Ranking
the bank got nationalised and acquired its present name. P&SBs business is primarily divided into Income 101
treasury, retail banking, corporate banking, priority sector banking and other banking services. In
retail banking it provide loans and advances for housing, trade, automobiles, education and personal Net Profit 274
loans. P&SBs corporate banking products include term loans, short-term loans, cash and export Networth 118
credit, bill discounting and working capital finance. The bank undertakes international banking
and offers NRI services, export/import services, non-fund business products and forex treasury Address
among others. In FY15, the banks added 260 ATMs and 126 branches to its network. During the Bank House,
same period, it introduced Vridhjan Vishesh Samman Yojna for aging customers. It also introduced 21, Rajendra Place,
PSB Kisan Suvidha Scheme for boosting term lending to agriculture sector. Further, it issued ATM New Delhi - 110008, Delhi
enabled RuPay Kisan Debit Cards to 160,563 KCC holders. Website: www.psbindia.com

90,173.0 1,213.5 48,116.2 1,505,848.9 1.8 0.1 3.6
(As on Mar 31, 2015)
The Federal Bank Limited

About the Company
The Federal Bank Ltd (Federal Bank) was incorporated in 1931 as Travancore Federal Bank Ltd. In Top 500 Ranking
1949, the bank acquired its present name and subsequently in 1970 became a scheduled commercial Income 109
bank. The bank offers personal banking services, NRI banking services, corporate banking, SME
banking and agriculture banking services. Its personal banking offerings include; accounts & Net Profit 80
deposits, loans, cards, insurance & investment; while corporate banking offerings include corporate Networth 53
loans, current accounts, trade finance, e-commerce and internet banking among others. Further,
it offers a wide array of agri and agri-allied loans and Federal RuPay Kisan card under agri business. Address
The bank added 73 branches and 126 ATMs taking the total to 1,247 branches and 1,485 ATMs as Federal Towers,
at March 31, 2015. During FY15, the total business of the bank grew by 18.3%, with deposits and P, B No 103,Alwaye,
advances growing by 18.5% and 18% respectively. During the same period, it tied up with New India Ernakulam - 683101, Kerala
Assurance Co. Ltd for the implementation of Pradhan Mantri Suraksha Bima Yojana. Website: www.federalbank.co.in

82,977.7 10,057.5 146,837.2 1,221,099.8 3.3 1.3 0.7
(As on Mar 31, 2015)
State Bank of Mysore

About the Company
State Bank of Mysore (SB Mysore) was founded in 1913 as Bank of Mysore Ltd under the patronage Top 500 Ranking
of the erstwhile Government of Mysore. In 1960, the bank became an associate of SBI. SB Mysore Income 117
offers various deposits schemes which include Mybank Suraksha Savings Account, Mybank Suraksha
Savings Plus Account, Mybank Suraksha Time Deposit Account; savings account and term deposits Net Profit 152
among others. The bank also provides various advances schemes under personal, commercial & Networth 124
institutional banking, agricultural financing and MSE lending. Under personal banking, it provides
personal loans, mortgage loans, housing loans etc. Under commercial banking, the bank provides Address
various schemes like Traders-Liberalised Trade Finance, Handy Loans Scheme, SBM Paryatan Plus K. G. Road,
among others. In FY15, the banks deposits and advances grew by 6.5% and 4.8% respectively. During Bengaluru 560 009, Karnataka
the same period, SB Mysore opened 71 new branches, taking the total network of branches to 1,015 Website: www.statebankofmysore.co.in
spread across 16 states. Its ATM network stood at 1,327 till Mar 2015. In Nov 2014, it launched a
new smart phone based application STATE BANK ANYWHERE for internet banking access.

77,076.0 4,088.0 43,615.8 1,180,896.3 3.0 0.5 2.2
(As on Mar 31, 2015)

The Jammu and Kashmir Bank Limited
About the Company
The Jammu and Kashmir Bank Ltd (J&K Bank) was incorporated in Oct 1938, and commenced Top 500 Ranking
operations in July 1939. The bank received the status of a scheduled bank in 1971. It conducts Income 119
banking business of the central government like direct tax collection, indirect tax collection and
utility bills collection. J&K Bank operates under four business segments, namely treasury operations, Net Profit 125
corporate/wholesale banking, retail banking and other banking business. It also offers NRI banking, Networth 101
third party services, depository services and merchant acquiring services among others. Some of
its other offerings include; loans, insurance, tax products, savings and deposit schemes, cards and Address
mutual funds among others. It has tie-ups with PnbMetlife India Insurance Company Ltd and Bajaj M A Road,
Allianz for life and non-life insurance products. For remittance services, it has tied up with Western Srinagar - 190001, J&K
Union Financial Services Inc. As on Mar 31, 2015, J&K expanded its network by 40 branches and Website: www.jk bank.net
85 ATMs, taking its total network to 817 branches and 885 ATMs. It has one subsidiary company
namely; JKB Financial Services Limited (JKBFSL).

76,551.0 5,086.0 61,100.5 1,103,420.0 3.8 0.7 2.8
(As on Mar 31, 2015)
The Karur Vysya Bank Limited

About the Company
The Karur Vysya Bank Ltd (KVB) was set up in 1916 in Karur, TN. In 1927, KVBs first branch was Top 500 Ranking
opened at Dindigul, TN. KVB primarily operates in treasury, corporate/wholesale banking and retail Income 137
banking segments. The bank provides services such as personal, corporate, agricultural banking
and services to NRIs and MSME. Under personal banking, the bank provides housing loan, personal Net Profit 135
loan; mutual funds; insurance; saving account and fixed deposits among others. Under corporate Networth 125
banking, KVB provides services like corporate loans, demat account, multicity current account and
general insurance among others. Schemes provided by KVB under agricultural banking include Address
Green Harvester, Green Trac, Green Card/Green Card Plus and KVB Happy Kisan among others. Post Box No.21,
Under MSME, the bank provides products such as KVB MSME Cash, KVB MSME Term Loan, KVB Erode Road,
MSME Vendor Bill Discounting and KVB MSME Standby Term Loan among others. As on Mar 31, Karur - 639002, TN
2015 the bank has a network of 629 branches and 1,645 ATMs. In FY15, KVB launched Mobile POS Website: www.kvb.co.in
and Handheld GPRS POS, Multi-Currency Travel Card and E-passbook among others.

59,767.2 4,642.8 42,460.3 807,992.1 2.9 0.9 0.8
(As on Mar 31, 2015)
The South Indian Bank Limited

About the Company
The South Indian Bank Ltd (SIB) was incorporated as a private sector bank in 1929 in the state of Top 500 Ranking
Kerala. The bank became a scheduled bank in 1946 under the RBI Act. In 1990, the bank entered Income 141
merchant banking business and in 1998, the bank came out with its IPO. SIB operates in personal
banking, NRI banking and business banking segments. Under personal banking, it offers a host Net Profit 182
of products and services including; accounts & deposits, loans, mutual funds, insurance, money Networth 139
transfer and other value added services like demat, NPS, travel card, CMS and online trading
among others. Its business banking portfolio encompass business accounts, domestic finance, Address
international finance, money transfers and other value added services. NRE and NRO accounts, SIB House, Mission Quarters,
money transfers and mutual funds/insurance are some of the offerings under NRI banking. In FY15, T.B. Road,
the bank operated through a network of 822 branches and 1200 ATMs, covering 30 states and UTs. Thrissur 680001, Kerala
It has formed tie-ups with both LIC and Bajaj Allianz General Insurance Company for life insurance Website: www.southindianbank.com
and general insurance respectively.

57,832.9 3,072.0 34,532.1 893,041.2 1.2 0.6 1.0
(As on Mar 31, 2015)

The Karnataka Bank Limited
About the Company
The Karnataka Bank Ltd (Karnataka Bank) was incorporated in 1924 and over a period of time Sringeri Top 500 Ranking
Sharada Bank Ltd, Chitladurg Bank Ltd and Bank of Karnataka merged with the bank. Karnataka Bank Income 158
is engaged in providing personal banking, business banking, internet banking, insurance services,
and money transfer services. Karnataka Banks business banking division provides working capital Net Profit 139
finance, term loans and infrastructure finance whereas its personal banking division provides Networth 140
customized services such as deposits, loans, life insurance and utility bill payments among others.
As on Mar 31 2015, the bank had a wide network of 675 branches. In Aug 2015, the bank launched Address
MUDRA card under PMMY and in Dec 2015, it launched KBL Suraksha, a group personal accident P B No.599,
insurance scheme in association with Universal Sompo. In Feb 2016, the bank introduced technology Mahaveera Circle,
based facility, Online Account Opening which enables online opening of savings, current, fixed and Kankanady,
recurring deposit accounts. In Mar 2016, Karnataka Bank entered into MoU with CNX Corporation Mangaluru - 575002, Karnataka
Ltd for extending storage facilities to farmers. Website: www.karnatakabank.com

52,054.2 4,514.5 33,890.6 776,885.9 1.2 0.9 2.0
(As on Mar 31, 2015)
City Union Bank Limited

About the Company
City Union Bank Ltd (CUB) was incorporated in 1904, as The Kumbakonam Bank Ltd. In 1957, CUB Top 500 Ranking
took over Common Wealth Bank Ltd. In 1965, The City Forward Bank Ltd and The Union Bank Ltd Income 233
were amalgamated with the bank. In 1987, the bank acquired its present name. CUB operates
under business segments namely corporate and wholesale banking, retail banking, treasury and Net Profit 156
other banking operations. The banks product portfolio includes savings account, current account; Networth 162
deposits accounts; NRI banking services; loan services amongst others. CUB also provides facilities
such as ATM services, RTGS, NEFT, demand draft services, nomination facility, financial inclusion, Address
and locker rent etc. Online banking services include online shopping, railway tickets booking, 149, T S R Big Street,
mobile banking, and utility bill payments amongst others. It also offers insurance products such as Kumbakonam - 612001, TN
LIC and National Insurance Co Ltd life and non-life insurance products. During FY15, CUB launched Website: www.cityunionbank.com
Corporate Net Banking with transactional facility. The bank has expanded its branch network by
adding 50 more branches and 121 ATMs across the country as on Mar 31, 2015.

31,138.5 3,950.2 26,955.3 420,404.6 3.4 1.5 1.3
(As on Mar 31, 2015)
The Lakshmi Vilas Bank Limited

About the Company
The Lakshmi Vilas Bank Ltd (LVB) was incorporated in 1926, and obtained the certificate to Top 500 Ranking
commence business in Nov 1926. In August 1958, LVB became a scheduled commercial bank Income 268
signifying capability to operate as a full-fledged commercial bank. LVB offers a wide range of deposit
and loan products and services to small business and corporate clients. It provides savings and Net Profit 264
current account schemes namely Lakshmi Power, Lakshmi Savings Gold, Savings Balance Free and Networth 232
Savings Youth Power among others. The bank also provides NRI services like NRE, NRO and RFC
account facility to their clients. Wealth management services offers product such as life insurance, Address
general insurance, ECGC, mutual funds, portfolio management services, demat services and online Salem Road,
trading service among others. In Feb 2015, LVB launched LVB Crown Services for its HNI clients which Kathaparai,
enables them to avail the exclusive LVB Crown lounge services at select branches, free personal Karur 639006, TN
accident insurance and 25% discount on other facilities. During FY15, the bank has opened 38 new Website: www.lvbank.com
branches and installed 180 ATMs taking the network above 400 branches and 820 ATMs.

24,985.6 1,322.9 14,776.9 383,162.3 1.2 0.6 1.9
(As on Mar 31, 2015)

DCB Bank Limited
About the Company
DCB Bank Ltd (DCB), formerly known as Development Credit Bank Ltd, was formed through the Top 500 Ranking
amalgamation of Ismailia Co-operative Bank Ltd and Masalawala Co-operative Bank Ltd in 1981. In Income 363
1995, DCB was converted into a Scheduled Commercial Bank. DCBs business segments are retail,
micro-SME, SME, mid-corporate, agriculture, commodities, Government, public sector, Indian banks, Net Profit 221
co-operative banks and Non-Banking Finance Companies (NBFC) etc. It has vast product portfolio Networth 228
including deposits, cards, payments & remittances and loans amongst others. As on Mar 31 2015,
DCB has a distribution network of 154 branches across 94 locations and 328 ATMs. The bank has tie- Address
up arrangements with Euronet which enables its customers to access more than 35,000 VISA ATMs 601 & 602 A,
across the world. DCB has tie-up with HDFC Bank and Axis Bank for providing cash management Peninsula Business Park,
facilities to customers at over 500 locations across the country. During FY15, under trade finance Senapati Bapat Marg, Lower Parel,
business, DCB entered into business relationship with Habib Bank in Bangladesh, Sri Lanka and Mumbai - 400013, Maharashtra,
United Kingdom. Under Non-Resident Indian business, the bank increased its tie-up with other Website: www.dcbbank.com
banks in East Africa and Middle-East.

15,881.4 1,911.8 15,371.6 230,741.9 3.7 1.4 1.0
(As on Mar 31, 2015)
The Dhanlaxmi Bank Limited

About the Company
The Dhanlaxmi Bank Ltd (Dhanlaxmi Bank) was incorporated in 1927 at Thrissur, Kerala. The bank Top 500 Ranking
primarily operates into treasury, corporate, wholesale and retail banking business operations. The Income 407
bank also deals in personal banking, NRI banking, SME banking and micro & agri banking business.
Some of its offerings includes loans, depositary services, forex services, cards, insurance, cash Net Profit 493
management services, working capital facilities and trade facilities among others. In FY15, the Networth 352
bank operated a network of 266 branches, 398 ATMs and 12 processing centres. During the same
period, its business grew about 0.8% to ` 205.03 bn, with deposits and advances each growing by Address
2.05% and 1.02% respectively. In FY15, the bank launched Phase 2 of mobile banking which includes P B No 9,
m-Commerce, Bill Payment, Credit Card Payment and Debit Card blocking/Card/ PIN reissuance Dhanlakshmi Building,
requests via Mobile. It also introduced Dhanam Vanitha, which include Sweep in/out facility, Naickanal,
Nominal minimum balance requirement, catering to women. Thrissur - 680001, Kerala
Website: www.dhanbank.com

13,685.4 (2,414.7) 7,238.5 200,515.0 1.0 (1.8) 3.3
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

B att e r i e s
Batteries
Comparative Matrix

Company Name
1 Exide Industries Limited 69,062.2 5,458.7 40,117.9 7.9 13.6
2 Amara Raja Batteries Limited 42,536.3 4,181.4 16,950.5 9.8 24.7
3 HBL Power Systems Limited* 13,466.7 296.6 5,316.3 2.2 5.6

Exide Industries Limited
About the Company
Exide Industries Ltd (Exide) was incorporated in 1947 as Associated Battery Makers (Eastern) Ltd. In Top 500 Ranking
1972, the name was changed to Chloride India Ltd and subsequently in 1995 acquired its present Income 126
name. The company primarily operates through three business segments viz automotive, industrial
and submarine batteries. Some of its brands under the automotive segment include Exide, SF, Net Profit 117
Sonic and Standard Furukawa, while under the industrial segment NDEX, SF, CEIL & POWER SAFE Networth 131
are its prominent brands. The company exports to Middle East, Japan and CIS countries where
its products are sold mainly under brands DYNEX, INDEX, SONIC, CEIL and CHLORIDE. It caters to Address
the infrastructure sector such as railways, telecom, power plants, solar cells and other industrial Exide House,
segments. It also manufactures high-end submarine batteries catering to the defence requirements. 59 E, Chowringhee Road,
The company operates nine factories across WB, Haryana, Maharashtra, TN and Uttarakhand. It has Kolkata - 700020, WB
overseas presence in 39 countries and subsidiaries operating in Sri Lanka, Singapore and UK. In Mar Website: www.exideindustries.com
2016, the company merged its wholly owned subsidiary, Chloride Alloys India Ltd with Chloride
Metals Ltd another wholly owned subsidiary.

69,062.2 5,458.7 40,117.9 9,396.8 13.6 7.9 13.6
(As on Mar 31, 2015)
Amara Raja Batteries Limited

About the Company
Amara Raja Batteries Ltd (Amara Raja) was incorporated in 1985. Amara Raja is engaged in Top 500 Ranking
manufacturings of lead-acid storage batteries for industrial and automotive applications in Income 188
India. Amara Raja business can be classified in two segments: industrial and automotive battery.
The company has a diverse product portfolio which caters to wide-spread customers to various Net Profit 147
segments; telecom, railways, power control and UPS under industrial battery. Amara Raja caters Networth 220
to automobile OEMs, replacement market and private label customers under automotive battery
business. The company also provides installation and commissioning and maintenance services to Address
the customers. The company markets its batteries under various brands namely Power Stack, Power Renigunta - Cuddapah Road,
Sleek, AmaronVolt, Quanta, Amaron and PowerZone. Some of the prestigious alients of Amara Raja Karakambadi,
includes Bharti Infratel, BSNL, Tata Communications, Indian railways, Maruti Suzuki, Honda, M&M, Tirupati - 517520, AP
Hyundai and Daimler Benz amongst others. In FY15, the company commissioned four-wheeler Website: www.amararaja.co.in
automotive battery plant with an installed capacity of 2.25 MUPA at Nunegundlapalle village,
Chittoor district taking the total capacity of four-wheeler automotive plan to 8.25 MUPA.

42,536.3 4,181.4 16,950.5 7,438.5 17.5 9.8 24.7
(As on Mar 31, 2015)
HBL Power Systems Limited

About the Company
HBL Power Systems Ltd (HBL) was incorporated in 1986. HBL initially focused on engineered Top 500 Ranking
products and services. The company gradually diversified its business portfolio from engineering Income 414
products and services to four other segments namely; batteries, power electronics, engineering
solutions and green products. HBL also caters to wider markets such as industrial electronics, Net Profit 409
defense electronics, and railway electronic signaling. Its product range under batteries include; lead Networth 392
acid batteries, nickel cadmium batteries and advance product batteries. Under power electronics, it
offers Thyristor Battery Charger, Battery Monitoring System, Earth Leakage Monitor and UPS. It also Address
offers concrete poles, piles, concrete telecom towers, hollow core slabs and a host of engineering 8-2-601,
solutions such as training simulators and data loggers among others. Its green product division Road No 10,
offers SuVaShYa, a hybrid power generation system that taps into two natural resources sunlight Banjara Hills,
and wind - to generate power. In Mar 2016, the company merged Beaver Engineering & Holdings Hyderabad 500034, Telangana
Private Limited with itself. Website: www.hbl.in

13,466.7 296.6 5,316.3 1,359.9 10.1 2.2 5.6
(As on Mar 31, 2015)

Bearings
Bearings
Comparative Matrix

Company Name
1 SKF India Limited 24,925.3 2,027.7 14,161.7 8.1 14.3
2 FAG Bearings India Limited 16,731.0 1,528.8 11,052.1 9.1 13.8

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
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(As on Mar 31, 2015)

Top 500 Ranking
Income 270
Net Profit 214
SKF India Limited Net Worth 239
Shishir Joshipura, Managing Director
Mr. Joshipuras view

India is one of the few economies expected to deliver growth, while the global outlook remains subdued. Recent initiatives such as the Make in
India program, plans for significant investments in infrastructure development projects across rail and road, and positive policy initiatives such as
opening up reserved economy to the private sector in defence and space have the potential to spur economic development in India and place the
country on a significantly higher growth trajectory. The Make in India initiative offers the policy, direction and changes at ground level to enhance
Indias attractiveness as a preferred location for manufacturing and services. This initiative brings together policy makers and the corporate sector in
defined sectors and industries, and has the potential to make Indian manufacturing synonymous with technical expertise, quality and reliability at
an optimum cost.
In an increasingly competitive market, high levels of productivity and higher asset utilization will strengthen a companys competitive edge. Achieving
this will require a combined approach from end users, OEMS and technology suppliers. SKF Indias customer-centric, complete solutions approach,
coupled with our extensive product and service offering equips us to play a larger role as a preferred partner and offer customer centered solutions. SKF
India has strengthened and expanded its distribution network thereby being closer to the customers which differentiates SKF in the marketplace.
About the Company Financial Snapshot (In ` mn)

SKF India Ltd (SKF India), part of Sweden based SKF group, commenced its operations Total Income 24,925.3
in India in 1923, with a trading division in Kolkata. SKF India Ltd was incorporated in the
year 1961 as a result of collaboration between AB SKF, Associated Bearing Company Net Profit 2,027.7
Ltd and Investment Corporation of India Ltd. The companys first manufacturing plant Networth 14,161.7
was commissioned in Pune in the year 1965. The company serves automotive and EBIDTA 3,601.2
industrial engineered solutions through its technology centric platforms bearings,
Ratios (%)
seals, mechanical maintenance, services like technical support, engineering consultancy
etc. and lubrication systems among others. EBIDTA Margin 14.4
NPM 8.1
SKF India operates in the bearings and related technology platforms which are used in
RONW 14.3
a variety of applications across industries. The company has three manufacturing units
(As on Dec 31, 2014)
located at Pune, Bengaluru and Haridwar. It also operates 12 offices across India; and a
supplier network of over 300 distributors. Management Details
Chairman
SKF in India is also represented by SKF Technologies India Pvt Ltd offering sealing solutions Rakesh Makhija
and large size industrial bearings and Lincoln Helios India Ltd. offering lubrication Managing Director
systems. Shishir Joshipura
Directors
Business Profile H. A. Hattangady
SKF provides solutions through its technology-centric platforms namely bearings and P. M. Telang
units, seals, mechatronics, lubrication systems and services. It caters to various industries P. R. Menon
S. Lemonnier
including automotive, aerospace, railway, renewable energy, medical, and food &
R. Makhija
beverage among others. The key products offered by the company include: S. Joshipura
Bearings, units and housings: The Company provides various ball bearings, roller
bearings, bearing accessories, engineered products such as bearings for extreme
temperatures, bearings with solid oil, hybrid bearings, sensor bearing units among
Address & Website
others; track runner bearings, high/super precision bearings, spherical plain
bearings, bushings and rod ends, bearing units for ball bearing, roller bearing Mahatma Gandhi Memorial Bldg,
and bearing housing. The key user segments for bearings are the industrial and Netaji Subash Road,
automotive sectors. Mumbai 400002,
Maharashtra
Seals: SKF India provides a wide range of seals for automotive and industrial
Website
applications. For industrial applications, the company provides power transmission www.skf.com/in
seals. For automotive applications, the company provides bearing seals, body seals,
driveline seals, engine seals, steering seals, suspension seals and wheel end seals.
Lubrication system: SKF lubrication solutions range from specialized lubricants to
state-of-the-art lubrication systems. The company also offers technical support and

services including lubrication management programmes to help with lubricant selection, planning and monitoring.
Mechatronics: Mechatronics is the science of bringing together mechanics and electronics into new solutions. SKF has developed
a number of applications by combining linear motion, bearings, sealing, lubrication, sensors and electronics competencies.
Services: SKF India provides a wide range of services for both OEM and aftermarket customers for major industries. Services
offered by the company include Asset management, Business consulting, Customer Training, Logistics Services, Lubrication
Services, Mechanical Maintenance and Service Contracts among others.
Manufacturing Units
SKF India Ltd has three manufacturing facilities located at Pune in Maharashtra, Bengaluru in Karnataka and Haridwar in Uttarakhand
as on Mar 31, 2015.
Pune: The Company established its Pune plant in 1965. The products manufactured at the plant primarily cater to automotive
and industrial electrical segment. The company manufactures different types of bearings such as Small Deep Groove Ball Bearing
(DGBB), Medium DGBB TRB, THU, HBU, Thin section BB. The plant is accredited with ISO 9001, ISO 140041 quality and OHSAS
18001 certification. SKF India has installed 1.1 MW Roof Top solar power plant at its Pune location including the factory and
corporate office.
Bengaluru: The Company established its Bengaluru plant in 1989. This plant manufactures a wide range of products like DGBB,
Value Added Solutions such as rocker arm bearing, rocker arm assembly, clutch lifter, cam follower, cylindrical roller, solid oil
ball cage, steering column bearings and one way clutch and customized products and assemblies such as postal rollers, sheave
assemblies, pulley assemblies and roller assemblies. The plant is accredited with TS 16949 / ISO 14000 quality certification. SKF
India has installed 1 MW Roof Top solar power plant at its Bengaluru location.
Haridwar: The Company established its Haridwar based plant in 2010. The products manufactured at the Haridwar plant primarily
caters to two wheeler segment. The company manufactures deep groove ball bearings (DGBB) for the two wheeler segment. The
plant is accredited with ISO 14001 and OSHAS 18001 certifications.
SKF Environmental Care

SKF aims at reducing the environmental impacts of its operations and provides customers with innovative technologies, products
and solutions that offer improved environmental performance. The company has been pro-active in strategizing and creating energy
efficient solutions. In 2013, it launched SustEn initiative, which reduced the CO2 emissions by nearly 7306 tonnes in a year by way of
changing sourcing mix to greener sources, at the same time achieving annualized savings of nearly ` 71.35 mn. The company has also
installed a 1 MW Roof Top solar at its Bangalore location, a 100 Kwp installation on its corporate building in Pune and 1 MW Roof Top
solar at its Pune plant.
Outlook
The parent company AB SKF continues to provide R&D support on technology development which enables SKF India to produce
products of immense benefits across various sectors and provide a competitive advantage in the market.
The Governments Make in India initiative is a pathbreaker that can revolutionise the countrys economy. This initiative has
opened up key sectors including Railways, Defence, Space, Insurance and Aviation to dramatically higher levels of Foreign
Direct Investment. Regulatory policies have been relaxed to facilitate investments and ease of doing business, and bottlenecks
have been removed. This initiative is a strong signal of the governments commitment to enhance manufacturing in the country,
which in turn will benefit SKF India.
Customers increasingly expect their partners to be integrated solutions provider, who can deliver innovative and reliable solutions
which will equip them to win in their markets. SKF India is well placed to deliver high performance and customised solutions as
needed which offer increased reliability and higher energy efficiency.
SKF Indias new corporate office building is now LEED Platinum certified
Advertorial INDIAS TOP 500 COMPANIES 55

FAG Bearings India Limited
About the Company
FAG Bearings India Ltd (FAG Bearings), a Schaeffler group company, was incorporated as Precision Top 500 Ranking
Bearings India Ltd in collaboration with Norma Hoffmann Bearings Corporation, USA in 1962. In Income 354
1986, the name of the company was changed to FAG Precision Bearings Ltd and subsequently
acquired its present name in 1999. FAG Bearings is primarily engaged in manufacturing and Net Profit 242
selling of ball bearings, wheel bearings, cylindrical roller bearings and spherical roller bearings Networth 284
ranging from 35 mm to 320 mm. The product range of the company covers various applications in
automotive, production machinery, power transmission, cement, mining, construction, aerospace, Address
rail technology, paper, steel, machine tools and heavy industry amongst others. FAG Bearings 8th Floor, Nariman Bhavan,
exports products to Europe, US and Asia to international customers like Daimler Chrysler, Volvo, Backbay Reclamation,
Volkswagen, Renault and Voith to name a few. The company operates through its manufacturing 227, Nariman Point,
facilities located in Vadodara, Gujarat. During the year ended Dec 31 2014, the company produced Mumbai - 400021, Maharashtra
around 112.3 mn and sold around 112.7 mn ball and roller bearings. Website: www.schaeffler.co.in

16,731.0 1,528.8 11,052.1 2,826.9 16.9 9.1 13.8
(As on Dec 31, 2014)

Top 500 Ranking
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(As on Mar 31, 2015)

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(As on Mar 31, 2015)

Cement
Cement
Comparative Matrix

Company Name
1 UltraTech Cement Limited 233,079.5 20,147.3 187,840.4 8.6 10.7
2 ACC Limited 120,064.9 13,214.6 82,349.7 11.0 16.0
3 Ambuja Cements Limited 104,071.0 14,963.3 101,030.0 14.4 14.8
4 Century Textiles and Industries Limited 75,793.1 154.9 20,594.8 0.2 0.8
5 Shree Cement Limited 65,914.2 4,617.9 51,932.6 7.0 8.9
6 The India Cements Limited 44,543.9 294.5 32,525.1 0.7 0.9
7 The Ramco Cements Limited 37,317.7 2,423.5 25,274.4 6.5 9.6
8 J.K. Cement Limited 34,085.2 1,569.2 13,605.6 4.6 11.5
9 Birla Corporation Limited 33,658.3 1,882.9 26,062.1 5.6 7.2
10 JK Lakshmi Cement Limited 23,352.6 1,588.5 13,291.2 6.8 12.0
11 OCL India Limited 22,427.2 1,136.9 11,926.4 5.1 9.5
12 HeidelbergCement India Limited # 16,465.0 (5.9) 8,542.9 (0.0) (0.1)
13 Orient Cement Limited 15,529.5 1,947.8 9,636.0 12.5 20.2
14 HIL Limited 11,254.1 701.9 4,288.1 6.2 16.4

UltraTech Cement Limited
About the Company
UltraTech Cement Ltd (UltraTech) was incorporated in 2000, as L&T Cement Ltd. In Nov 2003, the Top 500 Ranking
companys name was changed to UltraTech Chemco Ltd (UCL). In 2004, Aditya Birla Group acquired Income 45
UCL and consequently it acquired its present name. UltraTech manufactures and markets OPC, PPC,
portland blast furnace slag and RMC. The company has an installed capacity of 60.15 MTPA of grey Net Profit 45
cement and 13.6 LMT of white cement and putty. UltraTech Cement has 12 integrated plants, 1 Networth 43
clinkerisation plant, 16 grinding units and 6 bulk terminals across five countries namely; India, UAE,
Bahrain, Bangladesh and Sri Lanka. The company provides a range of products including; ordinary Address
portland cement, portland blast furnace slag cement, portland pozzalana cement, white cement, B Wing, Ahura Centre, 2nd Floor,
ready mix concrete, building products and a host of other building solutions. During FY15, the Mahakali Caves Road,
company upgraded its grinding capacity of 1.4 MTPA. During the same period, it completed the Andheri (East),
acquisition of the Gujarat units of Jaypee Cement Corporation Ltd, having cement capacity of 4.8 Mumbai - 400093, Maharashtra
MTPA, enhancing its total cement production by 8% to 43.9 MMT. Website: www.ultratechcement.com

233,079.5 20,147.3 187,840.4 45,621.7 19.6 8.6 10.7
(As on Mar 31, 2015)
ACC Limited
About the Company
ACC Ltd (ACC) was incorporated in 1936 as The Associated Cement Companies Ltd. In 1993, ACC Top 500 Ranking
commenced commercial manufacturing of RMC at Mumbai. In 2006, the companys subsidiaries Income 73
Damodhar Cement & Slag Ltd, Bargarh Cement Ltd and Tarmac (India) Ltd got merged with the
company and in the same year it acquired its present name. ACC is primarily engaged in manufacture Net Profit 65
of cement and RMC. The various types of cement manufactured by ACC include bulk cement, Networth 82
Portland slag cement, fly-ash based Portland pozzolana cement, OPC 53 grade and OPC 43 grade.
ACC operates 17 cement plants and 47 RMC plants along with three wind farms which include Address
9 MW farm in TN, 7.5 MW in Rajasthan and 2.5 MW in Maharashtra. In CY14, ACC commenced Cement House,
operation of waste heat recovery system at Gagal Cement works. During the year ended Dec 2014, 121, Maharshi Karve Road,
ACC produced 24.24 MMT and sold 24.21 MMT of cement. During the same year, RMC production Mumbai 400020, Maharashtra
and sales volume of ACC stood at 1.97 MCM and 2.12 MCM respectively. Website: www.acclimited.com

120,064.9 13,214.6 82,349.7 17,414.8 14.5 11.0 16.0
(As on Dec 31, 2014)
Ambuja Cements Limited

About the Company
Ambuja Cements Ltd (Ambuja Cements) was incorporated in 1983 as Gujarat Ambuja Cements Ltd Top 500 Ranking
and commenced production through its first cement manufacturing plant at Ambujanagar, Gujarat Income 87
in 1986. In 2006, the global cement major Holcim acquired management control of Ambuja Cements
and in the same year Ambuja Cement Eastern Ltd got amalgamated with the company. Ambuja Net Profit 61
Cements is engaged in manufacturing and trading of cements. The company manufactures potland Networth 77
pozollana cement and ordinary Portland cement. Currently, the company operates with the cement
production capacity of 28.75 MMTPA with five integrated cement manufacturing plants and eight Address
cement grinding units across the country. The company has a significant presence in westrn, eastern P O Ambuja Nagar,
and northern parts of the country and it operates through a wide distribution network of over Taluka Kodinar,
8,700 dealers and 29,000 retailers. During the year ended Dec 2015, Ambuja Cements produced Amreli, Junagadh - 362715, Gujarat
21.53 MMT of cement. During the year, the company completed geocycle platform projects at four Website: www.ambujacement.com
integrated plants to increase co-processing of waste with a total investment of ` 2.4 bn.

104,071.0 14,963.3 101,030.0 23,328.4 22.4 14.4 14.8
(As on Dec 31, 2014)

Century Textiles and Industries Limited
About the Company
Century Textiles and Industries Ltd (Century Tex) was incorporated in 1897. Century Tex has diversified Top 500 Ranking
business and can be classified into three segments: textiles (cotton fabrics, denim cloth, yarn, Income 120
viscose filament yarn & tyre yarn), cement (cement and clinker) and pulp and paper (pulp, writing
and printing paper, tissue paper and multilayer packaging board). Under the textile segment, the Net Profit 441
companys has 100% cotton yarn unit situated in MP, with a capacity of 24,960 spindles. Its denim Networth 198
unit is also situated in MP, with a capacity of 21 mn metres of denim fabric per year. Viscose filament
yarn (VFY), tyrecord and chemicals are manufactured at Kalyan - Maharashtra. Under the cement Address
segment, the company has five plants and one grinding unit, with a total manufacturing capacity of Century Bhavan,
12.8 MT per annum. The companys pulp and paper plant has a rayon grade pulp capacity of 31,320 Dr Annie Besant Road,
tonnes per annum. In FY15, the company commissioned Manikgarh Cement unit II in the cement Worli,
segment and also enhanced a doubling and twisting unit to 150 tons per month in the rayon, tyre Mumbai - 400030, Maharashtra
cord & chemicals segment. Website: www.centurytextind.com

75,793.1 154.9 20,594.8 7,134.3 9.4 0.2 0.8
(As on Mar 31, 2015)
Shree Cement Limited

About the Company
Shree Cement Ltd (Shree Cement) was incorporated in 1979. It is engaged in manufacturing of cement Top 500 Ranking
and power generation. The company markets its cement under the brands Shree JungRodhak, Income 132
Bangur and Rockstrong. The companys cement plants are located at Beawar, Ras, Khushkhera,
Jobner and Suratgarh in Rajasthan; Laksar in Uttarakhand; Aurangabad in Bihar; Panipat in Haryana; Net Profit 137
and Baloda Bazar in Chhattisgarh. In FY15, the company had a cement production capacity of 23.6 Networth 112
MTPA. The company operates power plants in Beawar, Rajasthan with a generation capacity of
597 MW including Waste Heat Recovery Plants (WHRP) of 96 MW. In FY15, the companys cement Address
production stood at 159.22 lac tonnes, growing by 12% over the previous year. During the same Bangur Nagar,
period, the company generated 2987 Mus of power. In FY15, the cement business accounted for Beawar,
nearly 90% of the companys overall revenue. In FY15, the company acquired the 1.5 MT cement Ajmer 305901, Rajasthan
grinding unit at Panipat from Jaiprakash Associates Ltd. In Oct 2015, it commissioned the cement Website: www.shreecement.in
grinding unit of 2.0 MTPA capacity at Bulandshahr in UP.

65,914.2 4,617.9 51,932.6 14,257.0 21.6 7.0 8.9
(As on Jun 30, 2015)
The India Cements Limited

About the Company
The India Cements Ltd (India Cement) was incorporated in 1946 and in 1949, it commissioned its Top 500 Ranking
first cement plant at Sankarnagar, TN. In 1990, the company acquired Coromandel cement plant at Income 180
Cuddapah, AP and in the following year it ventured into shipping business by setting up a shipping
division. The company is primarily engaged in the production of cement and clinker. Additionally, Net Profit 410
the company has ventured into related fields like shipping, captive power and coal mining. Its Networth 144
products are marketed under brands namely Coromandel King, Coromandel Super Power, Sankar
Super Power and Raasi Gold among others. India Cement operates cement factories and grinding Address
units located at Sankarnagar, Dalavoi, Vallur and Sankari in TN; Chilamakur, Yerraguntla in AP and 827,
Vishnupuram, Malkapur in Telangana and Parli Vaijnath in Maharashtra. The company cement Anna Salai,
plants operates with the manufacturing capacity of 15.55 MMTPA. In FY15, India Cement produced Chennai 600002, TN
8.6 MMT of cement and 6.8 MMT of clinker. During the same period, it sold 8.6 MMT of cement Website: www.indiacements.co.in
and 0.5 MMT of clinker.

44,543.9 294.5 32,525.1 5,731.3 12.9 0.7 0.9
(As on Mar 31, 2015)

The Ramco Cements Limited
About the Company
The Ramco Cements Ltd (Ramco), a flagship company of Ramco Group was incorporated in 1961. Top 500 Ranking
Ramco Cements is engaged in manufacturing of cement and power generation from windmills. Income 206
Ramco Cements product portfolio includes RMC and dry mortar mix. Vrious grades of cement
manufactured by Ramco include Ramco Super Fast, Sleeper Grade Cement, Ramco Sulphate Net Profit 200
Resisting Cement and Ramco Cement 43 & 53 grades. The dry mortar division manufactures pre Networth 173
mixed dry mortars viz. plasters, wall putty and tile adhesive. The company has wind farms located in
TN and Karnataka, comprising of 108 wind electric generators operating with an aggregate installed Address
capacity of 125.95 MW. The company has five cement plants located at TN, AP and Karnataka Ramamandiram,
operating with an aggregate installed capacity of 12.5 MMTPA and and four grinding units located Virudhunagar,
at TN, WB and AP operating with an aggregate installed capacity of 4 MMTPA. In FY15, the company Dist. Rajapalayam - 626117, TN
produced 7.7 MMTPA of cement and 44,025 MT of dry mortar. During the year, Ramco generated Website: www.ramcocements.in
210.6 MU of wind energy.

37,317.7 2,423.5 25,274.4 7,957.9 21.3 6.5 9.6
(As on Mar 31, 2015)
J.K. Cement Limited

About the Company
J.K. Cement Ltd (JKCL), an affiliate of J.K. Organisation commenced operations with commercial Top 500 Ranking
production at its first grey cement plant at Nimbahera, Rajasthan in 1975. In 2009, JKCL set up a Income 216
green-field unit in Muddapur, Karnataka. The company is a cement manufacturer with presence
in grey and white cement segments. It manufactures OPC, PPC and PSC cement. JKCL possesses Net Profit 240
grey cement plants across Rajasthan, Karnataka and Haryana operating with a domestic combined Networth 247
capacity of 10.5 MTPA as on Mar 31 2015. Besides, the company operates white cement plants in
Rajasthan, MP and UAE with a combined capacity of 1.2 MTPA. In FY15, the company commissioned Address
a 1.5 MTPA grey cement unit at Mangrol, Rajasthan and 1.5 MTPA grey cement grinding unit at Kamla Tower,
Jhajjar, Haryana. During the year, the company also undertook first phase implementation of a Kanpur 208001, UP
white Cement based wall putty project of 0.2 MMTPA capacity in MP. In FY15, JKCL produced 6.3 Website: www.jkcement.com
MT of grey cement and 0.49 MT of white cement.

34,085.2 1,569.2 13,605.6 5,112.2 15.0 4.6 11.5
(As on Mar 31, 2015)
Birla Corporation Limited

About the Company
Birla Corporation Ltd (Birla Corp), a flagship company of the Birla Group, was incorporated in 1919 Top 500 Ranking
as Birla Jute Manufacturing Company Ltd and acquired its present name in 1998. Birla Corp primarily Income 220
operates under two business segments namely cement and jute. The cement division manufactures
varieties of cement like OPC, PPC, portland slag cement, low heat cement, low alkali Portland Net Profit 223
cement, sulphate resistant cement amongst others and markets them under the brands Samrat, Networth 166
Khajurao and Chetak. The jute division manufactures jute yarn, floor & wall covering, jute carpets,
scrim and carpet backing cloth to anme a few. The company also operates vinoleum division which Address
manufactures vinyl flooring, PVC coated wallpaper, coated fabric and cellular plastic sheet. Birla 3rd & 4th Floor,
Corps plants are located in MP, Rajasthan, WB, UP, Maharashtra and Haryana. During FY15, Birla Birla Building,
Corp manufactured 5.3 MMT of clinker, 7.6 MMT of cement and 33,248 MT of jute. In Feb 2016, 9/1, R N Mukherjee Road,
Birla Corp entered into an agreement to acquire the cement business of Reliance Infrastructure Ltd Kolkata - 700001, WB
for an enterprise value of ` 48 bn. Website: www.birlacorporation.com

33,658.3 1,882.9 26,062.1 4,445.9 13.2 5.6 7.2
(As on Mar 31, 2015)

JK Lakshmi Cement Limited
About the Company
JK Lakshmi Cement Ltd (JK Lakshmi Cement), a part of JK Organisation was incorporated in 1982. Top 500 Ranking
JK Lakshmi Cement is primarily engaged in manufacturing and selling of cement and clinker. JK Income 286
Lakshmi Cement cements come in three variants namely blended cement PPC, 53 Grade OPC
and 43 Grade OPC. JK Lakshmi Cement markets its products under the brands JK Lakshmi Pro+, Net Profit 238
JK Lakshmi, JK Gypgold, JK Lakshmi Power Mix, JK SMARTBLOX and JK Lakshmiplast. JK Lakshmi Networth 255
Cement has its manufacturing plants located at Sirohi in Rajasthan, Gandhinagar in Gujarat, Durg
in Chhattisgarh and Jhajjar in Haryana. The company operates a wide network of 70 80 cement Address
dumps and over 3,800 dealers spread across the states of Rajasthan, Gujarat, Delhi, Haryana, UP, Basantgar, Sirohi,
Punjab, MP, Maharashtra and J&K. In FY15, the company commissioned 1.7 mn tonne capacity at Jaykaypuram - 307019, Rajasthan
Durg, Chattisgarh, which was the first phase of companys cement plant of 2.7 mn tonne capacity. Website: www.jklakshmicement.com
The company is accredited with ISO 9002 and NABL certifications.

23,352.6 1,588.5 13,291.2 3,133.1 13.4 6.8 12.0
(As on Mar 31, 2015)
OCL India Limited

About the Company
OCL India Ltd (OCL India), a flagship company of Dalmia Group was incorporated in 1949 in the Top 500 Ranking
name of Orissa Cement Ltd. In 1996, the company acquired its present name. OCL India operates Income 291
in two segments namely; cement and refractory. OCL India manufactures seven varieties of cement
viz OPC 53 grade, OPC 53-S grade, OPC 43 Grade, PSC, flyash based PPC, SRPC and masonry Net Profit 282
cement. OCL India markets its cement under the brand Konark. In refractory segment, OCL India Networth 279
manufactures various types of refractory products like silica refractories, high alumina refractories,
basic refractories, magnesia carbon bricks, continuous casting refractories, new generation high Address
performance castable and precast blocks, purging and slide gate refractories. The cement and Rajgangpur - 770017, Odisha
refractory plant of OCL India are located in Odisha and WB. As on Mar 31 2015, the companys Website: www.oclindialtd.in
annual installed capacity of cement manufacturing stood at 6.7 MMT, while the refractory business
operates two units with an installed capacity of 1.31 lakh tonnes. In FY15, the company launched a
premium brand Konark DSP, a high strength cement designed for casting.

22,427.2 1,136.9 11,926.4 3,637.7 16.2 5.1 9.5
(As on Mar 31, 2015)
HeidelbergCement India Limited

About the Company
HeidelbergCement India Ltd (HCIL), a Heidelberg Cement group company and a subsidiary of Top 500 Ranking
Cementrum I. B.V., was promoted in 1958 in technical and financial collaboration with Kaisers, US Income 360
as a public ltd company. In 1962, the company commissioned its first dry process cement plant
with a capacity of 0.1 MMTPA at Karnataka. In 1983 the company commenced production of green Net Profit 464
fields cement plant in Damoh, MP and a green field grinding unit in Jhansi, UP in 1989. In 2009, the Networth 320
name of the company was changed from Mysore Cements Ltd to its present name. HCIL is primarily
engaged in manufacturing of cement. HCILs product portfolio includes portland slag cement and Address
portland pozzolana cement marketed under the brand name Mycem. HCIL undertakes its cement 9th Floor, Infinity Tower C,
operations in three locations in the states of Karnataka, MP and UP. The company sold 5.28 mn DLF Cyber City, Phase-II,
tonnes during fifteen months period ending Mar 2015 against 3.20 mn tonnes during twelve Gurgaon 122002, Haryana
months period ending Dec 2013. In Feb 2016, the company commissioned a Waste Heat Recovery Website: www.mycemco.com
based Power Generation Plant at its Narsingarh Plant in Damoh, MP.

16,465.0 (5.9) 8,542.9 3,140.1 19.1 (0.0) (0.1)
(As on Mar 31, 2015)

Orient Cement Limited
About the Company
Orient Cement Ltd (Orient Cement), a part of C.K. Birla Group, was established in the year 1979 and Top 500 Ranking
commenced its operation in the year 1982. The company is primarily engaged in manufacturing and Income 371
sale of cement. Orient Cement manufactures various grades of OPC and PPC cement. The product
portfolio of Orient Cement includes Birla A1 Premium Cement, Birla A1 Premium Cement OPC Net Profit 220
53 Grade and Birla A1 Premium Cement OPC 43 Grade. The company market its cement under Networth 300
the brand Birla A1. The company has manufacturing units across Adilabad, AP and a split cement
grinding unit located in Jalgaon, Maharashtra. Orient Cements annual installed cement capacity Address
stood at 5 MTPA and is has a captive power generation capacity of 50 MW. As on Mar 31 2015, the Unit VIII,
company had a wide network of more than 2,000 dealers. In FY15, it sold 4.1 MMT of cement and Plot No. 7,
achieved the overall plant capacity utilisation of 82%. In Sep 2015, the company started commercial Bhoinagar,
production at its new greenfield integrated cement plant located near Chittapur, Karnataka has an Bhubaneswar 751012, Odisha
installed capacity of 3 MTPA. Website: www.orientcement.com

15,529.5 1,947.8 9,636.0 3,119.4 20.1 12.5 20.2
(As on Mar 31, 2015)
HIL Limited
About the Company
HIL Ltd (HIL), formerly known as Hyderabad Industries Ltd was incorporated in the year 1946. Top 500 Ranking
The company is a part of CK Birla Group. The company is primarily engaged in production and Income 452
distribution of building products and thermal insulation products for refractories along with
generation of wind power. Building products manufactured by HIL include fibre cement sheets, Net Profit 339
aerocon panels, autoclaved aerated cement (AAC) blocks, material handling & processing plant Networth 413
and equipments and advanced polymer products. The company markets its building products
under the brand Aerocon, roofing solutions under brand Charminar and insulation products under Address
the brand name Hysil. HIL Industries operates with 13 manufacturing facilities located across AP, L7 Floor, SLN Terminus,
Telangana, Haryana, Maharashtra, TN, UP, Odisha, Gujarat, Jharkhand and Kerala. The company Survey No. 133,
also operates wind turbine generators in Gujarat, TN and Rajasthan. In FY15, HIL commissioned an Near Botanical Gardens, Gachibowli,
AAC blocks manufacturing facility in Jhajjar, Haryana with an installed capacity of 0.15 MCMPA and Hyderabad - 500032, Telangana
a manufacturing facility for CPVC and UPVC pipes and fittings at Timmapur, Telangana with an initial Website: www.hil.in
capacity of 1,555 MT.

11,254.1 701.9 4,288.1 1,310.9 11.6 6.2 16.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

C hemicals
Chemicals
Comparative Matrix

Company Name
1 BASF India Limited 47,156.6 (960.9) 9,625.6 (2.0) (10.0)
2 Pidilite Industries Limited 44,408.5 5,194.7 20,712.2 11.7 25.1
3 Aarti Industries Limited 28,726.1 1,843.2 9,078.0 6.4 20.3
4 India Glycols Limited* 26,155.1 (33.9) 4,545.3 (0.1) (0.7)
5 Atul Limited 25,709.6 2,174.2 10,155.7 8.5 21.4
6 GHCL Limited 23,857.4 2,104.2 7,694.2 8.8 27.3
7 Gujarat Alkalies and Chemicals Limited 19,970.8 2,278.6 21,366.9 11.4 10.7
8 Linde India Limited 15,021.6 54.0 13,752.3 0.4 0.4
9 Godrej Industries Limited 14,922.6 (508.0) 16,576.1 (3.4) (3.1)
10 Himadri Chemicals & Industries Limited 13,924.6 (144.0) 8,271.4 (1.0) (1.7)
11 Gujarat Fluorochemicals Limited 13,771.6 1,030.0 27,962.2 7.5 3.7
12 Deepak Nitrite Limited 13,292.1 534.4 3,390.8 4.0 15.8
13 DCW Limited 12,563.2 (53.2) 5,528.6 (0.4) (1.0)
14 I G Petrochemicals Limited 11,959.5 300.1 2,387.7 2.5 12.6
15 Sudarshan Chemical Industries Limited 11,113.2 424.1 2,636.6 3.8 16.1
16 Clariant Chemicals (India) Limited 10,596.5 (2,402.7) 13,528.4 (22.7) (17.8)
17 Bodal Chemicals Limited 10,500.3 920.2 1,847.1 8.8 49.8

BASF India Limited
About the Company
BASF India Ltd (BASF India) was incorporated in 1943 as R. A. Cole Pvt Ltd for manufacturing of Top 500 Ranking
expanded polystyrene. BASF India is a part of BASF Societas Europaea. BASF India operates in Income 168
four business segments namely agricultural solutions, performance products, chemicals and
functional materials & solutions. The agricultural solutions business includes agrochemicals like Net Profit 487
insecticides, herbicides, fungicides and specialties. The performance products segment includes Networth 302
performance chemicals, dispersions and pigments, care chemicals, nutrition, health products
and paper chemicals. The functional material & solutions segment comprises of the coatings & Address
construction chemicals, performance materials and process catalyst technologies. The chemical Plot No.C-62,
segment includes intermediates, petrochemicals and monomers. In FY15, BASF India launched two G Block, Bandra Kurla Complex,
new crop protection products namely XELORA and ZAMPRO in the agricultural solutions segment. Bandra (East),
During the year, the company commenced commercial production at new chemical production site Mumbai - 400098, Maharashtra
at Dahej, Gujarat. In May 2015, the company inaugurated new agriculture research station in Pune Website: www.india.basf.com
to undertake global research in crop protection area, with a project cost of around ` 640 mn.

47,156.6 (960.9) 9,625.6 1,721.2 3.6 (2.0) (10.0)
(As on Mar 31, 2015)
Pidilite Industries Limited

About the Company
Pidilite Industries Ltd (Pidilite) was incorporated in 1959 and in 1963, the company commissioned Top 500 Ranking
its first manufacturing plant for pigments and emulsions in Mumbai. It primarily operates under two Income 181
business segments namely consumer & carftsmen products and specialty industrial products. The
consumer & craftsmen products segment includes products like adhesives & sealants, wood finishes Net Profit 122
& paints, art material & stationery, construction chemicals and fabric care products. The industrial Networth 196
products segment covers products such as Industrial adhesives, leather chemicals, industrial resins
and pigment powders amongst others. Some of its brands include; Fevicol, Dr. Fixit, FeviKwik and Address
fevistik among others. In FY15, Pidilite launched Dr. Fixit Blueseal, M-seal PV Meal, Motomax Insta Nariman Point,
Shine and Fevicol Hi-per. It also operates chain of art, craft and hobby stores under the brand name Mumbai - 400021, Maharashtra
Hobby Ideas. In Nov 2015, Pidilite along with its wholly owned subsidiary Fevicol Company Ltd Website: www.pidilite.com
incorporated Wood Coat Pvt Ltd to be engaged in all types of coatings for wood including wood
stains, fillers, primers, wood finish etc.

44,408.5 5,194.7 20,712.2 7,857.7 17.7 11.7 25.1
(As on Mar 31, 2015)
Aarti Industries Limited

About the Company
Aarti Industries Ltd (Aarti) was incorporated in 1984. Aarti is one of the leading supplier to global Top 500 Ranking
manufacturers of dyes, pigments, agrochemicals, pharmaceuticals and rubber chemicals. The Income 243
company is one amongst the largest producers of benzene based basic and intermediate chemicals
in India. Its businesses are reclassified into three segments, speciality chemicals, pharmaceuticals Net Profit 224
and home and personal care chemicals. The company has 19 manufacturing units spread across Networth 309
Gujarat, Maharashtra, MP and UT of Silvassa. The company also has wide spread customer both
domestically and across more than 60 countries with major presence in the USA, Europe, China and Address
Japan. In FY15, exports accounted for more than 50% of the companys total revenues. In Nov 2015, Plot Nos. 801, 801/23,
the company commissioned its full expanded Nitro Chloro Benzene (NCB) capacities, of 75000 MT, GIDC Estate, Phase III,
scaling up activities for NCB capacities from 57000 MT a year back. In Jul 2015, the company merged Vapi - 396195, Gujarat
Gogri & Sons Investments Pvt Ltd, Alchemie Leasing And Financing Pvt Ltd, Anushakti Holdings Ltd Website: www.aartigroup.com
and Anushakti Chemical and Drugs Ltd with itself.

28,726.1 1,843.2 9,078.0 4,489.8 15.6 6.4 20.3
(As on Mar 31, 2015)

India Glycols Limited
About the Company
India Glycols Ltd (Glycols) was incorporated in 1983 as a single mono-ethylene glycol plant. The Top 500 Ranking
company gradually diversified into manufacturing of green technology based bulk, specialty and Income 258
performance chemicals and natural gums, spirits, industrial gases, sugar and nutraceuticals. The
company has been granted One Star Export House status by GoI. The product portfolio of Gylcols Net Profit 466
includes polyethylene glycols, ethoxylates, glycol ethers, acetates, natural gum, extra neutral Networth 407
alcohol, performance chemicals, polysorbates and Indian-made foreign liquor amongst others.
The company caters to industries like agrochemical, automotive, detergents, healthcare & food Address
processing, mining, oil and gas, paper, textile, pharmaceuticals and personal care to name a few. A - 1, Industrial Area,
Glycols also cater to export market servicing to over 40 countries worldwide including South East Bazpur Road,
Asia, Middle East and China. In FY15, the company launched its premium products under the brand Udham Singh Nagar,
name of V2O Vodka in three flavors viz. Orange, Green Apple and Smooth. During the year, Glycols Kashipur - 244713, Uttarakhand
produced 19,195 MT of oxygen, 1,428 MT of nitrogen, 2,864 MT of argon and 36,331 MT of liquid Website: www.indiaglycols.com
carbon di-oxide.

26,155.1 (33.9) 4,545.3 1,105.6 4.2 (0.1) (0.7)
(As on Mar 31, 2015)
Atul Limited
About the Company
Atul Ltd (Atul) was incorporated in 1975. Atul has two reporting segments, namely life science Top 500 Ranking
chemicals and performance and other chemicals. The classification is based under seven Income 263
businesses, namely, aromatics, bulk chemicals and intermediates, colors, crop protection, floras,
pharmaceuticals and intermediates and polymers. Atul is a well-diversified company managing Net Profit 208
complex chemicals processes to cater the needs of varied industries to name some prominent Networth 292
are adhesives, agriculture, automobile, construction, cosmetic, defence, dyestuff, electrical and
electronics, food, paint and coatings, pharmaceutical, soap and detergent, textile etc across the Address
world. It has several production facilities in India: Ankleshwar and Valsad, Gujarat and Tarapur, Atul House,
Maharashtra and subsidiary company with production facility in the UK Bristol. Atul manufacturers G I Patel Marg,
around 920 products and 460 formulations divided into life science chemicals and performance Ahmedabad - 380014, Gujarat
and other chemicals. Some of its prominent brands include; Cyno, Rugo, Lapox, Salix, Polygrip and Website: www.atul.co.in
Coneo among others. In FY15, performance and other chemicals accounted for more than 70% of
the companys overall sales.

25,709.6 2,174.2 10,155.7 3,902.9 15.2 8.5 21.4
(As on Mar 31, 2015)
GHCL Limited
About the Company
GHCL Ltd (GHCL) was incorporated in 1983 as Gujarat Heavy Chemicals Ltd. GHCL primarily operates Top 500 Ranking
in two business segments namely inorganic chemicals and textile. GHCL under its inorganic chemical Income 282
segment manufactures light and dense soda ash which is mainly used in manufacturing of detergent,
soap, glass, sodium salts and dyes. It also manufactures sodium bi-carbonate under two grades Net Profit 211
namely food grade and technical grade. GHCLs textile business manufactures home textile products Networth 342
like bed linen, curtains, made-ups and cotton yarn. GHCL has also diversified into salt business
through its edible salt division which manufactures various variant of salt including refined iodised Address
salt, iodised crystal salt, herbal salt, refined edible salt and iron fortified salt amongst others. The GHCL House,
soda ash, salt works and refinery and textile division located across various locations in Gujarat and Opp. Punjabi Hall,
TN. As on Mar 31, 2015 the annual installed capacity of the company stood at 850,000 MT for soda Navrangpura,
ash, 1.75 lakh of spindles, 72,000 MT for refined salt, 27,000 MT for sodium bicarbonate and 34,000 Ahmedabad - 380009, Gujarat
mtrs for cloth processing. The company markets its soda ash under the brand name LION. Website: www.ghclindia.com

23,857.4 2,104.2 7,694.2 4,856.8 20.4 8.8 27.3
(As on Mar 31, 2015)

Gujarat Alkalies and Chemicals Limited
About the Company
Gujarat Alkalies and Chemicals Ltd (GACL), promoted by the Govt. of Gujarat, was incorporated Top 500 Ranking
in 1973 by Gujarat Industrial Investment Corporation Ltd. The company is primarily engaged in Income 317
manufacturing and trading of chemicals. It manufactures basic chemicals, comprising of around 37
products including caustic soda, chlorine, hydrochloric acid, toluene based chemicals and sodium Net Profit 206
chlorate amongst others. GACL has two chemical manufacturing plants located at Vadodara and Networth 192
Dahej in Gujarat. As on Mar 31 2015, the companys annual installed capacity of manufacturing
caustic soda stood at 0.43 MMT. GACL exports its products to European, West Asian, South East Address
Asian, African, Far and Middle East countries. In FY15, the company produced 1.45 MMT of products P. O. Petrochemicals,
registering a growth of 1.5% y-o-y. During the year, GACL signed an agreement with CSIR Indian Vadodara - 391346, Gujarat
Institute of Chemical Technology for development of environmental friendly technology for the Website: www.gacl.com
manufacturing of hydrazine hydrate. In June 2015, GACL signed JV cum-shareholders agreement
with NALCO to take up 800 TPD caustic soda project and 80-90 MW coal based power plant at
Dahej, Gujarat.

19,970.8 2,278.6 21,366.9 3,219.9 16.1 11.4 10.7
(As on Mar 31, 2015)
Linde India Limited

About the Company
Linde India Ltd (Linde India), a Linde group company, was established in 1935 as Indian Oxygen & Top 500 Ranking
Acetylene Company. The company acquired its present name in the year 2013. Linde India operates Income 380
in two business segments viz. gases & related products and project engineering. The gases and
related products segment of the company offers a wide range of piped, compressed and liquefied Net Profit 458
gases as well as chemicals catering to the needs of several industries like energy, steel, healthcare, Networth 244
chemical processing, environment protection and food processing amongst others. Linde India
also provides medical engineering services of design, supply, installation and commissioning of Address
centralised medical gas pipeline system in hospitals. The project engineering segment is engaged in Oxygen House,
the business of designing, supply, installation and commissioning of air separation units, nitrogen P43 Taratala Road,
plants, adsorption plants, cryogenic equipments and gas distribution systems. The company Kolkata - 700088, WB
operates more than 20 manufacturing facilities and offices across the country. As on Dec 31 2014, Website: www.linde.in
the total third party orders in hand of the project engineering division stood at ` 2.42 bn.

15,021.6 54.0 13,752.3 2,877.9 19.2 0.4 0.4
(As on Dec 31, 2014)
Godrej Industries Limited

About the Company
Godrej Industries Ltd (Godrej Industries) was incorporated in 1988 as Gujarat-Godrej Innovative Top 500 Ranking
Chemicals Ltd. In 2001, the consumer products division was demerged into a separate entity and Income 381
subsequently it acquired its present name. The company alsong with its subsidiaries and associates
is engaged in the businesses of manufacture and marketing of oleo-chemicals, their precursors and Net Profit 481
derivatives, bulk edible oils, estate management and investment activities. Its product portfolio Networth 222
includes fatty alcohols, fatty acids, glycerine, alpha olefin sulphonate, sodium lauryl sulphate,
surfacanta and sodium lauryl ether sulphate amongst few. It also operates in the gourmet food Address
retail business under the brand name Natures Basket. The company operates manufacturing Pirojshanagar,
facilities at Valia, Gujarat; Ambernath and Wadala in Maharashtra. Godrej Industries exports its Eastern Express Highway,
product to over 65 countries including Brazil, Mexico, South Korea, Japan, Russia, China, Belgium, Vikhroli (East),
US and UAE amongst others. In Apr 2014, Wadala Commodities Ltd got amalgamated with the Mumbai - 400079, Maharashtra
company. In FY15, Godrej Industries launched several innovative products under the brands Real Website: www.godrejindustries.com
Good Chicken and Yummiez.

14,922.6 (508.0) 16,576.1 2,575.6 17.3 (3.4) (3.1)
(As on Mar 31, 2015)

Himadri Chemicals & Industries Limited
About the Company
Himadri Chemicals & Industries Ltd (Himadri Chemicals), the flagship company of Himadri Group, Top 500 Ranking
was incorporated in 1987. Himadri Chemical is primarily engaged in manufacturing of coal tar pitch Income 401
of various grades and several other value added by-products which are derived during the distillation
process. The product portfolio includes a wide range of carbon products such as chemical oils, Net Profit 472
naphthalene, carbon black amongst others. The company operates seven manufacturing facilities Networth 325
spread across WB, Gujarat, AP and Chhattisgarh with a combined capacities of 400,000 TPA for
coal tar distillation, 120,000 TPA for carbon black and 68,000 TPA for SNF. Himadri Chemicals also Address
operates two windmills with an installed capacity of producing 2.5 MW of wind energy and two 23A, Netaji Subhas Road,
power plants with a combined installed capacity of 20 MW. The company exports its products to 8th Floor,
countries like Argentina, Singapore, Japan, Indonesia, South Africa, Malaysia, Vietnam, Sri Lanka, Suite No. 15,
Bangladesh, Nigeria, US and UAE amongst others. In FY15, the companys windmills generated Kolkata - 700001, WB
3,081,708 kwh units of wind energy. Website: www.himadri.com

13,924.6 (144.0) 8,271.4 1,116.9 8.0 (1.0) (1.7)
(As on Mar 31, 2015)
Gujarat Fluorochemicals Limited

About the Company
Gujarat Fluorochemicals Ltd (GFL), a subsidiary of Inox Leasing and Finance Ltd, was incorporated Top 500 Ranking
in 1987 and started its operations in 1989. GFL is engaged in manufacturing and trading of Income 405
refrigerant gases, anhydrous hydrochloric acid, caustic soda, chlorine, chloromethanes, poly
tetrafluoroethylene (PTFE), post treated PTFE and carbon credits. The company operates two Net Profit 297
plants located at Ranjitnagar and Dahej in Gujarat. GFL has a capacity to produce 16,200 TPA of Networth 159
PTFE, 108,500 MTPA of chloromethane, 65,000 MTPA of refrigerant gases and 134,750 MTPA of
caustic. It caters to both domestic and international markets. GFL also undertakes wind energy Address
business through its subsidiary Inox Wind Ltd; winf farm energy through Inox renewable Ltd and Survey Number 16/3,
integrated multiplex chain through Inox Leisure Ltd. In FY15, the company produced 10,106 MT of 26 & 27, Ghoghamba,
PTFE, 108,046 MT of caustic, 105,158 MT of chloromethane and 36,513 MT of refrigerant gases. In Panchmahal - 389380, Gujarat
2016, Sarayu Wind Power (Kondapuram) Pvt Ltd and Vinirrmaa Energy Generation Pvt Ltd became Website: www.gfl.co.in
step down subsidiary of GFL.

13,771.6 1,030.0 27,962.2 6,092.5 44.2 7.5 3.7
(As on Mar 31, 2015)
Deepak Nitrite Limited

About the Company
Deepak Nitrite Ltd (Deepak) was incorporated in 1970. Deepak is an integrated producer of Top 500 Ranking
organic, inorganic and fine and speciality chemicals with specialisation in hydrogenation, nitration, Income 417
customised molecule development, hazardous reaction and toluene derivatives. The business
mainly operates into three strategic business segments: bulk commodities and chemicals; Fine Net Profit 365
& Speciality Chemicals; and Fluorescent Whitening Agents (FWA). It offers a wide spectrum of Networth 443
products with diverse applications ranging from agrochemicals, rubber, pharmaceuticals, paper,
textile, detergent, colourants, petro-chemicals to speciality and fine chemicals. Fine and speciality Address
chemicals segment comprises niche products customised as per the clients needs. Fluorescent 9-10, Kunj Society,
whitening agent is an application chemical which caters to end-product industries such as paper, Alkapuri,
detergents and textiles. In FY15, the bulk chemicals and commodities segment accounted for more Vadodara - 390007, Gujarat
than 55% of the companys overall revenue. It operates multiple manufacturing plants across Website: www.deepaknitrite.com
Gujarat, Maharashtra and Telangana. Its overseas operations include; Deepak Nitrite Corporation,
Inc in North Carolina, US and Deepak Gulf LLC in Oman.

13,292.1 534.4 3,390.8 1,345.1 10.1 4.0 15.8
(As on Mar 31, 2015)

DCW Limited
About the Company
DCW Ltd (DCW) was incorporated in 1939 as Dhrangadhra Chemical Works Ltd to take over a soda Top 500 Ranking
ash factory unit in Dhrangadhra, Gujarat. In 1959, the company commissioned its chlor-alkali plant Income 427
at Sahupuram, TN and in 1970 it established an upgraded limenite plant. In 1986, the company
acquired its present name. DCW operates via three divisions viz. caustic soda, PVC and soda ash. Net Profit 468
The products manufactured by DCW include soda ash, caustic soda, liquid chlorine, beneficiated Networth 387
Ilmenite, fermic chloride, hydrochloric acid, PVC resin, utox, trichloroethylene, yellow iron oxide,
ammonium bicarbonate and sodium bicarbonate. The company has its soda ash division located at Address
Gujarat, caustic soda division located at TN and PVC division located at TN. In FY15, the company Dhrangadhra - 363315, Gujarat
completed works for Synthetic Iron Oxide Pigment (SIOP) project at Sahupuram, TN and started Website: www.dcwltd.com
commercial production in May 2015. During the same period, PVC division accounted for over 45%
of companys total sales followed by caustic soda division which accounted for 36.3% and soda ash
division which accounted for 15.6% of total sales of the company.

12,563.2 (53.2) 5,528.6 619.3 4.9 (0.4) (1.0)
(As on Mar 31, 2015)
I G Petrochemicals Limited
About the Company
I G Petrochemicals Ltd (IGPL) was incorporated in the year 1988 and commenced commercial Top 500 Ranking
production in 1992. IGPL is promoted by HP Dhanuka Group through Mysore Petro Chemicals Ltd Income 441
and other group companies in technical collaboration with Lurgi GmbH, Germany. The company is
listed on both NSE and BSE. The company is engaged in production and sale of phthalic anhydride Net Profit 405
(PAN) which found applications in various industries like flexible PVC, plastics, paints, construction, Networth 475
transportation and marine amongst others. IGPL operates through three plants located at Taloja in
Maharashtra which have an installed capacity of producing 169,250 MTPA of PAN. In Nov 2015, the Address
company entered into a JV with Dubai Natural Gas Ltd in UAE through its wholly owned subsidiary; T-10, 3rd Floor,
IGPL FZE for manufacturing Maleic Anhydride with a capacity of 45,000 MTPA. The JV is named as Jairam Complex, Mala,
ENOC - I G Petrochemicals LLC. Neugi Nagar,
Panaji - 403001, Goa
Website: www.igpetro.com

11,959.5 300.1 2,387.7 474.5 4.0 2.5 12.6
(As on Mar 31, 2015)
Sudarshan Chemical Industries Limited

About the Company
Sudarshan Chemical Industries Ltd (SCIL) commenced its business operation of manufacturing Top 500 Ranking
pigments in 1952. The company operates in two business segments namely, pigments and agro Income 456
chemicals. Pigment division of SCIL manufactures a variety of organic pigments, inorganic pigments,
azo pigments, high performance pigments, effect pigments and pigment dispersions primarily Net Profit 380
catering to paint, inks, plastics, cosmetics, coating application, fashion accessories and automobiles Networth 469
industries. The agro chemical business of the company mainly comprises of products which are
generic in nature. SCILs pigments product portfolio includes brands like Sudaperm, Sudafast, Address
Sudacolor, Sumica and Sumicos. Its formulation brands include Sutathion, Sumidon and Quantum. 162,
The companys pigments are exported to international markets such as Europe, America and Asia. Wellesley Road,
SCIL operates manufacturing plants at Roha and Mahad in Raigad with R&D facilities at Ambadvet, Pune - 411001, Maharashtra
Pune. In FY15, SCIL acquired the going concern business of Rathi Vessels and Systems Pvt Ltd on Website: www.sudarshan.com
slump sale basis for ` 25 mn. In Oct 2015, the company received Mega Project status by Govt of
Maharashtra under the Package Scheme of Incentives, 2013.

11,113.2 424.1 2,636.6 1,309.4 11.8 3.8 16.1
(As on Mar 31, 2015)

Clariant Chemicals (India) Limited
About the Company
Clariant Chemicals (India) Ltd (Clariant) is engaged in manufacturing and selling of specialty Top 500 Ranking
chemicals. The company operates in two business segments viz. Pigment and colors; and dyes and Income 475
speciality chemicals. Clariant provides organic pigments, pigment preparations and dyes used in
coatings, paints, printing, plastics and other specialty applications. The dyes and specialty chemicals Net Profit 492
manufactured by Clariant includes dyestuffs, synthetic resins, binder materials, functional effects Networth 250
and coatings, auxiliaries and chemicals, comprising of specialty chemicals, emulsions and dyes for
the textile, leather and paper industry; performance chemicals for personal care and industrial Address
applications and oil and mining services. The company has its manufacturing sites located in Village Elthan,
the states of Maharashtra, TN and Gujarat. During the year ended Dec 2014, Clariant acquired Off Thane Belapur Road,
masterbatches business including manufacturing set up at Nandesari, Rania and Kalol in Gujarat Airoli,
from Plastichemix Industries for a consideration of ` 1.31 bn. In Mar 2015, Clariant acquired the Navi Mumbai - 400708, Maharashtra
carbon black business from Lanxess India Pvt Ltd, comprising of the carbon black dispersion plant Website: www.clariant.in
located at Nagda, MP for a consideration of ` 135 mn.

10,596.5 (2,402.7) 13,528.4 12,217.8 115.3 (22.7) (17.8)
(As on Dec 31, 2014)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 479
Net Profit 307
Bodal Chemicals Limited Net Worth 490
Suresh J. Patel , Chairman & Managing Director
Mr. Patels views

Our ears were used to hear terms MADE IN CHINA, MADE IN JAPAN, MADE IN GERMENY etc. But the issue was never before raised in the
direction why not MADE IN INDIA? It is our Honble Prime Minister Shri Narendra Modi of India and former Chief Minister of Gujarat State, who
has conveyed this message with three simple words MAKE IN INDIA. We at Bodal Chemicals with the same thought process Contributed in the
development saga of Gujarat and nation by commencing the production facility of Vinyl Suplhone (Dyes-Intermediate)having the installed facility of
only 60 MTPM. But it was just beginning and Bodal Chemicals is on a mission of adding colours to the human life and willing to take on the world of
colours with its quality offerings.
Since the beginning of journey, Bodal Chemicals has never looked back and enhanced its operations through backward and forward integration.
From humble honest beginning as a partnership firm, Bodal Chemicals is now a BSE, NSE listed company. As on today Bodal Chemicals has secured
its remarkable place in the global dyestuff industry. Out of total sales, about 40% is from exports to more than 35 countries across the world covering
USA, UK, Germany, Spain, Turkey, China, Indonesia, Taiwan, South Korea, Greece, Egypt, Portugal, Hong Kong, Italy, Bangladesh, Pakistan etc.
In spite of acclaimed success, Bodal Chemicals adheres to the same values that it did 27 years ago; of clean ethical business practices, continuous
innovation, technology upgrades, consistent learning, selfless environmental concerns, and all this while keeping the customer and his needs at the
centre of all that we do.
Background Financial Snapshot (In ` mn)

Bodal Chemicals Ltd (Bodal Chemicals), formerly known as JK Pharma, began operations Total Income 10,500.3
in 1989. Since inception, the company has been engaged in the manufacturing and
supply of dyes and dyes intermediates. Bodal Chemicals is f the most integrated dyestuff Net Profit 920.2
company in India. Quality control practices and procedures, modern manufacturing Networth 1,847.1
facilities and experienced management has enabled the company to offer internationally EBIDTA 1,876.4
recognized quality products. Today Bodal is an internationally acclaimed manufacturer
Ratios (%)
and supplier of dye & dye intermediaries. Currently, Bodal produces 25 major dye
intermediates, 150 variants in dyestuffs and 10 basic chemicals. EBIDTA Margin 17.9
NPM 8.8
Business Operations
RONW 49.8
Bodal Chemicals is one of the leading manufacturers and exporters in the dyes and dye (As on Mar 31, 2015)
intermediates industry. Its core business is manufacturing of dyestuffs, dyes intermediates
and other chemicals falling under the broad category of chemicals. Management Details
Chairman & Managing Director
It has a unique and integrated product line covering forward and backward integration Suresh J. Patel
to manufacture dye intermediates. Its final product i.e. dyestuff is further used in textile, Executive Directors
leather and paper industry. The company has a total eight separate manufacturing units Bhavin S. Patel
located in Gujarat. Ankit S. Patel
Due to backward Integration from dyestuff division, the company uses about 60% of
its own raw materials when it produces dyestuff and dye intermediates. Out of the
total sales about 40% is exported and the balance products are sold in the domestic
markets.
The broader areas of operation of the company are: Address & Website
Plot No.123 - 124,
1. Dyes Phase - 1,
GIDC, Vatva,
Bodal Chemicals is a leading manufacturer of reactive, acid and direct dyes. It has Ahmedabad - 382445,
a manufacturing capacity of more than 150 different products of dyes to cater to Gujarat
textile, leather and paper industry. Website
2. Dye Intermediates www.bodal.com
It is the largest manufacturer of dye intermediates in India and amongst the

leading manufacturers globally. The company manufactures more than 25 dyes
intermediates and these are directly sold as well as consumed for manufacturing
different kinds of dyes.

3. Other/Basic Chemicals
The company is also a manufacturer of other chemicals like sulphuric acid, CSA, oleums, beta napthol, acetanilide etc. These
chemicals are used as key raw materials for production of dye intermediates, which is highly beneficial in terms of improving
profitability of the company.
Recent Developments
Bodal Group always strives for betterment of human lives. Bodal group is working on new project which focuses on the enhancement
of quality of human Life. Bodal Group is bringing this project under the name M/s Trion Chemicals Pvt Ltd. Trion Chemicals is coming up
with a specialty chemical product mainly used for water treatment. Water is the only thing which has the highest priority in the human
lives. This project is under construction and is expected to commence production by August 2016. It will be zero discharge plant and
will reuse the water after treating it with advanced technology effluent treatment with recovery plant. Thus, this project will be 100%
eco-friendly in true terms. This new project after completion will have the potential to generate revenue of about ` 2.4 bn.
Bodal has also commenced the new project of LABSA (Raw Material for Detergent & Soap) through its subsidiary Bodal Agrotech Ltd.
This project has the total production capacity of 1,500 MTPM. LABSA project has the potential of achieving turnover of ` 100-120 Cr.
Commencement of Multi Effect Evaporator (Mee) Plant

The company commenced the multi effect evaporator plant at Unit VII, Dudhwada, Vadodara. Normally at the end of manufacturing
process there remains effluent water and the same cannot be disposed without proper treatment. For the said purpose, the company
has installed the MEE plant which is a modern and advanced technology plant for treating the waste water. It not only treats the effluent
water but also recovers salt, which can either be used for captive consumption or sold in the market. So by using this technology, Bodal
Chemicals can save related treatment costs to some extent.
The key highlights for the year 2014-15 are as follows:
The company has achieved its highest ever Total Revenue from the operations, it increased by 8.94%
EBIDTA of the company stood at ` 1.9 bn.
Profit after tax increased by 200.18%
EPS of the Company stood at ` 8.43 as against ` 2.81 for the previous year
Company reduced its borrowing cost by 42% compared to F.Y. 2013-2014

C igarettes
Cigarettes
Comparative Matrix

Company Name
1 ITC Limited 380,505.3 96,077.3 302,532.8 25.2 31.8
2 Godfrey Phillips India Limited 26,192.1 1,830.8 12,872.4 7.0 14.2

ITC Limited
About the Company
ITC Ltd (ITC) was incorporated in 1910 as Imperial Tobacco Company of India Ltd. In 1970, the name Top 500 Ranking
of company was changed to India Tobacco Company Ltd and subsequently in 2001 the company Income 29
acquired its present name. ITC is engaged in diversified businesses encompassing FMCG, hotels,
paperboard & speciality papers, packaging, agri business and information technology. ITC FMCG Net Profit 11
segment includes cigarettes, packaged foods, lifestyle retailing, education and stationary products Networth 27
amongst others. Some of its prominent brands in this segment include; Aashirvaad, Sunfeast Dark
Fantasy, Sunfeast Dream Cream, Sunfeast Delishus, Sunfeast Bounce, Bingo!, Yumitos, YiPPee!, Address
Candyman, mint-o and GumOn among others. Some brands under personal care segment include; Virginia House,
Engage, Fiama Di Wills, Vivel, and Superia. The companys paperboards & speciality papers 37, Jawaharlal Nehru Road,
division operates through its four manufacturing facilities. ITC operates and manages more than Kolkata - 700071, WB
100 hotels across 70 locations in India operating under four brands namely ITC Hotel, WelcomHotel, Website: www.itcportal.com
Fortune Hotels and WelcomHeritage. The company operates in the IT segment through ITC Infotech,
which operates offices in 18 countries and has established 10 development centres.

380,505.3 96,077.3 302,532.8 149,946.7 39.4 25.2 31.8
(As on Mar 31, 2015)
Godfrey Phillips India Limited

About the Company
Godfrey Phillips India Ltd (Godfrey), a flagship company of K K Modi Group is amongst the leading Top 500 Ranking
cigarette manufacturing companies in India. The company is also involved in the business of tea, Income 257
pan masala, chewing and confectionary products. Godfrey has a renowned cigarette brands under
its portfolio including Four Square, Red and White, Cavanders, Marlboro, Hawk Eye, Tipper and Net Profit 227
North Pole. The company along with subsidiary, International Tobacco Company Ltd operates seven Networth 263
manufacturing plants located in the states of Maharashtra, Uttarakhand, WB, Haryana and UP. The
company distributes its products through an extensive network comprising of over 600 exclusive Address
distributors and 800,000 retail outlets. Godfrey exports its own cigarette brands, cut and blended Macropolo Building, Ground Floor,
tobacco, tobacco leaf and offer technical services and contract manufacturing for companies from Next to Kala Chowky Post Office,
the Middle East, Africa, Asia, Europe, Australia and Latin America. Its international business division Dr. Babasaheb Ambedkar Road, Lalbaug,
also exports bulk and specialty teas to Germany, US, Japan, UAE, Kazakhstan and Iran. During the Mumbai - 400033, Maharashtra
year, the company launched Raag Gold Pan Masala and Raagaa Gold Zarda in Nepal. Website: www.godfreyphillips.com

26,192.1 1,830.8 12,872.4 3,877.8 14.8 7.0 14.2
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

C oal & C oal P roducts
Coal & Coal Products
Comparative Matrix

Company Name
1 Coal india Limited 145,305.2 133,833.9 167,147.3 92.1 80.1
2 Gujarat Mineral Development Corporation Limited 15,628.8 3,911.7 32,400.7 25.0 12.1

Coal India Limited
About the Company
Coal India Ltd (CIL) was incorporated in June 1973 in the name of Coal Mines Authority Ltd and Top 500 Ranking
acquired its present name in 1975. CIL was granted the Maharatna status in Apr 2011 by GoI. It Income 62
is primarily engaged in the mining of coal. CIL carries out its coal production operations through
seven wholly-owned subsidiaries in India. CILs product portfolio comprises of coking coal, semi Net Profit 4
coking coal, non-coking coal, middlings, NLW coking coal, rejects, LTC coke, washed & beneficiated Networth 49
coal, coal fines, tar and light oils among others. As of Mar 31, 2015, CIL had 151 ongoing projects
comprising of 124 coal projects and 27 non-mining projects. In FY15, the company produced around Address
494.24 MMT of raw coal of which 93% was produced from open cast mines. In Oct 2015, CIL entered Premises No-04 MAR,
into JV with GAIL, RCF and Fertilizer Corporation of India Ltd for incorporation of a company namely Plot No-AF-III,
Rashtriya Coal Gas Fertilizers Ltd to establish and operate new coal gasification based fertilizer Action Area-1A, New Town,
complex at Talcher. In Feb 2016, CIL signed MoU with IOCL for manufacturing of bulk explosives. Rajarhat, Kolkata 700156, WB
Website: www.coalindia.in

145,305.2 133,833.9 167,147.3 139,026.4 95.7 92.1 80.1
(As on Mar 31, 2015)
Gujarat Mineral Development Corporation Limited

About the Company
Gujarat Mineral Development Corporation Ltd (GMDC), a Govt of Gujarat undertaking, was Top 500 Ranking
incorporated in 1963. In 1964, the company commissioned bauxite mining and in the year 1996, Income 370
it forayed into power segment with the establishment of 250 MW power plant in Kutch, Gujarat.
GMDC primarily operates in two business segments namely mining and power. In mining project Net Profit 157
segment, the company undertakes mining of lignite, bauxite, fluorspar, manganese, silica sand, ball Networth 145
clay, bentonite sand and limestone among others. In power projects segment, GMDC generates
power through its thermal power plant with an aggregate installed capacity of 250 MW, wind farm Address
projects with 150.9 MW capacities and a 5 MW solar project. As of Mar 31, 2015 GMDC operated Khanij Bhavan,
six lignite mines, one fluorspar project, one multi metal project, two bauxite projects, and one 132 Feet Ring Road,
manganese project in Gujarat. In FY15, GMDC produced around 8.7 MMT of lignite and 0.26 MMT Near University Ground,
of bauxite. During the year, GMDC also generated around 1,358 MU of thermal power, 302 MU of Vastrapur, Ahmedabad - 380052, Gujarat
wind power and 8 MU of solar power. Website: www.gmdcltd.com

15,628.8 3,911.7 32,400.7 7,731.4 49.5 25.0 12.1
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

C onstruction -
I nfrastructure
D e v elopment
Construction - Infrastructure
Development
Comparative Matrix

Company Name
1 Larsen & Toubro Limited 593,007.8 46,990.2 367,172.9 7.9 12.8
2 NCC Limited 84,920.1 1,117.9 31,994.9 1.3 3.5
3 Simplex Infrastructures Limited* 56,346.0 624.3 14,367.4 1.1 4.3
National Buildings Construction Corporation
4 48,087.2 2,773.0 13,241.3 5.8 20.9
Limited
5 Hindustan Construction Company Limited@ 42,817.8 816.5 13,848.0 1.9 5.9
6 IL&FS Transportation Networks Limited 38,818.2 3,186.6 33,526.7 8.2 9.5
7 Sadbhav Engineering Limited 30,353.9 1,137.3 13,358.6 3.7 8.5
8 Patel Engineering Limited 26,682.3 118.9 16,990.4 0.4 0.7
9 Pratibha Industries Limited 24,260.7 782.7 7,349.1 3.2 10.7
10 JMC Projects (India) Limited 24,131.0 298.6 4,282.4 1.2 7.0
11 IRB Infrastructure Developers Limited 21,993.1 1,383.3 21,497.7 6.3 6.4
12 Ashoka Buildcon Limited 20,251.2 1,421.8 10,321.2 7.0 13.8
13 MBL Infrastructures Limited 19,512.8 801.6 6,469.4 4.1 12.4
14 Supreme Infrastructure India Limited*@ 15,275.4 172.5 7,719.2 1.1 2.2
15 SPML Infra Limited* 14,455.8 137.8 4,645.6 1.0 3.0
16 ITD Cementation India Limited* 13,767.2 (761.2) 5,678.3 (5.5) (13.4)
17 J. Kumar Infraprojects Limited 13,562.3 943.9 7,890.9 7.0 12.0

Larsen & Toubro Limited
About the Company
Larsen & Toubro Ltd (L&T) was founded in 1938 as a partnership firm by Henning HolckLarsen Top 500 Ranking
and Soren Kristian Toubro. In 1946 L&T was converted into private limited and in 1950, became Income 11
a public limited company and acquired its present name. L&T operates its business across various
segments like infrastructure, building & factories, transportation infrastructure, heavy civil Net Profit 22
infrastructure, power transmission & distribution, water & renewable energy, power, metallurgical Networth 19
& material handling, heavy engineering, electrical & automation, machinery & industrial products,
hydrocarbon, IT, technology services, financial services and development projects amongst others. Address
As on Mar 31, 2015, the unexecuted order book of the company stood at ` 2.3 trillion, which was L&T House,
28% higher than the previous year. The overall order inflows in FY15 stood at ` 1.5 trillion at group Ballard Estate,
level. Some of the major projects awarded in FY15 include; Statue of Unity, the Riyadh Metro in Mumbai - 400001, Maharashtra
KSA, the Doha metro in Qatar, the Western Dedicated Freight Corridor (WDFC), Al Wakrah Bypass Website: www.larsentoubro.com
road project in Qatar, Optical fibre cable network for BSNL, Kahramaa Phase XI substations in Qatar
among others.

593,007.8 46,990.2 367,172.9 89,984.5 15.2 7.9 12.8
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 108
Net Profit 286
NCC Limited Net Worth 146
A A V Ranga Raju, Managing Director
Mr. Ranga Rajus view

The Govt. of Indias record budgetary allocation of ` 2.21 lakh crore for infrastructure development is a crucial move to revive investments in the
sector with the participation of the private players.
Improved infrastructure through network of roads, rail, urban infrastructure will provide impetus for enhanced growth and in turn, generate
employment.
The government is committed to addressing the key challenges that have long been raised by international and domestic investors. What remains to
be seen, however, is how these new policy directions and investments will flow downstream into the respective infrastructure ministries responsible
for delivering on the expectations set by the government.
Overall, I see very promising days ahead for the infrastructure sector.

NCC Ltd is one of the leading construction Companies and undertakes turnkey EPC Total Income 84,920.1
contracts and cash contracts in various parts of the country. NCC was founded in 1978 as
a partnership firm and subsequently got converted into a limited company in 1990. The Net Profit 1,117.9
company got listed on the Bombay Stock Exchange in 1992. Networth 31,994.9
EBIDTA 7,639.9
NCC has wide presence in the country with its headquarters in Hyderabad and
Ratios (%)
regional offices spread across various cities including Ahmedabad, Bengaluru, Bhopal,
Bhubaneswar, Chennai, Kochi, Kolkata, Lucknow and Mumbai. NCCs two main EBIDTA Margin 9.0
subsidiaries are NCC Urban Infrastructure Ltd, which focuses on urban real estate projects NPM 1.3
and NCC Infrastructure Holdings Limited, which focuses on long-term infrastructure
RONW 3.5
projects through government concessions. NCC also has international presence through
(As on Mar 31, 2015)
its subsidiaries in Oman, United Arab Emirates (UAE) and Qatar.
Management Details
Business Verticals Chairman Emeritus
NCC operates into diversified business divisions which are as under:- Dr AVS Raju
Buildings & Housing: NCCs buildings & housing division is the largest business Chairman of the Board
vertical of the company. It is involved in the construction of housing projects, HM Nerurkar
industrial & commercial projects such as IT parks, shopping malls, sports complexes, Managing Director
hotels and hospitals. Some of the major projects undertaken include, academic- AAV Ranga Raju
cum-library building for NITIE, Mumbai; Symbiosis International University, Directors
Hyderabad campus; 5-star deluxe hotels- Trident & Oberoi at Hyderabad and AGK Raju
RV Shastri
Warehouse and non-warehouse buildings for Controller of Defence, Agra.
P Abraham
Roads: The roads division undertakes projects involving construction of highways, R Challu
bridges & flyovers, highway realignment & bypass, carriageway widening & S Ravi
strengthening and rehabilitation & up-gradation projects. Some of the key projects A Dixit
under this segment include six lane Agra-Lucknow access controlled expressway N Mohan
project in UP; metro rail viaduct in Bengaluru; four-laning of Jhansi-Lakhnadon UH Sheth
NR Alluri
section for NHAI and improvement of Urban North South Elevated Corridor in
ASN Raju
Agartala. AVN Raju, JVR Raju
Water & Environment: NCCs water and environment division undertakes projects Address & Website
involving design & construction of water supply and distribution system, water
treatment plant, storage tanks, pumping stations and underground drainage NCC House,
Madhapur,
system amongst others. Some of the major projects implemented by the company
Hyderabad 500081,
under this category include, 339 MLD sewage treatment plant at Amberpet; Bungi Telangana
Rajgarh water supply project for PHED, Rajasthan; and Twin MS pipeline of 3,000
Website
mm & construction of pumping station at Wadhwan Bhogavo II Reservoir for www.ncclimited.com
NWRWS&K Department, Gujarat.
Electrical: The Companys electrical division undertakes design, engineering,
erection, testing & commissioning of transmission lines & sub-stations along with

electrification and distribution projects. Some of the key projects executed under this segment include Kochi- RADRRP project;
RAPDRP-Erode, RAPDRP-Trichy, RAPDRP-Tirunelveli, RAPDRP- Villupuram for TANGEDCO, Chennai; and 765kV SC lines at Jaipur-
LakhakaNangal & LakhakaNangal-Bhiwani.
Irrigation: The irrigation division undertakes construction works of irrigation projects comprising canals, dams, reservoirs,
tunnels, barrages and spill ways among others. Some of the major irrigation projects undertaken by NCC include Eastern Gandak
Canal project, Bihar; Owk Tunnel, AP; Sarradih Barrage project, Chhatisgarh; and Kachchh Branch Canal, Gujarat.
Railways: NCCs railways division undertakes projects such as dedicated freight corridor, private railway sidings and zonal railway
projects. A few of the key projects executed under this segment include, construction of roadbed, major and minor bridges,
track linking, general electrical, traction and signal & telecommunication works of Gudivada - Bhimavaram section in Vijayawada
division of south central railway for RVNL.
Power: NCCs power division undertakes EPC projects in thermal and hydro power. Some of the key power project undertaken
includes 1,320 MW coal-based super ctitical power project at Krishnapatnam, AP; and EPC works of KVK Nilanchal project,
Odisha.
Metals: The metal division undertakes EPC projects of ferrous and non-ferrous metals. Some of the key projects executed under
the metals segment include SAIL ISP, Burnpur 4,160-cum-blast furnace; Gerdau Steels non-recovery type coke oven battery
project at Tadipatri and NMDCs 460 sq mtrs sinter plant at Nagarnar.
Mining: NCCs mining division undertakes ferrous & non-ferrous mining projects, removal of overburden and bulk material handling
technologies, extraction of coal, lignite and other minerals and transportation of coal. The division also undertakes MDO.(Mine
developer and operator ) projects. Some of the key projects implemented include extraction and transfer of coal/coal measure
strata from face to Lajkura Siding No. II or reject dump at Lakhanpur OCP, Odisha; and blast hole drilling, controlled blasting with
shock tube initiation, excavation, loading, transportation, dumping etc. of overburden at Medapalli OCP, Telangana.
International: NCCs international division mainly executes construction projects in Oman and the UAE in buildings, roads and
water pipelines segment. Few Internationals key projects of NCC include Batinah Expressway, Oman; Al Ain Secondary Technical
School, Al Ain, UAE; and EPIC of New NGL Campus at Qatar Petroleum, Qatar.
Performance Highlights
The revenue for FY 15 was 84920 million, up from 62708 million in FY 14. (Growth of 36 %) EBIDTA was 6493 million, up from 4049
million in FY 14. (Growth of 60 % )The Post Tax profit was 1118 million, up from 405 million in FY 14. Growth of 176 %)EBIDTA margin
% was 7.8 %, up from 6.6 % in FY 14.
Key Highlights
CIDC New Delhi awarded NCC the Vishwakarma Award in the following categories:
Industry Doyen award-AAV Ranga Raju,MD
Best professionally managed company-NCC Limited
Best Construction Project-ESIC Gulbarga
Best Artisans Award for six workmen of the company.
Successfully monetized one Power asset and two Road assets.
Corporate Social Responsibility

NCC carries out various social and philanthropic activities via its CSR arm namely NCC Foundation. NCCs key focus areas under CSR
are education, housing and health care. Also, Dr AVS Raju, the Founder Chairman of NCC has set up, Sirisha Memorial Charitable Trust
(Trust) in 2001 which is mainly working towards securing basic amenities such as shelter, food, health and education for the orphan
children.
ESI Hospital & Medical College - Gulbarga, Karnataka

Simplex Infrastructures Limited
About the Company
Simplex Infrastructures Ltd (Simplex Infrastructures) was founded in 1924 Simplex Concrete Piles Top 500 Ranking
(India) Ltd. In 1935, the company commenced construction of industrial structures. In 1947, the Income 144
company ownership was taken over by Mundhras. Subsequently, it forayed into construction of
thermal power plant in 1960.The company went public with an IPO in 1993. The company is mainly Net Profit 353
engaged in construction business including oil drilling services, windmill, real estate and hire of Networth 236
plant and equipment including oil drilling rig. It operates in ground engineering, power, marine,
industrial, roads, railways & bridges, urban infra and building & housing. The company has presence Address
across various construction verticals including piling, industrial plants, power plants thermal; Simplex House,
nuclear; hydel; power transmission, urban infrastructures & utilities metro rails; airports; urban 27, Shakespeare Sarani,
sewerage & water systems, buildings and housing, marine ports, roads; railways; bridges & elevated Kolkata - 700017, WB
road & rail corridors. The company has executed over 2,700 projects in India and abroad. As on Mar Website: www.simplexinfrastructures.com
31, 2015, the company companys order book stood at more than ` 160,000 mn and comprised of
225 contracts across 206 project sites.

56,346.0 624.3 14,367.4 6,087.3 10.8 1.1 4.3
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

National Buildings Construction Corporation Limited
About the Company
National Buildings Construction Corp Ltd (NBCC), a Navratna company was established in 1960 Top 500 Ranking
as a GoI enterprise. NBCC mainly operates into three different business segments namely project Income 165
management consultancy, real estate development and EPC contracting. NBCC offers management
and consultancy services for a wide range of civil construction projects including residential and Net Profit 187
commercial complexes, re-development of colonies, educational institution, hospitals, roads and Networth 256
solid waste management amongst others. In FY15 NBCC secured new orders worth ` 70.1 bn taking
the order book position to ` 181.8 bn as on Mar 31, 2015. In Aug 2015, NBCC incorporated NBCC Address
Gulf LLC in the Sultanate of Oman with 70% equity participation to carryout commercial construction NBCC Bhawan,
activities of buildings, roads, airport, harbour, water sewerage and electricity network in Oman. Lodhi Road,
In Dec 2015, NBCC incorporated a wholly owned subsidiary in the name of NBCC Engineering New Delhi - 110005, Delhi
& Consultancy Ltd to provide engineering and consultancy services related to construction and Website: www.nbccindia.com
development of all types of buildings,infrastructure and other conveniences including smart city
projects.

48,087.2 2,773.0 13,241.3 4,336.0 9.0 5.8 20.9
(As on Mar 31, 2015)
Hindustan Construction Company Limited

About the Company
Hindustan Construction Company Ltd (HCC), a part of HCC Group was incorporated in 1926. Top 500 Ranking
HCC primarily operates in the business of Engineering and Construction (E&C) which focuses on Income 184
transportation, power, water supply, irrigation, marine works and industrial construction projects.
HCC through its wholly owned subsidiary HCC Real Estate Ltd undertakes business of building Net Profit 323
residential and office complexes in the real estate sector. Its infrastructure development subsidiary Networth 243
HCC Infrastructure Company Ltd focuses on developing public infrastructure assets through PPP in
transportation, power and water concession. As on Mar 31, 2015 the order book position of HCC Address
stood at ` 144.51 bn. In Sep 2015, the company bagged contract from NHAI for constructing 36 km Hincon House,
highway in J&K valued at ` 17.8 bn and in Oct 2015, it bagged order form BARC for constructing the 11th Floor, 247 Park,
first phase of its Integrated Nuclear Recycle Plant in Tarapur valued at ` 9.4 bn. In Feb 2016, HCC in Lal Bahadur Shastri Marg, Vikhroli (West),
JV with Vensar Constructions Company Ltd received contract from PWD Manipur for constructing Mumbai - 400083, Maharashtra
Imphal-Kangchup-Tamenglong highway valued at ` 11.1 bn. Website www.hccindia.com

42,817.8 816.5 13,848.0 9,025.7 21.1 1.9 5.9
(As on Mar 31, 2015)
IL&FS Transportation Networks Limited

About the Company
IL&FS Transportation Networks Ltd (ITNL) was incorporated in 2000 as a subsidiary of Infrastructure Top 500 Ranking
Leasing and Financial Services Ltd. ITNL is engaged in development, operations and maintenance Income 197
of surface transportation infrastructure projects encompassing national and state highways,
roads, tunnels, flyovers and bridges. ITNL provide end-to-end solutions for BOT road projects from Net Profit 172
conceptualising to commissioning, operation, maintenance and management. ITNL also undertakes Networth 142
non-road sector projects including metro rail, city bus services and border check posts. ITNL had a
project portfolio of 28 road projects under various stages of development and operation covering Address
around 12,865 lane kms of road. ITNL has international presence in 24 countries like China, UAE, Plot C-22,
Mexico, US, Brazil, Nigeria, and Columbia amongst others. In FY15, ITNL commissioned 1,067 lane G Block,
km of road. In Sep 2015, the company signed a concession agreement with NHAI for development BKC, Bandra (E),
of 4-laning of Amravati-Chikli section of NH-6 in Maharashtra valued at ` 22.9 bn and 4-laning of Mumbai - 400051, Maharashtra
Fagne Gujarat/Maharashtra Border section of NH-6 valued at ` 18.9 bn on BOT basis through its Website: www.itnlindia.com
subsidiary.

38,818.2 3,186.6 33,526.7 10,820.9 27.9 8.2 9.5
(As on Mar 31, 2015)

Sadbhav Engineering Limited
About the Company
Sadbhav Engineering Ltd (SEL) was incorporated in 1988 as a private limited company and was Top 500 Ranking
converted to a public limited company in 2001 and acquired its present name. SEL undertakes Income 239
engineering, construction and infrastructure development activities across transport, mining and
irrigation sectors. Under transport sector, SEL undertakes upgrading, widening and strengthening Net Profit 281
of roads and highways along with BOT road projects. Under mining, the company undertakes Networth 253
excavation of overburden, rock, coal, lignite and uranium ore and under irrigation, SEL executes
projects like construction of dams, canal siphons, remodelling and improvement of canals. During Address
the year ending June 2015, the order book of the company stood at ` 84.6 bn, with nearly 52% Sadbhav House,
contribution from the transport segment, followed by mining and irrigation at 27% and 21% Opp. Law Garden Police Chowki,
respectively. It is executing 13 EPC projects in the transport segment including; Four Laning of Ellisbridge,
Ambala - Kaithal Section in the state of Haryana of NH-65; Upgradation of the road from Managuli Ahmedabad - 380006, Gujarat
to Devapara of SH-61 in the state of Karnataka; and Widening & Strengthening of Raj-Athagarh- Website: www.sadbhaveng.com
Narasinghpur road (SH-65) to 2-lane.

30,353.9 1,137.3 13,358.6 3,538.6 11.7 3.7 8.5
(As on Mar 31, 2015)
Patel Engineering Limited

About the Company
Patel Engineering Ltd (Patel Engineering) was incorporated in 1949. It is one of the most integrated Top 500 Ranking
infrastructure and construction services company, operating under two segments namely E&C, real Income 254
estate development. Under E&C segment, the construction spans across power projects, irrigation,
urban infrastructure & roads projects among others. This segment includes tunneling, underground Net Profit 450
works for hydroelectric and irrigation projects, water treatment projects, refineries, dams, railways, Networth 219
highways, micro-runnels, roads, bridges, marine works etc. As on Mar 31, 2015 the order backlog
from E&C business of Patel Engineering stood at ` 108.8 bn, with more than 50% share of power Address
projects. In real estate segment, it operates through its subsidiary company namely; Patel Realty Patel Estate V. Road,
(India) Ltd, which builds residential and commercial complexes including townships, malls and other Jogeshwari (West),
structures. Some of its residential projects include; integrated township Neotown in Bengaluru; and Mumbai - 400102, Maharashtra
residential project at Gachibowli, Hyderabad named as Smondo Gachibowli among others. Some of Website: www.pateleng.com
the orders bagged by the company in FY15 include; 4 Laning of Sangrur-Punjab / Haryana Border,
Punjab; and Shimoga Shikaripura Anandpuram Road Project, Karnataka.

26,682.3 118.9 16,990.4 5,819.4 21.8 0.4 0.7
(As on Mar 31, 2015)
Pratibha Industries Limited

About the Company
Pratibha Industries Ltd (Pratibha Industries), a flagship company of Pratibha group, was incorporated Top 500 Ranking
in 1982. In 1992, the company extended its presence in the civil construction industry. In 2009, the Income 276
company set up PPP division to undertake contract or concession agreement from govt. Pratibha
Industries is engaged in the business of integrated infrastructure solutions. The company provides Net Profit 328
designing, engineering, execution and construction of complex & integrated water transmission & Networth 350
distribution projects, water treatment plants, road construction and urban infrastructure amongst
others. As on Mar 31, 2015, the order book status of Pratibha Industries stood at ` 55 bn. The Address
company has four subsidiaries namely; Prime Infrapark Private Limited, Bhopal Sanchi Highways Shrikant Chambers,
Private Limited, Muktangan Developers Private Limited and one overseas subsidiary Pratibha 5th Floor, Phase II,
Holding (Singapore) Pte Limited. Sion Trombay Road, Chembur,
Mumbai - 400071, Maharashtra
Website: www.pratibhagroup.com

24,260.7 782.7 7,349.1 3,098.9 12.8 3.2 10.7
(As on Mar 31, 2015)

JMC Projects (India) Limited
About the Company
JMC Projects (India) Ltd (JMC), part of Kalpataru Group, was incorporated in 1986. JMC undertakes Top 500 Ranking
civil and structural works for commercial and residential buildings, industrial, infrastructure and Income 277
power plant projects. Under buildings and housing, the companys focus areas include; residential,
townships, institutional buildings, office spaces, IT parks, healthcare and hospitality. Its infrastructure Net Profit 406
segment includes; highways, expressways, roads, flyovers, bridges, elevated corridors, water, metro Networth 414
rail, and railways. It offers engineering, design, procurement, construction services to manufacturing
that mainly cater to industries like Automobile & Ancillary, chemical, power, pharma, metals and Address
food processing. Apart from this, it also undertakes special projects such as sports complexes and A-104, Shapath - 4,
facilities and tourism projects. As on Mar 31, 2015, the order book of JMC stood at ` 56.7 bn, S. G. Road,
with fresh order inflow of ` 31.5 bn in FY15. Some of the fresh orders received in FY15 include; Opp. Karanavati Club,
Construction of museum for Central Public Works Department at President Estate, New Delhi; Ahmedabad - 380015, Gujarat
Construction of refinery for RIL at Jamnagar, Gujarat; and Civil & Architectural work at the Raigarh Website: www.jmcprojects.com
4x300 MW Power Project for SKS Power Generation Ltd at Chhattisgarh.

24,131.0 298.6 4,282.4 1,667.6 6.9 1.2 7.0
(As on Mar 31, 2015)
IRB Infrastructure Developers Limited

About the Company
IRB Infrastructure Developers Ltd (IRB Infra), an IRB Group company was incorporated in 1998. Top 500 Ranking
The company is an infrastructure development company which mainly operates in roads and Income 295
highways sector through several SPVs. It carries out its operations under two verticals namely EPC
and operations & maintenance division which include handling operation & maintenance of BOT Net Profit 262
road projects. The company has constructed more than 1,247 kms of highways on BOT basis, while Networth 190
964 kms is under construction. As on Mar 31, 2015, the company had a portfolio of 17 operational
projects and six projects that are under implementation. During the same period, the order book Address
position of the company stood at ` 126.3 bn, comprising ongoing BOT projects worth ` 32.2 bn, 3rd Floor, IRB Complex,
BOT projects in O&M phase worth ` 18.6 bn and BOT projects yet to commence construction worth Chandivli Farm, Chandivli Village,
` 75.5 bn. Some of the new projects awarded to the company in FY15 include; Mumbai Pune Andheri (E),
Phase II Project by MSRDC; Yedeshi Aurangabad Project in Maharashtra by NHAI; and Kaithal Mumbai - 400072, Maharashtra
Rajasthan Border Project in Haryana by NHAI. Website: www.irb.co.in

21,993.1 1,383.3 21,497.7 4,339.3 19.7 6.3 6.4
(As on Mar 31, 2015)
Ashoka Buildcon Limited

About the Company
Ashoka Buildcon Ltd (ABL) was incorporated in 1976. In 1986, ABL entered into construction of Top 500 Ranking
industrial and institutional buildings and in the year 1996, it diversified into PPP based highway Income 314
development projects. The company is engaged in infrastructure development with presence in
seven states. ABL undertakes developing and building infrastructure facilities on EPC basis in power Net Profit 258
sector and on DBFOT and EPC basis in highways. ABL also undertakes projects on operation and Networth 289
maintenance and toll collection contract basis. As on Mar 31, 2015, ABL had completed nearly
4,977 lane kms and is currently executing nearly 1,606 kms across the states of TN, Karnataka and Address
WB. During the same period, the order book of ABL stood at ` 31.06 bn. Some of the projects S. No. 861,
received by the company in FY15 include; supply, test, transport, construction, erection, testing and Ashoka House,
commissioning works by MSEDCL; rehabilitation and up gradation of Madhugiri-Chikkaballapura- Ashoka Marg,
Mulbagal section of NH-234 in Karnakata; and composite tender for rural electrification from South Nashik - 422011, Maharashtra
Bihar Power Distribution Company Ltd among others. Website: www.ashokabuildcon.com

20,251.2 1,421.8 10,321.2 2,968.6 14.7 7.0 13.8
(As on Mar 31, 2015)

MBL Infrastructures Limited
About the Company
MBL Infrastructures Ltd (MBL) was incorporated as Maheshwari Brothers Ltd in 1995 and acquired Top 500 Ranking
its present name in 2006. MBL undertakes civil engineering projects, BOT projects and provides Income 323
integrated EPC services for civil construction and infrastructure sector. The company undertakes
projects in the sectors like highway construction, road operation & maintenance, industrial Net Profit 325
infrastructure, housing infrastructure, railway infrastructure and other infrastructure projects. MBL Networth 362
has executed BOT projects of 114 km and is currently executing 13 housing & building projects.
Some of the major clients of MBL include NHAI, PWD, SAIL, MPRDC, DMRC, NBCC, MP Housing Address
Board and RVNL amongst others. As on Mar 31 2015, the order book of MBL stood at around ` 37.7 Divine Bliss,
bn which comprises 71% road & highways projects, 15% building and housing projects and the rest 1st Floor,
railway projects. In Jan 2016, MBL bagged a project for maintenance of Guwahati bypass on NH- 2/3 Judges Court Road,
37 for contract value of ` 256.2 mn and project for rehabilitation & up-gradation of Goharganj to Kolkata - 700027, WB
Bhopal section of NH-12 for contract value of ` 5.8 bn. Website: www.mblinfra.com

19,512.8 801.6 6,469.4 2,220.6 11.4 4.1 12.4
(As on Mar 31, 2015)
Supreme Infrastructure India Limited

About the Company
Supreme Infrastructure India Ltd (Supreme Infrastructure) was incorporated as Supreme Asphalts Top 500 Ranking
Pvt Ltd in the year 1983. In 2002, the name of the company was changed to Supreme Infrastructure Income 377
India Pvt Ltd and subsequently in 2007 the company acquired its present name. Supreme
Infrastructure primarily operates in EPC business and a BOT operator engaged in the construction Net Profit 437
of infrastructure and related projects. It undertakes infrastructure development activities in the Networth 340
field of roads, bridges, buildings, railways, water infrastructure and power. The company operates
its projects across 13 states in India and also has presence in Middle East through a quarry acquired Address
in 2013. In FY15, the company had 11 BOT projects under its portfolio of which four are operational Pratap Gad,
and seven are under construction. As on Mar 31, 2015 the order book of the company stood at Opp. IIT Main Gate,
` 50.3 bn of which 49% was represented by roads/bridges segment and 32% by building projects. Powai,
In Mar 2016, it bagged orders worth ` 0.75 bn for MMRDA for the construction of six lane bridge Mumbai - 400076, Maharashtra
on Ulhas Creek on NH222. As per the companys FY15 annual report, the company restructured its Website: www.supremeinfra.com
debt through the Joint Lenders Forum (JLF) forum in FY15.

15,275.4 172.5 7,719.2 2,532.3 16.6 1.1 2.2
(As on Mar 31, 2015)
SPML Infra Limited

About the Company
SPML Infra Ltd (SPML) was incorporated in 1981. SPML is engaged in engineering, procurement Top 500 Ranking
and construction, public private partnership and BOOT (Build-Own- Operate-Transfer) basis. The Income 386
company also executes infrastructure for water treatment and transmission, wastewater treatment
and recycling, solid waste management, power transmission and distribution and civil infrastructure Net Profit 445
development. It is also engaged in manufacturing pipes at its facilities at Gangapur, Rajasthan and Networth 404
Mysore, Karnataka. Water, Environment, energy and infra are some of the key business areas of
the company. In FY15, the company received orders from Rajasthan, Gujarat, Karnataka, UP, WB Address
and added new project worth ` 20 bn; taking the overall order book to ` 55 bn. The company F - 27 / 2,
has 30 subsidiaries, 14 joint ventures and 18 associate companies. Some of the major projects Okhla Industrial Area,
implemented by the company include; Pokaran-Falsund-Balotra-Siwana (PFBS) Lift Project; Phase II,
Chambal Sawaimadhopur Nadauti Water Supply Project and Jawai Palli water supply Project; and New Delhi - 110020, Delhi
Rural electrification work in Koderma District of Jharkhand among others. In Feb 2016, it secured Website: www.spml.co.in
two new orders worth ` 8.12 bn.

14,455.8 137.8 4,645.6 1,715.4 11.9 1.0 3.0
(As on Mar 31, 2015)

ITD Cementation India Limited
About the Company
ITD Cementation India Ltd (ITD Cementation India) was incorporated in 1978 as Cemindia Company Top 500 Ranking
Ltd. The company acquired its present name in 2005. ITD Cementation India is primarily engaged Income 406
in EPC segment of the construction business. It undertakes construction projects in the field of
marine structures, mass rapid transit systems, hydro-power, tunnels, dams & irrigation, industrial Net Profit 484
structures, airports, highways, bridges and flyovers and infrastructure facilities among others. The Networth 379
company had 57 operational project sites across 14 states in the country as on Dec 2015. During
the same period, the order book of the company stood at ` 52.04 bn, with 53.3% contribution from Address
maritime structures and 17.2% from Hydro projects, tunnels, dams and irrigation projects. Some National Plastic Building,
of the projects bagged in CY15 include; Dredging and reclamation works for the fourth container Paranjape B Scheme,
terminal at Jawaharlal Nehru Port for Bharat Mumbai Container Terminals; Development of the Vile Parle (East),
West Quay North berth in the inner Visakhapatnam Port harbour for Visakhapatnam Port Trust; and Mumbai - 400057, Maharashtra
Piling of 15000 piles through the use of rotary rigs for 5-10 MTPA expansion project at JSW Steel. Website: www.itdcem.co.in

13,767.2 (761.2) 5,678.3 1,595.0 11.6 (5.5) (13.4)
(As on Dec 31, 2014)
J. Kumar Infraprojects Limited

About the Company
J. Kumar Infraprojects Ltd (JKIL) was incorporated in 1999. It is mainly into construction business Top 500 Ranking
which can be categories in to four segments: transportation, civil, irrigation and pilling. Under the Income 413
transportation segment, this provides major proportion of company business, comprises of roads,
bridges, flyovers, subways, over bridges, skywalks, railway terminus/stations etc. The company Net Profit 305
designs and constructs these projects as per clients specifications on turnkey basis. Under the Networth 333
civil segment, it provides both commercial and residential buildings. The commercial business
includes office/commercial buildings, sports complexes, swimming pools etc.; residential buildings Address
include housing societies etc. In irrigation segment, the company builds dams, canals, aqueducts 16-A, Andheri Industrial Estate,
and irrigation tanks, spillways etc. JKILs pilling segment has 22 such rigs which are used to build Veera Desai Road,
pile foundations for buildings and flyovers, marine structures, offshore platforms etc. This segment Andheri (West),
caters to major real estate and infrastructure companies. In FY15, the order book status of the Mumbai - 400058, Maharashtra
company stood at ` 30.2 bn. During the same period, it bagged orders worth ` 12.2 bn in the Website: www.jkumar.com
transportation segment.

13,562.3 943.9 7,890.9 2,503.8 18.5 7.0 12.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

C onsumer D urables &
A ppliances
Consumer Durables &
Appliances
Comparative Matrix

Company Name
1 Videocon Industries Limited*# 134,218.3 20.3 103,077.9 0.0 0.0
2 Voltas Limited 53,180.6 3,110.5 18,311.9 5.8 17.0
3 Bajaj Electricals Limited 42,815.6 (147.9) 6,788.9 (0.3) (2.2)
4 Whirlpool of India Limited 33,317.8 2,105.1 9,024.8 6.3 23.3
5 Blue Star Limited 30,909.3 1,106.3 5,834.8 3.6 19
6 Lloyd Electric & Engineering Limited 18,395.3 816.4 7,336.7 4.4 11.1
7 Orient Paper & Industries Limited 16,890.0 (286.5) 3,833.1 (1.7) (7.5)
8 Hitachi Home and Life Solutions (India) Limited 15,799.6 777.6 2,839.6 4.9 27.4
9 TTK Prestige Limited 13,933.8 898.8 6,426.8 6.5 14.0
10 IFB Industries Limited 12,765.8 497.3 3,659.4 3.9 13.6

Videocon Industries Limited
About the Company
Videocon Industries Ltd (Videocon) has a diversified business of manufacturing, assembling and Top 500 Ranking
distributing a comprehensive range of consumer electronics, products and home appliances Income 67
including finished goods such as televisions, home entertainment systems, refrigerators, washing
machines, air conditioners, small household appliances and components such as glass shell, Net Profit 460
compressors and motors. The company has also diversified into power generation, oil and gas Networth 73
business, telecom sector and insurance. Under television segment, it manufactures LED TV,
curve TV, smart TV, windows powered TV, 4K ultra HD TV, DDB LED TV, welcome series and liquid Address
luminous. Under washing machine segment it manufactures front loading and top loading fully- 14 K.M. Stone,
automatic and semi-automatic washing machines. Videocon also manufactures wide variety of split Aurangabad-Paithan Road,
and wi-fi air conditioners. The company operates through three manufacturing facilities located at Chittegaon, Paithan,
Aurangabad in Maharashtra, Bharuch in Gujarat and Alwar in Rajasthan. In Nov 2015, Videocons Aurangabad - 431105, Maharashtra
subsidiary Video telecommunications Ltd entered into an agreement with idea Cellular Ltd for sale Website: www.videoconworld.com
of spectrum for 2 circles for a consideration of ` 33 bn.

134,218.3 20.3 103,077.9 29,269.4 21.8 0.0 0.0
(As on Dec 31, 2014)
Voltas Limited
About the Company
Voltas Ltd (Voltas), a Tata Group company was incorporated in 1954. Voltas offers engineering Top 500 Ranking
solutions for a wide spectrum of industries in areas such as heating, ventilation and air conditioning, Income 155
refrigeration, electro-mechanical projects, textile machinery, mining and construction equipment,
water management & treatment, cold chain solutions, building management systems, and indoor Net Profit 179
air quality. The company undertakes turnkey projects in fields such as electrical power projects; Networth 213
electro-mechanical works comprising HVAC, electrical systems for buildings, plumbing, fire fighting,
ELV and specialized systems, building security and other utilities; and environmental and water Address
pollution control, pumping stations and water supply, and water and waste water treatment Voltas House A,
projects. Voltas operates through manufacturing units located at Thane, Dadra and Pantnagar. As Dr. Babasaheb Ambedkar Road,
on Mar 31 2015, the order book position of the company stood at ` 38.9 bn. In May 2015, Voltas Chinchpokli,
launched All-Weather Smart ACs with smart inverter technology, smart mobile application and Mumbai - 400033, Maharashtra
smart sense technology. It also launched Fresh-Air Coolers with features like honeycomb cooling Website: www.voltas.com
pads, carbonised dust filter and powerful air throw in May 2015.

53,180.6 3,110.5 18,311.9 4,673.4 8.8 5.8 17.0
(As on Mar 31, 2015)
Bajaj Electricals Limited

About the Company
Bajaj Electricals Ltd (Bajaj Electricals) was incorporated in 1938. Bajaj Electricals business can be Top 500 Ranking
classified under five segments viz lighting, luminaires, appliances, fans, and engineering and projects Income 185
(E&P). Under appliances segment it offers wide range of domestic & kitchen appliances like water
heaters, mixers, food processors, microwave ovens, air coolers, steam, etc. Under fan segment the Net Profit 473
company supplies wide and attractive range of ceiling, table, pedestal, wall, fresh air and industrial Networth 357
fans. The luminaires covers commercial lighting, industrial lighting, area lighting, roadway lighting,
and urban architectural lighting. The lighting segment provides LED lighting products, HID lamps, Address
torches and lanterns. In FY15, E&P unit secured orders worth ` 33.4 bn comprising of transmission 45/47,
line tower & sub- station orders worth ` 7.3 bn, power distribution orders worth ` 24.7 bn and Veer Nariman Road,
illumination orders worth ` 1.3 bn. In Jun 2015, E&P business unit of Bajaj Electricals received three Mumbai - 400001, Maharashtra
new orders from OPTCL worth ` 845.5 mn and in Jul 2015, it received order from KPTCL worth Website: www.bajajelectricals.com
` 885.9 mn.

42,815.6 (147.9) 6,788.9 1,063.2 2.5 (0.3) (2.2)
(As on Mar 31, 2015)

Whirlpool of India Limited
About the Company
Whirlpool of India Ltd (Whirlpool), a subsidiary of Whirlpool Corporation was incorporated in 1996 Top 500 Ranking
as a result of merger of Kelvinator and TVS. Whirlpool is primarily engaged in manufacturing of Income 222
home appliances such as refrigerators, washing machines, air-conditioners, microwave ovens, water
purifiers, induction cook-top, built-in appliances and aceesories amongst others. It also provides Net Profit 210
product development and procurement services to Whirlpool Corporation, USA and other group Networth 311
companies. Whirlpool has three manufacturing plants located in the states of Haryana, Puducherry
and Maharashtra. The company has international presence in countries like Maldives, Nepal, Address
Myanmar, Fiji and Phillipines. In Mar 2015, Whirlpool opened its first exclusive built-in showroom Plot No. A 4,
called Whirlpool Haute Kitchen in Bengaluru which will offer a complete range of built-in products. MIDC, Ranjangaon,
In Apr 2015, Whirlpool launched Kitchen Archi-Tech, a one of its kind seminar for architects, in Taluka - Shirur,
association with the Indian Institute of Architects in Delhi. Pune - 419204, Maharashtra
Website: www.whirlpoolindia.com

33,317.8 2,105.1 9,024.8 3,686.7 11.1 6.3 23.3
(As on Mar 31, 2015)
Blue Star Limited

About the Company
Blue Star Ltd (Blue Star) was incorporated in 1949. Blue star offers a range of products under Top 500 Ranking
central airconditioning, commercial refrigeration, room air-conditioners, cold storages and cooling Income 235
products. Blue Stars product portfolio includes VRF systems, deep freezers, process chillers,
ripening chambers, split ACs, milk coolers and hot air generators amongst others.It provides allied Net Profit 288
contracting activities such as electrical, plumbing, fire-fighting services and execution of industrial Networth 375
projects. Blue star also undertakes other businesses like marketing and maintenance of imported
professional electronic and industrial systems through its wholly owned subsidiary Blue Star Address
Engineering & Electronic Ltd. In Jun 2015, Blue Star launched next generation 100% inverter variable Jamshedji Tata Road,
refrigerant flow air-conditioning system named Blue Star VRF IV Plus and in Jan 2016, it launched Marine Lines,Mohan T Advani Chowk,
range of highly energy efficient and eco-friendly ACs for residential and commercial segments. In Mumbai - 400020, Maharashtra
Nov 2015, the company entered into JV with W J Towell & Co LLC to incorporate Blue Star Oman Website: www.bluestarindia.com
Electro-Mechanical Company LLC to offer mechanical, electrical and plumbing contracting services
in Oman.

30,909.3 1,106.3 5,834.8 2,127.0 6.9 3.6 19.0
(As on Mar 31, 2015)
Lloyd Electric & Engineering Limited

About the Company
Lloyd Electric & Engineering Ltd (Lloyd) was incorporated in 1987. The company is primarily engaged Top 500 Ranking
in the production of heat exchanger coils and heat transfer products. It is also engaged in the Income 337
consumer durable business under the brand Lloyd which includes product portfolio like AC, LED TV,
washing machines, chest freezers and other small home appliances. Lloyd product portfolio includes Net Profit 324
fin & tube heat exchanger, railways HVAC systems, dry cooler, radiator & oil coolers, window & split Networth 351
AC amongst others. The company caters to both domestic and international markets. Lloyd operates
six manufacturing plants located in the states of Rajasthan, TN, Uttrakhand, HP and Haryana. The Address
company operates a wide network comprising 30 sales branches, 307 authorized service centres, A-146, B&C,
81 company owned service centers and 7,000 direct & indirect dealers. It serves customers across RIICO Industrial Area,
Middle East, Sri Lanka, Nepal and North America. In Mar 2016, Lloyd acquired rail and vehicle Bhiwadi,
business of Noske - Kaesers Group based in Germany, New Zealand, Australia, Brazil and US. Alwar - 301019, Rajasthan
Website: www.lloydengg.com

18,395.3 816.4 7,336.7 2,146.9 11.7 4.4 11.1
(As on Mar 31, 2015)

Orient Paper & Industries Limited
About the Company
Orient Paper & Inds. Ltd (OPIL) was incorporated in 1939. OPIL belongs to the CK Birla Group. The Top 500 Ranking
company has a diversified business and can be classified in five segments: manufacture and sale Income 352
of paper, electrical consumer durables, chemicals, industrial blowers and air pollution control
equipments. Majority of the business for the company is derived from paper and electrical consumer Net Profit 479
durables segments. Under the electrical consumer durables segment the company provide wide Networth 426
range of products from fans, lighting products and home appliance. The company is one of the
leading players in paper with a wide range of writing, printing, industrial and speciality papers. It Address
operates manufacturing facilities at Amlai, Brajrajnagar, Faridabad, Noida & Kolkata. Some of the Unit 8,
international clients are Africa, Middle East, Bangladesh, Sri Lanka and Nepal. In FY14, the electrical Plot No 7 Bhoinagar,
division of OPIL introduced various types of Fan including Energy saving BLDC fan of 1200 mm, 1400 Bhubaneswar - 751012, Orissa
mm, 600mm and 900mm under different category & brand. Its lighting subdivision introduced LED Website: www.orientpaperindia.com
bulbs of 5w, 7w and 9w. In June 2015, the company decided to expand tissue paper making capacity
at its paper plant at Amlai by 56000 MT.

16,890.0 (286.5) 3,833.1 426.4 2.5 (1.7) (7.5)
(As on Mar 31, 2015)
Hitachi Home and Life Solutions (India) Limited

About the Company
Hitachi Home and Life Solutions (India) Ltd (HHLSL), a subsidiary of Hitachi Appliance Inc., Japan Top 500 Ranking
produces a wide range of air conditioners and trades in refrigerators and washing machines. Income 366
Under air conditioners, it offers room air conditioners, ductable air conditioners, commercial air
conditioners, chillers, VRF systems and rooftops. The company also undertakes complete projects Net Profit 329
in HVAC category. The product range of HHLSL include Kampa, Kaze Neo, Cassette, Summer TM, Ace Networth 464
Cutout, Star Sumo, Kaze Plus Compact, Big 2 Refrigerator, Kashikoi, Ace Inverter and Ace Reidan Hot
& Cold amongst amongst others. The company operates an air conditioner manufacturing facility Address
at Kadi, Gujarat. HHLSL operates with an annual installed capacity of manufacturing 430,000 room 9th Floor,
air conditioners, 120,000 MT of ductable air conditioners, 9,000 VRF ODUs and 300 chillers. The Mithakhali Six Roads,
company operates a wide distribution network consisting of over 4,000 sales points, 42 company Abhijeet,
owned service centres and 600 other service points including multi-brand S&S and franchisees. Ahmedabad - 380006, Gujarat
Website: www.hitachi-hli.com

15,799.6 777.6 2,839.6 1,436.6 9.1 4.9 27.4
(As on Mar 31, 2015)
TTK Prestige Limited

About the Company
TTK Prestige Ltd (TTK Prestige), incorporated in 1955, is a part of TTK group. TTK Prestige operates Top 500 Ranking
in the kitchen appliances segment. The product range of the company includes pressure cookers, Income 400
non-stick cookware, OTGs, kitchen hoods, hobs, coffee makers, kettles, sandwich toasters and
other small electrical appliances. It has developed 3 brands over a period of time named Prestige, Net Profit 310
Manttra and Prestige SmartKitchen. The company operates four manufacturing facilities located Networth 364
across Hosur and Coimbatore in TN; Roorkee in Uttarakhand and Vododara in Gujarat. It also
operates its Prestige Smart Kitchen retail network, which has a presence in 22 states and 275 towns Address
through more than 530 stores. TTK Prestige is in the process of establishing a dedicated Service Plot No. 38,
Network under the name Prestige Service Centre and has already opened 210 centres. It is also Sipcot Industrial Complex,
developing direct relationships with on-line channels in order to reach the customers. During 2015, Hosur - 635126, TN
TTK Prestige introduced around 87 new SKUs covering Pressure Cookers, Induction Cook Tops, Website: www.ttkprestige.com
Mixer Grinders, and other small electric/nonelectric appliances.

13,933.8 898.8 6,426.8 1,561.4 11.2 6.5 14.0
(As on Mar 31, 2015)

IFB Industries Limited
About the Company
IFB Industries Ltd (IFB) started operations in Kolkata in 1974. It originally started in collaboration Top 500 Ranking
with Heinrich Schmid AG of Switzerland with the name Indian Fine Blanks Ltd. IFB is reputed to be Income 423
among the leading fine blankers in India and has nine fine banking presses. Its engineering divisions
are located at Kolkata and Bangalore. Apart from fine blanked components, the Bangalore unit Net Profit 369
manufactures motors for white goods and automotive applications. IFB Industries Ltd. comprises 2 Networth 433
divisions - fine blanking and home appliances, which was started in 1991. The appliances division
offers products to its customers both in domestic appliances and industrial applications. Its product Address
portfolio comprises of washing machines (domestic and industrial), dry cleaning and other finishing 14, Taratala Road,
equipment, dishwashers (industrial and domestic), clothes dryers, kitchen appliances (hobs, cooker Kolkata - 700088, WB
hoods and built-in ovens), refrigerators and air-conditioners, among others. The company also Website: www.ifbindustries.com
offers wash care products such as optical brighteners, stain removers, descaling agents and liquid
detergents and softeners. The company has service network of 650+ franchises and 2,832+ service
engineers.

12,765.8 497.3 3,659.4 1,016.5 8.0 3.9 13.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

D i v ersified
Diversified
Comparative Matrix

Company Name
1 Aditya Birla Nuvo Limited 91,197.1 5,276.9 84,730.6 5.8 6.2
2 DCM Shriram Limited 55,567.3 2,419.3 18,504.9 4.4 13.1
3 Balmer Lawrie & Co Limited 28,157.8 1,474.4 8,892.1 5.2 16.6

Aditya Birla Nuvo Limited
About the Company
Aditya Birla Nuvo Ltd (ABNL), a part of the Aditya Birla Group, came into existence in 1963 with the Top 500 Ranking
acquisition of Indian Rayon Corporation Ltd. In 2005, Indian Rayon rechristened as Aditya Birla Nuvo. Income 99
The company is diversified player with presence in financial services, fashion & lifestyle, telecom and
manufacturing. It has established operations in 36 countries across the six continents. It operates in Net Profit 120
the financial services segment through Aditya Birla Financial Services, which operates in businesses Networth 81
including; mutual fund, asset management, general insurance, private equity, broking and wealth
management among others. In the telecom space, it operates through Idea cellular, which has a Address
subscriber base of 166 mn across the country. It also operates in the linen, agri, rayon and insulators Indian Rayon Compound,
businesses through group entities namely; Indian Rayon, Indo Gulf and Jaya Shree Textiles among Veraval 362266, Gujarat
others. Some of its brands include; Louis Philippe, Van Heusen, Allen Solly and Peter England among Website: www.adityabirlanuvo.com
others. In FY15, ABNL entered housing finance business through Aditya Birla Housing Finance Ltd
and acquired the mutual fund schemes and portfolio accounts from ING Investment Management.

91,197.1 5,276.9 84,730.6 11,820.1 13.0 5.8 6.2
(As on Mar 31, 2015)
DCM Shriram Limited

About the Company
DCM Shriram Ltd (DCM) was incorporated in 1989. DCM is one of the leading business conglomerates Top 500 Ranking
with business portfolio mainly comprises into two segments: Agri-rural business and Chlor-Vinyl Income 149
business. The chlor-vinyl business is further diversified into chlor- alkali; comprising of caustic soda
(Lye and flakes), chlorine and associated chemicals including hydrochloric acid, stable bleaching Net Profit 201
powder, compressed hydrogen and sodium hypochlorite; and plastics; comprising of PVC resins Networth 211
and calcium carbide with captive production of acetylene, chlorine and coal based power located
at Kota. DCM Agri-rural business has three divisions: fertilizer, Shriram Farm Solution and bio- Address
seed. The agri business markets its products under the brand name Shriram Urea. It also operates 5th Floor, Kanchenjunga Building,
in the sugar business and operates four plants in UP with an aggregate capacity of 33,000 TCD. 18 Barakhamba Road,
Its cement business has a manufacturing capacity of 0.4 MMT and is located in Kota. Its Fenesta New Delhi - 110001, Delhi
Building Systems business is engaged in manufacturing UPVC windows (Un-plasticized PVC) and Website: www.dcmshriram.com
door systems under the brand Fenesta. Apart from these businesses, it also operates in the PVC
Compounding, textiles and Hariyali Kisan Bazaar.

55,567.3 2,419.3 18,504.9 4,169.0 7.5 4.4 13.1
(As on Mar 31, 2015)
Balmer Lawrie & Co Limited

About the Company
Balmer Lawrie & Co Ltd (Balmer Lawrie) was originally established in 1867 by two Scotsmen, Top 500 Ranking
George Stephen Balmer and Alexander Lawrie, as a partnership firm in Kolkata. Eventually it was Income 246
incorporated as a private limited company in 1924. It is a Mini-Ratna-I public sector enterprise,
under the Ministry of Petroleum & Natural Gas of the GoI. The company has six strategic business Net Profit 248
units industrial packaging, greases & lubricants, leather chemicals, travel & vacations, logistics Networth 312
and refinery & oil field services. The company is the largest producer of grease in India and among
the 10 largest grease manufacturers in Asia. It is also among the largest manufacturers of 200 Address
litres capacity steel drums in India. The company has six joint ventures in Indian and abroad, and a 21,
wholly-owned subsidiary in the UK. Its manufacturing plants for industrial packaging are located in Netaji Subhas Road,
Taloja Navi Mumbai, Asaoti, Kolkata, Chennai, Chittoor and Silvassa. BALMEROL is their premier Kolkata - 700001, WB
brand of industrial, automotive and specialty range of lubricants. The company markets syntanes to Website: www.balmerlawrie.com
leather tanneries across the country under the Brand name of Balmol.

28,157.8 1,474.4 8,892.1 2,403.5 8.5 5.2 16.6
(As on Mar 31, 2015)

Electrical & Electronics
Electrical & Electronics
Comparative Matrix

Company Name
1 Bharat Electronics Limited 73,206.1 11,666.7 78,843.4 15.9 14.8
2 Havells India Limited 52,909.0 4,649.4 23,672.0 8.8 19.6
3 Apar Industries Limited 50,282.2 481.1 6,335.8 1.0 7.6
4 Finolex Cables Limited 25,075.6 1,761.4 12,643.4 7.0 13.9
5 KEI Industries Limited 20,333.3 316.4 3,028.9 1.6 10.4
6 Honeywell Automation India Limited# 19,408.9 1,265.8 8,813.1 6.5 14.4
7 V-Guard Industries Limited 17,504.1 707.2 3,709.0 4.0 19.1
8 Shilpi Cable Technologies Limited 14,116.2 349.8 2,731.9 2.5 12.8
9 Eveready Industries India Limited 12,828.2 490.3 1,428.1 3.8 34.3

Bharat Electronics Limited
About the Company
Bharat Electronics Ltd (BEL), a PSU Navratna company, was incorporated in 1954. BEL operates in Top 500 Ranking
three segments; defence, non-defence and other services. BELs defence segment includes army Income 122
communication systems, naval systems, land based radars, avionics, electro optics, weapon systems,
simulators and batteries among others. Its non-defence segment includes e-governance systems, Net Profit 73
civilian radars, solar products and homeland security among others. BELs other services include Networth 84
electronic manufacturing services. In FY15, the order book position of the company stood at ` 216.2
bn, comprising major programs like Weapon Systems for Air Force & Army, Battlefield Surveillance Address
System, Command Information Decision Support System, Fire Control System and Gun / Tank Outer Ring Road,
Upgrades Communication Sets among others. Some of the new products introduced by BEL in FY15 Nagavara,
include; Surface Surveillance Radar, Lynx U1-MOD, Export Version of ULSB MKIII, SMARTPLUS, ACCS Bengaluru - 560045, Karnataka
for Submarine, Hand held Digital Compass and Commander TI Sights for AFV among others. Some Website: www.bel-india.com
of the major orders executed during FY15 include; Akash Missile Systems (Army, Airforce), Passive
Night Vision Devices (PNVD) to Army and Mobile Communication Terminal to NTRO among others.

73,206.1 11,666.7 78,843.4 16,207.6 22.1 15.9 14.8
(As on Mar 31, 2015)
Havells India Limited

About the Company
Havells India Ltd (Havells India) commenced trading operation in 1958. In June 2011, Havells India Top 500 Ranking
forayed into domestic appliances business. Havells India operates under four business segments Income 156
namely switchgears, cable, lighting & fixtures and electrical consumer durables. The company is
electrical and power distribution equipment manufacturer with products ranging from industrial Net Profit 134
and domestic circuit protection switchgears, cables, motors, pumps, fans, power capacitors, Networth 176
modular switches, water heaters, CFL lamps and luminaries & domestic appliances for domestic,
commercial &and Industrial applications. Havells India alongwith its subsidiaries owns global brands Address
like Crabtree, Sylvania, Concord, Luminance, Linotile and Standard. It operates eight international 1,
units and 11 manufacturing facilities Located in Dehli NCR, Alwar, Baddi, Faridabad, Haridwar, Raj Narain Marg,
Neemrana and Sahibabad. In Apr 2015, the company launched brightest LED lights LUMENO and Civil Lines,
energy efficient fan ES 40. In Jul 2015, Havells India launched innovative switchgear products like Delhi - 110054, Delhi
distribution boards and circuit breakers in eastern India and in Feb 2016, it launched its first Made- Website: www.havells.com
in-India MCBs and RCCBs under Euro-II series in UP.

52,909.0 4,649.4 23,672.0 7,454.8 14.1 8.8 19.6
(As on Mar 31, 2015)
Apar Industries Limited

About the Company
Apar Industries Ltd (AIL), a part of Apar Group is engaged in manufacturing of speciality oils & Top 500 Ranking
lubricants, aluminium & alloy conductors, electrical & telecom cables, ENI automotive lubricants Income 162
and polymers. AIL manufactures automotive lubricant under license agreement with ENI S.p.A,
Italy and markets them in India under the brand Agip. It manufactures and markets electrical & Net Profit 375
telecommunication cables in India under the brand name Uniflex. The company operates through Networth 365
its production facilities spread across four states viz Maharashtra, Gujarat, HP and Union Territory
of Dadra and Nagar Haveli. AIL has installed capacity of manufacturing 150,000 MTPA of conductors Address
and 442,000 KL of speciality oils. AIL has international presence across 100 countries in the Middle 301,
East, ASEAN, the Americas, Africa, Europe and Australia. As on Dec 31 2015, the conductor segments Panorama Complex,
and cables segments order book of AIL stood at ` 18.1 bn and ` 2.2 bn respectively. In Jul 2014, R. C. Dutt Road,
AIL made Apar Lubricants Ltd (ALL) as its wholly owned subsidiary and in Jan 2015, it amalgamated Vadodara - 390007, Gujarat
ALL with itself. Website: www.apar.com

50,282.2 481.1 6,335.8 1,632.3 3.2 1.0 7.6
(As on Mar 31, 2015)

Finolex Cables Limited
About the Company
Finolex Cables Ltd (Finolex Cables), the flagship company of the Pune-based Finolex Group, was Top 500 Ranking
established in 1958. The company is Indias largest manufacturer of electrical and telecommunication Income 267
cables. The company initially started with the manufacturing of PVC insulated electrical cables for
the automobile industry, eventually venturing into the business of providing a wide product range Net Profit 230
including PVC insulated industrial cables, FR-LSH PVC insulated industrial cables, PVC insulated Networth 267
single core and multicore flexible industrial cables, XLPE 3 core flat cables, PVC insulated winding
wires and 3-core flat cables, power and control cables, rodent-repellent multicore flexible industrial Address
cables, high voltage power cables (up to 33 kV), polyethylene insulated jelly-filled telephone cables, 26-27,
auto & battery cables, co-axial and CATV cables, switchboard cables, and many others. It has Mumbai - Pune Road,
manufacturing facilities at Pimpri and Urse in Pune as well as at Goa & Roorkee, Uttarakhand. During Pimpri, Pune - 411018, Maharashtra
FY15, the company launched the Finolex LED top-of-the-line LED lighting range. It also ventured into Website: www.finolex.com
the switchgears business and switches with the newly launched Finoswitch range. It also launched
the Touch Switch range which includes remote-controlled and voice-controlled switches.

25,075.6 1,761.4 12,643.4 3,400.3 13.6 7.0 13.9
(As on Mar 31, 2015)
KEI Industries Limited

About the Company
KEI Industries Ltd (KEI Industries) was incorporated in 1968, as a partnership firm under the name Top 500 Ranking
Krishna Electrical Industries. KEI Industries is engaged in manufacturing of electric cables and wires. Income 312
Its product portfolio include low, high tension and EHV cables, control and instrumentation cables,
rubber cables, thermocouple extension, marine & offshore cables, solar cables, flexible and house Net Profit 401
wires, winding and stainless steel wires. KEI Industries products meet the needs of sectors like Networth 456
power, automobiles, steel, cement, railways, fertilizers, textile and real estate. The company also
undertakes EPC business providing turnkey solutions in the field of power generation, distribution, Address
overhead transmission line and total cable solutions among others. It has its manufacturing D-90,
facilities at Alwar, Rajasthan and Silvassa, Dadra & Nagar Haveli. The company exports its products Okhla Industrial Area,
to countries including Algeria, Italy, France, Manila, Mexico, Turkey, Germany and Belgium amongst Phase - I, New Delhi - 110020, Delhi
others. In Dec 2015, KEI Industries bagged order worth ` 3.8 bn from PGCIL for supply and service Website: www.kei-ind.com
contracts for PACKAGE A & B under intergraded power development scheme works in Varanasi,
UP.

20,333.3 316.4 3,028.9 1,762.1 8.7 1.6 10.4
(As on Mar 31, 2015)
Honeywell Automation India Limited

About the Company
Honeywell Automation India Ltd (Honeywell) was incorporated in 1988. Headquartered in Pune, the Top 500 Ranking
company is primarily engaged in the business of providing automation and control systems, whether Income 325
or turnkey basis or otherwise. It has eight offices and 2,800 employees in India. Honeywell operates
through five business units. Accordingly, the process solutions segment pertains to distributed Net Profit 270
control systems (DCS), transmitters, programmable logic controllers, emergency shutdown systems Networth 313
(ESD), quality controls systems (QCS), process, business performance improvement solutions and
various value added services. Under the building solutions segment, Honeywell provides solutions Address
like HVAC, lighting, monitoring & control systems, fire detection & alarm systems, access control 56 & 57,
systems, surveillance and security systems, etc., apart from aftermarket services and maintenance Hadapsar Industrial Estate,
services. The environment & combustion control segment caters to commercial, hospitality and Pune - 411013, Maharashtra
industrial segments. The sensing & control segment provides sensors and switches to manufacturing Website: www.honeywellautomationindia.com
and automobile sectors. The exports business group endeavours to meet manufacturing and
engineering services needs in terms of leveraging the cost, skills and knowledge arbitrage.

19,408.9 1,265.8 8,813.1 1,556.2 8.0 6.5 14.4
(As on Mar 31, 2015)

V-Guard Industries Limited
About the Company
V-Guard Industries Ltd (V-Guard) was established in 1977 as a small manufacturing unit for voltage Top 500 Ranking
stabilizers. In 1996 the company acquired its present name. The company is primarily engaged in Income 344
manufacturing and marketing of electrical and electronic products. V-Guard has a wide range of
products including wiring cables, distribution boards, agricultural pumps, digital stabilizers pumps Net Profit 338
and motors, electric water heaters, digital UPS, induction cook tops, fans, wiring cables, LT cables, Networth 431
switchgears, mixer grinders, solar water heaters and electronic stabilizers amongst others. The
company has its manufacturing facilities located in the states of Uttarakhand, HP and TN. As on Address
Mar 31, 2015, V-Guard had a wide network of 536 distributors, 5,194 channel partners and over 42/962,
25,000 retailers across the country. In FY15, the company launched Pebble, a new premium variant Vennala High School Road,
of water heaters across the country. During the year, V-Guard also launched induction cooktops in Vennala, Kochi - 682028, Kerala
the state of TN. In Dec 2015, V-Guard set up a manufacturing unit of voltage stabilizers in the state Website: www.vguard.in
of Sikkim.

17,504.1 707.2 3,709.0 1,375.0 7.9 4.0 19.1
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 396
Shilpi Cable Technologies Net Profit 397
Limited Net Worth 466
Manish Goel, Managing Director
Mr. Goels views

Indias wires and cables market has transformed itself, from a small industry majorly dominated by unorganized players to a large and dynamic sector
where organized players capture 50-55% of market. The current market size of the Indian cables and wires industry is around INR 50,000 crores and
projected to grow at 7 8 % CAGR.
SCTL endeavours to be a billion dollar company by 2020. For this along with B2B business, we have also started servicing B2C segment by manufacturing
wires and cables which can be used in local household business, thereby expanding our customer base. We have plans to enter LED lighting vertical
in an aggressive way in current year under the brand SAFE. Last fiscal, the company generated revenue of ` 50 crore from retail sales and we are
expecting it to grow up further as more products are being added under the brand.
About the company Financial Snapshot (In ` mn)

Shilpi Cable Technologies Ltd (Shilpi) was incorporated in 2006 and is one of the leading Total Income 14,116.2
manufacturers of wires and cables, and caters to the automobile sector, telecom sector,
wiring harness sector and consumer durable sector amongst others. Key products of the Net Profit 349.8
company include RF cables, RF accessories, Automotive Wires, PVC insulated battery Networth 2,731.9
cables, photo volta cables, solar cables, power energy cables, telephone cables, wiring EBIDTA 1,024.4
harness and enamelled copper wires amongst others. The retail network of the company
Ratios (%)
includes more than 250 dealers and 2200 retailers spread across seventeen states and
over 50 towns. EBIDTA Margin 7.3
NPM 2.5
Shilpi caters to leading players across multiple segments such as like Bharti Airtel,
RONW 12.8
Vodafone, Idea Cellular, Ericsson, Nokia Networks, Honda Motorcycle and Scooter India
(As on Mar 31, 2015)
Ltd., Tata Motors, Minda Industries, Godrej Industries, Bajaj Appliances, Mahindra &
Mahindra, etc. Management Details
Chairman & Director
Portfolio Mukesh Kumar Gupta
Shilpis portfolio is primarily divided into five key segments - Telecom, Automotive, Managing Director
Wiring Harness, Business-to-Consumer and Conductor Wire. Mr Manish Goel
Telecom Shilpi is one of the leading manufacturer and supplier of the RF cable and Directors
RF accessories to all the top telecom operators, OEMs and other system integrators Ghanshyam Pandey
Sunil Kala
in India, South-east Asia and Middle East region. Moreover, Shilpi also serves in the
Sandeep Gupta
In-Building Solution (IBS) networks and is a key supplier and integrator for the IBS Hans Das Maheshwari
solutions. Malika Gupta
Automotive Shilpi is currently a Tier-2 supplier to the major OEMs in the Indian Vikas Gupta
automotive market. Shilpi manufactures automotive wires, battery cables in the ChitraSarkar
segment. Due to the continuous focus on efficiency and quality, Shilpi has continuously
been one of the biggest suppliers to HMSI for the Honda Activa scooters, for more
than 4 years. Moreover, it has successfully developed wires for the next generation
vehicles like CIVUS wires, T-3 wires, Aluminium Battery cables, etc. Address & Website
Wiring Harness It manufactures wiring harness for the industries like automotive, A-19/B-1 Extension,
white goods, consumer durable, medical, etc. Shilpi is serving through multi location Mohan Co-op. Industrial Estate,
Mathura Road,
facilities at three locations (Bhiwadi, Pune and Hosur) for serving the diverse range
P.O. Badarpur,
of industry primarily. With multi location facilities, Shilpi has the distinct advantage New Delhi - 110044,
of being close to customers and working closely with them for developments of the Delhi
new products. Website
Business-to-Consumer During 2014, Shilpi introduced new retail brand named www.shilpicables.com
SAFE Wires and Cables providing house wiring devices and switchgear solutions for

domestic appliances. The SAFE Wire & Cables product line includes wire & cable such as single core flexible FR/FR+ cable, 3 core
flat & multi core industrial cable, communication cables. Modular switches, circuit protection like MCB (miniature circuit breaker),
RCCB (Residual Current Circuit Breaker), isolator, change over, distribution boards. The company also plans to introduce LED lights
in the segment within the current financial year.
Conductor Wire Shilpi is one of the leading suppliers and exporters of the bunched wire and enameled wire to the transformer,
consumer durables, automotive, and white goods appliances industry. It manufacturers both aluminium and copper conductor
wire.
Manufacturing Units
The company has its manufacturing units located in Chopanki and Bhiwadi with an area of 10.5 acres. It has a capacity to produce more
than 10,80,000 km of wires and 18,000 km of RF feeder cable in a year. The units are equipped with availability of more than 95% of
power back up systems, effluent treatment plants and rain water harvesting systems in place.
Chopanki Unit
For its radio frequency corrugated feeder cables unit at Chopanki in Rajasthan, the company has sourced international standards
manufacturing technology from Rosendahl. It uses advance technique of Physical foaming along with Triple Layer Extrusion as this
helps in achieving higher percentage of foaming. Increased foaming percentage thereby reduces the chance of communication loss
while the cable is in use.
The auto wiring facility manufacturing Auto PVC insulated wires of Shilpi Cables is also situated at Chopanki. The unit uses best in class
automated manufacturing technology by Neihoff, maillfer. It also includes internal laboratory with all standardized testing equipments
like salt spray test, climate chamber, resistance tester, elongation, tensile testing, abrasion amongst others.
Bhiwadi Unit
The company develops and produces wide range of wiring harness for two wheelers, four wheelers and commercial vehicle segment;
it also manufactures components related to wiring harness. The unit has all state-of-art facilities like crimping machine, assembly line
for wire insertion and connector assembly, automated cutting & striping amongst others.
Key Updates
During 2015, Shilpi Cables launched Modular Plate & MCB (Miniature Circuit Breaker) series. The company also entered into a joint
venture with Eyecom Telecommunications Equipments Ltd, marking its foray in the next generation technology of Base Station
Antenna.
In May 2016, the company sought approval to expand its manufacturing operations to Abu Dhabi through its subsidiary by setting up
of having capacity of 60,000 metric tonne (MT) for manufacturing of copper products with an investment of US$ 150 million.
Overseas Operation
The company started its overseas operations in 2011 and is taking several steps to expand its geographic foot print with key focus on
emerging markets. The company is also partnering with technology providers to develop solutions to harness its Indian operational
expertise. For the financial year ending 2015-16 the companys consolidated annual turnover stands at ` 38,955 mn while on a
standalone basis the companys revenue from Indian operations stands at ` 19,058 mn. The company has also started operations in
Singapore and Hong Kong and is planning to enter markets of African region.
Chopanki Unit, Rajasthan, India Abu Dhabi Unit, UAE

Eveready Industries India Limited
About the Company
Eveready Industries India Ltd (Eveready) was incorporated in 1934. It is a flagship company of the Top 500 Ranking
Kolkata-based Williamson Magor Group. It is engaged in the manufacture of dry cell batteries, Income 422
rechargeable batteries, flashlights, packet tea and other general electrical products. The company
commands an over 50% share in the Indian market for batteries, and is the second largest producer Net Profit 374
of carbon-zinc batteries globally, with an offtake of over 1.3 bn batteries annually. Eveready holds Networth 496
around 70% of Indias organised flashlights market. It has also established its presence in general
lighting systems (GLS), compact fluorescent lamps (CFL) and LED lighting solutions. Furthermore, Address
the company also offers 60+ blends of tea. Its manufacturing facilities are located at Kolkata, 1, Middleton Street,
Noida, Haridwar, Chennai, Lucknow and Maddur (near Bangalore). It has sales office branches at Kolkata - 700071, WB
15 prominent centres across India and an extensive network of more than 4,000 distributors, 44 Website: www.evereadyindustries.com
closely knit nationwide distribution centres and more than 1,000 van servicing retailers. Its key
brands include Eveready Red, Power cell, Jaago, Eveready digiLeo, LAVA, TEZ Tea, and Uniross.

12,828.2 490.3 1,428.1 1,240.1 9.7 3.8 34.3
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

E nginering P ro j ect /
C apital G oods
Engineering Project/
Capital Goods
Comparative Matrix

Company Name
1 Bharat Heavy Electricals Limited 314,034.3 14,095.9 339,090.7 4.5 4.2
2 Siemens Limited 106,728.0 4,005.0 51,177.0 3.8 7.8
3 Punj Lloyd Limited 56,886.7 (5,066.6) 31,967.9 (8.9) (15.8)
4 Thermax Limited 48,082.2 3,359.4 22,413.1 7.0 15.0
5 Cummins India Limited 46,923.8 7,858.5 28,771.6 16.7 27.3
6 BGR Energy Systems Limited 33,665.0 421.5 13,401.7 1.3 3.1
7 Isgec Heavy Engineering Limited 33,197.3 1,431.9 7,204.5 4.3 19.9
8 BEML Limited 28,686.9 65.7 20,208.6 0.2 0.3
9 Kirloskar Oil Engines Limited 25,660.4 1,431.4 12,887.4 5.6 11.1
10 Lakshmi Machine Works Limited 24,911.5 2,169.4 12,524.4 8.7 17.3
11 AIA Engineering Limited 22,313.5 4,145.7 16,449.3 18.6 25.2
12 McNally Bharat Engineering Company Limited* 21,820.0 (1,142.2) 3,144.1 (5.2) (36.3)
13 Engineers India Limited 19,861.1 3,079.8 25,657.9 15.5 12.0
14 Greaves Cotton Limited 17,130.3 1,474.5 8,009.4 8.6 18.4
15 Sunil Hitech Engineers Limited 16,652.5 369.0 3,613.2 2.2 10.2
16 Kirloskar Brothers Limited 16,369.8 84.9 7,949.0 0.5 1.1
17 Fedders Lloyd Corporation Limited 13,191.0 401.8 3,847.6 3.0 10.4
18 VA Tech Wabag Limited 12,424.8 904.1 6,784.0 7.3 13.3

Bharat Heavy Electricals Limited
About the Company
Bharat Heavy Electricals Ltd (BHEL) was established in 1964 as a wholly-owned enterprise of the Top 500 Ranking
Government of India (GoI). The company was conferred with the status of a Maharatna in 2013. Income 37
It is an integrated power plant equipment manufacturer and one of the largest engineering and
manufacturing companies engaged in the design, engineering, manufacture, construction, testing, Net Profit 62
commissioning and servicing of a wide range of products and services for core sectors. It largely Networth 22
caters to sectors like power, transmission, industry, transportation (railways), renewable energy,
oil & gas and defence, with over 180 products offerings. As of Mar 2015, the company capacity for Address
manufacturing power plant equipment stood at 20,000 MW per annum. BHEL has vast network of BHEL House,
17 manufacturing units, two repair units, four regional offices, eight service centres, eight overseas Siri Fort,
offices, six JVs, 15 regional marketing centres and projects under implementation at more than 150 New Delhi - 110049, Delhi
sites across India and abroad. BHEL also has a widespread overseas footprint in 76 countries with Website: www.bhel.com
cumulative overseas installed capacity of 10,000 MW including Malaysia, Oman, Libya, Iraq, the
UAE, Bhutan, Egypt and New Zealand and a workforce of 47,525 employees.

314,034.3 14,095.9 339,090.7 33,089.8 10.5 4.5 4.2
(As on Mar 31, 2015)
Siemens Limited
About the Company
Siemens Ltd (Siemens) was incorporated in 1957 as Siemens Engineering and Manufacturing Top 500 Ranking
Company India Pvt Ltd. In 1987, it acquired its present name. Siemens offers a solution portfolio Income 84
consisting of industry-specific applications to optimize the performance of enterprises across the
entire value chain, sustainable solutions for energy generation, transmission, distribution and Net Profit 155
consumption, value-added services and consulting. The company has its business aligned into seven Networth 113
divisions namely power & gas, energy management, mobility, building technologies, digital factory,
process industries & drives and healthcare. In FY15, the company sold and transferred its metals Address
technologies business as a going concern on a slump sale basis to VAI Metals Technologies Pvt Ltd. 130, Pandurang Budhkar Marg,
In Oct 2015, Siemens signed MoU with IL&FS and GIFTCL to develop smart mobility solutions for Worli,
Gujarat International Finance Tec-City. In Jan 2016, the company won order worth ` 1.12 bn from Mumbai - 400018, Maharashtra
Rajasthan Rajya Vidyut Prasaran Nigam Limited for supply of air insulated substations and order Website: www.siemens.com
worth ` 1.55 bn from PSI International for supply of 420kV gas insulated switchgear for a greenfield
project.

106,728.0 4,005.0 51,177.0 19,169.0 18.0 3.8 7.8
(As on Sep 30, 2015)
Punj Lloyd Limited

About the Company
Punj Lloyd Ltd (Punj) was incorporated in 1988. Punj is engaged in the business of engineering, Top 500 Ranking
procurement and construction in the energy and infrastructure sectors. Punj caters to both domestic Income 143
and international markets presence across South Asia, Middle East, Africa and South East Asia.
The companys EPC business can be classified into five verticals namely; pipelines and tankages, Net Profit 496
process, offshore, power and buildings and infrastructure including; highways, mass rapid transport Networth 147
systems and railways). In FY15, the order backlog of the company stood at ` 211.5 bn, with major
contribution from the buildings and infrastructure vertical. Under pipeline and tankage segment, it Address
undertakes onshore projects that include work on field development and pipelines including cross- Punj Lloyd House,
country pipelines, construction of large scale tankage and terminal. It is also engaged in providing 17-18 Nehru Place,
engineering, procurement, fabrication and installation services for offshore wellhead and process New Delhi - 110019, Delhi
platforms, including topsides and jackets, risers, submarine pipelines, underwater cables and single Website: www.punjlloyd.com
buoy mooring systems. The company also operates a manufacturing facility at Malanpur, MP for
large sized precision machining and fabrication operations.

56,886.7 (5,066.6) 31,967.9 4,320.9 7.6 (8.9) (15.8)
(As on Mar 31, 2015)

Thermax Limited
About the Company
Thermax Ltd (Thermax) was incorporation in 1980. Thermax provides wide arrange of engineering Top 500 Ranking
solutions to the energy and environment sectors. The company provides a wide array of products, Income 166
which includes range boilers & fired heaters, generators, heat pumps, hybrid chillers, chiller
heater, heat recovery systems, electrostatic precipitators, construction chemicals, scrubbers, ion Net Profit 167
exchange resins, water treatment solutions, bagfilters and combofilter to name a few. The company Networth 187
operates globally through 19 international offices with headquarter in Pune, India. Thermax has
four domestic wholly owned subsidiaries, 17 overseas wholly owned subsidiaries and two JVs. Address
In FY15, the company launched new products namely Heat Transformer, a system for energy D-13, MIDC,
efficiency; BioCask, a compact sewage treatment plant for commercial complexes; Solar boiler that Industrial Area,
can be seamlessly integrated with other operating boilers. During the year, Thermax installed a R D Aga Road, Chinchwad,
fume extraction system of 240,000 m3 / hour capacity for hot metal pooling at a steel company in Pune - 411019, Maharashtra
Eastern India. In FY15, Thermax incorporated subsidiaries Thermax EngineeringSingapore Pte Ltd Website: www.thermaxglobal.com
and Thermax Senegal S.A.R.L.

48,082.2 3,359.4 22,413.1 5,808.5 12.1 7.0 15.0
(As on Mar 31, 2015)
Cummins India Limited

About the Company
Cummins India Ltd (Cummins), a subsidiary of Cummins Inc. was established in 1962 as a partnership Top 500 Ranking
between Kirloskar and Cummins Inc. In 1997, Cummins Inc. acquired full stake in the company Income 170
and acquired its present name. The company operates through business units namely industrial
engine, power generation, distribution, and automotive. The company is engaged in manufacturing Net Profit 93
diesel engines ranging from 65 HP to 3500 HP catering to construction, mining, compressor, marine, Networth 156
rail, agriculture, pumps, oil & gas, power generation and defense sectors. The power generation
segment offers pre-integrated generator sets, transfer switches, paralleling equipment and controls Address
while automotive segments offers diesel and natural gas engines with related technologies. In FY15, Cummins India Office Campus,
Cummins launched fit-for-market series of the QSK50 generator for the 1750 kVA to 1975 kVA Tower A, 5th Floor,
segment. The company also launched 14 ltrs electronic engine in the water well compressor segment Survey No. 21, Balewadi,
and 110HP engine in the construction segment. In Oct 2015, Cummins completed acquisition of Pune - 411045, Maharashtra
Cummins Svam Sales & Services Pvt Ltd making it a wholly owned subsidiary. Website: www.cumminsindia.com

46,923.8 7,858.5 28,771.6 10,171.1 21.7 16.7 27.3
(As on Mar 31, 2015)
BGR Energy Systems Limited

About the Company
BGR Energy Systems Ltd (BGR Energy) formally known as GEA Energy System (India) Limited was Top 500 Ranking
incorporated in 1985 and acquired its present name in 2007. BGR Energy is engaged in supply of Income 219
systems & equipments and turnkey engineering project contracting. In the turnkey engineering
project contracting, the company engineer, manufacture, procure, construct and commission Net Profit 381
projects in the power and oil & gas sector, wherein it supply a range of equipment and services, Networth 252
including the civil works required for a project. It operates under five divisions namely, air fin cooler,
environmental engineering, electrical projects, piping engineering and power projects / captive Address
power division. The company executes turnkey contracts to supply the BOP equipment, services A-5, Pannamgadu Industrial Estate,
and civil works for power generation projects and undertakes EPC contracts, in which it designs, Ramapuram Post,
engineers and supplies all of the equipment required for a power plant. In Nov 2015, BGR Energy Sullurpet Taluk,
received new orders worth ` 3 bn from NTPC and Transmission Corporation of Telangana Ltd in the Nellore - 524401, AP
electrical sub-stations through its electrical projects division. Website: www.bgrcorp.com

33,665.0 421.5 13,401.7 3,104.0 9.2 1.3 3.1
(As on Mar 31, 2015)

Isgec Heavy Engineering Limited
About the Company
Isgec Heavy Engineering Ltd (ISGEC) was incorporated in 1933. ISGEC is a diversified heavy Top 500 Ranking
engineering company which is engaged in manufacturing of process plant equipments, mechanical Income 223
and hydraulic presses and castings, contract manufacturing and execution of projects for setting
up boilers, sugar Plants, power Plants and air pollution control equipments for customers in India Net Profit 255
and abroad. ISGEC has its manufacturing facilities located in the states of Haryana, Gujarat and UP. Networth 353
ISGEC has several technology tie-ups with companies like ABB Lummus Heat Trasfer, US; Belleli, Italy;
Hitachi Zosen Corp., Japan; Bosch projects, South Africa and Envirotherm GmbH, Germany amongst Address
others. In Apr 2015, the company entered into JV with Amec Foster Wheeler North America Corp., Radaur Road,
US to incorporate Isgec Foster Wheeler Boilers Pvt ltd to provide design engineering services for Yamunanagar - 135001, Haryana
fossil fuel boilers. In Jun 2015, ISGEC incorporated a JV with Titan Metal Fabrications Inc. USA in Website: www.isgec.com
the name of Isgec Titan Metal Fabricators Pvt Ltd to undertake metal fabrication of various types of
equipments in metallurgy like Titanium and Tantalum.

33,197.3 1,431.9 7,204.5 3,062.0 9.2 4.3 19.9
(As on Mar 31, 2015)
BEML Limited
About the Company
BEML Ltd (BEML), formerly known as Bharat Earth Movers Ltd, was established in May 1964 as a Top 500 Ranking
public sector undertaking for the manufacture of rail coaches and spare parts and mining equipment Income 244
at its Bangalore complex. The company is Asias second-largest manufacturer of earth moving
equipment, and controls about 70% of the Indian market in that sector. It is engaged in three major Net Profit 457
business verticals, viz. Mining & Construction, Defence and Rail & Metro. BEML manufactures a Networth 200
variety of heavy equipment used for earth moving, transport and mining, which includes bulldozers,
dump trucks, hydraulic excavators, wheel loaders, rope shovels, walking draglines, motor graders Address
and scrapers, integral railcoaches, electric multiple units, rail buses, track laying equipment and BEML Soudha,
overhead equipment Inspection cars. It has manufacturing plants in Kolar Gold Fields (KGF), No. 23 / 1, 4th Main,
Bengaluru, Palakkad and Mysore. Its products are exported to more than 56 countries. In FY15, S R Nagar,
more than 55% of the companys sales turnover came from the sale of in-house developed R&D Bengaluru - 560027, Karnataka
products. Website: www.bemlindia.com

28,686.9 65.7 20,208.6 1,295.6 4.5 0.2 0.3
(As on Mar 31, 2015)
Kirloskar Oil Engines Limited

About the Company
Kirloskar Oil Engines Ltd (KOEL), flagship company of the Pune-based Kirloskar group, was Top 500 Ranking
incorporated in 1946. The company is engaged in the manufacture of diesel engines, agricultural Income 264
pump sets and power generating sets. In the power generation business, KOEL specializes in the
manufacture of both air-cooled and liquid-cooled diesel engines and generating sets across a wide Net Profit 256
range of power output from 5kVA to 3000kVA. The companys Kirloskar Green Genset features Networth 262
among the leading and most preferred brands n the power generation and telecom industry in
India. The large engines business group manufactures and markets diesel engines in the range of Address
2,400 hp to 11,000 hp. The industrial engine business groups activities are customized according Laxmanrao Kirloskar Road,
to the needs of customers who require products from 20 hp to 800 hp. It manufactures a variety of Khadki,
quality diesel engines powering more than 85 industrial engine applications across seven sectors. Pune - 411003, Maharashtra
The company has a large presence in international markets, with offices in Dubai, South Africa, Website: www.koel.kirloskar.com
Kenya and representatives in Indonesia and Nigeria. Its advanced manufacturing units are located
in Pune, Nashik, Rajkot and Kolhapur.

25,660.4 1,431.4 12,887.4 3,075.3 12.0 5.6 11.1
(As on Mar 31, 2015)

Lakshmi Machine Works Limited
About the Company
Lakshmi Machine Works Ltd (LMW) was incorporated in 1962. It is a global player and one among Top 500 Ranking
the few manufacturers that produce the entire range of textile spinning machinery from blow room Income 271
to ring spinning. The company is engaged in the manufacture of textile spinning machinery, CNC
machine tools, heavy castings, parts and components for the aerospace industry. LMW holds more Net Profit 209
than 60% market share in the domestic textile spinning machinery industry. The company forayed Networth 270
into the foundry machinery segment in 1968. It recently ventured into the machine tools space
and is among the leading players in India with respect to the manufacture of customized products. Address
LMW foundry makes precision castings for industries the world over. It has an advanced technology Perianaickenpalayam,
centre to produce components for the aerospace industry, including steel metal & special processes, SRK Vidyalaya Post,
engine and landing gear parts and structural parts. LMW also operates 28 windmills which are able Coimbatore - 641020, TN
to generate 36.8 MW of captive power. It has a wholly owned subsidiary in China named LMW Website: www.lakshmimach.com
Textile Machinery (Suzhou) Co Ltd to manufacture spinning machinery.

24,911.5 2,169.4 12,524.4 3,851.3 15.5 8.7 17.3
(As on Mar 31, 2015)
AIA Engineering Limited

About the Company
AIA Engineering Ltd (AIAE) was commenced the manufacturing of wear parts for cement and power Top 500 Ranking
plant in 1979. In 1991, the company entered into a collaboration agreement with Magotteaux Income 293
International S.A., Belgium and got terminated in 2000. AIAE operates in manufacturing and
marketing of high chromium consumable wear parts. In January 2016, AIAE commenced the First Net Profit 148
Phase of Commercial Production under Greenfield Project at GIDC, Kerala, Gujarat. In FY15, exports Networth 223
accounted for 72% of the companys sales. In FY15, the companys effective capacity reached
260,000 Metric Tonnes after successful commission of Moraiya brownfield expansion project. Address
115, GVMM Estate,
Odhav Road,
Odhav,
Ahmedabad - 382410, Gujarat
Website: www.aiaengineering.com

22,313.5 4,145.7 16,449.3 6,462.5 29.0 18.6 25.2
(As on Mar 31, 2015)
McNally Bharat Engineering Company Limited

About the Company
McNally Bharat Engineering Company Ltd (MBE) was incorporated in 1961 as a JV between McNally Top 500 Ranking
Pittsburgh, US and Bird & Co, UK in the name McNally Bird Engg Co Ltd. The company acquired Income 298
its present name in 1972. MBE is engaged in the business of providing turnkey solutions in the
areas of power, steel, aluminum, material handling, and mineral beneficiation among others. In Net Profit 488
FY 2015, the company completed the construction of Civil Foundation & Structural Steel Work for Networth 449
6X150MW Captive Power Plant at Mahan Aluminum Project of Hindalco. During FY 15, the some
of the major projects received by the company are, Land Mark work for Nabinagar CW and make Address
up water package for ` 350 crores, Petcoke handling plant for Chennai Petroleum Corporation Lts 4 Mangoe Lane,
for ` 228.46 crores, and construction of Residential Accommodation at BD Bari, Jummu, Janglot, Kolkata- 700001, West Bengal
Ratnachuk for DGMAP at a contract value of ` 144.19 crores. Website: www.mcnallybharat.com

21,820.0 (1,142.2) 3,144.1 1,254.2 5.7 (5.2) (36.3)
(As on Mar 31, 2015)

Engineers India Limited
About the Company
Engineers India Ltd (EIL), a Navratna company was incorporated in 1965. EIL is an engineering Top 500 Ranking
consultancy firm providing design, engineering, procurement, construction and integrated project Income 318
management services. It focuses on the oil, gas and petrochemicals industries in India and abroad.
EIL also operates in sectors including water & waste management, solar & nuclear power and Net Profit 180
fertilizers. It also provides specialist services such as heat and mass transfer equipment design, Networth 170
environmental engineering, specialist materials and maintenance and plant operations and safety
services. EIL has overseas presence through offices in Abu Dhabi, London, Milan and Shanghai. Address
Since inception, EIL has undertaken design and engineering of 60 refinery projects, 9 petrochemical Engineers India Bhavan, 1,
complexes, 39 oil and gas processing projects, over 40 offshore process platforms, 42 pipeline Bhikaji Cama Place,
projects, 13 ports and storage and terminal projects, 8 fertilizer projects and 29 mining & metallurgy New Delhi - 110066, Delhi
projects. In FY15, the company secured order worth ` 335 mn taking the order book position to Website: www.engineersindia.com
` 355 mn as on Mar 31 2015.

19,861.1 3,079.8 25,657.9 4,874.2 24.5 15.5 12.0
(As on Mar 31, 2015)
Greaves Cotton Limited

About the Company
Greaves Cotton Ltd (Greaves Cotton) was founded in 1859 by James Greaves and George Cotton. Top 500 Ranking
In 1937, Greaves Cotton entered into a JV with Crompton Parkinson, England to introduce ceiling Income 347
fans and electrical products. The company is engaged in manufacturing of engines and engine
applications and trading of power tillers, spares related to engines and construction equipment Net Profit 247
etc. Greaves Cotton operates in four business segments viz. automotive engines, auxiliary power, Networth 330
farm equipment and industrial engines. The company has 11 manufacturing facilities located in
Maharashtra and TN and overseas offices in UAE, Tanzania and China. Greaves Cotton export its Address
products to Middle East, Africa and South East Asia. Greaves Cotton also undertakes non-banking 3rd Floor, Motilal Oswal Tower,
finance business through its subsidiary Greaves Leasing Finance Ltd and trading and after sales Junction of Gokhale & Sayani Road,
services of the its products in the Middle East and the North African countries through step-down Prabhadevi,
subsidiary Greaves Cotton Middle East FZC, UAE. In Sep 2015, Greaves Cotton launched new range Mumbai - 400025, Maharashtra
of farm equipment products Mini Power Tiller (7 HP) and Paddy Weeder under its Sampurna Website: www.greavescotton.com
Swadeshi Programme.

17,130.3 1,474.5 8,009.4 1,580.3 9.2 8.6 18.4
(As on Mar 31, 2015)
Sunil Hitech Engineers Limited

About the Company
Sunil Hitech Engineers Ltd (SHEL) was established as Sunil Engineering Works in 1984. In 1998, Top 500 Ranking
the company was incorporated and acquired its present name in 2005. The company is engaged Income 355
in the BOP (balance-of-plant) and EPC services for power plants. The three main segments of the
company include; project, overhauling & maintenance and project supply. It provides an array Net Profit 395
of services such as fabrication, erection and commissioning of power plant and infrastructure Networth 436
equipment. The company supports various projects such as EPC/turnkey projects for highway &
urban development, civil, structural and architectural works, fabrication and erection of heavy Address
structures, EHV transmission, distribution network, manufacturing of super heater and re-heater Ratnadeep,
coils and renovation of boilers and auxiliaries. SHEL also has a wide range of civil, structural and Jaynagar, Parli - Vaijnath,
architectural equipment which are designed and fabricated to simplify end-to-end customer Dist Beed - 431520, Maharashtra
needs. As on Mar 31, 2015, the order book of SHEL stood at ` 35.8 bn. In Mar 2015, it bagged Website: www.sunilhitech.com
the Madhugiri Chikkaballapura-Mulbagal Road project worth ` 1.2 bn from the Ministry of Road
Transport & Highways, GoI.

16,652.5 369.0 3,613.2 1,348.1 8.1 2.2 10.2
(As on Mar 31, 2015)

Kirloskar Brothers Limited
About the Company
Kirloskar Brothers Ltd (KBL), a flagship company of the Kirloskar group, was incorporated in 1920. Top 500 Ranking
In 2003, KBL acquired SPP Pumps UK and in the year 2007 it acquired The Kolhapur Steel Ltd. KBL Income 361
provides complete fluid management solutions for infrastructure projects in areas of water supply,
power plant, irrigation, oil & gas and marine & defence amongst others. The company is primarily Net Profit 454
engaged in engineering and manufacturing of industrial pumps, agriculture pumps, domestic Networth 331
pumps, valves, mobile pump controller, packaged systems, motors and hydro turbines. Various
kinds of pumps manufactured by KBL includes end suction pump, split case pump, Monobloc Address
pump, sumb pump, multistage pump and submersible pump amongst others. KBL operates six Udyog Bhavan,
manufacturing facilities located in Maharashtra, MP, Gujarat and TN. The company has global Tilak Road,
presence in African, Asian, Europe, Middle East, and US markets. In FY15, KBL launched i-CAN Pune - 411002, Maharashtra
series of pumps, designed to reduce maintenance time and total cost of ownership (TCO) for SSIs. Website: www.kirloskarpumps.com
During the same period, it launched i-NS pump, ideal for dewatering function in the water &
wastewater treatment industries, sewage, building & construction.

16,369.8 84.9 7,949.0 888.2 5.4 0.5 1.1
(As on Mar 31, 2015)
Fedders Lloyd Corporation Limited

About the Company
Fedders Lloyd Corp Ltd (Fedders Lloyd), part of the Lloyd Group, was incorporated in 1957 to Top 500 Ranking
engage in the business of providing climate control equipment in India. The company initially Income 418
started trading business of AC units and eventually started manufacturing them. The company
primarily operates under three business segments - environmental control systems, steel structure Net Profit 384
& engineering and power projects. Fedders Lloyds environment control systems division provides Networth 424
HVAC equipment to defence, railways, telecom and other specialised application systems. Its steel
structure & engineering division manufactures structural steel buildings, while its power project Address
division undertakes power transmission and sub-station projects as an EPC contractor in both, the Dist. Gautam Budh Nagar,
domestic as well as international markets. During the year ended Jun 2015, the company ventured Noida - 201305, UP
into the solar power business, which will involve providing solar products and turnkey solar EPC Website: www.fedderslloyd.com
solutions to customers in India, SAARC, the Middle East and African countries. As of Jun 2015, the
companys total thermal installed capacity stood at 189.3 GW, while its hydro and renewable energy
installed capacity stood at 41.6 GW and 35.8 GW, respectively.

13,191.0 401.8 3,847.6 1,288.7 9.8 3.0 10.4
(As on Jun 30, 2015)
VA Tech Wabag Limited

About the Company
VA Tech Wabag Ltd (Wabag), a part of The WAKAG Group was incorporated in 1996. The company Top 500 Ranking
offers the entire WABAG Group portfolio in the areas of municipal and industrial water and Income 431
wastewater treatment. The company provides complete water solutions including conceptual
& process engineering, design & engineering, equipment supply, procurement & construction, Net Profit 309
erection & commission and operation & maintenance. Wabag provides turnkey solutions in the areas Networth 358
of drinking water treatment, industrial waste water treatment, municipal waste water treatment,
industrial & process water treatment, desalination and recycling of industrial and municipal waste Address
water. Some of the projects executed by Wabag in FY15 include Reliance Dahej PTA waste water Wabag House, No. 17, 200 Feet Thoraipakkam
treatment plant, Pappankalan STP for Delhi Jal Board, Reliance Hazira effluent recycle plant and Pallavaram Main Road,
plant water system for Durgapur Project Ltd amongst others. As on Mar 31 2015, the companys Sunnambu Kolathur,
order book position stood at ` 54.4 bn. In Jul 2015, the company along with its JV, Belhasa Projects Chennai - 600117, TN
received an EPC order in the water and waste water treatment space in Bahrain valued at ` 5.8 bn. Website: www.wabag.com

12,424.8 904.1 6,784.0 1,583.8 12.7 7.3 13.3
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
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(As on Mar 31, 2015)

Fertilisers
Fertilisers
Comparative Matrix

Company Name
1 Coromandel International Limited 113,408.6 4,070.8 21,497.3 3.6 18.9
2 Tata Chemicals Limited 102,768.1 8,557.4 60,262.4 8.3 14.2
3 Chambal Fertilisers and Chemicals Limited 90,172.1 3,438.0 22,431.8 3.8 15.3
4 National Fertilizers Limited 85,617.6 262.4 14,544.1 0.3 1.8
5 Rashtriya Chemicals and Fertilizers Limited 77,878.1 3,216.9 27,041.6 4.1 11.9
6 Zuari Agro Chemicals Limited 55,563.1 123.7 7,755.2 0.2 1.6
7 Gujarat State Fertilizers & Chemicals Limited 54,265.1 4,005.1 44,547.8 7.4 9.0
Gujarat Narmada Valley Fertilizers & Chemicals
8 46,932.6 (1,220.7) 24,546.6 (2.6) (5.0)
Limited
Deepak Fertilisers and Petrochemicals
9 37,500.5 787.0 15,187.9 2.1 5.2
Corporation Limited
10 Mangalore Chemicals and Fertilizers Limited 25,902.5 375.4 5,830.5 1.4 6.4

Coromandel International Limited
About the Company
Coromandel International Ltd (Coromandel) is a flagship company of the Murugappa Group and Top 500 Ranking
is a subsidiary of E.I.D. Parry (India) Ltd. Coromandel has a diversified business which can be Income 79
classified into four segments: fertilisers, specialty nutrients, crop protection and retail. Under the
fertilizer segment the company manufactures a wide range of fertilisers in segments viz. nitrogen, Net Profit 153
phosphatic and potassic in various grades. Under the crop protection business Coromandel Networth 191
produces insecticides, fungicides, herbicides and bio stimulants. The speciality nutrients division
offers secondary and micro nutrients and water soluble fertilisers. The company has also ventured Address
into the retail business with setting up around 800 Mana Gromor and Namma Gromor retail centers Coromandel House,
in the states of AP, Telangana and Karnataka. In FY15, Coromandel entered into JV with Yanmar Co 1-2-10, Sardar Patel Road,
Ltd and Mitsui & Co (Asia Pacific) Pte Ltd to form a company, Yanmar Coromandel Agrisolutions Pvt Secunderabad 500003, Telangana
Ltd to engage in the business of manufacture, sales and after-sales service of agricultural machinery. Website: www.coromandel.biz
During the year, the company also completed merger of Sabero Organics Gujarat Ltd with itself.

113,408.6 4,070.8 21,497.3 8,991.2 7.9 3.6 18.9
(As on Mar 31, 2015)
Tata Chemicals Limited

About the Company
Tata Chemicals Ltd (Tata Chemicals) was incorporated in the year 1939. In 1943, Tata Chemicals Top 500 Ranking
commenced production of caustic soda, liquid chlorine, bleaching powder & other chemicals and Income 90
the following year commenced production of soda ash. Tata Chemicals classifies its products under
three divisions viz. living essentials, industry essentials and farm essentials. Under living essential it Net Profit 87
produces basic products for daily living, such as salt, sodium bicarbonate or baking soda products Networth 103
and water-related products. Under industry essential, Tata Chemicals produces soda ash, allied
chemicals, industrial salt and cement which are essential inputs for diverse industries across the Address
glass, detergents, mining and chemical processing sectors. Under farm essentials, the company Bombay House, 24,
produce farm inputs such as fertilisers, pesticides, specialty nutrients, seeds and agri-services. Homi Mody Street,
Some of the major brands of the company include Tata Paras, Fateh, Manik, Tata Salt Lit, Aquex, Fort, Mumbai 400001, Maharashtra
Crex, Sodakarb and Dessikarb amongst others. In FY15, Tata Chemicals produced 0.8 MMT of soda Website: www.tatachemicals.com
ash, 93,950 MT of sodium bicarbonate, 444,834 MT of OPC, 1.3 MMT of urea and 0.9 MMT of
complex fertilisers.

102,768.1 8,557.4 60,262.4 12,335.8 12.0 8.3 14.2
(As on Mar 31, 2015)
Chambal Fertilisers and Chemicals Limited

About the Company
Chambal Fertilisers and Chemicals Ltd (Chambal Fertilisers) was promoted by Zuari Industries Ltd Top 500 Ranking
in 1985. The company commissioned its first urea plant in 1993 followed by second plant in 1999 Income 102
in Rajasthan. In 2004, the company entered into shipping business and acquired India Steamship
Company Ltd. Chambal Fertilisers has diversified business across two main segments viz fertiliser Net Profit 166
and agri-inputs and shipping. The companys fertiliser segment includes manufacturing and Networth 186
marketing of urea and single super phosphate (SSP) and trading of fertilisers and other agri-inputs
like diammonium phosphate, murate of potash, pesticides and seeds under the brand Uttam. Address
In FY15, Chambal Fertilisers produced 1.8 MMT and 1.3 MMT of urea and SSP respectively and Gadepan,
sold 1.8 MMT and 1.6 MMT of urea and SSP respectively. Its manufacturing plant is located in Kota - 325208, Rajasthan
Kota, Rajasthan. The companys fertilisers and agri inputs segment account for more than 85% of Website: www.chambalfertilisers.com
its overall revenue. Under shipping segment, the company owns and operates Aframax tankers
through India Steamship Company Ltd.

90,172.1 3,438.0 22,431.8 7,269.3 8.1 3.8 15.3
(As on Mar 31, 2015)

National Fertilizers Limited
About the Company
National Fertilizers Ltd (NFL), a Mini Ratna (Category-1) undertaking, was incorporated in Aug 1974. Top 500 Ranking
NFL is engaged in manufacturing of fertilisers, industrial products and other agri business. The Income 107
company has five gas based urea plants viz. Nangal & Bathinda in Punjab, Panipat in Haryana and
two plants at Vijaipur in district Guna, MP. NFL sells its products including urea, neem coated urea, Net Profit 418
bio-fertilisers (solid & liquid) under the brand, KISAN. Besides, the company also manufactures Networth 235
allied industrial products such as nitric acid, ammonium nitrate, ammonium nitrite, sodium nitrite
& sodium nitrate. The company has wide spread presence across 17 states and union territories. Address
In Jan 2015, NFL, Engineers India Ltd (EIL) and Fertilizer Corporation of India Ltd (FCIL) formed a Scope Complex, Core-III,
JV to set up new ammonia and urea plants of 2,200 MT per day and 3,850 MT per day capacity 7 Institutional Area,
respectively at Ramagundam Fertilizer Plant in Karim nagar in Telangana. In FY15, NFL achieved Lodhi Road,
a production of 3.6 MMTS of urea, including 1.3 MMTS of neem coated urea, achieving a capacity New Delhi - 110003, Delhi
utilisation of more than 100%. Website: www.nationalfertilizers.com

85,617.6 262.4 14,544.1 4,186.4 4.9 0.3 1.8
(As on Mar 31, 2015)
Rashtriya Chemicals and Fertilizers Limited

About the Company
Rashtriya Chemicals and Fertilizers Ltd (RCF), a GoI undertaking, was established in 1978 Top 500 Ranking
consequent to the reorganization of Fertilizer Corporation of India (FCI). The GoI owns 80% of Income 115
its paid up share capital and has accorded it with Mini- Ratna status. RCF is one of the leading
fertilizers and chemicals manufacturing company. Its offerings include; urea, complex fertilizers, Net Profit 170
bio-fertilizers, micro-nutrients, 100 per cent water soluble fertilizers, soil conditioners and a wide Networth 160
range of industrial chemicals. Apart from the own manufactured products, the company is also
involved in marketing of SSP and imported fertilizer inputs such as DAP, MOP & NPK fertilizers. The Address
company markets its products under the brand Ujjwala (urea) and Suphala (complex fertilizers). It Priyadarshini
operates two manufacturing units, one at Trombay, Mumbai and the other at Thal, Raigad district. Eastern Express Highway, Sion
In FY15, the company produced 3.25 MMT of fertilisers and 0.15 MMT of various major industrial Mumbai - 400022
chemical products. In Oct 2015, RCF entered into a JV with CIL, GAIL and FCL for incorporation of Maharashtra
Rashtriya Coal Gas Fertilizers Ltd to establish and operate new coal gasification based Fertilizer at Website: www.rcfltd.com
Talcher, Odisha.

77,878.1 3,216.9 27,041.6 8,498.8 10.9 4.1 11.9
(As on Mar 31, 2015)
Zuari Agro Chemicals Limited

About the Company
Zuari Agro Chemicals Ltd (ZACL) was incorporated in 2009 as Zuari Holdings Ltd. In 2012, the company Top 500 Ranking
acquired its present name. ZACL produces high-quality complex fertilisers of various grades along Income 150
with seeds, pesticides, micro nutrients, and specialty fertilisers. The company also undertakes
trading of complex fertilizers, water soluble fertilizers, pesticides and seeds. The company markets Net Profit 449
its products under the brand name - Jai Kisaan. The company operates a fertilizer manufacturing Networth 338
facility at Goa, which comprises of four separate plants, namely ammonia, urea, NPK A and NPK B.
It operates with an annual installed capacity of producing 1.06 MMTPA of fertilizer. In FY15, ZACL Address
sold 1.58 MMT of fertilizers, 13,753 MT of speciality fertilizers and 221,940 MT of DAP. In May 2015, Jai Kisaan Bhawan,
the company made Mangalore Chemicals and Fertilizers Ltd as a subsidiary by acquiring its shares Zuari Nagar - 403726, Goa
through a wholly owned subsidiary, Zuari Fertilizers and Chemicals Ltd and in Dec 2015, Zuari Rotem Website: www.zuari.in
Speciality Fertilizers Ltd became subsidiary of ZACL.

55,563.1 123.7 7,755.2 2,002.3 3.6 0.2 1.6
(As on Mar 31, 2015)

Gujarat State Fertilizers & Chemicals Limited
About the Company
Gujarat State Fertilizers & Chemicals Ltd (GSFC) was incorporated in 1962 and started production of Top 500 Ranking
fertilisers in the year 1967. GSFC mainly operates in two business segments viz. fertilizer products Income 152
and industrial products. Fertilizer products (61.75% of FY15 revenue) include urea, ammonium
sulphate, DAP, ammonium phosphate sulphate, gypsum and water soluble fertilisers amongst Net Profit 154
others. Industrial products (38.25% of FY15 revenue) comprise caprolactam, nylon-6, oleum, Networth 123
sulphuric acid, methanol and anhydrous ammonia to name a few. The company also undertakes
trading of pesticides. GSFC produces and markets its products under the brand name Sardar. The Address
manufacturing facilities of the company are located at Vadodara, Surat and Jamnagar in Gujarat. P O Fertizernagar,
In FY15 GSFC produced 1.38 MMT of fertilisers and sold 1.32 MMT of fertilisers. During the year, Vadodara Gujarat 391750
the company commissioned a 40,000 MTPA Melamine project at Vadodara. In FY15, the company Website: www.gsfclimited.com
formed a new subsidiary company GSFC Agrotech Limited to carry out production activity of Sardar
Liquid Biofertilizers viz. Azotobacter, Azospirillum, & Phosphate Solubilizing Bacteria with technology
know-how from Anand Agricultural University.

54,265.1 4,005.1 44,547.8 6,896.7 12.7 7.4 9.0
(As on Mar 31, 2015)
Gujarat Narmada Valley Fertilizers & Chemicals Limited

About the Company
Gujarat Narmada Valley Fertilizers & Chemicals Ltd (GNFC) was incorporated in 1976. GNFC is a Top 500 Ranking
joint sector enterprise promoted by the Govt of Gujarat and the GSFC. GNFC operates in three Income 169
business segments viz fertilizers, chemicals and information technology. The fertilizers division
manufactures and sells products like urea, neem urea, single super phosphate, ammonium Net Profit 489
nitrophosphate and calcium ammonium nitrate under the brand name Narmada. The chemical Networth 174
division manufactures chemicals and petrochemicals like acetic acid, methanol, formic acid, calcium
carbonate, nitrobenzene, aniline and weak nitric acid amongst others. The IT division provides Address
services like e-procurement services, e-governance, data centres, digital certificates and cloud Narmada House,P.O.
computing to name a few under the brand name (n)Code Solutions. The company has an installed Narmadanagar,
capacity of producing 0.45 MMTPA of ammonia, 0.64 MMTPA of urea, 0.14 MMTPA of ammonium Bharuch - 392015, Gujarat
nitrophosphate, 0.14 MMTPA of calcium-ammonium nitrate and 0.19 MMTPA of methanol-I. In Website: www.gnfc.in
FY15, GNFC produced 0.62 MMT of ammonia, 0.71 MMT of urea and 0.21 MMT of ammonium
nitrophosphate.

46,932.6 (1,220.7) 24,546.6 259.5 0.6 (2.6) (5.0)
(As on Mar 31, 2015)
Deepak Fertilisers and Petrochemicals Corporation Limited

About the Company
Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) was incorporated in 1979 as an Top 500 Ranking
ammonia manufacturer. DFPCL has wide range of products portfolio ranging from industrial Income 205
chemicals, bulk and specialty fertilisers, farming diagnostics and solutions, technical ammonium
nitrate, mining services and consulting and value added real estate. The company produces Net Profit 327
wide range of fertilisers consisting of bulk and high-end speciality fertilisers marketed under the Networth 231
brand Mahadhan, Bhoodhan and Mahapower. The product portfolio of DFPCL includes technical
ammonium nitrate (TAN), nitro phosphate fertiliser (NPK), di-ammonium phosphate, ammonium Address
sulphate, methanol, propane and dilutes nitric acid amongst others. DFPCL undertakes farm Opp Golf Course,
produce business through Desai Fruits and Vegetables Pvt Ltd focusing on banana plantation, and Shastri Nagar,
contract farming for grapes, onions and pomegranates. In FY15, the company produced 38,989 MT Yerawada, Pune - 411006, Maharashtra
of NPK, 303,721 MT of TAN, 50,143 MT of ammonia and 428,662 MT of dilute nitric acid. In FY15, Website: www.dfpcl.com
DFPCL through its subsidiary Smartchem Technologies Ltd incorporated Platinum Blasting Services
Pty Ltd to acrry out mining services in Brisbane, Australia.

37,500.5 787.0 15,187.9 3,333.2 8.9 2.1 5.2
(As on Mar 31, 2015)

Mangalore Chemicals and Fertilizers Limited
About the Company
Mangalore Chemicals and Fertilizers Ltd (MCF) was originally incorporated in 1966 as Malabar Top 500 Ranking
Chemicals & Fertilizers Ltd, eventually acquiring its present name in 1971. The company is engaged Income 260
in the manufacture and sale of chemical fertilizers like urea, di-ammonium phosphate and complex
fertilizers, ammonium bi-carbonate, sulphonated naphthalene formaldehyde, plant nutrition Net Profit 393
products and plant protection chemicals. The company caters primarily to three segments, namely Networth 376
fertilizers, plant nutrition and plant protection chemicals. Previously a part of the UB Group, the
company became a subsidiary of the Adventz Groups Zuari Fertilizers and Chemicals Ltd in May 2015. Address
MCF has one manufacturing facility located at Penambur, Mangalore in Karnataka, which is well Level 11, UB Tower,
connected by rail and road. MCF has capacity to manufacture 2,17,800 MT of ammonia (intermediate UB City, 24,
product), 379,500 MT of urea, 280,000 MT of phosphatic fertilizers, 24,750 MT ammonium bi- Vittal Mallya Road,
carbonate, 33,000 MT sulphuric acid, 21,450 MT sulphonated naphthalene formaldehyde (SNF) Bengaluru - 560001, Karnataka
and 22,000 MT specialty fertilizers annually. In FY15, the company launched an insecticide named Website: www.mangalorechemicals.com
Mangala Ace, and a spray adjuvant under the brand name Mangala Superspreader.

25,902.5 375.4 5,830.5 1,317.7 5.1 1.4 6.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

HDFC FULFILLS OVER
5.3 MILLION DREAMS.
From being the pioneers in home loan, HDFC has come
a long way. Over the years, weve innovated various
products and services to help customers fulll their needs.
Let us help you create your space as well.
FEATURES
Quick and hassle-free process Simple documentation
No hidden charges Easy repayment options
AHMEDABAD: 6630 7000 BENGALURU: 4118 3000 BHUBANESWAR: 239 5060 CHANDIGARH: 398 9123 CHENNAI: 2859 9300 COIMBATORE: 430 1100
DEHRADUN: 1860 420 4222 GUWAHATI: 266 6915 HYDERABAD: 6647 5001 INDORE: 443 3333 JAIPUR: 98750 88888 KOCHI: 93877 66666 KOLKATA:
6655 6655 LUCKNOW: 398 9123 MUMBAI: 6663 6000 NAGPUR: 256 6000 NASHIK: 660 6000 NEW DELHI: 4111 5111 PATNA: 669 0669 PUNE: 2550 5000
RAIPUR: 424 3100 SURAT: 671 1800 THIRUVANANTHAPURAM: 99959 98000 VADODARA: 230 8400.
All loans at the sole discretion of HDFC Ltd. For detaled terms & conditions, visit hdfc.com CIN: L70100MH1977PLC019916 NETWORK HDFC611-16
FIs / NBFCs /
F i n a n c i a l Se r v i c e s
Housing Development Finance
Corporation Limited
About the Company the untapped potential of

Renu Sud Karnad Housing Development Finance the unorganized sector in the
Managing Director
Corporation Ltd (HDFC) was country who nd it dicult to
incorporated on Oct 1977 with avail nancial assistance from
the primary objective of providing the formal sector.
housing nance to individual
Non-Housing Loans to
households and corporate for
Individuals: HDFC oers loans
the purchase and construction of
for non-residential premises
residential housing. It is the leading
for buying / constructing
housing nance company in India
of oce space, shops, etc.
having assisted over 5.4 million
Additionally, it also oers
families own their own house.
loans against fully constructed
commercial properties to
Oerings
individuals to help them
HDFC is the pioneer of housing
meet their business needs,
nance business in India. Presently,
marriage, medical expenses
it oers a host of housing and non-
and other personal needs. It
housing loans to resident and non-
also oers top-up loans to its
resident Indians. Some of its major
existing customers for a variety
products under these categories
of personal and professional
include:
needs.
Loans for Housing: HDFC oers
Deposit Mobilisation: HDFC is
home loans to buy, construct
amongst the largest mobiliser
a house. Additionally, it also
of public deposits outside the
provides home improvement
banking system with over 1.85
loans, home extension loans,
million deposit accounts.
plot loans for residential to
residents and Non Resident
Network
Indians among others. It also
HDFC has a robust PAN-India
oers a rural housing nance
marketing and distribution
product especially designed
network. Its distribution channel
for agriculturists, planters,
include HDFCs wholly owned
horticulturists and dairy
distribution company, HDFC Sales
farmers, etc. This product also
Private Limited (HSPL), HDFC
caters to salaried and self-
Bank and third party direct selling
employed individuals wishing
associates (DSAs). The companys
to buy space of their own in
distribution network now spans
their home town or village.
401 outlets, which includes 116
HDFC has recently launched
oces of HSPL. The corporation
a new product called HDFC
also has tie-ups with banks such
reach catering to salaried
as IndusInd Bank, RBL Bank
and self employed individuals
and Lakshmi Vilas Bank, as well
or owners of a small business
as with NBFCs like Sundaram
or professionals thus tapping
Finance Limited, IIFL Limited and in the previous year. Individual in diverse activities including;
Cholamandalam Distribution loans accounted for 73% of commercial banking,
Services Limited and MFI like the loan book in FY16. insurance, asset management,
Equitas Holdings. aordable housing, property
During the same period,
fund, education nance
individual loan book of the
Additionally, HDFC operates among others. Some of these
corporation grew 24%; while
overseas oces in London, include; HDFC Bank Ltd,
the non-individual loan book
Singapore and Dubai to provide HDFC Standard Life Insurance
grew 9% over the previous
advice on housing loans and real Company Ltd, HDFC Asset
year.
estate to NRIs and PIOs for their Management Company Ltd,
housing needs in India. The Dubai HDFC registered a robust HDFC ERGO General Insurance
oce reaches out to its customers growth in deposits as well. The Company Ltd, GRUH Finance
across Middle East through its number of deposit accounts Ltd, HDFC Sales Private Ltd
service associates based in Kuwait, crossed 18.50 lac, from 18 lac and Credila Financial Services
Qatar, Oman, Abu Dhabi and Saudi in the previous year. Private Limited among others.
Arabia.
Subsidiaries & Associate
Performance Highlights Companies
In FY16, the loan book of As on March 2016, HDFC
HDFC stood at ` 2.59 trillion had 25 subsidiaries and 5
as compared to ` 2.28 trillion associate companies engaged
Ramon House, Mumbai

FIs / NBFCs / Financial Services
Comparative Matrix

Company Name
1 Housing Development Finance Corpn. Limited 274,708.6 59,901.4 309,648.5 21.8 19.3
2 Power Finance Corporation Limited 249,068.0 59,593.3 322,174.2 23.9 18.5
3 Rural Electrification Corporation Limited 203,880.5 52,598.7 248,514.7 25.8 21.2
4 LIC Housing Finance Limited 107,986.5 13,861.9 78,124.9 12.8 17.7
5 IDFC Limited 92,126.3 16,854.9 168,088.9 18.3 10.0
6 Shriram Transport Finance Company Limited 86,447.2 12,378.1 91,997.9 14.3 13.5
7 Indiabulls Housing Finance Limited 71,573.5 19,782.3 64,912.9 27.6 30.5
8 Dewan Housing Finance Corporation Limited 59,816.4 6,212.9 46,312.1 10.4 13.4
9 Mahindra & Mahindra Financial Services Limited 55,847.1 8,317.8 56,647.5 14.9 14.7
10 Bajaj Finance Limited 54,182.3 8,978.7 47,687.8 16.6 18.8
11 Muthoot Finance Limited 43,246.3 6,705.2 50,386.9 15.5 13.3
12 Reliance Capital Limited 39,880.0 7,570.0 123,560.0 19.0 6.1
Cholamandalam Investment and Finance
13 36,911.9 4,351.6 31,690.5 11.8 13.7
Company Limited
14 Shriram City Union Finance Limited 35,316.3 5,580.6 40,803.2 15.8 13.7
15 IFCI Limited 33,479.9 5,216.0 62,589.2 15.6 8.3
16 Sundaram Finance Limited 23,690.7 4,541.4 29,503.0 19.2 15.4
17 Magma Fincorp Limited 20,459.5 1,490.7 12,743.3 7.3 11.7
18 Manappuram Finance Limited 19,809.4 2,707.3 26,230.5 13.7 10.3
19 Srei Infrastructure Finance Limited 19,000.3 909.3 26,554.9 4.8 3.4
20 Capital First Limited 14,259.2 1,120.2 14,154.7 7.9 7.9
21 GRUH Finance Limited 10,603.2 2,038.0 7,104.9 19.2 28.7
22 Bajaj Holdings & Investment Limited 10,064.6 8,677.3 59,628.7 86.2 14.6
From choosing HDFCHOME TO 56767
to owning.

All loans at the sole discretion of HDFC Ltd. For detaled terms & conditions, visit hdfc.com CIN: L70100MH1977PLC019916 NETWORK HDFC612-16
Housing Development Finance Corporation Limited
About the Company
Housing Development Finance Corporation Ltd (HDFC) was incorporated in 1977 as Indias first Top 500 Ranking
specialized mortgage company. The company has financed more than 5 mn homes. It is amongst Income 41
the largest mobilisers of public deposits outside the banking system. It has also undertaken several
consultancy assignments in housing finance in various countries across Asia, Africa and East Europe. Net Profit 17
It has extensive distribution network of 392 interconnected offices (including 113 offices of HDFC Networth 26
Sales) all over India. It has three representative offices in Dubai, London and Singapore offering
home loan products to non-resident Indians and persons of Indian origin. It provides diversified Address
financial services banking, insurance (life and general), asset management, realty, real estate Ramon House,
venture capital, education loan. In FY15, HDFC launched the Online Property Bazaar in New Delhi, 169, H T Parekh Marg,
which showcased about 185 properties from across the Delhi-NCR region. HDFCs key associates Backbay Reclamation,
and subsidiary companies include HDFC Bank Ltd, HDFC Standard Life Insurance Company Ltd, HDFC Churchgate, Mumbai - 400020, Maharashtra
ERGO General Insurance Company Ltd, HDFC Asset Management Company Ltd, GRUH Finance Ltd, Website: www.hdfc.com
HDFC Venture Capital Ltd and Credila Financial Services Pvt Ltd.

274,708.6 59,901.4 309,648.5 265,186.3 96.5 21.8 19.3
(As on Mar 31, 2015)
Power Finance Corporation Limited

About the Company
Power Finance Corporation Ltd (PFC) was established in 1986 is an Indian financial institution, to Top 500 Ranking
cater to the finance needs of the power and associated sectors. It was conferred with the status Income 43
of a Navratna in 2007. In 2010, the company was registered as an NBFC with RBI and classified
as an infrastructure finance company (NBFC-ND-IFC). Its clients include state electricity boards, Net Profit 18
state power utilities, state electricity/power departments, other state departments engaged in Networth 25
the development of power projects, central power utilities, joint sector power utilities, equipment
manufacturers and private sector power utilities. PFC provides syndication services mainly in the Address
areas of power, energy, infrastructure and other industries. The company offers fund and non-fund Urjanidhi, 1,
based products and services such as fund acquisition, bridge loan, line of credit, corporate loan, Barakhamba Lane,
debt refinancing, short term loans, guarantee, project term loans, lease financing and letter of Connaught Place,
comfort among others. The company also offers consultancy services through its wholly owned New Delhi - 110001, Delhi
subsidiary, PFC Consulting Ltd. It also operates in the renewable energy space through PFC Green Website: www.pfcindia.com
Energy Ltd and offers advisory services through PFC Capital Advisory Services Ltd.

249,068.0 59,593.3 322,174.2 231,766.2 93.1 23.9 18.5
(As on Mar 31, 2015)
Rural Electrification Corporation Limited

About the Company
Rural Electrification Corporation Ltd (REC) was incorporated in 1969 as a CPSE to finance and Top 500 Ranking
promote rural electrification projects all over the country. REC provides financial assistance to Income 51
state electricity boards, state government departments and rural electric cooperatives for rural
electrification projects. The company has been conferred with Navratna status by the GoI. REC Net Profit 19
provides financial support to the all the three power sectors viz., generation, transmission and Networth 34
distribution. In FY15, the company sanctioned 34 generation projects with a total loan outlay of
` 221.8 bn, 552 transmission & distribution schemes involving a total loan outlay of ` 250.3 bn and Address
eight new grid-connected renewable energy projects with a total outlay of ` 5.5 bn. In FY15, a total Core-4,
of 467 system improvement schemes and bulk loan schemes were sanctioned. In Sep 2015, REC SCOPE Complex, 7,
signed MoU with APGENCO and APTRANSCO for extending financial assistance worth ` 30 bn and Lodhi Road,
` 60 bn respectively. In Dec 2015, REC incorporated three SPVs namely North Karanpura Transco New Delhi 110003, Delhi
Ltd, Khargone Transmission Ltd and Dinchang Transmission Ltd. Website: www.recindia.nic.in

203,880.5 52,598.7 248,514.7 188,104.8 92.3 25.8 21.2
(As on Mar 31, 2015)

Top 500 Ranking
Income 83
LIC Housing Finance Net Profit 63
Sunita Sharma, Managing Director & CEO

LIC Housing Finance Ltd (LICHFL), promoted by the LIC of India, was incorporated in 1989 Total Income 107,986.5
under the Companys Act of 1956. Since then, the company has grown into a premier
housing finance institution in India, fulfilling the aspirations of millions to acquire a Net Profit 13,861.9
shelter a basic necessity and take pride to call it My Own Home. The company Networth 78,124.9
went public in the year 1994. It is registered with National Housing Bank (NHB) and EBIDTA 104,107.4
is listed on NSE and BSE. The company has serviced more than two million customers
Ratios (%)
since inception. LIC HFL has scored a rich history of prolific growth marked by the Best
in Class asset quality and constantly driven towards customer centricity in terms of EBIDTA Margin 96.4
products, pricing and servicing. The company is working diligently and strategically NPM 12.8
towards the Government of Indias mission of providing Housing for All by 2022.
RONW 17.7
(As on Mar 31, 2015)
Business Operations
LICHFL is mainly engaged in offering long term finance to individuals for purchase or Management Details
construction of house or flat for residential purpose/repair renovation of existing flat / Chairman
houses. Surya Kumar Roy
Managing Director & CEO
Home Loans: LICHFL offers home loans to individuals ranging between 20-30 years Sunita Sharma
tenure. It offers various loan schemes such as loans for construction/ purchase/
Directors
repairs/ renovation/ extension/plot purchase/ loan against property/ loans to
Jagdish Capoor
professionals among others. It offers financial assistance to residents, NRIs and Savita Singh
pensioners as well. T.V. Rao
Dharmendra Bhandari
Corporate/ Project Loans: Under corporate loans, LICHFL offers financial assistance
Debabrata Sarkar
for the construction of staff quarters, line of credit To scheme and line of credit V. K. Kukreja
Through scheme. The company also provides construction finance and term Ameet Patel
loans to builders and developers.
Other Loans: The Company also provides finance on existing property for business
/ personal needs and also gives loans to professionals for purchase / construction
of clinics / nursing homes / diagnostic centres / office space and also for purchase
of equipments.
Network
LICHFL operates from its registered and corporate office in Mumbai, Maharashtra.
Its extensive marketing network includes; seven regional offices, 17 back offices and
233 marketing units covering more than 450 centres across India. Its overseas include
representative offices in Kuwait and Dubai, that mainly cater to NRIs in the GCC countries
covering Bahrain, Dubai, Kuwait, Qatar and Saudi Arabia The company continues to
serve the customers at their door step through home loan agents, direct selling agents Address & Website
and customer relation associates. To extend its marketing reach, it has around 13, 700
intermediaries. Bombay Life Building,
2nd Floor,
45/47, VN Road,
Financial Highlights Mumbai 400001,
Some of the important highlights of the companys performance in FY15 include; Maharashtra
LICHFL loan portfolio expanded by 19% to reach ` 1.08 trillion, with individual loan Website
portfolio growing by 19% to reach ` 1.05 trillion. www.lichousing.com
Overall loan disbursements grew 20% to reach a new high of ` 303 bn, with
individual disbursements crossing ` 292 bn.
Gross NPAs of the company reduced to 0.46% as against 0.67% in the previous
year.
Net interest income grew by 17.77% year-on-year basis

A snapshot of the sanctions and disbursements are mentioned below:
Particulars Individual Loans (` Bn.) Project Loans (` Bn.)
Sanctions 1,816.7 ` 23.8
Disbursements 1,688.5 ` 10.7
Subsidiaries
LICHFL operates four subsidiaries as listed below:
1. LICHFL Care Homes Ltd: LICHFL Care Homes Ltd was incorporated in Sep 2001, to address the need of housing for the senior
citizens of the country. The company was promoted to establish and operate assisted community living centres.
2. LICHFL Financial Services Ltd: LICHFL Financial Services Ltd was incorporated in Oct 2007, for undertaking non fund based
activities like marketing of housing loans, insurance products, credit card, mutual fund, personal loan.
3. LICHFL Trustee Company Private Ltd: LICHFL Trustee Company Private Ltd was incorporated in Mar 2008, for undertaking business
of trustees of venture capital trust, funds-in India and offshore fund.
4. LICHFL Asset Management Company Pvt Ltd: LICHFL Asset Management Company Pvt Ltd was incorporated in Feb 2008, for
undertaking the business of managing, advising, administering venture funds, unit trust, investment trust in India as well as
abroad.
Building Homes, Nurturing Relationships

IDFC Limited
About the Company
IDFC Ltd (IDFC) was established in 1997 as Infrastructure Development Finance Co Ltd. The company Top 500 Ranking
is regulated by RBI as infrastructure finance company - NBFC. It is a holding company operating Income 98
with 22 subsidiaries and group entities. Its operating SBUs include; corporate finance, investment
banking and broking, alternative asset management and public markets asset management. The Net Profit 54
group is engaged in financing by way of loans, asset management and investment banking & Networth 48
institutional broking. IDFC finances infrastructure projects in sectors like energy, telecommunication,
transportation, commercial and industrial projects in addition to hospitals, education, tourism and Address
hotels. In FY15, IDFCs loan book stood at ` 524.3 bn, with energy segment comprising of about KRM Tower, 8th Floor,
42% of the overall loan disbursements. Its investment banking and broking business comprises of No 1, Harrington Road,
advisory, capital raising services and institutional broking. It operates in the mutual fund space Chetpet,
through IDFC Asset Management Company Ltd, which had an AAUM of ` 486.2 bn as on FY15, Chennai 600031, TN
growing by 17% over FY14. In April 2014, it received the in- principle approval from the RBI to set Website: www.idfc.com
up a new private sector bank.

92,126.3 16,854.9 168,088.9 75,176.7 81.6 18.3 10.0
(As on Mar 31, 2015)
Shriram Transport Finance Company Limited

About the Company
Shriram Transport Finance Company Ltd (Shriram Transport), a flagship company of Shriram Group, Top 500 Ranking
was established in 1979 and is registered as a deposit taking NBFC with RBI. Shriram Transport is an Income 106
asset financing company engaged in providing various financial services including financing of pre-
owned and new commercial vehicles, passenger vehicles, tractors, three wheelers and multiutility Net Profit 67
vehicles among others. It also offers other ancilliary services including; finance for working capital, Networth 79
engine replacement, bill discounting, credit cards and tyre-loans as holistic financing support. Its
pan-India network comprises of 741 branches, 776 rural centers and partnerships with nearly 500 Address
private financiers. It also operates in the construction equipment finance and auto-mall business No. 4,
through its subsidiaries namely; Shriram Equipment Finance Co Ltd and Shriram Automall India Lady Desika Road,
Ltd. In FY15, Shriram Transport added 87 branches to its existing branch network. During the same Mylapore,600004, TN
period, its AUM grew more than 11% to reach ` 591.08 bn and maintained a CAR of 20.5%. Website: www.stfc.in

86,447.2 12,378.1 91,997.9 60,916.4 70.5 14.3 13.5
(As on Mar 31, 2015)
Indiabulls Housing Finance Limited

About the Company
Indiabulls Housing Finance Ltd (IBHFL) was incorporated in 2005. IBHFL belongs to Indiabulls Group. Top 500 Ranking
The company was formed after the demerger from the Indiabulls Financial Services Limited. The Income 124
company is one of the largest private housing finance company in India, regulated by the National
Housing Bank (NHB). IBHFL was registered under Section 29A of the National Housing Bank Act, Net Profit 47
1987 to commence/ carry on the business of a Housing Finance Institution without accepting public Networth 97
deposits. IBHFL is engaged in the business to provide finance and to undertake all lending and
finance to any person or persons, co-operative society, association of persons, body of individuals, Address
companies, institutions, firms, builders, developers, contractors, tenants and others either at M-62 & 63, First floor,
interest or without. It also offers home loans to Dubai and UK based NRIs. IBHFL also offers loan Connaught Place,
against property, a mortgage loan catering to small and mid-sized businesses, partnership firms, New Delhi 110001, Delhi
self-employed professionals and private or closely held companies. In FY15, the company operated Website: www.indiabullshomeloans.com
220 branches in more than 110 towns and cities across the country.

71,573.5 19,782.3 64,912.9 63,688.8 89.0 27.6 30.5
(As on Mar 31, 2015)

Dewan Housing Finance Corporation Limited
About the Company
Dewan Housing Finance Corporation Ltd (DHFL), a company registered with NHB was incorporated Top 500 Ranking
in 1984. The company is primarily involved in the business of providing loans to retail customers for Income 136
construction or purchase of residential property and loans against property. DHFL offers wide range
of products and services under housing loans, loans to SME, mortgage loans and on the liability Net Profit 106
product side, a range of fixed deposit products. The company also offers education loans through an Networth 120
associate company named Avanse Financial Services Ltd and life insurance products through DHFL
Pramerica Life Insurance Company Ltd, a JV with Prudential Financial Inc. of USA. DHFL operates Address
through a wide network of 188 branches, 150 service centres, 19 circle/cluster, two disbursement Warden House,
hub and one collection center in India and two representative offices in UAE and UK. In FY15, DHFL 2nd Floor,
launched Welath2Health Fixed Deposit which enables instant liquidity in case of health emergency. Sir P M Road, Fort,
In Aug 2015, the company acquired 50% stake in Pramerica Asset Managers Pvt Ltd and Pramerica Mumbai - 400001, Maharashtra
Trustees Pvt Ltd from PGLH of Delaware Inc. Website: www.dhfl.com

59,816.4 6,212.9 46,312.1 53,728.2 89.8 10.4 13.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Mahindra & Mahindra

Top 500 Ranking
Income 146
Financial Services Net Profit 90
Ramesh Iyer, Vice-Chairman & Managing Director
Mr. Iyers view

Which are the most important changes that Indias leading corporate need to make today in order to effectively contribute towards expediting
Indias economic and social development?
The Indian government has been focusing on various initiatives for the economic and social development of India. One of the major drives by the
government in the last few years has been increasing financial inclusion in the rural areas through various initiatives like Pradhan Mantri Jan Dhan
Yojana, Kisan Credit Cards and Aadhar among others. The Government has also focused towards building a Digital India and through this most
of the areas would soon be covered with broadband connectivity. The government has also started the Make in India campaign for making India
a manufacturing hub and hence bring about growth of the manufacturing sector. Corporates need to align themselves with these governmental
initiatives and create their product and distribution strategies in line with these initiatives. Corporates should take advantage of the increasing
financial inclusion by reaching out to the deep rural pockets with their products and services, so that they can increase their customer base. The Make
in India initiative is an opportunity for many corporate to manufacture products and offer them at lower prices, which will enable increase of product
penetration to the lower strata of the society. Thus aligning themselves with these initiatives will help the corporate to reach out to a larger customer
base, which would in turn improve their standard of living. However in order to achieve these objectives corporate need to focus on understanding
the needs of the consumers and design products which suit their needs. Corporate must also invest in technology and skill sets of people in order
to meet changing needs of consumers. This alignment by the corporate will be a catalyst in Indias economic and social development in the coming
years.

Mahindra & Mahindra Financial Services Ltd (MMFSL) is part of the Mahindra Group and Total Income 55,847.1
a subsidiary of Mahindra & Mahindra Ltd with its 51.2% promoter ownership. MMFSL is
a non-banking financial company (NBFC) catering to the financial needs of the rural and Net Profit 8,317.8
semi-urban markets. Networth 56,647.5
EBIDTA 37,692.1
The company was incorporated in 1991 as Maxi Motors Financial Services Ltd and acquired
Ratios (%)
its present name in 1992. In 1993, it commenced financing of Mahindra & Mahindra
utility vehicles. In 2002, it began financing of non-Mahindra & Mahindra vehicles. Later EBIDTA Margin 67.5
in 2005, MMFSL ventured into insurance broking business by incorporating Mahindra NPM 14.9
Insurance Brokers Ltd (MIBL) as its wholly-owned subsidiary. The company came out
RONW 14.7
with its IPO in 2006 and in 2007 RBI classified it as an Asset Finance Company Deposit
(As on Mar 31, 2015)
Taking. MMFSL entered into home loan business through its subsidiary, Mahindra Rural
Housing Finance Ltd in 2008. The company introduced financing for commercial vehicles Management Details
and construction equipment in 2010. In FY15, it crossed the benchmark of financing Chairman
more than 3.5 mn customers through more than 1,100 branches. Dhananjay Mungale
Vice-Chairman & Managing Director
Business Operations Ramesh Iyer
MMFSL offers a wide range of retail products and services catering to the financing needs Executive Director & CFO
of the large population residing in rural and semi-urban areas of the country. Its offerings V. Ravi
can be divided into seven categories as listed below: Directors
M.G. Bhide
Vehicle Financing: MMFSL provides various vehicle financing services including
Piyush Mankad
utility vehicle loans, car loans, three wheeler loans, two wheeler loans and Rama Bijapurkar
commercial vehicle loans. These loans are offered through diverse schemes with C.B. Bhave
varied repayment options to meet diverse customer needs. V.S. Parthasarathy
Tractor Financing: MMFSL provides loans for purchase of tractors to the rural Dr. Anish Shah
population with customised schemes and repayment options matching the cash
flow of the customers. Address & Website
Gateway Building
Pre-owned Vehicle Financing: MMFSL offers loans on pre-owned cars, multi-utility
Apollo Bunder
vehicles, tractors and commercial vehicles that are upto 10 years old. It offers lower Mumbai - 400001
interest rates and ensures maximum flexibility with speedy loan disbursements. Maharashtra
Housing Finance: The company caters to the housing finance needs of rural India Website
through its subsidiary, Mahindra Rural Housing Finance Ltd (MRHFL). It has also www.mahindrafinance.com
partnered with National Housing Bank (NHB) to increase its presence in rural
housing. It provides housing loans for the purpose of purchasing new house as well

as for the purpose of renovation and improvement purpose.
SME Financing: MMFSL caters to the SMEs which are part of specific sectors such as automobiles, auto-ancillary and food &
agro-processing. It offers SME loans for various purposes including project finance, equipment finance, corporate loans, bill
discounting and working capital finance. Mahindra Finance has built a sizeable book size in SME loans and is growing fast.
Insurance Broking: MMFSL offers life as well as non-life insurance solutions through its wholly owned subsidiary Mahindra
Insurance Brokers Ltd (MIBL). Some of its individual insurance products include; motor insurance, health insurance, travel
insurance, home insurance, and personal accident insurance; while corporate insurance includes; group mediclaim policy, group
personal accident policy, fire and marine insurance and office package insurance among others.
Investments & Advisory:
Investment products: MMFSL provides fixed deposit investment schemes offering varied interest rates and offers cumulative as
well as non-cumulative options.
Advisory services: The company offers investment advisory services to its clients such as investing in various mutual fund
schemes after analysing their financial needs based on their earning capacity and current investment patterns. The company
offers advisory services to clients on investing money through AMFI certified professionals under the brand Mahindra Finance
Finsmart.
Network Access
MMFSL has a wide spread customer base of more than 3.5 mn customers. To strengthen its customer engagement, the company built
a strong network comprising of 1,108 offices across 26 states and five union territories in FY15. Its rural presence spans across more
than 2.4 lac villages, which nearly stands one in every three villages in India. Some of the states with major presence include; UP, Bihar,
Rajasthan, WB, Karnataka, MP, Gujarat and Odisha among others.
Recent developments and Growth areas

During FY15, MMFSLs customer base reached 3,634,688 from 3,119,034 in FY14, registering an increase of 16% y-o-y.
During FY15, the company disbursed loans worth ` 243.3 bn.
In FY15, the assets under management (AUM) of the company grew 8% reaching ` 368.8 bn as compared to ` 341.3 bn in FY14.
As of FY15, the company had fixed deposit outstanding of ` 46.8 bn with a total investor base of over 168,306 investors.
In FY15, the companys mutual fund business was carried out through 157 branches across 20 states, catering to more than
42,000 customers. During the same period, the outstanding AUM through the Companys Advisory and Distribution Services on
mutual fund products stood at ` 16.01 bn.
In Feb 2016, Mahindra Asset Management Company ltd, a wholly owned subsidiary of the company, was granted a SEBI license
to manage Mahindra Mutual Fund.
Transformed more than 40 lakh rural lives

Bajaj Finance Limited
About the Company
Bajaj Finance Ltd (BFL), a Bajaj Group company, was incorporated in 1987 as Bajaj Auto Finance Top 500 Ranking
Ltd. In Mar 1988, it was registered with RBI as a Non-banking finance company. In Sep 2010, it Income 153
acquired its present name. BFL operates in five broad categories namely consumer lending, SME
lending, commercial lending, rural lending, fixed deposits and fee based product distribution. Some Net Profit 83
of its offerings include home loans, 2/3 wheeler loans, consumer durable lending, gold loans, Networth 119
refinance loans, infrastructure finance, lease rental discounting, construction equipment finance
and loan against securities among others. In FY15, its AUM grew by 35% to reach ` 324.1 bn. As Address
on Mar 31 2015, capital adequacy ratio of the company stood at 17.97%. In FY15, BFL entered Akurdi,
into partnership with Bajaj Allianz to launch extended warranty insurance for consumer durables. Pune 411035, Maharashtra
During the year, BFL acquired a subsidiary Bajaj Housing Finance Ltd (BHFL) along with BHFLs wholly Website: www.bajajfinserv.in/finance
owned subsidiary Bajaj Financial Securities Ltd. In Oct 2015, BFLs wholly owned subsidiary BHFL got
registered with NHB as housing finance institution.

54,182.3 8,978.7 47,687.8 36,217.8 66.8 16.6 18.8
(As on Mar 31, 2015)
Muthoot Finance Limited

About the Company
Muthoot Finance Ltd (Muthoot Finance), a flagship company of the Muthoot Group, was founded Top 500 Ranking
in 1939 with the commencement of gold loan business and in 2001 the company received the RBI Income 183
license to function as an NBFC. Muthoot Finance primarily operates in the gold loans business.
Other services offered by Muthoot Finance include money transfer, collections services, foreign Net Profit 100
exchange services, gold coins, white label ATMs and wind mill power generation. As on Dec 31 2015, Networth 114
It operated with a network of 4,259 branches spread across 27 states and UTs. In FY15, Muthoot
Finances gold loan portfolio increased to ` 234.1 bn registering a y-o-y growth of 7%. As on Mar Address
31 2015, the company had 131 MT of gold jewellery kept as security. Muthoot Finance have set up Opposite Saritha Theatre Complex,
175 ATMs most of which are attached or are near its branches. In FY15, the company acquired 51% Ernakulam - 682018, Kerala
stake in Colombo based Asia Asset Finance Plc and entered into a tie-up with Yes Bank to act as a Website: www.muthootfinance.com
business correspondent of the bank.

43,246.3 6,705.2 50,386.9 31,956.7 73.9 15.5 13.3
(As on Mar 31, 2015)
Reliance Capital Limited

About the Company
Reliance Capital Ltd (RCL), a part of Reliance Group, was incorporated in 1986 as Reliance Capital & Top 500 Ranking
Finance Trust Ltd. The company acquired its present name in 1995. RCL registered as NBFC in 1998. Income 196
RCL has diversified its business in asset management and mutual funds, life and general insurance,
commercial and industrial finance, stock broking, depository services, proprietary investments, Net Profit 96
distribution of financial products, asset reconstruction, and other activities in financial services. The Networth 60
companys distribution business in areas of financial services and solutions is carried out through
Reliance Money. RCL has presence in Singapore through Reliance Asset Management (Singapore) Address
Pte Ltd. In FY15, the AAUM of RCLs mutual fund business grew 32% to ` 1,371 bn. During the year, H-Block,
RCLs commercial finance business expanded its outstanding loan book to ` 199.2 bn. In Oct 2015, 1st Floor,
RCLs subsidiary Reliance Capital Asset Management (RCAM) signed definitive agreement to acquire Dhirubhai Ambani Knowledge City,
Goldman Sachs Asset Managements onshore business in India. In Mar 2016, RCL sold additional Navi Mumbai - 400710, Maharashtra
14% stake in its subsidiary, RCAM to Nippon Life Insurance. Website: www.reliancecapital.co.in

39,880.0 7,570.0 123,560.0 31,960.0 80.1 19.0 6.1
(As on Mar 31, 2015)

Cholamandalam Investment and Finance Company Limited
About the Company
Cholamandalam Investment and Finance Company Ltd (CIFCL) was incorporated in 1978 as the Top 500 Ranking
financial services arm of the Murugappa Group. CIFCL initially started its business as an equipment Income 210
financing company and gradually diversified its portfolio to a comprehensive financial services
provider offering vehicle finance, corporate finance, home loans, home equity loans, SME loans, Net Profit 144
investment advisory services, stock broking and a variety of other financial services to customers. Networth 148
Chola operates through a wide distribution of over 534 branches across the country. As on Mar
31 2015, AUM of the company grew 9% y-o-y to reach ` 254.5 bn comprising ` 176.4 bn under Address
vehicle finance, ` 72.8 bn under home equity and 5.3 bn under other finances. In FY15, the Dare House,
company disbursed loans worth ` 128 bn. CIFCL offers stock broking services through its subsidiary No. 2, N.S.C. Bose Road,
Cholamandalam Securities Ltd and wealth management services through Cholamandalam Parrys, Chennai - 600001, TN
Distribution Services Ltd. In Jun 2015, CIFCL entered into tie-up with Ola to offer car loans to drivers Website: www.cholamandalam.com
on Olas platform with an option of daily repayment scheme.

36,911.9 4,351.6 31,690.5 26,077.3 70.6 11.8 13.7
(As on Mar 31, 2015)
Shriram City Union Finance Limited

About the Company
Shriram City Union Finance Ltd (Shriram City), part of the Shriram Group, was incorporated in 1986. Top 500 Ranking
In the year 2005, the company forayed into retail financing and in 2007 it introduced loan against Income 215
gold in its portfolio. The company has been registered with RBI as a non-deposit taking NBFC.
Shriram City offers a wide range of financial products such as finance for two wheelers and three Net Profit 114
wheelers, enterprise finance, four-wheeler finance; personal loans, small business loans, and gold Networth 129
loans among others. The company also undertakes housing finance business through its subsidiary
namely, Shriram Housing Finance Ltd. Currently the company is having over 1,000 outlets across the Address
country. During FY15, AUM of the company grew 14% y-o-y to ` 167.2 bn. During the same year, 123,
total disbursement of loans under different products stood at ` 172 bn. In FY15, CRAR and net NPA Angappa Naicken Street,
ratio of Shriram City stood at 29.03% and 0.68% respectively. Chennai 600001, TN
Website: www.shriramcity.in

35,316.3 5,580.6 40,803.2 21,598.9 61.2 15.8 13.7
(As on Mar 31, 2015)
IFCI Limited
About the Company
IFCI Ltd (IFCI) was incorporated in 1948 in the name of The Industrial Finance Corporation of India Top 500 Ranking
as the development financial institution to cater to the long-term finance needs of the industrial Income 221
sector. IFCI acquired its present name in 1999. IFCI offers a wide range of financial products broadly
segmented into debt segment and equity segment. Under the debt segment, IFCI provides loans Net Profit 121
for pre-operative project expenses, general corporate purposes, project finance for new industrial/ Networth 100
infrastructure projects, business expansion, technology up-gradation, modernization projects, R&D
expenditure and infrastructure projects/ new manufacturing industries. Under equity segment, it Address
invests in unlisted companies; in IPO, Right issue, QIP, Warrants etc as well as in the secondary IFCI Tower,
markets for listed companies. IFCI also provides corporate advisory, infrastructure advisory and 61 Nehru Place,
monitoring of public issue along with acting as a nodal agency for Sugar Development Fund. In FY15, New Delhi - 110019, Delhi
acquired 49% stake in Rajasthan Consultancy Organisation Ltd making it an associate company. Website: www.ifciltd.com
During the year, IFCI sanctioned and disbursed loans worth ` 122.3 bn and ` 86.9 bn respectively.

33,479.9 5,216.0 62,589.2 28,048.4 83.8 15.6 8.3
(As on Mar 31, 2015)

Sundaram Finance Limited
About the Company
Sundaram Finance Ltd (Sundaram Finance) was incorporated in 1954 and was promoted by Madras Top 500 Ranking
Motor Insurance Company. The company went public in 1972. Sundaram Finance diversified Income 283
into the leasing business in 1981 and forayed into home finance markets in 1999. It is engaged
in providing a range of financial services including commercial vehicle finance, tractor finance, Net Profit 138
car finance, construction equipment finance, tyre finance, fleet card and mortgage loan amongst Networth 155
others. Sundaram Finance through its subsidiaries also has presence in general insurance, mutual
funds, housing finance, BPO, information technology services and retail distribution of a wide array Address
of financial services and products. The company has also entered into JVs with Royal & Sun Alliance, 21,
UK for general insurance and BNP Paribas of France for housing finance and fund services. It has Patullos Road,
a nation-wide presence with 586 branches. In FY15, Sundaram Finance mobilised fresh deposits Chennai - 600002, TN
aggregating to ` 4.1 bn. Website: www.sundaramfinance.in

23,690.7 4,541.4 29,503.0 19,047.4 80.4 19.2 15.4
(As on Mar 31, 2015)
Magma Fincorp Limited

About the Company
Magma Fincorp Ltd (Magma Fincorp) was incorporated in 1978 as Arm Group Enterprises Pvt Ltd. Top 500 Ranking
In 1993, the name was changed to Magma Leasing Ltd and further to Magma Shrachi Finance Ltd Income 309
in 2007 after the merger with Shrachi Infrastructure Finance Ltd. In 2008, the company acquired its
present name. Magma Fincorp is a NBFC engaged in providing asset finance. Its product portfolio Net Profit 245
comprises of car loans, SME loans, construction equipment finance, commercial vehicle financing, Networth 266
tractor loans, used vehicle loans, mortgage finance, auto lease and housing finance among others.
The company undertakes general insurance business through its JV named Magma HDI General Address
Insurance Company Ltd. In FY15, total disbursements made by Magma Fincorp stood at ` 101.2 bn Magma House,
as compared to ` 90.8 bn in the previous year. As on Mar 31, 2015 the AUM of the company stood 24, Park Street,
at ` 211.8 bn and total loan assets stood at ` 195.7 bn. As on Mar 31, 2015 the company had a Kolkata - 700016, WB
network of around 232 branches with a customer base of 490,000. Website: www.magma.co.in

20,459.5 1,490.7 12,743.3 12,274.3 60.0 7.3 11.7
(As on Mar 31, 2015)
Manappuram Finance Limited

About the Company
Manappuram Finance Ltd (MFL) was incorporated in 1992 as Manappuram General Finance and Top 500 Ranking
Leasing Ltd to provide money lending and gold loans. Subsequently, MFL forayed into foreign Income 321
exchange business and into instant money transfer in collaboration with UAE Xchange, Wallstreet
and MoneyGram. In 2011, the company acquired its present name. MFL is a systemically important Net Profit 190
non-deposit taking NBFC mainly engaged in providing wide range of fund based and fee based Networth 165
services such as gold loan schemes, money transfer and foreign exchange services. As on Mar
31, 2014, MFL had a total network to 3,293 branches across 27 states and union territories in the Address
country. As on Mar 31 2015, MFLs gold assets stood at 53.13 MT. In FY15, total gold loans disbursed V/470 A (Old) W/638 (New),
by the company stood at ` 246.8 bn. In FY15, MFL took over Asirvad Micro Finance Pvt Ltd, an Manappuram House,
NBFC-MFI carrying on the business of micro finance in the states of TN, Kerala and Karnataka. In Valapad PO, Thrissur - 680567, Kerala
Jan 2016, MFL acquired 100% stake in Manappuram Insurance Brokers Pvt Ltd for a consideration Website: www.manappuram.com
of ` 15.5 mn.

19,809.4 2,707.3 26,230.5 13,080.4 66.0 13.7 10.3
(As on Mar 31, 2015)

Srei Infrastructure Finance Limited
About the Company
Srei Infrastructure Finance Ltd (Srei Infrastructure Finance) was incorporated in 1989 with the Top 500 Ranking
core focus on infrastructure sector. In 2002, the company promoted equipment bank Quippo. In Income 330
2008, the company entered into a JV with BNP Paribas Leasing Solutions for equipment financing
business and in 2009 partnered with Tata group for passive telecom infrastructure business. Srei Net Profit 308
infrastructure Finance is an infrastructure finance company that operates in three business verticals Networth 163
namely fund based services, fee based services and strategic investments. Its fund based services
includes infrastructure equipment finance and project financing. Its fee based services includes Address
project advisory, insurance broking, project development, insurance broking and investment Vishwakarma,
banking. Its strategic investments encompass infrastructure sector such as transportation, energy, 86C, Topsia Road (South),
SEZ & industrial parks, telecommunication, urban infra and social infrastructure. In FY15, the total Kolkata - 700046, WB
assets under management of the company stood at ` 352.4 bn. Website: www.srei.com

19,000.3 909.3 26,554.9 14,872.2 78.3 4.8 3.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 391
Net Profit 285
Capital First Limited Net Worth 240
V Vaidyanathan, Executive Chairman
Mr. Vaidyanathans Views

The company management believes that MSME financing is burgeoning industry with immense opportunities. As per IFC report, there is a capital
shortfall of `. 32.5 tr in the MSME sector, of which the debt shortfall is `. 26 tr. Bank funding to this sector is only `. 8 tr. Hence this represents a
huge opportunity. It is not that there are no risks in this business. Traditionally self-employed businesses have tended to do substantial part of their
business in cash hence evaluating their repayment capability is not easy. Generally, their maintenance of financial accounts is weak and often scraps
of paper. We therefore look at estimating their cash flows by alternative means. But with the new governments focus on reducing parallel economy,
and the requirement of PAN cards for purchase above ` 200,000 and the opening of Jan Dhan Accounts the books of accounts of small entrepreneurs
will reflect their real strength, and lending to these entities will get easier over time.
He also believes that the new regulations from RBI for NBFCs which require NBFCs to recognize NPA at 90 DPD is a step in the right direction. Today
the NPA of banks and NBFCs are not comparable, as banks report NPA of 90 DPD and NBFCs report NPA of 150 DPD. By March 2017 the industry will
move to using 120 DPD as NPA reporting, and by March 2018, NPA reporting will move to 90 DPD. That presents the correct picture. Since finance
companies are relatively smaller in size and focus on specific businesses, they can penetrate deeper. We are happy we have built a business in this
niche area, which is both a business opportunity as well as an opportunity to cause social and financial inclusion.
Capital First Ltd (CFL) is a leading financial institution in India focused on providing debt Financial Snapshot (In ` mn)
financing to MSMEs and consumers. CFL was founded in 2012 by Mr. V. Vaidyanathan
Total Income 14,259.2
with backing of Warburg Pincus, a reputed global PE with over $45 bn in Assets Under
Management through buyout of an existing listed NBFC. The founding theme of the Net Profit 1,120.2
company is that financing Indias 30 million MSMEs and its emerging middle class, Networth 14,154.7
with a differentiated model, based on new technologies, provides a large and unique
EBIDTA 9,061.1
opportunity. The company has so far financed more than 2.25 mn customers including
more than 1.5 mn self-employed individuals and MSMEs. Ratios (%)
EBIDTA Margin 63.5
Between 2008 and 2010, the main business of the company was financing real estate NPM 7.9
developers. The company was also in the forex business, a retail broking business, asset
management business, wealth management and property services. RONW 7.9
(As on Mar 31, 2015)
In 2010, the company changed its strategy and ventured in the business of retail Management Details
finance, including MSME and consumer credit and closed down existing businesses of
Founder and Chairman
forex, broking, wealth management and asset management. The company saw a huge V Vaidyanathan
opportunity in financing the large underserved self-employed segments and the growing
Directors
middle class of India.
NC Singhal (Independent Director)
Hemang Raja (Independent Director)
Between 2010 and 2012, the retail business launched by the company was still in nascent MS Sundar Rajan (Independent Director)
stage, however the proof of concept had been established. Basis the same, the company Dr. Brinda Jagirdar (Independent Director)
secured equity backing of ` 8.10 bn from Warburg Pincus. Against the prevailing price Dinesh Kanabar (Independent Director)
of ` 122 the buyout was executed at ` 162 a share. As a part of the process, all key Apul Nayyar (Executive Director)
constituents of the company were changed which include: Nihal Desai (Executive Director)
a. The majority and minority shareholding through buyout and open offer to public. Vishal Mahadevia (Non-Executive Director)
Narendra Ostawal (Non-Executive Director)
b. Fresh Capital of ` 1.00 bn was raised by the company.
c. The Board of Directors of the company was reconstituted
d. The focus of the company on retail financing was further enhanced.
e. A new brand Capital First was created and launched in the marketplace.
Address & Website
In 2013-14, the company raised ` 1.78 bn in a second round of equity funding from Indiabulls Finance Centre,
Warburg Pincus which was supported by HDFC Standard Life. Tower 2, 15th Floor,
Senapati Bapat Marg,
In 2014-15 the company raised additional equity of ` 3.00 bn through QIP route from Elphinstone (West),
Mumbai 400013,
reputed international and domestic Institutional investors including Goldman Sachs
Maharashtra
Asset Management, Birla Asset Management, One North Capital (Singapore). Over the
years, a large number of reputed institutional investors like Jupiter Asset Management, Website
www.capitalfirst.com
Ashburton, Ashmore, Government Pension Fund Global and DSP Blackrock have become

shareholders of the company. Thus the company has the demonstrated ability to raise equity as and when required for growth.
The company finances various end uses like loans for plant and machinery, business expansion and provides finance for short term
business requirements for self-employed and MSME segments. The company also provides loans for purchase of consumption items
like white goods and two wheelers.
From a presence in just 5 cities in 2010, the company has expanded its operations to over 222 locations across the length and breadth
of the country and has established a formidable franchise focused on high quality customer experience.
Within a short span of 6 years from 2010-2016, the company has grown the retail loan book from ` 0.88 bn to ` 137.56 bn. Consequently,
the composition of the loan book of the company has transformed, and the retail business as a proportion of the total loan book has
increased from 10% to 86%.
Over the years, the company has successfully reduced the Gross NPA from 5.28% as on 31st March 2010 to 1.07% as on 31st March
2016. Similarly the Net NPA reduced from 3.78% to 0.55% during the same period. Following the RBI guidelines, the company has
changed its NPA recognition policy to 150 DPD in June 2015 from 180 DPD earlier.
The company has posted profits during all years despite the expansion and has set up stage over the last many years. The net profit
has been growing consistently over the last 12 quarters and the Profit before tax (PBT) has increased from ` 74 mn in Q1 FY14 to ` 714
mn in Q4 FY 16. The company has increased its dividend over the years from 10% in FY 10 to 15% in FY 11, 15% in FY 12, 18% in FY 13,
20% in FY 14, 22% in FY 15 and 24% in FY 16.
The company has a long term credit rating of AA+, which is achieved by very select finance companies and banks in India based on
comfortable capitalization levels, strong business model, comfortable asset quality parameters, healthy liquidity position, experienced
management team, reputed institutional shareholders. The company has a diversified borrowing portfolio with more than 170
institutions providing lines of credit as of 31 March 2016.
The market capitalization of the company has increased from ` 7.90 bn on 31 March 2012 to ` 40.00 bn on 31 March 2016.
As on Mar 31 2016, Capital Firsts AUM stood at ` 160.41 bn as compared to ` 119.75 bn in the previous year registering a y-o-y growth
of 34%. The retail AUM grew from ` 101.17 bn to ` 137.56 bn registering a growth of 36% y-o-y and contributing 86% to the total AUM
of the company.
For the year FY16, the net profit of the company increased by 45% to ` 1.66 bn from ` 1.14 bn in FY15. The Net Interest Income (NIM)
of the company increased by 53% from ` 5,363 mn in FY15 to ` 8,181 mn in FY16.
The total capital base of the company, including Tier 1 and Tier 2, has grown strongly from ` 6.90 bn in March 2010 to ` 27.39 bn as
of 31 Mar 2016 as a result of equity raises as well as accrued profits. Capital Firsts capital adequacy ratio stood at 19.81% as on Mar
31, 2016.
The company is focused on building an institution on strong pillars of ethics, values and high corporate governance. The company
has an eminent board with reputed professionals from the financial services industry. All board appointed committees are chaired by
independent directors. The company presents fully audited financials every quarter, done by E&Y.

GRUH Finance Limited
About the Company
GRUH Finance Ltd (GRUH Finance) was incorporated in 1986 and commenced its business Top 500 Ranking
operations in the year 1988. The company is a subsidiary of HDFC Ltd. The company is a housing Income 474
finance company recognized by NHB. It is mainly engaged in housing finance business offering loans
to individuals for construction, purchase, repair and renovation of dwelling units. The company also Net Profit 212
offers loans to professionals for purchase of office premises. Various home loan products offered Networth 355
by GRUH Finance include GRUH Suraksha, GRUH Suvidha, GRUH Sajavat and GRUH Samruddhi. The
deposit plans offered by the company include monthly income, quarterly income, yearly income and Address
cumulative growth. GRUH Finance operates through 179 offices across 10 states namely Gujarat, GRUH, Netaji Marg,
Maharashtra, Karnataka, Rajasthan, MP, Chhattisgarh, TN, UP, Jharkhand and Bihar. During FY15, Near Mithakali Six Roads,
the company disbursed loans worth ` 31.2 bn taking the cumulative disbursement to ` 152.2 bn as Ellisbridge, Ahmedabad - 380006, Gujarat
on Mar 31 2015. As on Mar 31 2015, total loan asset of the company stood at ` 89.2 bn. Website: www.gruh.com

10,603.2 2,038.0 7,104.9 9,702.2 91.5 19.2 28.7
(As on Mar 31, 2015)
Bajaj Holdings & Investment Limited

About the Company
Bajaj Holdings & Investment Ltd (BHIL), the erstwhile Bajaj Auto Ltd, is a Non-Banking Financial Top 500 Ranking
Institution and is categorised as Systemically Important Non-Deposit taking NBFC. BHIL came into Income 489
existence in 2007-08, after the demerger of Bajaj Auto Ltd into three separate entities. BHIL is an
investment company, holding strategic stake of 31.49% in Bajaj Auto Ltd (BAL), 39.29% in Bajaj Net Profit 86
Finserv Ltd (BFS) and 24% in Maharashtra Scooters Ltd (MSL). Apart from this, it also holds other Networth 105
investments and investments in property. The investment portfolio of the company includes; equity
and fixed income securities. Its equities portfolio encompassed both listed and unlisted investment Address
while the fixed income securities include; bonds, MFs, certificate of deposit, fixed deposits with Bajaj Auto Limited Complex,
banks and government securities. During FY15, returns in equities and fixed income securities Mumbai - Pune Road,
portfolio stood at 33.3% and 12.5% respectively. Akurdi,
Pune - 411035, Maharashtra
Website: www.bhil.in

10,064.6 8,677.3 59,628.7 9,696.6 96.3 86.2 14.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

FMCG
FMCG
Comparative Matrix

Company Name
1 Hindustan Unilever Limited 314,240.1 36,509.6 37,020.8 11.6 98.6
2 Dabur India Limited 55,691.3 7,865.4 23,161.0 14.1 34.0
3 Marico Limited 48,220.0 5,451.7 23,193.3 11.3 23.5
4 Godrej Consumer Products Limited 44,873.1 6,458.5 25,653.7 14.4 25.2
5 Colgate-Palmolive (India) Limited 40,151.1 5,589.8 7,703.2 13.9 72.6
Procter & Gamble Hygiene and Health Care
6 24,084.3 3,461.4 12,286.8 14.4 28.2
Limited
7 Emami Limited 21,264.6 4,716.3 11,796.0 22.2 40.0
8 Gillette India Limited 19,098.3 1,581.3 7,423.4 8.3 21.3
9 Jyothy Laboratories Limited 14,445.2 1,448.8 6,428.1 10.0 22.5

Hindustan Unilever Limited
About the Company
Hindustan Unilever Ltd (HUL) was established in 1956 with the merger of three companies - Top 500 Ranking
Hindustan Vanaspati Manufacturing Company, Lever Brothers India Ltd and United Traders Ltd. The Income 36
company acquired its present name in 2007. It is Indias largest FMCG company with a heritage of
over 80 years. HUL is a subsidiary of Unilever PLC (UK), which directly and through subsidiaries owns Net Profit 25
more than 67% shareholding in HUL. The companys business is categorised into five segments Networth 134
- soaps & detergents, personal products (skin care, hair care, oral care, colour cosmetics and
deodorants), beverages (tea and coffee), packaged foods (culinary and bakery products, frozen Address
desserts and ice cream), and others which includes exports, chemicals, infant care products and Unilever House,
water purifiers, among other products. HULs product portfolio includes leading household brands B. D. Sawant Marg, Chakala,
such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair & Lovely, Ponds, Vaseline, Lakm, Dove, Clinic Andheri (East),
Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Walls and Pureit. Mumbai - 400099, Maharashtra
HULs subsidiaries include Unilever India Exports Ltd, Lakme Lever Pvt Ltd, Ponds Exports Ltd, and Website: www.hul.co.in
Unilever Nepal Limited.

314,240.1 36,509.6 37,020.8 64,799.2 20.6 11.6 98.6
(As on Mar 31, 2015)
Dabur India Limited

About the Company
Dabur India Ltd (Dabur) is a FMCG company operating in key consumer product categories like Top 500 Ranking
hair care, oral care, health care, skin care, home care and foods. The companys product portfolio Income 148
includes over 381 products spread across 21 categories and over 1,000 SKUs. The companys FMCG
portfolio includes five flagship brands with distinct brand identities namely Dabur as the master Net Profit 92
brand for natural healthcare products, Vatika for premium personal care, Hajmola for digestives, Networth 180
Ral for fruit juices & beverages and Fem for fairness bleaches and skin care products. The company
has a wide distribution network, covering over 5.3 mn retail outlets with a high penetration in both Address
urban and rural markets. Daburs products are also marketed in over 100 countries across the globe. 8/3, Asaf Ali Road,
In FY15, Dabur launched new products namely Miswak Gold toothpaste, Miswak Mouthwash, New Delhi - 110002, Delhi
Dermoviva Facial Cleansers and Scrubs, Vatika Dermoviva Soaps, Fem Halawa and ORS Monoi Oil Website: www.dabur.com
range. In Jan 2016, Dabur launched Dabur Baby Massage Oil with Olive & Almond under its new
premium natural care brand Dabur Baby.

55,691.3 7,865.4 23,161.0 10,476.4 18.8 14.1 34.0
(As on Mar 31, 2015)
Marico Limited
About the Company
Marico Ltd (Marico) was incorporated in 1988 and in 1990 it took over the then consumer products Top 500 Ranking
business of The Bombay Oil Industries Ltd. Marico is engaged in the manufacturing and sale of Income 164
consumer products in the beauty and wellness segments. It manufactures coconut oil, hair oil, hair
gels/ creams, edible oils and fabric care amongst others. The company operates several brands Net Profit 118
across the hair care, skin care, health foods, male grooming and fabric care categories. Some of its Networth 179
brands include Parachute Advansed, Saffola, Hair & Care, Nihar, Mediker, Revive, Set Wet, Manjal,
Zatak and Livon amongst others. Marico operates 16 manufacturing factories across Kanjikode, Address
Jalgaon, Puducherry, Paldhi Paonta Sahib, Baddi, Perundurai and Dehradun. It also operates seven 7th Floor,
factories overseas. The company has significant presence in 25 countries including Bangladesh, Grande Palladium, 175,
South East Asia, Middle East, Egypt and Soth Africa. In FY15, Marico launched Livon Moroccan Silk CST Road, Kalina, Santacruz (E),
Serum in India; Set Wet Infinity deodorant and Parachute Advanced Body Lotion in Bangladesh; and Mumbai 400098, Maharashtra
Caivil Gold Fusion Oil range in SA. Website: www.marico.com

48,220.0 5,451.7 23,193.3 7,984.4 16.6 11.3 23.5
(As on Mar 31, 2015)

Godrej Consumer Products Limited
About the Company
Godrej Consumer Products Ltd (GCPL), a Godrej Group company, was incorporated in 2000 to take Top 500 Ranking
over the consumer products business of Godrej Soaps Ltd. The company is engaged in manufacturing Income 178
and marketing of household and personal care products. GCPL markets its home care products
under brands Good Knight, HIT, Ezee; personal care products under Cinthol, Soft & Gentle, Villeneuve Net Profit 101
and Cuticura; and hair care under brands Darling, Roby, INECTO, 919 and Frika to name few. The Networth 171
company has international operation in many countries across Asia, Middle East, Africa, Europe
and Latin America. In FY15, the company launched Godrej No. 1 Nature Soft Glycerine & Honey, Address
Godrej No. 1 Lavender Soap, Godrej No. 1 Facewash two variants and BBLUNT range of products. Godrej One, 4th Floor,
In Feb 2016, GCPL through its subsidiary entered into an agreement with Canon Chemicals Ltd for Pirojshanagar, Eastern Express Highway,
the acquisition of a majority equity stake in its business in Kenya. In Mar 2016, GCPL through its Vikhroli (E),
subsidiary increased its stake from 51% to 90% in DGH Phase Two Mauritius, owning Style Industries Mumbai - 400079, Maharashtra
Limited, Kenya. Website: www.godrejcp.com

44,873.1 6,458.5 25,653.7 9,057.8 20.2 14.4 25.2
(As on Mar 31, 2015)
Colgate-Palmolive (India) Limited

About the Company
Colgate-Palmolive (India) Ltd (Colgate) was incorporated in 1937 as Colgate Palmolive India Pvt Ltd. Top 500 Ranking
The company is engaged in manufacturing of oral care, personal care and home care. Its product Income 195
portfolio includes toothpastes, brushes, powder, whitening products, mouthwash, body wash,
liquid hand wash, shave preps, skin care product, shampoo and surface care products. Some of its Net Profit 112
prominent brands include Colgate Total, Colgate Visible White, Colgate Active Salt, Colgate Plax, Networth 341
Colgate PerioGard, Colgate Sensitive, Colgate Slim Soft, Colgate Kids, Colgate Sensitive Pro-Rilief
and Maxfresh among others. The company operates five plants across Aurangabad in Maharashtra; Address
Baddi in HP; Kundaim in Goa; Sanand in Gujarat and Sricity in AP. In FY15, Colgate launched two Colgate Research Centre,
new toothpastes namely Colgate Sensitive Pro-Relief (CSPR) Enamel Repair toothpaste and Colgate Main Street,
Visible White Plus Shine toothpaste. During the same period, it also launched two new toothbrush Hiranandani Gardens, Powai,
namely Colgate SlimSoft Charcoal toothbrush and Colgate ZigZag Black toothbrush. In Mar 2015, Mumbai 400076, Maharashtra
Colgate commissioned toothbrush manufacturing facility at Sricity in AP. Website: www.colgate.co.in

40,151.1 5,589.8 7,703.2 8,554.1 21.3 13.9 72.6
(As on Mar 31, 2015)
Procter & Gamble Hygiene and Health Care Limited

About the Company
Procter & Gamble Hygiene and Health Care Ltd (PGHHC) was originally incorporated in 1964 as Top 500 Ranking
Richardson Hindustan Ltd, a subsidiary of the US-based Richardson-Marrell Inc. Eventually, in 1985, Income 279
it went on to become a subsidiary of the US-based Procter & Gamble Company. PGHHC is one of
the three Indian entities operated by Procter & Gamble Company USA, which holds more than 65% Net Profit 165
stake therein. The companys principal activities are manufacturing, marketing and distribution of Networth 274
healthcare, beauty & grooming, household care, well-being and feminine hygiene products. The
healthcare segment includes brands like Vicks Vapo Rub, Vicks Cough Drops, Vicks Inhaler and Address
Vicks Action 500. The feminine hygiene segment includes products like Whisper Ultra and Whisper P&G Plaza,
Choice. Some of the other reputed brands that it markets in India are Ariel, Tide, Olay, Ambipur, Cardinal Gracias Road,
Pampers, Pantene, Oral-B, Old Spice, Head & Shoulders, Wella and Duracell, among many others. Chakala, Andheri (East),
The company has two plants in Goa and another two in Baddi in HP. Mumbai - 400099, Maharashtra
Website: www.pg.com

24,084.3 3,461.4 12,286.8 5,534.2 23.0 14.4 28.2
(As on Jun 30, 2015)

Emami Limited
About the Company
Emami Ltd (Emami), a flagship company of Emami Group, was incorporated in 1974. Emami is Top 500 Ranking
engaged in manufacturing and marketing personal care, health care and beauty products. Products Income 304
consists of hair care, skin creams, soaps, lotions, talcum powders, ayurvedic health care products
through brands like Navratna Oil, Boroplus Antiseptic Cream, Fair & Handsome, and Zandu Balm. Net Profit 132
During FY 15, the company started manufacturing Navratna Oil at its Dongari manufacturing plant Networth 280
to cater to export requirements. Zandu Balm Ultra Power, HE Deo and Emami 7 Oils-in -one Damage
Control Hair Oil, are some of the major new product launches of the company in FY 15. Address
687, Anandapur,
E M Bypass,
Kolkata-700107, West Bengal, India
Website: www.emamiltd.in

21,264.6 4,716.3 11,796.0 6,133.6 28.8 22.2 40.0
(As on Mar 31, 2015)
Gillette India Limited

About the Company
Gillette India Ltd (Gillette) is engaged in manufacturing and selling of branded package fast moving Top 500 Ranking
consumer goods under the grooming, portable power and oral care business segments. The Income 329
company offers a range of products under two categories viz. razors and blades; and pre shaves and
post shaves products. Under razors and blades, its portfolio includes Mach3 Razor, Fusion Power Net Profit 239
Razor, Vactor Razor, 7 OClock Super Platinum Blades and Fusion Proglide Manual Razor Blades Networth 346
amongst others. Under pre shave and post shave products its offers Series Sensitive Shave Foam,
Series Ultra Protection Shave Foam, Series Conditioning Shave Gel, and Series Conditioning Shave Address
Foam amongst others. Gillette has its manufacturing units located at Bhiwadi in Rajasthan and Plot No. SPA-65 A,
Baddi in Himachal Pradesh, apart from third party manufacturing locations spread across India. Bhiwadi Industrial Area,
Gillettes products are sold through retail operations including mass merchandisers, grocery stores, Bhiwadi Alwar, 301019 Rajasthan
membership club stores, drug stores, department stores and high frequency stores. In FY15, Gillette Website: www.gillette.co.in
launched new sensitive whitening variant in Oral-B brushes and razors with the word India engraved
on the handle.

19,098.3 1,581.3 7,423.4 1,957.2 10.2 8.3 21.3
(As on Jun 30, 2015)
Jyothy Laboratories Limited

About the Company
Jyothy Laboratories Ltd (Jyothy) was established in 1983 in Thrissur, Kerala, eventually being Top 500 Ranking
incorporated as a company in 1992. It is a multi-brand, multi-product company with pan-India Income 387
operations. The company is primarily engaged in manufacturing and marketing of fabric whiteners,
soaps, detergents, mosquito repellents, scrubber, bodycare and incense sticks. Its business revolves Net Profit 253
around the fabric care, dishwash, household insecticide, personal care and home care segments. Its Networth 363
most reputed brand is Ujala fabric whitener. Jyothy operates in the niche segment of liquid blues
which is a large market, and has a lions share of 75% in the market. Another brand, Henko is well Address
known for fabric care through prevention of lint. EXO is an anti-bacterial dishwash bar, while Pril is Ujala House,
an upgrade from bars into the dish-washing liquid category. Other reputed brands are Maxo (liquid Ram Krishna Mandir Road,
pest-repellant vaporisers), Margo (neem protection for skin and fabric spa). The company has 104 Kondivita, Andheri East,
retail outlets, spread across cities like Bengaluru, Mumbai, Delhi, Chennai and Pune. The company Mumbai 400059, Maharashtra
has state-of-the-art facilities at an R&D centre at Mumbai. Jyothy has a strong sales workforce of Website: www.jyothylaboratories.com
1,000 plus workers reaching out to 0.5 mn retail outlets directly.

14,445.2 1,448.8 6,428.1 2,287.8 15.8 10.0 22.5
(As on Mar 31, 2015)

F ood P roducts
Food Products
Comparative Matrix

Company Name
1 Ruchi Soya Industries Limited* 284,116.1 (39.9) 21,976.4 (0.0) (0.2)
2 Nestl India Limited 99,421.6 11,776.9 28,372.1 11.8 41.5
3 Britannia Industries Limited 72,635.2 4,803.5 12,229.2 6.6 39.3
4 Gokul Refoils and Solvent Limited 59,217.8 125.4 3,585.9 0.2 3.5
5 Kwality Limited 52,805.7 1,409.3 6,074.0 2.7 23.2
6 GlaxoSmithKline Consumer Healthcare Limited 45,294.8 5,836.0 21,088.4 12.9 27.7
7 JVL Agro Industries Limited 44,096.8 216.2 5,248.6 0.5 4.1
8 KRBL Limited 31,163.9 2,850.5 12,575.6 9.1 22.7
9 Tata Global Beverages Limited 30,396.9 3,579.1 249,572.9 11.8 1.4
10 Hatsun Agro Product Limited 29,391.0 391.6 2,057.2 1.3 19.0
11 Sanwaria Agro Oils Limited 26,625.2 250.4 2,654.6 0.9 9.4
12 Gujarat Ambuja Exports Limited 25,404.3 841.7 8,248.1 3.3 10.2
13 Heritage Foods Limited 20,800.0 282.1 1,905.4 1.4 14.8
14 LT Foods Limited 18,559.8 306.6 3,011.2 1.7 10.2
15 Avanti Feeds Limited 17,852.8 1,165.8 2,599.6 6.5 44.8
16 Venky's (India) Limited 17,642.6 171.5 3,584.1 1.0 4.8
17 Usher Agro Limited# 17,035.5 558.0 4,123.7 3.3 13.5
18 Mcleod Russel India Limited 14,422.7 625.7 12,999.0 4.3 4.8
19 Kohinoor Foods Limited 11,611.3 (725.5) 4,115.6 (6.2) (17.6)
20 Ruchi Infrastructure Limited 10,806.5 (376.0) 2,264.6 (3.5) (16.6)

Top 500 Ranking
Income 38
Ruchi Soya Industries Net Profit 467
Dinesh Shahra, Managing Director

Ruchi Soya Industries Ltd (Ruchi Soya) was incorporated in 1986 and is one of Indias Total Income 284,116.1
leading Agri-FMCG companies and one of the countrys leading cooking oil and soy food
makers and marketers. An integrated player from farm to fork; Ruchi Soya has secured Net Profit (39.9)
access to oil palm plantations in India and other key regions of the world. Ruchi Soya is Networth 21,976.4
also one of the highest exporters of soya meal, lecithin and other food ingredients from EBIDTA 6,139.1
India. Ruchi Soya is committed to renewable energy and exploring suitable opportunities
Ratios (%)
in the sector.
EBIDTA Margin 2.2
Business Profile NPM (0.0)
Ruchi Soya is one of the leading manufacturers and processor of food and food products RONW (0.2)
in India. The company operates under five different segments such as food and speciality (As on Mar 31, 2015)
products, natural polymers (Guar Gum), Oleo Chemicals, Grains and Coffee. The company
also manufactures entire range of vegetable oil and fats extracted from soyabean, Management Details
sunflower, mustard, palmolein, groundnut, vanaspati and bakery fats. Board of Directors
In order to serve the international markets, in 2011 the company set up Ruchi Agritrading Chairman
Kailash Shahra
Pte Ltd (RAS) in Singapore. Ruchi Soya has partnered with global companies such as J-Oil
Mills and Toyota Tsusho Corporation for introducing healthy cooking oils in India and Managing Director
also with D J Hendrick International Inc and KMDI International to research, produce, Dinesh Shahra
market and distribute high yielding Non Genetically Modified (Non GM) Soyabean seeds Directors
with higher oil percentage and nutritional value. It has an extensive distribution network Vijay Kumar Jain
Prabhu Dayal Dwivedi
comprising over seven lakh retail stores, over 100 company depots, and around 6,000
Navamani Murugan
distributors. Navin Khandelwal
The company has processing plants spread out across 20 locations in India. It also has Meera Dinesh Rajda
106 company depots (with storage and other logistical facilities) which serve more than Management Team
5,000 distributors across country reaching across 700,000 retail outlets. The company A B Rao
exports soya based nutritional ingredients and products to over 60 countries across the Nilesh Mazumdar
globe while it exports oil meal products to Vietnam, Japan, Indonesia, Malaysia, South Nitesh Shahra
Pradeep Koolwal
Korea, Europe and Middle East.
RV Ramanujam
Ramji Lal Gupta
The key flagship brands of the company include Nutrela, Mahakosh, Sunrich, Ruchi Star Sarvesh Shahra
and Ruchi Gold. Following are products manufactured under these brands: Satendra Aggarwal
Nutrela: Nutrela is one of the most respected soya foods brand in the country and has V. Suresh Kumar
become generic to the category. Key products under this brand are Nutrela Soya Foods
- Soya Chunks, Soya Mini Chunks, and Soya Granules; Nutrela Healthy Oils Sunflower,
Soyabean and Mustard; Nutrela Premium Table Spread
Mahakosh: Mahakosh Refined Soyabean Oil; Mahakosh Refined Cotton Seed Oil;
Mahakosh Filtered Groundnut Oil; Mahakosh Sunflower Oil; Mahakosh Rice Bran Oil; Address & Website
Mahakosh Vanaspati Oil; Mahakosh Mustard Oil; Mahakosh Hunky Chunky Soya
Registered Office
Sunrich: Sunrich Refined Sunflower Oil Ruchi House,
Ruchi Gold: Ruchi Gold Refined Palmolein; Ruchi Gold Mustard Oil (Kachchi Ghani) Royal Palms,
Aarey Milk Colony,
Near Mayur Nagar,
Manufacturing Capacity Goregaon (E),
As of FY15, Ruchi Soya had a total installed manufacturing capacity of 11.56 MTPA across Mumbai - 400065,
20 locations in India. Of the total capacity, the company has annual oilseed extraction Maharashtra
capacity of 3.72 metric tonnes across 10 locations, edible oil refining capacity 3.30 Website
MTPA across 14 locations, palm fruit processing capacity of 0.9 MTPA across 2 locations, www.ruchisoya.com
vanaspati and bakery fats manufacturing capacity of 0.59 MTPA across 8 locations and
soya meal extraction capacity of 3.05 MTPA across 10 locations. In addition to this as
of FY15, the company also had a captive wind power generation capacity of 85.3 MW
across 11 locations in India.

Nestl India Limited
About the Company
Nestl India Ltd (Nestle) was incorporated in 1912 as The Nestle Anglo-Swiss Condensed Milk Top 500 Ranking
Company (Export) Ltd. Nestle is a subsidiary of Nestle S.A. of Switzerland. In 1961, Nestle started Income 94
its first manufacturing unit at Moga, Punjab and presently operates eight manufacturing facilities in
India. It is engaged in the food business and operates in segments of milk products and nutrition, Net Profit 70
beverages, prepared dishes & cooking aids and chocolates & confectioneries. Products offered by Networth 158
Nestle include vegetable Maggi atta noodles, Maggi pazzta, Maggi bhuna masala, Nestle masala
buttermilk, Milmiad sweetened condensed milk and Maggi cuppa mania amongst others. Some Address
of the brand names under which Nestle markets its products include Milkmaid, Milkybar, Kit kat, M-5A,
Maggi, Nestea, Bar-one and Nescafe amongst others. In FY15, the company launched Maggi oats Connaught Circus,
Noodles and low lactose formula, NAN-LO-LAC. In FY15, Nestle signed an agreement with Magic Bus New Delhi - 110001, Delhi
India Foundation which will enable the company to reach out to 50,000 adolescents across metros Website: www.nestle.in
to provide awareness about nutrition health and wellness.

99,421.6 11,776.9 28,372.1 21,261.2 21.4 11.8 41.5
(As on Dec 31, 2014)
Britannia Industries Limited

About the Company
Britannia Industries Ltd (Britannia) was established in 1892. In 1978, Britannia went public with an Top 500 Ranking
IPO and in 1979 acquired its present name. Britannia mainly operates in two business segments - Income 123
bakery products constituting biscuit, bread, cake & rusk and in dairy products including milk, butter,
cheese, ghee, dahi, milk-based ready to drink beverages & dairy whitener. Some of its prominent Net Profit 128
brands include Good Day, MarieGold, 50-50, NutriChoice, Jim Jam, Bourbon and Milk Bikis among Networth 275
others. The companys manufacturing facilities are locates across the states of WB, Gujarat, Delhi,
Uttarakhand, Bihar and Orissa. The subsidiaries of Britannia include Britannia Dairy Private Ltd Address
(BDPL), Daily Bread Gourmet Foods (India) Pvt Ltd, Strategic Food International Co. LLC, Dubai (SFIC), 5/1A, Hungerford Street,
Al Sallan Food Industries Co. SAOC (ASFI), Britannia Dairy Holdings Private Limited, Mauritius and Kolkata - 700017, WB
Britannia and Associates (Mauritius) Pvt Ltd. In FY15, the company launched NutriChoice Heavens, Website: www.britannia.co.in
Good Day Chunkies and Britannia Nut n Raisin Romance Cake. During the same period, it completed
the Jhagadia factory expansion and acquisition of a contract manufacturing unit in Chennai.

72,635.2 4,803.5 12,229.2 10,010.9 13.8 6.6 39.3
(As on Mar 31, 2015)
Gokul Refoils and Solvent Limited

About the Company
Gokul Refoils and Solvent Ltd (GR&SL) was incorporated in 1992. GR&SL is amongst the leading Top 500 Ranking
FMCG player dealing in edible oils such as soya bean oil, cottonseed oil, palm oil (palmolein), Income 139
sunflower oil, mustard oil, groundnut oil, vanaspati and industrial oils such as castor oil. Some of
its flagship brands include; Gokul, Rozana, Gurjari and Bakery. The company has presence in more Net Profit 448
than 20 states across the country and international presence across Singapore and Mauritius. It Networth 437
operates plants across Sidhpur in Gujarat and Haldia in WB. The company has a capacity of nearly
300,000 MT in seed crushing, annual capacity of 975,000 MT in refining and 675,000 MT in solvent Address
extraction. In FY15, the company increased the capacity of refining Crude palm oil by 200 TPD at State Highway No 41,
Sidhpur plant along with fractionation by adding 250 TPD. Additionally, it also increased capacity of Near Sujanpur Patia,
castor solvent plant by 400 TPD at Sidhpur plant. GR&SL has six wholly owned subsidiaries and one Sidhpur - 384151, Gujarat
associate company. In Aug 2015, the company demerged Gandhidham undertaking to Gokul Agio Website: www.gokulgroup.com
Resources Ltd and Sidhpur undertaking to Gokul Agri International Ltd.

59,217.8 125.4 3,585.9 1,014.2 1.7 0.2 3.5
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 157
Net Profit 260
Kwality Limited Net Worth 369
Sanjay Dhingra, Managing Director
Mr. Dhingras view

The dairy industry currently contributes to around 33% of the value of agricultural production in India and is growing at a CAGR of over 15 %. Unlike
other agricultural crops where income is largely seasonal, milk provides a regular cash-flow on a daily or fortnightly basis. What is needed is good
procurement, remunerative pricing of milk for farmers, and good distribution of milk to consumption centres. The demand for dairy products in India
is likely to grow in the coming years. It has been considered as one of the activities aimed at alleviating poverty and unemployment especially in
the rural areas. Dairy, in effect, could become a great tool for equitable growth and income distribution. Thus, it is necessary to give impetus to this
industry to continue reaping its economic benefits. Fortunately, the government and other stakeholders seem to be alive to the situation and efforts
to increase milk production have been intensified. Transformations in the sector are being induced by factors like newfound interest on the part of the
organized sector, new markets, easy credit facilities, dairy friendly policies by the government, etc. Dairy farming is now evolving from just an agrarian
way of life to a professionally managed industry - the Indian dairy industry. With these positive signals, there is hope that the sector may eventually
march towards another white revolution.
Keeping the high-growth potential of the retail branded segment in perspective, Kwality has increased its focus on this segment significantly. The
company is working towards brand development, enhancement of product portfolio, and strengthening of retail distribution networks. It has also
shifted focus from B2B to B2C and is simultaneously working to improve the ratio of milk procurement from farmers. Considering the plethora of
initiatives, Kwality Ltd is bound to leave an indelible mark on the national and international dairy firmament with its best years yet to come.

Kwality Ltd (Kwality), erstwhile Kwality Dairy (India) Ltd, traces its origin in the year 1992. Total Income 52,805.7
The company was established as a backward integration unit of Kwality Ice Creams India
Ltd. It was acquired by Dhingra Family in 2002. In 2010, it launched its umbrella brand Net Profit 1,409.3
Dairy Best. In 2013, the company acquired its present name. The company is amongst the Networth 6,074.0
fastest growing private sector milk and milk product manufacturers with major presence EBIDTA 3,274.6
in Northern part of the country. It is an ISO 22000:2005, HACCP-IS: 15000 and Agmark
Ratios (%)
approved company. Kwality has strong people focus and is the first dairy company in
India to roll out ESOP across the board.s EBIDTA Margin 6.2
NPM 2.7
Business Profile
RONW 23.2
Kwality, Indias largest & fastest growing private dairy company, is engaged in the dairy (As on Mar 31, 2015)
business and offers a wide range of milk products. Its business is broadly categorised
into five major segments namely; fat-based products, milk powder, milk, curd and other Management Details
value added products marketed under various brands like KDIL, Kwality, Good-Health, Chairman
Wake Up, Kream-Kountry, Livlite and Dairy Best. RS Khanna
1. Fat-based products: Pure ghee, pure cow ghee, low cholesterol ghee and butter Managing Director
are some of the key products manufactured under this segment. The company has S Dhingra
ventured into the low cholesterol ghee domain with the launch of Livlite, which Directors
contains 85% less cholesterol. This business follows a B2C format and its products M Dahiya
SK Bhalla
are targeted to end customers.
S Gupta
2. Milk Powders: Under this segment, the company manufactures whole milk powder A Srivastava
(WMP), skimmed milk powder (SMP), dairy creamer (DC), dairy whitener A Mehrotra
(DW) by segregating the SNF (Solids Not Fat) from the liquid milk. The business Address & Website
caters to institutional client base such as ITC, Cafe Coffee Day, etc. and mainly finds
Kwality House
application for making biscuits, ice creams, sweets and other milk-based products.
F-82, Shivaji Place
3. Curd: Under this segment, Kwality manufactures and markets pouched curd and Rajouri Garden
set curd. The products are available in 1kg, 2kg,5kg & 15kg matkas, 200 gm, 400 gm New Delhi 110027
& 1 kg pouches and 80 gm, 200 gm & 400 gm cups. Delhi
Email: [email protected]
4. Milk: The company processes and markets milk in various forms namely; full cream Ph: +91 11 47006500
milk, standard milk, toned milk, double toned pasteurized milk. These products
Website
are available in both pouches and tetra packs. This accounts for nearly 74% of the
www.kdil.in
companys overall revenues
5. Others: Apart from the prominent business segments mentioned above, the
company also produces and distributes other value added milk products such as
sweet lassi, chaach, paneer and flavoured milk

With a gradual shift from B2B to B2C business, the company is enhancing its product portfolio and transforming itself into a complete
dairy products FMCG player. The company caters to leading FMCG brands, government organizations, religious institutions, and retail
chains such as Britannia, Hindustan Unilever, ITC, Mother Dairy, Cadburys, Parle Agro, Canteen Stores Department, Indian Railways,
Vadilal, Cream Bell, Gianis, Cafe Coffee Day, Bikanerwala, Nathus, Kaleva, Big Bazar, Reliance Fresh, Aditya Birla Retail Tirumala Tirupati
Devasthanams, Shiromani Gurdwara Parbandhak Committee, Amritsar, Delhi Sikh Gurdwara Management Committee etc.
Milk Procurement & Distribution Network

Kwality has various milk processing plants with a capacity to handle 3.2 mn litres of milk per day. Currently, Kwality has six manufacturing
units located at Palwal (Haryana), Ajmer (Rajasthan) and Bulandshahar, Saharanpur, Sitapur and Agra areas of UP. Further, Kwality has
an extensive network of milk chilling centres situated across Rajasthan, UP, Punjab, and Haryana for direct collection of milk from milk
producers, besides established network of vendors to source quality milk, which is one of the most important success factors in the
industry. The company is expanding its existing unit in Palwal, from its current capacity of 21.60 Lakh Litres per day to 29.10 Lakhs
Litres per Day. The company operates three procurement models; namely; direct procurement model, contractor procurement model
and hybrid procurement model. Nearly 85% of milk is procured through large contractors under the contractor and hybrid model. The
remaining is derived through its own network which involves milk producer members (MPM), village collection centres (VLCC) and
milk chilling centres (MCC). At present, it operates more than 20 MCCs across Rajasthan, UP and Haryana. The company operates a
Pan-India distribution network of super stockists & distributors with direct selling to institutional buyers and modern trade outlets. The
retail products are marketed through Channel partners-1800 distributors and 40000 retail outlets. The company has engaged Ernst &
Young (EY) as its IT transformation partner to realign IT infrastructure, frameworks and policies in line with B2C strategy and playing a
key role in overall business transformation.
Export Operations
Kwality has emerged as one of the largest exporter of dairy products from India, exporting across continents like Asia, Africa & Australia
and to more than 28 countries including Japan, UAE, Seychelles, Bangladesh, Sri Lanka, Jordan, Nigeria, Morocco etc. Apart from
exports from India, Kwality has established Kwality Dairy Products- FZE, a wholly owned subsidiary in the free trade zone of UAE. The
company is engaged in import of dairy products from India, Australia, New Zealand and Eastern European Countries including Turkey,
Ireland, Holland, Poland and Ukraine, New Zealand and selling products, both domestically and export to GCC, Middle East, Far East,
Bangladesh, China, Thailand and Africa among others.
Future Plans
Kwality aims at achieving development of its direct farmer connect network to achieve sustainable growth. The company is targeting
direct farmer procurement mix from current ca. 15% to ca. 50% in the near future. It also has plans to open 25-30 MCCs in the next
2 years. Apart from milk procurement network, it also plans to enhance its product portfolio and consumer brands. Currently, its
branded product portfolio accounts for nearly 40% of its overall revenues, which is expected to grow in the next few years. It plans to
set up manufacturing facilities for products like variants of cheese, drinking yogurt, butter in tubs, cream in tetra pack, flavoured milk
and UHT milk among others. It is also expected to launch milk powders for retail consumers in small packages. Akshay Kumar has been
roped in as a brand ambassador for the company.
Kwality Ltd.

GlaxoSmithKline Consumer Healthcare Limited
About the Company
GlaxoSmithKline Consumer Healthcare Ltd (GSKCH) was promoted by Horlicks Ltd as Hindustan Top 500 Ranking
Milkfood Manufacturers Pvt Ltd in 1958. In 1969, it became a subsidiary of Beecham Plc; which Income 176
was merged with SmithKline USA in 1989. Later in the year 2000, SmithKline Beecham and Glaxo
Wellcome merged to form GSKCH. The company operates in two segments namely nutritional food Net Profit 110
business and OTC products. Under nutritional business, it manufactures and markets products Networth 193
under brands Horlicks, Boost, Viva and Maltova; while its OTC business includes brands like ENO,
Crocin and Iodex among others. Some of the products offered by GSKCH include Junior Horlicks, Address
Horlicks Biscuits, Horlicks Ninja, Crocin Advance, Crocin Pain Relief, Iodex Ultra Gel and Iodex Patiala Road,
Headfast amongst others. The company operates plants at three locations namely; Nabha in Punjab, Nabha - 147201, Punjab
Dowleswaram in AP and Sonepat in Haryana. In FY15, GKSCH re-launched Horlicks Gold, Mothers Website: www.gsk-ch.in
Horlicks, Standard Horlicks and Chocolate Horlicks with new formulations. During the same period,
the company also launched Junior Horlicks Evo Jar with new structure and graphics.

45,294.8 5,836.0 21,088.4 9,519.7 21.0 12.9 27.7
(As on Mar 31, 2015)
JVL Agro Industries Limited

About the Company
JVL Agro Industries Ltd (JVL Agro) was incorporated in 1989 as Jhunjhunwala Vanaspati Ltd and Top 500 Ranking
acquired its present name in the year 2008. The company is engaged in the manufacturing of Income 182
refined soyabean oil, refined palm oil, refined sunflower oil, refined cotton seed oil, vanaspati along
with mustard oil and bakery shortening agents. The company has manufacturing facilities located Net Profit 425
in UP, Bihar, Rajasthan and WB with an installed capacity of producing 165,000 MTPA of vanaspati, Networth 393
600,000 MTPA of refined oil and 120,000 MTPA of mustard oil. The Company also produces rice
from its mill in Bihar with a production capacity of 60,000 MTPA. JVL Agro markets its products Address
under various brands which includes Jhoola, Shankar, Royal and Payal amongst others. As on Jhunjhunwala Bhawan,
Mar 31 2015, JVL Agro operated through a network of 7,000 dealers across the country and an Nati Imli,
operational cum supply chain management office in Singapore. In FY15, JVL Agro commissioned a Varanasi - 221001, UP
sunflower oil processing plant at the Haldia unit and launched a premium mustard and soyabean Website: www.jvlagro.com
oil brand Royal.

44,096.8 216.2 5,248.6 1,063.6 2.4 0.5 4.1
(As on Mar 31, 2015)
KRBL Limited
About the Company
KRBL Ltd (KRBL) was originally established in Faisalabad, Pakistan in 1889. It was eventually Top 500 Ranking
incorporated in Delhi in 1993. The company is branded as a Basmati rice company with milling Income 232
capacities of 195 MT per hour. It is engaged in multiple aspects of the Basmati value chain, including
seed development, contract farming, procurement of paddy, storage, processing, packaging, Net Profit 186
branding, and marketing. The company holds around 25% market share in the branded Basmati Networth 269
exports from India and around 30 percent share in the branded Basmati sale in the domestic market.
The companys reputed brands include India Gate, Doon, Nur Jahan, Indian Farm, Bemisal, Aarati, Address
Unity, Lotus, Taj Mahal Tilla, Shubh Mangal, Necklace, Lion, Al Wasin, Train, Al Bustan, Telephone, 5190, Lahori Gate,
Southern Girl, Alhussam, Blue bird and City Palace. KRBL has an extensive geographical presence in New Delhi - 110006, Delhi
the Middle East region, with Saudi Arabia, UAE, Kuwait, Bahrain, Iran, Iraq and Qatar among the key Website: www.krblrice.com
buyers of its Basmati rice. The contact farming network covers more than 250,000 acres, reaching
out to more than 90,000 farmers in the rice-producing states of Western UP, Uttarakhand, Punjab
and Haryana. KRBLs manufacturing facilities are located in Ghaziabad, Dhuri and Delhi.

31,163.9 2,850.5 12,575.6 4,828.6 15.5 9.1 22.7
(As on Mar 31, 2015)

Tata Global Beverages Limited
About the Company
Tata Global Beverages Ltd (TGB) was set up in 1964 as Tata Finlay through an alliance between Top 500 Ranking
Tata Sons and James Finlay & Company. In 2010, the company acquired its present name. In Income 238
2012, it signed a JV with Starbucks and formed Tata Starbucks Ltd. The company also has a JV
with PepsiCo called NourishCo, which produces non-carbonated ready-to-drink beverages. TGB Net Profit 163
operates in three segments viz tea, coffee and others like the sale of natural mineral water, minor Networth 33
crops, curing operations of coffee, etc. It markets its products under brands Tata Tea, Tetley, Good
Earth Tea, Himalayan Water and Eight oclock among others. The company operates plants across Address
Karnataka and Idukki, Munnar and Kochi areas of Kerala. It also has a presence in more than 40 1, Bishop Lefroy Road,
countries worldwide. In 2015, Tata Tea launched a new variant of green tea called Acti Green and Kolkata - 700020, WB
Tata Starbucks added 29 new stores during 2015, taking the store count to 72 stores as at the end Website: www.tataglobalbeverages.com
of the FY15.

30,396.9 3,579.1 249,572.9 4,030.0 13.3 11.8 1.4
(As on Mar 31, 2015)
Hatsun Agro Product Limited

About the Company
Hatsun Agro Product Ltd (Hatsun) was originally incorporated in 1986 as Hatsun Foods Pvt Ltd, Top 500 Ranking
eventually acquiring the present name in 1998. It is among the largest private sector dairy companies Income 242
in India. The company is engaged in the production and marketing of a wide array of dairy products,
including dairy whitener, skimmed milk powder, Agmark certified ghee, butter, cooking butter, milk, Net Profit 388
curd, buttermilk, paneer and icecreams. The company exports dairy ingredients to 38 countries in Networth 483
America, the Middle East and South East Asia. For the procurement of milk, the company depends on
around 8,500 Hatsun Milk Banks (HMB) which cover over 10,000 villages, with each HMB receiving Address
milk from 3.2 lakh farmers. Hatsun has chilling centers in more than 68 locations, more than 1,300 DOMAINE, Door No. 1/20A,
contract vehicles, milk sheds spread over 10 districts in TN and three districts in Karnataka. Some Rajiv Gandhi Salai (OMR),
of the companys reputed brands are Arun Icecreams, Arokya Milk, Hatsun Milk Products, Dairy Karapakkam,
Ingredients Milk powder and Cream products, Ibaco - icecream outlet, Santosa cattle feed, and Chennai - 600097, TN
Hatsun Daily delivery centres. Website: www.hatsun.com

29,391.0 391.6 2,057.2 2,035.1 6.9 1.3 19.0
(As on Mar 31, 2015)
Sanwaria Agro Oils Limited

About the Company
Sanwaria Agro Oils Ltd (SAOL) is a part of Sanwaria group was incorporated in 1991 and commenced Top 500 Ranking
its production in 1993. It is an integrated agro food processing company primarily engaged in the Income 255
manufacturing and sale of edible oil, crude oil, refined oil etc of soya bean. Its product portfolio
encompass rice, rawa, maida, salt, soya chunk (bari), fortified soya oil, high protein soya meal, Net Profit 422
full fated and defatted soya flour among others. Its products are marketed under the brands Networth 468
Sanwaria, Sulabh and Narmada. SAOL operates five manufacturing units that are located across
the Mandideep, Itarsi and Betul areas of MP. During FY15, the company processed 103,640 MT of Address
soya seeds and produced 17689 MT of soya oil, 90169 MT of de-oiled cake, 13,765 MT of refined E-1/1, Arera Colony,
oil and 35,312 MT of rice. During the same period, it operated two subsidiaries namely; Sanwaria Bhopal - 462016, MP
Singapore Pte. Ltd (Singapore) and Sanwaria Energy Limited. In Nov 2015, the company introduced Website: www.sanwariaagro.com
its basmati rice brand Nashira for the Middle East market and others.

26,625.2 250.4 2,654.6 697.9 2.6 0.9 9.4
(As on Mar 31, 2015)

Gujarat Ambuja Exports Limited
About the Company
Gujarat Ambuja Exports Ltd (GAEL) was incorporated in 1994. The company is engaged in solvent Top 500 Ranking
extraction including all types of oil seed processing, refining of edible oil, cotton yarn spinning, Income 266
production of maize based starch and its derivatives, wheat processing, and production of cattle
feed. The company also generates power through wind mills, bio gas and thermal power plants, Net Profit 318
mainly for internal consumption. GAELs manufacturing units are located in the states of Gujarat, Networth 326
Maharashtra, MP, Uttarakhand and Karnataka. The agro processing segment has two major
products, deoiled cakes and edible oil. The company has recently focussed on the development Address
of value added soya derivatives like granules and defatted flour, which command better returns. Ambuja Tower,
The maize processing segment, also known as the Golden Triangle, is a major contributor in terms Opp. Memnagar Fire Station,
of exports. The cotton yarn segment involves the manufacture of 100% cotton ring spun yarn and P.O. Navjivan, Navrangpur,
open end yarn, which is exported to more than 40 countries. The company has a wholly owned Ahmedabad - 380014, Gujarat
subsidiary in Singapore, which is mainly focused on expanding international business and trading Website: www.ambujagroup.com
activities.

25,404.3 841.7 8,248.1 1,711.7 6.7 3.3 10.2
(As on Mar 31, 2015)
Heritage Foods Limited

About the Company
Heritage Foods Ltd (HFL), the flagship company of Heritage Group, was established in 1992 and Top 500 Ranking
commenced its operations with distribution of milk and milk products. In Jul 2013, the companys Income 307
name was changed from Heritage Foods (India) Ltd to its present name. HFL operates five businesses
namely dairy, retail, agri, bakery and renewable energy. Under dairy segment, it offers full range Net Profit 415
of milk & dairy products including fresh milk, curd, butter-milk, lassi, ice-cream, paneer, table Networth 487
butter, milk powder, flavored milk, UHT milk and dairy whitener. Its dairy network comprises of 14
processing and packing plants, 1,274 dairy parlours and 5,200 agents and distributors. Under retail Address
segment, the company operates more than 90 retail chain stores under the brand name Heritage 6-3-541/C,
Fresh. Under agri segment, it is engaged in contract farming, agri home, greenhouses and cattle Panjagutta,
feed and maze. HFL, under its bakery segment, its product range includes includes breads, cakes, Hyderabad - 500082, Telangana
pastries, desserts, savories and cookies. In FY14, HFL added 22 new retail stores to its network and Website: www.heritagefoods.in
enhanced its diary footprint in NCR Delhi.

20,800.0 282.1 1,905.4 880.8 4.2 1.4 14.8
(As on Mar 31, 2015)
LT Foods Limited
About the Company
LT Foods Ltd (LT Foods) was incorporated in 1990 as LT Overseas. The company is primarily engaged Top 500 Ranking
in the business of milling, processing and marketing of branded and non-branded basmati rice and Income 335
manufacturing of rice food products in the domestic and overseas market. The product portfolio
includes brown rice, white rice, steamed rice, parboiled rice, wheat and pulses, healthy snacks, Net Profit 404
spices and other value-added products like flex seeds and cashew nuts. LT Foods markets its Networth 458
products under the brands Daawat, Royal, Devaaya, Heritage and Ecolife. LT Foods operates five
manufacturing facilities located in the states of Haryana, Punjab and MP and has a global presence Address
in over 65 countries. In Mar 2016, LT Foods entered into an agreement to acquire the branded rice Rectangle - 1,
business comprising of two brands Gold Seal Indus Valley and Rozana of Hindustan Unilever Ltd. Saket District Centre,
The company also entered into MoU with Future Group to set up a JV to undertake business of New Delhi - 110017, Delhi
sourcing, manufacturing, marketing, sales, and distribution of regional rice like sona masoori rice/ Website: www.ltoverseas.com/India
south Indian rice in Mar 2016.

18,559.8 306.6 3,011.2 1,586.7 8.5 1.7 10.2
(As on Mar 31, 2015)

Avanti Feeds Limited
About the Company
Avanti Feeds Ltd (Avanti Feeds) commenced its commercial operations in 1993. The company is Top 500 Ranking
primarily engaged in manufacturing of prawn feed, shrimp processor and exports from India. Avanti Income 342
produces the international quality feeds for prawn and fish in collaboration with prawn & fish feed
manufacturer Thai Union Feed Mill Co Ltd, Thailand and Pingtai Enterprises Co Ltd, Taiwan. Some Net Profit 279
of its brands under prawn feeds include Profeed, Titan, Manamei and Champ; while fish feeds are Networth 470
marketed under the brand name Mermaid and scampi feed under the brand name Classic and
Scampro. Avanti Feeds operates three prawns and a fish feed manufacturing units located in Kovvur, Address
AP and Valsad, Gujarat with a capacity of 90,000 MTPA. Besides, the company also operates four G-2, Concorde Apartments,
windmills with a combined capacity of 3.2 MW at Chitradurga, Karnataka. In FY15, Avanti Feeds sold Somajiguda,
233,489 MT of shrimp feed and its shrimp processing and export division registered sales of 3,409 Hyderabad - 500082, Telangana
MT. During the year, the companys wind mills generated 5.54 MU of power. Website: www.avantifeeds.com

17,852.8 1,165.8 2,599.6 1,894.0 10.6 6.5 44.8
(As on Mar 31, 2015)
Venkys (India) Limited

About the Company
Venkys (India) Ltd (Venkys), a part of VH Group was established in 1976, mainly to produce day- Top 500 Ranking
old layer and broiler chicks for the dense poultry markets of North India. The company operates Income 343
in three segments namely poultry and poultry products, animal health products and oilseed. The
poultry and poultry products segment produces and sells chicks, grownup commercial broiler Net Profit 438
and layer, processed chicks, SPF Eggs, poultry feed and other poultry products. The animal health Networth 438
products segment manufactures and sells medicines and other health products for birds such as
toxin binders, acidifiers, iron tonic, phytase enzyme, liver tonics, dewormers and anti gout amongst Address
others. The oilseed segment produces and sells edible refined soya oil and soya de-oiled cake. S.No.114/A/2,
The company has its manufacturing facilities located in the states of Maharashtra, Gujarat, UP, Pune - Sinhagad,
Uttaranchal, Haryana, Punjab, MP, HP, J&K, Bihar and Rajasthan. In FY15, Venkys sold 34,741 MT of Pune - 411030, Maharashtra
poultry feed, 26,791 MT of refined oil, 124,091 MT of de-oiled cake for poultry feed, 7.5 mn kgs of Website: www.venkys.com
processed chicken and 107.3 mn commercial chicks.

17,642.6 171.5 3,584.1 1,309.2 7.4 1.0 4.8
(As on Mar 31, 2015)
Usher Agro Limited

About the Company
Usher Agro Ltd (Usher Agro), incorporated in 1996 is an agro-food processing company with Top 500 Ranking
integrated milling capacities of rice, wheat and pulses. The company produces non-basmati rice, Income 348
maida, whole meal aata, daliya, wheat bran, semolina premium, pulses and pulse flour. Usher Agros
rice mills are located Mathura, Chhata and Buxar with a total rice milling capacity of 1,081,440 Net Profit 360
MTPA, wheat milling capacity of 125,400 MTPA and pulses and multi grain flour milling capacity Networth 416
of 128,700 MTPA. Usher Agro also manufactures silica with a plant capacity of 2,000 MTPA at
Chhata, UP. The company markets its wheat products under the brand name Rasoi Raaja. In Oct Address
2015, Usher Agro through its subsidiary Usher Eco Power Ltd signed a procurement agreement 422, Laxmi Plaza,
with Goodyear Tire and Rubber Company for supply of green silica and through its wholly owned Laxmi Industrial Estate,
subsidiary Usher Worldwide FZE and Prime Trading Company Ltd signed a JV agreement with AI New Link Road, Andheri (West),
Mada Project Management Company and Sohar Food Cluster Company LLC for setting up rice and Mumbai - 400053, Maharashtra
pulses distribution hub at Port of Sohar. Website: www.usheragro.com

17,035.5 558.0 4,123.7 2,154.5 12.6 3.3 13.5
(As on Mar 31, 2015)

McLeod Russel India Limited
About the Company
McLeod Russel India Ltd (MRIL) originally started operations by planting tea in India in 1869, Top 500 Ranking
eventually going on to be incorporated in 1988. It is engaged in the cultivation, processing and Income 388
marketing of tea, of which it is one of the worlds largest producers. The company primarily produces
crushed, torn and curled (CTC) tea, which accounts for around 90% of its total production. The tea is Net Profit 352
marketed under the registered Elephant trade mark. The company produces in excess of 100 million Networth 261
kg of black tea every year. It exports nearly 40% of its products, to around 25 countries across the
Middle East, Europe and North America. The company manages 48 tea estates in the Assam Valley Address
and five in the Dooars region of WB, three factories in Vietnam, six estates in Uganda and two 4, Mangoe Lane,
estates in Rwanda, including the world-renowned Gisovu estate. The companys blending units are Surendra Mohan Ghosh Sarani,
located in Dubai and in Nilpur. MRIL has one wholly owned subsidiary, Borelli Tea Holdings Ltd, UK Kolkata - 700001, WB
and seven step down subsidiaries, all of whom are based outside India. Website: www.mcleodrussel.com

14,422.7 625.7 12,999.0 1,768.7 12.3 4.3 4.8
(As on Mar 31, 2015)
Kohinoor Foods Limited

About the Company
Kohinoor Foods Ltd (Kohinoor Foods) was incorporated in 1989 in the name of Satnam Overseas Top 500 Ranking
Ltd. In 2011, the company entered into JV with McCormick Ingredients Southeast Asia Pvt Ltd to Income 446
oversee the domestic operations of both food and rice businesses of the company. The company
offers a wide range of assortment of food products including basmati rice, wheat flour, ready to Net Profit 483
eat curries & meals, simmer sauces, cooking pastes, spices, seasoning & frozen foods, pure ghee, Networth 417
paneer, ready mixes, namkeen & sweets, chutneys, readymade gravies and frozen breads amongst
others. The company market its products under the brand Kohinoor. The company operates a rice Address
factory in Murthal, Haryana. Kohinoor Foods market its products to over 60 countries worldwide 201, Vipps Centre,
including US, UK, Canada, Australia, Middle East, Singapore, Japan, Mauritius and other European Masjid Moth,
countries. In FY15, it recorded a growth of more than 22% in export of basmati rice. Some of the Greater Kailash II,
new products introduced in FY15 include; rice bran oil and healthy range of microwaveable products New Delhi - 110048, Delhi
such as Brown Rice with Red Quinoa, Brown Rice with Chia and Multigrain. Website: www.kohinoorfoods.in

11,611.3 (725.5) 4,115.6 97.6 0.8 (6.2) (17.6)
(As on Mar 31, 2015)
Ruchi Infrastructure Limited

About the Company
Ruchi Infrastructure Ltd (Ruchi Infra) was incorporated in 1984 as Columbia Leasing & Finance Top 500 Ranking
Limited. The company acquired its present name in the year 1995. The company has a diversified Income 469
business which includes manufacture, process, refine, import, export, buy, sell and deal in edible oils,
vanaspati, oils, de-hydrogenated vegetable oils, oils made or processed or solvent extracted from Net Profit 480
seeds; power generation by conventional and non-conventional methods, to set up of liquid/solid Networth 478
storage tank, warehousing and logistics services for letting out on rent and to carry on the business
of builders, contractors, dealers and construction of malls, highways, flyovers, complexes, dams, Address
canals, ports, docks, runways and other infrastructure projects. In FY15, Ruchi Infra transferred 615,
its oil refinery business to Ruchi Soya Industries Ltd. As on Mar 31 2015, the company operated Tulsiani Chambers,
four subsidiaries namely Mangalore Liquid Impex Pvt Ltd, Union Infrastructure Solutions Pvt Ltd, Nariman Point,
Peninsular Tankers Pvt Ltd and Ruchi Renewable Energy Pvt Ltd. Mumbai - 400021, Maharashtra
Website: www.ruchiinfrastructure.com

10,806.5 (376.0) 2,264.6 584.5 5.4 (3.5) (16.6)
(As on Mar 31, 2015)

Top 500 Ranking
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Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
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(As on Mar 31, 2015)

Top 500 Ranking
Income
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(As on Mar 31, 2015)

F ootwear
Footwear
Comparative Matrix

Company Name
1 Bata India Limited# 21,897.9 1,597.2 9,628.2 7.3 16.6
2 Relaxo Footwears Limited 14,812.0 1,030.5 3,623.9 7.0 28.4

Bata India Limited
About the Company
Bata India Ltd (Bata) was incorporated in 1931 as Bata Shoe Company Pvt Ltd. The company was Top 500 Ranking
initially set up as a small operation in Konnagar, near the erstwhile Calcutta. It eventually went Income 296
public in 1973, when it changed its name to Bata India Ltd. Bata has established itself as one of
Indias leading manufacturers and retailers of footwear. Apart from footwear, it also manufactures Net Profit 237
accessories like bags, belts, scarves, sunglasses, wallets, etc. It operates five manufacturing Networth 301
facilities and has a retail network of over 1,400 stores. The company also operates a large non-
retail distribution network through its urban wholesale division and caters to millions of customers Address
through over 30,000 dealers. During the period Jan 2014-Mar 2015, the company opened 159 new 27B, Camac Street,
retail stores across India, which were larger in size and based on global design. Its premium brand 1st Floor, Kolkata - 700016, WB
Hush Puppies has expanded its presence through 63 exclusive stores and 36 shop-in-shops. By the Website: www.bata.in
end of Mar 2015, the companys digital multi-channel business reached approximately 1,400 cities
across India.

21,897.9 1,597.2 9,628.2 3,277.2 15.0 7.3 16.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 383
Net Profit 296
Relaxo Footwears Limited Net Worth 435
Ramesh Kumar Dua, Managing Director

MD Message Financial Snapshot (In ` mn)
At Relaxo our constant endeavor is to provide quality products at value pricing. Our Total Income 14,812.0
philosophy is as simple as ABCD, i.e. to provide Affordable, Beautiful, Comfortable and
Durable products. We aspire to be a pan India market leader across footwear categories Net Profit 1,030.5
and have grown aggressively in the last 4 years, while maintaining our focus on meeting Networth 3,623.9
consumer needs. From a topline perspective, our growth is driven by a healthy mix of EBIDTA 2,002.8
volume growth and premiumization. This is largely a result of brand building, better
Ratios (%)
products for our consumers, enhanced distribution and growth in new channels such as
e-commerce and modern trade. In terms of bottom line, initiatives such as driving cost EBIDTA Margin 13.5
efficiencies in manufacturing, value engineering and managing fixed costs have helped NPM 7.0
deliver strong year-on-year bottom line performance. Lastly, we have invested a lot of
RONW 28.4
effort and resources in building our people and systems in order to ensure that we are a
(As on Mar 31, 2015)
future ready organization.
Management Details
About the Company Managing Director
Relaxo Footwears Ltd (RFL) is one of the leading and most popular footwear companies Ramesh Kumar Dua
in India. Headquartered in New Delhi, India, it manufactures footwear which are a fine Directors
combination of comfort, style, and workmanship and is embarking upon appreciable Mukand Lal Dua
growth plans for the future. Being one of the widely celebrated Indian footwear brand, Nikhil Dua
the company offers a wide collection of fashionable and comfortable products for Deval Ganguly
Vivek Kumar
women, men, and children. Since its inception, the company has gone on to become
Pankaj Shrimali
one of the largest producers of footwear in India with an estimated business value of Kuruvila Kuriakose
` 15 bn in 2015. The company offers quality footwear products and at affordable prices Deepa Verma
to the millions of customers in India and many countries around the world.
The company was incorporated in 1984 as a trading arm of the Relaxo group. Later
it went public in 1995 and established its first manufacturing plant in Bahadurgarh.
Today the company has eight manufacturing units spread in northern part of India
with a production capacity of six lac pairs of footwear per day, catering to varied
needs of consumers worldwide. Relaxo brings a fine combination of comfort, style and
workmanship under its popular brands i.e. Relaxo, Flite, Bahamas, Sparx and Schoolmate.
The footwear products offered under the brands signify extreme stylishness and come in
varied alluring colours and exquisite designs.
Relaxo Brands at a glance

Relaxo: Relaxo is the oldest brand in the company portfolio. The brand encompasses the
Address & Website
companys popular Hawaii slippers which come in diverse shades and styles making them
a favorite among all age groups. With an output of 300,000 pairs a day, the company is Aggarwal City Square,
one of the largest manufacturers of Hawaii slippers in India. Plot No. 10, Manglam Place,
District Centre, Sector-3,
Flite: Flite is Relaxos most exclusive brand. Its unique fashionable and lite quality is
Rohini, Delhi-110085 (India)
ensured by its manufacturing process, involving cutting-edge EVA technology. Available
Website
in an array of colours and designs, it is among the most popular brands in the footwear
www.relaxofootwear.com
industry.
Bahamas: These trendy slippers have been manufactured by giving a due consideration Shop online at
www.shopatrelaxo.com
to the serenity, vibrancy, coolness and fun of Bahamas. The new range of Bahamas offers
colours, designs and patterns that will enhance the cool quotient of the customers and /relaxofootwears
provide an utmost comfort and style.
Sparx: Under this brand, the company manufactures a range of sports shoes and sandals /@relaxofootwears
that embodies the spirit of todays youth. The products under Sparx range are available /relaxoindia
in awe-inspiring colours and designs reflecting the verve and dynamism.
Schoolmate: Schoolmate is a range of school shoes manufactured by Relaxo for boys and
girls and is an expression of Relaxos faith and commitment towards the young leaders
of tomorrow.

Gas - Processing,
Transmission and
Marketing
Gas - Processing, Transmission
and Marketing
Comparative Matrix

Company Name
1 GAIL (India) Limited 575,861.3 29,596.0 283,755.8 5.1 10.4
2 Petronet LNG Limited 396,557.3 8,825.2 5,582.9 2.2 158.1
3 Gujarat Gas Limited 91,134.0 4,435.8 18,249.2 4.9 24.3
4 Indraprastha Gas Limited 37,155.3 4,377.3 20,927.7 11.8 20.9
5 Gujarat State Petronet Limited 11,166.1 4,103.6 34,949.7 36.8 11.7

GAIL (India) Limited
About the Company
GAIL (India) Ltd (GAIL) was incorporated in August 1984 as a PSU and was conferred with Navratna Top 500 Ranking
status in 1997. The company is primarily engaged in the marketing and transmission of natural Income 13
gas and LPG, petrochemicals, production of LPG and other liquid hydrocarbons. It is also engaged
in city gas distribution, E&P, telecom & telemetry services through GAILTEL and gas-based power Net Profit 32
generation. GAIL has created a wide network of natural gas pipelines covering more than 10,900 Networth 28
km with a capacity of around 200 MMSCMD, two LPG pipelines covering more than 2,000 km with
a capacity of 3.8 MMTPA, seven gas processing plants for LPG and other liquid hydrocarbons with a Address
production capacity of 1.4 MMTPA and a gas based integrated petrochemical plant of 410,000 TPA GAIL Bhawan,
polymer capacity. It has also built a strong optic fibre cable network of approximately 13,000 km for 16 Bhikaji Cama Place,
its own internal use and leasing of bandwidth. It is considered to be a pioneer in city gas distribution R K Puram, New Delhi 110066, Delhi
in India, having launched joint ventures Indraprastha Gas Ltd in Delhi and Mahanagar Gas Ltd in Website: www.gailonline.com
Mumbai in the 1990s. GAIL is also part of consortium in two offshore E&P blocks in Myanmar.

575,861.3 29,596.0 283,755.8 55,996.4 9.7 5.1 10.4
(As on Mar 31, 2015)
Petronet LNG Limited

About the Company
Petronet LNG Ltd (PLL) was incorporated in 1998 as a joint venture by the Government of India, and Top 500 Ranking
is promoted by GAIL, ONGC, IOCL and BPCL. The company is primarily engaged in the import and Income 27
re-gasification of Liquefied Natural Gas (LNG) and in the setting up of LNG terminals in India. The
company also provides regasification services to companies who import LNG directly. The company Net Profit 84
commenced its commercial operations in 2004. Among the major suppliers of LNG to PLL are the Networth 383
Qatar-based RasGas and Australia-based Exxon Mobil. PLL set up the countrys first LNG receiving
and regasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala. While the Dahej Address
terminal has a nominal capacity of 10 MMTPA (equivalent to 40 MMSCMD of natural gas), the Kochi 1st Floor,
terminal has a capacity of 5 MMTPA (equivalent to 20 MMSCMD of natural gas). In order to reduce World Trade Center,
and optimize power consumption, especially in the re-gasification process, the company is setting Babar Road, Barakhamba Lane,
up a 40 MW wind power project in Gujarat for captive use at the Dahej LNG terminal. New Delhi - 110001, Delhi
Website: www.petronetlng.com

396,557.3 8,825.2 5,582.9 15,672.7 4.0 2.2 158.1
(As on Mar 31, 2015)
Gujarat Gas Limited

About the Company
Gujarat Gas Ltd (GGL) was incorporated in 2012 as GSPC Distribution Networks Ltd. The company Top 500 Ranking
acquired its present name in 2015 pursuant to amalgamation of GSPC Gas Company Ltd, Gujarat Income 100
Gas Company Ltd, Gujarat Gas Financial Services Ltd and Gujarat Gas Trading Company Ltd with
the company. The company is primarily engaged in natural gas business involving distribution Net Profit 141
of gas from sources of supply to centers of demand and to the end customers. GGL distributes Networth 215
PNG through mild steel and polyethylene pipelines and CNG through CNG sun-stations. GGL also
owns and operates HAPi pipeline which starts at Hazira and end at Ankleswar in Gujarat. GGL has Address
distribution presence spread across 19 districts in the state of Gujarat and Union Territory of Dadra 2 Shanti Sadan Society,
Nagar Haveli and Thane GA which includes Palghar district of Maharashtra. Presently, the company Near Parimal Garden,
serves over 1 mn residential customers, dispense CNG through a network of 234 CNG stations and Ellisebridge,
provides clean energy solutions to over 2,750 industrial units in Gujarat with a pipeline network of Ahmedabad - 380006, Gujarat
over 15,000 km. Website: www.gujaratgas.com

91,134.0 4,435.8 18,249.2 2,372.9 2.6 4.9 24.3
(As on Mar 31, 2015)

Indraprastha Gas Limited
About the Company
Indraprastha Gas Ltd (IGL) was incorporated in 1998 and in 1999 it took over Delhi City Gas Distribution Top 500 Ranking
Project from GAIL (India) Ltd which was started to lay the network for the distribution of natural gas Income 209
in Delhi. The company is involved in the business of distributing CNG to automotive sector and PNG
to domestic and commercial sectors in Delhi and NCR regions. The company operated steel pipeline Net Profit 143
network of 680 kms and and MDPE network of 8,967 kms as on Mar 31 2015. As on Mar 31 2015, Networth 194
the company operated with a wide network of 326 CNG stations comprising of 280 stations in Delhi
and 46 stations in NCR. In FY15, IGL has augmented its CNG distribution infrastructure by enhancing Address
the installed compression capacity to 68.50 lakhs Kg/day from 66.81 lakhs Kg/day in FY14. During IGL Bhawan, Plot No. 4,
the year, the company provided 59,029 PNG connections in Delhi and 42,256 PNG connections in Community Centre,
NCR taking the total number of connections to 560,752 as on Mar 31 2015.In FY15, IGL catered to Sector-9, R.K. Puram,
1,566 commercial customers and 726 industrial customers. New Delhi - 110022, Delhi
Website: www.iglonline.net

37,155.3 4,377.3 20,927.7 8,265.0 22.2 11.8 20.9
(As on Mar 31, 2015)
Gujarat State Petronet Limited

About the Company
Gujarat State Petronet Ltd (GSPL), a GSPL Group company was incorporated in 1998. The company Top 500 Ranking
is primarily engaged in transmission of natural gas through pipeline on an open access basis from Income 453
supply points to demand centres. The company has also ventured in selling electricity generated
through windmills. GSPL manages and operates the largest gas transmission network in Gujarat Net Profit 150
totalling to 2,192 kms as on Mar 31 2015. The gas grid of the company covers 24 of districts in Networth 137
Gujarat. In addition the company through the special purpose vehicles, namely GSPL India Gasnet
Ltd and GSPL India Transco Ltd undertakes development of three pan-India pipeline projects namely Address
Mallavaram - Bhopal - Bhilwara Vijaipur pipeline, Mehsana - Bhatinda Pipeline and Bhatinda - GSPC Bhavan,
Jammu - Srinagar Pipeline. The company has wind power project of 52.5 MW in Maliya Miyana, Behind Udyog Bhavan,
Rajkot and Gorsar - Adodar, Porbandar in Gujarat. In FY15, GSPL transported 8,395 MMSCM of gas Sector - 11,
and sold 104. 2 mn KWH of electricity generated through windmill. In Feb 2016, Sabarmati gas Ltd Gandhinagar - 382010, Gujarat
became an associate of GSPL. Website: www.gspcgroup.com

11,166.1 4,103.6 34,949.7 9,668.8 86.6 36.8 11.7
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

G e m s a n d J e w e ll e r y
Gems and Jewellery
Comparative Matrix

Company Name
1 Rajesh Exports Limited 379,235.6 2,639.4 28,404.3 0.7 9.3
2 Titan Company Limited 119,737.9 8,230.7 30,886.4 6.9 26.6
3 PC Jeweller Limited 64,077.1 3,782.3 19,903.8 5.9 19.0
4 SRS Limited 38,379.7 388.1 6,272.4 1.0 6.2
5 Shrenuj & Co. Limited 27,197.5 205.5 5,837.9 0.8 3.5
6 Tribhovandas Bhimji Zaveri Limited 19,487.1 173.0 4,628.3 0.9 3.7
7 Thangamayil Jewellery Limited 14,228.3 (222.8) 1,225.4 (1.6) (18.2)
8 Tara Jewels Limited 14,189.4 292.0 5,442.9 2.1 5.4
9 Renaissance Jewellery Limited 10,769.7 344.5 3,565.1 3.2 9.7

Rajesh Exports Limited
About the Company
Rajesh Exports Ltd (REL) was incorporated in 1989, beginning operations as a gold manufacturing Top 500 Ranking
and exports company. It has a presence across the entire gold value chain, right from refining, Income 30
manufacturing, exports, wholesale to retailing. The company is engaged in gold refining and
manufacturing of all kinds of gold jewellery, medallions and other gold products. The companys Net Profit 193
product portfolio comprises of earrings, rings, pendants, chains, necklaces, necklace sets, bangles Networth 157
and bracelets amongst others. RELs manufacturing facilities are located at Kakkanad in Kerala and
Panthnagar in Uttarakhand. REL is among the largest processors of gold in the world, with reports Address
stating that it processes about 35% of the gold produced in the world. SHUBH Jewellers is the 4, Batavia Chambers,
retail brand name of REL, which was launched in 2008 with around 82 retail stores spread across Kumara Krupa Road,
Karnataka. REL has manufacturing and R&D facilities at various places, with the main facility located Kumara Park East,
at Bengaluru and the main refining facility located at Balerna, Switzerland. It acquired the worlds Bengaluru - 560001, Karnataka
largest gold refinery, Valcambi in July 2015. RELs refinery has the capacity to refine more than 2,400 Website: www.rajeshindia.com
tons of precious metals and manufacture 350 tons of gold jewellery and products per annum.

379,235.6 2,639.4 28,404.3 7,369.4 1.9 0.7 9.3
(As on Mar 31, 2015)
Titan Company Limited

About the Company
Titan Company Ltd (Titan), formerly known as Titan Industries Ltd was established in 1984 after JV Top 500 Ranking
between the Tata Group and the Tamil Nadu Industrial Development Corporation. In Mar 1987, it Income 74
launched its brand Titan and in 1996, entered the jewellery segment under the brand Tanishq.
The company operates in four key segments namely; watches & accessories, jewellery, eyewear and Net Profit 91
precision engineering. Few prominent brands include; Tanishq, Zoya, Gold Plus, Sonata, Fastrack, Networth 150
Helios, Xylys and Titan Eye+ among others. Titan operates manufacturing facilities at Hosur,
Bommasandra, Chikkaballapur, Dehradun, Roorkee, Coimbatore and Pantnagar. In FY15, Titans Address
distribution network comprised of 419 World of Titan stores, 161 Fastrack stores, 42 multi-brand 3, SIPCOT Industrial Complex,
Helios stores, over 9,000 multi-brand dealer outlets across 2,500 towns and around 750 service Hosur 635126, TN
centres. During FY15, Titan launched Enigma, a collection of frames designed for Indian women and Website: www.titan.co.in
Adreno, a sports collection for men. During the year, Titan also launched the Titan Ozone lens for
consumers exposed to multiple screens including computers, to prevent eye strain and fatigue.

119,737.9 8,230.7 30,886.4 12,239.4 10.2 6.9 26.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 133
Net Profit 160
PC Jeweller Limited Net Worth 203
Balram Garg, MD, PC Jeweller
Mr. Balram Gargs views

The time has come when we need to redefine the development philosophy. The road to lasting and sound economic development goes through
social development. Few at the helm of affairs, must know and understand it well that people at the bottom ladder need to be developed, which is
an essential prerequisite. Any amount of growth and progress is futile and meaningless,s if the benefits are not passed on to the micro and grass-root
level. We need to view our social progress index. The Indian Companies Act has been amended to incorporate Corporate Social Responsibility (CSR)
and the same is made mandatory subject to CSR Audit. Today the Corporate world must take care of social ends along with economic ones. People
are our greatest assets, which are most productive, effective and efficient. It is only people who earn profits and not the organizations. The corporate
sector must strive for finer values and observe ethical practices in business. We need to invest huge amounts in human skills. The existing skills need
to be sharpened, toned and polished and new skills need to be acquired. The health and happiness of the workforce must be main and prime concern
of any organization as everything flows from there only. Our all actions must lead to human happiness. Everything in the end rests on happiness.
I will quote example of a great country Bhutan which is first in the world and has officially introduced the concept of Gross National Happiness (GNH)
in operation. Like GDP and GNP we need to bring GNH in the formulation of our Public Policy. National progress has to be inclusive of social progress.
There can be no greater concern than the human wellness, wellbeing and welfare (WWW). TAKE CARE OF PEOPLE AND THE PRODUCTIVITY WILL TAKE
CARE OF ITSELF.

PC Jeweller Ltd (PC Jeweller) started in 2005, with its first showroom in Karol Bagh, New Total Income 64,077.1
Delhi with major emphasis on wedding jewellery. It is currently operating 61 stores
across 50 cities and 17 states. The company got listed on the BSE and NSE in 2012, and is Net Profit 3,782.3
one of the few listed jewellery companies in India. Networth 19,903.8
EBIDTA 7,533.3
Business Model
Ratios (%)
PC Jeweller is engaged in the business of manufacture, retail and export of jewellery. The
EBIDTA Margin 11.8
company offers a variety of products including 100% hallmarked gold jewellery, certified
diamond jewellery and other jewellery, including silver articles, with a focus on diamond NPM 5.9
jewellery and bridal jewellery. It stocks a substantial quantum of gold and diamond RONW 19.0
jewellery, ensuring wider availability and catering to a larger budget range. In FY15, gold (As on Mar 31, 2015)
jewellery accounted for nearly 69% of its revenues.
Management Details
From sourcing of raw materials to the sale of the finished product, all its processes are Chairman
integrated and aligned. The company also ensures that stringent quality measures are Padam Chand Gupta
taken to ensure the purity, value and finish of the product. It manufactures nearly 65% Managing Director
of its jewellery in-house, while the rest is met through outsourcing. PC Jeweller operates Balram Garg
four manufacturing units with a covered area of more than 80,000 sq ft incorporating Executive Director & Chief Operating Officer
more than 1,000 skilled workers. Its manufacturing plants are located across Noida, UP Ramesh Kumar Sharma
and Dehradun, Uttarakhand. The company has an in- house team of over 75 designers Directors
who create new patterns and designs on a regular basis based on domestic and Kusum Jain
international design trends. Dr. Manohar Lal Singla
Krishan Kumar Khurana
The company designs and manufactures ornaments of gold, diamonds and other precious Miyar Ramanath Nayak
Suresh Kumar Jain
gemstones. It has positioned itself as a wedding jeweller with large format stores located
on high streets. Its stores aim to provide their customers with largest range and variety
at all price points in a luxurious ambience.
Address & Website
Apart from its domestic operations, PC Jeweller is also engaged in export of handmade
C 54, Preet Vihar,
designer gold on a B2B basis. The company has been participating in global jewellery
Vikas Marg,
exhibitions to tap new overseas markets and maintain export share to ensure availability Delhi 110092
of gold for domestic operations. During FY15, domestic sale contributed to 71.5% of the
Website
companys revenue, while exports accounted for the rest. www.pcjeweller.com

Retail Presence
PC Jeweller is headquartered in Delhi and operates a pan-India network of 61 showrooms that cover an area of 3,53,413 sq. ft. These
retail showrooms are located across 50 cities in 17 states as on Apr 30, 2016. Some of its locations include; Ahmedabad, Bhagalpur,
Delhi, Ajmer, Amritsar, Bareilly, Beawar, Bengaluru, Bhopal, Chandigarh, Jodhpur, Kolkata, Lucknow, Mathura, Noida, Patna, Panchkula,
Siliguri, Rohtak, Vadodara, Udaipur and Varanasi among others.
Further enhancing its retail presence, the company launched an e-commerce portal www.wearyourshine.com in Oct 2014. The
website leverages its in-store PC Jeweller branded product range and ensures availability through anytime anywhere pan-India
purchase. The website also offers convenience of multiple payment gateways including the popular cash-on-delivery and assures
hallmarking and attractive and discreet packaging. It primarily caters to the net-savvy and working women, typically looking at light
everyday-wear jewellery.
The company Opened its first franchisee store in Oct 2015 at Gwalior and is planning to open about 5 more during the FY 2016-17.
Innovative Product Launches

Smart Jewellery WYSH: PC Jeweller displayed its smart jewellery manufactured in technical tie-up with LA based leading tech firm
Martian Inc. at CES 2016 held at Las Vegas (USA) in Jan 2016. WYSH is the first of its kind smart jewellery, that comprises of an
electronic module fitted within the jewellery. This jewellery can get synced with mobile device and has various features like Call Alert,
Pedometer and SOS among others. The company is working towards commercial launch of the same in Q3 FY 2016-17.
Flexia: In Nov 2014, the company launched its unique detachable and inter-changeable jewellery that can be adorned as per preference
or occasion. This product has been a huge success and has encouraged the company to increase the products and offering under this
concept.

SRS Limited
About the Company
SRS Ltd (SRS) was incorporated in 2000 in the name of SRS Commercial Co Ltd and in 2009 it Top 500 Ranking
acquired its present name. SRS operates in four business segments namely; gold & jewellery, Income 200
cinema, retail, hotel and food & beverages. SRS operates premium multiplexes under brand SRS
Cinemas having 21 properties having 59 screens and 15,218 seats. Under retail, SRS operates 23 SRS Net Profit 389
Value Bazaar for grocery and four SRS Fashion Wear stores for apparels. Under food & beverages, Networth 366
SRS operates SRS 7dayz brand of food courts, Punjabi Haandi which offers ethnic North Indian and
Chinese cuisine; Flamez, a trendy resto bar; a chain of caf under the brand Caf Desi and SRS Address
Banquets, a large facility with choice of indoor and outdoor fully integrated banqueting services. SRS Tower, 305 & 307,
Under gold & jewellery segment, SRS operates SRS Jewells retail stores, four wholesale offices and Near Metro Station,
one manufacturing unit. In FY15, SRS incorporated a wholly owned subsidiary in the name of SRS Mewla Saharajpur, GT Road,
Worldwide (FZE) at Sharjah for trading in gold, diamond, precious metals & related jewellery and Faridabad (NCR Delhi) 121003, Delhi
general trading. Website: www.srsparivar.com

38,379.7 388.1 6,272.4 1,368.4 3.6 1.0 6.2
(As on Mar 31, 2015)
Shrenuj & Co. Limited

About the Company
Shrenuj & Co. Ltd (Shrenuj) was incorporated in 1982. In 1986, the company acquired its present Top 500 Ranking
name and in 1992, it set up a unit for jewellery manufacturing in Mumbai, Maharashtra. In 2003, the Income 252
company acquired Daily Jewellery and entered the area of jewellery retailing. The retailing activities
are served by two distinct chains Joliesse and Diti. In 2007, the company acquired Simon Golub Net Profit 429
and Sons, extending its distribution capacity in the US. Shrenuj operates in two main segments Networth 373
namely diamonds and jewellery. Its diamond business comprises of trading, cutting and polishing of
diamonds. Under the jewellery segment, the company offers diamond studded gold and platinum Address
jewellery. Some of Shrenujs prominent brands include Amante88, Fiana, Bhavya, Sveni, Valina, 405, Dharam Palace,
Arisia and Lavanya among others. The company has six manufacturing factories in India, contractor 100-103 N S Patkar Marg,
facilitites and a joint venture in China and France. These facilities have a combined capacity to Mumbai - 400007,Maharashtra
manufacture over one mn pieces every year. Website: www.shrenuj.com

27,197.5 205.5 5,837.9 1,597.0 5.9 0.8 3.5
(As on Mar 31, 2015)
Tribhovandas Bhimji Zaveri Limited

About the Company
Tribhovandas Bhimji Zaveri Ltd (TBZ) opened its flagship showroom in Zaveri Bazar, Mumbai in Top 500 Ranking
1864. The company is engaged in design, manufacture and sale of studded gold, diamond and Income 324
silver jewellery. TBZ also offers a wide range of jewellery collection in solitaire and platinum. The
collection of jewellery offered by TBZ includes necklaces, earrings, rings, chains, pendants, bracelets Net Profit 436
and bangles amongst others. Various other collections offered by TBZ include wedding, mens, Networth 405
temple, dohra, surprises, showstopper, azva, watches and festive amongst others. TBZ stores offer
over 20,000 in-house designs. The company operates manufacturing facility at Kandivali, Mumbai Address
which undertake manufacturing processes of studded and design jewellery. The company operates 241/43,
28 TBZ The Original stores in 22 cities across 10 states including Maharashtra, Gujarat, MP, Zaveri Bazar,
Kerala, Chhattisgarh, Telangana, Rajasthan, AP, WB and Jharkhand. In Oct 2015, TBZ ventured into Mumbai - 400002, Maharashtra
e-marketplace on Snapdeal to sell its porducts online. In Feb 2016, TRZ tied-up with Amazon and Website: www.tbztheoriginal.com
Flipkart to offer its diamond jewellery and gold coins on Amazon and Flipkart online market place.

19,487.1 173.0 4,628.3 939.8 4.8 0.9 3.7
(As on Mar 31, 2015)

Thangamayil Jewellery Limited
About the Company
Thangamayil Jewellery Ltd (TMJL) was incorporated in 2000. TMJL was formally known as Balu Top 500 Ranking
Jewellery. The company primarily deals with four product lines: gold, silver, diamonds and platinum; Income 392
the sale of gold being a core business. TMJL as a part of the jewellery retail business, has a chain
of retail jewellery stores across several districts in TN. TMJL purchases majority of ornaments Net Profit 476
are from various dealers in the states of AP, Gujarat, Kerala, WB, to be sold through its chain of Networth 499
stores. The company operates 25 branches on lease and five owned, thereby taking the total
number of showrooms in the chain to 30. TMJL manufactures variety of ornaments like gold chains, Address
necklaces, bangles, ear studs, nose rings, waist belts, kasu malai, finger rings, bracelets and other 124, Nethaji Road,
items fitting to the customers needs. It markets its products under the brand name Thangamayil. Madurai - 625001, TN
The ornaments are also made to order as per customers specific requirements and the same are Website: www.thangamayil.com
manufactured at the companys unit near Madurai. In Feb 2016, the company opened its 31st
branch in at Virudhanagar.

14,228.3 (222.8) 1,225.4 20.7 0.1 (1.6) (18.2)
(As on Mar 31, 2015)
Tara Jewels Limited

About the Company
Tara Jewels Ltd (Tara Jewels) was incorporated in 2001 and in 2006 the company acquired goforward Top 500 Ranking
business of M Fabrikant in the US. In 2012, the company got listed on BSE and NSE. In 2013, Tara Income 393
Jewels launched Michael Beaudry branded jewelry and Monique Lhuillier branded jewelry. The
company is engaged in designing, manufacturing and retailing of studded gold, platinum, pristinium Net Profit 412
and silver jewellery. Tara Jewels operates three manufacturing facilities and has presence through Networth 389
19 full service stores and 11outlets in Shoppers Stop across 27 cities in Northern, Central, and
Western India. It exports to over 20 countries across US, China, UAE, Europe, Australia, South Africa Address
and Austria amongst others. Tara Jewels also exports diamond studded jewellery to global retailers Plot No 122, 15th Road,
like Walmart, JC Penney, Signet and Sterling amongst others. In FY15, the company launched Near IDBI Bank, MIDC,
Monique Lhuillier and Zac Posen collection in the US along with Anisa, a range of rings and earrings. Andheri (E),
As on Mar 31 2015, Tara Jewels had a confirmed order book of ` 9,690 mn. Mumbai - 400093, Maharashtra
Website: www.tarajewels.in

14,189.4 292.0 5,442.9 1,274.4 9.0 2.1 5.4
(As on Mar 31, 2015)
Renaissance Jewellery Limited

About the Company
Renaissance Jewellery Ltd (RJL) was originally incorporated in 1989 as Mayur Gems and Jewellery Top 500 Ranking
Export Pvt Ltd, and eventually acquired its present name in 2005 when it became a public limited Income 470
company. It is engaged in the business of designing, manufacturing and sales of various types of
fashion, bridal and gemstone jewellery, and incudes gold, silver, platinum jewellery, studded with Net Profit 398
diamonds and other precious and semi-precious stones. Its key products include rings, earrings, Networth 439
pendants, bracelets, necklaces and bangles. The companys manufacturing facilities are located
at SEEPZ (Mumbai), Bhavnagar (Gujarat) and Bangladesh, with a total area of 190,000 sq.ft and Address
manpower count of over 4,300. With this set-up, the company is able to produce close to 2.5 mn Plot No. 36A & 37,
pieces per annum and to deliver over 750 quality models a month with the help of a team of over Seepz - SEZ, Andheri East,
50 qualified and experienced designers and over 60 skilled model makers. The companys export Mumbai - 400096, Maharashtra
markets include USA, UK, Hong Kong, UAE, Australia and Canada. Its subsidiaries are Renaissance Website: www.renjewellery.com
Jewelry NY Inc., Verigold Jewellery UK Ltd, and a furniture retailing business named Housefull
International Ltd.

10,769.7 344.5 3,565.1 574.1 5.3 3.2 9.7
(As on Mar 31, 2015)

Glass and Ceramics
Glass and Ceramics
Comparative Matrix

Company Name
1 Kajaria Ceramics Limited 22,416.3 1,683.6 7,203.5 7.5 23.4
2 Asahi India Glass Limited 20,748.4 545.0 3,069.2 2.6 17.8
3 HSIL Limited 18,606.4 1,041.5 14,077.1 5.6 7.4
4 Somany Ceramics Limited 15,488.8 443.8 2,523.1 2.9 17.6

Kajaria Ceramics Limited
About the Company
Kajaria Ceramics Ltd (Kajaria) was incorporated in 1985. The company is mainly engaged in Top 500 Ranking
manufacturing of tiles and its product portfolio include ceramic wall and floor tiles; polished Income 292
and glazed vitrified tiles; sanitaryware and faucets; and tile adhesives and grout. The company
operates nine manufacturing facilities located in UP, Rajasthan, Gujarat and AP with a combined Net Profit 232
annual installed capacity of manufacturing 68.6 mn sq mtrs of tiles. Kajaria through its subsidiary Networth 354
Kajaria Bathware Pvt Ltd also operates sanitaryware facility at Morbi with an installed capacity of
0.7 MTPA. Kajaria has a wide distribution network comprising of over 950 dealers. The company Address
market its products through Kajaria World, Kajaria Galaxy and Kajaria Studio chains primarily in SF-11, Second Floor, JMD Regent Plaza,
metros and urban locations. Kajaria exports its products to more than 20 countries across the globe. Mehrauli Gurgaon Road,
In FY15, Taurus Tiles Pvt Ltd, Kajaria Ceramics Kazakhstan, LLP and Kajaria Bathware Pvt Ltd became Village Sikanderpur, Ghosi,
subsidiary of the company. In FY15, the company launched 12 Kajaria Galaxy showrooms and 25 Gurgaon - 122001, Haryana
Kajaria Studio showrooms. Website: www.kajariaceramics.com

22,416.3 1,683.6 7,203.5 2,890.6 12.9 7.5 23.4
(As on Mar 31, 2015)
Asahi India Glass Limited

About the Company
Asahi India Glass Ltd (AIS), an integrated glass manufacturing company was incorporated in 1984. Top 500 Ranking
The companys business span the entire spectrum of the automotive and architectural glass value Income 308
chains providing end to end solutions right from manufacturing of glass, processing, fabrication
and installation services. AIS broadly operate under four verticals viz. automotive, architecture, Net Profit 362
solar and consumer glass. It offers products & services for institutional buyers and retail customers Networth 454
including defogger glass, UV cut glass, clear glass, tinted glass, frosted glass, laminated glass,
tempered glass and laminated windshields amongst others. Various brands under which AIS market Address
its products include AIS Krystal, AIS Decor, AIS Tinted, AIS Opal, AIS Acousticglas, AIS Ecosense, AIS Unit No. 203 - 208,
Supersilver and AIS SunShield. The company operates through its manufacturing facilities located at Tribhuwan Complex,
Bawal, Roorkee, Faridabd, Halol, Pune, Taloja, Chennai and Bengaluru. Major clients of AIs include Ishwar Nagar, Mathura Road,
Maruti Suzuki, Hyundai Motors, Tata Motors, Fiat India, Skoda Auto, and Toyota Kirloskar amongst New Delhi - 110065, Delhi
others. In FY15, AIS launched several new products such as Opal Trendz, Opal+, new shades of Opal Website: www.aisglass.com
Green and Swytchglass.

20,748.4 545.0 3,069.2 3,151.0 15.2 2.6 17.8
(As on Mar 31, 2015)
HSIL Limited
About the Company
HSIL Ltd (HSIL) was incorporated in 1960 as Hindustan Twyfords Ltd by the Somany family in Top 500 Ranking
collaboration with Twyfords Ltd, UK, to introduce vitreous china ceramic sanitaryware in India. Income 333
In 2009, the company acquired its present name. HSIL is one of the leading manufacturers of
sanitaryware in India. The company also operates in other segments such as faucets/showers, Net Profit 294
kitchen appliances, vents, wellness and allied products. The product portfolio of HSIL includes Networth 241
water closets, wash basins, sinks, urinals, showers, chimneys, dishwashers, designer extractor
fans, shower panels, seat cover, PVC cisterns and bath tubs amongst others. Some of the brands Address
under which ir market its products include Queo, Vents, Benelave, Raasi, Hindware Art, Amoro and 2, Red Cross Place,
Hindware Italian Collection to name a few. In FY15, the company signed distribution agreement Kolkata 700001, WB
with Atlantic International of France for distribution of domestic water heaters manufactured by Website: www.hindwarehomes.com
Atlantic International. In Dec 2015, HSIL launched a new product named Air Purifiers under the
brand name Moonbow and in Mar 2016 it launched Air Coolers under the brand name Hindware.

18,606.4 1,041.5 14,077.1 3,439.8 18.5 5.6 7.4
(As on Mar 31, 2015)

Somany Ceramics Limited
About the Company
Somany Ceramics Ltd (Somany) was established in 1968 as Somay Pilkington and acquired its Top 500 Ranking
present name in 2007. Somanys product basket comprises of ceramic wall and floor tiles, glazed Income 373
and polished vitrified tiles, sanitary ware and bath ware fittings. The company operates two plants
located at Kassar in Haryana and Kadi in Gujarat with an annual installed capacity of manufacturing Net Profit 376
13.13 msm and 8.42 msm respectively. The company has a wide distribution network of franchisee Networth 474
showrooms/ display centers under three categories namely Grande, Exclusive and Studio. Somany
also has presence in countries in Africa, Middle East, UK and Russia. In FY15, Somany introduced Address
large tiles (800 x 1200) mm PVT with ultra-charge into its polished vitrified tiles segment. In FY15, 82/19, Bhakerwara Road,
Somany sold 42.35 msm of tiles and its ceramic tiles segment contributed 46% to its overall sales. Mundka,
During the year, the company acquired equity stake in Somany Sanitary Ware Pvt Ltd, thus expanding New Delhi - 110041, Delhi
its capacity by 3.03 lacs pieces of sanitary ware per annum. During the year, Somany opened 24 new Website: www.somanyceramics.com
showrooms / display centers across the country.

15,488.8 443.8 2,523.1 1,030.3 6.7 2.9 17.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

G r a ph i t e a n d El e c t r o d e s
Graphite and Electrodes
Comparative Matrix

Company Name
1 Graphite India Limited 15,279.6 877.9 17,519.2 5.7 5.0
2 HEG Limited 12,520.7 611.8 9,405.9 4.9 6.5

Graphite India Limited
About the Company
Graphite India Ltd (Graphite India), a subsidiary of Emerald Company Ltd started its operations in Top 500 Ranking
1967 in collaboration with Great Lakes Carbon Corporation of USA. Graphite India operates in three Income 376
segments, namely graphite and carbon, steel and others. Under graphite and carbon segment, the
company produces graphite electrodes and other miscellaneous carbon and graphite products like Net Profit 312
calcined petroleum coke & paste and impervious graphite equipments. The companys steel segment Networth 217
is engaged in the production of high speed steel and alloy steel and others segment is engaged in
manufacturing of glass reinforced pipes and tanks. The company also undertakes generation of Address
power for captive use as well as for sale to Karnataka Power Grid under PPP. The company operates 31, Chowringhee Road,
three graphite manufacturing facilities located in Maharashtra, WB and Karnataka; one coke plant in Kolkata-700016, WB
Bihar; one impervious graphite equipment plant and one glass reinforced pipes in Maharashtra and Website: www.graphiteindia.com
one steel plant in Odisha. During FY15, the company produced 66,525 MT of graphite electrodes
and anodes, 21,668 MT of calcined petroleum coke, 1,554 MT of steel and 10,350 MT of glass
reinforced pipes.

15,279.6 877.9 17,519.2 1,797.8 11.8 5.7 5.0
(As on Mar 31, 2015)
HEG Limited
About the Company
HEG Ltd (HEG), a flagship company of LNJ Bhilwara Group, was incorporated in 1977 in technical and Top 500 Ranking
financial collaboration with Societe Des Electrodes Et Refractaires Savoie. HEG primarily operates in Income 429
three business segments namely graphite electrodes, power and carbon specialities. HEG, under its
graphite segment, manufactures ultra high power and high power grade graphite electrodes. Under Net Profit 356
its carbon speciality business segment, HEG manufactures activated carbon fabric, carbon blocks Networth 306
and graphite specialities which are mainly used in pollution control equipments, heat exchangers,
air-conditioner filters among others. HEG operates through its manufacturing plant located at Address
Manideep in MP which has an annual installed capacity of manufacturing 80,000 MT of graphite Mandideep (Near Bhopal),
electrodes. HEG operates two thermal power plants and hydro-electric power facility with a total Dist Raisen - 462046, MP
had captive power generation capacity of around 76.5 MW. HEG exports its products to over 30 Website: www.hegltd.com
countries across the globe. Its major clients include SAIL Tata Steel, ArcelorMittal, Hyundai Steel,
Jindal Group and Emirate Steel Industries among the few. In FY15, the export accounted for over
80% of HEGs revenue.

12,520.7 611.8 9,405.9 1,854.4 14.8 4.9 6.5
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Hotels
Hotels
Comparative Matrix

Company Name
1 The Indian Hotels Company Limited 21,342.2 1,466.8 25,870.9 6.9 5.7
2 EIH Limited 13,663.1 966.3 24,289.1 7.1 4.0

The Indian Hotels Company Limited
About the Company
The Indian Hotels Company Ltd (IHCL) was incorporated in 1902. The company is promoted by Tata Top 500 Ranking
Sons Ltd and is primarily engaged in the business of owning, operating and managing hotels, palaces Income 303
and resorts. IHCL and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and
are recognized as one of Asias largest hotel company. IHCL business operation can be categorized Net Profit 249
by: luxury, upper upscale and upscale segments. The company has its hotels and resorts under the Networth 167
brands Taj, Vivanta by Taj Hotels & Resorts, The Gateway Hotels & Resorts and Ginger Hotels. Taj
Hotels Resorts and Palaces comprises 27 hotels in Taj brand, 39 Vivanta and 32 Gateway hotels Address
in 62 locations across India in additional to 15 international hotels in the Maldives, Malaysia, UK, Mandlik House,
USA, Bhutan, Sri Lanka, Africa and the Middle East. The company also through its subsidiary Roots Mandlik Road,
Corporation Ltd, has a portfolio of 33 Ginger hotels. In FY15, IHCL launched The Gateway Hotel in Mumbai - 400001, Maharashtra
Raipur, Gondia and Gurgaon; and Ginger Hotel in Vishakhapatnam and Jammu. Website: www.tajhotels.com

21,342.2 1,466.8 25,870.9 2,385.0 11.2 6.9 5.7
(As on Mar 31, 2015)
EIH Limited
About the Company
EIH Ltd (EIH) was incorporated in 1949 as the lease and operator of The Oberoi Palace Hotel in Top 500 Ranking
Srinagar, Kashmir. In 1968, The Associated Hotels of India Ltd and Hotels (1938) Pvt Ltd got merged Income 412
into the Company pursuant to which EIH acquired five hotels. EIH belongs to the Oberoi Group
and operates hotels and cruisers in five countries under the luxury Oberoi and five-star Trident Net Profit 303
brands. The company is in the business of ownership, management and operation of five stars Networth 175
deluxe and five star hotels in metropolitan and major tourist destinations throughout India and in
select tourist locations overseas. In addition to the primary hotel business, the company has also Address
diversified in other businesses, like flight and airport services, car rentals, air charter services, and 4, Mango Lane,
a printing press. Hotels owned and managed by EIH include The Oberoi, Mumbai; The Oberoi, New Kolkata - 700001, WB
Delhi; The Oberoi, Bangalore; The Oberoi Grand, Kolkata; The Oberoi Udaivilas, Udaipur; The Oberoi Website: www.eihltd.com
Vanyavilas, Ranthambore; Trident, Nariman Point, Mumbai and Trident, Bandra Kurla, Mumbai.

13,663.1 966.3 24,289.1 3,059.4 22.4 7.1 4.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

I r o n a n d St e e l
Iron and Steel
Comparative Matrix

Company Name
1 Steel Authority of India Limited* 467,315.6 20,697.5 419,945.7 4.4 4.9
2 JSW Steel Limited 465,540.9 21,664.8 254,567.6 4.7 8.5
3 Tata Steel Limited 423,677.8 45,482.7 662,888.7 10.7 6.9
4 Uttam Galva Steels Limited@ 69,874.8 307.4 13,156.4 0.4 2.3
5 Usha Martin Limited* 37,847.3 (1,922.5) 12,141.6 (5.1) (15.8)
6 Jayaswal Neco Industries Limited* 30,416.4 935.8 20,031.1 3.1 4.7
7 Godawari Power & Ispat Limited 19,515.4 621.1 7,725.6 3.2 8.0
8 Sunflag Iron and Steel Company Limited 17,871.6 (1.6) 5,835.3 (0.0) (0.0)
9 Steel Exchange India Limited 15,776.3 284.6 2,728.0 1.8 10.4
10 Sarda Energy & Minerals Limited 14,184.6 1,821.7 9,904.6 12.8 18.4
11 Kirloskar Ferrous Industries Limited 13,682.0 492.8 4,510.2 3.6 10.9
12 Indian Metals and Ferro Alloys Limited* 13,665.7 109.8 8,586.4 0.8 1.3
13 Kalyani Steels Limited 12,293.3 833.1 4,727.9 6.8 17.6
14 Nava Bharat Ventures Limited 12,039.5 1,428.9 25,302.3 11.9 5.6
15 Tata Metaliks Limited 10,999.9 854.3 1,873.8 7.8 45.6

Steel Authority of India Limited
About the Company
Steel Authority of India Ltd (SAIL) was established in 1973 by the Ministry of Steel and Mines. SAIL Top 500 Ranking
has been conferred with the Maharatna status by GoI. SAIL is engaged in manufacturing of steel Income 21
and steel products including plates, pipes, rails, hot rolled sheets, galvanised sheets, bars, rods,
electrical steel sheets, electrolytic tin plates, structurals, skelp, billets, blooms and railway wheels Net Profit 43
& axles amongst others. The company owns and operates five integrated steel plants at Bhilai, Networth 14
Durgapur, Bokaro, Rourkela and Burnpur and three special steel plants at Salem, Durgapur and
Bhadravati. Presently, the company has an aggregate installed capacity of producing 23.5 MMTPA Address
of hot metal, 21.4 MMTPA of crude steel and 20.2 MMTPA of saleable steel. During FY15, the steel Ispat Bhawan,
plants of SAIL produced 15.4 MMT of hot metal, 13.9 MMT of crude steel, 5.4 MMT of special steel Lodi Road,
and 12.8 MMT of saleable steel. In May 2015, SAIL signed MoU with ArcelorMittal to set up an New Delhi - 110003, Delhi
automotive steel manufacturing facility under a JV arrangement in India. Website: www.sail.co.in

467,315.6 20,697.5 419,945.7 55,793.5 11.9 4.4 4.9
(As on Mar 31, 2015)
JSW Steel Limited

About the Company
JSW Steel Ltd (JSW Steel), a flagship company of the JSW group, was incorporated in the year 1994. Top 500 Ranking
The company is engaged in the business of production and distribution of iron and steel products. Income 22
The company offers a range of products such as galvanised & galvalume products; TMT bars; wire
rods and special steel bars; hot rolled coils, sheets and plates; cold rolled coils and sheets; round Net Profit 42
and blooms; angles and pre-painted galvanised & galvalume products amongst others. In India, Networth 32
the company operates through six plants located at Vijayanagar in Karnataka; Salem in TN and
Tarapur, Vasind, Kalmeshwar and Dolvi areas of Maharashtra with a cumulative installed capacity Address
of 14.3 MTPA. It has overseas presence across US, South America and Africa. The company also has JSW Centre,
a robust pan-India distribution network and a reach of over 100 countries across 5 continents. In BKC, Bandra (E),
FY15, JSW Steel produced 12.63 MMT of crude steel. During the year, the company acquired the Mumbai - 400051, Maharashtra
entire shareholding of Welspun Enterprises Ltd held in Welspun Maxsteel Ltd. Website: www.jsw.in

465,540.9 21,664.8 254,567.6 87,786.8 18.9 4.7 8.5
(As on Mar 31, 2015)
Tata Steel Limited

About the Company
Tata Steel Ltd (Tata Steel), a flagship company of Tata Group was incorporated in the year 1907. Tata Top 500 Ranking
Steel produces a wide range of steel products which caters to sectors like construction, automotive, Income 25
capital goods, aerospace, rail, energy & power, engineering, infrastructure, and lifting & excavation
amongst others. Tata Steel operates its business through four divisions namely steel, ferro alloys Net Profit 23
& minerals, tubes and bearings. The company manufactures various flat products, long products, Networth 7
bearings and construction products like hot rolled steel, cold rolled steel, tubes, packaging steels,
plates, wires, sections, wire roads, ball bearings and structural steel amongst others. Some of the Address
brands under which Tata Steel markets its product include Tata Shaktee, Tata Tiscon, Galvano, Tata Bombay House,
Pipes, Tata Steelium, Tata Astrum and Tata Structura amongst others. The company has operations 24 Homi Mody Street,
in 26 counties and commercial presence in over 50 countries. In FY15 Tata Steel India produced Mumbai - 400001, Maharashtra
9.07 MMT of steel and sold 8.8.75 MMT of steel. In Apr 2016, Tata Steels UK business signed an Website: www.tatasteel.com
agreement to sell its long products Europe business to Greybull Capital.

423,677.8 45,482.7 662,888.7 123,019.7 29.0 10.7 6.9
(As on Mar 31, 2015)

Uttam Galva Steels Limited
About the Company
Uttam Galva Steels Ltd (Uttam Galva) was incorporated in 1985 and Arcelor Mittal joined as a Top 500 Ranking
copromoter in FY10. Uttam Galva is engaged in manufacturing intermediate steel products i.e. Cold Income 125
Rolled (CR) steel and galvanised products comprising of galvanised plain (GP), galvanised corrugated
(GC) and colour coated coils and sheets. The company has three manufacturing facilities, with two Net Profit 403
located at Khopoli and another at Taloja in Raigad district in Maharashtra. The plant has facility of Networth 258
cold rolling HR coils, with a capacity of 1 MTPA and Galvanizing of 0.75 MTPA. Uttam Galva is an ISO
9001:2008 certified company. More than 50% of the companys products are currently exported to Address
148 countries worldwide and it has a customer base in advanced markets such as Australia, France, Uttam House,
Germany, Greece, UK and the US. During the year under review, the company launched a range of 69, P. Dmello Road,
products under the brand name UTTAM TARANG, targeting the rural markets. As on Mar 31 2015, Mumbai - 400009, Maharashtra
Uttam Galva had eight foreign subsidiaries including two - Uttam Exports BVI Ltd. & Uttam Galva Website: www.uttamgalva.com
North America, Inc incorporated in FY15.

69,874.8 307.4 13,156.4 4,928.7 7.1 0.4 2.3
(As on Mar 31, 2015)
Usha Martin Limited

About the Company
Usha Martin Ltd (Usha Martin) was incorporated in 1986. The company is engaged in the Top 500 Ranking
manufacturing of speciality steel and value added steel products. It operates under two business Income 203
segments namely steel and wire & wire ropes. Under steel segment, it manufactures steel wire rods,
rolled products, billets, pig iron and allied products. The wire and wire ropes segment manufactures Net Profit 491
steel wires, strands, wire ropes, cord, bright bar and related accessories. Apart from these, it also Networth 276
manufactures jelly filled telecommunication cables, wire drawing and allied machineries. The
companys manufacturing facilities are spread across Jamshedpur, Ranchi, Punjab, TN and Silvassa. Address
In FY15, Usha Martin produced 554,859 MT of rolled products, 710,967 MT of billets, 669,136 MT 2A, Shakespeare Sarani,
of pellet, 94,802 MT of wire ropes, 91,234 MT of wires, 14,766 MT of bright bars and 58,400 MT of Kolkata - 700071, WB
strands. In FY15, the company received allocation of Brinda and Sasai Coal Block. In Nov 2015, Usha Website: www.ushamartin.com
Martin agreed to divest its stake in its JV Dove Airlines Pvt Ltd for a consideration of ` 81.05 bn.

37,847.3 (1,922.5) 12,141.6 5,312.6 14.0 (5.1) (15.8)
(As on Mar 31, 2015)
Jayaswal Neco Industries Limited

About the Company
Jayaswal Neco Industries Ltd (JNIL), the flagship company of the Neco Group of Industries commenced Top 500 Ranking
its business in 1976 as an iron foundry unit in Nagpur. The company is primarily engaged into Income 237
manufacturing, marketing and supplying steel products and iron & steel castings. Under the steel
segment, it manufactures hot pig iron, billets, sponge iron, rolled bars in rounds and squares, wire Net Profit 306
rod in coils and high strength leaf springs in flats catering to automobile, engineering, and other Networth 201
manufacturing sectors. The iron & steel castings segment comprises of manufacture and sale of
engineering and automotive castings. Under iron & steel castings division, it manufactures castings Address
products like gears, pumps, floor plates, brake drums, mother mould castings, cylinder heads, F-8,
sandcast pipes & fittings and ductile iron manhole cover amongst others catering to automotive, MIDC Industrial Area,
engineering and constructions sectors. The company operates manufacturing facilities across the Hingna Road,
states of Maharashtra and Chhattisgarh. JNILs projects under implementation includes 0.45 MTPA Nagpur - 440016, Maharashtra
steel melt shop, 0.35 MTPA rolling mill and 0.30 MTPA sponge iron plant in Chhattisgarh. Website: www.necoindia.com

30,416.4 935.8 20,031.1 2,633.6 8.7 3.1 4.7
(As on Mar 31, 2015)

Godawari Power & Ispat Limited
About the Company
Godawari Power & Ispat Ltd (GPIL), a part of HIRA Group of Industries, was incorporated in 1999. The Top 500 Ranking
company manufactures iron ore pellets, sponge iron, steel billets, silico manganese and HB wire. It Income 322
is also engaged in power generation. GPIL is a fully integrated steel manufacturer company with the
rights to iron ore and coal mining for captive consumption, to the entire value chain (raw material to Net Profit 354
final product) of steel wires. The company has also become one of the pioneers in the field of iron Networth 339
ore pelletization, having installed a pellet plant of 1.80 MTPA capacities and successfully operating
it at 100% rated capacity. The company manages seven subsidiaries and two joint ventures. In FY15, Address
the company started mine development cum mining activities at Boria Tibu Iron Ore mines with 428/2,
capacity of 700000 TPA in Chhattisgarh. Phase I, Industrial Area
Siltara,
Raipur - 493111, Chhattisgarh
Website: www.gpilindia.com

19,515.4 621.1 7,725.6 2,382.1 12.2 3.2 8.0
(As on Mar 31, 2015)
Sunflag Iron and Steel Company Limited

About the Company
Sunflag Iron and Steel Company Ltd (Sunflag Iron), a flagship company of Sunflag group was Top 500 Ranking
incorporated in 1984. It is primarily engaged in manufacturing and marketing of special steel rolled Income 341
products. The manufacturing facilities of Sunflag Iron include sinter plant, mini blast furnace, direct
reduction plant, electric arc furnace, ladle heating furnace, vacuum degassing unit, blooming mill, Net Profit 462
alloy steel mill and garret coiler amongst others. The companys product portfolio comprises of Networth 374
flat bars, round bars, bright bars, hexagonal straight bars, spring steel, stainless steel, valve steel,
tool steel and micro-alloyed steel amongst. Sunflag Iron caters to the demand of industries like Address
automobile, railways, power, ordnance factories, and engineering amongst others. Sunflag Iron 33, Mount Road,
exports its products across South East, Middle East, European Union and United States. In FY15, Sadar,
Sunflag Iron produced 234,841 MT of pig iron, 312,839 MT of rolled products and 130,762 MT Nagpur - 440001, Maharashtra
of direct reduced iron. During the year, the company generated 160.9 mn kWh of power and its Website: www.sunflagsteel.com
Belagaon coal block generated 196,380 MT of coal.

17,871.6 (1.6) 5,835.3 1,596.4 8.9 (0.0) (0.0)
(As on Mar 31, 2015)
Steel Exchange India Limited

About the Company
Steel Exchange India Ltd (SEIL) was incorporated in 1999. SEIL was formed with the merger of Top 500 Ranking
Steel Exchange India Ltd and Simhadri Steels Private Ltd with Pyxis Technology Solutions Ltd. The Income 367
company has a diversified business and can be classified into four divisions as steel manufacturer,
trading of related products, steel ingot division and wire product division. Under the steel division Net Profit 414
the company manufacture through its integrated steel plant located at Srirampram, Vizianagaram Networth 467
District. SEIL produces TMT bars and sells under the established brand name Simhadri TMT Bars.
Under the steel ingot division, manufactures ingots using sponge iron and scrap / pig iron. The Address
unit also has a power generation unit using natural gas for captive consumption. The wire product Flat No: 303,
division produces high carbon steel wire products. The trading division deals with a wide range of My Home Laxmi Nivas Apartments,
products from finished steel products to related items semis, coal, scrap and sponge iron among Greenlands, Ameerpet,
others. In FY15, the company merged Simhadri Power Ltd with itself. Hyderabad - 500016, Telangana
Website: www.seil.co.in

15,776.3 284.6 2,728.0 1,874.1 11.9 1.8 10.4
(As on Mar 31, 2015)

Sarda Energy & Minerals Limited
About the Company
Sarda Energy & Minerals Ltd (SEML), a part of Sarda Group was incorporated in 1973. In 1987 it Top 500 Ranking
commissioned the first automated oxygen lancing plant in MP to feed oxygen in the arc furnace. Income 394
In 2007, the company acquired its present name pursuant to merger with Chhattisgarh Electricity
Company Ltd with itself. The company is primarily engaged in the manufacture of steel and ferro Net Profit 228
alloys. SEMLs products portfolio includes pellet, sponge iron, billet, wire rod, ferro alloys, TMT bars, Networth 296
eco-bricks, HB wire and ingots amongst others. The company is also engaged in power generation
through its power plants at Siltara and Raipur. The company exports to over 60 countries such as Address
Vietnam, UAE, Singapore, Turkey, South Korea, Taiwan, Mexico and Japan. In FY5, SEML produced 73-A,
0.55 MMT of pellets, 0.24 MMT of sponge iron, 118,409 MT of steel billets, 84,634 MT of wire rods, Central Avenue,
22,764 MT of HB wire and 72,448 MT of ferro alloys. The company also generated 560.39 mn Kwh Nagpur - 440018, Maharashtra
of power in FY15. During the year, the company exported 28,665 MT of ferro alloys. Website: www.seml.co.in

14,184.6 1,821.7 9,904.6 1,988.8 14.0 12.8 18.4
(As on Mar 31, 2015)
Kirloskar Ferrous Industries Limited

About the Company
Kirloskar Ferrous Industries Ltd (KFIL), a flagship company of the Kirloskar Group, was incorporated Top 500 Ranking
in 1991. KFIL commenced commercial operations in 1994. In 2007, the company acquired the Income 410
Solapur plant from Kirloskar Oil Engines Ltd. KFIL is primarily engaged in the business of iron castings
and pig iron. The company manufactures pig iron products of foundry grade, SG grade and basic Net Profit 373
grade. It produces grey iron castings upto 500 kg single piece weight and SG iron castings up to Networth 409
75 kg single piece weight. Casting products manufactured by KFIL include cylinder blocks, cylinder
heads and clutch housing. KFILs products mainly cater to tractors and automotives industries. KFIL Address
has two manufacturing facilities located at Koppal in Karnataka and Solapur in Maharashtra with an 13, Laxmanrao Kirloskar Road,
aggregate capacity of manufacturing 360,000 MTPA of pig iron and 102,000 MTPA of casings. The Khadki,
company also has power plant operating with an annual installed capacity of 11.5 MW. During FY15, Pune - 411003, Maharashtra
the company sold 318,023 MT of pig iron and 57,257 MT of iron castings. Website: www.kfil.com

13,682.0 492.8 4,510.2 1,462.3 10.7 3.6 10.9
(As on Mar 31, 2015)
Indian Metals and Ferro Alloys Limited

About the Company
Indian Metals and Ferro Alloys Ltd (IMFA) was incorporated in 1961. IMFA operates in two business Top 500 Ranking
segments viz ferro alloys and power. The ferro alloy division produces ferro alloys comprising of ferro Income 411
chrome and ferro silicon that are used as inputs by the stainless steel industry. The power division
is engaged in operating a 258 MW coal based captive power plant including 30 MW dual fuel power Net Profit 452
plants and sells surplus power generated to state grids. The company operates its manufacturing Networth 318
facilities at Therubali and Choudwar in Odisha with an installed capacity of producing 275,000
MTPA of ferro chrome. The company also owns captive chrome ore mines in Sukinda, Mahagiri and Address
Nuasahi. Some of the major clients of the company include Jindal Stainless, Shah Alloys, Marubeni IMFA Building,
Corporation, and Nishhin Steel of Japan amongst others. In FY15 the company produced 205,203 Bomikhal,
MT and sold 205,478 MT of ferro alloys. During the year, IMFA also produced 913.9 MU and sold P.O. Rasulgarh,
17.96 MU of electricity. The chrome ore produced from mines for captive use amounted to 414,138 Bhubaneswar - 751010, Odisha
MT. Website: www.imfa.in

13,665.7 109.8 8,586.4 2,530.3 18.5 0.8 1.3
(As on Mar 31, 2015)

Kalyani Steels Limited
About the Company
Kalyani Steels Ltd (KSL), a part of Kalyani Group was incorporated in 1973. The company is primarily Top 500 Ranking
engaged in manufacturing and supply of steel and its products. The company caters to diversified Income 433
users segment such as automotive, engineering, energy, aluminium smelting, defence etc. Under
the automobile sector the company provides engine components such as crankshaft, camshaft, Net Profit 319
connecting rods, axle beams, transmission components, steering knuckles and bearings. Under Networth 403
engineering application, KSL supply high quality medium carbon, high carbon, medium alloy and
micro-alloyed steels for variety of application in energy, railway, defence, fasteners and material Address
handling amongst others. Under the aluminium smelting segment the company provides low Mundhwa,
electrical resistivity steel. It also manufactures round cast for seamless tube industry. KSL operates Pune - 411036, Maharashtra
an integrated steel complex in Karnataka comprising of hot metal capacity of 650,000 MTPA of Website: www.kalyanisteels.com
carbon and alloys steels, three mini blast furnaces, two rolling mills, sinter plant, power plant, BFG
fired re-heating furnaces and testing facilities. In FY15, KSL sold 201,770 MT of rolled products,
16,047 MT of cast blooms and 2,312 MT of pig iron.

12,293.3 833.1 4,727.9 1,641.1 13.3 6.8 17.6
(As on Mar 31, 2015)
Nava Bharat Ventures Limited

About the Company
Nava Bharat Ventures Ltd (NBVL) was incorporated in 1972. NBVL is the flagship company of Top 500 Ranking
the Nava Bharat group. The company has a diversified business and can be classified under four Income 438
segments: ferro alloys, power generation, mining and agri-business. Under ferro alloys segment,
NBVL operates smelters for the production of manganese alloys and chromium alloys in Telangana Net Profit 257
and Odisha. Under the power segment the company has geographically diversifying its power Networth 172
assets and moving towards integrated power projects with captive coal mines, and, hydel power
generation. The power units located across Telangana, Odisha and AP collectively generated 1,252 Address
Mus of power in FY15. Its mining business is carried out, through its step-down subsidiary Maamba 6-3-1109/1,
Collieries Limited (MCL), coal mining at Maamba in Zambia. The company has diversified into agri- Nava Bharat Chambers,
business, starting with sugarcane development and production of sugar and downstream products. Rajbhavan Road,
It operates an integrated sugar facility at Samalkot, AP with crushing capability of 4,000 TCD of Hyderabad - 500082, Telangana
sugarcane. In Mar 2016, NBVL entered into an agreement with Tata Power Trading Company Ltd for Website: www.nbventures.com
supplying power to Telangana State Power Distribution Companies.

12,039.5 1,428.9 25,302.3 2,090.9 17.4 11.9 5.6
(As on Mar 31, 2015)
Tata Metaliks Limited

About the Company
Tata Metaliks Ltd (Tata Metaliks) was incorporated in 1990. Tata Metaliks belong to Tata Steel. Top 500 Ranking
The company is one of the leading manufacturers of foundry grade pig iron in India. Tata Metaliks Income 459
business can be classified into three segments: pig iron, by-products and services. The company
produces pig iron that meets exacting product and quality standards. The pig iron by Tata Metaliks Net Profit 315
caters to diversified usages like pressure tight precision castings, automobile engine blocks, Networth 488
crankshafts, gears, rolling mill rolls, motor and generator housings and railway and machine tools.
In addition to pig iron, Tata Metaliks also offers a range of by-products such as slag - granulated blast Address
furnace slag for cement plants, potted pig iron - generally used by foundries as scrap, scrap pig iron Tata Centre, 10th Floor,
and iron sweepings (low Fe and high Fe). The company markets its DI pipes under the brand name 43, Jawahar Lal Nehru Road,
Tata Ductura. Tata Metaliks also offer training and consultancy services in different areas of foundry Kolkata - 700071, WB
operation. In FY15, production of DI pipes reached 109,883 tonnes as compared to 95,389 tonnes Website: www.tatametaliks.com
in 2013-14, an increase of 15%.

10,999.9 854.3 1,873.8 1,329.8 12.1 7.8 45.6
(As on Mar 31, 2015)

Liquor
Liquor
Comparative Matrix

Company Name
1 United Spirits Limited* 82,093.1 (848.0) 19,405.8 (1.0) (4.4)
2 United Breweries Limited 47,298.8 2,595.3 18,090.1 5.5 14.3
3 Radico Khaitan Limited 15,333.8 676.4 7,897.9 4.4 8.6

United Spirits Limited
About the Company
United Spirits Ltd (USL), was incorporated in 2006 through the merger of McDowell & Co Ltd, Top 500 Ranking
Herbertsons Ltd, Triumph Distillers and Vintners Pvt Ltd, Baramati Grape Industries India Ltd, Shaw Income 111
Wallace Distilleries Ltd and four other companies. In 2013-14, Diageo plc acquired a majority stake
in the company. USL is engaged in the manufacturing, purchasing and selling of beverage alcohol Net Profit 485
such as spirits and wines. The company has more than 140 brands across different flavors. USLs Networth 205
brands include McDowells No.1, Royal Challenge, Signature Antiquity and Black Dog among others.
In FY15, USL undertook a brand renovation for Royal Challenge whisky. It also transformed its 15,000 Address
outlets into Perfect Stores. In FY15, several premium and luxury brands of Diageo such as Johnnie UB Tower,
Walker, Singleton and Ciroc were integrated with USLs portfolio. According to the Extraordinary #24, Vittal Mallya Road,
General Meeting (EGM) held on Jan 22, 2016, the shareholders of the company voted in favour Bengaluru - 560001, Karnataka
of a resolution stating that the Company shall report to the Board for Industrial and Financial Website: www.unitedspirits.in
Reconstruction (BIFR) about erosion of the net worth of the company as per Section 23 of the
Sick Industrial Companies (Special Provisions) Act, 1985.

82,093.1 (848.0) 19,405.8 (12,400.6) -15.1 (1.0) (4.4)
(As on Mar 31, 2015)
United Breweries Limited

About the Company
United Breweries Ltd (UBL), a UB Group company is engaged in manufacture, purchase and sale of Top 500 Ranking
beer including licensing of brands. The companys flagship brand is Kingfisher under which it has Income 167
various other brands including Kingfisher Premium, Kingfisher Ultra, Kingfisher Blue, Kingfisher Max
and Kingfisher Strong. Its other brands include Cannon 10000, Zingaro, UB Export, Export Strong, Net Profit 194
London Pilsner, Kalyani Black Label and Bullet. The company operates through a network of around Networth 216
21 owned manufacturing facilities and nine contract manufacturing facilities. It offers its products
in India and in over 69 countries around the world. During the year the In FY15, the companys Address
greenfield brewery near Patna in Bihar commenced operations and it expanded its supply base UB Tower, UB City,
in Rajasthan with the acquisition of brewing assets near Shahjahanpur. In Jan 2016, the company 24, Vittal Mallya Road,
ventured into ready to drink segment with the launch of Kingfisher Buzz. As on May 23, 2016, Mr. Bengaluru - 560001, Karnataka
Vijay Mallya who is the Chairman of the company, has been declared as a willful defaulter. Website: www.unitedbreweries.com

47,298.8 2,595.3 18,090.1 6,573.2 13.9 5.5 14.3
(As on Mar 31, 2015)
Radico Khaitan Limited

About the Company
Radico Khaitan Ltd (RKL) was incorporated in 1943 as Rampur Distillery. In 1998, the company Top 500 Ranking
entered the branded liquor business by launching its flagship brand, 8 PM whisky. In 2005, RKL Income 375
entered the deluxe vodka segment with the launch of Magic Moments Vodka. RKL is primarily
engaged in the business of manufacture and trading of liquors in India and internationally. RKLs Net Profit 345
product portfolio includes whisky, rum, brandy, vodka etc. under the brands 8PM, Royal Whytehall, Networth 332
Contessa, 8 PM Bermuda, Magic Moments, Morpheus, Verve, Magic Moments Remix, After Dark
and Old Admiral amongst others. Radico Khaitan operates three distilleries and one JV with total Address
capacity of 150 mn ltrs. RKL also has 33 bottling units spread across the country. RKL brands have Bareilly Road,
presence in over 50 countries across Americas, Asia Pacific, Africa, South East Asia, Middle East and Rampur - 244901, UP
Canada. In FY15, the companys IMFL volumes declined by 4.3% whereas prestige & above brands Website: www.radicokhaitan.com
volumes increased by 8.8%.

15,333.8 676.4 7,897.9 2,132.1 13.9 4.4 8.6
(As on Mar 31, 2015)

M e d i a a n d E n t e r ta i n m e n t
Media and Entertainment
Comparative Matrix

Company Name
1 Zee Entertainment Enterprises Limited 36,535.0 8,318.0 45,601.0 22.8 18.2
2 Sun TV Network Limited 23,314.5 7,372.3 30,200.5 31.6 24.4
3 D. B. Corp Limited 20,346.8 3,169.8 12,605.1 15.6 25.1
4 Jagran Prakashan Limited 16,917.2 2,235.5 10,271.5 13.2 21.8
5 HT Media Limited 15,747.5 1,303.5 14,653.9 8.3 8.9
6 PVR Limited 13,892.1 157.9 3,071.2 1.1 5.1
7 Eros International Media Limited 10,920.8 1,241.9 2,055.6 11.4 60.4
8 Inox Leisure Limited 9,647.4 252.7 6,777.4 2.6 3.7

Zee Entertainment Enterprises Limited
About the Company
Zee Entertainment Enterprises Ltd (ZEE), formerly known as Zee Telefims Ltd was incorporated in Top 500 Ranking
1982. The company is an integrated media and entertainment company engaged in broadcasting Income 212
and content development, production and its delivery via satellite. ZEE is engaged in broadcasting
of various national and regional entertainment television channels. The company also provides Net Profit 89
syndication of media content and advertisement space for channels broadcasted in overseas markets. Networth 121
Some of the channels broadcasted by ZEE include Zee Cafe, Zee Marathi, Zee Bangla, Zee Cinema,
Zee Anmol, TEN Sports, TEN Cricket, Lining Foodz, Zee Studio, Ten HD and ETC Punjabi amongst Address
others. ZEE broadcasts 33 channels in India, 36 channels in the international market entertaining 135, Dr Annie Besant Road,
over 959 mn viewers in 169 countries. In FY15, ZEE launched new general entertainment channel Worli,
Zindagi and &TV in India; Zee World in Africa; Zee Nung in Thailand and Zee Hiburan in Indonesia. Mumbai - 400018, Maharashtra
During the year, the company also launched &TV in UK; Zee Cinema International in Africa; Zee Website: www.zeetelevision.com
Tamil and Zee Khana Khazana in Indian Ocean Islands.

36,535.0 8,318.0 45,601.0 12,717.0 34.8 22.8 18.2
(As on Mar 31, 2015)
Sun TV Network Limited

About the Company
Sun TV Network Ltd (Sun TV) was incorporated in 1985 as Sumangali Publications Pvt Ltd. The Top 500 Ranking
company is engaged in producing and broadcasting satellite television and radio software Income 287
programming in the regional languages of South India. The company currently operates television
channels in four South Indian languages and has strong presence in southern India along with Net Profit 97
viewership in Sri Lanka, Singapore, Malaysia, UK, Europe, Middle East, US, Australia, South Africa Networth 152
and Canada. The company operates its flagship channel Sun TV along with other major satellite
channels such as Surya TV, Gemini TV and Udaya TV. Sun TV also undertakes business of FM Radio Address
broadcasting at Chennai, Coimbatore and Tirunelveli. The companys film production/distribution Murasoli Maran Towers,
division Sun Pictures undertakes production/distribution of movies in Tamil. Presently, Sun TV 73, MRC Nagar Main Road,
offers 33 channels with the reach to over 95 mn households in the country. The company also MRC Nagar,
owns Sunrisers Hyderabad, a Hyderabad-based cricket team which participates in Indian Premier Chennai - 600028, TN
League. In Feb 2016, Sun TV partnered with YuppTV to launch 10 channels in the Middle East and Website: www.sunnetwork.in
North Africa.

23,314.5 7,372.3 30,200.5 17,015.8 73.0 31.6 24.4
(As on Mar 31, 2015)
D. B. Corp Limited
About the Company
D. B. Corp Ltd (DBCL), a print media company is primarily engaged in printing and publication of Top 500 Ranking
newspapers. In 1958, DBCL launched its flagship newspaper, Dainik Bhaskar. DBCL is in the business Income 311
of print, radio and digital media. The major brands in print business of DBCL includes Dainik Bhaskar,
Divya Bhaskar, Divya Marathi, Saurashtra Samachar, DNA, DB Star and periodicals such as Aha Net Profit 175
Zindagi, Bal Bhaskar and Young Bhaskar. DBCL is on air in 17 cities under the brand name My FM. Networth 268
The company has digital media presence through its portals dainikbhaskar.com, divyabhaskar.com,
divyamarathi.com and dailybhaskar.com. DBCL publishes six newspapers with 58 editions, 199 sub- Address
editions in four languages across 14 states with a total readership of 44 million. DBCL has nine Plot No. 280,
digital portals in four languages viz.Hindi, Gujarati, Marathi and English. During FY15, the company Sarkhej - Gandhinagar Highway,
launched five new portals namely moneybhaskar.com, fashion101.in, jeevanmantra.in, dbcric.com Near YMCA Club,
and bollywoodbhaskar.com. In Oct 2015, DBCLs flagship newspaper Dainik Bhaskar strengthened Makarba, Ahmedabad - 380051, Gujarat
its radio business by acquiring 14 frequencies which includes none frequencies in Maharashtra. Website: www.bhaskarnet.com

20,346.8 3,169.8 12,605.1 5,844.5 28.7 15.6 25.1
(As on Mar 31, 2015)

Jagran Prakashan Limited
About the Company
Jagran Prakashan Ltd (Jagran Prakashan) was incorporated in 1975. Jagran Prakashan is primarily Top 500 Ranking
engaged in printing and publishing of newspaper and magazines in India. The company is also Income 351
engaged in other businesses such as outdoor advertising, event management and digital business.
Dainik Jagran is the flagship brand of the company. Some other offerings include i-next a compact Net Profit 207
daily in bilingual format, Inquilab an urdu newspaper, Mid-day a Gujarati tabloid, Nai Dunia a hindi Networth 290
daily and Sakhi a womens magazine amongst others. The company also provides marketing services
through hoardings and billboards, unique street furniture, retail signages and ambient media Address
through out of home division Jagran Engage. It also provides below the line marketing solutions or Jagran Building,
experimental marketing area through its division Jagran Solutions. The company publishes 12 print 2, Sarvodya Nagar,
titles in 5 different languages spread across 15 states with over 100 editions. In Jun 2015, Jagran Kanpur - 208005, UP
Prakashan forayed into radio business by completing acquisition of Music Broadcast Pvt Ltds Radio Website: www.jplcorp.in
City which is present in 20 stations across seven states.

16,917.2 2,235.5 10,271.5 4,643.6 27.4 13.2 21.8
(As on Mar 31, 2015)
HT Media Limited
About the Company
HT Media Ltd (HT Media) began operations in 1924 with the launch of its flagship newspaper, Top 500 Ranking
Hindustan Times. In 2003, the media business of the company was de-merged and incorporated Income 368
under HT Media. The Company is engaged in the business of printing and publication of newspapers
& periodicals, radio broadcast and all other related activities through its radio channels operating Net Profit 266
under brand name Fever 104 in Delhi, Mumbai, Bengaluru and Kolkata. The company publishes Networth 233
three newspapers including Mint, a business paper; Hindustan, a Hindi daily and Hindustan Times,
English daily. It also provides internet related services through portals like hindustantimes.com, Address
livemint.com, Shine.com, HTCampus.com, livehindustan.com etc. During FY15, the company Hindustan Times House,
launched an exclusive portal for IT jobs by the name tech.shine.com. In FY15, the companys mobile 18-20, Kasturba Gandhi Marg,
marketing brand Digital Quotient launched ARQ, an audience marketing platform to connect with New Delhi - 110001, Delhi
right target audience and ROCQ, data analytics platform for connected devices. In Mar 2016, HT Website: www.htmedia.in
Media launched FM radio broadcast stations Radio Nasha 107.2 FM in Delhi and Radio Nasha
91.9 FM in Mumbai.

15,747.5 1,303.5 14,653.9 2,177.5 13.8 8.3 8.9
(As on Mar 31, 2015)
PVR Limited
About the Company
PVR Ltd (PVR) was incorporated in the year 1995 pursuant a JV agreement between Priya Exhibitors Top 500 Ranking
Pvt Ltd and Village Roadshow Ltd, Australia. In 1997, the company ventured into multiplex business Income 403
by establishing first multiplex cinema in New Delhi. The company is into exhibition and production
of films. It also undertakes in-cinema advertisements/product displays and sale of food and Net Profit 440
beverages at cinema location. PVR also provides rolling out F&B and retail entertainment concepts Networth 453
through its subsidiary PVR Leisure Ltd. Some of the brands of PVR include PVR IMAX, PVR bluo, Food
Union, PVR Icon, PVR nest, Gold Glass and Mistral amongst others. In FY15, PVR entertained 59.2 Address
mn patrons at its cinemas and opened five new properties with 50 screens. PVR currently operates 61, Basant Lok,
a cinema circuit consisting of 519 screens in 113 properties across 46 cities pan India. In Mar 2016, Vasant Vihar,
PVR entered into strategic partnership with Paytm to sell tickets on Paytms e-commerce platform. New Delhi - 110057, Delhi
In May 2016, PVR opened 3 screen multiplex in Lucknow taking the total count to 13 screens across Website: www.pvrcinemas.com
3 screens in Lucknow.

13,892.1 157.9 3,071.2 1,851.9 13.3 1.1 5.1
(As on Mar 31, 2015)

Eros International Media Limited
About the Company
Eros International Media Ltd (Eros), a part of Eros International Group is a global player within the Top 500 Ranking
Indian media and entertainment industry. The company is primarily engaged in the business of Income 464
film production, exploitation and distribution. It operates on a vertically integrated studio model
controlling content as well as distribution and exploitation across multiple formats globally. The Net Profit 271
company distributes content globally through multiple distribution channels viz. Theatrical which Networth 484
includes multiplex chains and stand-alone theatres; television syndication which includes satellite
television broadcasting, cable television and terrestrial television; and digital which includes internet Address
protocol television, video-on-demand, internet channels and ErosNow. Eros own and license rights Opp. Laxmi Industrial Estate,
to film produced in several regional languages including Tamil, Telugu, Kannada, Marathi and Andheri (West),
Punjabi. The company has a distribution network that spans over 50 countries including UK, US, Off Veera Desai Road,
Dubai, Australia, Fiji, and Singapore. In FY15, the company released 64 films consisting of 44 Hindi Mumbai - 400053, Maharashtra
films and 20 Tamil / Telugu films. During the year, Eros launched a Motion Pictures Production Website: www.erosintl.com
Division, Trinity Pictures to focus on developing intellectual property in-house.

10,920.8 1,241.9 2,055.6 2,582.7 23.6 11.4 60.4
(As on Mar 31, 2015)
Inox Leisure Limited

About the Company
Inox Leisure Ltd (Inox Leisure), a part of the INOX group, was established in 1999. The company is Top 500 Ranking
amongst the leading multiplex operator engaged in the business of film exhibition and operating Income 498
and managing multiplexes. It has been the venue for the prestigious International Film Festival
of India (IFFI) every year since the launch of its multiplex in Goa in 2004. It offers a selection of Net Profit 420
Hindi, English and regional movies with computerized ticketing system. The company operates Networth 359
34 properties in West India, followed by 24 in North, 22 in South and 17 in the East. Its circuit
includes; 97 multiplexes, 377 screens comprising of more than 99,000 seats located across 52 cities Address
in 17 states. It offers facilities with luxurious and premium venue offerings, personalised levels of ABS Towers, 2 Floor,
service, equipped with custom designed recliner seating and state-of-the-art projection and sound Old Padra Road,
systems. In FY15, the company acquired Satyam Cineplexes with 38 screens, a prominent player in Vadodara - 390007,
the multiplex space with a strong presence in North India. Gujarat
Website: www.inoxmovies.com

9,647.4 252.7 6,777.4 1,306.4 13.5 2.6 3.7
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

M e ta l P r o d u c t s
Metal Products
Comparative Matrix

Company Name
1 Jindal Saw Limited 67,232.6 3,156.1 42,213.4 4.7 7.5
2 Welspun Corp Limited 50,963.8 (157.1) 18,570.1 (0.3) (0.8)
3 Surya Roshni Limited 28,608.3 540.9 8,110.1 1.9 6.7
4 Electrosteel Castings Limited* 21,845.9 726.7 19,616.5 3.3 3.7
5 APL Apollo Tubes Limited 20,289.4 313.6 3,321.2 1.5 9.4
6 Ratnamani Metals & Tubes Limited 17,006.6 1,725.1 9,067.1 10.1 19.0
7 Maharashtra Seamless Limited 14,379.7 1,225.6 22,639.4 8.5 5.4
8 Man Industries (India) Limited* 14,015.3 535.6 4,861.4 3.8 11.0
9 Skipper Limited 13,144.6 891.7 2,988.1 6.8 29.8
10 Srikalahasthi Pipes Limited 10,922.1 829.8 2,923.5 7.6 28.4
11 Good Luck Steel Tubes Limited 10,882.5 275.7 1,809.8 2.5 15.2

Jindal Saw Limited
About the Company
Jindal Saw Ltd (JSL) was incorporated in 1984. JSL is a part of O.P. Jindal Group. The company Top 500 Ranking
has diversified product portfolio which caters to wide user base. The product manufactured by Income 129
JSL include submerged arc pipes and spiral pipes for the energy transportation; carbon, alloy
and stainless steel seamless pipes and tubes manufactured by conical piercing process used for Net Profit 177
industrial applications; and Ductile iron (DI) pipes for water and wastewater transportation. JSL Networth 127
also provides various value added products like pipe coatings, bends and connector castings to
its clients. The company is Indias one of the most diversified manufacturer and supplier of steel Address
and iron pipe products for water industry and other industrial applications. The company with A-1, Nandgaon Road,
Jindal ITF, a subsidiary of Jindal SAW is making rapid progress in urban services sectors with: UPSIDC Industrial Area,
water, wastewater & solid waste management, domestic transport & logistics and transportation Kosi Kalan,
equipment fabrication. The company manages fifteen direct subsidiaries of which ten are located in Mathura 281403, UP
India and five spread across the globe. Website: www.jindalsaw.com

67,232.6 3,156.1 42,213.4 9,126.2 13.6 4.7 7.5
(As on Mar 31, 2015)
Welspun Corp Limited

About the Company
Welspun Corp Ltd (Welspun Corp), a flagship company of Welspun Group, was incorporated in 1995. Top 500 Ranking
The company along with subsidiary is engaged in production and coating of high grade submerged Income 160
arc welded pipes, hot rolled steel plates and coils and power generation. The company operates
through its manufacturing facilities located in Gujarat and Karnataka. It also has presence in Saudi Net Profit 474
Arabia and US through its subsidiaries. Major clients of the company include Chevron, DOW, Elpaso, Networth 209
Enterprise, Exxon Mobil, GAIL, Hunt Oil, Kinder Morgan, PTTEP, Qatar Petroleum, Reliance, Saudi
Aramco, Shell, Statoil, TOTAL and TransCanada to name a few. As on Mar 31 2015, Welspun Corp Address
had a capacity to manufacture 2,425K MT of pipes and 1,500K MT of plates & coil. In FY15, Welspun Welspun City,
Corp received new orders of over 1 MMT taking the order book position to 1,029K MT valued at Village Versamedi,
` 72 bn as on Mar 31, 2015. In Mar 2016, Welspun Corp received an order for supply of 200K MT Anjar,
pipes for an offshore project in the Middle-East. Kutch 370110, Gujarat
Website: www.welspuncorp.com

50,963.8 (157.1) 18,570.1 4,120.3 8.1 (0.3) (0.8)
(As on Mar 31, 2015)
Surya Roshni Limited

About the Company
Surya Roshni Ltd (Surya) was incorporated in 1973 as a small tube making unit. Gradually the company Top 500 Ranking
has diversified its business into lighting products and G.I & hollow section pipes manufacturer. The Income 245
company is primarily engaged in manufacturing and sale of steel tubes & pipes, cold rolled strips,
different varieties of lamps, fittings, fans, appliances and allied items. Surya offers a vast range of Net Profit 363
product including tube lights, GLS, CFL lamps, wide range of LEDs, HPSV / metal halide lamps, street Networth 328
lighting, high bay lighting, flooding lighting, landscape lighting and high mast etc. The company
also provides wide range of ceiling, table, pedestral and wall mounting fans along with wide range Address
domestic exhaust fans. The company operates two steel divisions and two lightning divisions located Delhi Rohtak Road,
in Haryana, MP and Uttarakhand. The company also has international presence in over 44 countries Bahadurgarh - 124507, Haryana
worldwide. In FY15, the company sold 800,000 fans. During the year, Surya ventured into home Website: www.surya.co.in
appliances business by introducing contemporary range of electrical home appliances like electrical
storage water heaters, room heaters, dry irons, steam irons and immersion heater.

28,608.3 540.9 8,110.1 2,268.2 7.9 1.9 6.7
(As on Mar 31, 2015)

Electrosteel Castings Limited
About the Company
Electrosteel Castings Ltd (Electrosteel Castings), an Electrosteel Group company was incorporated Top 500 Ranking
in 1955. The company is primarily engaged in manufacturing ductile iron (DI) pipes, fitting and Income 297
casting iron (CI) pipes. The company also undertakes turnkey solution for water transportation
and sewerage management and turnkey projects as an EPC contractor for infrastructure projects, Net Profit 337
including sourcing, treatment and distribution in its portfolio of services. Electrosteel Castings Networth 204
operates piping plants with a total installed capacity of manufacturing 280,000 TPA of DI pipes
and 108,000 TPA of CI pipes. It also operates a 12 MW power plant and a coke oven plant with a Address
capacity of 225,000 TPA at Haldia. The company caters to 35 countries spread across the Indian Rathod Colony,
sub-continent, South East Asia, The Middle East, Europe, US, South America and Africa. In FY15, Sundergarh,
Electrosteel Castings produced 277,317 MT of DI pipes, 32,041 MT of CI pipes and 6,027 MT of Rajgangpur - 770017, Odisha
DI fittings. During the year, the company also commissioned its DI fittings plant at Haldia. During Website: www.electrosteel.com
the period, Electrosteel Castings incorporated a subsidiary in Bahrain in the name of Electrosteel
Bahrain Holding S.P.C. Company.

21,845.9 726.7 19,616.5 2,801.7 12.8 3.3 3.7
(As on Mar 31, 2015)
APL Apollo Tubes Limited

About the Company
APL Apollo Tubes Ltd (APL Apollo) was incorporated in 1986. The company is primarily into Top 500 Ranking
manufacturing of ERW mild steel pipes & tubes. The company operates six manufacturing facilities Income 313
located across India three in Sikandrabad, UP, and one each in Murbad (Maharashtra), Hosur (TN),
and Bangalore (Karnataka). Some of its key products include; MS-Black round tubes, galvanized iron Net Profit 402
tubes, pre-galvanized tubes, hollow sections, API tubes and dynamically balanced tubes. Some of its Networth 445
special products include; hollow section pipe, window section, flat oval/capsule section, handrail,
d-section, elliptical tube and narrow section among others. The capacity of APL Apollo stood at 1.05 Address
mn tonnes in FY15. During FY15, the company achieved a 22% growth in production at 709,600 37, Hargobind Enclave,
MTPA of pipes as against the installed capacity of 1,050,000 MTPA. Its distribution network includes Vikas Marg,
26 warehouses, over 400 direct dealers servicing more than 30,000 retailers in over 200 cities and New Delhi - 110092, Delhi
towns of the country. In Mar 2016, the company achieved a production capacity of one lac ton per Website: www.aplapollo.com
month.

20,289.4 313.6 3,321.2 1,034.4 5.1 1.5 9.4
(As on Mar 31, 2015)
Ratnamani Metals & Tubes Limited

About the Company
Ratnamani Metals & Tubes Ltd (Ratnamani) was registered in Sep 1983 and commenced production Top 500 Ranking
of stainless steel tubes and pipes in 1985. Ratnamani operates in two business segments namely Income 349
Stainless Steel (SS) and Carbon Steel (CS). The companys SS division manufactures seamless
and welded tubes and pipes, instrumentation tubes, heat exchanger tubes and titanium welded Net Profit 231
tubes. The CS division manufactures SAW and ERW pipes and also provides external & internal Networth 310
coating solutions. Sectors catered by the company include oil & gas, petrochemicals & refineries,
power, fertiliser & chemical, paper, defence, atomic energy, sugar, food & dairy, pharmaceuticals, Address
automobile and aerospace among others. The company operates three manufacturing facilities 17, Rajmugat Society,
located in Gujarat. Ratnamani has a wholly owned subsidiary in the name of Ratnamani INC in US to Naranpura Cross Road,
cater in and around North American market. In Aug 2015, the company received order worth ` 1.6 Ankur Road, Naranpura,
bn for supply of coated CS pipes from Reliance Gas Pipelines Ltd and in Sep 2015, it secured order Ahmedabad - 380013, Gujarat
worth ` 5.28 bn for supply of CS pipes from L&T. Website: www.ratnamani.com

17,006.6 1,725.1 9,067.1 3,205.1 18.8 10.1 19.0
(As on Mar 31, 2015)

Maharashtra Seamless Limited
About the Company
Maharashtra Seamless Ltd (Maharashtra Seamless), a flagship company of DP Jindal Group was Top 500 Ranking
incorporated in 1988. It operates under two business segments that include steel pipes and tubes Income 389
and power. Under steel pipes and tubes the company manufactures steel pipe in seamless, coated
and Electrical Resistance Welding (ERW) pipes category. The companys product portfolio includes Net Profit 273
MS & Galvanized pipes, API Line pipes, OCTG casting tubing, cold drawn tubes, OCTG drill pipe, Networth 185
boiler tubes and hot finished pipes & tubes amongst others. Maharashtra Seamless operates two
seamless & ERW pipes manufacturing facilities located at Maharashtra with an installed capacity Address
of 200,000 MTPA of ERW pipes and 150,000 MTPA of carbon & alloy steel hot finished and cold Pipe Nagar,
finished seamless pipes. The company also has presence in renewable energy space with a 5MW Village Sukeli, NH 17,
solar power plant in Pokaran, Rajasthan and a 7MW wind power plant in Satara, Maharashtra. In BKG Road, Roha,
FY15, Dev Drilling Pte Ltd became joint venture of Maharashtra Seamless. During the year, the Raigad - 402126, Maharashtra
company penetrated in eight new countries to market its products. Website: www.jindal.com

14,379.7 1,225.6 22,639.4 1,919.5 13.3 8.5 5.4
(As on Mar 31, 2015)
Man Industries (India) Limited

About the Company
Man Industries (India) Ltd (Man Industries), a part of Man Group of India was incorporated in 1988. Top 500 Ranking
In 1994, it entered into MoU with Haeusler of Switzerland for its first SAW pipe plant at Pithampur, Income 397
MP. Man Industries is engaged in manufacturing, processing and trading of large diameter carbon
steel pipes for various high pressure transmission applications for gas, crude oil, petroleum products Net Profit 364
and portable water. Its product portfolio includes LSAW pipes & HSAW pipes along with various Networth 401
types of anti-corrosion coating systems. The company operates through two plants located at Anjar,
Gujarat and Pithampur, MP which have a total combined capacity of 1 MMT. The company also has Address
windmills in Gujarat with an installed capacity of 7 MW. In Oct 2015, Man Industries received orders 101, Man House,
worth ` 7 bn from international and domestic customers for supply of pipes for oil, gas and water Opp Pawan Hans,
sector projects. As on Oct 2015, the outstanding order book position of the company stood at ` 13 S V Road, Vile Parle (West),
bn. The company also has subsidiaries in India, UAE and US. Mumbai - 400056, Maharashtra
Website: www.mangroup.com

14,015.3 535.6 4,861.4 1,443.3 10.3 3.8 11.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 419
Net Profit 311
Skipper Limited Net Worth 459
Sajan Kumar Bansal, Managing Director

Company Vision Statement: To produce world class quality products ensuring robust Financial Snapshot (In ` mn)
National Infrastructure development and making India the preferred sourcing hub for
Total Income 13,144.6
Global Infrastructure needs.
Net Profit 891.7
About the Company Networth 2,988.1
Skipper Limited established in 1981 is one of the leading companies in the Power EBIDTA 2,168.2
Transmission & Distribution and the PVC pipes & fittings segment. With over 35 years of
Ratios (%)
domain knowledge it is ranked third in India and tenth globally basis the manufacturing
capacity. Skipper differentiates its offerings with high quality and cost effective solution for EBIDTA Margin 16.5
infrastructure providers and telecom operators. Its international footprint spans across NPM 6.8
continents such as Latin America, Europe, Africa and is spread across 20 countries with
RONW 29.8
presence across sub-segments such as Towers, monopoles and poles. The company has
(As on Mar 31, 2015)
been recently recognized as one of the fastest growing Transmission Tower companies in
India on various forums. Till last year, Skipper Limited was a regional powerhouse in the Management Details
PVC pipe business for Eastern India. The company has been on an expansion mode to Chairman & Independent Director
cater the Western region of the country through a Plant in Ahmedabad and North Eastern Mr. Amit Kiran Deb
region through a plant in Guwahati. The plant in Sikandrabad caters to the northern Managing Director
region of the country whereas Hyderabad plant will be commissioned shortly, catering Mr. Sajan Kumar Bansal
south, thus having a pan India presence. Skipper Limited is listed at BSE (538562) and Directors
NSE (Symbol: SKIPPER) in 2014 &2015 respectively. Mr. Sharan Bansal
Mr. Devesh Bansal
Areas of Expertise Mr. Siddharth Bansal
Skipper has over 35 years of domain knowledge across Transmission towers, distribution Independent Directors
poles, monopoles, solar & hot rolled structure, PVC/CPVC pipes and fittings. The company Mr. Manindra Nath Banerjee
operates in three business segments as listed below: Mr. Joginder Pal Dua
Ms. Mamta Binani
Engineering Products PVC Products Infrastructure

Power Transmission Towers UPVC Pipes Transmission Line EPC
Power Distribution Poles CPVC Pipes Underground Utility
(Swaged, High Mast and SWR Pipes Laying by HDD (Horizontal
Octagonal) Fittings Directional Drilling)
Transmission Line Water EPC
Monopoles
Mild Steel and High Tensile
Angles
Fasteners
Tower Accessories Address & Website
Galvanised and Black ERW
Pipes 3A, Loudon Street,
1st Floor,
Kolkata - 700 017
The company engages in the horizontal and vertical integration of all its major products,
Tel: + 91 3322892327/5731/5732
offering a wide range of interrelated, quality managed value-added products, starting Fax: + 91 33 2289 5733
from raw materials, to manufacturing and finally installation. It caters to sectors such Mail: [email protected]
as power T&D, solar energy, water distribution and construction. Under engineering
Website
products, it offers a wide range of products from 66kV to 800kV towers (single www.skipperlimited.com
circuit, double circuit, multi-circuit towers suitable for twin, quad and hex conductor
configurations). Skipper has 6 state-of-the-art construction manufacturing facilities in
Uluberia, Junglepore (2 Units), Ahmedabad, Guwahati & Sikandrabad. As on FY15 - 16,
the company had an installed capacity of 200,000 MTPA of engineering products and
35,000 MTPA of PVC products. The company plans to reach a capacity of 100,000 MTPA
for the PVC Unit by 2019. For its PVC products, the company operates a distribution
network comprising of more than 1500 dealers across the country.

Srikalahasthi Pipes Limited
About the Company
Srikalahasthi Pipes Ltd (SPL) was incorporated in the year 1991 in the name of Lanco Industries Top 500 Ranking
Ltd. The company acquired its present name in Sep 2014. SPL, a part of Lanco Group is primarily Income 463
engaged in manufacturing and supply of ductile iron pipes with predominant present in AP. It also
produces low ash metallurgical coke, sinter, pig iron, cement and power for captive consumption. Net Profit 321
It primarily caters to the needs of water infrastructure development. The company has a mini blast Networth 461
furnace with an installed capacity of manufacturing 225,000 MTPA of ductile iron pipes and 275,000
MTPA of liquid metal. In FY15, SPL produced 169,500 MT of ductile iron pipes, 160,554 MT of low Address
ash metallurgical coke, 218,206 MT of liquid metal and 85,770 MT of cement. During the year, the Srikalahasthi Mandal,
companys power plant also generated 91.9 MU of power as compared to 88.2 MU in the previous Chittoor District,
year. In Dec 2015, the company received order worth ` 10.5 bn for supply of ductile iron pipes from Rachagunneri 517641, AP
L&T, NCC, Megha Engineering and Infrastructures, Indian Hume Pipes and KLSR Infratech. Website: www.srikalahasthipipes.com

10,922.1 829.8 2,923.5 1,875.4 17.2 7.6 28.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 465
Good Luck Steel Tubes Net Profit 417
Mahesh Chandra Garg, Chairperson
Mr. Mahesh Garg views

In the recent past, the worlds economy was hit by opposing forces on all sides. While some parts of the globe showed strong growth rates (India and
the US) there were others that saw major slippages like China and the European Union. Relative to last year, the recovery in advanced economies is
expected to pick up slightly, while activity in emerging market and developing economies is projected to rebound in 2016.
Globally the economy saw many hand wind and India mirrored it say but the least. After several years of meager growth, demand pull has started
to come back into the Indian economy. The Make in India initiative of the government coupled with the interest rate reduction cycle is expected to
bring an economic revival and increase spending on infrastructure and related sectors. This will provide a huge opportunity for the industrial products.
Indian Government has injected fresh enthusiasm in the industry as companies are now ramping up projects. The government has substantially
increased its own outlays on pulling the Railways out of its problems and boosting expenditure on defense preparedness. Prime Minister Modis plans
to provide electricity to all Indian homes will give a fillip to the Power Sector also.
Every crisis comes with an opportunity. With a unique mix of talent, innovation, experience and a growing clientele, we have literally no limits to hold
us back.
The TRANSFORMATION is constant. I believe we have to keep reinventing ourselves to stay in this business.

Good Luck, an Engineering conglomerate, manufacturing & exporting engineering Total Income 10,882.5
products globally as well as domestically, was established in 1986 is a part of the Good
Luck Group. The company manufactures and exports wide range of galvanized & cold Net Profit 275.7
rolled coils/sheets, galvanized & black steel tubes & hollow sections, forgings & flanges, Networth 1,809.8
cold drawn welded & precision tubes, engineering fabricated structures for towers, EBIDTA 806.7
bridges, walkways, girders, boiler support structures, pipe rack structures, Chimney
Ratios (%)
structures and secondary support structures, and other Cold Rolled value-added
products. The company has a capacity of 2,50,000 MTPA. The clientele of the company EBIDTA Margin 7.4
comprises of members from the public sector, private sector OEMs and central and state NPM 2.5
government departments and spread across 100 countries globally. U.K., USA, Singapore,
RONW 15.2
South Africa, UAE, Germany, and France are few of the export markets of the company.
(As on Mar 31, 2015)
The company is treating Auto, Railways and Solar industries as its Sunrise sectors.
Management Details
Galvanized Pipes: The Galvanized Pipes are manufactured using steel and then coated Chairperson
using the process of galvanizing. These pipes are thoroughly tested and examined in Mahesh Chandra Garg
accordance with international standards. The galvanized pipes are mostly demanded Directors
for plumbing or tubing purpose, which can withstand corrosion from water and other Ramesh Chandra Garg
elements. The pipes are available in several standard as well as customized sizes, widths Nitin Garg
and thickness as per the specification provided by our clients. Galvanized pipes are Vijender Kr. Tyagi
installed for water supply and tubing for outdoor applications, but also suitable for gas Iswar C Agasti
and sewage applications. Rahul Goel
Kiran Garg
CDW/DOM/Auto Tubes: The Company manufactures precision engineered range of

Cold Drawn Welded Tubes & Precision Tubes. These tubes are known for temperature
resistance, high tensile strength, durability, dimensional accuracy and excellent finish.
These products are extensively used in automobile, oil, furniture, construction,
electrical and various other industries. These are manufactured as per national as
well as international quality standards. Owing to companys advanced manufacturing Address & Website
facility; The Company is able to meet the urgent requirements of our clients from two
509, Arunachal Building,
wheelers and four wheelers manufacturers like Tata Motors, Audi, BMW through their
Barakhamba Road,
associates. N. Delhi 110 001, Delhi
Website
CR Coils & Sheets: The company offers excellent CR (Cold Rolled) Coils that are made www.goodlucksteel.com
from finest steel metal and produced from hot rolled, before being pickled. The coils
are obtained through cold rolling where the metal is melted below its re-crystallization
temperature, which enhances their strength. The companys coils are of high demand
in automobile components, consumer durables items, industrial goods and precision

tubes. The cold rolled coils offered are made as per the IS 513, JIS 3132, EN 10051 and DIN 1614 quality standards. These products are
used in automotive sectors, white goods industries etc.
Fabricated Steel Structure: The company supplies fabricated steel structures for infrastructure projects in bridges, walkways, girders,
rail over bridges, foot over bridges, boiler support structures, pipe rack structures, chimney structures and secondary support structures
for power, oil& gas, refineries, fertiliser and chemical and cement industries. They supply mainly primary and secondary structures
fabricated from their state of the art facility from plates, channels and rolled sections to columns, bracings and hangers. They use
standard sections and plates of reputed makers such as SAIL/Jindal/RINL/Tata Steel/Essar and have inventory of similar stock for easy
delivery. Custom made columns can be assembled up to a length of 30-40 meters. The company is approved by RDSO, Ministry of
Railway. The company is executing Ganga Bridges on Agra- Etawah Section. EIL, ISGEC, Thermax are few names of our clients.
Transmission and Solar Mounting Structure: The company is a leading manufacturer and exporter of Tower which are made up of
quality galvanized steel. These towers are widely used for electric power transmission. The companys experts design the towers as
per the requirement of clients. They offer towers at competitive prices which support sturdy construction, high performance and
durability. The Company also offer Design and Engineering for panel support structures for setting up GRID connected solar park &
solar power plants. This includes supply, civil work and erection of structure. At present the company is providing around 25 MW
structure solution per month to our clients like Tata Solar, Sterling and Wilson etc.
Forgings: With the years of industrial knowledge and experience, the company has been able to provide our esteemed customers
with an extensive range of Forging, which are designed and manufactured using high grade raw material. These products are bulk
requirement in the market due to high quality and durability. the company has comprehensive mechanical testing facilities that include
impact and tensile testing which help to achieve the desired quality products. Latest technology such as ultrasonic testing and highly
sensitive specialized dye penetrant and magnetic particle technique is used to ensure superior quality products. ONGC, EIL, GE oil &
Gas are some of our customer.
Focus on Quality: The company has a strong focus on quality. In order to ensure highest quality of standard, the company has every
stage of its production monitored by quality control professionals. DGS & D, RITES, BHEL and SGS are some of the reputed third party
agencies that provide quality inspections for the companys products.
Environment Friendly: The company is a responsible citizen, and has a strong focus to be environment friendly. The company has taken
measures to minimize pollution, reduce environmental footprint, and optimize resource consumption. The company prides itself in
having environmental management plans for each of its sites.
Future Outlook
Our client centric approach and emphasis on quality products & services enable us to understand the market scenario. Further, it
is combined with highly competent management to guide the organization to become the leading business house in the country.
The organization would continue looking forward to expansion and continuous growth. The Company has undertaken drive for
capacity expansion in last couple of years. New manufacturing lines are added across the locations, new equipments based on
latest technology is being commissioned and plant layouts are reworked to achieve optimum utilizations of the installed capacities.
Technology Upgradation has emerged as the most important attributes in enhancing competitiveness. The Company is preparing to
keep itself ahead of the curve with respect to the new technologies that are coming up and at the same time develop new products
and processes for the customers in both the auto and the industrial space.

M i n i n g - M e ta l s &
Minerals
Mining - Metals & Minerals
Comparative Matrix

Company Name
1 Vedanta Limited 345,112.7 19,296.3 337,781.4 5.6 5.7
2 NMDC Limited 146,218.1 65,328.3 322,411.9 44.7 20.3
3 MOIL Limited 11,398.6 4,280.1 33,727.2 37.5 12.7

Vedanta Limited
About the Company
Vedanta Ltd (Vedanta), formerly known as Sesa Sterlite Ltd/Sesa Goa Ltd, is a global diversified Top 500 Ranking
natural resources company. As on Mar 31, 2015 the company had presence across India, South Income 33
Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka. Its business primarily involves exploring,
extracting and processing minerals and oil & gas. It produces and processes oil and gas, zinc, lead, Net Profit 48
silver, copper, iron ore, aluminium and commercial power. The companys iron ore business consists Networth 23
of iron ore exploration, mining, beneficiation and exports; copper business in India principally
consists of custom smelting and aluminum business comprises alumina production. In FY15, the Address
copper business accounted for more than 50% of the companys total revenue. During the same Sesa ghor, 20 EDC Complex, Patto,
period, the company recommenced iron ore production at Karnataka. Two separate schemes of Panjim, Goa 403001
amalgamation between the company and its wholly owned subsidiaries viz Sterlite Infra Ltd and Website: www.vedantalimited.com
Goa Energy Ltd became effective from Apr 8, 2015 and Mar 24, 2015 respectively.

345,112.7 19,296.3 337,781.4 59,188.9 17.2 5.6 5.7
(As on Mar 31, 2015)
NMDC Limited
About the Company
NMDC Ltd (NMDC) was incorporated in 1958 as a public sector company. It is under the Top 500 Ranking
administrative control of Ministry of Steel and has been conferred Navratna status by GoI. NMDC Income 61
is involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate,
lime stone, dolomite, gypsum, tungsten, beach sands, magnesite and diamond amongst others. Net Profit 15
NMDC operates two iron ore mines in Chhattisgarh and one in Karnataka. The companys diamond Networth 24
mining project and sponge iron unit are located in MP and AP respectively. In FY15, NMDC produced
around 30.44 MMT of iron ore, 35,085 carats of diamond and 28,993.9 MT of sponge iron. In May Address
2015, NMDC signed MoU with Govt of Chattisgarh for setting up UMPP in Bastar; slurry pipeline Khanij Bhavan, 10-3-311/A,
and pellet plant and development of railway line from Jagdalpur to Rowghat in Chattisgarh. In Sep Castle Hills, Masab Tank,
2015, NMDC incorporated a wholly owned subsidiary in the name of Jharkhand Kolhan Steel Ltd for Hyderabad - 500028, Telangana
development of steel plant in Jharkhand through SPV. Website: www.nmdc.co.in

146,218.1 65,328.3 322,411.9 99,307.4 67.9 44.7 20.3
(As on Mar 31, 2015)
MOIL Limited
About the Company
MOIL Ltd (MOIL), a Miniratna company, was established in 1896 as Central Province Prospecting Top 500 Ranking
Syndicate. In 1962, the company acquired its present name pursuant to acquisition of majority Income 449
stake by GoI. It is engaged in the exploration, extraction, beneficiation and marketing of manganese
ore and its value added products like Electrolytic Manganese Dioxide (EMD) and ferro manganese Net Profit 145
through underground and opencast mines. It also operates two wind farms of 4.8 MW and 15.2 MW Networth 141
situated at Dewas district in MP. The company is also undertaking various mine expansion project
some of which include sinking of 2nd vertical shaft at Munsar mine at an estimated cost of ` 513.2 Address
mn; expansion of Balaghat mine at an estimated cost of ` 5.5 bn; and deepening of vertical shaft MOIL Bhawan,
at Kandri mine at an estimated cost of ` 148.2 mn. In FY15, the company produced 1.14 MMT of 1A Katol Road,
various grades of manganese ore, 10,045 MT of ferro manganese and 950 MT of EMD. In Mar 2016, Nagpur 440013, Maharashtra
Govt of MP granted mining lease of 48.974 hectare of land in Balaghat district of MP in favour of Website: www.moil.nic.in
MOIL.

11,398.6 4,280.1 33,727.2 6,956.5 61.0 37.5 12.7
(As on Mar 31, 2015)

Non Ferrous &
P r e c i o u s M e ta l s
Non Ferrous &
Precious Metals
Comparative Matrix

Company Name
1 Hindalco Industries Limited@ 354,089.9 15,022.4 372,312.2 4.2 4.0
2 Hindustan Zinc Limited 176,094.4 81,808.1 432,359.5 46.5 18.9
3 National Aluminium Company Limited 80,554.5 11,734.3 126,610.9 14.6 9.3
4 Shirpur Gold Refinery Limited 32,222.1 154.4 2,542.9 0.5 6.1
5 Hindustan Copper Limited 10,824.3 675.8 18,615.3 6.2 3.6

Hindalco Industries Limited
About the Company
Hindalco Industries Ltd (Hindalco), flagship company of the Aditya Birla group, was incorporated Top 500 Ranking
in 1958. In 1962, Hindalco commenced its operation with manufacturing of aluminium metal and Income 32
alumina at Renukoot, UP. In 2000, the company acquired controlling stake in Indian Aluminium
Company Ltd. In 2002, it entered copper business with the amalgamation of Indo Gulf Corporation Net Profit 60
Ltd and Birla Copper. The company operates through 51 units across 13 countries globally. Hindalco Networth 17
primarily operates in two segments: aluminium and copper. Hindalco operates captive in Jharkhand,
Chhattisgarh and Maharashtra. In 2015, Mahan and Aditya Aluminium smelters and Utkal refinery Address
came onstream. In FY15, HIndalco won 4 coal blocks, 2 each in Chhattisgarh and Jharkhand. During Century Bhavan,
FY15, the production of alumina was 2.3 million tonnes registering a growth of 25% as compared 3rd Floor,
to previous year. The production of primary aluminium increased by 36% to 834KT and value added Dr Annie Besant Road Worli,
downstream by 10% to 300 KT as compared to the previous year. Mumbai - 400025 Maharashtra
Website: www.hindalco.com

354,089.9 15,022.4 372,312.2 36,893.2 10.4 4.2 4.0
(As on Mar 31, 2015)
Hindustan Zinc Limited

About the Company
Hindustan Zinc Ltd (Hindustan Zinc), a subsidiary of Sesa Sterlite Ltd was incorporated in 1966. It is Top 500 Ranking
engaged in mining and smelting of non-ferrous metals. The products manufactured by Hindustan Income 57
Zinc include zinc, refined lead, silver and cadmium. The company operates through five zinc lead
mines, four zinc smelters, one lead smelter, one lead zinc smelter, seven sulphuric acid plants, a Net Profit 13
silver refinery plant and five captive power plants in the state of Rajasthan. Hindustan Zinc also Networth 13
operates a rock-phosphate mine in Rajasthan, lead & silver processing and refining facilities in
Uttarakhand and wind power plants in Rajasthan, Gujarat, Karnataka, Maharashtra and TN. In FY15, Address
total refined zinc production stood at 733,803 MT, refined lead production stood at 134,898 MT Yashad Bhawan,
and silver production stood at 368 MT. During the year, Hindustan Zinc commissioned the paste Udaipur - 313004, Rajasthan
fill plant at Rampura Agucha mine and Sindesar Khurd mine. During the year, the company also Website: www.hzlindia.com
commissioned an underground workshop, mobile carrier exploration rig, bulk emulsion charging
system and cubex v-30 machines at Sindesar Khurd mine.

176,094.4 81,808.1 432,359.5 102,143.1 58.0 46.5 18.9
(As on Mar 31, 2015)
National Aluminium Company Limited

About the Company
National Aluminium Co. Ltd (Nalco), established in 1981, is a Navratna Central Public Sector Top 500 Ranking
Enterprise (CPSE) under Ministry of Mines, GoI. The company has integrated and diversified Income 113
operations in mining, metal and power. Some of its offerings include aluminium metal, alumina
& hydrate, zeolite-a, rolled product and special product such as specialty hydrate/alumina. Nalco Net Profit 72
has also ventured into renewable energy sectors. The company has successfully commissioned two Networth 58
wind power plants located at Gandikota, AP and at Jaisalmer, Rajasthan. NALCO has bulk shipment
facilities at Vizag port for export of Alumina/Aluminium and import of caustic soda and also utilises Address
facilities of Kolkata and Paradeep ports. In FY15, Nalcos Alumina Refinery plant at Damanjodi Nalco Bhavan,
produced 1.85 MMT of alumina hydrate. Its wind power plant in Gandikota, AP generated 115 MU Plot No P/1,
of wind energy; while its wind power plant at Jaisalmer, Rajasthan generated 66 MU of wind energy Nayapalli,
during FY15. It exports calcined alumina and primary aluminium to countries in the south east Asia, Bhubaneswar - 751013, Orissa
far east, Indian sub-continent, the gulf, china and the US. Website: www.nalcoindia.com

80,554.5 11,734.3 126,610.9 25,270.8 31.4 14.6 9.3
(As on Mar 31, 2015)

Shirpur Gold Refinery Limited
About the Company
Shirpur Gold Refinery Ltd (SGRL), a part of Essel Group, commenced its commercial operations in Top 500 Ranking
the year 1984. The company is engaged in the business of refining, manufacturing and marketing of Income 226
precious metals. Its product portfolio encompasses gold & silver bars, gold coins and gold jewellery.
The companys green field precious metal refinery, located in Shirpur, Dhule, has a capacity to refine Net Profit 442
217 MTPA of gold and silver respectively. The company markets its products under the brand name Networth 473
Zee Gold. The company has a strong and solid channel partners in UAE and Hong Kong. As on Mar
31 2015, the company had two wholly owned subsidiaries in Dubai and Singapore under the name Address
Shirpur Gold Trading DMCC and Shirpur Gold Mining Company Ltd. In Apr 2015, SGRL incorporated Refinery Site,
a step down subsidiary namely; Precious Metals Mining and Refining Ltd for carrying out mining Shirpur, Dhule - 425405,
and refining of precious metals. In Jan 2016, SGRLs 100% wholly owned Dubai subsidiary, Zee Gold Maharashtra
DMCC commenced its commercial activities of dealing in precious metals. Website: www.shirpurgold.com

32,222.1 154.4 2,542.9 473.3 1.5 0.5 6.1
(As on Mar 31, 2015)
Hindustan Copper Limited

About the Company
Hindustan Copper Limited (Hindustan Copper) was incorporated in 1967. Hindustan Copper is a Top 500 Ranking
public sector company under the administrative control of the Ministry of Mines. The company Income 468
business is classified in exploration, mining of copper and copper ore including beneficiation
of minerals, smelting, refining of copper. It is one of the vertically integrated copper producing Net Profit 346
companies as it manufactures copper right from the stage of mining to beneficiation, smelting, Networth 208
refining and casting of refined copper metal into downstream saleable products. The company also
has a wide range of product portfolio which supplies copper cathodes, copper wire bar, continuous Address
cast copper rod and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate Tamara Bhavan,
and sulphuric acid. In 2015, Hindustan Copper Ltd (HCL) took over the assets of Jhagadia Copper 1 Ashutosh Chowdhury Avenue,
Ltd. During FY 15, the sale of the CCRod segment, which accounted for 77% of the total sales, grew Kolkata - 700 019, WB
by 12%. Website: www.hindustancopper.com

10,824.3 675.8 18,615.3 1,933.1 17.9 6.2 3.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

O il - R efining and
M ar k eting
Oil - Refining and Marketing
Comparative Matrix

Company Name
1 Indian Oil Corporation Limited 4,416,701.8 36,033.2 664,308.0 0.8 5.4
2 Reliance Industries Limited 3,377,970.0 227,190.0 1,707,990.0 6.7 13.3
3 Bharat Petroleum Corporation Limited 2,402,431.5 50,408.0 222,308.3 2.1 22.7
4 Hindustan Petroleum Corporation Limited 2,077,945.9 27,256.5 156,053.9 1.3 17.5
5 Mangalore Refinery And Petrochemicals Limited 582,675.2 (17,462.9) 53,044.2 (3.0) (32.9)

Indian Oil Corporation Limited
About the Company
Indian Oil Corporation Ltd (IOCL), a Maharatna company, was established in 1959 as the Indian Top 500 Ranking
Oil Company. In 1964, the company acquired its present name following its merger with Indian Income 1
Refineries Ltd. IOCLs business operations encompass the entire hydrocarbon value chain - from
refining, pipeline transportation and marketing of petroleum products to exploration and Net Profit 26
production of crude oil and gas as well as marketing of natural gas and petrochemicals. IOCL Networth 6
operates 10 domestic and 7 overseas refineries blocks. The companys has 384 active patents,
inclusive of 233 international patents. During FY15, the company commissioned 947 retail outlets, Address
increasing to total 24,405. IOCLs energy brands include Indane LPG cooking gas, SERVO lubricants, IndianOil Bhavan,
XTRAPREMIUM petrol, XTRAMILE diesel, PROPEL petrochemicals, etc. During FY15, IOCLs refineries G-9, Ali Yavar Jung Marg,
throughput increased from 53.1 MMTPA in FY14 to 53.6 MMTPA in FY15 and pipeline throughput Bandra (East),
from 73.1 MMTPA in FY14 to 75.7 MMTPA in FY15. During FY15, the company has completed the Mumbai - 400051, Maharashtra
installation of of a gas turbine along with heat recovery steam generator at Gujarat Refinery and Website: www.iocl.com
sulphur pelletising units at Panipat Refinery and Mathura Refinery.

4,416,701.8 36,033.2 664,308.0 145,871.0 3.3 0.8 5.4
(As on Mar 31, 2015)
Reliance Industries Limited

About the Company
Reliance Industries Ltd (RIL) is the flagship company of Reliance Group which was incorporated Top 500 Ranking
in 1973. The company is mainly engaged in hydrocarbon exploration and production, petroleum Income 2
refining and marketing, petrochemicals, retail and telecommunications. The company owns and
operates through two refineries with crude processing capacity of 1.24 MMBPD. RIL has 148 major Net Profit 1
products and brands across energy and service sectors. As on Mar 31 2015, the company has 2,621 Networth 1
retail stores across 200 cities with with over 12.5 million square feet of space and 12 conventional
E&P blocks. The companys overall petrochemicals production was 22 MMT in FY15. During FY15, RIL Address
stared new manufacturing facilities in Hazira (poly-butadiene rubber plant and styrene butadiene Maker Chambers - IV, 222,
rubber plant) and Dahej (polyethylene terephthalate plant and purified terepthalic acid plant). The Nariman Point,
During the same year, RIL and Myanma Oil & Gas Enterprise, an enterprise of the Government Mumbai - 400021, Maharashtra
of Myanmar signed a production sharing contract for two offshore blocks (M17 and M18) in the Website: www.ril.com
Tanintharyi basin of Myanmar.

3,377,970.0 227,190.0 1,707,990.0 394,960.0 11.7 6.7 13.3
(As on Mar 31, 2015)
Bharat Petroleum Corporation Limited

About the Company
Bharat Petroleum Corporation Ltd (BPCL) was formed in 1928, as an alliance between Asiatic Top 500 Ranking
Petroleum (India) and Burmah Oil Company. In 1952, the company was incorporated as Burmah Income 3
Shell Refineries Ltd. In 1976, GoI took over the Burmah Shell Group to form Bharat Refineries Ltd
and in the following year renamed it as BPCL. BPCL operations are classified into two segments, Net Profit 20
downstream petroleum business, which is engaged in refining and marketing of petroleum products Networth 38
and exploration and production (E&P) of hydrocarbons. BPCL operates two refineries at Mumbai
and Kochi along with 82 retail (installations/depots/TOPs) 49 LPG bottling plants, four lube blending Address
plants and 30 aviation / fuelling stations/on-wheels. During FY15, BPCLs crude throughput was 1st Floor Bharat Bhavan,
23.36 MMT, as against 23.35 MMT recorded in FY14. The sales has increased from 34 MMT in FY14 P. B. No. 688,
to 34.45 MMT in FY15, registering a growth of 1.32%. 4 & 6 Currimbhoy Road, Ballard Estate,
Website: www.bharatpetroleum.in

2,402,431.5 50,408.0 222,308.3 103,996.0 4.3 2.1 22.7
(As on Mar 31, 2015)

Hindustan Petroleum Corporation Limited
About the Company
Hindustan Petroleum Corporation Ltd (HPCL), a GoI enterprise, was incorporated in 1952 as Top 500 Ranking
Standard Vacuum Refining Company Ltd. In 1974, the company acquired its present name after the Income 4
takeover and merger of erstwhile Esso Standard Refining Company of India Ltd and Lube India Ltd.
The companys major activities include downstream petroleum business and E&P of hydrocarbons. Net Profit 34
It is mainly engaged in the refining and marketing of petroleum products. HPCL operates two Networth 51
refineries in Mumbai and Visakh. During FY15, HPCLs refineries have a combined refining thruput
of 16.18 MMT as compared to 15.51 MMT in FY14. During FY15, the company sold 31.95 MT as Address
against 30.96 MT in FY14. HPCLs pipeline network has a thruput of 14.91 MT during the year. The Petroleum House,
company wide spread operational network encompass 106 regional offices, 35 terminals/ tap off 17, Jamshedji Tata Road,
points, 91 depots, 46 LPG bottling plants, 13409 retail outlets, 35 ASFs, 1638 SKO / LDO dealers and Churchgate,
4133 LPG distributors as on Sep 30, 2016. Mumbai - 400020, Maharashtra
Website: www.hindustanpetroleum.com

2,077,945.9 27,256.5 156,053.9 65,206.1 3.1 1.3 17.5
(As on Mar 31, 2015)
Mangalore Refinery and Petrochemicals Limited

About the Company
Mangalore Refinery and Petrochemicals Ltd (MRPL) was established in 1988 as a JV between Top 500 Ranking
Hindustan Petroleum Corporation Ltd and IRIL & Associates. In 2003, ONGC acquired the total Income 12
shareholding of IRIL & Associates thus making MRPL a majority held subsidiary of ONGC. The
company is a Schedule A Central Public Sector Enterprise (CPSE). It is engaged in the business Net Profit 498
of refining crude oil. MRPL has a design capacity to process 15 mmtpa and has two hydrocrackers Networth 109
producing premium diesel (high cetane). The company also has two CCRs producing unleaded petrol
of high octane. During FY15, the company processed 14.65 MMT crude oil as against 14.55 MMT Address
during the FY14. In Dec 2014, the company has commissioned its first dealer operated Retail Outlet Mudapadav, Kuthethoor,
at Mangalore. The company has successfully commenced commercial production of Polypropylene P.O. Via Katipalla,
from its polypropylene plant as part of its Phase III Refinery expansion and upgradation project Mangalore - 575030, Karnataka
w.e.f. 18th June, 2015. The plant has capacity to produce 4,40,000 TPA Polypropylene. Website: www.mrpl.co.in

582,675.2 (17,462.9) 53,044.2 (12,510.1) (2.1) (3.0) (32.9)
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

O il & G as E x ploration
Oil & Gas Exploration
Comparative Matrix

Company Name
1 Oil and Natural Gas Corporation Limited 882,375.2 177,323.0 1,435,532.6 20.1 12.4
2 Oil India Limited 110,198.6 25,102.0 214,889.5 22.8 11.7
3 Cairn India Limited 88,551.9 35,761.0 351,377.2 40.4 10.2

Oil and Natural Gas Corporation Limited
About the Company
Oil and Natural Gas Corporation Ltd (ONGC) was set up as Oil and Natural Gas Directorate in 1955 Top 500 Ranking
which subsequently became Oil and Natural Gas Commission in the year 1956. In 1994, Oil and Income 6
Natural Gas Commission was converted into a public limited company and subsequently acquired
its current name. ONGC is involved in the E&P business of crude oil and natural gas. ONGC has Net Profit 3
27 seismic crews, manages 250 onshore production installations, 215 offshore installations, 77 Networth 2
drilling (plus 31 hired) and 57 work-over rigs (plus 25 hired), owns and operates more than 28,139
kilometers of pipeline in India, including 4,500 kilometers of sub-sea pipelines. ONGC owns and Address
operates more than 26,600 kilometers of pipelines in India, including sub-sea pipelines. During Tower-2,
FY15, the domestic production of crude oil increased from 22.25 MMT in FY14 to 22.65 MMT in Jeevan Bharati, 124,
FY15. In 2016, ONGC Videsh Ltd (100% subsidiary of ONGC) signed definitive agreements to acquire Indira Chowk,
up to 15% shares in CSJC Vankorneft. New Delhi - 110001, Delhi
Website: www.ongcindia.com

882,375.2 177,323.0 1,435,532.6 380,163.4 43.1 20.1 12.4
(As on Mar 31, 2015)
Oil India Limited

About the Company
Oil India Ltd (OIL), a Navratna company was incorporated as Oil India Pvt Ltd in 1959 as Oil India Top 500 Ranking
Pvt Ltd. In 1961, it became a JV between GoI and Burmah Oil Company Ltd, UK. Further, in 1981, Income 82
OIL became a wholly-owned GoI enterprise. OIL is engaged in the business of exploration and
production of crude oil, natural gas and LPG. The company also operates a network of 1,220 kms Net Profit 38
of crude oil pipelines which can transport over 5.38 MTPA of crude oil. In FY15, OIL produced 3.44 Networth 39
MMT of crude oil, 2,722 MMSCM of natural gas and 43,750 MT of LPG. In FY15, OIL commissioned
third wind energy project of 54 MW comprising 16 MW project in Gujarat and 38 MW project in MP Address
taking the total renewable energy capacity to 126.6 MW. During the year, the company made 12 P. O. Duliajan,
oil & gas discoveries with 11 discoveries in upper Assam basin. In Dec 2015, OIL entered into MoU Dibrugarh - 786602,
with Rosneft, Russia to undertake joint exploration and production of hydrocarbons onshore in the Assam
Russian federation. Website: www.oil-india.com

110,198.6 25,102.0 214,889.5 47,661.0 43.3 22.8 11.7
(As on Mar 31, 2015)
Cairn India Limited

About the Company
Cairn India Ltd (Cairn) was incorporated in the year 2006 as an independent oil and gas exploration Top 500 Ranking
and production company. The company is engaged in the business of surveying, prospecting, Income 105
drilling, exploring, acquiring, developing, producing, maintaining, refining, storing, trading,
supplying, transporting, marketing, distributing, importing, exporting and dealing in minerals, oils, Net Profit 27
petroleum, gas and related by-products. Cairn is a participant in various oil and gas blocks/fields, Networth 20
which are in the nature of jointly controlled assets, granted by the GoI through production sharing
contracts entered between the company and GoI and other venture partners. The company has Address
interest in seven blocks in India and through its wholly owned subsidary one each in Sri Lanka and 101, First Floor,
South Africa. The customers of the companys natural gas include GAIL, GNVFC, GGCL and CLPIPL C Wing, Business Square,
while its crude oil customers include both public and private refineries like IOCL, HPCL, CPCL, Essar Kurla Road, Andheri (E),
Oil and Reliance India Ltd. In FY15, the average daily gross operated production of the company Mumbai - 400059, Maharashtra
stood at 211,671 boepd. Website: www.cairnindia.com

88,551.9 35,761.0 351,377.2 29,391.8 33.2 40.4 10.2
(As on Mar 31, 2015)

P ac k aging and
Allied Activities
Packaging and Allied Activities
Comparative Matrix

Company Name
1 Uflex Limited 33,884.6 1,419.8 16,781.2 4.2 8.4
2 Jindal Poly Films Limited 25,435.1 1,562.4 14,576.6 6.1 10.7
3 Cosmo Films Limited 14,824.5 496.1 4,062.5 3.3 12.2
4 Time Technoplast Limited 13,443.3 700.7 8,239.2 5.2 8.5
5 Huhtamaki PPL Limited 11,444.4 646.2 5,571.8 5.6 11.6
6 Polyplex Corporation Limited 10,695.0 199.4 4,132.3 1.9 4.8
7 Flexituff International Limited 10,571.6 197.6 3,525.2 1.9 5.6

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 218
Net Profit 259
Uflex Limited Net Worth 221
Ashok Chaturvedi, Chairman and Managing Director
Mr. Chaturvedis views:

Packaging is one of the most important components of a product that forms the first impression in the minds of the consumers, ultimately translating
into an informed choice. From merely wrapping a product as it used to be perceived in the past, packaging has evolved to encompass a much bigger
role to enhance the overall experience of the consumer. A lot vests on the shoulders of packaging in the contemporary times. From enhancing
aesthetics for making the product more visually appealing to offering the optimized barrier properties to keep the product safe and fresh, to offering
excellent functionalities to re-seal or lock the pack for a deferred use, an efficient package does it all effortlessly. The packaging besides showing the
essential information about the product also needs to be anti-counterfeiting proof to keep look-alikes at bay from eroding the brand equity. Modern
consumer is more conscientious than ever, therefore the packaging should also qualify as ecofriendly and sustainable. All these features have made
packaging truly a Science besides being an Art of sorts. The Indian flexible packaging industry has been growing at the rate 15-17 % annually over
the past five years and shall continue to do so. Globally the industry is growing at 4.5-5% annually. The opportunities therefore are manifold. With
the aseptic packaging plant for packing liquids that will be commercially operational in early 2017 at Sanand, Gujarat, resonating with Governments
Make in India scheme, we will complete the entire bouquet of our product offering which currently spans across flexible packaging solutions for
solids, semi-solids, viscous fluids, pastes, gels, powders and granular material. The business model of Uflex firmly rests on four pillars; Innovation
to create value added differentiation; proximity to customers globally; full integration with the ability to offer complete range of flexible packaging
solutions and an enviable speed to market reach. We are confident of doubling our revenue to USD 2 billion in the next 4-5 years.
Company Overview Financial Snapshot (In ` mn)

Uflex Ltd (Uflex) is amongst the fastest growing flexible packaging companies with large Total Income 33,884.6
manufacturing capacities of packaging film and value added packaging products. Since
its inception in 1983, Uflex has grown strength to strength offering end to end flexible Net Profit 1,419.8
packaging solutions to clients in over 140 countries across the globe. Uflex today has Networth 16,781.2
state-of-the-art packaging facilities at multiple locations in India with installed capacity EBIDTA 4,306.7
of around 100,000 TPA and has packaging film manufacturing facilities in India, UAE,
Ratios (%)
Mexico Egypt, Poland and USA with cumulative installed capacity in excess of 337,000
TPA. All Uflex plants are accredited with ISO 9001, 14001, HACCP & BRC certifications. EBIDTA Margin 12.7
Uflex caters to markets spanning across the globe in countries like USA, Canada, South NPM 4.2
American countries, UK and other European Countries, Russia, South Africa, CIS, Asian
RONW 8.4
and African nations. Integrated within its core business profile are allied businesses like
(As on Mar 31, 2015)
engineering, cylinders, holography and chemicals which further give Uflex a superior
edge above competition. Management Details
Chairman and Managing Director
Product Offerings Ashok Chaturvedi
Uflex offers technologically superior end to end packaging solutions for a wide variety Executive Director
of products such as snack foods, candy and confectionery, sugar, rice & other cereals, A Ray
beverages, tea & coffee, dessert mixes, noodles, wheat flour, soaps and detergents, Directors
shampoos & conditioners, vegetable oil, spices, marinades & pastes, cheese & dairy MG Gupta
products, frozen food, sea food, meat, anti-fog, pet food, pharmaceuticals, contraceptives, A Karati
garden fertilizers and plant nutrients, motor oil and lubricants, automotive and TSS Bhattacharya
I Liberhan
engineering components etc.
VK Gupta
More specifically the fully integrated flexible packaging solutions approach of Uflex Address & Website
stems from the best in class contemporary technology and some of the sharpest minds 305, 3rd Floor,
across its businesses comprising: Bhanot Corner,
Pamposh Enclave,
1. Packaging Films: Producing BOPP, BOPET, CPP, Metalized films and other specialized Greater Kailash I,
films. The company also produces PET chips i.e. the raw material for producing New Delhi 110048,
Polyester Films. Delhi
2. Packaging Products: Producing flexible packaging laminates (in roll form); Website
www.uflexltd.com
prefabricated pouches, flexi-tubes (laminated) and big bags.
3. Engineering: Producing a wide range of flexible packaging converting machines
and packaging machines.
4. Cylinders: Producing rotogravure printing cylinders; flexo-polymer plates;
elastomers & sleeves.

5. Holography: Producing anti-counterfeiting & brand protection solutions that prevent look-alikes/ body doubles which erode the
brand equity of the clients.
6. Chemicals: Producing inks, adhesives, coatings and polyols that are used in printing and lamination processes.
Few of the key clients of the company include P&G, PepsiCo; Tata Global; Mondelez, L Oreal, Britannia, Haldiram, Amul, Kimberly
Clark, Ferro Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca Cola, Wrigley, Johnson & Johnson among others
Manufacturing Facilities
Uflex is headquartered in Noida and operates state of the art packaging film and value added packaging products manufacturing
facilities at multiple locations in (Noida, Jammu and Malanpur) India, UAE, Mexico, Poland, Egypt and USA having a cumulative installed
capacity in excess of 437,000 TPA. As on Mar 31, 2015, Uflex had 14 packaging film manufacturing lines at strategic locations across the
globe that enable the flexible packaging major to cater to global markets spanning USA, Canada, South America, UK, Europe, Russia,
CIS countries, South Africa and other African countries, Middle East and the South Asian countries. Uflexs facilities are accredited with
ISO 9001, ISO 14001 and HACCP accreditations; while its products are approved by FDA and BGA.
Additionally, the company is in the process of setting up at Sanand, Gujarat first of its kind Aseptic Packaging Plant for packing liquid
products, which is expected to be commercially operational by April 2017. The capacity of this plant will be 7 billion packs p.a.
Global Strategies
With a view to expand customer base globally, Uflex is increasingly tapping more global markets which will help serve customers with
better & quick deliveries as well as with reduced shipping times. Presently, enjoying market presence in more than 140 countries,
the company is fast expanding and aims to add more countries in the near future. This stems from companys strategy of maintaining
proximity with customers and its ability to process any quantum of order yet ensuring timely deliveries. Uflex is also credited for its
speed to market reach backed by continuous innovation to create value added differentiation for its clients. In FY15, the FOB value of
companys export from India stood at ` 5.12 bn excluding revenues from its overseas plants. During the same period, the international
operations and transactions of the company accounted for 54% of its total revenue.
Innovation @ Uflex
Innovation to create value added differentiation is the prime mover at Uflex. Some of the prominent innovations of FY16 were
Cast n Cure Lens for offering protection to prominent beverage brands; development of fresnel lens as brand protection and anti-
counterfeiting measures to keep spurious and look-alikes at bay. A thinner transparent polyester film was also developed. A two
substrate laminate of this film offers a cost effective food packaging solution with better shelf life. In FY16, Ulfex launched an innovative
solution namely; Flexfresh - Equilibrium Modified Atmospheric Packaging (EMAP). This solution caters to the fresh produce industry
and aims at increasing the shelf life of the produce by maintaining consistent level of oxygen and carbon dioxide inside the bag. The
product presently offered as Flexfresh is currently available as Liner Bags in 5kg and 10Kg standard international sizes, flow wraps,
FFS Film and Lidding film. Uflex is currently working on a retail pack film to offer it for FFS for both cut and whole products.
Financial Performance of the company

On standalone basis (` mn) As on Mar 31, 2015
Total Income 33,884.6 Net Profit 1,419.8 Net Worth 16,781.2 EBIDTA 4,306.7
EBIDTA Margin 12.7 % NPM 4.2 % RONW 8.4 %
Dubai Mexico Egypt
USA Poland
Uflex plants at overseas locations

Jindal Poly Films Limited
About the Company
Jindal Poly Films Ltd (JPFL), part of B C Jindal group, was incorporated in 1985. In 1996, JPFL started Top 500 Ranking
BOPET film production. In 2003, JPFL commenced production of BOPP and metallised film. JPFL Income 265
operates in three segments namely flexible packaging film, BOPET film and BOPP films. The company
produces high performance polyester and BOPP plain and metallized films mainly used for flexible Net Profit 241
packaging industry. JPFLs manufacturing unit is situated in Nashik, Maharashtra. The company has Networth 234
a manufacturing capacity of 127,000 TPA of BOPET film; 210,000 TPA of BOPP films; 4500 TPA of
PVDC, Acrylic and LTS coated films; and 176,400 TPA of polyester chips. Address
19th K M,
Hapur Bulandshahr Road,
Bulandshahr - 245408, UP
Website: www.jindalgroup.com

25,435.1 1,562.4 14,576.6 3,132.0 12.3 6.1 10.7
(As on Mar 31, 2015)
Cosmo Films Limited

About the Company
Cosmo Films Ltd (Cosmo Films) commenced its operations in 1981. In 2002, the company acquired Top 500 Ranking
Gujarat Propack Ltd. In 2009, the company acquired GBCs commercial print finishing business from Income 382
ACCO Brands Corporation, US. The company is in the business of manufacturing of flexible packaging
films. Cosmos Films major products comprises of BOPP Films and Thermal Films. It offers BOPP Films Net Profit 370
for flexible packaging, lamination, labelling and industrial applications, including speciality films Networth 419
such as high barrier films, velvet thermal lamination films and direct thermal printable films. The
company has four plants located at Aurangabad and one plant at Vadodara in India. The company Address
also has manufacturing units as well as distribution channel in US and South Korea with global 1008, DLF Tower-A,
channel partners in more than fifty countries. In FY15, the company had a BOPP manufacturing Jasola District Centre,
capacity of 136,000 TPA. In Mar 2016, it amalgamated its step-down wholly owned subsidiary; CF New Delhi - 110025, Delhi
(Mauritius) Holding Ltd with CF Global Holdings Ltd, Mauritius, its wholly owned subsidiary. Website: www.cosmofilms.com

14,824.5 496.1 4,062.5 1,107.0 7.5 3.3 12.2
(As on Mar 31, 2015)
Time Technoplast Limited

About the Company
Time Technoplast Ltd (Time Tech) was incorporated in 1992. In 1998, the company ventured into Top 500 Ranking
lifestyle products and in 2010 it acquired composite gas cylinder business in Czech Republic. Income 415
Time Tech is involved in the manufacturing of polymer products under various segments such as
industrial packaging, lifestyle products, automotive components, infrastructure & construction Net Profit 340
related products, healthcare products, material handling solutions and composite cylinders. The Networth 327
product portfolio of company includes PE drums, dumpo bins, plastic fuel tank, air duct and PET
sheets amongst others. Some of the brands under which Time Tech markets its products include Address
Techpack, DuroSoft, MaxLife, DuroWipe, AstroTurf, Rainflaps, Meadowz and Genex amongst others. Office No.213,
The company has 16 manufacturing units in India and 12 in countries like Bahrain, China, Egypt, Sabari Apartment,
Indonesia, Malaysia, Romania, U.A.E., Taiwan, Thailand, Vietnam and Poland. The company has a Kachigam,
dealer network in more than 345 cities or towns across India. Daman - 396210, Daman & Diu
Website: www.timetechnoplast.com

13,443.3 700.7 8,239.2 2,010.2 15.0 5.2 8.5
(As on Mar 31, 2015)

Huhtamaki PPL Limited
About the Company
Huhtamaki PPL Ltd (HPPL), a part of Huhtamaki Oyj, Finland was incorporated in 1935 as The Paper Top 500 Ranking
Products Ltd. The company acquired its present name in 2014. HPPL offers a wide portfolio of Income 448
packaging solutions that includes flexible packaging, pouching solutions, thermoforms, labelling
technologies, shrink sleeve solution, specialized cartons, cylinder engraving and specialised films Net Profit 349
for high barrier. In addition the companys packaging machine division also provides end to end Networth 384
solution for total packaging. HPPL caters to the packaging solution and material need of various
sectors including food and beverages, tube laminate, personal, oral & healthcare, pharmaceuticals, Address
automotive & industrial, agro-chemicals & seeds and other non-food sectors. The company 12A-06, 13th Floor,
operates 13 manufacturing facilities located in the states of Maharashtra, HP, Telangana, Karnataka, Parinee Crescenzo,
Uttarakhanad and D&NH. The company clientele includes well known brands like Nestle, Cadbury, C-38/39, G-Block, BKC, Bandra (E),
Unilever, Marico, Coca Cola, Pepsico, Glaxo Smithkline, and P&G. In Jan 2015, HPPL completed Mumbai - 400051, Maharashtra
acquisition of Positive Packaging Industries Ltd, India making it a wholly owned subsidiary. Website: www.pplpack.com

11,444.4 646.2 5,571.8 1,171.2 10.2 5.6 11.6
(As on Dec 31, 2014)
Polyplex Corporation Limited

About the Company
Polyplex Corporation Ltd (Polyplex) was incorporated in 1984. Polyplex is one of the leading Top 500 Ranking
integrated producers of thin Polyester (PET) films in India and globally. The company also provides Income 473
other substrates such as BOPP, CPP and blown PP/PE used in the flexible packaging industry.
The company has also ventured into thick PET film segment suitable for industrial applications Net Profit 431
including imaging & graphics, photovoltaics and flat panel display. Further, Polyplex also undertakes Networth 415
downstream businesses like metallizing, silicone coating, extrusion coating, blown polypropylene
(PP) /polyethylene (PE) and offline chemical coating. The company operates two polyester chips Address
and film manufacturing facilities located at Uttarakhand. Polyplex has distribution operation in six Lohia Head Road,
countries viz. India, Thailand, Turkey, US, China and Netherlands long with warehouses in Poland, Dist. Udham Singh Nagar,
Spain, Germany, Italy and Mexico. In FY15, the company produced 211,000 MT of PET/OPP/CPP/ Khatima - 262308, Uttarakhand
blown PP films with a capacity utilization of 79%. During the year, Polyplex diversified into offline Website: www.polyplex.com
coated films offering transparent barrier films, low emissivity films, yarn grade films and peelable
sealable films.

10,695.0 199.4 4,132.3 1,130.7 10.6 1.9 4.8
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 476
Flexituff International Net Profit 432
Mahesh Sharma, CEO

Flexituff International Limited (Flexituff) was incorporated in 1993 and in year 2003 it Total Income 10,571.6
acquired its present name and converted into a public limited company. Flexituff is a
leading Indian multi-national engaged in manufacture and export of Technical Textile Net Profit 197.6
products serving the domain needs of Retail, Industrial, Agro and Infrastructure Sectors Networth 3,525.2
having 4 plants in India and two wholly-owned subsidiaries in U.K. and USA, employing EBIDTA 1,111.1
over 7000 people and turning over a business of about USD 200 million per year with
Ratios (%)
exports to five continents and 55 countries.
EBIDTA Margin 10.5
Offerings NPM 1.9
Being 100% vertically-integrated company engaged in woven, non-woven and RONW 5.6
composite fabrics Flexituff serves the needs of following segments :- (As on Mar 31, 2015)
1. PackTech : FIBCs, reverse-printed woven BOPP bags and Container Liners to safely Management Details
pack and carry 5 kg to 40,000 kg bulk and powdery material.
Chairman
2. GeoTech : Woven, non-woven and composite textile products like Geo-Tube, Anirudh Sonpal
Three-dimensional Geo-Matt, Geo-Bags, GRW barriers etc for flood protection, CEO
embankments, roads & runways, River Training, Erosion Control. Mahesh Sharma
Directors
3. HomeTech : Non-woven carpets for homes, hotels, exhibitions, Leather substrate Saurabh Kalani
for home furniture. Sharat Anand
Kevan John Upperdine
4. BuildTech : House-wraps, Roof underlay and Asphalt intermediate fabrics.
D.K. Sharma
5. MobilTech : Automotive head liner fabric and floor coverings. Vishwarupe Narain
Ritesh Pandey
6. InduTech : Filter fabric for cement and power plants. Alka Sagar
7. AgroTech : Silt fence, ground covers.
Milestones
Worlds largest FIBC Clean-room Manufacturing Facility.

Recipient of Indias Highest Export Award for FIBCs conferred by PLEXCONCIL,
Government of India for past 10 years in a row.
Indias largest producer of Geo-Textiles and Injection-moulded Drippers for drip
irrigation.
Coveted Accreditations and Certifications : ISO-9001, ISO-14001, ISO-14644, ISO- Address & Website
22000, USFDA-AIB, BRC/IoP UK, CE Europe. C41-50, Special Economic Zone,
Sector No.3,
Industrys largest R&D centre with several patents and proprietary Technology PITHAMPUR 454 775
Solutions to its credit. Dist. Dhar (MP)
Tel : +91 7292 420200 /
The Road Ahead +91 7292 401681 to 83
Fax : +91 7292 401684
Flexituff is a multi-product, multi-market, multi-location company with four manufacturing
e-Mail : [email protected]
plants at Pithampur and Barwah in Madhya Pradesh and Kashipur in Uttarakhand. URL : www.flexituff.com
Processing over 70,000 metric tonne polymer per year and exporting its products to over
55 countries, Flexituff in recent years have focused on catering to Indias burgeoning
infrastructural demand through its niche Geo-synthetics products and solutions. Having
received and executed several world-bank (ADB) Tenders for design, supply and execution
of Geo-synthetics products for infra-projects, Flexituff aims at being a one-stop shop,
offering end-to-end solutions, undertaking supply and commissioning Geo-infra Projects
in India and neighbouring countries.

Pa i n t s
Paints
Comparative Matrix

Company Name
1 Asian Paints Limited 118,356.5 13,409.3 41,511.9 11.3 32.3
2 Berger Paints India Limited 38,407.0 2,660.3 12,778.5 6.9 20.8
3 Kansai Nerolac Paints Limited 35,708.5 2,716.7 15,943.8 7.6 17.0
4 Akzo Nobel India Limited 25,920.0 1,836.0 9,184.0 7.1 20.0

Asian Paints Limited
About the Company
Asian Paints Ltd (Asian Paints), established in 1942 is engaged in manufacturing of wide range of Top 500 Ranking
paints for decorative and industrial use. In decorative paints, the company operates in four segments Income 76
viz. Interior paints, exterior paints, enamels and wood finishes. Asian Paints has also introduced
innovative concepts in the paints industry like colour woods, home solutions, kids worlds and colour Net Profit 64
next to name some. The company operates in 19 countries with 26 manufacturing facilities serving Networth 128
consumers in 65 countries across the globe. Asian Paints operates over 200 Colour Ideas Stores
which benefitted over 125,000 customers during the year FY15. In FY15, Asian Paints launched Address
several new products such as Royale Water based Enamel, Royale Matt, 2X Primer cum putty, 6A, Shantinagar,
Primero primer-cum-sealer, Asian Filling putty and Apex Matt amongst others. In FY15, Asian Paints Santacruz (E),
entered into MoU with Govt of AP to set up paints and intermediates manufacturing facility at Pudi Mumbai - 400055, Maharashtra
village in AP with a total investment of around ` 17.5 bn. Website: www.asianpaints.com

118,356.5 13,409.3 41,511.9 21,838.1 18.5 11.3 32.3
(As on Mar 31, 2015)
Berger Paints India Limited

About the Company
Berger Paints India Ltd (Berger) was incorporated in 1923 as Hadfileds (India) Ltd and acquired its Top 500 Ranking
present name in 1983. Berger is engaged in manufacturing of decorative & industrial paints. Under Income 199
decorative paints, the company offers higher end acrylic exterior and interior emulsions, medium
range exterior and interior emulsions and enamel paints, low end distempers, wall putty, primers Net Profit 191
and thinners and wood coatings; while the industrial paint segment encompass automotive, general Networth 264
industrial, protective coatings and powder coatings. The company operates plants across Howrah,
Puducherry, Jammu, Goa, Jejuri, Surajpur, Sikandrabad, Hindupur and Hooghly. In FY15, the company Address
launched Express Painting, a hassle free, fast and clean solutions for pinting of houses. During the Berger House,
year, Berger signed MoU with the Government of Stavropol Region, Russian Federation for setting 129, Park Street,
up an industrial coating facility at Stavropol region in Russia. In FY15, the company commissioned Kolkata - 700017, WB
fully automated water based plant at Hindupur in AP and powder coatings plant at Jejuri. In May Website: www.bergerpaints.com
2015, Berger commenced commercial production at the powder coating plant in Maharashtra.

38,407.0 2,660.3 12,778.5 5,080.0 13.2 6.9 20.8
(As on Mar 31, 2015)
Kansai Nerolac Paints Limited

About the Company
Kansai Nerolac Paints Ltd (KNPL) was incorporated in 1920 as Gahagan Paints and Varnish Co Ltd Top 500 Ranking
and acquired its present name in 2006. KNPL is a subsidiary of Kansai Paint Co. Ltd., Japan. KNPL Income 214
has a diversified product portfolio across segments in the decorative, automotive, auto refinish,
performance coating and power coating business. KNPL operates through a network of 94 depots Net Profit 188
and four manufacturing facilities at Lote in Maharashtra, Bawal in Haryana, Jainpur in UP and Networth 225
Hosur in TN. The company also entered into technical assistance agreement with Protech Chemicals
Ltd of Canada for manufacturing powder coating products and with Oshima Kogyo Co Ltd, Japan Address
for heat resistant coatings. The company has international operations in Nepal through its JV with Nerolac House,
Kansai Nepal. In FY15, KNPL entered into a JV agreement with Capital Holdings Maharaja Pvt Ltd Ganpatrao Kadam Marg,
to incorporate a JV in Srilanka. During the year, KNPL launched two new paints namely Excel Rain Lower Parel,
Guard and Statue Paint. The company also launched a new range of economy PU paints under the Mumbai - 400013, Maharashtra
brand name Perfect Match. Website: www.nerolac.com

35,708.5 2,716.7 15,943.8 4,666.1 13.1 7.6 17.0
(As on Mar 31, 2015)

Akzo Nobel India Limited
About the Company
Akzo Nobel India Ltd (Akzo Nobel India) was incorporated as Indian Explosives Ltd in WB, co- Top 500 Ranking
promoted by the Government of India and Imperial Chemical Industries PLC, UK (ICI) in 1954. In Income 259
2003, the Government of Indias holding in the company was nil. In 2008, the company became the
part of Akzo Nobel NV, due to the acquisition of ICI. Subsequently, the company acquired its present Net Profit 225
name in 2010. It manufactures and markets a wide range of coatings covering decorative paints, Networth 308
performance coatings and specialty chemicals. Akzo Nobel India has six manufacturing units, more
than 75 warehouses and more than 9,000 dealers/partners across India. The companys brands Address
include Dulux, Sikkens, International and Interpon The company provides solutions to various 8-B, 1st Floor,
sectors, including automotive, consumer electronics, power, aviation, shipping and leisure craft, Geetanjali Apartment,
construction, oil and gas, water and waste water treatment, food and beverages, among others. Middleton Street,
Kolkata - 700071, WB
Website: www.akzonobel.co.in

25,920.0 1,836.0 9,184.0 3,291.0 12.7 7.1 20.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Pa p e r & Pa p e r P r o d u c t s
Paper & Paper Products
Comparative Matrix

Company Name
1 JK Paper Limited 21,709.8 (127.4) 7,403.6 (0.6) (1.7)
2 Tamil Nadu Newsprint and Papers Limited 21,523.7 1,667.3 11,963.3 7.7 13.9
3 The West Coast Paper Mills Limited* 16,514.4 527.2 5,975.9 3.2 8.8
4 Seshasayee Paper and Boards Limited 10,199.7 205.6 3,917.2 2.0 5.2

JK Paper Limited
About the Company
JK Paper Ltd (JK Paper), a JK group company, was incorporated in 1960, as Central Pulp Mills Ltd. Top 500 Ranking
JK papers operation predominantly relates to manufacturing of paper and board. The company Income 299
offers products for office documentation, uncoated and coated - paper and board, packaging board
and stationery products. The company has two manufacturing units, each in Odisha and Gujarat Net Profit 471
with a combined capacity of 455,000 TPA. JK Paper has a distribution network of 188 wholesalers, Networth 349
10 depots and covering around 4,000 dealers. The company exports to more than 40 countries
including Sri Lanka, Bangladesh, Middle East, Africa, America, etc. JK Cedar, JK Copier, JK Easy Copier, Address
JK Copier Plus, JK TuffCote, JK Ledger, JK SHB, JK Evervite, JK Finesse, Cedar digita, etc are some of P.O. Central Pulp Mills,
the companys brand. During FY15, the capacity utilisation was over 90%. In FY15, the company Fort Songarh,
commissioned integrated paper and pulp plant at JKPM unit, Odisha. Dist. Tapi - 394660, Gujarat
Website: www.jkpaper.com

21,709.8 (127.4) 7,403.6 2,547.5 11.7 (0.6) (1.7)
(As on Mar 31, 2015)
Tamil Nadu Newsprint and Papers Limited

About the Company
Tamil Nadu Newsprint and Papers Ltd (TNPL) was established by the Govt of Tamil Nadu to produce Top 500 Ranking
newsprint, printing and writing paper using bagasse, a sugarcane residue, as primary raw material. Income 301
The company commenced production in 1984 with an initial capacity of 90,000 TPA. TNPL operates
in two business segments namely paper, cement and energy. The company manufactures rinting Net Profit 233
and Writing Papers in substances ranging from 50 GSM to 110 GSM.TNPL has four power boilers Networth 278
and four turbo generators with a total power generation capacity of 103.62 MW. During FY15, the
production of paper decreased from 387,714 MT in FY14 to 373259 MT whereas the production Address
of de-inked pulp increased to 32792 Mts. against 29185 Mts in FY14. The cement production of 67, Mount Road,
the company increased to 161910 tons in FY15 against 113904 tons in FY14. During FY15, TNPL Guindy,
launched a new Eco-friendly product during the year 2015 under the brand name GreenPal. Chennai - 600032, TN
Website: www.tnpl.com

21,523.7 1,667.3 11,963.3 5,223.6 24.3 7.7 13.9
(As on Mar 31, 2015)
The West Coast Paper Mills Limited

About the Company
The West Coast Paper Mills Ltd (WCPM) was established in 1955. The company is primarily Top 500 Ranking
engaged in manufacturing and sale of paper and duplex boards. WCPM operates through two Income 358
divisions namely paper & duplex board and telecom cable division. The paper & duplex board
division provides premium grades of paper and boards across six different product segments Net Profit 366
namely writing, printing, business stationery, speciality, industrial and packaging. WCPMs paper Networth 370
& paperboard plant and telecommunication cables plant are located in Karnataka. The company
also has wind mills with 1.75 MW capacities in TN for power generation. WCPM has a strong pan- Address
India distribution network with over 88 dealers across the country and exports to over 25 countries P.B. No. 5,
across Asia Pacific, Middle East, the Mediterranean and the African sub-continents. In FY15, the Bangur Nagar,
company produced 300,514 MT and sold 302,978 MT of paper, paperboard and hardwood pulp. Dandeli,
During the year, WCPM produced 30,438 km and sold 30,368 km of optical fibre cable. Further, the Uttar Kannada - 581325, Karnataka
company exported 733 km of optical fibre cable and 5,348 MT of paper, paperboard and hardwood Website: www.westcoastpaper.com
pulp in FY15.

16,514.4 527.2 5,975.9 1,906.4 11.5 3.2 8.8
(As on Mar 31, 2015)

Seshasayee Paper and Boards Limited
About the Company
Seshasayee Paper and Boards Ltd (SPB) was promoted in 1960 by Seshasayee Brothers (Pvt) Ltd Top 500 Ranking
in association with foreign collaborators Parsons and Whittemore, South East Asia Inc., USA. SPB Income 484
is a flagship company of Esvin Group. The company has been accorded with the status of Golden
Export House. The company is engaged in manufacturing wide range of printing, writing, packaging, Net Profit 428
wrapping, kraft, poster and speciality papers from its manufacturing units at Erode and Tirunelveli. Networth 422
The product range includes color printing paper, creamlaid, copier, woodfree paper, book printing
paper, pulp board, bristal paper, plain kraft, ribbed craft, railway water mark paper, wrapper, base Address
paper and maplitha paper amongst others. SPB market its products under the brands Sprint, Colour Pallipalayam,
Sprint, Index, SprintPlus and Success amongst others. In FY15, the company produced 177,904 MT Cauvery R S P O,
and sold 177,150 MT of paper and boards as compared to 178,272 MT and 177,917 MT in the Erode - 638007, TN
previous year. During the year, the company exported 25,008 MT of paper accounting for 14.4% of Website: www.spbltd.com
total production.

10,199.7 205.6 3,917.2 913.0 9.0 2.0 5.2
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

P e t r o c h e m i c a l s a nd
P o ly m e r s
Petrochemicals and Polymers
Comparative Matrix

Company Name
1 JBF Industries Limited 41,833.1 1,394.4 10,993.9 3.3 12.7
2 Dhunseri Petrochem Limited 28,127.6 377.2 5,724.0 1.3 6.6
3 Supreme Petrochem Limited 26,557.3 356.2 3,746.9 1.3 9.5

JBF Industries Limited
About the Company
JBF Industries Ltd (JBF Industries) was incorporated in 1982 as a yarn texturising company, and Top 500 Ranking
gradually diversified through backward integrated into manufacturing partially oriented yarn (POY), Income 189
polyester (BOPET) film and also various types of bottle grade, film grade and textile grade polyester
chips. The product portfolio of JBF Industries include raw white semi dull round POY, semi dull fully Net Profit 261
draw yarn, sewing thread yarn, super bright trilobal fully draw yarn and dope dyed black round Networth 286
POY amongst others. JBF Industries operates plants at Gujarat and Silvassa with an aggregate chips
capacity of 608,000 MTPA, polyester yarn capacity of 262,000 MMTPA and texturized yarn capacity Address
of 90,000 MTPA. In FY15, JBF Industries produced 466,178 MT of polyester chip, 273,932 MT of POY Survey No. 273,
and 62,577 MT of polyester processed yarn. During the year, the company commissioned project Village Athola,
at Geel, Belgium for production of 390,000 MTPA of PET with an investment of US$ 200 mn and Silvassa - 396230, D & NH
polyester film plant at Bahrain with total capacity of 90,000 MTPA with an investment of US$ 225 Website: www.jbfindia.com
mn.

41,833.1 1,394.4 10,993.9 4,239.3 10.1 3.3 12.7
(As on Mar 31, 2015)
Dhunseri Petrochem Limited

About the Company
Dhunseri Petrochem Ltd (DPL), formerly known as Dhunseri Petrochem & Tea Ltd was formed in Top 500 Ranking
2009 by amalgamation of South Asian Petrochem Ltd and Dhunseri Tea & Industries Ltd. In Sep 2014, Income 247
DPL acquired its present name with the demerger of its tea division to Dhunseri Tea & Industries Ltd
and re-organisation of its IT SEZ division to Dhunseri Infrastructure Ltd. DPL is primarily engaged in Net Profit 392
manufacturing and marketing of polyethylene terephthalate (PET) resins under brand ASPET which Networth 378
finds application in packaging of drinking water, edible oil, pharmaceuticals, dairy products and
carbonated soft drinks among others. DPL operates two PET resin plants in Haldia with an aggregate Address
installed capacity of 410,000 TPA. DPL markets its products in around 55 countries across North Dhunseri House, 4A,
America, South America, Asia, Africa and Europe. In FY15, DPL produced 349,263 MT of PET resin Woodburn Park,
and sold 348,405 MT of PET resin achieving a capacity utilization of 85%. In Feb 2016, DPL entered Kolkata - 700020, WB
into an agreement to acquire 50% stake in Micro Polypet Pvt Ltd from IndoramaVentures Global Website: www.aspetindia.com
Services Ltd.

28,127.6 377.2 5,724.0 1,460.5 5.2 1.3 6.6
(As on Mar 31, 2015)
Supreme Petrochem Limited

About the Company
Supreme Petrochem Ltd (Supreme Petrochem) was incorporated in 1989 as a JV between The Top 500 Ranking
Supreme Industries Ltd and Rajan Raheja group. Supreme Petrochem manufacures polystyrene (PS), Income 256
expandable polystyrene (EPS),specialty polymers and compounds (SPC) and extruded polystyrene
foam boards (XPS). The company operates through two manufacturing units located at Amdoshi Net Profit 396
Wangani in Maharashtra and New Manali Town in TN. Supreme Petrochem has a installed capacity Networth 428
of 272,00 TPA of polystyrene; 72,200 TPA of EPS; 33,500 TPA of SPC and 10,000 cubic meters per
month of XPS. The company is ISO 9001, ISO 14001, ISO TS16949 and OHSAS 18001:2007 certified. Address
In Jan 2016, the Board of Directors of the Company approved the modification of one of the three Solitaire Corporate Park, Building No. 11,
Polystyrene (PS) producing lines at the plant in villages Amdoshi, Wangani, Maharashtra into a swing 5th Floor, 167, Guru Hargovindji Marg,
line capable of producing 42500 TPA of SMMA (Styrene Methyl Methacrylate) in addition to PS. Chakala, Andheri (East),
Website: www.supremepetrochem.com

26,557.3 356.2 3,746.9 919.9 3.5 1.3 9.5
(As on Jun 30, 2015)

Pharmaceuticals
Pharmaceuticals
Comparative Matrix

Company Name
1 Cipla Limited 102,796.9 11,810.9 109,341.8 11.5 10.8
2 Dr. Reddys Laboratories Limited 102,338.0 16,794.0 105,140.0 16.4 16.0
3 Lupin Limited 99,331.0 23,973.5 90,128.1 24.1 26.6
4 Sun Pharmaceutical Industries Limited 82,287.7 (14,741.3) 226,636.4 (17.9) (6.5)
5 Aurobindo Pharma Limited 81,623.2 15,163.5 53,595.4 18.6 28.3
6 Cadila Healthcare Limited 54,696.0 12,711.0 45,103.0 23.2 28.2
7 Glenmark Pharmaceuticals Limited 51,705.4 11,762.7 48,661.0 22.7 24.2
8 Torrent Pharmaceuticals Limited 37,811.6 6,231.8 8,474.0 16.5 73.5
9 Jubilant Life Sciences Limited 32,827.2 68.9 19,378.2 0.2 0.4
10 Divi's Laboratories Limited 31,268.5 8,470.6 35,580.1 27.1 23.8
11 Ipca Laboratories Limited 31,209.1 2,561.1 21,561.0 8.2 11.9
12 GlaxoSmithKline Pharmaceuticals Limited# 27,889.9 4,188.2 18,516.7 15.0 22.6
13 Piramal Enterprises Limited 27,000.0 738.6 113,483.5 2.7 0.7
14 Biocon Limited 23,907.0 3,830.0 25,678.0 16.0 14.9
15 Wockhardt Limited 23,516.6 3,318.2 13,442.0 14.1 24.7
16 Abbott India Limited 23,362.0 2,289.6 9,336.4 9.8 24.5
17 Sanofi India Limited 20,417.8 1,970.5 10,981.6 9.7 17.9
18 Alembic Pharmaceuticals Limited 20,215.9 2,866.1 8,335.6 14.2 34.4
19 Pfizer Limited 19,206.7 1,502.7 11,037.6 7.8 13.6
20 Nectar Lifesciences Limited 16,636.4 662.6 9,579.5 4.0 6.9
21 Ajanta Pharma Limited 13,899.0 3,133.2 7,831.7 22.5 40.0
22 Granules India Limited 12,162.7 952.3 3,385.2 7.8 28.1
23 Unichem Laboratories Limited 11,109.6 644.0 9,464.3 5.8 6.8
24 Shasun Pharmaceuticals Limited 10,923.2 398.9 3,953.3 3.7 10.1
25 Aarti Drugs Limited 10,878.7 776.0 3,024.0 7.1 25.7
26 J.B.Chemicals & Pharmaceuticals Limited 10,718.3 1,135.8 10,150.6 10.6 11.2
27 Strides Shasun Limited 10,295.8 137.1 13,922.0 1.3 1.0
28 Novartis India Limited 9,810.2 854.4 10,019.9 8.7 8.5

Cipla Limited
About the Company
Cipla Ltd (Cipla), a pharmaceutical company with global presence was established in the year 1935. Top 500 Ranking
Cipla is engaged in manufacturing of APIs, formulations and respiratory products which have been Income 89
approved by major international regulatory agencies. The company manufactures bulk drugs,
tablets and capsules, creams, liquids, injections/sterile solutions and aerosols/inhalation device. Net Profit 69
The companys product portfolio includes over 1,500 products across various therapeutic categories Networth 69
with over 60 dosage forms. The company operates over 30 manufacturing facilities in India and
also has presence in over 150 countries across the globe with extensive presence in South Africa, Address
US and EU. In FY15, Cipla launched generic drug Sofosbuvir in India under the brand name Hepcvir Cipla House,
for treatment of hepatitis-C. During the year, Cipla acquired a 60% stake in respiratory device Peninsula Business Park,
manufacturer, Jay Precision Pharmaceuticals Pvt Ltd. In Dec 2015, the company launched a novel Ganpatrao Kadam Marg, Lower Parel,
5 in 1 anti-ageing skin care product Cutisera developed by Stempeutics. In Feb 2016, Ciplas UK Mumbai - 400013, Maharashtra
arm, Cipla (EU) Ltd completed acquisition of two US-based companies, InvaGen Pharmaceuticals Website: www.cipla.com
Inc. And Exelan Pharmaceuticals Inc.

102,796.9 11,810.9 109,341.8 20,124.9 19.6 11.5 10.8
(As on Mar 31, 2015)
Dr. Reddys Laboratories Limited

About the Company
Dr. Reddys Laboratories Ltd (Dr Reddy) was incorporated as an API manufacturer in 1984. Dr Top 500 Ranking
Reddy is a global pharmaceutical company providing medicines through its businesses, namely Income 91
pharmaceutical services and active ingredients, global generics and proprietary products. The
company offers products and services including APIs, generics, custom pharmaceutical services, Net Profit 55
biosimilars and different formulations. Some of the key brands under which company markets its Networth 71
products in and outside India include Omez, Stamlo, Razo, Ketorol, and Nise amongst others. The
company operates through 17 manufacturing facilities, four technology development centers, two Address
R&D centers and a biologics center in India. It also has presence in over 26 countries across the 8-2-337, Road No 3,
globe. In FY15, Dr Reddy launched 12 new products including Valganciclovir, Sirolimus and Habitrol. Banjara Hills,
During the year, it filed 13 ANDA with USFDA taking the cumulative ANDAs awaiting approval from Hyderabad - 500034, Telangana
USFDA to 68. In Nov 2015, the company entered into strategic alliance with Biocodex to market and Website: www.drreddys.com
distribute its products in the Romanian market. In Dec 2015, Dr Reddy re-launched its Esomeprazole
Magnesium Delayed- Release capsules.

102,338.0 16,794.0 105,140.0 26,148.0 25.6 16.4 16.0
(As on Mar 31, 2015)
Lupin Limited
About the Company
Lupin Ltd (Lupin) was incorporated in 1968 to develop new drugs to combat and eradicate life- Top 500 Ranking
threatening diseases. In 2001, the company acquired its present name after amalgamation of Lupin Income 95
Laboratories and Lupin Chemicals. In 2015, the company acquired Biocom in Russia, Medquimica
in Brazil and Pharma Dynamics in SA. Lupin is primarily engaged in developing and marketing of Net Profit 39
formulations and APIs. Formulations segment covers cardiovascular, diabetology, asthma, gastro- Networth 80
intestinal, central nervous system and gynaecology segments and the API segment of the company
covers therapeutic segment like anti-TB, cephalosporin and cardiovascular. The company has 13 Address
manufacturing facilities in India, Japan and Mexico and it also exports to around 79 countries across 159, C.S.T. Road,
the globe. In FY15, Lupin filed for eight DMFs, five EDMFs, five CEPs and one Japan DMF. In Jul 2015, Kalina,
Lupin entered into a strategic asset purchase agreement with Temmler Pharma GmBH & Co KG Santacruz (East),
to acquire its speciality product portfolio and also entered into a definitive agreement to acquire Mumbai - 400098, Maharashtra
privately held GAVIS Pharmaceuticals LLC and Novel Laboratories Inc. Website: www.lupin.com

99,331.0 23,973.5 90,128.1 35,503.1 35.7 24.1 26.6
(As on Mar 31, 2015)

Sun Pharmaceutical Industries Limited
About the Company
Sun Pharmaceutical Industries Ltd (Sun Pharma) was incorporated in 1961. The company produces Top 500 Ranking
a comprehensive portfolio of specialty and generic products targeting a wide spectrum of chronic Income 110
and acute treatments. Its manufacturing capabilities span generics, branded generics, difficult-to-
make technology intensive products, over-the-counter, anti-retrovirals, APIs and intermediates. The Net Profit 497
company along with its subsidiaries have manufacturing footprint in six continents with products Networth 36
sold in over 150 nations with a stronger presence in the US, India, Asia, Europe, South Africa, CIS
and Russia and Latin America. As on Mar 31 2015, Sun Pharmas cumulative ANDA filings stood at Address
597 and products approved stood at 438. In FY15, the company completed acquisition of Ranbaxy SPARC,
Laboratories Ltd. In Nov 2015, Sun Pharma completed acquisition of InSite Vision. In Dec 2015, Tandalja,
Sun Pharma entered into a tripartite research and option agreement with Israel-based Weizmann Vadodara - 390020, Gujarat
Institute of Science and Spains Health Research Institute of Santiago de Compostela to develop Website: www.sunpharma.com
products for the treatment of neurological diseases like brain stroke as well as glioblastoma, a lethal
brain cancer.

82,287.7 (14,741.3) 226,636.4 (7,244.9) -8.8 (17.9) (6.5)
(As on Mar 31, 2015)
Aurobindo Pharma Limited

About the Company
Aurobindo Pharma Ltd (Aurobindo) incorporated in 1986, is one of the leading pharmaceutical Top 500 Ranking
companies in India. The company initiated with a single unit manufacturing Semi-Synthetic Penicillin Income 112
(SSP) at Pondicherry, has gradually grown to manufacture key therapeutic segments such as
neurosciences, cardiovascular, anti-retrovirals, anti-diabetics, gastroenterology and cephalosporins. Net Profit 59
The company has maintained strong position in the market manufacturing active pharmaceutical Networth 108
ingredients (API) and formulation products. Aurobindo manages 15 manufacturing facilities in India,
three in the US and one in Brazil. Aurobindo has well established R&D centre and has a multi-product Address
portfolio with manufacturing facilities in several countries. Aurobindo exports to over 150 countries Plot No.2,
across the globe with more than 86% of its revenues derived out of international operations. In Maithri Vihar,
FY15, the company acquired Natrol LLC, a US based nutritional supplement maker. During the same Ameerpet,
period, US accounted for about 50% to the overall formulations revenues. Hyderabad - 500038, Telangana
Website: www.aurobindo.com

81,623.2 15,163.5 53,595.4 22,350.7 27.4 18.6 28.3
(As on Mar 31, 2015)
Cadila Healthcare Limited

About the Company
Cadila Healthcare Ltd (Cadila), a Zydus Cadila Group company, was incorporated in 1995 subsequent Top 500 Ranking
to operational restructuring of the group. Cadila operates in formulations and APIs & intermediates Income 151
segments. Under formulations, Cadila specialises in cardiovascular, gastrointestinal, womens
healthcare and other therapeutic segments such as respiratory, pain management and anti- Net Profit 66
infectives. It operates in the consumer wellness segment through its subsidiary, Zydus Wellness Ltd; Networth 122
which operates three brands namely Sugar Free, EverYuth and Nutralite. In FY15, it launched nine
new products in US market and over 55 new products including line extensions in the Indian market. Address
During the year, Cadila filed 38 ANDAs and 10 DMFs with USFDA taking the cumulative ANDA and Zydus Tower,
DMF filing to 260 and 116 respectively as on Mar 31, 2015. In FY15, the company launched two new Satellite Cross Roads,
divisions in the Mexican subsidiary to focus on the segments of cardiology and the central nervous Sarkhej-Gandhinagar Highway,
system. During the year, the company acquired 50% stake of the JV partner in Zydus BSV Pharma Pvt Ahmedabad - 380015, Gujarat
Ltd making it a wholly owned subsidiary. Website: www.zyduscadila.com

54,696.0 12,711.0 45,103.0 17,103.0 31.3 23.2 28.2
(As on Mar 31, 2015)

Glenmark Pharmaceuticals Limited
About the Company
Glenmark Pharmaceuticals Ltd (Glenmark) was incorporated in 1977 and entered dermatology Top 500 Ranking
market in 1979. The company along with its subsidiaries are primarily engaged in the business Income 159
of development, manufacture and marketing of pharmaceutical products. The company has a
significant presence in branded generics markets across emerging economies including India and Net Profit 71
also has a fast growing generics business in the US and Europe. The company also markets APIs and Networth 117
is actively involved in the discovery of new molecules both NCEs (new chemical entities) and NBEs
(new biological entities. The company operates 16 manufacturing units in India, Argentina, Czech Address
Republic and Brazil. Its six R&D centres are located across India, UK & Switzerland. In Oct 2015, B/2, Mahalaxmi Chambers,
Glenmark through its subsidiary Glenmark Pharmaceuticals Europe Ltd entered into a strategic 22, Bhulabai Desai Road,
development & licensing agreement with Celon Pharma S.A. to develop and market a generic Mahalaxmi,
version of GlaxoSmithKlines Seretide Accuhaler product - Fluticasone / Salmeterol dry powder Mumbai - 400026, Maharashtra
Inhaler in Europe. In Feb 2016, Glenmark received USFDA approval for Norgetimate and Ethinyl Website: www.glenmarkpharma.com
Estradiol tablets.

51,705.4 11,762.7 48,661.0 13,812.0 26.7 22.7 24.2
(As on Mar 31, 2015)
Torrent Pharmaceuticals Limited

About the Company
Torrent Pharmaceuticals Ltd (Torrent Pharma), a flagship company of Torrent Group was Top 500 Ranking
incorporated in 1972. The company is primarily engaged in manufacturing of formulations and APIs Income 204
in the therapeutic areas of cardiovascular, central nervous system, gastro-intestinal, diabetology,
anti-infective and pain management. The company has also entered into an exclusive licensing Net Profit 105
agreement with Reliance Life Sciences for marketing three biosimilars in India Rituximab, Networth 322
Adalimumab and Cetuximab. Torrent Pharma has three manufacturing facilities in the states of
Gujarat, HP and Sikkim. Torrent Pharma has a strong international presence spanning over 40 Address
countries with over 1,200 product registrations. In FY15, Torrent Pharma received 6 ANDA approvals; Torrent House,
filed 73 ANDAs and 26 DMFs filed in US and submitted 56 new product Dossiers & 24 DMF in the Off Ashram Road,
EU. In FY15, the company completed acquisition of Elder Pharmaceuticals Ltds branded domestic Ahmedabad - 380009, Gujarat
formulations business in India and Nepal. In Jul 2015, Torrent Pharma completed acquisition of Website: www.torrentpharma.com
Zyg Pharma Pvt Ltd, a company engaged in manufacturing various dermatological formulations like
creams, ointments, gels, lotions and solutions.

37,811.6 6,231.8 8,474.0 11,297.8 29.9 16.5 73.5
(As on Mar 31, 2015)
Jubilant Life Sciences Limited

About the Company
Jubilant Life Sciences Ltd (Jubilant Life Sciences) was incprorated in 1978 as Vam Organic Chemicals Top 500 Ranking
Ltd. It acquired its present name in the year 2010. Jubilant Life Sciences is an intregrated global Income 224
pharmaceutical and life sciences company engaged in manufacturing and supply of APIs, Solid
Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products, Advance Intermediates, Net Profit 456
Fine Ingredients, Crop Science Ingredients, Life Science Chemicals and Nutritional Products. The Networth 206
company is engaged in radiopharmaceuticals and contract manufacturing of sterile injectables
through Jubilant Pharma. The company operates manufacturing facilities across UP, Gujarat, Address
Maharashtra, Karnataka, and Uttarakhand. The company has presence in countries like Singapore, Bhartiagram,
Belgium, China and parts of North America through manufacturing facilities and marketing offices. Gajraula,
In FY15, the pharmaceutical business of the company accounted for 46% of its overall income; Dist. Amroha-244223, UP
while Life Sciences segment contributed 54% of its income. During the same period, it had 39 Website: www.jubl.com
commercial APIs and a pipeline of 72 filings pending approval including 46 in the US, 17 in Canada
and 4 Certificates of European Pharmacopoea.

32,827.2 68.9 19,378.2 5,631.2 17.2 0.2 0.4
(As on Mar 31, 2015)

Divis Laboratories Limited
About the Company
Divis Laboratories Ltd (Divis) was incorporated in 1990 as Divis Reaseach Center and acquired its Top 500 Ranking
present name in 1994. Divis is engaged in developing new processes for the production of APIs Income 230
and intermediates. The company is primarily engaged in manufacturing of APIs, intermediates for
generics, building blocks for peptides, building blocks for nucleotides, carotenoids, amino acids and Net Profit 88
chiral ligands. It is also engaged in custom manufacturing of synthesis and conducts FTE/contract Networth 136
research. The company operates four multi-purpose manufacturing facilities and four research
centres in AP and Telangana. It has overseas presence through its subsidiary companies namely Address
Divis Laboratories USA Inc in US and Divis Laboratories (Europe) AG in Switzerland. Divis has a total Cyber Hills,
of 39 DMFs with USFDA and 197 EDMFs and 19 Certificates of Suitability with various European Gachibowli,
Union authorities. Divi has also filed a total of 11 patents for generic products. In FY15, Divis exports Hyderabad - 500032, Telangana
accounted for 87% of its gross sales. Website: www.divislaboratories.com

31,268.5 8,470.6 35,580.1 12,035.7 38.5 27.1 23.8
(As on Mar 31, 2015)
Ipca Laboratories Limited

About the Company
Ipca Laboratories Ltd (Ipca) was incorporated in 1949. Ipca operates in two business segments Top 500 Ranking
namely branded and generics formulations; and APIs and intermediates. Ipca manufactures over Income 231
350 formulations in various dosage form viz. oral solids and liquids, dry powders for suspension, and
liquid & dry injectables. The formulation segment covers therapeutic areas covering anti-malarials, Net Profit 196
cardiovasculars and anti-diabetics, non-steroidal anti-inflammatory drugs, anti-bacterials and gastro Networth 189
Intestinal products among others. It manufactures APIs and intermediates like Atenolol, Furosemide,
Chloroquine Phosphate, Hydroxychloroquine Sulphate, Metoprolol Succinate, Metoprolol Tartrate Address
and Pyrantel Salts. Some of the major brands of the company include Glycinorm, Movon, Pari, 48, Kandivali Industrial Estate,
Perinorm, Solvin, Sultax, Tenolol, Zerodol, Ramcor and Lariago amongst few. The company exports Kandivali (W),
operations span across more than 120 countries across Africa, Asia, Europe, Americas, Australia Mumbai - 400067, Maharashtra
and CIS. In FY15, the company entered into an alliance with Oncobiologics, Inc., USA for the Website: www.ipca.com
development, manufacture and commercialization of biosimilar monoclonal antibody products and
it also acquired High Potency Oral Solid Dosage formulations manufacturing unit in Indore, MP.

31,209.1 2,561.1 21,561.0 5,553.3 17.8 8.2 11.9
(As on Mar 31, 2015)
GlaxoSmithKline Pharmaceuticals Limited

About the Company
GlaxoSmithKline Pharmaceuticals Ltd (GSK) was established in 1924 as HJ Foster & Co. In 1989, the Top 500 Ranking
companys name changed to Glaxo India Ltd and in 2001 it acquired its present name after a merger Income 248
with SmithKline Beecham Pharmaceuticals (India) Ltd. GSKs product portfolio includes prescription
medicines and vaccines. Under prescription medicines, the company operates in the therapeutic Net Profit 146
areas such as anti-infectives, dermatology, gynaecology, diabetes, oncology, cardiovascular disease Networth 210
and respiratory disease. It also offers a range of vaccines, for the prevention of hepatitis A, hepatitis
B, invasive disease caused by influenzae, chickenpox, diphtheria, pertussis, tetanus, rotavirus, Address
cervical cancer, streptococcus pneumonia and others. The company manufacturing facility is located GSK House,
in Nashik, Maharashtra. The company markets its products under brands Zentel, Betnesol, Calpol, Dr. Annie Besant Road,
Zinetac, Neosporin, Zyloric and Cetzine among others. In FY15, some of the companys products Worli,
approved in India include Arzerra, Prolia, Mycamine 100 mg, Votrient, Revolade, and Tykerb. In Sep Mumbai - 400030, Maharashtra
2015, GSK acquired Novartis Indias vaccines business and divested its marketed oncology portfolio Website: www.gsk-india.com
to Novartis India.

27,889.9 4,188.2 18,516.7 6,195.6 22.2 15.0 22.6
(As on Mar 31, 2015)

Piramal Enterprises Limited
About the Company
Piramal Enterprises Ltd (PEL), a flagship company of the Piramal Group was incorporated in 1947. Top 500 Ranking
In 1988, the company ventured into healthcare segment. The company operates in the field of Income 253
healthcare, financial services and information management. Under healthcare PEL offers various
solutions under pharma solutions, critical care business, consumer products business and imaging Net Profit 336
business. Under financial services, the companys financial services arm, Piramal Capital, includes Networth 65
two entities Piramal Fund Management Pvt Ltd and the Structured Investment Group each
targeting real estate and infrastructure. Under information management, PELs subsidiary Decision Address
Resources Group offers high-value information and insights on important sectors of the healthcare Nicholas Piramal Tower,
industry. As on Mar 31 2015, PELs loan book size stood at ` 47.7 bn. In Dec 2015, PELs consumer Ganpatrao Kadam Marg,
products division acquired five brands from Organon India Pvt Ltd and MSD BV for a consideration Lower Parel,
of ` 920 mn. In Feb 2016, PELs step-down wholly owned subsidiary in the US, Decision Resources Mumbai - 400013, Maharashtra
Group expanded into healthcare payer market by acquiring Adaptive Software, LLC. Website: www.piramal.com

27,000.0 738.6 113,483.5 10,394.0 38.5 2.7 0.7
(As on Mar 31, 2015)
Biocon Limited
About the Company
Biocon Ltd (Biocon), was incorporated in Nov 1978 and got listed in 2004. Biocon is primarily engaged Top 500 Ranking
in manufacturing of biotechnology products. Biocon has organized its business in five verticals Income 281
namely small molecules, biosimilars, branded formulations, novel molecules, global marketing and
research services. Biocons R&D focuses on biopharmaceutical drug development through four Net Profit 158
principal domains: molecular biology, process sciences, non-clinical research and clinical research. Networth 168
It operates through manufacturing units; located in Bengaluru, Karnataka and Medak, AP. Some of
its key brands includes INSUGEN(rh-insulin), BASALOG (Glargine), CANMAb(Trastuzumab), Address
BIOMAb-EGFR (Nimotuzumab) and ALZUMAb(Itolizumab). During FY15, Biocon has entered into 20th KM,
an agreement with US based Gilead Sciences to license its chronic hepatitis-C blockbuster product Hosur Road,
range including sofosbuvir and sofosbuvir/ledipasvir combination. In 2015, Biocon acquired the Hebbagodi,
business assets of the pharmaceutical manufacturing unit of Acacia Lifesciences Pvt Ltd. Further, Bengaluru - 560100, Karnataka
the company introduced BASALOG One, insulin glargine disposable pen in India. In Feb 2016, it Website: www.biocon.com
received its first generic formulation approval in EU and will launch Rosuvastatin Tablets in FY17.

23,907.0 3,830.0 25,678.0 5,572.0 23.3 16.0 14.9
(As on Mar 31, 2015)
Wockhardt Limited
About the Company
Wockhardt Ltd (Wockhardt) was incorporated in 1999. Wockhardt is primarily engaged in Top 500 Ranking
manufacturing and marketing of pharmaceuticals, bio-pharmaceutical formulations, APIs and Income 284
vaccines. The product portfolio of the company includes injections, liquids & solutions, tablets,
capsules, ointments, powder, bulk drugs, APIs amongst others. Wockhardt has three R&D centres Net Profit 169
and 14 manufacturing facilities in India, US and UK. Wockhardt has global presence in markets of Networth 251
Russia, Brazil, Kenya, Ireland, France, Myanmar, Sri Lanka, Ghana, Ukraine, Tanzania and Vietnam
amongst others. In FY15, the company launched 42 new products in India, filed for 14 new products Address
in US and 11 in UK. During the year, the company filed 267 patents and have been granted 82 D - 4, MIDC,
patents taking the cumulative patent filings to 2,268 and patents granted to 341. In Jun 2015, Chikalthana,
Wockhardt received USFDA approval for marketing Oxycodone HCI liquid in the US market and in Aurangabad - 431006,
Dec 2015, its anti infective drug namely WCK 5222 received Qualified Infectious Disease Product Maharashtra
status from USFDA. Website: www.wockhardt.com

23,516.6 3,318.2 13,442.0 4,710.3 20.0 14.1 24.7
(As on Mar 31, 2015)

Abbott India Limited
About the Company
Abbott India Ltd (Abbott) is a part of the US-based Abbott Global Pharmaceutical business in India. Top 500 Ranking
The company operates in the business of pharmaceuticals. Abbotts business operations have been Income 285
divided into four divisions namely, general care division, consumer care division, speciality care
division and womens health, gastroenterology and hepatic are division. The company has a strong Net Profit 204
presence in multiple therapeutic categories such as womens health, gastroenterology, neurology, Networth 307
thyroid, diabetes and urology, pain management, vitamins, anti-infectives & other therapy areas.
Abbott offers a comprehensive portfolio of over 480 products across 60 brands. The company Address
has its formulation plant at Verna, in Goa. The company operates through a wide network of 25 3- 4, Corporate Park,
distribution points catering to over 5,200 stockists and 150,000 retail outlets. Various brands under Sion Trombay Road,
which Abbott markets its products include Duphaston, Vertin, Heptral, Duvadilan, Brufen, Cremafin, Mumbai - 400071, Maharashtra
Epilex and Creon amongst others. In FY15, the company launched nine new products which includes Website: www.abbott.co.in
Duphalac Fiber, Arachitol Nano, Abocal 500, Femoston, Femoston Conti, Influvac SH, Solfe AZ,
Zolfresh CR and Zoxaflam.

23,362.0 2,289.6 9,336.4 3,598.0 15.4 9.8 24.5
(As on Mar 31, 2015)
Sanofi India Limited

About the Company
Sanofi India Ltd (Sanofi India), was incorporated in 1956 as Hoechst Fedco Pharma Pvt Ltd. It changed Top 500 Ranking
to its present name in May 2012 from Aventis Pharma Ltd. Sanofi India primarily manufactures Income 310
pharmaceutical medicines. It provides medicines in therapeutic areas like cardiology, thrombosis,
oncology, diabetes, central nervous system and consumer healthcare. In 2015, the company Net Profit 218
witnessed an increase of over 75% in volumes of paracetamol and codeine tablets exported to Networth 287
the U.K. The export sales of the company accounted for 26.5% of the total net sales. Telsite AM
H and Amaryl MV were the major therapeutic solutions launched by the company. During FY 15, Address
the company initiated new projects in Goa and Ankleshwar leading to an increase in production Sanofi House, CTS No.117-B,
capacity of 3.5 billion tablets annually. L&T Business Park,
Saki Vihar Road, Powai,
Website: www.sanofiindialtd.com

20,417.8 1,970.5 10,981.6 4,697.4 23.0 9.7 17.9
(As on Dec 31, 2014)
Alembic Pharmaceuticals Limited

About the Company
Alembic Pharmaceuticals Ltd (APL) was incorporated in 1907 to develop, manufacture and market Top 500 Ranking
pharmaceutical products, pharmaceutical substances and intermediates. The company is primarily Income 315
engaged in the business of international generics, branded formulations and APIs. It has presence
in the therapeutic areas of cardiology, anti-diabetic, gastrology, gynaecology, dermatology, Net Profit 185
orthopaedic, anti-infective and cold & cough amongst others. Some of the prominent brands of the Networth 324
company include Azithral, Roxid, Ulgel, Rekool, Tellzy, Zeet, Wikoryl, Althrocin and Gestofit amongst
others. In FY15, APL through its wholly owned subsidiary Alembic Global Holding S.A. entered into Address
JV with Adwiya Mami SARL Algeria to form a JV in the name of Alembic Mami SPA. During the year, Alembic Road,
APL filed seven ANDAs, received approval for five ANDAs and launched five new products in US. In Vadodara - 390003, Gujarat
FY15, APL filed seven DMFs taking the cumulative DMF filing to 72 as on Mar 31 2015. As on Mar 31 Website: www.alembic-india.com
2015, the cumulative ANDA filing with USFDA by APL stood at 68 which include 33 approved ANDAS
and four tentative approved ANDAs.

20,215.9 2,866.1 8,335.6 4,104.2 20.3 14.2 34.4
(As on Mar 31, 2015)

Pfizer Limited
About the Company
Pfizer Ltd (Pfizer), a subsidiary of Pfizer Inc., USA was incorporated in 1950. Pfizer is mainly engaged Top 500 Ranking
in the manufacture of pharmaceutical products like tablets and capsules, liquid parentals, solids, Income 326
ointments and lotions amongst others. The company operates in multiple therapeutic areas
including anti-allergic, anti-diabetic, antihistamine, anti-infectives, anti-parasitic, cardiovascular, Net Profit 244
dermatology, erectile dysfunction, multivitamins, neurology, pain/fever/inflammation, pediatrics, Networth 285
psychiatry, urology, vitamin/ minerals, respiratory and GI among others. Some of its key brands
include; Corex, Becosules, Claribid, Equiflex, Trulimax, Gelusil, Terramycin, Folvite, Targit, Viagra, Address
Autrin, Wusolone and Magnex. The company operates two plant located in Navi Mumbai and The Capital, 1802/1901,
Goa. In FY15, Wyeth Ltd got amalgamated with Pfizer. In Sep 2015, Pfizer entered into business Plot No. C-70, G Block,
transfer agreement to transfer its Thane plant business to Vidhi Reasearch and Development LLP for BKC, Bandra (E),
consideration of ` 17.8 bn. The company also completed acquisition of Hospira Inc. in Sep 2015. Mumbai - 400051, Maharashtra
Website: www.pfizerindia.com

19,206.7 1,502.7 11,037.6 3,698.6 19.3 7.8 13.6
(As on Mar 31, 2015)
Nectar Lifesciences Limited

About the Company
Nectar Lifesciences Ltd (NecLife) was incorporated in 1995. NecLife is involved in various business Top 500 Ranking
activities like contract research & manufacturing services, API & Intermediates, formulations, Income 356
generics & OTC, diagnostics, empty hard gelatin capsules and menthol. Under contract research
& manufacturing activity, the company provides analytical development, chemical development, Net Profit 347
manufacturing and engineering consulting services. Under API & Intermediates, NecLife Networth 303
manufactures cephalosporin range of products like cefixime trihydrate, cefpodoxime proxetil,
cefazolin sodium and cefdinir amongst others. NecLife undertakes formulations for finished and Address
solid dosage forms like tablets, capsules, dry powder oral suspension etc. In menthol segment, the Village Saidpura,
company manufactures menthol crystals, menthol flakes, peppermint oil and menthones amongst Tehsil Dera Bassi,
others. The company has 11 manufacturing facilities located in Punjab, HP and Jammu. NecLife has Patiala - 140507, Punjab
its brand presence in 20 states across India and 55 countries across five continents. Till Mar 31 2015 Website: www.neclife.com
NecLife had filed 44 DMFs in markets like US, EU, Japan, Korea, Canada and South Africa; and 15
ANDA in US. In FY15, Nectar incorporated Nectar Lifesciences US, LLC in US.

16,636.4 662.6 9,579.5 2,494.5 15.0 4.0 6.9
(As on Mar 31, 2015)
Ajanta Pharma Limited

About the Company
Ajanta Pharma Ltd (Ajanta Pharma), a speciality formulations company was established in 1973. The Top 500 Ranking
company is engaged in development, manufacturing and marketing of finished dosages in domestic Income 402
and international markets. Ajanta Pharma manufactures pharmaceutical products in the therapeutic
areas of anti-malarial, cardiovascular, dermatology, male erectile dysfunction, musculoskeletal and Net Profit 178
ophthalmology. The company operates five manufacturing facilities, out of which four are located in Networth 335
and around Aurangabad in Maharashtra and one in Gujarat. It also operates a manufacturing facility
in Mauritius. The company has a research & development centre located at Mumbai.Some of the Address
brands under which company markets its products include Feburic, Softdrops, Met-XL, Melacare Ajanta House,
and Apdrops amongst others. Ajanta Pharma has presence in more than 30 countries. The company Charkop,
has brand portfolio of more than 400 products and also more than 1,400 products registered in Kandivli (West),
emerging markets. Till FY16, the company received eight ANDA approvals, two tentative approvals Mumbai - 400067, Maharashtra
and additional 16 ANDA approvals are under review from US-FDA. Website: www.ajantapharma.com

13,899.0 3,133.2 7,831.7 4,979.9 35.8 22.5 40.0
(As on Mar 31, 2015)

Granules India Limited
About the Company
Granules India Ltd (Granules) was incorporated in the year 1991 and served as a trading company. In Top 500 Ranking
1994, the company set up its pharmaceutical formulation intermediates (PFI) facility at Jeedimetla Income 436
and in 2007 it established Granules-Biocaues, a JV with Hubei Biocause Pharmaceutical. The
company operates in three segments viz. APIs, PFIs and finished dosages. Under API segment, Net Profit 304
the company manufactures drugs such as Cetrizine, Fluconazole, Rifaximin, Valsartan, Clopidogrel Networth 444
Bisulphate and Losartan Potassium amongst others. Under finished dosages, Granules offers tablets,
caplets and press fit capsules in bulk, blister packs and bottles. Under PFI segment, the company Address
offers paracetamol, metformin HCI, ciprofloxacin, guaifenesin, acetaminophen and ibuprofen 2nd Floor, 3rd Block,
amongst others. In FY15, 40% of companys revenue came from API segment followed by finished My Home Hub,
dosage and PFI accounting to 35% and 25% of companys total revenue respectively. During the Madhapur,
year, Auctus Pharma Ltd got amalgamated with the company. In Jan 2016, Granules through its Hyderabad - 500081, Telangana
subsidiary Granules USA entered into an agreement with Par Pharmaceuticals Inc to market the Website: www.granulesindia.com
generic version of OTC omeprazole and sodium bi-carbonate in North America.

12,162.7 952.3 3,385.2 2,085.9 17.1 7.8 28.1
(As on Mar 31, 2015)
Unichem Laboratories Limited

About the Company
Unichem Laboratories Ltd (Unichem) was founded in the year 1944 and in 2006 it acquired Niche Top 500 Ranking
Generics Ltd, UK. The company operates in the pharmaceutical sector with formulations and APIs as Income 457
its core businesses. Its wide range of formulations addresses therapeutic areas like gastroenterology,
cardiology, diabetology, dermatology, rheumatology, nephrology and anti-infectives among others. Net Profit 350
Some of its prominent brands include; Losar, Ampoxin, Unienzyme, Telsar, Olsar, Metride, Linox, Networth 305
Unistar, Serta and Tolol among others. Its API business caters to both domestic and international
market supported with over 41 USDMFs, 24 CEPS and 240 ASMFs across Europe. The company Address
operates formulation plants across Goa, HP, UP and Sikkim while its API plants are located in MP Unichem Bhavan,
and Maharashtra. It operates across UK, US, Brazil, South Africa and Ireland through wholly owned Prabhat Estate,
subsidiaries. In FY15, the chronic therapy business of the company accounted for around 58% of the Jogeshwari (West),
companys revenue. The company received ANDA approval from USFDA for Alfuzosin Hydrochloride Mumbai - 400102, Maharashtra
Extended-Release Tablets USP tablets in Jan 2016 and Quetiapine Fumarate tablets in Mar 2016. Website: www.unichemlabs.com

11,109.6 644.0 9,464.3 1,214.6 10.9 5.8 6.8
(As on Mar 31, 2015)
Shasun Pharmaceuticals Limited

About the Company
Shasun Pharmaceuticals Ltd (Shasun Pharma) was founded in 1976 as Shasun Chemicals (Madras) Top 500 Ranking
Pvt Ltd. Between 1991-96, it was converted into a public company and renamed as Shasun Income 462
Chemicals & Drugs Ltd. The company is engaged in the manufacture of APIs and drug products,
with a significant presence in anti-inflammatory and anti-ulcerative therapeutic groups and Net Profit 386
formulations. The company offers a broad portfolio of over twenty APIs and excipients in the areas Networth 420
of pain management, central nervous system, cardiovascular, COPD, anti-infective, gastrointestinal,
cough suppressants and ani emetic among others. Its product portfolio includes Ibuprofen, Address
Ranitidine, Nizatidine, Gabapentin, Levetiracetan and Cycloserine, amongst others. In FY15, API The Batra Centre,
and its intermediate business contributed close to 57% of the turnover. It offers a comprehensive Old no 28 Sardar Patel Road,
range of formulation development and manufacturing services for solid dosage products to its Guindy, Chennai - 600032
pharmaceutical customers. It also offers contract research and manufacturing services (CRAMS) Tamil Nadu
in both APIs and formulations. In Nov 2014, the company merged with Strides Arcolab Ltd and Website: www.shasun.com
subsequently the combined entity was named as Strides Shasun Ltd.

10,923.2 398.9 3,953.3 1,282.8 11.7 3.7 10.1
(As on Mar 31, 2015)

Aarti Drugs Limited
About the Company
Aarti Drugs Ltd (ADL), a part of Aarti Group of Industries, was incorporated in 1984. The company Top 500 Ranking
is one of the leading pharmaceutical companies primarily engaged in manufacturing of APIs, Income 466
formulations, speciality chemicals and pharma intermediates. The company has presence in the
therapeutic areas of anti-diarrhea, anti-inflammatory, anti-diabetic, anti-arthritis, anti-fungal, anti- Net Profit 331
inflammatory, anti-hypertensive, anti-cholinergic, sedatives and anti-depressant drugs. Some of Networth 457
the products manufactured by ADL include Ornidazole, Clopidogrel Bisulphate, Pioglitazone HCL,
Diloxanide Furoate, Ketoconazole, Ofloxacin, Niacin, Tinidazole and Celecoxib amongst others. The Address
company operates ten manufacturing facilities in states of Maharashtra and Gujarat. ADL export Plot No. N-198,
its products to over 94 countries including Brazil, Mexico, Turkey, Pakistan, Spain and Netherlands. MIDC, Tarapur Tal.
Some of the major clients of the company include Abbott, Zydus Cadila, Kopran, Torrent, Sun Village Pamtembhi, Palghar,
Pharma, Sanofi-Aventis, Teva, Merck, Searle, Pfizer, Bayer and Clariant amongst others. In FY15, Thane - 401506, Maharashtra
ADL acquired 100% stake in Pinnacle Life Science Pvt Ltd, a company engaged in toll manufacturing Website: www.aartidrugs.co.in
of formulation and packaging.

10,878.7 776.0 3,024.0 1,696.1 15.6 7.1 25.7
(As on Mar 31, 2015)
J. B. Chemicals & Pharmaceuticals Limited

About the Company
J. B. Chemicals & Pharmaceuticals Ltd (JBCPL) was incorporated in the year 1976 in the name of Top 500 Ranking
J.B. Mody Chemicals & Pharmaceuticals Ltd. In 1985, Unique Chemicals was amalgamated with the Income 471
company and subsequently acquired its present name in the same year. JBCPL is a pharmaceutical
company engaged in manufacturing and marketing of diverse range of pharmaceutical formulations, Net Profit 283
herbal remedies and APIs. The company has presence in 22 therapeutic groups with over 108 Networth 293
brands in the domestic market. Some of the brands under which JBCPL markets its products include
Nicardia, Quinolones, Amoebicides, Antacids, Metrogyl, Nimek, Rantac, Motiza, Colopeg, Varitide Address
and Nor-Metrogyl amongst others. JBCL exports its products to many countries with a strong focus B Wing, Neelam Centre,
on Russia, Ukraine, CIS countries and South Africa. In Nov 2015, the companys subsidiary J.B. 4th Floor,
Healthcare Pvt Ltd acquired majority shareholding in South Africa based Biotech Laboratories (Pty.) Hind Cycle Road Worli,
Ltd. In FY15, sale of domestic formulations grew 15.9%; while contrast media and API grew 7.9% Mumbai - 400030, Maharashtra
and 4.4% respectively. Website: www.jbcpl.com

10,718.3 1,135.8 10,150.6 2,000.0 18.7 10.6 11.2
(As on Mar 31, 2015)
Strides Shasun Limited

About the Company
Strides Shasun Ltd (Strides) was incorporated in 1990 as Strides Arcolab Ltd. In Nov 2015 the Top 500 Ranking
company acquired its present name pursuant to merger of Shasun Pharmaceuticals with itself. The Income 482
company is a fully integrated global pharmaceutical company with 12 manufacturing facilities across
three continents and presence in over 85 countries. Strides operate in two business verticals viz. Net Profit 446
pharmaceuticals and biotech. The companys pharmaceutical business manufactures both pharma Networth 242
and branded generics in various forms such as soft gel capsules, hard gel capsules, tablets, sachets,
liquids & syrups and cream & ointments. Strides biotech business operating as an independent Address
subsidiary has been branded as Stelis Biopharma. In FY15, the company filed six new products with 201, Devavrata,
USFDA. During the year, the company launched five new products in US and a generic drug Sofosbuvir Sector 17,
in India under the brand name Virso for curing Hepatitis C. In Apr 2016, the company acquired three Vashi,
brands from Moberg Pharma for US$ 10 mn and also received Competition Commission of Kenyas Navi Mumbai - 400705, Maharashtra
approval for acquisition of controlling stake in Universal Corporation, Kenya. Website: www.stridesarco.com

10,295.8 137.1 13,922.0 7,407.8 71.9 1.3 1.0
(As on Mar 31, 2015)

Novartis India Limited
About the Company
Novartis India Ltd (Novartis), a part of Switzerland based Novartis group, has presence in India Top 500 Ranking
since 1947. The company operates in four business segments namely; pharmaceuticals, eye care Income 492
and generics. The pharmaceuticals segment comprises a portfolio of prescription medicines
which are provided to patients through healthcare professionals. Some of its offerings under the Net Profit 314
pharmaceutical segment include; Tegrital, Voveran and Sandimmun Neoral among others. Networth 295
These offerings are availiable in the form of tablets, capsules, liquid orals, injectables, creams &
ointments, patches and vials. The generics segment comprises of retail generics products focused Address
on the therapeutic segments such as Anti-TB, Anti-DUB (Gynaecology), Antihistamines, Antibiotics, Sandoz House,
Anti-ulcerants, Anti-diabetes and Cardiovascular. In FY15, the company launched new products in Dr Annie Besant Road,
the pain and inflammation line extension with Voveran 1 ml Inj and LetzmoveTM. During the same Shivsagar Estate, Worli,
period, the pharmaceutical segment accounted for nearly 69% of its overall revenues. Mumbai - 400018, Maharashtra
Website: www.novartis.in

9,810.2 854.4 10,019.9 972.4 9.9 8.7 8.5
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

P l a s t i c a nd
Plastic Products
Plastic and Plastic Products
Comparative Matrix

Company Name
1 Jain Irrigation Systems Limited 42,770.0 1,060.6 23,462.3 2.5 4.5
2 The Supreme Industries Limited 42,636.3 3,157.1 11,061.7 7.4 28.5
3 Sintex Industries Limited 41,182.4 4,793.1 42,245.5 11.6 11.3
4 Finolex Industries Limited 24,963.9 821.6 7,844.8 3.3 10.5
5 Nilkamal Limited 17,929.1 424.6 4,904.1 2.4 8.7
6 Kkalpana Industries (India) Limited 17,292.6 291.2 2,301.4 1.7 12.7
7 Responsive Industries Limited 15,351.0 331.9 5,442.7 2.2 6.1
8 Astral Poly Technik Limited 12,551.5 688.4 6,118.4 5.5 11.3
9 INEOS Styrolution India Limited# 11,743.8 280.2 5,030.1 2.4 5.6

Jain Irrigation Systems Limited
About the Company
Jain Irrigation Systems Ltd (Jain Irrigation) commenced operations in 1989 in micro irrigation systems Top 500 Ranking
(MIS). In 1994, it ventured into food processing business. It operates through three segments Income 186
namely hi-tech agri input products, industrial products and non-conventional energy. Its offerings
under hi-tech agri input products include; micro & sprinkler irrigation, PVC pipes, bio-tech tissue Net Profit 291
culture; while industrial products include; PVC & PC Sheets, PE Pipes, onion & vegetable dehydration Networth 177
and fruit processing. It also operates in the renewable energy segment offerings a wide range of
products such as photovoltaic module, water heaters, pumping systems, generation systems and Address
lighting & appliances. It operates with 30 manufacturing bases spread over four continents and Jain Plastic Park,
supply products to 116 countries globally. In Dec 2015, the company received a contract worth N.H. No.6,
` 2.2 bn from DAR ES SALAAM Water and Sewerage Authority, Tanzania for supply and installation Bambhori,
of water distribution network in Tanzania. In Jan 2016, Jain Irrigation launched its first branded Jalgaon - 425001, Maharashtra
retail product called AamRus under the brand name Jain FarmFresh. Website: www.jains.com

42,770.0 1,060.6 23,462.3 5,792.5 13.5 2.5 4.5
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 187
The Supreme Industries Net Profit 176
MP Taparia, Managing Director
Mr. Taparias View

The polymer prices hovered at a lower level during most part of the previous year. The polymer consumption in the country has grown by around
14% in volume terms close to two times GDP growth during the year ended Mar 31, 2016, such consumption driver growth has not been seen in the
last decade. The country has consumed around 13.7 mn tons of plastics in last year compared to around 12 mn tons in the previous year. The large
investment outlay in rural sector with an objective to strive doubling the farmers per capita income by 2022, along with large investments in roads,
railways and maritime economic activities will lead to creation of large number of jobs.This augurs well for the plastics growth in India and also for
the companys growth plan.

The Supreme Industries Ltd (Supreme), established in 1942, is the flagship company Total Income 42,636.3
of the Supreme Group. Supreme is primarily engaged in the manufacturing of plastic
products. The company handles a volume of over 320,000 tonnes of polymers annually. Net Profit 3,157.1
It has 25 production plants spread across the various states including; Punjab, WB, Networth 11,061.7
Maharashtra, Gujarat, Rajasthan, MP, TN, UP, Assam and the UT of Puducherry and EBIDTA 6,727.3
Silvassa.The company exports its products to 31 countries and has marketing office in
Ratios (%)
Sharjah, UAE.
EBIDTA Margin 15.8
The company has forayed in to different types of plastic processing technologies such NPM 7.4
as injection moulding, rotational moulding (ROTO), extrusion, blow moulding amongst
RONW 28.5
others. The company offers a wide range of plastic products with a variety of applications
(As on Jun 30, 2015)
in moulded furniture, storage & material handling products, XF films & products,
performance films, industrial moulded products, protective packaging products, Management Details
composite plastic products, plastic piping system & petrochemicals. The companys Chairman
products cater to all major segments, e.g. agriculture, infrastructure, housing, industrial BL Taparia
application, packaging, automobile, consumer appliances, civil & insulation among Managing Director
others. MP Taparia
Directors
Business Verticals SJ Taparia
Supreme is one of the leading plastic product manufacturing companies, with business VK Taparia
divisions as under:- BV Bhargava
NN Khandwala
Plastics Piping System: Supreme offers a wide array of cost-effective piping YP Trivedi
solutions, which find usage in the water & waste management and infrastructure R Khan
sectors. The company offers around 6,729 different types of pipes and fittings R Kannan
which are manufactured as per various national and international standards. Its RM Pandia
products are exported to over 20 countries worldwide including; UK and Australia.
During the financial year ending Mar-16, it introduced 55 nos. of injection moulded
pipe fittings. The company has plans of introducing 172 items of fittings by second/ Address & Website
third quarter of current year. The company has started the marketing of Supreme 612, Raheja Chambers
Flame Guard CPVC fire sprinkler system. Nariman Point
Mumbai - 400021
Cross laminated Films (XF) and Products: Under this division, Supreme offers Maharashtra
multilayered cross laminated U.V. stabilized films under the brand Silpaulin which Website
is used in various agricultural, industrial applications and for covering purpose. www.supreme.co.in
The company has a capacity to produce over 27,000 MTs of multilayered cross
laminated films p.a. It is manufactured as per IS 14611-1998 standards.
Moulded Furniture: Supreme is one of the leading manufacturer and supplier
of designer moulded plastic furniture which is made from 100% virgin polymers.
The company offers a vast range of plastic furniture in eight sub categories,
namely;upholsterd, premium monoblock chairs, monoblock chairs, armless chairs,

centre tables & trolley, dining tables, baby chairs and stools. Material Handling and Storage Products: Supreme offers a wide range
of material handling and storage products such as from small bins to super jumbo crates, injection moulded and rotomoulded
pallets, injection moulded and rotomoulded garbage bins. These products are manufactured using computer designed moulds
from its 6 plants located across the country.
Protective Packaging Products: Supreme offers customised packaging solutions to prevent damages during transit including
breakages, scratches, dents, abrasions and corrosion. It also offers customized products such as corrosion resistant, anti-static,
UV resistant and metal laminated foam & bubble films, besides EPDM and a range of other specialty rubber foams.
Performance Films: Supreme manufactures co-extruded multi-layer barrier films (upto 7 layers) with over 10,000 MTPA capacity.
It is accredited with ISO 9001:2008 as well as BRC-IOP certification. Its various applications includes, vacuum packing, gas flushing,
hot filling, pasteurization, sterilization, MAP, freezing, chilling and thermoforming.
Composite LPG Cylinder: Supremes state of the art composite LPG cylinder facility at Halol, Gujarat has annual installed capacity
of around 450,000 cylinders. Its manufacturing facility is accredited with ISO 9001- 2008, 14001: 2004 + COR. 1:2009 and OHSAS
18001:2007 certifications. This product is marketed under the brand name Kavach.
Industrial Components: The industrial products division supply plastics parts and assemblies to various industry segments like
electronics, engineering, auto-motive, textile, fisheries, fruits & vegetable handling, dairy products handling and many more.
Its comprehensive product range starts from small bins to Super Jumbo Crates, Injection moulded and Roto moulded Pallets,
Injection moulded and Roto moulded Garbage bins.
Petrochemicals: The company operates in this segment through Supreme Petrochem Ltd. plants are located at Amdoshi,
Maharashtra and Manali in Tamil Nadu. It has a fully automated DCS controlled plant with a capacity of 255,000 TPA of polystyrene.
The unit also manufactures compounded polymers, EPS normal and food grade & Extended Polystrene Foam Board.
Key Developments
Supreme during the year has set up two units in Kharagpur, WB and Malanpur near Gwalior in MP. The Kharagpur unit is producing
PVC, PE & CPVC Pipes, Protective Packaging Products and new category of Plastics Furniture and varieties of Roto Moulded
product; while the Malanpur unit is producing varieties of Roto moulded products.
During the yearcomprising of nine months, the company sold 235, 306 tons of plastic products as against 207,886 tons in the
same period of previous year.
The company exported goods worth US $8.42mn as against US $9.42mn in the corresponding period of the previous year.
The company has increased the share of its branded turnover from 80.70% in June-15, to 82.67% in Mar-16.
It enhanced its presence through channel partners which stood at 2,469 in June 2015 to 2,699 in Mar 2016.
Under the plastic piping segment, the company introduced its product range of septic tanks in India and received encouraging
response.
Supremes Product Portfolio

Sintex Industries Limited
About the Company
Sintex Industries Ltd (Sintex), a part of Sintex Group was incorporated in 1931. Sintexs business can Top 500 Ranking
be categorized into three segments viz. building products, custom mouldings and textile. Under Income 190
building products, the company manufactures and specializes in prefab, monolithic, water tanks,
storage tanks, doors and windows. Under custom moulding, the company undertakes moulding Net Profit 129
and post moulding operations in fabrication techniques, assembly lines, paint lines and prototyping, Networth 126
R&D and tool design which finds application in industries like medical, transportation, defense,
aerospace, automotives, electronics, telecommunications and mass transit amongst others. The Address
companys textile business manufactures blended high-end shirting like cotton-linen, cotton-silk, Near Seven Garnala,
cotton-lycra and cotton linen- lycra along with fabrics with surface finishes like peaching, razing, Kalol - 382721, Gujarat
brushing, among others. Sintex has global presence spanning 9 countries across Europen, American, Website: www.sintex.in
African, and Asian markets including countries like France, Germany and US. In FY15, Sintexs wholly
owned subsidiary, Sintex NP SAS, France acquired Groupe Simonin France making it a step sown
subsidiary of the company.

41,182.4 4,793.1 42,245.5 9,741.0 23.7 11.6 11.3
(As on Mar 31, 2015)
Finolex Industries Limited

About the Company
Finolex Industries Ltd (Finolex Industries), a Finolex group company was incorporated in 1981. Top 500 Ranking
In 1985, the company ventured into Ringfit pressure pipes and in the year it launched lead free Income 269
plumbing pipes. It mainly operates under three business segments namely PVC pipes and fittings,
PVC resin and power. The pipes and fittings segment manufactures PVC-U pipes and fittings for Net Profit 322
diverse applications in agriculture, housing, telecom etc. The PVC resin division manufactures Networth 334
suspension PVC and emulsion PVC resins. Finolex Industries operates four manufacturing facilities,
one at Masar in Gujarat, two at Pune and one at Ratnagiri in Maharashtra. The company has pan Address
India distribution network with more than 15,000 touch points. The company primarily caters to Gat No 399,
agricultural segment with almost 70% products catering to the agricultural industry. During FY15, Village Urse,
the company produced 235,049 MT of PVC resin and 185,670 MT of PVC pipes and fittings. The Taluka Maval,
company has PVC pipe and fittings production capacity of 250,000 MT, PVC resin production Pune - 410506, Maharashtra
capacity of 272,000 MT and captive thermal power plant capacity of 43 MW. Website: www.finolex.com

24,963.9 821.6 7,844.8 1,785.6 7.2 3.3 10.5
(As on Mar 31, 2015)
Nilkamal Limited
About the Company
Nilkamal Ltd (Nilkamal) was established in 1950 as National Plastics. Nilkamal operates its business Top 500 Ranking
in three divisions viz. plastic division, mattress division and lifestyle furniture, furnishings and Income 340
accessories division. Under plastic segment, Nilkamal manufactures injection moulded plastic
articles, polymers and others. In the furniture segment, the company manufactures home furniture, Net Profit 379
home furnishing and accessories. Under mattress division, it manufactures mattresses in spring, coir Networth 399
and foam with four types of firmness. The company also manufactures material handling products
such as crates and plastic waste bins. Nilkamal has nine manufacturing plants located at WB, TN, Address
J&K, D&NH, UP, Puducherry and Maharashtra. Nilkamal operates 23 Nilkamal Home Idea stores Survey No.354/2 and 354/3,
along with over 40 depots and 1,000 channel partners on a pan India basis as well as 10 DODOs Near Rakholi Bridge,
across various regions. The company also has 19 @home, mega home stores spread across 13 cities Silvassa Khanvel Road, Vasona,
covering a retail space of over 0.3 mn sq ft. In FY15, the companys @home store forayed into solid Silvassa - 396230, D&NH
wood furniture segment. Website: www.nilkamal.com

17,929.1 424.6 4,904.1 1,431.3 8.0 2.4 8.7
(As on Mar 31, 2015)

Kkalpana Industries (India) Limited
About the Company
Kkalpana Industries (India) Ltd (KIL), formerly known as Kalpena Industries Ltd was incorporated Top 500 Ranking
in 1985. In Mar 2015, the company acquired its present name. KIL is a part of Kalpena Group. Income 345
KIL is engaged in manufacturing of PE compounds, PVC compounds, engineered thermoplastics,
filled compounds, footwear compounds, pipe compounds, printing inks, adhesives, resins and Net Profit 413
masterbatches amongst others. Some of its offerings include; PE jacketing, natural insulation, zero Networth 477
halogen FRLS compound, semiconducting compunds, insulation, sheating, calcium carbonate in
PE, talc filled PP, PVC, TPR, EVA, PEX, rigid PVC, adhesives, resins and color masterbatches among Address
others. It caters to cable industries, packaging industries and footwear industries. The company 2B, Pretoria Street,
operates plants located at WB, Daman, Dadra and Bisra. The company markets its products to Kolkata -700071, WB
countries like Algeria, Argentina, Bangladesh, Brazil, Croatia, Egypt, Saudi Arabia, Sri Lanka, Nepal, Website: www.kkalpanagroup.com
Oman and Portugal amongst others. In FY15, KIL commissioned new production unit at Surangi with
the product handling capacity of 200,000 MTPA.

17,292.6 291.2 2,301.4 545.5 3.2 1.7 12.7
(As on Mar 31, 2015)
Responsive Industries Limited

About the Company
Responsive Industries Ltd (Responsive Industries) was incorporated as Sinhal Holdings Ltd in 1982. In Top 500 Ranking
1996, the companys name was changed to Responsive Polymers and further in 2007, it acquired its Income 374
present name. Responsive Industries is primarily engaged in manufacturing of PVC based products
like PVC leather cloth, PVC flooring, PVC sheeting and PVC rigid. The products portfolio of the Net Profit 400
company includes PVC flooring, automotive upholstery solutions, FMCG, pharmaceutical packaging Networth 390
and transparent sheeting. Responsive Industries serve multiple industries comprising healthcare,
hospitality, transportation, IT and telecom, retail, education, sports infrastructure and real estate. Address
Some of the major clients of responsive Industries include Indian Railways, RIL, Ashok Leyland, Village Betegaon,
Eicher Motors, Tata, Marcopolo, Mercedes Benz, Indian Navy, seven Hills Hospital and Future group Mahagaon Road,
among others. The companys manufacturing facility is located in Boisar, Maharashtra. Responsive Boisar (E),
Industries has global presence in over 70 countries across the globe serving various sectors such Thane - 401501, Maharashtra
as healthcare, hospitality, transportation, it and telecom, retail, education, entertainment, hotels, Website: www.responsiveindustries.com
restaurants, sports infrastructure, offices, commercial spaces and real estate.

15,351.0 331.9 5,442.7 1,941.3 12.6 2.2 6.1
(As on Mar 31, 2015)
Astral Poly Technik Limited

About the Company
Astral Poly Technik Ltd (APTL) was incorporated in 1999 to manufacture plumbing and drainage Top 500 Ranking
system. The company is engaged in the business of manufacturing of PVC and CPVC pipes and Income 428
fittings. Some of the products manufactured by APTL include Astral Alca Plast, Astral Blazemaster,
Astral Column Pipe, Astral Flowguard Plus and Astral Aquasafe amongst others. APTL operates four Net Profit 342
manufacturing facilities located at Ahmedabad and Dholka in Gujarat, Baddi in HP and Hosur in Networth 367
TN. As on Mar 31, 2015, the company had an installed capacity of 102,371 MT of pipes. During
FY15, the company acquired controlling stakes in Seal IT Services Ltd, UK for the manufacturing Address
of comprehensive range of sealants, adhesives, building chemicals and allied products under the Astral House,
brand name Bond-it. The company also acquired controlling stake in Resinova Chemie Ltd for the 207/1, B/h Rajpath Club,
manufacturing and marketing of a highly diversified range of adhesives and sealants and allied Off S. G. Highway,
products under different brand name viz. Bondtite, Resibond, Bondset, Solvobond, Vetra, Brush Ahmedabad - 380059, Gujarat
bond and Zesta etc. The company has extensive distribution channel of 750+ Distributors and Website: www.astralpipes.com
21,000+ Dealers across India.

12,551.5 688.4 6,118.4 1,407.1 11.2 5.5 11.3
(As on Mar 31, 2015)

INEOS Styrolution India Limited
About the Company
INEOS Styrolution India Ltd (INEOS Styrolution), formerly known as Styrolution ABS (India) Ltd, was Top 500 Ranking
incorporated in 1973 under the name of ABS Plastics Ltd. In June 2014, INEOS signed an agreement Income 443
with BASF to buy out the BASFs 50% stake in Styrolution. The amalgamation was completed by
Mar 2016, and subsequently acquired its present name. The company is a leading manufacturer of Net Profit 416
ABSOLAC (ABS) which is a plastic resin produced from acrylonitrile, butadiene & styrene, used for Networth 397
manufacturing of home appliances, automobiles, consumer durables and business machines. It also
manufactures ABSOLAN (SAN), a polymerized plastic resin produced from Styrene & Acrylonitrile, Address
used for products such as lightings, stationeries, novelties, refrigerators and cosmetic packing. 6th Floor,
It operates manufacturing facilities in Nandesari, Moxi and Katol in Gujarat. During FY15, the ABS Towers,
company launched launch two new products including; Novodur HH and Luran S in the Automotive Old Padra Road,
industry. Vadodara - 390007, Gujarat
Website: www.styrolutionabsindia.com

11,743.8 280.2 5,030.1 685.6 5.8 2.4 5.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

P ower
Power
Comparative Matrix

Company Name
1 NTPC Limited 753,623.7 100,807.3 813,648.1 13.4 12.4
2 Power Grid Corporation of India Limited* 177,800.4 49,780.9 371,716.0 28.0 13.4
3 PTC India Limited 131,493.6 2,351.8 26,377.8 1.8 8.9
4 Reliance Infrastructure Limited 120,982.1 15,333.9 206,767.8 12.7 7.4
5 Adani Power Limited* 110,370.1 (2,805.0) 76,026.9 (2.5) (3.7)
6 Torrent Power Limited 105,969.2 7,650.5 69,011.7 7.2 11.1
7 The Tata Power Company Limited 97,023.7 10,102.9 140,091.7 10.4 7.2
8 NHPC Limited 76,635.8 20,533.0 273,308.2 26.8 7.5
9 Neyveli Lignite Corporation Limited 67,969.7 12,122.3 148,713.9 17.8 8.2
10 JSW Energy Limited 66,256.5 10,287.8 75,859.9 15.5 13.6
11 CESC Limited 62,736.0 6,977.2 71,162.6 11.1 9.8
12 Jaiprakash Power Ventures Limited 40,619.2 1,322.1 63,794.3 3.3 2.1
13 SJVN Limited 32,611.0 18,090.3 102,028.2 55.5 17.7
14 Gujarat Industries Power Company Limited 12,578.8 1,448.2 18,309.2 11.5 7.9

NTPC Limited
About the Company
NTPC Ltd (NTPC), a Maharatna enterprise was incorporated in Nov 1975, as National Thermal Power Top 500 Ranking
Corporation Ltd. In 2005, the company acquired its present name. In May 2010, NTPC was conferred Income 8
with the Maharatna status. NTPC is primarily engaged in generation and sale of bulk power. Other
business of NTPC includes providing consultancy, project management and supervision, oil and gas Net Profit 10
exploration and coal mining. During FY15, the company added 1,290 MW capacity taking the total Networth 4
installed capacity of the company to 44,398 MW which include 18 coal-based, seven combined
cycle gas/liquid fuel based, seven JV stations and eight renewable energy projects. Of the total Address
installed capacity, NTPC directly owns 38,202 MW of capacity while the remaining 6,196 MW is NTPC Bhawan,
owned indirectly through subsidiaries and JVs. During FY15, the company forayed in to hydro- Scope Complex, 7,
generation with the commissioning of two units of 200MW each. The company also commissioned Institutional Area, Lodi Road,
solar plants for 35 MW each. During FY15, the company generated 241.26 BUs of electricity which New Delhi - 110003, Delhi
was 23.12% of total power generated in India. Website: www.ntpc.co.in

753,623.7 100,807.3 813,648.1 180,977.6 24.0 13.4 12.4
(As on Mar 31, 2015)
Power Grid Corporation of India Limited

About the Company
Power Grid Corporation of India Ltd (PGCIL) was incorporated in Oct 1989 as National Power Top 500 Ranking
Transmission Corporation Ltd and acquired its present name in Oct 1992. PGCIL has been conferred Income 56
the status of a central transmission utility in 1998 and Navratna in 2008. PGCIL is engaged in
construction, operation & maintenance of inter-state transmission system. The company also owns Net Profit 21
and operate around 36,563 km of telecom network and also provides consultancy services in the Networth 18
field of engineering, procurement & construction within and outside India. As on Jan 31 2016, the
company owned and operate 128,079 Ckm of EHV transmission lines and 205 sub-stations with Address
around 249,164 MVA transformation capacities. In Apr 2015, PGCIL under tariff based competitive B-9, Qutab Institutional Area,
bidding, acquired Gadarwara (A) Transco Ltd and Gadarwara (B) Transmission Ltd, SPVs to establish Katwaria Sarai,
the transmission system for 1600 MW NTPC (Part-A) and 1600 MW NTPC (Part-B) on BOOM basis. New Delhi - 110016, Delhi
In Oct 2015, PGCIL incorporated a wholly owned subsidiary under the name Grid Conductors Ltd to Website: www.powergridindia.com
manufacture aluminium and aluminium alloy electricity conductors.

177,800.4 49,780.9 371,716.0 150,801.4 84.8 28.0 13.4
(As on Mar 31, 2015)
PTC India Limited

About the Company
PTC India Ltd (PTC), formerly known as Power Trading Corporation of India Ltd was incorporated in Top 500 Ranking
1999 by GoI as a PPP to purchase power from major power generation projects and sell to multiple Income 69
power utilities and other buyers. The company is jointly held by NTPC, PGCIL, PFC, NHPC and other
power entities and financial institutions. PTC is primarily involved in power trading activities in the Net Profit 202
domestic market as well as in cross border power trading operations with Nepal and Bhutan. In Networth 164
FY15, PTCs domestic trading volume stood at 37,137 MU registering a y-o-y growth of 6%. In FY15
PTC entered into PPA with Tangsibji Hydro Energy Ltd for about 118 MW power from itd Nikachu HPP Address
being developed in Bhutan, through a competitive bidding process. During the year, PTC also signed 2nd Floor,
MoUs with number of project developers for purchase of power aggregating to approximately NBCC Tower, 15,
120 MW taking the cumulative MoUs aggregating to around 8,500 MW based on domestic coal, Bhikaji Cama Place,
imported coal, wind and hydro resources as on Mar 31 2015. New Delhi - 110066, Delhi
Website: www.ptcindia.com

131,493.6 2,351.8 26,377.8 3,061.6 2.3 1.8 8.9
(As on Mar 31, 2015)

Reliance Infrastructure Limited
About the Company
Reliance Infrastructure Ltd (RInfra), a Reliance Group company, was incorporated in 1929. The Top 500 Ranking
company has presence across the value chain of power business i.e. generation, transmission, Income 70
distribution, and trading. RInfra also provides EPC services for developing power and road projects.
RInfra is also engaged in implementation, operation and maintenance of several projects through Net Profit 57
SPVs in various infrastructural areas. The company along with its subsidiary operates five power Networth 40
stations with aggregate generating capacity of 941 MW of power located across the states of
Maharashtra, AP, Kerala, Karnataka and Goa. The order book position of the EPC & Contracts division Address
of the company stood at ` 50.5 bn as on Mar 31 2015. In FY15, the company had a customer base H Block, 1st Floor,
of 2.94 mn. In Nov 2015, the company signed non-binding term sheet with Public Sector Pension Dhirubhai Ambani Knowledge City,
Investment Board of Canada for investment in its Mumbai power distribution business. In Feb 2016, Navi Mumbai - 400710, Maharashtra
RInfra signed final binding agreement with Birla Corporation Ltd for sale of its cement plant of 5.08 Website: www.rinfra.com
MTPA.

120,982.1 15,333.9 206,767.8 35,067.7 29.0 12.7 7.4
(As on Mar 31, 2015)
Adani Power Limited

About the Company
Adani Power Ltd (Adani Power) is a subsidiary of Adani Enterprises Ltd. The company is primarily Top 500 Ranking
engaged in power generation through thermal and solar energy. Adani Power is currently operating Income 81
an aggregate 10,440 MW generation capacity comprising of 4,620 MW at Mundra in Gujarat, 3,300
MW at Tiroda in Maharashtra and 1,320 MW at Kawai in Rajasthan. The company sells power Net Profit 494
generated under a combination of long term power purchase agreement and on merchant basis. Networth 87
During FY15, the companys transmission lines business got transferred into its wholly owned
subsidiary Adani Transmission (India) Ltd. During the year, Adani Power generated 50.7 BU of power Address
as compared to 40.1 BU in FY14. In FY15, Adani Power signed a definitive share purchase agreement Shikhar, Near Adani House,
for acquisition of Avantha Powers 600 MW Korba West Power Plant in Chattisgarh. In Apr 2015, the Mithakhali Six Roads,
company completed acquisition of Lanco Infratechs 1200 MW Udupi Power Plant and in Dec 2015 Navrangpura,
it incorporated a wholly owned subsidiary namely Adani Power (Jharkhand) Ltd. Ahmedabad - 380009, Gujarat
Website: www.adanipower.com

110,370.1 (2,805.0) 76,026.9 28,092.3 25.5 (2.5) (3.7)
(As on Mar 31, 2015)
Torrent Power Limited

About the Company
Torrent Power Ltd (Torrent), part of Torrent Group, forayed into power sector in the year 1990 by Top 500 Ranking
acquiring and subsequently renaming Mahendra Electricals as Torrent Cables Ltd. In 2004-05, the Income 85
three group companies namely; Torrent Power AEC Ltd, Torrent Power SEC Ltd and Torrent Power
Generation Ltd were merged to form Torrent. Torrent is an integrated utility company engaged in the Net Profit 95
business of power generation, transmission and distribution with operations in the states of Gujarat, Networth 93
Maharashtra and UP. Torrent has power plants in Surat, Ahmedabad and Dahej areas of Gujarat. It
also operates a wind power plant at Jamnagar, Gujarat. In FY15, the company commissioned a 51 Address
MW solar power plants in Patan, Gujarat through its subsidiary company namely; Torrent Solargen Torrent House,
Ltd. In Dec 2014, the company commissioned its 1200 MW green-field power generation plant, Off Ashram Road,
taking its total generation capacity to 3250 MW. In Sep 2015, the company won letter of award from Ahmedabad - 380009, Gujarat
Ministry of Power for allocation of gas for six months. During the same period, the company merged Website: www.torrentpower.com
Torrent Energy Ltd and Torrent Cables Ltd with itself.

105,969.2 7,650.5 69,011.7 23,586.6 22.3 7.2 11.1
(As on Mar 31, 2015)

The Tata Power Company Limited
About the Company
The Tata Power Company Ltd (Tata Power), formerly known as Tata Electric was established in Top 500 Ranking
1919. In 2000, Andhra Valley Power Supply Company Ltd and Tata Hydro-Electric Power Supply Income 97
Company Ltd were merged with Tata Power. The company is primarily engaged in generation,
transmission, distribution-cum-retail, power trading, power services, coal mines and logistics, Net Profit 79
strategic engineering for defence applications, solar photovoltaic manufacturing and associated Networth 55
project management services. Tata Power is engaged in electricity generation through various fuel
sources including thermal, hydroelectric renewable energy and waste heat recovery. As of 31st Address
March 2015, the Tata Power Group of companies had an operational generation capacity of 8,726 Bombay House, 24,
MW. In FY15, the company generated 11,974 MUs of power from its power plants. In FY15, Tata Homi Mody Street,
Power entered into SPA with Tata Africa Holdings (SA) (Pty) Ltd for acquisition of their stake in 120 Mumbai - 400001, Maharashtra
MW Itezhi Tezhi hydro power project in Zambia. In Dec 2015, Tata Power signed MoU with the Website: www.tatapower.com
Ministry for Development of Russian Far East to increase energy investments between India and
Russia.

97,023.7 10,102.9 140,091.7 30,550.5 31.5 10.4 7.2
(As on Mar 31, 2015)
NHPC Limited
About the Company
NHPC Ltd (NHPC), a Miniratna Category-I GoI enterprise, was incorporated in 1975 to promote Top 500 Ranking
hydroelectric power in India. NHPC is primarily engaged in power generation and also provides Income 118
contracts services, project management and consultancy services to Central and State Govt.
agencies in India and abroad. NHPC owns and operates 18 hydro power stations with a power Net Profit 44
generation capacity of 4,961.20 MW. As on Mar 31, 2015 NHPCs four hydroelectric projects with an Networth 30
installed capacity of 3,290 MW were under construction. NHPC is implementing RGGVY under which
it has electrified 9,073 un-electrified / de-electrified villages, 18,825 partially electrified villages Address
and provided connections to 1.63 mn BPL households till Mar 31 2015. In FY15, NHPC generated NHPC Office Complex,
22,038 MUs of power through its power stations across the country. The company is diversifying Sector-33,
into thermal, wind and solar power projects as well. In FY15, the company was awarded an EPC Faridabad - 121003, Haryana
contract for establishing a 50 MW wind power project at Jaisalmer, Rajasthan. In Feb 2016, the Website: www.nhpcindia.com
company entered into a MoU with MAHAGENCO/ Government of Maharashtra for development of
50MW Grid connected solar power projects in Maharashtra during 2016-17.

76,635.8 20,533.0 273,308.2 57,321.6 74.8 26.8 7.5
(As on Mar 31, 2015)
Neyveli Lignite Corporation Limited

About the Company
Neyveli Lignite Corporation Ltd (NLC) was incorporated in 1956 by GoI. As on Mar 31, 2015, GoI Top 500 Ranking
holds around 90% stake in NLC. The company has been conferred with the status of Navratna by Income 127
GoI. NLC is engaged in the mining and production of lignite and thermal power generation. The
company operates four lignite mines; three at Neyveli, TN and one at Barsingsar, Rajasthan. These Net Profit 68
mines have total mining capacity of 30.60 MTPA. In FY15, it achieved lignite production of 265.43 LT. Networth 52
In the power segment, it operates five pithead thermal power stations with an aggregate capacity
of 3240 MW. In FY15, power generation stood at 19729.13 MU, with average PLF at 81.36%. In July Address
2015, Unit-I & II under its TPS-II Expansion project were commissioned successfully and generated First Floor, No.8, Mayor Sathyamurthy Road,
199.57 MU of power. It has also entered the renewable energy space with establishment of a 10 FSD, Chetpet,
MW solar photo voltaic power plant in Neyveli. Chennai-600031, TN
Website: www.nlcindia.com

67,969.7 12,122.3 148,713.9 29,725.1 43.7 17.8 8.2
(As on Mar 31, 2015)

JSW Energy Limited
About the Company
JSW Energy Ltd (JSW Energy), a JSW Group company, was incorporated in 1994. JSW Energy is an Top 500 Ranking
integrated power company with presence across power generation, transmission and trading. The Income 131
company has operational capacity of 3140 MWs through its plants across Bellary in Karnataka;
Ratnagiri in Maharashtra and Barmer in Rajasthan. In FY15, the company achieved a net generation Net Profit 78
of 20.31 bn units with a PLF of 84.05%. The company also has presence in mining and equipment Networth 89
manufacturing segments. It has alliances with Rajasthan State Mines and Minerals Ltd (RSMML)
for lignite mines in Barmer, Rajasthan and also owns coal mines in South Africa. JSW operates a JV Address
with Toshiba Corp Ltd, which is engaged in the design, manufacture, marketing and maintenance of JSW Centre,
mid to large-size supercritical steam turbines and generators. In FY15, the company was accorded Bandra Kurla Complex,
environmental Clearance for the enhancement of mining capacity at Kapurdi Lignite Mines from Bandra (E),
3.75 MTPA to 7 MTPA for a period of four years. Further, it is implementing a 240 MW run-of-the Mumbai - 400051, Maharashtra
-river, hydroelectric power project at Kutehr, HP. Website: www.jsw.in

66,256.5 10,287.8 75,859.9 22,471.7 33.9 15.5 13.6
(As on Mar 31, 2015)
CESC Limited
About the Company
CESC Ltd (CESC) was incorporated in 1978. It is a flagship company of the RP-Sanjiv Goenka Group. Top 500 Ranking
The company is a fully integrated power utility engaged in the generation and distribution of Income 134
electricity across 567 sq kms in Kolkata and Howrah, WB. CESC operates with three generation
stations: Budge Budge, Southern and Titagarh, which cumulatively produce 1,125 MW of electricity. Net Profit 99
Budge Budge operates with three units of 250 MW each, while Southern comprises of two units of Networth 91
67.5 MW each. Titagarh comprises of four units of 60 MW each. In FY15, the combined generation
capacity of these plants stood at 8,527 Mus and added 1.3 lakh customers. During the same period, Address
it ventured into the wind power and solar power business through its subsidiaries, Surya Vidyut Ltd CESC House,
and Crescent Power Ltd respectively. In FY15, it also commissioned a 2*300 MW coal fired thermal Chowringhee Square,
power project in Haldia, WB. The company operates in the organized retail segment through Kolkata - 700001, WB
Spencers Retail Ltd and Au Bon Pain Caf India Ltd, and in the real estate segment through CESC Website: www.cesc.co.in
Properties Ltd.

62,736.0 6,977.2 71,162.6 16,505.8 26.3 11.1 9.8
(As on Mar 31, 2015)
Jaiprakash Power Ventures Limited

About the Company
Jaiprakash Power Ventures Ltd (JPVL), a part of Jaypee Group was incorporated in 1994. The Top 500 Ranking
company undertakes planning, development, implementation and operations of power projects Income 191
in India. Currently, JPVL operates three operative HPPS and two operative TPPs which includes 300
MW Baspa-II HPP in HP; 400 MW Vishnuprayag HPP in Uttarakhand; 1,091 MW Karcham Wangtoo Net Profit 265
HPP in HP; 500 MW phase I Jaypee Bina TPP in MP and 1,320 MW Jaypee Nigrie STPP in MP. Networth 99
The company through its subsidiary Jaypee Arunachal Power Ltd is implementing two projects in
Arunachal Pradesh. The company has also acquired stake in Jaypee Powergrid Ltd which developed Address
a 214 km long power transmission project to evacuate power from the Karcham Wangtoo project. Juit Complex,
In FY15, JPVL signed a definitive agreement with JSW Energy Ltd for the sale of two HPPs namely Waknaghat,
300 MW Baspa II HPP and 1,091 MW Karcham Wangtoo HPP. During the year the company also P.O. Dumehar Bani,
signed MoU with Reliance Power Ltd for divestment of three HPPs Baspa II, Vishnuprayag HPP and Kandaghat, Solan - 173215, HP
Karcham Wangtoo HPP. Website: www.jppowerventures.com

40,619.2 1,322.1 63,794.3 26,377.2 64.9 3.3 2.1
(As on Mar 31, 2015)

SJVN Limited
About the Company
SJVN Ltd (SJVN), a Miniratna company, was incorporated in 1988 as a JV between GoI and the Govt Top 500 Ranking
of HP. SJVN is rimarily engaged in generation and sale of power. The Nathpa Jhakri Hydro - Electric Income 225
Power Station (NJHPS) was the first project undertaken by SJVN for execution. The company has
projects in HP, Uttarakhand, Arunachal Pradesh, Nepal and Bhutan under execution. The company Net Profit 50
also operates 412 MW Rampur hydro electric project (RHPS) which distributes power to the states Networth 76
of HP, Haryana, J&K, Punjab, Rajasthan, UP and Uttarakhand. During the same period, SJVNs 1500
MW NJHPS plant generated 6838 MUs and achieved PAF of 105.5%. During the same period, RHPS Address
generated 1,257.5 MU of power and its wind power project generated 40.5 MU of power. In FY15, Himfed Building,
the company signed Memorandum of Agreement for the implementation of 80 MW Doimukh New Shimla,
hydro electric project in Arunachal Pradesh. In Jun 2015, SJVN incorporated a JV under the name Shimla - 171009, HP
Kholongchhu Hydro Energy Ltd to implement 600 MW Kholongchhu hydro electric project in Website: www.sjvn.nic.in
Bhutan.

32,611.0 18,090.3 102,028.2 27,262.3 83.6 55.5 17.7
(As on Mar 31, 2015)
Gujarat Industries Power Company Limited

About the Company
Gujarat Industries Power Company Ltd (GIPCL) was incorporated in 1985 by Govt of Gujarat. Top 500 Ranking
The company was jointly promoted by GUVNL, GSFC, GACL and Petrofils Cooperative Ltd. GIPCL Income 426
is engaged in electrical power generation. GIPCL operates five power plants with a combined
capacity of 815 MW comprising 145 MW Vadodara Station-I; 165 MW Vadodara Station- II; Surat Net Profit 254
Lignite Power Plant (SLPP) Station Phase-I and Phase-II with 250 MW capacity each and a five MW Networth 214
photovoltaic solar power station at Surat. GIPCL also operates two mining blocks for the captive
supply of lignite located at Gujarat. In FY15, GIPCLs Vadodara station-I and station-II generated Address
679.9 MU and 38.3 MU of power at a PLF of 53.3% and 2.7% respectively. During the same year, P.O. Petrochemicals,
SLPP station phase-I and phase-II generated 1,424.9 MU and 1,841.6 MU of power at a PLF of 65.1% Vadodara - 391346, Gujarat
and 84.1% respectively. In Feb 2016, GIPCL issued Letter of Intent to Suzlon Energy Ltd, Chennai for Website: www.gipcl.com
installation of 71.4 MW wind energy farm project in Gujarat.

12,578.8 1,448.2 18,309.2 4,402.0 35.0 11.5 7.9
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

P ower E q uipment
Power Equipment
Comparative Matrix

Company Name
1 Crompton Greaves Limited 80,163.2 4,710.9 38,939.9 5.9 12.1
2 ABB India Limited 77,505.5 2,285.1 26,964.6 2.9 8.5
3 Bharti Infratel Limited 73,843.0 27,252.0 179,542.0 36.9 15.2
4 KEC International Limited 67,695.0 1,107.4 9,825.4 1.6 11.3
5 Kalpataru Power Transmission Limited 44,744.8 1,656.1 20,681.7 3.7 8.0
6 Alstom T&D India Limited 37,221.0 1,205.7 13,113.4 3.2 9.2
7 Sterlite Technologies Limited* 30,988.8 842.4 12,337.4 2.7 6.8
8 Diamond Power Infrastructure Limited@ 24,330.4 (857.3) 8,436.4 (3.5) (10.2)
9 ALSTOM India Limited 22,475.2 1,284.8 9,736.1 5.7 13.2
10 BS Limited 19,105.0 685.8 5,525.2 3.6 12.4

Crompton Greaves Limited
About the Company
Crompton Greaves Ltd (CG) was incorporated in 1937. The company is one among the leading Top 500 Ranking
engineering corporation and is engaged in management and application of electrical energy. CG Income 114
manufacturing units are spread across the globe in Belgium, Canada, Hungary, Indonesia, Ireland,
France, UK and the US. In addition, CG also has 22 manufacturing locations in India. The companys Net Profit 133
product and services are broadly classified in three categories: power systems, industrial systems and Networth 132
consumer products. Power system includes the business area related to transformers, switchgear,
circuit breakers, vacuum interrupters, network protection and control gear. CGs industrial system is Address
engaged in the business of power conversion equipment a wider spectrum of high and low voltage C G House, 6th Floor,
rotating machines (motors and alternators), stampings, as well as railway transportation and Dr Annie Besant Road,
signalling products. Consumer system segment has wide range of products namely fans, lighting, Worli,
bulbs, home automation, integrated security system among others. In FY15, CGs order book stood Mumbai - 400030, Maharashtra
at ` 75.7 bn. In Oct 2015, the company demerged its consumer products division into Crompton Website: www.cgglobal.com
Greaves Consumer Electricals Ltd.

80,163.2 4,710.9 38,939.9 10,452.5 13.0 5.9 12.1
(As on Mar 31, 2015)
ABB India Limited

About the Company
ABB India Ltd (ABB), an ABB group company, was incorporated in 1949. In June 2013, it acquired Top 500 Ranking
its present name. ABB is engaged in manufacturing of power and automation technologies. ABB Income 116
operates in power system, power products, discrete automation and motion, process automation
and low voltage products business segments. The company operates 12 manufacturing sites across Net Profit 205
Bengaluru, Faridabad, Haridwar, Mumbai, Mysore, Nashik, Savli and Vadodara. Its product portfolio Networth 161
ranges from light switches to robots, and from huge electrical transformers to control systems. In
CY2014, the companys order backlog stood at ` 79.2 bn, with fresh orders growing by almost 18% Address
over the previous year. Its power products and power systems segment accounted for 27% and 26% 21St Floor, World Trade,
of the overall revenues in 2014. In Jul 2015, the company was awarded an ` 1.25 bn order by PGCIL Centre Brigade Getway,
for extension of three sub-stations in Vadodara, Manesar and Malerkotla. Additionally, it received No 26/1,
orders worth ` 1.19 bn for electrification, automation and substations to integrate 850 MW of solar Bengaluru - 560055, Karnataka
energy till Sep 2015. Website: www.abb.com

77,505.5 2,285.1 26,964.6 5,729.7 7.4 2.9 8.5
(As on Dec 31, 2014)
Bharti Infratel Limited

About the Company
Bharti Infratel Ltd (Bharti Infratel) was established in 2006 and commenced its business in the Top 500 Ranking
year 2007. In 2007, the company entered into JV with Vodafone India and Aditya Birla Telecom to Income 121
form a JV named Indus Towers Ltd. Bharti Infratel is a subsidiary of Bharti Airtel Ltd. The company
is involved in the business of providing telecom tower infrastructure. They acquire, build, own Net Profit 35
and operate towers and related infrastructure. Bharti Infratel along with Indus Towers provides Networth 45
access to their towers primarily to wireless telecommunication service providers on a shared basis
under long-term contracts. The company has a nationwide presence with operations in all 22 Address
telecommunication circles in India with both the company and Indus Towers having operations in Bharti Crescent,
four overlapping circles. As on Mar 31, 2015, the company owned and operated 37,196 towers with 1, Nelson Mandela Road,
75,819 co-locations in 11 telecommunication circles. Vasant Kunj, Phase - II,
New Delhi - 110070, Delhi
Website: www.bharti-infratel.com

73,843.0 27,252.0 179,542.0 43,973.0 59.5 36.9 15.2
(As on Mar 31, 2015)

KEC International Limited
About the Company
KEC International Ltd (KEC), a flagship company of RPG Group, was incorporated in 1945 for Top 500 Ranking
manufacturing, enameling and trading of hollowware. KEC is amongst the EPC players with Income 128
operations in five key verticals namely; power transmission & distribution, cables, railways,
renewables and water. With presence in more than 60 countries, it operates eight manufacturing Net Profit 287
facilities across India, Brazil and Mexico. In power transmission & distribution segment, KEC Networth 298
undertakes design, manufacture, test, supply and erection of transmission lines upto 1,200 KV,
installation of substations, distribution network, and HV/EHV cabling projects. The cable segment Address
manufactures wide range of power and telecom cables; while in the railway vertical, it undertakes RPG House, 463,
civil infrastructure, railway electrification and power systems among others. KEC has established a Dr. Annie Besant Road,
strong presence in the Water Resource Management (WRM) and Waste Water Treatment (WWT) Worli,
projects. It also caters to large solar PV projects developed by private players and roof-top PV Mumbai - 400030, Maharashtra
solutions for industrial and commercial consumers. In Oct 2015, it secured orders of ` 3.97 bn in the Website: www.kecrpg.com
transmission and distribution segment; ` 1.6 bn in cables; and ` 1.11 bn in renewables business.

67,695.0 1,107.4 9,825.4 5,006.8 7.4 1.6 11.3
(As on Mar 31, 2015)
Kalpataru Power Transmission Limited

About the Company
Kalpataru Power Transmission Ltd (KPTL), a Kalpataru Group company, was incorporated in 1981 Top 500 Ranking
and commissioned its first tower manufacturing plant in 1983. KPTL is an EPC contracting company Income 179
with a diversified portfolio having presence in over 40 countries across Asia, Middle East, Africa,
Americas, Australia and Europe. KPTL operates under two business segments viz. transmission & Net Profit 234
distribution (T&D) and infrastructure EPC. As on Mar 31, 2015 the order book of KPTL stood at Networth 197
` 51.5 bn comprising T&D order book of ` 43 bn and EPC order book of ` 8.5 bn. In Jan 2016, KPTL
acquired SPV namely Alipurduar Transmission Ltd (ATL) from REC Transmission Projects Company Address
Ltd. In Jan 2016, KPTL received new orders worth ` 12.6 bn comprising turnkey transmission line Plot No. 101, Part III,
project worth ` 2.4 bn from Nepal Electricity Authority; transmission tower supply project worth GIDC Estate, Sector 28,
` 470 mn from PGCIL; transmission line project worth ` 1.5 bn from IBN Omairah Contracting Gandhinagar - 382028, Gujarat
Company and transmission system strengthening project worth ` 8.6 bn from ATL. Website: www.kalpatarupower.com

44,744.8 1,656.1 20,681.7 4,749.0 10.6 3.7 8.0
(As on Mar 31, 2015)
Alstom T&D India Limited

About the Company
Alstom T&D India Ltd (Alstom T&D) was incorporated in 1957 as The English Electric Company of Top 500 Ranking
India (Pvt) Ltd. Alstom T&D is engaged in offering the infrastructure for power transmission and Income 207
distribution. The company provides an entire range of transmission equipment up to extra and
ultra-high voltages including air-insulated switchgear and locally manufactured power transformers Net Profit 276
and gas-insulated switchgear. It also provides power electronics solutions and offers highly Networth 260
advanced powermanagement Smart Grid solutions for transmission and distribution including
renewable energies integration. The company operates manufacturing facilities across the states Address
of TN, UP and AP. As on Mar 2015, the order book position of the company stood at ` 81.3 bn. In A-18, First Floor,
FY15, it bagged orders from NTPC, Rajasthan Rajya Vidyut Prasaran Nigam Ltd, PGCIL, and Bhutan- Okhla Industrial Area,
based Mangdechhu Hydroelectric Project Authority. In Aug 2015, the company received three Phase II,
new contracts worth ` 2.3 bn from PGCIL to supply transformers and reactors for sub-station at New Delhi - 110020, Delhi
Agra and spare units of 765kV transformers and reactors as part of eastern and southern region Website: www.alstom.com/india
strengthening schemes.

37,221.0 1,205.7 13,113.4 3,160.5 8.5 3.2 9.2
(As on Mar 31, 2015)

Sterlite Technologies Limited
About the Company
Sterlite Technologies Ltd (Sterlite Technologies) was incorporated in 2000 pursuant to demerger of Top 500 Ranking
Sterlite Industries (India) Ltd. In 2006, Sterlite Technologies ventured into power conductors business Income 234
and in 2010 it ventured into power grid and FTTx infrastructure business. Sterlite Technologies is
engaged in providing transmission solution for two segments viz. telecom and power. Telecom Net Profit 317
products and solutions include integrated optical fiber, fiber optical cables, copper telecom cables, Networth 272
structured data cables, access equipments, fiber connectivity and system integration solutions.
It is also engaged in design, engineering, implementation and maintenance of OFC network. The Address
companys power products and solutions primarily include power transmission conductors and E1, MIDC Industrial Area,
cables. In FY15, Sterlite Technologies optical fiber volume grew to 13.1 mn-fk and it sold 4.5 mn- Waluj,
fkm through its China based subsidiary. In FY15, the volume of power transmission products of Aurangabad - 431136, Maharashtra
the company stood at 77,996 MT. In Sep 2015, Sterlite Technologies completed 100% acquisition Website: www.sterlitetechnologies.com
of Elitecore Technologies Pvt Ltd, a global telecom software product company from First Carlyle
Ventures Mauritius.

30,988.8 842.4 12,337.4 3,329.2 10.7 2.7 6.8
(As on Mar 31, 2015)
Diamond Power Infrastructure Limited

About the Company
Diamond Power Infrastructure Ltd (DPIL) was incorporated in 1992. DPIL is an integrated solutions Top 500 Ranking
provider in power T&D space in India. Primarily established as a conductor manufacturer, DPIL has Income 274
gradually expanded its market position across the value chain conductors, cables (LT, HT & EHV),
transformers (power and distribution), transmission towers and EPC services. It has three fully Net Profit 486
integrated manufacturing facilities located in Vadodara, Gujarat with in-house facilities for products Networth 323
such as core laminations, wire drawing, strip mill, winding as well as an in-house transformer oil
refinery. It also has more than 100 distributors across 16 states of Indian. It sells its products under Address
the established brand named Diatron. As on FY15, it had an installed capacity of 50,500 MTPA Phase II,
for manufacturing of all aluminum alloy conductors & ACSR conductors, 34,300 kms for LT electric Village Vadadala,
power cables & control cables, 5,600 kms for HT cables, 2,000 kms for EHV cables and 48,000 MTPA Tal. Savli,
for transmission towers. As per the companys FY15 annual report, the company restructured its Baroda - 391110, Gujarat
debts with financial institutions, banks and debenture holders during the year under review and the Website: www.dicabs.com
same was approved by Joint Lenders Forum JLF and Independent Evaluation Committee (IEC).

24,330.4 (857.3) 8,436.4 544.2 2.2 (3.5) (10.2)
(As on Mar 31, 2015)
ALSTOM India Limited

About the Company
ALSTOM India Ltd (ALSTOM) was established in 1992 as Asea Brown Boveri Management Ltd. Top 500 Ranking
In 2002, its name changed to ALSTOM Projects India Ltd and in 2012 the company acquired its Income 290
present name. ALSTOM offers a wide range of services which includes engineering, procurement,
manufacturing, construction, servicing, and project management of power plant and supply of Net Profit 268
power generation and transmission equipment. Some of the products manufactured bt the company Networth 299
include boilers, bushings, turbines, urban trains, protection relays, transformers and hydro control
systems amongst others. ALSTOM operates four manufacturing units located in WB, Karnataka, UP Address
and Gujarat. In FY15, the company received the orders worth ` 19,130 mn. During the year, the The International,
companys Environment Control System (ECS) and power mills division bagged orders for Mae Moh, 5th Floor, 16, Marine Lines Cross Rd 1,
Thailand, Karabhiga, Turkey and Safi, Morocco. The companys hydro unit received orders for Thac Churchgate,
Mo, Vietnam Bajoli Holi and ` 836 mn from Lower Kalnai in India. The companys thermal services Mumbai - 400020, Maharashtra
division received orders for Ukai, Talcher and Wanakbori projects in India. Website: www.alstom.com/india

22,475.2 1,284.8 9,736.1 3,398.3 15.1 5.7 13.2
(As on Mar 31, 2015)

BS Limited
About the Company
BS Ltd (BS) formerly known as BS TransComm Ltd was incorporated in 2004. BS is an integrated Top 500 Ranking
service provider in the power and transmission sector. The company has diversified portfolio mix of Income 328
EPC in transmission and distribution, tower manufacturing, turnkey services and BOOM prok=jects
in the power sector. The company has project execution capabilities with capacity varying from Net Profit 343
11kV to 1200kV in transmission lines and from 33kV to 400kV in substations. BS operates tower Networth 388
manufacturing unit with an installed capacity of 240,000 MTPA and structural steel mill with an
installed capacity of 120,000 MTPA. BS has been executing over 2,000 kms of transmissions line, Address
43 substations projects and connecting 2,300 villages with the national grid. Major clients of 8-2-269/10,
the company include PGCIL, Andhra Pradesh Transco, L&T, Madhya Pradesh Power Transmission 504, Trendset Towers,
Company, Rajasthan Rajya Vidyut Prasaran Nigam, NCC and state electricity boards. In Apr 2015, BS Road No. 2, Banjara Hills,
received EPC contract valued at ` 2.5 bn for construction of 765 KV double-circuit transmission line Hyderabad - 500034, Telangana
between Raipur, Chattisgarh and Wardha, Maharashtra. Website: www.bslimited.in

19,105.0 685.8 5,525.2 2,152.4 11.3 3.6 12.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

R e a l E s tat e
Real Estate
Comparative Matrix

Company Name
1 DLF Limited 40,618.8 9,695.7 170,310.5 23.9 5.7
2 Prestige Estates Projects Limited 25,730.3 4,142.3 38,920.1 16.1 10.6
3 Sobha Limited 24,016.5 1,990.9 23,445.4 8.3 8.5
4 Puravankara Projects Limited 12,184.1 755.3 18,469.0 6.2 4.1
5 Ahluwalia Contracts (India) Limited 10,716.1 641.4 2,580.2 6.0 24.9
6 Brigade Enterprises Limited 10,080.1 700.0 13,151.5 6.9 5.3
7 Omaxe Limited 9,809.8 401.3 19,096.4 4.1 2.1

DLF Limited
About the Company
DLF Ltd (DLF) was incorporated in 1963. The companys primary business includes development of Top 500 Ranking
residential, commercial and retail properties. The company business can be segmented into two Income 192
categories viz. development business and leasing business. The company has primarily categorized
its development business into two broad categories viz. Gurgaon DevCo and National DevCo. DLFs Net Profit 82
development business primarily focuses on the development and sale of residential real estate Networth 47
which include plotted developments, houses, villas and apartments, integrated townships, offices,
SEZ and shopping complexes. DLFs lease business involves leasing of its developed offices, SEZ and Address
retail properties. As at Mar 31, 2015, DLF had 46 mn sq ft of development projects under construction Shopping Mall,
and its lease business comprised completed properties with leasable area of approximately 29.4 mn 3rd Floor, Arjun Marg,
sq ft, which yielded annuity income of approximately ` 22 bn. In Sep 2015, DLF through its wholly Phase-I, DLF City,
owned subsidiary, DLF Home Developers Ltdy signed an agreement to enter into a JV with GIC, Gurgaon - 122002, Haryana
Singapores sovereign wealth fund to invest in two upcoming projects located in Central Delhi. Website: www.dlf.in

40,618.8 9,695.7 170,310.5 24,345.8 59.9 23.9 5.7
(As on Mar 31, 2015)
Prestige Estates Projects Limited

About the Company
Prestige Estates Projects Ltd (Prestige Estates), part of Prestige Group, was incorporated in the Top 500 Ranking
year 1997. The company is engaged in the business of real estate development. Prestige Estates Income 261
undertakes development of residential, commercial, retail, leisure & hospitality properties mainly
in South India. As of FY15, the company has completed 186 projects and developed 62.25 mn sqft. Net Profit 149
During FY15, the company launched 14.63 mn sqft projects. As on Mar 31, 2015, the company Networth 133
has 68 projects under development and 64.98 mn sqft of area under development. Of the total
projects under development, 53 belong to the residential segment, six to the commercial segment, Address
six to the retail segment and three to the hospitality segment. During FY15, the company launched The Falcon House,
15 residential projects and inaugurated two malls (Forum) in Mangalore and Hyderabad. During No.1, Main Guard Cross Road,
FY15, the company launched three residential projects namely Prestige Leela Residences, Prestige Bengaluru - 560001, Karnataka
Gulmohar and Prestige Bagmane Temple Bells in Bengaluru aggregating to 2.78 mn sq ft area. Website: www.prestigeconstructions.com

25,730.3 4,142.3 38,920.1 7,963.4 30.9 16.1 10.6
(As on Mar 31, 2015)
Sobha Limited
About the Company
Sobha Ltd (Sobha) was established in 1995 and isone of the real estate players in the country. The Top 500 Ranking
company is largely focused on building residential and contractual projects. Residential projects Income 280
constructed by the company include presidential apartments, villas, row houses, luxury and super
luxury apartments, plotted development and aspirational homes. On the contracts side, it has Net Profit 217
constructed corporate offices, convention centres, software development blocks, multiplex theatres, Networth 178
food courts & restaurants, research centres and club houses. Since inception, it has completed
107 real estate and 273 contractual projects covering about 77.92 mn sqft of area. The company Address
currently has ongoing residential projects aggregating to 38.70 mn sqft of developable area and SOBHA,
27.34 mn sqft of saleable area, and ongoing contractual projects aggregating to 7.88 mn sqft. The Sarjapur - Marathahalli Outer Ring Road (ORR),
company has a real estate presence in nine cities and overall footprint in 25 cities and 13 states Devarabisanahalli,
across India. Some of Sobhas prestigious corporate clients include Infosys, Tajo Group, Dell, HP, Bengaluru- 560103 Karnataka
Timken, Beacon, Institute of Public Enterprises (IPE), Bosch, Hotel Leela Ventures amongst others. Website: www.sobha.com

24,016.5 1,990.9 23,445.4 5,077.0 21.1 8.3 8.5
(As on Mar 31, 2015)

Puravankara Projects Limited
About the Company
Puravankara Projects Ltd (Puravankara) was established in 1975. It began its operations in Mumbai Top 500 Ranking
and subsequently made its presence in the cities of Bengaluru, Kochi, Chennai, Mangaluru, Kolkata, Income 435
Coimbatore, Hyderabad, Mysore, and overseas in Colomo and Dubai. Purvankara is a real estate
developer in residential and commercial segments. The residential properties developed by the Net Profit 334
company include apartments, complexes, villas, townhouses and premium affordable housing Networth 212
projects. The commercial projects include retail and office space. The company offers luxury and
premium real estate projects under the brand Purva and its premium affordable housing projects Address
under the brand Provident. As on Mar 31 2015, the company had land bank of 59.3 mn sq ft and 23 130/1,
projects under construction encompassing a development space of around 24.01 mn sq ft. In FY15, Ulsoor Road,
Puravankara pre-launched Purva Evoq in Chennai, a project with 161 apartments of around 2,200 Bengaluru 560042, Karnataka
sq ft each. In FY15, the company and its subsidiary, Provident Housing Ltd entered into partnership Website: www.puravankara.com
with 99cares.com, a real estate portal to offer online booking services for their homes.

12,184.1 755.3 18,469.0 2,607.2 21.4 6.2 4.1
(As on Mar 31, 2015)
Ahluwalia Contracts (India) Limited

About the Company
Ahluwalia Contracts (India) Ltd (ACIL) was incorporated in 1979. ACIL is an integrated construction Top 500 Ranking
company with strong presence in EPC projects. The companys project portfolio encompasses Income 472
projects across residential and commercial complexes, hotels, institutional buildings, hospitals and
medical colleges, corporate offices, IT parks and industrial complexes, metro rail, power plants, Net Profit 351
automated car parking lots, etc. Some key projects executed by the company include Milon Mela Networth 472
International Trade Fair Complex, Kolkata; NIFTEM Complex for NBCC, Sonipat; Bangla Desh High
Commission Building, New Delhi; Jaiprakash Narayan TraumaCare centre for AIIMs and Chancery Address
Complex for Singapore Singh Commisssion, New Delhi amongst other. As on Mar 31 2015, the order Plot No. A-177,
book position of the company stood at ` 33.7 bn. In Mar 2016, ACIL received order worth ` 1.15 bn Okhla Industrial Area,
for extension of construction work for Amity University Campus, Kolkata; order worth ` 498.6 mn Phase-I,
for construction of school building for Anandilal & Ganesh Podar Society, Mumbai; and order worth New Delhi - 110020, Delhi
` 350 mn for extension of construction work for Benett University, Greater Noida. Website: www.acilnet.com

10,716.1 641.4 2,580.2 1,265.4 11.8 6.0 24.9
(As on Mar 31, 2015)
Brigade Enterprises Limited

About the Company
Brigade Enterprises Ltd (Brigade Enterprises), part of the Brigade Group, was incorporated in 1995. Top 500 Ranking
The company is amongst the leading property developers with projects across major cities in South Income 488
India: Chennai, Chikmagalur, Hyderabad, Kochi, Mangalore and Mysore. The company operates
through three business segments namely; real estate, lease rental and hospitality. Under real estate, Net Profit 341
the company undertakes residential and office spaces on outright sales. It also is engaged in leasing Networth 259
office and retail spaces. Under the hospitality segment, it undertakes development of hotels, clubs
& convention centers and serviced apartments. As on FY15, the company had a land bank with a Address
developable area of 34 mn sq.ft; out of which 62% if residential and 30% is for commercial lease. 29th & 30th Floors, World Trade Center,
During the same period, it entered into a tie-up with GIC of Singapore to jointly invest up to ` 15 bn Brigade Gateway, 26 / 1, Dr. Rajkumar Road,
in mixed use real estate projects in South India. In FY15, the company acquired Brooke Bond Real Malleswaram - Rajajinagar,
Estates Pvt Ltd from HUL, which holds a SEZ property of 26.5 acres at Whitefield, Bengaluru. Bengaluru - 560055, Karnataka
Website: www.brigadegroup.com

10,080.1 700.0 13,151.5 3,144.4 31.2 6.9 5.3
(As on Mar 31, 2015)

Omaxe Limited
About the Company
Omaxe Ltd (Omaxe) was incorporated in 1989 for construction and contracting business as Omaxe Top 500 Ranking
Builders Pvt Ltd. It entered real estate development business in 2001 and in 2006 acquired its Income 493
present name. Omaxe is a real estate company involved in developing integrated townships, hi-
tech townships, group housing projects, shopping malls, office spaces, hotel projects among others. Net Profit 385
The company has presence across 27 cities in eight states and has delivered over 95 mn sq ft since Networth 207
inception. Some of its residential projects include NRI City, Omaxe City, The Forest, The Nile, Olive
Aaprtments, Omaxe Heights, Omaxe North Avenue and Habitat Floors among others. In FY15, Address
Omaxe launched new projects across 9 cities, out of which 88% were residential and rest were Shop No. 19-B, First Floor,
commercial. It also launched group housing and floors in Omaxe New Chandigarh and sold an area Omaxe Celebration Mall,
of 0.94 mn sq.ft. During the same period, it had 74 mn sq.ft of area under development in real Sohna Road,
estate spread across 39 projects. Gurgaon - 122001, Haryana
Website: www.omaxe.com

9,809.8 401.3 19,096.4 2,051.9 20.9 4.1 2.1
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

R e ta i l
Retail
Comparative Matrix

Company Name
1 Future Enterprises Limited 103,683.9 (264.5) 49,638.4 (0.3) (0.5)
2 Future Lifestyle Fashions Limited 31,558.3 185.5 15,188.0 0.6 1.2
3 Shoppers Stop Limited 30,596.4 407.4 7,407.1 1.3 5.5
4 Trent Limited 14,324.7 436.3 13,673.9 3.0 3.2

Future Enterprises Limited
About the Company
Future Enterprises Ltd (Future Enterprises) was incorporated in 1987 under the name Manz Wear Top 500 Ranking
Pvt Ltd. In May 2016, the company changed its name from Future Retail Ltd to its present name Income 88
after its merger with Bharti Retail Ltd. The company primarily operates in two segments viz.
hypermarket & supermarket and home solution businesses. The hypermarket and supermarket Net Profit 477
business of Future Retail is led by Big Bazaar, Fashion@Big Bazaar, Food Bazaar and Foodhall. Networth 115
The home solutions segment includes Home Town and eZone. As on Mar 31 2015, the company
operated 196 Big Bazaar stores, 52 fbb stores, 97 eZone, 35 Home Town stores and six Foodhall Address
with presence in 122 cities across the country. In FY15, the company added 102 new stores, taking Knowledge House, Shyam Nagar,
the total count to 401. During FY15, Future Retail sold 3.3 mn towels, 26,000 beds, 1.4 mn bed Off Jogeshwari - Vikhroli Link Road,
sheets, 12,000 dining tables, 1.1 mn home appliances, 14,000 wardrobes and 54,000 carpets from Jogeshwari (East),
its hypermarkets, supermarkets and home solution stores. Mumbai - 400060, Maharashtra
Website: www.futureretail.co.in

103,683.9 (264.5) 49,638.4 12,350.9 11.9 (0.3) (0.5)
(As on Mar 31, 2015)
Future Lifestyle Fashions Limited

About the Company
Future Lifestyle Fashions Ltd (FLF) is an integrated fashion company with presence across key Top 500 Ranking
segments from design to distribution. FLF has a portfolio of fashion brands that also covers sub- Income 228
categories including formal menswear, casual wear, active or sportswear, womens ethnic wear,
womens denim wear, womens casual wear, footwear and accessories. The company has 41 Net Profit 433
domestic and foreign brands which are sold through own retail chains, independent distribution Networth 230
channels, exclusive brand outlets and modern retail chains across the country. FLFs own brands
include Urbana, Scullers, all, Jealous, Mahr, Urban Yoga and Ceriz. The company also operates Address
national retail chains viz. Central, Brand Factory, I am in, aLL, Lee Cooper and Planet Sports spread Knowledge House, Shyam Nagar,
across 76 cities attracting over 44.3 mn customer footfalls in FY15. FLFs distribution network Off Jogeshwari - Vikhroli Link Road,
includes 29 central stores, 39 brand factory and 290 sport stores. In FY15, the company divested Jogeshwari (East),
its stake in brand Celio, acquired stakes in brands Pepperone and Spunk and increased its stake in Mumbai - 400060, Maharashtra
brands Mineral and Famozi. Website: www.futurelifestyle.in

31,558.3 185.5 15,188.0 3,396.9 10.8 0.6 1.2
(As on Mar 31, 2015)
Shoppers Stop Limited

About the Company
Shoppers Stop Ltd (Shoppers Stop), a part of K Raheja Corp Group was incorporated in 1997. The Top 500 Ranking
Company is engaged in the business of retailing a variety of household and consumer products Income 236
through departmental stores Shoppers Stop is engaged in the retail of a range of branded apparel,
footwear, perfumes, cosmetics, jewellery, leather products, accessories, home products, electronics, Net Profit 383
books, music and toys. Shoppers Stop retail its own merchandise under its private labels called Networth 348
STOP, Haute Curry, Eliza Donatein, Kashish, LIFE, Rheson, Wrogn, Desigual and Vettorio Fratini.
The company also operates speciality stores viz. HomeStop, Mother Care, Crossword Bookstores, Address
Arcelia, Mac, Clinique, Bobbi Brown, Estee Launder and Airport business. In Oct 2015, the company Eureka Towers, 9th Floor, B Wing,
opened its Shoppers Stop store and one shop in shop Mothercare store in Jaipur taking the total Mindspace, Link Road,
count of Shoppers Stop stores to 75 and Mothercare stores to 42. In Jan 2016, Shoppers Stops Malad (West),
subsidiary Hypercity Retail (India) Ltd opened Hypercity store in Delhi taking the total number of Mumbai - 400064, Maharashtra
Hypercity stores to 18. Website: www.shoppersstop.com

30,596.4 407.4 7,407.1 2,052.4 6.7 1.3 5.5
(As on Mar 31, 2015)

Trent Limited
About the Company
Trent Ltd (Trent) was established in 1998 and is a part of the Tata Group. Trents business activities are Top 500 Ranking
carried out through three formats viz retail chain Westside which is the companys flagship format; Income 390
Star Bazaar, a hypermarket chain and Landmark a family entertainment format store. Product
offerings of Westside include apparel, footwear and accessories for men, women and children, along Net Profit 377
with furnishings, artifacts and a range of home accessories. As on Mar 31, 2015 Westside operated Networth 245
53 cities across 86 stores. In FY15, the company launched four new brands exclusively available at
Westside stores. Under the Star format of hypermarket and convenience store chain Trent offers Address
staple food, beverages, health and beauty products, apparel, home furnishings, vegetables, fruits, Bombay House,
dairy and non-vegetarian products. The companys home entertainment format Landmark offers 24 Homi Mody Street,
a range of books, toys, sports merchandize, stationery & technology accessories. The company Fort,
launched Sports Zone, Portugal-based Sonaes sports retail chain, in Bengaluru in Apr 2015. Mumbai - 400001, Maharashtra
Website: www.mywestside.com

14,324.7 436.3 13,673.9 1,857.6 13.0 3.0 3.2
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

S h ippin g
Shipping
Comparative Matrix

Company Name
1 The Shipping Corporation of India Limited 45,876.1 2,009.3 65,336.0 4.4 3.1
2 The Great Eastern Shipping Company Limited 20,126.9 3,173.0 49,304.1 15.8 6.4

The Shipping Corporation of India Limited
About the Company
The Shipping Corporation of India Ltd (SCI) was established in 1961 by the amalgamation of Eastern Top 500 Ranking
Shipping Corporation and Western Shipping Corporation. Its fleet includes bulk carriers, crude oil Income 175
tankers, product tankers, container vessels, passenger-cum-cargo vessels, LPG / ammonia carriers
and offshore supply vessels. As on Mar 31, 2015 the companys fleet strength comprised 69 vessels Net Profit 216
of 5.89 mn DWT. These included 21 crude oil tankers, 14 product tankers, two gas carriers, 17 Networth 96
bulk carriers, five liner ships, nine offshore supply vessels and one passenger-cum-cargo vessel. The
company also has cargo loading rights on 21 vessels of its partners in various consortia arrangements Address
with various shipping lines such as Mediterranean Shipping Company (MSC), PIL of Singapore, Shipping House,
K-Line and Wan Hai of Taiwan. The bulk segment accounted for nearly 69% of the revenue in FY15. 245, Madam Cama Road,
In Apr 2016, SCI signed a memorandum of agreement with Greatship Global Offshore Services Pte Mumbai - 400021, Maharashtra
Ltd, Singapore for acquisition of a secondhand Platform Supply Vessel (PSV),having deadweight of Website: www.shipindia.com
about 3,000 tons with DP-2 capabilities.

45,876.1 2,009.3 65,336.0 12,261.2 26.7 4.4 3.1
(As on Mar 31, 2015)
The Great Eastern Shipping Company Limited

About the Company
The Great Eastern Shipping Company Ltd (GE Shipping) was incorporated in 1948. GE Shipping is Top 500 Ranking
one of the largest private sectors shipping service provider in India with strong presence in the Income 316
international maritime industry. The companys business can be classified into two segments viz.
shipping and offshore. The shipping business operates under two main businesses viz. dry bulk Net Profit 174
carriers and tankers. GE shipping provides offshore oilfield services through its subsidiary Greatship Networth 116
(India) Ltd. The company also has foreign owned subsidiaries including The Greatship (Singapore)
Pte. Ltd, The Great Eastern Chartering LLC (FZC) and Greatship Global Holdings Ltd, Mauritius Address
amongst others. The company is currently operating a fleet of 30 vessels comprising 21 tankers and Ocean House,
nine dry bulk carriers with an average age of 9.6 yrs aggregating 2.36 mn dwt. In FY15, GE Shipping 134/A, Dr. Annie Besant Road,
acquired vessels named Jag Pranam, Jag Roopa and Jag Vishnu and it delivered vessels named Jag Worli,
Padma, Jag Prachi, Jag Arjun and Jag Vidhi. As on Dec 2015, GE Shippings order book comprises of Mumbai - 400018, Maharashtra
three dry bulk carriers and one product tanker. Website: www.greatship.com

20,126.9 3,173.0 49,304.1 8,405.0 41.8 15.8 6.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Altran India
1700
Innovation
Makers
Sanjay Kumar
CEO & MD
7 offices
across 5 cities

Over 12 years
of experience
in India
Energy, Aerospace,
Oil & Gas Railways

S oftware and I T e S
Software and ITeS
Comparative Matrix

Company Name
1 Tata Consultancy Services Limited 780,447.9 187,285.8 453,850.3 24.0 41.3
2 Infosys Limited 506,370.0 117,520.0 480,680.0 23.2 24.4
3 Wipro Limited 437,088.0 81,931.0 341,532.0 18.7 24.0
4 Tech Mahindra Limited* 192,872.0 21,949.0 112,233.0 11.4 19.6
5 HCL Technologies Limited 183,529.4 63,459.5 193,664.8 34.6 32.8
6 Oracle Financial Services Software Limited 37,170.0 10,580.2 29,906.7 28.5 35.4
7 Mindtree Limited 36,305.0 5,343.0 19,993.0 14.7 26.7
8 Mphasis Limited 31,885.9 5,530.3 40,419.0 17.3 13.7
9 Vakrangee Limited 27,849.3 3,205.7 12,315.3 11.5 26.0
10 Rolta India Limited^ 18,889.2 5,824.2 22,866.2 30.8 25.5
11 Polaris Consulting & Services Limited 17,158.9 1,376.1 5,881.6 8.0 23.4
12 Cyient Limited 13,969.4 2,711.6 15,920.5 19.4 17.0
13 NIIT Technologies Limited 13,685.1 1,610.7 9,543.0 11.8 16.9
14 Persistent Systems Limited 13,381.7 2,593.0 13,348.9 19.4 19.4
15 KPIT Technologies Limited 12,685.1 2,014.1 9,855.7 15.9 20.4
16 Hexaware Technologies Limited 12,140.4 3,184.0 10,268.7 26.2 31.0
17 Zensar Technologies Limited 11,007.2 1,831.1 7,444.3 16.6 24.6
18 Hinduja Global Solutions Limited 10,982.3 1,125.8 7,799.2 10.3 14.4

Tata Consultancy Services Limited
About the Company
Tata Consultancy Services Ltd (TCS), a part of Tata Group was established as a division of Tata Sons Top 500 Ranking
Ltd in 1968 and later on became a separate entity in Jan 199 5. The company is engaged in providing Income 7
end-to-end technology and related services through its unique Global Network Delivery Model
to corporations across the world. TCS offerings include ADM, Business Intelligence & performance Net Profit 2
management, digital enterprise solutions, eco-sustainability services, supply chain management, Networth 10
business process services, enterprise solutions, assurance services, engineering & industrial services,
IT infrastructure services, consulting, asset leveraged solutions. TCS serves various industries like Address
BFSI, telecom, media & entertainment, manufacturing, retail & consumer packaged goods and 9th Floor,
construction amongst the others. In Apr 2015, the company amalgamated its subsidiary, CMC Ltd Nirmal Building,
(CMC), with itself. The amalgamation will enable TCS to capitalize on CMCs operations which include Nariman Point,
procurement, installation, commissioning and maintenance of computer and networking systems, Mumbai - 400021, Maharashtra
providing education and training, designing, developing and implementing software technologies Website: www.tcs.com
and applications as well as providing professional services in India and overseas.

780,447.9 187,285.8 453,850.3 260,233.1 33.3 24.0 41.3
(As on Mar 31, 2015)
Infosys Limited
About the Company
Infosys Ltd (Infosys) was established in 1981 as Infosys Consultants Pvt Ltd. In 2012, the company Top 500 Ranking
acquired its present name. Infosys is a NASDAQ listed global consulting and IT services company Income 17
providing services to companies across 50 countries. Infosys provides technology services,
business services and outsourcing services. The companys technology services include application Net Profit 7
management, enterprise mobility, infrastructure management, testing, cloud and engineering Networth 9
services. The business services division provides management consulting, business application,
SAP and outsourcing services division provides BPO, application outsourcing and sourcing & Address
procurement. The companys provides services to various industries namely financial services, Electronics City,
manufacturing, retail, CPG & logistics, energy, utilities, communication & services, life sciences, Hosur Road,
healthcare & insurance. Infosys has 93 global development centres of which 36 are in India, 18 in Bengaluru - 560100, Karnataka
America, 20 in the Asia Pacific and 19 in Europe. During FY15, the company entered in to definitive Website: www.infosys.com
agreement to acquire Kallidus Inc and its affiliate for ` 7.5 bn. During FY15, the company added 221
new clients.

506,370.0 117,520.0 480,680.0 177,110.0 35.0 23.2 24.4
(As on Mar 31, 2015)
Wipro Limited
About the Company
Wipro Ltd (Wipro) was incorporated in 1945 as a producer of hydrogenated vegetable oil in the Top 500 Ranking
name of Western India Vegetable Products Ltd. In 1981, Wipro entered into the IT products business. Income 24
During 1990, Wipro ventured into hardware and software services. In 2013, the company demerged
its diversified business to operate under only two segments viz. IT services and IT products. The Net Profit 12
companys IT services segment is organized into six strategic business units i.e. BFSI, healthcare and Networth 21
life science (HLS); retail, consumer, transport and government (RCTG); energy, natural resources and
utilities (ENU); manufacturing and high-tech (MFG), global media and telecom (GMT). IT Services Address
segment provides software application development & maintenance, R&D services for hardware Doddakannelli,
and software design, BPO services, business application services, consulting and infrastructure Sarjapur Road,
outsourcing services. During FY15, the company added 194 new customers to their IT services Bengaluru - 560035, Karnataka
segment. The companys third-party IT products segment comprises of enterprise platforms, Website: www.wipro.com
networking solutions, software products, data storage, contact centre infrastructure, enterprise
security, IT optimization technologies, video solutions and end-user computing.

437,088.0 81,931.0 341,532.0 113,865.0 26.1 18.7 24.0
(As on Mar 31, 2015)

Tech Mahindra Limited
About the Company
Tech Mahindra Ltd (TML) was incorporated in 1986 under the name of Mahindra British Telecom. Top 500 Ranking
TML is a part of Mahindra Group. In 2006, the company acquired its present name. TML specialises Income 52
in digital transformation, consulting and business re-engineering solutions. The company offers
a wide range of services which includes telecom services, consulting, application outsourcing, Net Profit 40
infrastructure outsourcing, engineering services, BPO, platform solutions and mobile value added Networth 66
services. The company has a global footprint with 49 sales offices and 85 delivery centres in over
90 countries and has 767 active client engagements. In Jun 2015, TML launched mPAC, managed Address
platform for adaptive computing for hybrid IT management. In Aug 2015, TML received in-principle Gateway Building,
approval from RBI for setting up of the Payments Bank and in Oct 2015 it collaborated with Transport Apollo Bunder,
Systems Catapult to develop intelligent mobility solutions. In Dec 2015, the company entered into Mumbai - 400001, Maharashtra
an agreement with Pincar S.r.I. to acquire a controlling stake in Pininfarina S.p.A., an Italian brand in Website: www.techmahindra.com
automotive and industrial design.

192,872.0 21,949.0 112,233.0 34,124.0 17.7 11.4 19.6
(As on Mar 31, 2015)
HCL Technologies Limited

About the Company
HCL Technologies Ltd (HCL) was incorporated in 1991. HCL is primarily engaged in providing a range Top 500 Ranking
of software services, BPO and IT infrastructure services. HCL provides software solutions across Income 54
various industry verticals such as financial services, telecom, energy and utility, public services,
manufacturing, retail & CPG, media and publishing & entertainment, transport and logistics. The Net Profit 16
infrastructure services division of HCL offers infrastructure management services, data center Networth 42
services, network services, service integration, information security, automation & orchestration
and cloud services. HCLs application business services provide integrated transformational services Address
for application portfolios of the customers. The business services division provides next generation 806, Siddharth,
BPO services through 34 delivery centers across India, US, Europe, UK, Ireland, Latin America and 96, Nehru Place,
the Phillipines. In Oct 2015, the company acquired CRM services provider PowerObjects and in Jan New Delhi - 110019, Delhi
2016 it acquired workplace modernization and virtualisation services provider P2P. In Feb 2016, Website: www.hcltech.com
HCL signed a global IT transformation deal with Volvo Group and also acquired Volvos external IT
business, adding 40 new customers from the Nordics and France to its portfolio.

183,529.4 63,459.5 193,664.8 80,516.1 43.9 34.6 32.8
(As on Jun 30, 2015)
Oracle Financial Services Software Limited

About the Company
Oracle Financial Services Software Ltd (Oracle Financial), a subsidiary of Oracle Global (Mauritius) Top 500 Ranking
Ltd was incorporated in Sep 1989. Oracle Financial is primarily engaged in providing IT solutions Income 208
and knowledge processing services to financial services industry worldwide. It operates in three
segments namely product licenses, consulting and BPO services. Under products licenses segment, Net Profit 76
the company deals with various banking software products including enhancements, implementation Networth 154
and maintenance activities. The consulting services segment offers services spanning the entire
lifecycle of applications used by financial services institutions and its BPO services caters to lending, Address
collection, customer service and capital markets industry. Some of the products and services Oracle Park,
offered by the company include Oracle FLEXCUBE, Oracle FLEXCUBE Direct Banking, Oracle Banking Off Western Express Highway,
Platform, PrimeSourcing Application services, PrimeSourcing Technology Services and Oracle Goregaon (E),
FLEXCUBE Investor Servicing amongst others. The company has global presence in over 27 overseas Mumbai - 400063, Maharashtra
markets through sales and marketing operations under its subsidiaries. In addition, the Company is Website: www.oracle.com/financialservices
represented in 85 countries through over 32 corporate business partners.

37,170.0 10,580.2 29,906.7 16,770.7 45.1 28.5 35.4
(As on Mar 31, 2015)

Mindtree Limited
About the Company
Mindtree Ltd (Mindtree), incorporated in 1999 is an international IT consulting and implementation Top 500 Ranking
company that delivers business solutions through global software development. The company Income 213
operates in five verticals retail, CPG and manufacturing (RCM), BFSI, hitech and media services, travel
and hospitality and others. Mindtree offers services in the areas of agile, analytics and information Net Profit 119
management, application development and maintenance, business process management, business Networth 202
technology consulting, cloud, digital businesss, independent testing, infrastructure management
services, mobility, product engineering and SAP services. Mindtree has international presence in Address
US, UK, Malaysia, Sweden, Germany, UAE, Switzerland, Canada, Belgium, Singapore, Australia, Global Village,
France, Netherlands and China. In Aug 2015, the company acquired Relationship Solutions, Inc, a RVCE Post,
UDS-based IT solutions provider. In Sep 2015, the company launched a global learning & delivery Mysore Road,
center at Bhubaneshwar, Odisha under the name Mindtree Kalinga to focus on global clients in the Bengaluru - 560059, Karnataka
insurance domain. In Feb 2016, Mindtree signed service integration capabilities agreement with Website: www.mindtree.com
Sandwik to foster its ITs service integration capabilities.

36,305.0 5,343.0 19,993.0 7,895.0 21.7 14.7 26.7
(As on Mar 31, 2015)
Mphasis Limited
About the Company
Mphasis Ltd (Mphasis) was formed in Jun 2000 as Mphasis BFL Ltd after the merger of Mphasis Top 500 Ranking
Corporation, US and BFL Software Ltd. The company operates mainly in the areas of application Income 227
services, infrastructure services and BPO services. Application services provided by Mphasis include
ADM, enterprise web technologies, BPM, enterprise architecture integration, user experience Net Profit 116
management and specialised services. The infrastructure services include remote infrastructure Networth 130
management, workplace services, network services, security services, managed maintenance and
data center services. Mphasis also provides payment managed services under which it offers end- Address
to-end ATM deployment and management services to the banks in India. The company has its Bagmane World Technology Center,
global presence in markets like Americas, Europe, New Zealand, Indonesia, Philippines, Sri Lanka Marathahalli Outer Ring Rd,
and Australia. The company has executed more than 300 digital projects and it caters to various Mahadevapura,
industries such as banking & capital markets, insurance, energy, government, healthcare, media, Bengaluru - 560048, Karnataka
retail and telecom amongst others. In Apr 2016, private equity major Blackstone Group signed a Website: www.mphasis.com
definitive agreement with Hewlett Packard Enterprise (HPE) to buy a majority stake in Mphasis.

31,885.9 5,530.3 40,419.0 7,662.0 24.0 17.3 13.7
(As on Mar 31, 2015)
Vakrangee Limited
About the Company
Vakrangee Ltd (Vakrangee) was established in 1990. It is technology driven company which focuses Top 500 Ranking
on creating network of last-mile retail points-of-sale to potentially enable every Indian to seamlessly Income 249
benefit from financial inclusion, Government programmes and from a wider access to basic goods
and services. The company through its vast network of retail access points, delivers real-time Net Profit 171
banking services, insurance services, e-Governance services (G2C), e-Commerce services (B2C) & Networth 273
ATM services to the unserved rural, semi-urban and urban markets. Vakrangee Kendra provides
technology-driven real time rural connectivity at the Gram Panchayat level through a variety of Address
services and products across the same target consumers. Under the BFSI services, the company Vakrangee House,
offers basic banking services, retail loans, deposits, recovery of loans amongst others. Under G2C Plot No 66,
services, the company offers utility collection, cess collection and tax collection services other Marol Coop Ind Estate, Marol,
than issuance of certificates. Under B2C services, the company offers telecom services, d2h and Mumbai - 400059, Maharashtra
education services. Under e-Governance services, the company offers services for UIDAI, central Website: www.vakrangee.in
election commission, public distribution system, IGRS, MCA 21, passport seva Kendra.

27,849.3 3,205.7 12,315.3 7,201.2 25.9 11.5 26.0
(As on Mar 31, 2015)

Rolta India Limited
About the Company
Rolta India Ltd (Rolta) was founded in 1982 and is headquartered in India. Rolta is among the Top 500 Ranking
leading providers of IP-led IT solutions for various vertical segments, including federal and state Income 332
governments, utilities, oil & gas, petrochemicals, financial services, manufacturing, retail and
healthcare. Rolta provides a vast portfolio of solutions based on Rolta IP tailored for Indian Defense Net Profit 111
and Homeland Security. By uniquely combining its expertise in the IT, Engineering and Geospatial Networth 183
domains, Rolta develops advanced digital solution incorporating Rolta IP in the areas of Cloud,
Mobility, IoT, BI and Big Data Analytics. Address
Rolta Tower - A, 22nd Street
Rolta Technology Park,
MIDC Marol, Andheri (E),
Website: www.rolta.com

18,889.2 5,824.2 22,866.2 14,950.4 79.1 30.8 25.5
(As on Mar 31, 2015)
Polaris Consulting & Services Limited

About the Company
Polaris Consulting & Services Ltd (Polaris), formerly known as Polaris Financial Technology Ltd was Top 500 Ranking
incorporated in 1993 and in Oct 2014, it acquired its present name. Polaris is primarily engaged Income 346
in providing software product licenses and IT services including software development and BPO
services to for banking, insurance and other financial services customers. The wide range of Net Profit 263
services offered by Polaris includes testing, infrastructure management, business efficiency, Networth 372
business transformation, data & analytics, mobility & channels and risk & compliance amongst
others. Polaris is organised into six client-centric units and multiple solution-centric units across Address
the world represented by over 8,300 solution architects, domain and technology experts. In FY15, Polaris House,
Polaris launched Intellect Digital Branch solution, an app based integrated sales, services and teller No. 244/713,
platform. In Jun 2015, Polaris JV with Kaisa Consulting have been selected to implement intellect Anna Salai,
digital core to transform core banking operations of Development Bank of Philippines. In Nov 2015 Chennai - 600006, TN
Polaris entered into a definitive share purchase agreement with Virtusa Corporation to create a Website: www.polarisft.com
compelling platform for digital transformation services.

17,158.9 1,376.1 5,881.6 2,109.3 12.3 8.0 23.4
(As on Mar 31, 2015)
Cyient Limited
About the Company
Cyient Ltd (Cyient) was incorporated in 1991.Cyient is an engineering, network and operations Top 500 Ranking
solutions company headquartered in Hyderabad, India. Cyient business is classified in three Income 399
segments: data transformation and analytics (DT&A), networks and operations (N&O), product
engineering and process engineering. DT&A unit specifically targets three key industries: transport Net Profit 189
and navigation, energy and natural resources and content and geospatial providers. Under N&O Networth 226
segment it provides support to communication service providers to plan, design and manage their
next-generation networks with a combination of network engineering, field engineering and mobile Address
workforce management services. Cyient delivers complete product engineering solutions from A-Wing, Plot No 11,
concept to prototype development, including customer service engineering to diverse industries. Software Units Layout,
Under process engineering, Cyient offers a wide range of comprehensive services, including basic Infocity, Madhapur,
design, detail design, installation support, system engineering, and complex program management Hyderabad - 500081, Telangana
across industry segments. During FY15, the company incorporated its subsidiary in Melbourne, Website: www.cyient.com
Australia to provide engineering, data and network operations services in the APAC region.

13,969.4 2,711.6 15,920.5 4,053.7 29.0 19.4 17.0
(As on Mar 31, 2015)

NIIT Technologies Limited
About the Company
NIIT Technologies Ltd (NIIT Technologies) is a global IT solution provider which offers services such Top 500 Ranking
as application development and maintenance, infrastructure management services, digital services, Income 408
testing services, cloud computing, geographical information services and BPO services and caters
to various sectors namely banking, financial services, insurance services, travel & transportation, Net Profit 236
manufacturing, distribution, and government sectors. It also offers wide range of products such as Networth 304
TravelMate, Auto Easy, Business easy, Navigator, COSYS, Acumen and Fare Audit amongst others.
The company is headquartered in Noida with offices in Gurgaon, Greater Noida, Bengaluru, Mumbai Address
and Kolkata. NIIT technologies also provide services across Americas, Europe, Middle East, Asia and 8, Balaji Estate,
Australia. The company delivers quality services to over 250 customers worldwide through its global First Floor, Guru Ravi Das Marg, Kalkaji,
delivery centres spread across 18 countries. During FY15, the company added 19 new clients. New Delhi - 110019, Delhi
Website: www.niit-tech.com

13,685.1 1,610.7 9,543.0 2,378.8 17.4 11.8 16.9
(As on Mar 31, 2015)
Persistent Systems Limited

About the Company
Persistent Systems Ltd (PSL) was incorporated in the year 1990. In the year 2000 it entered into Top 500 Ranking
global markets by establishing its office in US. It operates in sector of software development and Income 416
IT solutions. PSL operates in three areas namely; products (ip business), platforms (solutions
integration) and services (product engineering). It caters to various industries such as high-tech, Net Profit 195
telecom, healthcare, banking, media, government, defense and aviation. The company operates Networth 254
development centres in Pune, Nagpur, Hyderabad, Bengaluru and Goa in India and also has offices
in Singapore, Kuala Lumpur, Tokyo, Sydney, Toronto, Santa Clara, San Jose, Bellevue, Seattle, Address
Victoria, London, France amongst others. In Apr 2016, the company signed an agreement to acquire Bhageerath,
the assets of PRM Cloud Solutions Pty Ltd., an Australia based company engaged in SalesForce 402, Senapati Bapat Road,
implementation services. During FY15, the company collaborated with IBM for developing and Pune - 411016, Maharashtra
providing support to a suite of IBM products. In Nov, 2015, the company partnered with Akumina, Website: www.persistent.com
thereby strengthening its partner ecosystem for digital transformation.

13,381.7 2,593.0 13,348.9 3,983.4 29.8 19.4 19.4
(As on Mar 31, 2015)
KPIT Technologies Limited

About the Company
KPIT Technologies Ltd (KPIT) is a global technology company which specializes in providing IT Top 500 Ranking
Consulting and Product Engineering solutions and services to automotive, manufacturing, energy Income 424
& utilities, hi-tech, and life sciences companies. Under consulting segment it provides services like
application maintenance, business intelligence, digital transformation, supply chain management, Net Profit 215
infrastructure management, business process management and extended product lifecycle Networth 297
management amongst others. Under product engineering, KPIT offers solutions such as engineering
design, vehicle diagnostics, infotainment, functional safety, advanced driver assist systems and body Address
electronics amongst few. KPIT also offers extensive range of solutions and services across Oracle 35 & 36,
E-business suite, which encompasses design, development, EBS implementation, EBS upgrades, Rajiv Gandhi Infotech Park,
migration, integration, global roll-outs and support and maintenance. KPIT has its global operation Phase I, MIDC, Hinjewadi,
network in over 16 countries. KPIT also provides full lifecycle solutions for SAP licensing, consulting, Pune - 411057, Maharashtra
implementation and support. In FY15, it made Impact Automotive Solutions Ltd as its wholly owned Website: www.kpit.com
subsidiary by acquiring additional 50% stake from Bharat Forge Ltd.

12,685.1 2,014.1 9,855.7 2,534.7 20.0 15.9 20.4
(As on Mar 31, 2015)

Hexaware Technologies Limited
About the Company
Hexaware Technologies Ltd (Hexaware) was incorporated in the year 1990. Hexaware operates in Top 500 Ranking
the IT, BPO and consulting services. It specialises in business intelligence & analytics, enterprise Income 437
solutions, human capital management, cloud, quality assurance & testing services, user experience
services, digital assurance, infrastructure management services and application transformation & Net Profit 173
management. The company mainly caters to verticals such as banking & financial services, insurance, Networth 291
travel, transportation, logistics, capital market, healthcare, manufacturing and consumer. The
company has key alliances with major enterprise software systems such as Oracle, SAP, Microsoft, Address
IBM and HP. The company operates across 23 countries and 31 locations with a clientele of over 236 152, Millennium Business Park,
companies. In CY14, the company launched iFraudEngine, a new fraud analytics solution for fraud TTC Industrial Area,
detection in the insurance industry. During CY14, Hexaware also entered into global strategic alliance Mahape,
with MarkLogic Corporation to deliver next generation enterprise data management solutions. In Navi Mumbai - 400710, Maharashtra
May 2015, Hexaware entered into partnership with Riversand technologies to provide master data Website: www.hexaware.com
management and product information management technology solutions to its clients.

12,140.4 3,184.0 10,268.7 4,217.9 34.7 26.2 31.0
(As on Dec 31, 2014)
Zensar Technologies Limited

About the Company
Zensar Technologies Ltd (Zensar) is software and infrastructure services and solution provider with Top 500 Ranking
industry expertise spanning across manufacturing, retail, insurance, utilities, banking, financial Income 458
services and insurance. The services offered by the company include management consulting,
business application services, enterprise solution, BPM and infrastructure management services Net Profit 226
amongst others. Zensar has international presence in US, Europe, Africa, Middle East, Singapore, Networth 345
China and Australia. The company has software alliances with companies such as SAP, Oracle,
Microsoft, IBM and Google and hardware alliances with companies like Aruba Networks, Cisco, Address
Riverbed, RSA, Extreme Networks, BlueCoat Systems and Citrix amongst others. In FY15, application Zensar Knowledge Park,
management services segment accounted for 71% of companys total revenue followed by Plot # 4, MIDC,
infrastructure management services segment which accounted for 20% of companys total revenue. Off Nagar Road,
During the year, Zensar purchased business pf Professional Access Software Development Pvt Ltd Pune - 411014, Maharashtra
(PASD) and established a branch office in Kenya. In FY15, Zensars subsidiary PASD launched PARADE, Website: www.zensar.com
a preconfigured and feature-rich B2C commerce accelerator for deploying oracle commerce.

11,007.2 1,831.1 7,444.3 2,868.7 26.1 16.6 24.6
(As on Mar 31, 2015)
Hinduja Global Solutions Limited

About the Company
Hinduja Global Solutions Ltd (HGS) began its operations in 2000 as Hinduja TMT. In 2006, the Top 500 Ranking
company acquired its present name pursuant to restructuring of HTMTs business and forming its Income 461
business process management division into a new entity called HGS. HGS with its subsidiaries offer
voice and non-voice based services such as contact centre solutions and back office transaction Net Profit 284
processing across North America, Europe, Asia and Middle East. HGS provides a full suite of Networth 336
business process management services from marketing and digital enablement services, consumer
interaction services to platform enabling back office business services. The company operates in Address
65 locations worldwide spanning Canada, France, Germany, Italy, Jamaica, UK, US and Netherlands Hinduja House,
amongst others. In FY15, HGS through its wholly owned subsidiary, HGS Colibrium Inc acquired 171, Dr. Annie Besant Road,
Colibrium Partners LLC, a provider of cloud-based sales, service and wellness automation to health Worli,
plans. In Nov 2015, HGS secured 3-year contract from The Student Loans Company in UK to provide Mumbai - 400018, Maharashtra
contact centre support for students pursuing their higher education goals. Website: www.teamhgs.com

10,982.3 1,125.8 7,799.2 2,372.9 21.6 10.3 14.4
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

S pecialt y O ils and
L ubricants
Specialty Oils and Lubricants
Comparative Matrix

Company Name
1 Castrol India Limited 34,083.9 4,745.6 4,869.2 13.9 97.5
2 Savita Oil Technologies Limited 18,576.8 (12.7) 5,641.5 (0.1) (0.2)
3 Gulf Oil Lubricants India Limited 9,767.1 774.1 1,866.0 7.9 41.5
4 Tide Water Oil Co. (India) Limited* 9,688.7 208.2 5,163.8 2.1 4.0

Castrol India Limited
About the Company
Castrol India Ltd (Castrol) is a part of BP Group. It operates in two business segments namely Top 500 Ranking
automotive and non-automotive. It offers lubricating oils, greases and other ancillary products Income 217
used in cars, motorcycles & scooters, commercial vehicles, mining and agriculture vehicles. It also
offers lubricant solutions for specialist applications across a range of sectors including; marine, oil Net Profit 131
& gas, automotive, aerospace, power generation, metals and mining. Its product portfolio includes Networth 400
extensive range of manual and automatic transmission fluids, chain lubricants and waxes, coolants,
suspension fluids, brake fluids, greases, cleaners and maintenance products. Some of its prominent Address
brands include Castrol Activ, Castrol Go, Castrol Power1, Castrol GTX, Castrol Magnatec, Castrol Technopolis Knowledge Park,
EDGE, Castrol Vecton, and Castrol CRB Plus among others. It has manufacturing plants across Mahakali Caves Road,
Patalganga in Maharashtra, Paharpur in WB and Silvassa. During the year ended Dec 31 2014, Castrol P O Box No. 19411 Chakala, Andheri (E),
re-launched some of its brands including Magnatec 5W-30 Stop Start, Magnatec Professional A1 Mumbai - 400093, Maharashtra
5W-30, CRB Mini Truck, SF0007 RP and Optigear MX320. Website: www.castrol.com

34,083.9 4,745.6 4,869.2 7,648.2 22.4 13.9 97.5
(As on Dec 31, 2014)
Savita Oil Technologies Limited

About the Company
Savita Oil Technologies Ltd (Savita Oil Technologies) was incorporated in 1961 and began Top 500 Ranking
manufacturing liquid paraffin. In 1994, it commenced production of lubricating oils and also went Income 334
public in the same year. In 1999, the company introduced its renewable energy division. Savita
Oil Technologies operates via two segments namely petroleum products and wind power. The Net Profit 465
petroleum products segment offers products such as transformer oils, white oils & liquid paraffins, Networth 380
and lubricating oils. This segment caters to industries such as cosmetics, pharmaceuticals and
personal care products among others. It also produces oxidised waxes and wax emulsions, cable Address
filling compounds, optic fiber compounds and waterless engine coolant. The company operates 66/67, Nariman Bhavan,
three manufacturing facilities - one in Turbhe, Maharashtra and the other two in Silvassa - UT of Nariman Point,
Dadra & Nagar Haveli at Kharadpada and Silli. The company has wind power plants in the states of Mumbai - 400021, Maharashtra
Maharashtra, Karnataka and TN, which generated 88.53 Mus of power in FY15. During the same Website: www.savita.com
period, its 6 MWs wind power plant at Sangli was registered with IREDA under GBI scheme.

18,576.8 (12.7) 5,641.5 369.1 2.0 (0.1) (0.2)
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 494
Gulf Oil Lubricants India Net Profit 332
Ravi Chawla, Managing Director

Gulf Oil Lubricants India Ltd (GOLIL), part of the Hinduja Group, is an established player in Total Income 9,767.1
the Indian Lubricants Industry. The Gulf Brand, owned by GOLILs holding company, Gulf
Oil International, has a global presence in more than 100 countries. GOLIL was formed Net Profit 774.1
in April 2014 as a separately listed pure play lubricants company through the demerger Networth 1,866.0
of Lubricants Division of Gulf Oil Corporation Limited. GOLIL manufactures and markets EBIDTA 1,250.9
a complete range of lubricants used in automotive, industrial and marine applications.
Ratios (%)
These products have approvals from bodies like API, JASO, ACEA and have been approved
by leading OEMs globally. The company has a fully automated, ISO 9001:2000 certified EBIDTA Margin 12.8
Blending plant with a capacity of 90000KL and a world class R&D center in Silvassa. It NPM 7.9
has a Pan India network of 320 Auto distributors, 30 Industrial Distributors and over
RONW 41.5
50000 retailers, backed by the logistics support of 33 depots, 6 regional offices and
(As on Mar 31, 2015)
corporate office in Mumbai. The company is also setting up its 2nd lubricant plant at
Ennore, Chennai. Management Details
Business Overview Chairman

Sanjay G Hinduja
GOLIL markets its products directly to OEMs, Industries, Infrastructure, Mining & Fleet
Managing Director
Customers, State transport and Government Undertakings and indirectly through Ravi Chawla
distributor networks across India. In the recent years, the company has consistently
Directors
outperformed the industry growth rate and emerged as one of the leading Lube Brands
M S Ramachandran
in country. The strategy to build its brand & reach and offer products with differentiated Ashok Kini
value propositions has enabled the company to record one of the fastest volume growths Kanchan Chitale
amongst the top lube players. Brand building initiatives around the cricketing platform
sponsoring teams like CSK & RPS in the Indian Premier League and appointing Indian
Captain Mahindra Singh Dhoni as the brand ambassador have resulted in strong brand
awareness and usage of the Gulf Brand in India. The company has pioneered Long Drain
Lubricants for the Commercial Vehicles Segment and established strong positions in
Diesel Engine Oil and 2 Wheeler Motor Oil segments.
Alliances with OEM and B2B Customers
GOLIL works in close coordination with several OEMs and has adopted & pioneered
several go-to-market models in the automotive industry, including genuine oils, co-brand
oils and approved oils. Some of the companys OEM partners include Ashok Leyland,
Mahindra, Volvo Penta, MAN and BharatBenz amongst others. The company also has
many direct Industrial customers.
Key Highlights
Some of the recent highlights of the company include: Address & Website
In FY15, GOLIL entered into an agreement with Schwing Stetter India to market co- IN Centre, 49/50,
branded lubricants for Schwing Stetters customers across the country M.I.D.C., 12th Road,
During the year, the company also tied-up with Whitmore, USA for specialized Andheri (East),
Mumbai 400093,
greases for mining application
Maharashtra
In FY15, it introduced a range of lubricants for Mahindra and Swaraj Tractors and
launched specialised lubricants for the fast growing scooter segment Website
www.gulfoilindia.com
In Dec 2015, the company launched new entry level synthetic engine oil, Ultrasynth
X for mid-sized passenger cars
In Feb 2016, Gulf Oil International entered into global partnerships with Manchester
United and Milwaukee BMW Superbike Team in World Superbike Championship
Corporate Social Responsibility
GOLIL has initiated CSR activities in the area of education, road safety, rural development
and promoting health care in and around its area of operations and local area at Silvassa.
The company has been organizing an annual event, called the Gulf Foster-A-Child Car
Drive, in support of select orphanage homes in Mumbai.

Tide Water Oil Co. (India) Limited
About the Company
Tide Water Oil Co. (India) Ltd (Tide Water Oil Co) established in 1928 is primarily involved in Top 500 Ranking
manufacturing and marketing of lubricants. Its product portfolio of automotive products includes Income 496
engine oils for commercial vehicles, passenger cars, two/three wheelers, trucks and tractors. The
company also manufactures gear oils, transmission oils, coolants and greases for automobiles. Net Profit 427
It also manufactures industrial oils, greases and specialty products like metal working fluids, Networth 395
quenching oils and heat transfer oils for various industrial applications. The companys products
are primarily marketed under the umbrella brand VEEDOL and other sub-brands such as Prima, Address
Turbo and Take Off. As on Mar 31, 2015 the companys plants were located at Silvassa, Dadra & Yule House,
Nagar Haveli; Turbhe, MH; Faridabad, Haryana; Oragadam, TN and Ramkristopur, WB. In FY15, the 8 Dr. Rajendra Prasad Sarani,
company signed an agreement with Japan-based JX Nippon Oil & Energy Corporation to form a JV viz Kolkata - 700001, WB
JX Nippon TWO Lubricants India Private Ltd for selling, marketing, distribution and manufacturing of Website: www.tidewaterindia.com
ENEOS brand of lubricants.

9,688.7 208.2 5,163.8 2,508.6 25.9 2.1 4.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

S u g ar
Sugar
Comparative Matrix

Company Name
1 Shree Renuka Sugars Limited 57,480.9 (1,608.9) 15,355.6 (2.8) (10.5)
2 Balrampur Chini Mills Limited 30,060.6 (577.3) 11,172.1 (1.9) (5.2)
3 E.I.D.- Parry (India) Limited 22,650.4 1,482.5 13,621.1 6.5 10.9
4 Dhampur Sugar Mills Limited 17,950.5 (103.6) 3,936.1 (0.6) (2.6)
5 DCM Shriram Industries Limited 13,054.3 43.8 2,112.3 0.3 2.1
6 Dalmia Bharat Sugar and Industries Limited 11,660.0 14.8 4,512.9 0.1 0.3

Shree Renuka Sugars Limited
About the Company
Shree Renuka Sugars Ltd (SRSL) was incorporated in 1995. SRSL operates in the agribusiness and Top 500 Ranking
bio-energy segment. Its business can be classified into three segments; sugar, ethanol and power. Income 142
The company is one of the largest sugar producers in India, and has one of the largest sugar refiners
in the world. The company operates eleven mills globally, out of which four are located in center- Net Profit 490
south Brazil and seven in India. It also has two large port-based sugar refineries in India. SRSL also Networth 229
has significant presence in South Brazil, through acquisitions of Renuka Vale do Ivai and Renuka do
Brasil with a capacity of 13.6 MTPA. Under the ethanol segment the company manufactures fuel Address
grade ethanol that can be blended with petrol. The company has Indian distillery capacity at 930 BC 105,
Kilo litre per day (KLPD) - 630 KLPD from molasses to ethanol and 300 KLPD from rectified spirit to Havelock Road,
ethanol - and Brazil distillery capacity at 3,230 KLPD. The company generates power from bagasse Cantonment,
for captive consumption and sale to the states grids of India and Brazil. In FY15, Indian operations Belgaum - 590001, Karnataka
produced 271 MW of power while Brazilian operations produced 313 MWs. Website: www.renukasugars.com

57,480.9 (1,608.9) 15,355.6 (11.5) 0.0 (2.8) (10.5)
(As on Mar 31, 2015)
Balrampur Chini Mills Limited

About the Company
Balrampur Chini Mills Ltd (Balrampur Chini) was incorporated in 1975. In 1990, Balrampur Chini Top 500 Ranking
acquired majority stakes in Babhnan Sugar Mill Ltd and acquired Tulsipur Sugar Company Ltd in Income 241
1998. Subsequently it commissioned a bagasse based power generation unit in UP in 2003.
Balrampur Chini is an integrated sugar manufacturing company. The company operates under four Net Profit 482
business segments namely sugar, distillery, cogeneration and organic manure. The product portfolio Networth 282
of the company includes sugar, industrial alcohol, ethanol, power, molasses, bagasse and organic
manure among others. As on Mar 31, 2015 Balrampur Chini operated 11 plants located across Address
UP with an annual installed capacity of manufacturing 79,000 TCD of sugar, 320 KLPD of distillery FMC Fortuna,
products, 58,000 MT of organic manure and a saleable co-generation capacity of 148.2 MW. In 2nd Floor, 234/3A,
FY15, Balrampur Chini produced 7.58 MMT of sugar and crushed 77.2 mn qtls of sugar cane. During A.J.C. Bose Road,
the year, its distillery segment produced 26.9 mn BL of industrial alcohol and 32.5 mn BL of ethanol Kolkata - 700020, WB
while its power segment produced 829.4 mn KWH of power. Website: www.chini.com

30,060.6 (577.3) 11,172.1 1,409.7 4.7 (1.9) (5.2)
(As on Mar 31, 2015)
E.I.D.-Parry (India) Limited

About the Company
E.I.D.-Parry (India) Ltd (EID-Parry), a Murugappa Group company was incorporated in 1975. EID-Parry Top 500 Ranking
operates with three divisions namely the sugar division, bio-products division and nutraceuticals Income 289
division. Its product portfolio includes raw sugar, plantation white sugar and refined sugar. The
company also manufactures pharmaceutical grade sugar and table top formats of sugar such as Net Profit 246
sachets, flavoured sugar and sugar cubes. EID Parry together with its subsidiaries operates nine Networth 246
sugar manufacturing facilities located in TN, Puducherry, Karnataka and AP having an installed
capacity to crush 39,000 MT of cane per day, generate 160 MW of power and four distilleries with Address
capacity of 230 KLPD. It also operates a bio-pesticides factory and a nutraceuticals factory in TN. The Dare House,
company also has a significant presence in farm inputs business through its subsidiary, Coromandel New No.2, Old 234,
International Ltd. In FY15, EID Parry sold over 0.49 MMT of sugar across the states of TN, Puducherry, Chennai - 600001, TN
Karnataka and AP. During the year the company launched three new products namely Valeo, Hexy Website: www.eidparry.com
Plus and Parry Monas under bio products division.

22,650.4 1,482.5 13,621.1 3,822.0 16.9 6.5 10.9
(As on Mar 31, 2015)

Dhampur Sugar Mills Limited
About the Company
Dhampur Sugar Mills Ltd (DSML) was incorporated in 1933. DSML is one of the leading integrated Top 500 Ranking
sugarcane processing companies in India. The companys business can be classified in three Income 339
segments: sugar, chemicals and co-generation. The company produces rectified spirits and ethanol
for oil marketing companies and chemicals for the paints and pharmaceutical sector. Under the Net Profit 470
sugar processing segment, the company offerings include; refined sugar, white sugar and retail Networth 421
sugar; while under the chemical segment, it offers ethanol/rectified spirit, extra neutral alchohol
and ethyl acetate. It also produces bio-fertilisers such as biocompost and Liquid bio-fertilisers. Its Address
manufacturing plants are located across Dhampur, Asmoli, Mansurpur, Rajpura and Meerganj in UP. Bijnor,
In FY15, its crushing capacity stood at 45,500 tonnes of cane/day; distillery capacity to 300,000 LPD Dhampur - 246761, UP
and co-generation capacity to 205 MW. During the same period, finished sugar production stood Website: www.dhampur.com
at 0.43 Mn tonnes; Ethanol/RS/ ENA production stood at 37.2 mn ltrs; and power generation stood
at 0.57 mn units.

17,950.5 (103.6) 3,936.1 1,581.3 8.8 (0.6) (2.6)
(As on Mar 31, 2015)
DCM Shriram Industries Limited

About the Company
DCM Shriram Industries Ltd (DCM Shriram) was a part of Delhi Cloth Mills which was established in Top 500 Ranking
1889. DCM Shriram was founded in 1990 with business restructuring of Delhi Cloth Mills. Daurala Income 420
Organics Ltd, a drug intermediates company, was established in 1994 and was amalgamated with
DCM Shriram in 2005. The companys business segment includes sugar, alcohol, power, chemicals Net Profit 459
and rayon, with manufacturing facilities at Daurala, UP and Kota Rajasthan. Sugar business accounts Networth 482
for nearly 50% of the companys total revenue. In FY15, the company produced 1.62 lac MT of
sugar, by crushing 16.79 lac MT of cane as compared to 1.32 lac MT of sugar by crushing 14.12 lac Address
MT of cane in FY14. DCM Shrirams sugar products include plantation white crystal sugar, refined 6th Floor, Kanchenjunga Bldg.
sugar (pharmaceutical grade), sugar cubes, sugar sachets, breakfast sugar and packaged premium 18 Barakhamba Road,
crystal sugar. New Delhi - 110001, Delhi
Website: www.dcmsr.com

13,054.3 43.8 2,112.3 681.0 5.2 0.3 2.1
(As on Mar 31, 2015)
Dalmia Bharat Sugar and Industries Limited

About the Company
Dalmia Bharat Sugar and Industries Ltd (Dalmia Sugar), a Dalmia Bharat Group company, started Top 500 Ranking
its operations in 1994 in Ramgarh, UP. The company is an integrated sugar manufacturer engaged Income 445
in manufacturing of sugar and its downstream products including ethanol, power and other
distillery products. It operates four sugar plants in Ramgarh, Jawaharpur and Nigohi areas of UP and Net Profit 461
Kolhapur in Maharashtra. The overall cane crushing capacity of the company stood at 27,500 TCD. Networth 408
Its cogeneration business has a power generation capacity of 102 MW while its wind farm at TN has
a capacity of 16.5 MW. Its distillery plant in Jawaharpur has a capacity of 90 KLPD and it produces Address
producing different grades of alcohol like ethanol, rectified spirit extra neutral alcohol. In FY15, the Dalmiapuram,
company produced 0.34 MMT of sugar, 22,142 KL of distillery products and 417.4 mn Kwh of power. Dist. Tiruchirapalli - 621651, TN
In FY15, it acquired a sugar plant situated at Sangli, Maharashtra having a cane crushing capacity of Website: www.dalmiasugar.com
1,750 TCD for a consideration of ` 243 mn.

11,660.0 14.8 4,512.9 1,288.7 11.1 0.1 0.3
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
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(As on Mar 31, 2015)

Top 500 Ranking
Income
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(As on Mar 31, 2015)

Telecom Services
Telecom Services
Comparative Matrix

Company Name
1 Bharti Airtel Limited 606,894.0 132,005.0 438,431.0 21.8 30.1
2 Idea Cellular Limited 317,318.1 28,098.4 76,742.8 8.9 36.6
3 Reliance Communications Limited 111,360.0 (31,230.0) 203,150.0 (28.0) (15.4)
4 Tata Communications Limited 49,898.8 6,256.6 81,618.5 12.5 7.7

Bharti Airtel Limited
About the Company
Bharti Airtel Ltd (Bharti Airtel), established in 1995, provides telecommunication services and has Top 500 Ranking
its business operations in 20 countries across Asia and Africa. Its product portfolio encompasses 2G, Income 10
3G and 4G wireless services, mobile commerce, fixed line services, high speed DSL broadband, IPTV,
DTH and enterprise services among others. As on Mar 31, 2015, Bharti Airtel had a customer base of Net Profit 5
more than 239.5 mn in India, more than 76.3 mn in Africa and more than 8.6 mn in South Asia (Sri Networth 12
Lanka and Bangladesh). As on Mar 31, 2015 the number of sites stood at 146,539, of which 48,825
were 3G sites. In FY15, it launched its first 4G services in Africa. In FY15, the company partnered Address
with Nokia Networks to launch 4G services in Indias first FDD-LTE on 1800 MHz. It also announced Bharti Crescent,
a strategic collaboration with China Mobile for the growth of the LTE ecosystem and evolving mobile 1, Nelson Mandela Road,
technology standards. In Dec 2015, Augere Wireless Broadband India Pvt Ltd became a wholly Vasant Kunj, Phase - II,
owned subsidiary of the company. New Delhi - 110070, Delhi
Website: www.airtel.in

606,894.0 132,005.0 438,431.0 242,850.0 40.0 21.8 30.1
(As on Mar 31, 2015)
Idea Cellular Limited

About the Company
Idea Cellular Ltd (Idea Cellular), an Aditya Birla group company, was incorporated as Birla Top 500 Ranking
Communications Ltd in 1995. In May 2002, the company acquired its present name and launched Income 35
Brand Idea. Idea Cellular is engaged in providing voice, data and other value added services. In
FY15, the company added 7,589 2G sites and 8,910 3G cell sites taking the total count of 2G sites Net Profit 33
to 112,367 and 3G sites to 30,291 as on Mar 31, 2015. Some of the companys initiatives in FY15 Networth 86
included launch of Magic Recharge product and web portal www.ismartpacks.com and revamping
of its 121 and 122 USSD portals among others. In Dec 2015, the company launched 4G services Address
across 75 towns in four telecom service areas of AP & Telangana, Karnataka, Kerala and TN and Suman Tower,
4G LTE services in three more telecom service areas of MP & Chhattisgarh, Punjab and Haryana Plot No. 18, Sector 11,
in Jan 2016. As on Mar 16, 2016, the company owned 3G and/or 4G spectrum in 17 service areas Gandhinagar 382011, Gujarat
representing 87% of its revenue (4G coverage 61% of revenue). Website: www.ideacellular.com

317,318.1 28,098.4 76,742.8 100,781.5 31.8 8.9 36.6
(As on Mar 31, 2015)
Reliance Communications Limited

About the Company
Reliance Communications Ltd (RCOM), a flagship company of Reliance group, was incorporated in Top 500 Ranking
2004 as Reliance Infrastructure Developers Pvt Ltd. In 2006 it acquired its present name. RCOM is Income 80
an integrated telecommunications service provider which provides wireless telecommunications
services through CDMA and GSM technology based networks across India, including 3G services in Net Profit 499
18 Circles, which also include the metropolitan circles of Delhi, Mumbai and Kolkata. It also provide Networth 41
an array of mobile and fixed wireless voice, data, and value-added services such as voice, long-
distance services and broadband access to enterprise customers; managed internet data centre Address
services; and DTH business. In Jul 2015, RCOM launched next-generation content and cloud delivery H Block,
network in five cities across India. In Jan 2016, RCOM entered into strategic partnership with Dhirubhai Ambani Knowledge City,
Reliance Jio Infocomm Ltd for sharing of spectrum in 800 MHz band across 17 circles and for change Thane Belapur Road,
in spectrum allotment in 800 MHz band across 9 circles. In Feb 2016, RCOM received approval of CCI Navi Mumbai - 400710, Maharashtra
for transfer of telecommunication undertaking of Sistema Shyam Teleservices Ltd to itself. Website: www.rcom.co.in

111,360.0 (31,230.0) 203,150.0 47,510.0 42.7 (28.0) (15.4)
(As on Mar 31, 2015)

Tata Communications Limited
About the Company
Tata Communications Ltd (TCL) was incorporated in 1986. The company offers both international Top 500 Ranking
and national voice and data transmission services, selling and leasing of bandwidth on undersea Income 163
cable systems, internet dial up and broadband services, and other value-added services comprising
tele-presence, managed hosting, mobile global roaming and signaling services, transponder lease, Net Profit 104
television up-linking and other services. It offers customised network solutions for its wide range Networth 83
of customers in market segments like manufacturing, oil and gas, banking, financial services and
insurance, media and entertainment; offering customers speed, quality and unparalleled network Address
reach. The company provides connectivity to over 240 countries across 400 points-of-presence VSB,
and collocation space globally across 44 locations. In May 2015, TCL entered into video network Mahatma Gandhi Road,
partnership with China Telecom Global to enable and manage media content for customers in Fort,
China and globally. In Jan 2016, TCL launched white-label SIP trunking solution to addresses global Mumbai - 400001, Maharashtra
enterprises complex voice requirements and In Feb 2016 it launched Data Roaming Boost, a global Website: www.tatacommunications.com
service to speed up Internet access for mobile users globally.

49,898.8 6,256.6 81,618.5 17,474.6 35.0 12.5 7.7
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Textiles
Textiles
Comparative Matrix

Company Name
1 Grasim Industries Limited 66,806.5 5,561.4 111,772.8 8.3 5.0
2 Vardhman Textiles Limited 58,990.6 3,580.6 30,694.5 6.1 11.7
3 Arvind Limited 53,529.4 4,093.6 25,670.8 7.6 15.9
4 Welspun India Limited 45,019.8 5,101.4 14,294.7 11.3 35.7
5 Trident Limited 37,880.2 1,178.2 14,297.0 3.1 8.2
6 SRF Limited 36,613.5 3,077.3 22,656.8 8.4 13.6
7 RSWM Limited 30,348.8 848.6 4,366.0 2.8 19.4
8 Raymond Limited 27,716.0 1,019.4 11,672.3 3.7 8.7
9 Indo Rama Synthetics (India) Limited* 27,711.9 (158.0) 5,389.5 (0.6) (2.9)
The Bombay Dyeing and Manufacturing
10 24,331.8 245.6 4,578.7 1.0 5.4
Company Limited
11 Nahar Spinning Mills Limited 21,592.8 184.1 7,603.2 0.9 2.4
12 K. P. R. Mill Limited 21,023.7 1,459.8 8,784.0 6.9 16.6
13 Sutlej Textiles and Industries Limited 19,178.9 1,161.4 5,594.1 6.1 20.8
14 Nahar Industrial Enterprises Limited 18,086.1 (280.1) 5,777.4 (1.5) (4.8)
15 Mandhana Industries Limited 16,924.6 830.9 5,962.6 4.9 13.9
16 Indo Count Industries Limited 16,799.4 1,647.8 3,111.5 9.8 53.0
17 Filatex India Limited 15,824.6 96.0 1,702.5 0.6 5.6
18 Page Industries Limited 15,516.3 1,960.2 3,848.6 12.6 50.9
19 Siyaram Silk Mills Limited 15,265.3 787.9 4,328.7 5.2 18.2
20 Sangam (India) Limited 14,796.8 515.7 3,711.6 3.5 13.9
21 Loyal Textile Mills Limited 14,130.6 149.9 1,312.2 1.1 11.4
22 Banswara Syntex Limited 12,430.5 80.3 2,235.0 0.6 3.6
23 Century Enka Limited 12,255.5 387.7 7,074.0 3.2 5.5
24 Gokaldas Exports Limited 11,163.0 (91.9) 1,557.5 (0.8) (5.9)
25 Nandan Denim Limited 10,995.8 514.3 2,586.1 4.7 19.9
26 Mafatlal Industries Limited* 10,446.9 153.8 3,645.7 1.5 4.2
27 Himatsingka Seide Limited 9,856.9 1,093.4 6,752.3 11.1 16.2
28 Rupa & Company Limited 9,740.2 657.1 3,139.8 6.7 20.9

Grasim Industries Limited
About the Company
Grasim Industries Ltd (Grasim), a flagship company of the Aditya Birla Group, was incorporated Top 500 Ranking
in 1947 as a textile manufacturer. In 1954, it commenced viscose staple fibre (VSF) production Income 130
in MP and subsequently in 1985 entered into cement business. Grasim is primarily engaged in
manufacturing of VSF, cement, chemicals and textiles. In the textile segment, Grasim has presence Net Profit 115
in fabric and synthetic yarn. Grasim is mainly into polyester - cellulosic menswear marketed under Networth 67
the brands Grasim and Graviera. Grasims textile plant is located at Bhiwani (Haryana) and Malanpur
(MP). It operates in the cement business through UltraTech Cement Ltd, which had a capacity of Address
63.2 MMT in FY15. During the same period, it expanded its VSF production by commissioning the Birlagram,
Greenfield project (120K TPA) at Vilayat, Gujarat taking the total capacity to 498K TPA. In FY15, it Nagda,
launched the brand LIVA for VSF based products. It operates in the textile business through Grasim Ujjain - 456331, MP
Bhiwani Textiles Ltd (GBTL). In Jan 2016, Aditya Birla Chemicals (India) Ltd was merged with Grasim Website: www.grasim.com
Industries Ltd.

66,806.5 5,561.4 111,772.8 9,848.1 14.7 8.3 5.0
(As on Mar 31, 2015)
Vardhman Textiles Limited

About the Company
Vardhman Textiles Ltd (Vardhman Textiles), a Vardhman Group company, was incorporated in Top 500 Ranking
1973 as Mahavir Spinning Mills Ltd and acquired its present name in 2006. Vardhman Textiles Income 140
primarily operates in two segments viz manufacturing of yarn and fabric. The yarn segment
manufactures various types of yarns including core spun yarn, slub yarn, organic cotton yarn, gassed Net Profit 162
mercerised yarns, melange yarn, fancy yarns, ultra yarn and hand knitted yarn. Under fabrics Networth 151
segment, it manufactures grey and processed fabrics for shirting and trousers. The company has
22 manufacturing facilities across the country with spinning installed capacity of 1.1 mn spindles, Address
580 MT of yarn and weaving capacity of 1,316 looms as on Mar 31 2015. The company is engaged Vardhman Premises,
in manufacturing of acrylic fibre through its subsidiary Vardhman Acrylics Ltd and in business Chandigarh Road,
of investment of shares through its wholly owned subsidiary VTL Investments Ltd. It markets its Ludhiana - 141010, Punjab
products across US, Asia and Europe. During FY15, the company produced 191,046 MT of yarn, 170 Website: www.vardhman.com
mn mtrs of grey fabric and 110 mn mtrs of processed fabric.

58,990.6 3,580.6 30,694.5 10,887.4 18.5 6.1 11.7
(As on Mar 31, 2015)
Arvind Limited
About the Company
Arvind Ltd (Arvind) was incorporated in 1931 to manufacture superfine fabrics. In 1997, Arvind Top 500 Ranking
set up manufacturing plant in Gujarat for shirting, bottom weights and knits. Arvind is a vertically Income 154
integrated textile company engaged in manufacturing range of cotton shirting, denim, knits and
bottom weights fabrics, jeans and shirts garments. The company through its subsidiary, Arvind Net Profit 151
Lifestyle Brands Ltd (AFBL) markets branded apparel under various brands in India such as Arrow, Networth 169
Excalibur, Elle, Cherokee, Izod and US Polo among others. The company also operates apparel value
retail stores, MEGAMART and speciality retail stores under arrangements with international brands Address
of Debanhams & Next. Arvind also has presence in telecom and technical textiles businesses directly Naroda Road,
and through JV companies. In Jul 2015, Arvind through its subsidiary AFBL entered into a license Ahmedabad - 380025, Gujarat
agreement with Aeropostale, Inc., the speciality youth retailer of casual and active apparel with over Website: www.arvind.com
1,000 locations across the globe. In Sep 2015, Arvind ventured into beauty and cosmetics segment
by entering into partnership with SEPHORA, beauty retailer with presence in 31 countries.

53,529.4 4,093.6 25,670.8 9,093.2 17.0 7.6 15.9
(As on Mar 31, 2015)

Welspun India Limited
About the Company
Welspun India Ltd (WIL) was established in 1985 as Welspun Winilon Silk Mills Pvt Ltd as a synthetic Top 500 Ranking
yarn company. The company acquired its present name in the year 1995. WIL is primarily engaged Income 177
in manufacturing of home textile products including terry towels, bed linen products and rugs.
WILs product portfolio includes beach towels, hand towels, bath sheets, bath robes, pillow cases, Net Profit 124
cotton bed sheets, cotton bamboo bed sheets, mattress pads, comforters, duvets, bed skirts, Networth 238
bolsters, coverlets, shams, decorative pillows, rugs and carpets. Majority of companys products
are exported to countries like US, Canada, UK and Europe. WILs manufacturing facilities are located Address
at Gujarat with an annual installed capacity for manufacturing 52,250 MT of towels, 11,570 MT of Welspun City,
rugs, 3,560 MT of carpets, 59,100 MT of bed sheets and 7,800 MT of advanced textile wipes. During Village Versamedi,
FY15, the company commissioned fine cotton yarn production unit with an installed capacity of Taluka Anjar,
170,000 spindles. During the year, the company acquired additional 50% share capital of Welspun Kutch - 370110, Gujarat
Zucchi Textiles Ltd making it a wholly owned subsidiary. Website: www.welspunindia.com

45,019.8 5,101.4 14,294.7 11,144.1 24.8 11.3 35.7
(As on Mar 31, 2015)
Trident Limited
About the Company
Trident Ltd (Trident), a flagship company of The Trident Group was established in the year 1990. Top 500 Ranking
Trident operates in four business segments viz. home textiles, yarn, paper & chemicals and energy. Income 202
Under home textiles, Trident offers variety of terry towels and bed linens under the brands Trident
Home Essentials, Trident Play, Trident Organic and Trident Cuddlies amongst others. Under yarn Net Profit 278
segment, it manufactures melange, core spun yarn, slub yran, compact yarn, modal yarn, viscose Networth 237
yarn and bamboo yarn. Trident manufactures variety of papers including diamond line, silverline,
cartridge, super line, and drawing paper and market them under brands like Spectra, Natural, My Address
Choice, Eco Green and Royal Touch. Trident under energy segment produces steam and power using Trident Complex,
eco-friendly process. Trident operates with an installed capacity of 0.37 mn spindles and 5,500 Raikot Road, Barnala,
rotors capable of manufacturing 8,400 MT of cotton and blended yarn per month. In Nov 2015, Sanghera - 148101, Punjab
launched Trident Digiprint, a premium paper suitable for digital printing and it incorporated a Website: www.tridentindia.com
wholly owned subsidiary, Trident Europe Ltd in UK.

37,880.2 1,178.2 14,297.0 6,733.9 17.8 3.1 8.2
(As on Mar 31, 2015)
SRF Limited
About the Company
SRF Ltd (SRF) was incorporated in 1970 as a manufacturer of nylon tyre cord. SRF operates in Top 500 Ranking
three segments namely, Technical Textiles Business (TTB), Chemicals & Polymers Business (CPB) Income 211
and Packaging Films Business (PFB). Under TTB segment SRF manufactures nylon tyre cord fabric,
belting fabric, coated fabric, laminated fabric and industrial yarns. CPB segment of company offers Net Profit 181
fluorochemicals, refrigerants, chlorinated solvents, speciality chemicals and engineering plastics. Networth 184
SRF manufactures BOPET and BOPP films in its PFB segment. SRF has four plants for CPB, five plants
for TTB and two plants for PFB segments across Rajasthan, TN, MP, Gujarat and Uttarakhand. In Address
FY15, SRF acquired DuPonts global 134a regulated medical pharmaceutical propellant business C-8, Commercial Complex,
under which company will own DuPont Dymel brand. In Feb 2016, SRF commissioned plant for Safdarjung Development Area,
manufacturing of speciality chemicals at Dahej, Gujarat. During the year, SRF divested its stake in New Delhi - 110016, Delhi
SRF Transnational Holdings Ltd and SRF Properties Ltd. Website: www.srf.com

36,613.5 3,077.3 22,656.8 6,821.0 18.6 8.4 13.6
(As on Mar 31, 2015)

RSWM Limited
About the Company
RSWM Ltd (RSWM), a flagship company of the LNJ Bhilwara Group operates in three business Top 500 Ranking
segment namely, yarn, fabric and denim. The product portfolio of yarn business include acrylic Income 240
cotton yarn, ultima yarn, dyed bamboo yarn, dyed synthetic melange yarn, elitwist yarn, tencel
yarn and sewing thread yarn amongst others. RSWM also manufactures a range of blended suiting Net Profit 316
fabrics and markets it under the brand Mayur. RSWM operates eleven manufacturing facilities with Networth 411
an annual installed capacity of 505,000 spindles, 176 looms, 140,000 MT of yarn, 36 MMPA of fabric
including denim fabric. The products of RSWM are exported to over 78 countries across Europe, Address
Americas, Middle East, Africa, South East & Far East Asia. In May 2015, RSWM commissioned 25,344 Kharigram,
spindle manufacturing unit at Kanya Kheri to produce cotton and cotton blended melange yarn. In P. O. Gulabpura,
FY15, RSWM produced 0.12 MMT of yarn, 9,913 MT of melange yarn, 17.3 mn mtrs of fabric and Bhilwara - 311021, Rajasthan
155.75 mtric denim fabrics. In FY15, yarn business accounted to around 70% of its total revenue. Website: www.rswm.in

30,348.8 848.6 4,366.0 3,710.0 12.2 2.8 19.4
(As on Mar 31, 2015)
Raymond Limited
About the Company
Raymond Ltd (Raymond) was established in 1925 as Raymond Woollen Mill Ltd at Thane, Top 500 Ranking
Maharashtra. In 1964, the company set up a new division for multi-fibre processing and technology Income 250
improvements to make blended fabrics. The company acquired its present name in 1994. Raymond
is primarily involved in integrated manufacturing of worsted fabric. It produces high-value pure- Net Profit 298
wool, wool-blended and premium polyester viscose worsted suiting in addition to half a million Networth 281
blankets and shawls. Raymond offers textile products under various categories like worsted, tailored
clothing, denim, Jeanswear, shirting, dress shirts, corporate wear and woollen outerwear amongst Address
others. The company markets its products under various brands such as Raymond, Park Avenue, Plot No 156/H No 2,
Parx, Makers and ColorPlus. As on Mar 31 2015, Raymond had a wide network of 1,003 retail stores Village Zadgaon,
including 43 overseas stores across all formats including The Raymond Shop, The exclusive Brand Ratanagiri - 415612, Maharashtra
Outlet and Made-to-Measure. Website: www.raymond.in

27,716.0 1,019.4 11,672.3 3,490.0 12.6 3.7 8.7
(As on Mar 31, 2015)
Indo Rama Synthetics (India) Limited

About the Company
Indo Rama Synthetics (India) Ltd (Indo Rama) commenced its Indian operations in 1989 and in 1994 Top 500 Ranking
set up an integrated manufacturing complex in technical collaboration with DuPont, US Toyobo Income 251
and Japan. Indo Rama primarily manufactures polyester products and its product basket includes
Polyester Staple Fibre (PSF), Partially Oriented Yarn (POY), Draw Texturised Yarn (DTY), Fully Drawn Net Profit 475
Yarn (FDY), and textile grade chips. The specialty products basket comprise super high tenacity PSF Networth 391
(SHT fi bre), Optical White (OPW) and Optical Bright (OB) and Dope Dyed Black (DDB) PSF fibre,
Trilobal bright POY, DTY and FDY. The companys integrated manufacturing complex in Nagpur, MH Address
has a production capacity of 610,050 tonnes per annum. The companys technology partners in 31-A,
FY15 included Zimmer AG, Germany; Chemtex Intl. Inc., US; Oerlikon Barmag, Germany; Teijin Seiki, MIDC Industrial Area,
Japan and LTG Ameliorair, France among others. In FY15, the company increased the number of DTY Butibori,
machines from 56 to 65 in which eight old DTY machines were replaced with eight higher capacity Nagpur - 441122, Maharashtra
machines. Website: www.indoramaindia.com

27,711.9 (158.0) 5,389.5 1,114.4 4.0 (0.6) (2.9)
(As on Mar 31, 2015)

The Bombay Dyeing and Manufacturing Company Limited
About the Company
The Bombay Dyeing and Manufacturing Company Ltd (Bombay Dyeing), belonging to the Wadia Top 500 Ranking
Group of Companies, was established in 1879. In FY15, the companys business segments included Income 273
textiles, polyester and real estate and accounted for nearly 24%, 57% and 19% of the companys
revenue respectively. The companys polyester division is engaged in manufacture of 100% polyester Net Profit 424
staple fibre & textile grade PET chips. The company manufacture a wide range of PSF from 0.6 to Networth 406
7 deniers including a variety of differentiated and specialty products such as micro, optical white,
dope dyed black, trilobal, hollow, spun lace and super high tenacity fibers. Its applications are for Address
apparel and home furnishing, wipes, diapers, hygiene products, fibrefill, automobiles, geotextiles Neville House,
and other industrial products such as filters & insulation material. The companys retail business by J. N. Heredia Marg,
the brand Home & You comprises bed and bath products, carpets, rugs, cushions, lamps and photo Ballard Estate,
frames among others. Mumbai - 400001, Maharashtra
Website: www.bombaydyeing.com

24,331.8 245.6 4,578.7 2,531.5 10.4 1.0 5.4
(As on Mar 31, 2015)
Nahar Spinning Mills Limited

About the Company
Nahar Spinning Mills Ltd (Nahar Spinning), a Nahar group company, was incorporated in 1980 as a Top 500 Ranking
private limited company and subsequently became public limited in 1983. In 1992, the company Income 300
ventured into spinning industry. Nahar Spinning is engaged in manufacturing and export of yarn
and knitted garments. Nahar Spinning produces wide range of 100% cotton yarns available in Net Profit 434
single, double, multi-fold, slub and compact on cones. The companys product portfolio comprises Networth 343
raw white combed yarn, raw white carded yarn, dyed yarn, organic cotton yarn, fair trade cotton
yarn, melange yarn, compact spun yarn, synthetic yarn and specialised yarn amongst others. The Address
company has eight manufacturing facilities located in Punjab and MP. The company exports its 373,
products to markets such as US, UK, France, Brazil, Egypt, Russia, Canada, Japan, Korea, Taiwan, Industrial Area - A,
Chile and Mauritius amongst others. As on Mar 31, 2015, the company had an installed capacity of Ludhiana - 141003, Punjab
0.5 mn spindles and 1,080 rotors for manufacturing of cotton, synthetic and blended yarns. In FY15, Website: www.owmnahar.com
the companys export accounted for 64.8% of its total revenue.

21,592.8 184.1 7,603.2 2,241.5 10.4 0.9 2.4
(As on Mar 31, 2015)
K.P.R. Mill Limited

About the Company
K.P.R. Mill Ltd (KPR Mill) was incorporated in 2003 as K.P.R. Cotton Mills Pvt Ltd. In 2005, K.P.R. Mill Top 500 Ranking
Pvt Ltd and K.P.R. Spinning Mill Pvt Ltd were consolidated into K.P.R. Cotton Mills Pvt Ltd through Income 305
a merger process. Consequent to the merger, the company acquired its present name. KPR Mill
undertakes manufacturing and marketing of readymade knitted apparels, knitted fabric and cotton Net Profit 250
yarn. The company operates manufacturing facilities located in the state of TN with a cumulative Networth 314
capacity of 0.35 mn spindles to produce 90,000 MTPA of yarn; knitting facility to produce 27,000
MTPA of fabrics; garmenting facility to produce 59 mn pcs per annum of ready-made knitted apparel Address
and processing facility to process 9,000 MTPA of fabrics. KPR Mill also operates 66 wind mills with No. 9, Gokul Buildings,
total power generation capacity of 61.92 MW and through its subsidiary, a Co-en cum sugar unit 1st Floor, A.K.S. Nagar,
with a capacity of 5,000 TCD and 30 MW. In FY15, KPR Mill produced 76.8 mn kgs of yarn and Thadagam Road,
processed 6.6 mn kgs of fabric. Coimbatore - 641001, TN
Website: www.kprmilllimited.com

21,023.7 1,459.8 8,784.0 3,748.2 17.8 6.9 16.6
(As on Mar 31, 2015)

Sutlej Textiles and Industries Limited
About the Company
Sutlej Textiles and Industries Ltd (Sutlej Textiles), a flagship unit of the K K Birla group, was Top 500 Ranking
incorporated in 2005 as a result of a demerger of the textiles division of Sutlej Industries Ltd and Income 327
Damanganga Processors Ltd. The company is engaged in manufacturing of yarn, processing of
fabrics and home textiles furninshing. It manufactures wide range of yarn including low piling yarn, Net Profit 280
hamel covered yarns, cationic dyeable yarns, tencel yarn, lycra yarn and lyocell yarn amongst others. Networth 381
Product range in the home textiles division of the company include furnishing fabrics and made ups
of jacquard and dobby weaves of fibre such as cotton, polyester, rayon blends, chenille, flax, silk, Address
jute, linen etc. Sutlej Textiles has three manufacturing plants located at Rajasthan, J&K and Gujarat. Pachpahar Road,
The company exports to over 61 countries across the world. As on Mar 31, 2015 the company had Bhawani Mandi,
yarn spinning capacity of 293,736 spindles. In Sep 2015, the company completed purchase of Birla Kota - 326502, Rajasthan
Textile Mills, a textile division of Chambal Fertilisers and Chemicals Ltd. Website: www.sutlejtextiles.com

19,178.9 1,161.4 5,594.1 2,706.2 14.1 6.1 20.8
(As on Mar 31, 2015)
Nahar Industrial Enterprises Limited

About the Company
Nahar Industrial Enterprises Ltd (NIEL), a part of the Nahar group, was incorporated as Oswal Fats Top 500 Ranking
& Oils Ltd in 1983 and acquired its present name in 1994. In 1997, the company was merged with Income 338
Nahar Fabrics Ltd and commenced manufacturing of greige fabrics. In 2002, the company entered
into the business of readymade garments post the merger of Oswal Cotton Mills Ltd. NIEL operates Net Profit 478
in three main business segments viz. yarn, fabrics and sugar. NIEL manufactures cotton yarns, Networth 377
cotton dyed yarns, spun yarn, industrial yarn, polyester yarn, specialized yarn, open end yarns,
blended yarns and vortex yarn. The fabrics manufactured by NIEL include includes speciality fabrics, Address
indigo dyed yarn shirting and performance fabrics amongst others. NIEL operates six manufacturing Focal Point,
units located in the states of Punjab and Rajasthan. In FY15, textile division of the company which Ludhiana - 141010, Punjab
comprises yarn and fabric accounted for over 93.3% of companys total revenue. In FY15, the Website: www.owmnahar.com
company produced 69,890 MT of yarn, 70.2 mn meter of fabrics and 0.4 mn qntls of sugar.

18,086.1 (280.1) 5,777.4 1,939.0 10.7 (1.5) (4.8)
(As on Mar 31, 2015)
Mandhana Industries Limited

About the Company
Mandhana Industries Ltd (Mandhana) was incorporated in 1984 as Mandhana Textile Mills Pvt Top 500 Ranking
Ltd and acquired its present name in 1995. Mandhana operates in two business segments namely Income 350
garments and fabrics with the fabric business accounting for nearly 80% of the companys revenue.
The company has its presence across entire spectrum comprising designing, yarn dyeing, weaving, Net Profit 320
processing, printing and garment manufacturing. The companys 1mn-piece garmenting facility Networth 371
at Baramati, MH commenced operations in Mar 2015. The companys garment portfolio includes
readymade woven items such as mens shirts, womens blouses, tops, dresses, and skirts, casual Address
bottom wear, kidswear, sportswear etc. The companys manufacturing facilities are located in Plot No. C-3,
MIDC Tarapur (yarn dyeing, weaving, fabric processing and garmenting) along with five garmenting MIDC,
units in Bengaluru and one unit at Baramati, MH. In Mar 2016, the company got approval and Tarapur Industrial Area, Boisar,
sanctioned the scheme of arrangement for demerger of its retail business of brand Being Human Thane - 401506, Maharashtra
into Mandhana Retail Ventures Ltd with the scheme being effective from Apr 1, 2014. Website: www.mandhana.com

16,924.6 830.9 5,962.6 2,754.2 16.3 4.9 13.9
(As on Mar 31, 2015)

Indo Count Industries Limited
About the Company
Indo Count Industries Ltd (Indo Count) was incorporated in 1988 as a public limited company. In Top 500 Ranking
2006, the company set up home textile division in Maharashtra and in 2008 it acquired Pranavaditya Income 353
Spinning Mills Ltd (PSML) having capacity of 20,496 spindles. The company is a vertically integrated
textile manufacturing company engaged in manufacturing and export of cotton yarn, grey knitted Net Profit 235
fabrics and made-ups. Indo Counts home textile division manufactures a range of products Networth 452
including bed sheets, pillow cases, duvet covers, bed skirts, comforters, quilts, window covering
and institutional linen amongst others under its home textile division. Some of its brands include; Address
Infinity Cotton, True grip, NeoFresh, The Complete Sheet and Aerosateen among others. Indo Count 1, Plot 266, Village Alte,
exports to 49 countries including; US, Canada, Brazil, Mexico, Germany, Spain, UAE, Korea and Kumbhoj Road,
France amongst others. The company operates manufacturing facilities in Kolhapur, Maharashtra. Taluka Hatkanangale,
In FY15, the company expanded its capacity by 50% from 45 mn meters to 68 mn meters p.a. Some Kolhapur - 416109, Maharashtra
of its new offerings during the same period include; fashion bedding, institutional linens and utility Website: www.indocount.com
bedding.

16,799.4 1,647.8 3,111.5 2,660.0 15.8 9.8 53.0
(As on Mar 31, 2015)
Filatex India Limited

About the Company
Filatex India Ltd (Filatex) was incorporated in 1990. In 2008, the company diversified itself into Top 500 Ranking
special polyester filament yarns like micro denier polyester filament yarn. The company is primarily Income 365
engaged in manufacturing of synthetic yarn and textiles. The product portfolio of Filatex include
polyester filament yarn, polypropylene filament yarn, draw texturised yarn, partially oriented yarn Net Profit 453
(POY), fully drawn yarn (FDY), textile grade chips, narrow customised fabrics and monofilament Networth 492
yarns. Filatex operates through its facilities located in UP, D&NH and Gujarat. Filatex is undertaking
expansion scheme for manufacture of high value added products viz. 100 MT/day of FDY, 30 MT/ Address
day of POY from direct melt capacity along with 200 MT/day of POY texturing at Dahej at a capital S. No. 274,
cost of ` 2.4 bn. In FY15, the company produced 105,182 MT of POY, 67,821 MT of polyester chips, Demni Road,
12,488 MT of FDY and 6,157 MT of polypropylene yarn. In Nov 2015, the company formed a wholly Dadra - 396191, D&NH
owned subsidiary in Singapore by the name Filatex Global Pte. Ltd. Website: www.filatex.com

15,824.6 96.0 1,702.5 707.3 4.5 0.6 5.6
(As on Mar 31, 2015)
Page Industries Limited

About the Company
Page Industries Ltd (Page) was incorporated in 1994 as Page Apparel Manufacturing Pvt Ltd. In Top 500 Ranking
August 2006, the name of the company was changed to Page Industries Pvt Ltd. Subsequently, in Income 372
September 2006, it assumed its present name when it became a public limited company. Page is
the exclusive licensees of JOCKEY International Inc. (USA) for manufacture and distribution of the Net Profit 219
Jockey brand innerwear/ leisurewear for men and women in India, Sri Lanka, Bangladesh, Nepal and Networth 423
UAE. The company also has an exclusive licensee of Speedo International Ltd. for the manufacture,
marketing and distribution of the Speedo brand in India. Speedo provides a wide range of products Address
which includes swimwear, water shorts, apparel, equipments and footwear. The Speedo brand is 1, Umiya Business Bay,
now available across 950 plus stores including large format stores in 74 cities and right Speedo Varthur Hobli, Cessna Business Park,
exclusive brand outlets located in Delhi, Gurgaon, Pune, Bangalore, and Chennai. Page has a wide Outer Ring Road,
spread pan India distribution including over 30,000 plus retail outlets in 1,200 cities and towns. In Bengaluru - 560103, Karnataka
FY15, it expanded its installed capacity to 194 mn units across its plants spread in 13 locations in Website: www.jockeyindia.com
Karnataka.

15,516.3 1,960.2 3,848.6 3,276.1 21.1 12.6 50.9
(As on Mar 31, 2015)

Siyaram Silk Mills Limited
About the Company
Siyaram Silk Mills Ltd (Siyaram) was incorporated in the year 1978. In the same year, it set up its Top 500 Ranking
first processing plant at Tarapur under group company Balkrishna Industries Ltd. In 1984, it entered Income 378
in to backward integration of manufacturing texturised yarn and further in 1995 it tied up with J.
Hampstead of Italy/England to market 100% pure wool suiting in India. The company operates in the Net Profit 326
textile business and its product portfolio encompasses yarn, fabrics, home furnishings and ready to Networth 412
wear apparel. The company has various brands available in the market namely Siyarams, Miniatur,
Casa Moda, J. Hampstead, MSD, Oxemberg, Little Champs, Unicode, Zenesis, Moretti, Royale Linen Address
and Mistair. In Nov 2015, the company approved the opening of a branch office in the US and/ or H 3 / 2 A-Road,
UAE for marketing the companys products. In Dec 2015, the company approved the amalgamation Tarapur Boisar,
of its wholly owned subsidiary Balkrishna Synthetics Ltd with itself; with the appointed date of MIDC,
scheme being effective from Apr 1, 2015. Thane - 401506, Maharashtra
Website: www.siyaram.com

15,265.3 787.9 4,328.7 1,903.0 12.5 5.2 18.2
(As on Mar 31, 2015)
Sangam (India) Limited

About the Company
Sangam (India) Ltd (Sangam), the flagship company of Sangam Group, was incorporated in 1984 Top 500 Ranking
as Arun Synthetics Pvt ltd and started operations in 1985. In 1992, the name company acquired Income 384
its present name. The company forayed into production of denim fabric in 2007 and graduated
to being a branded denim manufacturer by 2012. Sangam primarily operates in textile segment Net Profit 367
with presence in PV yarn (57% share of revenue) and fabrics (37% share of revenue). Its product Networth 430
portfolio includes PV yarns, PV dyed yarn, cotton yarn, woven fabrics, branded suiting, denim fabric
and texturised yarn. As of FY15, the company had a spinning capacity of 211,296 spindles and 3,128 Address
rotors; weaving capacity of 437 looms; and processing capacity of 53 mn meters p.a. The companys Atun,
flagship brands include Sangam Suitings and Sangam Denim. In 2015, the company forayed Chittorgarh Road,
into seamless garments with brand Channel Nine. In FY16, the company approved an expansion Bhilwara 311001, Rajasthan
programme having outlay of ` 1,980 mn. Website: www.sangamgroup.com

14,796.8 515.7 3,711.6 2,158.4 14.6 3.5 13.9
(As on Mar 31, 2015)
Loyal Textile Mills Limited

About the Company
Loyal Textile Mills Ltd (Loyal Textile Mills) was established in the late 1800s as a spinning and Top 500 Ranking
weaving mill. In 2006, it commissioned its first open width continuous dyeing plant in 2006. The Income 395
companys spinning, knitting, weaving, ginning & garment manufacturing plants are located in
Kovilpatti, Sattur Taluk and Sivagangai in TN and Nellore & Khammam districts of AP. The primary Net Profit 444
business segments of Loyal Textile Mills comprise yarn, yarn for trading, cloth, cloth trading and Networth 498
garments. In FY15, yarn, cloth (including hosiery cloth) and garments accounted for 32%, 62% and
6% of the companys total revenue. In FY15, exports accounted for more than 80% of the companys Address
total revenue with Asia accounting for nearly 60% of the companys total exports. The companys 21/4,
wholly owned subsidiary Loyal International Sourcing Pvt Ltd commenced operations in FY15 and Mill Street,
will procure garments for overseas retail chains. In FY15, the company commissioned a 3.3 MW Kovilpatti - 628501, TN
solar power plant at Sattur unit. Website: www.loyaltextiles.com

14,130.6 149.9 1,312.2 1,601.5 11.3 1.1 11.4
(As on Mar 31, 2015)

Banswara Syntex Limited
About the Company
Banswara Syntex Ltd (Banswara Syntex) was incorporated in 1976 as a spinning mill. The company Top 500 Ranking
started the production of fabrics in 1993 and readymade garments in 2004. In 2006, it entered into Income 430
JV with Carreman, a French company for manufacturing fabrics with lycra and in 2012 it entered into
JV with Treves SA for automotive textiles. The company is a vertically integrated textile mill which Net Profit 455
is engaged in manufacturing of man-made synthetic blended yarn, wool and wool mixed yarn, all Networth 480
type of fabrics, jacquard furnishing fabrics, readymade garments, automotive fabric, fire-retardant
fabric and technical fabrics. The company exports to over 60 countries including US, Canada, UAE, Address
Greece, Mexico, France, UK and Russia to name a few. As on Mar 31, 2015, the company had an Post Box No 21,
installed capacity of manufacturing 151,672 spindles of yarn including 130,552 spindles of synthetic Industrial Area,
blended yarn and 21,120 spindles of worsted yarn. It also has processing capacity of processing 60 Banswara - 327001, Rajasthan
mn mtrs of fabric and 384,000 garment pieces per month. In FY15, Banswara Syntex produced 32 Website: www.banswarasyntex.com
mn kg of yarn and 34.9 mn mtrs of fabric. During the year, Banswara Global Ltd became subsidiary
of the company.

12,430.5 80.3 2,235.0 1,481.6 11.9 0.6 3.6
(As on Mar 31, 2015)
Century Enka Limited

About the Company
Century Enka Ltd (CEL), a part of B. K. Birla Group of Companies, was incorporated in 1965 and Top 500 Ranking
is among the leading manufacturers of nylon filament yarn. The companys primary business Income 434
segments include manufacture and sale of synthetic yarn and tyre cord fabric. The product portfolio
includes polyester filament yarn, nylon filament yarn, polyester POY, polyester and nylon chips Net Profit 390
of industrial and fabric grade and nylon industrial yarn and nylon tyre cord fabrics. CEL has two Networth 356
manufacturing factories, one each located at Pune, MH and Bharuch, Gujarat. The Punebased
plant produces high tenacity nylon (Polyamide 6) and polyester industrial yarns and Greige tyre Address
cord fabrics among other products. In FY15, the company commissioned its second dipping plant Plot No.72 & 72-A,
to meet the growing demand from tyre companies for dipped fabric and undertook modernization MIDC, Bhosari,
techniques by replacing remaining two steps process plant by single step. During the same period, Pune - 411026, Maharashtra
a part of continuous process polymerline at Bharuch site was converted into non continuous and Website: www.centuryenka.com
put into operation for manufacture of nylon filament yarn.

12,255.5 387.7 7,074.0 1,229.6 10.0 3.2 5.5
(As on Mar 31, 2015)
Gokaldas Exports Limited

About the Company
Gokaldas Exports Ltd (GEL), established in 1978, is engaged in the business of apparel manufacture Top 500 Ranking
and export. As on Mar 31, 2015 the company had 26 units across Karnataka, TN and AP with installed Income 454
capacity to produce more than 2.5 mn garments per month. Its diversified product portfolio includes
outerwear, bottoms, sportswear, formal suits, trousers, skirts, and denim wear for men, women and Net Profit 469
kids. Exports account for more than 80% of the companys revenue. The companys major export Networth 495
destinations include the US, Europe, Latin America, Middle East. In FY15, jackets, pants and tops/
shirts accounted for nearly 36%, 21% and 24% of the business respectively. In FY15, Europe and Address
North America accounted for nearly 40% and 24% of the companys export revenue. Some of the No.16/2,
companys major customers include Abercrombie & Fitch, Adidas, All Saints, American Eagle, Lee, Residency Road,
Marks & Spencer, Mexx and Macys among others. Bengaluru - 560025, Karnataka
Website: www.gokaldasexports.com

11,163.0 (91.9) 1,557.5 1,036.2 9.3 (0.8) (5.9)
(As on Mar 31, 2015)

Nandan Denim Limited
About the Company
Nandan Denim Ltd (NDL), a part of the Chiripal Group, commenced its textile trading business in Top 500 Ranking
1999 and forayed into denim manufacturing in 2004. It came out with its IPO in 2006. In 2014, Income 460
the company increased its spinning capacity to 64 TPD, installed yarn dyed shirting capacity of 10
MMPA and installed yarn dyeing capacity of 6 TPD. NDL is engaged in in the manufacture of denims, Net Profit 368
cotton fabrics and khakis through fully integrated facilities with its manufacturing plant located Networth 471
at Ahmedabad, Gujarat. The companys product range includes basic denim, basic cotton stretch,
basic poly stretch, woven knitted denim, yarn dyed colour denim, poly sateen denim and specialty Address
yarn denim among others. The company exports its products to more than 27 countries and exports Survey No 198/1, 203/2
account for nearly 13% of the companys total revenue. NDLs expansion plans as on Mar 31, 2015 Sajipur-Gopalpur,
included denim fabric capacity expansion from 71 MMPA to 110 MMPA, increasing spinning capacity Pirana Road, Piplej,
from 54 TPD to 124 TPD and establishing a yarn dyed shirting capacity of 10 MMPA. Ahmedabad - 382405, Gujarat
Website: www.nandandenim.com

10,995.8 514.3 2,586.1 1,684.9 15.3 4.7 19.9
(As on Mar 31, 2015)
Mafatlal Industries Limited

About the Company
Mafatlal Industries Ltd (Mafatlal Industries), a part of Arvind Mafatlal Group, was originally started Top 500 Ranking
in 1905 by setting up a textile mill in Ahmedabad, Gujarat. In 1996, it formed a JV with US-based Income 480
Burlington Industries for manufacturing denim fabrics. In 2012 it launched home furnishing range
with terry towels and bed sheets. In 2013, Mafatlal Denim Ltd was amalgamated with the company. Net Profit 443
The companys product portfolio consists of yarn dyed suitings and shirtings, voiles, prints, linens, Networth 434
bleached white fabrics, rubia, value added and fashion denims, school uniform fabrics, corporate/
institutional uniforms, bed & bath linen among others. The companys two vertically integrated Address
composite manufacturing facilities are located in Gujarat, one each at Nadiad and Navsari. In Mar 301-302, Heritage Horizon,
2015, Mafatlal Industriess textiles division commissioned a new printing facility at its Nadiad plant. Third Floor, off. C.G. Road,
The capacity of the companys denim division increased from 25 MMPA to 30 MMPA at its Navsari Navrangpura,
plant. The company launched designer collections in the school uniform segment. Ahmedabad - 380009, Gujarat
Website: www.mafatlals.com

10,446.9 153.8 3,645.7 564.9 5.4 1.5 4.2
(As on Mar 31, 2015)
Himatsingka Seide Limited

About the Company
Himatsingka Seide Ltd (Himatsingka Seide) was incorporated in 1985. The company is a vertically Top 500 Ranking
integrated home textile major with focus on the manufacturing, retailing and distribution of Income 491
home textile products. Some if its offerings include; bedding, bath, drapery, upholstery and
lifestyle accessory products. The company operates two state-of-the art and vertically integrated Net Profit 289
manufacturing facilities across Bangaluru and Hassan in Karnataka. As on Mar 2015, the company Networth 360
had an installed capacity of 25 mmpa. It operates retail and distribution business across North
America through its subsidiaries DWI Holdings Inc (DWI) and Divatex Home Fashion Inc (DHF). DWI Address
Holdings is the licensee of brands such as Calvin Klein Home and Barbara Barry, and Divatex is the No. 10/24,
licensee of Esprit and caters to Private Label programs of major retailers. It also operates exclusive Kumarakrupa Road,
stores in India and Europe through its Atmosphere and Bellora brands respectively. Till FY15, the High Grounds,
company had global presence through its 7000 plus point of sale. Bengaluru - 560001, Karnataka
Website: www.himatsingka.com

9,856.9 1,093.4 6,752.3 1,844.5 18.7 11.1 16.2
(As on Mar 31, 2015)

Rupa & Company Limited
About the Company
Rupa & Company Ltd (Rupa) was incorporated in the year 1985. In 1995, the company took over the Top 500 Ranking
business of Binod Hosiery and in 2013, it launched the brand Macrowoman, Torrido Thermal Wear. Income 495
Rupa is engaged in the manufacturing, branding and marketing of mens and womens innerwear
and casual wear for kids and all sections of societies like economy, mid- premium, premium and Net Profit 348
super- premium. The company market its products under the brands Frontline, Euro, Bumchums, Networth 450
Softline, Softline Leggings, Macroman, Footline, Jon, Torrido and Thermocot. The company operates
through manufacturing facilities located at Bengaluru, Tirupur, Domjur and Ghaziabad and sales Address
offices located at Patna, Varanasi, Mumbai, Jaipur, Indore, Delhi, Ghaziabad, Kanpur, Bengaluru, 1, Ho Chi Minh Sarani,
Tirupur, Hyderabad and Kolkata. Rupa has a wide distribution network with its products sold Metro Tower, 8th Floor,
through 118,000 retail outlets. The company export its products to African and Asian countries. In Kolkata 700071, WB
Apr 2016, Rupas subsidiary Oban Fashions Pvt Ltd entered into a definitive license agreement with Website: www.rupa.co.in
French Connections Ltd to develop, manufacture, market and sell innerwear and related products
with the brand name FCUK in India.

9,740.2 657.1 3,139.8 1,380.2 14.2 6.7 20.9
(As on Mar 31, 2015)

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T r ad i n g
Trading
Comparative Matrix

Company Name
1 MMTC Limited 184,092.7 248.6 13,556.6 0.1 1.8
2 Adani Enterprises Limited 162,125.0 4,778.4 102,519.1 2.9 4.7
3 The State Trading Corporation of India Limited 147,029.2 261.9 1,414.1 0.2 18.5
4 Ushdev International Limited 89,345.3 2,034.9 8,580.3 2.3 23.7
5 Kothari Products Limited 46,659.0 493.1 7,415.5 1.1 6.6

MMTC Limited
About the Company
MMTC Ltd (MMTC), incorporated in 1963, is engaged in trading activities of metals, minerals, Top 500 Ranking
precious metals, agro products, fertilizers and coal & hydrocarbons among others. In FY15, the Income 53
companys business included exports of ` 23,007 mn, imports of ` 14,5301.5 mn and domestic
trade of ` 14,065.9 mn. In FY15, under its minerals business, MMTC exported iron ore, manganese Net Profit 423
ore, chrome ore. In FY15, the precious metals refinery of MMTC-PAMP India Pvt Ltd (MPIPL), the Networth 249
companys medallion manufacturing unit, created as a joint venture with Switzerland-based PAMP,
was added to the LBMAs (London Bullion Market Association) Good Delivery List. Under the metals Address
and industrial raw material segment, the company exports pig iron and import non-ferrous metals & Scope Complex 7, Core - 1,
industrial raw materials. In FY15, the company received a purchase orders from L&T and Ordnance Lodi Road,
Factories for supply of primary zinc ingots. In FY15, the company added a new product re-gasified Institutional Area,
liquefied natural gas (RLNG) in its fertilizers and chemicals segment. New Delhi - 110003, Delhi
Website: www.mmtclimited.com

184,092.7 248.6 13,556.6 920.7 0.5 0.1 1.8
(As on Mar 31, 2015)
Adani Enterprises Limited

About the Company
Adani Enterprises Ltd (AEL) is the flagship company of Adani Group. AEL along with its subsidiaries Top 500 Ranking
operates in diversified businesses of coal trading, coal mining, oil and gas exploration, ports, power Income 59
generation, transmission and gas distribution and edible oil and agro commodities. The companys
business can be broadly classified into three segments viz. resources, logistics and energy. AEL Net Profit 130
develops and operates mines in India, Indonesia and Australia, and also imports and trades in coal Networth 75
with many other countries. Through its subsidiary Adani Ports and Special Economic Zone Ltd, AEL
owns and operates six ports and terminals in Gujarat, Odisha, Goa and AP. AEL has also ventured into Address
the agro business through three agro verticals - Adani Wilmar Ltd, Adani Agri Logistics Ltd and Adani Adani House,
Agri Fresh Ltd. In FY15, 2015, AEL signed a MoU with Australias Woodside Energy for cooperation Near Mithakhali Six Roads,
for exploring business opportunities across a broad spectrum in the oil and gas sector in India. In Navrangpura,
Feb 2016, AEL incorporated a wholly owned subsidiary namely Korba Clean Coal Pvt Ltd. Ahmedabad - 380009, Gujarat
Website: www.adanienterprises.com

162,125.0 4,778.4 102,519.1 13,302.7 8.2 2.9 4.7
(As on Mar 31, 2015)
The State Trading Corporation of India Limited

About the Company
The State Trading Corporation of India Ltd (STC) was set up in 1956 as an international trading house Top 500 Ranking
owned by the GoI. The business activities of STC can broadly be classified into three categories Income 60
viz. import of items like edible oils, pulses and fertilizers on behalf of the GoI; business carried
out on behalf of business associates on back-to-back basis and direct buying and selling in items Net Profit 419
like tea, soyabean seed, chana, etc. STC exports leather products, processed foods, extractions, Networth 497
castor oil/seed, sugar, spices, jute goods, iron ore, chemicals, pharmaceuticals, light engineering
goods, construction materials and consumer goods amongst others. It also imports hydrocarbons, Address
minerals, metals, fertilisers, petro-chemicals, IT products, and raw materials for the Indian industry. Jawahar Vyapar Bhawan,
In FY15, the company entered into a long term contract with Iranian Railways for export of 2.5 MMT Tolstoy Marg,
of rails. STC entered into a MoU with Kerala State Cashew Development Corporation Ltd for import New Delhi - 110001, Delhi
of raw cashew nuts and imported raw cashews worth ` 1 bn on their behalf in FY15. Website: www.stc.gov.in

147,029.2 261.9 1,414.1 2,103.8 1.4 0.2 18.5
(As on Mar 31, 2015)

Ushdev International Limited
About the Company
Ushdev International Ltd (Ushdev) was incorporated in 1994 and diversified into wind power Top 500 Ranking
generation in the year 1997. It operates in two different business sectors - trading in metals i.e. Income 104
ferrous and non-ferrous and wind power generation. It has a total installed capacity of 28.3 MW
of wind power generation. Its wind power generation plants are based at Tamil Nadu, Rajasthan, Net Profit 213
Gujarat, Karnataka and Maharashtra. In FY15, the company had one subsidiary and one associate Networth 319
company namely; Hobli Property Management Pvt Ltd and Vijay Devraj Gupta Foundation. The
company trades in all products of steel from raw materials to flat products and long products such Address
as angles, beams, channels, billets, ingots, pipes, rods, wires, carbon & stainless steel bars / rods / 6th Floor,
structures and wires among others. Some of its non-ferrous offerings include; copper cathodes, non New Harileela House,
LME registered copper cathodes, copper scrap, copper rods and copper concentrates, nickel wires, Fort,
nickel cathodes and nickel briquettes among others. Presently, Ushdev imports different forms of Mumbai - 400001, Maharashtra
metals from 26 countries and also exports different forms of metals to 28 countries worldwide. Website: www.ushdev.com

89,345.3 2,034.9 8,580.3 3,736.8 4.2 2.3 23.7
(As on Mar 31, 2015)
Kothari Products Limited

About the Company
Kothari Products Ltd (Kothari Products), a flagship company of Kothari Group of Companies was Top 500 Ranking
incorporated in 1983. The company has a diversified business which can be classified in three Income 171
segments viz. real estate, investments and international trade. Under the real estate segment the
company and its associates along with other promoter group companies makes investment in the Net Profit 372
real estate sector in the commercial, residential, retail, hospitality segments, land and development. Networth 347
Under investment business, it invests its funds in stocks and MFs along with subscribing share
capital of its subsidiaries. Under international trade, Kothari Products undertakes import and Address
export of various commodities including agro based commodities, minerals, metals, petroleum Pan Parag House,
products, coal, tiles, notebook, copier paper, steel, scrap and PVC amongst others. The company 24/19, The Mall,
also manages 350 keys hotel operational in Kolkata which is operated and managed by International Kanpur 208001, UP
Group Accor Hotels under the brand NOVOTEL. In Dec 2015, the company increased its stake to Website: www.kothariproducts.in
50% in SPPL Hotels Pvt Ltd, an associate company engaged in running hotels.

46,659.0 493.1 7,415.5 896.4 1.9 1.1 6.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

T ransport and L ogistics
Transport and Logistics
Comparative Matrix

Company Name
1 Container Corporation of India Limited 59,443.2 10,475.5 75,939.5 17.6 13.8
2 Blue Dart Express Limited 22,929.8 1,268.4 2,314.3 5.5 54.8
3 Transport Corporation of India Limited 22,091.3 761.1 5,593.7 3.4 13.6
4 Allcargo Logistics Limited 11,792.1 974.9 12,766.2 8.3 7.6

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income 138
Container Corporation Net Profit 77
of India Limited Net Worth 88
Anil Kumar Gupta, Chairman & Managing Director

Container Corporation of India Ltd (CONCOR), a Navratna company of Ministry of Railways, Total Income 59,443.2
Government of India, was established in Mar 1988. CONCORs operations commenced
from Nov 1989. Over 26 years, the company has grown to be a major multimodal logistics Net Profit 10,475.5
solution provider company, providing inland handling and transportation of containers Networth 75,939.5
predominantly by rail. It operates through two segments namely, EXIM and domestic EBIDTA 16,671.4
which is engaged in handling, transportation and warehousing activities. The company
Ratios (%)
has also made forays into management of ports, air cargo complexes and cold chains.
Effectively, now CONCOR represents a conglomerate of 14 companies including four EBIDTA Margin 28.1
subsidiaries and 10 joint venture companies. NPM 17.6
RONW 13.8
In July 2014, Ministry of Heavy Industries and Public Enterprises, Department of Public
(As on Mar 31, 2015)
Enterprises, GoI has accorded CONCOR with the Navratna status.
Management Details
Business Verticals Chairman & Managing Director
CONCORs primary business is characterized by three key activities namely carrier, Anil Kumar Gupta
terminal operator and CFS operator as described below: Directors
Yash Vardhan
Carrier: With rail as the main carrier for haulage, majority terminals of CONCOR Dr. P. Alli Rani
are rail-linked and majority of the companys inland transport is carried on through Arvind Bhatnagar
the Indian Railway network. Rail is price competitive over longer distances, thereby V. Kalyana Rama
facilitating the company to pass on the price advantage to clients. Some of CONCOR S. K. Sharma
terminals are exclusively road fed and these services are commonly provided Kamlesh Shivji Vikamsey
in the form of supplementary service for providing door to door linkages having Maj. Gen. (Retd.) Raj Krishan Malhotra
Sanjeev S. Shah
carried the bulk of long lead by rail.
Terminal Operator: CONCORs terminals provide facilities ranging from warehousing,
container parking, and repair facilities to office complexes. The company aims to
provide all port facilities including customs clearance to the customers doorstep
and has its customs bonded ICDs serve as dry ports in the hinterland.
Warehouse Operator: As a CFS operator, CONCOR offers value added services
such as transit warehousing for import & export cargo, bonded warehousing that
enables importers to store cargo and take partial deliveries thereby deferring duty
payment. Less than container load (LCL) consolidation services, reworking of LCL
cargo at nominated hubs and air cargo clearance using bonded trucking are also Address & Website
offered by the company. C-3, CONCOR Bhawan
Hub and Spoke Services: These operations were initiated to lead point to point Mathura Road
Opp. Apollo Hospital
train services by linking roads or short lead rail shuttle services within defined
New Delhi - 110076
catchment areas. The hub and spoke services ensure that the transportation Delhi
becomes seamless and door to door whereby the product is distributed over
Website
various locations after being picked up from a single center. www.concorindia.com
Terminal & Container Network

As on Mar 31, 2015, CONCOR had a network of 63 terminals including 13 pure EXIM
terminals, 15 pure domestic terminals, and 35 combined (EXIM plus Domestic) container
terminals. During the same period, the company acquired 765 BLC and 235 BVZI brake
van wagons, increasing the holding of high speed wagons to 11,754. Subsequently, the
total wagon holding stood at 13,111 as on Mar 2015 as compared to 12,111 as on Mar
2014. As on Mar 31, 2015, the company had 20,247 (owned plus leased) containers. It
also owns 52 reach stackers and 17 gantry cranes.

During FY15, the company increased its handling at EXIM Terminals by 11% to 2.62 mn TEUs from 2.36 mn TEUs in FY14. The business
volumes in terms of total TEUs handled by the company during FY14 stood at 2.87 mn registering an increase of 10.9% over previous
year. The tonnage carried by CONCOR registered a y-o-y growth of 14.3% as it carried nearly 30 mn Tonnes in FY15 compared to 25.7
mn Tonnes of cargo in FY14.
Standardisation/Certifications
As on Mar 2015, CONCOR successfully obtained recertification under ISO 9001:2008 Quality Standards for 16 terminals.
As on Mar 31, 2014, 58 terminals including; eight regional offices and Corporate office were ISO 9001:2008 certified.
Subsidiaries
As on Mar 31, 2015, CONCOR had two wholly owned subsidiaries namely, Fresh And Healthy Enterprises Ltd and CONCOR Air Ltd. The
company also had two partly owned subsidiaries namely, SIDCUL CONCOR Infra Company Ltd and Punjab Logistics Infrastructure Ltd.
Recent Developments
In FY15, CONCOR crossed the three mn TEUs, registering an increase of 8.44% over previous year.
In Dec 2015, CONCOR announced plans to set up two new Multi Modal Logistics Parks (MMLPs) at Tehi in MP and Barhi in
Haryana with the project costs of approximately ` 174 crores and ` 346 crores.
CSR Initiatives
CONCOR undertakes major projects in the areas of education, health, skill development & environment sustainability. Some of the
initiatives undertaken include:
Construction of classrooms for cyclone hit areas in the district of Ganjam, Odisha.
Energy conservation projects Providing farmers with rain water harvesting tanks etc.
Provide lighting solar lights, mobile charger facility, solar lalterns to 3600 families to the under privileged section of societies in
association with Central Electronics Limited, Government of India.
Education to girl child.
Under Swachh Bharat Abhiyan, the company has contributed an amount of 3.5 crore to Swachh Bhart Kosh set up by Govt. of
India towards construction of toilets in schools.
The company also has MOU with National Backward Classes Finance Development Corporation who will provide training to
youths in the field of Apparel Production Supervision and Quality Control (APSQC), Garment Construction Techniques (GCT),
Industrial Sewing Machine Operation (ISMOB&A)
Loading Facility at Tughlakabad

Blue Dart Express Limited
About the Company
Blue Dart Express Ltd (Blue Dart) was established in 1983 as Blue Dart Courier Services. Subsequently, Top 500 Ranking
it tied up with Gelco Express International, UK and introduced Indias first international air package Income 288
express service. It is primarily engaged in the business of integrated air and ground transportation
and distribution of time sensitive packages within India. In FY15, the company added 51 new and Net Profit 269
additional facilities and 9 replacement facilities, thereby taking the total number of facilities to 477. Networth 476
In FY15, the company added hubs at various locations viz; Ovali, Samalkha, Mangalore, Trivandrum,
Madurai, Salem, Banmoli etc. During FY 15, the company launched a new product, Critical Express, Address
a service which caters to huge domestic need for safe movement of items such passports, tenders Sahar Airport Road,
and other securitized items. Also, during 2015, Blue Dart commenced operations at its eFulfillment Andheri (East),
centre in Delhi NCR specifically for the e-commerce industry. In FY 15, with a fleet of 5 Boeing 757 Mumbai - 400099, Maharashtra
freighters, the company offered a payload of over 385 tonnes per night and a strong network of Website: www.bluedart.com
8,185 vehicles meet delivery schedules.

22,929.8 1,268.4 2,314.3 2,483.1 10.8 5.5 54.8
(As on Mar 31, 2015)
Transport Corporation of India Limited

About the Company
Transport Corporation of India Ltd (TCIL), a TCI Group company, was incorporated in 1958. TCIL is Top 500 Ranking
engaged in providing integrated supply chain and logistics solutions. It operates in six divisions Income 294
viz. freight, XPS, supply chain solutions, seaways, global and energy division. The freight division
offers total multimodal transportation solutions ranging from full truck load, less than truck load, Net Profit 333
small and over dimentional cargo through road & rail. TCILs XPS is an express distribution service Networth 382
at both domestic and international level. The supply chain solution division offers logistic solutions,
warehousing, planning and management skills. The seaways division caters to the coastal cargo Address
requirements for transportation container & bulk cargo and global business division of TCIL provides Flat No. 306 & 307,
logistics and supply chain solutions across boundaries by holdings licenses at different ports for 1-8-271 to 273 & 301,
custom clearance and tie-ups with agents in over 150 countries worldwide. The company operates Ashoka Bhoopal Chambers, SP Road,
with a fleet of four cargo ships and warehouse space of 10.5 mn sq ft. In FY15 freight division Secunderabad - 500003, AP
accounted for over 36% of total revenue followed by XPS division which contributed 30% of total Website: www.tcil.com
revenue.

22,091.3 761.1 5,593.7 1,825.6 8.3 3.4 13.6
(As on Mar 31, 2015)
Allcargo Logistics Limited

About the Company
Allcargo Logistics Ltd (Allcargo), a part of the Avvashya Group, is an integrated logistics multinational Top 500 Ranking
company providing integrated logistics solutions worldwide. The company provides specialized Income 442
logistics services across multimodal transport operations (MTO), container freight station
operations (CFS), inland container depots (ICD), project & engineering solutions (P&E), ship owning Net Profit 302
& chartering and 3PL & warehousing services. MTO segment includes NVOCC operations related to Networth 265
LCL (Less than container load) consolidation and FCL (Full container load) forwarding activities. CFS/
ICD operations comprise of import / export cargo stuffing, de-stuffing, customs clearance and other Address
services to importers and exporters. P&E segment offers integrated end-to-end project, engineering 6th Floor, Avashya House,
and logistic services through a diverse fleet of owned / rented special equipments as well as project CST Road, Kalina,
engineering solutions across different sectors. Allcargo operates across over 90 countries through Santacruz (E),
200 plus offices globally. Allcargo has a fleet of 143 cranes, 584 trailers, 36 reach stackers and 21 Mumbai 400098, Maharashtra
forklifts. As on Mar 31 2015, the companys MTO segment and CFS/ICD segment clocked total Website: www.allcargologistics.com
volumes of 422,200 TEUs and 291,579 TEUs respectively.

11,792.1 974.9 12,766.2 2,742.0 23.3 8.3 7.6
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Tyres
Tyres
Comparative Matrix

Company Name
1 MRF Limited^^ 136,889.2 15,636.7 60,797.7 11.4 25.7
2 Apollo Tyres Limited 89,753.6 6,450.8 32,570.6 7.2 19.8
3 JK Tyre & Industries Limited 61,399.8 2,542.4 10,914.8 4.1 23.3
4 CEAT Limited 56,202.9 3,051.0 15,391.0 5.4 19.8
5 Balkrishna Industries Limited 40,597.0 4,888.1 22,903.8 12.0 21.3
6 TVS Srichakra Limited 18,997.1 1,037.9 2,733.1 5.5 38.0
7 Goodyear India Limited 16,109.9 1,012.4 4,941.0 6.3 20.5

MRF Limited
About the Company
MRF Ltd (MRF) was incorporated in 1946 as a small toy ballon unit in Chennai, TN. In 1952, MRF Top 500 Ranking
ventured into tread rubber manufacturing and later in 1961 it ventured in to manufacturing of Income 63
tyres in technical collaboration with Tire & Rubber Company, USA. MRF is primarily engaged in
manufacturing of rubber products like tyres, tubes, flaps, tread rubber and conveyor belt. The Net Profit 56
company also deals in sports good and other related products. MRF operates customer care service Networth 102
centres in the name of FAAST in Pune, Indore, Nagpur, Jaipur and Delhi. The company operates six
independent facilities with 3,000 dealer networks and has overseas presence across 65 countries. Address
In FY15, MRF launched NV range of premium tubeless tyres consisting of tarmac, on and off-road No. 114,
tyres from the Zapper and Mogrip series. The company also launched Aero Muscle, tyre approved Greams Road,
by CEMILAC and Z Sport, a special tread design tyre. During the year, MRF incorporated a wholly Chennai - 600006, TN
owned subsidiary named MRF Singapore Pte Ltd in Singapore. Website: www.mrftyres.com

136,889.2 15,636.7 60,797.7 30,012.7 21.9 11.4 25.7
Annual unaudited financials for the period ending 30 Sep 2015 are considered. The company has changed its year ending from 30th Sep 2014 to 31st Mar 2016. (As on Sep 30, 2015)
Apollo Tyres Limited

About the Company
Apollo Tyres Ltd (Apollo Tyres) was incorporated in 1972. The corporate headquarters is located at Top 500 Ranking
Gurgaon, India. Apollo Tyres operates manufacturing units across Chennai, Limda, Perambra and Income 103
Kalamassery in India and Enschede in the Netherlands. The company caters to diversified market and
exports to more than 100 countries. The company product portfolio is spread across passenger car, Net Profit 102
light truck, truck-bus, off highway and bicycle tyres, retreading material and retreaded tyres. Apollo Networth 143
Tyres owns renowned brands under its portfolio Apollo, Kaizen, Maloya, Regal and Vredestein.
Apollo and Vredestein cater to tyres across categories from passenger and commercial vehicles Address
to off highway tyres. Regal and Kaizen focus on the truck-bus tyre segment while Maloya continues Cherupushpam Building,
to operate within the passenger vehicle tyre category. In FY15, the company made investments 6th Floor,
for its new plant in Chennai and a new greenfield facility in Hungary. During the same period, it Shanmugham Road,
launched the ALT 188 TX tyre with traction tread design along with its Apollo and Manchester co- Kochi - 682031, Kerala
branded tyres in Thailand. It also launched a new cross-ply technology based tyre, AWR-HD for the Website: www.apollotyres.com
Indonesian market.

89,753.6 6,450.8 32,570.6 13,513.1 15.1 7.2 19.8
(As on Mar 31, 2015)
JK Tyre & Industries Limited

About the Company
JK Tyre & Industries Ltd (JK Tyre), a flagship company of JK Organisation, commenced operations Top 500 Ranking
in 1977. The company is one of the leading four-wheeler tyre manufacturers in the country with Income 135
a wide range of products catering to diverse business segments in the four wheeler automobile
industry. It has presence in Truck Bus Bias/Radial, LCV Bias/Radial, Passenger Radials, Tractor & Net Profit 198
Off the-Road tyre (OTR) segments. The company manufactures and markets its products under its Networth 288
umbrella brand, JK Tyre and its brand portfolio includes Vikrant and Tornel. Its PAN India network
comprises of 143 locations, 4,000 dealers, 116 JK Tyre Steel Wheel retail outlets, 17 JK Tyre Truck Address
Wheels retail outlets and 17 JK Tyre Care Centres. The company operates manufacturing plants Jaykaygram,
across Mysore, Banmore, Kankroli and Chennai along with three plants in Mexico. In FY15, these PO Tyre Factory,
manufacturing facilities had a capacity of 20.72 mn tyres p.a. During the same period, it launched Kankroli 313 342, Rajasthan
63 new products, including nine passenger car radial products, two truck/bus radial products and Website: www.jktyre.com
various products in the farm, LCV and SCV categories.

61,399.8 2,542.4 10,914.8 7,547.3 12.3 4.1 23.3
(As on Mar 31, 2015)

CEAT Limited
About the Company
CEAT Ltd (CEAT) was incorporated in 1958. CEAT is a flagship company of the RPG enterprise. The Top 500 Ranking
company is one of the leading manufacturers of automotive tyres, tubes and flaps, in India. CEAT Income 145
sells a large range of tyres directly to consumers as replacements and through original equipment
manufacturers (OEMs) in India and abroad. The company also has a wide range of product portfolio Net Profit 183
which includes tyres for truck and buses, two-wheelers, light commercial vehicles, passenger Networth 227
cars and farm equipment and other specialty vehicle markets. CEAT manages well equipped and
modernised three manufacturing units; Bhandup and Nasik in Maharashtra and Halol in Gujarat. Address
The total manufacturing capacity of these plants is nearly 595 MT/day. The company also has a 463, Dr Annie Besant Road,
pan-India network of 3,500 dealers, 33 regional offices and more than 100 C&F agents. CEAT has Worli,
customer base across more than 100 countries including; Middle East to the Far East 1 (Indonesia Mumbai - 400030, Maharashtra
and Singapore) & Far East 2 (SE Asia and Pacific), from West to East Africa, from Europe to South Website: www.ceattyres.in
and North America.

56,202.9 3,051.0 15,391.0 6,382.5 11.4 5.4 19.8
(As on Mar 31, 2015)
Balkrishna Industries Limited

About the Company
Balkrishna Industries Ltd (Balkrishna Industries) was incorporated in the year 1987. Balkrishna Top 500 Ranking
Industries primarily manufactures tyres including tubes and flaps. The company focus on Income 193
manufacturing of wide range of off-highway specialty tyres meant for agricultural, industrial,
material handling, construction, earthmoving, forestry, lawn & garden equipments and all terrain Net Profit 127
vehicles. It operates one mould unit in Maharashtra, one calendering unit in Rajasthan and four tyre Networth 182
manufacturing plants located at Maharashtra, Rajasthan and Gujarat. The companys annual installed
capacity for manufacturing of tyres stood at 300,000 MTPA. It also operates a wind farm in Jaisalmer, Address
Rajasthan for captive consumption. The company exports its products to more than 130 countries H-3/1 MIDC,
across Europe, America, Asia Pacific and Middle East. Some of the companys client includes John A Road, Tarapur, Boisar,
Deere, Wirtgen Group, JCB, Ferrari, Terex and Horsch amongst others. In FY15, Balkrishna Industries Thane - 401506, Maharashtra
sold 154,156 MT of tyres. During the year, the companys exports accounted for over 85% of total Website: www.bkt-tires.com
revenue. In FY15, Balkrishna Industries the paper division undertaking, Balkrishna Paper Mills Ltd
along with investment in Balkrishna Synthetics Ltd demerged into Nirvikara Paper Mill Ltd.

40,597.0 4,888.1 22,903.8 10,090.4 24.9 12.0 21.3
(As on Mar 31, 2015)
TVS Srichakra Limited

About the Company
TVS Srichakra Ltd (TVS Srichakra), a part of TVS Auto Ancillary Group, was incorporated in 1982. Top 500 Ranking
The company is primarily engaged in manufacturing for two-wheelers and three wheelers. TVS Income 331
Srichakras product range of tyres includes agro industrial tyres, two & three wheeler tyres,
industrial pneumatic tyres, farm and implement tyres, sand tyres, motor grader tyres, vintage tyres, Net Profit 295
skid steer tyres, multipurpose tyres, floatation tyres and tractor tyres among others. TVS Srichakra Networth 465
has three manufacturing facilities, two located at Madurai, TN and one in Rudrapur, Uttarakhand.
TVS Srichakra exports its products across the globe which mainly includes US, Europe, Africa, South Address
America and Australia. Some of the major clientele of the company includes Atul Auto Ltd, Bajaj TVS Building 7-B,
Auto, Hero MotoCorp Ltd, Honda Motors Cycles & Scooters India and TVS Motor Company Ltd West Veli Street,
among others. In FY15, TVS Srichakra commenced commercial sale of Tractor Radiial tyres. During Madurai - 625001, TN
the year the company introduced eleven new products and entered new markets for the sale of Website: www.tvstyres.com
off- highway tyres.

18,997.1 1,037.9 2,733.1 2,111.6 11.1 5.5 38.0
(As on Mar 31, 2015)

Goodyear India Limited
About the Company
Goodyear India Ltd (Goodyear) was established in 1922 as a private company and got converted Top 500 Ranking
into public company in 1961. The company is a step-down subsidiary of US-based Goodyear Tire & Income 362
Rubber Company. Goodyear is primarily engaged in manufacturing and trading of automotive tyres,
tubes and flaps. The company manufactures automotive bias tyres viz. farm tyres and commercial Net Profit 300
truck tyres at its Ballabgarh plant and also trades in Goodyear branded tyres including radial Networth 398
passenger and off the road bias tyres manufactured by Goodyear South Asia Tyres Pvt Ltd,
Aurangabad. Other products manufactured and sold by the company include tubes, flaps and Address
radial OTR imported tyres. Some of the tyres manufactured by Goodyear include Goodyear Eagle Mathura Road,
F1 Directional 5, Goodyear Assurance TripleMax, Goodyear GT3, Goodyear Duraplus, Goodyear Ballabgarh,
Ducaro HI-Miler and Goodyear Wrangler HP AW amongst others. Goodyear export its products to Faridabad - 121004, Haryana
countries like Australia, Nepal, Singapore, UAE, Mexico, New Zealand, Egypt, Germany, Japan, Kenya Website: www.goodyear.co.in
and Vietnam amongst others. During the year ended Dec 31, 2014, Goodyear introduced Wrangler
ATSA tyres in the SUV segment.

16,109.9 1,012.4 4,941.0 1,853.6 11.5 6.3 20.5
(As on Dec 31, 2014)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

W ood & W ood P roducts
Wood & Wood Products
Comparative Matrix

Company Name
1 Century Plyboards (India) Limited 15,829.0 1,508.2 3,846.5 9.5 39.2
2 Greenply Industries Limited 15,652.9 1,060.0 4,810.0 6.8 22.0

Century Plyboards (India) Limited
About the Company
Century Plyboards (India) Ltd (CPIL) was incorporated in 1986. CPIL offers a range of interior Top 500 Ranking
infrastructure products like plywood, laminates, veneers, face veneers, MDF, block boards and doors, Income 364
among others. Some of the major brands of the company include CenturyVeneers, CenturyLaminates,
CenturyPrelam, Nesta, Exteria, Starke, Zykron, CenturyMDF, CenturyFaceVeneers, CenuryPly Teak Net Profit 243
and CenturyDoors amongst others. CPIL operates manufacturing units with cumulative capacity of Networth 425
0.21 MCM of plywood and 4.8 mn sheets of laminates. CPIL also provides container freight station
services from its two locations near the Kolkata port with a cumulative capacity of 156,000 TEUs. Address
The company export its products to over 20 countries such as China, Bahrain, UAE, Canada, Mexico, 6, Lyons Range,
US, Germany, France, Singapore, Hong Kong and Taiwan amongst others. In FY15, CPIL sold 0.19 Kolkata - 700001, WB
MCM of plywood registering a growth of 12% y-o-y. During the year, the company incorporated a Website: www.centuryply.com
wholly owned subsidiary in the name of Century Ply (Singapore) Pte Ltd in Singapore to undertake
trading in timber, plywood & all wood products & materials and leasing of machineries & equipment
& providing related services.

15,829.0 1,508.2 3,846.5 2,550.1 16.1 9.5 39.2
(As on Mar 31, 2015)
Greenply Industries Limited

About the Company
Greenply Industries Ltd (Greenply) was incorporated in the year 1990 as Mittal Laminates Pvt Ltd. Top 500 Ranking
Eventually, in 1994, it acquired its present name and came out with an IPO in 1995. The companys Income 369
business segments include plywood and allied products and medium density fiberboards (MDF)
accounting for nearly 74% and 26% of the total revenue respectively. As on Mar 31, 2015, the Net Profit 292
company had presence in over 300 cities across 21 states, serviced through distribution network of Networth 402
1,550 distributors, and 10,000 retailers, and 45 branches pan-India. In FY15, the company demerged
its decorative business comprising laminates and allied products into Greenlam Industries Ltd. Address
In FY15, the company expanded its MDFs product range through the introduction of new value- Makum Road,
added products like laminated flooring solutions under the brand Green Floormax. The company Tinsukia - 786125, Assam
also diversified into the economical MDF segment by launching Ecolite and Ultralite. In Oct 2015, Website: www.greenply.com
the company commenced commercial production of UV coated panel at its manufacturing unit at
Pantnagar, Uttarakhand.

15,652.9 1,060.0 4,810.0 2,209.2 14.1 6.8 22.0
(As on Mar 31, 2015)

Top 500 Ranking
Income
Net Profit
Networth
Address

(As on Mar 31, 2015)

Ot h e r s
Others
Comparative Matrix

Company Name
1 Redington (India) Limited 120,703.8 1,819.6 13,599.5 1.5 13.4
2 Adani Ports and Special Economic Zone Limited 46,475.2 21,831.4 110,819.0 47.0 19.7
3 Apollo Hospitals Enterprise Limited 46,380.6 3,612.9 31,473.8 7.8 11.5
4 Himachal Futuristic Communications Limited 25,711.3 1,899.1 10,096.5 7.4 18.8
5 Phillips Carbon Black Limited 24,846.1 126.4 5,096.4 0.5 2.5
6 Compuage Infocom Limited 21,388.7 116.9 802.3 0.5 14.6
7 Jubilant FoodWorks Limited 20,818.8 1,232.8 6,485.5 5.9 19.0
8 3M India Limited 18,547.8 1,083.4 8,032.1 5.8 13.5
9 Everest Industries Limited 12,409.5 342.1 3,126.5 2.8 10.9
10 Carborundum Universal Limited 11,996.5 614.3 8,499.0 5.1 7.2
11 Kaveri Seed Company Limited 11,311.7 3,021.7 7,581.9 26.7 39.9
12 Grindwell Norton Limited 11,304.1 1,010.2 6,102.9 8.9 16.6
13 VIP Industries Limited 10,502.9 435.4 3,058.8 4.1 14.2
14 Solar Industries India Limited 10,345.9 1,179.2 5,236.1 11.4 22.5
15 Visaka Industries Limited 10,235.5 212.4 3,314.2 2.1 6.4
16 The Indian Hume Pipe Company Limited 10,194.2 384.5 2,864.4 3.8 13.4
17 Navneet Education Limited 9,619.4 1,293.0 5,550.1 13.4 23.3

Redington (India) Limited
About the Company
Line of Business: The company is mainly involved in distribution of information technology products, Top 500 Ranking
supply chain solutions, after sales service of their products, and financial services. Income 72
Redington (India) Ltd (Redington) commenced its Indian operations in the year 1993 with the Net Profit 229
distribution of Hewlett Packard IT products. In 1997, the company tied-up with Microsoft for
Networth 248
distribution of software products. The company went public in 2007. The company is mainly involved
in distribution of information technology products, supply chain solutions, after sales service of Address
their products, and financial services. The companys distribution network includes; 30,676 channel
partners, 56 sales offices, 91 warehouses, 71 owned service centers and 241 partner service centers. SPL Guindy House,
Redington has presence in India, Sri Lanka, Bangladesh, Middle East, Turkey, East Africa and the CIS 95, Mount Road,
countries. In Aug 2015, Redington was appointed by Xiaomi, for distribution of their smartphones in Guindy,
a number of cities across India. In Apr 2016, the company merged Nook Micro Distribution Limited Chennai - 600032, TN
with itself. Website: www.redingtonindia.com

120,703.8 1,819.6 13,599.5 3,440.6 2.9 1.5 13.4
(As on Mar 31, 2015)
Adani Ports and Special Economic Zone Limited

About the Company
Line of Business: The company is primarily engaged in developing, operating and maintaining the Top 500 Ranking
port and its related infrastructure services. Income 172
Adani Ports and Special Economic Zone Ltd (APSEZL) was incorporated in 1998 as Gujarat Adani Net Profit 41
Port Ltd. In 2006, the companys name changed to Mundra Port and Special Economic Zone Ltd and
Networth 68
further in Jan 2012, the company acquired its present name. APSEZL develops and operates ports
and related infrastructure. APSEZL also provides port services including marine, handing intra-port Address
transport, storage, other value-added and evacuation services for terminal operators, shipping lines
& agents, exporters, importers and other port users. The company operates 14 terminals having 37 Mithakhali Six Roads,
berths to handle dry, liquid and container cargo and two single point mooring facilities to handle Navrangpura,
crude cargo at the ports of Mundra, Dahej, Hazira, Vizhinjam and Dhamra. In Jul 2015, APSEZL Ahmedabad - 380009,
received a contract for development of Vizhinjam International Deepwater Seaport Project from Gujarat
Govt of Kerala. Website: www.adaniports.com

46,475.2 21,831.4 110,819.0 33,821.5 72.8 47.0 19.7
(As on Mar 31, 2015)
Apollo Hospitals Enterprise Limited

About the Company
Line of Business: The company is a healthcare services provider operating a chain of hospitals. Top 500 Ranking
Income 174
Apollo Hospitals Enterprise Ltd (Apollo Hospitals), a healthcare services provider operating with
a chain of hospitals was incorporated in the year 1979. In 1983, it launched its first hospital in Net Profit 161
Chennai. The company operates in the healthcare domain under key segments including; hospitals,
Networth 149
clinics, day-care centres, pharmacies, and insurance. Its specialised chain of hospitals caters to
areas of cardiology, orthopaedics, neurology, radiology, transplants, oncology and critical care. Address
Apollo Hospitals operates 64 hospitals with total bed capacity of 9,215 beds, 2,100 pharmacies, 90
primary care & diagnostic clinics and over 80 Apollo Munich insurance branches across the country. No.19, Bishop Garden,
It also operates over 150 telemedicine units across 17 countries and 15 academic institutions and a Raja Annamalaipuram,
research foundation to carry out global clinical trials, epidemiological studies, stem-cell and genetic Chennai 600028, TN
research. In Sep 2014, the company collaborated with Sanofi to provide an integrated diabetes care Website: www.apollohospitals.com
programs in India along with a focus on establishment of 50 Apollo Sugar Clinic.

46,380.6 3,612.9 31,473.8 6,959.6 15.0 7.8 11.5
(As on Mar 31, 2015)

Top 500 Ranking
Income 262
Himachal Futuristic Net Profit 222
Communications Limited Net Worth 294
Mahendra Nahata, Managing Director

Himachal Futuristic Communications Ltd (HFCL), incorporated in the year 1987, is a Total Income 25,711.3
leading telecom infrastructure developer, system integrator and manufacturer of high-
end telecom equipment and optical fiber cables (OFC). HFCL is a fully integrated telecom Net Profit 1,899.1
solution provider which also provides telecom turnkey services and integrated safe & Networth 10,096.5
smart city solutions. EBIDTA 2,593.4
Ratios (%)
The company has an automated plant at Solan in the state of Himachal Pradesh
for manufacturing high technology products like Optical Transmission Equipment, EBIDTA Margin 10.1
Microwave Radios, GSM Mobile systems, Broadband Wifi and Fiber to the Home (FTTH) NPM 7.4
systems. HFCL is leader in the manufacture of Optic Fiber Cables having manufacturing
RONW 18.8
facilities at Goa and Chennai.
(As on Mar 31, 2015)
The company has a joint venture with Canadas Dragon Wave Inc. for Packet Microwave Management Details
Radio Systems and with Polixel Sp.z.o.o., Poland for security, safety & surveillance Non-Executive Chairman
solutions. M P Shukla
Managing Director
Products and Solutions Mahendra Nahata
HFCLs business operations primarily include manufacturing of Telecom Equipments & Directors
Optic Fiber Cables and implementation of OFC, telecom and safe & smart city networks Arvind Kharabanda
on turnkey basis. The current products and services include the following: R M Kastia
Rajiv Sharma
Bela Banerjee
Optical Fiber Cables
HFCL manufactures high quality OFC which are designed to suit applications in NLD, Access
& FTT-x Networks and for specialised applications like fire survival cables, tactical cables
etc. It operates OFC manufacturing units in Goa and Chennai (through its subsidiary HTL)
which is equipped with state-of-the-art R&D facilities and latest machines to produce
from single fiber cables to 576 Fiber Cables, customized to suit different client needs.
Some of its OFC variants include; aerial cables, armoured cables, fttx cables, micro cables
and unarmoured cables. The OFC cables manufactured by HFCL are exported to more
than 20 countries worldwide. Address & Website
8, Electronics Complex
Telecom Equipment Chambaghat
Solan 173 213, HP
HFCL focuses on manufacturing products for access networks including Mobile GSM
systems, WiFi equipment, Fiber to the Home (FTTH) systems and end to end packet Website
microwave solutions through its JV DragonWave HFCL India Pvt Ltd. HFCL also offers www.hfcl.com
high capacity carrier class GPON platform enabling fast, reliable, secure and future proof
multi services access network, suitable for high bandwidth applications such as video
conferencing, remote education and tele-medicine among others.
Electronics
HFCL provides a whole range of power solutions for critical applications for telecom
Industry, IT and other vertical markets through one of its associate companies Exicom
Tele-Systems Ltd. Key products include DC power systems from 3KW to 300KW which
serve every kind of telecom requirement from a small cell site to large exchanges.
Exicom also provides hybrid power solutions to harness green energy using hybrid solar
PV, wind, geothermal and fuel cell energy sources.
Telecom Networks
The offering includes FTTx, In-building systems, OFC and Optical transmission. HFCL offers
end-to-end solutions deployed in Radio & Optic Fiber Transmission networks, Wireless
and Broadband Access networks. The companys FTTx solutions cover entire life-cycle of

the network, catering to telecom operators, ISPs, real-estate businesses, public and private sector enterprises (Educational, Hospitality
and other commercial establishments) that seek to deploy Fiber access for their customers/users.
Safe and Smart City Solutions

Working closely with top global OEMs, HFCL offers cutting edge, customized solutions in the emerging landscape of Safe and Smart
cities in India. Its offerings include key core solutions like Communication and Telecom infrastructure, Data Centre, Disaster Recovery
and Management, Security, Surveillance, Traffic Management and Mobile Applications.
Railways Telecom Networks Solution

HFCL caters to the Indian Railways by offering an expanded portfolio of services comprising of Network Design, Equipment supply,
Installation & Commissioning (I&C), Network Integration and post deployment Warranty & AMC support for Metro Lines, Mainline
Railway as well as upcoming Dedicated Railway Freight Corridors in India.
Key Updates & Performance Highlights
HFCL introduced 2 new technologies GSM & WiFi and manufactured over 1500 GSM BTS in its Solan factory. The company also
expended its OFC manufacturing capacity by setting up a new factory at HFCLs subsidiary HTL Ltd. Chennai
FY 15 HFCL diversified operations in defence sector and became successful bidder in two major tenders for defence telecom
network and expecting orders valued over ` 40 bn in FY 16.
During FY15, the company implemented two major OFC networks for defence and 4G operator and bagged large orders in its
turnkey segment, taking its order book to ` 30 bn.
Implemented greenfield GSM mobile network by installing over 400 GSM sites. Also completed expansion of DWDM optical
transport network for Railtel.
Offered turnkey solution of integrated telecom network for railways greenfield freight corridor line with potential to sign
contracts over ` 2bn during FY 16
In Mar 2016, HFCL secured several licenses in preparation for manufacturing products for the defence sector. These include
electronic fuses, electro optical devices, communication equipments and several others along with permits for assembling
electronic warfare systems, radars and the design, development and manufacturing of aircrafts including helicopters.
The company has set up separate focused group to address large business opportunities in Bharatnet, smart city & safe city.
Himachal Futuristic Communications Ltds manufacturing facilities in Solan and Goa

Phillips Carbon Black Limited
About the Company
Line of Business: The company is engaged in manufacturing of carbon black and also operates in Top 500 Ranking
power generation. Income 272
Phillips Carbon Black Ltd (PCBL), a RP Sanjiv Goenka group company, was incorporated in 1960 in Net Profit 447
collaboration with Phillips Petroleum Company, US. In 1962, PCBL commenced its production with
Networth 396
the manufacturing process of carbon black at Durgapur, WB. PCBL is engaged in the manufacturing
of carbon black and generation of power. The companys plants are located at Durgapur (WB), Address
Mundra (Gujarat), Palej (Gujarat) and Kochi (Kerala) with a manufacturing capacity of 472,000
MTPA of carbon black and power generation capacity of 76 MW. In FY15, the production of carbon Duncan House,
black was 311,823 MT as compared to 288,676 MT in FY14. PCBLs products are mainly used in 3rd Floor,
rubber, plastics, coatings, inks and other niche industries. The company exports to more than 30 31, Netaji Subhas Road,
countries across the globe. CEAT, MRF, Michellin, Yokohama, Birla Tyres, Goodyear, Sumitomo Tires, Kolkata - 700001, WB
Bridgestone, Kumho Tires, among others are few clients of the company. Website: www.pcblltd.com

24,846.1 126.4 5,096.4 1,636.5 6.6 0.5 2.5
(As on Mar 31, 2015)
Compuage Infocom Limited

About the Company
Line of Business: The company is in the business of distribution and trading of computer parts and Top 500 Ranking
peripherals and telecom products in India. Income 302
Compuage Infocom Ltd (Compuage) is an IT distribution company headquartered in Mumbai. The Net Profit 451
company is engaged in trading in computer parts and peripherals and telecom products. The company
Networth 500
also provides products support services for Information technology products. Compuage acts as
a vital link between the manufacturers of technology products and the resellers. The companys Address
customers include resellers, corporate resellers, Retailers and direct marketing companies.
Compuage operates through 44 offices, 48 warehouses and 50 service centers. Compuage has global Lotus Corporate Park, Graham Firth,
alliances with various IT companies which helps company to introduce technology innovations Steel Compound,
and wide array of global IT products in the Indian market. Some of the companys global partners Western Express Highway,
and customers include Adata, Creative, Check Point Software Technologies Ltd, Asus, Cisco, HP, Goregaon (E), Mumbai - 400063, Maharashtra
Microsoft, Kingston Technology, Toshiba, Samsung, SAP and Edifier amongst others. Website: www.compuageindia.com

21,388.7 116.9 802.3 547.3 2.6 0.5 14.6
(As on Mar 31, 2015)
Jubilant FoodWorks Limited

About the Company
Line of Business: The company is a food services provider and operates two brands: Dominos Pizza Top 500 Ranking
and Dunkin Donuts. Income 306
Jubilant FoodWorks Ltd (JFL), a Jubilant Bhartia Group company was incorporated in 1995. The Net Profit 272
company has master franchisee agreement with Dominos Pizza USA to develop and operates
Networth 361
Dominos Pizza restaurants in India, Sri Lanka, Bangladesh and Nepal. JFL also has exclusive rights
from Dunkin Donuts USA for operating its restraints in India. In FY15, the company opened 150 Address
Dominos Pizza restraints in India taking the total no. of restraints to 876 across 196 cities in 25 states
and four UTs as on Mar 31 2015. As on Mar 31 2015, JFL operated 54 Dunkin Donuts restraunts in B- 214, Phase - II,
India. In FY15, the company entered into partnership with IRCTC to provide Dominos Pizza to IRCTC District Gautam Budh Nagar,
passengers on board. In Dec 2015, JFL under the Domino Pizza India (DPI) brand introduced variety Noida - 201305, UP
of new products such as custard bliss dessert, double cheeses crunch pizza and cheese burst pizza Website: www.jubilantfoodworks.com
in regular size.

20,818.8 1,232.8 6,485.5 2,702.1 13.0 5.9 19.0
(As on Mar 31, 2015)

3M India Limited
About the Company
Line of Business: The company is diversified into various segments like consumer, industrial, health Top 500 Ranking
care, safety and graphics and Energy. Income 336
3M India Ltd (3M India), a subsidiary of 3M Company, USA was incorporated in 1987. 3M India Net Profit 290
operates in five business segments viz. Industrial, health care, consumer, energy and safety &
Networth 329
graphics. Under industrial segment 3M India caters to automotive original equipment manufacturer,
and automotive aftermarket, electronics, appliances, etc. Health care business serves to large Address
multi-specialty hospitals and small clinics, dental and orthodontic practitioners and pharmaceutical
companies. The safety and graphics business caters to increase the safety, security and productivity Plot Nos. 48-51,
of people while the consumer segment manages consumer retail, modern trade, office retail, and Electronics City,
pharmacy channel. Energy business caters to effective protection against corrosion. In FY15, the Hosur Road,
companys industrial business grew by 6.69%; health care business grew by 16.69%; safety and Bengaluru - 560100, Karnataka
graphics business grew by 8.13% and consumer business grew by 8.26%. Website: www.solutions.3mindia.co.in

18,547.8 1,083.4 8,032.1 2,175.9 11.7 5.8 13.5
(As on Mar 31, 2015)
Everest Industries Limited

About the Company
Line of Business: The company is a building solutions provider which operates in two segments: Top 500 Ranking
building products (roofing, boards and panels) and steel buildings. Income 432
Everest Industries Ltd (Everest Industries) was incorporated in the year 1934. It is mainly engaged Net Profit 399
in the manufacturing and trading of building products which includes roofing products, boards and
Networth 451
panels, other building products and accessories. It is also involved manufacture and erection of
pre engineered and smart steel buildings and its accessories. Everest Industries has six production Address
facilities for building products located at Kymore, Podanur, Kolkata, Lakhmapur, Bhagwanpur, and
Somnathpur with a cumulative installed capacity of 810,000 MTPA and 3 steel building manufacturing Gate No 152,
facilities located at Bhagwanpur, Dahej and Ranchi with a cumulative installed capacity of 72,000 Lakhmpur, Taluka Dindori,
MTPA. The company has a wide distribution network of 40 sales depot and 6,000 dealers spread Nashik - 422202, Maharashtra
across 600 cities and 100,000 villages. Till Mar 31, 2016, the company executed 1,600 projects. Website: www.everestind.com
During FY16, it executed projects for Goa Shipyard, HCL IT City, Tata Power and so on.

12,409.5 342.1 3,126.5 893.0 7.2 2.8 10.9
(As on Mar 31, 2015)
Carborundum Universal Limited

About the Company
Line of Business: The company is in the business of manufacturing of abrasives, ceramics, super Top 500 Ranking
refractories and electro minerals. Income 439
Carborundum Universal Ltd (CUMI), a Murugappa group company, was incorporated in 1954, as Net Profit 355
a joint venture between Carborundum Company, US and Universal Grinding Wheel Company, UK
Networth 321
along with Murugappa group. CUMI operates in abrasives, ceramics, electrominerals, IT services
and Power segments. Under abrasives, the company manufactures bonded abrasives, coated Address
abrasives (including non-wovens), super abrasives, metal working fluids and power tools. Under
Ceramics, CUMI mainly deals in industrial ceramics, super refractories and anticorrosives. Under Parry House,
electrominerals, the company manufactures fused alumina (comprising brown and white alumina), 43 Moore Street,
silicon carbide, fuse zirconia, alumina zirconia and zircon mullite. The company operates through 15 Chennai - 600001, TN
manufacturing units located in TN, WB, Kerala, Uttarakhand, Gujarat and MP. The company exports Website: www.cumi.murugappa.com
its products to 50 countries.

11,996.5 614.3 8,499.0 2,665.0 22.2 5.1 7.2
(As on Mar 31, 2015)

Kaveri Seed Company Limited
About the Company
Line of Business: The company is engaged in the production and distribution of high quality hybrid Top 500 Ranking
seeds. It also produces micronutrient mixtures, organic products and bio-pesticides under its Income 450
Microtek division.
Net Profit 184
Kaveri Seed Company Ltd (Kaveri Seed) was incorporated in the year 1986. It is engaged in the
Networth 344
production and distribution of hybrid seeds. The portfolio of seeds produced by Kaveri Seeds include
cotton, corn, paddy, okra, chilly, watermelon, tomato and gourds amongst others. Some of the Address
brands under which it markets its seeds include Jadoo, Jackpot, ATM, Sleek, Sunkranti, Champ, Super
Boss, Fouzi, Captain, Fatafat, Chintu, Sampurna, Kaveri Leena, Fire and Mazik amongst others. It has 513-B, 5th Floor,
a strong distribution network of over 25,000 direct and indirect distributors across the country. In Minerva Complex,
FY15, the company launched three new paddy hybrids namely KPH 199, KPH 371 and KPH 460. In S.D. Road,
FY15, the company transferred its micronutrient business which produces micronutrient mixtures, Secunderabad - 500003, Telangana
organic products and bio-pesticides, to its wholly owned subsidiary, Kaveri Microteck Pvt Ltd. Website: www.kaveriseeds.in

11,311.7 3,021.7 7,581.9 3,217.4 28.4 26.7 39.9
(As on Mar 31, 2015)
Grindwell Norton Limited

About the Company
Line of Business: The company is a manufacturer of abrasives (bonded, coated, non-woven, super Top 500 Ranking
abrasives) and ceramics & plastics (silicon carbide, high performance refractories and performance Income 451
plastics).
Net Profit 301
Grindwell Norton Ltd (GNL) was incorporated in the year 1941. In 1996, the company became a
Networth 368
subsidiary of Compagnie de Saint-Gobain. It operates in two segments viz. abrasives and ceramics
& plastics. Under abrasives segment, it manufactures bonded abrasives, coated abrasives, non Address
woven abrasives, thin wheels and super abrasives amongst others. Under ceramics & plastics, GNL
manufactures silicon carbide, high performance refractories (HPR) and performance plastics (PPL). 5th Level, Leela Business Park,
The product portfolio of the company includes bearings, seals, films, tubing & hoses, high alumina Andheri - Kurla Road,
monolithic, silicon carbide refractories and foams amongst others. GNL operates four abrasives Marol, Andheri (East),
manufacturing facilities located at Mora, Bengaluru, Nagpur and Bated; a silicon carbide plant Mumbai 400059, Maharashtra
located at Tirupati; two HPR plants located at Bengaluru and Halol; one PPL plant at Bengaluru. Website: www.grindwellnorton.com

11,304.1 1,010.2 6,102.9 1,850.4 16.4 8.9 16.6
(As on Mar 31, 2015)
VIP Industries Limited

About the Company
Line of Business: The company is mainly a manufacturer of travel utilities viz luggage, bags & Top 500 Ranking
accessories and also operates in furniture segment. Income 478
VIP Industries Ltd (VIP) is a manufacturer of travel utilities which manufactured first suitcase in Net Profit 378
the year 1971. The company operates in two segments viz furniture and travel utilities including
Networth 455
luggage, bags & accessories. VIP is engaged in manufacturing a wide range of hard and soft luggage
along with a range of moulded furniture including strollys, suitcases, deffel-bags, backpacks, Address
executive cases, overnight travel solutions and school bags amongst others. Some of the brands
under which it markets its products include Carlton, VIP Bags, Skybags, Caprese, Aristocrat and Alfa 78-A,
amongst others. It operates through a wide distribution network of 8,000 retail outlets across the MIDC Estate, Satpur,
country and 1,300 retailers across 27 countries. In FY15, soft luggage sale accounted for over 70% of Nashik 422007, Maharashtra
companys total sales. VIP also has two wholly owned subsidiaries named VIP Industries Bangladesh Website: www.vipindustries.co.in
Pvt Ltd and Blow Plast Retail Ltd.

10,502.9 435.4 3,058.8 827.3 7.9 4.1 14.2
(As on Mar 31, 2015)

Solar Industries India limited
About the Company
Line of Business: The company is in the business of manufacturing, supplying and exporting Top 500 Ranking
explosives and explosive accessories. Income 481
Solar Industries India Limited (SIIL) was established in 1995. The company is Indias largest Net Profit 277
manufacturer of Industrial explosives and Explosive initiating systems and spreading its presence
Networth 394
to Global Markets. SIIL supports major mining & infrastructure companies including the recognized
names like Coal India Limited, Vedanta, Tata, Jindal, SAIL, L&T, Anglo Gold and many more. It has Address
wide range of products such as Bulk Explosives, Cartridge Explosives, Styphnic Acid, HMX and HMX
Compounds, detonators, detonating cord and pentolite booster and Composite Propellants. It is the 11, Zade Layout,
only company in India to have CE certification for all products. SIIL manufactures quality products Bharat Nagar
through 25 manufacturing facilities across 10 states in India, along with 3 overseas units (Zambia, Nagpur - 440002,
Nigeria and turkey). It has formed a joint venture in Nigeria by acquiring majority stake in Nigachem Maharashtra
Nigeria Limited. Website: www.solargroup.com

10,345.9 1,179.2 5,236.1 1,650.2 16.0 11.4 22.5
(As on Mar 31, 2015)
Visaka Industries Limited

About the Company
Line of Business: The company is in the business of manufacturing building products and synthetic Top 500 Ranking
yarns. Income 483
Visaka Industries Ltd (Visaka) was incorporated in the year 1985. The company is primarily engaged Net Profit 426
in manufacturing of synthetic yarn and building products comprising cement asbestos products and
Networth 446
fibre cement flat products. The product portfolio of Visaka include corrugated cement fibre sheets,
apron piece, roof lights, ridge finials, close fitting adjustable ridges, V-board, V-plank, V-panel, north Address
light curve and cotton-touch airjet spun polyester yarn amongst others. The company operates 11
manufacturing facilities with an aggregate annual capacity of 802,000 MT of corrugated cement Velumala Village,
asbestos sheets and 129,750 MT of fibre cement flat board products. Visaka also operates a R C Puram Mandal,
spinning plant with a capacity of producing 9,000 MTPA of yarn. The company export its products Medak - 502300,
to countries like UAE, Qatar, Bahrain, Iran, Iraq, Sri Lanka, Germany, Egypt, Taiwan, Turkey, UK and Andhra Pradesh
Peru amongst others. Website: www.visaka.biz

10,235.5 212.4 3,314.2 973.8 9.5 2.1 6.4
(As on Mar 31, 2015)
The Indian Hume Pipe Company Limited

About the Company
Line of Business: The company is mainly engaged in construction contracts for water supply, sewage Top 500 Ranking
and drainage projects. Income 485
The Indian Hume Pipe Company Ltd (IHP) was established in 1926 for manufacturing and marketing Net Profit 391
of hume pipes and allied products. The company is primarily engaged in manufacturing of pipes
Networth 463
and undertaking turnkey infrastructure projects. The portfolio of pipes manufactured by IHP include
RCC pipes, steel pipes, prestressed concrete pipes, Penstock pipes, bar wrapped steel cylinder pipes Address
and prestressed concrete cylinder pipes. IHP mainly undertakes turnkey projects in the field of
water supply, irrigation, drainage & sewerage, power and rail transport. In Sep 2015, the company Construction House, 2nd Floor,
received two work orders aggregating to ` 12.3 bn for Telangana Water Grid project in respect 5, Walchand Hirachand Road,
of Telangana Drinking Water Supply Projects (TDWSP) of Mahabubnagar and Nizamabad districts Ballard Estate,
from Rural Water Supply and Sanitation Department, Govt of Telangana. In Mar 2016, IHP received Mumbai - 400001, Maharashtra
contract worth ` 1.45 bn from Govt of Rajasthan for water supply project in Alwar, Rajasthan. Website: www.indianhumepipe.com

10,194.2 384.5 2,864.4 1,152.9 11.3 3.8 13.4
(As on Mar 31, 2015)

Navneet Education Limited
About the Company
Line of Business: The company is in the business of publication of knowledge based information and Top 500 Ranking
manufacturing of stationery items. Income 500
Navneet Education Ltd (Navneet), formerly known as Navneet Publications (India) Ltd, was Net Profit 267
incorporated in 1984. The company operates in the publication of knowledge based information
Networth 385
in educational and general books form as well as in electronic media and manufacturing of paper
and other stationery items. It is an educational syllabus based content provider in print & digital Address
medium, manufacturer of scholastic paper stationery, publisher of general & children books and
also has a wide range of scholastic non-paper stationary products. Since inception, the company has Navneet Bhavan,
published more than 5,000 titles in English, Gujarati, Hindi, Marathi, Tamil, Urdu and other Indian Bhavani Shankar Road,
and foreign languages. It also publishes various titles in the children and general books category. Dadar (West),
Its educational products are sold under brands Navneet, Vikas, Gala, Grafalco, FfUuNn and Mumbai - 400028, Maharashtra
Boss. Website: www.navneet.com

9,619.4 1,293.0 5,550.1 2,334.0 24.3 13.4 23.3
(As on Mar 31, 2015)

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Company Abbreviations
Company Name Abbreviation

3M India Limited 3M India
Aarti Drugs Limited ADL
Aarti Industries Limited Aarti
ABB India Limited ABB
Abbott India Limited Abbott
ACC Limited ACC
Adani Enterprises Limited AEL
Adani Ports and Special Economic Zone Limited APSEZL
Adani Power Limited Adani Power
Aditya Birla Nuvo Limited ABNL
Ahluwalia Contracts (India) Limited ACIL
AIA Engineering Limited AIAE
Ajanta Pharma Limited Ajanta Pharma
Akzo Nobel India Limited Akzo Nobel India
Alembic Pharmaceuticals Limited APL
Allahabad Bank Alhd Bank
Allcargo Logistics Limited Allcargo
ALSTOM India Limited ALSTOM
Alstom T&D India Limited Alstom T&D
Amara Raja Batteries Limited Amara Raja
Ambuja Cements Limited Ambuja Cements
Andhra Bank Andhra Bank
Apar Industries Limited AIL
APL Apollo Tubes Limited APL Apollo
Apollo Hospitals Enterprise Limited Apollo Hospitals
Apollo Tyres Limited Apollo Tyres
Arvind Limited Arvind
Asahi India Glass Limited AIS
Ashok Leyland Limited Ashok Leyland
Ashoka Buildcon Limited ABL
Asian Paints Limited Asian Paints
Astral Poly Technik Limited APTL
Atul Limited Atul
Aurobindo Pharma Limited Aurobindo
Avanti Feeds Limited Avanti Feeds
Axis Bank Limited Axis Bank
Bajaj Auto Limited Bajaj Auto


Bajaj Electricals Limited Bajaj Electricals
Bajaj Finance Limited BFL
Bajaj Holdings & Investment Limited BHIL
Balkrishna Industries Limited Balkrishna Industries
Balmer Lawrie & Co Limited Balmer Lawrie
Balrampur Chini Mills Limited Balrampur Chini
Bank of Baroda BoB
Bank of India BoI
Bank of Maharashtra BoM
Banswara Syntex Limited Banswara Syntex
BASF India Limited BASF India
Bata India Limited Bata
Bayer CropScience Limited BCSL
BEML Limited BEML
Berger Paints India Limited Berger
BGR Energy Systems Limited BGR Energy
Bharat Electronics Limited BEL
Bharat Forge Limited Bharat Forge
Bharat Heavy Electricals Limited BHEL
Bharat Petroleum Corporation Limited BPCL
Bharti Airtel Limited Bharti Airtel
Bharti Infratel Limited Bharti Infratel
Biocon Limited Biocon
Birla Corporation Limited Birla Corp
Blue Dart Express Limited Blue Dart
Blue Star Limited Blue Star
Bodal Chemicals Limited Bodal Chemicals
Bosch Limited Bosch
Brigade Enterprises Limited Brigade Enterprises
Britannia Industries Limited Britannia
BS Limited BS
Cadila Healthcare Limited Cadila
Cairn India Limited Cairn
Canara Bank Canara Bank
Capital First Limited Capital First
Carborundum Universal Limited CUMI
Castrol India Limited Castrol


CEAT Limited CEAT
Central Bank of India Central Bank
Century Enka Limited CEL
Century Plyboards (India) Limited CPIL
Century Textiles and Industries Limited Century Tex
CESC Limited CESC
Chambal Fertilisers and Chemicals Limited Chambal Fertilisers
Cholamandalam Investment and Finance Company Limited CIFCL
Cipla Limited Cipla
City Union Bank Limited CUB
Clariant Chemicals (India) Limited Clariant
Coal india Limited CIL
Colgate-Palmolive (India) Limited Colgate
Compuage Infocom Limited Compuage
Container Corporation of India Limited CONCOR
Coromandel International Limited Coromandel
Corporation Bank CorpnBank
Cosmo Films Limited Cosmo Films
Crompton Greaves Limited CG
Cummins India Limited Cummins
Cyient Limited Cyient
D. B. Corp Limited DBCL
Dabur India Limited Dabur
Dalmia Bharat Sugar and Industries Limited Dalmia Sugar
DCB Bank Limited DCB
DCM Shriram Industries Limited DCM Shriram
DCM Shriram Limited DCM
DCW Limited DCW
Deepak Fertilisers and Petrochemicals Corporation Limited DFPCL
Deepak Nitrite Limited Deepak
Dena Bank Dena Bank
Dewan Housing Finance Corporation Limited DHFL
Dhampur Sugar Mills Limited DSML
Dhunseri Petrochem Limited DPL
Diamond Power Infrastructure Limited DPIL
Divi's Laboratories Limited Divis
DLF Limited DLF


Dr. Reddys Laboratories Limited Dr Reddy
E.I.D.- Parry (India) Limited EID-Parry
Eicher Motors Limited Eicher
EIH Limited EIH
Electrosteel Castings Limited Electrosteel Castings
Emami Limited Emami
Engineers India Limited EIL
Eros International Media Limited Eros
Escorts Limited Escorts
Eveready Industries India Limited Eveready
Everest Industries Limited Everest Industries
Excel Crop Care Limited ECCL
Exide Industries Limited Exide
FAG Bearings India Limited FAG Bearings
Fedders Lloyd Corporation Limited Fedders Lloyd
Federal-Mogul Goetze (India) Limited FMGIL
Filatex India Limited Filatex
Finolex Cables Limited Finolex Cables
Finolex Industries Limited Finolex Industries
Flexituff International Limited Flexituff
Force Motors Limited Force Motors
Future Enterprises Limited Future Retail
Future Lifestyle Fashions Limited FLF
Gabriel India Limited Gabriel
GAIL (India) Limited GAIL
GHCL Limited GHCL
Gillette India Limited Gillette
GlaxoSmithKline Consumer Healthcare Limited GSKCH
GlaxoSmithKline Pharmaceuticals Limited GSK
Glenmark Pharmaceuticals Limited Glenmark
Godawari Power & Ispat Limited GPIL
Godfrey Phillips India Limited Godfrey
Godrej Consumer Products Limited GCPL
Godrej Industries Limited Godrej Industries
Gokaldas Exports Limited GEL
Gokul Refoils and Solvent Limited GR&SL
Good Luck Steel Tubes Limited Good Luck Steel


Goodyear India Limited Goodyear
Granules India Limited Granules)
Graphite India Limited Graphite India
Grasim Industries Limited Grasim
Greaves Cotton Limited Greaves Cotton
Greenply Industries Limited Greenply
Grindwell Norton Limited GNL
GRUH Finance Limited GRUH Finance
Gujarat Alkalies and Chemicals Limited GACL
Gujarat Ambuja Exports Limited GAEL
Gujarat Fluorochemicals Limited GFL
Gujarat Gas Limited GGL
Gujarat Industries Power Company Limited GIPCL
Gujarat Mineral Development Corporation Limited GMDC
Gujarat Narmada Valley Fertilizers & Chemicals Limited GNFC
Gujarat State Fertilizers & Chemicals Limited GSFC
Gujarat State Petronet Limited GSPL
Gulf Oil Lubricants India Limited GOLIL
Hatsun Agro Product Limited Hatsun
Havells India Limited Havells India
HBL Power Systems Limited HBL
HCL Technologies Limited HCL
HDFC Bank Limited HDFC Bank
HEG Limited HEG
HeidelbergCement India Limited HCIL
Heritage Foods Limited HFL
Hero MotoCorp Limited HML
Hexaware Technologies Limited Hexaware
HIL Limited HIL
Himachal Futuristic Communications Limited HFCL
Himadri Chemicals & Industries Limited Himadri Chemicals
Himatsingka Seide Limited Himatsingka Seide
Hindalco Industries Limited Hindalco
Hinduja Global Solutions Limited HGS
Hindustan Construction Company Limited HCC
Hindustan Copper Limited Hindustan Copper
Hindustan Petroleum Corporation Limited HPCL


Hindustan Unilever Limited HUL
Hindustan Zinc Limited Hindustan Zinc
Hitachi Home and Life Solutions (India) Limited HHLSL
Honeywell Automation India Limited Honeywell
Housing Development Finance Corporation Limited HDFC
HSIL Limited HSIL
HT Media Limited HT Media
Huhtamaki PPL Limited HPPL
I G Petrochemicals Limited IGPL
ICICI Bank Limited ICICI Bank
IDBI Bank Limited IDBI Bank
Idea Cellular Limited Idea Cellular
IDFC Limited IDFC
IFB Industries Limited IFB
IFCI Limited IFCI
IL&FS Transportation Networks Limited ITNL
India Glycols Limited Glycols
Indiabulls Housing Finance Limited IBHFL
Indian Bank Indian Bank
Indian Metals and Ferro Alloys Limited IMFA
Indian Oil Corporation Limited IOCL
Indian Overseas Bank IOB
Indo Count Industries Limited Indo Count
Indo Rama Synthetics (India) Limited Indo Rama
Indraprastha Gas Limited IGL
IndusInd Bank Limited IndusInd
INEOS Styrolution India Limited INEOS Styrolution
Infosys Limited Infosys
Inox Leisure Limited Inox Leisure
Insecticides (India) Limited Insecticides India
Ipca Laboratories Limited Ipca
IRB Infrastructure Developers Limited IRB Infra
Isgec Heavy Engineering Limited ISGEC
ITC Limited ITC
ITD Cementation India Limited ITD Cementation India
J. Kumar Infraprojects Limited JKIL
J.B.Chemicals & Pharmaceuticals Limited JBCPL


J.K. Cement Limited JKCL
Jagran Prakashan Limited Jagran Prakashan
Jain Irrigation Systems Limited Jain Irrigation
Jaiprakash Power Ventures Limited JPVL
Jamna Auto Industries Limited JAI
Jay Bharat Maruti Limited JBML
Jayaswal Neco Industries Limited JNIL
JBF Industries Limited JBF Industries
Jindal Poly Films Limited JPFL
Jindal Saw Limited JSL
JK Lakshmi Cement Limited JK Lakshmi Cement
JK Paper Limited JK Paper
JK Tyre & Industries Limited JK Tyre
JMC Projects (India) Limited JMC
JSW Energy Limited JSW Energy
JSW Steel Limited JSW Steel
Jubilant FoodWorks Limited JFL
Jubilant Life Sciences Limited Jubilant Life Sciences
JVL Agro Industries Limited JVL Agro
Jyothy Laboratories Limited Jyothy
K. P. R. Mill Limited KPR Mill
Kajaria Ceramics Limited Kajaria
Kalpataru Power Transmission Limited KPTL
Kalyani Steels Limited KSL
Kansai Nerolac Paints Limited KNPL
Kaveri Seed Company Limited Kaveri Seed
KEC International Limited KEC
KEI Industries Limited KEI Industries
Kirloskar Brothers Limited KBL
Kirloskar Ferrous Industries Limited KFIL
Kirloskar Oil Engines Limited KOEL
Kkalpana Industries (India) Limited KIL
Kohinoor Foods Limited Kohinoor Foods
Kotak Mahindra Bank Limited KMBL
Kothari Products Limited Kothari Products
KPIT Technologies Limited KPIT
KRBL Limited KRBL


Kwality Limited Kwality
L.G. Balakrishnan & Bros Limited LGB
Lakshmi Machine Works Limited LMW
Larsen & Toubro Limited L&T
LIC Housing Finance Limited LICHFL
Linde India Limited Linde India
Lloyd Electric & Engineering Limited Lloyd
Loyal Textile Mills Limited Loyal Textile Mills
LT Foods Limited LT Foods
Lumax Industries Limited Lumax
Lupin Limited Lupin
Mafatlal Industries Limited Mafatlal Industries
Magma Fincorp Limited Magma Fincorp
Maharashtra Seamless Limited Maharashtra Seamless
Mahindra & Mahindra Financial Services Limited MMFSL
Mahindra & Mahindra Limited M&M
Mahindra CIE Automotive Limited Mahindra CIE
Man Industries (India) Limited Man Industries
Manappuram Finance Limited MFL
Mandhana Industries Limited Mandhana
Mangalore Chemicals and Fertilizers Limited MCF
Mangalore Refinery and Petrochemicals Limited MRPL
Marico Limited Marico
Maruti Suzuki India Limited Maruti Suzuki
MBL Infrastructures Limited MBL
Mcleod Russel India Limited MRIL
McNally Bharat Engineering Company Limited MBE
Meghmani Organics Limited Meghmani
Minda Industries Limited MIL
Mindtree Limited Mindtree
MMTC Limited MMTC
MOIL Limited MOIL
Motherson Sumi Systems Limited MSSL
Mphasis Limited Mphasis
MRF Limited^^ MRF
Munjal Showa Limited MSL
Muthoot Finance Limited Muthoot Finance


Nahar Industrial Enterprises Limited NIEL
Nahar Spinning Mills Limited Nahar Spinning
Nandan Denim Limited NDL
National Aluminium Company Limited Nalco
National Buildings Construction Corporation Limited NBCC
National Fertilizers Limited NFL
Nava Bharat Ventures Limited NBVL
Navneet Education Limited Navneet
NCC Limited NCC
Nectar Lifesciences Limited NecLife
Nestl India Limited Nestle
Neyveli Lignite Corporation Limited NLC
NHPC Limited NHPC
NIIT Technologies Limited NIIT Technologies
Nilkamal Limited Nilkamal
NMDC Limited NMDC
Novartis India Limited Novartis
NTPC Limited NTPC
OCL India Limited OCL India
Oil and Natural Gas Corporation Limited ONGC
Oil India Limited OIL
Omax Autos Limited Omax
Omaxe Limited Omaxe
Oracle Financial Services Software Limited Oracle Financial
Orient Cement Limited Orient Cement
Orient Paper & Industries Limited OPIL
Oriental Bank of Commerce OBC
Page Industries Limited Page
Patel Engineering Limited Patel Engineering
PC Jeweller Limited PC Jeweller
Persistent Systems Limited PSL
Petronet LNG Limited PLL
Pfizer Limited Pfizer
Phillips Carbon Black Limited PCBL
PI Industries Limited PI
Pidilite Industries Limited Pidilite
Piramal Enterprises Limited PEL


Polaris Consulting & Services Limited Polaris
Polyplex Corporation Limited Polyplex
Power Finance Corporation Limited PFC
Power Grid Corporation of India Limited PGCIL
Pratibha Industries Limited Pratibha Industries
Prestige Estates Projects Limited Prestige Estates
Procter & Gamble Hygiene and Health Care Limited PGHHC
PTC India Limited PTC
Punj Lloyd Limited Punj
Punjab & Sind Bank P&SB
Punjab National Bank PNB
Puravankara Projects Limited Puravankara
PVR Limited PVR
Radico Khaitan Limited RKL
Rajesh Exports Limited REL
Rallis India Limited Rallis
Rashtriya Chemicals and Fertilizers Limited RCF
Ratnamani Metals & Tubes Limited Ratnamani
Raymond Limited Raymond
Redington (India) Limited Redington
Relaxo Footwears Limited RFL
Reliance Capital Limited RCL
Reliance Communications Limited RCOM
Reliance Industries Limited RIL
Reliance Infrastructure Limited Rinfra
Renaissance Jewellery Limited RJL
Responsive Industries Limited Responsive Industries
Rolta India Limited Rolta
RSWM Limited RSWM
Ruchi Infrastructure Limited Ruchi Infra
Ruchi Soya Industries Limited Ruchi Soya
Rupa & Company Limited Rupa
Rural Electrification Corporation Limited REC
Sadbhav Engineering Limited SEL
Sangam (India) Limited Sangam
Sanofi India Limited Sanofi India
Sanwaria Agro Oils Limited SAOL


Sarda Energy & Minerals Limited SEML
Savita Oil Technologies Limited Savita Oil Technologies
Seshasayee Paper and Boards Limited SPB
Shasun Pharmaceuticals Limited Shasun Pharma
Shilpi Cable Technologies Limited Shilpi
Shirpur Gold Refinery Limited SGRL
Shoppers Stop Limited Shoppers Stop
Shree Cement Limited Shree Cement
Shree Renuka Sugars Limited SRSL
Shrenuj & Co. Limited Shrenuj
Shriram City Union Finance Limited Shriram City
Shriram Transport Finance Company Limited Shriram Transport
Siemens Limited Siemens
Simplex Infrastructures Limited Simplex Infrastructures
Sintex Industries Limited Sintex
Siyaram Silk Mills Limited Siyaram
SJVN Limited SJVN
SKF India Limited SKF India
Skipper Limited Skipper
SML Isuzu Limited SML Isuzu
Sobha Limited Sobha
Solar Industries India Limited SIIL
Somany Ceramics Limited Somany
Sona Koyo Steering Systems Limited Sona Koyo
SPML Infra Limited SPML
Srei Infrastructure Finance Limited Srei Infrastructure Finance
SRF Limited SRF
Srikalahasthi Pipes Limited SPL
SRS Limited SRS
State Bank of Bikaner & Jaipur SBBJ
State Bank of India SBI
State Bank of Mysore SB Mysore
State Bank of Travancore SBT
Steel Authority of India Limited SAIL
Steel Exchange India Limited SEIL
Steel Strips Wheels Limited SSWL
Sterlite Technologies Limited Sterlite Technologies


Strides Shasun Limited Strides
Subros Limited Subros
Sudarshan Chemical Industries Limited SCIL
Sun Pharmaceutical Industries Limited Sun Pharma
Sun TV Network Limited Sun TV
Sundaram Finance Limited Sundaram Finance
Sundaram-Clayton Limited SCL
Sundram Fasteners Limited Sundram Fasteners
Sunflag Iron and Steel Company Limited Sunflag Iron
Sunil Hitech Engineers Limited SHEL
Supreme Infrastructure India Limited Supreme Infrastructure
Supreme Petrochem Limited Supreme Petrochem
Surya Roshni Limited Surya
Sutlej Textiles and Industries Limited Sutlej Textiles
Syndicate Bank Syndicate
Tamil Nadu Newsprint and Papers Limited TNPL
Tara Jewels Limited Tara Jewels
Tata Chemicals Limited Tata Chemicals
Tata Communications Limited TCL
Tata Consultancy Services Limited TCS
Tata Global Beverages Limited TGB
Tata Metaliks Limited Tata Metaliks
Tata Motors Limited Tata Motors
Tata Steel Limited Tata Steel
Tech Mahindra Limited TML
Thangamayil Jewellery Limited TMJL
The Bombay Dyeing and Manufacturing Company Limited Bombay Dyeing
The Dhanlaxmi Bank Limited Dhanlaxmi Bank
The Federal Bank Limited Federal Bank
The Great Eastern Shipping Company Limited GE Shipping
The India Cements Limited India Cement
The Indian Hotels Company Limited IHCL
The Indian Hume Pipe Company Limited IHP
The Jammu and Kashmir Bank Limited J&K Bank
The Karnataka Bank Limited Karnataka Bank
The Karur Vysya Bank Limited KVB
The Lakshmi Vilas Bank Limited LVB


The Ramco Cements Limited Ramco
The Shipping Corporation of India Limited SCI
The South Indian Bank Limited SIB
The State Trading Corporation of India Limited STC
The Supreme Industries Limited Supreme
The Tata Power Company Limited Tata Power
The West Coast Paper Mills Limited WCPM
Thermax Limited Thermax
Tide Water Oil Co. (India) Limited Tide Water Oil Co
Time Technoplast Limited Time Tech
Titan Company Limited Titan
Torrent Pharmaceuticals Limited Torrent Pharma
Torrent Power Limited Torrent
Transport Corporation of India Limited TCIL
Trent Limited Trent
Tribhovandas Bhimji Zaveri Limited TBZ
Trident Limited Trident
TTK Prestige Limited TTK Prestige
Tube Investments of India Limited TII
TVS Motor Company Limited TVS Motor
TVS Srichakra Limited TVS Srichakra
UCO Bank UCO
Uflex Limited Uflex
UltraTech Cement Limited UltraTech
Unichem Laboratories Limited Unichem
Union Bank of India Union Bank
United Bank of India United Bank
United Breweries Limited UBL
United Spirits Limited USL
UPL Limited UPL
Usha Martin Limited Usha Martin
Ushdev International Limited Ushdev
Usher Agro Limited Usher Agro
Uttam Galva Steels Limited Uttam Galva
VA Tech Wabag Limited Wabag
Vakrangee Limited Vakrangee
Vardhman Textiles Limited Vardhman Textiles


Vedanta Limited Vedanta
Venky's (India) Limited Venkys
V-Guard Industries Limited V-Guard
Videocon Industries Limited Videocon
Vijaya Bank Vijaya Bank
VIP Industries Limited VIP
Visaka Industries Limited Visaka
Voltas Limited Voltas
WABCO India Limited Wabco India
Welspun Corp Limited Welspun Corp
Welspun India Limited WIL
Wheels India Limited Wheels India
Whirlpool of India Limited Whirlpool
Wipro Limited Wipro
Wockhardt Limited Wockhardt
Yes Bank Limited Yes Bank
Zee Entertainment Enterprises Limited ZEE
Zensar Technologies Limited Zensar
Zuari Agro Chemicals Limited ZACL

Abbreviations - Banks, Institutions and Others
Abbreviation Term
AAI Airports Authority of India
ABF Axis Bank Foundation
AMC Asset Management Company
AMFI Association of Mutual Funds of India
BARC Bhabha Atomic Research Centre
BCAs Business Correspondent Agents
BIS Bureau of Indian Standard
Borelli Borelli Tea Holdings Limited, UK
BPCL Bharat Petroleum Corporation Limited
BSE Bombay stock exchange
BSEML Blue Star Electro-Mechanical Limited
BSNL Bharat Sanchar Nigam Limited
CBDT Central Board of Direct Taxes
CBOT Chicago Board of Trade
CDSL Cholamandalam Distribution Services Limited
CEIL Certification Engineers International Limited
CIS Commonwealth of Independent States
CPCB Central Pollution Control Board
CPSE Central Public Sector Enterprise
CSEC Cholamandalam Securities Limited
CSIR Council of Scientific and Industrial Research
DDA Delhi Development Authority
DIFC Dubai International Financial Centre
DMRC Delhi Metro Rail Corporation
DVC Damodar Valley Corporation
FAI The Fertiliser Association of India
FCI Fertilizer Corporation of India
FCIL Fertilizer Corporation of India Limited
FIs FinanciaL Institutions
GIC General Insurance Corporation of India
GIGL GSPL India Gasnet Limited
GITL GSPL India Transco Limited
GoI Government of India
GSFC Gujarat State Fertilizer & Chemicals Limited
GSPC Gujarat State Petroleum Corporation Limited
GSPL Gujarat State Petronet Limited

Abbreviation Term
ICC The International Chamber of Commerce
ICWA The Institute of Cost & Works Accountants of India
IDCs Internet Data Centers
IEC International Electrotechnical Commission
IRDA Insurance Regulatory and Development Authority
ISO International Organization for Standardization
ISUZU Isuzu Motors Limited
J&J Johnson & Johnson
JHCL Jaypee Healthcare Limited
JN Port Jawaharlal Nehru Port
KPTCL Karnataka Power Transmission Corporation
LIC Life Insurance Corporation of India
LLP LimitedLiability Partnership
MFIs Microfinance Institutions
MIBL Mahindra Insurance Brokers Limited
MOPNG Ministry of Petroleum & Natural Gas
MPRDC Madhya Pradesh Road Development Corporation
MRHFL Mahindra Rural Housing Finance Limited
MSE Micro and Small Enterprises
MSEDCL Maharashtra State Electricity Distribution Company Limited
MSIL Maruti Suzuki India Limited
MSME Micro Small and Medium Enterprise
MSRDC Maharashtra State Road Development Corporation
NASSCOM The National Association of Software and Services Companies
NEMA National Electrical Manufacturers Association
NHAI National Highways Authority of India
NHB National Housing Bank
NOIDA New Okhla Industrial Development Authority
NPPA National Pharmaceutical Pricing Authority
NSDC National Skill Development Corporation
NSE National Stock Exchange of India Limited
OCP Office Cherifien Des Phosphates
OPIC Overseas Private Investment Corporation
PCL Public Company Limited
PFRL Pantaloons Fashion & Retail Limited
POSCO Pohang Iron and Steel Company
PPP Public-Private Partnership

Abbreviation Term
PTSPL Pyxis Technology Solutions Private Limited
PWD Public Works Department
QC Quality Control
RBI Reserve Bank of India
RF Radio Frequency
RINL Rashtriya Ispat Nigam Limited
RTC Research & Technology Center
RVNL Rail Vikas Nigam Limited
SAARC South Asian Association for Regional Cooperation
SCB Scheduled Commercial Bank
SEBI Security Exchange Board of India
SEIL Steel Exchange India Limited
SHCIL Stock Holding Corporation of India Limited
SIIDCUL State Infrastructure and Industrial Development Corporation of Uttarakhand Limited
SMP Samvardhana Motherson Peguform
STP Sewage Treatment Plant
TAFE Tractors and Farm Equipment Limited
TBTUs Thousand British Thermal Units
TELCO Tata Engineering and Locomotive Company
UCL UltraTech Chemco Limited
UIDAI Unique Identification Development Authority of India
UMC Udaipur Municipal Corporation
UN United Nations
USFDA United States Food and Drug Administration
UTI Unit Trust of India
ZF Zahnradfabrik
ZWAOL Zero Waste Agro Organics Limited

ABBREVIATIONS - PRODUCT
ABBREVIATION PRODUCT
2G 2nd Generation
3D Three Dimensional
3G 3rd Generation
4G 4th Generation
AAC Aerated Autoclaved Concrete
ABC Ammonium Bi-Carbonate
AC Air Conditioning
ADM Application Development and Maintenance
AED Automated External Defibrillators
ANP Ammonium Nitro Phosphate
API Active Pharmaceutical Ingredient
ATF Aviation Turbine Fuel
ATM Automatic Teller Machine
BCA Banking Business Correspondents Agents
BI Business Intelligence
Biola Bio-Fertilizers
Bio-MEG Bio-Mono Ethylene Glycol
BOPP Bi-Axially Oriented Polypropylene Film
CFL Compact Fluorescent Lamp
CFS Container Freight Stations
CI Casting Iron
CNC machine Computer Numerical Control machine
CP Commercial Paper
CPP film Casting Polypropylene Film
CS Carbon Steel
CTC Crushed, Torn and Curled
CVC Chief Value Cotton
DGBB Deep Groove Ball Bearings
DI Ductile Iron
DNA Daily News and Analysis
DPI Domino Pizza India
DTY Draw Texturised Yarn
ECH Epichlorohydrin
ERP Enterprise Resource Planning
ETP "Electrolytic
Tinplates"
FBB Fashion at Big Bazaar

FCL Full Container Load
FD Fixed Deposit
FDY Fully Drawn Yarn
G&L Greases and Lubricants
GRP Glass Reinforced Plastic
HCl Hydrochloric Acid
HIPS High Impact Polystyrene
HPC Home & Personal Care
HPR High Performance Refractories
HPSV High Pressure Sodium Vapour
HSAW Helically Submerged Arc Welded
ICD Inland Container Depots
IMPS Inter Bank Mobile Payment System
LAM coke Low Ash Metallurgical (coke)
LCL Less-Than-Container Load
LED Light Emitting Diode
LRVs Light Rail Vehicles
LSAW Longitudinally Submerged Arc Welded Steel pipes
LTE Long Term Evolution
M&HCVs Medium and Heavy Commercial Vehicles
MPLS Multiprotocol Label Switching
MS Mild Steel
MUV Multi-Utility Vehicle
NPK Nitrogen, Phosphorous, and Potash (Potassium)
NVOCC Non Vessel Operating Common Carrier
OPC OrdinaryPortlandCement
OPP film Oriented Polypropylene Film
PC Polycarbonate / Passenger Cars / performance chemical
PCs Passenger Cars
PET Polyethylene Terephthalate
PFY Polyester Filament Yarn
PMC Project Management Consultancy
POY Partially-Oriented Yarn
PPC Pozzolana PortlandCement
PS Polystyrene
PSF Polyester Staple Fibre
PTA Purified Terephthalic Acid

PTFE Poly Tetrafluoroethylene
PVC Polyvinyl Chloride
RCCB Residual Current Circuit Breaker
RD Recurring Deposit
REIT Real Estate Investment Trust
RMC Ready Mixed Concrete
SAP System Application & Products
SAW Submerged Arc Welded
SMP Skimmed Milk Powder
SMS Short Message Service
SNF Sulphonated Naphthalene Formaldehyde / Solids, Not Fat
SPC Specialty Polymers and Compounds
SS Stainless Steel
Sujala Soluble Fertilizers
TRB Taper Roller Bearings
UCE Unit Construction Engine
UV Utility Vehicles
VFY Viscose Filament Yarn
WLA White Label ATM's
WMP Whole Milk Powder
XPS Extruded Polystyrene Insulation Boards

ABBREVIATIONS - NON PRODUCT
ABBREVIATION TERM
9M Nine Month
AAUM Average Assets Under Management
ANBC Adjusted Net Bank Credit
ANDAs Abbreviated New Drug Application
ARB Agricultural and Rural Banking
AUM Assets Under Management
B2B Business to Business
B2C Business-to-Consumer
BC Business Correspondence
BFSI Banking, Financial services and Insurance
BMW Bavarian Motor Works
BOF Basic Oxygen Furnace
BOOT Build, Own, Operate, Transfer
BoP Balance of Plant
BOT Build-Operate-Transfer
BPM Business Process Management
BPO Business Process Outsourcing
BS British Standards
CAD Computer-Aided Design / Current Account Deficit
CAM Computer-Aided Manufacturing
CASA Current and Savings Account Ratio
CDR Corporate Debt Restructuring
CDs Cash Dispensers
CEM Customer Experience Management
CEP Certification of Suitability of European Pharmacopoeia Monographs
CNG Compressed Natural Gas
CNS Central Nervous System
Co2 Carbon Dioxide
COMIT Card Online Management and Inquiry Tool
CPI Consumer price index
CPP Captive Power Plant
CR Cold Rolled
CRAMS Contract Research and Manufacturing Services
CSR Corporate Social Responsibility
CV Commercial Vehicles / CardioVascular
CY Calendar Year
DAP Di Ammonium Phosphate

ABBREVIATION TERM
DBFOT Design, Build, Finance, Operate and Transfer
DBT Direct Benefit Transfer
DBTL Direct Benefit Transfer for LPG
DDoS Denial-of-Service
DFI Development Financial Institution
DIY Square Do-It-Yourself store
DMFs Drug Master Files
DRG Decision Resources Group
DSP Dart SurfacelinePlus
DT&A Data Transformation and Analytics
DTH Direct to Home
D-U-N-S Data Universal Numbering System
DW Dairy Whitener
E&C Engineering & Construction
E&P Exploration and Production
EBOs Exclusive Brand Outlets
EDM Electrical Discharge Machining
EDMF European Drug Master File
EHV Extra High Voltage
EILAP EIL Asia Pacific Sdn. Bhd.
e-KYC Electronic Know Your Customer
EMD Electrolytic Manganese Dioxide
EMI Equated Monthly Instalments
EMUs Electric Multiple Unit
EMV Europay, MasterCard, and Visa
EOU Export Oriented Unit
EPC Engineering Procurement and Construction / Erection Procurement and Construction
EPS Engineering Products and Services / Expandable Polystyrene
ESOP Employee Stock Ownership Plan
F&B Foods & Beverages
F2R Free to Ride
FATCA Foreign Account Tax Compliance Act
FCNR Foreign Currency Non-Resident Account
FDI Foreign direct Investment
FIBC Flexible Intermediate Bulk containers
FMCG Fast-Moving Consumer Goods
FOREX Foreign Exchange

ABBREVIATION TERM
FR-LSH Flame Retardant Low Smoke and Halogen free
FSSC Food Safety System Certification
FY Financial Year
FZC Free Zone Company
FZE Free Zone Establishment
G.I Gastro Intestinal
G2C Government to Citizen
GAAR General Anti-Avoidance Rule
GCC General Credit Card
GCT Groupe Chimique Tunisien
GDC Gravity Die Casting / Global Delivery Center
GDP Gross Domestic Product
GIS Gas-Insulated Substations
GLS General Lighting Service
Govt. Government
GP Galvanised Plain
GPPS General Purpose Polystyrene
GST Goods and Services Tax
GTCI Global Technical Centre India
GVA Gross Value Added
HAPi Hazira-Ankleshwar natural gas pipeline
HBU Hub Bearing Unit
HCV Heavy Commercial Vehicles
HNI High Netwoth Individuals
HTSE High Technology Self Energizer
ICOR Incremental Capital Output Ratio
ICV Intermediate Commercial Vehicle
IFRS International Financial Reporting Standards
IIP Index of Industrial Production
IMACID Indo Maroc Phosphore SA
IMF International Monetary Fund
IMT Instant Money Transfer
Inc Incorporation
INR Indian Rupee
IP Internet Protocol / Industrial Packaging
IPL Indian Premier League
IPLC International Private Leased Circuit

ABBREVIATION TERM
IPO Initial Public Offer
IS International Standard
ISP IISCO Steel Plant
IT Information Technology
JCB J.C. Bamford Excavators Limited
JIS Japanese Industrial Standards
JV Joint Venture
KGF Kolar Gold Fields
LCNG Liquid to Compressed Natural Gas
LCV Light Commercial Vehicle
LED Light Emitting Diode
LEED Leadership in Energy and Environmental Design
LI Logistics Infrastructures
LIFE Living, Industrial and Farm Essentials
LLC Limited Liability Company
LLLR Low Level Light Weight Radar
LNG Liquefied Natural Gas
LPDC Low Pressure Die Casting
LPG Liquefied Petroleum Gas
LRF Ladle Refining Furnaces
LS Logistics Services
LTC Low-Temperature Carbonization
M&A Mergers & Acquisitions
MBOs Multi Brand Outlets
MCB Miniature Circuit Breaker
MEP Mechanical, Electrical, Plumbing & Fire fighting
MFs Mutual Funds
MHz MegaHertz
MICE Meeting, Incentive, Conference, and Exhibition
Microla Micro Nutrient Fertilizers
MNC Multinational Companies in India
MOOC Massive Open Online Courses
MOP Muriate of Potash
MoU Memorandum of Understanding
MTO Multimodal Transport Operations
N&O Networks and Operations
NBFC Non Banking Finance Company

ABBREVIATION TERM
NCE New Chemical Entity
NCR National Capital Region
NEFT National Electronic Funds Transfer
NeGP National e-Governance Plan
NGSSS Next Generation Staple Spinning System
NLD National Long Distance
NLW Non Linked Washery
NPAs Non-Performing Assets
NPM Net Profit Margin
NPS National Pension Scheme
NRI Non Resident Indian
NRO account Non-Resident Ordinary account
O&M Operation & Maintenance / Operations and Management
OEMs Original Equipment Manufacturer
OHSAS Occupational Health & Safety Advisory Services
OTC Over The Counter
OTG Oven Toaster Grillers
OTR Off-The-Road
P&E Project & Engineering Solutions
P2P Point to Point
PAN Phthalic Anhydride / Permanent Account Number
PAT Profit after Tax
PD Pharma Dynamics
PDC Pressure Die-casting
PF Powder Proof
PFI Pharmaceutical Formulation Intermediates
PGDM Post Graduate Diploma in Management
PGPXP Post Graduate Programme for Experienced Professionals
PNG Piped Natural Gas
POS Point of Sale
PPL Performance Plastics
PPM Professional Pest Management
PPP Purchasing Power Parity
PSC Portland Slang Cement
PSE Public Sector Enterprises
PSUs Public Sector Undertakings
PV Polyester Viscose / Passenger Vehicles

ABBREVIATION TERM
PWP Printing and Writing Paper
R&D Research and Development
R-APDRP The Restructured Accelerated Power Development and Reforms Programme
RFC account Resident Foreign Currency Account
RGGVY Rajiv Gandhi Grameen Vidyutikaran Yojana
ROA Return on Assets
ROACE Return on Average Capital Employed
ROI Return on Investment
RSBY Rashtriya Swasthya Bima Yojana
RTGS Real Time Gross Settlement
SEZ Special Economic Zone
SF Standard Furukawa
SHG Self Help Group
SIG Structured Investment Group
SME Small and Medium Enterprises
SPV Solar Photo Voltaics / Special Purpose Vehicles
SRPC Sulphate Resisting Portland Cement
SSP Single Super Phosphate / Semi-Synthetic Penicillin
SUVs Sports Utility Vehicles
T&T Tours and Travels
TCE Tata Cheicls Europe
TCL Temperature Controlled Logistics
TDS Tax Deducted at Source
TF Trade Finance
THU Truck Hub Unit
TI Total Income
TKS Tata Kisan Sansar
TM Trade Mark
TMT steel Thermo Mechanically Treated Steel
TPP Thermal Power Project
TS Technical Specification
TV Television
UPS Uninterruptible Power Supply
USBs Ultra Small Branches
USD United States Dollar
USP Unique Selling Preposition

ABBREVIATION TERM
VAT Value-Added Tax
VC Video Conferencing
VLCCs Very Large Crude Carriers
VOC Volatile Organic Compound
VRF Variable Refrigerant Flow
VSAT Very Small Aperture Terminal
w.e.f. with effect from
WEC Women Empowerment Cell
WHRS Waste Heat Recovery Systems
WLAs White Label ATMs
YEA Yamuna Expressway Industrial Development Authority
y-o-y year-on-year

ABBREVIATIONS - UNITS
ABBREVIATION UNIT
bn Billion
BU Billion Units
CAGR Compound Annual Growth Rate
CBM cubic meter
cm Centimeter
DHDT Diesel Hydrotreater
gm Gram
HP Horsepower
kg Kilograms
km Kilometer
kms Kilometers
Kt Kilo Tonnes
KV Kilovolt
KVA Kilo-Volt-Ampere
KWH Kilowatt Hour
mg milligram
MGD Million Gallons Per Day
ml milli liter
MLD / MLPD Million Litres Per Day
mm Millimetre
MMSCMD Million Metric Standard Cubic Meter Per Day
MMT Million Metric Tons/ Million Tonnes
MMTPA Million Metric Tons Per Annum
mn Million
mn mtrs Million Meters
mn pcs Million Pieces
MT Metircs Ton/Million Ton
MTPA Metric Tons Per Annum
MTPD Metric Tons Per Day
mtrs Meters
MU Million Units
MUPA Million Units Per Annum
MV Medium Voltage
MW Mega Watt
MWh Megawatt-hours
p. a. Per Annum
SCMD Standard Cubic Meter Per Day
sq ft Square Feet
sq km Square Kilometer
sq. mtr Square meter
TCD Tonnes Crushed Per Day
TPA Tonnage Per Annum
TPD Tons Per Day
VGO HDT Vaccum Gasoil Hydrotreater

ABBREVIATIONS - MONTHS
ABBREVIATION MONTH
January Jan
February Feb
March Mar
April Apr
May May
June Jun
July Jul
August Aug
September Sep
October Oct
November Nov
December Dec
ABBREVIATIONS - COUNTRY/ STATE/ CITY/ REGION
ABBREVIATION REGION
AP Andra pradesh
D&NH Dadra & Nagar Haveli
EU European Union
HP Himachal Pradesh
J&K Jammu & Kashmir
ME Middle East
MIST Mexico-Indonesia-South Korea-Turkey
MP Madhya Pradesh
NZ New Zealand
RAK Ras al-Khaimah
SA South Africa
TN Tamil Nadu
UAE United Arab Emirates
UK United Kingdom
UP Uttar Pradesh
US United States
USA United States of America
UT Union Territory
WB West Bengal

INDEX
Index
3 B
3M India Limited................................................................................. 421 Bajaj Auto Limited................................................................................. 19
Bajaj Electricals Limited....................................................................... 101
A Bajaj Finance Limited.......................................................................... 152
Aarti Drugs Limited.............................................................................. 301 Bajaj Holdings & Investment Limited.................................................. 158
Aarti Industries Limited......................................................................... 69 Balkrishna Industries Limited.............................................................. 408
ABB India Limited................................................................................ 325 Balmer Lawrie & Co Limited................................................................ 109
Abbott India Limited............................................................................ 298 Balrampur Chini Mills Limited............................................................. 367
ACC Limited........................................................................................... 61 Bank of Baroda...................................................................................... 33
Adani Enterprises Limited................................................................... 393 Bank of India.......................................................................................... 32
Adani Ports and Special Economic Zone Limited................................. 417 Bank of Maharashtra............................................................................. 37
Adani Power Limited........................................................................... 318 Banswara Syntex Limited..................................................................... 386
Aditya Birla Nuvo Limited.................................................................... 109 BASF India Limited................................................................................. 69
Bata India Limited................................................................................ 183
Ahluwalia Contracts (India) Limited.................................................... 334
Bayer CropScience Limited...................................................................... 3
AIA Engineering Limited...................................................................... 128
BEML Limited...................................................................................... 127
Ajanta Pharma Limited........................................................................ 299
Berger Paints India Limited . ............................................................... 277
Akzo Nobel India Limited..................................................................... 278
BGR Energy Systems Limited............................................................... 126
Alembic Pharmaceuticals Limited....................................................... 298
Bharat Electronics Limited................................................................... 115
Allahabad Bank...................................................................................... 35
Bharat Forge Limited............................................................................... 9
Allcargo Logistics Limited.................................................................... 402
Bharat Heavy Electricals Limited......................................................... 125
ALSTOM India Limited......................................................................... 327 Bharat Petroleum Corporation Limited............................................... 257
Alstom T&D India Limited.................................................................... 326 Bharti Airtel Limited............................................................................ 373
Amara Raja Batteries Limited................................................................ 49 Bharti Infratel Limited......................................................................... 325
Ambuja Cements Limited...................................................................... 61 Biocon Limited..................................................................................... 297
Andhra Bank.......................................................................................... 36 Birla Corporation Limited...................................................................... 63
Apar Industries Limited....................................................................... 115 Blue Dart Express Limited.................................................................... 402
APL Apollo Tubes Limited.................................................................... 238 Blue Star Limited................................................................................. 102
Apollo Hospitals Enterprise Limited.................................................... 417 Bodal Chemicals Limited.............................................................. 76-77
Apollo Tyres Limited............................................................................ 407 The Bombay Dyeing and Manufacturing Company Limited................ 382
Arvind Limited..................................................................................... 379 Bosch Limited.......................................................................................... 9
Asahi India Glass Limited..................................................................... 203 Brigade Enterprises Limited................................................................ 334
Ashok Leyland Limited........................................................................... 26 Britannia Industries Limited................................................................ 170

BS Limited............................................................................................ 328
Ashoka Buildcon Limited....................................................................... 95
Asian Paints Limited............................................................................ 277 C
Astral Poly Technik Limited.................................................................. 311 Cadila Healthcare Limited................................................................... 294
Atul Limited........................................................................................... 70 Cairn India Limited.............................................................................. 263
Aurobindo Pharma Limited................................................................. 294 Canara Bank.......................................................................................... 32
Avanti Feeds Limited........................................................................... 177 Capital First Limited..................................................................156-157
Axis Bank Limited.................................................................................. 33 Carborundum Universal Limited......................................................... 421

INDEX
Castrol India Limited............................................................................ 361 Electrosteel Castings Limited............................................................... 238

CEAT Limited........................................................................................ 408 Emami Limited..................................................................................... 165
Central Bank of India............................................................................. 34 Engineers India Limited....................................................................... 129
Century Enka Limited.......................................................................... 386 Eros International Media Limited........................................................ 233
Century Plyboards (India) Limited....................................................... 413 Escorts Limited...................................................................................... 26
Century Textiles and Industries Limited................................................ 62 Eveready Industries India Limited....................................................... 120
CESC Limited........................................................................................ 320 Everest Industries Limited................................................................... 421
Chambal Fertilisers and Chemicals Limited......................................... 135 Excel Crop Care Limited........................................................................... 4
Cholamandalam Investment and Finance Company Limited.............. 153 Exide Industries Limited........................................................................ 49
Cipla Limited........................................................................................ 293
City Union Bank Limited........................................................................ 43
F
FAG Bearings India Limited.................................................................... 56
Clariant Chemicals (India) Limited......................................................... 74
Fedders Lloyd Corporation Limited..................................................... 130
Coal india Limited.................................................................................. 85
The Federal Bank Limited...................................................................... 41
Colgate-Palmolive (India) Limited........................................................ 164
Federal-Mogul Goetze (India) Limited................................................... 13
Compuage Infocom Limited................................................................ 420
Filatex India Limited............................................................................ 384
Container Corporation of India Limited.....................................400-401
Finolex Cables Limited......................................................................... 116
Coromandel International Limited...................................................... 135
Finolex Industries Limited................................................................... 310
Corporation Bank.................................................................................. 36
Flexituff International Limited........................................................ 272
Cosmo Films Limited........................................................................... 270
Force Motors Limited............................................................................ 26
Crompton Greaves Limited.................................................................. 325
Future Enterprises Limited.................................................................. 339
Cummins India Limited........................................................................ 126
Future Lifestyle Fashions Limited........................................................ 339
Cyient Limited..................................................................................... 354
D G
Gabriel India Limited............................................................................. 11
D. B. Corp Limited................................................................................ 231
GAIL (India) Limited............................................................................. 189
Dabur India Limited............................................................................. 163
GHCL Limited......................................................................................... 70
Dalmia Bharat Sugar and Industries Limited....................................... 368
Gillette India Limited........................................................................... 165
DCB Bank Limited.................................................................................. 44
GlaxoSmithKline Consumer Healthcare Limited.................................. 174
DCM Shriram Industries Limited......................................................... 368
GlaxoSmithKline Pharmaceuticals Limited.......................................... 296
DCM Shriram Limited.......................................................................... 109
Glenmark Pharmaceuticals Limited..................................................... 295
DCW Limited.......................................................................................... 73
Godawari Power & Ispat Limited......................................................... 221
Deepak Fertilisers and Petrochemicals Corporation Limited............... 137
Godfrey Phillips India Limited................................................................ 81
Deepak Nitrite Limited.......................................................................... 72
Godrej Consumer Products Limited.................................................... 164
Dena Bank............................................................................................. 40
Godrej Industries Limited...................................................................... 71
Dewan Housing Finance Corporation Limited..................................... 149
Gokaldas Exports Limited.................................................................... 386
Dhampur Sugar Mills Limited.............................................................. 368
Gokul Refoils and Solvent Limited....................................................... 170
The Dhanlaxmi Bank Limited................................................................. 44
Good Luck Steel Tubes Limited.................................................242-243
Dhunseri Petrochem Limited............................................................... 289
Goodyear India Limited....................................................................... 409
Diamond Power Infrastructure Limited............................................... 327
Granules India Limited........................................................................ 300
Divis Laboratories Limited.................................................................. 296
Graphite India Limited......................................................................... 209
DLF Limited.......................................................................................... 333
Grasim Industries Limited.................................................................... 379
Dr. Reddys Laboratories Limited......................................................... 293
The Great Eastern Shipping Company Limited.................................... 345
E Greaves Cotton Limited....................................................................... 129
E.I.D.-Parry (India) Limited................................................................... 367 Greenply Industries Limited................................................................ 413
Eicher Motors Limited........................................................................... 20 Grindwell Norton Limited.................................................................... 422
EIH Limited.......................................................................................... 215 GRUH Finance Limited......................................................................... 158

INDEX
Gujarat Alkalies and Chemicals Limited................................................. 71 IFCI Limited.......................................................................................... 153

Gujarat Ambuja Exports Limited......................................................... 176 IL&FS Transportation Networks Limited................................................ 93
Gujarat Fluorochemicals Limited........................................................... 72 The India Cements Limited.................................................................... 62
Gujarat Gas Limited............................................................................. 189 India Glycols Limited............................................................................. 70
Gujarat Industries Power Company Limited........................................ 321 Indiabulls Housing Finance Limited..................................................... 148
Gujarat Mineral Development Corporation Limited.............................. 85 Indian Bank............................................................................................ 37
Gujarat Narmada Valley Fertilizers & Chemicals Limited.................... 137 The Indian Hotels Company Limited................................................... 215
Gujarat State Fertilizers & Chemicals Limited...................................... 137 The Indian Hume Pipe Company Limited............................................ 423
Gujarat State Petronet Limited............................................................ 190 Indian Metals and Ferro Alloys Limited............................................... 222
Gulf Oil Lubricants India Limited..................................................... 362 Indian Oil Corporation Limited............................................................ 257
H
Indian Overseas Bank............................................................................ 34
Indo Count Industries Limited............................................................. 384
Hatsun Agro Product Limited.............................................................. 175 Indo Rama Synthetics (India) Limited.................................................. 381
Havells India Limited........................................................................... 115 Indraprastha Gas Limited.................................................................... 190
HBL Power Systems Limited.................................................................. 49 IndusInd Bank Limited........................................................................... 39
HCL Technologies Limited.................................................................... 352 INEOS Styrolution India Limited.......................................................... 312
HDFC Bank Limited................................................................................ 31 Infosys Limited..................................................................................... 351
HEG Limited......................................................................................... 209 Inox Leisure Limited............................................................................ 233
HeidelbergCement India Limited........................................................... 64 Insecticides (India) Limited...................................................................... 5
Heritage Foods Limited....................................................................... 176 Ipca Laboratories Limited.................................................................... 296
Hero MotoCorp Limited........................................................................ 19 IRB Infrastructure Developers Limited.................................................. 95
Hexaware Technologies Limited.......................................................... 356 Isgec Heavy Engineering Limited......................................................... 127
HIL Limited............................................................................................ 65 ITC Limited............................................................................................. 81
Himachal Futuristic Communications Limited...........................418-419 ITD Cementation India Limited.............................................................. 97
Himadri Chemicals & Industries Limited............................................... 72
Himatsingka Seide Limited.................................................................. 387 J
Hindalco Industries Limited................................................................. 251 J. Kumar Infraprojects Limited............................................................... 97
Hinduja Global Solutions Limited........................................................ 356 J. B. Chemicals & Pharmaceuticals Limited......................................... 301
Hindustan Construction Company Limited............................................ 93 J.K. Cement Limited............................................................................... 63
Hindustan Copper Limited................................................................... 252 Jagran Prakashan Limited.................................................................... 232
Hindustan Petroleum Corporation Limited......................................... 258 Jain Irrigation Systems Limited ........................................................... 307
Hindustan Unilever Limited................................................................. 163 Jaiprakash Power Ventures Limited..................................................... 320
Hindustan Zinc Limited........................................................................ 251 The Jammu and Kashmir Bank Limited.................................................. 42
Hitachi Home and Life Solutions (India) Limited................................. 103 Jamna Auto Industries Limited.............................................................. 15
Honeywell Automation India Limited.................................................. 116 Jay Bharat Maruti Limited..................................................................... 13
Housing Development Finance Corpn. Limited................................... 145 Jayaswal Neco Industries Limited........................................................ 220
HSIL Limited......................................................................................... 203 JBF Industries Limited.......................................................................... 289
HT Media Limited................................................................................ 232 Jindal Poly Films Limited...................................................................... 270
Huhtamaki PPL Limited....................................................................... 271 Jindal Saw Limited............................................................................... 237
JK Lakshmi Cement Limited................................................................... 64
I JK Paper Limited.................................................................................. 283
I G Petrochemicals Limited.................................................................... 73 JK Tyre & Industries Limited................................................................ 407
ICICI Bank Limited.................................................................................. 31 JMC Projects (India) Limited.................................................................. 95
IDBI Bank Limited.................................................................................. 34 JSW Energy Limited............................................................................. 320
Idea Cellular Limited............................................................................ 373 JSW Steel Limited................................................................................ 219
IDFC Limited........................................................................................ 148 Jubilant FoodWorks Limited................................................................ 420
IFB Industries Limited.......................................................................... 104 Jubilant Life Sciences Limited.............................................................. 295

INDEX
JVL Agro Industries Limited................................................................. 174 Mangalore Chemicals and Fertilizers Limited...................................... 138
Jyothy Laboratories Limited................................................................ 165 Mangalore Refinery and Petrochemicals Limited................................ 258
K Marico Limited.................................................................................... 163

Maruti Suzuki India Limited................................................................... 25
K.P.R. Mill Limited................................................................................ 382
MBL Infrastructures Limited.................................................................. 96
Kajaria Ceramics Limited..................................................................... 203
Mcleod Russel India Limited................................................................ 178
Kalpataru Power Transmission Limited............................................... 326
McNally Bharat Engineering Company Limited................................... 128
Kalyani Steels Limited.......................................................................... 223
Meghmani Organics Limited.................................................................... 4
Kansai Nerolac Paints Limited............................................................. 277
Minda Industries Limited...................................................................... 12
The Karnataka Bank Limited.................................................................. 43
Mindtree Limited................................................................................. 353
The Karur Vysya Bank Limited............................................................... 42
Kaveri Seed Company Limited............................................................. 422 MMTC Limited..................................................................................... 393
KEC International Limited.................................................................... 326 MOIL Limited....................................................................................... 247

KEI Industries Limited.......................................................................... 116 Motherson Sumi Systems Limited........................................................... 9
Kirloskar Brothers Limited................................................................... 130 Mphasis Limited.................................................................................. 353
Kirloskar Ferrous Industries Limited.................................................... 222 MRF Limited........................................................................................ 407
Kirloskar Oil Engines Limited............................................................... 127 Munjal Showa Limited........................................................................... 11
Kkalpana Industries (India) Limited..................................................... 311 Muthoot Finance Limited.................................................................... 152
Kohinoor Foods Limited...................................................................... 178
Kotak Mahindra Bank Limited............................................................... 39
N
Kothari Products Limited..................................................................... 394 Nahar Industrial Enterprises Limited................................................... 383
KPIT Technologies Limited................................................................... 355 Nahar Spinning Mills Limited............................................................... 382

KRBL Limited........................................................................................ 174 Nandan Denim Limited........................................................................ 387
Kwality Limited.........................................................................172-173 National Aluminium Company Limited............................................... 251
National Buildings Construction Corporation Limited........................... 93
L National Fertilizers Limited.................................................................. 136
L.G. Balakrishnan & Bros Limited.......................................................... 15 Nava Bharat Ventures Limited............................................................. 223
Lakshmi Machine Works Limited......................................................... 128 Navneet Education Limited................................................................. 424
The Lakshmi Vilas Bank Limited............................................................ 43
NCC Limited................................................................................. 90-91
Larsen & Toubro Limited....................................................................... 89
Nectar Lifesciences Limited................................................................. 299
LIC Housing Finance Limited.....................................................146-147
Nestl India Limited............................................................................. 170
Linde India Limited................................................................................ 71
Neyveli Lignite Corporation Limited.................................................... 319
Lloyd Electric & Engineering Limited................................................... 102
NHPC Limited...................................................................................... 319
Loyal Textile Mills Limited.................................................................... 385
NIIT Technologies Limited................................................................... 355
LT Foods Limited.................................................................................. 176
Nilkamal Limited.................................................................................. 310
Lumax Industries Limited...................................................................... 14
NMDC Limited..................................................................................... 247
Lupin Limited....................................................................................... 293
Novartis India Limited......................................................................... 302
M NTPC Limited....................................................................................... 317
O
Mafatlal Industries Limited.................................................................. 387
Magma Fincorp Limited....................................................................... 154
Maharashtra Seamless Limited........................................................... 239 OCL India Limited.................................................................................. 64
Mahindra & Mahindra Financial Services Limited........................... 151 Oil and Natural Gas Corporation Limited............................................ 263
Mahindra & Mahindra Limited.............................................................. 25 Oil India Limited.................................................................................. 263
Mahindra CIE Automotive Limited........................................................ 11 Omax Autos Limited.............................................................................. 15
Man Industries (India) Limited............................................................ 239 Omaxe Limited.................................................................................... 335
Manappuram Finance Limited............................................................ 154 Oracle Financial Services Software Limited......................................... 352
Mandhana Industries Limited............................................................. 383 Orient Cement Limited.......................................................................... 65

INDEX
Orient Paper & Industries Limited....................................................... 103 Ruchi Soya Industries Limited......................................................... 169
Oriental Bank of Commerce.................................................................. 35 Rupa & Company Limited.................................................................... 388
P Rural Electrification Corporation Limited............................................ 145
Page Industries Limited....................................................................... 384 S

Patel Engineering Limited...................................................................... 94 Sadbhav Engineering Limited................................................................ 94
PC Jeweller Limited..................................................................196-197 Sangam (India) Limited........................................................................ 385
Persistent Systems Limited.................................................................. 355 Sanofi India Limited............................................................................. 298
Petronet LNG Limited.......................................................................... 189 Sanwaria Agro Oils Limited.................................................................. 175
Pfizer Limited....................................................................................... 299 Sarda Energy & Minerals Limited........................................................ 222
Phillips Carbon Black Limited.............................................................. 420 Savita Oil Technologies Limited........................................................... 361
PI Industries Limited................................................................................ 3 Seshasayee Paper and Boards Limited................................................ 284
Pidilite Industries Limited...................................................................... 69 Shasun Pharmaceuticals Limited......................................................... 300
Piramal Enterprises Limited................................................................. 297 Shilpi Cable Technologies Limited.............................................118-119
Polaris Consulting & Services Limited................................................. 354 The Shipping Corporation of India Limited.......................................... 345
Polyplex Corporation Limited.............................................................. 271 Shirpur Gold Refinery Limited............................................................. 252
Power Finance Corporation Limited.................................................... 145 Shoppers Stop Limited........................................................................ 339
Power Grid Corporation of India Limited............................................ 317 Shree Cement Limited........................................................................... 62
Pratibha Industries Limited................................................................... 94 Shree Renuka Sugars Limited.............................................................. 367
Prestige Estates Projects Limited......................................................... 333 Shrenuj & Co. Limited.......................................................................... 198
Procter & Gamble Hygiene and Health Care Limited.......................... 164 Shriram City Union Finance Limited.................................................... 153
PTC India Limited................................................................................. 317 Shriram Transport Finance Company Limited..................................... 148
Punj Lloyd Limited............................................................................... 125 Siemens Limited.................................................................................. 125
Punjab & Sind Bank............................................................................... 41 Simplex Infrastructures Limited............................................................. 92
Punjab National Bank............................................................................ 32 Sintex Industries Limited..................................................................... 310
Puravankara Projects Limited.............................................................. 334 Siyaram Silk Mills Limited.................................................................... 385
PVR Limited......................................................................................... 232 SJVN Limited........................................................................................ 321
SKF India Limited ........................................................................ 54-55
R Skipper Limited.............................................................................. 240
Radico Khaitan Limited........................................................................ 227 SML Isuzu Limited.................................................................................. 27
Rajesh Exports Limited........................................................................ 195 Sobha Limited...................................................................................... 333
Rallis India Limited.................................................................................. 4 Solar Industries India Limited.............................................................. 423
The Ramco Cements Limited................................................................. 63 Somany Ceramics Limited................................................................... 204
Rashtriya Chemicals and Fertilizers Limited........................................ 136 Sona Koyo Steering Systems Limited..................................................... 14
Ratnamani Metals & Tubes Limited..................................................... 238 The South Indian Bank Limited.............................................................. 42
Raymond Limited................................................................................ 381 SPML Infra Limited................................................................................ 96
Redington (India) Limited.................................................................... 417 Srei Infrastructure Finance Limited..................................................... 155
Relaxo Footwears Limited............................................................... 184 SRF Limited.......................................................................................... 380
Reliance Capital Limited...................................................................... 152 Srikalahasthi Pipes Limited.................................................................. 241
Reliance Communications Limited...................................................... 373 SRS Limited.......................................................................................... 198
Reliance Industries Limited................................................................. 257 State Bank of Bikaner & Jaipur.............................................................. 40
Reliance Infrastructure Limited........................................................... 318 State Bank of India................................................................................ 31
Renaissance Jewellery Limited............................................................ 199 State Bank of Mysore............................................................................ 41
Responsive Industries Limited............................................................. 311 State Bank of Travancore....................................................................... 40
Rolta India Limited............................................................................... 354 The State Trading Corporation of India Limited................................... 393
RSWM Limited..................................................................................... 381 Steel Authority of India Limited.......................................................... 219
Ruchi Infrastructure Limited................................................................ 178 Steel Exchange India Limited............................................................... 221

INDEX
Steel Strips Wheels Limited................................................................... 14

Sterlite Technologies Limited.............................................................. 327
U
UCO Bank.............................................................................................. 36
Strides Shasun Limited........................................................................ 301
Uflex Limited............................................................................268-269
Subros Limited....................................................................................... 13
UltraTech Cement Limited..................................................................... 61
Sudarshan Chemical Industries Limited................................................ 73
Unichem Laboratories Limited............................................................ 300
Sun Pharmaceutical Industries Limited............................................... 294
Union Bank of India............................................................................... 33
Sun TV Network Limited...................................................................... 231
United Bank of India.............................................................................. 39
Sundaram Finance Limited.................................................................. 154
United Breweries Limited.................................................................... 227
Sundaram-Clayton Limited.................................................................... 12
United Spirits Limited.......................................................................... 227
Sundram Fasteners Limited................................................................... 10 UPL Limited............................................................................................. 3
Sunflag Iron and Steel Company Limited............................................. 221 Usha Martin Limited............................................................................ 220
Sunil Hitech Engineers Limited............................................................ 129 Ushdev International Limited.............................................................. 394
The Supreme Industries Limited...............................................308-309 Usher Agro Limited.............................................................................. 177
Supreme Infrastructure India Limited................................................... 96 Uttam Galva Steels Limited................................................................. 220
Supreme Petrochem Limited............................................................... 289
Surya Roshni Limited........................................................................... 237 V
Sutlej Textiles and Industries Limited.................................................. 383 VA Tech Wabag Limited....................................................................... 130
Syndicate Bank...................................................................................... 35 Vakrangee Limited............................................................................... 353
Vardhman Textiles Limited.................................................................. 379
T Vedanta Limited.................................................................................. 247
Tamil Nadu Newsprint and Papers Limited......................................... 283 Venkys (India) Limited........................................................................ 177
Tara Jewels Limited.............................................................................. 199 V-Guard Industries Limited.................................................................. 117
Tata Chemicals Limited........................................................................ 135 Videocon Industries Limited................................................................ 101
Tata Communications Limited............................................................. 374 Vijaya Bank...................................................................................... 38
Tata Consultancy Services Limited....................................................... 351 VIP Industries Limited.......................................................................... 422
Tata Global Beverages Limited............................................................ 175 Visaka Industries Limited..................................................................... 423
Tata Metaliks Limited.......................................................................... 223 Voltas Limited...................................................................................... 101
Tata Motors Limited.............................................................................. 25
The Tata Power Company Limited....................................................... 319
W
WABCO India Limited............................................................................ 12
Tata Steel Limited................................................................................ 219
Welspun Corp Limited......................................................................... 237
Tech Mahindra Limited........................................................................ 352
Welspun India Limited......................................................................... 380
Thangamayil Jewellery Limited........................................................... 199
The West Coast Paper Mills Limited.................................................... 283
Thermax Limited.................................................................................. 126 Wheels India Limited............................................................................. 10
Tide Water Oil Co. (India) Limited....................................................... 363 Whirlpool of India Limited................................................................... 102
Time Technoplast Limited.................................................................... 270 Wipro Limited...................................................................................... 351
Titan Company Limited....................................................................... 195 Wockhardt Limited.............................................................................. 297
Torrent Pharmaceuticals Limited......................................................... 295
Torrent Power Limited......................................................................... 318 Y
Transport Corporation of India Limited............................................... 402 Yes Bank Limited.................................................................................... 37
Trent Limited....................................................................................... 340
Tribhovandas Bhimji Zaveri Limited..................................................... 198
Z
Zee Entertainment Enterprises Limited............................................... 231
Trident Limited.................................................................................... 380
Zensar Technologies Limited............................................................... 356
TTK Prestige Limited............................................................................ 103
Zuari Agro Chemicals Limited.............................................................. 136
Tube Investments of India Limited........................................................ 10
TVS Motor Company Limited................................................................ 19
TVS Srichakra Limited.......................................................................... 408 Note: Companies marked in bold are Advertorials

Notes
Notes

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Editor Pawan Bindal

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Indias Top 500 Companies 2016

Foreword ............................................................................................................ III

executive summary .............................................................................................V

Definitions & Calculations ..................................................................................XI

Changing Face of Top 500 Companies........................................................................... XXVII

Overview of Top 500 Companies................................................................................. XXXIX

Corporate Awards 2016...................................................................................... LV

Journey of an Enterprise.............................................................................. J1-J11

Top 500 Company Rankings . ...................................................................... L1-L55

Profiles of the Top 500 Companies ...............................................................1-416

INDIAS TOP 500 COMPANIES I

I look forward to receiving your valuable feedback and suggestions.

INDIAS TOP 500 COMPANIES III

Dear friends, thank you for your support

/Altran India /Altran India .com/co.in

Following are some of the key highlights from the publication:

INDIAS TOP 500 COMPANIES V

VIII INDIAS TOP 500 COMPANIES

Hotels Management and operation of hotels providing accommodation

Liquor Manufacturing and distribution of all types of alcoholic beverages

Others Companies with businesses/products not classified in any of the mentioned

Packaging and Allied Activities Manufacturing and distribution of packaging material.

Paints Manufacturing and distribution of paints

Pharmaceuticals Manufacturing and distribution of over-the-counter & prescription drugs and

Power Companies engaged in generation, transmission and distribution of

Power Equipments Manufacturing of equipments related to management of electrical energy and

Real Estate Construction and development of residential and commercial infrastructure

Retail Sale of goods using multi-brand retail outlets

Shipping Water transport services for commercial purposes

Sugar Manufacturing and distribution of sugar

Trading Companies engaged in trading activities of goods

Tyres Manufacturing and distribution of tyres for automotive industry

INDIAS TOP 500 COMPANIES IX

Banking Indicators and Ratios

XII INDIAS TOP 500 COMPANIES

INDIAS TOP 500 COMPANIES XIII

Dear friends, thank you for your support

INDIAS TOP 500 COMPANIES XVIII

Money & Finance

INDIAS TOP 500 COMPANIES XIX

Aggregate Financial Indicators of Top 500 Companies over five editions

Total Income Average Mkt Cap PAT Linear (PAT)

Source: Dun & Bradstreet Research

Increasing Prominence of Private Sector Companies

INDIAS TOP 500 COMPANIES XXVIII

Contribution to Aggregates Public Sector vs Private Sector

Public Sector Private Sector

Gradual Progression of Small Cap Companies to Mid and Large Cap

INDIAS TOP 500 COMPANIES XXIX

Market cap-wise Composition

Small cap Mid cap Large cap

Source: Dun & Bradstreet Research

Healthy Growth in Market Capitalisation of Top 500 Companies

Average Market Cap to GDP

Average Market Cap (Rs bn) Share in India's GDP (%)

Source: Dun & Bradstreet Research, RBI, BSE

INDIAS TOP 500 COMPANIES XXX