Financial Express 500

2 THE FINANCIAL EXPRESS | MARCH 2009

T H E L E A D E R S

RIL

Setting the globalbenchmark �� Page 10

NTPCNetworking to augment potential

� Page 13

ONGCGuarding

national interests

� Page 12

RA

NK

3

RA

NK

2

Bharti AirtelLeading the way intouching lives

� Page 16

IOCStorming ahead in

troubled waters

� Page 14

RA

NK

5

RA

NK

4

RCOMConnect with the future

� Page 18

SAILOptimising

capacity

� Page 17

RA

NK

7

RA

NK

6

BPCLFuelling India’sgrowth

� Page 21

TATA STEELPlenty of sheen on

world stage� Page 20

RA

NK

9

RA

NK

8

L&TOn terra firma andprogressing forward

� Page 24

BHELSetting milestones

for achievement � Page 22

RA

NK

11

RA

NK

10

ITCGains from dynamismand diversification

� Page 26

InfosysGrowing from

strength to strength� Page 25

RA

NK

13

RA

NK

12

WIPROLooking beyondbusiness into life

� Page 28

GAIL(I)Moving forward

through innovation

� Page 27

RA

NK

15

RA

NK

14

RA

NK

1

EditorialRural India beckons India Inc

� PPaaggee 44

Overall PerformanceA plateau after accelerated growth

� PPaaggee 66--99

The FE-500How India’s top 500 companies

fared in 2007-08 in terms ofcomposite rankings, net sales, total

assets, gross profit, net worth,market capitalisation, return

on net worth, return on assets, and return on sales

� PPaaggee 3300 -- 5511

Under the lensA comparison of India’s top

performing companies grouped byindustry. The section contains total

income, net profit, retained profit, forex earnings, forex expenditure,

and debt-equity ratios� PPaaggee 5522 -- 6688

Profits & ProfitabilityEarnings grow faster than topline

� PPaaggee 7700--7711

Ranks in Alphabetical Order� PPaaggee 7722--8811

Nine Months Performanceof Top 100

� PPaaggee 8822--8833

Methodology, Caveats & LimitationsHow we did it

� PPaaggee 8844--8855

Crystal GrazingShaping up in slowdown times

� PPaaggee 8866--8877

The Market’s VerdictDepletion of wealth

� PPaaggee 8888

I N S I D E

fe500 contents500 contents


WHEN fe500 had decided to use revenue and not market capitalisation as the key marker for corporate performance, this was not a fashionable

decision. Market cap was the favourite criterion of all analyses. Allow us to saythat 2008’s stock market bloodbath showed how puzzling market cap can be as asubstantive indicator.

Market cap is important. But when markets are responding to global fear anduncertainty, their verdict on a company can be bemusing. Revenue, on the otherhand, reflects the rewards of a company’s real business activities and can giveyou a good idea of a company’s performance even the day after LehmannBrothers dies.

So, this edition of fe500 has a special significance—many of the corporatespresent here may have taken a market cap battering. But they can still be judgedand found to have solid attributes.

The study, covering 2007-08, shows how the impact of the slowdown had begunto set in. Profitability, especially of larger companies, remained high. However,the sales growth at 17% was much lower than the 28% recorded in 2006-07.

The fe500 also profiles the top 15 companies in our list. There are a few notabletrends. Reliance Communication debuts on fe500—another indication of how bigthe telecom story can become. And Bharti Airtel pushes established companieslike L&T out of the top 10. Most of the other big ones continue to hold their place.But interestingly, the only FMCG firm to feature in the list is ITC. The companyhas, over the years, diversified and invested a great deal in the Indian ruralsector. The rewards have just about started to come in.

There’s a bigger lesson here. As 2008-09 ends with evidence of dampenedurban demand, the focus is on rural demand, which seems to be in healthy shape.The aam aadmi could be India Inc’s biggest friend in a slowdown.

SHEKHAR GUPTA

Rural India beckonsIndia Inc

A FINANCIAL EXPRESS RESEARCH BUREAU PROJECT

CHAIRMAN OF THE BOARDViveck Goenka

GROUP EDITOR-IN-CHIEFShekhar Gupta

PROJECT CO-ORDINATORAkash Joshi

RESEARCH EDITORPradip Kumar Dey

EDITORIAL MG Arun, Rishi Raj, Anandita Singh Mankotia,

Arun S, Shaheen Mansuri, Mona Mehta, Smita Joshi Saha, Rachana Khanzode

DESKAAyyeesshhaa DDoommiinniiccaa SSiinngghh

RESEARCH REPORTSujith Pillai, Sandeep Nalge, Tara Boi

COVER DESIGNManoj Bhramar & Anirban Bora

DESIGN TEAMPL Santosh, MP Singh, Asit Bagchi,

Gopakumar Warrier, Rajeshkumar Menon

MARKETING CO-ORDINATORSBharat Punjani, Milind Godave,

Kannan Venkatraman, Amit Shrivastava, UK Sharma, Vijay Kak, Pradeep Sharma,

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Buddha Reddy, Sushmita, BR Mohan Reddy, T Shankar

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fe500 editorial500 editorial

Pradip Kumar Dey

AFTER a sparkling performancein 2006-07, the Indian corporatesector showed a slight dull

moment in its performance during2007-08. Rising cost of raw materialsand energy cost placed some obstaclesin their growth path.

Speeding ahead at a rate of 17.69%,the FE 500’s net sales reached a high ofRs 19.32 lakh crore. Though, in compar-ison with 2006-07, the sales growth wassignificantly low. The FE 500’s salesgrowth was 28.02% in the year 2006-07.

The top ten, in terms of compositeranks, seemed slightly slower thanthe FE 500 as a whole. Their salesgrowth, at 15.20%, was lower than theoverall FE 500, which recorded a col-lective growth of 17.69%. In absoluteterms also, the top ten ended 2007-08with a lower record: their aggregatesales as a percentage of the totalFE 500 saw a marginal decreasefrom 36.26% in the year before to35.49% in 2007-08.

Barring Larsen & Toubro, all theother nine who graced the superleague in 2006-07, also showed up inthe next year. Larsen & Toubro, thetop tenner of 2006-07 was edged outby BPCL in 2007-08. At the top spot in2007-08 was Reliance Industries. Inthe slot just behind it was stable-mate ONGC; the third runner-upwas NTPC.

The other seven top tenners, indescending order of their compos-ite ranks were: Indian Oil Corp,Bharti Airtel, SAIL, RelianceCommunications, Tata Steel, BPCLand BHEL.

Within the top ten group someshifting of positions has takenplace. Thus, Bharti Airtel, sixth in

2006-07, moved up to the fifth positionand Sail lost the position from fifth tothe sixth. BHEL lost ground anddeclined, from the eighth to the tenth.

The FE 500, clubbed in five groups-the first 100, the second 100, the third100, fourth 100 and the rest were neckto neck. So, comparisons, if any, havetobemadewithintheFE500.Asagainstan overall sales growth rate of 17.69%for the 500 as a group, the sub-groupsof 100 each recorded growth rates of16.75, 20.01, 23.78,18.24 and 19.34%respectively during 2007-08. The top 100group (according to composite rank-ings) saw seven new companies makingan entry in 2007-08.The highest rate ofrise in net sales in the first set wasrecordedbyDLF(388.13%),LancoInfra-tech (190.68%), Punj Lloyd (99.79%),HDIL (97.75%), Sesa Goa (76.45%) andSiemens (71.78%).

The laggards in the top 100 were

National Aluminium (-15.64%), TataCommunication (-12.36%), Dr ReddysLab (-11.53%), Ambuja Cements(-8.78%), Hindustan Zinc (-7.97%)Moser Baer (-6%) and MTNL (-3.81%).

Around 11 companies in the firstgroup of 100 recorded more than a 50%increase in net sales in 2007-08. The sec-ond set of 100 companies grew at20.01%, higher than the FE 500’s aver-age. Their combined net sales increas-ed from Rs 1.86 lakh crore (on anannualised basis) in 2006-07 to Rs 2.23lakh crore in 2007-08. The second setsaw many changes, but the more note-worthy among them were the 16 newentrants from the lower ranks in 2007-08.The highest rate of rise in net saleswas recorded by Era Infra Engineering(91.93%), followed by KS Oils (90.93%)and Omaxe ( 90.20%).

Among the poor performers in thisgroup was Ballarpur Inds (-56.1%).

Compared to the first two, the thirdgroup of 100 companies did performwell in terms of net sales growth.Aggregate net sales of the set in-creased by 23.78% from Rs 97,484crore in 2006-07 to Rs 1,20,665 crorein 2007-08. In terms of individualperformance, eight companies re-corded declines in the third set.Of them, Fert & Chem. Travancore(-41.15%), followed by BannariAmman Sugar (-17.65%), ShreeRenuka Sugars (-6.90%) and OCL(-5.44%). Hind National Glass(98.14%), Koutons Retail (I)(97.18%), BGR Energy Systems(94.14%), BL Kashyap & Sons(90.91%), Bombay Rayon (89.24%),Consolidated Const Consortium(70.43%) and Nava Bharat Ventures(61.88%) were among those register-ing significant sales growth.

There were 23 new members in

A plateau afteraccelerated growthWith higher GDP growth, the FE-500 registered an18% sales surge in 2007-08


fe500 overallperformance500 overallperformance


the set in 2007-08. Not all the new mem-bers however, have any cause for jubila-tion. As many as nine of them arerejects from the second set, includingsuch big names like JK Cement, ShreePrecoated Steels, Matrix Laboratories,JK Tyre Industries and KingfisherAirlines. And 14 others, which were inthe fourth set in 2006-07, entered thethird set of companies in 2007-08.Mentionmaybemadeof HindNationalGlass, Gulf Oil Corp., ChettinadCement Corp., Ramsarup Indus-tries, Koutons Retail (I), Elec-trotherm (I) and MindTree.

The fourth set of 100 companiesregisteredthelowestgrowthinsalescompared to the second and thirdset, indicating that at the bottom ofthe corporate heap, there is seriouslack of enterprise. The fourth groupof companies grew at 18.24%, andtheir combined net sales increasedfrom Rs 74,114 crore (on an annu-alised basis) in 2006-07 to Rs 87,629crore in 2007-08. The highest rate ofrise in net sales was recorded bySanwaria Agro Oil (110.60%), fol-lowed by ICSA(I) (101.72%), Spicejet(101.15%), HBL Power System(89.02%), Godavari Power&Ispat(88.81%), Amara Raja Batteries(82.69%), Ankur Drugs (80.41%) andBharati Shipyard (78.27%).

Most interesting part of the FE

500 is the sales growth of fifth and finalset of 100 companies. The fifth group ofcompanies grew at 19.34%, which ishigher than first hundred and fourthhundred groups and their combinednet sales increased from Rs 53,980 crorein 2006-07 to Rs 64,418 crore in 2007-08.

Looking at the FE 500 as a whole,it is obvious that individual perfor-mance was substantially determinedbythefortunesof theindustryinwhichthey operated. The fastest growing

industries in 2007-08 were dry cells,steel-sponge iron, construction, retail-ing, glass and glass products, shipbreaking and repairing, steel-pig iron,solvent extractions, engineering andair conditioning.

The slowest growing industrieswere aluminium and products, textiles-processing, cycles and accessories,packaging, biotech, tea, pharmaceuti-cal-multinationals, automobiles LCVs,HCVs and passenger cars, computers-

hardware and compressors/ drill-ing equipment. Given the perkyoverall growth rate of 17.69% for theFE 500, asset growth was signi-ficantly higher than the salesgrowth. The combined total assetsof the FE 500 (according to sales)rose by 28.17% from Rs 16.90 lakhcrore in 2006-07 to Rs 21.66 lakh crorein 2007-08.

While building assets, the FE 500were more concerned about profits.Gross profits grew higher thansales. The total gross profits of theFE 500 rose from Rs 2.78 lakh crore(onanannualisedbasis)in2006-07toRs3.34lakhcrorein2007-08;a20.14%jump. The top 10 of the FE 500accounted for a major share of thebooty(Rs1.31lakhcrore), leavingRs2.03 lakh crore to be divided upamong the remaining 490.

ONGC, the numero uno profit-

fe500 overallperformance500 overallperformance

maker of the year, notched up grossprofits of Rs 35,381 crore, a 6.95% in-crease from Rs 33,083 crore in the previ-ous year. The other nine companies inthe top ten list in terms of gross profitswere Reliance Industries (Rs 27,810crore), Indian Oil Corp (Rs 12,761crore),SAIL(Rs12,674crore),NTPC(Rs12,158 crore), Bharti Airtel (Rs 10,126crore), Tata Steel (Rs 7,882 crore),Hindustan Zinc (Rs 6,283 crore),TCS(Rs 5,789 crore) and Infosys Techno-logies (Rs 5,646 crore).

Reliance Industries topped interms of net worth during 2007-08, itraised net worth to Rs 79,766 crore, a24.70% rise from Rs 63,967 crore inthe previous year. The other com-panies in the Top 10 list in terms ofnet worth were ONGC (Rs 70,617crore), NTPC (Rs 52,638 crore),Indian Oil Corp (Rs 41,086 crore),Tata Steel (Rs 27,300 crore), RelianceCommunications (Rs 24,840 crore),Sail (Rs 23,063 crore), Bharti Airtel(Rs 20,241 crore), Hindalco Inds(Rs 17,296 crore) and Power GridCorp (Rs 13,507 crore).

The aggregate net worth of theFE 500 increased by 28.48% fromRs7.74lakhcrorein2006-07toRs9.95lakh crore in 2007-08. Four compa-nies, namely Tata Teleservices(Mah), Lloyds Steel, Spic and BalajiDistillerieshadanegativenetworth

in absolute terms.As for market capitalisation, perfor-

mance was dismal, the aggregate mar-ket capitalisation of the FE 500corporates decreased by 47.41% fromRs42.29lakhcroreasJanuary30,2008toRs 22.24 lakh crore as on 30 January2009.The highest decline in market cap-italisation among the FE 500 compa-nieswaswitnessedinthecaseof VishalRetail (-92.62%), Unitech (-91.67%),Madhucon Projects (-91.38%), ABG

Shipyard (-90.66%), Bharati Shipyard(-90.16%), BL Kashyap&Sons(-89.96%),Shree Precoated Steel(-89.8%), AnsalProp.&Infra (-89.44%) and SubhashProjects (-89.08%).

In contrast, 18 companies showedan increase in market capitalisationduring the study period. Mention maybe made of GlaxoSmithkline Pharma(36.09%), Hindustan Unilever (31.18%),HeroHondaMotors(27.90%),Castrol(I)(23.32%), Jindal Poly Film (19.91%),

Kajaria Ceramics (17.16%) andHPCL (14.31%).

The top 10 in terms of marketcapitalisation in 2007-08 were Re-liance Industries (Rs 2,08,719 crore),NTPC (Rs 1,56,251 crore), ONGC (Rs1,40,780 crore), Bharti Airtel (Rs1,20,320 crore), Infosys Technolo-gies (Rs 74,758 crore), MMTC (Rs72,412 crore), ITC (Rs 67,801 crore),NMDC (Rs 66,032 crore), BHEL (Rs64,638 crore) and HindustanUnilever (Rs 56,937 crore).

The market capitalisation ofthe top 10 companies (in terms ofcomposite rank) decreased by36.95% to Rs 8.41 lakh crore onJanuary 30, 2009 from Rs 13.34 lakhcrore on January 30, 2008. The shareof top 10 market capitalisation inthe FE 500 increased from 31.54% onJanuary 30, 2008 to 37.81% onJanuary 30, 2009.

MARCH 2009 | THE FINANCIAL EXPRESS | 9


Shaheen Mansuri

BEGINNING as a small textile com-pany, Reliance Industries Limited(RIL) has crossed several mile-

stones to become India’s largest privatesector company, with businesses in theenergy and materials value chain. Thegroup’s annual revenues are today inexcess of Rs 1,76,800 crore ($34 billion).RIL is a Fortune Global 500 company.RIL’s net profit for the financial yearendedMarch2008stoodatRs19,458crore,an increase of 63% as compared to Rs11,943 crore in fiscal 2007. It also posted aturnover of Rs 1,39,269 crore for fiscal2008, an 18% increase.

Starting with textiles, Reliance pur-suedastrategyof backwardverticalinte-gration—in polyester, fibre intermedia-tes, plastics, petrochemicals, petroleumrefining and oil and gas exploration andproduction—to be fully integrated alongthe materials and energy value chain.

The group’s activities span explo-ration and production of oil and gas,petroleumrefiningandmarketing,petro-chemicals (polyester, fibre intermedi-ates, plastics and chemicals), textiles,retail and special economic zones.Reliance enjoys global leadership in itsbusinesses, being the largest polyesteryarn and fibre producer in the world andamong the top five to ten producers in theworld in major petrochemical products.

RIL is likely to begin gas productionfrom the Krishna-Godavari basin by mid-April. K-G basin in the Bay of Bengal toJamnagar in Gujarat, where it has set upthe world’s largest petroleum refineryand has a capacity of 33 million tones perannum. Reliance’s manufacturing divi-sion at Naroda, Ahmedabad is one of thelargest and most modern textile com-plexes in the world. The company’s flag-ship brand ‘Vimal’ is one of the mosttrustedbrandsof premiumtextilesinthecountry. Apart from being a major sup-plier of fabrics with all the leading USand European brands, Reliance proposesto enter into garment supplies, ensuringa one point solution for their needs. Thetextile division has achieved a major

breakthrough in the domestic andAmerican automotive markets aimed atobtaining a foothold in the world’s auto-textile segment, currently worth $ 5 bil-lion. The manufacturing facility atNaroda, Ahmedabad has completed itsmodernisation and upgradation.

Reliance Retail Limited (RRL), a sub-sidiary of RIL, was set up to lead RelianceGroup’s foray into organised retail. RRLhas embarked upon an implementationplan to build state-of-the-art retail infra-structure in India, which includes amulti-format store strategy of openingneighbourhood convenience stores,hypermarkets, specialty and wholesalestores across India.

While falling demand for fuel and lo-wer gains from processing crude oil hascaused a slump in profits, RIL managed toprevent a drastic profit fall by posting bet-ter gross refining margins (GRMs). Forthethirdquarterforthecurrentfinancialyear,RILhadpostedanetprofitdipof 10%to Rs 3,501 crore (excluding exceptionalitems), compared to Rs 3,882 crore in Q3 ofthe previous year. GRMs did not fall asmuchasfeared,droppingto$10perbarrelagainst $15.4 per barrel on a year-on-yearbasis. RIL’s GRM in the quarter washigher by $6.4 per barrel than the bench-mark Singapore Complex GRM.

Mukesh Ambani, CMD, RIL had said,“This was one of the most challengingquarters with volatility in prices andmargins. Producers and consumers arecoming to terms with slower global tradeand economic outlook. Reliance per-formed commendably with high operat-ing rates. We reached an important markin the start up of the RPL refinery.”

In February 2009, RIL merged with itsrefining subsidiary Reliance PetroleumLimited (RPL) and offered a swap ratioof 1:16. RIL will issue 69.2 million newshares to shareholders of RPL in orderto buy back the company and will have3.7 million shareholders after themerger.RIL’sequitycapitalwillrisetoRs1,643 crore and the promoter’s holdingswill fall by 2%. With the merger, RILbecomes the world’s fifth largest poly-propylene producer.

Setting the globalbenchmark

RIL5 COMPOSITE RANK 1

5 NET SALES RANK 2

5 OIL & GAS RANK 2

This was a landmarkyear for Reliance as we

delivered recordfinancial and operating

performance inchallenging and volatile

market conditions.MUKESH AMBANI

CMD, RIL

fe500 profile500 profile


FE Bureau

IFoneweretolookattheaccoladesthispremier Navratna has garnered, itwould be an extremely long list.

However, here are a few noteworthy—numero uno oil exploration and produc-tion company in Asia as per Platts 250Global Energy Companies List in 2007.Ranked 20th amongst the top global pub-licly-listed energy companies as per PFCEnergy 50 in January 2008. And, the onlycompany from India in the FortuneMagazine’s list of the world’s mostadmired companies in 2007.

This speaks volumes about the kind ofgiant that the nation can count on. And,little wonder then that it is right up thereamongst the FE 500 list. And the financialyear 2007-08 saw the company record ahighest ever revenue of Rs 60,137 crore, anet profit of Rs 16,701.6 crore, and dis-tributed Rs 32 per share or a 320% divi-dend. As a group, the company crossedthe one trillion mark in 2007-08. Thisagain was a record of sorts.

However, the year marks the increas-ed intensity in exploratory efforts by thecompany and it made significant dis-coveries in deep water and ultra-deepwa-ter provinces in the east coast of India.“This focus has enabled us to maintain areserve replacement ratio (RRR) of morethan one consistently for the past fouryears,” said chairman and managingdirector RS Sharma.

The company had also made 38project acquisitions in 18 countries.Anddespitethehandsomepayout,ONGChas an enviable cash position. Cash andbank balance increased 23.8%, fromRs 15070 crore 2006-07 to Rs 18,650 crore in2007-08 and this constituted 24.1% and18.3% of reported net worth and totalassets respectively. Such a cash positionputs ONGC in a position of strength tomake global acquisitions. And surely,it has been making its internationalpresence felt.

ONGC operates in the internationalmarkets through its wholly-owned sub-sidiary OVL, through which it hasacquired interests in several oil and gas

blocks. OVL operates in 15 countries with44 properties and has produced around8.8 MMT of oil and oil equivalent gas lastyear. Therefore, the percentage of over-seas production to total production ofONGC has increased from 7.23% in 2002-03 to 15.4% in 2007-08.

Thecompanyhasanextremelystrongoverseas plan and a similar one onthe domestic front. OVL at the end of 2008has completed the Imperial Energyacquisition for $1.9 billion. And recently,the board approved an investment ofabout Rs 3,500 crore for investing inadditional facilities at its oilfields inAssam and Western Offshore to boostoutput and also reported five oil and gasdiscoveries.

The third quarter results, however,were rather disappointing. Thanks to thefall in crude prices and under-recovery.Due to this, the company reported a sub-stantial drop in standalone net profit forthe quarter ended December 2008.During the quarter, the profit of the com-pany declined 43.32% to Rs 24,74.81 crorefromRs43,66.54croreinthesamequarterprevious year. Net sales declined 17.07%to Rs 12,538.6 crore, while total income forthe quarter fell 14.55% to Rs 13,657.39crore, when compared with the prioryear period.

However, the depreciating rupee isexpected to boost earnings in the shortrun, its ambitious plans and vision in thelong-run. Every single rupee fall againstthe dollar causes the standalone earn-ingspershareof thecompanytoincreaseby more than Rs 3, say analysts. As for thelong-run, RS Sharma said, “As we lookinto the future, it is strewn with opportu-nities. Even though ONGC is committedtoconcentrateonitscorebusinessareaofE&P, it shall continue to capture growthopportunitiesinintegrationprojectsandretain its leadership position in theenergy sector of the country.”

In this, the company is also lookingat new vistas in the nuclear power gener-ation area. It would be looking at jointventures to tap the uranium potentialand further enhance its role in India’senergy security.

Guarding and growingnational interests

ONGC5 COMPOSITE RANK 2

5 NET SALES RANK 5

5 OIL & GAS RANK 5

The company is thetorchbearer in seekingenergy security for thenation and in providing

affordable energy tofuel our growth.

R S SHARMACMD, ONGC



NTPC5 COMPOSITE RANK 3

5 NET SALES RANK 7

5 POWER GENERATION& SUPPLY RANK 1

NTPC has alwaysdemonstratedleadership by adoptingthe latest technologiesto pursue sustainableand efficient powergeneration.R S SHARMACMD, NTPC

Arun S

NTPC, the country’s largest powercompany, has emerged as an‘Integrated Power Major’, with a

significant presence in the entire valuechain of power generation business. Atpresent, it has a generating capacity of29,894 MW, from coal and gas. But thecompany has also diversified into hydropower, coal mining, power equipmentmanufacturing, oil and gas exploration,power trading and distribution. The pub-lic sector company, incorporated in theyear 1975 and ranked 411th in the Forbeslist of ‘World’s 2000 largest companies,2007’, has embarked on plans to become a75,000 MW company by 2017.

The company contributes to 19.11%of the country’s capacity and accountedfor 28.51% of the total power generationin India in 2007-08. On March 20,RS Sharma, CMD of the company, saidthat it would add 3,000 megawatts ofcapacity in FY 2009-10. This expansiontarget is around 70% more than what thecompany would achieve in 2008-09. Thecompany undertakes many pro-activemeasures to protect the environment andecology around its projects. It was thefirst among power utilities in India tostart Environment Impact Assessment(EIA) studies and reinforced it with peri-odic environmental audits and reviews.

NTPC is also planning to increase theshareof non-fossilbasedgeneration.Theshare of fossil fuel-based generation isexpected to come down from 82% of thetotal generation today to about 70% by2017. NTPC’s is also diversifying intoequipment manufacturing and formed aJV with BHEL for manufacturing bal-ance-of-plant equipment and main-plantequipment. NTPC has developed greencover of over 18 million trees and plans todevelop one million square feet of greenbuilding space by 2017. It is also fast-tracking the solar power developmentprogramme of setting up 15 MW solarcapacity by 2012 and 50 MW capacity by2014. In 2007- 08, the company’s gross rev-enue crossed the Rs 40,000 crore-mark,while its shareowner base breached the

onemillion-mark.It is theeight largest inthecountryintermsof shareholderbase.It generated 200.8 billion units of powerin 2007-08, while the capacity utilisation(PLF) of coal-based power stationscrossed the 90% mark (92.24%). Net profitcrossed the Rs 7,000 crore-mark (Rs 7414.8crore) and capex crossed the Rs 8,500crore-mark (Rs 8,621 crore).

In the December quarter of 2008-09,the company reported a 26% higher netprofit. The company has hired 1,225 peo-ple in the current year and plans torecruit over 1,000 engineering and man-agement professionals in the comingyears. Thanks to its competent humanresources team and an excellent trainingpolicies, it received special recognitionfrom the India chapter of Great Places toWork Institute. NTPC came first in thecategory ‘Best workplaces for largeorganisations’. It was also placed eighthin overall rankings for 2008.

The company also mulls setting up anetwork of distribution centres close toits power plants and later transfer themto state electricity boards. The companyis looking at setting up power projects inKazakhstan in order to import coalfrom there.

The company is likely to soon get tosupply 3 million tonne per annum of gasin Nigeria. This is in return for con-structing a 500 MW coal-based plant and700 MW gas-based power plant there.

To address manpower shortage in thesector, NTPC is adopting and upgrading21 identified Industrial TrainingInstitutes (ITIs) and is also helping to setup new ITIs near its units. Doing its partin contributing to rural electrification,the company has taken up electrificationof nearly 40,000 villages in six states andone union territory, with special focus onproviding electricity to families livingbelow poverty line, through the RajivGandhi Grameen Vidyutikaran Yojana.

According to Sharma, the company’spower trading subsidiary NVVN hascrossed the cumulative power tradingmark of 12 billion units. NVVN will sellpower from the upcoming merchantcapacity as well.

Networking toaugment potential


FE Bureau

THE India growth story so far andeven henceforth rests on the for-tunes of several corporations.

Indian Oil Corporation (IOC) is defi-nitely one of them. The sheer magnitudeof operations and its reach make it a crit-ical element in India’s growth prospects.

Consider this, in the financial year2007-08, the IndianOil group sold 59.29million tonne of petroleum products,including 1.74 million tonne of naturalgas, and exported 3.33 million tonne ofpetroleum products. It, along with itsgroup of companies, owns and operates10 of India’s 19 refineries with a com-bined refining capacity of 60.2 millionmetric tonne per annum (or 1.2 millionbarrels per day). These include tworefineries of subsidiary Chennai Petro-leum Corporation Ltd (CPCL) and one ofBongaigaon Refinery and Petrochemi-cals Limited (BRPL). The corporation’scross-country network of crude oil andproduct pipelines, spanning about 9,300km is the largest in the country.

In fact, 2007-08 saw the culmination ofa major restructuring exercise in theform of a seamless merger of the market-ing subsidiary, IBP, with Indian Oil.“Integration of the countrywide assetsand operations of both the companies ledto the formation of a larger and more for-midable marketing network of over34,000 touch points for Indian Oil,” saidSarthay Behuria, chairman, Indian Oilin the annual general meeting. “A similarexercise is underway for the merger ofthe refining subsidiary, BongaigaonRefinery and Petrochemicals Ltd, whichwill bring synergy in our refining opera-tions” he added.

Indian Oil’s revenues for the year2007-08 reached a new high of Rs 2,47,479crore, up by 12.1% as compared to the pre-vious year. The net profit was Rs 6,963crore, after considering the compensa-tion of Rs 18,997 crore in the form of thespecial oil bonds issued by the Govern-ment of India. The total net under-recov-ery onaccountof priceunder-realisationon sale of the four sensitive products in

the year 2007-08 was Rs 9,774 crore, afterconsidering the oil bonds and burden-sharing by upstream companies.

Among new businesses, natural gasmarketing and petrochemicals togethergenerated revenues of nearly Rs 4,700crore for the year 2007-08. The petro-chemical plants set new records in pro-duction during the year to matchincreased sales. The year also markedexpansion of the corporation’s upstreamportfolio to over 20 oil and gas assets inIndia and abroad.

In fact, Indian Oil has been creatingassets internationally as well and most ofthem are present in value-added productsegments. Indian Oil (Mauritius) hasdeveloped its presence in the competitiveaviation business. Lanka IOC looks atwidening the lubricants business.

Similarly, Indian Oil Middle EastFZE concentrates on blending lubricantsand marketing petroleum products inthe Middle East, Africa and CIS coun-tries. The combined turnover of allsubsidiaries for the year 2007-08 wasRs 41,831 crore, registering a growth of11.2% over the previous year. Their com-bined profit was Rs 1,524 crore, anincrease of 109% over the previous year.The joint ventures also fared well duringthe year, with their aggregate turnoverreaching Rs. 8,245 crore, representing a31.6% growth over the previous year.Their combined profits registered a 64%jump to Rs 595 crore

Going ahead there are ambitiousplans. The management envisagesinvestments of over Rs. 50,000 crore cur-rently and plans to take the group refin-ing capacity from 60.2 to 80 million tonneper annum by the year 2011-12. Similarly,IndianOil will add about 4,000 km of newpipelines by the year 2012. “In this, we seegaspipelinesasahigh-growtharea,”saidBehuria. He also mentioned, “IndianOil’s new businesses assume great signif-icance for its growth plans for the future,with its current marketing margins tak-ing a hit on account of soaring prices ofcrude oil in the international market andincomplete pass-through of productprices to the customers.”

Storming ahead introubled waters

IOC5 COMPOSITE RANK 4

5 NET SALES RANK 1

5 OIL & GAS RANK 1

Indian Oil too isseeking quantum leaps

in its core business,adding on new and

emerging segmentson the way.

SARTHAK BEHURIAChairman, IOC



Anandita Singh Mankotia

BHARTI Airtel Ltd, the country’slargest telecom service provider,is a group company of Bharti

Enterprises led by Sunil Bharti Mittal.It is Asia’s leading integrated telecomservices provider with operations inIndia and Sri Lanka and an aggregate ofover 93.8 million customers as of endFebruary 2009, consisting of 91.11 mil-lion mobile customers. Bharti Airtel Ltdhas been voted India’s most innovativecompany in a survey conducted by TheWall Street Journal.

The company commands a marketshare of 32.88% in the GSM segment.Bharti Airtel is structured into threestrategic business units—mobile ser-vices, telemedia services and enterpriseservices. The mobile business offers ser-vices in India and Sri Lanka. The teleme-dia business provides broadband andtelephone services in 95 cities. Last yearit forayed into DTH and IPTV services.The enterprise business provides end-to-end telecom solutions to corporate cus-tomers and national and internationallong distance services to carriers. Allthese services are provided under theAirtel brand. Airtel’s high-speed opticfibre network spans over 90,205 kms cov-ering all the major cities in the country.Thecompanyhastwointernational land-ing stations in Chennai that connects twosubmarine cable systems—i2i to Singa-pore and SEA-ME-WE-4 to Europe.

Bharti Airtel recently announced keyapex level organisational changes aimedat laying the foundation for the com-pany’s next phase of growth. As per itManoj Kohli, CEO and joint managingdirector, Bharti Airtel will now increas-inglyfocusonstrategydevelopment,gov-ernance and organisation development.He will also provide additional focus onbuilding the B2B powerhouse. SanjayKapoor has been elevated from president—mobileservicestoanewlycreatedposi-tion of deputy CEO. In his new role,Sanjay will lead the mobile, telemediaand DTH businesses. Atul Bindal willtake over as president—mobile services.

K Srinivas who was executive director(east)—mobile services and in-charge ofSri Lanka operations will take over asjoint president—telemedia services.

According to Sunil Bharti Mittal,chairman and managing director, BhartiAirtel, the company continues to lead thetelecom growth story adding customerand revenue market share despiteintense competition. “Bharti’s strategyof extensive roll out ahead of competi-tion, especially in new villages, hasyielded rich dividends. Our launch in SriLanka has received a huge response anddespite coming in as the fifth operator wehope to be in a leadership position in thecoming years. The customer response tothe launch of our world class DTH andIPTV services has been encouraging.Bharti Airtel is well placed to capitaliseon the huge telecom opportunity thatIndia offers.” Last year, the companylauncheditsmobileservicesinSriLankaunder the Airtel brand on a state-of-the-art 3.5G network. The company plans toinvest around $200 million in its SriLanka operations.

The vision is that of emerging as aconglomerate by 2020 and the companyhas thus forayed into the retail sector.Bharti Retail Ltd, a wholly owned sub-sidiary of Bharti Enterprises, launchedtheir first “Easyday market”. It alsolaunched neighbourhood format stores“Easy Day” in Ludhiana, Punjab.

The group, which had also forayedinto the insurance sector with BhartiAXA Investment Managers, a joint ven-ture between Bharti Group and AXAGroup, last year announced that it is tar-geting assets worth $10 billion under itsmanagement by 2012. The company inassociation with Indian Farmers Ferti-liser Cooperative ltd (IFFCO) also an-nounced the launch of a joint venturecompany IFFCO Kisan Sanchar Ltd(IKSL), to provide a boost to Indian agri-culture and the rural economy. The JVcompany will harness the power of tele-com to add value to the farm sector andempower the rural farmer by giving himaccess to vital information, which willenhancehislivelihoodandqualityof life.

Leading the way intouching lives

Bharti Airtel5 COMPOSITE RANK 5

5 NET SALES RANK 12

5 TELECOMMUNICATIONS-SERVICE PROVIDER RANK 2

I have always believedthat Airtel’s services

have changed millions oflives. We are fortunatethat our business has

social relevance.SUNIL BHARTI MITTAL

CMD, Bharti Airtel



SAIL5 COMPOSITE RANK 6

5 NET SALES RANK 6

5 STEEL-LARGE RANK 1

The essence oforganisationalexcellence goes muchbeyond the merephysical and financialnumbers that highlightoperating performance.S K ROONGTAChairman, SAIL

Rishi Raj

STATE-OWNED Steel Authority ofIndia Ltd (SAIL) is the country’slargest steel maker. It was among

the leading profit earning corporates ofthe country in 2007-08 with an annualprofit (before tax) of Rs 11,469 crore and aturnoverof Rs45,555crore.Thecompanypaid its shareholders 37% dividend fortheyear,amountingtooverRs1,500crore.

Sail set new performance landmarksin financial year 2007-08 with high pro-duction and productivity, market-drivenproduct-mix, higher value-added/spe-cial steel production and by taking sev-eral initiatives towards cost reduction.Strong market demand for steel sup-ported best-ever sales of 12.3 milliontonne during the year, with substantialgrowth in sales of value-added productslikelongrailsof 130/260metre,plates,HRcoils and medium structurals. Sales werealso boosted by the presence of SAIL’sauthorised dealers in all districts of thecountry, with an addition of about 1,200new dealers during 2007-08. Sail thusbecame the first steel company in thecountry to have a distribution networkcovering each and every district.

During2007-08,Sailrecordedthehigh-est-ever saleable steel production of 13million tonne with a capacity utilisationof 118%. Of this, 8.9 million tonne wasproduced through the energy-efficientcontinuous casting route with capacityutilisation of 128%. Production of spe-cial quality/value-added products wentup to 3.5 million tonne. Over 30 new prod-ucts were developed for special applica-tions, including high corrosion/earthquakeresistantTMTrebarsforconstruc-tion, high tensile plates for hydel powerprojects and high yield strength(SAILMA550HI)plates,SUP-11A/9gradespring steel for the auto sector, environ-ment-friendly C-5 coated CRNO sheets,armoursteelplatesforthedefencesector,boron-treated aluminium-killed low car-bon steel, vanadium micro-alloyed railsfor application in tracks for higher axleload at high speed, low carbon HR coilswith titanium for extra deep drawing.

The company also achieved the lowest-ever energy consumption at 6.95 gigacalories per tonne of crude steel and cokerate at 533 kgs per tonne of hot metal in2007-08 by fine-tuning operational effi-ciencies. Thrust on cost reductionresulted in savings of over Rs 300 crore.Hence SAIL was able to partially offsetthe price increase of inputs such as coal,zinc, nickel, freight charges.

SAIL implemented measures, includ-ing introduction of the IntegratedProject Management system, adoption oflatest monitoring techniques and em-ployee empowerment, to ensure smoothimplementation of its expansion andmodernisation plan, which will takeSAIL’s annual hot metal productioncapacity to over 26 million tonne from thelevel of 14 million tonne by 2011-12.

“SAIL has been at the forefront indeveloping new grades of quality steelincluding for projects of national impor-tance. Some of the products during 2007-08includeearthquakeresistantTMTandwire rods with improved corrosion resis-tance, vanadium micro-alloyed rails forapplication in tracks for higher axle loadat high speed, steel armour plates for thedefence sector,” says SK Roongta, chair-man SAIL. Initiatives were taken by thecompany during 2007-08 to ensure secu-rity of raw material supplies and expandbusiness. These included the decision toinstall Steel Processing Units in stateswhere SAIL has no plants, equity partici-pation in International Coal VenturesLtd, a special purpose vehicle formedwith four other PSUs for acquisition ofcoal assets in overseas territories, andMoUs with MOIL and Tata Steel.Initiativesinotherareasincludedsettingup of two JV companies for production ofslag cement and a decision to install awind power plant of 50 MW capacity inTamil Nadu, expansion of JV captivepower plants by 1,250 MW at Bhilai andBokaro, alliance with POSCO, Korea.

SAIL spent around Rs 120 crore onCSR in 2007-08. It adopted 79 villagesacrosseightstatesasModelSteelVillagesfor exclusive development of medicalfacilities, education, roads, etc.

Optimising capacity toempower the nation


Rachana Khanzode

RELIANCE Communications(RComm) is the flagship companyof the Anil Dhirubhai Ambani

Group (ADAG). It is India’s leading inte-grated telecommunication companywith over 71 million customers.

The company’s business encom-passes a complete range of telecom ser-vices covering mobile and fixed linetelephony. It includes broadband, na-tional and international long distanceservices and data services along witha range of value-added services andapplications.

For the financial year 2007-08, thecompany posted a net profit of Rs 5,401crore, higher by 70.8% compared to a netprofit of Rs 3,164 crore in the previousyear. Revenues stood at Rs 19,068 crorecompared to Rs 14,468 crore earlier, agrowth of 31.8%.

The company had many milestonesin the period 2007-08. In May 2007, itoffered feature rich mobile handset atjust Rs 777. It also emerged as the 2ndlargest marketer of mobile handsets inIndia. The same month, it slashed ratesfor calls to Gulf by over 36%, enablingcustomers to make calls to all countriesin Gulf region at just Rs 6.99 per minutewithRelianceGlobalCallCardof denom-ination of Rs 1,900.

In July, it teamed up with QualcommIncorporated to grow CDMA2000 tech-nology in India. At the same time, italso announced their world leadingCDMA2000 network expansion, coveringmore than 20,000 towns in India. It alsoannounced the acquisition of US basedYipesHoldings,Inc.,aleadingproviderofmanaged Ethernet services.

In November, RComm and Microsoftannounced a strategic partnership todeliver a highly connected, personalizedTV experience to consumers in Indiathrough Reliance’s IPTV service, whichwill be powered by the MicrosoftMediaroom Internet Protocol Television(IPTV) software platform.

In January 2008, it the received start-up spectrum to launch nationwide GSM

services under its existing UnifiedAccess Service License (UASL). In thesame month, FLAG Telecom GroupLimited, a subsidiary of Reliance Com-munications announced the signingof a bilateral agreement with US-based GlassHouse Technologies, anindependent IT infrastructure con-sulting and services firm providingmanaged IT services directly to enter-prise customers.

In 2008, the company entered intotalks to strike a merger deal with SouthAfrica’s MTN, but the talks failed in Julythat year. In May 2008, Reliance Glo-balcom Limited, a subsidiary of RelianceCommunications, announced an agree-ment to acquire the London headquar-tered Global Managed Network Services,VANCO Group Limited. The acquisitionof VANCO would add $365 million to theannual revenues of Reliance Globalcomthrough secure Long-term contractswith largest enterprise customers, thecompany said then.

In December 2008, RComm an-nounced the launch of its GSM servicesacross 11,000 towns in India.

More recently, in March 2009, thecompany became India’s first operatorto offer nationwide CDMA and GSMmobile services, by adding a record 3.38million new customers during February2009, on its next-generation wirelessnetwork. For the third quarter of 2008-09,the company posted a net profit ofRs 1,410 crore, higher by 2.7% comparedto net profit of Rs 1,373 crore in the corre-sponding quarter last year. Revenuegrowth was 20% at Rs 5,850 crore fromRs 4,874 crore.

According to the company website,Reliance Communications has a reliable,high-capacity, integrated (both wirelessand wireline) and convergent (voice, dataand video) digital network.

It is capable of delivering a rangeof services spanning the entire info-comm (information and commu-nication) value chain, including infra-structure and services—for enterprisesas well as individuals, applications,and consulting.

Reaching out toconnect with the future

RCOM5 COMPOSITE RANK 7

5 NET SALES RANK 25

5 TELECOMMUNICATIONS-SERVICE PROVIDER RANK 2

Through our nationwideGSM launch, along withour continued focus onour CDMA network, we

will endeavor tore-write the rules of

the industry.ANIL AMBANI

Chairman, RCOM



Smita Joshi Saha

THE year 2007-08 marked the 100years of existence of India’s oldestlargest integrated private sector

steel company—Tata Steel Ltd.Established in 1907, Tata Steel today isamong the lowest cost producers of steelin the world.

The present decade has marked sev-eral joint ventures for the company,as well as some big ticket acquisitions,especially that of UK’s Corus Plc in April2007. With this acquisition, Tata Steel,with a crude steelmaking capacity of 28.1million tonne per annum, became thesixth largest steel company in the world,with a presence in several countriesacross continents.

In the financial year 2007-08, TataSteelhadincludedCorus’financialsinitsconsolidated accounts for the first time.Consolidated net sales for FY 2007-08stoodatRs1,31,536crore($33billion).Theconsolidated net profit was Rs 12,350crore. On a stand alone basis, Tata Steel’snet sales grew 12% to Rs 19,693.28 croreagainst Rs 17,551.09 crore in FY 2007. Netprofit for the year was Rs 4,687.03 croreagainst Rs 4,222.15 crore in FY 2007.

The company, during the year, alsocompleted its long-term financingprogramme for its Corus acquisition.Of the total enterprise value of $14.2billion, the financing included around$10.5 billion as bridge funding, the bal-ance applied out of Tata Steel’s own cashand borrowings.

Going ahead, Tata Steel’s long-termraw material strategy will see the syner-gies of combined buying come into play.Tata Steel meets all of its current iron oreand 60% of its coal requirement forIndian operations from its own mines.While Tata Steel’s stand alone raw mate-rial security is 80%, it was 22% for TataSteel Group in 2007.

“With the global demand for finishedsteel growing dramatically in the lastfew years, the need for securing rawmaterials efficiently and effectively hasbecome increasingly important,” saidTata Steel’s group director (global miner-

als), Arun Baijal in the annual report.In keeping with the group’s raw

material strategy, the company hadfinalised the following agreementsin FY 2007-08. In November 2007, theTata Steel group entered into definitiveagreements with Riversdale MiningLtd for a 35% stake in Mozambique Coalprojects for a purchase considerationof $84 million, where the group willhave the right to a 40% offtake forcoking coal.

In December 2007, the group enteredinto a joint venture with Sodemi for an85% stake for the development of an ironore project in Cote d’lvoire, with Sodemiholding a 15% stake (Ivory Cost - iron oredeposits).AndinJanuary2008,TataSteelGroup entered into a joint venture agree-ment with the shareholders of Al RimalMining LLC for a 70% stake in the com-pany (Oman limestone project).

Currently, the global steel industryis going through unprecedented times.Post the steep run up in the steel pricesbeginning January 2008, steel priceshave collapsed over the last 3-4 monthsowing to the sharp fall in the spotprices and uncertainty over demand onaccount of the adverse global macro-economic factors.

Tata Steel’s long-term greenfield ex-pansion plans at Jharkhand and Chattis-garh are on hold, except Orissa Phase I,which is to be completed by 2011.

Meanwhile, Tata Steel enhancedcapacity from 5 MTPA to 7 MTPA duringthe 1st half of FY2009 with the settingup of the new H-Blast furnace. The com-pany expects to further raise its steelcapacity to 10 MTPA by December 2010at Jamshedpur.

Going ahead, Tata Steel will continueits cost competitiveness due to Indiansources of raw material and skilled lowcostlabourandwillalsoimplementrapidlow cost implementation programmes.

And, as the financial year 2008-09unfolds, news that the company hasimproved its production keeps pouringin. It has recorded a 47% rise in sales inFebruary 2009, compared with sales inthe corresponding month of 2008

Plenty of sheen onworld stage

Tata Steel5 COMPOSITE RANK 8

5 NET SALES RANK 14

5 STEEL-LARGE RANK 2

The demand for steel inthe developing world

will continue be animportant engine ofgrowth. It will be theanchor material for

various sectors.RATAN TATA

Chairman, Tata Group



BPCL5 COMPOSITE RANK 9

5 NET SALES RANK 3

5 OIL & GAS RANK 3

The year gone by hasbeen very challengingfor the downstream oilsector in India. BPCLhas still performedcredibly in all areasof operations.ASHOK SINHACMD, BPCL

Shaheen Mansuri

BHARAT Petroleum CorporationLimited (BPCL) is a Fortune 500company having an equity base of

Rs 361.54 crore. It is a leading player inIndia’s downstream oil refining and mar-keting sector with the second largestmarket share. Its two refineries inMumbai and Kochi processed about 21million metric tons of crude in the yearended March 31, 2008.

For the financial year 2007-08, BPCLearned revenues of Rs 1,12,410 crore com-pared to revenues of Rs 99,107.8 crore in2006-07. Net profit for the period stood atRs 1,912.5 crore compared to Rs 2,355.9crore the previous financial year.

BPCL is directly connected to thelives of millions across the nation. Itproduces kerosene that ignites a stove inthe remotest of areas in addition tothe fuel used to fly aircrafts. It is engagedin the, refining and marketing ofaviation turbine fuel, petrol, diesel, fueloils, kerosene, greases and lube oilbased stock.

The company provides benzene,toluene, furnace oil, hexane, mineral tur-pentine oil and bitumen to industries.Bharatgashasinexcessof 25millioncon-sumers whereas Bharat metal cuttinggascaterstotheconstructionindustrybyproducing low cost metal cutting prod-ucts. BPCL has a wide-spread network ofpetrol stations, kerosene dealers, LPGdistributors and lube shoppes.

BPCL launched the concept of conve-nience stores called ‘In & Out’ housedwithin the petrol-stations with the objec-tive of making life easier for consumers.These stores remain open till late in thenight to enable call centre executives andthose working late meet their needs.

Today BPCL has distribution loca-tions and sales offices spread acrossthe country, 8300 gas stations and morethan 2100 liquefied petroleum gas (LPG)distributors. BPCL is one of the only 7Indian companies to figure in theFortune Global 500 list and is ranked 287in the latest list.

BPCL also brought into play Enter-

prisewide Resource Planning (ERP) solu-tions—SAP. The implementationproject—ENTRANS (EnterprisewideTransformation) was awarded the ‘SAPStar Implementation Award’.

The ongoing BPCL projects include:Central India Refinery Project: A 6Million Metric Tonnes per annum(MMTPA) capacity state-of-the-art grassroots Refinery at Bina, in MadhyaPradesh along with crude oil importfacilities being undertaken by BharatOman Refineries Limited (BORL) a jointventure company promoted by BPCL.

Bina Despatch Terminal: BPCL hasgot into product purchase and saleagreement with BORL and wouldtake charge of marketing the refinedproducts from the new refinery at Bina inMadhya Pradesh.

BinaKotaPipelineProject:An18”dia,265 km long cross-country productpipeline from Bina to Kota would be laidout to enable the economic evacuation ofMS, HSD, Superior Kerosene Oil (SKO)and ATF from the new refinery at Bina.

Crude Oil Receipt Facilities at Kochi:The project comprising Single PointMooring, Shore Tank Farm, associatedpipelines and pumping facilities toprocess receipt of crude oil in Very LargeCrude Carriers (VLCC) was mechani-callycompletedonNovember30,2007andis currently operational . The use ofVLCC for transporting crude oil to Kochihas resulted in reduction in the freightcost of both the Kochi and Mumbairefineries.

Fuels Quality Upgrade Project atMumbai Refinery: The project intendsplant modifications for improving thequality of MS & HSD to meet the Euro IVequivalent norms for meeting thedemand in Mumbai from April 2010.

Under its CSR plans, BPCL under-takes Community Development Pro-gram to usher in holistic development inadopted villages, comprising economi-cally and socially backward population.At the recently held Asian CSR awardsceremony in Singapore, BPCL won theAward in the category of EnvironmentalExcellence for ‘Project Boond”.

Fuelling India’s growthand development


Arun S

DURINGtheslowdown,BHEL—thecountry’s largest engineering andmanufacturing enterprise, was in

the news recently when a report byEmkay Global Financial Services Ltdsaid that the company’s turnover wouldexceed all expectations for 2008-09 andregister a 30% growth. There were alsoreports that the company is mulling a JVin the nuclear forging business with theconsortium of French nuclear technol-ogy provider Areva and Pune-basedBharat Forge. For the fourth consecutiveyear, the company was chosen for the‘ICWAI (the Institute of Cost and WorksAccountants of India) National Awardfor Excellence in Cost Management’.Withanorderbookpositionof Rs1,13,500crore, at the end of the third quarter ofFY’08-09, the company expects to achieverobust growth in 2008-09 and beyond. Aninterim equity dividend of 90% on theenhanced equity capital post-bonus hasbeen paid for fiscal 2008-09, maintainingthe track record of paying dividendsuninterruptedly for the last 33 years.

The company also declared a firsttime ever bonus issue in the year 2007-08.It has also adopted the various manda-tory accounting standards and corporategovernance practices. BHEL’s toplineCAGR was 28%. It is expected to bearound 25% in 2008-09. In the current fis-cal, the company’s order receipts wouldcross Rs 60,000 crore-mark and the out-standing order book is more than Rs1,15,000 crore. In 2007-08, the companyachieved a gross margin of Rs 4,763 croreand a net profit of Rs 2,859 crore. Theearnings per share has gone up from Rs13.5 in 2003-04 to Rs 58.4 in 2007-08. Returnon capital employed and return on networth at 61% and 27% respectively areone of the highest in the industry.

Macquarie Research said capacityadditionplansat fourimportantplantsofBHEL at Haridwar, Hyderabad, Bhopaland Trichy are ahead of schedule,thereby allaying fears about execution.Withover42,600employees, itmakesover180 products under 30 major product

groups and caters to core sectors likepower generation and transmission,industry, transportation, telecommuni-cation, etc. It has a network of 14 manu-facturing divisions, four power sectorregional centres, over 100 project sites,eight service centres and 18 regionaloffices. BHEL has installed equipmentfor over 90,000 MW of power generation.

Its achievements reads as: suppliedover 2,25,000 MVA transformer capacityand other equipment operating inTransmission&Distributionnetworkupto 400 kV (AC & DC); supplied over 25,000motors with drive control system topower projects, petrochemicals, refiner-ies, steel, aluminum, fertiliser andcement plants, and supplied tractionelectrics and AC/DC locos to power over12,000 kms of railway network. Besides,BHEL has supplied over one millionvalvestomanyindustries.BHELhasaug-mented its manufacturing capacity to10,000 MW per annum and this isexpectedtogoupfurtherto15,000MWperannum by December, 2009 and to 20,000MW per annum by December, 2011. Itaims to be a Rs 45,000-crore company by2011-12 and is implementing a ‘StrategicPlan 2012’ that will enable it to grow at acompounded annual growth rate of 20%.

BHEL outbid European MNCs andIndian majors to win a major contract fortransformers for the Tirora PowerProject. Valued at Rs 81 crore, the orderhas been placed on BHEL by PowergenInfrastructure for the upcoming 1,980MW (3x660 MW) Tirora Thermal PowerProject of Adani Power MaharashtraLimited (APML). In February, the com-pany had bagged an order for the supplyof 7 single-phase generator transformersfrom NTPC Ltd for its Barh ThermalPower Project. BHEL has supplied over4,000 transformers, aggregating to over3,00,000 MVA in cumulative capacity fortransmission and distribution networks,which are the mainstay of the Indiangrid. These have been supplied to allmajor utilities in the country, includingSEBs, NTPC and PowerGrid. On theexport front, it has supplied transform-ers to more than 20 countries.

Setting milestonesfor achievement

BHEL5 COMPOSITE RANK 10

5 NET SALES RANK 15

5 ELECTRICEQUIPMENT RANK 1

All our businessesoperate in a highly

competitiveenvironment and we are

progressing to build onthe momentum gained

in years gone by.KRISHNASWAMY RAVI KUMAR

CMD, BHEL



Mona Mehta

ENGINEERING and construction(E&C) conglomerate Larsen & Tou-bro Limited (L&T) has interests in

manufacturing, services and informa-tion technology and has a leadershipposition in many of its major lines ofbusiness for more than seven decades.Recently,L&Thasalsoshotintolimelightwhenitsubmitteditsexpressionof inter-est to acquire Satyam Computer, and isseen by many as a front-runner for theHyderabad based firm.

In heavy engineering, L&T is acknow-ledged as one of the top five fabricationcompanies in the world, with engineer-ing and manufacturing capabilities thatare among the most sought after in theindustry. Strategic alliances with worldleaders enable L&T to access technicalknow-how and execute process-intensivelarge-scale turnkey projects to maintainits leadership position. L&T’s globally-benchmarked workshops are located atPowai in Mumbai, Hazira and Baroda inGujarat, and Vizag in Andhra Pradesh.

Between April 7, 2007 to March 31,2008, L&T achieved several milestones inbagging major domestic and interna-tional orders. It included, construction ofMumbai International Airport worth Rs5,500 crore; construction and civil workfor the Northern Area Development pro-ject in Rajasthan for Cairn Energy IndiaPrivate Ltd at Rs 1,347 crore; MumbaiHigh South Redevelopment Phase – II forONGC at Rs 1,261 crore, among others.Some major orders from the interna-tional market included manufacture andsupply of reactors (18) and separators (4)for clean fuel project for Kuwait NationalPetroleum Company for Rs 1,696 croreand building of semi submersible heavylift container carrier vessels for RollDock BV, Netherlands.

With ship-building being a majorthrust area, in January 2008, L&T’s pro-posal to put up an integrated ship build-ing yard and port got the green signalfrom the Tamil Nadu Governmentwherein it was decided that the facilitywillcomeupatEnnore,northof Chennai,

with an investment of over Rs 2,000 crore.L&T has a shipyard capable of construct-ing vessels of up to 150 metres in lengthand displacement of 20,000 tonnes at itsheavy engineering complex at Hazira onIndia’s west coast. The focus will be onconstruction of commercial vessels, war-ships for the navy and the coast guard.

L&T is a major international manu-facturer of a wide range of electrical andelectronic products and systems. Larsen& Toubro Infotech Limited, a 100% sub-sidiary of L&T, offers comprehensive,end-to-end software solutions and ser-vices with a focus on manufacturing,BFSI and communications & embeddedsystems. It provides a cost cutting part-nership in the realm of offshore out-sourcing, application integration andpackage implementation.

L&T has posted 54.9% increase inprofit after tax (PAT) at Rs 2,173 crore forthe year ended March 31, 2008, as com-pared to Rs 1,403 crore reported duringthe previous corresponding period. Thecompany has registered a 40.7% rise ingross sales and service revenue at Rs25,187 crore for the year ended March 31,as compared to Rs 17,901 crore recordedduring the previous correspondingperiod. The share of revenue from theinternational operations constituted16.5% of the gross revenue. For the yearended March 31, 2008, the L&T’s orderinflowroseby37%overthepreviousyear.

During the first quarter of the finan-cial year 2008-09, L&T sold off L&T Con-crete (LC), a ready-mix concretemanufacturer, to Lafarge SA for Rs 1,483crore in May 2008.

Larsen & Toubro Ltd has reportedover two fold increase in net profit for thethird quarter of the financial year 2008-09, due largely to the sale of its ready mixconcreted unit to French major Lafargefor Rs 1,480 crore. The company’s third-quarter stand-alone net profit, includingone-time gain on account of the sale ofRMC unit, stood at Rs 1,520.44 crore or Rs25.80 per share, which increased morethan two-fold over the same period in2007. The figures for 2007 stood at Rs481.79 crore or Rs 8.11 per share.

On terra firma andprogressing forward

L&T5 COMPOSITE RANK 11

5 NET SALES RANK 13

5 ENGINEERING RANK 1

We are poised for rapidgrowth by reorganisingthe business structure

and placing an emphasison talent management,

self sufficiency,sharper focus on IT.

A M NAIKCMD, Larsen & Toubro



Infosys5 COMPOSITE RANK 12

5 NET SALES RANK 22

5 COMPUTER-SOFTWARE-MEGA RANK 3

Our focus is on creatingvalue for clients, runningan optimised business,and evolving ourbusiness model that willallow us to emergestronger.S GOPALAKRISHNANCEO and MD, Infosys

FE Bureau

OVER the years, Infosys Techno-logies has come to represent allthat is good with India Inc. High

growth, strong values and transparentcorporate governance. So, even when thetimesaretough, thecompanymanagestoreport strong numbers.

The second-largest IT services com-pany in India is also among the fastestgrowing IT services organisation in theworld. It is a clear leader in the offshoreservices space with a pioneer in theglobal delivery model. “Our global deliv-ery model along with our consulting andsolution capabilities provides a strongplatform for our customers seeking effi-cienciesintheirITspend,”saidSGopala-krishnan, CEO and MD Infosys.

Apart from providing business con-sulting, application development andmaintenance and engineering servicesto more than 500 clients across 29 coun-tries, the company has also its own pro-prietary core banking software - Finacle.

For the financial year 2007-08, whenthe impact of the global financial melt-down was not so pronounced, the com-pany managed to grow its revenues to Rs15,648 crore from Rs 13,149 crore in theprevious year, at a growth rate of 19%.

The company’s software exportrevenues aggregated Rs 15,429 crore, upby 19% from Rs 12,935 crore in theprevious year. Of these, 63.1% of therevenues came from North America,26.9% from Europe, and 8.6% from therest of the world.

The move to de-risk the businesssources and have a balanced revenuestream from different geographies hasseen that the revenue from Europeincreased from Rs 3,393 crore to Rs 4,207crore, with a growth rate of 24%, whichwas higher than the other regions.

The company continued to reap thebenefits of economies of scale. The netprofit after tax and exceptional item in2007-08 was Rs 4,470 crore (28.6% of rev-enue) as against Rs 3,783 crore (28.8% ofrevenue) in the previous year. The factthat Infosys manages to exceed customer

expectations can be seen from the factthat it derived 97% of its revenues fromrepeat business. The total client base atthe end of the year stood at 538. Also,Infosys has been named as the best com-pany in India in corporate governance inThe Asset Magazine’s annual CorporateGovernance Index 2008.

And, at the end of 2007-08, the com-panyhad310million-dollarclients(275inthepreviousyear),141five-million-dollarclients (107), 89 ten-million-dollar clients(71), 18 fifty-million-dollar clients (12),and 6 hundred-million-dollar clients (3).

The revenues for the third quarter ofthe 2008-09 stood at Rs 5,786 crore, anincrease of 35.5% from the correspond-ing quarter last fiscal. The sequentialrevenue growth was 6.8%.

However, the impact of the globalmeltdown will be felt in the current yearand there are many who are even con-templating the possibility of the com-pany recording a fall in revenues.But then there are signs that it mightactually not.

Infosys added 5,997 employees on agross basis versus the 4,500 employeeguidanceinthethirdquarterof financialyear 2008-09. The management has men-tioned that it would recruit 27,000 peopleas against the earlier guidance of 25,000.Ithaswonfourlargedealsinexcessof $50millionandiscurrentlypursuing10suchlarge deals. Little wonder then thatGopalkrishnan said after the third quar-ter results, “While there could be chal-lenges due to global economicuncertainties, we as a company see sig-nificant growth opportunities in themedium to long term.”

As a part of the efforts of the manag-ment to increase transparency anddisclosure levels in in financial report-ing, it has started the practice of addingrelating to detailed information on its‘cash and bank balances’ in its financialstatements from this quarter. Andthus, Infosys creates yet another firstin the annals of Indian corporatehistory and sets the standards high forcorporate governance, especially indistressed times.

Growing from strengthto digital strength


FE Bureau

BEFORE the turn of the nineties,ITC was known primarily for itsstrong presence in the cigarette

segment and a marginal presence in thehotel industry. Over the past few years,the company has metamorphosed itselfinto a diversified entity with strong pres-ence in the agricultural sector. Its inte-grated development approach andaggressive penetration in the FMCG andfoods sector has left many establishedplayers astounded.

This diversification is reflected in thefactthatthenetrevenuesforthefinancialyear 2007-08 at Rs 13,947.53 crore, grew by14.7%, driven by a robust 48.6% growth inthe non-cigarette FMCG businesses, anda steady performance by the hotels andpaperboards, paper and packaging seg-ments. The non-cigarette portfolioaccounted for 52.4% of the company’s netrevenues. And this translated into a netprofit of Rs 3,120.10 crore, a growth of15.6% over the previous financial year.

The group’s focus on the agri-sector isnot just to cater to the domestic market.The ITC Group’s contribution to foreignexchange earnings over the last decadeamounts to nearly $3.2 billion, of whichagri exports constitute 60%. “Earningsfrom agri exports are an indicator ofITC’s contribution to the rural economyby effectively linking small farmers withinternational markets,” said YCDeveshwar, chairman ITC at the annualgeneral meeting in July 2008.

TheITC‘ChoupalPradarshanKhet’,acollaborative and paid agri extensionservice, aimed at enhancing farm pro-ductivity through the adoption of bestpractices in agriculture, grew exponen-tially by 210% during 2007-08, covering43,500 hectares.

And not just that, the company’saggressive penetration and brand cre-ationintheFMCGandbrandedpackagedfood business has caught the eye. In thesalty snacks segment Bingo has sales ofRs 300 crore with a market share ofaround 13%, in the confectionaries seg-ment Candyman and Minto are market

leaders with sales of Rs 200 crore, in thebiscuits segment Sunfeast is the numberthree player with sales of around Rs 1,000crore and Aashirwad has more than a50% market share with sales of Rs 900crore. And all this has been achievedwithin a couple of years.

In fact, within a year’s launch ITC hasalready gained around 2.5% of the mar-ket share in the soaps segments and isexpected to reach around 3.5% marketshare within the next two quarters.

Closer to the quarter, when the FMCGand hotels division performed in an ordi-nary manner, the cigarettes divisionboosted its performance. The cigarettesegment net sales were up 17.7% in thethird quarter of the current financialyear and profit before interest and tax(PBIT) grew by 18% to Rs 1,134.1 crore.This is because of the relative in-elasticdemand for cigarettes, allowing the com-pany to gain from price increases.Moreover, it has an 80% share of the ciga-rette segment.

The third quarter did cast concernsover the non-cigarette FMCG revenuesand also from the hotel business. Thefocus would be on growing the agri-business further and also expandingthe hotels. ITC WelcomHeritage, a jointventure between ITC and MarudharHotels of Jodhpur will be taking upthree heritage locations in India at atime when there is a pronounced slow-down in the sector. Wills Lifestyle, thelifestyle retailing business, is alreadyleveraging ITC’s properties across thecountry to build specialty outlets andthese are expected to generate substan-tial returns, say analysts.

The going was never easy, but then asDeveshwar puts it, “The path to realisinga new paradigm of high growth is strewnwith several fundamental challenges.These can seriously undermine thegrowth process and derail the pace ofprogress in the coming years. Unless wetake impactful strides in resolving thesechallengesthroughfocussedpolicyinter-vention and radical innovation, we standthe unfortunate prospect of undoingmany of the gains made so far.”

Gains from dynamismand diversification

ITC5 COMPOSITE RANK 13

5 NET SALES RANK 23

5 CIGARETTES RANK 1

A relentless mission tobuild a world-class

Indian institutioncontinues to inspire us to

achieve leadership andexcellence in everything

we are engaged in.Y C DEVESHWAR

Chairman, ITC



GAIL(I)5 COMPOSITE RANK 14

5 NET SALES RANK 18

5 GASDISTRIBUTION RANK 1

In its quest forexcellence with ethics,the company is makingefforts to take economicgrowth and the growthof the energy markets tothe common man.U D CHOUBEYCMD, GAIL

FE Bureau

FROM being a mere gas transporterat the start of operations, GAILIndia has come a long way in

becoming a diversified gas solutionsprovider and will be looking at diver-sifying aggressively into building capac-ity in petrochemical and city gas areas.And, in many ways, tap the potential thatthe natural gas sector has to offer.Speakingaboutthisattheannualgeneralmeeting, UD Choubey, chairman andmanagingdirectorsaid,“Thenaturalgassector is progressively opening up andthere is considerable dynamism in thepolicy and regulatory environment.These changes present significant chal-lenges as well as opportunities in thecoming years.”

GAIL is India’s largest natural gastransmission company, operating a gaspipelinenetworkof over4,600kmsacrossIndia. The company dominates the gassector, transporting 90% of the totalgas transported through pipeline inIndia. Over the past decade, the companyhas managed a compounded annualgrowth rate of 13% in revenues and 10%in net profits.

For the financial year 2007-08 it got inrevenues worth Rs 18,008 crore, whichis 12% higher than the previous yearand earned a net profit of Rs 2,601 crore,which again is 9% higher than theprevious year.

However, in the silver jubilee year, themanagement intends to take the com-pany to new heights and has chalked outan ambitious plan. “Three focus areasdecided by the Board and TopManagement Team (TMT) have beenidentified as, (i) enhancing transmissionand distribution capabilities, (ii) petro-chemicals and (iii) city gas and CNGactivities,” said Choubey.

These three businesses will be at thecore of the company’s competence innatural gas-related businesses and isnot an unrelated diversification. At thesame time, it has the ability to capturethe huge capacity expansion expectedin this sector.

On the one hand, GAIL has hugecapacity expansion plans. These approx-imately add up to around Rs 28,000 croreover the next five years. And this isexpected to increase the transmissioncapacity from current 150 mmscmd to 346mmscmd.

And, this expansion is expectedto capture the opportunity thrown inby the twofold increase in the productionof natural gas. It also has linkageswith the Reliance Industries’ KG6 basingas production and will be a majorbeneficiary when gas operations areat full swing.

Moreover, the government, in the pre-vious year has permitted the company todistribute gas in as many as 230 citiesacross the country. At its AGM inSeptember (FY08) GAIL announced theincrease in its petchem capacity to 500KTA and further to 800KTA.

GAIL’s existing and large plans forcity gas distribution and even E&P willprovide the company with in-built busi-ness hedges. The management will,apart from developing city gas infra-structure, be building gas corridors onnational highways. Through this, thecompany plans to add 17 cities in thefirst phase of expansion over the nexttwo years.

So, when the petrochemical cycle isdown, like it is at the moment, theincrease in gas transportation and therevenues from the city gas business willhold it in good stead.

However, at the moment, there are alot of concerns over near-term profitabil-ity. This is due to the overall economicslowdown and the delay in commission-ing of some key gas production units likethe RIL KG6 basin gas.

But then when the cycle turns, thecompany, which was adjudged the “GasUtility in Asia” and also finds its way inthe prestigious Platts Top 250 GlobalEnergy Companies list, will be in a posi-tion to reap most benefits and take itsvision forward. Chairman Choubey andteam have a vision of taking the com-pany’s revenues beyond Rs 50,000 croreby 2011-12.

Moving forwardthrough innovation


FE Bureau

WIPROisanorganisationthathasliterally metamorphosed overthe past six decades. It all

started off in the pre-independence eraas a manufacturing unit of hydrogener-ated vegetable oil, later grew into a diver-sified consumer care products companyand then in 1975 into hydraulics engi-neering. It was only in 1980 that the com-pany stepped into the informationtechnology sphere and has now becomeone of India’s largest players.

It is in all spheres of operations, espe-ciallyintheITbusinessthatthecompanyhas created an indelible impact. In thefinancial year 2007-08, Wipro’s combinedIT businesses grew 43% to cross $4.3 bil-lion in revenues. Its global IT businessdelivered 38% growth (in dollar terms)and its India, Middle East and Asia Pac ITbusiness grew by 51%. Speaking aboutthis, chairman Azim Premji said in hisletter to stakeholders, “Achieving theselandmarks, in a tough environment forour technology business and unprece-dented currency appreciation of therupee, was satisfying. Extending ourtrack record set over the decades was par-ticularly rewarding.

During the financial year endingMarch 2008, the company’s revenuesgrew by 34% to Rs 20,397 crore and the netprofit by 12% to Rs 3,282.9 crore. Over thelastdecade,Wipro’srevenueshavegrownat a compounded rate of 31% and its netprofit even faster at 41%, something thatvery few organisations can match. Forthis Premji said, “In Wipro, we look atmilestones that reflect value as seen byour customers. 2007-08 saw another yearof impressive performance by Wiproites.We delivered all-round growth, built andsustained leadership while continuing toinvest for the future.”

The global IT services and productssegment revenue was Rs 13,641.7 crore,of which Rs 11,955.6 crore was from ITservices, Rs 1,157 crore from BPOservices and the balance Rs 529.1 crorefrom acquisitions made. During thecurrent year, the company earned 54.4%

of revenue from work done in locationsoutside India (onsite) and remaining45.6% of revenue from the work per-formed from our development centres inIndia (offshore”).

However, with the global meltdownand the extremely volatile currency, alot of firms in the IT sector have startedfeeling the heat and Wipro is also oneof them. For the third quarter of finan-cial year 2008-09, the company has postedsteady results, rather detached fromthe flamboyant numbers declaredearlier. Revenues for the quarter endedDecember 31, 2008, were at Rs 6,618 crore,representing a 25% increase over thesame quarter of the previous year andnet profit was Rs 1,004 crore, an 18%increase.

To challenge these testing times, themanagement has outlined a few mea-sures, which it presented to analysts.These included a set of non-linear strate-gies, including infrastructure services,diversification in R&D services andprocess transformation initiatives.Apart from that there has been a restruc-turing of business processes and also themanagement team.

The management would be broadbas-ing their R&D services and diversifyingfrom offering telecom and high-tech-ori-ented services to include automotive andaerospace. It would also be assimilatingpooling consulting capabilities from var-ious verticals within the company.Analysts say that Wipro has already cre-ated a consulting unit with around 1,000employees. This could easily be amongstthe largest consulting units across sectorleaders, reckon analysts. Importantly,the Global Program Management unitwill target large IT contracts coming upfor renewal.

Going ahead, Premji reckons, “We areliving in tough times; the macro-eco-nomic challenges are significant andimpacting businesses across segments.However, recessions do not last, resilientcompanies do. I am confident Wiproitesare resilient to withstand the near-termchallenges posed by an uncertain envi-ronment and come out stronger.”

Looking beyondbusiness into life itself

WIPRO5 COMPOSITE RANK 15

5 NET SALES RANK 19

5 COMPUTER-SOFTWARE-MEGA RANK 2

Our confidence stemsfrom fundamentals likebusiness environment,

strategic initiatives,leadership depth, abilityto innovate and passion

to look beyond business.AZIM PREMJI

Chairman, Wipro


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Reliance Inds

ONGC

NTPC

Indian Oil Corp

Bharti Airtel

SAIL

Reliance Communications

Tata Steel

BPCL

BHEL

Larsen & Toubro

Infosys Technologies

ITC

Gail(I)

Wipro

TCS

HPCL

Sterlite Inds(I)

Hindalco Inds

Power Grid Corp(I)

DLF

Maruti Suzuki(I)

Tata Motors

Hindustan Zinc

Reliance Infrastructure

Grasim Inds

Tata Power Co.

NMDC

MRPL

JSW Steel

Idea Cellular

National Aluminium

Mahindra & Mahindra

Suzlon Energy

Jindal Steel & Power

MTNL

Jaiprakash Associates

Neyveli Lignite Corp.

ACC

Hero Honda Motors

Hindustan Unilever

Tata Communications

MMTC

Cipla

Ambuja Cements

Videocon Inds

Jet Airways(I)

Chennai Petroleum Corp

Ranbaxy Laboratories

HCL Technologies

133805.78

59847.95

37050.10

226809.22

25703.51

39546.88

13416.19

19654.78

110750.36

19356.86

24643.51

15648.00

13920.76

18012.14

17492.60

18533.72

104312.99

12673.58

17171.19

4681.36

5532.85

18389.50

28060.16

7877.77

6364.22

10250.53

5876.53

5711.31

32565.84

11391.05

6719.99

5031.60

11328.55

6926.01

5394.39

4722.52

4015.70

3033.02

6054.61

10331.80

13880.56

3283.30

26503.03

4151.29

3782.24

8285.43

8750.33

28184.98

4032.64

4615.39

19.79

5.67

13.67

12.56

44.45

16.89

43.03

12.58

13.79

12.35

41.17

19.01

15.11

12.32

27.83

24.05

17.21

7.20

4.14

28.40

388.13

26.34

5.24

-7.97

11.46

19.06

25.88

36.44

14.69

33.15

53.90

-15.64

14.55

28.73

54.13

-3.81

14.67

16.20

19.04

4.36

13.37

-12.36

13.52

18.11

-8.78

14.78

26.29

13.78

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87852.08

116277.13

38973.80

40864.54

56364.62

53780.82

42615.43

30690.23

27067.24

17006.00

17249.47

19701.22

20175.40

14557.59

41379.66

18427.84

30888.86

42640.50

22443.79

12404.00

25313.09

13206.55

20322.32

14093.83

12973.44

7197.34

11536.91

20563.36

12737.27

11022.76

10124.94

12592.19

9263.39

18957.25

16914.94

14104.20

6969.75

5073.57

6830.07

8445.29

8878.37

5384.62

6539.14

12283.09

20662.77

9610.58

7717.44

5502.16

27.70

10.02

11.57

19.84

45.33

20.87

23.00

73.60

26.84

32.20

55.49

34.61

15.24

17.44

50.67

37.13

30.71

107.33

23.85

17.10

107.56

20.85

32.44

50.85

9.35

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45.17

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30.24

99.09

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10.08

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17.88

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-8.69

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146.70

30.37

23.27

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93.28

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12.73

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70617.40

52638.60

41086.25

20241.49

23063.57

24840.03

27300.73

11676.84

10774.21

9440.69

13490.00

12057.67

13004.88

11552.70

11004.81

10563.29

13165.02

17296.31

13507.37

11269.15

8415.40

7839.50

11848.19

10903.47

8140.71

7458.23

8289.65

3782.94

7677.25

3546.03

8874.45

4350.07

6947.66

3756.38

11921.36

4199.50

9040.28

4152.61

2986.24

1439.23

6547.34

1029.96

3755.82

4661.25

5678.38

4551.65

3464.52

2537.22

3213.12

24.70

14.04

8.32

17.95

76.89

33.21

21.02

95.72

13.66

22.60

65.14

20.86

15.53

14.15

24.00

36.55

10.05

195.32

39.28

26.23

-

22.78

14.12

55.34

16.75

30.67

36.66

42.90

37.22

37.78

62.73

15.32

22.44

87.10

50.45

2.51

46.17

8.52

32.14

20.90

-47.15

2.95

16.76

16.05

33.50

12.69

103.45

31.34

8.01

-6.19

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fe500 companiesbasedoncompositeranking500 companiesbasedoncompositeranking

ROA(%)

2008

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MarketCap

30.01.2009


Reliance Inds

ONGC

NTPC

Indian Oil Corp

Bharti Airtel

SAIL


Tata Steel

BPCL

BHEL

Larsen & Toubro


ITC

Gail(I)

Wipro

TCS

HPCL

Sterlite Inds(I)

Hindalco Inds

Power Grid Corp(I)

DLF

Maruti Suzuki(I)

Tata Motors

Hindustan Zinc


Grasim Inds

Tata Power Co.

NMDC

MRPL

JSW Steel

Idea Cellular

National Aluminium

Mahindra & Mahindra

Suzlon Energy


MTNL



ACC

Hero Honda Motors

Hindustan Unilever

Tata Communications

MMTC

Cipla

Ambuja Cements

Videocon Inds

Jet Airways(I)



HCL Technologies

27810.28

35381.33

12158.10

12761.53

10126.07

12674.01

4432.21

7881.97

3673.47

4688.73

3284.13

5646.00

5010.23

4418.48

3925.70

5789.57

2354.97

1242.58

4142.69

3152.05

3143.60

3052.50

3221.78

6283.66

1467.94

3535.75

1298.11

5032.57

2165.15

3171.30

1908.87

2757.11

1645.43

1504.43

1949.80

1335.71

1040.28

1966.66

2247.77

1566.21

2440.97

746.57

325.19

962.61

1828.89

1498.90

353.99

1977.05

893.14

1074.22

44.13

6.95

13.27

-2.11

45.74

19.10

30.50

11.56

0.56

18.83

52.66

22.63

16.80

17.22

11.02

28.76

-20.56

18.97

2.39

18.31

399.17

20.56

2.18

-5.27

26.16

39.53

23.13

41.08

53.15

31.40

78.94

-29.85

-1.97

20.20

52.42

-9.50

33.38

60.14

21.62

13.26

7.42

-32.02

66.41

2.97

23.33

20.14

-23.13

77.49

62.47

-20.08

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71

146

59

36

43

133

32

62

54

2

1

4

3

7

5

19

6

16

13

27

9

11

15

18

10

21

51

12

22

64

24

20

8

44

23

50

17

33

25

48

14

29

40

39

32

55

42

28

36

26

47

185

53

31

41

86

46

73

38

208719.00

140780.42

156251.47

53221.43

120320.64

34199.71

35129.62

13493.85

14161.52

64638.67

40342.32

74758.15

67801.56

24754.39

33825.30

50099.43

9687.21

19568.77

8340.95

37100.92

30171.84

16497.33

7692.76

14680.80

13265.38

10978.04

16859.26

66032.08

6476.00

3946.76

14570.47

12786.33

7585.94

7086.96

16043.16

4551.75

9026.48

13430.07

9485.12

17512.69

56937.26

12924.75

72412.25

14924.16

10726.72

2134.88

1543.58

1642.73

8679.34

7768.95

-41.87

-32.04

-6.05

-2.02

-25.62

-62.31

-72.18

-74.49

8.67

-36.80

-62.71

-12.47

-9.75

-31.28

-43.81

-40.86

14.31

-64.17

-61.40

-19.86

-79.47

-32.23

-71.34

-41.97

-71.85

-59.97

-41.34

-51.34

-54.51

-76.10

-52.01

-50.88

-55.33

-85.17

-52.73

-41.45

-77.78

-41.65

-36.66

27.90

31.18

-8.57

-41.21

1.72

-40.41

-79.99

-77.03

-63.81

-34.54

-53.50

1

3

2

11

4

16

15

32

30

9

13

5

7

19

17

12

42

21

48

14

18

24

51

28

34

37

23

8

62

79

29

36

54

56

25

72

45

33

43

22

10

35

6

27

38

111

133

127

47

50

1

2

3

18

4

11

7

19

60

10

9

12

14

25

16

13

79

17

42

22

5

37

32

36

21

31

30

6

54

50

28

35

48

20

26

86

24

40

51

56

23

55

8

52

45

71

92

127

58

49

24.39

23.65

14.09

16.95

30.85

32.68

10.41

17.17

13.54

26.54

23.02

33.14

25.88

20.00

26.52

40.97

10.74

7.23

16.54

10.72

22.84

20.57

25.88

37.10

9.95

27.43

11.66

39.22

33.63

22.51

29.45

18.38

25.36

18.22

32.93

3.41

14.52

12.19

34.64

32.41

133.78

4.65

19.47

18.68

25.30

15.06

-

32.41

24.35

24.30

18.67

25.26

14.13

21.53

35.25

35.82

9.39

30.27

17.57

27.48

24.54

33.89

25.87

20.95

30.50

46.62

16.37

17.59

20.65

11.49

62.16

22.79

27.85

58.24

8.58

24.65

12.77

40.00

19.06

23.19

23.04

30.95

30.61

28.58

28.16

4.01

14.44

6.80

39.20

34.73

68.13

7.37

14.37

20.64

28.70

16.24

1.25

21.43

16.20

32.17

18.61

33.50

13.84

10.98

25.98

31.01

7.86

14.66

8.62

15.28

12.13

33.20

29.05

22.43

19.46

39.77

5.69

6.74

13.41

7.39

14.01

24.61

12.73

47.58

7.22

25.09

10.01

69.92

18.77

15.42

14.99

25.01

16.25

11.95

21.05

7.05

6.15

13.94

32.25

30.87

35.74

8.84

3.66

17.88

27.97

12.20

1.71

20.57

11.57

19.52

16.49

34.46

13.63

13.44

25.91

31.48

7.41

22.80

10.87

17.00

12.36

36.44

28.66

22.47

26.41

42.35

9.36

11.75

16.22

7.32

5.82

24.67

16.50

75.76

6.26

22.60

9.36

71.95

16.02

18.48

12.46

41.25

21.59

19.79

17.56

8.57

7.12

10.26

31.61

32.59

30.38

14.58

5.43

22.63

27.95

11.24

4.31

14.26

8.03

28.09

14.54

27.91

20.01

3.07

24.29

19.06

19.28

23.85

1.43

14.77

8.82

28.57

22.41

14.44

17.51

24.33

1.09

7.51

16.66

30.94

46.53

9.41

7.23

55.80

17.04

21.78

14.80

56.92

3.91

15.17

15.54

32.43

9.74

18.27

22.93

8.61

15.18

36.32

23.76

9.37

13.87

9.27

0.76

16.90

31.18

10.32

-

3.98

15.32

16.91

10.69

27.62

21.06

3.72

22.67

18.33

20.54

24.18

1.85

14.02

8.04

28.77

22.33

14.88

20.77

25.15

1.77

6.63

15.55

33.72

35.80

10.73

7.18

51.89

14.04

17.84

14.93

55.43

1.85

15.10

11.50

39.93

11.00

19.72

20.09

9.49

11.85

21.71

24.22

8.67

15.15

12.51

0.54

19.01

24.17

11.34

0.40

2.28

9.63

29.24

Company

( Figures in Rs Crore)

* Since new entrants have been added and their ranks adjusted against previousyear’s performance, some of the previous year ranks are bound to change

51

52

53

54

55

56

57

58

59

60

61

62

63

64

65

66

67

68

69

70

71

72

73

74

75

76

77

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

100

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


49

55

44

51

57

67

59

62

52

63

58

56

66

60

61

45

64

68

72

71

73

70

115

86

65

69

74

77

80

96

76

81

82

108

85

78

75

93

89

79

97

95

87

146

98

104

102

83

103

142

Bharat Electronics

Shipping Corp(I)

Aditya Birla Nuvo

Dr Reddys Laboratories

Ultratech Cement

Sun Pharma. Inds

Tata Chemicals

ABB

Adani Enterprises

Bosch

Siemens

Unitech

Container Corporation

Torrent Power

CESC

Ispat Inds

Ashok Leyland

Great Eastern Shipping Co.

Punj Lloyd

India Cements

Pantaloon Retail(I)

Petronet LNG

HDIL

Sesa Goa

United Spirits

Bhushan Steel

Rashtriya Chem. & Fert.

Jindal Saw

Oracle Financial Ser. Soft.

Welspun-Guj Stahl Rohren

JSL

Indian Hotels Co.

IVRCL Infrastructures

Lupin

Nirma

Nagarjuna Construction

Century Textiles & Inds

United Phosphorus

HCL Infosystems

Bharat Forge

BEML

Crompton Greaves

National Fertilizers

Lanco Infratech

Tech Mahindra

Chambal Fertilisers

Jubilant Organosys

Moser Baer

Asian Paints

Sintex Inds

4068.18

3726.84

3878.46

3363.63

5509.90

2369.08

4036.68

5940.30

11162.16

4295.28

7686.56

2802.27

3347.30

3625.60

2774.97

8323.09

7929.77

3062.75

4470.69

3044.25

5023.30

6555.31

2379.87

3559.33

3148.87

4152.30

5171.19

5275.81

1792.97

3875.37

5050.78

1764.51

3686.03

2538.64

2333.06

3472.94

3462.50

1484.99

12411.44

2076.68

2751.34

3894.47

4140.65

1574.55

3604.70

2721.82

1976.22

1901.62

3577.10

1657.12

4.42

0.63

15.17

-11.53

12.18

42.44

2.28

38.71

12.93

13.10

71.78

11.91

9.48

30.23

11.70

11.38

8.27

43.39

99.79

34.99

57.59

18.99

97.75

76.45

14.50

9.08

47.02

39.83

15.50

51.38

5.24

14.51

57.87

28.74

3.89

20.96

9.54

10.37

6.68

14.71

12.71

15.28

7.11

190.68

30.71

4.94

22.83

-6.00

21.23

48.55

68

78

73

90

52

119

69

47

30

64

40

108

91

81

109

35

38

99

62

101

58

43

118

84

97

65

55

54

155

74

56

157

80

116

123

87

88

190

27

139

110

72

67

179

82

111

145

150

83

169

59

70

77

63

47

143

58

54

29

64

52

97

82

86

98

36

37

113

106

104

80

44

194

121

88

62

72

65

154

96

49

158

103

123

105

84

81

178

26

133

99

76

60

403

87

94

146

120

83

210

6926.19

8115.52

7667.84

6131.91

6258.40

5355.87

7452.02

4599.59

6547.38

3895.66

5105.01

16608.75

3876.49

6881.48

8369.07

12853.02

5562.24

7111.43

5320.16

6257.94

4743.90

3998.13

7414.34

3184.48

3903.03

8803.83

3734.05

4236.05

3200.01

5294.17

9208.57

3780.09

3481.77

2939.47

3345.98

4024.04

3614.22

4128.55

3056.87

3984.95

3381.13

2380.60

2906.09

4515.83

2171.80

3629.44

3646.28

4996.81

2001.79

3750.20

19.15

8.00

16.46

11.54

34.78

30.91

58.02

44.83

14.19

16.27

33.21

93.55

26.12

23.63

13.88

-4.23

23.94

26.99

36.32

31.76

68.99

19.84

292.35

77.34

15.31

63.06

19.01

15.15

8.48

60.26

46.80

13.19

26.73

29.05

3.84

40.33

18.04

7.28

19.81

13.77

49.28

16.86

12.36

90.27

40.53

-0.45

18.46

17.99

30.64

121.43

59

49

52

67

64

74

53

84

62

94

79

28

95

60

48

34

71

57

75

65

82

89

54

119

93

46

98

86

117

76

44

96

106

126

112

88

102

87

121

90

111

153

127

85

169

101

100

81

180

97

53

43

49

57

66

71

65

97

54

86

76

38

101

56

45

21

67

55

73

64

108

88

151

157

85

58

98

77

104

91

51

87

109

129

94

105

102

75

118

83

131

142

115

122

188

78

100

69

190

171

3212.95

5632.10

3646.33

4811.80

2696.99

4207.62

3571.68

1626.34

1337.66

2563.41

1590.88

2143.82

3183.92

2889.76

4586.48

2901.61

2148.98

4157.37

2414.57

3321.11

1783.36

1618.55

3637.22

2791.13

2009.32

1625.32

1538.91

1985.01

2812.62

1489.47

1788.06

2016.58

1605.98

1317.05

2584.98

1566.95

1303.90

1703.11

1006.26

1473.28

1705.70

930.75

1407.67

1593.11

1228.40

1138.27

1378.66

1969.55

928.50

1463.85

24.91

10.44

16.70

10.03

52.91

71.78

49.27

36.00

28.11

25.54

46.34

84.65

21.07

6.82

20.22

-1.36

13.43

35.52

118.67

50.38

63.29

26.89

400.42

85.29

49.72

33.83

6.11

94.58

19.26

130.33

27.56

12.11

21.51

48.25

6.39

51.60

21.45

51.15

19.05

11.04

65.04

38.03

2.69

15.50

39.91

11.36

43.36

-6.07

24.78

124.91

57

36

49

37

65

42

51

89

110

68

94

73

58

62

39

61

72

44

71

55

84

91

50

64

77

90

96

78

63

98

83

76

92

113

67

95

116

87

153

101

86

163

106

93

122

131

108

79

166

103

53

32

43

35

73

56

59

91

109

67

104

95

52

50

36

45

70

44

101

64

102

88

159

76

85

90

78

117

60

179

79

71

87

133

57

111

107

99

141

86

112

166

81

80

137

116

122

66

157

177


ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Bharat Electronics

Shipping Corp(I)

Aditya Birla Nuvo


Ultratech Cement

Sun Pharma. Inds

Tata Chemicals

ABB

Adani Enterprises

Bosch

Siemens

Unitech


Torrent Power

CESC

Ispat Inds

Ashok Leyland


Punj Lloyd

India Cements

Pantaloon Retail(I)

Petronet LNG

HDIL

Sesa Goa

United Spirits

Bhushan Steel


Jindal Saw



JSL

Indian Hotels Co.


Lupin

Nirma



United Phosphorus

HCL Infosystems

Bharat Forge

BEML

Crompton Greaves


Lanco Infratech

Tech Mahindra

Chambal Fertilisers

Jubilant Organosys

Moser Baer

Asian Paints

Sintex Inds

1282.39

1213.08

487.55

746.09

1738.37

1106.86

1302.56

779.37

364.27

1120.02

912.15

1372.59

1053.98

500.17

569.31

749.96

808.51

1742.68

453.76

1036.16

275.80

816.83

1603.15

2278.88

513.58

769.89

328.87

968.58

516.54

592.40

632.45

656.40

316.62

602.29

452.83

291.51

563.41

170.05

446.97

529.12

364.40

521.31

248.91

308.18

901.40

451.25

535.63

353.13

599.67

330.89

13.08

-14.07

6.16

-50.24

25.26

61.42

67.18

43.80

80.85

5.68

68.58

1.80

8.10

28.68

55.01

24.08

7.81

48.42

155.35

74.76

27.99

29.60

159.04

144.89

-20.88

23.91

4.34

207.21

20.06

125.17

-17.61

16.91

53.81

38.42

17.50

17.84

13.96

-37.58

1.93

15.63

11.59

52.34

-33.57

195.28

30.09

14.94

53.41

-25.90

32.38

63.69

49

51

98

72

38

53

47

67

131

52

60

45

55

95

85

70

65

37

107

57

169

64

40

29

93

68

144

58

92

83

79

77

153

81

108

164

86

242

112

89

130

90

186

155

61

109

88

134

82

143

45

34

87

30

35

61

56

75

180

49

76

37

52

95

107

70

58

43

202

71

168

63

67

54

62

65

120

119

92

142

57

72

175

91

97

149

82

135

90

88

116

114

101

288

60

94

112

84

89

179

6620.80

3667.08

4469.75

7598.27

4934.78

22233.30

3610.93

10167.44

6980.01

9889.19

6994.38

5219.23

9200.20

3413.45

2908.71

1248.52

1875.72

2607.20

2874.15

2880.82

2832.98

2782.50

2659.86

6671.52

5928.97

1223.99

1809.54

998.36

5093.03

1321.35

613.74

2904.45

1463.21

4722.02

1554.00

1188.88

1557.95

4116.39

1519.76

1888.50

1410.14

4748.66

1260.79

2507.80

2897.88

1604.49

1779.59

1072.98

7530.20

1857.03

-48.71

-40.93

-76.96

-16.22

-54.94

-4.40

-52.45

-58.15

-68.13

-18.99

-75.91

-91.67

-8.68

-58.63

-53.41

-76.05

-60.56

-57.08

-77.68

-51.60

-70.02

-48.58

-86.30

-43.34

-65.50

-77.71

-63.43

-76.81

-39.29

-84.07

-73.39

-64.80

-75.82

5.58

-50.56

-81.13

-81.62

-42.04

-55.83

-70.49

-74.44

-62.24

-55.34

-76.62

-83.21

-20.52

-60.33

-70.40

-33.04

-68.40

60

82

73

53

68

20

83

39

58

40

57

66

44

86

93

162

119

102

97

96

98

100

101

59

63

163

122

179

67

155

240

94

146

71

132

164

131

76

140

118

148

70

160

103

95

128

123

173

55

120

61

100

44

77

69

39

87

38

41

64

29

15

73

83

99

114

124

102

62

104

75

112

43

67

47

109

120

136

81

82

196

84

103

130

161

98

78

90

152

96

108

63

171

70

46

213

128

149

68

105

25.73

14.45

6.67

9.88

37.36

24.10

26.58

30.23

23.33

23.77

37.50

48.08

23.57

7.31

7.75

1.20

21.84

32.63

9.17

19.20

7.06

29.33

38.78

53.46

15.49

26.07

10.28

35.32

14.61

23.59

13.49

18.72

13.11

33.66

8.89

10.47

23.27

5.43

30.29

18.57

13.23

33.73

7.72

12.57

62.34

17.90

28.45

-

40.41

14.78

27.92

19.89

7.20

26.91

44.35

25.68

18.56

28.46

14.43

26.84

33.13

84.72

26.47

5.30

7.88

-

23.29

28.62

5.58

21.68

10.99

24.56

74.54

40.26

36.81

25.79

10.26

17.27

15.04

22.05

25.18

17.92

10.70

34.00

4.49

14.70

26.29

9.66

37.61

18.16

19.83

28.53

12.85

5.30

67.22

14.79

24.07

5.24

36.56

20.06

18.52

14.95

6.36

12.17

27.78

20.67

17.48

16.94

5.56

28.75

17.87

8.26

27.19

7.27

6.80

5.83

14.54

24.51

8.53

16.56

5.81

20.43

21.62

71.56

13.16

8.74

8.81

22.87

16.14

11.19

6.87

17.36

9.09

20.49

13.53

7.24

15.59

4.12

14.62

13.28

10.78

21.90

8.57

6.82

41.50

12.43

14.69

7.07

29.96

8.82

19.51

18.79

6.98

27.27

29.89

16.76

16.52

17.07

3.51

31.63

14.12

15.71

31.72

6.98

5.00

4.50

16.71

20.97

4.55

12.48

7.68

18.89

32.75

51.82

19.18

11.51

10.05

8.57

14.59

7.96

12.24

16.81

7.49

19.10

11.96

8.63

16.15

7.08

17.19

13.07

14.42

16.80

14.49

4.40

44.84

10.77

11.34

11.25

29.56

11.94

20.32

21.84

6.27

14.13

18.29

42.80

23.51

8.28

2.80

14.18

7.76

36.78

22.42

5.83

12.81

0.42

5.92

44.30

4.95

20.94

2.51

7.24

59.27

41.92

9.89

10.20

3.06

13.29

22.92

9.07

4.77

21.39

5.71

17.47

9.85

4.73

8.76

6.23

2.46

13.17

8.20

8.06

2.62

12.71

21.24

7.49

19.85

-

10.49

13.05

18.43

27.40

6.68

30.95

15.93

37.82

11.26

7.95

1.52

14.43

8.05

39.28

22.77

5.16

12.10

-

6.03

41.10

2.75

21.23

3.76

5.69

45.02

30.06

17.96

8.23

4.23

4.67

22.85

5.57

7.36

20.92

6.06

15.32

4.86

5.29

8.93

8.09

2.73

13.31

8.40

5.69

4.56

13.49

21.40

5.83

14.39

5.43

9.22

11.71

Company



101

102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

126

127

128

129

130

131

132

133

134

135

136

137

138

139

140

141

142

143

144

145

146

147

148

149

150

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


91

144

92

134

105

94

125

114

255

100

109

112

110

169

101

113

118

106

123

107

128

120

132

111

154

130

185

117

119

122

121

116

131

143

149

99

176

151

90

139

135

136

148

127

159

179

160

156

140

196

GNFC

Mundra Port

HCC

Bongaigaon Refinery

GlaxoSmithKline Pharma

Ruchi Soya Inds

Exide Inds

Rajesh Exports

PTC(I)

GSFC

Tata Tea

Zee Entertain. Enterprises

Apollo Tyres

Coromandel Fertilisers

Parsvnath Developers

Nagarjuna Fert. & Chem.

Cummins(I)

Bajaj Hindusthan

Aurobindo Pharma

Piramal Healthcare

Madras Cements

Patni Computer Systems

Cadila Healthcare

STC(I)

Jain Irrigation Systems

Gitanjali Gems

Omaxe

Essar Oil

MRF

EIH

Thermax

Hindustan Copper

Alok Inds

GTL

DCM Shriram Consolidated

Gammon(I)

Glenmark Pharma

Shree Cement

Essar Shipping Ports & Logs.

Vardhman Textiles

Kesoram Inds

Nestle(I)

Balrampur Chini

Triveni Engg. & Inds

Mphasis

Simplex Infrastructures

Dalmia Cements(Bharat )

Britannia Inds

Voltas

Apollo Hospitals

3433.91

818.58

3104.34

6034.61

1575.20

10908.48

3156.87

8187.62

3855.51

3556.43

1134.53

1041.99

3693.92

3762.36

1726.25

2193.59

2350.67

1735.87

2231.11

1902.25

2014.65

1172.30

1674.10

15774.13

1855.11

2654.33

1789.50

524.63

4406.55

1079.88

3177.10

1600.26

2122.04

1433.33

2489.55

2340.84

1371.33

2110.02

776.24

2294.67

2987.92

3482.19

1407.50

1593.01

1703.56

2809.50

1467.63

2581.72

3044.53

1123.81

25.36

40.47

29.64

4.24

2.14

27.51

51.55

24.08

4.03

7.03

7.59

20.09

12.20

81.69

39.65

20.71

26.37

18.58

19.05

19.73

27.74

17.48

16.22

10.04

32.72

19.57

90.20

14.49

18.32

15.01

52.72

2.16

17.50

55.44

-7.84

28.58

69.69

49.86

-24.22

9.44

35.26

24.61

12.50

-16.51

54.47

64.46

49.36

17.31

26.83

26.13

89

343

98

46

178

31

95

37

75

85

246

258

79

77

162

130

120

160

125

149

144

239

168

21

152

112

156

468

63

253

94

176

135

200

117

121

208

136

356

124

104

86

202

177

165

107

192

114

100

248

89

380

102

42

156

34

116

40

69

78

219

275

79

118

189

132

129

164

127

148

149

236

166

20

172

107

247

456

68

249

117

152

135

253

90

131

298

169

227

114

108

85

186

126

212

141

238

109

100

262

2863.85

5712.70

3982.49

2500.59

1963.33

5679.87

1996.52

6184.29

1700.26

2998.91

3084.72

2879.10

2479.50

2714.40

4634.77

3611.58

1798.04

5250.23

3480.71

2001.09

3263.18

2970.64

2291.00

7255.06

2435.84

3720.11

3559.04

21344.07

2396.81

2474.26

1909.01

1688.09

7870.41

2549.07

3523.37

2719.73

1935.36

2243.74

5763.63

3965.39

2724.10

1378.56

2662.18

2470.27

1420.13

2761.80

3454.19

1206.76

2006.13

1797.40

6.31

89.14

17.17

44.93

13.51

43.40

37.69

-11.34

275.49

-6.17

14.05

10.53

7.79

56.89

41.83

2.52

30.03

57.91

5.47

12.29

78.66

15.60

21.05

99.80

45.41

50.97

87.64

37.21

15.52

8.65

14.93

10.61

64.11

3.89

13.85

16.61

19.23

39.94

59.93

24.26

44.44

17.70

47.38

12.03

27.88

58.57

46.70

29.46

33.83

64.00

130

69

91

143

185

70

182

66

211

123

120

129

144

137

83

103

200

77

107

181

115

125

159

55

150

99

104

17

151

145

191

213

50

141

105

136

187

162

68

92

134

249

139

146

244

133

108

274

178

201

111

103

84

169

167

72

202

47

417

95

110

114

127

166

93

82

210

89

92

159

154

116

149

79

173

119

148

19

138

130

174

191

62

120

99

124

180

181

80

96

152

241

155

133

246

164

123

267

199

249

1845.70

2612.51

988.87

1152.21

1360.92

1084.21

1026.35

788.92

1479.56

1473.34

1804.05

2128.24

1233.16

794.44

1806.59

1667.16

1103.69

1434.53

1220.60

1016.47

953.85

2558.01

1053.80

524.89

929.26

1782.76

1196.49

3449.05

986.15

1305.23

736.14

899.71

1321.18

923.63

1145.33

1228.66

1028.25

672.81

3071.30

1172.14

981.92

418.42

864.17

783.71

982.67

731.86

1147.14

755.81

538.32

1238.04

17.51

250.04

9.38

18.20

13.91

22.04

53.08

155.26

457.13

7.92

16.86

9.98

26.00

55.08

23.51

-5.89

18.73

4.81

31.35

-3.78

43.14

15.81

19.44

21.01

95.23

134.90

272.53

22.93

19.64

11.20

27.10

37.73

28.97

-10.80

107.55

6.81

128.42

33.55

27.75

7.34

50.04

7.59

-4.60

13.25

17.55

165.29

52.25

22.93

41.38

64.34

80

66

156

126

109

138

149

186

99

100

82

74

120

185

81

88

136

105

123

151

162

69

145

254

165

85

124

54

158

114

193

174

112

167

130

121

148

208

59

125

160

288

178

187

159

195

128

192

246

119

74

156

130

121

92

134

167

294

331

83

75

69

119

213

77

72

126

82

127

108

169

63

135

235

223

153

289

47

145

94

193

175

115

110

201

96

230

217

58

103

174

256

129

165

143

319

154

183

264

155

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


GNFC

Mundra Port

HCC

Bongaigaon Refinery


Ruchi Soya Inds

Exide Inds

Rajesh Exports

PTC(I)

GSFC

Tata Tea


Apollo Tyres




Cummins(I)

Bajaj Hindusthan

Aurobindo Pharma

Piramal Healthcare

Madras Cements


Cadila Healthcare

STC(I)


Gitanjali Gems

Omaxe

Essar Oil

MRF

EIH

Thermax

Hindustan Copper

Alok Inds

GTL


Gammon(I)

Glenmark Pharma

Shree Cement


Vardhman Textiles

Kesoram Inds

Nestle(I)

Balrampur Chini


Mphasis



Britannia Inds

Voltas

Apollo Hospitals

684.55

470.40

250.07

477.74

758.48

318.32

438.57

233.72

120.74

498.90

396.03

463.25

416.75

383.14

609.84

154.85

427.19

187.52

418.97

417.26

708.88

538.69

347.10

173.71

265.03

151.95

496.52

-39.22

412.49

390.58

449.18

317.94

462.42

170.32

804.30

183.90

486.87

831.03

371.91

336.47

640.43

699.14

44.22

214.24

224.36

163.05

518.61

254.55

317.53

178.52

13.18

81.05

28.28

51.17

1.29

45.28

51.54

121.16

27.51

-6.14

7.53

82.75

62.76

103.57

71.41

-8.54

13.26

-50.54

33.04

38.20

31.42

43.46

16.24

35.21

66.05

62.44

189.18

-

69.19

18.05

46.22

-11.32

30.11

77.60

406.26

3.85

133.60

33.81

62.20

-2.27

60.51

28.81

-84.61

34.07

59.58

74.89

38.92

83.90

34.04

10.38

75

102

183

101

69

150

115

192

299

96

122

103

120

127

80

255

117

226

118

119

73

87

136

238

176

259

97

491

121

124

110

151

104

240

66

228

99

63

129

140

78

74

432

204

199

247

91

181

152

234

69

143

186

118

59

166

133

286

303

78

106

146

145

194

110

210

99

98

121

129

77

100

131

256

220

304

208

497

151

115

124

109

111

298

221

203

174

66

160

113

93

74

134

219

242

305

103

244

154

218

901.44

15460.20

1135.50

871.22

9874.33

432.35

3252.00

660.33

1533.95

696.98

3754.31

4787.02

884.70

1509.52

715.71

695.50

3333.33

815.17

859.89

4452.75

1529.15

1566.02

3132.46

624.90

2434.50

427.43

839.21

8906.82

713.85

3862.70

1905.21

8225.21

307.27

2098.98

451.76

563.88

3435.61

1734.34

1280.37

344.02

526.70

14139.51

1527.89

1359.13

3118.34

683.43

629.79

3317.37

1430.28

2447.75

-69.40

-53.46

-75.08

-31.34

36.09

-79.65

-47.00

-78.61

-8.90

-63.96

-28.11

-59.69

-61.65

-1.65

-85.96

-58.19

-49.39

-71.05

-51.94

-30.78

-68.12

-56.73

-2.50

-74.83

-42.70

-77.87

-83.60

-66.14

-65.21

-39.32

-75.49

-69.03

-74.26

-20.74

-60.21

-88.69

-71.21

-61.20

-86.55

-52.34

-76.12

7.90

-23.22

-55.55

-35.50

-79.10

-68.04

-3.57

-78.42

-13.04

191

26

167

198

41

277

90

229

134

220

81

69

195

141

215

221

88

203

199

74

135

129

91

236

107

279

201

46

216

80

117

49

316

113

272

247

85

125

158

304

254

31

136

149

92

226

235

89

147

105

166

27

126

285

88

205

101

162

242

219

113

66

195

260

117

244

94

172

229

95

123

150

158

188

138

220

116

34

212

97

85

33

289

182

297

119

65

131

74

342

199

59

215

163

122

156

216

153

93

173

20.20

8.17

11.00

25.54

39.51

14.69

24.39

26.18

3.29

16.18

17.34

13.87

17.78

26.40

22.62

1.35

25.43

3.18

23.82

29.66

42.80

15.15

22.41

23.71

15.66

7.75

33.33

-

17.42

16.64

38.14

27.39

15.04

13.13

58.58

7.19

37.83

38.70

7.87

10.45

39.04

98.90

-

14.23

22.47

12.31

30.26

25.27

38.71

8.22

20.79

25.11

8.77

18.98

45.66

11.33

23.15

32.77

13.25

19.55

19.86

8.59

11.59

19.66

18.58

1.79

26.04

13.94

24.65

17.82

46.22

9.32

23.20

20.35

20.82

10.79

38.87

-

9.69

17.07

32.42

48.06

16.08

5.15

8.30

8.55

29.95

35.13

5.57

15.72

40.60

81.02

21.46

10.90

15.73

19.47

30.38

17.51

48.87

13.28

23.90

8.23

6.28

19.11

38.63

5.60

21.97

3.78

7.10

16.64

12.84

16.09

16.81

14.12

13.16

4.29

23.76

3.57

12.04

20.85

21.72

18.13

15.15

2.39

10.88

4.08

13.95

-

17.21

15.79

23.53

18.83

5.88

6.68

22.83

6.76

25.16

37.04

6.45

8.49

23.51

50.72

1.66

8.67

15.80

5.90

15.01

21.09

15.83

9.93

22.45

8.60

5.74

18.32

43.29

5.53

19.96

1.52

20.91

16.63

13.62

9.73

11.13

10.88

10.89

4.81

27.28

11.40

9.54

16.94

29.53

14.61

15.78

3.54

9.53

3.80

9.05

-

11.75

14.53

18.49

23.49

7.41

3.91

5.13

7.59

12.84

38.73

6.36

10.79

21.16

46.34

15.91

7.25

12.66

5.35

15.86

14.85

15.80

14.76

10.86

26.07

3.50

4.88

34.13

1.46

7.93

2.52

1.26

6.70

27.58

28.32

5.94

5.58

23.68

1.03

11.94

2.63

13.03

15.85

20.27

33.06

14.11

0.79

7.85

5.21

22.29

-

3.90

20.12

8.84

15.40

9.36

8.46

26.95

3.77

28.37

12.34

31.13

5.34

12.83

11.88

-

7.00

12.96

3.21

23.65

7.40

6.84

9.05

11.92

32.17

3.31

3.20

35.37

1.18

7.45

1.53

0.95

8.03

29.07

19.16

3.44

4.86

21.99

1.74

13.01

13.04

12.22

11.85

19.53

20.62

14.21

0.62

7.09

3.69

13.27

-

2.15

21.34

9.03

20.04

9.12

5.78

1.70

5.40

16.68

12.57

13.08

8.19

12.03

11.28

15.54

3.95

11.93

3.14

23.30

4.89

7.75

11.23

Company



151

152

153

154

155

156

157

158

159

160

161

162

163

164

165

166

167

168

169

170

171

172

173

174

175

176

177

178

179

180

181

182

183

184

185

186

187

188

189

190

191

192

193

194

195

196

197

198

199

200

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


198

167

180

177

129

126

133

152

138

141

184

137

183

157

145

155

88

171

168

201

315

158

150

147

174

209

166

219

153

212

262

124

193

187

197

163

172

186

164

175

182

194

162

215

161

189

205

173

202

199

Monnet Ispat

Titan Inds

Uttam Galva Steels

Birla Corporation

Sobha Developers

Raymond

Wockhardt

Sun Network

Kirloskar Oil Engines

Usha Martin

KEC International

TVS Motor Co.

Dabur(I)

Escorts

Redington(I)

Zuari Inds

Ballarpur Inds

GMDC

Rolta(I)

Pidilite Inds

K S Oils

Maharashtra Seamless

Lakshmi Machine Works

Kalpataru Power

Biocon

Divis Laboratories

Electrosteel Castings

Gujarat NRE Coke

S.Kumars Nationwide

Varun Shipping Co.

Era Infra Engineering

ITI

Engineers(I)

Gujarat Industries Power

Orchid Chem. & Pharma.

HT Media

SRF

Aban Offshore

United Breweries

Indo Rama Synthetics(I)

Alstom Projects(I)

Castrol(I)

Patel Engineering

Godrej Inds

Kirloskar Brothers

Gujarat Alkalies & Chem

Tata Teleservices(Mah)

Mukand

Tube Investments(I)

Deccan Chronicle

1642.96

2993.74

3155.84

1709.85

1429.14

1312.67

1221.84

861.06

2184.12

1639.24

2813.74

3219.50

2088.98

2078.99

5771.01

2617.95

952.12

980.56

850.92

1533.59

2043.89

1491.17

2215.88

1734.47

832.51

1033.15

1331.49

872.15

1605.72

932.57

1464.48

1154.88

721.87

935.55

1197.24

1186.23

1620.18

657.92

1367.31

2552.31

1547.08

1886.62

983.30

724.65

1462.81

1136.04

1707.19

1910.39

1762.33

782.37

89.33

43.22

22.54

10.17

20.45

2.95

9.05

27.20

14.43

17.53

37.95

-16.48

30.29

18.56

27.23

9.22

-56.08

66.37

42.02

33.00

90.93

7.28

18.89

13.78

1.07

42.81

18.39

69.90

30.60

38.65

91.93

-34.55

26.62

17.59

35.40

14.14

-10.33

32.83

29.75

26.92

26.84

7.84

-3.03

10.57

13.11

8.48

21.34

6.40

9.12

41.53

170

103

96

163

201

216

227

329

131

172

106

93

137

138

49

113

285

277

332

184

142

188

126

161

340

260

213

320

175

295

194

243

376

292

232

236

174

397

209

115

182

151

276

373

195

245

164

148

158

353

274

115

95

155

197

185

207

341

125

173

119

61

147

138

51

101

111

376

371

203

216

175

128

159

293

329

206

425

190

342

314

137

388

302

267

223

134

435

220

122

191

139

231

349

181

222

170

136

145

396

2452.05

1577.77

3193.30

1686.14

3310.41

2723.83

2239.58

1668.82

1934.34

2888.10

2436.74

2185.17

1029.36

2325.50

1246.26

2224.59

2504.92

2056.33

2244.46

1406.60

1321.33

1429.99

1634.30

1702.55

1735.43

1195.66

2230.18

2310.91

2198.78

3270.35

2339.81

5221.46

1809.64

2154.84

3429.24

1427.98

1945.90

2709.20

1373.99

2618.29

2002.71

944.58

2090.76

1835.71

1647.50

1838.09

3437.99

2775.99

1353.95

2098.36

41.73

33.99

21.50

30.48

68.95

6.13

9.15

23.20

28.97

37.44

45.00

-1.24

42.84

0.33

2.19

6.10

-35.81

-1.74

16.66

69.85

196.36

23.38

8.95

12.54

33.25

40.43

29.27

39.60

11.96

25.45

82.91

-0.44

26.03

15.94

20.34

20.49

10.23

42.78

10.86

8.91

35.61

19.80

47.21

59.63

24.88

11.57

20.35

21.82

22.26

38.34

148

221

118

214

113

135

163

216

188

128

149

168

296

157

267

165

142

175

161

247

260

241

219

210

208

275

164

158

166

114

156

78

199

170

110

242

186

138

251

140

179

315

174

197

217

196

109

131

255

173

165

238

112

217

145

117

140

211

198

135

172

132

312

126

231

136

74

137

146

291

420

242

197

195

215

288

170

176

144

113

220

60

205

153

107

235

162

147

226

121

201

299

207

243

213

177

106

128

247

192

1067.83

436.17

711.04

1004.98

988.34

1398.29

1026.02

1470.67

914.99

865.50

495.17

821.58

528.32

1118.97

569.56

844.45

1267.99

1061.70

1304.01

642.48

643.29

1093.40

757.50

767.77

1328.20

873.99

1146.60

1108.04

862.40

914.84

466.21

686.22

1152.05

1137.00

688.10

915.73

971.56

1012.91

611.26

633.53

352.09

430.18

844.19

1058.42

662.06

1078.43

-200.59

774.13

717.97

1067.09

87.03

33.21

29.40

50.94

21.19

3.11

7.26

20.65

7.48

20.60

82.05

1.52

31.03

9.86

6.46

8.07

-36.61

26.58

13.68

31.66

288.69

18.32

30.53

19.51

41.05

61.24

41.27

101.80

47.30

26.39

60.39

-36.34

11.69

5.38

37.28

16.83

11.19

52.90

9.62

-3.88

3.39

3.00

20.06

157.77

9.97

21.38

-

5.81

9.47

29.04

141

282

197

154

157

107

150

102

169

177

264

183

250

133

236

181

117

143

115

216

215

137

191

189

111

176

129

135

179

170

272

205

127

132

203

168

161

152

225

221

327

284

182

144

210

139

497

188

196

142

196

287

202

170

147

84

123

89

140

161

326

149

251

118

209

152

68

142

97

219

402

128

191

180

124

206

148

203

190

160

310

106

113

105

218

151

138

171

200

172

280

243

164

247

186

132

498

158

173

144

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Monnet Ispat

Titan Inds

Uttam Galva Steels

Birla Corporation

Sobha Developers

Raymond

Wockhardt

Sun Network


Usha Martin

KEC International

TVS Motor Co.

Dabur(I)

Escorts

Redington(I)

Zuari Inds

Ballarpur Inds

GMDC

Rolta(I)

Pidilite Inds

K S Oils



Kalpataru Power

Biocon

Divis Laboratories


Gujarat NRE Coke

S.Kumars Nationwide

Varun Shipping Co.


ITI

Engineers(I)



HT Media

SRF

Aban Offshore

United Breweries


Alstom Projects(I)

Castrol(I)

Patel Engineering

Godrej Inds

Kirloskar Brothers



Mukand

Tube Investments(I)

Deccan Chronicle

263.87

228.33

202.72

591.17

305.34

165.15

304.04

677.54

229.36

275.45

286.07

125.90

383.85

25.05

107.59

132.53

236.09

508.80

441.29

265.39

194.13

319.06

485.13

222.33

273.93

437.73

95.55

249.97

253.05

439.10

224.51

-329.11

302.11

220.83

334.72

242.59

300.47

341.76

153.24

154.08

139.57

355.59

190.94

140.79

168.25

374.04

313.61

156.04

133.96

447.04

32.78

48.26

15.85

18.22

45.07

-44.63

-0.08

28.41

-14.87

28.99

48.49

-27.52

26.71

-64.92

57.50

-71.73

-50.48

61.61

45.04

45.63

147.80

-13.48

29.75

-4.06

17.57

76.08

-50.02

162.13

42.36

40.40

89.28

-

47.25

-18.51

74.88

14.13

-42.05

28.96

16.50

7.88

-18.14

41.10

28.24

32.82

-56.54

3.77

131.24

-19.33

-45.04

73.64

177

196

215

84

157

244

158

76

194

170

165

290

126

462

317

280

190

94

113

175

221

148

100

200

171

116

338

184

182

114

198

500

159

201

142

187

162

138

258

257

271

132

222

270

243

128

154

254

278

111

183

228

204

81

173

132

125

79

138

170

189

205

128

348

356

85

83

122

126

197

336

105

102

158

156

148

191

300

201

123

266

499

176

136

190

172

80

140

253

236

209

147

231

285

96

108

249

187

152

144

691.82

4092.54

388.07

1081.22

634.59

562.55

1128.33

6492.47

683.41

589.62

799.06

394.25

7612.88

334.27

898.62

406.12

819.51

1305.39

1495.84

2446.21

1524.96

887.75

635.63

741.07

2030.00

5721.22

434.11

1123.17

440.08

705.80

1056.77

442.08

2814.74

760.03

508.93

1261.44

414.58

1829.79

1777.20

204.97

1524.37

4093.63

878.21

2049.92

710.64

490.58

4306.62

154.67

582.89

928.17

-66.84

-20.90

-18.82

-38.11

-88.56

-74.40

-71.94

-51.56

-72.42

-75.86

-70.59

-60.00

-10.14

-54.38

-66.74

-55.53

-70.13

-77.74

-62.28

-43.69

-26.46

-67.43

-76.07

-81.00

-49.80

-39.24

-75.35

-74.63

-83.80

-40.29

-37.32

-66.81

-42.31

-52.75

-68.64

-72.75

-47.27

-87.26

-74.00

-66.56

-70.07

23.32

-80.42

-80.22

-80.22

-60.37

-39.42

-77.77

-52.16

-83.02

223

78

290

171

233

248

168

61

227

242

206

288

52

309

192

286

202

156

144

106

137

194

232

211

115

65

275

169

274

218

176

273

99

209

258

159

284

121

124

349

138

77

196

114

217

261

75

381

243

186

208

115

373

233

107

201

140

57

189

190

179

307

80

340

180

317

176

106

141

135

210

177

181

143

139

76

231

132

178

291

241

277

121

253

249

125

331

53

91

357

118

154

129

72

151

287

89

344

288

111

15.56

36.29

17.42

39.16

23.10

4.73

20.85

24.95

13.00

16.73

34.77

3.87

59.96

-

11.78

8.69

10.21

24.86

20.16

29.25

18.76

17.86

31.99

19.53

14.72

40.45

4.54

15.60

20.65

24.68

26.03

-

16.82

9.00

26.82

15.79

14.28

15.71

10.22

0.48

20.82

50.78

17.49

10.28

16.64

20.78

-

7.67

7.87

25.48

23.61

28.81

20.58

49.00

19.80

14.84

22.32

22.05

20.96

14.14

38.47

8.23

62.52

1.87

7.93

50.37

12.54

12.96

15.89

24.53

34.63

25.31

35.53

24.83

16.82

35.37

13.08

10.15

21.10

19.53

27.22

-

13.38

16.95

19.28

14.68

33.08

15.03

11.67

3.13

32.12

36.99

15.66

19.01

55.89

21.00

-

12.76

23.75

19.51

10.76

14.47

6.35

35.06

9.22

6.06

13.58

40.60

11.86

9.54

11.74

5.76

37.29

1.08

8.63

5.96

9.43

24.74

19.66

18.87

14.69

22.31

29.68

13.06

15.78

36.61

4.28

10.82

11.51

13.43

9.60

-

16.69

10.25

9.76

16.99

15.44

12.61

11.15

5.88

6.97

37.65

9.13

7.67

10.21

20.35

9.12

5.62

9.89

21.30

11.49

13.08

6.66

38.70

10.74

11.62

14.83

38.95

17.96

10.16

11.46

7.85

42.04

3.08

5.60

22.36

12.22

15.04

15.81

22.01

17.57

31.82

24.93

15.32

17.89

29.20

11.08

5.76

9.05

12.00

9.27

-

14.29

14.58

6.72

17.93

29.37

13.97

10.61

5.94

11.54

31.96

10.48

9.22

29.35

21.88

4.75

8.49

22.01

16.97

10.11

5.29

3.93

23.02

15.97

5.04

17.50

42.62

5.45

8.84

6.12

0.99

15.16

-

1.16

2.80

13.60

26.92

30.90

12.26

5.91

13.09

10.93

8.65

23.49

34.22

3.91

19.82

11.09

24.21

8.29

-

26.84

10.93

15.41

12.19

8.56

24.18

4.57

0.12

4.74

11.58

15.01

15.02

7.53

19.73

-

3.11

3.21

34.76

15.53

4.51

4.39

21.02

13.61

15.78

19.06

39.71

9.35

7.28

5.13

1.73

15.72

1.08

0.94

16.42

11.57

18.44

30.42

10.38

5.35

16.82

11.06

10.46

19.22

26.51

9.44

10.86

10.05

21.01

10.37

-

24.20

22.99

10.93

11.07

16.00

20.11

6.18

1.03

8.97

8.83

10.86

11.91

26.02

17.81

-

5.20

9.65

29.19

Company



201

202

203

204

205

206

207

208

209

210

211

212

213

214

215

216

217

218

219

220

221

222

223

224

225

226

227

228

229

230

231

232

233

234

235

236

237

238

239

240

241

242

243

244

245

246

247

248

249

250

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


240

319

226

195

370

214

165

190

204

203

181

218

200

191

188

296

221

192

225

178

216

270

253

210

366

170

236

206

227

220

252

237

230

224

239

211

229

238

248

242

228

291

235

208

213

207

223

264

222

251

Havells(I)

BGR Energy Systems

Jindal Poly Films

JK Cement

Hind.Nat.Glass

GlaxoSmithkline Cons Health

Shree Precoated Steels

Matrix Laboratories

PSL

Uflex

JK Tyre Inds.

Motherson Sumi Systems

ABG Shipyard

ICI(I)

Prakash Inds

Tulip Telecom

Sterlite Technologies

Mercator Lines

Eicher Motors

Ansal Prop. & Infras.

Great Offshore

Nava Bharat Ventures

Gujarat Gas Co.

Kansai Nerolac Paints

Gulf Oil Corp

Kingfisher Airlines

JBF Inds

Gujarat Fluorochemicals

Blue Star

Finolex Inds

Torrent Pharma

Ipca Laboratories

Su-Raj Diamonds

Aventis Pharma

Graphite(I)

Dredging Corp

SKF(I)

Deepak Fert. & Petrochem.

Marico

Hotel Leelaventure

Mcleod Russel(I)

Bombay Rayon

Tamil Nadu Newsprint

Ceat

Sanghi Inds

ISMT

GHCL

Binani Cement

Finolex Cables

Asian Hotels

2051.64

1504.84

1260.06

1458.25

1021.58

1276.86

1940.09

952.09

2043.91

1282.31

2816.16

1303.10

966.84

937.03

1255.81

1216.44

1683.89

803.12

2202.39

832.98

694.30

895.25

1192.92

1393.17

747.17

1922.12

2150.67

723.27

2196.72

1382.85

969.85

1060.93

2141.32

886.34

1064.09

705.32

1571.82

1054.20

1568.79

514.58

653.18

926.11

979.62

2334.79

846.97

1193.19

1068.41

967.08

1382.33

513.52

33.04

94.14

23.49

39.24

98.14

14.80

16.33

25.88

43.11

6.55

7.93

20.52

37.27

4.98

34.61

44.68

39.79

0.64

12.80

15.06

22.18

61.88

44.43

8.55

24.25

18.46

45.60

26.06

39.77

36.62

11.52

14.11

36.31

-0.05

29.12

23.12

16.98

26.34

14.37

35.11

8.07

89.24

10.02

9.17

3.46

-0.65

24.44

42.54

33.47

24.22

140

187

225

196

262

224

146

286

141

222

105

219

284

291

226

228

166

345

128

338

387

309

234

203

363

147

133

375

129

204

281

256

134

314

255

384

180

257

181

473

400

301

278

122

335

233

254

283

205

474

157

306

229

221

424

211

142

318

167

193

92

215

333

260

251

283

192

300

124

328

389

395

291

183

369

144

162

384

150

232

272

252

151

266

292

386

179

285

176

510

362

440

264

112

294

195

278

340

225

490

1171.68

1536.63

1323.40

1905.50

1460.16

913.11

1722.29

1457.71

1965.08

2379.80

2386.17

1229.83

3032.40

1126.92

1391.47

1410.96

1562.58

2103.23

1121.07

2768.87

2048.89

1445.33

934.70

926.70

2462.54

1790.20

1479.29

1816.59

1036.82

1759.09

1227.20

1178.37

1915.32

867.39

1524.33

1481.21

859.87

1354.64

832.11

3259.36

1846.87

1446.92

1691.28

1565.07

1845.78

1764.02

2020.65

1768.63

1119.10

1790.02

95.67

149.03

6.06

16.50

143.57

21.92

8.34

-3.31

25.97

14.80

2.46

24.72

85.44

-14.14

13.88

192.07

27.92

5.27

2.55

53.58

35.23

40.60

33.02

15.77

328.89

0.50

34.77

26.73

39.70

18.59

28.63

28.56

20.81

4.54

5.77

15.35

21.10

13.88

23.25

59.08

3.62

57.68

9.32

10.30

11.18

12.99

6.84

40.97

14.93

18.02

277

229

259

192

236

323

209

237

184

154

152

270

122

280

248

246

225

171

281

132

176

240

319

321

147

202

234

198

294

206

271

276

190

334

230

233

337

254

344

116

193

239

212

223

194

205

177

204

282

203

355

349

223

178

354

305

182

196

186

139

125

260

179

214

229

401

230

143

251

156

194

253

320

296

365

160

248

206

307

200

263

272

183

290

204

218

316

233

332

141

158

271

187

208

175

185

150

222

262

193

649.03

471.33

912.86

1053.34

857.17

646.35

611.86

687.90

565.56

637.44

533.92

402.45

734.46

762.97

909.75

445.13

539.51

902.13

458.33

1076.63

887.97

803.27

563.15

593.69

2053.89

198.87

596.96

990.69

263.55

554.00

585.25

607.66

646.63

706.85

697.91

1238.78

545.25

698.80

280.23

930.17

1113.03

591.96

640.01

513.26

685.00

536.64

502.54

417.64

641.52

1503.13

147.32

461.04

16.01

28.44

275.90

19.09

63.37

-29.70

68.22

31.44

-9.77

33.71

24.95

-12.27

36.04

59.27

30.37

60.56

10.88

15.53

42.55

92.18

31.61

16.02

-

-48.31

53.96

39.23

23.75

4.79

26.03

25.03

14.91

16.22

17.46

9.33

29.13

9.97

52.72

3.22

0.01

22.56

11.02

35.55

18.39

14.12

19.04

38.64

10.59

25.84

211

269

171

146

180

214

224

204

237

220

249

296

194

190

172

279

244

173

275

140

175

184

238

230

75

408

229

155

376

240

232

226

213

198

201

118

243

200

368

164

134

231

219

257

206

247

261

289

218

97

335

467

150

146

356

205

270

120

281

221

188

301

189

139

168

318

244

199

245

125

182

242

236

214

409

262

258

162

364

210

227

220

198

185

187

98

238

181

387

131

100

222

195

266

194

225

239

300

192

93

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Havells(I)

BGR Energy Systems

Jindal Poly Films

JK Cement

Hind.Nat.Glass



Matrix Laboratories

PSL

Uflex

JK Tyre Inds.


ABG Shipyard

ICI(I)

Prakash Inds

Tulip Telecom


Mercator Lines

Eicher Motors


Great Offshore


Gujarat Gas Co.


Gulf Oil Corp

Kingfisher Airlines

JBF Inds


Blue Star

Finolex Inds

Torrent Pharma

Ipca Laboratories

Su-Raj Diamonds

Aventis Pharma

Graphite(I)

Dredging Corp

SKF(I)


Marico

Hotel Leelaventure

Mcleod Russel(I)

Bombay Rayon


Ceat

Sanghi Inds

ISMT

GHCL

Binani Cement

Finolex Cables

Asian Hotels

177.60

129.59

256.47

385.54

203.84

297.46

301.61

-230.34

174.58

146.29

206.75

212.48

255.43

109.39

268.92

242.20

180.43

280.37

126.83

233.81

318.38

393.95

271.87

208.79

44.59

-226.48

213.58

456.35

259.27

158.44

213.02

204.00

73.22

236.88

231.35

212.55

276.15

195.09

201.05

267.49

72.43

203.01

248.91

228.61

198.92

181.39

214.42

343.59

146.15

225.93

37.90

91.33

69.99

27.18

141.72

30.32

0.56

-

35.00

3.94

77.53

11.37

39.63

-81.95

24.89

99.08

100.06

62.75

-0.70

16.94

37.33

119.35

73.04

8.10

8.10

-

35.19

22.66

133.79

1.81

28.58

14.12

34.50

-10.11

-14.25

-12.10

53.28

17.26

9.46

20.14

9.28

137.19

30.68

155.15

-15.47

-8.12

-1.90

72.04

18.86

39.62

235

286

179

125

213

163

160

498

237

262

211

208

180

315

173

188

231

166

289

191

149

123

172

209

428

497

205

106

178

253

206

212

370

189

193

207

168

219

217

174

374

214

185

195

218

230

203

137

263

197

255

359

229

127

323

161

130

251

254

241

268

192

196

68

169

263

309

206

257

181

157

199

224

188

430

500

223

104

279

227

212

200

400

141

137

153

198

211

195

163

363

320

193

311

155

184

167

182

262

217

667.82

1081.08

802.25

277.27

942.94

2503.83

382.04

1329.56

306.36

382.35

146.99

2111.67

356.95

1521.54

465.92

1137.09

415.19

652.54

616.29

307.59

897.67

845.60

1501.11

993.38

200.00

932.01

205.70

692.78

1336.21

353.49

1117.83

873.62

100.07

2012.39

425.35

630.56

720.03

480.69

3535.25

683.82

527.60

727.62

428.06

124.46

453.16

271.03

285.56

601.18

306.66

547.20

-79.41

-75.42

19.91

-76.14

-20.91

-0.66

-89.80

-49.38

-83.09

-62.11

-66.31

-33.26

-90.66

-27.01

-84.13

-58.74

-69.58

-75.31

-24.41

-89.44

-72.69

-56.64

-30.76

-51.66

-86.94

-61.24

-77.35

-83.91

-69.73

-66.99

-13.77

-46.95

-61.03

-6.01

-52.04

-70.80

-60.51

-54.37

-6.97

-59.81

-29.68

-59.53

-45.31

-86.99

-72.55

-78.35

-79.02

-66.70

-79.63

-62.74

228

172

205

327

183

104

294

153

319

293

386

112

298

139

266

165

283

230

238

315

193

200

142

180

352

185

348

222

152

302

170

197

419

116

281

234

214

264

84

225

253

213

278

396

271

328

324

241

318

250

157

134

349

293

290

187

148

184

225

304

379

160

145

209

167

175

275

183

327

169

155

217

202

211

261

192

318

137

133

299

283

246

426

204

319

203

224

301

146

239

336

227

332

311

245

286

276

226

263

268

22.12

17.92

14.52

25.17

18.71

25.17

40.13

-

14.99

9.72

12.50

31.85

21.88

7.89

21.84

42.07

18.67

18.72

13.76

15.01

22.88

39.20

28.25

20.18

1.22

-

23.24

32.30

66.06

12.85

26.57

23.22

9.68

20.43

19.15

12.50

29.47

14.35

51.18

16.14

4.24

20.46

17.63

28.95

15.53

18.64

20.06

42.10

13.86

8.78

38.92

46.66

8.26

21.78

15.02

23.39

56.15

10.18

18.49

8.68

2.88

37.94

19.78

51.56

19.86

34.69

12.29

12.75

14.82

14.15

22.70

33.60

20.78

21.04

14.58

-

20.83

33.96

33.42

13.22

24.32

25.15

8.52

27.83

32.63

16.66

24.15

14.62

63.31

14.03

4.27

11.27

14.93

10.37

24.68

27.67

28.10

31.74

11.89

7.66

15.16

8.43

19.38

20.23

13.96

32.58

17.51

-

8.88

6.15

8.66

17.28

8.42

9.71

19.33

17.17

11.55

13.33

11.31

8.44

15.54

27.26

29.09

22.53

1.81

-

14.44

25.12

25.01

9.01

17.36

17.31

3.82

27.31

15.18

14.35

32.12

14.40

24.16

8.21

3.92

14.03

14.72

14.61

10.78

10.28

10.61

19.43

13.06

12.62

21.51

10.98

12.09

18.53

14.07

30.48

18.87

8.79

8.29

6.79

5.00

19.35

11.19

46.17

17.62

25.18

7.38

8.62

11.68

11.09

15.30

17.47

22.36

24.13

7.18

-

14.39

25.96

14.94

10.49

17.36

19.50

3.43

31.76

18.72

18.83

25.37

13.99

27.21

10.87

3.72

9.33

12.31

6.31

14.17

12.64

11.56

15.92

12.63

10.67

7.00

5.61

10.52

18.18

15.70

12.74

12.66

-

4.15

4.83

2.37

9.84

16.62

6.43

15.82

15.39

5.98

21.02

2.86

19.40

29.27

35.17

13.34

8.60

3.36

-

6.45

44.24

7.92

5.15

16.04

13.30

2.92

16.29

12.56

21.95

10.22

9.51

9.14

29.17

7.23

13.08

11.52

6.36

12.56

8.38

9.44

18.18

6.43

25.71

6.62

5.06

6.37

17.06

6.64

11.41

12.61

13.17

4.35

3.50

0.65

10.56

16.51

50.24

14.23

11.53

4.22

8.98

3.14

18.22

24.89

25.40

10.76

8.39

3.83

-

5.47

42.12

4.53

6.90

12.99

13.15

3.05

19.09

23.52

32.94

7.59

11.14

8.47

33.20

7.85

11.12

9.66

1.84

17.44

10.83

13.82

14.09

6.66

22.13

Company



251

252

253

254

255

256

257

258

259

260

261

262

263

264

265

266

267

268

269

270

271

272

273

274

275

276

277

278

279

280

281

282

283

284

285

286

287

288

289

290

291

292

293

294

295

296

297

298

299

300

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


254

323

232

261

278

243

305

250

256

263

217

234

260

329

288

297

257

306

258

265

282

295

247

281

231

276

249

274

294

244

269

268

379

275

289

266

302

287

349

311

259

298

285

391

272

233

279

309

322

299

Jai Balaji Inds

Chettinad Cement Corp

Welspun(I)

JK Lakshmi Cement

Pfizer

HEG

Consolidated Const. Consortium

Asahi India Glass

Asian Star Co.

Suashish Diamonds

Colgate Palmolive(I)

Punjab Tractors

BL Kashyap & Sons

Ramsarup Inds.

Shree Renuka Sugars

KSL & Inds

Abhishek Inds

Orient Paper & Inds.

EID Parry(I)

Bombay Dyeing

Berger Paints(I)

Godfrey Phillips(I)

Sundram Fasteners

Gujarat Ambuja Exports

Panacea Biotec

Apar Inds

Jagran Prakashan

Garden Silk

Indraprastha Gas

Firstsource Solutions

Jyoti Structures

India Glycols

Koutons Retail(I)

Man Inds(I)

Prism Cement

Polaris Software Lab

Whirlpool(I)

Bannari Amman Sugars

Electrotherm(I)

Bayer CropScience

Ashapura Minechem

Adhunik Metaliks

Mangalore Chem. & Fert.

Gokul Refoils & Solvent

Balkrishna Inds

Fert. & Chem. Travancore

OCL(I)

Atlas Copco(I)

MindTree

Alembic

1277.49

930.18

1177.07

1108.31

737.43

946.87

1448.09

994.69

1305.10

932.09

1517.47

970.05

1542.74

1740.31

798.05

646.88

1186.67

1321.65

616.45

709.71

1339.91

902.93

1205.92

1829.09

830.73

1641.78

749.63

1676.28

713.11

489.64

1373.06

1305.06

793.46

1446.78

878.21

938.02

1797.40

653.22

1333.06

934.43

1488.67

1000.58

1623.11

2042.86

978.05

858.39

765.12

935.13

733.84

990.07

25.62

28.25

25.15

31.58

0.36

16.13

70.43

30.66

12.16

-0.15

14.19

1.43

90.91

35.23

-6.90

25.26

22.62

17.39

11.73

84.06

14.97

18.57

0.54

30.63

-0.11

16.02

25.32

20.31

14.64

13.16

41.21

47.07

97.18

29.25

14.31

3.73

21.76

-17.65

82.25

27.28

64.29

36.20

18.51

30.88

13.07

-41.15

-5.44

31.67

24.31

43.16

223

298

238

251

366

287

197

271

217

296

186

280

183

159

347

404

235

214

418

380

211

308

230

153

341

171

362

167

379

485

207

218

348

198

318

290

154

399

212

294

189

268

173

143

279

330

357

293

369

272

230

327

248

282

322

295

281

316

202

250

180

245

299

182

279

422

244

205

398

506

200

315

196

171

287

168

372

174

356

474

243

265

498

209

313

257

163

304

325

324

256

323

177

153

277

165

296

331

375

336

2189.24

1128.33

2354.43

1499.68

866.58

1454.96

948.66

1917.40

961.57

1550.28

701.09

857.48

1003.45

1844.08

1096.43

1317.22

1975.88

889.75

1299.06

2100.74

701.28

837.79

1208.78

1053.22

1264.20

1420.48

787.42

1364.37

747.50

2246.19

896.80

1262.94

929.16

1300.80

826.43

745.13

998.40

1011.07

1546.60

785.73

867.88

1614.93

1041.54

785.88

1112.09

1010.38

1349.98

757.93

742.26

937.79

94.18

64.73

10.88

19.26

34.22

0.72

88.39

7.89

8.37

37.94

1.30

5.59

48.20

164.98

57.21

49.40

27.97

24.12

9.38

21.73

14.91

33.48

19.76

81.38

37.06

52.17

9.14

16.18

19.40

91.52

25.40

6.69

83.37

30.33

27.29

5.36

15.15

29.72

78.10

24.99

48.51

69.29

28.58

71.77

28.25

-14.41

36.76

44.92

32.81

5.99

167

279

155

231

335

238

314

189

311

226

381

338

301

195

287

261

183

328

263

172

380

342

273

290

264

243

357

252

366

160

326

265

320

262

349

367

305

299

227

359

333

220

293

358

284

300

256

365

369

317

244

327

134

221

336

203

397

161

278

245

326

293

331

325

324

280

189

314

234

168

351

344

255

363

268

266

311

239

346

240

315

236

395

256

335

317

285

302

282

343

359

264

294

413

284

237

258

387

374

279

352.53

392.49

558.82

642.42

648.64

527.76

450.84

294.45

329.60

584.42

162.21

664.84

401.25

379.44

335.74

470.54

439.24

494.09

512.14

395.91

349.01

499.96

422.11

358.34

697.20

275.95

538.76

392.26

576.46

629.28

341.22

482.68

349.63

366.20

617.77

601.30

236.47

468.15

381.74

369.44

491.82

309.85

372.80

192.52

411.10

252.81

553.10

333.11

533.98

341.37

57.46

49.10

2.96

56.76

59.87

47.34

142.57

2.56

13.65

15.40

-42.18

2.76

35.79

103.91

50.94

32.40

9.96

183.98

-4.57

-1.68

26.52

19.56

12.63

18.09

29.33

30.61

5.41

9.27

23.30

-38.84

23.72

52.26

114.06

19.33

50.23

5.52

15.60

7.47

79.25

11.47

34.48

17.79

7.31

55.46

18.32

0.06

50.32

24.47

22.62

-11.31

326

303

239

217

212

251

277

359

342

233

438

209

298

311

339

270

281

265

259

300

331

262

287

324

202

369

245

304

235

222

336

268

330

320

223

228

391

271

310

319

267

346

318

410

291

381

241

340

248

335

358

332

204

248

250

276

385

313

311

216

317

178

306

384

361

277

253

395

208

252

320

241

269

296

207

368

215

275

226

114

321

290

404

295

246

197

373

233

365

286

273

334

279

435

278

340

272

329

234

261

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Jai Balaji Inds


Welspun(I)

JK Lakshmi Cement

Pfizer

HEG


Asahi India Glass

Asian Star Co.

Suashish Diamonds


Punjab Tractors

BL Kashyap & Sons

Ramsarup Inds.

Shree Renuka Sugars

KSL & Inds

Abhishek Inds


EID Parry(I)

Bombay Dyeing

Berger Paints(I)

Godfrey Phillips(I)

Sundram Fasteners


Panacea Biotec

Apar Inds

Jagran Prakashan

Garden Silk

Indraprastha Gas


Jyoti Structures

India Glycols

Koutons Retail(I)

Man Inds(I)

Prism Cement


Whirlpool(I)


Electrotherm(I)

Bayer CropScience

Ashapura Minechem

Adhunik Metaliks



Balkrishna Inds


OCL(I)

Atlas Copco(I)

MindTree

Alembic

190.06

327.84

129.71

335.15

457.29

276.90

136.03

120.85

57.75

99.54

307.64

114.02

189.19

117.17

102.70

94.05

129.20

340.54

4.90

52.15

135.43

181.83

135.40

140.81

217.16

116.01

177.37

125.59

323.24

98.01

122.91

301.53

114.65

136.52

348.26

100.39

63.80

78.18

134.91

71.75

180.40

114.13

76.65

94.19

207.20

44.42

202.68

154.27

147.66

145.43

58.42

47.80

-16.88

50.67

165.85

86.62

109.44

-8.71

32.70

84.13

44.66

-8.78

99.38

60.90

24.64

13.53

-6.85

39.17

-97.59

-8.38

14.11

23.40

-4.01

47.96

-6.13

60.81

29.19

17.09

21.91

-15.56

32.22

186.63

103.35

35.71

6.95

-25.47

140.75

-46.29

71.14

-34.08

9.56

16.19

34.52

107.74

25.99

-

35.05

11.81

29.53

35.37

224

145

284

141

105

167

274

298

403

329

156

310

225

301

324

342

287

139

488

412

275

229

276

269

202

303

236

291

147

331

294

161

305

273

135

327

390

363

277

376

232

308

365

341

210

429

216

256

261

264

264

165

226

164

207

232

367

252

425

402

171

261

302

344

327

326

243

150

177

389

265

233

240

301

159

345

246

283

139

270

306

287

393

291

117

250

456

235

333

280

214

294

388

418

215

495

230

245

274

282

321.76

1357.00

116.94

230.99

1563.62

459.24

511.90

649.99

965.64

334.65

5756.20

581.17

377.94

100.86

2194.20

1354.08

139.82

411.63

1282.08

579.73

1050.61

911.82

315.15

233.12

347.03

250.15

1325.06

124.25

1500.10

492.85

498.88

159.47

1465.79

175.29

510.01

483.51

354.60

916.74

107.40

924.10

165.51

268.67

147.59

489.20

290.53

1135.61

280.52

910.97

778.61

433.04

-83.18

4.59

-75.50

-70.17

-19.46

-71.91

-86.89

-59.23

-29.99

-24.19

5.14

-63.97

-89.96

-69.51

-8.79

-35.22

-65.55

-64.97

-25.42

-80.86

-27.98

-36.38

-63.77

-76.24

-84.68

-72.85

-65.49

-54.49

-10.07

-78.16

-73.74

-83.40

-51.80

-72.42

-65.83

-41.63

-18.51

0.11

-74.59

-29.71

-93.00

-81.74

-58.64

-

-79.88

-40.51

-73.20

-68.88

-41.20

-53.04

312

150

401

342

130

268

256

231

182

308

64

244

296

417

110

151

387

285

157

245

177

189

313

340

303

334

154

398

143

260

259

378

145

366

257

263

300

188

409

187

372

329

385

262

322

166

326

190

208

276

221

282

374

333

218

248

142

254

274

376

110

252

147

406

191

206

389

292

237

165

269

272

320

309

197

315

144

422

243

198

223

310

164

352

264

326

380

316

384

281

193

267

395

-

271

222

303

168

279

314

33.72

41.73

4.70

34.82

52.25

27.73

19.32

4.64

12.24

11.34

142.85

9.80

28.75

16.33

16.21

9.52

9.10

41.39

-

4.21

26.38

22.45

15.96

19.88

19.10

30.97

18.21

10.20

30.26

9.16

21.22

36.99

19.87

19.45

39.11

8.75

13.67

9.04

16.29

10.63

27.66

25.97

10.85

28.55

25.99

3.55

21.00

24.32

19.51

32.87

27.77

43.58

9.60

43.46

26.06

20.61

24.88

14.75

9.50

8.55

57.09

12.05

18.82

23.41

24.99

10.36

10.25

75.11

23.74

8.92

30.11

21.07

19.17

15.41

27.23

21.76

14.91

6.48

29.51

7.22

19.95

12.95

21.12

18.02

46.88

13.97

-

20.73

20.29

17.16

29.67

29.45

7.90

21.57

23.93

-

21.07

26.92

20.68

18.36

8.68

29.06

5.51

22.35

52.77

19.03

14.34

6.30

6.01

6.42

43.88

13.30

18.85

6.35

9.37

7.14

6.54

38.27

0.38

2.48

19.31

21.70

11.20

13.37

17.18

8.17

22.53

9.20

43.24

4.36

13.71

23.88

12.34

10.50

42.14

13.47

6.39

7.73

8.72

9.13

20.79

7.07

7.36

11.99

18.63

4.40

15.01

20.35

19.89

15.51

10.64

32.38

7.35

17.69

26.64

10.27

12.90

7.45

4.90

4.81

30.73

15.39

14.01

10.46

11.81

9.40

8.98

34.14

17.11

3.30

19.45

23.48

13.98

16.39

25.08

7.73

19.03

9.13

42.35

9.90

13.00

8.89

11.13

10.08

50.15

19.04

3.06

18.68

9.08

17.32

28.18

10.30

7.03

9.91

18.97

-

15.20

26.38

20.40

12.14

9.30

17.61

2.23

20.18

45.96

15.46

6.01

1.37

3.09

7.11

15.27

6.72

7.48

3.56

6.82

6.93

3.37

15.47

-

2.35

6.87

12.43

5.59

3.90

16.03

5.21

13.09

2.39

24.46

11.77

5.27

13.68

8.76

4.92

27.51

5.61

1.80

6.48

4.66

4.20

9.14

8.04

2.49

2.69

10.92

1.04

15.18

8.66

14.20

11.33

6.11

15.82

5.54

21.15

14.39

9.06

5.44

5.56

2.37

4.64

12.05

8.15

6.88

3.38

6.48

7.13

4.23

11.61

23.10

9.32

7.13

11.57

5.99

3.34

17.65

3.25

12.74

1.67

22.18

17.17

5.66

4.63

8.57

4.94

25.09

8.80

-

11.38

5.91

7.74

11.98

10.55

2.01

1.71

9.61

-

9.58

10.14

15.25

10.22

Company



301

302

303

304

305

306

307

308

309

310

311

312

313

314

315

316

317

318

319

320

321

322

323

324

325

326

327

328

329

330

331

332

333

334

335

336

337

338

339

340

341

342

343

344

345

346

347

348

349

350

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


271

290

246

283

340

307

301

333

327

245

328

308

314

277

267

273

364

303

280

292

353

336

331

310

342

300

304

286

344

335

332

293

316

381

326

362

341

367

241

313

371

317

368

318

356

284

378

346

347

320

Gokaldas Exports

Value Inds

Kalyani Steels

Century Enka

Bharati Shipyard

Balmer Lawrie & Co.

Supreme Inds

Subhash Projects

Atul

Nahar Indl.Enterprises

Gillette(I)

KRBL

Ingersoll-Rand(I)

Nahar Spinning

Madhucon Projects

Eveready Inds(I)

Amara Raja Batteries

South Asian Petrochem

Greaves Cotton

J K Paper

Godrej Consumer Products

AIA Engg

Radico Khaitan

Emco

P & G Hygiene & Health Care

Spicejet

Lloyd Steel Inds

RSWM

Manaksia

Praj Inds

Bajaj Electricals

Sakthi Sugars

National Steel & Agro

HBL Power Systems

Prithvi Information Solutions

Trent

Visa Steel

Blue Dart Express

SPIC

CMC

Carborundum Universal

Jayaswal Neco Industries

Alfa Laval(I)

Mirc Electronics

BASF(I)

Dhampur Sugar

Vishal Retail

Unity Infraprojects

Shrenuj & Co.

Hexaware Technologies

1005.82

1291.48

930.11

1183.68

645.15

1443.40

1314.46

1167.12

1001.05

868.01

591.72

996.53

500.07

880.94

738.43

847.18

1100.68

1004.96

1149.95

911.63

887.18

592.64

788.72

944.25

646.01

1294.99

2204.64

1165.47

783.85

701.62

1377.79

743.88

2154.22

998.87

1112.79

499.31

680.77

808.72

984.49

926.52

593.22

1472.59

649.37

1528.38

908.17

594.90

1005.31

849.55

987.37

468.80

0.60

15.33

7.22

20.69

78.27

12.85

12.90

44.37

10.94

-2.97

30.04

9.15

-16.95

-1.07

44.69

9.66

82.69

-1.63

8.14

7.23

17.03

48.45

37.66

43.96

19.71

101.15

27.76

12.80

14.18

15.50

27.15

-14.90

17.06

89.02

44.69

12.51

28.16

21.06

-54.87

-1.97

26.56

18.64

17.10

0.96

17.88

-39.03

66.81

56.50

12.06

13.60

264

221

299

237

406

199

215

240

267

322

428

270

481

316

365

334

252

266

244

303

313

427

350

288

405

220

127

241

352

386

206

364

132

269

249

482

390

344

275

300

426

191

402

185

306

423

265

333

274

499

234

208

276

241

522

184

201

297

258

259

462

255

367

263

427

308

366

228

217

280

317

499

385

348

406

352

140

226

338

360

214

271

130

414

312

470

413

344

110

246

453

188

393

160

310

242

365

401

269

491

901.08

1544.66

1053.09

1106.84

1744.39

724.43

1002.56

1219.84

1113.87

1644.22

601.81

1331.84

827.22

1481.51

1237.50

1232.98

800.64

968.46

699.91

1374.28

568.12

585.06

935.69

1052.86

526.49

1346.04

1574.07

1477.09

868.16

684.92

830.35

1684.86

985.42

828.30

956.96

805.51

1563.55

426.52

2996.61

623.92

775.50

940.81

534.67

739.63

514.94

1356.68

926.37

985.86

1082.47

882.78

12.99

24.06

22.06

1.18

45.17

20.19

26.35

74.58

24.82

4.11

16.04

34.96

30.70

19.38

24.06

-0.28

62.75

11.57

15.69

1.92

25.20

22.61

-1.39

33.53

20.51

3.76

-10.45

15.37

23.56

25.50

21.71

20.94

19.37

57.31

40.70

43.86

53.81

22.50

-9.67

8.82

39.30

2.33

16.65

12.08

14.44

49.68

119.81

59.26

20.84

9.74

325

228

291

285

207

375

302

272

283

218

406

258

348

232

268

269

353

310

382

250

417

411

318

292

427

257

222

235

332

385

345

215

308

346

312

352

224

447

124

400

363

316

424

371

429

253

322

307

289

329

297

224

287

250

232

353

298

323

277

184

389

259

341

225

257

227

399

283

352

212

415

405

265

300

424

216

163

219

321

379

329

209

292

383

330

372

254

448

90

367

375

270

411

334

419

275

426

348

276

295

451.34

440.34

512.47

463.11

578.61

324.84

250.62

306.50

433.13

521.36

425.41

360.66

702.34

525.38

492.57

550.40

333.10

384.80

375.22

392.58

150.50

525.13

242.06

376.55

346.64

27.98

-409.77

304.44

524.86

350.84

174.78

387.74

264.24

302.64

405.70

605.84

346.96

317.30

-383.76

303.53

351.88

199.92

270.19

254.25

339.68

411.08

271.16

355.64

218.45

680.43

10.69

10.88

12.88

0.10

136.37

20.17

10.69

152.97

44.65

-0.65

18.30

15.74

58.20

1.15

9.97

-9.95

36.70

39.70

25.38

3.53

35.71

23.38

3.96

26.76

19.05

-84.84

-

0.71

96.38

136.65

49.61

-0.44

9.03

26.20

7.50

56.35

9.58

26.81

-

30.70

28.44

63.69

16.55

7.61

11.96

-12.60

113.92

17.82

31.80

-4.22

276

280

258

274

234

343

383

350

283

256

286

323

199

252

266

242

341

307

316

302

444

253

387

314

333

492

500

351

255

329

428

306

374

355

295

227

332

345

499

354

328

407

372

379

338

292

371

325

400

207

249

254

229

228

347

328

357

440

302

211

274

292

232

212

231

184

348

322

304

265

449

237

352

305

308

386

500

298

330

415

444

255

349

350

268

259

291

343

388

353

324

438

355

351

297

224

434

299

401

163

fe

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Gokaldas Exports

Value Inds

Kalyani Steels

Century Enka

Bharati Shipyard

Balmer Lawrie & Co.

Supreme Inds

Subhash Projects

Atul


Gillette(I)

KRBL

Ingersoll-Rand(I)

Nahar Spinning

Madhucon Projects

Eveready Inds(I)



Greaves Cotton

J K Paper


AIA Engg

Radico Khaitan

Emco


Spicejet

Lloyd Steel Inds

RSWM

Manaksia

Praj Inds

Bajaj Electricals

Sakthi Sugars


HBL Power Systems


Trent

Visa Steel

Blue Dart Express

SPIC

CMC



Alfa Laval(I)

Mirc Electronics

BASF(I)

Dhampur Sugar

Vishal Retail

Unity Infraprojects

Shrenuj & Co.


83.09

114.11

123.85

79.78

170.65

141.55

113.71

87.22

68.74

94.98

194.67

88.99

95.59

96.89

103.34

21.57

170.15

97.29

162.15

114.56

184.22

158.45

63.40

104.25

190.54

-124.57

65.09

66.88

66.37

179.05

117.44

43.52

62.39

121.97

85.21

45.40

84.94

129.70

-293.94

123.51

160.98

129.97

142.81

63.32

106.60

-45.85

90.09

98.01

50.98

7.73

-19.15

54.20

-13.27

2.74

47.72

22.06

1.13

33.83

19.26

-41.36

24.22

19.67

40.78

-41.30

22.80

322.11

94.68

31.15

2.15

-8.84

26.07

59.60

11.70

53.60

33.75

-

46.70

-47.47

29.02

58.52

77.05

-59.50

14.25

108.57

-11.96

-5.85

94.95

30.97

-

35.38

58.98

105.91

25.67

-9.43

19.82

-

65.97

55.67

1.86

-94.35

356

309

292

361

239

268

311

349

383

339

220

347

337

335

323

466

241

334

248

306

227

252

393

322

223

495

389

387

388

233

300

434

395

295

352

423

353

285

499

293

250

283

266

394

319

493

346

332

413

484

289

341

237

337

272

271

277

366

385

216

225

339

357

213

324

488

315

340

222

260

234

292

390

358

238

496

421

258

407

276

361

281

399

383

296

412

424

293

498

307

290

373

275

352

312

178

401

374

409

247

240.83

36.07

187.91

103.16

176.72

362.78

297.00

177.02

128.62

87.07

2290.59

153.16

750.10

75.73

217.16

114.47

353.98

171.12

331.87

117.23

3378.51

1072.07

731.49

163.31

2368.77

337.43

89.11

64.36

237.51

1017.25

336.72

109.95

32.99

282.38

72.23

613.93

182.60

987.17

97.69

464.50

812.15

107.69

1682.98

129.98

525.04

168.14

128.69

137.11

124.74

287.30

-70.33

-68.72

-88.57

-60.33

-90.16

-47.44

-59.46

-89.08

-40.50

-79.97

-20.26

-53.15

-25.04

-71.85

-91.38

-70.83

-72.25

-65.62

-78.71

-63.81

30.62

-61.86

-35.21

-87.59

1.54

-80.00

-74.41

-81.11

-64.89

-67.93

-60.30

-52.28

-65.34

-66.19

-86.49

-46.69

-61.88

-31.97

-64.92

-65.03

-42.31

-81.20

3.95

-58.74

-22.49

-50.75

-92.62

-88.18

-64.42

-70.77

337

475

357

414

365

297

321

364

393

430

109

382

210

439

345

402

301

369

311

400

87

174

212

374

108

305

427

450

338

178

306

405

479

325

440

239

361

181

421

267

204

408

126

391

255

370

392

389

394

323

328

473

247

425

228

346

341

250

440

381

170

407

305

423

186

391

284

369

257

409

185

174

298

280

194

240

400

404

348

159

322

433

479

323

365

295

372

270

419

278

273

360

251

411

347

403

235

294

399

308

10.55

2.90

15.46

2.90

18.57

26.76

20.39

18.99

8.03

0.45

27.59

15.18

9.80

2.29

9.59

-

28.33

14.43

29.36

11.79

98.42

20.63

13.66

17.11

37.91

-

-

0.09

7.81

43.76

41.84

7.77

9.54

22.17

15.70

5.38

12.44

22.04

-

29.07

27.61

43.12

33.86

13.60

17.48

-

14.99

16.88

14.02

-

17.24

0.96

19.80

3.61

29.89

25.98

22.15

36.00

8.57

12.93

26.39

15.89

10.34

12.38

9.28

-

19.31

16.22

40.87

12.11

105.70

15.72

13.98

13.67

30.85

-

-

14.58

11.50

58.37

33.06

24.47

9.43

13.38

24.02

8.15

6.48

20.07

-

27.60

21.41

21.55

30.04

14.44

16.51

21.80

19.77

12.68

18.13

16.70

9.22

7.39

11.76

7.21

9.78

19.54

11.34

7.15

6.17

5.78

32.35

6.68

11.56

6.54

8.35

1.75

21.25

10.05

23.17

8.34

32.43

27.08

6.78

9.90

36.19

-

4.14

4.53

7.64

26.14

14.14

2.58

6.33

14.73

8.90

5.64

5.43

30.41

-

19.80

20.76

13.81

26.71

8.56

20.70

-

9.73

9.94

4.71

0.88

12.89

5.94

16.55

7.10

9.61

19.24

14.17

9.33

6.46

10.26

30.22

7.54

10.73

13.30

8.44

0.41

17.77

8.55

26.24

9.32

32.20

20.81

5.98

8.61

32.61

-

2.52

9.94

7.32

20.70

9.72

7.71

6.62

11.11

14.23

8.61

4.29

28.44

-

15.91

18.19

6.87

24.79

10.59

19.77

22.32

12.88

10.17

5.59

17.01

4.73

0.99

8.52

1.13

16.66

6.02

3.89

4.99

3.48

0.27

19.84

5.49

13.77

1.36

6.40

-

8.57

5.53

9.58

5.08

16.70

18.28

4.19

6.83

20.34

-

-

0.02

5.23

21.88

5.31

4.05

1.17

6.72

5.73

6.53

6.34

8.65

-

9.52

16.38

5.85

14.09

2.26

6.54

-

4.04

7.07

3.10

-

7.03

0.34

10.36

1.70

20.22

5.49

4.31

5.40

2.84

7.59

20.86

5.42

7.63

7.22

8.15

-

7.81

4.37

11.50

5.40

15.46

16.76

5.68

6.19

16.64

-

-

4.27

4.48

14.24

3.56

10.90

1.24

6.07

11.79

7.12

3.86

7.52

-

6.78

12.51

2.12

12.56

2.25

6.50

10.51

4.16

7.05

3.41

28.75

Company



351

352

353

354

355

356

357

358

359

360

361

362

363

364

365

366

367

368

369

370

371

372

373

374

375

376

377

378

379

380

381

382

383

384

385

386

387

388

389

390

391

392

393

394

395

396

397

398

399

400

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


397

372

338

355

337

363

312

409

434

359

354

339

369

408

396

343

351

321

418

411

374

350

334

377

361

365

348

352

426

375

386

410

376

358

380

330

388

360

389

436

407

415

383

463

384

394

464

404

382

395

Sadbhav Engg

Honeywell Automation(I)

Transport Corp(I)

Novartis(I)

Sunflag Iron & Steel Co.

Aarti Inds

Elecon Engg

Texmaco

ICSA(I)

Bata(I)

KPR Mill

Madras Aluminium Co.

Unichem Laboratories

Nectar Lifesciences

West Coast Paper

Chemplast Sanmar

DCW

Clariant Chemicals(I)

Godawari Power & Ispat

Sarda Energy

Elder Pharma

Emami

Philips Carbon Black

3M India

A P Paper

Ruchi Infrastructure

JB Chemicals & Pharma.

Supreme Petrochem

Varun Inds

Wheels(I)

Rallis(I)

Tata Metaliks

Savita Chemicals

Sujana Universal Inds

Nitco

Tamilnadu Petro Products

Meghmani Organics

Surya Roshni

Fag Bearings(I)

ITD Cementation(I)

FDC

Time Techno

Jagatjit Inds

Ankur Drugs

Surana Inds

Ratnamani Metals & Tubes

Sanwaria Agro Oils

Abbot(I)

KEI Inds

Kirloskar Ferrous Inds

870.05

866.13

1198.38

553.13

989.48

889.42

723.79

826.94

670.69

867.21

573.96

472.97

575.73

735.95

583.06

640.08

751.31

861.21

832.56

628.34

551.20

583.71

1033.18

608.41

578.88

969.22

552.75

1466.63

856.80

1130.21

677.47

1031.64

905.05

909.98

633.51

781.47

587.20

1352.36

648.26

735.04

489.61

470.82

559.09

673.72

798.93

845.09

938.12

622.42

874.69

726.58

78.08

34.65

10.52

2.27

19.52

25.80

15.94

92.05

101.72

12.57

19.17

-11.97

6.62

72.75

5.14

4.63

13.36

-5.75

88.81

69.13

22.69

13.17

3.46

20.51

18.86

10.84

6.85

-1.04

15.24

12.65

8.08

51.48

13.62

2.06

38.46

-5.83

26.74

14.14

18.50

49.29

14.37

32.35

23.10

80.41

3.05

47.94

110.60

16.53

44.75

38.49

321

324

231

458

273

311

374

342

393

323

444

496

440

367

436

407

360

328

339

415

461

434

259

421

438

282

459

193

331

247

391

261

307

305

413

354

432

210

403

368

486

497

453

392

346

337

289

416

319

372

441

353

213

404

290

332

355

475

534

311

444

407

405

480

394

359

347

254

471

519

467

423

235

429

442

270

420

161

321

233

354

339

301

261

458

288

454

198

399

436

478

528

463

517

305

387

469

409

363

415

656.54

546.58

544.64

557.92

797.18

835.90

1012.71

649.69

729.42

529.66

1259.86

684.38

597.76

951.72

973.59

1414.89

991.04

508.45

741.73

865.13

809.19

423.06

846.02

393.63

1102.79

776.53

736.41

606.64

881.57

728.97

522.28

591.95

627.90

711.41

782.73

798.01

690.00

672.95

433.71

780.96

494.47

594.44

608.41

893.11

1001.10

597.90

377.69

330.38

813.38

545.37

36.13

32.88

17.15

19.88

9.88

18.20

35.99

40.38

108.11

15.69

36.73

21.50

12.91

22.71

78.11

54.81

37.71

-10.65

40.97

79.89

25.86

3.66

15.32

26.70

5.94

32.54

5.18

16.73

89.82

27.16

9.01

31.06

21.92

21.94

39.98

-7.65

33.12

5.99

22.09

24.73

21.30

48.52

4.75

77.46

70.66

16.02

97.20

-2.97

21.33

24.63

394

421

423

419

355

343

298

395

373

425

266

386

408

313

309

245

306

433

370

336

351

448

341

455

286

362

372

405

330

374

428

410

399

377

360

354

384

390

443

361

435

409

404

327

303

407

461

473

350

422

402

427

408

407

310

318

306

410

446

412

269

371

381

303

378

273

313

370

384

403

337

428

309

460

252

358

322

388

409

368

404

418

392

360

373

286

390

340

445

345

429

431

361

398

356

391

483

451

333

423

282.61

234.35

262.99

448.42

294.08

282.47

236.73

243.56

365.54

251.38

508.74

374.05

428.02

283.16

399.18

253.17

308.41

309.42

384.08

401.54

383.59

289.00

238.33

290.30

416.43

173.16

463.19

189.02

377.70

177.68

307.54

192.43

250.23

390.30

496.88

365.46

407.46

183.04

318.10

346.33

375.31

378.43

395.51

210.74

174.76

225.85

125.27

231.02

207.07

300.15

92.72

30.25

39.95

15.40

13.13

10.04

25.99

49.30

242.78

18.58

52.93

12.47

15.27

35.89

71.93

2.92

21.30

-0.26

87.26

109.50

18.60

-13.79

47.73

29.70

8.14

20.38

9.99

10.34

272.34

11.12

45.22

35.08

20.20

33.70

70.77

-3.25

43.94

8.98

28.46

220.77

13.02

81.02

3.09

100.55

20.97

60.67

47.20

-6.02

36.36

14.06

366

392

377

278

360

367

390

385

321

382

260

317

285

365

299

380

348

347

308

297

309

364

388

363

290

432

273

413

313

425

349

411

384

305

263

322

293

419

344

334

315

312

301

404

429

396

463

393

406

356

417

390

381

257

336

337

382

405

453

366

283

284

271

370

354

345

339

293

372

377

288

282

406

360

260

420

240

396

457

407

367

421

371

307

309

267

314

399

344

452

285

369

263

454

418

426

466

346

411

333

fe

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Sadbhav Engg


Transport Corp(I)

Novartis(I)


Aarti Inds

Elecon Engg

Texmaco

ICSA(I)

Bata(I)

KPR Mill



Nectar Lifesciences

West Coast Paper

Chemplast Sanmar

DCW



Sarda Energy

Elder Pharma

Emami


3M India

A P Paper



Supreme Petrochem

Varun Inds

Wheels(I)

Rallis(I)

Tata Metaliks

Savita Chemicals


Nitco


Meghmani Organics

Surya Roshni

Fag Bearings(I)

ITD Cementation(I)

FDC

Time Techno

Jagatjit Inds

Ankur Drugs

Surana Inds


Sanwaria Agro Oils

Abbot(I)

KEI Inds


90.35

97.51

62.12

150.45

91.81

80.42

112.36

108.66

160.93

70.16

137.71

99.17

107.30

121.67

114.38

52.78

81.91

69.71

131.73

161.15

87.69

111.81

132.93

110.43

73.59

52.35

72.82

44.27

40.39

70.46

164.58

121.49

100.42

54.80

75.68

14.28

61.54

52.48

143.22

26.84

87.10

91.99

39.36

83.34

56.97

164.86

67.60

106.22

72.62

84.10

69.04

20.76

-0.40

10.31

3.47

33.72

16.70

129.77

113.72

14.08

18.28

-55.91

-8.18

51.14

19.74

-20.38

45.23

-19.92

88.91

120.36

28.22

42.05

104.82

32.86

4.90

38.68

-18.94

-30.51

24.24

8.52

90.82

121.62

40.33

22.95

21.40

-19.28

4.77

7.10

13.71

122.92

-2.05

56.45

19.24

83.25

6.59

43.23

257.48

17.03

14.49

4.16

345

333

396

260

344

360

312

316

251

380

272

330

318

296

307

409

357

382

281

249

348

313

279

314

369

411

372

431

439

379

246

297

326

407

366

474

397

410

265

458

350

343

442

355

404

245

385

320

373

354

405

328

375

248

314

379

297

414

338

377

269

162

267

330

299

362

392

316

353

343

355

335

369

325

350

435

310

371

444

368

317

398

346

420

376

470

382

411

259

476

313

381

442

417

404

273

468

308

372

329

425.94

685.81

267.89

780.78

162.36

209.66

335.19

554.55

404.82

567.77

104.37

934.88

545.65

234.54

217.26

178.97

156.33

391.64

149.61

193.74

422.40

1257.61

94.78

1065.58

114.24

231.42

307.03

107.04

60.69

133.15

458.35

187.53

194.18

51.77

100.21

83.13

185.13

64.22

378.02

94.35

535.13

455.23

261.26

165.62

99.64

184.50

382.80

622.13

66.37

159.82

-72.95

-55.85

-67.80

-25.94

-62.01

-34.17

-84.79

-63.97

-79.79

-50.10

-78.80

-36.55

-7.92

-37.49

-47.23

-69.80

-71.18

-45.21

-76.11

-87.32

-43.00

-29.07

-82.97

-48.95

-47.86

-62.87

-39.93

-61.14

-73.75

-47.94

-15.89

-56.43

-55.97

-74.45

-88.24

-51.62

-76.05

-66.49

-60.10

-65.56

-15.06

-73.50

-36.13

-50.48

-71.73

-81.54

-37.82

-21.80

-87.38

-78.22

280

224

330

207

376

346

307

249

287

246

413

184

251

339

344

362

380

289

384

355

282

161

423

175

403

341

317

410

453

390

269

358

354

459

418

436

359

452

295

424

252

270

332

371

420

360

292

237

446

377

256

258

324

300

383

410

200

259

214

296

370

266

358

394

386

359

364

343

354

262

337

230

362

207

438

355

368

420

432

427

363

382

377

447

321

457

334

452

313

421

353

238

387

405

397

306

356

330

366

339

18.75

27.77

10.83

21.68

14.83

12.98

28.39

28.37

30.40

20.32

15.60

17.45

18.04

29.56

20.52

2.56

11.61

10.27

24.73

30.07

17.90

32.09

37.47

23.31

3.97

20.54

11.16

12.44

5.66

14.56

40.71

36.18

24.76

5.76

10.27

-

9.23

11.15

25.00

2.61

17.52

16.78

4.45

30.13

18.55

39.86

34.58

29.62

21.14

16.34

18.14

32.24

16.27

22.79

14.25

10.21

29.22

17.46

55.25

18.94

17.56

54.27

24.29

26.99

28.63

9.43

7.93

14.13

25.46

22.23

16.32

19.67

14.59

22.53

6.27

14.10

16.86

18.85

19.24

16.28

27.44

20.72

22.70

6.62

13.07

-

14.44

8.82

29.76

2.50

19.37

18.73

4.27

31.15

21.28

45.66

14.36

24.41

26.45

16.90

13.76

17.84

11.41

26.97

11.52

9.62

11.09

16.72

22.06

13.25

10.93

14.49

17.95

12.78

11.75

3.73

8.27

13.71

17.76

18.63

10.84

26.43

15.71

28.05

6.67

6.74

9.89

7.30

4.58

9.67

31.51

20.52

15.99

7.70

9.67

1.79

8.92

7.80

33.02

3.44

17.61

15.48

6.47

9.33

5.69

27.57

17.90

32.15

8.93

15.42

11.08

19.63

13.42

29.31

12.23

8.50

12.93

10.22

21.48

13.43

12.64

39.94

22.07

10.38

17.47

7.25

7.84

15.30

13.25

15.21

10.64

19.29

8.85

26.75

6.74

6.44

12.83

12.26

7.00

11.33

18.00

12.14

13.89

7.64

11.15

2.05

11.33

7.72

35.46

1.92

21.81

14.69

5.68

9.04

9.11

22.33

9.87

26.65

9.46

18.45

6.09

7.52

2.38

17.58

4.41

4.12

9.28

8.35

16.57

5.89

13.83

13.80

13.41

11.37

14.05

1.01

4.76

3.69

11.41

19.22

12.45

15.89

8.64

11.12

2.86

3.67

9.35

1.60

2.49

2.29

18.48

6.75

6.85

2.47

8.05

-

6.40

1.51

12.27

1.23

13.43

13.49

3.15

9.43

4.06

10.65

4.62

10.99

5.01

6.75

5.44

9.02

2.82

16.37

4.48

3.71

8.79

6.61

17.72

5.21

12.13

33.59

16.70

13.20

11.98

3.79

3.04

4.80

11.84

11.47

11.75

12.78

2.36

9.99

4.95

2.32

13.73

2.18

2.63

2.59

9.27

4.33

5.93

2.17

8.31

-

8.82

1.25

13.47

0.55

15.03

11.01

3.60

8.76

3.97

11.24

2.74

11.23

6.65

8.47

Company



401

402

403

404

405

406

407

408

409

410

411

412

413

414

415

416

417

418

419

420

421

422

423

424

425

426

427

428

429

430

431

432

433

434

435

436

437

438

439

440

441

442

443

444

445

446

447

448

449

450

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


357

398

420

438

387

406

412

403

449

494

345

416

325

447

435

413

392

393

405

439

428

414

324

399

401

385

456

373

425

427

440

419

431

400

448

390

467

402

432

469

423

446

455

454

450

424

417

422

442

452

Rico Auto Inds.

Mastek

Gati

Century Ply

Ahluwalia Contracts(I)

Shri Lakshmi Cotsyn

Alps Inds

Walchandnagar Inds

Zylog System

Titagarh Wagons

Force Motors

Kohinoor Foods

Samtel Color

Nilkamal

JMC Projects(I)

Agro Tech Foods

SIL Investments

Sangam(I)

Mahindra Ugine Steel Co.

Federal-Mogul Goetze(I)

Piramal Glass

Goodyear(I)

Shah Alloys

Spanco

Lloyd Electric & Engg.

Sujana Metal Products

JVL Agro Ind

Spentex Inds

Sona Koyo Steering Sys.

Eskay KnIT(I)

Balaji Distilleries

Ciba(I)

Paper Products

Hindustan Motors

Anik Inds

Classic Diamonds(I)

Pennar Inds

Pricol

Salora International

Hatsun Agro Product

Hindustan Sanitaryware

Swaraj Mazda

Kajaria Ceramics

Kpit Cummins Infosystems

Voltamp Transformers

Kirloskar Electric Co.

Garware Polyester

Bharat Bijlee

Seshasayee Paper & Boards

Hindustan Organic Chem.

708.71

583.27

552.07

594.08

880.09

845.24

634.27

633.10

605.94

554.80

930.54

635.07

786.47

887.51

914.99

1010.64

791.34

693.39

863.42

617.74

478.68

890.43

910.18

565.45

665.04

750.92

1154.88

777.34

686.32

651.98

1208.57

468.77

569.80

704.66

728.98

708.13

559.65

633.58

1108.89

863.19

517.97

667.52

504.78

480.44

555.35

727.77

574.68

562.73

495.04

574.49

-8.01

17.08

20.71

40.40

31.50

40.17

47.80

76.50

50.20

97.12

-5.16

7.78

-33.41

66.58

82.91

-2.65

10.22

25.53

29.65

16.13

21.69

7.33

-27.23

32.55

35.48

3.40

66.90

3.34

17.88

35.91

21.66

-8.35

13.64

5.72

58.13

8.21

11.84

3.14

25.53

47.48

8.68

10.87

21.25

52.14

36.86

23.06

9.73

19.92

8.18

13.75

381

435

460

425

317

336

410

414

422

457

297

409

351

312

302

263

349

388

326

417

491

310

304

449

395

361

242

355

389

401

229

500

446

385

370

382

452

412

250

327

472

394

480

489

456

371

441

450

483

442

309

434

459

483

343

364

477

526

496

552

240

377

199

411

433

224

330

397

346

412

502

289

187

479

438

326

335

319

381

447

237

426

431

345

455

350

432

358

268

379

448

368

487

544

494

374

417

451

457

428

774.30

428.26

621.86

413.19

579.98

909.02

1086.04

556.21

510.21

529.06

849.31

791.46

1036.07

620.29

636.87

182.37

1000.62

1017.42

702.32

680.50

1166.02

386.05

856.14

870.38

575.20

644.48

492.21

827.75

509.27

673.95

239.98

426.55

427.99

442.99

635.85

702.74

348.81

690.09

324.05

264.72

568.13

448.73

620.22

421.40

255.10

384.46

683.76

342.93

744.94

497.25

22.84

11.40

54.29

43.80

59.99

32.74

53.93

13.16

72.37

125.63

8.35

23.41

-15.26

90.69

77.65

6.74

29.07

11.68

21.30

17.19

32.34

-0.29

-12.92

37.04

22.19

25.49

41.66

-0.30

40.84

27.02

21.06

13.16

17.87

-13.79

21.55

12.61

12.29

12.11

13.79

45.72

7.71

18.41

5.73

13.08

49.43

24.06

-6.88

19.73

29.82

-4.93

364

444

401

452

412

324

288

420

431

426

340

356

295

402

397

491

304

297

379

388

278

457

339

331

413

396

436

347

432

389

486

446

445

440

398

378

469

383

474

482

416

439

403

449

485

458

387

472

368

434

342

436

430

469

441

328

319

400

466

476

301

338

228

454

444

488

304

274

364

362

281

435

261

339

406

394

449

289

442

380

481

438

440

393

385

347

461

350

471

487

382

437

357

439

489

462

308

470

366

386

269.41

291.64

303.78

160.34

125.00

217.02

297.65

222.77

407.07

226.34

102.96

146.95

187.03

207.99

173.29

111.80

155.55

193.29

189.03

176.24

263.71

144.89

129.87

303.66

339.79

256.33

83.46

164.13

181.45

292.90

-216.50

295.19

238.27

132.17

187.78

216.86

188.19

186.85

134.71

48.16

220.68

93.58

154.89

272.51

164.67

125.25

243.13

168.50

182.11

176.37

5.25

3.51

71.16

36.22

56.88

30.62

8.17

12.32

88.08

133.17

-44.83

3.76

-14.45

59.11

40.08

18.19

0.49

2.86

10.96

95.26

5.17

19.75

-48.30

12.25

13.48

-10.79

47.12

-17.38

36.01

7.58

-

4.95

6.44

27.84

11.48

22.17

71.74

7.33

16.13

33.52

9.42

23.68

9.39

42.94

65.40

30.63

34.79

45.46

29.08

-

373

362

352

439

465

402

357

397

294

394

471

445

416

405

431

470

440

409

412

427

375

447

461

353

337

378

473

437

421

361

498

358

389

459

415

403

414

417

456

487

399

472

441

370

436

464

386

434

420

426

338

315

393

443

470

400

323

376

363

459

383

423

362

432

436

462

410

380

397

464

342

441

341

327

303

312

477

375

428

325

499

316

359

455

398

392

451

394

446

485

374

471

424

378

458

460

389

447

425

497

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


Rico Auto Inds.

Mastek

Gati

Century Ply


Shri Lakshmi Cotsyn

Alps Inds

Walchandnagar Inds

Zylog System

Titagarh Wagons

Force Motors

Kohinoor Foods

Samtel Color

Nilkamal

JMC Projects(I)

Agro Tech Foods

SIL Investments

Sangam(I)



Piramal Glass

Goodyear(I)

Shah Alloys

Spanco



JVL Agro Ind

Spentex Inds


Eskay KnIT(I)

Balaji Distilleries

Ciba(I)

Paper Products

Hindustan Motors

Anik Inds

Classic Diamonds(I)

Pennar Inds

Pricol


Hatsun Agro Product


Swaraj Mazda

Kajaria Ceramics




Garware Polyester

Bharat Bijlee



74.61

141.64

45.32

74.92

100.81

79.44

34.18

59.86

104.61

94.42

-42.65

15.60

-49.39

99.84

63.59

22.81

59.22

55.63

70.90

24.56

81.31

68.13

-147.73

67.58

71.28

49.85

32.85

-0.37

55.26

80.79

116.94

37.90

63.67

69.79

39.16

39.16

44.82

53.80

38.74

45.75

71.76

41.40

43.28

96.22

127.77

31.57

47.15

115.08

77.90

39.84

-5.38

-0.29

6.64

102.71

49.06

29.57

-31.97

144.43

60.52

103.23

-

-62.50

-

327.58

100.35

11.16

-30.83

-24.24

-16.49

-16.18

-4.06

-4.63

-

19.36

20.41

4.44

82.60

-

3.31

46.86

-

-61.27

-19.20

77.22

92.15

5.41

26.57

-32.58

22.05

65.46

3.06

61.72

36.31

65.18

96.93

2.43

32.52

34.19

35.57

-9.76

368

267

424

367

325

362

450

400

321

340

492

470

494

328

392

465

401

405

378

463

358

384

496

386

377

417

452

490

406

359

302

448

391

381

444

443

427

408

446

422

375

438

436

336

288

454

420

304

364

441

332

239

426

437

360

378

408

460

365

415

493

428

494

461

446

464

319

342

321

454

322

347

351

391

380

413

469

429

403

397

489

295

334

432

465

436

439

331

447

455

354

457

445

384

370

450

438

318

387

422

106.26

385.75

303.41

701.99

229.35

35.96

29.89

333.70

124.69

476.45

83.17

241.47

25.64

85.11

96.78

245.28

44.62

40.84

64.31

202.50

68.95

162.76

25.36

50.70

65.41

40.79

50.44

32.09

156.77

37.63

105.77

262.01

193.43

199.37

58.28

33.34

309.88

71.55

36.30

178.24

165.15

172.10

203.37

172.88

355.06

151.05

46.92

255.61

89.16

124.45

-74.56

-50.06

-71.16

-52.37

-86.71

-81.59

-85.92

-80.88

-74.35

-

-71.70

10.84

-69.77

-77.70

-86.85

-39.84

-67.96

-75.48

-73.44

-23.92

-

-53.03

-71.66

-88.85

-85.04

-78.79

-57.31

-84.36

-69.66

-69.82

-46.37

-23.94

-40.44

-75.14

-67.21

-88.93

35.02

-70.61

-80.57

-20.13

-53.05

-41.70

17.16

-75.12

-77.67

-84.09

-62.57

-85.39

-60.37

-69.04

411

291

320

219

343

476

484

310

395

265

435

336

486

431

422

335

468

469

451

351

443

375

488

460

449

470

461

481

379

472

412

331

356

353

456

478

314

442

474

363

373

368

350

367

299

383

466

333

426

397

385

335

302

265

236

449

442

234

371

-

415

439

483

393

338

388

465

458

430

424

-

401

480

375

378

450

471

445

367

468

448

402

408

329

455

412

434

429

453

436

398

414

456

345

255

312

467

232

435

390

8.27

34.02

7.83

27.83

41.31

21.46

3.99

15.96

20.20

26.76

-

3.63

-

27.58

17.73

14.54

1.95

2.78

15.60

-

6.16

27.76

-

12.60

15.51

8.95

28.37

-

13.89

7.06

-

6.55

11.91

23.33

12.39

14.36

16.37

10.21

17.34

35.98

12.93

26.93

9.70

23.52

48.52

18.90

4.27

43.49

25.14

7.72

10.08

36.40

13.16

17.36

39.14

21.86

11.03

6.70

24.97

30.07

-

15.58

-

5.32

12.98

17.01

23.46

14.38

26.36

-

14.10

37.29

16.04

12.08

14.35

9.82

19.78

2.11

20.77

5.32

-

28.83

17.84

12.86

6.85

12.70

20.36

20.80

14.02

22.58

14.43

21.27

5.42

23.99

39.74

18.25

1.18

47.54

29.35

-

9.64

33.07

7.29

18.13

17.38

8.74

3.15

10.76

20.50

17.85

-

1.97

-

16.10

9.98

12.51

5.92

5.47

10.10

3.61

6.97

17.65

-

7.76

12.39

7.73

6.67

-

10.85

11.99

48.73

8.89

14.88

15.75

6.16

5.57

12.85

7.80

11.95

17.28

12.63

9.23

6.98

22.83

50.09

8.21

6.90

33.56

10.46

8.01

12.51

36.95

10.54

12.86

18.66

8.95

7.12

4.98

22.02

19.81

0.08

6.49

-

7.18

8.85

12.01

11.04

8.06

14.66

5.05

9.62

18.45

7.13

8.91

12.58

9.29

5.18

5.00

14.79

10.37

2.17

25.96

21.70

7.66

3.90

5.95

11.40

12.96

11.15

15.22

13.20

6.76

5.41

15.63

38.01

9.94

4.85

29.94

10.01

8.44

3.14

17.01

4.31

7.51

5.87

5.51

1.87

5.62

13.57

10.92

-

0.84

-

6.46

3.36

1.61

0.38

0.77

3.42

-

3.40

4.52

-

6.77

7.93

3.06

2.05

-

3.67

3.17

8.78

4.13

4.98

4.38

3.19

4.40

5.51

3.01

2.11

2.01

5.51

3.78

2.98

13.34

14.39

3.25

1.81

13.02

9.25

2.37

3.35

20.58

5.11

4.83

4.66

6.02

7.07

3.71

13.40

10.37

-

3.75

-

1.30

3.21

1.55

5.06

4.89

6.74

-

8.99

5.44

3.22

7.66

8.75

3.89

1.62

0.56

4.76

3.02

-

15.86

7.97

2.00

2.50

3.45

4.46

5.89

1.84

1.39

6.11

2.67

1.84

14.48

9.75

2.96

0.41

11.74

9.05

3.37

Company



451

452

453

454

455

456

457

458

459

460

461

462

463

464

465

466

467

468

469

470

471

472

473

474

475

476

477

478

479

480

481

482

483

484

485

486

487

488

489

490

491

492

493

494

495

496

497

498

499

500

Rank2008

Rank2007

%ChangeCompany

Rank2008

Rank2007


%Change

Rank2008

Rank2007

TotalAssets

2008%

ChangeRank2008

Rank2007

NetWorth

2008


421

451

495

430

457

437

429

461

443

441

476

444

462

468

433

479

453

459

445

470

477

472

487

474

460

480

471

478

458

486

483

488

485

473

484

475

465

481

482

490

497

499

496

493

491

500

492

489

498

466

DCM Shriram Inds.

Cosmo Films

KNR Construction

Omax Autos

Mangalam Cement

McNally Bharat Engg.

Subros

Sai Service Station

Munjal Showa

TIL

Pratibha Inds

Trend Electronics

LT Foods

Ind-swift

IG Petrochemicals

Diamond Cables

Thirumalai Chem.

Siyaram Silk

LG Balakrishnan & Bros

VIP Inds

Ushdev International

Universal Cables

Heritage Foods(I)

Hyderabad Inds

Lumax Inds

Jay Bharat Maruti

Deepak Nitrite

Amrit Banaspati Co.

Precision Wires(I)

Excel Crop Care

Venkys(I)

Jayant Agro Organics

Rathi Steel

Atlas Cycles(H)

Steel Exchange(I)

T T

Gabriel(I)

Panchmahal Steel

Nicco Corp

Vimal Oil

Flawless Diamonds(I)

Compuage Infocom

Nakoda Textile Inds

Emmsons International

Tulsyan NEC

Sakuma Exports

Competent Automobiles

Bhuwalka Steel Inds

Kriti Inds

Platinum Corporation

557.05

580.66

548.39

713.61

509.88

548.17

662.57

885.72

719.24

706.47

475.92

863.83

567.89

513.27

586.91

486.68

591.22

589.67

549.87

550.19

752.81

489.81

588.03

481.88

509.37

657.04

470.27

758.80

573.99

509.27

523.16

594.11

518.22

576.67

608.79

639.22

473.43

505.73

476.99

634.20

555.91

611.38

565.91

560.77

531.90

573.42

529.07

518.11

474.01

479.49

-7.09

8.86

69.04

3.58

11.82

9.03

2.37

11.53

2.59

26.15

61.20

11.57

18.06

36.01

1.02

85.54

9.01

12.42

15.62

29.84

37.68

28.71

69.79

10.19

-5.09

26.46

13.19

22.52

-1.97

25.92

27.45

31.88

32.56

17.21

29.80

8.05

-9.24

19.47

24.49

29.32

84.52

102.52

65.27

53.28

23.65

144.27

16.58

7.80

42.61

-42.45

454

437

464

378

476

465

396

315

377

383

493

325

447

475

433

487

429

430

463

462

359

484

431

488

477

398

498

358

443

478

469

424

470

439

420

408

495

479

492

411

455

419

448

451

466

445

467

471

494

490

370

410

541

337

461

430

351

303

334

390

549

307

445

514

382

555

402

416

449

481

400

511

530

473

408

419

488

357

378

495

492

466

503

437

452

373

418

482

508

439

548

547

532

521

476

559

464

446

535

286

660.62

420.73

559.76

571.41

400.19

662.44

359.36

159.74

305.24

354.68

569.23

441.80

658.80

715.08

394.32

307.34

436.04

472.57

513.56

350.06

210.11

418.27

344.15

361.38

390.79

226.73

381.00

135.18

348.54

364.59

277.22

215.55

457.50

370.36

289.01

257.83

373.49

322.23

379.08

146.09

257.57

144.33

278.65

159.35

297.06

71.57

101.54

180.17

217.45

35.07

20.84

6.03

115.42

13.37

37.17

45.55

2.94

1.44

8.08

8.69

92.06

0.89

45.34

28.64

-0.75

60.92

-1.46

20.23

-10.14

15.90

162.08

27.39

59.77

11.46

23.87

5.11

-11.15

21.60

9.75

14.87

5.81

12.06

44.88

3.24

42.89

21.38

27.00

6.95

10.58

1.28

34.78

29.42

67.88

-12.68

21.97

-2.25

4.90

12.73

86.24

-44.88

392

450

418

414

453

391

466

493

477

467

415

441

393

376

454

476

442

437

430

468

490

451

471

465

456

487

459

497

470

464

481

489

438

463

479

483

462

475

460

495

484

496

480

494

478

499

498

492

488

500

377

433

474

396

468

414

447

492

472

453

465

422

416

376

432

485

421

434

369

463

498

452

478

455

459

477

425

496

456

457

473

482

458

443

480

479

467

464

450

493

484

495

490

486

475

499

497

491

494

500

180.23

181.19

226.25

145.67

222.07

137.03

174.05

50.62

153.97

122.40

183.90

81.06

144.24

178.06

217.99

126.16

131.24

136.36

144.84

132.79

49.48

169.80

115.70

151.01

143.36

67.05

167.65

29.46

141.72

118.03

140.40

64.67

135.90

119.05

63.94

61.46

132.65

69.31

74.26

24.50

67.61

15.67

59.31

49.56

46.51

60.08

42.57

27.67

33.64

14.11

0.52

22.19

242.13

9.26

50.36

45.50

15.23

14.42

6.92

43.63

93.86

1.63

20.21

19.83

15.58

134.32

12.60

2.71

6.92

17.87

34.90

6.47

66.96

6.49

75.97

23.91

1.50

1.13

29.01

14.73

15.36

28.88

5.56

-2.86

85.28

2.09

1.40

147.01

6.51

22.93

258.10

-47.64

36.34

148.05

36.91

5.46

9.97

8.77

24.22

7.06

423

422

395

446

398

453

430

484

442

466

418

474

449

424

401

462

460

454

448

457

486

433

469

443

450

478

435

491

451

468

452

479

455

467

480

481

458

476

475

494

477

495

483

485

488

482

489

493

490

496

391

414

474

429

416

463

412

481

419

465

461

469

442

413

379

479

445

430

427

448

484

408

473

422

468

478

403

489

450

456

439

480

433

437

486

475

431

490

472

494

495

488

482

493

487

476

483

492

491

496

ROA(%)

2008

RONW(%)

2008

RONW(%)

2007

ROA(%)

2007

ROS(%)

2008

ROS(%)

2007%

ChangeRank2008

Rank2007

GrossProfit2008

%Change

Rank2008

Rank2007

MarketCap

30.01.2009


DCM Shriram Inds.

Cosmo Films

KNR Construction

Omax Autos

Mangalam Cement


Subros

Sai Service Station

Munjal Showa

TIL

Pratibha Inds

Trend Electronics

LT Foods

Ind-swift

IG Petrochemicals

Diamond Cables

Thirumalai Chem.

Siyaram Silk


VIP Inds


Universal Cables

Heritage Foods(I)

Hyderabad Inds

Lumax Inds

Jay Bharat Maruti

Deepak Nitrite

Amrit Banaspati Co.

Precision Wires(I)

Excel Crop Care

Venkys(I)


Rathi Steel

Atlas Cycles(H)

Steel Exchange(I)

T T

Gabriel(I)

Panchmahal Steel

Nicco Corp

Vimal Oil


Compuage Infocom

Nakoda Textile Inds


Tulsyan NEC

Sakuma Exports


Bhuwalka Steel Inds

Kriti Inds


13.84

85.84

61.24

50.35

131.25

34.00

72.84

27.22

44.83

60.92

43.30

17.15

43.27

44.38

47.47

50.33

57.88

29.09

46.51

38.24

18.26

39.91

10.77

32.68

38.85

45.16

23.57

5.07

35.27

44.03

49.54

11.73

15.08

10.83

25.24

10.05

25.69

50.90

20.24

9.93

27.60

7.04

13.92

15.37

26.39

7.22

9.32

9.20

14.82

1.50

-27.65

53.31

74.03

-12.50

17.81

58.58

10.05

39.09

-14.59

55.21

76.45

12.68

40.76

40.62

4.79

66.66

17.26

-24.05

-16.71

23.67

110.37

-4.59

6.63

8.10

-11.94

12.67

-57.56

-41.25

7.30

25.26

99.12

19.33

7.87

-84.60

86.27

-29.13

-75.96

10.17

-1.80

51.60

206.33

99.43

53.81

106.86

106.17

77.40

21.51

70.69

104.41

2.74

476

351

398

415

282

451

371

457

426

399

435

469

437

430

419

416

402

455

421

447

468

440

479

453

445

425

464

487

449

433

418

477

472

478

461

480

460

414

467

481

456

486

475

471

459

485

482

483

473

489

467

394

440

386

278

462

364

466

406

433

459

471

451

448

419

453

410

434

395

449

481

427

477

452

423

431

396

482

443

441

458

478

473

349

474

472

284

416

463

486

480

491

479

484

475

490

483

487

485

492

83.26

120.92

83.66

36.36

138.00

108.04

90.00

88.47

88.40

101.50

109.57

12.64

65.92

49.10

58.37

208.18

59.19

46.85

66.10

112.47

49.75

78.64

76.10

101.71

67.41

48.74

71.70

20.79

35.32

84.92

66.43

52.05

21.83

25.38

30.46

13.44

54.21

48.55

38.09

7.92

28.36

19.63

18.24

32.16

21.85

9.92

11.47

12.98

30.94

5.24

-54.25

-43.20

-

-69.40

-64.13

-83.60

-69.97

0.35

-43.11

-81.86

-82.84

-74.33

-54.77

-54.88

-71.31

-74.94

-73.27

-60.69

-68.62

-68.26

-76.22

-66.00

-73.13

-24.73

-76.36

-56.09

-34.94

-49.47

-78.19

-28.12

-53.33

-47.91

-68.15

-54.05

-84.13

-71.20

-66.81

-82.83

-84.87

-65.46

-80.38

-67.98

-72.24

-62.98

-55.09

-72.87

-56.99

-74.71

-71.07

-71.69

434

399

433

473

388

407

425

428

429

416

406

496

448

463

455

347

454

467

447

404

462

437

438

415

444

464

441

491

477

432

445

458

490

487

483

494

457

465

471

499

485

492

493

480

489

498

497

495

482

500

454

441

-

470

392

350

413

481

461

361

351

489

462

476

446

325

437

469

443

396

444

431

417

466

416

474

475

492

460

472

464

478

484

487

451

491

459

418

428

495

463

486

485

482

490

493

494

488

477

496

-

24.56

13.62

10.87

51.13

16.35

16.45

23.20

12.55

26.34

18.63

2.14

19.57

17.55

14.02

34.52

23.24

6.97

10.26

15.14

31.55

10.17

0.81

9.32

9.87

23.61

4.19

4.72

12.17

20.93

18.95

9.49

6.32

1.68

23.83

5.12

5.77

59.52

8.68

22.83

35.66

27.30

15.68

20.34

29.54

7.21

10.75

12.97

22.28

6.60

0.88

16.74

30.81

17.74

56.78

18.59

18.41

19.11

18.04

21.56

21.54

3.05

17.16

14.03

15.74

51.13

22.14

14.70

16.95

12.72

23.21

13.78

2.49

9.85

22.44

22.13

21.60

8.68

15.28

17.98

9.47

10.53

5.52

43.78

23.38

9.06

55.89

105.17

8.72

17.00

38.48

6.53

14.12

31.98

17.99

4.68

9.93

8.10

9.69

7.86

2.10

20.40

10.94

8.81

32.80

5.13

20.27

17.04

14.69

17.18

7.61

3.88

6.57

6.21

12.04

16.38

13.27

6.16

9.06

10.92

8.69

9.54

3.13

9.04

9.94

19.92

6.19

3.75

10.12

12.08

17.87

5.44

3.30

2.92

8.73

3.90

6.88

15.80

5.34

6.80

10.72

4.88

5.00

9.65

8.88

10.09

9.18

5.11

6.82

4.28

3.50

14.11

13.54

11.42

38.19

4.71

18.96

12.43

18.59

12.03

8.28

3.48

6.78

5.68

11.40

15.81

11.15

9.74

9.77

10.24

10.83

12.74

4.69

9.32

13.99

18.58

12.95

7.76

10.35

11.07

9.50

5.11

4.43

19.61

6.70

6.68

36.34

15.33

6.01

4.54

4.71

3.17

5.45

4.07

5.26

5.56

7.92

3.37

6.21

2.29

-

7.66

5.62

2.22

22.27

4.09

4.32

1.33

2.69

4.56

7.20

0.20

4.97

6.09

5.21

8.95

5.16

1.61

2.70

3.65

2.07

3.52

0.16

2.92

2.78

2.41

1.49

0.18

3.01

4.85

5.09

1.03

1.66

0.35

2.50

0.49

1.62

8.16

1.35

0.88

4.34

0.70

1.64

1.80

2.58

0.76

0.86

0.69

1.58

0.19

0.26

4.65

6.28

3.43

18.39

3.48

4.30

1.07

3.71

3.28

6.92

0.31

4.28

5.52

5.11

10.50

4.76

3.72

4.83

3.38

1.56

5.77

0.50

3.19

3.41

2.30

8.59

0.41

2.87

4.57

2.81

1.17

1.82

10.91

1.72

0.92

14.02

6.97

1.59

0.69

2.41

0.65

1.79

1.75

1.42

1.14

0.85

0.43

0.79

0.12

Company


Pradip Kumar Dey

AMONG the industries (82) stud-ied, only three showed negativegrowth in their total income

during 2007-08. Mention may be madeof automobiles-motorcycles/mopeds(-9.65%), paper (-6.59%) and sugar (-5.79%). All the other 79 broad industrycategories under which the FE 500 hadbeen clubbed had positive growth.

As always, aggregates tend to con-ceal some good or bad performances.Thus, even though solvent extractionshowed a good income growth of40.84%, Sanwaria Agro Oils grew at thehigher rate of 110.70%. The group aver-age was also weighed up by the 91.98%income increase reported by KS Oils.The net profit of the group alsoincreased by 39.96% during 2007-08.

The retailing industry saw a 50.87%income growth. But at least two retail-ing companies, namely PantaloonRetail (I) and Vishal Retail - reportedmore than 50% increases. The netprofit of the retailing group of com-panies increased by 12.77% to Rs199.19 crore during 2007-08.

Among the industries studied,the best performers of the year wereconstruction, telecommunicationscomputer-software mega, pharma-ceutical-Indian Bulk Drugs, cementand tyres. The details of industryperformances appear in the tablesstarting from page 60. Given belowisabrief synopsisof themajorgain-ers and losers of 2007-08.

Construction: The industryshowed excellent results with posi-tive growth rates in all financialindicators. While total incomeincreased by around 52.85%, netprofit went up by 104.64%. And theretained profit of the groupincreased by 108.62% to Rs 7153.54crore during 2007-08. And the debt-equity ratio decreased from 1.42during 2006-07 to 1.12 during 2007-08.

DLF, Lanco Infratech, Omaxe, JMCProjects,andHDILwereamongthebestperformers.

According to industry sources,India is endowed with an estimatedhydro power potential of more than1,50,000 MW. However, only 21.82% ofthe potential has been developed tilldate and 9.13% is being developed. Thegovernment focus on infrastructuredevelopment to achieve the projectedGDP growth level has translated intohealthy order books for the engineer-ing and construction sector. The infra-structure sector, which is estimated togrow at a CAGR of 15% over the nextfive years, requires an investment of$475 billion to support the unprece-dented growth rates being witnessedacross every other sector.

Food processing: This industryreported a significant growth in almostall financial indicators, with a netprofit (NP) growth of 23.97% during theyear 2007-08. The retained profit of this

group also increased by 25.46% to Rs134.24 crore during 2007-08. The top per-formers were Hatson Agro Product(112.64% growth in NP) and JVL AgroInds (111.05%). The debt-equity ratio ofthe group increased from 1.91 during2006-07 to 2.25 during 2007-08.

TheIndiandairyindustryisrapidlygrowing, trying to keep pace with thegalloping progress around the world.The annual growth rate of this sector is5%. It is estimated that the dairy mar-ket will more than double by 2011.Bythen, the organised sector will accountfor 30% of the milk output and two-thirdswillcomefromtheprivatesector.

Diamond cutting/jewellery: Thisindustry reported a significant growthin almost all financial indicators, witha net profit (NP) growth of 65.77% dur-ing the year 2007-08. The retained profitof this group also increased by 70.18%toRs552.65croreduring2007-08.RajeshExports, Gitanjali Gems, Su-RajDiamonds and Flawless Diamonds (I)

did well during the year. The betterperformance of Rajesh Exports isreflected in the net profit growth of103.95% during 2007-08. Theretained profit of the company alsoincreased by 110.66% to Rs 197.79crore during 2007-08.

According to the directors'report, the gem and jewellery indus-try has witnessed a growth of22.27%amountingtototalexportsof$20.9 billion against $17.1 billion ofthe previous year. The US is thelargest consumer of retail diamondjewellery, accounting for approxi-mately 48% of world diamond jew-ellery consumption. The US isIndia's largest export market forgems and jewellery.

Cement: The cement industryshowed a somewhat better perfor-mance during 2007-08, with the totalincome of 15 major cement compa-nies increasing by just 20.27% andnet profit increased by 27.78%. The

Under the lensConstruction, computer-software mega, pharmaceuticals, cementand tyres were the best performers of 2007-08


fe500 industry-wiseperformance500 industry-wiseperformance


improved profitability of the cementcompanies during the year 2007-08 hasbeen due to improved prices, cost con-trol and higher demand in the interna-tional markets This is reflected in theperformance of Binani Cements,whose net profit rose by 83.89% duringthe year 2007-08. The retained profit ofthe company also increased by 127.39%to Rs 125.04 crore during 2007-08.

The cement industry witnessed amoderate growth of 7.1% in the calen-dar year 2007 against 11.6% in 2006.Constraints in capacity materialisa-tion and the high base of 2006 con-tributed to the lower growth rate for theyear under review. But the outlookfor growth is bright. The cementindustry is implementing majorcapacity additions over the existinglevel of 173 million tonne perannum. While 7-8 million tonne ofcapacity was added during the year2007, significant capacity isexpected to be added during 2008.

Automobiles - LCVs/HCVs/passenger cars: The industry's(sevenunits) total incomeincreasedby 10.57% and net profit increasedby 7.42% during the year 2007-08.AshokLeyland,TataMotors,EicherMotors and Maruti Suzuki experi-enced a moderate increase in totalincome during the year 2007-08.Among these four companies, mini-mum income growth (4.98%) wasseen in the case of Tata Motors.

The commercial vehicle indus-try (including exports) witnessed amoderation in growth in FY 07-08.The domestic market, whichaccounts for nearly 90% of totalcommercialvehiclesaleswasimpactedby reduction in economic activity, poorcredit availability, hardening of inter-est rates and increase in fuel prices. Itgrew by 6.9% as compared to 33%growth in the previous year. In thecountry, 4,99,978 new commercial vehi-cles were sold during the year 2007-08andpassengercarsalesgrewto1.53mil-lion vehicles during the above period.

Computers-software mega: Theaggregate total income of the industry(six units) increased by 24.46% to Rs64,144 crore in 2007-08. The net profit ofthe industry showed an increase of12.63%duringtheyearunderstudyandthe retained profit of the industry mar-ginally decreased by 0.50% during the

year 2007-08. Infosys Technologies,Tech Mahindra ,TCS and Wipro wereamong the star performers. The netprofit of Tech Mahindra and InfosysTechnologies increased by 29.75% and18.16% respectively during the year.

According to the director's report,changing economic and business con-ditions are creating a competitive mar-ket environment that is drivingcorporationstotransformtheiroperat-ing manner. A leading analyst firm hasforecasted that outsourcing expendi-ture on services will increase from $226billion in 2006 to an estimated $328 bil-lion by 2011.

Pharmaceuticals-Indian-BulkDrugs: The industry has performedbetter in 2007-08, with the aggregatetotal income of four companies risingby 34.24% to Rs 5,381.77 crore during2007-08. Net profit and retained profitincreased by 56.98% and 56.62% respec-tively. Companies like Ankur Drugs,Orchid Chem & Pharma and Lupin didwell during the year. The debt-equityratio of the group decreased from 1.70in2006-07to1.49in2007-08.Accordingtothe director's report, Indian compa-nies' contribution to the IndianPharmaceutical Market (IPM) is esti-mated to be around 80% and there areonly 11 MNCs among the top 50 pharmacompanies. The chronic segments have

shown a CAGR of 16% in terms ofvalue, over the last four years, whileacute segments exhibited a growth of12% on a CAGR basis. The contributionof combinationdrugsisestimatedtobearound 46%. McKinsey & Co's recentresearch estimates indicate that theIPM is expected to grow to a size of $20billionby2015andwillbeamongthetop10 pharma markets of the world.

Telecommunications-serviceprovider: The industry has performedwell in 2007-08, with the aggregateincome rising by 33.64% to Rs 58,235crore in 2007-08. Net and retained profitincreased dramatically. Net profit of

the group increased by 48.23% to Rs10,648 crore during 2007-08.Companies like Idea Cellular,Bharti Airtel, Tulip IT, RelianceCommunications did well duringthe year. The net profit of IdeaCellular increased by 108.01% to Rs1044.36 crore during 2007-08.

According to the directorsreport, thetotalbaseof landlineandwireless subscribers in Indiasurged by 46% during the yearended March 31, 2008 to reach 300.51million, according to TRAI. Thenumber of Internet subscribersalso increased to 10.8 million duringthe year, with the broadband sub-scriber base reaching 3.47 million.

Tyres: The industry has donesignificantly well during the year2007-08, with aggregate income ris-ing by 12.42% to Rs 16,141 crore in2007-08. Net and retained profitincreased significantly. Net andretained profit of the groupincreased by 119.39% to Rs 646.64

crore and 142.54% to Rs 577.10 crorerespectively during 2007-08.Companies like MRF, Ceat, JK TyreIndustries did well during the year. Thenet profit of JK Tyre Industriesincreased by 291.38% to Rs 66.73 croreduring 2007-08. According to the direc-tors report, India is in the midst ofrapid economic growth. The govern-ment'scontinuedemphasisonbuildinginfrastructure has given a fillip to thedevelopment of road infrastructureand transport. The number of vehicleson road have shown a marked increase.As a direct fallout of this scenario, thetyre industry has had the good fortuneof receiving increasing orders fromOEM's and the replacement market.

Air-conditioners

Blue Star 2270.09 41.23 174.09 144.58 111.13 151.43 165.16 45.08 303.80 44.24 0.14 0.42

Lloyd Electric & Engg. 677.04 34.59 52.72 22.72 49.62 34.98 11.73 7.03 31.06 61.69 0.45 0.37

Total (2) 2947.13 39.64 226.81 98.71 160.75 98.55 176.89 41.74 334.86 45.70 0.32 0.39

Aluminium and Aluminium Products

Hindalco Inds 19693.96 5.41 2860.94 11.57 2634.02 10.35 6435.00 -7.78 11040.45 9.49 0.48 0.59

National Aluminium 6060.87 -12.52 1631.52 -31.49 1244.93 -34.41 2095.26 -18.67 719.32 114.00 - -

Man Inds(I) 1507.84 26.12 71.21 28.79 63.22 33.66 949.39 128.07 1039.69 72.21 0.85 0.81

Madras Aluminium Co. 583.88 -10.53 65.28 -63.83 45.03 -70.66 21.92 37.60 120.72 101.77 0.06 0.07

Total (4) 27846.55 1.41 4628.95 -10.66 3987.20 -11.12 9501.57 -4.85 12920.18 16.58 0.32 0.37

Auto Ancillaries

Bosch 5139.90 16.56 609.21 11.17 529.08 6.52 722.28 6.41 1458.76 -2.67 0.10 0.10

Exide Inds 3613.20 51.00 250.33 61.28 218.33 69.30 137.02 63.70 628.59 25.03 0.34 0.48

Motherson Sumi Systems 1564.93 23.74 128.19 12.27 80.19 1.57 252.63 19.67 464.60 30.32 1.15 1.32

Wheels(I) 1291.40 11.90 25.86 -0.65 18.95 -3.37 223.50 22.28 114.52 19.03 1.62 1.50

Sai Service Station 901.75 11.62 11.74 38.77 7.67 74.72 0.00 - 0.02 -95.56 1.18 1.61

Omax Autos 881.03 3.88 15.84 -33.05 12.63 -33.00 24.71 18.51 18.92 253.64 1.99 1.86

Munjal Showa 843.71 3.04 19.32 -25.66 11.32 -37.08 0.17 30.77 65.46 -6.37 0.23 0.17

Sona Koyo Steering Sys. 834.22 17.83 25.19 -9.09 18.23 -12.86 62.47 13.42 272.72 31.40 1.02 0.72

Rico Auto Inds. 827.34 -6.83 22.27 -13.72 14.74 -10.07 142.94 20.03 58.32 -36.87 1.38 0.93

Jay Bharat Maruti 791.77 26.69 15.83 32.25 13.12 33.88 0.10 - 17.85 -48.97 0.67 1.03

Subros 775.24 2.51 28.63 2.99 23.83 3.61 0.00 - 241.90 -16.82 0.64 0.84

Pricol 735.41 5.30 19.08 -47.31 13.68 -49.72 127.49 22.94 182.66 22.66 1.74 1.71

Federal-Mogul Goetze(I) 720.28 15.41 -18.62 - -18.62 - 49.65 140.67 110.39 31.60 1.66 4.06

Lumax Inds 602.26 -1.95 14.15 -22.59 10.41 -26.01 10.61 -10.92 101.43 40.74 0.58 1.20

Gabriel(I) 555.79 -19.80 7.65 -89.54 2.62 -96.15 7.22 4.03 43.67 23.71 1.10 0.56

Total (15) 20078.23 16.04 1174.67 5.45 956.18 2.10 1760.79 17.80 3779.81 8.12 0.56 0.63

Automobiles - LCVs / HCVs/ Passenger Cars

Tata Motors 33720.35 4.98 2028.92 6.03 1450.49 8.62 2844.12 4.77 3009.89 52.21 0.80 0.58

Maruti Suzuki(I) 21912.80 23.08 1730.80 10.81 1586.30 10.78 741.30 28.23 2751.60 56.81 0.11 0.09

Ashok Leyland 9228.89 7.69 469.31 6.35 269.54 11.05 812.77 23.47 514.74 -0.57 0.41 0.34

Eicher Motors 2541.86 12.98 63.05 2.92 49.00 - 170.19 9.33 46.33 35.55 0.44 0.48

Force Motors 1133.19 -8.01 -83.65 - -83.65 - 38.59 35.12 125.33 11.85 3.55 1.34

Hindustan Motors 971.99 9.42 30.84 131.88 30.84 131.88 0.42 -86.45 204.89 35.90 0.85 1.83

Swaraj Mazda 765.04 10.50 25.20 56.62 19.43 88.28 33.34 4.38 41.65 133.86 1.52 1.45

Total (7) 70274.12 10.57 4264.47 7.42 3321.95 11.62 4640.73 11.28 6694.43 46.66 0.46 0.37

Automobiles - Motorcycles / Mopeds/ Scooters And 3 - Wheelers

Hero Honda Motors 12261.76 -7.17 967.88 12.82 588.47 13.51 243.64 -7.54 906.55 38.47 0.04 0.07

TVS Motor Co. 3783.66 -16.84 31.77 -52.30 15.14 -67.38 334.47 29.59 207.75 -37.97 0.81 0.78

Total (2) 16045.42 -9.65 999.65 8.13 603.61 6.87 578.11 10.83 1114.30 12.60 0.21 0.24

Automobiles - Tractors

Mahindra & Mahindra 13301.38 14.22 1103.37 1.45 820.76 1.91 883.56 23.94 432.43 38.05 0.59 0.46

Escorts 2155.62 11.77 -6.44 - -6.44 - 247.49 9.16 44.64 13.76 0.40 0.58

Punjab Tractors 1006.42 0.92 65.17 -16.43 34.79 -55.39 16.94 -18.44 4.52 129.44 0.01 0.02

Total (3) 16463.42 12.99 1162.10 -1.90 849.11 -5.90 1147.99 19.54 481.59 35.87 0.49 0.43

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Bearings

SKF(I) 1751.01 16.45 160.71 57.62 129.07 64.99 149.48 113.33 517.64 1.33 - -

Fag Bearings(I) 728.96 16.72 79.53 7.91 72.88 8.70 96.23 4.96 154.86 11.26 - -

Total (2) 2479.97 16.53 240.24 36.76 201.95 39.01 245.71 51.91 672.50 3.46 - -

Biotech

Piramal Healthcare 2078.15 17.36 301.48 60.12 212.35 88.20 465.65 61.36 247.13 -2.90 0.50 0.37

Wockhardt 1286.80 6.11 213.88 0.15 90.76 -42.86 398.56 -1.87 239.33 22.83 0.79 0.74

Biocon 956.09 6.27 195.56 23.50 145.56 13.41 522.62 9.72 321.30 13.55 0.11 0.11

Panacea Biotec 867.34 -0.28 133.17 -9.29 126.50 -8.47 642.06 -5.81 316.62 -24.18 0.57 0.40

Total (4) 5188.38 9.16 844.09 19.39 575.17 6.87 2028.89 9.51 1124.38 -2.22 0.46 0.41

Breweries & Distilleries

United Breweries 2006.08 33.48 62.47 -4.03 62.46 21.92 0.55 3.77 91.73 33.00 0.86 0.85

Balaji Distilleries 1845.19 19.65 106.06 - 106.06 - 0.00 - 12.78 61.98 - -

Radico Khaitan 1254.06 26.21 33.07 1.63 24.44 -3.67 63.93 -17.24 25.04 -42.06 2.23 2.62

Total (3) 5105.33 26.41 201.60 118.51 192.96 170.90 64.48 -17.10 129.55 7.89 1.97 3.01

Cables - Power

Ramsarup Inds. 1825.28 39.75 61.98 42.29 54.77 37.37 99.72 39.59 148.36 389.64 2.39 1.29

KEI Inds 985.98 44.55 43.78 8.99 40.74 9.46 141.19 64.88 44.60 40.38 1.65 2.04

Universal Cables 571.55 29.80 17.26 -21.44 11.71 -28.68 17.45 139.04 89.18 39.98 0.87 0.62

Diamond Cables 511.20 83.90 43.55 58.19 43.55 58.19 5.37 - 3.16 - 1.27 2.41

Nicco Corp 480.07 11.25 6.45 6.09 6.45 6.09 5.23 28.82 8.06 21.20 2.05 2.39

Total (5) 4374.08 39.39 173.02 24.20 157.22 23.68 268.96 59.69 293.36 121.52 1.79 1.52

Cables - Telephone

Usha Martin 1873.40 17.55 144.83 42.72 119.81 44.86 371.65 1.62 256.27 4.63 1.09 1.04

Sterlite Technologies 1781.88 36.11 100.72 98.03 94.27 103.87 518.01 74.74 924.23 114.92 1.23 1.42

Finolex Cables 1627.03 34.96 88.92 28.89 65.98 38.67 79.54 18.24 160.29 33.04 0.45 0.46

Total (3) 5282.31 28.57 334.47 51.12 280.06 58.65 969.20 32.87 1340.79 68.56 0.93 0.94

Castings & Forgings

Bharat Forge 2413.51 14.86 273.59 13.55 194.95 20.19 1067.24 27.65 340.93 31.08 0.87 1.06

Jayaswal Neco Industries 1731.31 18.10 86.20 227.51 86.20 227.51 13.14 -4.09 342.29 16.58 2.92 5.02

Electrosteel Castings 1478.56 19.49 52.02 -51.00 18.52 -76.91 454.03 -2.21 246.49 7.73 0.62 0.82

Total (3) 5623.38 17.04 411.81 10.28 299.67 11.51 1534.41 16.77 929.71 18.81 0.92 1.18

Cement

ACC 7270.45 21.82 1438.59 16.78 1063.27 11.81 89.58 29.49 226.74 62.43 0.11 0.29

Ultratech Cement 6386.09 15.16 1007.61 28.80 945.37 29.06 521.06 -22.63 898.29 52.30 0.65 0.90

Ambuja Cements 4442.14 -6.29 1179.40 17.68 824.30 18.66 185.29 -46.64 280.81 12.09 0.07 0.25

India Cements 3605.62 37.57 637.54 33.15 571.67 27.50 48.75 25.77 177.38 602.50 0.55 0.93

Shree Cement 2513.59 53.79 260.37 47.10 232.50 48.94 17.08 - 49.60 -1.25 1.98 1.85

Madras Cements 2350.85 29.37 408.29 32.55 360.26 29.69 0.00 - 308.91 124.37 1.71 1.02

Birla Corporation 2035.06 11.75 393.57 20.64 362.77 21.21 70.19 50.78 75.02 97.94 0.27 0.42

Dalmia Cements(Bharat ) 1855.35 45.67 347.15 51.64 314.81 45.67 10.27 37.67 209.83 26.76 1.38 1.35

JK Cement 1481.44 17.37 265.17 48.45 230.21 49.34 15.98 - 18.07 -65.02 0.48 0.68

JK Lakshmi Cement 1319.18 34.46 223.67 25.58 208.37 20.86 0.00 - 8.71 -58.76 1.10 1.78

Binani Cement 1161.69 47.69 175.82 83.89 125.04 127.39 0.00 - 30.10 -56.91 1.84 2.29

Chettinad Cement Corp 1113.00 32.02 163.77 42.77 134.27 45.03 0.00 - 12.80 251.65 1.11 0.88

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Prism Cement 1035.67 16.64 241.63 25.35 211.80 29.99 4.89 55.24 20.17 -4.72 - -

OCL(I) 938.73 -4.01 116.15 49.83 101.92 48.55 24.77 -30.15 109.77 51.55 0.90 1.15

Mangalam Cement 601.70 14.29 113.55 35.40 99.43 37.03 0.00 - 4.00 10.80 0.33 0.52

Total (15) 38110.56 20.27 6972.28 27.78 5785.99 27.05 987.86 -21.58 2430.20 48.18 0.54 0.69

Ceramics - Tiles / Sanitaryware

Nitco 654.64 38.81 51.02 34.19 44.60 35.89 2.08 -75.15 235.54 26.63 0.26 0.44

Hindustan Sanitaryware 584.03 9.58 28.53 -1.99 20.28 -4.65 20.32 -27.82 63.00 19.07 0.91 0.96

Kajaria Ceramics 530.44 21.17 15.02 95.83 13.55 118.55 21.25 -59.28 122.71 -17.24 2.18 2.35

Total (3) 1769.11 22.65 94.57 26.43 78.43 30.09 43.65 -50.79 421.25 8.80 0.76 1.03

Chemicals

Castrol(I) 2251.32 8.60 218.43 41.39 45.33 4.91 19.06 38.72 389.38 -15.46 0.01 0.01

United Phosphorus 1827.44 11.80 92.52 -14.98 48.59 -43.70 851.57 11.23 757.39 32.03 0.88 1.72

Pidilite Inds 1727.72 31.97 187.95 57.02 143.66 75.54 144.19 50.86 265.67 22.12 0.78 0.28

India Glycols 1540.26 42.26 178.53 334.91 167.38 412.02 204.65 61.69 33.98 -33.84 1.15 1.74

Jindal Poly Films 1428.99 25.17 132.57 104.05 126.95 113.90 352.46 0.07 191.64 -44.00 0.19 0.30

Philips Carbon Black 1170.89 3.86 89.31 279.56 79.21 328.63 222.44 -1.25 602.94 1.27 1.22 1.55

Atul 1117.05 12.97 34.79 35.63 25.89 54.57 485.74 4.71 186.28 43.03 0.99 1.23

Savita Chemicals 1049.54 11.93 61.96 31.08 45.17 32.35 137.06 10.17 533.77 5.66 0.14 0.28

BASF(I) 1035.24 17.82 59.37 18.53 39.64 30.57 87.53 25.87 348.38 21.97 - -

Clariant Chemicals(I) 978.49 -5.69 31.79 -27.47 5.13 - 186.66 -18.60 173.84 -5.39 0.01 0.02

Aarti Inds 970.27 24.22 36.67 39.91 25.75 26.29 355.32 24.63 101.32 10.13 1.52 1.31

Godrej Inds 900.05 6.78 108.81 39.39 68.84 40.86 302.27 35.57 346.19 22.59 0.41 1.14

Gulf Oil Corp 874.51 23.80 25.13 9.21 13.98 17.88 42.98 10.40 166.70 -13.21 0.12 1.38

Gujarat Fluorochemicals 864.19 35.50 319.97 32.41 279.45 31.38 596.72 14.67 116.20 -1.77 0.51 0.62

Hindustan Organic Chem. 687.24 9.51 13.61 -20.13 13.61 -20.13 0.17 -45.16 3.12 -63.08 1.03 -

Thirumalai Chem. 663.57 7.50 30.50 18.17 20.26 22.05 91.50 7.34 294.37 - 1.50 1.23

IG Petrochemicals 629.27 3.34 30.56 2.93 29.02 -2.26 350.01 5.36 164.84 76.77 0.40 0.82

Jayant Agro Organics 607.24 33.46 6.14 16.29 4.05 16.05 517.02 33.57 2.95 -28.05 1.80 2.13

Deepak Nitrite 513.66 4.43 7.02 -80.33 3.43 -89.31 202.56 13.86 99.22 16.99 0.81 1.03

Ciba(I) 489.87 -8.74 19.34 -76.15 14.69 -80.27 70.44 9.79 240.73 -0.87 0.08 0.03

Total (20) 21326.81 15.18 1684.97 35.56 1200.03 41.16 5220.35 13.97 5018.91 12.04 0.52 0.87

Chlor-Alkali / Soda Ash

Tata Chemicals 4873.37 13.85 949.18 113.68 737.93 171.17 91.94 -18.94 1493.00 8.71 0.66 0.44

Gujarat Alkalies & Chem 1392.13 10.87 224.09 20.12 198.39 19.04 44.90 41.86 78.30 -8.62 0.29 0.45

GHCL 1206.39 26.40 100.82 -15.01 76.81 -20.90 183.06 -4.93 113.33 -28.41 2.32 2.69

Total (3) 7471.89 15.12 1274.09 70.02 1013.13 89.05 319.90 -5.25 1684.63 4.15 0.74 0.70

Cigarettes

ITC 21979.50 11.90 3120.10 15.56 1801.09 17.44 2168.41 -5.03 1158.90 -4.94 0.02 0.02

Godfrey Phillips(I) 1876.34 15.09 112.22 27.38 86.22 38.84 117.89 46.21 66.81 92.70 0.21 0.15

Total (2) 23855.84 12.15 3232.32 15.93 1887.31 18.27 2286.30 -3.28 1225.71 -2.24 0.03 0.02

Compressors / Drilling Equipment

Atlas Copco(I) 1060.86 31.79 81.00 12.44 71.98 14.22 146.20 14.06 226.18 51.54 0.42 0.21

Ingersoll-Rand(I) 586.63 -13.73 68.85 49.93 46.69 94.22 98.12 -5.87 101.96 -34.49 - -

Total (2) 1647.49 10.95 149.85 27.03 118.67 36.31 244.32 5.12 328.14 7.63 0.14 0.08

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Computers - Hardware

HCL Infosystems 12617.19 6.23 304.75 -4.12 167.91 -8.02 97.79 12.52 2139.67 9.40 0.35 0.28

Redington(I) 5780.28 22.53 67.11 58.20 35.23 53.51 79.94 24.79 1275.69 10.97 0.44 0.59

Moser Baer 2087.31 -3.07 -78.91 - -95.76 - 1344.21 -15.51 955.15 -21.34 1.33 0.82

Compuage Infocom 612.34 102.65 4.28 119.49 4.28 119.49 0.00 - 0.26 -25.71 2.27 0.79

Total (4) 21097.12 10.74 297.23 -37.03 111.66 -62.84 1521.94 -12.63 4370.77 1.18 0.91 0.66

Computers - Software - Converts

Prithvi Information Solutions 1126.03 45.97 63.71 -29.71 58.29 -31.60 1099.98 51.71 1052.84 64.03 0.92 0.76

ICSA(I) 678.55 103.62 111.14 88.63 105.85 92.11 74.86 - 16.42 - 0.55 1.37

Spanco 583.90 35.02 38.26 17.11 34.13 17.89 67.74 -41.50 63.69 -39.00 1.24 0.75

Platinum Corporation 481.22 -42.31 0.93 -10.58 0.93 -10.58 0.00 - 0.00 - 1.15 2.99

Total (4) 2869.70 21.02 214.04 16.79 199.20 16.96 1242.58 47.78 1132.95 51.82 0.89 0.88

Computers - Software - Large

Mphasis 1719.90 54.25 220.77 67.85 151.77 120.60 1563.54 51.53 527.40 61.97 - -

GTL 1489.74 53.41 121.29 127.56 92.92 392.42 52.17 -44.59 71.83 -27.85 0.76 0.79

Patni Computer Systems 1338.96 28.06 387.52 88.34 345.70 110.43 1162.46 16.64 223.20 98.81 - -

CMC 989.77 -0.49 88.22 37.63 71.55 37.65 142.49 2.68 241.19 -2.53 0.10 0.08

Polaris Software Lab 957.64 5.35 52.63 -33.87 37.83 -34.11 861.57 5.32 823.81 1.59 - -

Rolta(I) 891.59 46.72 262.94 44.27 214.66 50.97 115.67 19.94 46.29 -20.27 0.53 0.53

MindTree 761.60 27.42 104.18 15.69 96.61 16.08 683.10 - 249.32 - 0.17 0.06

Hexaware Technologies 495.75 7.37 -10.76 - -23.60 - 444.23 16.13 112.41 29.79 - -

Total (8) 8644.95 28.98 1226.79 32.59 987.44 44.92 5025.23 41.22 2295.45 31.89 0.19 0.21

Computers - Software - Medium / Small

Zylog System 612.53 51.59 82.24 52.16 77.31 50.06 399.00 -1.10 290.00 -9.13 0.14 0.27

Mastek 597.07 17.71 99.23 -3.24 71.66 -11.78 564.84 14.93 241.48 6.25 - -

Kpit Cummins Infosystems 484.34 52.00 64.08 40.10 58.63 44.73 451.24 48.49 146.39 24.43 0.32 0.64

Total (3) 1693.94 37.73 245.55 21.36 207.60 19.82 1415.08 18.04 677.87 2.08 0.15 0.26

Computers-Software-Mega

TCS 18979.67 25.22 4508.76 20.00 3138.63 19.25 16776.48 21.70 6694.77 2.51 - 0.01

Wipro 17985.00 28.22 3063.30 7.78 2186.80 11.10 12885.20 17.62 5202.80 33.59 0.33 0.03

Infosys Technologies 16850.00 22.14 4470.00 18.16 2568.00 -18.06 14490.00 19.20 6788.00 20.08 - -

HCL Technologies 4785.79 13.73 780.65 -29.15 182.07 -68.40 4545.89 22.00 1111.77 15.28 0.01 0.01

Tech Mahindra 3702.30 34.21 765.80 29.75 699.00 24.02 3563.70 30.15 1858.60 12.14 0.08 0.06

Oracle Financial Ser. Soft. 1841.63 15.78 410.87 15.85 410.87 15.88 1737.06 16.18 578.48 20.93 - -

Total (6) 64144.39 24.46 13999.38 12.63 9185.37 -0.47 53998.33 20.38 22234.42 15.93 0.09 0.01

Construction

DLF 5971.93 319.06 2574.40 534.45 1892.47 - 120.31 -39.55 152.36 154.57 0.74 -

Jaiprakash Associates 4615.65 20.49 609.67 46.94 495.07 47.31 77.45 -50.34 861.37 44.16 1.98 1.91

IVRCL Infrastructures 3771.29 58.52 210.48 48.79 191.79 49.26 0.00 - 14.16 -12.27 0.66 0.42

Nagarjuna Construction 3518.13 20.74 164.11 8.03 134.36 5.82 0.00 - 7.13 -71.76 0.57 0.62

HCC 3148.17 29.23 108.77 37.20 88.27 46.97 62.71 66.74 136.89 -29.51 1.87 1.72

Unitech 2969.72 14.24 1030.68 4.79 990.10 5.00 0.00 - 18.42 -33.38 3.37 2.72

Simplex Infrastructures 2844.72 65.13 90.08 67.72 80.19 71.16 478.17 84.54 418.97 97.27 1.02 2.49

Gammon(I) 2549.40 19.89 88.32 -10.21 83.98 -10.65 12.67 -69.04 67.77 -43.44 0.31 0.32

HDIL 2459.22 96.44 1410.51 160.33 1304.23 140.72 0.00 - 0.00 - 0.86 0.52

Omaxe 1812.04 91.23 398.80 219.47 355.41 213.97 7.07 37.55 7.31 34.38 1.49 2.85

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Parsvnath Developers 1792.24 42.13 408.74 50.39 353.33 56.61 6.75 -32.23 3.05 25.51 0.94 0.69

Lanco Infratech 1603.63 189.78 200.18 173.99 200.18 173.99 0.69 - 596.84 255.28 0.35 0.12

Era Infra Engineering 1499.28 93.13 121.37 53.40 116.75 54.84 0.00 - 32.34 109.18 3.10 2.80

Consolidated Const. Consortium 1455.94 70.34 87.09 88.30 77.85 80.04 0.27 - 2.74 -33.01 0.27 0.62

Sobha Developers 1448.31 20.93 228.30 41.34 180.90 49.55 0.02 -60.00 17.67 -31.06 1.78 0.72

Subhash Projects 1180.51 45.04 58.21 33.45 53.81 32.86 0.00 - 2.39 -84.44 0.72 0.79

Patel Engineering 1024.68 -2.58 147.61 34.03 138.70 35.49 19.11 10.65 72.47 131.39 1.05 0.65

Ruchi Infrastructure 988.55 11.30 35.56 75.35 30.25 87.42 11.27 512.50 313.87 34.21 1.94 2.15

JMC Projects(I) 920.97 83.46 30.72 91.40 25.87 81.67 0.00 - 24.41 842.47 0.65 0.51

Ahluwalia Contracts(I) 886.57 31.41 51.64 65.57 47.24 68.41 0.00 - 0.38 -90.64 0.45 0.74

Ansal Prop. & Infras. 868.44 14.01 161.57 22.49 147.38 20.82 3.14 -46.60 10.34 5.51 0.77 0.26

Unity Infraprojects 862.38 55.79 60.05 56.91 54.70 59.66 0.00 - 5.07 -35.17 0.79 0.30

Madhucon Projects 750.64 41.15 47.25 13.66 45.04 14.43 2.57 -63.96 32.31 6.18 0.40 0.45

ITD Cementation(I) 749.04 49.15 9.05 235.19 6.75 150.00 0.00 - 17.90 76.01 0.24 1.54

KNR Construction 555.12 65.93 30.81 51.25 28.00 52.59 0.00 - 7.11 109.12 0.72 1.69

Pratibha Inds 480.95 61.55 34.26 67.69 30.92 75.98 0.00 - 62.44 128.72 0.72 1.40

Total (26) 50727.52 52.85 8398.23 104.64 7153.54 108.62 802.20 8.06 2885.71 55.46 1.12 1.42

Couriers

Blue Dart Express 811.85 21.18 69.93 39.22 67.56 41.16 6.74 101.80 0.85 -25.44 - 0.04

Gati 575.51 24.83 23.78 1.80 17.01 -3.19 36.19 - 39.83 - 0.74 1.07

Total (2) 1387.36 22.67 93.71 27.34 84.57 29.25 42.93 - 40.68 -0.71 0.36 0.47

Cycles And Accessories

Tube Investments(I) 1952.66 5.29 56.50 -63.73 38.02 -70.31 154.82 5.63 151.56 20.30 0.46 0.31

Atlas Cycles(H) 595.08 -2.07 2.00 -96.27 0.54 -98.97 23.15 19.95 24.62 168.48 0.72 0.58

Total (2) 2547.74 3.47 58.50 -72.07 38.56 -78.61 177.97 7.29 176.18 30.36 0.49 0.36

Diamond Cutting / Jewellery

Rajesh Exports 8667.09 25.73 206.56 103.95 197.79 110.66 8063.97 26.33 8233.97 29.92 1.23 -

Gitanjali Gems 2654.91 19.55 138.16 68.69 122.85 68.70 1410.50 9.93 1240.83 11.02 0.59 1.43

Su-Raj Diamonds 2142.20 36.25 62.59 30.61 53.82 32.30 2135.41 44.19 1757.68 42.85 0.44 0.40

Asian Star Co. 1321.41 13.28 40.34 46.42 37.45 51.87 1022.03 -2.69 649.43 -15.98 1.65 1.91

Suashish Diamonds 1016.02 3.67 66.26 52.95 63.15 57.05 518.34 -24.19 534.89 22.31 1.53 1.05

Shrenuj & Co. 987.82 11.72 30.63 1.93 25.08 0.16 919.97 12.91 590.70 0.11 2.92 3.31

Classic Diamonds(I) 711.42 6.23 31.15 38.14 29.23 40.53 669.45 13.04 523.92 66.62 1.61 2.14

Flawless Diamonds(I) 556.43 84.62 24.11 232.09 23.28 250.60 156.18 6.14 367.71 8.65 1.10 1.34

Total (8) 18057.30 22.94 599.80 65.77 552.65 70.18 14895.85 19.79 13899.13 24.78 1.03 2.39

Diversified - Large

Kesoram Inds 3479.17 35.61 383.35 44.29 358.19 44.79 198.01 -2.58 278.31 21.41 1.24 1.33

DCM Shriram Consolidated 2720.38 -6.38 670.99 - 614.58 - 0.08 -97.30 128.55 17.24 1.53 2.76

Prakash Inds 1423.30 35.45 198.72 49.65 198.72 49.65 10.85 -35.80 2.14 -74.58 0.40 0.74

ICI(I) 1100.00 2.44 60.21 -86.57 29.51 -91.27 6.86 -37.75 148.10 -19.56 - -

DCM Shriram Inds. 781.94 0.56 -4.21 - -4.21 - 0.00 - 0.00 - 1.70 1.31

Total (5) 9504.79 13.51 1309.06 46.38 1196.79 59.07 215.80 -7.83 557.10 4.83 0.92 1.07

Diversified - Medium / Small

JBF Inds 2326.13 43.32 138.73 71.76 128.22 87.92 277.14 86.12 384.40 93.97 0.91 1.34

Sintex Inds 1834.85 48.03 216.33 65.67 202.68 69.14 40.04 11.56 57.85 201.30 1.05 1.04

Nava Bharat Ventures 967.97 59.39 314.85 124.16 271.11 134.99 495.93 149.80 108.44 138.02 0.50 1.13

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Manaksia 793.62 13.84 41.01 33.37 26.98 -8.88 388.62 19.84 324.91 32.58 0.35 1.10

Aban Offshore 731.81 29.62 159.10 59.74 119.45 59.37 552.82 7.33 140.14 41.20 1.44 1.56

3M India 655.03 20.12 67.68 34.23 67.68 34.23 4.09 -34.24 210.14 -2.26 - -

Alps Inds 639.94 47.43 11.88 -60.86 10.15 -63.44 95.57 4.59 180.86 375.70 2.37 1.35

Total (7) 7949.35 39.20 949.58 68.69 826.27 69.95 1854.21 40.44 1406.74 63.52 0.97 1.17

Diversified - Mega

Grasim Inds 11929.40 21.06 2232.60 45.37 1957.58 52.49 386.86 37.83 1434.68 57.67 0.39 0.47

Aditya Birla Nuvo 4204.56 15.30 243.07 8.05 188.44 8.52 634.54 45.05 1307.10 27.53 0.75 0.91

Century Textiles & Inds 3924.45 9.44 303.43 7.50 261.56 5.74 197.63 -11.85 573.31 68.50 1.09 1.21

Voltas 3121.14 25.38 208.37 11.98 163.70 7.00 152.04 35.90 492.51 78.32 0.09 0.22

Raymond 1475.21 6.10 66.12 -67.15 50.77 -70.23 151.50 -33.00 227.46 -40.05 0.63 0.58

Rallis(I) 851.29 11.87 125.19 115.44 99.41 137.14 163.92 4.12 163.66 19.09 0.14 0.16

Total (6) 25506.05 17.39 3178.78 27.74 2721.46 31.46 1686.49 17.30 4198.72 36.85 0.54 0.65

Domestic Appliances

Whirlpool(I) 1980.02 20.85 32.32 - 32.32 - 217.83 -8.36 394.26 50.94 0.88 1.11

Value Inds 1365.91 14.73 12.76 234.91 10.57 425.87 0.00 - 77.51 -1.86 1.91 1.64

Sujana Universal Inds 913.98 2.41 22.46 16.19 22.22 15.31 222.43 -11.64 919.88 -9.08 0.44 0.64

Total (3) 4259.91 14.47 67.54 279.01 65.11 307.96 440.26 -10.05 1391.65 2.93 1.15 1.19

Dry Cells

Amara Raja Batteries 1375.60 82.23 94.36 100.60 90.37 109.92 40.29 40.19 380.87 63.09 0.95 0.58

HBL Power Systems 1137.67 92.10 67.09 109.13 63.45 123.10 78.75 -3.74 264.28 207.45 1.16 0.74

Total (2) 2513.27 86.57 161.45 104.06 153.82 115.16 119.04 7.68 645.15 101.92 1.05 0.66

Electric Equipment

BHEL 22845.77 16.78 2859.34 18.41 2112.82 16.41 939.09 -14.31 3604.18 38.42 0.01 0.01

ABB 6454.31 37.96 491.67 44.48 445.05 49.38 466.37 -5.37 1525.33 23.89 - -

Crompton Greaves 4296.62 16.24 313.92 63.19 255.27 75.76 757.24 22.88 364.15 -2.30 0.09 0.40

Havells(I) 2245.71 33.16 143.54 40.52 129.06 45.49 141.71 47.55 304.99 145.13 0.06 0.21

Apar Inds 1906.42 13.94 85.47 85.93 67.69 98.85 717.59 97.07 1165.50 50.67 0.32 0.63

Alstom Projects(I) 1635.92 27.62 73.31 -32.98 19.69 -53.53 261.08 -22.97 199.78 -0.23 - 0.01

BGR Energy Systems 1513.99 92.72 84.44 115.41 70.04 94.77 130.57 34.62 184.48 363.75 1.06 2.90

Emco 1047.01 42.12 64.45 58.74 56.21 58.34 92.48 38.32 80.18 11.72 0.82 0.62

Kirloskar Electric Co. 770.95 24.11 23.67 35.33 23.67 35.33 36.88 98.60 5.94 7.03 0.35 0.33

Bharat Bijlee 641.26 18.63 73.29 33.06 56.34 37.58 4.44 -18.23 14.75 18.86 0.11 0.22

Total (10) 43357.96 22.96 4213.10 25.49 3235.84 26.74 3547.45 11.14 7449.28 37.05 0.08 0.09

Electrodes - Graphites

Graphite(I) 1192.09 27.04 133.65 -31.06 88.32 -41.04 644.97 33.39 257.21 13.25 0.68 0.98

HEG 1009.55 13.72 146.35 98.20 102.59 91.08 704.04 51.31 245.70 27.48 1.35 2.48

Total (2) 2201.64 20.56 280.00 4.59 190.91 -6.18 1349.01 42.18 502.91 19.78 0.97 1.54

Electronics - Components

Siemens 8193.25 65.04 596.54 65.65 515.62 74.17 2671.41 152.95 2649.36 42.17 - -

Bharat Electronics 4345.01 4.69 826.74 15.12 661.14 15.15 0.06 50.00 0.01 - - -

ITI 1636.12 -17.82 -358.38 - -358.38 - 9.12 -50.60 500.21 -44.68 3.25 1.62

Samtel Color 965.42 -30.10 -70.84 - -70.84 - 27.76 -85.07 144.37 -66.53 2.96 2.06

Honeywell Automation(I) 900.97 34.80 65.09 12.20 56.25 14.40 222.14 14.28 321.55 39.31 0.05 0.07

Total (5) 16040.77 21.93 1059.15 59.27 803.79 79.37 2930.49 101.42 3615.50 5.41 0.47 0.43

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Electronics - Consumer

Videocon Inds 8876.62 16.85 855.22 4.49 771.24 4.54 438.12 -4.31 1013.66 -16.43 0.93 0.98

Mirc Electronics 1658.76 0.22 34.59 1.38 20.39 -13.12 27.88 2.42 555.22 64.24 0.78 0.69

Salora International 1124.49 24.78 23.35 43.52 19.39 57.51 78.03 226.35 799.03 14.96 0.73 0.39

Trend Electronics 870.41 6.47 1.73 -28.81 1.35 -34.15 0.09 - 37.61 -9.87 2.89 3.07

Total (4) 12530.28 14.22 914.89 5.00 812.37 4.74 544.12 6.91 2405.52 5.14 0.94 0.99

Engineering

Larsen & Toubro 25862.58 40.38 2173.42 54.91 1678.10 62.17 5656.59 50.02 4530.93 30.03 0.38 0.36

Punj Lloyd 4541.76 97.00 221.44 259.60 209.30 289.47 0.00 - 0.00 - 0.57 1.38

BEML 2847.41 6.58 225.65 10.11 225.65 46.74 0.00 - 0.00 - 0.18 0.02

Lakshmi Machine Works 2620.81 18.30 242.30 17.51 186.64 19.09 129.49 57.38 411.04 32.53 - -

Sadbhav Engg 881.95 79.44 53.00 99.32 48.00 116.12 1.81 -4.74 2.91 -75.79 0.53 0.50

Engineers(I) 857.44 26.48 193.78 40.45 132.01 56.00 100.16 -20.95 55.69 -33.94 - -

AIA Engg 667.17 52.69 108.31 61.85 100.79 67.04 273.06 55.96 44.37 66.68 - -

Titagarh Wagons 651.78 102.21 60.57 107.50 51.35 95.62 0.00 - 142.45 129.24 0.24 0.36

McNally Bharat Engg. 564.13 7.70 22.40 28.00 19.23 29.76 9.94 -34.00 25.90 81.37 0.46 1.25

Total (9) 39495.03 40.71 3300.87 53.25 2651.07 64.94 6171.05 44.96 5213.29 30.00 0.33 0.38

Engineering - Turnkey Services

Container Corporation 3511.77 11.77 750.52 7.82 581.54 5.14 0.00 - 45.96 37.77 - -

Thermax 3371.09 50.41 280.78 49.51 185.45 59.44 352.48 15.33 389.82 32.36 - -

Balmer Lawrie & Co. 1575.74 14.46 86.93 23.80 59.24 22.83 13.71 8.21 154.44 14.41 0.02 0.04

Electrotherm(I) 1356.81 80.98 62.18 43.94 58.72 44.45 0.00 - 174.15 95.52 2.17 1.83

Texmaco 949.49 97.53 69.09 142.59 60.86 149.94 2.43 -37.53 215.67 205.78 0.30 0.33

Elecon Engg 836.23 14.73 67.20 22.40 53.27 5.99 37.03 52.32 140.82 94.96 1.73 1.51

Praj Inds 770.67 17.75 153.54 77.44 117.29 83.52 320.76 72.92 86.26 -4.66 - -

TIL 756.99 26.78 32.24 75.50 28.23 82.84 14.16 77.67 162.85 16.44 0.64 0.99

Alfa Laval(I) 713.30 17.67 91.49 31.38 46.09 90.14 266.14 45.48 214.48 48.71 0.07 0.03

Walchandnagar Inds 672.91 75.03 35.56 167.57 32.56 172.70 113.92 86.69 45.68 54.53 0.12 0.15

LG Balakrishnan & Bros 619.57 12.80 14.86 -35.28 12.11 -35.41 44.03 19.06 28.76 10.83 1.63 2.27

Total (11) 15134.57 31.48 1644.39 27.33 1235.36 27.73 1164.66 41.87 1658.89 47.49 0.27 0.24

Engines

Cummins(I) 2753.39 27.69 280.69 15.96 189.61 16.43 742.05 19.74 440.19 15.87 0.03 -

Kirloskar Oil Engines 2443.83 12.67 118.95 -33.33 80.12 -42.60 163.89 17.93 352.88 7.20 0.37 0.12

Greaves Cotton 1325.25 7.91 110.16 -9.94 80.86 -8.26 37.48 51.86 93.64 8.07 0.13 0.13

Total (3) 6522.47 17.45 509.80 -6.08 350.59 -10.24 943.42 20.43 886.71 11.43 0.18 0.07

Entertainment / Electronic Media Software

Zee Entertain. Enterprises 1143.92 23.12 295.12 77.56 208.32 105.91 98.27 -14.56 25.85 -83.11 0.10 0.13

Sun Network 925.99 27.48 366.98 36.52 268.46 28.61 38.53 11.94 103.29 - - -

Total (2) 2069.91 25.03 662.10 52.20 476.78 53.84 136.80 -8.45 129.14 -19.04 0.06 0.08

Fertilizers

Rashtriya Chem. & Fert. 5331.99 46.28 158.15 6.33 102.98 10.06 0.13 -86.87 289.37 -54.28 0.81 0.66

National Fertilizers 4223.04 8.03 108.65 -38.30 76.05 -38.31 0.00 - 15.79 9.96 0.37 0.24

Coromandel Fertilisers 3844.42 81.27 209.76 108.22 160.80 113.92 60.86 -6.94 2652.52 100.58 1.26 1.07

GSFC 3807.26 5.47 238.45 -10.66 202.59 -12.32 33.71 -53.07 1291.05 13.26 0.38 0.71

GNFC 3702.76 23.76 372.88 14.22 306.83 17.82 0.00 - 0.00 - 0.17 0.22

Chambal Fertilisers 2802.72 7.21 203.80 34.85 128.88 69.11 172.89 64.44 51.02 6.83 1.58 1.85

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Zuari Inds 2677.46 9.93 73.41 -81.35 64.58 -83.28 0.00 - 1039.50 -1.09 0.99 1.10

Nagarjuna Fert. & Chem. 2213.43 20.08 22.49 -29.08 22.49 -29.08 0.31 - 48.15 9.61 0.87 0.79

Mangalore Chem. & Fert. 1634.49 18.92 40.46 47.34 33.35 63.88 0.34 325.00 959.69 20.58 1.02 0.66

Deepak Fert. & Petrochem. 1177.43 24.98 100.27 7.90 69.40 4.41 67.03 179.76 336.44 33.84 0.50 0.51

SPIC 1057.81 -52.70 -377.88 - -377.88 - 30.40 2.98 97.24 -68.44 - -

Fert. & Chem. Travancore 913.25 -40.58 8.97 - 8.97 - 32.45 -70.81 465.83 39.06 1.85 2.04

EID Parry(I) 748.39 -1.15 -16.58 - -21.04 - 223.20 573.71 5.35 12.63 1.14 0.66

Total (13) 34134.45 13.72 1142.83 -21.61 778.00 -26.18 621.32 40.82 7251.95 21.93 0.99 0.92

FMCG

Hindustan Unilever 15220.10 13.67 1925.47 3.78 -50.65 - 1483.71 3.32 954.58 1.43 0.06 0.03

Ruchi Soya Inds 11156.02 28.30 159.23 58.12 147.98 64.17 1846.43 31.28 3580.46 55.39 1.44 1.65

United Spirits 5561.54 16.96 311.28 -36.99 296.25 -36.87 1.96 -58.30 79.23 15.43 0.58 1.09

Nestle(I) 3672.62 23.87 413.81 31.33 95.64 38.13 326.69 18.42 283.78 11.50 0.01 0.04

Nirma 2679.82 3.67 229.73 110.53 165.90 267.36 55.71 0.65 346.85 4.07 0.17 0.13

Britannia Inds 2667.85 13.59 191.00 77.43 148.00 106.10 11.56 -20.88 5.75 -50.52 0.14 0.01

Dabur(I) 2145.70 29.74 316.77 25.66 187.17 44.03 94.10 36.00 21.50 98.71 0.03 0.05

Colgate Palmolive(I) 1637.99 12.78 231.71 44.67 54.92 77.28 65.58 76.34 92.52 -17.53 0.03 0.02

Marico 1585.43 14.34 143.41 23.46 103.52 37.20 81.44 -9.66 12.54 -70.65 1.09 0.91

GlaxoSmithkline Cons Health 1464.36 16.00 162.68 28.17 112.21 32.21 69.78 14.54 3.81 -11.60 - -

Agro Tech Foods 1013.93 -2.61 16.26 1.06 16.26 1.06 2.15 95.45 65.25 74.09 0.10 0.13

Eveready Inds(I) 960.48 8.57 -19.32 - -19.32 - 16.03 12.49 88.30 -41.05 0.73 0.75

Godrej Consumer Products 928.30 15.50 148.12 26.36 55.36 70.18 17.27 20.10 184.62 40.45 0.89 1.02

Bata(I) 903.81 9.96 51.09 27.25 38.24 -4.76 9.41 -13.03 63.57 57.08 0.21 0.29

Jagatjit Inds 803.74 24.78 17.62 7.64 17.62 7.64 21.32 155.94 17.36 -19.41 0.14 0.15

P & G Hygiene & Health Care 669.82 17.64 131.42 46.31 66.50 167.07 2.17 -13.89 110.63 34.36 - -

Heritage Foods(I) 628.16 80.74 0.94 -45.66 -0.88 - 0.00 - 0.00 - 1.33 1.51

Gillette(I) 624.96 23.63 117.37 23.66 76.64 34.72 15.78 -7.72 109.69 92.34 - -

Venkys(I) 530.11 26.71 26.61 130.99 23.32 168.05 3.56 4.40 8.21 4.45 0.79 0.87

Total (19) 54854.74 17.89 4575.20 14.05 1534.68 -13.67 4124.65 17.10 6028.65 30.74 0.37 0.37

Food - Processing - Indian

JVL Agro Ind 1168.52 68.00 23.68 111.05 22.18 119.60 0.34 -91.77 764.06 104.61 0.84 2.35

KRBL 1008.11 9.47 54.75 10.58 49.06 11.58 498.24 13.86 14.75 -22.65 2.14 1.56

Hatsun Agro Product 869.43 46.81 17.33 112.64 12.85 105.60 112.87 111.09 2.58 -0.77 2.66 2.42

Anik Inds 758.39 58.35 23.26 101.56 19.93 142.75 28.87 107.40 303.88 25.55 0.99 0.84

Kohinoor Foods 637.38 7.59 5.34 -75.80 5.34 -73.45 333.34 4.89 62.97 68.96 4.17 3.25

LT Foods 573.69 18.47 28.22 37.06 24.88 35.51 230.86 35.28 26.69 -42.15 2.89 2.35

Total (6) 5015.52 33.24 152.58 23.97 134.24 25.46 1204.52 20.75 1174.93 63.06 2.25 1.91

Gas Distribution

Gail(I) 19136.56 11.97 2601.46 9.00 1755.81 13.94 6.87 -75.68 812.19 -13.61 0.10 0.12

Petronet LNG 6608.89 19.17 474.65 51.52 362.15 64.99 0.42 -27.59 5472.54 15.41 0.97 1.08

Gujarat Gas Co. 1229.74 43.87 159.09 78.95 138.77 92.23 0.00 - 18.98 -29.49 - 0.01

Indraprastha Gas 840.37 16.07 174.46 26.46 118.46 23.45 0.04 -55.56 18.07 -5.39 0.01 0.01

Total (4) 27815.56 14.87 3409.66 16.50 2375.19 23.15 7.33 -74.65 6321.78 10.37 0.18 0.20

Glass & Glass Products

Asahi India Glass 1173.88 30.30 13.67 -67.71 13.67 -57.20 70.54 80.13 335.59 -17.62 4.73 4.32

Hind.Nat.Glass 1159.48 92.74 160.34 368.28 153.35 362.73 40.32 83.02 94.07 8.99 0.49 1.09

Piramal Glass 530.07 22.42 16.26 -54.00 13.56 -61.64 225.57 34.60 91.13 18.43 2.78 2.02

Total (3) 2863.43 47.94 190.27 69.99 180.58 79.81 336.43 47.05 520.79 -8.74 1.80 2.60

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Hotels

Indian Hotels Co. 1830.18 11.36 377.46 17.08 262.92 16.37 810.54 10.73 81.75 56.13 0.56 0.52

EIH 1151.12 15.67 217.23 8.43 146.50 0.80 597.32 13.59 233.85 57.15 0.62 0.67

Hotel Leelaventure 589.11 27.31 150.12 18.74 131.23 19.55 324.26 25.97 51.45 -1.98 2.19 1.06

Asian Hotels 534.26 28.70 132.03 44.30 129.60 88.65 338.25 25.51 67.15 23.78 0.09 0.17

Total (4) 4104.67 16.72 876.84 18.38 670.25 21.92 2070.37 16.00 434.20 41.02 0.72 0.57

Media

HT Media 1226.92 13.65 144.55 25.63 135.18 25.13 6.77 -19.88 333.10 13.37 0.23 0.21

Deccan Chronicle 820.25 40.17 271.94 68.53 198.56 44.01 0.00 - 143.72 -23.47 0.76 0.73

Jagran Prakashan 771.10 23.78 98.13 28.75 37.90 22.10 0.40 -84.79 91.02 3.56 0.15 0.21

Total (3) 2818.27 23.19 514.62 45.93 371.64 34.19 7.17 -42.91 567.84 -0.29 0.44 0.41

Mining / Minerals / Metals

Sterlite Inds(I) 14053.98 10.98 951.63 21.38 668.23 19.20 7075.36 -1.95 11818.06 6.16 0.25 0.63

Hindustan Zinc 9588.54 1.45 4396.07 -1.03 4184.81 -1.08 2257.48 -46.42 436.24 43.05 - -

NMDC 6379.69 40.60 3250.98 40.12 2599.45 40.13 0.00 - 20.72 33.16 - -

Neyveli Lignite Corp. 3689.44 15.03 1101.57 94.36 766.03 109.61 0.00 - 219.16 -17.64 0.31 0.18

Sesa Goa 3672.41 64.91 1492.00 146.04 1314.87 192.87 2852.96 104.50 260.91 -7.26 - -

Hindustan Copper 1993.48 4.42 246.40 -21.51 246.40 -21.51 75.46 -3.50 591.49 83.82 0.13 0.34

Ashapura Minechem 1507.08 65.27 136.04 25.36 123.41 27.52 817.95 34.90 676.94 12.44 0.49 0.35

Adhunik Metaliks 1115.14 36.01 80.46 3.86 69.48 1.65 80.79 246.59 0.29 - 2.87 1.75

GMDC 1037.68 66.57 263.93 142.85 232.13 201.94 5.88 - 0.66 214.29 0.63 1.14

Gujarat NRE Coke 918.89 72.21 172.88 210.21 69.09 565.61 0.00 - 0.00 - 0.57 1.39

Precision Wires(I) 690.35 -0.31 17.25 2.80 13.09 2.83 8.40 268.42 124.98 103.55 0.54 0.77

Total (11) 44646.68 18.82 12109.21 28.82 10286.99 27.95 13174.28 -2.67 14149.45 8.11 0.18 0.23

Miscellaneous

Titan Inds 3042.86 42.21 158.29 67.80 122.78 71.12 142.40 18.22 1155.02 156.57 0.59 0.75

Kirloskar Brothers 1568.10 -0.80 110.14 -67.27 67.83 -76.94 149.69 -34.02 130.97 -17.09 0.29 0.23

BL Kashyap & Sons 1564.61 91.73 115.36 107.41 107.14 105.96 0.00 - 0.49 122.73 0.29 0.32

Sundram Fasteners 1352.75 0.66 67.38 -6.23 48.47 -9.35 344.31 -5.12 344.14 12.12 1.31 1.17

Transport Corp(I) 1203.88 10.46 28.47 -6.87 24.12 -9.05 8.70 132.00 23.10 -45.45 0.87 1.16

Apollo Hospitals 1150.06 27.85 101.75 1.68 66.54 -10.38 13.00 -1.59 35.72 12.40 0.25 0.19

Bayer CropScience 1074.92 21.95 39.28 -30.92 31.70 -33.09 136.97 -4.10 203.18 3.10 0.19 0.33

Mundra Port 875.26 46.61 213.41 13.86 153.31 - 16.00 - 277.08 184.04 0.73 1.72

Dredging Corp 771.47 23.20 154.82 -17.97 112.82 -23.11 0.00 - 69.24 117.94 0.01 0.03

Carborundum Universal 745.25 35.95 97.17 65.65 78.50 75.77 86.22 28.72 132.94 23.12 0.85 0.66

Century Ply 641.56 41.81 44.62 118.30 33.47 63.75 22.69 37.27 190.91 133.16 0.84 0.93

VIP Inds 581.04 26.51 20.10 40.27 11.62 45.98 87.63 23.75 24.86 24.36 0.95 0.97

Hyderabad Inds 528.62 9.86 14.08 0.79 10.35 1.07 7.00 0.29 96.84 -5.00 0.60 0.52

Firstsource Solutions 514.26 16.92 57.64 -22.40 57.64 -22.40 371.07 -5.83 24.33 -17.22 1.79 0.07

Total (14) 15614.64 26.38 1222.51 -6.22 926.29 -1.15 1385.68 -3.28 2708.82 63.48 0.60 0.51

Oil & Gas

Indian Oil Corp 274546.12 13.94 6962.58 -7.16 6306.77 20.16 11453.93 25.51 123323.86 24.10 0.86 0.78

Reliance Inds 144898.25 21.94 19458.29 62.92 17827.05 69.73 76010.76 29.86 105425.85 28.98 0.46 0.44

BPCL 123079.49 13.75 1580.56 -12.46 1435.94 17.03 7440.16 33.21 34560.75 17.87 1.29 1.05

HPCL 113296.24 16.08 1134.88 -27.77 1033.29 7.59 6930.17 33.30 58558.11 5.77 1.59 1.10

ONGC 65134.69 6.56 16701.65 6.77 9857.26 9.37 3794.72 26.89 10052.92 9.55 - 0.01

MRPL 37550.68 16.32 1272.23 142.09 1061.88 175.61 11141.45 -4.08 25309.37 35.85 0.54 0.86

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Chennai Petroleum Corp 33165.04 12.53 1122.95 98.66 869.80 125.00 0.00 - 19966.52 13.40 0.71 0.70

Bongaigaon Refinery 6729.75 4.00 294.30 59.10 194.39 68.98 0.00 - 1333.54 4.19 0.27 0.11

Essar Oil 576.78 19.08 -41.18 - -41.18 - 11493.11 405.82 17714.79 175.68 2.90 3.05

Total (9) 798977.04 14.89 48486.26 22.22 38545.20 38.80 128264.30 34.56 396245.71 24.25 0.53 0.47

Packaging

Uflex 1548.29 7.44 61.93 47.14 35.93 73.41 342.40 -0.13 249.97 40.56 2.13 2.52

Paper Products 655.09 10.83 28.37 -28.97 17.09 -40.37 101.76 40.44 137.55 28.42 0.28 0.15

Cosmo Films 628.28 9.18 44.50 79.29 34.78 104.11 332.66 19.91 123.33 7.66 0.83 1.17

Garware Polyester 619.02 8.54 10.38 387.32 10.38 387.32 279.81 14.10 42.09 -19.03 1.64 2.91

Total (4) 3450.68 8.59 145.18 33.22 98.18 43.22 1056.63 12.65 552.94 22.47 1.52 1.88

Paints / Varnishes

Asian Paints 4145.27 21.16 375.20 37.92 212.14 43.97 24.29 0.91 357.18 51.79 0.10 0.17

Kansai Nerolac Paints 1626.49 8.43 119.79 11.27 87.45 14.06 5.49 161.43 201.64 15.71 0.16 0.21

Berger Paints(I) 1537.33 14.99 92.08 10.85 76.14 48.77 1.32 -15.38 100.33 1.13 0.35 0.42

Total (3) 7309.09 16.79 587.07 26.86 375.73 36.53 31.10 12.15 659.15 29.56 0.17 0.23

Paper

Orient Paper & Inds. 1545.39 18.28 204.48 56.47 180.05 58.72 65.30 23.32 33.62 220.19 0.33 1.86

Ballarpur Inds 1134.26 -52.65 129.45 -48.38 90.56 -53.99 30.16 -81.18 134.58 -67.34 0.74 0.67

Tamil Nadu Newsprint 1084.95 11.21 112.83 31.11 81.69 39.93 138.22 -19.83 245.78 -37.30 0.86 0.97

Balkrishna Inds 1018.35 12.03 106.83 28.49 86.53 37.70 880.33 32.36 402.42 27.02 1.30 1.15

J K Paper 1017.06 8.12 46.28 0.81 30.57 8.52 17.21 -42.38 79.19 -19.67 1.84 1.85

West Coast Paper 668.15 6.82 81.90 23.23 64.69 21.94 18.91 -23.32 151.13 379.93 1.01 0.73

Seshasayee Paper & Boards 647.02 8.35 45.79 10.60 41.29 10.22 32.03 -39.97 164.04 4.89 1.87 1.73

A P Paper 641.50 15.82 16.54 -31.45 13.97 -35.20 40.74 38.01 127.47 47.62 1.28 1.33

Total (8) 7756.68 -6.59 744.10 2.13 589.35 3.08 1222.90 2.93 1338.23 -11.03 1.00 1.00

Pesticides / Agrochemicals - Indian

Meghmani Organics 660.17 31.58 37.60 -8.02 29.97 -10.96 425.06 34.57 400.41 26.15 0.45 0.61

Excel Crop Care 574.31 26.66 24.70 33.59 19.20 33.70 176.35 24.95 135.24 38.40 1.06 1.19

Total (2) 1234.48 29.24 62.30 4.94 49.17 2.39 601.41 31.60 535.65 29.03 0.59 0.76

Petrochemicals

Jubilant Organosys 2236.47 21.30 392.27 69.45 370.34 73.48 856.27 35.16 297.07 10.43 1.21 1.66

Finolex Inds 1675.51 33.77 71.19 1.87 33.98 4.01 0.00 - 915.28 41.01 1.25 0.91

Supreme Petrochem 1619.78 -0.14 23.51 -27.17 13.67 -39.33 530.70 -20.54 1193.61 -5.33 0.74 0.83

South Asian Petrochem 1084.31 1.25 55.53 24.26 43.87 -1.83 600.68 -6.92 352.75 -18.21 0.93 1.20

Tamilnadu Petro Products 912.66 -4.40 -11.91 - -11.91 - 45.52 -25.09 14.61 -75.28 0.52 0.57

DCW 877.34 13.81 35.79 77.44 29.91 99.53 89.16 25.42 327.94 33.16 1.24 0.84

Chemplast Sanmar 811.93 14.71 6.48 -72.06 6.48 -72.06 72.20 291.97 127.63 25.66 3.35 1.99

Total (7) 9218.00 12.11 572.86 39.50 486.34 42.84 2194.53 4.65 3228.89 7.02 1.24 1.23

Pharmaceuticals - Indian - Bulk Drugs

Lupin 2807.28 26.71 443.38 46.79 361.30 37.96 1530.47 36.23 766.65 32.22 0.73 0.97

Orchid Chem. & Pharma. 1322.69 39.87 184.54 90.98 155.17 130.84 1049.79 43.72 365.23 -27.92 2.84 3.26

Ankur Drugs 677.11 79.79 63.50 94.01 58.67 90.30 0.70 -11.39 74.40 29.12 2.93 3.35

Elder Pharma 574.69 21.98 68.65 30.09 63.94 32.90 23.31 103.58 48.11 32.64 0.89 0.73

Total (4) 5381.77 34.24 760.07 56.98 639.08 56.62 2604.27 39.55 1254.39 6.27 1.49 1.70

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Pharmaceuticals - Indian - Bulk Drugs & Formulations

Ranbaxy Laboratories 4823.02 18.67 617.72 62.33 300.57 372.22 2660.86 -3.45 1118.77 1.61 1.38 1.35

Cipla 4428.87 17.67 701.43 5.00 545.97 6.52 2255.21 20.92 1067.70 39.52 0.15 0.04

Dr Reddys Laboratories 3640.84 -12.53 475.22 -59.62 412.16 -63.00 2366.84 -23.47 1071.02 36.90 0.10 0.08

Sun Pharma. Inds 3338.43 35.51 1014.04 61.23 796.52 59.66 895.07 71.08 373.51 -4.64 0.02 0.44

Aurobindo Pharma 2512.09 21.00 290.78 26.93 273.21 26.64 1437.79 23.81 1107.59 6.60 1.44 2.13

Cadila Healthcare 1871.10 16.00 236.20 15.39 179.70 16.31 437.90 41.39 248.70 5.07 0.70 0.51

Glenmark Pharma 1427.37 66.01 389.02 188.59 371.87 198.62 684.21 114.39 180.86 45.66 0.51 2.02

Ipca Laboratories 1135.15 15.36 141.12 15.45 121.08 17.01 519.84 10.87 198.31 5.97 0.58 0.49

Alembic 1038.38 42.10 112.19 58.73 91.42 60.87 293.98 95.44 164.59 76.30 1.24 0.87

Matrix Laboratories 1020.91 24.63 -298.36 - -298.36 - 639.31 21.48 248.30 -7.55 0.64 0.23

Torrent Pharma 1009.01 11.53 155.52 37.68 128.61 46.85 232.75 34.02 217.54 17.77 0.58 0.60

Unichem Laboratories 601.16 4.82 77.23 -14.37 59.21 -17.96 116.27 -6.16 29.69 -15.61 0.05 0.07

JB Chemicals & Pharma. 583.52 5.89 51.69 -27.22 47.47 -3.32 319.49 11.04 129.60 -2.85 0.42 0.41

FDC 544.41 12.95 65.76 2.22 46.61 3.17 40.81 -0.24 33.09 -19.76 0.03 0.01

Total (14) 27974.26 16.33 4029.56 -0.60 3076.04 -3.81 12900.33 9.34 6189.27 14.96 0.43 0.51

Pharmaceuticals - Indian - Formulations

Divis Laboratories 1054.73 41.89 353.56 84.39 327.74 83.26 967.00 43.42 227.00 26.75 0.10 0.28

Nectar Lifesciences 787.45 61.58 83.70 48.80 77.61 45.69 393.23 106.55 432.43 32.54 1.71 2.03

Emami 607.52 13.21 92.75 40.70 64.78 57.77 36.13 -4.44 7.74 -25.22 0.13 0.10

Ind-swift 519.22 36.73 31.25 49.88 29.76 53.72 11.50 59.72 11.46 -65.29 2.20 2.03

Total (4) 2968.92 38.28 561.26 67.66 499.89 70.89 1407.86 54.77 678.63 23.68 0.62 0.74

Pharmaceuticals - Multinational

GlaxoSmithKline Pharma 1802.68 3.16 537.66 -1.44 232.73 -17.74 83.73 41.15 133.81 -1.78 - -

Pfizer 1115.71 35.17 338.93 220.56 256.87 565.64 22.07 -22.67 45.06 -13.16 - -

Aventis Pharma 1005.65 2.22 144.42 -14.69 107.57 12.53 184.56 -21.78 225.87 1.33 - -

Abbot(I) 662.09 18.01 68.43 14.07 43.10 29.62 3.93 11.02 16.07 -29.18 - 0.01

Novartis(I) 618.64 3.41 97.23 9.80 65.27 15.34 9.16 29.75 66.31 -24.48 - 0.02

Total (5) 5204.77 10.37 1186.67 22.45 705.54 39.17 303.45 -9.26 487.12 -6.59 - 0.01

Plastics Products

Jain Irrigation Systems 1986.88 31.80 145.54 46.85 126.11 53.31 408.26 9.52 279.97 0.77 0.98 1.55

Supreme Inds 1320.52 12.95 51.11 1.91 29.01 -1.43 65.79 -21.29 554.76 67.97 1.20 1.01

Sanghi Inds 953.28 10.03 106.40 -25.47 106.40 -25.47 199.66 -40.41 32.96 -23.17 1.47 1.69

Nilkamal 893.94 66.56 57.36 725.32 49.05 - 14.48 85.88 79.58 288.76 1.54 1.13

Time Techno 548.88 34.74 63.52 62.21 57.24 55.67 23.51 -13.85 202.12 144.79 0.42 0.69

Total (5) 5703.50 27.11 423.93 25.37 367.81 24.42 711.70 -13.89 1149.39 52.43 1.10 1.38

Power Generation And Supply

NTPC 40229.10 13.11 7414.80 8.01 4528.90 7.16 3.50 250.00 1632.30 42.35 0.52 0.50

Reliance Infrastructure 7501.20 14.08 1084.63 35.33 936.90 37.71 0.72 227.27 447.37 -41.22 0.46 0.63

Suzlon Energy 7051.62 28.95 1265.71 19.28 1116.02 21.87 2837.75 59.64 2775.36 41.30 0.44 0.31

Tata Power Co. 6381.75 26.14 869.90 24.84 628.52 23.58 18.82 -81.96 1535.10 52.02 0.48 0.77

PTC(I) 3949.31 4.31 48.63 38.19 25.89 28.23 0.00 - 1.46 256.10 - -

Torrent Power 3732.84 28.42 211.24 47.19 154.55 46.19 0.00 - 205.59 -86.74 0.88 0.60

CESC 2776.52 7.92 355.36 18.18 305.39 12.61 1.19 - 134.73 31.74 0.36 0.47

Gujarat Industries Power 962.15 8.99 102.29 -44.08 64.48 -57.77 0.00 - 0.94 88.00 0.60 0.50

Total (8) 72584.49 15.55 11352.56 12.55 7760.65 12.79 2861.98 51.98 6732.85 3.02 0.50 0.53

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Retailing

Pantaloon Retail(I) 5326.81 52.77 125.97 4.98 115.30 2.53 54.42 41.68 151.58 299.63 1.23 1.19

Vishal Retail 1013.07 67.44 40.64 62.11 40.64 62.11 0.00 - 56.51 50.93 1.96 1.91

Trent 546.43 15.67 32.58 3.17 18.91 -7.98 15.45 22.23 8.20 69.07 0.11 0.17

Total (3) 6886.31 50.87 199.19 12.77 174.85 10.62 69.87 36.87 216.29 169.62 1.05 1.00

Ship Breaking & Repairing

ABG Shipyard 980.74 35.34 160.68 38.17 150.50 38.52 199.71 37.97 683.42 61.82 0.71 0.70

Bharati Shipyard 708.72 65.47 107.45 46.83 99.18 49.30 66.47 15.04 504.03 75.97 0.75 2.27

Total (2) 1689.46 46.53 268.13 41.52 249.68 42.61 266.18 31.43 1187.45 67.54 0.73 1.16

Shipping

Shipping Corp(I) 4003.92 -0.59 813.90 -19.78 573.94 -25.91 0.00 - 0.00 - 0.26 0.24

Great Eastern Shipping Co. 3203.51 42.31 1356.73 54.54 1128.32 60.55 0.00 - 0.00 - 0.60 0.72

Essar Shipping Ports & Logs. 1063.93 1.85 241.67 80.38 241.67 80.38 0.00 - 0.00 - 0.56 0.48

Varun Shipping Co. 937.04 29.42 225.78 59.73 150.79 86.51 0.00 - 0.00 - 2.41 2.48

Mercator Lines 878.12 8.62 168.84 135.71 139.12 180.99 269.00 33.35 602.12 -22.60 1.08 2.38

Great Offshore 750.31 27.16 203.21 43.69 133.75 20.57 0.00 - 0.00 - 1.05 1.20

Total (6) 10836.83 14.73 3010.13 26.43 2367.59 27.79 269.00 33.35 602.12 -22.60 0.63 0.68

Solvent Extraction

Gokul Refoils & Solvent 2062.21 31.06 54.96 105.69 54.96 105.69 236.95 103.13 836.14 30.87 1.35 0.72

K S Oils 2057.95 91.98 120.70 110.57 114.72 112.41 78.75 364.88 137.02 958.07 0.44 0.61

Gujarat Ambuja Exports 1854.24 31.09 71.25 52.41 60.19 44.20 892.19 74.61 295.00 146.51 1.44 0.61

Sanwaria Agro Oils 943.09 110.70 43.32 254.50 40.47 312.96 0.00 - 0.00 - 1.54 0.91

Nahar Indl.Enterprises 898.60 -3.45 2.37 -96.51 -1.63 - 37.80 -13.64 41.87 -67.17 1.87 1.89

Amrit Banaspati Co. 762.90 22.73 1.39 -45.06 0.48 -68.00 0.00 - 280.89 211.13 1.66 1.14

Vimal Oil 637.85 29.48 5.59 64.90 4.72 66.20 25.52 44.84 85.34 65.61 2.85 2.37

Kriti Inds 502.90 44.13 7.50 186.26 6.76 238.00 113.06 24.02 19.01 515.21 3.19 1.95

Total (8) 9719.74 40.84 307.08 39.96 280.67 38.62 1384.27 73.66 1695.27 62.39 1.27 1.23

Steel - Large

SAIL 47937.80 16.38 7536.78 21.52 6008.53 22.08 1233.99 5.51 6912.61 -6.32 0.13 0.24

Tata Steel 22577.13 11.36 4687.03 11.01 3495.91 6.64 2288.61 8.78 2909.41 11.58 0.66 0.69

JSW Steel 12940.45 36.94 1728.19 33.76 1437.26 35.70 3298.66 -0.53 4707.17 38.77 0.98 0.75

Ispat Inds 9905.61 16.08 34.80 - 34.80 - 864.46 -40.53 606.09 -68.50 2.49 2.83

JSL 5807.07 8.06 241.17 -31.68 208.74 -35.85 1746.51 -22.96 2987.87 38.78 2.41 1.91

Jindal Saw 5638.62 37.13 701.11 297.91 667.01 361.98 3961.22 61.93 4169.94 64.92 0.58 1.35

Total (6) 104806.68 17.85 14929.08 22.01 11852.25 21.94 13393.45 4.99 22293.09 11.55 0.64 0.72

Steel - Medium / Small

Bhushan Steel 4724.70 11.63 423.73 35.26 413.11 36.50 1260.00 -17.46 1786.19 53.32 3.52 2.67

Welspun-Guj Stahl Rohren 4228.04 47.15 351.42 146.45 323.51 152.21 1728.44 58.87 3144.90 94.93 1.21 2.34

Uttam Galva Steels 3294.28 22.16 123.87 9.56 123.87 9.56 1510.26 9.43 1590.84 45.87 1.47 1.79

Lloyd Steel Inds 2534.63 27.78 -48.53 - -48.53 - 0.00 - 196.91 -27.51 - -

National Steel & Agro 2270.79 18.04 25.21 10.33 23.01 11.43 367.64 -41.69 274.90 -50.00 0.92 0.92

Mukand 2264.61 6.06 59.40 -36.36 52.09 -39.45 177.22 26.96 578.51 26.94 1.67 1.44

PSL 2261.76 40.63 84.77 36.37 63.49 37.51 550.64 887.70 871.45 65.99 1.10 1.99

Shree Precoated Steels 2088.35 14.85 245.52 16.75 232.51 17.86 891.97 -14.67 253.29 -52.81 1.06 1.76

Maharashtra Seamless 1684.08 8.58 195.23 -16.51 159.96 -18.65 487.95 131.31 256.70 5.43 0.09 0.12

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Jai Balaji Inds 1519.58 35.02 118.87 91.20 114.16 96.29 3.18 - 178.80 - 4.06 2.98

Surya Roshni 1495.05 14.68 20.41 37.81 16.51 51.33 196.65 54.27 50.11 -3.58 2.20 2.27

ISMT 1341.80 0.21 100.04 -23.12 85.49 -30.44 247.13 9.33 214.11 133.11 1.69 1.77

Kalyani Steels 1215.22 8.19 79.25 -11.83 61.79 -14.68 44.38 -8.65 371.04 41.18 0.44 0.18

Sunflag Iron & Steel Co. 1134.86 18.44 43.62 17.73 35.51 7.61 65.01 -24.45 78.94 126.32 1.00 0.87

Mahindra Ugine Steel Co. 1101.52 27.66 29.49 -34.32 19.75 -34.30 5.34 147.22 202.23 16.33 1.67 1.22

Shah Alloys 1032.94 -25.29 -118.88 - -118.88 - 163.60 -71.18 112.87 -61.14 4.88 1.60

Godawari Power & Ispat 958.18 87.08 94.98 81.92 83.75 87.11 1.45 -72.38 2.72 -80.82 0.74 1.35

Varun Inds 897.37 17.95 21.37 9.48 18.05 32.53 0.00 - 0.00 - 1.20 3.36

Ratnamani Metals & Tubes 891.95 44.82 90.03 40.28 83.73 40.30 97.59 35.28 278.62 35.64 0.67 1.31

Surana Inds 818.54 3.76 32.42 5.43 29.85 3.39 0.09 - 27.42 316.72 2.97 1.63

Sujana Metal Products 751.84 3.39 22.95 -18.70 22.95 -18.56 111.88 -51.84 56.46 -50.30 0.71 0.32

Visa Steel 724.88 23.88 43.15 110.28 32.15 56.68 75.91 -29.87 491.74 33.84 2.01 1.57

Sarda Energy 707.82 66.98 120.75 183.38 110.54 201.20 112.33 179.85 216.49 431.52 0.81 1.09

Steel Exchange(I) 655.08 29.77 15.24 88.85 13.18 115.71 0.00 - 0.00 - 1.26 2.09

Pennar Inds 641.80 11.19 30.81 38.10 30.81 38.10 19.19 161.80 82.10 442.63 0.64 1.66

Bhuwalka Steel Inds 589.66 6.12 3.59 74.27 2.55 244.59 4.95 438.04 0.28 460.00 3.66 3.45

Tulsyan NEC 572.30 32.14 13.74 124.88 12.74 137.69 41.95 -2.49 76.44 29.93 3.56 3.63

Panchmahal Steel 558.84 18.49 41.25 39.78 41.25 39.78 190.64 6.83 237.00 -0.22 2.02 5.29

Rathi Steel 537.67 34.45 8.59 20.99 7.37 25.34 2.34 4.00 3.93 -12.47 1.89 1.05

Total (29) 43498.14 19.92 2272.29 21.15 2046.27 21.04 8357.73 6.51 11634.99 37.95 1.76 1.81

Steel - Pig Iron

Tata Metaliks 1210.49 51.89 69.63 135.87 51.93 261.88 77.89 43.05 442.85 62.22 0.42 0.81

Kirloskar Ferrous Inds 862.12 39.12 49.03 10.28 38.75 -3.63 36.63 241.06 216.71 22.81 0.01 0.08

Total (2) 2072.61 46.31 118.66 60.39 90.68 66.20 114.52 75.67 659.56 46.75 0.17 0.33

Steel - Sponge Iron

Jindal Steel & Power 6808.86 55.66 1236.96 75.96 1174.94 81.44 653.01 10.15 1085.77 16.09 1.03 1.40

Monnet Ispat 1858.98 82.01 166.16 23.27 141.85 18.86 169.69 - 45.16 243.16 1.03 1.76

Total (2) 8667.84 60.64 1403.12 67.48 1316.79 71.70 822.70 36.51 1130.93 19.24 1.03 1.47

Sugar

Bajaj Hindusthan 1945.21 20.18 45.65 -76.08 37.17 -79.62 28.62 30.03 13.44 -49.28 2.02 1.10

Triveni Engg. & Inds 1722.10 -16.61 111.52 47.85 96.05 60.19 78.06 25.14 59.49 -27.54 1.49 1.44

Balrampur Chini 1495.22 12.31 -41.84 - -41.84 - 0.00 - 46.13 206.51 1.49 0.60

Shree Renuka Sugars 839.07 -6.28 54.43 -2.07 45.92 -9.64 346.40 12.80 11.40 -92.93 1.93 1.67

Sakthi Sugars 806.43 -10.90 30.11 -68.40 25.03 -70.40 118.84 -27.43 34.11 180.28 2.35 1.56

Bannari Amman Sugars 701.28 -14.73 42.34 -53.11 32.67 -60.03 105.45 0.22 17.70 225.37 0.77 0.38

Dhampur Sugar 665.89 -35.97 -60.67 - -60.97 - 15.08 -87.52 67.42 - 1.62 0.64

Total (7) 8175.20 -5.79 181.54 -77.43 134.03 -80.64 692.45 -11.61 249.69 -17.97 1.69 1.00

Tea

Tata Tea 1263.30 10.22 312.86 2.05 96.42 -54.90 212.34 18.08 43.18 25.52 0.42 0.52

Mcleod Russel(I) 703.56 9.78 47.21 -0.55 36.26 -1.04 138.10 -3.60 15.62 66.88 0.41 0.36

Total (2) 1966.86 10.06 360.07 1.70 132.68 -47.02 350.44 8.47 58.80 34.37 0.42 0.45

Telecommunications - Service Provider

Bharti Airtel 26063.42 45.26 6244.19 54.82 6244.19 54.82 1546.20 -1.86 6435.88 56.20 0.32 0.46

Reliance Communications 13426.65 42.69 2586.45 34.22 2431.65 31.78 1314.74 -2.62 9809.30 226.13 0.82 0.71

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



Idea Cellular 6919.03 56.77 1044.36 108.01 1044.36 108.01 79.03 8.56 1634.25 72.05 1.84 1.95

MTNL 5329.94 -4.53 406.82 -12.71 154.82 -27.66 0.00 - 0.00 - - -

Tata Communications 3465.33 -12.45 304.46 -35.02 176.21 -48.22 1035.27 -41.15 1097.33 -16.50 0.12 0.03

Tata Teleservices(Mah) 1790.88 25.52 -125.74 - -125.74 - 0.00 - 241.77 -51.26 - -

Tulip Telecom 1239.48 47.01 187.27 93.14 181.47 99.07 159.13 - 83.62 102.13 2.01 0.51

Total (7) 58234.73 33.64 10647.81 48.23 10106.96 50.50 4134.37 -13.11 19302.15 94.39 0.56 0.51

Textiles - Cotton/Blended

Vardhman Textiles 2379.23 8.93 122.54 -28.63 99.43 -33.08 461.68 4.74 501.08 4.50 2.04 1.58

Abhishek Inds 1250.03 23.41 39.95 -2.42 39.95 -2.42 519.28 19.31 240.80 181.31 2.93 2.48

Bombay Rayon 944.82 90.10 121.13 122.62 111.68 140.02 388.01 91.38 145.40 7.58 1.21 0.69

Spentex Inds 818.10 3.40 -34.53 - -34.53 - 455.29 23.93 43.73 -68.60 3.20 2.84

SIL Investments 797.99 9.99 3.03 -91.66 1.94 -93.82 175.95 35.67 37.77 -31.99 4.74 3.45

Total (5) 6190.17 18.80 252.12 -18.03 218.47 -19.58 2000.21 26.93 968.78 8.24 2.24 1.78

Textiles - Garments

Gokaldas Exports 1092.71 5.12 47.61 -32.26 44.17 -30.33 947.57 -4.94 250.16 -32.21 0.76 0.74

Koutons Retail(I) 797.69 97.12 69.49 101.48 69.49 101.48 0.38 - 5.58 -51.35 1.20 1.28

KPR Mill 615.20 23.29 79.35 35.83 60.51 8.21 141.80 9.20 189.37 - 1.27 1.25

Total (3) 2505.60 28.94 196.45 20.38 174.17 13.24 1089.75 -3.28 445.11 12.49 1.08 1.03

Textiles - Processing

SRF 1804.99 -8.69 138.73 -52.01 104.79 -57.80 578.06 -27.59 413.45 13.65 0.51 0.55

Century Enka 1325.01 19.48 13.41 -19.80 3.38 -27.93 0.30 900.00 129.17 45.33 0.94 0.93

Total (2) 3130.00 1.43 152.14 -50.25 108.17 -57.25 578.36 -27.56 542.62 19.87 0.65 0.68

Textiles - Products

Alok Inds 2412.63 22.55 198.66 20.62 176.20 25.85 969.00 59.33 482.61 42.01 4.37 3.26

Garden Silk 1837.24 20.77 40.00 71.97 34.26 95.55 27.37 93.43 36.94 -55.43 2.04 1.93

S.Kumars Nationwide 1615.45 30.34 178.13 44.21 178.13 44.21 14.69 -55.54 39.02 -29.26 1.28 2.04

Bombay Dyeing 1013.95 89.11 16.68 -53.58 3.16 -80.99 241.00 59.62 78.83 -43.51 3.58 2.61

Shri Lakshmi Cotsyn 854.10 40.52 46.58 28.25 45.84 37.08 0.00 - 0.00 - 2.91 2.78

Sangam(I) 701.90 26.25 5.37 -80.13 5.37 -75.52 178.38 4.89 28.15 -48.44 3.77 3.43

Siyaram Silk 597.42 12.17 9.51 -51.28 4.82 -67.50 38.71 73.90 17.87 -17.84 1.98 1.46

Nakoda Textile Inds 582.28 63.12 9.30 51.47 8.55 39.25 0.00 - 83.29 -46.06 1.53 1.19

Total (8) 9614.97 31.37 504.23 15.54 456.33 22.01 1469.15 47.11 766.71 -9.61 3.02 2.63

Textiles - Silk

Welspun(I) 1277.03 25.37 26.27 -49.58 26.27 -49.58 1013.11 19.07 284.02 -4.97 2.76 2.57

Nahar Spinning 927.55 0.62 12.02 -81.30 6.61 -88.04 575.47 -2.44 71.12 -19.97 1.57 1.16

T T 653.20 9.17 3.14 -42.39 1.85 60.87 0.00 - 525.78 3.32 2.79 2.11

Eskay KnIT(I) 652.19 35.90 20.68 42.92 20.68 42.92 0.00 - 0.00 - 1.26 0.92

KSL & Inds 648.33 25.35 44.81 21.73 40.81 23.89 0.00 - 0.00 - 1.43 1.02

Total (5) 4158.30 17.60 106.92 -38.24 96.22 -38.29 1588.58 10.26 880.92 -1.75 1.88 1.56

Textiles Spinning Blended

Indo Rama Synthetics(I) 2847.35 28.39 3.02 -85.37 -12.16 - 407.16 85.17 650.21 -12.84 1.73 1.43

RSWM 1209.49 11.91 0.27 - 0.27 - 552.52 11.45 84.34 -60.68 3.48 2.89

Total (2) 4056.84 22.99 3.29 -94.92 -11.89 - 959.68 34.10 734.55 -23.52 2.30 1.89

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore


Trading

MMTC 26736.32 13.79 200.48 58.11 155.48 52.73 3906.59 13.67 21054.15 13.34 3.11 1.28

STC(I) 15990.51 9.66 124.45 40.97 94.17 33.99 3561.63 31.81 11143.24 42.48 2.09 2.06

Adani Enterprises 11873.96 14.97 312.07 107.09 297.28 113.33 5950.76 64.30 4709.49 22.61 2.29 2.90

Bajaj Electricals 1414.02 26.12 73.13 89.41 59.30 87.84 2.63 839.29 70.97 57.08 1.35 2.03

Ushdev International 753.15 37.72 15.61 83.43 13.20 76.47 1.92 - 0.11 - 0.38 0.66

Emmsons International 584.14 55.40 10.08 57.75 9.05 57.67 401.40 87.42 64.94 - 1.47 3.56

Sakuma Exports 578.54 144.06 4.33 62.17 3.01 121.32 513.96 130.08 13.08 129.88 0.10 0.17

Competent Automobiles 546.64 16.02 4.57 18.70 3.96 22.22 0.00 - 0.08 166.67 0.43 0.52

Total (8) 58477.28 14.31 744.72 74.90 635.45 76.11 14338.89 40.60 37056.06 22.33 2.36 2.06

Transmisson Line Towers / Equipment

Power Grid Corp(I) 5073.14 27.99 1448.47 17.82 943.39 9.63 2.66 491.11 581.76 -12.64 1.65 1.81

KEC International 2854.54 37.41 172.16 64.53 147.49 68.21 1739.80 38.32 1052.88 28.63 1.20 1.42

Kalpataru Power 1786.56 13.15 149.95 -5.99 130.07 -6.84 379.22 18.06 186.61 -16.75 0.42 0.52

Jyoti Structures 1400.68 36.54 72.41 31.61 65.91 31.35 355.34 338.75 61.03 41.37 0.66 0.58

Voltamp Transformers 669.90 36.69 79.90 101.97 67.25 113.70 0.40 -78.26 11.73 -16.81 0.01 0.01

Total (5) 11784.82 28.99 1922.89 21.08 1354.11 15.79 2477.42 49.03 1894.01 7.26 1.53 1.69

Transport - Airlines/Travel Agencies

Jet Airways(I) 9562.56 28.40 -253.06 - -253.06 - 2596.68 39.38 12309.60 218.81 2.55 2.71

Kingfisher Airlines 2060.59 3.55 -250.85 - -250.85 - 66.57 -80.08 847.54 -5.65 4.70 2.38

Spicejet 1438.58 92.25 -132.39 - -132.39 - 174.69 71.13 425.75 75.33 - 2.34

Total (3) 13061.73 28.23 -636.30 38.62 -636.30 24.56 2837.94 23.43 13582.89 171.54 2.74 2.64

Tyres

MRF 5060.92 18.78 171.78 114.97 163.30 128.62 493.41 -2.12 891.64 78.04 0.78 0.80

Apollo Tyres 4256.20 12.68 219.30 93.35 194.10 109.75 94.02 125.47 776.85 -17.82 0.37 0.63

JK Tyre Inds. 3208.27 7.91 66.73 291.38 58.41 524.71 482.62 10.45 539.82 16.77 1.71 1.60

Ceat 2626.04 8.74 148.60 278.60 134.90 334.74 483.53 12.29 615.53 19.49 0.93 1.30

Goodyear(I) 989.55 6.23 40.23 -10.84 26.39 -21.43 60.49 4.31 96.44 -8.51 - 0.46

Total (5) 16140.98 12.42 646.64 119.39 577.10 142.54 1614.07 9.70 2920.28 15.47 0.77 0.96

Industry/Company

Debt Eq.Ratio2007

Debt Eq.Ratio2008

%Change

Forx. Expn.2008

Rs Crore%

Change

Forx. Earn.2008

Rs Crore%

Change

Ret. Profit2008

Rs Crore%

Change

Net Profit2008

Rs Crore%

Change

Total Income2008

Rs Crore



() )'0#/$! +$&&$-*#, $..*). .$"0#%1

=4 )%:)9-&:02 )") +!/ >9&'75<"0;( '4 61661 4- #4* 45 '4 $$$,.&5<59&<#083-0)),94"

Pradip Kumar Dey

CORPORATE profits witnessedmoderate growth in FY2007-08.India's GDP grew by 9% as com-

pared to 9.4% in the previous year. Themain drivers of growth were the manu-facturing services and constructionsectors. The overall manufacturingsector recorded a growth of 8.8% ascompared to 12.3% in the previous year.Overall economic buoyancy, togetherwith bullish domestic equity capitalmarkets, boosted investor sentiments,attracting robust capital inflows intothe economy.

Profits at every level - operating,gross, before tax and after, was higher

than the sales growth for the FE 500.Margins were healthy and increased in2007-08. The operating profits of the 500companies increased by 21.08 % (on anannualised basis) to Rs 3.68 lakh crorein 2007-08 from the level of Rs 3.04 lakhcrore in 2006-07. The gross profits of the500 companies sprinted by 20.14% in2007-08 when sales cantered at the rela-tively less speedy pace of 17.69%. Inabsolute terms, gross profits increasedfrom Rs 2.78 lakh crore in 2006-07 to Rs3.34 lakh crore in 2007-08. On the whole,the bigger companies garnered biggerprofits with a higher growth rate.

The operating profit of the first 100(according to composite ranks) compa-nies increased by 20.18%. The next two

groups of 100 registered profits at thegrowth of 27.10%, 26.56% respectively.The fourth group saw an increase of19.04%. And the last group of 100 sawthe lowest growth of 14.50%.

On the other hand, the gross profitsof the first 100 companies grew at19.50%. The next group of 100 saw prof-itsriseatthehigherpaceof 26.01%.Thethirdgroupof 100sawalowergrowthof25.25% in gross profit. And the fourthgroup showed an increase of 15.53% initsgrossprofit.Thelastgroupsawasin-gle digit growth of 8.77% in gross profitduring 2007-08.

The Top 10 (according to compositeranks) recorded a growth rate of17.72% in operating profit and 17.70%

Earnings grow fasterthan toplineProfits grew significantly higher than sales for FE 500 in 2007-08


fe500 profit&profitability500 profit&profitability


ingrossprofit -slowerthantheFE500asa whole. In terms of gross profit, theshare of the Top 10 in the aggregatedeclined from 40.17% in 2006-07 to39.36% in 2007-08.

The Top 10 in terms of gross profitswere ONGC, Reliance Inds, Indian Oil,SAIL, NTPC, Bharti Airtel, Tata Steel,Hindustan Zinc, TCS and InfosysTechnologies.

Within the group, six companies -namely NTPC, Bharti Airtel, SAIL,Tata Steel, Infosys Technologies andTCS have interchanged their positions.Four others had unchanged ranks from2006-07.Thehighestrateof riseingrossprofits was reported by DCM ShriramConsolidated (406.26%), DLF (399.17%),Nilkamal (327.58%), Eveready Inds (I)(322.11%), Sanwaria Agro Oils (257.48%), Jindal Saw (207.21%), Flaw-less Diamonds (206.33%) and IndiaGlycols (186.63%). Most of these fantas-tic numbers, however, represent statis-tical achievements rather than realgrowth because of the very low base ofprofits in the 2006-07.

The aggregate profits before tax(PBT) of the FE 500 rose even fasterthan operating profit. PBT grew by22.19% from Rs 2.21 lakh crore (on anannualised basis) in 2006-07 to Rs 2.71lakh crore in 2007-08. There were alsofewer loss makers during the year. Thenumber of companies reporting in thered at the PBT Level were 23 in 2007-08.

Significantratesof riseinPBTwere

registered by DCM Shriram Consoli-dated (894.27%), Nilkamal (861.56%),Eskay KniT(I) (467.64%), ITD Cementa-tion(I) (461.75%), JK Tyre Inds(456.01%), DLF (402.62%), India Glycols(313.53%), Sanwaria Agro Oils(275.54%), Punj Lloyd (265.05%) andJayaswal Neco Industries (250.17%).

The FE 500 performed significantlybetter in the bottomline number ofprofit after tax (PAT), with RelianceIndustries leading the way. But in oper-ating profit, gross profit and PBT,ONGC was way ahead of the others.

Reliance Inds earned Rs 19,458 crore inpost-tax profits in 2007-08.

The Top 10 (according to compositeranks) raised PAT by 21.54% from Rs62,555 crore (on an annualised basis) in2006-07 to Rs 76,031 crore in 2007-08. TheFE 500 as a group increased PAT by22.53%,fromRs1.65lakhcroretoRs2.02lakh crore during the same period. Inthe ultimate analysis, though, whatmatters is not the size of profits (a bigcompany should earn more profits any-way), but profitability. This can be mea-sured in many ways, with return onsales (PAT as percentage of net sales),return on assets (gross profits as per-centage of assets) and operating profitmargin (operating profit as a percent-age of net sales) being the main ratios.In 2007-08, profitability was clearly up,with as many as 37 companies report-ing over 30% return on assets. Mentionmay be made of Sesa Goa (71.56%),NMDC (69.92%) and Nestle (50.72%).

In terms of return on sales (PATto net sales), 22 companies against20 last year had ratios above 30%.Notable among them were NMDC(56.92%), Hindustan Zinc (55.80%) andDLF (46.53%).

In terms of OPM, 81 companiesreported over 30% during 2007-08.Mention may be made of NMDC(88.12%), Hindustan Zinc (80.07%) andSun Network (79.30%).

These can well be called the mostprofitable companies of 2007-08.

3M India

A P Paper

Aarti Inds

Aban Offshore

ABB

Abbot(I)

ABG Shipyard

Abhishek Inds

ACC

Adani Enterprises

Adhunik Metaliks

Aditya Birla Nuvo

Agro Tech Foods


AIA Engg

Alembic

Alfa Laval(I)

Alok Inds

Alps Inds

Alstom Projects(I)


Ambuja Cements

Amrit Banaspati Co.

Anik Inds

Ankur Drugs


Apar Inds

Apollo Hospitals

Apollo Tyres

Asahi India Glass

Ashapura Minechem

Ashok Leyland

Asian Hotels

Asian Paints

Asian Star Co.

Atlas Copco(I)

Atlas Cycles(H)

Atul

Aurobindo Pharma

Aventis Pharma

Bajaj Electricals

Bajaj Hindusthan

Balaji Distilleries

Balkrishna Inds

Ballarpur Inds

Balmer Lawrie & Co.

Balrampur Chini


BASF(I)

Bata(I)

Company


175

403

346

121

39

237

298

387

43

58

329

73

335

343

174

276

126

316

484

138

301

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371

315

334

105

195

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182

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50

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150

113

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67

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99

259

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309

119

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331

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295

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288

345

360

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40

52

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44

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131

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332

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307

148

287

356

359

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank

fe500 ranksinalphabeticalorder500 ranksinalphabeticalorder

Bayer CropScience

BEML

Berger Paints(I)

BGR Energy Systems

Bharat Bijlee

Bharat Electronics

Bharat Forge

Bharati Shipyard

Bharti Airtel

BHEL

Bhushan Steel

Bhuwalka Steel Inds

Binani Cement

Biocon

Birla Corporation

BL Kashyap & Sons

Blue Dart Express

Blue Star

Bombay Dyeing

Bombay Rayon

Bongaigaon Refinery

Bosch

BPCL

Britannia Inds

Cadila Healthcare


Castrol(I)

Ceat

Century Enka

Century Ply


CESC

Chambal Fertilisers

Chemplast Sanmar



Ciba(I)

Cipla


Classic Diamonds(I)

CMC



Compuage Infocom




Cosmo Films

Crompton Greaves

Cummins(I)

Company187

148

177

172

333

60

118

365

4

9

163

495

241

115

171

296

181

152

245

213

198

40

30

89

91

204

77

396

414

219

131

93

128

362

127

150

331

27

289

478

267

64

497

492

256

44

141

399

70

88

281

108

269

134

232

61

96

228

4

10

109

488

226

139

233

147

270

133

165

227

285

64

60

153

158

273

154

311

425

265

78

99

213

359

127

282

402

52

343

412

278

110

494

486

142

73

260

441

63

94

376

130

275

286

304

49

89

239

6

13

68

483

137

171

84

225

285

178

412

214

101

52

18

181

136

250

132

195

361

367

86

85

109

409

32

145

448

59

382

443

293

156

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87

65

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118

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Dabur(I)



DCM Shriram Inds.

DCW

Deccan Chronicle


Deepak Nitrite

Dhampur Sugar

Diamond Cables

Divis Laboratories

DLF


Dredging Corp

Eicher Motors

EID Parry(I)

EIH

Elder Pharma

Elecon Engg


Electrotherm(I)

Emami

Emco


Engineers(I)


Escorts

Eskay KnIT(I)

Essar Oil


Eveready Inds(I)

Excel Crop Care

Exide Inds

Fag Bearings(I)

FDC



Finolex Cables

Finolex Inds



Force Motors

Gabriel(I)

Gail(I)

Gammon(I)

Garden Silk

Garware Polyester

Gati

GHCL

Gillette(I)

Company


52

235

272

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186

264

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370

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65

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107

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125

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233

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345

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12

99

274

417

420

223

328

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Gitanjali Gems



Glenmark Pharma

GMDC

GNFC


Godfrey Phillips(I)


Godrej Inds

Gokaldas Exports


Goodyear(I)

Graphite(I)

Grasim Inds


Great Offshore

Greaves Cotton

GSFC

GTL




Gujarat Gas Co.


Gujarat NRE Coke

Gulf Oil Corp

Hatsun Agro Product

Havells(I)

HBL Power Systems

HCC

HCL Infosystems

HCL Technologies

HDIL

HEG

Heritage Foods(I)

Hero Honda Motors


Hind.Nat.Glass

Hindalco Inds

Hindustan Unilever

Hindustan Copper

Hindustan Motors



Hindustan Zinc


Hotel Leelaventure

HPCL

HT Media

Company279

104

41

85

156

191

384

189

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114

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262

375

281

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102

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113

261

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4

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92

89

46

115

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43

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15

29

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400

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423

25

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242

20

163

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Hyderabad Inds

ICI(I)

ICSA(I)

Idea Cellular

IG Petrochemicals

India Cements

India Glycols

Indian Hotels Co.

Indian Oil Corp


Indraprastha Gas

Ind-swift


Ingersoll-Rand(I)

Ipca Laboratories

ISMT

Ispat Inds

ITC

ITD Cementation(I)

ITI


J K Paper

Jagatjit Inds

Jagran Prakashan

Jai Balaji Inds



Jay Bharat Maruti




JBF Inds

Jet Airways(I)

Jindal Poly Films

Jindal Saw


JK Cement

JK Lakshmi Cement

JK Tyre Inds.

JMC Projects(I)

JSL

JSW Steel

Jubilant Organosys

JVL Agro Ind

Jyoti Structures

K S Oils

Kajaria Ceramics

Kalpataru Power

Kalyani Steels


Company


415

139

287

29

455

96

378

94

11

349

143

463

5

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162

7

424

273

146

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332

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312

107

45

464

458

408

317

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133

205

179

25

327

342

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240

79

123

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259

137

350

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180

466

209

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104

310

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18

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12

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114

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277

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409

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144

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24

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360

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92

349

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26

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57

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306

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190

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52

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55

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22

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71

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54

53

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251

105

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56

28

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142

480

161

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260

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53

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104

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1

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22

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75

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49

33

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317

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47

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77

42

195

261

181

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76

27

102

456

269

315

455

147

246

210

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


KEC International

KEI Inds

Kesoram Inds

Kingfisher Airlines

Kirloskar Brothers




KNR Construction

Kohinoor Foods

Koutons Retail(I)


KPR Mill

KRBL

Kriti Inds

KSL & Inds


Lanco Infratech

Larsen & Toubro



Lloyd Steel Inds

LT Foods

Lumax Inds

Lupin

Madhucon Projects


Madras Cements


Mahindra & Mahindra


Man Inds(I)

Manaksia

Mangalam Cement


Marico

Maruti Suzuki(I)

Mastek

Matrix Laboratories

Mcleod Russel(I)


Meghmani Organics

Mercator Lines

MindTree

Mirc Electronics

MMTC

Monnet Ispat

Moser Baer


Mphasis

Company206

446

254

185

217

383

377

227

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336

145

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413

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54

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366

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92

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164

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9

443

378

400

462

416

130

186

266

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177

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352

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282

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96

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329

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102

288

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91

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195

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239

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206

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185

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192

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160

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356

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330

370

260

323

490

270

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113

266

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162

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320

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318

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293

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140

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283

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277

191

80

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303

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133

231

284

169

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38

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279

387

25

315

120

100

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314

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234

351

136

196

66

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143

149

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134

202

217

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422

188

418

356

320

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266

258

488

261

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85

14

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222

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126

268

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115

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293

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237

193

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171

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148

81

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244

172

333

152

160

213

462

423

198

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269

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280

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122

16

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163

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129

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294

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196

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81

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106

319

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126

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116

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144

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173

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286

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465

432

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185

11

170

150

219

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119

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108

144

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125

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498

544

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255

535

422

128

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14

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438

140

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408

123

427

407

149

175

28

346

209

338

461

177

176

19

434

318

362

430

454

300

375

160

11

274

120

215

212

161

399

141

226

195

446

400

159

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412

283

444

361

312

499

266

173

94

11

469

425

327

463

475

84

315

362

121

172

33

419

284

329

455

293

239

22

402

208

241

456

387

218

299

344

43

151

98

212

145

184

382

135

170

161

424

395

138

495

416

379

454

354

308

498

297

150

146

10

445

401

304

462

460

108

267

339

128

158

33

405

275

344

457

285

248

23

398

190

228

437

388

192

322

318

53

198

83

218

159

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


MRF

MRPL

MTNL

Mukand

Mundra Port

Munjal Showa




Nahar Spinning

Nakoda Textile Inds

National Aluminium




Nectar Lifesciences

Nestle(I)


Nicco Corp

Nilkamal

Nirma

Nitco

NMDC

Novartis(I)

NTPC

OCL(I)

Omax Autos

Omaxe

ONGC





Panacea Biotec

Panchmahal Steel

Pantaloon Retail(I)

Paper Products


Patel Engineering


Pennar Inds

Petronet LNG

Pfizer


Pidilite Inds

Piramal Glass

Piramal Healthcare



Power Grid Corp(I)

Company


216

62

72

381

26

429

164

221

430

439

493

36

160

479

200

339

31

33

471

431

132

418

8

207

2

326

473

201

3

67

258

285

108

303

465

98

356

215

196

129

314

100

130

423

106

443

74

500

263

14

212

54

86

344

27

461

98

244

381

423

485

35

171

479

217

394

59

40

428

393

161

321

6

300

3

303

470

116

2

81

249

292

194

197

418

75

408

117

129

150

434

112

218

362

135

-

95

496

326

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121

31

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296

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33

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328

108

366

11

260

5

216

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97

1

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142

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80

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64

105

279

175

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119

489

327

23

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187

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406

149

210

216

213

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14

101

399

199

330

74

42

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97

376

17

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4

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208

1

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190

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63

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22

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26

106

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184

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288

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67

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124

2

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265

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476

84

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81

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91

212

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216

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111

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242

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28

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289

2

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102

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13

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88

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218

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112

360

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89

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105

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94

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93

207

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336

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317

6

63

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162

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491

149

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60

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8

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84

132

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41

60

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91

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411

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7

296

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5

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205

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287

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80

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189

231

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322

235

203

502

148

286

257

71

129

29

36

198

102

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86

116

310

314

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32

93

333

222

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142

38

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414

85

385

28

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3

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454

127

2

79

185

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325

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71

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72

255

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286

20

119

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34

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78

113

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26

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316

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136

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380

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185

2

80

197

306

342

231

481

73

431

101

162

120

467

70

278

334

201

428

107

466

266

22

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Praj Inds

Prakash Inds

Pratibha Inds

Precision Wires(I)

Pricol

Prism Cement


PSL

PTC(I)

Punj Lloyd

Punjab Tractors

Radico Khaitan

Rajesh Exports

Rallis(I)

Ramsarup Inds.



Rathi Steel


Raymond

Redington(I)


Reliance Inds


Rico Auto Inds.

Rolta(I)

RSWM


Ruchi Soya Inds

S.Kumars Nationwide

Sadbhav Engg

Sai Service Station

SAIL

Sakthi Sugars

Sakuma Exports


Samtel Color

Sangam(I)

Sanghi Inds

Sanwaria Agro Oils

Sarda Energy

Savita Chemicals

Sesa Goa


Shah Alloys

Shipping Corp(I)

Shree Cement


Shree Renuka Sugars

Shrenuj & Co.

Company178

266

406

477

442

257

440

319

134

97

244

212

229

269

417

47

122

490

360

248

192

15

1

34

411

144

450

341

277

274

280

428

16

405

498

474

486

469

271

292

355

354

59

426

488

82

125

294

110

394

159

167

351

460

429

264

365

225

242

62

252

298

162

363

406

58

120

484

306

201

180

7

1

21

385

141

404

355

205

178

256

481

11

433

493

453

483

458

245

356

262

377

67

435

480

100

131

148

191

399

233

173

435

449

408

135

352

237

299

107

310

393

192

246

301

62

144

472

245

244

317

14

2

44

368

113

387

411

150

182

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4

434

485

446

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405

218

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249

326

29

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496

51

63

160

324

413

276

169

459

443

331

117

296

254

303

202

261

390

286

317

344

73

120

473

273

132

356

19

2

44

332

126

258

435

166

201

405

466

5

281

490

447

494

342

155

468

343

346

54

387

351

34

66

130

327

409

329

172

418

451

417

223

295

237

99

71

209

387

186

349

311

70

96

455

396

107

236

6

1

21

373

115

351

432

138

179

366

484

7

306

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456

416

409

206

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297

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64

420

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36

208

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400

415

168

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394

246

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101

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61

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5

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97

298

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6

255

476

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371

76

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341

32

217

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385

248

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470

383

349

312

184

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75

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318

66

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195

51

98

438

407

135

267

5

1

20

364

161

235

362

70

166

394

493

10

215

499

474

295

297

194

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336

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119

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49

162

209

287

289

379

229

465

456

350

335

330

186

417

73

293

265

47

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325

48

98

458

391

117

231

5

1

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219

358

72

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7

209

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228

274

175

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403

392

157

366

261

43

181

182

324

276

386

226

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443

412

318

249

141

75

62

280

350

37

391

159

70

55

470

337

216

49

25

2

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381

332

241

282

31

175

321

315

6

364

445

250

351

388

335

289

415

307

84

483

304

78

136

146

347

274

360

251

549

378

358

313

312

167

69

106

245

385

40

354

182

57

72

503

387

185

51

30

2

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309

371

226

270

34

190

441

303

6

271

559

268

199

397

294

469

519

301

121

457

187

70

169

142

279

269

330

215

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479

438

285

335

209

109

69

262

323

108

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264

49

77

483

396

156

165

7

1

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169

328

376

106

179

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6

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439

413

418

245

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370

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74

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423

52

138

207

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349

335

188

476

458

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289

326

204

255

72

234

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114

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329

48

74

485

394

126

145

7

1

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357

168

286

365

94

153

397

461

5

293

500

432

325

393

213

464

411

376

86

442

324

55

151

165

288

347

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Shri Lakshmi Cotsyn

Siemens

SIL Investments


Sintex Inds

Siyaram Silk

SKF(I)

Sobha Developers



Spanco

Spentex Inds

SPIC

Spicejet

SRF

STC(I)

Steel Exchange(I)

Sterlite Inds(I)


Suashish Diamonds

Subhash Projects

Subros



Sun Network

Sun Pharma. Inds

Sundram Fasteners


Supreme Inds

Supreme Petrochem

Su-Raj Diamonds

Surana Inds

Surya Roshni

Suzlon Energy

Swaraj Mazda

T T



Tata Chemicals

Tata Communications

Tata Metaliks

Tata Motors

Tata Power Co.

Tata Steel

Tata Tea


TCS

Tech Mahindra

Texmaco

Thermax

Company


476

57

468

226

120

467

214

233

379

369

460

481

421

305

284

236

483

21

283

308

364

425

470

459

61

20

313

376

321

410

419

420

452

56

368

494

278

436

83

35

358

51

23

32

81

75

12

95

249

117

449

29

465

156

105

469

224

107

367

369

375

445

419

240

331

188

451

17

275

376

250

413

450

447

57

39

320

383

341

420

426

397

452

20

414

491

332

457

87

55

382

32

30

19

113

89

13

46

259

85

362

60

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247

143

455

168

157

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334

386

490

499

495

162

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50

231

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76

53

276

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370

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410

42

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185

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21

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7

122

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9

61

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110

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76

319

305

179

434

198

173

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340

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429

498

496

80

256

474

51

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366

364

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79

61

240

314

277

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400

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411

40

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472

193

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56

47

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20

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6

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10

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124

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94

440

195

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492

161

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12

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213

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481

219

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51

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30

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20

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34

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216

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289

90

216

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35

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360

211

71

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310

298

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183

356

340

50

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479

187

286

65

42

418

14

26

10

110

106

32

188

410

174

336

40

349

107

169

430

180

201

389

266

449

355

275

220

174

21

420

26

166

296

240

396

361

305

329

119

230

273

215

193

134

346

210

41

394

408

278

354

69

92

261

10

48

14

246

164

16

82

342

94

364

52

330

141

210

416

179

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228

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319

110

352

134

20

452

25

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250

297

351

326

261

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143

196

290

201

161

151

305

198

45

368

373

264

288

58

67

339

9

50

13

219

170

18

87

475

117

406

61

417

146

100

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237

155

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318

424

428

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187

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18

217

260

308

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426

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158

56

273

355

307

378

233

395

388

34

442

486

243

386

57

42

382

23

27

8

111

197

16

95

358

131

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58

392

179

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459

229

129

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303

399

373

241

300

172

111

484

21

221

263

333

429

385

358

152

67

247

337

301

352

230

384

360

32

446

475

235

330

59

39

410

16

28

8

109

205

17

98

409

121

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Thirumalai Chem.

TIL

Time Techno

Titagarh Wagons

Titan Inds

Torrent Pharma

Torrent Power

Transport Corp(I)

Trend Electronics

Trent


Tube Investments(I)

Tulip Telecom

Tulsyan NEC

TVS Motor Co.

Uflex

Ultratech Cement


Unitech

United Spirits

United Breweries

United Phosphorus

Unity Infraprojects

Universal Cables

Usha Martin


Uttam Galva Steels

Value Inds

Vardhman Textiles

Varun Inds

Varun Shipping Co.

Venkys(I)

Videocon Inds

Vimal Oil

VIP Inds

Visa Steel

Vishal Retail


Voltas

Walchandnagar Inds

Welspun(I)


West Coast Paper

Wheels(I)

Whirlpool(I)

Wipro

Wockhardt


Zuari Inds

Zylog System

Company454

416

270

265

78

170

86

330

496

239

149

243

165

489

288

293

68

251

66

63

124

76

389

437

242

462

290

475

304

453

218

445

111

499

404

361

392

299

147

310

401

155

344

390

300

17

168

69

286

395

437

361

238

-

115

283

83

324

489

295

163

288

175

490

307

304

69

358

15

47

91

90

294

431

190

444

373

473

342

432

291

464

71

495

396

372

235

255

93

234

374

82

386

427

380

16

140

66

317

371

402

399

343

340

196

206

95

396

469

423

204

278

188

459

290

262

38

318

45

93

258

242

332

440

170

468

215

309

140

439

114

418

43

481

447

353

346

288

152

400

284

83

307

379

390

17

158

103

280

321

410

433

381

415

228

212

95

375

471

412

219

152

263

475

205

241

35

267

37

62

253

135

374

427

170

481

204

341

113

444

123

458

41

486

449

424

401

370

154

460

226

142

299

368

456

18

125

146

85

365

460

466

312

394

282

232

62

377

474

227

187

196

279

488

183

220

65

285

73

77

225

87

325

433

177

486

197

280

125

313

170

452

35

494

457

332

371

436

246

397

239

98

299

425

391

18

150

74

181

294

445

465

369

459

287

227

50

381

469

259

165

173

318

487

149

221

73

271

95

85

200

99

299

408

161

484

202

254

103

457

160

439

33

494

448

291

434

458

264

376

204

179

354

407

373

18

123

69

152

363

442

467

409

426

221

271

60

423

441

352

146

255

246

478

168

154

64

408

28

93

251

87

307

451

128

490

118

228

92

330

114

481

38

495

468

224

322

485

178

420

155

76

309

374

305

21

163

129

165

431

421

453

431

476

238

263

56

408

422

372

133

247

401

475

132

139

66

381

38

85

226

75

348

452

135

498

112

224

96

409

113

473

28

493

463

254

426

489

199

400

134

91

378

368

285

22

140

114

136

466

429

383

497

457

103

281

81

231

325

482

177

158

228

466

93

222

52

440

108

97

209

190

333

484

172

359

96

221

124

331

295

469

36

411

462

390

265

456

100

414

238

74

436

247

154

19

227

258

113

422

402

390

528

552

115

272

86

213

307

470

126

145

283

476

61

193

47

405

97

88

220

178

401

511

173

400

95

208

114

321

342

492

38

439

481

413

365

494

100

526

248

96

394

233

163

21

207

275

101

496

467

460

392

410

152

231

64

353

462

336

144

199

216

495

162

210

55

363

62

75

189

88

348

472

160

471

153

302

140

379

180

481

46

490

470

337

347

445

149

408

253

80

365

380

287

15

157

112

166

409

453

441

415

494

167

252

60

338

444

362

127

202

296

491

137

203

57

369

56

65

164

93

346

472

141

477

180

290

139

426

212

483

35

490

470

341

378

450

140

403

232

96

396

375

302

14

133

112

155

449

2008 2007

Market CapRank

2008 2007

Gross ProfitRank

2008 2007

Net WorthRank

2008 2007

Total AssetsRank

2008 2007

Net SalesRank

2008 2007

CompositeRank


Indian Oil Corp

Reliance Inds

BPCL

HPCL

ONGC

SAIL

MMTC

MRPL

NTPC


Bharti Airtel

Larsen & Toubro

Tata Motors

Tata Steel

Gail(I)

TCS

BHEL

Wipro


Hindalco Inds

Maruti Suzuki(I)

Hindustan Unilever

ITC

JSW Steel


Sterlite Inds(I)

HCL Infosystems

Jet Airways(I)

Mahindra & Mahindra

Hero Honda Motors

Adani Enterprises


Ruchi Soya Inds

Grasim Inds

Rajesh Exports


Videocon Inds

Ispat Inds

Idea Cellular


Siemens


Petronet LNG

Tata Power Co.

NMDC

ACC

Bongaigaon Refinery

ABB

PTC(I)

Suzlon Energy

Company(Rs Crore)


-

9.95

-

-

27.85

14.56

0.39

1.84

19.70

-

22.68

10.70

2.18

21.00

12.27

21.38

11.32

13.75

28.31

13.58

6.83

13.63

21.17

3.82

11.62

11.02

2.06

-

4.33

9.86

2.18

5.97

1.05

15.82

1.03

10.83

6.71

-

9.95

2.67

12.26

19.98

5.44

9.60

59.55

15.38

-

7.98

1.41

-

4.56

16.03

1.73

1.02

31.83

19.30

0.70

4.51

23.08

3.98

24.34

7.36

7.46

23.34

14.37

25.02

14.37

18.35

28.53

12.62

10.90

14.35

23.71

17.49

20.83

6.94

2.56

-

10.59

8.87

2.66

7.33

1.59

20.61

2.57

16.55

10.86

-

15.57

2.86

9.68

21.78

7.38

13.16

58.53

20.24

6.30

8.77

0.88

18.73

-

74.50

-

-

65.08

11.35

25.09

3.34

7.38

-

29.86

212.11

7.97

51.21

17.14

366.74

36.58

72.81

148.44

115.35

67.53

78.93

65.06

21.88

11.76

72.33

55.79

-

15.35

220.23

76.93

181.86

23.37

137.77

31.12

34.80

21.41

-

2.27

3.12

107.55

761.13

4.19

24.98

84.53

45.52

-

101.40

3.31

-

61.87

104.40

37.31

22.16

65.81

12.49

23.47

5.98

7.37

52.28

23.46

206.48

38.68

44.54

22.22

347.43

35.72

76.51

116.45

145.74

99.21

68.45

63.27

77.28

20.11

45.53

70.50

-

36.01

167.59

82.80

60.35

32.80

170.71

213.30

32.69

32.37

-

2.47

1.94

168.94

549.76

4.73

25.52

169.04

57.22

13.21

95.57

1.97

26.16

7376.85

15180.00

1348.77

750.37

14075.02

5160.02

117.36

1047.34

6075.30

779.03

4451.91

1206.66

1491.10

3256.86

1879.08

3399.95

1748.47

2235.80

3333.00

1788.40

1433.14

1511.38

2384.46

1267.41

2075.02

645.18

240.90

-328.40

884.87

669.34

204.10

154.31

119.65

1565.23

157.63

773.24

742.83

-14.09

650.57

106.83

569.68

846.63

354.62

563.35

2234.01

1074.84

263.93

405.04

29.50

783.16

-

-22.71

-

-

-1.10

-9.15

6.89

-44.15

0.21

-

27.34

105.79

-72.51

14.91

15.68

5.56

2.42

-4.66

27.51

9.68

-31.93

13.84

2.94

-67.71

-41.54

58.85

-20.68

-

-56.23

31.41

-7.05

229.76

-26.24

-19.29

-50.52

2.52

-33.90

-

8.20

61.20

27.30

39.08

-11.43

-1.83

50.01

-20.43

-

6.09

155.22

-

-80.43

102.33

-21.81

-58.82

27.45

48.02

24.36

-25.63

-14.88

-46.01

-46.80

98.09

63.96

-71.48

16.30

-

-19.90

45.72

-57.12

55.41

18.69

13.62

-22.25

-62.18

655.97

54.64

-

59.96

-15.57

16.15

-68.92

808.60

106.21

8.61

-

-13.47

-86.96

12.30

68.50

87.25

7.02

34.90

58.53

-1.88

32.79

-41.14

-55.69

-46.35

226.28

19.38

-3673.41

11733.00

-2892.13

-4529.07

13919.55

4688.13

125.45

584.91

6087.95

-669.28

5668.86

2483.14

409.84

3742.45

2173.68

3588.94

1790.74

2131.50

4250.00

1961.51

975.54

1720.53

2454.60

409.30

1213.16

1024.87

191.09

-455.33

387.28

879.59

189.71

508.85

88.25

1263.25

77.99

792.70

491.03

-649.72

703.93

172.21

725.20

1177.47

314.10

553.02

3351.19

855.23

-214.53

429.72

75.29

-285.91

51.85

24.54

39.49

36.16

13.04

20.39

89.71

36.84

17.44

38.80

36.67

41.59

-6.08

27.67

35.54

23.52

30.07

27.25

28.47

1.97

8.61

19.83

15.30

47.99

4.79

0.05

-1.26

48.92

7.13

18.25

13.13

304.57

11.57

5.12

22.72

56.67

6.89

18.44

69.26

72.70

0.48

51.56

20.22

34.58

47.45

4.72

30.68

16.58

59.28

24.58

15779.70

514.00

1117.60

880.31

2911.95

925.53

13.34

202.41

2212.80

88.98

202.77

335.67

515.01

908.41

456.69

367.48

972.07

265.30

597.00

348.70

582.38

470.50

447.22

295.79

8.88

364.57

50.36

703.18

295.70

130.37

27.86

26.15

9.66

193.98

0.00

966.03

142.28

98.50

6.54

45.58

222.17

24.30

35.69

288.17

495.79

289.67

61.79

55.88

23.55

83.18

3087.83

1040.00

873.89

362.48

3711.32

1369.99

16.59

150.53

1883.62

48.04

107.88

664.92

844.40

259.08

531.15

-212.56

778.66

386.60

256.00

541.92

691.20

534.60

347.70

111.87

67.13

563.77

-9.14

1124.80

249.65

151.42

8.66

237.60

19.92

210.69

0.00

835.91

18.56

110.62

11.02

85.35

237.77

32.78

56.58

282.74

658.35

170.50

27.38

29.98

76.84

99.30

161608.46

94689.00

77968.20

73233.15

44222.75

26736.26

16883.88

23243.86

26317.40

19563.44

18289.78

16387.83

19981.30

13956.59

13072.91

13591.23

12163.42

12186.10

11684.00

14169.30

13152.32

10533.43

10056.60

7248.17

9960.84

9292.45

9398.44

6051.20

8355.33

7543.16

7676.38

2105.47

7519.19

7593.95

6141.68

4671.23

6842.27

6005.13

4179.30

3736.56

5884.89

3887.78

4802.66

4281.44

3816.80

5310.46

4189.92

4617.88

3359.55

4181.61

245399.96

117929.00

108757.17

99715.18

49988.25

32188.66

32030.45

31806.19

30907.63

27153.93

24997.49

23203.37

18765.91

17817.84

17719.34

16787.44

15820.71

15506.60

15011.00

14447.89

14284.32

12622.21

11595.68

10726.23

10437.84

9297.35

9279.97

9011.33

8950.66

8919.62

8684.53

8518.12

8389.52

7982.91

7536.83

7318.59

7313.59

7112.49

7073.82

6453.10

5913.16

5892.50

5773.81

5761.88

5627.97

5560.86

5475.32

5383.68

5351.20

5209.35

ROS (%)Apr-Dec

2009

ROS (%)Apr-Dec

2008

EPS (Rs)Apr-Dec

2009

EPS (Rs)Apr-Dec

2008%

ChangeApr-Dec

2008Apr-Dec

2009

PAT%

ChangeApr-Dec

2008Apr-Dec

2009

Other Inc.%

ChangeApr-Dec

2008Apr-Dec

2009

Sales

fe500 ninemonthsperformanceoftop100500 ninemonthsperformanceoftop100

GSFC

Punj Lloyd

Ashok Leyland

Ambuja Cements

Ultratech Cement

Hindustan Zinc

Pantaloon Retail(I)

Power Grid Corp(I)



National Aluminium

Bhushan Steel

Cipla

Tata Chemicals

Chambal Fertilisers


Aditya Birla Nuvo

HCL Technologies

JSL

Sesa Goa

MTNL


Shipping Corp(I)

Tech Mahindra

Torrent Power


Crompton Greaves

Asian Paints



United Spirits

Apollo Tyres

Tata Communications

India Cements

DLF

Sun Pharma. Inds


Exide Inds



GNFC

HCC

CESC


Cummins(I)

Lanco Infratech

Lupin

Nirma

Aurobindo Pharma

Jubilant Organosys

Company(Rs Crore)

7.61

3.07

5.62

18.63

18.48

55.56

2.39

35.72

3.30

8.99

33.94

9.24

16.78

12.36

8.70

14.88

5.98

29.07

4.78

36.15

8.46

16.67

20.70

21.01

6.02

5.81

7.76

11.40

13.30

4.93

10.63

5.94

5.84

24.23

49.79

38.97

11.46

9.13

32.89

22.73

12.57

3.53

12.62

47.24

12.35

9.87

19.06

7.94

13.40

23.24

50.31

43.08

10.27

35.34

53.62

51.50

29.18

2.55

2.69

19.49

18.46

69.79

33.12

2.83

3.52

20.95

11.69

47.65

-

180.58

4.21

-

17.47

62.86

5.57

55.10

36.31

28.13

48.06

25.27

24.12

12.29

7.44

11.98

44.58

81.17

12.27

27.02

4.16

48.61

13.38

28.86

25.08

74.51

79.67

6.62

39.66

4.20

15.66

-

26.34

15.12

21.84

26.13

58.19

73.71

26.54

2.68

2.06

29.03

18.87

65.02

33.52

16.67

4.44

17.09

17.66

69.33

59.48

176.28

4.81

27.20

20.02

45.25

3.40

51.70

28.76

30.27

37.22

23.89

25.76

33.61

6.14

18.91

57.24

73.95

30.17

25.00

4.27

85.26

20.60

27.96

21.27

57.16

51.79

4.10

44.69

16.79

79.88

227.72

209.89

91.73

290.59

795.49

724.35

3118.00

80.01

1126.72

101.04

249.20

1215.83

276.12

521.03

389.19

184.71

400.00

164.78

922.35

175.41

693.84

303.32

507.71

565.21

549.20

160.79

137.27

210.85

290.36

312.98

109.32

255.94

160.04

175.10

533.10

1951.73

765.76

280.68

187.51

716.89

554.11

320.13

71.66

268.00

870.42

205.09

90.18

366.74

133.59

214.71

335.20

91.02

185.08

-52.96

35.27

-7.84

-30.21

27.80

-4.64

30.76

-27.06

-2.19

7.34

-1.17

-82.87

-20.59

23.98

-32.60

-30.80

-

104.87

-12.52

-

30.91

39.34

63.72

7.17

26.26

-7.07

29.31

5.79

-5.60

-61.30

21.03

-36.54

-22.22

9.77

-59.32

15.30

-2.57

14.02

-35.03

3.24

17.91

30.37

53.83

61.33

-10.40

-75.00

-80.40

-

-18.64

-42.52

-17.87

-90.57

2.61

19.30

31.73

17.81

62.51

194.23

-12.81

-84.87

53.82

-37.69

-17.47

12.03

-39.16

-47.02

-23.77

178.35

61.12

-46.49

63.15

-

32.04

524.48

-41.94

-1.54

-63.24

46.99

-42.54

-77.13

-3.96

46.32

99.31

-80.82

81.40

245.45

8.89

31.77

14.56

-8.42

19.44

-14.51

40.08

-43.04

-80.70

-90.52

-38.87

-90.73

400.94

261.50

136.68

1076.07

667.56

2176.14

102.25

1074.47

132.12

181.76

1189.25

296.39

514.91

66.66

146.67

495.90

111.06

638.26

-418.60

1421.49

265.33

-1135.75

739.91

765.25

263.25

147.11

266.21

269.82

404.73

115.65

241.61

61.93

211.93

338.32

1518.06

840.60

114.19

216.19

698.47

631.81

207.98

73.98

316.00

1134.77

315.50

145.49

328.60

33.40

42.09

-31.04

81.95

65.69

-8.05

8.68

15.37

-19.76

31.87

37.77

36.36

45.80

12.20

28.45

23.24

20.52

77.92

35.85

31.06

13.08

-4.41

80.20

-3.49

10.39

23.07

27.97

24.48

37.68

19.62

24.43

30.17

37.61

23.17

9.97

-5.31

28.31

-29.13

37.00

9.64

26.37

18.78

5.50

-6.09

15.13

7.87

23.09

36.38

142.98

15.00

31.09

21.62

30.52

71.94

46.02

62.39

775.35

72.93

525.00

2.08

257.32

33.66

5.20

433.34

50.56

84.56

73.46

87.31

240.00

20.20

396.94

25.79

53.63

368.31

344.91

155.16

63.50

76.04

3.39

45.57

51.78

183.28

1.83

26.61

9.62

140.30

18.61

382.39

517.23

49.74

1.43

444.19

109.17

34.61

47.89

108.00

577.40

76.32

21.12

171.75

96.46

109.20

137.80

58.53

26.45

51.24

73.10

74.83

626.35

2.74

303.14

54.70

15.30

377.82

7.65

130.07

45.77

72.06

268.87

12.29

210.28

19.66

149.28

593.42

184.55

253.14

-49.05

100.40

21.17

26.46

50.98

67.37

2.69

15.29

2.20

134.75

27.23

762.14

99.23

90.23

4.94

483.68

143.85

39.65

43.86

129.00

493.61

106.91

12.03

33.14

9.14

66.75

12.77

2759.78

2989.17

5167.11

4270.64

3920.55

5612.00

3350.57

3154.49

3065.28

2770.70

3582.69

2988.88

3104.71

3148.08

2123.07

2689.00

2756.14

3173.19

3673.06

1919.56

3583.96

3046.07

2729.85

2614.00

2671.36

2364.00

2716.23

2547.65

2353.65

2218.87

2407.27

2692.59

2996.61

2200.26

3919.57

1965.19

2450.08

2053.59

2179.91

2437.93

2546.47

2027.74

2123.00

1842.73

1660.78

913.56

1924.12

1683.21

1602.33

1442.40

5021.45

4952.78

4751.11

4641.51

4522.95

4503.32

4418.27

4346.06

4179.86

4039.77

4019.60

3839.08

3826.11

3794.01

3777.41

3653.00

3612.18

3588.40

3510.95

3459.02

3458.83

3362.46

3359.69

3345.14

3325.18

3254.65

3249.23

3169.98

3063.86

3053.36

2964.99

2960.99

2837.35

2823.18

2777.97

2692.28

2686.29

2595.07

2589.24

2572.12

2391.48

2334.48

2290.00

2268.25

2264.93

2219.80

2212.75

2206.51

1948.69

1882.66

ROS (%)Apr-Dec

2009

ROS (%)Apr-Dec

2008

EPS (Rs)Apr-Dec

2009

EPS (Rs)Apr-Dec

2008%

ChangeApr-Dec

2008Apr-Dec

2009

PAT%

ChangeApr-Dec

2008Apr-Dec

2009

Other Inc.%

ChangeApr-Dec

2008Apr-Dec

2009

Sales


7.98

5.28

2.88

23.18

14.76

48.32

2.31

24.72

3.16

4.50

29.59

7.72

13.46

1.76

3.88

13.58

3.07

17.79

-

41.10

7.67

-

22.02

22.88

7.92

4.52

8.19

8.51

13.21

3.79

8.15

2.09

7.47

11.98

54.65

31.22

4.25

8.33

26.98

24.56

8.70

3.17

13.80

50.03

13.93

6.55

14.85

1.51

2.16

-

Pradip Kumar Dey

THE FE 500 list has been compiledfrom largely published balance-sheets of companies, which

closed their last financial year betweenApril 1, 2007 and March 31, 2008. And forsome companies, June 2008 figureshave been considered. It includes allprivate and public sector companies(excluding non-banking finance com-panies and banks) that are listed on the markets and whose balance-sheets were available by end-December2008.

In the tables that follow, any refer-ence to 2008 (current) refers to thefinancial year 2007-08 and the sameholds for 2007 (previous). Where com-panies had financial years that wereless than 12 months or more than 12, theresults have been annualised to arriveat a comparable figure.

For the purposes of our study, theranking has been done on the basis ofNet Sales, which is sales or mainincome minus excise duty. Salesinclude service charges and leaseincome.

Assets relate to fixed assets (land,buildings, machinery, etc) plus capitalwork-in-progress, cash and bank bal-ances, loans and other debtor balances,investments and other intangibleassets, excluding accumulated lossesand advance tax provisions.

Operating Profit is arrived at bycalculating gross profit plus interest.

Gross Profit is arrived at by calcu-lating profit before tax (PBT) plusdepreciation. Deduct taxes (includingdeferred taxes) from the PBT figure andyou get the profit after tax (PAT). PATminus dividends gives us RetainedProfit.

Market Capitalisation is the mar-

ket value of a company's outstandingshares based on closing market pricesas on January 30, 2009.

Net Worth is the paid-up capital(equity and preference) plus totalreserves and surplus excluding accu-mulated losses.

Earnings Per Share (EPS) refer toPAT divided by the number of out-standing equity shares.

Debt includes all long-term loans,including debentures, plus instalmentcredit. Thus the Debt-Equity Ratiorefers to debt divided by net worth.

Return on Sales is PAT as a per-centage of net sales, while the ReturnOn Assets is gross profit as a percent-age of assets.

The Return On Net Worth(RONW) represents PAT as a percent-age of net worth.

OPM represents operating profit asa percentage of net sales.

How we did it


500 methodology500 methodology

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5 While the overall sales rankings havebeen made on the basis of the availableuniverse of private and public sector quotedcompanies, the other rankings (assets, networth, gross profit, market capitalisation,composite, etc) are restricted to the FE 500.

5 Every attempt has been made to make allfigures comparable and compatible withour definitions. All the related data aretaken from the respective balance sheetsonly. Standalone balance sheets & profit ofloss accounts figures are considered.

5 Seventeen companies changed theiraccounting period during 2007-08. They areBalrampur Chini, Clariant Chemicals (I),Diamond Cables, Federal-Mogul Goetze (I),GTL, Garware Polyester, GHCL, Gillette (I),J K Paper, Jindal Saw, Kingfisher Airlines,Madras Aluminium Co, Mangalam Cement,Pennar Industries, Reliance Communica-tions, Suashish Diamonds and TorrentPower.

5 Wherever accounting periods have beenless or more than 12 months, sales,operating profit, gross profits, PBT, PAT, andretained profit figures have beenannualised. The only exception from thisgeneral rule is net worth and assets.

5 Some big companies could not beincluded in the study because balancesheets and profit and loss accounts were notavailable for two years. These companiesare Automotive Axles, Areva T & D (I),Avaya Global, Bajaj Auto and KM Sugar.

5 Some companies changed their namesduring the year. These are, with the newnames in brackets: Reliance Energy(Reliance Infrastructure), VSNL (TataCommunications) , LT Overseas ( LT Foods),Spanco Telesys & Solutions (Spanco), EraConstruction (Era Infra Engg.), Tulip ITServices (Tulip Telecom), Deccan Aviation(Kingfisher Airline), Nicholas Piramal (I)(Piramal Healthcare), Essar Shipping (EssarShipping Ports & Logistics) , JhunjhunwalaVanaspati (JVL Agro Industries) andVideocon Appliances (Value Industries).

5 Industry-wise groupings have been doneon the basis of the standard industrialclassification of all economic activitiesadopted by the Government of India. Acompany with more than one activity isclassified within that industry from whichit derives more than a half of its sales ormain income.

5 Mergers and acquisitions have alsobecome major factors in corporate growthduring 2007-08. Some companiesamalgamated with others during the year.These are, with names in brackets: JBFIndustries (Microsynth Fabrics (I)),

Pratibha Industries (Pratibha Pipes &Structural), Siemens ( Siemens IndustrialTurbomachinery Services), Kingfisher(Deccan Aviation),Tech Mahindra ( TechMahindra (R&D) Services), Piramal HealthCare ( NPIL Healthcare & Nicholas PiramalConsumer Products), Supreme Petro ( SplPolymers), KEC International ( RPGTransmission,NIT and MP Power Line),Coromandal Fertilisers ( GodavariFertilisers&Chemicals), Mphasis ( EDSElectronic Data Systems(I)), GSFC (GSFCInvestment&Leasing Co), Bannari AmmanSugar (Maheswara Sugars), Aditya BirlaNuvo (Aditya Birla Insulators), HCLInfosystems (Stelmac Engg), Nilkamal(Nilkamal Crates & Bins & StackwellMarketing Services), Hind Unilever(Modern Food Inds), Texmaco (NeoraHydro, Shree Export House & EvershineMerchants Pvt Ltd), Coromandal Fertilisers(Godavari Fertilisers & Chemicals), ValueIndustries (Videocon Appliancesamalgamated with Ranjangaon Inds) andWipro (Wipro Infrastructure Engg, WiproHealthcare IT, Quantech Global Services,MPACT Technology Services Pvt Ltd, MPower Software Services(I) and C MangoIndia Pvt).

5 Some companies could not be includeddue to lower sales during 2007-08 but were inthe list of FE-500 during 2006-07. These areArvind Products, Andhra Sugar, Blue Bird,BOC, Ennore Foundries, Futura Polyesters,Flat Products, Forbes Gokak, GujaratSidhee Cement, Gayatri Projects, HimachalFuturistic Communications, IndianAcrylics, JCT, Kanoria Chemicals & Inds,KSB Pumps,Lakshmi Overseas Inds,Mysore Paper, Malwa Cotton Spg, MawanaSugar, NIIT, NRC, Oudh Sugar, Ruchi Strips& Alloys, Rajshree Sugars & Chem.,Sudarshan Chem. Inds, Shasun Chem. &Drugs, Sree Rayalaseema Alkali,Saurashtra Cement, Strides Arcolab, SicalLogistics, Sundaram Clayton, TVSSrichakra, Tinplate Co, Ugar Sugar Works,Upper Ganges Sugar and Zenith Birla (I).

5 Some companies abridged balancesheets have been considered. These areDCM Shriram Inds, Essar Shipping Ports&Logistics, Gati, Gujarat NRE Coke, GNFC, JK Cement, Polaris Software Lab., PunjLloyd, Reliance Infrastructure, RelianceCommunication, Redington, Rolta,Wiproand Zylog System.

5 Market capitalisation figures arecalculated on the basis of Bombay StockExchange (BSE) quotations and for somecompanies National Stock Exchange (NSE)quotations have been considered. Some

companies have been delisted from the stockexchanges or not quoted during the last oneyear, so we have not considered thosecompanies for our study.

5 Companies, which have been delisted ornot quoted for long are Bosch Chassis Sys(I), Cadbury (I), Essar Steel, iGate GlobalSolutions, Liberty Oil, Modern Syntex, OtisElevators, Philips Electronics, RainCalcining, Sandvik Asia, Southern Iron &Steel Co, Syngenta Inds and UshaInternational.

5 Some companies changed their facevalue during the year. These are, with thenew face value in brackets: AhluwaliaContracts(I) (Rs 2), Amar Raja Batteries (Rs2), Apollo Tyres (Rs 1), Ballarpur Inds (Rs 2),BL Kashyap & Sons (Rs 5), Blue Star (Rs 2),Classic Diamonds(I) (Rs 2), DivisLaboratories (Rs 2), Electrosteel Castings(Rs 1), Emco (Rs 2), GMDC (Rs 2), GreavesCotton (Rs 1), Gujarat Fluorochemicals (Rs1), Gulf Oil Corp.(Rs 2), Hindustan Copper(Rs 5), ICSA(I) (Rs 2), Jagran Prakashan (Rs2), Jaiprakash Associates (Rs 2), Jindal Steel& Power (Rs 1), K S Oil (Rs 1), Kriti Inds (Rs1), Man Inds (Rs 5), NIIT (Rs 2), Orient Paper& Inds(Rs 1), Paper Products (Rs 2), RajeshExports (Rs 1), Ruchi Soya Inds (Rs 2),Sanwaria Agro Oils (Rs 1), Subros (Rs 2),Sujana Metal Products (Rs 5), Sun Network(Rs 5), Suzlon Energy (Rs 2) and UshaMartin (Rs 1).

5 Fourty nine companies have entered thelist of FE 500 for the first time in 2007-08.Mention may be made of Ankur Drugs, BGREnergy Systems, Binani Cement, BombayDyeing, Bharati Shipyard, ConsolidatedConst.Consortium, Century Ply, CompuageInfocom, Diamond Cables, EmmsonsInternational, Flawless Diamonds, GreatOffshore, Gujarat Fluorochemicals, GokulRefoils&Solvent, HDIL,Heritage Foods(I),Hind National Glass, ICSA(I), Ind-swift, KSL& Inds, Koutons Retail (I), KPR Mill, KpitCummins Infosystems, KNR Construction,Kriti Inds, Mundra Port, Mcleod Russel(I),MindTree, Manaksia, Meghmani Organics,Nitco, Nakoda Textile Inds, Piramal Glass,Pennar Inds, Pratibha Inds, RelianceCommunications, Redington,(I), RathiSteel, Sadhav Engg, Sakuma Exports, ShriLakshmi Cotsyn, Sanwaria Agro Oils, SardaEnergy, Torrent Power, Time Techno,Titagarh Wagons,Varun Inds,Walchandnagar and Zylog System.

5 Composite ranks have been arrived at byaveraging ranks of sales, assets, net worthand M-Cap for the years 2007-08 & 2006-07. M-Cap figures are related to January 30, 2009and January 30, 2008.

Caveats and limitations

MG Arun

CORPORATE India has beengoing through turmoil in the last few months, thanks to the

global financial meltdown and the subsequent credit squeeze. With thefall of the capital markets, all hope ofraising money from the public haddried up. Banks became more cautiousin lending to corporates, especially insectors like real estate where demanddipped drastically. Raising debt thusbecame a matter of concern for com-panies that had planned large scaleacquisitions and aggressive expan-sions.The best way forward in the slow-down, companies reckoned, is toconserve cash, focus on strengtheningcore businesses, re-align business byselling off non-core businesses, andrestructuring.

Some of the recent developments inthe corporate world point to this fact.Reliance Industries (RIL) has an-nounced that it will merge its listedentity, Reliance Petroleum (RPL) withitself at a swap ratio of 1:16. BhartiAirtel is reportedly planning to rejigoperations and create nine verticals.Hindalco, the flagship company of theAditya Birla Group is going in for afinancial restructuring so that the hugecosts incurred by it in overseas acquisi-tions do not overburden it. The TataGroup, meanwhile has already sig-naled that it is bracing itself for thedownturn, when its chairman RatanTata wrote to senior company officialsthat they need to curb investmentswhich are not absolutely necessary. It isalso interesting to see some familyowned businesses are also using theopportunity to patch up differences

within the family.Says Sidharth Punshi, managing

director & country head, Jeffries India,“This is a tough time for corporates.The economies have shrunk, and thegrowth forecast has been impacted.Financing was done when it wascheaply and readily available, now it’sbecome tough.” He sees a large shift inthe manner in which companies wouldthink and operate in the future. “Wewill see more restructuring happenglobally and in India. Large conglomer-ates facing pressure on their balancesheets will consider restructuring ofdebts or selling of non-core assets.”

Many industry observers feel thatthe RIL-RPL merger had more to dowith the current downturn than any-thing else. Analysts were stumped bythe timing of the announcement, eventhough an eventual merger of the twocompanies was expected. One analystsaid that RPL's business had beenunder pressure and may show a declineby the end of the year. “The mergerwould help bring down the cyclicalityof its business and add strength to thebalance sheet,” said an analyst. It isalso said that the move was being con-sidered since markets ascribe highervaluation for integrated energy compa-nies vis-à-vis standalone refiners,owing to better competitive positionand reduced earnings volatility. Simul-taneously, Chevron also decided to sellits 5% stake in RPL back to RIL, foraround $270 million (Rs 1,377 crore).

Meanwhile, Hindalco said inFebruary that the company will under-take a financial restructuring exerciseto earmark, allocate and credit anamount to business reconstructionreserve account. Hindalco had

acquired Canadian aluminium prod-uct maker Novelis for $5.9 billion in2007 in an all-cash transaction, whichalso included a debt of $2.4 billion. ButNovelis reported a net loss of $1.8 bil-lion in the third quarter of FY09, whichincluded non-cash, pre-tax charges of$1.5 billion for goodwill impairment,80% of that is attributed to the rise inthe cost of capital. Novelis is the firstIndian company to report goodwillimpairment, caused by the stock mar-ket crash and economic slowdown. TheNovelis loss will be written off againstthe share premium account inHindalco’s books.

According to Raju Bhinge, CEO,Tata Strategic Management Services,companies will now take a hard look atthe way they have been functioning sofar. “Most companies will be looking attheir balance sheets—at their operat-ing assets, current assets and theinvestment schedule,” he said in a


500 crystal grazing500 crystal grazing

Shaping up inslowdown timesThe slowdown is a test by fire for corporates.But it is also an opportunity for some toemerge leaner, productive and innovative


recent interview. “They will look at allcomponents more closely, like sub-sidiaries, associate companies, invest-ment stake, equity or real estateholdings. There might be divisions andunits within companies that could bespun off. A great deal will depend on thetiming.”

Although companies will move cau-tiously when it comes to large scaleinvestments and big ticket acquisitionsin the slowdown, there is a lot of scopefor firms to also look at buys that aregood strategic fits, say experts. AjayDhankhar, partner, McKinsey & Co Inc,said that although the popular notion isthat companies should conserve asmuch as cash at the moment since theseare recessionary times, certain pru-dent investments can bring in richrewards. He cited the examples ofPfizer's acquisition of Wyeth and theRoche-Genentech deal recently to showhow planned investments should not be

put off citing recessionary pressures.How has the downturn impacted

corporate deals? According to GrantThornton, the total value of deals(M&A and PE) announced in the calendar year 2008 was $41.54 billion as against $70.14 billion and $28.16 bil-lion in 2007 and 2006 respectively. Thislooks disappointing, but consideringthat just a handful of deals in the previ-ous year had contributed much ofchunk of investments, experts feel thatall is not lost.

Harish V, partner, Grant Thorntonsays that the momentum is expected toreturn, especially in emerging marketslike India. “With moderating inflation,lowering of interest rates, timely inter-vention by federal governments acrossthe globe to provide financial stimulus,lowering of key commodity pricesespecially oil, we expect (and hope) thatthe markets will resume their growthmomentum globally and particularly

in emerging markets like India,” hesaid in a recent report.

So, which are the areas to be watchful about? “Companies withheavy debt positions that will confrontexpensive roll over provisions becauseof tightness of liquidity have prob-lems. Companies that chase valuationsrather than have fundamental businessvalue, also have problems,” saysShumeet Banerji, CEO, Booz &Company. “You should be very clear, inbad times, as to what businesses youwill be in now, or will enter when thingslook better,” he adds.

So, overall, this is a test by fire forIndia Inc. Some of the most iconic con-cepts as well as companies have drop-ped by the road, causing muchconfusion and chaos. But this also pro-vides a window of opportunity for com-panies that would want to come out ofthe slowdown—leaner, nimble, moreproductive and innovative.

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Pradip Kumar Dey

INVESTORS have witnessed an ero-sion of Rs 22.82 lakh crore (-44.7%)in their wealth in the last 242 trad-

ing sessions on the stock exchange(BSE).The total BSE M-Cap hasdecreased to Rs 28.24 lakh crore onMarch 17, 2009 from Rs 51.07 lakh croreon March 17, 2008. Also, on the NationalStock Exchange (NSE), the M-Capdecreasedby21.83lakhcrore(-45.1%)toRs 26.53 lakh crore on March 17, 2009from the level of Rs 48.36 lakh crore onMarch 17, 2008.

The Sensex decreased by 5945.67points (-40.15%) to 8,863.82 on March 17,2009 from 14,809.49 on March 17, 2008.The Nifty, on the other hand, decreasedby1,745.65points(-38.77%)to2,757.45onMarch 17, 2009 from its previous level of4,503.10 on March 17, 2008.

DR Dogra, DMD, CARE said, “Afterseeing a remarkable growth inthe Sensex over the last fouryears, the total market capitali-sation of Indian companies hasplunged by more than Rs 30 lakhcrore, wiping off huge investorfunds. Primarily, this was due tothe huge sell-off by FIIs fromequity markets across the globe,following the subprime crisis.With a severe liquidity crisis anda contraction in demand glob-ally, Indian GDP that was grow-ing at an average rate of 9%,declined to 5.3% in the last quar-ter. Taking cues from the globalfinancial markets, the Indianstock market too continued thedownward momentum, therebyresulting in huge losses toinvestors in the stock market.”

A sectoral analysis showsthat while the top sector, namelyoil and gas, in terms of marketcap, has decreased by 33.55%during the study period, othersectors like construction, diver-

sified, retailing, steel, shipping, media,engineering, electronics, textiles andtyres have been losing significantlymarket cap values.

On the other hand, FMCG, ciga-rettes, pharmaceuticals, electricityandtradingsawalessererosioninmar-ket cap compared to March 17, 2008.

Amongthemajorindustrialhouses,a significant decrease in M-Cap wasseen in the case of Essar (-69.8%) fol-lowed by Jaiprakash (-63.8%), AnilAmbani led ADAG (-61.9%), Godrej (-60.4%) and OP Jindal (-57.1%). The M-Cap of three Mukesh Ambani ledReliance Industries group companiesdecreased from Rs 4.14 lakh crore onMarch 17, 2008 to Rs 2.41 lakh crore onMarch 17, 2009.

An opposite trend was seen in thecase of Hero group (40.1%). The M-Capof five Hero group companiesincreased from Rs 14,019 crore on

March 17, 2008 to Rs 19,637 crore onMarch 17, 2009. The M-Cap of the Agroup (197 companies), which lost sig-nificantly, decreased by 54.89% (Rs30.15 lakh crore) from Rs 54.93 lakhcrore on March 17, 2008 to Rs 24.78 lakhcrore on March 17, 2009. Among the Agroup companies, a significantdecrease in M-Cap was seen in the caseof NMDC(-95.9%),Unitech(-90.1%),JaiCorp (-86.6%), Suzlon Energy (-84.6%)and Godrej Industries (-80.0%).

A reverse trend was seen in the caseof Spice Communications (122.8%),Hero Honda Motors (42.0%), CastrolIndia (30.9%) and Colgate Palmolive(I)(15.5%). Reliance Industries kept itsfirst rank intact during the last oneyear. Despite keeping its first rank, itreduced its value by Rs 1.38 lakh crore.ONGC, the PSU giant, lost Rs 57,353crore to its M-Cap during the sameperiod. Hindustan Unilever improved

its performance during the yearand the company's M-Cap in-creased by Rs 2,431 crore duringthe period.

Some significant decline inM-Cap of some major steel com-panies was observed on March17, 2009. They included TataSteel, which lost Rs 35,797 croreto its M-Cap, a decline of 74.4%overitsMarch17,2008levelof Rs48,121 crore. JSW steel alsoshowed a decline of 79.3% in itsM-Cap. Ispat Industries showeda decline of 68.3% to its M-Capduring the study period. It's notthat only steel stocks showed adecline but some NBFCs likeReliance Capital (-72.6%), HDFC(-38.7%) too showed a declinein M-Cap.

Conversely, some of thebiggest increases in M-Cap werenoticed in the case of pharmacompanies like Lupin (29.7%)and GlaxoSmithkline Pharma-ceuticals (19.2%).

Depletion of wealthIn the past one year, investors wealth saw a decrease of 44.7%.A hefty Rs 22.82 lakh crore has depleted since March 17, 2008


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