Software majors TCS and Infosys, pharma giants Sun Pharma and Lupin and private sector lenders HDFC Bank and Axis Bank feature in Forbes India’s Super 50 List this year, while biggies like Tata Motors and HUL have been dropped.
The list, in its second year, also features 14 newcomers, including Infosys, Maruti Suzuki, Bharat Forge, Alembic Pharma, Gillette India, HDFC Bank, Bajaj Finance, Kansai Nerolac and LIC Housing Finance, among others. Companies which have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy’s Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank.
The three-stage methodology followed by Forbes together with PwC India uses a set of eliminators to arrive at a critical mass of companies, which was then subjected to the tests of market capitalisation growth, sales growth CAGR and return on equity over a three-year period to ensure consistency in performance.
“A sharp focus on capital efficiency, innovation and customer centricity defines this year’s Super 50 companies. Despite their diverse nature, these common threads make these companies benchmarks in excellence,” Forbes India Editor Sourav Majumdar said.
Although Infosys made it to the list, Infosys CEO Vishal Sikka last Monday wrote to his employees expressing his disappointment with the firm’s results for the June quarter.
“I am disappointed. Disappointed that our revenue performance was not what we could have delivered, but even more so, that this overshadowed the many strong strides we made on executing our strategy,” Sikka wrote, announcing immediate changes in the team.