About 29 companies from Gujarat have made their way to the India’s Top 500 Companies’ report released by Dun & Bradstreet. This list includes the companies belonging to Adani Group, Torrent Group and a host of state-government run companies.
The ranking was done on the basis of various parameters such as total income, net profit and net worth, stated an official release from D&B on Tuesday.
Gujarat State Fertilizers and Chemicals Ltd (GSFC), Gujarat Mineral Development Corporation Ltd (GMDC), Gujarat Industries Power Company Ltd (GIPCL), Gujarat Gas Company Ltd (GGCL), Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC) and Gujarat Alkalies and Chemicals Ltd (GACL) were among the state-run companies present on this list.
Among the private companies, Adani Enterprises, Adani Port & Special Economic Zone, Adani Power, Torrent Pharmaceuticals, Torrent Power, Arvind Ltd, Cadila Healthcare Ltd, and others were present on the list of Top 500 companies.
Speaking about the report, Mr. Kaushal Sampat, President & CEO – India, Dun & Bradstreet said “Despite subdued consumption demand and inflationary pressures that persisted during FY14, the Top 500 Companies managed to show modest 8% growth in their top line earnings during first nine months of FY14 as compared to the same period previous year. On the profitability front, margins declined marginally from 7.5% during 9M FY13 to 7% during 9M FY14.
According to the study, 288 companies featuring in India’s Top 500 Companies account for more than 10% of India’s total employment in organized sector. In addition to this they also contribute 20% to the country’s GDP. The report also reveals that India’s Top 500 Companies are resulting for about 30% of India’s total exports helping in building brand India in the global arena.