FMCG cos create value: CII

Hindustan Lever, ITC, Bajaj Auto, VSNL, BHEL, Castrol, Colgate-Palmolive, Asian Hotels, TVS-Suzuki, Punjab Tractors, Wipro, Infosys, Cipla, Hero Honda, Tata Tea, ABB and MRF are among the value creators.

Others in the category are EIH Ltd, Indian Hotels, Asian Paints, Berger, Nirma, SmithKline Beecham Consumer, Widia, Sundaram Fasteners, Munjal Showa, Sundaram Clayton, Mico, Denso, GHCL, Tata Chem, Ingersoll-Rand, Honda Siel, KirloskarOil, Cummins and Atlas Capco.

The findings of the report are based on the calculation of economic value added EVA and return on net worth RONW of 130 top non-finance companies lasted as group A on the Bombay Stock Exchange BSE and 363 non-finance companies out of the 500 that account for the Samp;P CNX 500 index.

The study has calculated EVA net operating profit after taxes less cost of capital involved at 20 per cent cost of capital and 18 per cent cost of capital.