IOC is India’s first Fortune 100 company, seven others on 500 list

Wednesday, 13 July 2011 01:04 -     - {{hitsCtrl.values.hits}}

NEW YORK: Eight Indian companies have made the cut in the list of world’s 500 largest companies compiled by Fortune magazine, with Indian Oil finding a place in the top 100 and Reliance Industries in 134th spot.

Out of the eight, five are State-run entities. Indian Oil has cornered the 98th spot, up from 125th place last year. Mukesh Ambani-led Reliance Industries has also improved its ranking from previous year’s 175.

Other Indian companies in the list are Bharat Petroleum (271), State Bank of India (291), Hindustan Petroleum (335), Tata Motors (358), ONGC (360) and Tata Steel (369). Fortune’s global list of world’s 500 largest companies for 2011, compiled on the basis of latest annual revenue figures, is topped by retail giant Wal-Mart Stores. The retailer had annual revenues of $ 421,849 million.

The 2010 list also featured the same eight Indian companies. In the latest ranking, except State Bank of India, all other entities have improved their positions. Last year, State Bank of India was at the 282 spot, followed by Bharat Petroleum (307), Hindustan Petroleum (354), Tata Steel (410), ONGC (413) and Tata Motors (442).

Wal-Mart Stores is followed by Royal Dutch Shell (US$ 378,152 million) and Exxon Mobil (US$ 354,674 million) at second and third positions, respectively. According to the latest rankings, Indian Oil raked in annual revenues of $68,837 million while that of Reliance Industries stood at $58,900 million. Bharat Petroleum had revenues of $34,102 million, while State Bank of India netted $32,450 million in revenues.

The revenues of Hindustan Petroleum stood at $28,593 million, Tata Motors ($ 27,046 million), Oil and Natural Gas Corporation ($26,945 million) and Tata Steel ($26,065 million). Meanwhile, other companies in the global top 10 are BP (4), Sinopec Group (5), China National Petroleum (6), State Grid (7), Toyota Motor (8), Japan Post Holdings (9) and Chevron (10).