Cover Story

BT500 firms soar 40% in market cap but face tough challenges ahead

Firms that are part of the BT500 universe have had a pretty good year. The consolidated market cap of these companies jumped nearly 40% over the past year. But going ahead, these firms will have to navigate many challenges.

Read more

BT500 Rankings

* Average Market Cap for the period (October 2023 - September 2024) * Average Market Cap for the period (October 2022 - September 2023) * Average Market Cap for the period (October 2021 - September 2022) * Average Market Cap for the period (October 2020 - September 2021) * Average Market Cap for the period (October 2019 - September 2020)

BT500 Report Card

BT500 Report Card

Companies Comparison

Companies Comparison

BT Billionaires List

Names are representative as promoter holdings include shares of all the promoters held at the end of latest quarter. Value of total promoter holding is calculated by multiplying the number of shares by the market price on real time basis.

Note Names are representative as promoter holdings include shares of all the promoters. Value of total promoter holding is calculated by multiplying the number of shares of all the promoters by the market price. Data as of November 10, 2024; only companies that are part of the BT500 have been considered

Note Names are representative as promoter holdings include shares of all the promoters. Value of total promoter holding is calculated by multiplying the number of shares of all the promoters by the market price. Data as of November 10, 2023; only companies that are part of the BT500 have been considered

*Figures calculated by multiplying the total number of shares held by promoters as of September 30, 2022 and market price on November 24, 2022

Articles

BT500 Wealth Creators Summit 2023

Articles

BT500: 'Tragic to see rural India is most under-financed,' says IDFC First Bank MD & CEO V Vaidyanathan

During the discussion on 'Financial Roadmap To $5 Trillion Economy', Vaidyanathan talked about changes in infrastructure financing, digital infrastructure, cyber risk, and the arrival of more NBFCs (Non-Banking Financial Companies).

Methodology

India's largest companies have been ranked based on real-time market capitalisation. For a deeper perspective, we have also provided total income, total assets, profit after tax (PAT), PAT margin (%), return on net worth (%) and return on capital employed (%) for the latest financial year or latest data available.

The country's most valued companies have been ranked based on market capitalisation by Business Today every year since 1992. Like previous years, this year's rankings are based on their average market capitalisation for the 12-month period from October 1, 2023, to September 30, 2024.

We began with a master sample of around 4,800 listed firms. We used the BSE market capitalisation for all cases, except firms that are listed only on the NSE. Some 319 companies that were not traded on at least 20% of the 248 total trading days in the October 2023-September 2024 period were excluded from the list. Thereafter, we extracted the average (daily) market capitalisation of each company over the period under consideration and used it to rank the Top 1,000 companies.

For a deeper perspective, we have also provided the average market capitalisation over the past two fiscals (FY24 and FY23), return on net worth (RONW) and return on capital employed (ROCE), in the tables. We have also ranked companies by assets, profit after tax (PAT), total income and debt.

Firms in the banking, financial services and insurance (BFSI) sectors have not been ranked on these parameters as their method of capturing and measuring these metrics is markedly different. For most firms, the fiscal ends on March 31. The exceptions have been mentioned in the footnotes below the tables. All data has been sourced from corporate database ACE Equity, as on October 4, 2024.

A few companies have changed their names during the period of study. For instance, Century Textiles is now known as Aditya Birla Real Estate, Indiabulls Housing Finance is now Sammaan Capital, and DB Realty is now called Valor Estate, among others. The Top 3 players including oil-to-telecom behemoth Reliance Industries, IT major TCS and private sector lender HDFC Bank retained their positions on the list.

India's largest companies have been ranked based on market capitalisation by Business Today every year since 1992. This year's rankings are based on the average market capitalisation of the companies for the 12-month period from October 1, 2022 to September 30, 2023.

We began with a master sample of around 4,200 listed and actively traded companies. We have used the BSE market capitalisation for all cases, except companies that are listed only on the NSE. Some 332 companies that were not traded on at least 20 per cent of the 247 total trading days in the October 2022-September 2023 period were excluded from the list. Thereafter, we extracted the average (daily) market capitalisation of each company over the period under consideration and used it to rank the Top 1,000 companies.

For a deeper perspective, we have also provided the average market capitalisation over the past two fiscals (FY23 and FY22), return on net worth (RONW) and return on capital employed (ROCE), in the tables. We have also ranked companies by assets, profit after tax, total income and debt.

Companies in banking, financial services and insurance (BFSI) sectors have not been ranked on these parameters as their method of capturing and measuring these metrics is markedly different. For most companies, the financial year ends on March 31. The exceptions have been mentioned in the footnotes below the tables. All data has been sourced from the ACE Equity database as on October 3, 2023.

Meanwhile, some major mergers, demergers and acquisitions took place during the period of study. For instance, mortgage lender HDFC Ltd merged into HDFC Bank, LTI and Mindtree merged to form LTIMindtree, while Piramal Pharma demerged from Piramal Enterprises. On the other hand, some changed their names. For example, Adani Transmission is now known as Adani Energy Solutions, IIFL Wealth Management has changed its name to 360 One Wam and Welspun India is now called Welspun Living, among others.

*This is the average market capitalisation (October to September)
*ROCE stands for Return on Capital Employed
*RONW stands for Return on Net Worth

Note Names are representative as promoter holdings include shares of all the promoters. Value of total promoter holding is calculated by multiplying the number of shares of all the promoters by the market price. Data as of November 10, 2023; only companies that are part of the BT500 have been considered

The methodology used to prepare the BT500 2022 list that ranks the top 500 listed firms in India by average market capitalisation

India's largest companies have been ranked based on market capitalisation by Business Today every year since 1992. This year's rankings are based on the average market capitalisation of the companies for the 12-month period from October 1, 2021 to September 30, 2022.

We began with a master sample of 4,271 listed and actively traded companies. We have used the BSE market capitalisation for all cases, except companies that are listed only on the NSE. Some 230 companies that were not traded on at least 20 per cent of the 249 total trading days in the October 2021-September 2022 period, were excluded from the list. Thereafter, we extracted the average (daily) market capitalisation of each company over the period under consideration and used it to rank the top 1,000 companies.

For a deeper perspective, we have also provided the average market capitalisation over the past two fiscals (FY22 and FY21), return on net worth (RONW) and return on capital employed (ROCE), in the tables. We have also ranked companies based on assets, profit after tax, total income and debt, and taken only consolidated numbers except in cases where companies don't report their consolidated results.

Credits