India’s TOP 500 Companies 2020

INDIA’S TOP 500 COMPANIES 2020 3 Dun & Bradstreet takes great pride in announcing the launch of the milestone 20th edition of its premier publication – ‘India’s Top 500 Companies’ . For more than two decades now, this publication has served as a credible compendium of information about leading corporates of India across diverse industries. Besides listing and profiling the Top 500 Companies among India’s large corporates, the publication provides comprehensive comparative performance of these top companies for key financial indicators. Furthermore, it also captures the pulse of Corporate India through in-depth analysis and also through interviews of the senior management of leading companies. India’s real GDP growth slowed down to 6.1% in FY19 after a 7% growth in the preceding year. The slowdown in economic activity was more pronounced in the industrial sector, with mining, manufacturing and electricity seeing tepid growth due to subdued demand. On the other hand, the services sector remained resilient in FY19 on the back of strong growth in financial services, real estate and professional services segments. Eventually, however, the economy began losing steam towards the end of the year and became further entrenched in FY20, with sluggishness being witnessed on both demand and investment fronts. Private consumption demand, which had witnessed some revival in FY19, lost momentum and remained largely muted in FY20. The growth in construction and services sectors which had shown resilience in the previous fiscal witnessed a downfall in FY20. Finally, the outbreak of the COVID-19 pandemic towards the end of FY20 and the consequent implementation of the nationwide lockdown led to significant disruption in the economic activity, turning the health crisis into an economic crisis. The Government has announced Rs 20 trillion worth of stimulus measures to support growth. The RBI has also introduced measures such as successive rounds of reduction in repo rate since March 2020, term loan moratoriums, export credit support and special liquidity facilities to NBFCs, Micro Finance Institutions and Housing Finance Corporations. Although the Indian economy is expected to witness a significant deceleration in growth during FY21 and downside risks to economic growth remain, the mitigating measures taken by the government and the RBI could help in bringing the Indian economy back on the path of recovery. The corporate sector, especially Top 500 Companies, has responded to the crisis with agile and innovative approaches to business continuity, altering business models and optimizing resources and supply chains to stay resilient. Given their size and reach, the Top 500 Companies can certainly help the Government and its agencies bring the economy quickly on the path of a revival. It will be interesting to see how the situation pans out over the coming year. Dun & Bradstreet will continue to provide critical insights about Corporate India’s performance through ‘India’s Top 500 Companies’. I look forward to receiving your valuable feedback and suggestions. Foreword Pankaj Khanna Head – Learning & Economic Insights Group Dun & Bradstreet India Dun & Bradstreet