India’s TOP 500 Companies 2021

INDIA’S TOP 500 COMPANIES 2021 7 ‘India’s Top 500 Companies 2021’ includes private sector companies and public sector enterprises (PSEs) listed on the Bombay Stock Exchange (BSE) and/or the National Stock Exchange (NSE), India’s two major stock exchanges. Total income as per standalone financial statements remains the primary criteria for the initial shortlisting of companies. Companies that were listed before March 31, 2020 were considered for inclusion. However, the editorial team continues to use a diverse set of parameters to refine and arrive at the list of Top 500 companies. Such criteria include three year losses, negative net worth, market capitalization, and financial health (*). Further, companies that were de- listed until March 31, 2020 were excluded from the publication. Total income, net profit, and net worth continue to be the criteria used for ranking Dun & Bradstreet’s ‘India’s Top 500 Companies 2021’. * Macroeconomic conditions in India, in the past few years have impacted the financial health of many Indian companies. There have been instances wherein companies faced difficulties in servicing their debt and have been subject to bankruptcy proceedings at the National Company Law Tribunal (NCLT) or have adopted different debt restructuring mechanisms. In such cases (where information is public), an additional criteria set has been applied to include and exclude companies from the Top 500 list. This edition also features financial comparison of the profiled companies classified under different sectors. We have identified 60 distinct sectors for classifying companies. We have classified companies into the respective sectors based on the company’s line of business falling within the defined scope of the sector as mentioned in the ‘Sector Definition’. In the case of companies operating in more than one sector, we have classified these companies based on the major source of the respective company’s income. The main source of information includes FY20 segmental revenues and other related business information. The ‘Diversified’ category includes companies operating in more than one segment, whereby no segment contributes to more than 35% of the overall revenue of the company. Companies that could not be classified under any of the sectors as per the ‘Sector Definition’ and did not have any identifiable peers meriting a separate sector were classified as ‘Others’. Within each sector, the companies are further ranked on their total income. All the financial information in the publication is based on standalone financials sourced from annual reports or audited financial statements. Financial information for the period ending between October 31, 2019 and September 30, 2020 has been considered for the purpose of the publication. In effect, for the majority of Top 500 Companies, the audited financial statements have been considered for the period ended March 31, 2020. For companies where the published financial statement is for a period other than 12 months, the financials are annualized for the purpose of shortlisting, ranking, and profiling. Dun & Bradstreet excluded companies in the absence of unavailability of the annual reports METHODOLOGY Dun & Bradstreet