The publication ?India?s Top 500 Companies 2016? serves as a testimony to the resilience
of Corporate India and their critical role in driving the economic growth of the
nation. FY15 was characterized by macroeconomic improvement and consequent turnaround
in the investor sentiments. This was primarily attributed to government?s policy
actions on environmental clearances; mining licenses and a push to some stalled
projects which aided the growth prospects. Despite the positive domestic economic
indicators, factors arising due to volatile external environment continued to exert
severe stress on the performance of India?s Top 500 companies. An analysis of the
Top 500 companies across more than 50 sectors can be treated as an indicator of
the growth trends of India?s leading businesses.
Following are some of the key highlights in this publication:
37 new entrants made their debut in the 2016 edition as compared to 51 new companies
in the last edition. These new entrants recorded 10% growth in total income in FY15
compared to FY14
The top-line growth of the Top 500 companies was dented due to global deflation
of manufactured products coupled with surplus capacity in the domestic market and
falling domestic and global demand. The total income growth of the Top 500 companies
slowed down to 2.8% in FY15 compared from 9.9% in FY14
The Profit after Tax (PAT) of the Top 500 companies grew marginally from 3.2% in
FY14 to 4.6% in FY15, on account of correction in commodity prices
The aggregate dividend paid by the Top 500 companies slowed down from 16.7% in FY14
to 13.2% in FY15 on the back of slow income and profit growth
In terms of y-o-y growth, total income of large-cap companies grew at a rate of
1.8% in FY15 as compared to the growth of 6.2% and 4.2% witnessed by mid-cap and
small-cap companies, during the same period
71 PSUs, which feature in the current edition and account for nearly 14% of Top
500 companies in terms of absolute numbers, contribute to nearly 40% of the aggregate
total income of Top 500 companies
Dun & Bradstreet also analyzed the recent performance of 498 companies from India?s
Top 500 companies based on availability of information for first three quarters
of FY16 (Apr ? Dec 2015) ?
The total income of Top 500 companies declined by 4% during 9M FY16 as compared
to 9M FY15, while their PAT declined by 2.9% during the same period
The total expenses of the Top 500 companies declined by 3.9% during 9M FY16 as compared
to 9M FY15 during which they grew by 5.6%
The government has implemented a ?reform-to-transform? agenda which is a series
of incremental, yet collectively meaningful measures to spur economic growth. These
measures jointly with regulatory policies are expected to accelerate the growth
of Indian economy. As this dynamic economy continues to evolve, Dun & Bradstreet
is committed to track India?s corporate growth story through its editions of ?India?s
Top 500 Companies?.
Naina R Acharya
Deputy Leader - Operations
Economic Analysis Group
Dun & Bradstreet India
