Mukesh Ambani-led Reliance Industries Limited has acquired the top rank in the list of India’s top 10 companies. The list has been made on the basis of assets calculated on 31st March, 2014. The information was given to the Parliament on 10th March, 2015.
Corporate Affairs Minister, Arun Jaitley, gave a written reply to the Rajya Sabha and mentioned that the Mumbai based conglomerate tops nationwide. Reliance Industries is said to have an asset base of Rs.367,583crores.
Assets of a total of 415,886 companies were filed in the balance sheets for 31stMarch, 2014 till 30thNovember, 2014. The value of the assets of the year 2013 – 2014 came to be Rs. 117.08 lakh crores. As on 31st March, 2014, 15.3% of these assets make up the share of the top 10 companies, itself.
Other companies in the list
The next company that holds the second position is the State-owned Indian Oil Corporation Limited with an asset base of Rs. 252,413.78 crores. Apart from Reliance Industries, the mortgage lender, Housing Development Finance Corporation Limited, popularly known as HDFC, is the only private company to feature in the list of top 10. It holds the third position with total assets of Rs. 225,757.39 crores.
The next few companies that follow in the order are Power Finance Corporation Limited with assets of Rs. 194,164.10 crores; National Thermal Power Corporation (NTPC) Limited with assets of Rs. 179,554.18 crores and Rural Electrification Corporation Limited with assets of Rs. 152,852.90 crores.
Power Grid Corporation of India Limited holds the 7th position with total assets of Rs. 139,589.07 crores. The next three in the order are Life Insurance Corporation (LIC) Housing Finance Limited, Steel Authority of India Limited and Bharat Sanchar Nigam Limited (BSNL). Their assets are Rs. 95,777.02 crores, Rs. 91,961.89 crores and Rs. 89,333.44 crores respectively.
Reliance Industries Limited
The Reliance Group was founded by Dhirubhai Ambani. It started as a textile company and has now emerged as the largest private sector enterprise. With touching every sector, the Group has been one of the leaders in the business of energy and materials value chain. The parent company, Reliance Industries is a Fortune Global 500 company. It has achieved this tag in less than 30 years.
Reliance excels in petroleum refining, petrochemicals, fiber, telecom, retail, etc. The company has earned a big name in the global industry. It ranks first in the production of polyester yarn and fiber, worldwide. Besides, the company is also among the top five to top ten in the production of major petrochemical products in the world.
Recently the Chairman, Mukesh Ambani, was also declared as the richest man of India in the Forbes List of 2015. He has been holding the first position for the past eight years. He also moved a step ahead in the global list and was ranked at the 39th place with a net worth of $21 billion.