DSIJ Elite 100
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The Idea
Building an equity portfolio that helps you to pursue long-term financial goals surely requires a clear-cut understanding of the relationship between the difference in the size of companies (both in terms of balance sheet size and market capitalisation), their return potential and most importantly, the relative risks investing in it carries. This distinction underlies the fact that companies with a large market capitalisation, like TCS or Reliance Industries, typically do not grow at the same rate as some of those with a smaller market capitalisation can. When it comes to safety, though, large-sized companies can, on an average, give more safety to your investments than Small-Cap companies. This is the classic case of a ‘risk-return tradeoff’.
However, to build a winning portfolio, one needs to have an optimum mix of both large as well as not-so-large companies. Keeping this in mind, we at DSIJ came out with two lists of companies, i.e. the DSIJ ‘Super 50’ and ‘Elite 100’. These lists represents two different sets of companies that command different sizes of market capitalisation – while the ‘Super 50’ gives a list of companies with a market cap of over Rs 10000 crore, the ‘Elite 100’ companies have a market cap of less than Rs 10000 crore but greater than Rs 1000 crore.
While we have already covered the ‘Super 50’ list of companies in detail in the section entitled ‘The Way We Did It’, here, we take you through the ‘Elite 100’ group. As on March 31, 2012, these companies altogether formed 55 per cent of the total market cap of India Inc.
For starters, let us take an overview of how these companies have fared in terms of the returns generated by them. At the start of FY07, buying just one share of each company in the list would have cost an investor Rs 27246. After five years, the value of investment would have been Rs 65501, which would mean a return of around 20 per cent every year. What puts this number in perspective is comparing it with the return of just 6.3 per cent generated by the BSE Sensex in the same period and 3.4 per cent generated by the BSE Mid-Cap Index. This is the power of the ‘Elite 100’.[PAGE BREAK]
Sectoral Weight
Although the list is not dominated by any single sector, ‘Computers’ (hardware, software and training) has the maximum representation, making up 14 per cent of the ‘Elite 100’ set. There are a couple of reasons why this sector has found itself such a comfortable place in the list. The first is the high rate of growth that these companies have exhibited in the study period. For example, the net profit of a firm like Tech Mahindra has witnessed a CAGR of 55 per cent between FY07-12. Similarly, MindTree’s topline has seen a CAGR of 27 per cent in the same period.
Another crucial factor that has propelled these companies into the ‘Elite 100’ list is their low debt-to-equity ratio. Software companies, by their very nature, carry very less debt in their books, and hence score high on the safety criterion. Instances of these include Patni Computer Systems, CMC and Hexaware Technologies, all of which have a zero debt-to-equity ratio. The ‘growth’ and ‘safety’ criteria, which together carry a weightage of 80 per cent in our model, made this sector among the toppers.
Other major sectors present in the list is ‘Pharmaceuticals’, which has 11 companies in the list. Their large representation is on account of better efficiency, a lower debt-to-equity ratio and good growth numbers. Companies like Divis Laboratories have seen their sales and net profit going up by a CAGR of 21 per cent and 23 per cent respectively for the five years ending FY12. As regards efficiency, Divis Laboratories has a weighted average operating margin as high as 40 per cent and a net profit margin of 32 per cent for the five year period FY07-12. The debt-to-equity ratio of just 0.02x pushes the company higher on the scale.
Besides Computers and Pharmaceuticals, which takes up a quarter of the total list, no other single sector has a significant presence in the ‘Elite 100’ list. The total number of sectors that have found a presence in the list is 42, which indicates a well-diversified mix, with companies from various sectors showing up well.[PAGE BREAK]
Business Groups
When we slice and dice the list to take a roundup of which business groups have dominated the space, we find that it is fairly dominated by MNC associates, which make up 21 of the 100 companies. Following these are the Tata Group and Public Sector Units, both having four companies each.
One of the striking features that these MNC associates have is their strong balance sheets. Out of 21 companies in the MNC associates, a whopping 20 are debt-free. These companies ranked higher even in terms of efficiency. For example, Castrol India has a Return On Net Worth (RONW) of 88 per cent for FY12 and that of CRISIL stands at 52 per cent. These factors definitely helped these companies to top the chart. MNC associates have had a good run to dominate the chart even in terms of their share price appreciation. Agro Tech Foods is one such entity, whose stock has appreciated at a rate of 42 per cent every year in the five years ending FY2012. Safety, efficiency and the returns to shareholders’ have helped these companies to top the ranks.
That some public sector companies have also appeared in our list may certainly give our readers a cause for pause. There is no single reason which can point at why these companies have emerged with quiet conviction in the ‘Elite 100’ list. A PSU like Engineers India has found a place mainly due to its strong balance sheet (read: zero debt-to-equity) and higher efficiency. On the other hand, better growth numbers – an eye-popping 73 per cent and 49 per cent CAGR in operating profit and net profits respectively for the five years ending FY12 – have earned PTC India its rightful spot.[PAGE BREAK]
Subjective Omissions
Apart from the objective process of data churning, there are also many subjective factors in this mix that pushed certain companies out of favour – with investors, and naturally with us. In the interest of taking data over a relatively longer period to even out aberrations, we have considered the period between FY07 and FY12 for the purpose of our study. However, since FY12, many developments have taken place, putting some of the companies with an otherwise good performance under the corporate governance scanner.
In this lineup are companies like Plethico Pharmaceuticals, Educomp Solutions and CORE Education & Technologies. All of these were in the news in the last one year for some wrong reasons, primary among them being the quality of management.
It need hardly be mentioned to even a fledgling investor that the way a company’s management acts or reacts can result in massive value creation or destruction. In recent times, a textbook case of value destruction is that brought about by Ramalingam Raju, who founded Satyam Computers in 1987. In a stunning case of corporate fraud that raised a hue and cry in the Indian markets, Raju, in January 2009, admitted to falsifying revenues, margins and over Rs 5000 crore of cash balances, which led to the erosion of the company’s market cap by more than 90 per cent in a single day. In similar cases, admittedly not quite of the same magnitude, we saw some Mid-Cap companies like HDIL and Arshiya International come crashing down and losing more than half of their market cap due to some management issues.
As a matter of transparency and good editorial practices, we have put these companies in our list as they have the numbers to back them. However, we maintain a strong scepticism on these companies as bankable investment avenues and have thus highlighted them as ‘red-flagged’ companies to bring them strongly to our readers’ notice.
A Final Word
In the following section, we have provided the entire list of ‘Elite 100’ companies along with some important financial data points that have brought these names to our list. These are undoubtedly the best companies in their category and have performed well in the period under our consideration.
We would like to add here that while investors should not construe this as a list of recommendations, they can certainly use it as an initial filter to look for companies with a good track record of growth, efficiency and safety. We advise applying further filters depending upon your risk-return profile before zeroing down on any potential investment opportunity.[PAGE BREAK]
| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
Zydus Wellness Ltd. | 1 | 1439.4154272 | Edible Oils & Solvent Extraction | Zydus wellness caters to the dynamic lifestyle of today's generation. With products focusing on the best of healthcare, nutrition and cosmeceuticals, the company’s portfolio comprises of some leading brands like Ever Yuth, Nutralite and Sugar Free. The company hopes to become a Rs 500 crore company by 2013. |
Engineers India Ltd. | 2 | 8516.072565 | Project Consultancy/Turnkey | Engineers India (EIL) was set up in 1965 to provide engineering and other related technical services to petroleum refineries and other industrial projects. EIL is working under the administrative control of the Ministry of Petroleum and Natural Gas (MoP & NG), Government of India. The company aims to become a world class globally competitive EPC and a total solutions consultancy organisation. |
Crisil Ltd. | 3 | 6777.48602 | Services - Others | CRISIL is India's first rating agency that started operations in the 1987, which was promoted by the erstwhile ICICI Bank along with UTI and other financial institutions. A small example of the companies acceptability can be gauged by the success it has witnessed at the time of its IPO in the year 1993, which got oversubscribed by 2.47 times. |
TTK Prestige Ltd. | 4 | 3192.54456 | Domestic Appliances - Others | In a span of five decades, TTK Prestige has been able to register its name and emerge as India's largest kitchen appliances company catering to the needs of home-makers across the country. The company has evolved from a traditional pressure cooker brand to a complete kitchen solution provider. |
Info Edge (India) Ltd. | 5 | 1973.46465 | Services - Others | Info Edge (India) is India's premier online classifieds company with a presence in recruitment, matrimony, real estate, education and related services. Starting off with the job portal naukri.com in the year 1997, the company has widened its presence and now has nine websites under its belt in different verticals mentioned above. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
Divi's Laboratories Ltd. | 6 | 9836.9382319 | Pharmaceuticals | Divi's Laboratories was established in the year 1990, with its primary focus on developing new processes for the production of APIs. In 1995, the company flagged off its first manufacturing facility in Hyderabad having 13 multi-purpose production blocks. The second facility came into operation in 2002 at Visakhapatnam and has 14 multi-purpose production blocks. |
Amara Raja Batteries Ltd. | 7 | 1229.85 | Auto Ancl - Batteries | Founded in 1985, Amara Raja Batteries is engaged in the manufacture and sale of lead acid batteries for industrial and automotive applications in India. Its industrial and automotive batteries are exported to South East Asia, Middle Eastern Asia, the Middle East and Africa. Its brands like Amaron, PowerZone, Power Stack, AmaronVolt and Quanta are well accepted by consumers. |
Fag Bearings India Ltd. | 8 | 2617.220025 | Bearings | FAG Bearings India was established in the year 1962. The company has a presence in automotives and across all core industrial segments. Since January 2002, FAG has been integrated into a strong network as that was when FAG, together with INA and LuK, formed the Schaeffler Group. INA and FAG have become the world's second largest rolling bearing manufacturers. |
Gujarat Mineral Development Corporation Ltd. | 9 | 5676.3 | Mining/Minerals | Started off in the year 1963, GMDC was formed with a primary objective of developing major mineral resources in the state to crush and screen the silica required for glass manufacturing. Today, the operations of the company have expanded geographically to other Indian States too. |
Elgi Equipments Ltd. | 10 | 1188.40875 | Compressors | ELGI is the market leader and Asia's largest manufacturer of air compressors and automobile service station equipments. ELGI's products are also used in a wide range of applications in areas ranging from mining, transport, pharmaceuticals, power, oil, railways, chemicals, textiles, printing and ship building, to name a few. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
CORE Education & Technologies Ltd. | 11 | 3104.236584 | Computers - Software - Training | CORE Education & Technologies is India's largest global education company, having a Pan India presence. It also has a presence across US, 40 counties in UK, Singapore, and nine countries in MEA, Hong Kong and two countries in the Caribbean. The services are designed to cater to the needs of the entire education continuum of pre-school, K-12(Kindergarten through 12th Grade). |
Opto Circuits India Ltd. | 12 | 4773.69218 | Medical Equipment & Accessories | Established in the year 1992, the company is engaged in the business of medical technology and consumables. It reaches out to more than 150 countries with 205 patents and 129 patent applications pending. It develops, manufactures and markets medical equipments and consumables (non-invasive) and interventional devices and tools (invasive). |
Bata India Ltd. | 13 | 4909.752028 | Leather/Synthetic Products | Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organisation. The company went public in 1973 when it changed its name to Bata India. Its retail network covers over 1200 stores having a presence in all the metros, mini-metros and towns. |
Emami Ltd. | 14 | 6082.731948 | Personal Care | Starting off with a seed capital of Rs 20000, Emami started off as Kenco Chemicals. Its entrance itself deserves a round of applause as it entered the FMCG space in India in the seventies when the markets were dominated by the MNCs. Today, Emami is a name to reckon with in the FMCG space. |
Glodyne Technoserve Ltd. | 15 | 1564.18894565 | Computers - Software | Glodyne Technoserve is a leading Technology IMS company. The company has been able to make a mark in the IT Services domain with its quality service delivery. Glodyne has built strong skills and capabilities in the IMS services space on a managed services model. With its experience, expertise and strong IPRs, it has acquired a leadership position in this space. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
Page Industries Ltd. | 16 | 2966.92942 | Textiles - Readymade Apparels | Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture and distribution of the JOCKEY brand Innerwear/Leisurewear for men and women in India, Sri Lanka, Bangladesh, Nepal and UAE. Page Industries is also the exclusive licensee of Speedo International for the manufacture, marketing and distribution of the Speedo brand in India. |
 Abbott India Ltd.
| 17 | 3210.8754765 | Pharmaceuticals | Abbott India provides healthcare solutions through its four business units namely primary care, specialty care - Metaboloics and Urology, Specialty Care - Neuroscience and Hospital Care. The company has over 1000 employees and a state-of-the-art formulation plant at Verna in Goa. The plant has well-equipped laboratories and trained personnel to ensure international standards of quality at each step of the manufacturing process. |
Jai Corp Ltd. | 18 | 1509.6820086 | Steel - GP/GC Sheets | Jai Corp was incorporated in the year 1985. It has traditionally been into manufacturing businesses like steel, plastic processing and spinning yarn. Apart from expansion of its plastic processing business, it is now focusing and investing in emerging opportunities like developing SEZs, infrastructure, venture capital and real estate. |
Ybrant Digital Ltd. | 19 | 4524.389155 | Computers - Software | Ybrant Digital is engaged in offering digital marketing solutions to businesses, agencies, and online publishers worldwide. It connects advertisers with their audience across any form of digital media, using its massive local presence to deliver appropriate messages to the right audience. Founded in 2000 and headquartered in India, Ybrant Digital holds 24 offices worldwide. |
 Indraprastha Gas Ltd.
| 20 | 5198.2059408 | Industrial Gas | Incorporated in 1998, IGL took over Delhi City Gas Distribution Project in 1999 from GAIL (India). The project was started to lay the network for the distribution of natural gas in the National Capital Territory of Delhi. With the backing of strong promoters - GAIL and BPCL - IGL plans to provide natural gas in the entire capital region. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
Solar Industries India Ltd. | 21 | 1440.6480396 | Industrial Explosives | Solar Explosives India was founded in 1995 to produce cartridge explosives. Today, under the name Solar Industries India, the company has grown to become India's largest manufacturer of Industrial explosives and explosive initiating systems. Its manufacturing facilities span 16 locations across India and two manufacturing units in Africa. Further efforts for establishing a manufacturing facility to cater Europe is presently underway. |
Blue Dart Express Ltd. | 22 | 4544.01723465 | Couriers | It is South Asia's premier courier and integrated express package distribution company. Blue Dart has the most extensive domestic network covering over 33739 locations, and services more than 220 countries and territories worldwide through its group company DHL. The company aspires to continue excelling in its delivery capabilities focused on the individual customer. |
 VST Industries Ltd.
| 23 | 2185.8809856 | Cigarettes | VST Industries engages in the manufacture and sale of tobacco and related products in India. The company offers cigarettes under the Special Extra Filter, Moments, and Charms Virginia Filter brands. The company was formerly known as The Vazir Sultan Tobacco Company and changed its name to VST Industries in April 1983. VST Industries was incorporated in 1930. |
Gujarat Fluorochemicals Ltd. | 24 | 5316.74 | Chemicals - Organic - Others | A part of the USD two billion INOX Group, Gujarat Fluorochemicals attained a key milestone in 2007 when it commissioned India's largest PTFE plant. GFL also operates India's largest refrigerant plant. It has been named as India's Most Investor Friendly Company, India's Best Managed Company in the Chemical sector American Express and Dun and Bradstreet. |
 Procter & Gamble Hygiene & Healthcare Ltd.
| 25 | 6827.62764455 | Personal Care | P&G is one of the largest and amongst the fastest growing consumer goods companies in India. Established in 1964, P&G India now serves over 650 million consumers across India. Its presence pans across the Beauty and Grooming segment, the Household Care segment as well as the Health and Well-Being segment, with trusted brands that are household names across India. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 Castrol India Ltd.
| 26 | 6368.093393975 | Lubricants | Castrol India manufactures and markets automotive and industrial lubricants in India and across the globe. The company markets its automotive lubricants under Castrol and BP brands. Castrol India offers its products through a network of 270 distributors, servicing approximately 70000 retail outlets. The company was founded in 1910. |
KPIT Cummins Infosystems Ltd. | 27 | 1385.28524295 | Computers - Software | The company is a leading technology solutions partner for global manufacturing corporations with a special focus on Automotive, Energy and Utilities, Industrial Equipments, and Semiconductor industries. Its highly focused approach has helped it in pioneering innovative solutions. It has filed 43 patents in the Automotive and Semiconductor domains. |
Bajaj Electricals Ltd. | 28 | 1873.238016 | Domestic Appliances - Others | Bajaj Electricals operates in home appliances, fans, lighting, luminaries, and engineering and projects businesses primarily in India. It offers its products through distributors and authorised dealers, and operates approximately 400000 retail outlets. The company was formerly known as Radio Lamp Works and changed its name to Bajaj Electricals in October 1960. |
Rallis India Ltd. | 29 | 2353.073569 | Pesticides/Agro Chemicals | Rallis India engages in the manufacture and sale of pesticides, plant growth nutrients, and seeds in India and across the globe. It sells its products through dealers and retailers. The company is headquartered in Mumbai, India. Rallis India is a subsidiary of Tata Chemicals. |
 PTC India Ltd.
| 30 | 1769.84142 | Power - Generation/Distribution | PTC India is the leading provider of power trading solutions in India. It was established in the year 1999 as a Government of India initiated PPP, whose primary focus was to develop a commercially vibrant power market in the country. PTC is also the co-promoter of the first National Power Exchange in the country besides diversifying into the unique role of a complete energy solutions provider. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 Sunteck Realty Ltd.
| 31 | 2387.993135 | Construction & Contracting | Realty has been one segment which has helped many companies catapult into the next orbit. Sunteck Realty is one such company. Despite a difficult situation in the Realty sector, it has managed to put in a strong five-year sales CAGR of 92 per cent and a bottomline five-year CAGR of 70 per cent. It has, thus made it to the list of Elite 100. |
 Gujarat State Petronet Ltd.
| 32 | 4245.4894104 | Petrochem - Others | GSPL, a state-owned organisation, builds infrastructure that transmits gas across Gujarat creating last-mile linkage for end users. Presently, the company transmits over 30 MMSCMD of natural gas. With a consistent focus on expansion, GSPL has witnessed a strong five-year sale CAGR of 29 per cent and a five-year CAGR of 42 per cent in the bottomline. |
Gujarat Gas Company Ltd. | 33 | 4910.05125 | Industrial Gas | Gujarat Gas, a venture of British Gas, has created immense value for investors. Gujarat Gas Company still holds the distinction of being India’s largest private sector player in natural gas transmission and distribution business. On the growth front, it posted a five-year sale CAGR of 20 per cent and a bottomline CAGR of 26 per cent. |
Indiabulls Real Estate Ltd. | 34 | 2956.08040155 | Construction & Contracting | Indiabulls Real Estate is another company which has managed to benefit from the realty segment. It has 31 ongoing projects totalling 72.86 million square feet, 2588 acres of SEZ development and an additional land bank of 1001.43 acres. On the performance front, the company’s five-year bottomline CAGR has been strong at 67 per cent. |
 Infotech Enterprises Ltd.
| 35 | 1660.087374 | Computers - Software | Infotech Enterprises provides leading-edge engineering solutions, including product development and life-cycle support, process, network and content engineering. Through the organic as well as in organic growth, the company has consistently witnessed a good growth. While its five-year sales CAGR stands at 23 per cent, the bottomline CAGR stands at 15 per cent. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 Patni Computer Systems Ltd.
| 36 | 6441.59635635 | Computers - Software | Patni Computers Services pioneered the Indian Information Technology sector and was taken over by iGate in January 2011. Through its global presence (23 international offices), it has more than 360 ‘Fortune 500’ companies. On the growth front, it has posted a five-year sales CAGR of 17 per cent and its bottomline CAGR stood at 19 per cent. |
AIA Engineering Ltd. | 37 | 3401.66414405 | Castings/Foundry | AIA Engineering almost holds a monopolistic status as it specialises in the design, development, manufacture, installation and servicing of high chromium wear, corrosion and abrasion resistant castings used in the cement, mining and thermal power generation industries. With all these industries witnessing smart growth, AIA has also witnessed strong growth. The company’s five-year sales CAGR stands at 22 per cent and its bottomline CAGR stands at 14 per cent. |
 Torrent Power Ltd.
| 38 | 9356.8385815 | Power - Generation/Distribution | Torrent Power has changed the definitions of efficiency in the power sector. This company has showcased to the world how the transmission and distribution losses can be captured. Torrent has a generation capacity of 1647.5 MW. On the growth front, the five-year sales CAGR stood at 42 per cent and its five-year net profit CAGR stood at 77 per cent. |
McLeod Russel (India) Ltd. | 39 | 2857.34183165 | Plantations - Tea & Coffee | McLeod Russel is the world's largest tea producer and produces around 10 crore kilograms of high quality tea per year. It is also the largest tea exporter in India. With a consistent focus on quality, the company has created a space for itself in the global tea markets. On the growth front, the company’s five-year sales CAGR stands at 19 per cent and five-year net profit CAGR stands at 30 per cent. |
 Honeywell Automation India Ltd.
| 40 | 2449.3662856 | Instrumentation & Process Control | Honeywell Automation India is a subsidiary of Honeywell (a Fortune 500 company) and dates back its presence in India to 1930. Each of its four businesses - Aerospace, automation and control solutions, performance materials and technologies, and transportation systems - has well-established operations in India. The company has posted a strong five-year sales CAGR of 20 per cent and a bottomline CAGR of 12 per cent. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 BASF India Ltd.
| 40 | 2164.2475 | Chemicals - Organic - Others | BASF India is a subsidiary of BASF Germany - a Fortune 500 company. BASF has been a leader in speciality chemical business through innovation. Known for its clean and elaborate annual reports, the company has created immense value for investors. On the growth front, the company posted a five-year sales CAGR of 30 per cent and a five-year net profit CAGR of 15 per cent. |
Educomp Solutions Ltd. | 42 | 1834.821063 | Computers - Software - Training | Educomp Solutions is the company that brought the Indian Education sector in the limelight by revolutionising the Indian education sector. Through its innovative learning methods and focus on technology, it created its own niche. On the growth front, it posted a five-year sales CAGR of 68 per cent and a net profit CAGR of 37 per cent. |
 Supreme Industries Ltd.
| 43 | 2607.22650675 | Plastics - Plastic & Plastic Products | Supreme Industries is an acknowledged leader in the Indian plastic industry. In fact, it is credited with pioneering several products in India like cross-laminated films, multilayer films and SWR piping systems. Through constant innovation, the company has managed to put in better growth on major parameters. While its five-year sales CAGR stands at 21 per cent, its five-year bottomline CAGR stands at 36 per cent. |
 Nava Bharat Ventures Ltd.
| 44 | 1785.7548 | Diversified | Diversification on the business as well as geographical front has been the key behind the success of Nava Bharat Ventures. The company's interests span out in power generation, ferro-alloys, mining and agri-business. It operates in different geographies across India, South East Asia and Africa. No wonder the company has managed to post a five-year topline CAGR of 12 per cent and five-year bottomline CAGR of 13 per cent. |
 Natco Pharma Ltd.
| 45 | 1068.53042475 | Pharmaceuticals | Natco Pharmaceuticals has played a pivotal role in providing relief to Cancer patients by making available certain drugs at extremely lower prices. This sort of innovation has helped the company capture a good market share. It has posted a five-year sales CAGR of 25 per cent and a five-year net profit CAGR of 14 per cent. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 SKF India Ltd.
| 46 | 3,557.07 | Bearings | SKF India is a subsidiary of SKF which is a leading global supplier of bearings, seals, mechatronics, lubrication systems and services. Over the years, SKF India has evolved from being a pioneer ball bearing manufacturing company to a knowledge-driven integrated solutions provider. This innovation and focus on technology has helped the company appear in our list of Elite 100. |
Coromandel International Ltd. | 47 | 7,999.54 | Fertilisers | Earlier known as Coromandel Fertilisers, Coromandel International indicates the growth witnessed in the Indian Agricultural sector. Despite the restrictive policies and government regulations, the company has managed to put in a good topline and bottomline performance in the past five years. |
Torrent Pharmaceuticals Ltd. | 48 | 5,214.60 | Pharmaceuticals | Founded in 1959, Torrent Pharmaceuticals started growing in the new millennium when it built operations in countries like Germany, Brazil, Japan, and Australia. Its hard work started paying off when its revenues crossed a landmark of Rs 1000 crore in FY07 and Rs 2000 crore in FY11. The five-year sales CAGR stands at 16 per cent and its bottomline CAGR stands at 25 per cent. |
 Pidilite Industries Ltd.
| 49 | 8,584.34 | Chemicals - Speciality - Others | Pidilite is a company which has categorically focused on innovation. The kind of products it offers has increased consistently along with a growth in its topline and bottomline. It has a strong brand value, so much so that one of its products - Fevicol - is synonymous with adhesives. With a strong focus on innovation and branding, it has posted a five-year sales CAGR of 18 per cent and a bottomline CAGR of 24 per cent. |
 Phoenix Mills Ltd.
| 50 | 3,012.79 | Construction & Contracting | Known for its turnaround story as a prime case study, Phoenix Mills is a perfect example of how a company can rise from ashes. Today it is one of largest realty companies in India with a major presence in commercial and retail space. Riding on the realty boom, the company has managed to post a five-year sales CAGR of 43 per cent. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
Alfa Laval (India) Ltd. | 51 | 7,064.43 | Engineering - Heavy | One of the finest automation companies in India, Alfa Laval (India) manufactures the best heat transfers, separation and fluid handling technologies. Its products and solutions are used in areas of food and water supply, energy, environmental protection and pharmaceuticals. With an emphasis on making companies future ready, it has witnessed a strong growth in its topline as well as bottomline. |
 Hindustan Oil Exploration Company Ltd.
| 51 | 1,421.07 | Oil Drilling And Exploration | HOEC was the first private company in India to enter the field of Oil and Gas exploration. It has a participating interest in nine Oil and Gas fields in India - Cambay basin, Cauvery basin, Assam Arakan basin and Rajasthan basin. Keeping up with the pace of its peers, the company has posted a strong growth with a five-year sales CAGR of five per cent and a net profit CAGR of 68 per cent. |
MindTree Ltd. | 53 | 1,926.85 | Computers - Software | Mindtree is a global information technology solutions company focusing on providing technology solutions to help businesses and societies flourish. Its consulting-driven approach has helped it in becoming a strategic partner to over 40 ‘Fortune 500’ enterprises. It has posted a five-year CAGR of 27 per cent and a bottomline CAGR of 19 per cent. |
CMC Ltd. | 54 | 2,972.43 | Computers - Hardware | Earlier a PSU and later taken over by the Tata Group, CMC was the first ever enterprise in India to set up a countrywide data network called INDONET. Today it is positioned as a premier IT solutions provider in the fast growing and competitive IT market. The company has witnessed a consistent growth and posted a five-year sales CAGR of six per cent and a net profit CAGR of 17 per cent. |
 FDC Ltd.
| 55 | 1,409.40 | Pharmaceuticals | With a presence in Therapeutic Drugs and Bulk Drugs, FDC has made its mark in the Indian Pharmaceutical space. With a vision of expanding its health horizons and a mission of having people-oriented organisation dedicated to innovate, manufacture and market high-quality healthcare products, the company has managed to post a good growth in its topline as well as bottomline. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
|---|
 Apollo Hospitals Enterprise Ltd.
| 56 | 8,554.77 | Hospitals & Medical Services | With over 8500 beds across 50 hospitals, and a significant presence at every touch-point of the medical value chain, Apollo Hospitals Enterprise is one of Asia's largest healthcare groups. Commenced as a 150-bed hospital, the group has grown exponentially today both in India and overseas. On the growth front, the company has posted a five-year sales CAGR of 27 per cent and a bottomline CAGR of 17 per cent. |
Godfrey Philips India Ltd. | 57 | 3,246.50 | Cigarettes | With brands like Four Square, Red & White, Cavenders, Tipper and North Pole, Godfrey Phillips has its own space in the Indian cigarette market. The company has also diversified into the tea business. Godfrey Phillips India has also extended its footprint into the international markets. With this, the company has managed to post a five-year sales CAGR of 20 per cent and a bottomline CAGR of 15 per cent. |
Novartis India Ltd. | 58 | 2,326.11 | Pharmaceuticals | Novartis India operates in the areas of pharmaceuticals, vaccines, consumer health, generics, eye care and animal health. This MNC has created its niche in the Indian markets and posted a strong five-year sales CAGR of nine per cent and a bottomline CAGR of 11 per cent. It is a debt-free company and has consistently paid dividends to its shareholders thus creating value for investors. |
MRF Ltd. | 59 | 4,100.76 | Tyres & Tubes | MRF is the largest Tyre manufacturer in India. It has diverse business interests which comprise of Pretreads, Paint and Coats and Toys. With a focus on technology and product innovation, the company has created immense value for its share holders. On the growth front, the five-year sales CAGR of the company stands at 18 per cent and has a bottomline CAGR of 51 per cent. |
%20Ltd.png) Clariant Chemicals (India) Ltd.
| 59 | 1,726.68 | Dyes & Pigments | Clariant Chemicals India is promoted by the Swiss chemical company Clariant and operates in two business segments - intermediates and colours (ICs) and specialty chemicals. Clariant is consistent in its dividend payments creating value for the shareholders. It posted a five-year sales CAGR of three per cent. However, the bottomline growth has been strong with a five-year CAGR of 50 per cent. |
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%20Ltd.jpg) Styrolution ABS (India) Ltd.
| 61 | 1,303.97 | Petrochem - Polymers | Styrolution ABS is a leading manufacturer of ABS and SAN, which are plastic resins used across a wide range of products and industries. With over 40 years’ experience and the superior positioning of its parent company Styrolution, the company is perfectly equipped to ensure the highest level of quality, efficiency and innovation. |
 Carborundum Universal Ltd.
| 62 | 2,884.95 | Abrasives And Grinding Wheels | A tripartite collaboration between the Murugappa Group, The Carborundum Company, USA and the Universal Grinding Wheel, UK, Carborundum Universal has a range of over 20000 different varieties of abrasives, refractory products and electro-minerals manufactured in 10 locations in India and exported to 43 countries across the globe. |
 Mahindra Lifespace Developers Ltd.
| 62 | 1,294.47 | Construction & Contracting | Mahindra Lifespace Developers is a leading real estate player, which has a presence in eight cities and a balanced business model with a focus on residential and integrated city developments. It has completed 7.6 million sq. ft. of development, has 4.2 million sq. ft. under execution and 5.7 million sq. ft. in the pipeline. |
Ipca Laboratories Ltd. | 64 | 4,164.90 | Pharmaceuticals | Ipca Labs is a fully integrated pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. It is a therapy leader in India for anti-malarials, with a market share of over 34 per cent. In FY12, the revenues for this pharma giant were to the tune of Rs 2342.29 crore. |
Alstom India Ltd. | 65 | 2,298.51 | Power - Transmission/Equipment | Ipca Labs is a fully integrated pharmaceutical company manufacturing over 350 formulations and 80 APIs for various therapeutic segments. It is a therapy leader in India for anti-malarials, with a market share of over 34 per cent. In FY12, the revenues for this pharma giant were to the tune of Rs 2342.29 crore. |
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Tata Teleservices (Maharashtra) Ltd. | 66 | 2,731.96 | Telecommunications - Service | Tata Teleservices (Maharashtra) (TTML) has a significant presence in the GSM space through its joint venture with NTT DOCOMO of Japan and in the CDMA space in the circles of Maharashtra (including Mumbai) and Goa. It also has the largest wireline base in Mumbai and Maharashtra among all private players. |
Tech Mahindra Ltd. | 67 | 9,103.18 | Computers - Software | Tech Mahindra’s is one India’s sixth largest software exporters. The company’s service offerings are spread across a wide range, with a focus on the communications industry. It has over 128 customers, and helps them innovate and transform by leveraging unique insights, differentiated services and flexible partnership models. |
Swan Energy Ltd. | 68 | 1,087.75 | Construction & Contracting | Swan Energy is an infrastructure player which has real estate projects in prime locations in Mumbai, with a total saleable area of 2 million sq. ft. It also is currently undertaking an LNG Floating Storage and Regasification Unit in Pipavav, Gujarat, with a capacity of 3 MMTPA of LNG imports. |
Agro Tech Foods Ltd. | 69 | 1,062.50 | Edible Oils & Solvent Extraction | Engaged in the business of marketing food and food ingredients, Agro Tech Foods is affiliated to ConAgra Foods, which is the world’s third largest foods company, and Tiger Brands of South Africa. Its operations in India are carried out through some well-known brands like Sundrop Oils and Act II Popcorn. |
Glenmark Pharmaceuticals Ltd. | 70 | 8,251.33 | Pharmaceuticals | Glenmark is a leading player in the healthcare industry, with a strong presence in the discovery of new molecules and in the branded generics markets across emerging economies and the US. It also markets APIs to regulated and semi-regulated countries. Glenmark has 13 manufacturing facilities and five R&D centres across four countries. |
Hubtown Ltd. | 70 | 1,309.25 | Construction & Contracting | Hubtown is one of India’s leading real estate development companies. Formerly, and more famously, known as Ackruti City, it has a presence in seven cities across the residential, commercial, IT and SEZ categories. It has completed over 13 million sq. ft. of development in Mumbai and Pune. |
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Thermax Ltd. | 72 | 5522.894505 | Engineering - General | Thermax provides sustainable solutions in energy and environment in six areas of business that include boilers and heaters, absorption cooling, water and waste solutions, chemicals for energy and environment applications, power and co-generation systems and air pollution and purification, with a strong international presence spread over Asia, Africa, Russia, UK and the US. |
Balkrishna Industries Ltd. | 73 | 2352.18678765 | Tyres & Tubes | Balkrishna Industries is a leading tyre manufacturer with a strong presence in all off-highway tyres. It has an international presence so strong that 90 per cent of its revenues come from exports. Its product range includes speciality segments like agricultural, construction, industrial, earthmover, port, all-terrain vehicles and turf care applications in cross ply and radial construction. |
Gateway Distriparks Ltd. | 74 | 1632.833748 | Miscellaneous | Gateway Distriparks is a logistics facilitator, with services ranging across containers, warehousing, customs and cargo handling, among others. It operates two container freight stations in Navi Mumbai, one in Chennai and one in Vishakhapatnam, with a total capacity of 600000 TEU (Twenty-foot Equivalent Unit). It also has another one coming up at Kochi. |
Kansai Nerolac Paints Ltd. | 75 | 4850.2773 | Paints/Varnishes | Kansai Nerolac is the second largest paint company in India, with a presence in decorative paints as well as industrial paints. It operates under the brand names of Nerolac, Glossolite, Allscapes and Excel in decorative paints. It is also a market leader in automotive and powder coating. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
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 VIP Industries Ltd.
| 76 | 1363.7120415 | Plastics - Plastic & Plastic Products | VIP has been synonymous with bags and travel accessories in India. Established in 1968, the company manufactures moulded, soft and ABS (acrylonitrile butadiene styrene plastic) luggage. Over the years, it has expanded its brand portfolio and now operates under brands like VIP, Caprese, Carlton, Skybags, Alfa, Aristocrat, FootLoose and Buddy. |
%20Ltd.jpg) Berger Paints (India) Ltd.
| 77 | 3651.916893 | Paints/Varnishes | A strong player in the Indian paint industry, Berger Paints is a name well-known. It has a production capacity of 275000 MTPA and is carrying out both greenfield and brownfield expansion. The company is present in both decorative and industrial categories and has a strong distribution network of more than 14500 dealers. |
Tulip Telecom Ltd. | 78 | 1319.5 | Computers - Hardware | Tulip Telecom is one of India’s largest data telecom service and IT solutions providers offering IP-based infrastructure solutions. Titled as India’s fourth largest network integrator by Voice & Data magazine, it provides real-time networks enabling customers to integrate, interact and access data and applications over secure and managed communication platforms. |
 Apollo Tyres Ltd.
| 79 | 3880.990729 | Tyres & Tubes | A famous name in the tyre industry, Apollo Tyres has grown multi-fold over the years. It has nine manufacturing facilities at various locations across the globe and exports its products to over 118 countries. Its product portfolio is spread across passenger vehicles, commercial vehicles, bicycles and retreading. |
 Sanofi India Ltd.
| 80 | 4928.55268 | Pharmaceuticals | Sanofi is a leading global pharmaceutical company with a presence in over 100 countries and an extensive portfolio across prescription medicines, vaccines, biological products, generics and consumer and animal healthcare. Its India business has manufacturing facilities at Ankleshwar and Goa, where APIs (active pharmaceutical ingredients) and formulations are manufactured. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
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Voltas Ltd. | 81 | 3614.9157845 | Diversified | Voltas is a well-known brand for consumer cooling and refrigeration products and is a market leader in the segment. However, a majority of its revenues come from electro-mechanical projects and services. It is also present in engineering products and services, where it provides machinery to the textiles, mining and construction sectors. |
Gillette India Ltd. | 82 | 7820.4504 | Personal Care | Gillette is a brand owned by P&G India, which has a humongous presence in India through tonnes of household names. Gillette is a men’s grooming product that offers innovative razors and shaving products like gels and foams. It has now introduced skincare products for men. |
 Hexaware Technologies Ltd.
| 83 | 3270.946383 | Computers - Software | Hexaware is a leading global provider of IT, BPO and consulting services with a focus on key domains like Banking and Financial Services, Insurance, Travel and Transportation, Logistics, Life Sciences and Healthcare. It offers services that span across various traditional and emerging technologies. |
Bombay Rayon Fashions Ltd. | 84 | 3249.244 | Textiles - General | An integrated textiles company, Bombay Rayon Fashions manufactures a wide range of fabrics and garments. It is the largest shirt manufacturing company in India and has evolved itself to produce a wide range of fabrics. It has a fabric manufacturing capacity of 100 million meters per annum and a garment manufacturing capacity of 60 million pieces per annum. |
Jagran Prakashan Ltd. | 85 | 3116.81966175 | Printing/Publishing/Stationery | Jagran Prakashan is a leading media and communications group that has a presence in print, digital and outdoor media. It has newspaper operations spanning across nine titles, five languages and 15 states. It is the publisher of the famous Dainik Jagran. With a presence in other forms of media apart from print, it has only been growing larger. |
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Polaris Financial Technology Ltd. | 86 | 1572.1794429 | Computers - Software | Polaris Financial Technology provides a range of technology products and services for the verticals of core banking, corporate banking, wealth and asset management and insurance. It is the chosen partner for nine of the top 10 global banks and seven of the top 10 global insurance companies. |
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Federal-Mogul Goetze (India) Ltd. | 87 | 1451.998593 | Auto Ancl - Engine Parts | Federal-Mogul Goetze manufactures pistons, piston rings, sintered parts and cylinder liners for various segments across the automobile industry. The production of a wide range of products is carried out from facilities at Bengaluru, Bhiwadi and Patiala. The company has a strong presence in both domestic and international markets. |
Biocon Ltd. | 88 | 4648 | Pharmaceuticals | Biocon is an integrated healthcare company that has a business model spanning from pre-clinical discovery to development. It has developed a robust novel and biosimilars pipeline focussing on the treatment of diabetes, cancer and auto-immune diseases. It aspires to become a USD 1 billion company by FY18. |
Plethico Pharmaceuticals Ltd. | 88 | 1146.5134423 | Pharmaceuticals | Plethico Pharmaceuticals is a global healthcare company with a strong focus on the herbal and nutraceuticals segments. Domestically, it operates in the segments of sports nutrition, confectionary and OTC. Among its product portfolio are nutrition products like Coach’s Formula and Prolab and hair products like NuHair and Shen Min, among others. |
 Motherson Sumi Systems Ltd.
| 90 | 4624.688054854 | Auto Ancl - Electrical | The flagship company of the Samvardhana Motherson Group, Motherson Sumi Systems is one of the world’s leading manufacturers of automotive wiring harnesses and mirrors for passenger cars in India. Apart from this, it is also a leading supplier of plastic components and modules. It has a strong presence in India and in over 25 countries. |
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| Company | Rank | Market cap (Rs/Cr) | Industry | Description |
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 Orient Paper & Industries Ltd.
| 91 | 1177.99675 | Diversified | A part of the C K Birla Group, Orient Paper and Industries was incorporated in the year 1939 with a single paper machine and it is now a multi-product, multi-location company that is much more than paper. In the paper industry, the company commands the status of a leader. In the cement segment too, it has earned a solid reputation. In the appliances section, Orient has become a household name. |
 Hindusthan National Glass & Industries Ltd.
| 92 | 1676.900352 | Glass & Glass Products | The company was founded by C K Somany in 1946 following the commissioning of India's first fully automated glass manufacturing plant at Rishra (near Kolkata). At present, it is the key player in India's container glass industry with a pan India presence. It has captured a large share of the Indian markets and also has an increasingly satisfied client base in more than 23 countries. |
 Akzo Nobel India Ltd.
| 93 | 2909.91207 | Paints/Varnishes | AkzoNobel India manufactures and markets a wide range of coatings and specialty chemicals. Around 1780 people work in its six production facilities, two state-of-the-art research laboratories and 75 warehouses across India. Its retailers stand at an impressive 8500 and are growing further. Another state-of-the-art green plant will be operational in 2013. |
%20Ltd.png) Ingersoll-Rand (India) Ltd.
| 94 | 1430.18824 | Compressors | Part of the Ingersoll Rand PLC, the company was established in India in the year 1921. It mainly engages in the business of Industrial Technologies, Security Technologies and Climate Solutions. It has two manufacturing facilities at Ahmedabad in Gujarat and Sahibabad in Uttar Pradesh. It also has two engineering and technology centres located in Bangalore and Chennai. |
Gitanjali Gems Ltd. | 95 | 2926.38592035 | Diamond Cutting/Precious Metals/Jewellery | Founded in 1966, the Gitanjali Group became, many times over, a pioneer among the major diamond and jewellery houses. Today, it has operations spanning the globe, all the way from USA, UK, Belgium, Italy and the Middle East to Thailand, South East Asia, China, and Japan. It is an over USD 2500 million multinational group today. |
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%20Ltd.png) Navneet Publication (India) Ltd.
| 96 | 1372.1184 | Printing/Publishing/Stationery | Navneet Publications (India), is in the business of Educational, Children and General Books’ Publication, Scholastic Papers and Non-Paper Stationery products. Since 1959, Navneet has been a major force in the dissemination of knowledge. It is a dominant player in the field of publishing with more than 5000 titles in English, Gujarati, Hindi, Marathi, Tamil, Urdu and other Indian and Foreign Languages. |
Deepak Fertilisers & Petrochemicals Corporation Ltd. | 97 | 1289.1151981 | Fertilisers | DFPCL has established a prime position for itself over the last three decades across the Indian and global markets. Set up in 1979 as an Ammonia manufacturer, it is today a multi-product Indian conglomerate with an annual turnover of over USD 300 million. Its multi-product portfolio spans from industrial chemicals to mining services and consulting and value added real estate. |
NIIT Technologies Ltd. | 98 | 1503.3305351 | Computers - Software | NIIT Technologies is a leading IT Solutions Service which serves customers in North America, Europe, Asia and Australia. Their domain strengths have made them a preferred IT partner to over 220 clients in their kitty spanning across 16 countries in select verticals like Application Development and Maintenance, Enterprise Solutions, Travel and Transportation, Manufacturing/Distribution, and government sectors. |
Bhushan Steel Ltd. | 99 | 8326.7689519114 | Steel - CR/HR Strips | Bhushan Steel, (Bhushan Steel and Strips earlier) is a globally renowned company and one of the leading players in the Steel industry. Backed by more than two decades of experience in steel making, it is now India's third largest secondary steel producer company with an existing steel production capacity of two million tonnes per annum. |
Maharashtra Seamless Ltd. | 100 | 2666.163276 | Steel - Seamless Tubes | Maharashtra Seamless (MSL), a flagship of the D P Jindal Group is moving with a professional attitude and hard work at its core. MSL has grown up to 10 times in the last decade. It has evolved into a Rs 2368 crore Seamless Pipes Manufacturing Company by 2011-12 from Rs 105 crore in 1994-95. |