Friday, July 22, 2016

Four PSUs figure in Fortune 500 list; ONGC dethroned

THE latest Fortune 500 list, which counts world's biggest corporations in terms of revenue, has got the name of seven Indian companies in it including four PSUs. The list is topped by retail giant Walmart, with state-run Indian Oil Corp being ranked the highest-rated Indian firm (161). Other Indian firms in the list...
are State Bank of India, Bharat Petroleum and Hindustan Petroleum (BPCL) from the public sector, and Reliance Industries, Tata Motors and Rajesh Exports from the private sector.
State-run firm ONGC was included in the list last year but is out of the list for this year, while private gems and jewellery major Rajesh Exports has debuted in the list, grabbing the 423rd position.
Indian Oil is the highest-ranked Indian firm with revenue of $54.7 billion, it has slipped several ranks down from its 119th position last year. Similarly, Reliance Industries, the highest-ranked private firm from India, has also slipped down to 215th from last year's 158th.
Bharat Petroleum is ranked 358th. It was ranked 280th last year, Hindustan Petroleum is down at 367th from 327th.
Tata Motors and SBI, on the other hand, have improved their ranks in the list, grabbing the 226th (up from 254th last year) and 232nd ranks (up from 260th last year), respectively.
According to the methodology followed by Fortune, companies are ranked by total revenues for their respective fiscal years. Revenues are as reported, including revenues from discontinued operations when published. If a spin-off is on the list, it has not been included in discontinued operations. Revenues for commercial banks includes interest and noninterest revenues. Profits are shown after taxes, extraordinary credits or charges, cumulative effects of accounting changes, and non-controlling interests (including subsidiary preferred dividends), but before preferred dividends of the company.
The overall list was topped by Walmart with revenue of USD 482,130 million, followed by State Grid (revenue of USD 329,601 million) and China National Petroleum (USD 299,271 million) at the second and third place respectively.
Others in the global top 10 companies include Sinopec Group (4th, USD 294,344 million), Royal Dutch Shell (5th, USD 272,156 million), Exxon Mobil (6th, USD 246,204 million), Volkswagen (7th, USD 236,600 million), Toyota Motor (8th, USD 236,592 million), Apple (9th, USD 233,715 million) and BP (10th, USD 225,982 million).
The world's 500 largest companies generated USD 27.6 trillion in revenues and USD 1.5 trillion in profits in 2015, Fortune said. Together, this year's Fortune Global 500 companies employ 67 million people worldwide and are represented by 33 countries, Fortune noted.

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