Others that made it to the list are Zoho Corporation, Swiggy, Intas Pharmaceuticals, Dream11, Parle, Zerodha
To qualify for inclusion in the ‘2023 Burgundy Private Hurun India 500’ list, companies are required to have a minimum value of Rs 6,700 crore, equivalent to US$807 million. The average age of the companies in Burgundy Private Hurun India 500 is 38. The total value of the 2023 Burgundy Private Hurun India 500 companies is Rs 231 trillion (US$2.8tn).
Top 10 of 2023 Burgundy Private Hurun India 500
Reliance Industries continues its reign in the top position for the third year in a row on the Burgundy Private Hurun India 500. With a value of Rs 15,64,663 crore, Reliance Industries is valued at least Rs 3 lakh crore more than TCS, which is number 2 on the list.
The merger of HDFC Ltd with HDFC Bank facilitated HDFC Bank to become the third Indian company to surpass Rs 10 trillion capitalization. HCL Technologies and Kotak Mahindra Bank make their return to the top 10 list.
Among emerging companies, the report showed that Suzlon Energy grew at the fastest pace. “Suzlon Energy, which registered a 436 per cent growth, dominates the list of fastest growing companies in 2023 followed by Jindal Stainless and JSW Infrastructure,” the report added. By absolute value, the biggest gainers were HDFC Bank, Larsen & Tourbo & ITC.
Additionally, Jio Financial Services secured a 28th rank, after demerging from Reliance Industries.
More than half of the companies in the list registered a value growth of more than Rs 1000 crore over the last year of which 75 companies registered a value growth of more than Rs 10,000 crore. For example, Megha Engineering (up by 150 percent), manufacturing services startup Zetwerk (up by 100 percent) and Bennet Coleman (up by 100 percent), led the value growth (in percent) amongst the unlisted companies in the list.
Financial Services and Healthcare sectors lead the pack with 76 and 58 companies respectively, closely followed by Consumer Goods, which boasts of 38 companies in the list.
The average age of the 2023 Burgundy Private Hurun India 500 is 38 years. 21 companies have a history of more than 100 years, of which EID-Parry (India) is more than 200 years old.
Amitabh Chaudhry, MD and CEO, Axis Bank said the companies featured in the list have collectively created a value of Rs 231 lakh crore for their stakeholders. About 52 firms in the list are less than a decade old. The eight companies in the Adani Group have a combined value of Rs 9.9 lakh crore and constitute 4.3% of the total value of 500 top companies.
During the review period, the value of the Adani Group companies decreased by 50 per cent or Rs 9,92,953 crore. However, since the Supreme court ruling (in favour of Adani Group) on the Adani-Hindenberg verdict, which fell beyond the review period, Adani Group regained Rs 4,72,636 crore in value, as on 17 January 2024.
Startups in the list cumulatively lost Rs 4 trillion, led by Byjus, Dealshare, and Pharmeasy; which failed to make it to the list this year.
First Published: Feb 13 2024 | 10:29 AM IST