Cover Story

BT500: How India Inc. Braved the Headwinds in 2023

The current mood of the market is aptly reflected in the latest edition of the BT500 study, as the combined valuation of the Top 500 companies on the list has risen. but the gains have not been as spectacular as 2022, mirroring the sentiment of investors

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BT500 Rankings

* Average Market Cap for the period (October 2022 - September 2023) * Average Market Cap for the period (October 2021 - September 2022) * Average Market Cap for the period (October 2020 - September 2021) * Average Market Cap for the period (October 2019 - September 2020) * Average Market Cap for the period (October 2018 - September 2019)

BT500 Report Card

BT500 Report Card

Companies Comparison

Companies Comparison

BT Billionaires List

Names are representative as promoter holdings include shares of all the promoters held at the end of latest quarter. Value of total promoter holding is calculated by multiplying the number of shares by the market price on real time basis.

Note Names are representative as promoter holdings include shares of all the promoters. Value of total promoter holding is calculated by multiplying the number of shares of all the promoters by the market price. Data as of November 10, 2023; only companies that are part of the BT500 have been considered

*Figures calculated by multiplying the total number of shares held by promoters as of September 30, 2022 and market price on November 24, 2022

Articles

BT500 Wealth Creators Summit 2023

Articles

BT500: 'Tragic to see rural India is most under-financed,' says IDFC First Bank MD & CEO V Vaidyanathan

During the discussion on 'Financial Roadmap To $5 Trillion Economy', Vaidyanathan talked about changes in infrastructure financing, digital infrastructure, cyber risk, and the arrival of more NBFCs (Non-Banking Financial Companies).

Methodology

India's largest companies have been ranked based on real-time market capitalisation. For a deeper perspective, we have also provided total income, total assets, profit after tax (PAT), PAT margin (%), return on net worth (%) and return on capital employed (%) for the latest financial year or latest data available.

India's largest companies have been ranked based on market capitalisation by Business Today every year since 1992. This year's rankings are based on the average market capitalisation of the companies for the 12-month period from October 1, 2022 to September 30, 2023.

We began with a master sample of around 4,200 listed and actively traded companies. We have used the BSE market capitalisation for all cases, except companies that are listed only on the NSE. Some 332 companies that were not traded on at least 20 per cent of the 247 total trading days in the October 2022-September 2023 period were excluded from the list. Thereafter, we extracted the average (daily) market capitalisation of each company over the period under consideration and used it to rank the Top 1,000 companies.

For a deeper perspective, we have also provided the average market capitalisation over the past two fiscals (FY23 and FY22), return on net worth (RONW) and return on capital employed (ROCE), in the tables. We have also ranked companies by assets, profit after tax, total income and debt.

The methodology used to prepare the BT500 2022 list that ranks the top 500 listed firms in India by average market capitalisation

India's largest companies have been ranked based on market capitalisation by Business Today every year since 1992. This year's rankings are based on the average market capitalisation of the companies for the 12-month period from October 1, 2021 to September 30, 2022.

We began with a master sample of 4,271 listed and actively traded companies. We have used the BSE market capitalisation for all cases, except companies that are listed only on the NSE. Some 230 companies that were not traded on at least 20 per cent of the 249 total trading days in the October 2021-September 2022 period, were excluded from the list. Thereafter, we extracted the average (daily) market capitalisation of each company over the period under consideration and used it to rank the top 1,000 companies.

For a deeper perspective, we have also provided the average market capitalisation over the past two fiscals (FY22 and FY21), return on net worth (RONW) and return on capital employed (ROCE), in the tables. We have also ranked companies based on assets, profit after tax, total income and debt, and taken only consolidated numbers except in cases where companies don't report their consolidated results.

Data provider (ACE Equity) has not considered share of profit/loss of associates and joint ventures for calculating profit after tax wherever applicable.