Top 10 Companies in India are mostly concentrated in the Financial and Oil/Gas Sectors

India’s Fast Growing Economy is seeing substantial churn in the Top 10 Rankings for Companies.Coal India which recently did a successful IPO straightaway went from being a Government Owned Private Company to the Top 5 in Market Capitalization Rankings.The Top 10 Rankings are dominated by State Owned Companies known as PSUs in India.Despite Privatization in the 1990s,Government Companies Lead  the Rankings.Note the Top 10 Rankings don’t have any Private Companies because of the lack of good information about their Financials.Note Most of the Largest Companies in India are related to Banding and Oil/Gas as is the case worldwide.India’s Technology Companies like Infosys,TCS and others are still way behind in Revenues compared to the dominant Materials,Fossil Fuel,Industrial and Financial Sectors.However note that the diversity is much greater when you rank the companies by their market capitalization.TCS and Infosys are both amongst the top 5 recovering strongly in 2010 from their 2008 underperformance.You also see  a Capital Goods and Telecom Representation in this Top 10 Rankings

Top 10 Companies by Revenues

1) Indian Oil Corporation (IOCL) – This is  a government owned PSU in the Oil and Gas Distribution.It has Revenues of $48 Billion but Profits are Low as the Company has to bear the Subsidy Burden of Fossil Fuel Products.The Company is expected to come out with a Follow on Offering Soon.

2) Reliance Industries – The Flagship Company of the Ambanis and India’s largest Private Company Reliance Industries is also an Oil and Gas Giant .The Company has seen very sharp growth in the last decade and is diversifying into Retail.It has $29.5 Billinon in Revenues

3) Tata Steel – This is the only Materials Company in the Top 10 and is a part of the Tata Group.The Company has expanded globally with some top acquisitions like the Corus Group.Revenues of $28 Billion

4) BPCL – Like IOCL,this is  a government owned PSU in the Oil and Gas Distribution.It has Revenues of $28.8 Billion but Profits are Low as the Company has to bear the Subsidy Burden of Fossil Fuel Products.

5) HPCL -Like BPCL and IOCL,this is  a government owned PSU in the Oil and Gas Distribution.It has Revenues of $22 Billion but Profits are Low as the Company has to bear the Subsidy Burden of Fossil Fuel Products.

6) State Bank of India – SBI is India’s Largest Bank which is majority owned by the Government.The Company has a number of Subsidiaries and has been a market outperformer in recent times.Revenues of $22 Billion

7) ONGC – The Oil and Natural Gas Corporation is another Oil/Gas Company owned by the Government.It is more into upstream operations and is also globally expanding to meet India’s Voracious Energy Needs.The Company has revenues of $20 Billion

8)Tata Motors – The is another Tata Group Company and is the producer of the famous Nano $2500 Car.The Company vaulted in the big league by acquiring Jagaur Land Rover.Revenues of  $13.5 Billion

9) Hindalco Industries – Only Birla Group Company in the Top 10 is also the only Mining Company.Hindalco is primarly an Aluminium Producer and joined the big boys after acquiring Novelies

10) ICICI Bank – This is the largest Indian Private Bank with operations in all Financial Services Sectors.The Company has faced a bad time during the Lehman downturn but has recovered well.Revs of $12.5 Billion

Top 10 Companies by Market Capitalization

1) Reliance – Market Cap of $85 Billion

2) ONGC – Market Cap of $60 Billion

3) TCS – Another Tata Group Company,TCS has performed strongly in recent times almost doubling its share price and increased its market cap to $45 Billion.

4) SBI – Market Cap of $42 Billion.

5) Infosys– The Most Famous Technology Company is known for its very high corporate governance standards.It has the industry leading margins and has shown a strong growth rate over the past decade.Overcoming the outsourcing model will be a challenge for the future growth of this IT bellwether. Market Cap of $38 Billion

6) NTPC – This is India’s Largest Utility and is Government Owned.One of the best managed PSUs,it has strong growth plans given the huge power requirement of the country.Market Cap of $35 Billion

7) ICICI Bank – Market Cap of $30 Billion

8) ITC – This is one of India’s Largest Consumer Companies.Primarily a Tobacco Company partly owned by BAT,it has diversified into different sectors such as Hotels,Consumer Goods,Paper,Retail etc.One of the best plays into India’s Consumption Story.Market Cap of $29 Billion

9)L&T – This is India’s Largest Private Capital Goods Company which is Professionally Managed.The Company has benefited from India’s massive infrastructure investment in recent times and will continue to do so in the future as well.Market Cap of $27 Billion

10) Bharti Airtel – India’s Largest Telecom Company and 4th Largest in the World has taken a big hit in recent times with hypercompetition in the sector.Recently bought the African Operations of Zain.Market Cap of $26 Billion.

Note I have not listed Coal India which has a market cap of $45 Billion and would be around 3rd in the list because of its recent listing.The Market Capitalization is approximate and is calculated of today’s date.