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Fortune India 500 list 2019: Reliance Industries surpasses IOC to rank at no. 1

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On December 16, 2019 the Fortune magazine has released it annual Fortune India 500 list for the year 2019. Indian multinational conglomerate, Reliance Industries Limited (RIL) led by Mukesh Dhirubhai Ambani topped the list surpassing Indian Oil Corporation (IOC), which ranked as India’s largest company to top Fortune India 500 list for 10 years. RIL is also the 1st privately held company to become the largest corporation in India in 10 years. The ranking in brief are as follows:Reliance Industries tops Fortune India 500 listFortune 500 list:

i.Other top ranked organisations:

  • IOC ranked 2nd in the list. Oil and Natural Gas Corporation (ONGC) stood at the same 3rd place in 2019 as it was in 2018.  
  • ONGC was followed by State Bank of India(SBI), Tata Motors and Bharat Petroleum Corporation Limited(BPCL) in the 4th, 5th and 6th places respectively. All these companies retained their previous rankings.

ii.Top 10 rankings:

  • Rajesh Exports stood 7th in 2019, an improvement by 1 place than the previous ranking (8th in 2018).
  • Tata Steel, Coal India, Tata Consultancy Services(TCS) and Larsen & Toubro(L&T) were ranked 8th, 9th, 10th and 11th respectively. They all climbed one spot from the previous rankings.

iii.Revenue of RIL & IOC: 

  • Revenue by RIL: The revenue generated by RIL for the year 2018-19 was Rs 5.81 lakh crores. It was due to revenue rise of RIL by 41.5% in FY (financial year) 2018-19. RIL’s profit for 2018-19 was also more than double that of IOC at Rs 39,588 crore.
  • Revenue by IOC: IOC which ranks second on the list generated revenue of Rs 5.36 lakh crore FY 2018-19. The generated revenue was 8.4% less than that of RIL.

iv.Fortune 500 revenue, profit & loss:

  • Overall revenue and profit: The Overall revenue of Fortune India 500 companies in the 2019 list grew 9.53% and the overall profit grew by 11.8% than 2018.
  • Overall loss by companies:  The total loss posted by the 500 companies also came down, with 65 companies posting a cumulative loss of Rs 1.67 lakh crore, compared to last year’s Rs 2 lakh crore from just 79 companies.

v.Banking sector:

  • The banking sector, with 48 companies, was one of the biggest contributors by way of the number of companies on the list. Oil and gas companies, however, has the highest share of profit in the 500, at 23.44%.
  • Top ranked bank: State Bank of India(SBI) was the top ranked bank in the list with its ranking at 4th spot.
  • Loss by public sector bank: 14 out of 22 public sector banks(PSB) reported cumulative losses of Rs 74,253 crore.
  • Loss by private sector bank: Only two private sector banks posted losses. They were IDFC (Infrastructure Development Finance Company) First Bank, at Rs 1,907.9 crore loss and Lakshmi Vilas Bank (LVB)at Rs 894.1 crore loss.


Rank Company 
1Reliance Industries Limited(RIL)
2Indian Oil Corporation (IOC)
3Oil and Natural Gas Corporation(ONGC)
4State Bank of India

About Reliance Industries Limited(RIL):
Founded– 8 May 1973.
Headquarters- Mumbai, Maharashtra.
Founder- Dhirajlal Hirachand Ambani (known as Dhirubhai Ambani).
Chairman and Managing Director(MD)- Mukesh Ambani.