The integration of European steelmaker Corus with Tata Steel has resulted in the latter emerging as India’s second-largest company in the private sector with consolidated revenues of over Rs 1,32,110 crore during the year ended March 31, 2008.
The company is now close to Reliance Industries (RIL), which continues to lead the India Inc revenue league table with FY08 consolidated revenues of Rs 1,37,147 crore.
Thanks to buoyancy in global steel prices, Tata Steel has also emerged as India’s second-most profitable company with a consolidated net profit of over Rs 12,350 crore during FY08.
RIL continues to top the charts with a reported PAT of nearly Rs 20,000 crore during FY08, though this included a one-time profit of around Rs 4,800 crore from the sale of a minority stake in Reliance Petroleum.
These two behemoths belonging to the country’s top two business houses are now more than double the size of the next company on the league table-Hindalco Industries.
India’s largest aluminium producer and the Aditya Birla Group flagship moved into the list of the top five private sector companies thanks to the acquisition of US-based Novelis. The US acquisition nearly trebled Hindalco’s consolidated revenues to Rs 60,668 crore in FY08. Giving it close company is ICICI Bank, which closed FY08 with consolidated revenues of Rs 60,053 crore.
Next in the ranking is Tata Motors, the nation’s largest truckmaker. The company reported consolidated revenues of Rs 36,121 crore during FY08. Including Tata Motors, the Tata Group now has two companies that rank among India’s top five firms in the private sector.
The league table is expected to change next year when Tata Motors starts consolidating the finances of Jaguar Land Rover, which it acquired earlier this year.
Courtesy :- Economic Times