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ET 500: ONGC Still Wears The Largest M-Cap
07 May, 2003

ET 500, which ranks companies by their market capitalisation, retained ONGC in the top spot with its Rs. 3,320-crore increase in market cap over the corresponding period last year.

As per the latest edition of ET 500 (The Economic Times 500 list of Indian corporates, ranked by their market capitalisation), ONGC retains its numero uno position with a Rs. 3,320 Crore increase in its market capitalisation between September 2002, when the list was last compiled, and now. As per the net profit yardstick also, ONGC remains at the top spot.

The rise in market capitalisation of ONGC, over the last six months, is equivalent to the total market capitalisation of the 48 lowest-ranked companies in the ET 500 list.

Courtesy its merger with Reliance Petroleum, Reliance has moved up two slots to the second spot, with a Rs.14,360 Crore jump in its market cap.

The FMCG giant, Hindustan Lever, which was de-throned by ONGC on the bourses last year, slipped to third spot from second, perhaps reflecting the dry run in the sector.

The other corporates to make it to the Top Ten of the latest edition of the ET 500 list are: Wipro (down one rank, compared to the last time), Infosys (same as last time), IndianOil (up one rank), State Bank of India (up one rank), ITC (down two ranks), Ranbaxy (up one rank) and Hindustan Petroleum (up one rank). The following table displays the Top Ten in the ET 500 by the latest overall rank:

In terms of Net Profit, ONGC takes the top spot again with a net profit of Rs. 8,496 Crore for the four trailing quarters viz., January – December, 2002, a 45 per cent increase since the last ET 500. The oil and gas sector continued to dominate this category by bagging 6 out of top 10 positions. The following table gives the Top Ten in the ET 500 by Net Profit:

With a sales figure of Rs. 28,678 Crore, ONGC is placed at # 6 in the ET 500 by Sales. The five companies in the list above ONGC are: IndianOil (Rs. 1,15,987 Crore, which is the lone Indian entrant in the Fortune 500 list), Hindustan Petroleum (Rs. 49,725 Crore), Bharat Petroleum (Rs. 44,931 Crore), Reliance Industries (Rs. 44,910 Crore) and State Bank of India (Rs. 30,720 Crore). Oil and gas companies are to the fore, once again, capturing 6 out of the top ten slots.


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