TECHTORS
Product: COLLABERA
Company: COLLABERA
TECHNOLOGIES
Sector: INFORMATION
AND TECHNOLOGY
Leader: MEHUL SHAH
INTELLIGENT to grow across newer markets such as
AUTOMATION the Asia Pacific, Europe and the UK.
Eyeingmultiplemarketsandgrowingitspresencein Collabera came into existence in
New Jersey, USA in the mid-1990s,
India,Collaberahasearmarkedsomeaggressiveplans focussing on the US markets. The
founders, Hiten Patel, Sham Patel
fortheyearaheadByReshamSuhail and Hemin Shah, wanted to generate
employment opportunities in their
W ITH THE RISE IN DEMAND for digital technologies and digital motherland, Gujarat and established
talent to drive that technology, Collabera Technologies posi- their first global delivery centre out-
tioned itself as the end-to-end digital solutions provider. From side of the US. The entry into India
a business perspective, it is a digital engineering and talent was made to cater to the market op-
orchestration company that innovates at the intersection of portunities in the US market space.
technology and talent. Over the years, Collabera has grown
its suite of services to provide solutions to complex business A Wide Play
challenges in data engineering, platform engineering, cloud
engineering and intelligent automation. In the post-pandemic world, its engi- “Our greatest success has been built
neering solutions provide agility, scalability and flexibility. on hiring the right people and giving
them the freedom to explore and
Growing with Customers grow. The life cycle of talent from hire
to retire makes all the difference in
In the year ahead, Collabera Technologies intends to scale up its digital the success of the organisation,” says
engineering business. The focus remains on growing with customers across Mehul Shah, MD, Collabera Tech-
different industry segments such as BFSI, fintech, life sciences and healthcare, nologies.
retail and consumer goods, manufacturing and so on. The company also aims
Once Collabera realised the im-
mense potential of the Indian mar-
ket, it upped the focus on developing
the market further. Positive out-
comes strengthened its belief in pur-
suing business opportunities across
international markets. Collabera is
now established in four continents
with over 60 offices and over 17,000
employees worldwide.
The company is a profitable, debt-
free and cash-generating business
which has not received any external
funding but is closely held by the
founder and a few key management
personnel.
52 | BW BUSINESSWORLD | 04 June 2022
TECHTORS
UPPING THE Staying the Course
IMMERSIVE GAME
In the coming year, WinZo will con-
Makingmicro-transactionspartofitsmonetisation tinue to work towards maintaining
mechanism,WinZohasbecomeoneof theimportant product excellence, onboarding
playersintheIndiangamingsectorByReshamSuhail more titles, and experimenting
with multiple game formats. “From
a long-term perspective, we intend
to become a household name and
create noticeable equity for game
tech companies backed by strong
technology,” the company’s CEO
reiterates. The gaming startup
is a series C funded venture that
is backed by global gaming and
entertainment investment funds
such as Griffin Gaming Partners,
Maker’s Fund, Courtside Ventures,
Pags Group and Kalaari. So far, it
has raised total equity capital of
$100 million.
Product: WINZO GAMES
Company: WINZO
Sector: INTERACTIVE
ENTERTAINMENT
Leader: PAAVAN NANDA
L AUNCHED IN EARLY 2018, WinZo provides a platform for third-par- For Bharat
ty game developers to host their games and earn up to 100 times
revenues when compared with conventional revenue models such To ensure its offer caters to India,
as in-app purchases and ads. “The majority of our users hail from WinZo is available in 12 languages
Tier-II to Tier-V regions today. We believe in delivering person- such as English, Hindi, Gujarati,
alised winning experiences and have successfully done so for over 8 Marathi, Bengali and Bhojpuri,
crore Indians,” says Paavan Nanda, CEO, WinZo. with over 80 million registered
Seen among the few that have constantly pushed the envelope further, users. The platform facilitates over
and set the tone for the Indian gaming sector, WinZo has over the past three 2.5 billion micro-transactions per
years successfully created immersive social interactive experiences and an month across a portfolio of over
ecosystem that is complete in many ways. Nanda believes this holistic offer 100 games available in more than
can bring people under the digital grid, from across geographies. six formats. The company envi-
sions a future where the platform
can deliver a culturally relevant
and enjoyable experience in the
Indian gaming ecosystem, through
a unique micro-transaction led
monetisation model, which is where
WinZo’s USP also lies.
04 June 2022 | BW BUSINESSWORLD | 53
TECHTORS
A CROSS BORDER What are your goals for 2022, and
FINANCIAL WORLD anything on funding plans?
We closed our seed round at $15 mil-
Raghunandan lion secured from Accel, Lightspeed,
G,Founder Founder Collective, Blume Ventures
andCEOofthe and a host of other angel investors. In
companytalks Series A round, we successfully bagged
abouthow $40 million from DST Global, Tiger
thecompany Global, Alkeon Capital along with par-
cametobe, ticipation from existing investors.
industrytrends
andgrowth Going forward, Zolve expects to pro-
driversBy gress into a full-stack financial services
Resham Suhail platform that can help customers with
seamless cross-border remittances,
managing trading accounts, loans
and insurances, among others across
continents.
Product: ZOLVE
Company: ZOLVE
INNOVATIONS
Leader: RAGHUNANDAN G
Sector: FINTECH
Q&A As an entrepreneur, your message
for emerging tech startups?
India’s fintech space is really crowded. How does Zolve Innovations differ- The overall fintech market opportu-
entiate itself from its competition? nity for India alone is estimated to be
Zolve is a cross border fintech that enables fair access to global financial products. about $1.3 trillion by 2025, growing at
It is a neo-bank setup that works beyond borders and understands the needs of a CAGR of 31 per cent during the 2021-
global citizens. 25 period.
It underwrites the risks, which has enabled banks in foreign countries to extend This market valuation is backed by
their services to Zolve customers. noteworthy innovations in technology,
increasing internet penetration, and
What are some of the major challenges that you believe strengthened your digitalisation.
business in the long run?
The most recent will have to be the pandemic. At the onset of the global outbreak, Despite the positive big picture, fac-
uncertainty loomed over but we strived to help out students as much as we could, ing constant critique is something that
especially in the initial testing time. That being said, understanding and being able every entrepreneur will face at the start
to utilise consumer connect in building products are two major challenges that of any venture.
persist and must never be neglected.
Embrace ambiguity. The mark of
a deep-rooted leader is the ability to
say ‘no’. This journey requires tremen-
dous discipline, and perseverance is
paramount.
54 | BW BUSINESSWORLD | 04 June 2022
TECHTORS
THE REAL-TIME
FINTECH FERVOUR
PerfiosacquiredFintechLabsand
Karzatoaccelerategrowthandwiththe
acquisitions,itscustomersnowdealwitha
singletrustedentityByReshamSuhail
P Product: PERFIOS CAM AND
FRAUD ANALYTICS
Company: PERFIOS
Sector: BFSI
ERFIOS SOFTWARE SOLUTIONS is a SaaS-based product tech- Leader: V. R. GOVINDARAJAN
nology company that specialises in real-time credit analysis
and decisioning in its chosen domain. Earlier, the startup was
a business to consumer data platform that provided aggregation services “The road to being a unicorn
for personal financial management (PFM) use cases. The Co-founders, V.R. may fill one up with an adrenaline
Govindarajan and Debashish Chakraborty decided in 2012 to pivot and rush, but repeatable and extensible
approach businesses rather than consumers directly. They extended the success for a long period comes
platform to address real-time credit decisioning which was a novel concept to those who can create the right
at that point in time. With the rapid growth of the fintech market and the balance between workhorses and
government and regulators’ push for digital solutions, Perfios’ bet on an racehorses,” states Govindarajan,
extensible platform offering real-time credit decisioning proved to pay the Co-founder and CEO of the
dividends. company, as he emphasises the
Growth and Growth importance of never-fading passion
for an entrepreneur. The company
At the heart of it, Perfios leverages its artificial intelligence and machine has continued its expansion drive.
learning-based algorithms to extract, curate, cleanse, transform and After acquiring Fintech Labs and
analyse disparate data sources. Over the last 14 years, it has aimed to be a Karza, it is now present in over 18
data platform provider that can cater to industry-agnostic domain inten- countries in the Southeast Asia,
sive solutions. In 2017, Perfios raised $6.1 million in its Series A round led Middle East, Africa, and Europe.
by Bessemer Venture Partners. In 2019, it raised another $50 million in The brand has also seen a broaden-
its Series B round, this time led by Warburg Pincus and Bessemer Venture ing of the ecosystem in the crypto
Partners. In the latest round of funding received in February 2022, Perfios space with new technological
raised $70 million from existing investors, Warburg Pincus and Bessemer developments being deployed in
Venture Partners. real-world use cases.
04 June 2022 | BW BUSINESSWORLD | 55
TECHTORS
Q&A We have raised $2.5 million till now,
and the revenue is growing 30 per cent
“BY YOURSELF, month-on-month.
BETTER YOURSELF”
The EV sector in India is seeing
Everyentrepreneurhasadifferentstory, changes all the time. How do you see
saysVarunGoenka,theCo-founderandCEO the road ahead?
ofChargeupinthisconversationwithBW There is constant advancement in bat-
BusinessworldByTeamBW tery and charging technology globally
and in India but it really is the advance-
ment in IT and analytics that is driving
the EV sector’s growth.
In the time ahead, these changes will
make rides even safer and optimise the
value chain to reduce the TCO. This
opens up opportunities for all stake-
holders in the ecosystem.
Chargeup is three years old now. What have been some high- Please share more on some of the
lights since its launch? challenges you have faced, that you
Chargeup was formed in 2019 offering battery as a service to im- believe eventually added value to
pact the lives of 2.4 million e-rickshaws. In our journey, we have your overall business and have a
created a new category of FI-NE-Tech, where we reduce the total role to play in your expansion and
cost of ownership (TCO) of vehicles for the drivers, enabling faster growth strategy.
adoption of electric vehicles (EVs). We are an asset-light and opera- The challenges are similar for most
tional light business, where we neither buy the batteries nor build players in the sector at the moment.
and operate the swap stations. Top of the list is how we can convert
capital expenditure to operating ex-
Product: BATTERY AS A penditure for batteries. Trying to find
SERVICE a solution for this helped us to create
Company: CHARGEUP this new category of FI-NE-Tech that
Leader: VARUN GOENKA I mentioned earlier.
Sector: ELECTRIC
MOBILITY We have in fact been able to reduce
the vehicle TCO by 50 per cent, which
is a very encouraging number. Our
growth is going to also be more geo-
graphic or about increasing the foot-
print.
We are adding one station per day
and have covered 44 out of the 97 pin
codes in Delhi apart from the NCR.
We will now expand to three new
cities and the plan is to do so with a
dense network like a 7-Eleven, for
example.
As for growth, every entrepreneur
faces their own unique challenges.
The only way to grow is to by yourself,
better yourself.
56 | BW BUSINESSWORLD | 04 June 2022
6th
IN CONVERSATION
“More Can schemes, the government has already taken several ini-
Be Done To
Reduce Cost tiatives to show what we can do. Add to that steps taken
Of Doing to improve the ‘ease of doing business’ parameters. At
Business”
CII we are working on creating an index or scores for
How would you sum up the mood of the Indian in-
dustry today? states. I will be in Davos next week and we have four-five
Over the last two years we did see some amount of un-
certainty. But now we are in a situation where there is states there looking to attract investments etc. Around
some light at the end of the tunnel. There is a high level
of positivity for the coming years. Unfortunately, the war 10-12 years ago, possibly one state used to go out for such
(Russia-Ukraine) has been a spoilsport. It has caused
economic disruptions. But India is primed for the next initiatives.
level of growth.
We are at the cusp of a super cycle that will last for next
In the past 4-5 years we did not see any large capex
cycle for a variety of reasons. We are starting to see that 20-25 years. Look at China. Their society is beginning
now. Take sectors like metals, real estate, housing, trans-
portation, among others. The investments have already to age now. Plus because of high growth in the past two
started. More investments will come in the next couple
of quarters. decades people have become richer. The labour costs are
So a little bit of dark clouds will be there but once they going up there. So India is now getting ready to play that
clear out, more investments will follow. Already, the
capacity utilisation is up to 70 per cent. These are all role for the world. But
positive indicators.
SanjivBajaj,the we have to take more
Why is CII bullish on the India growth story? newPresident measures to capitalise
Because of the changing geopolitical dynamics, India is ofthe on this window of op-
at a much better place than before. The world is looking Confederation portunity. Else, other
at India to become a manufacturing hub for them. It is ofIndian countries, smaller coun-
because in India there is secure sourcing, safe sourc- Industry(CII),theapex tries can take that leap
ing and competitive sourcing as well. Through the PLI industrylobby,saysIndia and move ahead.
willhavetocounterglobal
We believe employ-
headwindsandinflation ment-linked incentive
schemes for select ser-
vices sectors which have
withrobustpolicyreforms high growth potential
tounlockthegrowth can generate jobs and
potentialofitseconomy. can earn foreign ex-
HetellsASHISHSINHAof change. To start with
BWBusinessworldwhy ELIs could cover Tour-
ism, Logistics, Retail
CIIisbullishonthe
and Film, Animation &
economyandhowIndia Gaming.
cangrowatahealthyrate. Manufacturing and
services are the engine
Excerpt:
driver for the econo-
my. What more can be done to invite international
players to set up manufacturing plants in India?
A lot of CII suggestions made in the last two-three years
have been adopted. The PLI scheme, for example, is a
CII suggestion. We at CII have gone through at least two
cycles of suggestions and recommendations on rules,
laws and norms that need to be changed, modified or
done away with. The government is working on these
quite aggressively.
More can be done like reducing the cost of doing busi-
ness (CoDB); further improving ease of doing business
(EoDB); decriminalising the businesses facing laws and
de-clogging the judicial system. It is very important for
the companies to know that courts are available not only
for providing justice but in a time-bound manner. These
58 | BW BUSINESSWORLD | 04 June 2022
steps are necessary to further strengthen the business Which are the CII initiatives currently underway and
and investment climate in India. expected to be finished this year?
CII has planned several new initiatives in the current
Can you clarify the recommendation for setting a GST year including setting up centres on some important
council type body for consensus building on reforms themes for the economy. These include ‘CII Centre for
such as land, labour, power and agriculture? Will Risk Surveillance’ to monitor and forecast impact of
industry get a representation on such a council? future waves of pandemic, thus enabling preparedness
From the regulatory perspective, there will be govern- and resilience in growth; ‘CII Incubation Centre’ at Hy-
ments both at the Centre and in states that can come derabad which will organise startup accelerator pro-
together and discuss issues that impact everyone. In- grammes in partnership with corporates — CII has 300
dustry bodies are always working closely with the state corporate mentors to support its Corporate Mentorship
governments and the central government. Programme for Startups; ‘CII Centre of Excellence on
We will do our bit but a focused approach between the Design and Intellectual Property Rights’, with a vision to
governments will help. develop India into a hub for IP driven industries.
CII will skill 1.5 lakh people this year and
Look at China. Their society is beginning help with their placements.
to age now. Plus because of high growth We are also coming out with a ‘Cost of
Doing Business’ for the states this year it-
in the past two decades people have be- self. CII will also be setting up four labour
come richer. The labour costs are going facilitation centres across four cities.
up there. So India is now getting ready to [email protected]; @
play that role for the world Ashish _ BW
04 June 2022 | BW BUSINESSWORLD | 59
E S S AY MOST RESPECTED COMPANIES
EARNING
RESPECT
Respect is earned bit by bit and on the basis of actions
taken across different spheres. For companies, it is
based on an unblemished record over a number of years
ABY ASHISH SINHA
S companies evolve so does
the work culture. We see that
companies that score high on
the respect index are those that
have kept their core values in-
tact through turbulent times.
The 2022 edition of the BW
Businessworld Most Respected
Companies (MRC) survey was conducted by our knowl-
edge partner TechSci Research, against the backdrop of
the disruptions in economic activities caused by the re-
strictions and lockdowns that were imposed to contain
the coronavirus pandemic.
The survey is perception-based and evaluates compa-
nies on parameters such as corporate social responsibil-
ity, women friendly policies, a rewarding work culture,
effective growth plan and financial returns. The study
maps the current perception levels in the minds of
employees and self-employed individuals in India. In all,
21 sectors were identified and the survey was conducted
using 575 respondents including senior and mid-level
employees.
Overall, Tata Consultancy Services emerged at the
top of the Most Respected Companies list based on the
chosen parameters, followed by Google India, HDFC
60 | BW BUSINESSWORLD | 04 June 2022
Photograph by Unsplash Bank, Hindustan Unilever and Amazon India. These
companies ended up as the Top 5 in the Most Respected
Companies rankings based on the specific survey
parameters. Financial performance; work culture;
focus on developing and adopting new technologies and
corporate governance were considered to be the critical
parameters. Besides, women friendly policies, prevail-
ing policy framework and the companies’ focus towards
CSR activities were also factored in while finalising the
survey results.
While TCS tops the MRC list for FY21, in the last MRC
rankings published in early 2020 (for FY19), the ITeS
behemoth was ranked second. It gained the top spot rid-
ing on high scores across parameters such as Effective
Growth Plan, Financial Return, Trustworthy Leader-
ship, Embracing Latest Technology, Woman Friendly
Policies, CSR and Work Culture. Of course, the period
under review was pandemic-affected, which brought
in its own set of challenges for TCS, as it did for other
companies.
“Despite a sharp fall in revenues in the first quarter,
progressively strengthening demand for our services
helped us stage a swift recovery during the rest of the
year, helping clock full year revenues of Rs 164,177 crore
in FY 2021, growing 4.6 per cent over the prior year in
04 June 2022 | BW BUSINESSWORLD | 61
MOST RESPECTED COMPANIES
E S S AY reported terms, and degrowing by 0.8 per cent in con- on financial return, effective growth plan and corpo-
stant currency terms,” said Rajesh Gopinathan, Chief rate social responsibility because even after pandemic,
Executive Officer and Managing Director, TCS. companies were able to achieve profit and they helped
the society by indulging in various CSR activities in
Google India is ranked second in the list this year. As difficult times. The survey results show the level of trust
of April 2022, it was maintaining a 98.71 per cent mar- and confidence people have in leading corporations
ket share in the search engine business. The majority of operating in India.”
Google’s revenues are generated through advertising.
At least 467 million people in India regularly access The entire exercise was divided into four stages. The
YouTube. framing of questionnaires was an elaborate process that
included going into details specific to the companies
According to Karan Chechi, Research Director, and sectors,translation of the questionnaire in relevant
TechSci Research: “The survey was aimed at identify- languages to elicit effective response from all the sectors,
ing the most respected companies in 2022 based on etc. Each of the parameters decided were mapped on a
the people’s perception across various sectors in India. 5-point scale. In the last stage, weightages were assigned
Major rating parameter of the survey include financial against the eight parameters and a score was calculated
health, work culture, corporate governance and CSR for ranking the most respected companies.
activities. In the parameters, the research focused more
METHODOLOGY
How We
Measured
Respect
The 2022 edition of the Cs, Oil & Gas, Pharmaceuticals, The questionnaire was designed
BW Businessworld Most Real Estate, Retail, Technology to gauge the respondents’ percep-
Respected Companies and Telecom (service providers). tion based on the following eight
survey was conducted parameters – effective growth
by TechSci Research. TechSci iden- The entire exercise conducted plan, financial return, innovative
tified 21 sectors and conducted in four stages, began with framing product/services, trustworthy
research across 575 respondents the questionnaires, followed by re- leadership, embracing latest tech-
including senior and mid-level spondent identification, data col- nologies, corporate social respon-
employees. lection and finally analysis of the sibility, women friendly policies
data. The framing of the question- and work culture.
The sectors covered included naires was an elaborate process
Apparel/ Textiles, Automobile, that included going into the details The respondents from 150+ com-
Banking, Cement Manufacturers, specific to the companies and panies were identified based on
Chemicals & Paints, Consumer sectors, creation of an algorithm their age and work experience. The
Products, Ecommerce, FMCG, of questions to give a scientific largest pool of 235 respondents
Handset Manufacturers, Health- perspective to the questionnaire, were those with more than eight
care, Hospitality, Infrastructure translation of the questionnaire in years work experience and were
(Power, Heavy Engineering), IT/ relevant languages to elicit effec- aged 35 and above. The next lot of
ITES, Metals and Minerals, NBF- tive response from all the sectors. 187 respondents had 4-7 years of
62 | BW BUSINESSWORLD | 04 June 2022
WINNERS
MRC Rank Sector Companies Average Score work experience and were in the
2022 3.08 28-35 age group. The smallest lot
Tata of 153 were self-employed indi-
IT/ITES Consultancy 3.04 viduals of age 30 and above. The
1 Services 3.03 database was created targeting
Google India 3.00 employment hubs including Noida,
2 Technology Delhi, Gurgaon, Mumbai, Pune,
3 Banking HDFC Bank 2.98 Hyderabad, Bangalore, Kolkata
4 FMCG and Chennai.
Hindustan
5 E-Commerce Unilever The data was collected from
employees through interviews on
Amazon phone calls, links sent through
(India) email and LinkedIn. Automated
validation checks enabled data
6 Oil & Gas/ Diversified 2.97 hygiene, followed by stringent
quality checks on the data files.
Reliance About 12-15 industry employees
and 10-12 non-industry employees
Industries were selected from each sector to
map the perception straight from
7 IT/ITES Infosys 2.96 the stakeholders as well as from
the outsiders.
8 Banking State Bank 2.94
In addition, 20-25 respondents
of India from each industry were identified
and asked to rate top three com-
9 Consumer Sony India 2.93 panies from their domain. Fi-
nally, each of the parameters were
Products mapped on a 5-point scale but Fi-
nancial Return, Effective Growth
10 NBFC HDFC Life 2.91 Plan and CSR were given relatively
Insurance higher weightage because in dif-
ficult times due to Covid-19, very
11 IT/ITES Wipro 2.90 few companies were able to achieve
significant increase in revenues
12 Handset Apple India 2.88 and profit and gave back to the so-
ciety through their CSR activities.
Manufacturers In the last stage, weightages were
assigned against the eight param-
13 Infrastructure Tata Power 2.82 eters and an average score was
calculated for ranking the Most
Company Respected Companies.
14 Infrastructure NTPC 2.78 All the companies ranked by
MRC survey deserve our heartiest
15 Chemical & Asian 2.77 congratulations for holding on to
their core values under difficult cir-
Paints Paints cumstances, as well as best wishes
for their future endeavours.
16 IT/ITES HCL 2.75
Technologies Ashish.sinha@businessworld.
in;
17 Pharmaceuticals Sun 2.71
Knowledge Partner: TechSci Re-
Pharmaceutical search
Industries
18 Oil & Gas Hindustan 2.68
Petroleum
Corporation
19 E-Commerce Flipkart India 2.68
20 Banking HSBC India 2.64
Source: TechSci Research Perception Survey
04 June 2022 | BW BUSINESSWORLD | 63
I T/ I Te S -MOST RESPECTED COMPANIES RANK 1 TataConsultancyServices
BUILDING
TCS rides to the
top on the back
ON BELIEFofaneffective
growth plan,
a trustworthy
leadership,
woman friendly
policies, CSR and
a healthy work
culture
T Photograph by Umesh Goswami
ATA CONSULTANCY SERVICES
(TCS) IS SHINING BRIGHT SITTING
AT THE TOP OF THE LIST OF MOST
RESPECTED COMPANIES (MRC) FOR
FY21, A PERCEPTION-BASED STUDY
CONDUCTED BY KNOWLEDGE PART-
NER TECHSCI RESEARCH. IN THE
LAST MRC RANKINGS PUBLISHED
IN EARLY 2020 (FOR FY19 PERIOD),
TCS WAS RANKED SECOND.
64 | BW BUSINESSWORLD | 04 June 2022
MD & CEO Overall Avg. Score Revenue
RajeshGopinathan 3.08 Rs 1,67,311 crore
It gained the top spot riding on high scores across categories like ‘effec- dential Financial Inc. It helped
strengthen the company’s Germany
tive growth plan’, ‘financial return’, ‘trustworthy leadership’, ‘embracing presence and establish a strong
local presence in Ireland. The order
latest technology’, ‘woman friendly policies’, ‘CSR’ and ‘work culture’. book signed every quarter was
higher than that in the previous
Of course, the period under review was pandemic-stricken which year, the company said. The full
year order book was $31.6 billion,
brought its own set of challenges for TCS like every other company. “Despite the highest ever for TCS, represent-
ing a growth of 17.1 per cent over the
a sharp fall in revenues in the first quarter, progressively strengthening de- previous year. TCS is a part of the
Tata group, India’s largest multina-
mand for our services helped us stage a swift recovery during the rest of the tional business group. TCS has over
488,000 of the world’s best-trained
year, helping clock full-year revenues of consultants in 46 countries.
Rs 1,64,177 crore in FY2021, growing 4.6 The company generated con-
solidated revenues of $22.2 billion
per cent over the prior year in reported The company in the fiscal year ended March 31,
terms, and degrowing 0.8 per cent in launched the TCS 2021.
constant currency terms,” said Rajesh
Gopinathan, Chief Executive Officer Covid-19 testing
and Managing Director, TCS.
He further explained: “In the early andvaccine man-
months of the pandemic, when the agementsuite of
worldwide lockdown disrupted econom-
ic activity across virtually all sectors, modular, easy-to- Highlights of FY21
your company responded with speed deploy solutions
and agility, embracing a new operating
model, Secure Borderless Workspaces that leverage AI, TCS was adjudicated ‘Leader of the
(SBWS™). Working remotely, our teams
helped customers maintain business robotics, blockchain Year’ in Application Services and in
continuity during peak disruption, and andthe Internetof Life Sciences, and ‘Star Performer’
thereafter, to accelerate their growth
of the year in Healthcare. The com-
and transformation (G&T).” Things to stream- pany launched the TCS Covid-19
Healthy Operating Margin line every stage of testing and vaccine management
suite of modular, easy-to-deploy
“The dedication shown by TCSers, our the end-to-end solutions that leverage AI, robot-
agility and our innovation, won us much testing andvacci-
appreciation from our customers, and ics, blockchain and the Internet of
Things (IoT) to streamline every
incremental business,” said Gopinathan nation journeys stage of the end-to-end testing and
in his letter to the shareholders. In FY21,
vaccination journeys, enabling
TCS said its Life Sciences and Health- more individuals to get tested and
care business grew 17.1 per cent. The vaccinated faster and return to
other two verticals were Banking, Financial Services and Insurance which normal life experiences.
grew 2.4 per cent and Technology and Services which grew 0.2 per cent. The company also completed
The operating margin for TCS continued to be industry-leading at 25.9 per the third successful share buyback
cent, an expansion of 1.3 per cent over the previous year. Net profit stood Rs in four years, to the tune of Rs
33,388 crore, a net margin of 20.3 per cent, it said. 16,000 crore at Rs 3,000 per share,
“Our cash conversion continued to be very strong, with a cash conversion through the tender offer route, ex-
ratio of 116.2 per cent and free cash flow of Rs 35,663 crore, growing 21.8 tinguishing 5.3 crore equity shares,
per cent over the prior year,” said Gopinathan. representing about 1.42 per cent of
TCS had two large deal wins in FY21—with Deutsche Bank and Pru- the total equity. — Team BW
04 June 2022 | BW BUSINESSWORLD | 65
TECHNOLOGY -MOST RESPECTED COMPANIES RANK 2 GoogleIndia
KING OF
Google India’s
INTERNETexcellentratings
in terms of work
culture and
innovativeproducts
and services have
stood it in good
stead
G
OOGLE IN INDIA HAS BEEN GROW-
ING STRONGLY, ADDING MILLIONS
OF SUBSCRIBERS EVERY MONTH
ACROSS ITS VARIOUS PLATFORMS.
It’s no big secret that Google
has dominated the search engine
market, and continues to do so. As
of April 2022, it was maintaining
a market share of 98.71 per cent in
the search engine business. The
majority of Google’s revenue is gen-
66 | BW BUSINESSWORLD | 04 June 2022
CountryHead&VP OverallAvg.Score Revenue (India)*
Sanjay Gupta 3.04 Rs 6,386 crore
* Media reports
erated through advertising. At least 467 million people in India regularly year ended March 31, 2021 com-
access YouTube. Also, YouTube, Chrome, Gmail, Search, and Google Play,
Google Maps have crossed over 2 billion monthly users. YouTube alone has pared to the previous year, accord-
2 billion-plus users worldwide of which more than 16 per cent are active in
India alone. ing to media reports. The com-
pany’s India revenue also witnessed
a 14 per cent increase to Rs 6,386
Google’s Test Ground crore compared to the previous fi-
nancial year. Google India primar-
According to Alphabet and Google CEO ily earns revenue through IT and
Sundar Pichai, viewers are watching At least467 mil- IT-enabled services to the parent
more than 700 million hours of You-
entity’s global businesses and as a
Tube content on television every day. In lion people in India reseller for Google Adwords, the
February, Google announced a $1 billion regularly access
investment in Airtel. reports said.
The company’s Android operat-
In 2021, the company had announced YouTube. Also, ing system for smartphones has
the $10 billion Google for India Digiti- YouTube, Chrome,
sation Fund and invested $4.5 billion more than 90 per cent market
share. Its video sharing platform
in Reliance Jio Platforms. In February, Gmail, Search, YouTube had over 400 million us-
Pichai said that for developing other and Google Play,
businesses like YouTube, Google was us- ers in the country as on March 31,
2021.
ing its user base in India. Google Mapshave Google Payments India reported
“You may see us take first stride in In- crossed over2 bil-
a 210 per cent increase in profit to
dia because we can get quicker feedback,
Rs 1.4 crore on revenues of Rs 14.8
very dynamic youthful population. And lion monthly users. crore for the reported year, the
so we’ll do it there and then roll it out YouTube alone has
globally. So we are constantly looking for media reports had said.
The year 2019 was an exceptional
opportunities like that,” he said. 2 billion-plus users one for Google India because of
Therefore, for a variety of reasons, worldwide of which
change of guard at the top. Rajan
Google India has come on top and
Anandan, Managing Director for
ranked second in the list for the ‘Most over 16 per centare India moved out after a long stint
Respected Companies’, a prestigious active in Indiaalone
perception-based annual ranking of and the company appointed Sanjay
Gupta as the country manager for
companies by BW Businessworld. With India.
an average ratings of 3.04 (just 0.04 Since then, Google’s India busi-
points behind TCS) Google India has scored more on parameters like ‘work ness has been in an upswing inspite
culture’ and on ‘innovative products and services’. of the pandemic that dented most
Google, which is owned by Alphabet, also owns both Google Search and businesses and the economic activi-
Google Chrome along with Google Maps, Google Drive, Google+, Android, ties in 2020-21 and 2021-22.
Gmail and many other products. Like in each of the previous
The magnitude, size and penetration of Google products in our everyday years, India continues to see a huge
lives or its significance cannot be quantified simply because it is a part of growth in voice search. Of course,
most Indians that are connected to the Internet. it continues to invest big to support
Surging India Profits the current and future development
Google saw its India profits grow almost 38 per cent to Rs 808 crore for the in India. — Team BW
04 June 2022 | BW BUSINESSWORLD | 67
BANKING -MOST RESPECTED COMPANIES RANK 3 HDFCBank
A CUT ABOVE
HDFC Bank stands
tall by virtue of its
THE RESTworkphilosophy
that is characterised
by good corporate
governance,
responsible
leadership and belief
in shared prosperity
B
UOYED BY HIGH SCORES FOR ITS
WORK CULTURE, TRUSTWORTHY
LEADERSHIP AND SUSTAINED
GROWTH, HDFC BANK, THE LARGEST
PRIVATE SECTOR BANK (BY BALANCE
SHEET SIZE) IN INDIA, JUMPED TWO
PLACES TO SIT PRETTY AT THE THIRD
POSITION IN THE BW BUSINESS-
WORLD MOST RESPECTED COMPA-
NIES (MRC) RANKINGS FOR FY21. IN
THE PREVIOUS MRC RANKINGS OF
68 | BW BUSINESSWORLD | 04 June 2022
MD & CEO Overall Avg. Score Revenue
SasidharJagdishan 3.03 Rs 1,55,855 crore
FY19, IT WAS RANKED FIFTH. Our iconic ex-Managing Director,
Aditya Puri created an institu-
In its latest annual report, HDFC Bank rightly sums up the reason for tion with strong foundation and
fundamentals. It is a huge advan-
being a successful and trustworthy business. It says, “At HDFC Bank, good tage as well as a privilege to inherit
and build upon this. Thanks to his
corporate governance is at the heart of responsible leadership, enabling us leadership, we today have a strong
balance sheet with among the low-
to inspire trust among stakeholders while fulfilling aspirations of custom- est NPAs in the banking industry
and strong capitalisation. This has
ers through good times and tough.” helped us to lend even during dif-
ficult times, build market leader-
It goes on to add that the business is guided by the belief in “shared pros- ship and deliver shareholder value
without compromising on our com-
perity”. mitment to society and the envi-
ronment,” said Sasidhar Jagdishan,
“We leverage balance sheet strength MD and CEO in his message to the
shareholders.
with an unwavering focus on asset quality “At HDFC Bank,
to deliver sustained growth while making good corporate With an employee strength of
a meaningful difference to the lives we 1,20,093, HDFC Bank aspires to be
the employer of choice. It promotes
touch,” it says. governance is at an inclusive and meritocratic
culture that ensures engagement,
Stellar Financial Performance the heart of progress and care. “We have also
been certified as a ‘Great Place to
The financial parameters reported by the responsible Work’ for 2020,” Jagdishan said.
bank for FY21 are testament to its work leadership,
philosophy and belief. The net profit for Jagdishan underlined the ‘clearly
identified’ growth engines. These
the year ended March 31, 2021 jumped enabling us to in- are corporate banking, commercial
18.5 per cent to Rs 31,116.5 crore compared spire trust among banking (MSME) and rural, govern-
to the previous closing of March 31, 2020. ment and institutional banking,
private banking, retail assets and
The consolidated net profit was Rs 31,833 stakeholders payments. These, the CEO said, need
crore, up 16.8 per cent over the previous while fulfilling to be driven by the delivery channels
fiscal year. of branch banking, tele-sales/ service/
relationship and digital marketing.
The full year income (consolidated) in aspirations
2020-21 increased to Rs 155,885 crore of customers “These growth engines would
from Rs 147,068 crore in the preceding be powered by our robust technol-
ogy and digital platforms. These
year. through good growth engines will account for the
On the asset front, the bank’s gross times and tough” bulk of our future investments and
can be broadly classified as busi-
non-performing assets as of March 31, ness verticals and delivery chan-
nels,” Jagdishan said. —Team BW
2021 stood at 1.32 per cent of the gross
advances, slightly up from 1.26 per cent in
the year ago period. In absolute value, the
gross advances were worth Rs 15,086 crore at the end of FY21, down from
Rs 12,649.97 crore. Net NPAs were 0.40 per cent (Rs 4,554 crore) as against
0.36 per cent (Rs 3,542 crore).
The total balance sheet size as of March 31, 2021 was Rs 17,46,871 crore
as against Rs 15,30,511 crore as of March 31, 2020, a growth of 14.1 per
cent. CASA deposits for HDFC Bank grew 27 per cent with savings account
deposits at Rs 4,03,500 crore and current account deposits at Rs 2,12,182
crore.
Strong Legacy
“One of our biggest strengths has been the legacy of over a quarter century.
04 June 2022 | BW BUSINESSWORLD | 69
FMCG -MOST RESPECTED COMPANIES RANK 4 HindustanUnilever
CREATING
The HUL brand
has come to
VALUEsignifyvaluefor
not just millions of
its consumers in
their daily lives but
also its employees
through its leading
workplace
practices
H Photograph by Umesh Goswami
INDUSTAN UNILEVER (HUL) IS
INDIA’S LARGEST FAST MOVING
CONSUMER GOODS (FMCG) COM-
PANY THAT HAS BEEN PRESENT IN
THE COUNTRY FOR MORE THAN 85
YEARS.
Nine out of ten Indian house-
holds use one or more of HUL
brands to feel good, look good
and get more out of life, giving the
company a unique opportunity to
70 | BW BUSINESSWORLD | 04 June 2022
CEO & MD Overall Avg. Score Revenue
Sanjiv Mehta 3.00 Rs 47,438 crore
contribute towards a brighter future for its customers and consumers. diversity and promote inclusion
across its beauty and personal care
With over 40 brands across 12 distinct categories, the company is part of portfolio and renamed the iconic
‘Fair & Lovely’ brand to ‘Glow &
the daily life of millions of consumers. Lovely’.
HUL is driven by the purpose to make sustainable living common- Home & Hygiene
place. The company with employee strength of more than 21,000, has The home care portfolio made a
significant contribution to the
been ranked as the best place to work for 12 years straight. “The relentless revenue as people continued to stay
at home in FY21. “We launched
commitment and dedication of every member of the Hindustan Unilever the Surf excel Active Hygiene and
introduced the Lifebuoy Laundry
family helped the business overcome Sanitiser. We saw a significant rise
in dishwasher sales in the country,”
many challenges in the past year,” said added Mehta.
Sanjiv Mehta, Chairman and Manag- Nine out of ten The growing demand for hygiene
ing Director, HUL in his message to the products saw HUL launch a slew
Indian households of variants of its well-established
shareholders. brands. For example, it launched
the anti-bacterial variant of Vim in
No surprises then that HUL has moved use one or more of bars and liquids, Domex launched
two places up to be ranked fourth in the a new formulation with sodium
hypochlorite that is proven to kill
latest BW Businessworld Most Respected HUL brands to feel coronavirus within one minute.
Companies (MRC) rankings compared to It gained market share in the tea
its position in the FY19 rankings. good, look good business, launched new fortified
food products, introduced Horlicks
Robust Numbers and get more and Boost and tied-up with deliv-
ery apps to help consumers access
HUL posted a robust set of numbers for out of life, giving HUL products at home.
2020-21. It reported a turnover of Rs the company a Mehta underlined that the top
45,311 crore, which is up 18 per cent while priority for HUL remained the
safety of its people and everyone
the domestic consumer growth stood at 6 unique opportu- who worked for HUL across its
supply chain and sales.
per cent. The profit after tax was Rs 7,954 nity to contribute
crore, up 18 per cent. HUL was one of the first compa-
nies to provide Covid-19 medical
“We managed Covid challenges well towards a brighter insurance for all those who work
and sustained strong cash generation. future for its at the frontend. These are among
The Board of Directors proposed a final the several reasons why HUL is in
the top spots and commands the
dividend of Rs 17 per share, subject to customers and respect of its employees and con-
approval of shareholders at the AGM. To- sumer alike. —Team BW
consumers
gether with interim dividend of Rs 14 per
share, the total dividend for the financial
year ended 31 March, 2021 amounted to
Rs 31 per share,” Mehta added. The total dividend payout during FY21 was
more than Rs 9,500 crore.
The consumer-centric approach of HUL saw its brands launching in-
novations, building awareness through communication, shifting to newer
ways of reaching consumers and connecting with communities through
purpose-led initiatives.
There was an unprecedented demand for skin cleansing and hand hy-
giene products. That is why Lifebuoy launched 15 new product variations
in the hand hygiene portfolio within just 30 days.
The company also completed the acquisition of female intimate hy-
giene brand VWash. Besides, the company took a decisive step to embrace
04 June 2022 | BW BUSINESSWORLD | 71
-MOST RESPECTED COMPANIES RANK 5 AmazonIndia
ECOMMERCE
E COMMITTED
TO
VERY AMAZONIAN IS GUIDED BY EXCELLENCE
AMAZON’S LEADERSHIP PRINCI- Customer obsession, ownership,
inventing and simplifying
PLES SUCH AS CUSTOMER OBSES- things are the key qualities that
Amazon is known as well as
SION, OWNERSHIP, INVENTING AND respected for
SIMPLIFYING THINGS, HAVING A
BIAS FOR ACTION AMONG OTHERS.
Amazon India is in the top five
of the BW Businessworld Most
Respected Companies list this year
based on high scores on parameters
like ‘trustworthy leadership’, ‘finan-
72 | BW BUSINESSWORLD | 04 June 2022
SVP - India & EM Overall Avg. Score Revenue*
Amit Agarwal 2.98 Rs 16,379 crore
* Media reports
cial returns’ and the ‘work culture’. unit of the ecommerce giant, saw its
revenue from operations grow 49.3
For the success of small Indian businesses, Amazon India is doing a lot, per cent to Rs 16,200.3 crore for
FY21. It also saw its losses narrowing
especially in the past three years. Earlier this month, Amazon unveiled the to Rs 4,748.1 crore for the financial
year 2020-21 from the previous
Exports Digest 2022 and announced that cumulative exports by Indian ex- year. Amazon Seller Services had re-
corded a net loss of Rs 5,849.2 crore,
porters on the Amazon Global Selling programme are on track to surpass the while its revenue from operations
stood at Rs 10,847.6 crore in FY20.
$5 billion milestone. This is indeed a very big achievement. The company said
Meanwhile, Amazon India in
this programme took about three years to enable the first billion dollars. “The April this year acquired Glow-
Road, the social commerce startup
last two billion dollars have come in just 17 months,” it said. in an all-cash deal, as per media
reports. In a statement, an Ama-
The programme has been witnessing remarkable adoption amongst zon spokesperson confirmed the
acquisition, saying the move will
businesses of all sizes across the country and has grown to more than 1 lakh help the company make inroads
with its commitment to digitising
exporters since its launch in 2015. These the nation’s 10 million businesses by
2025. Amazon, which has invested
exporters are showcasing millions of ‘Made over $6.5 billion in its India opera-
tions, added: “Amazon continues to
in India’ products to customers worldwide Amazon India explore new ways to digitise India
through Amazon’s 18 international web- has also intro- and delight customers, micro-entre-
sites in countries such as the US, UK, UAE, preneurs and sellers and bringing
GlowRoad onboard is a key step in
Canada, Mexico, Germany, Italy, France, duced several this direction.”
Spain, Netherlands, Turkey, Brazil, Japan, initiatives to pro-
Australia, and Singapore. “Together with GlowRoad, Ama-
zon will help accelerate entrepre-
Enabling Indian Exports mote the growth neurship among millions of creators,
homemakers, students, and small
Encouraged by the rapid growth that the of small busi- sellers from across the country,” it
added.
programme has been witnessing, Amazon nesses across
has doubled its exports pledge to now en- the country and GlowRoad sells products to cus-
able $20 billion in cumulative exports from tomers at wholesale prices and helps
them resell on Facebook and What-
India by 2025. Amazon Global Selling is a now has over 10 sApp. It also provides them with
flagship programme that helps lower the lakh sellers on logistics network and the ability to
entry barrier for Indian MSMEs to start or collect cash. The company website
of this startup says it has built a
expand their exports business using ecom- its marketplace, network of over 6 million resellers
merce. out of which over who on an average earn Rs 35,000
per month. We wish all the best to
Amazon India has also introduced sever- Amazon India. —Team BW
al initiatives to promote the growth of small 90 per cent are
businesses across the country and now has MSMEs
over 10 lakh sellers on its marketplace, out
of which over 90 per cent are MSMEs.
In February, the company said that in
partnership with over 60 NGOs, govern-
ment bodies and SHGs, Amazon Saheli was able to impact the livelihoods
of over 1 million women entrepreneurs. Through the Karigar programme,
Amazon impacted 13 lakh artisans and weavers including tribal communi-
ties in India, giving them an opportunity to sell their original handloom and
hand-crafted products to a large customer base directly, in partnership with
government emporiums across various states.
Impressive Revenue Growth
On financial returns, Amazon Seller Services, the India online marketplace
04 June 2022 | BW BUSINESSWORLD | 73
-MOST RESPECTED COMPANIES RANK 6 RelianceIndustries
OIL & GAS
T SCALING
NEW
RUSTWORTHY LEADERSHIP, FI- HEIGHTS
NANCIAL RETURNS AND GROWTH RIL continues to be the flag-
bearer of India Inc, breaking
PLANS -- THESE ARE THE THREE PA- barriers, achieving new
milestones and setting new
RAMETERS ON WHICH RIL SCORED targets
HIGH.
As a result, it managed to gain
one place over the previous ranking
and is placed in the sixth position
in the BW Businessworld Most
Respected Companies (MRC) list
for 2021.
74 | BW BUSINESSWORLD | 04 June 2022 Photograph by Sanjay Sakaria
Chairman Overall Avg. Score Revenue
Mukesh Ambani 2.97 Rs 5,02,653 crore
Undoubtedly, Reliance Industries (RIL) is the undisputed numero uno India, Ambani noted.
company in India having reported the biggest turnover (total assets + total Reliance Retail opened 1,456 new
income) of Rs 18.23 lakh crore in 2020-21. It was also ranked second in the
annual list of BW 500 companies for FY21. stores taking the total store count to
over 12,700 stores across the country.
Company No. 1 Reliance Jio became the first telecom
company in India and the second in
RIL is not just India’s largest and most profitable private sector company, the world to cross 400 million sub-
scribers in FY21.
it is also the country’s largest company
RIL was also at the forefront of
by market capitalisation (Rs 13,15,998 fighting the Covid-19 pandemic.
Reliance Foundation (RF) set up
crore), revenue (Rs 539,238 crore), and DuringFY21, Jio India’s first dedicated Covid-19
profitability (Rs 53,739 crore). hospital in Mumbai in just two
weeks after the pandemic reached
RIL also boasts of being one of the Platforms and Reli- India. In response to the sud-
largest contributors in terms of exports ance Retail raised den surge in Covid-19 cases in
(Rs 1,45,143 crore), job creation (more the city, Reliance Foundation
rapidly scaled up its Covid opera-
than 75,000 during the year), and CSR Rs 152,056 crore tions to create 875-bed facilities
spend (Rs 1,140 crore). and Rs47,265 crore, dedicated to Covid care. It is the
largest contribution by a phil-
In his letter to the shareholders, anthropic organisation to Covid
care in Mumbai, Ambani said.
Mukesh Ambani, Chairman, RIL de- respectively, from “RF has also set up fully equipped
scribed FY21 thus: “In a volatile environ- strategic and finan- 1,000-bed Covid care facilities
ment, Reliance generated an EBITDA of in Jamnagar. Overall, Reliance is
supporting the set-up and man-
Rs 97,580 crore ($13.3 billion), which is cial investors, includ- agement of over 2,300 beds across
4.6 per cent lower than last year. Diver- ing Facebook and various locations,” he added.
sified earnings stream and resilient con-
Last year, Reliance established
sumer businesses helped the company Google. BP invested a manufacturing unit in Silvassa
navigate through the unprecedented Rs 7,629 crore for to mass produce high quality PPE
pandemic headwinds.” kits for the frontline warriors. It
became the largest producer of
RIL also successfully completed a 49 percentstake high-quality PPEs in India. This
India’s largest ever rights issue of Rs in RIL’s fuel retailing year, in response to the urgent
53,124 crore (oversubscribed 1.59 need for medical oxygen across
the nation, Reliance repurposed
times), which is also the largest in the business its plants in Jamnagar to produce
world by a non-financial institution in medical-grade oxygen. Since the
beginning of the pandemic, Reli-
the last 10 years. ance has supplied over 55,000 mt
of medical grade liquid oxygen
Record Capital Raise across the country. —Team BW
During FY21, Jio Platforms and Reliance Retail raised Rs 152,056 crore
and Rs 47,265 crore, respectively, from strategic and financial investors,
including Facebook and Google. BP invested Rs 7,629 crore for a 49 per cent
stake in RIL’s fuel retailing business.
Strong operating cash flow and largest ever capital raise further strength-
ened the company’s balance sheet, enabling RIL to deleverage and meet its
net-debt zero commitment ahead of stated timeline.
During the year, RIL made pre-payment of $7.8 billion of long-term
foreign currency debt, with requisite approvals from the RBI. This is the
highest ever pre-payment of debt undertaken by any corporate borrower in
04 June 2022 | BW BUSINESSWORLD | 75
-MOST RESPECTED COMPANIES RANK 7 INFOSYS
The IT KING OF
bellwether gains CLOUD
in respect thanks
IT/ ITeS
to a nimble
leadership and
great work
culture that
helped it tide
over the global
crisis
A
GLOBAL LEADER IN TECHNOLOGY
SERVICES AND CONSULTING, IN-
FOSYS IS IN THE 22ND YEAR OF ITS
GLOBAL LISTING.
It is India’s second largest infor-
mation technology company and
has continuously done well for sev-
eral years at a stretch. In this year’s
BW Businessworld Most Respected
Companies rankings, Infosys has,
in fact, gained three spots and is
76 | BW BUSINESSWORLD | 04 June 2022
CEO & MD Overall Avg. Score Revenue
Salil Parekh 2.96 Rs 1,02,673 crore
ranked at the seventh position thanks to good set of financial numbers, “Our total shareholder return,
over the past three years, is the
trustworthy leadership and great work culture. highest among our peer group,” said
Parekh. In FY21, Infosys turned
The company has been driven by the principle of helping businesses move carbon-neutral, 30 years ahead of
the global guidelines. The company
to cloud efficiently. The company underlines the point that in the wake has enhanced its ESG commit-
ments by outlining ‘Infosys ESG
of the global crisis, as the world turned increasingly virtual, the need to Vision 2030’.
accelerate the journey to the cloud, in order to digitise, became even more Client-focused Company
urgent. Slowing down meant risking the organisation’s operational resil- What is Infosys doing right? It has
transformed into a very client-
ience or getting displaced by a rival who is focused company. The company is
investing in designing and develop-
better prepared for the next normal. “Our ing the right solutions required for
accelerating digital transformation.
thriving cloud community brings enter- What is Infosys
prises the ability to rapidly launch new doing right? It “Infosys will continue to inno-
solutions and create business models to vate and is well-placed to lead the
industry in the coming years,” said
meet changing market needs. The com- has transformed Chairman Nandan M. Nilekani. He
munity is further amplified by the Infosys into a very further expands: “First and fore-
partner ecosystem that brings together most, under our CEO Salil Parekh,
ably supported by the global senior
the hyperscale cloud providers, enterprise client-focused leadership, Infosys has trans-
app providers, startups and several other company. The formed into a very client-focused
technology innovators,” it said. company. Our stable and motivated
leadership is working quietly and
Impressive Financials company is in- without fuss to ensure Infosys is the
partner of choice for the world’s top
That is why despite a challenging year vesting in de- companies as they navigate their
next in these uncertain and rapidly
for the global economy, IT major Infosys signing and changing times.”
reported a 16.6 per cent year-on-year (YoY) developing the
increase in its consolidated net profit at Rs This, Nilekani said, has led to un-
precedented transformational large
19,351 crore for the financial year 2020-21. right solutions deals. Second, the company is invest-
The company’s revenue rose 10.7 per cent required for ac- ing in designing and developing the
YoY to Rs 1,00,472 crore during the fiscal right solutions required for accelerat-
ing digital transformation. Third,
under review. The company’s operating celerating digital the reinvention and modernisation
margin also expanded 320 basis points to transformation of Infosys’ own digital infrastructure
24.5 per cent during the fiscal. has prepared the company well. We
wish it the best for its future endeav-
“A strong momentum exiting FY21, ours. —Team BW
alongside a focused strategy to acceler-
ate client digital journeys, gives us confi-
dence for a stronger FY22,” the company’s CEO and MD, Salil Parekh, said.
Commenting on the fiscal year, Parekh said the digital business of Infosys
grew 29 per cent and now accounted for 52 per cent of the overall company
revenues in the fourth quarter.
“We had over $14 billion of large deals in the past year, the highest in our
history. We have continued to gain market share. We generated approxi-
mately $3 billion of free cash flow,” Parekh said in his letter to the share-
holders.
In FY21, Infosys’s earnings per share grew 17 per cent over the previous
year in rupee terms. The company awarded dividend of $1.5 billion for the
full year and announced a share buyback of $1.2 billion.
04 June 2022 | BW BUSINESSWORLD | 77
-MOST RESPECTED COMPANIES RANK 8 StateBankofIndia
BANKING
A CUSTOMER
AT ITS CORE
IDED BY BIG SCORES FOR ‘FINAN-
CIAL RETURNS’, ‘INNOVATIVE PROD- Acustomer-centricapproachmarked
UCTS/SERVICE’ AND ‘TRUSTWOR- by improving customer experience
THY LEADERSHIP’, STATE BANK and ensuring seamless delivery of
OF INDIA (SBI) GAINED ONE SPOT products and services has done SBI
TO BE RANKED EIGHTH IN THIS the world of good
YEAR’S BW BUSINESSWORLD MOST
RESPECTED COMPANIES LIST. THE
LAST SUCH SURVEY BEFORE THE
PANDEMIC IN 2020 HAD RANKED
SBI AT THE NINTH POSITION.
78 | BW BUSINESSWORLD | 04 June 2022
Chairman Overall Avg. Score Revenue
D.K. Khara 2.94 Rs 3,85,338 crore
Despite the ongoing pandemic, SBI’s business growth remained robust Growth In Deposits
in FY21, with deposits growing in double digits and advances rebounding
compared to the previous financial year. The bank’s domestic advances In FY21, SBI’s total deposits grew
growth also rebounded in FY21 and grew 5.67 per cent to Rs 21,82,516 at 13.56 per cent to Rs 36,81,277
crore, compared to 3.75 per cent growth in FY20. crore from the previous year’s level
of Rs 32,41,621 crore. This high
Focus On The Customer growth in deposits pushed SBI’s
market share up by 45 basis points
The bank’s various activities are centred (bps) to 23.29 per cent. How-
ever, the foreign offices’ deposits
on improving customer experience by contracted by five per cent (-5.04
per cent) to Rs 111,112 crore, while
ensuring seamless delivery of products In sheer num- domestic deposits grew 14.26 per
cent to Rs 35,70,165 crore.
and services. For this SBI created the ber terms, SBI
highest number of touch-points in terms On a positive note, the current
account savings account (CASA)
of branches and other digital modes. In has nearly 46 deposits grew at a faster 16.73 per
FY21, SBI had 71,968 operating banking crore customers, cent compared to term deposits
correspondents, around 22,219 branches growth of 12 per cent. Within
CASA, the current account depos-
and 62,617 ATMs, including 13,237 Auto- 22,219 branches, its grew 27 per cent, while saving
mated Deposit & Withdrawal Machines over 23 per cent bank deposits grew nearly 15 per
(ADWMs). On an average, over 1.12 crore cent, which resulted in the CASA
ratio improving by 97 bps to 46 per
transactions per day were routed through share in depos- cent in FY21, Khara said.
SBI’s ATM network in FY21.
SBI’s investment portfolio
Various new IT initiatives were also its, nearly 20 also increased to Rs 13,61,885
rolled out by SBI in FY21, including LIT- per cent share in crore (domestic portfolio was Rs
MAS (Litigation Management System) 13,14,424 crore and foreign port-
folio was Rs 47,461 crore) in FY21
for better monitoring of legal remedies advances, 29 per compared to Rs 10,58,048 crore in
undertaken in the stressed account for ex- cent share in deb- FY20.
pediting recovery. SBI has also rolled out
To ensure that employees worked
its property portal to showcase the assets it card spends, efficiently during Covid even in
to prospective buyers with an intention to the ‘work from home’ scenario,
SBI swiftly deployed the Virtual
enhance marketing and better realisation as well as 62,617 Private Network to equip the staff
of value of available assets. across India to ‘work from any-
With a legacy of over 200 years, SBI pan-India ATMs where’ (WFA) and ensure “busi-
ness as usual”. Many administra-
provides a wide range of products and tive and operational activities
in domestic and foreign office/
services through its various branches branches are being carried out
remotely through WFA facilities.
and outlets. In sheer number terms, SBI has nearly 46 crore customers, —Team BW
22,219 branches, over 23 per cent share in deposits, nearly 20 per cent
share in advances, 29 per cent share in debit card spends, as well as 62,617
pan-India ATMs and automated deposit and withdrawal machines. SBI
is also a market leader in government business. Its total government
business turnover stood at Rs 50,77,446 crore in FY21. Its subsidiary, SBI
Card, released its IPO in 2020. The company is the second largest credit
card issuer in India. Despite the ongoing pandemic, SBI’s business growth
remained robust in FY21, with deposits growing at double digits and
advances rebounding compared to last year, said SBI Chairman Dinesh
Kumar Khara.
04 June 2022 | BW BUSINESSWORLD | 79
-MOST RESPECTED COMPANIES RANK 9 SonyIndia
CONSUMER PRODUCTS
S COMMANDING
A PREMIUM
SONY IS NOT JUST A HOUSEHOLD
A household name in consumer durables
NAME IN CONSUMER DURABLES — as well as a brand of choice, Sony has
become synonymous with innovation
IT IS A BRAND THAT STANDS FOR and quality
INNOVATION AND QUALITY.
It is hardly surprising then that
in the perception survey carried
out by our knowledge partner
TechSci Research, as part of the
BW Businessworld Most Respect-
ed Companies (MRC) study for
2021, Sony India finds itself among
80 | BW BUSINESSWORLD | 04 June 2022 Photograph by Ritesh Sharma
MD Overall Avg. Score Revenue*
Sunil Nayyar 2.93 Rs 4,558 crore
* Media reports
the top 10 companies, ranked ninth. in an interaction.
Indeed, it has slipped six spots from the last MRC rankings of 2019 At one point, the major growth
that came out in 2020, yet it has scored highly on parameters like work drivers for Sony India were its
culture, trustworthy leadership and innovative products. high-end Bravia televisions, the Vaio
laptops and the Xperia handphones,
It scored less on the parameters of CSR and financial returns. Perhaps contributing to a whopping 70 per
the slip of six places is explained by the overall dip in revenue compared to cent of its total revenue. After pulling
2019. out the smartphones and the laptops
from the Indian market, Sony has
Impacted by Covid over the last few years zeroed in on
audio, digital imaging products,
As per the media reports based on the Sony isnowfocused gaming consoles and gaming soft-
latest regulatory filings to the Registrar only on the premi- ware.
of Companies (RoC), Sony India’s net
Sony is now focused only on the
profit grew 2 per cent to Rs 76 crore in um-endin India and premium-end in India and is the
2020-21. Covid and its adverse impact is the largestbrand largest brand in OLED and 4K
on business did contribute to Sony India HDR televisions, high-end head-
phones such as those with noise-
seeing a 7 per cent dip in revenues to Rs in OLED and4K cancelling features, party speak-
4,558 crore. HDR TVs, high-end ers, full-frame mirrorless cameras
and lens segments. “We are going
Reports said the company attributed strong in our premium product
portfolio and are bullish about it,”
it to the lockdown and its impact on headphones such he had said.
sales of certain categories, including as those with noise-
digital cameras. Exit from high volume The Indian arm of the Tokyo-
based transnational now generates
segments was also cited as one of the cancelling features, around 65-70 per cent of its rev-
reason for dip in sales. party speakers, full- enue from the television segment,
the balance from audio, camera
However, Sony India is also said to and other products.
have significantly increased its televi- frame mirrorless On the business front, it is
sion business in FY21 led by premium cameras and lens true that Sony India has been
high-end large screen models. Why? Be- severely impacted, especially in
the 32-inch television space. But
cause of higher penetration of stream- segments the India management has been
ing services and its consumption due to extremely bullish of its market
leadership. It is because a chunk
lockdown. of the market is competing for vol-
umes near the bottom of this pyra-
Sony India is also said to have posted mid. However, a growing number
of buyers are looking for premium
a record 50 per cent growth in sales of products, and the market in the
premium segment is growing at a
PlayStation gaming consoles and doubled gaming software and periphery fast pace. —Team BW
business with demand going up during lockdown.
Established in 1946 with an initial capital of just 190,000 yen (roughly
Rs 119,500 or $1,685) and 20 employees, the Japanese technology giant
has today grown into a colossus, with more than 117,300 employees and a
market capital of $65.36 billion.
Changing Product Mix
In India, Sony has been facing rough weather across its segments, with
television being the worst affected. Yet, the managing director for India
is unfazed. “Sony is only talking about premium,” Sunil Nayyar, the first
Indian to head the India operations, had told this magazine two years ago
04 June 2022 | BW BUSINESSWORLD | 81
NBFC -MOST RESPECTED COMPANIES RANK 10 HDFCLIFE
FOCUSED ON
CUSTOMER
CENTRICITY
Commitment to long-
term growth and
value creation for all
its stakeholders has
been the mantra for
the abiding success of
the life insurer
H
DFC LIFE INSURANCE IS A JOINT
VENTURE BETWEEN HDFC, IN-
DIA’S LEADING HOUSING FINANCE
INSTITUTION, AND STANDARD LIFE
ABERDEEN, A GLOBAL INVESTMENT
COMPANY.
Driven by its strong customer-cen-
tric approach, the company remains
steadfastly committed to long-term
growth and value creation for all its
stakeholders. Its value framework
82 | BW BUSINESSWORLD | 04 June 2022
CEO & MD Overall Avg. Score Revenue
Vibha Padalkar 2.91 Rs 71,889 crore
EPICC (excellence, people engagement, integrity, customer-centricity, and supported by a diversified distribu-
collaboration) characterises the inspiring culture, which fosters growth and tion architecture, market leading
progress, for the company and all its stakeholders, for today and tomorrow. innovation and a trusted brand,” said
Deepak S. Parekh, Non-Executive
The company has jumped a massive 18 spots to be ranked at the tenth posi- Chairman of the company.
tion in the BW Businessworld Most Respected Companies list for 2021. In the
previous edition of MRC rankings, HDFC Life was ranked 28th. It scored high- “We ranked consistently amongst
ly on parameters like ‘effective growth plan’, ‘financial return’, ‘women friendly the top two private sector com-
policies’, CSR and the overall ‘work culture’. panies in terms of new business
premium and closing the year at Rs
All-round Performance “Our all-round 20,107 crore with a market share
robust results in of 21.5 per cent. We registered a
In FY21, the company sold 9.8 lakh poli- the pandemic year growth of 37 per cent in assets
cies, 10 per cent higher than the previous stand testament under management, with an Indian
year. In FY21, HDFC Life insured 40 mil- to the resilience of GAAP profit growth of 5 per cent
lion lives, recorded a profit-after-tax of our differentiated to Rs 1,360 crore. We achieved this
Rs 1,360 crore, the value of new business businessmodel – a amidst an economic slowdown ex-
stood at Rs 2,185 crore with new business customer-centric acerbated by the pandemic, liquid-
margins at 26 per cent. It also settled over one, well supported ity crises in the financial sector, an
2.9 lakh death claims, pay-outs were in by a diversified dis- uncertain business environment
excess of Rs 3,000 crore. tribution architec- with changing customer prefer-
ture, market lead- ences and a volatile stock market,”
At the core of the company’s growth ing innovation and he added.
strategy is its customer-first approach,
which enabled it to consolidate its Tested By The Pandemic
industry position amid the challenging
environment of FY21. Driven by its strong Agrees Vibha Padalkar, CEO &
digital edge, this approach is centred on MD. She said the pandemic tested
solving customers’ needs, while building their agility as well as resilience as
technology resilience for the organisa- a company. “I am proud to say that
tion. For FY21, the company had 99.4 per we collectively tackled numerous
cent overall claim settlement ratio. adversities and continued to deliver
value to our stakeholders, without
Pan-India presence a trustedbrand” compromising on the safety of our
employees, our outsourced staff,
HDFC Life’s distribution ecosystem has vendors and partners. I am also
happy to say that we played a socially
a pan-India footprint. This includes 390 important role over the course of the
year, having settled over 2.9 lakh
physical branches and several additional touch points. The distribution frame- death claims, resulting in payouts
in excess of Rs 3,000 crore,” said
work is bolstered by more than 300 relationships with traditional partners, Padalkar.
brokers and collaborations with more than 50 emerging ecosystem partners. Despite the challenges posed by
lockdowns through the year, the
The company is also focused on expanding its reach by building a high qual- company also insured close to 4 crore
lives in FY21. —Team BW
ity agency channel comprising more than 1,00,000 financial consultants and
leveraging bancassurance partnership. The online channel is also being lever-
aged extensively by the company to cater to the needs of the new generation
customers. Currently, the company is sourcing and servicing policies in more
than 28,000 PIN codes, covering over 2,000 cities or towns.
“Our all-round robust results in the pandemic year stand testament to the
resilience of our differentiated business model – a customer-centric one, well
04 June 2022 | BW BUSINESSWORLD | 83
-MOST RESPECTED COMPANIES RANK 11 Wipro
BUILDING FOR TOMORROW
Wipro’s standing as a global IT company has only grown aided
by a trusted leadership and a vibrant work culture
IT/ ITeS W
IPRO, INDIA’S THIRD-LARGEST IT FIRM AND ONE CEO Overall Avg. Revenue
Score Rs 64,326 crore
OF THE LEADING SOFTWARE EXPORTERS, CON- Thierry
Delaporte 2.90
TINUES TO DOMINATE THE SPACE.
in IT services, Wipro, today, is focused entirely on the global
In April 2021, it fully integrated seven of its information technology business.
previously acquired companies. It now has almost
united all these companies under one Wipro The financial year that ended March 31, 2021 capped a
brand. This move allows it to go to market as ‘One landmark 12 months for Wipro, a period of total transfor-
Wipro’. mation. The company announced a new strategy, complet-
ed the biggest organisational restructuring in its history,
By scoring higher on the parameters of ‘finan- delivered strong performances for consecutive quarters,
cial returns’, ‘trustworthy leadership’, and ‘work and sealed its largest-ever acquisition, all in the middle of a
culture’, Wipro is ranked 11th in this year’s BW global pandemic. “We finished FY21 with healthy revenue
Businessworld Most Respected Companies list. It growth, prestigious deal wins, strong margins and robust
did slip three spots from the last MRC list for 2019. cash flows,” said Thierry Delaporte, the new CEO who took
charge in July 2020.
From Soaps To Computers
For the year ending 31 March 2021, the IT services
Wipro began business as a vegetable oil manu- revenues for Wipro stood at $8.1 billion, a decline of 1.4 per
facturer in 1945 at Amalner, a small town in cent YoY in reported currency. The company’s net income
Western India and thereafter forayed into soaps at Rs 107.9 billion grew 11 per cent YoY aided by improved
and other consumer care products before entering operating margins. —Team BW
the Indian IT industry in the 1980s, manufactur-
ing and selling mini computers. In the 1990s, it
leveraged its hardware R&D design and software
development expertise and began offering soft-
ware services to global clients. It is a leading global
information technology, consulting and business
process services company.
Today, Wipro continues to harness the power of
cognitive computing, hyper-automation, robot-
ics, cloud, analytics and emerging technologies to
help its clients adapt to the digital world and make
them successful. It has over 170,000 dedicated
employees serving clients across six continents.
In 2013, it demerged the non-IT diversified
businesses. With a track record of around 30 years
84 | BW BUSINESSWORLD | 04 June 2022
-MOST RESPECTED COMPANIES RANK 12 AppleIndia
HIGH GROWTH TRAJECTORY
Theiconicglobalbrandcontinuestoimpresswiththescorching
paceofitsgrowthinIndiainrevenueandreach
Impressive Growth
HANDSET MAKER With higher sales of its premium products, analysts
say they won’t be surprised if for FY22 the company
reported 35-38 per cent growth in revenue. As per Tim
Cook’s announcements, during the first six months of
FY2022, Apple India sales have nearly doubled.
T Apple India’s premium Mac portfolio may
have grown more than 2x in the first six-
month period. Between April and September
of 2021, Apple India managed to corner over
five per cent market share in the local PC
market, the IDC reported.
Another industry report said Apple India
HE INDIA ARM OF THE GLOBAL TECH COMPANY may have sold over five million units of
AND HANDSET MAKER APPLE IS CONFIDENT iPhone in the last calendar year. As per mar-
OF SCALING NEW HEIGHTS. ket reports, it had sold over 3.2 million
The company is ranked 12th in iPhones in the previous calendar
this year’s BW Businessworld year. With over 50 per cent jump
Most Respected Companies in sales of its iPhone in India in
survey, up from the 11th position the first 9 months of 2021, busi-
in the previous year’s rankings, ness is looking upbeat.
based on its high scores for The company is said to have
parameters such as Financial gained market share across
Return, Trusted Leadership product categories. It gained
and Work Culture. high single and double digit
Market estimates Apple market share across tablets,
India to cross Rs 30,000 iPhone, and iPads in 2021
crore in revenues in the cur- calendar year, said market
rent fiscal on the back of in- reports.
creased sale of its premium Apple watch was another
Mac portfolio, iPhone and product that reportedly did
other products. well in term of sales. For
For the fiscal year 2020- the third quarter of 2021,
21, the company is said to every fourth watch sold
have clocked revenues of Rs was an Apple watch. Of
22,845 crore, as per media course, pandemic did see
reports. With a reported more demand for electronic
growth of over 68 per cent products. With newer
in FY21, Apple India is said products getting avail-
to have clocked its highest CEO Overall Avg. Revenue* able in India faster than
numbers in little under a Score Rs 22,845 crore before, Apple India is set
decade of starting opera- Tim to see happy days ahead.
Cook 2.88 * Media reports
tions. — Team BW
86 | BW BUSINESSWORLD | 04 June 2022 Photograph by Eugene Powers
-MOST RESPECTED COMPANIES RANK 13 TataPower
FUTURE READY ALWAYS
Deliveringsustainedvaluetostakeholderswhilebeingaliveto
theconcernsoftomorrow’sworldhavebeenTataPower‘sUSP
INFRASTRUCTURE S
ERVING THE CUSTOMERS AND THE COMMUNITY CEO & MD Overall Avg. Revenue
Praveer Score Rs 32,907 crore
HAS ALWAYS BEEN THE CORNERSTONE OF THE Sinha
2.82
TATA GROUP’S PHILOSOPHY.
has accelerated the company’s ambitious plans to expand
Being at the forefront of innovation, Tata Power its business portfolio across renewables, transmission
has consistently delivered sustained value to its and distribution, as well as customer centric businesses of
stakeholders and constantly challenged the status Solar Rooftops, Solar Pumps, Microgrids, EV charging,
quo for continuous improvement and better ser- Energy Services (ESCO), Home Automation and Float-
vice delivery. The company has been ranked 13th ing Solar, amongst others. The company achieved a major
in this year’s BW Businessworld Most Respected strategic milestone by winning bids in the privatisation of
Companies list, down one rank from the previous the discoms in Odisha. “This has expanded our operational
year’s MRC rankings. It says it believes in acceler- footprint and increased our customer base in distribution
ating the transition to a sustainable future and its to 12 million customers,” said Sinha.
#futureready approach has enabled the company
to carefully strategise its business offerings and The company has set a target of becoming carbon neu-
empower customers for tomorrow’s world. tral before 2050. “We plan to phase out coal-based capacity
and expand our clean and green capacity to 80 per cent by
Deleveraging The Balance Sheet FY30. As India’s largest integrated solar EPC company,
we delivered strong performance in FY21 with Tata Power
In FY21, the company took effective steps to de-le- solar’s order book of over Rs 8,700 crore and a capacity of
verage its balance sheet. This strategy, says Praveer around 2,800 MW,” the CEO informed the shareholders in
Sinha, CEO and MD, resulted in greater investor his communique. —Team BW
confidence in the company’s performance and its
market capitalisation increased by 214 per cent
from Rs 10,496 crore in FY20 to Rs 32,990 crore in
FY21. “Furthermore, we raised Rs 2,600 crore by
way of issuing equity share capital on preferential
basis to Tata Sons reinforcing their commitment
to strengthening our company’s financials by
increasing their shareholding from 35.27 per cent
in FY20 to 45.21 per cent in FY21,” adds Sinha.
The completion of sale of the South African assets,
shipping assets as well as defence business and the
consequent reduction in debt and a correspond-
ing upgrade in credit ratings has enabled Tata
Power to further reduce its financing costs. This
04 June 2022 | BW BUSINESSWORLD | 87
-MOST RESPECTED COMPANIES RANK 14 NTPC
CHAMPIONING
ENERGY CAUSE
INFRASTRUCTURE NTPChasnotonlyliveduptoits
roleaspowersupplierstothe
nationbutalsoshoneasabusiness
duringthepandemic
Chairman & MD hydro sources. NTPC’s bills realisation crossed Rs 1 lakh
Gurdeep crore for the first-time, achieving realisation of 100 per
Singh cent of the billed amount.
Overall Avg. This year’s BW Businessworld Most Respected Compa-
Score nies study has ranked NTPC at No. 14, up five places from
2.78 the previous MRC ranking, on the back of high scores for
Financial Return and Work Culture.
Revenue
Rs 1,15,547 crore Record Financial Performance
S In FY21, NTPC registered its highest ever profit of Rs
13,769.52 crore as against Rs 10,112.81 crore in the corre-
TATE-OWNED NTPC IS INDIA’S LARGEST ENERGY CON- sponding previous year, registering an increase of 36 per
GLOMERATE WHICH WAS LAUNCHED IN 1975 TO ACCELER- cent. The total income of the company stood at Rs 103,552
ATE POWER DEVELOPMENT IN INDIA. crore as against the previous year’s income of Rs 100,478
crore.
Despite 2020-21 being a year of unprecedented dis-
ruption and the resultant economic distress due to the In FY21, the NTPC Board recommended final divi-
coronavirus pandemic, NTPC achieved capacity addition dend at 31.50 per cent of paid-up capital i.e. at Rs 3.15
of 4,160 MW and commercial capacity addition of 3,824 per share in addition to the interim dividend of 30 per
MW including 904 MW capacity from renewable and cent of paid-up capital, i.e. Rs 3 per share already paid.
This was the 28th consecutive year that the company
had paid dividend. NTPC also did buyback of 2 per
cent of its paid-up capital in FY21 for the first time and
incurred capex of Rs 20,686 crore. For the next level of
growth, NTPC has also sharpened its focus on renew-
able energy.
‘NTPC Renewable Energy’, a 100 per cent subsidiary
was incorporated to add renewables through a focused
approach. “NTPC has also made plans for creating its
renewables portfolio which could be as large as the
thermal portfolio,” said Gurdeep Singh, Chairman
and MD. Accordingly, the renewable targets have been
revised to 60 GW from 30 GW by 2032. A total of 15
per cent (1,560 MW) of renewable bids finalised in the
country were won in FY21 by competing with various
players in the sector. In the past one month, NTPC has
outperformed the market by surging 22 per cent on
expectation of strong power demand. The stock has
zoomed 58 per cent in a year as against 17 per cent rise
in S&P BSE Sensex. —Team BW
88 | BW BUSINESSWORLD | 04 June 2022
-MOST RESPECTED COMPANIES RANK 15 ASIANPAINTS
ENHANCING AsianPaintshasconstantly
VALUE createdvaluefor its
PROPOSITION stakeholdersbyposting
soundfinancialperformance
quarterafterquarter
CHEMICALS rural and urban areas at the country level. On the heels of a
healthy Q2 and Q3 recovery, this quarter saw exceptional
growth across businesses and consumer segments. This
quarter the performance has been outstanding, discount-
ing even the slightly lower base last year same quarter,”
Syngle said. This was reflected in a jump of 14 places to the
15 rank in the BW Businessworld Most Respected Compa-
nies rankings this year.
Robust Growth Numbers
The company’s domestic decorative business registered
a 48 per cent volume growth in the
Chairman quarter, led by a robust growth in the
Ashwin premium and luxury product range.
Dani The home improvement business
registered record sales for the fourth
Overall Avg. quarter, aided by the foray into home
Score décor business.
2.77 In his message to the shareholders,
company’s chairman Ashwin Dani
said: “We continued to enhance our
Revenue focus on understanding the chang-
Rs 20,016 crore ing customer needs and aspirations
across our businesses, and address
A these through new products and
SIAN PAINTS REPORTED A 15.8 PER CENT INCREASE IN solutions with a strong value proposi-
CONSOLIDATED NET PROFIT AT RS 3,139.29 CRORE FOR tion for our customers.”
THE FINANCIAL YEAR 2020-21. The entry of Asian Paints into home décor provided a
Revenue from operations increased by 7.4 per cent to Rs strong spring board to elevate the business to new stan-
21,712.79 crore. On a standalone basis, the paintmaker’s
net profit increased 15 per cent to Rs 3,052.51 crore. Good dards and large customer reach. High execution standards
performance of the second, third and fourth quarter in
FY21 together contributed to the increased revenue and net being a key ask from customers in these segments, the
profit for Asian Paints, as explained by Asian Paints MD
and CEO Amit Syngle after declaring the results. “We have business extensively focused on improving its execution
seen a very strong quarter aided by good demand across
capabilities with some unique propositions, Dani said.
For FY21, the company’s international business recorded
double-digit volume growth, led by good growth in Asia
and Middle East. “The huge inflationary trend in raw
material prices has been worrying, however, its impact
on profitability has been negated with some path break-
ing work on sourcing and cost optimisation. The current
business environment is unprecedented, and we would
continue to strongly engage with all our stakeholders,”
Syngle explained. —Team BW
04 June 2022 | BW BUSINESSWORLD | 89
-MOST RESPECTED COMPANIES RANK 16 HCLTechnologies
ACCELERATED GROWTH
Prioritising business continuity and the welfare of its
employees have worked wonders for the success of HCL
IT/ ITeS will advance the world to the next stage. In fact, at HCL,
they call this partnership of digital technologies and the
human spirit ‘The New Essential’.
“As we worked to help our clients navigate through
these turbulent times with our advanced and innovative
solutions, we also worked continuously to help the 168,000-
plus HCLites and their family members stay safe and
healthy,” said Shiv Nadar, Founder and Chief Strategy Of-
ficer, HCL Technologies in his message to the shareholders.
Timely Covid Planning
On her part, Chairperson Roshni Nadar Malhotra said that
for HCL, the top priority has always been the health and
safety of its employees and business
Chairperson continuity for their clients. “In the
early days of the Covid-19 pandemic
Roshni Nadar itself, HCL pushed the pedal to facili-
Malhotra tate the transition of employees and
clients to work remotely and build
Overall Avg. capacity through swift infrastruc-
Score ture scale-up. Our timely Covid-19
2.75 planning led to 96 per cent of our
employees working from home. It
Revenue was made possible due to the com-
mitment of our employees, discipline
Rs76,306crore of the leadership, and our robust
processes,” she said.
In the midst of a pandemic, HCL
B was able to support clients in the
ASED ON INDEXED SHARE PRICE, HCL TECHNOLOGIES running of their businesses and digitising and modernis-
DELIVERED THE HIGHEST SHAREHOLDER RETURN IN FY21 ing their applications and operations. This led to record
AMONG LARGE CAP TECHNOLOGY COMPANIES. revenue of Rs 75,379 crore ($10.17 billion) representing 6.7
This as well as other factors such as work culture have per cent year-on-year growth. EBITDA (profit before taxes,
contributed to the company being ranked 16th in the BW
Businessworld Most Respected Companies survey this finance cost, other income, depreciation and amortisation)
year.
in FY21 was at an all-time high of 27.6 per cent. Also, the
HCL said it has always believed that technology and
people working together can generate positive change that company’s EBIT (profit before taxes, finance cost and other
income) of Rs 16,165 crore grew 16.3 per cent YoY.
In a year when the world faced tremendous eco-
nomic difficulties HCL had strong operating cash
flows generation of Rs 19,618 crore, up 47 per cent on a
year-on-year basis. Also, it managed to set up a signifi-
cant revolving credit facility with its banks which gave
the company access to $800 million, on top of the Rs
10,283 crore in cash. — Team BW
90 | BW BUSINESSWORLD | 04 June 2022
-MOST RESPECTED COMPANIES RANK 17 SunPharmaceuticals
PHARMACEUTICALS DELIVERING GROWTH
SunPharmarodeouttheCovidstormadmirablyby
ensuringbusinesscontinuityandpostingrevenuegrowth
MD
Dilip S.
Shanghvi
Overall Avg.
Score
2.71
Revenue
Rs34,344 crore
M tical industry continued to manufacture and
supply pharmaceutical products. However,
OST OF SUN PHARMA’S BUSINESSES RECORDED GROWTH the lockdowns across the countries resulted in
temporary closure of doctor clinics, restric-
FOR FY21 DESPITE THE CHALLENGES POSED BY THE tions on travel of the medical representatives,
and a significant reduction in patient visits to
GLOBAL COVID-19 PANDEMIC. the doctor’s clinic,” said Shanghvi.
The India business of Sun Pharmaceuticals outper- Demand Hurt by Covid
formed the average industry growth, said Dilip S. Shang-
hvi, the company’s Managing Director. “We are also Non-critical treatments and elective surgeries were post-
enthused by the growth in our global specialty business. poned in many cases. Online medical consultation could
We believe that all our businesses are well positioned and only partly compensate for face-to-face interactions. This
our endeavour will be to grow the overall business. We also led to lower demand for pharmaceutical products in the
expect the momentum for our global specialty business to first half of the year and a gradual recovery was witnessed
continue,” he said. only in the second half, as governments lifted the lock-
down restrictions. “It is against this backdrop that we re-
Shanghvi termed FY21 as a ‘unique year’, as it witnessed ported a 2.5 per cent growth in our overall revenues which
the full brunt of the Covid-19 pandemic across the global stood at Rs 331 billion for FY21,” Shanghvi said.
economy and various sectors. Governments globally were
forced to resort to stringent lockdowns/ restrictions to For the full financial year 2020-21, Sun recorded a net
prevent the spread of the pandemic, which were gradually profit of Rs 2,903.82 crore compared to Rs 3,764.93 crore
relaxed in the second half of FY21. in the previous year. Sun’s total revenue from operations
stood at Rs 33,498.14 crore for FY21 compared to Rs
“Being a supplier of essential products, the pharmaceu- 32,837.50 crore in FY20.
“FY21 was a year marked by a highly volatile business
environment due to the global Covid-19 pandemic and
lockdowns in various countries. Despite these challeng-
es... we have been able to maintain business continuity
and record positive overall growth,” Shanghvi said.
Notably, the company’s EBITDA for the year grew
25.5 per cent. —Team BW
04 June 2022 | BW BUSINESSWORLD | 91
-MOST RESPECTED COMPANIES RANK18 HindustanPetroleumCorporation
POWERFUL PERFORMANCE
HPCL turned in record profits by beating the Covid blues
with smart operational and supply chain management
OIL & GAS N Speaking about the fantastic financial performance
of HPCL, Surana explained: “It was further helped by
AVIGATING THROUGH A CHALLENGING ENVIRONMENT, favourable exchange rate variations and inventory gains.
HINDUSTAN PETROLEUM CORPORATION (HPCL), THE HPCL achieved gross sales of Rs 269,243 crore during the
SECOND LARGEST LPG MARKETER IN INDIA, DELIVERED year.” HPCL now has a new CMD, Pushp Kumar Joshi.
ITS HIGHEST EVER PROFIT AFTER TAX OF RS 10,664
CRORE DURING FY21. Sharing The Spoils
The significant improvement in the profitability — it The Board of Directors of HPCL proposed payment of a fi-
crossed Rs 10,000 crore for the first time — in spite of the
nal dividend of Rs 22.75 per share for financial year 2020-
challenges due to the Covid-19 pandemic was a result of
efficient planning, robust operational performance and 21. To create value for the stakeholders, HPCL initiated its
effective supply chain management, said Mukesh Kumar
Surana, Chairman and Managing Director, HPCL. share buyback programme in November 2020 through
Thanks to these efforts, HPCL held on to its fifth rank market transactions for a maximum value of Rs 2,500
on the list of BW ‘Real’ 500 Companies. It, however,
slipped one place from the previous list to be ranked 18th crore at a maximum rate of Rs 250 per share.
in the BW Businessworld Most Respected Companies list
this year. As of 31st March 2021, HPCL bought 7.18
crore shares at a total value of Rs 1,986 crore.
The buyback programme was successfully
completed on its expiry date of 14 May 2021.
Overall, HPCL bought back 10.53 crore equity
shares utilising a total amount of Rs 2,954
crore which included
CMD all transaction costs
and taxes.
Pushp Kumar
Joshi Also, in FY21,
HPCL acquired the
balance 50 per cent
Overall Avg. of the equity in its
Score JV, HPCL Shapoorji
2.68 Energy (HSEPL)
making it a wholly-
Revenue owned subsidiary
of HPCL. This was
Rs2,73,222crore done considering the
importance of natu-
ral gas in the future
energy mix of the country.
HSEPL is setting up five MMTPA capacity LNG
regasification terminal at Chhara in Gujarat for which
construction is already underway, the company said. Dur-
ing 2020-21, both HPCL refineries at Mumbai and Visakh
maintained sound physical performance with a combined
capacity utilisation of 104 per cent and throughput of
16.42 MMT despite the demand contraction and con-
straints due to the Covid-19 pandemic. —Team BW
92 | BW BUSINESSWORLD | 04 June 2022
ECOMMERCE -MOST RESPECTED COMPANIES RANK19 FlipkartIndia
GROWING
LOCALLY
Flipkart overcame intense
competition in ecommerce
during the pandemic to
register a big jump in revenues
I
NDIA’S ECOMMERCE MARKET HAS BECOME EXTREMELY CEO national expansion as cross-border
sellers on Walmart Marketplace,
COMPETITIVE. Kalyan where they could reach a growing
Krishnamurthy market of more than 120 million
Every player, be it Flipkart, Amazon, Reliance’s JioMart
or Tata-backed BigBasket are engaged in a fierce battle to US consumers each month.
dominate India’s online retail market. The pandemic only
accelerated the shift of consumer behaviour to ecommerce Overall Avg. Along with Flipkart and
as shopping online amidst multiple lockdowns and restric- Score cross-border commerce company
tions were the only option left. As a result, the overall ecom-
merce market witnessed a blockbuster festive season sales 2.68 Payoneer, Walmart laid out a
of about $9.2 billion in 2021, compared to sales of $5 billion
reported during the festive month in 2019. detailed roadmap for local sellers
Amidst such challenging and highly competitive market Revenue* with export ambitions at the recent
dynamics, Walmart-owned Flipkart reported revenues of Rs 43,357 crore Walmart Global Seller Summit in
Rs 43,357 crore for FY21, a 25 per cent jump over FY20, as New Delhi, with a view to expand
per media reports based on the company’s balance sheet
filed with the Registrar of Companies. its sourcing from India to $10 bil-
This jump in revenues along with high scores on other lion a year by 2027.
parameters saw Flipkart climb to the 19th position in this
year’s BW Businessworld Most Respected Companies list, Over 650 Indian sellers attended
from the 22nd position it held in the previous MRC list.
this event. Rajneesh Kumar, Chief Corporate Affairs Of-
Revenue Up, Net Loss Down
ficer, Flipkart Group, said: “Over the past decade, Flipkart
News report said the growth in Flipkart’s revenue came on
the back of its net loss going down 23 per cent to Rs 2,445 has helped build a strong supply chain ecosystem in India,
crore. Reportedly, its total expenses stood at Rs 45,801
crore. Also, the company forayed into the omnichannel enabling hundreds of thousands of local businesses to
business through its business-to-business marketplace.
begin selling online as part of India’s digital retail revolu-
Flipkart’s parent Walmart is also offering Indian manu-
facturers and trading companies an opportunity for inter- tion. This also expands the pool of export-ready Indian
businesses that can now take advantage of this opportunity
on Walmart Marketplace.” —Team BW
94 | BW BUSINESSWORLD | 04 June 2022 Photograph by Bivash Banerjee
BANKING -MOST RESPECTED COMPANIES RANK20 HSBCIndia
RIDING ON
GROWTH
HSBC’s commercial
banking business that
lends to SMEs becomes
a key revenue centre
after five years of
sustained focus
E MD treasury income for the bank.
UROPE’S SECOND LARGEST LENDER BY ASSETS, THE Hitendra
Dave
HONG KONG AND SHANGHAI BANKING CORP (HSBC),
India A Key Market
RECENTLY SAID ITS PROFIT BEFORE TAX (PBT) IN INDIA
Overall Avg. “HSBC India has consistently
INCREASED NINE PER CENT TO $1.11 BILLION IN 2021
Score been amongst the top five con-
FROM $1.02 BILLION IN 2020.
2.64 tributors to the group’s profits.
This increase was led by a 42 per cent growth in
income from its commercial banking business. This The wholesale business has
business includes loans to medium size and small com-
panies. The PBT from its commercial banking division Revenue* performed extremely well across
increased to $265 million from $187 million in 2020 liabilities, assets, transaction
likely due to growth in loans to small and medium en- Rs14,440crore banking and capital markets.
terprise’s (SMEs), and made up for stagnant profit from
the bank’s global banking and markets (GBM) which is India is a key growth market for
the largest revenue centre for HSBC in India.
HSBC globally and we’re keen to
This contribution by the commercial banking divi-
sion along with good performance on other parameters expand our international whole-
aided the bank to jump three places to the 20th position
in the BW Businessworld Most Respected Companies sale and wealth businesses,” India CEO Hitendra Dave
rankings this year. It was ranked 23rd in the previous
MRC survey. said in a news report.
GBM profit before tax remained unchanged at $593 For HSBC, India is the fourth largest contributor to
million but still contributed more than half of the
bank’s profit in India, news reports said. HSBC’s GBM the bank’s global profit behind Hong Kong, UK and
division services large corporations and also includes
China. The growth in the commercial banking business
is on the back of a sustained focus by the bank in that
segment in the last five years, the company said.
As per news reports, the corporate loan book of
HSBC in India has seen a CAGR of 16 per cent in the last
five years, largely due to more than three-fold increase
in the loans disbursed to the small and medium enter-
prises in India. The total loan amount disbursed to the
SMEs reportedly grew from $300 million in 2018 to
over $1 billion till the middle of 2021. The bank has also
increased its presence and now operates more than 26
branches in India. —Team BW
04 June 2022 | BW BUSINESSWORLD | 95
MOST RESPECTED COMPANIES RANKINGS
BW BUSINESSWORLD MOST
MRC MRC Sector Companies Average
Rank Rank Score
2019 2022 IT/ITeS Tata Consultancy Services (TCS)
Technology Google India 3.08
4 1 Banking HDFC Bank 3.04
1 2 FMCG Hindustan Unilever 3.03
5 3 Ecommerce Amazon (India) 3.00
6 4 Oil & Gas/Diversified Reliance Industries 2.98
2 5 IT/ITeS Infosys 2.97
7 6 Banking State Bank of India 2.96
10 7 Consumer Products Sony India 2.94
9 8 NBFC HDFC Life Insurance 2.93
3 9 IT/ITeS Wipro 2.91
28 10 Handset Manufacturers Apple India 2.90
8 11 Infrastructure (Power, Heavy 2.88
11 12 Engineering) Tata Power Company
Infrastructure (Power, Heavy 2.82
14 13 Engineering) NTPC
Chemical & Paints 2.78
19 14 IT/ITeS Asian Paints
Pharmaceuticals HCL Technologies 2.77
29 15 Oil & Gas Sun Pharmaceutical Industries 2.75
NEW 16 Ecommerce Hindustan Petroleum Corporation 2.71
17 Banking Flipkart India 2.68
16 18 Infrastructure (Power, Heavy HSBC India 2.68
17 19 Engineering) 2.64
22 20 Telecom Larsen & Toubro
23 Oil & Gas 2.64
21 Technology Bharti Airtel
12 Metals and Minerals Indian Oil Corporation 2.63
22 Pharmaceuticals Siemens 2.62
13 23 Oil & Gas Tata Steel BSL 2.62
18 24 Banking Cipla 2.61
NEW 25 Pharmaceuticals Oil & Natural Gas Corporation 2.60
NEW 26 ICICI Bank 2.59
30 27 Dr. Reddys Laboratories 2.58
15 28 2.57
42 29
24
96 | BW BUSINESSWORLD | 04 June 2022
RESPECTED COMPANIES 2022
Effective Financial Innovative Trustworthy Embracing Corporate Women Work
Growth Return Product/ Leadership Latest Social Friendly Culture
Services Policies
Plan 3.70 3.72 Technologies Responsibility 3.55
2.94 3.48 2.73 3.64 2.67 3.72
2.85 3.62 2.82 3.65 2.80 2.50 2.55 3.60
2.99 3.53 2.77 3.75 2.90 2.38 2.53 3.60
2.72 3.70 2.67 3.76 2.78 2.26 2.60 3.66
2.88 3.81 2.71 3.63 2.70 2.40 2.40 3.35
2.92 3.61 2.57 3.46 2.77 1.98 2.10 3.66
2.62 3.67 2.68 3.84 2.75 2.60 2.53 3.05
2.55 3.39 2.98 3.56 2.75 2.40 2.44 3.62
2.55 3.65 2.88 2.80 2.78 2.23 2.51 3.11
3.18 3.68 2.68 3.80 2.86 2.10 2.70 3.48
2.36 3.40 2.45 3.44 2.77 2.38 2.63 3.53
2.80 2.82 2.61 2.21 2.20
3.03 2.78 2.10 3.39
2.61 2.60 2.28
3.65 2.80 2.17 3.37
2.67 3.75 2.40 3.30 2.57 2.22 1.98 3.35
3.20
2.91 3.39 2.40 3.26 2.48 2.05 2.28 3.17
2.61 3.32 2.74 3.25 2.64 2.10 2.17 3.21
2.55 3.30 2.70 3.25 2.60 1.95 2.15 3.48
2.70 3.68 2.38 3.05 2.51 2.05 1.88 3.23
2.55 3.33 2.64 2.92 2.44 1.65 2.40
2.52 3.10 2.62 3.25 2.46 1.80 2.15 3.10
2.70 3.38 2.55 3.28 2.40 1.90 1.81 3.10
3.15
2.34 3.42 2.58 3.21 2.47 2.05 1.90 3.13
2.66 2.90 2.48 3.20 2.58 2.10 1.88 3.28
2.29 3.62 2.31 2.85 2.59 1.75 2.38 3.18
2.38 3.44 2.72 3.00 2.21 1.62 2.21 3.10
2.58 3.10 2.60 2.85 2.60 2.00 1.90 2.75
2.70 3.54 2.40 3.00 2.40 2.10 1.50 3.05
2.74 3.65 2.10 3.30 2.60 1.70 1.80
2.25 3.55 2.28 2.80 2.55 1.73 2.32
04 June 2022 | BW BUSINESSWORLD | 97
MOST RESPECTED COMPANIES RANKINGS
BW BUSINESSWORLD MOST
MRC MRC Sector Companies Average
Rank Rank Score
2019 2022 Retail Titan Company
NEW 30 Infrastructure (Power, Heavy 2.56
Engineering) Adani Power
NEW 31 Healthcare 2.55
Defense Apollo Hospitals Enterprise
33 32 Consumer Products Bharat Electronics 2.55
NEW 33 Metals and Minerals Tata Consumer Products 2.54
NEW 34 FMCG/Diversified Hindalco Industries 2.53
35 Retail ITC 2.53
39 36 Oil & Gas Avenue Supermarts 2.52
38 37 Retail Oil India 2.52
NEW 38 Ecommerce Rajesh Exports 2.51
NEW 39 FMCG Big Basket 2.51
NEW 40 Consumer Products Ruchi Soya Industries 2.50
35 41 Real Estate Godrej Consumer Products 2.50
NEW 42 FMCG DLF 2.48
49 43 Banking Nestle India 2.47
20 44 FMCG AXIS Bank 2.46
52 45 Cement Manufacturing Britannia Industries 2.44
31 46 UltraTech Cement 2.44
NEW 47 Ports & Shipping Adani Ports and Special Economic 2.43
44 Zone
48 Metals and Minerals NMDC 2.43
NEW Apparel/Textiles Grasim Industries
49 Telecom Indus Towers 2.42
NEW 50 Automobile Ashok Leyland 2.40
43 51 Chemical & Paints Berger Paints 2.38
52 Metals and Minerals Vedanta 2.38
NEW 53 Chemical & Paints AkzoNobel 2.36
40 54 Cement Manufacturing ACC 2.29
32 55 Ecommerce One97 Communications (Paytm) 2.28
53 56 Automobile Maruti Suzuki India 2.26
37 57 Pharmaceuticals Lupin 2.26
54 58 2.25
34 59 2.24
NEW
NEW
98 | BW BUSINESSWORLD | 04 June 2022
RESPECTED COMPANIES 2022
Effective Financial Innovative Trustworthy Embracing Corporate Women Work
Growth Return Product/ Leadership Latest Social Friendly Culture
Services Policies
Plan 3.04 2.81 Technologies Responsibility 3.12
2.55 2.58 1.87
3.14 2.57 1.96 3.29
2.25 2.38 2.09
3.60 3.18 2.45 1.62 3.10
2.46 3.59 1.87 2.40 3.08
2.45 3.17 1.85 2.36 2.55 2.09 2.39 3.24
2.32 2.63 2.22 2.34 2.55 2.08 1.92 3.25
2.68 3.34 2.20 3.16 2.54 1.68 2.25 3.23
2.09 2.87 2.53 3.05 2.53 1.63 2.22 3.01
2.55 3.33 2.31 2.80 2.20 1.78 2.40 3.23
2.03 2.61 2.52 2.55 2.33 2.13 2.22 3.22
2.66 3.15 2.18 2.79 2.18 1.78 2.24 3.20
2.28 2.89 2.20 3.03 2.52 1.61 1.85 3.15
2.13 2.70 2.25 3.15 2.51 1.62 2.27 2.78
2.38 3.41 2.40 2.81 2.43 2.10 2.31 3.10
2.22 3.20 2.40 2.80 2.33 2.10 1.80 3.20
`2.58 3.00 2.68 2.67 2.30 1.88 1.83 3.20
2.15 3.61 2.20 2.35 2.38 1.55 2.00 2.81
2.75 3.10 2.11 3.10 2.35 1.52 1.26 3.20
2.45 2.08 2.83 2.36 1.76 2.00
3.17 2.37 2.45 1.78 3.26
2.22 2.33 1.87
2.68 2.84 2.49 1.25 2.65
2.33 3.40 2.39 2.26 2.80
2.67 3.08 2.10 2.75 2.24 2.02 2.20 3.17
2.44 3.08 2.51 2.60 2.40 1.00 1.76 3.17
2.44 3.22 2.51 2.26 2.34 1.49 1.76 2.91
2.18 2.75 2.10 2.26 2.34 1.49 2.13 2.89
1.88 3.28 2.15 2.72 2.31 1.28 2.30 2.70
2.21 2.65 2.08 2.20 2.05 2.10 1.20 2.97
2.60 2.15 1.60 2.65 2.15 2.00 1.98 2.88
2.00 2.19 2.34 2.83 2.40 1.05 2.10 2.54
1.85 2.23 2.22 3.00 2.20 1.40 2.05 2.51
1.81 2.20 2.89 3.00 1.28 1.92
2.58 2.88 1.80
04 June 2022 | BW BUSINESSWORLD | 99
MOST RESPECTED COMPANIES RANKINGS
BW BUSINESSWORLD MOST
Overall Rank by Company Average Overall Rank by Company Average
Rank Sector Score Rank Sector Score
APPAREL/TEXTILES 2.40 42 3 Godrej Consumer 2.48
Products
50 1 Grasim Industries
ECOMMERCE
AUTOMOBILE 5 1 Amazon (India) 2.98
52 1 Ashok Leyland 2.38 19 2 Flipkart India 2.68
58 2 Maruti Suzuki 2.25
40 3 Big Basket 2.50
57 4 One97 Communications 2.26
(PayTm)
BANKING
3.03 FMCG
3 1 HDFC Bank 2.94
8 2 State Bank of India 2.64 4 1 Hindustan Unilever 3.02
20 3 HSBC India 2.58
28 4 ICICI Bank 2.44 36 2 ITC 2.52
45 5 AXIS Bank
41 3 Ruchi Soya Industries 2.50
44 4 Nestle India 2.46
46 5 Britannia Industries 2.44
CEMENT MANUFACTURING
47 1 UltraTech Cement 2.43 HANDSET MANUFACTURERS
56 2 ACC 2.26 12 1 Apple (India) 2.88
CHEMICAL AND PAINTS HEALTHCARE
15 1 Asian Paints 2.77 32 1 Apollo Hospitals 2.55
Enterprise
53 2 Berger Paints 2.36
55 3 AkzoNobel 2.28 INFRASTRUCTURE (POWER, HEAVY
ENGINEERING)
CONSUMER PRODUCTS 13 2 Tata Power Company 2.82
9 1 Sony India 2.93 14 3 NTPC 2.78
Tata Consumer 21 4 Larsen & Toubro 2.64
Products
34 2 2.53 31 1 Adani Power 2.55
100 | BW BUSINESSWORLD | 04 June 2022
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