We Bring Good Tidings
“Exploration is the engine that drives innovation. Innovation drives economic growth. So let’s all go exploring” — Edith Widder
Oceanographer, marine biologist and scientist, Widder Smith was obviously referring to the ocean. We though, are offering you an exploration of a sea of knowledge and information — for it is that time of the year again when you are bombarded with ‘year-enders’ — the success stories of the year — the faces that stood out — the companies and corporations that put up a stellar show, and of course, the hits and misses.
It is also the time of the year when BW Businessworld comes out with the most definitive ranking of India’s largest companies — the BW Real 500. Our annual offering, encompassing 56 per cent of the Indian economy and a plethora of both listed and unlisted companies, assumes special significance in a year that witnessed an economic slowdown, and then a late recovery. We tell you who swam through and who sank in the aftermath of the cash crunch that followed demonetisation and a somewhat tardy implementation of the GST.
The year 2017 also brought to life two legislations with far-reaching implications, namely RERA and the Insolvency and Bankruptcy Act. We weigh the impact these measures may have had on the bottom line of corporate India. The most sought-after annual rankings, BW Real 500, are on the basis of the total assets and total income of the companies rated. Parameters like returns to shareholders have also been taken into account, though.
The ranking is the outcome of a screening of a database of over 10,000 companies, whose audited financial results were available with our knowledge partner, Ace Equity on November 27, 2017. Both listed and unlisted companies were put to the test. Listing data was taken from the respective stock exchanges. Our research points to a distinctive improvement in the balance sheets of India’s best corporations.
In size and scale, the top 20 companies in the BW Real 500 list corner about 47 per cent of the total assets and income of all the rest, aggregating to a whopping Rs 66 lakh crore. In FY16, the combined assets and income of the top 20 in the list were worth Rs 60 lakh crore. The issue in your hand, anchored by Mumbai Bureau Chief Clifford Alvares, contains profiles of the top 20 non-financial companies and the top three financial companies. It promises to be a collector’s item — for industry, government and students of economics.
Our second Cover is on Mindshare, which has remained India’s number one marketing services agency since inception 20 years ago, and plans to remain at the top. The feature, helmed by our Media and Marketing Editor, Noor Fathima Warsia, also includes an interview with Mindshare’s South Asia CEO, Prasanth Kumar.
This issue of BW Businessworld includes all our regular corporate features and the After Hours segment. Our ‘Last Word’ is with yoga guru and now FMCG king, Swami Ramdev. Industry insider Prabal Basu Roy takes a peek within the Infosys boardroom and ponders on the “compromise of convenience”.
The last few weeks have been newsy. Rahul Gandhi has been elevated as Congress President. The December chill has set in and winter promises to be more severe in the northern plains. The Gujarat verdict has been on the expected lines. We continuously bring you updates on these developments and more on our website, businessworld.in. Do keep writing in, and hope you like reading this issue.
