IOC tops Fortune India 500 list; 6 PSUs among top 10

OIL giant PSU Indian Oil Corp (IOC) is the country's biggest company in terms of annual revenue, followed by private sector giant Reliance Industries, as per Fortune 500 list in India.
This year's list of the country's 500 largest companies, compiled by the global business magazine Fortune's Indian edition, reveals that there are...
six state-run companies in the top-ten positions, as against four from the private sector and there are seven energy companies in the top 10 list.
Indian Oil Corp (IOC) was the biggest with annual revenue of Rs 4,75,867 crore. Last year IOC was ranked 83 in the global list. This is followed by BPCL (Rs 2,44,822 crore) at the third place and HPCL (Rs.2,17,771 crore) at fourth.
This year's list shows "while sales growth has slowed, there are signs of recovery in profit. However, interest cost continues to be spoilsport."
"The good news is that the data shows that Indian companies are maturing... They are not letting up their determination to win the battle for talent -- salaries and wages have actually grown, despite bad times," the magazine said in a statement.
Other companies figuring in the list include State Bank of India (5th rank), Tata Motors (6th), ONGC (7th), Tata Steel (8th), Essar Oil (9th) and Coal India (10th).
Interestingly, top eight companies have retained their respective ranks from the previous year, Fortune India said. Power major NTPC is ranked 15th in the list.
Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2013. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year, says Fortune.
Here is the list of Indian companies figuring in Fortune 500
Indian Oil Corp (88)
Reliance Industries (107)
Bharat Petroleum (229)
Hindustan Petroleum (260)
State Bank of India (298)
Tata Motors (316)
Oil & Natural Gas (369)
Tata Steel (471)