To give some international perspective on large Indian company performance, the overall value of India’s exports rose by 22.5% from US$263.9 billion in 2015 to $323.5 billion during 2019. From 2018 to 2019, international sales of India’s exported goods declined by -0.2%.
In the analysis below, we compare 10 among India’s top exports-related companies based on asset values, sales and profitability as of December 2019. Also presented is the Indian city where each business has its headquarters.
India’s Top 10 Major Export Companies
Below are some of India’s biggest exports-related companies organized by asset value. Shown within parentheses is the primary industry in which each company operates. Also shown is the change in asset value as of December 2019 compared to one year earlier.
- Reliance Industries (oil, gas): US$147.2 billion up 17.6% from 2018
- Oil & Natural Gas (oil, gas): $72.6 billion, up 10.8%
- Indian Oil (oil, gas): $47.1 billion, up 1.1%
- Tata Motors (car/truck maker): $42.4 billion, down -4.9%
- Tata Steel (iron, steel): $34.4 billion, up 28.8%
- Mahindra & Mahindra (car/truck maker): $23.5 billion, up 89.5%
- Hindalco Industries (aluminum): $21.5 billion, down -9.3%
- Bharat Petroleum (oil, gas): $20.7 billion, up 21.8%
- Coal India (diversified metals, mining): $19.7 billion, up 10.7%
- Steel Authority of India (iron, steel): $17.2 billion, down -3.4%
Seven of the above Indian businesses grew their asset values from 2018 to 2019, led by automotive manufacturer Mahindra & Mahindra (up 89.5%), Tata Steel (up 28.8%) and Bharat Petroleum (up 21.8%).
Three of India’s top corporations suffered reductions in asset size year over year: aluminum firm Hindalco Industries (down -9.3%), Tata Motors (down -4.9%) and Steel Authority of India (down -3.4%).
Sales is the life blood of most businesses, and particularly for firms that compete in international trade. Eight among India’s largest exports-related companies increased their year-over-year sales as of December 2019.
- Reliance Industries: US$84.8 billion, up 39.5% from 2018
- Oil & Natural Gas: $60.1 billion, up 221.4%
- Bharat Petroleum: $42.6 billion, up 42%
- Tata Motors: $40.5 billion, down -5.8%
- Indian Oil: $39.9 billion, down -24.6%
- Tata Steel: $21.1 billion, up 6%
- Hindalco Industries: $18.6 billion, up 24.8%
- Mahindra & Mahindra: $14.5 billion, up 3.6%
- Coal India: $13.8 billion, up 9.5%
- Steel Authority of India: $9.6 billion, up 45.5%
Leading the gains in annual sales were Oil & Natural Gas (up 221.4%) and Steel Authority of India (up 45.5%). Other double-digit improvements belong to Bharat Petroleum (up 42%), Reliance Industries (up 39.5%) and Hindalco Industries (up 24.8%).
The two top Indian businesses experiencing shrinkage in their global sales were Indian Oil (down -24.6%) and Tata Motors (down -5.8%).
Nine of India’s top 10 major exports-related companies posted profits in 2019.
- Reliance Industries: US$6.2 billion, up 10.7% from 2018
- Oil & Natural Gas: $4.4 billion, up 41.9%
- Coal India: $2.6 billion, up 100%
- Indian Oil: $1.8 billion, down -40%
- Bharat Petroleum: $1.1 billion, down -15.4%
- Hindalco Industries: $785.7 million, up 177.6%
- Tata Steel: $772.7 million, up 155%
- Steel Authority of India: $335.8 million, reversing a -$411 million deficit
- Mahindra & Mahindra: $291 billion, down -73.5%
- Tata Motors: -$150.4 million, reversing a $1.7 billion profit
In addition to Steel Authority of India which was able to transition from a -$411 million loss in 2018 to generate $335.8 million in black ink 2019, five of India’s major international businesses managed to boost their bottom-line profits year over year. Profit gain leaders were aluminum firm Hindalco Industries (up 177.6%), Tata Steel (up 155%) and Coal India (up 100%).
Leading the profit shrinkage in 2019 were automotive competitor Mahindra & Mahindra (down -73.5%), Indian Oil (down -40%) and Bharat Petroleum (down -15.4%).
Six of India’s top 10 major export companies have their headquarters located in Mumbai. Two other companies are based in the capital city of New Delhi.
- Bharat Petroleum: Mumbai
- Coal India: Kolkata
- Hindalco Industries: Mumbai
- Indian Oil: New Delhi
- Mahindra & Mahindra: Mumbai
- Oil & Natural Gas: Dehradun
- Reliance Industries: Mumbai
- Steel Authority of India: New Delhi
- Tata Motors: Mumbai
- Tata Steel: Mumbai
Note: Some of the above company offerings may include products other than the principal category shown within parenthesis under the Assets tab.
For example, Hindalco Industries produces not only aluminum but also copper rods, copper cathodes, sulfuric acid, gold and silver.
Similarly, Mahindra & Mahindra manufactures a wide range of automotive vehicles, agricultural tractors, implements and industrial engines. Mahindra & Mahindra subsidiary businesses encompass aerospace, construction equipment, information technology, logistics, real estate and retail.
See also India’s Top 10 Exports, India’s Top 10 Imports and Top Indian Trade Balances
Forbes Global 2000 individual company profiles, Example of top Indian company compiled for this study: Reliance Industries. Accessed on August 26, 2020
Forbes Global 2000 rankings for the UK, The World’s Biggest Public Companies. Accessed on August 26, 2020
International Trade Centre, Trade Map. Accessed on August 26, 2020
Wikipedia, Category: Companies of India. Accessed on August 26, 2020
Wikipedia, List of companies of India. Accessed on August 26, 2020