Top Indian Companies by Highest Revenue

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 8th July 2024 - 12:17 pm

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Company revenue is an important indicator influencing a company's financial success and market standing in the stock market. Numerous businesses in India have accomplished extraordinary feats in terms of revenue generation. These businesses not only provide a sizable contribution to India's GDP but also shape other industries, produce jobs, and promote innovation. Reliance Industries Limited, an Indian conglomerate run by business mogul Mukesh Ambani, sits at the top of the list of top Indian companies by revenue. Reliance Industries has a stunning annual turnover of over $100 billion, i.e. 10,000 crores.

Tata Consultancy Services (TCS), India's largest provider of IT services, is another noteworthy participant. With over $20 billion, i.e. 2000 crores in revenue, TCS has become a world leader in the information technology industry. These businesses join a select group of other top Indian companies by revenue, including HDFC Bank, Hindustan Unilever, and Infosys. Their outstanding accomplishments showcase India's dynamic and energetic corporate ecosystem, which thrives and develops worldwide. This article will guide you in understanding which are the top Indian companies by revenue.

What is Company Revenue?

Company revenue means the total amount of money a business generates through its operations and sales activities during a specific period. It is a crucial financial indicator that gauges the revenue or input of cash into a business. Revenue is frequently called the "top line" because it is the first figure on an organization's income statement. It shows before expenses and taxes are subtracted for net income or profit.

The company's revenue includes all sources of income from a company's primary business activities, such as sales of goods or services, fees, royalties, and interest earned. It displays a business's effectiveness and success in luring clients, providing value, and gaining market share. Companies constantly monitor and report their quarterly or annual revenue to give customers information about their financial standing and growth trajectory. Revenue comparisons show the best Indian companies by revenue. It can be done over time or with rival businesses and can be used to evaluate the success of company plans and determine one's standing in the market.

Understanding Company Revenue with an Example

Let's use the example of a hypothetical retail business called "XYZ Electronics" to understand better how firm revenue is calculated. The company's area of expertise is consumer electronics like cell phones, computers, and televisions.

XYZ Electronics earns income through its sales activity throughout a specific fiscal year. Let's say the company sold 2,000 televisions for $1,500, i.e. INR 1,22,965/- on average, 10,000 smartphones for $500 (INR 40,988) on average, 5,000 laptops for $1,000 (INR 81,977) on average, and 10,000 laptops for $500 (INR 40,988) on average. The total sales from each category of products are added up to determine the company's revenue:
●    $10,000 cell phones multiplied by $500 will bring in $5,000,000 in revenue.
●    Five thousand laptops multiplied by $1,000 in revenue is $5,000,000.
●    Two thousand televisions multiplied by $1,500 each will bring in $3,000,000 in revenue.
Total revenue equals $5 million plus $5 million plus $3 million, or $13 million. Therefore, XYZ Electronics earned $13,000,000.0 in revenue during this financial year. The total amount of money this revenue represents the business made from selling its goods during that period.

List of Top 10 Indian Companies by Highest Revenue

Here is a list of the top Indian companies by revenue:

1.    Reliance Industries Limited
2.    Indian Oil Corporation Limited
3.    Tata Motors Limited
4.    State Bank of India
5.    Bharat Petroleum Corporation Limited
6.    Hindustan Petroleum Corporation Limited
7.    Oil and Natural Gas Corporation Limited
8.    Tata Consultancy Services Limited
9.    Infosys Limited
10.    Larsen & Toubro Limited

Overview of 10 Indian Companies by Highest Revenue

Here is an overview of the list of Indian companies by revenue:

1.    Reliance Industries Limited

Reliance Industries Limited is one of the top Indian companies by revenue, with over $1 trillion market worth. Petrochemicals, refining, oil and gas exploration, telecommunications, and retail are just a few sectors it dominates. Reliance Industries has the largest oil refinery complex in the world and, through its subsidiary, Reliance Jio Infocomm, has a substantial presence in India's telecom industry. Reliance Retail, a business division specializing in retail, is a significant player in the Indian consumer goods, clothing, and food market.

2.    Indian Oil Corporation Limited

A powerful state-owned oil and gas corporation in India is called Indian Oil Corporation Limited (IOCL). Its market cap is about $21 billion. One of the biggest oil marketing and refining businesses in India is IOCL. The company's operations cover all aspects of the hydrocarbon value chain, including refining, pipeline transportation, and marketing of petroleum products. IOCL manages a huge network of pipelines, petrol stations and refineries nationwide. It is key to satisfying India's energy needs and supplying vital fuel and lubricants for several industries, domestic uses, transportation, and industry.

3.    Tata Motors Limited

Tata Motors Limited is a member of Tata Group which is based in India. The market value of Tata Motors is almost $21 billion. Tata Motors is one of the leading car companies in the world and India. The business operates in several industries, including electric cars, commercial vehicles, and passenger automobiles. Tata Motors produces various vehicles, including automobiles, SUVs, lorries, buses, and electric vehicles. It emphasizes innovation, environmentally friendly mobility options, and the provision of high-quality and dependable vehicles to meet the various demands of customers in various markets.

4.    State Bank of India

SBI (State Bank of India) is India's largest public sector bank. This Mumbai-based provider of banking and financial services is government-owned. SBI has a sizable market share and operates a nationwide network of branches and ATMs. The market value of SBI is roughly $41 billion. The bank occupies a prominent position in the Indian banking sector. It provides many banking services and products, including wealth management, corporate banking, retail banking, and treasury operations. SBI provides services to many different consumer groups and is essential to India's economic development and financial inclusion.

5.    Bharat Petroleum Corporation Limited

Bharat Petroleum Corporation Limited (BPCL) has a market value of about $9 billion. It occupies an important place in distributing, marketing and refining petroleum products. The business runs refineries, petrol stations and pipelines to ensure critical fuels and lubricants are accessible throughout India. Retail consumers, business clients, and the aviation industry are just a few of the several clientele categories served by BPCL. The company's key priorities are providing top-notch products, upholding operational excellence, and enhancing the nation's energy security. BPCL is essential to satisfying India's rising energy needs and promoting economic development.

6.    Hindustan Petroleum Corporation Limited

An Indian government-owned oil and gas firm is called Hindustan Petroleum Corporation Limited (HPCL) and is one of the top Indian companies by revenue. It is an ONGC (Oil and Natural Gas Corporation Limited) subsidiary. The market value of HPCL is about $8 billion. In the oil and gas sector, HPCL occupies a key position and engages in several operations, including refining, marketing, and distributing petroleum products. The business runs refineries, petrol stations and pipelines to make sure that fuels and lubricants are available to clients throughout India. Delivering top-notch goods, upholding operational effectiveness, and meeting the country's energy needs are HPCL's major priorities.

7.    Oil and Natural Gas Corporation Limited

ONGC is an India-based global oil and gas corporation. The market value of ONGC is about $32 billion. The top gas and oil exploration and production business in India is ONGC. The company's main business activities are exploring, developing, and producing natural gas and crude oil. ONGC operates onshore and offshore oil and gas fields to meet India's energy needs. To maintain sustainable and effective operations in the oil and gas sector, it strongly emphasizes increasing domestic output, creating new fields, and using cutting-edge technologies.

8.    Tata Consultancy Services Limited

An international provider of IT services and consulting, Tata Consultancy Services Limited (TCS) is based in India. One of the biggest IT firms in the world, TCS has a market worth about $191 billion. TCS is a market leader in the IT services sector, which offers a wide range of services, such as infrastructure services, software development, consulting, and business process outsourcing. The business provides clientele for the banking, healthcare, retail, and manufacturing sectors. TCS utilizes technology to provide its clients worldwide with creative solutions, digital transformation, and company success.

9.    Infosys Limited

An international provider of IT services and consulting, Infosys Limited is based in India and is one of the top Indian companies by revenue. The market capitalization of Infosys is over $101 billion. In the IT sector, Infosys is well-known for offering clients across the globe software development, maintenance, and independent validation services. The organization services several industries: manufacturing, retail, healthcare, and financial. To assist clients in enhancing their business operations, enhancing customer experiences, and fostering creativity, Infosys focuses on delivering digital transformation, utilizing emerging technologies, and offering end-to-end solutions. Infosys is regarded as a leader in the IT services sector and has a significant global footprint.

10.    Larsen & Toubro Limited

An Indian multinational company with a wide variety of business operations is called Larsen & Toubro Limited (L&T). The market value of L&T is roughly $39 billion. L&T is well-known in the engineering, building, technology, and financial services industries. Infrastructure, power, defense, hydrocarbons, information technology, and financial services are just a few of the segments that make up the company's commercial operations. L&T works on engineering and building projects, manufactures industrial equipment, offers financial and investment services, and offers IT services and solutions. The business is renowned for its engineering expertise, project management skills, and dedication to providing cutting-edge and environmentally friendly solutions.

Summary: Top 10 Companies in India by Highest Revenue

Here is the list of top Indian companies by revenue in India:

Company Name


Revenue (INR)

Market Cap (INR)

Reliance Industries Limited


₹5,39,000 Crores

₹14,34,000 Crores

Indian Oil Corporation Limited

Oil and Gas

₹5,14,000 Crores

₹1,14,000 Crores

Tata Motors Limited


₹2,67,000 Crores

₹86,000 Crores

State Bank of India


₹2,64,000 Crores

₹1,95,000 Crores

Bharat Petroleum Corporation Limited

Oil and Gas

₹2,59,000 Crores

₹60,000 Crores

Hindustan Petroleum Corporation Limited

Oil and Gas

₹2,27,000 Crores

₹42,000 Crores

Oil and Natural Gas Corporation Limited

Oil and Gas

₹2,22,000 Crores

₹1,08,000 Crores

Tata Consultancy Services Limited

IT Services

₹1,73,000 Crores

₹13,33,000 Crores

Infosys Limited

IT Services

₹1,57,000 Crores

₹7,64,000 Crores

Larsen & Toubro Limited


₹1,46,000 Crores

₹3,88,000 Crores


The top Indian companies by revenue show the nation's varied and dynamic commercial environment. This list of Indian companies by turnover operates in various sectors, including banking, conglomerates, oil and gas, automobiles, and IT services. Their strong earnings are a reflection of both their competitiveness on a worldwide scale and their major economic contributions to India. 

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