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A total of forty-four companies from Tamil Nadu figured in the first edition of ‘2021 Burgundy Private Hurun India 500’ report. The report comprises a list of 500 most-valued, non-state-owned companies in India.
Launched by Burgundy Private, Axis Bank’s Private Banking Business, and Hurun India, the report ranks companies according to their value, which is defined as market capitalisation for listed companies and valuations in case of non-listed companies.
According to the report, the cumulative value of companies from Tamil Nadu stands at ₹10-lakh crore. Titan Company is Tamil Nadu’s most valuable company in the state valued at ₹2,18,404 crore followed by Ramcharan & Co (₹67,500 crore) and Apollo Hospitals Enterprise (₹59,498 crore). Ramcharan & Co had recently announced investment of $4.14 billion for a 46 per cent stake by deep impact fund TFCC valuing it at $9 billion.
The other companies in the top 10 most valuable list include Cholamandalam Investment and Finance Company (₹51,107 crore) Ashok Leyland (₹41,640 crore), Zoho Corporation (₹36,800 crore), MRF (₹33,663 crore), TVS Motor Company (₹29,733 crore), Hatsun Agro Product (₹28,635 crore) and Tube Investments of India (₹27,420 crore).
The top 5 most valuable unlisted companies list was topped by Ramcharan & Co followed by Zoho Corporation and Amalgamations valued (₹25,100 crore), Five Star Business Finance (₹10,300 crore) and Neuberg Diagnostics (₹9,000 crore).
“Chennai as a key propeller of the double-digit automobile growth witnessed in India in the last year is leading the race to revive the economy. With structural reforms and infrastructural investments being championed by 2021 Burgundy Private Hurun India 500 companies such as Ashok Leyland, MRF, TVS Motors, Tamil Nadu is playing a significant role in democratising mobility and bridging the gap between urban and metro India,” Anas Rahman Junaid, MD and Chief Researcher, Hurun India said in a press statement.
Sectoral break-up
Among sectors, financial services led the way with 9 companies, followed by Automobile & Auto Components (7 companies) and Healthcare 5 companies). The report noted that the total sales of companies from Tamil Nadu in the 2021 Burgundy Private Hurun India 500 list cumulated to ₹3.1-lakh crore, which is equivalent to 16 per cent of the State’s gross state domestic product (GSDP).
The Tamil Nadu-based companies in the 2021 Burgundy Private Hurun India 500 companies collectively employ 2.9 lakh people at an average of 6,908 employees. The average age of companies from Tamil Nadu in the list is 52 years.
The 2021 Burgundy Private Hurun India 500 list refers to companies headquartered in India only. State-owned companies and subsidiaries of foreign companies are not included in the list.
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