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    India's Top Revenue Generator: Mukesh Ambani's Reliance, Ratan Tata's Tata Motors, or HDFC Bank?

    India's Top Revenue Generator: Reliance, Tata Motors, or HDFC Bank?


    Finance Outlook India Team | Thursday, 20 February 2025

    On February 18, 2025, the Burgundy Private Hurun India 500, announced that Reliance Industries (RIL) became India's largest conglomerate again and they dominated the list. This reinforces the company's dominance in the Energy domain with revenues of Rs 9,30,529 crore. With growth of just 3% in revenues and net profit of Rs 79,020 crore, RIL exhibited a relatively low value-to-revenue multiple of 1.9, thereby indicating its strong market standing amid a very competitive environment.

    The rankings also imitate the performance of different key players from each industry. The second position was bagged by Tata Motors with an annual growth of 27% from the previous year, as well as an unapologetic strong footing in the Automobile sector. They have an enormous revenue of Rs 4,43,878 crore.

    HDFC Bank stands third in the list with a revenue of ₹4,07,995 crore, achieving  an exceptional 99% YoY growth. With a value-to-revenue multiple of 3.5, it shows strong market valuation and dominance within Financial Services.

    Moreover, TCS's leadership is across the Software & Services sector. It has also reported revenues of Rs 2,45,315 crores with a value-to-revenue multiple of 6.6, thus validating its leadership.

    The 2024 Burgundy Private Hurun India 500 also brings out some important sectoral trends currently working on the Indian economy. Rs 18,700 crore was the average revenue of the 500 companies, 146 are above Rs 10,000 crore, while 32 companies have gone above Rs 50,000 crore. They generated more than 70% of profits in Energy, Financial Service, Software & Services, Automobile, and Healthcare sectors that were categorized as high profit-making industries.

    In terms of profitability, India's corporate giants are exhibiting tremendous growth, with the aggregate net profit of the 2024 Burgundy Private Hurun India 500 companies growing by 21% to Rs 8.2 lakh crore. RIL headed the profit charts with ₹79,020 crore, and HDFC Bank followed closely with Rs 65,447 crore, thereby strengthening its financial sector standing.



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