OMCs struck oil with inventory gains. Bharat Petroleum's profits zoomed over 400% y-o-y. Metals and pharma players made merry, dominating the list across tiers in the Fortune 500 rankings.
NBFCs grew at a slower pace due to muted demand and Covid disruptions. HDFC was the top NBFC, government-owned PFC, REC, Nabard and LIC Housing Finance made it to the Fortune 500 list.
India Inc reduced net debt by nearly 30% and gross debt by 17% in FY21. Reliance still topped the debt chart in the Fortune 500 rankings, followed by NTPC, Power Grid Corporation.
Cash and cash equivalents of listed companies rose 13% in FY21. Tata Motors topped the list of cash-rich companies with Rs 46,972 crore, followed by Infosys and RIL in the Fortune 500 rankings.
Metals and pharma logged the fastest growth in revenue in FY21. Max Healthcare's revenue rose over 130% while Bharti Airtel led the top tier in Fortune 500 rankings.
The pandemic notwithstanding, State Bank of India had a robust year, with deposits growing and advances rebounding, leading the Fortune 500 rankings. Private lenders ICICI Bank and HDFC Bank follow.
Increased technological adoption saw IT majors ramp up hiring - TCS, Infosys and Wipro together hired over 70,000 employees in FY21. RIL was sixth biggest employer in the Fortune 500 rankings.
Fortune 500 companies deliver their highest-ever profit growth of 75%, while revenues fall year-on-year for the first time since the beginning of India listing in 2010.
