The Telegraph
Since 1st March, 1999
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BW Real 500 throws up a few surprises

Sept. 26: The BusinessWorld Real 500 rankings—the new totem pole on corporate rankings— puts Indian Oil Corporation at the top of the perch, which isn't surprising.

But the biggest surprise in the study—which ranks corporates on the basis of the average of their sales and assets combined, unlike competing lists that rank them on the basis of market capitalisation or sales—is that 142 companies are not listed at all.

The other interesting facet is that 104 of the 500 firms were born in the nineties and another 102 were incorporated in the eighties.

Bombay Dyeing, which was established in 1879, is the oldest company on the list.

Blame this on the downturn in the economy: the BW study shows that a fifth of the companies —115 firms —saw their revenues shrink last year while 93 saw a fall in assets.

Ranked by return on assets, Satyam Computers, Sterlite Optical Technologies, Bilag Industris, Infosys Ttechnologies and GTL were the top five value creators. Usha Ispat, IFB Industries, Koshika Telecom, Bharat Coking Coal and JCT were the five biggest value destroyers. The BW Real 500 doubble issue will hit the stands on September 30.

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