Key Highlights: -
* The cumulative value of companies from Karnataka stands at INR 23 lakh crore
* Big 3: With a value of INR 7.5 lakh crore, Infosys is Karnataka’s most valuable company, followed by Wipro with INR 3.7 lakh crore and BYJU’s with INR 1.4 lakh crore
* 29 companies doubled in value and 2 companies rose by INR 1 lakh crore from Karnataka in 2021 Burgundy Private Hurun India 500 List
* Software & Services and Financial Services led the way with 9 companies each, followed by Healthcare and Real Estate with 6 companies each.
* Total sales of companies from Karnataka in the 2021 Burgundy Private Hurun India 500 List cumulated to INR 5.2 lakh crore, equivalent to 31% of state’s GSDP
* The 2021 Burgundy Private Hurun India 500 companies from Karnataka employ 10.1 lakh people in total, with an average of 19,096 employees
* The average age of companies from Karnataka in this list is 17 years, i.e., founded in 2004
Burgundy Private, Axis Bank’s Private Banking Business and Hurun India launched the first edition of the ‘2021 Burgundy Private Hurun India 500’, a list of the 500 most valuable companies in India. These companies are ranked according to their value, defined as market capitalization for listed companies and valuations for non-listed companies. Hurun Report India and Burgundy Private launched a further analysis of most valuable non-state-controlled companies from Karnataka in the 2021 Burgundy Private Hurun India 500 List. The cut-off date to arrive at this list was 30th October 2021. This list refers to companies headquartered in India only; state-owned companies and subsidiaries of foreign companies are not included.
Amitabh Chaudhry, Managing Director and Chief Executive Officer, Axis Bank said: “Burgundy Private is delighted to partner with Hurun India in celebrating India’s 500 most valuable companies. We salute the leadership of these companies who have ably steered their businesses through the ravages of the pandemic, adopting new ways of serving their customers and emerging as winners. As India’s leading wealth management franchise, Burgundy Private has witnessed this value creation from close quarters.
The total value of the 2021 Burgundy Private Hurun India 500 companies is close to INR 228 lakh crore (US$3tn), which is higher than India’s GDP for FY21. The top line of these 500 companies is equivalent to 29% of India’s GDP and they employ up to 1.5% of the total workforce of the country. What is most heartening is that nearly 10% of these companies are younger than 10 years, representing India’s vibrant tech ecosystem. We believe that India’s new economy companies will witness greater representation in this list in the times to come. Axis Bank has been a partner to many names that find a mention in this report, and through our integrated ‘One Axis’ approach, we look forward to working closely with them as they achieve greater milestones in their journey ahead.”
Anas Rahman Junaid, MD and Chief Researcher, Hurun India said: “Hurun India is delighted to partner with Burgundy Private, Axis Bank’s Private Banking Business to release the 2021 Burgundy Private Hurun India 500. The first edition of Burgundy Private Hurun India 500 comprises of notable names ranging from startups such as InMobi, Zerodha, BYJU’S, Swiggy, Meesho, Ola Electric to veterans such as Infosys, Wipro and Mindtree. The report reflects the entrepreneurship spirit that the city harbors while positioning India as a preferred destination attracting investments for high-decibel growth.”
Methodology
The 2021 Burgundy Private Hurun India 500 is a list of the 500 most valuable companies that are headquartered in India. Government/ State-owned companies and subsidiaries of foreign companies are excluded. Although the cut-off date for the list is 30th October 2021, we have taken an exception for Paytm, Nykaa, Policybazaar, Sapphire Foods India, Latent View Analytics and Go Fashion for which we have considered the closing market cap of the listing day. The aforementioned companies were in the process of going public/ getting listed during the cut-off date.
Valuing private companies is as much an art as it is a science. Surely, Hurun India may have missed some companies, but our endeavor is to develop the most comprehensive report of its kind with an objective to identify and acknowledge India’s top businesses. Hurun Report’s team of researchers have traveled the length and breadth of the country, cross-checking information with entrepreneurs, industry experts, journalists, bankers and other sources of publicly available data.
For unlisted companies, Hurun Research’s valuation is based on a comparison with their listed equivalents using prevailing industry multiples such as Price to Earnings, Price to Sales, EV to sales, EV to EBITDA. Other methodologies such as Discounted Cash Flow and Tobin’s Q are also used. In certain cases of early- stage companies, Hurun used the First Chicago Method for valuation. Financial information used is from the latest available annual reports or audited financial statements.
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