In its financial results announced Tuesday, telecom operator Vodafone India claimed that it is the second largest MNC (multinational company) in India with total revenues of Rs 42,526 crore for the financial year ended March 2015. Vodafone India's standalone revenues between April 2014 and March 2015 grew 12.6 per cent.
Currently, Vodafone India's size is second only to Maruti Suzuki, which clocked revenues of Rs 50,802.22 crore in 2014/15. The Japanese automobile company Suzuki has 56.21 per cent stake in the country's largest automaker as on March 2015.
For several years now, Vodafone India has been talking about becoming the largest MNC in the country. However, the 14 per cent revenue growth registered by Maruti Suzuki in the last financial year has further increased the lead between #1 and #2.
However, snapping at Vodafone India's heels is Samsung India Electronics. According to Ministry of Corporate Affairs (MCA) data, Samsung India recorded total income of Rs 40,392 crore in 2013/14, which was higher than Vodafone India's 2013/14 total revenues of Rs 37,777 crore. Samsung India's 2014/15 revenues are not available at the moment.
Also, the rate at which Samsung India has grown in recent years is significantly higher than Vodafone India. For instance, Samsung India's total income grew 40 per cent between 2011/12 and 2012/13, and 45 per cent between 2012/13 and 2013/14. In comparison, Vodafone India's service revenues grew 11.1 per cent between 2011/12 and 2012/13, and 13 per cent between 2012/13 and 2013/14.
The British telecom major Vodafone, which bought 67 per cent stake in Hutchison Essar at an enterprise value of $19.3 billion in 2007, has so far invested around Rs 83,000 crore in India. Last year, the company acquired 100 per cent stake in its India unit. It has a total subscriber base of 183.8 million, with over 53 per cent of them in rural areas.