The BT500 list will now focus on ranking the most profitable companies. Since 1992, the BT500 list has been ranked based on market valuation. As there are more listed companies now, Indian stock exchanges feature more than 4,000 profitable companies.
We began with a master sample of around 5,100 listed companies on the stock exchanges. About 240 companies that were not traded on at least 20% of the total 249 trading days in the July 2024-June 2025 period were excluded from the list. Thereafter, we extracted the consolidated profit after tax (PAT) of each company for FY25 and used it to rank the top 500 companies. For a deeper perspective, we compared the latest PAT with the previous year’s figure and have also provided the one-year average market capitalisation for the July 2024-June 2025 and July 2023-June 2024 periods. We also included profitability ratios such as EBITDA margin and PAT margin in the tables, as well as the shareholding pattern of the top 500 companies. For most companies, the financial year ending is March 31. The exceptions have been mentioned in the footnotes below the tables. All data has been sourced from the corporate database ACE Equity. Companies that reported their annual results post August 25 were not considered.
A few companies have also changed their names in the past year till June 30. For instance, Affle (India) is now known as Affle 3i, Sat Industries changed its name to Aeroflex Enterprises, Macrotech Developers to Lodha Developers, and Zomato to Eternal, among others. Among the top five players in terms of consolidated PAT, Reliance Industries held the pole position for the 11th straight year. State Bank of India, HDFC Bank and ICICI Bank, and Tata Consultancy Services emerged as the next big profitable companies in the country.
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