Seven Indian companies have made it to Forbes Asia’s 'Best under a Billion' list of the top 200 publicly traded companies in the Asia-Pacific region.
The annual list honours companies in the region with annual revenue between $5 million and $1 billion, have positive net income and have been publicly traded for at least a year. The top-ranked candidates were screened from among 17,000 companies, based on their sales growth and earnings growth in the past 12 months and over three years, and for the strongest five-year return on equity.
With a market cap of $97 million, Mumbai-headquartered Byke Hospitality is among the Indian companies in the list. The other entries include Chennai-based pharma company Caplin Point Laboratories ($237 million market cap); contraceptives-maker Cupid Limited ($47 million market cap); Mumbai-based liquour manufacturer G.M. Breweries ($113 million market cap); Ahmedabad-based conglomerate Stovec Industries ($67 million market cap); NGL Fine-Chem ($22 million market cap); and telecom-infrastructure provider Suyog Telematics ($42 million market cap).
There is, however, a decline in the Indian representation in the list. Just five years ago, India had 35 companies among Forbes Asia’s ‘Best under a Billion’.
Companies from mainland China, Hong Kong and Taiwan accounted for 65% of the 2016 list. In terms of top countries featuring in ‘Best under a Billion’, a total of 98 companies were from China and Hong Kong; followed by Taiwan (32), South Korea (16), Japan (13), and India, Pakistan and Australia with 7 companies each. As many as 116 firms are new entrants among the top 200 publicly-traded companies.
Tim Ferguson, Editor of Forbes Asia, said: “Even if the Chinese economy continues to slow, the rest of Asia—if it is to carve out a bigger place on this SME all-star list—is going to find big markets for high-value goods and services. Maybe the ASEAN trade treaties can help.”
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Competitiveness among Asian companies is clearly dominated by Chinese companies. Asians are hardworking as survival is challenging. With co-operation and collaboration, these countries can create global companies by being open rather than closed in their ownership and partnering. Just like EU companies, Asian companies must learn to address bigger market in asia by collaborating and cooperating with local partners in other countries. They have complimentary skill sets. Why not leverage each other for the benefit of the customers.on Aug 5, 2016