Forbes Global 2000 ONGC climbs 16 ranks to position at 155
Dated : 18 April 2013 10:14:33 PM
The much celebrated and widely awaited “The Forbes Global 2000” list was made public yesterday and as many 56 Indian companies (all with revenues in excess of $ 1 bn) featured on that list. And this year, ONGC has made an impressive jump of 16 places from last year’s position at 171 to be ranked 155 globally.
ONGC’s climb on the global rankings is a fitting reflection of the company’s strong operating performance and its robust financial fundamentals over the years. Especially 2012, which saw ONGC register a net profit of Rs 25,123 Crore, thereby making it the country’s most profitable business entity. Besides, ONGC, continued to remain comfortably lodged among the top three Indian companies in terms of market capitalization and, in the process, reinforced its position as the country’s largest PSU (M-Cap wise). ONGC’s Market Capitalization as published in the Forbes Global 2000 list is a whopping $ 50.5 bn.
Furthermore, with the adoption of Perspective Plan 2030, the business agenda of which is widely recognized to be rightly ambitious and quite forward-looking by the stakeholders of the company, that charts out the growth trajectory for ONGC for next 2 decades there can only be, assuredly, more pronounced spurt of activities and operations from the company promising to elevate its fortunes even higher. The recent overseas acquisitions in Azeri, Chirag and Deep Water Portion of Guneshli Fields in Azerbaijan& Kashagan Field in Kazakhstan, and its forays into LNG and Fertilizer business bear tell-tale signs of ONGC’s aggressive business intent for the days to come, as the company primes itself to be counted among the leading energy majors of the world.
The Forbes Global 2000 are public companies with the top composite scores based on their rankings for sales, profits, assets and market value. In their tenth annual ranking, ICBC is in the top spot for the first time. To see the complete list, please click here.