3 Punjab companies make way to latest Fortune 500 India rankings
Three companies from Punjab — Hoshiarpur-based International Tractors Ltd, Ludhiana-based Vardhman Textiles and Trident Group — have made their way to the latest Fortune 500 India rankings.
The Fortune 500 India is a ranking of the top 500 corporates in India compiled on the basis of latest sales and gross revenue figures.
With a total revenue of Rs 10,341 crore, International Tractors Ltd, the makers of Sonalika tractors, has secured 237th position.
Incorporated in 1996, it is the third largest tractor manufacturer in the country. It manufactures customised tractors and implements, which are developed as per region, as well as application centric requirements of farmers. It offers a diverse range of products from 20 to 120 horsepower, featuring Heavy Duty Mileage (HDM) and CRDS engines, multi-speed transmissions, and advanced hydraulics.
“Being recognised among Fortune 500 India’s largest companies is a moment of immense pride for us. The achievement is a testament to the relentless dedication and teamwork of our organisation,” said ITL Group vice chairman AS Mittal.
Meanwhile, Ludhiana-based Vardhman Textiles has secured 251st rank, down from 212th rank in 2023. With a total revenue of Rs 9,777 crore, Vardhman is the largest vertically integrated textile manufacturer in India. Annually, the company produce 2,40,000 metric tons of yarn and 220 million metres of woven fabric, providing direct employment to over 30,000 people.
Similarly, Trident Limited has made a notable leap in the latest rankings, climbing eight spots to secure the 321st position, up from 329th last year. This highlights Trident's strong performance across its diverse sectors, including textiles, paper, and energy.
In addition, Trident has also been recognised in the Dun & Bradstreet - D&B Top 500 Value Creators list.
Meanwhile, Oil-to-telecom-to-retail conglomerate Reliance Industries Ltd continues to be the at number one position with a staggering revenue of Rs 9,22,391 crore, followed by State-owned Life Insurance Corporation of India (Rs 8,60,795 crore) and Indian Oil Corporation (Rs 7,80,509 crore).
