India is a rapidly industrializing nation that adopted a mixed economic structure after gaining its independence, with the government still having a significant role in a number of important sectors. In fact, four of the seven Indian companies that made it onto the most recent Global Fortune 500 list for 2019 are from the public sector. The top five publicly traded Indian state-owned businesses are examined in this article. Public Sector Undertakings (PSUs) are businesses that are majority owned by the government and are listed here.
A Best public sector company is one in which the government owns most of the stock. There are currently more than 250 public-sector businesses succeeding in their specialized industries. Some of these public-sector companies are classified as Maharatna, Navratna, or Miniratna (Category I and Category II). Companies that meet requirements set by the government, such as annual reporting, net worth, and benefits, are given these statuses. Public sector Companies not only produce excellent goods but also generate many job opportunities.
List of Top 10 Best Public Sector Companies in India 2023
India Oil Corporation Limited. (NSE: IOC; BSE: 530965)
Indian Oil’s 2018 revenues totaled $77.6 billion, a growth of 17.7%, as reported by the 2019 Global Fortune 500 list based on those figures.
India is the third-largest energy consumer in the world, and Indian Oil is the nation’s most prominent energy company. Since its inception in 1959, the company has focused primarily on refining, moving, and selling petroleum products. The company employs over 33,000 people and is the biggest duty and tax payer in terms of contributions to the national exchequer. The refinery’s throughput increased to 69 MMT in the 2018 fiscal year from 65.19 MMT the prior year, and its net profit rose to 213 billion rupees from that amount.
Bharat’s sales generated $42.9 billion in revenue in 2018, an increase of 16.5 percent from the previous year, and made 1.1 billion in profits.
In 1952, BPCL was founded, and the Indian government took control of the company in 1976. Additionally to selling petroleum products, it runs crude oil refineries in Kochi and Mumbai. Due to its network of more than 14,000 fuel stations, the company logo is a common sight on Indian roads. With a net profit of 79 billion rupees for the 2018 fiscal year, its refinery’s crude throughput increased to 28 point 54 MMT from 25 point 39 MMT the previous year.
State Bank of India (BSE: 500112, NSE: SBIN)
The State Bank of India, which is ranked as the 236th largest company in the world, had revenues of $47.3 billion in 2018.
India’s largest commercial bank was originally the Imperial Bank of India, founded in 1921, and has its headquarters in Mumbai, the nation’s financial hub. In 1955, the Indian central bank acquired a controlling stake in it. In 2007, the central government received the central bank’s 59.7 percent ownership interest. SBI has over 28 trillion rupees in deposits, has issued 260 million debit cards, and operates a nationwide network of 59,541 ATMs. During the 2018 fiscal year, it reported a net loss of 65 billion rupees.
India Petroleum Corporation Ltd. (BSE: 500104, NSE: HINDPETRO).
Hindustan Petroleum was established in 1974 after the government acquired two private sector refining businesses. Hindustan Petroleum is involved in refining crude oil and marketing petroleum products. In the 2018 fiscal year, it saw its highest-ever net profit of 63 billion rupees and refining throughput of 18.3 MMT. In India, it holds about 25% of the market.
Corp. of Oil and Natural Gas. (BSE: 500312, NSE: ONGC)
India’s top upstream oil company, ONGC, was established by the government in 1956. It is also one of the most successful PSUs in the nation. In addition to producing 1.2 million barrels of oil equivalent per day, it also found 83 percent of the nation’s proven reserves. Without including its stake in joint ventures, it produced 22.31 MMT of crude oil during the 2018 fiscal year, reporting a net profit of 199 billion rupees.
BPCL, or Bharat Petroleum Corporation Limited
Government-owned oil and gas producers and explorers include Bharat Petroleum Corporation Limited (BPCL). Its headquarters are in Mumbai, Maharashtra, and it is owned by the Indian government’s Department of Petroleum and Gas.
It runs two significant refineries in Mumbai and Kochi. The second-largest state-owned downstream oil company in India was ranked 309th on Fortune’s list of the largest companies in the world in 2020 and 792nd on the Forbes Global 2000 list in 2021.
Bharat Heavy Electricals Limited
Bharat Heavy Electricals Limited, a public company founded in 1964 specialising in producing industrial and electrical equipment, is the following in the list of public companies. Boilers, steam turbines, transmission systems, transformers, and switchgear are just a few of the company’s products.
BHEL, with its headquarters in New Delhi, has more than 15 manufacturing and repair facilities in India. Additionally, BHEL exports a variety of goods to over 20 nations worldwide.
Gas Authority of India Ltd. was renamed to GAIL (India) Limited. The processing and distribution of natural gas in India is handled by, a state-owned producer and natural gas exploration company. Its headquarters are in New Delhi, India’s GAIL Bhawan.
Indian Ministry of Petroleum and Gas owns it. Natural Gas, hydrocarbon liquids, LNG transportation, petrochemicals, municipal gas distribution, renewable energy including solar and wind power, exploration and production, petrochemicals, GAILTEL, and power generation are some of its business segments.
A government-owned mineral producer is called NMDC Limited (previously known as National Mineral Development Corporation). The Indian Ministry of Steel is the owner of it. takes part in the discovery of minerals such as iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, tin, tungsten, and graphite.
With more than 35 million tonnes of iron ore produced annually from three mechanized mines in Chhattisgarh and Karnataka, it is both India’s largest producer and exporter of iron ore. At Panna in Madhya Pradesh, it also manages the sole mechanized diamond mine in the nation. By the middle of 2022, the Nagarnar iron and steel plant will be spun off by NMDC, and the newly formed company will be listed.
The Power Finance Corporation Limited (PFC), established in 1986 and committed to providing financial support for infrastructure projects involving energy and other sectors, is ranked tenth.
PFC is a Navratna-based business with 9 subsidiaries that offer financial services and is the recipient of the CBIP award for Best Energy Financing Company.