Reliance Industries Achieves Record Rank in Fortune Global 500 List

Reliance Industries Achieves Record Rank in Fortune Global 500 List
Reliance Industries Achieves Record Rank in Fortune Global 500 List

In a display of resounding success, Reliance Industries, the brainchild of billionaire Mukesh Ambani, has surged to new heights within the esteemed Fortune Global 500 list. The conglomerate’s steadfast evolution is strikingly evident as it claims an unprecedented rank of 88 – a milestone achievement that signifies its robust standing and remarkable progress.

The ascent of Reliance Industries on the Fortune Global 500 ranking has been nothing short of remarkable. The company’s meteoric rise is vividly depicted by its 16-place jump from the previous year, vaulting from the 104th position in 2022 to its current enviable standing at 88. A sweeping comparison across a two-year span unveils an awe-inspiring climb of 67 positions, an astonishing leap from its 155th placement in 2021.

This year’s Fortune Global 500 list showcases the noteworthy presence of eight Indian companies. The state-owned Indian Oil Corporation (IOC) makes an impressive stride by surging ahead by 48 places to command the 94th position. Meanwhile, the iconic Life Insurance Corporation of India (LIC) exhibits resilience, even as it faces a slight dip by descending nine positions to rest at 107.

Among the stalwarts in the list, the Oil and Natural Gas Corporation secures the 158th position, while Bharat Petroleum Corporation Ltd and the State Bank of India follow suit, capturing the 233rd and 235th positions, respectively.

Tata Motors, propelled by its remarkable trajectory, takes an impressive leap of 33 positions, now proudly perched at 337. Another remarkable mover is Rajesh Exports, which ascends a remarkable 84 steps to claim the 353rd spot.

This resounding achievement of securing the 88th rank etches an indelible mark in Reliance Industries’ history, firmly establishing itself as a frontrunner in the Fortune Global 500 ranking. Notably, this year marks the 20th anniversary of Reliance’s consistent presence in this prestigious list – a feat unparalleled among India’s private sector companies.

The Fortune Global 500 ranking meticulously evaluates companies based on their total revenues for the fiscal years culminating on or before March 31, 2023. Reliance Industries, capping off an exceptional fiscal year, concluded FY23 with a remarkable display of strength, boasting consolidated revenues scaling a new zenith at Rs 9,76,524 crore, marking an impressive surge of 23.2%. Parallelly, EBITDA witnessed a parallel surge of 23.1%, culminating in Rs 1,54,691 crore. Remarkably, each of Reliance’s core sectors – O2C, retail, and digital services – commanded record-breaking revenues, standing as a testament to the company’s unwavering pursuit of excellence and innovation.