MUMBAI: Reliance Industries Limited (RIL) has improved its rank by 51 places to secure 104th position in the latest Global 500 ranking of top 500 companies published by Fortune for the year 2022. In the year 2021, Reliance Industries Limited was placed at 155th position on Fortune's Global 500 list.
Mukesh Ambani-led RIL maintains its position as India's highest-ranked private sector company. In the latest Fortune Global 500 list, there are nine companies from India. Five of them are from the public sector, and four are from the private sector.
Only the debutant Life Insurance Corporation of India - a public sector company, which came out with an IPO last year - was ranked higher than Reliance Industries Limited in this year's ranking. Life Insurance Corporation of India is ranked at 98th position in the Fortune's Global 500 list. Life Insurance Corporation is the top-ranked among the Indian firms. LIC is the only Indian company which is ranked higher on the list than Reliance Industries Limited.
Reliance Industries Limited has been in Fortune's Global 500 list for the 19th year in a row, much longer than the other private sector companies in India. Other private sector companies that have found place in Fortune's Global 500 list are Tata Motors, Tate Steel and Rajesh Exports.
Fortune Global 500 list ranks companies by total revenues for their respective fiscal years ended on or before March 31, 2022. Reliance Industries Limited closed FY22 with record high consolidated revenues of Rs 792,756 crore, up 47 per cent, and EBITDA of Rs 125,687 crore, up 28.8 per cent year-on-year, with each of the O2C, Retail and Digital Services businesses posting all-time high revenues.
Indian Oil Corporation is ranked at 142nd position in Fortune's Global 500 list. IOCL is the third best ranked among the Indian companies. Oil and Natural Gas Corporation is ranked at 190th position. It is ranked fourth among the Indian companies. State Bank of India is ranked at 236th position and Bharat Petroleum at 295th position.