35 Indian companies in Forbes Asia's 'Best Under a Billion' list has
02 Sep 2011
Thirty-five Indian companies are ranked among the top 200 Asia-Pacific corporations in Forbes Asia's 'Best Under a Billion' list for this year, Forbes Asia said on Wednesday.
China and Hong Kong put together had 65 companies followed by 35 Indian companies that were part of the list.
The Indian companies that stood out are SRF, a multi-business entity engaged in the manufacture of chemical based industrial intermediates; Polyplex, the world's 4th largest producers of thin polyester film; and Glodyne Technoserve, an IT services company.
According to Forbes Asia, The Asia-Pacific list ranks public companies in the Asia-Pacific region with annual revenues between $5 million and $1 billion, have positive net income, and have been publicly traded for at least a year. They are then screened for earnings growth, sales growth and return on equity in the past 12 months and over three years.
Tim Ferguson, editor, Forbes Asia, said, "Essentially, these are our picks of the companies that have best managed through the economic volatility that began in 2008.
Most navigated the global credit crunch with little to no debt on their balance sheets. On average, the companies on the list have a 13 per cent debt-to-equity ratio and 67 of these companies carry no debt at all."