CA Foundation Business & Commercial Knowledge Study Material – Overview of Indian Companies

CA Foundation Business & Commercial Knowledge Study Material Chapter 3 Business Organizations – Overview of Indian Companies

Students of chartered accountancy course, Management, company secretary course, commerce and other similar courses are expected to be familiar with developments in the corporate sector. They can keep in touch with these developments from financial newspapers (Economic Times, Financial Express, Mint, etc.), journals (Business Today, Business India, Business week, etc.), Business channels on television (Zee Business, CNBC, etc.) and websites of companies.
The Overview of selected Indian and Global Companies is given in this chapter to familiarize the students with the corporate sector. Students can get more information by visiting the websites of the companies.

Overview of Indian Companies



  • Year of Incorporation: 1942
  • Head office Chairman: Mumbai, India
  • Chief: Ashwin Choksi
  • Executive Officer (CEO): KBS Anand
  • Website:

History: Four friends – Champaklal H Choksev, Chimanlal Choksi, Surya Kant C, Dani and Arvind R. Vakil set up a partnership firm to manufacture and sell paints in 1942. The firm was later on converted into a company. Asian paints has been a market leader in paints since 1967.
Philosophy: The aim of Asian paints is to become one of the top five decorative coatings companies in the world through its expertise in the emerging markets having high growth. It also seeks to build value in industrial coatings through alliances with global partners.
Business portfolio: Asian paints produces and sells wide range of paints for domestic, office .and industrial use. It operates in all the four segments (interior wall finishes, exterior wall finishes, enamels and wood finishes) in decoration paints
Operations: Asian Paints has 26 factories in 19 countries and serves consumers in more than 65 countries. It is India’s largest and Asia’s fourth largest paint company. Its main competitors are Kansai Nerolac Paints, Berger Paints (India) Ltd. & Jenson & Nicholson (India) Ltd. and Shalimar Paints Ltd. The Company employs more them 6000 people and its revenue in 2015-16 was Rs. 15,852 crore.
Developments: In August 2013, Asian Paints acquired 51 % stake in sleek group, a provider of kitchen solutions. In June 2014, the company acquired Ess Ess Bathroom Products Pvt. Ltd. Asian Paints is the winner of “Golden Peacock Award” in paints industry. In 2016 it was ranked 20th best Indian brand. Forbes listed it as the most innovative company in 2016.



  • Year of Incorporation: 1993
  • Head Office: Mumbai, India
  • Chairman: Sanjiv Misra
  • Chief Executive: Shikha Sharma
  • Website:

History: Unit Trust of India (UTI), Life Insurance Corporation of India (LIC) and public sector general insurance companies jointly set up the Axis Bank in 1993. It began operations as the first new generation private sector Bank in 1994.
Philosophy: Vision: To be the preferred financial solutions provider excelling in customer service through empowered employees and smart use of technology.
Core values: Customer centricity, ethics, transparency, team work and ownership.
Business portfolio: Axis Bank operates in retail banking, corporate banking and international banking segments. It has ten wholly owned subsidiaries.
Operations: Axis Bank is the third largest private sector bank in India. It has 3120 branches and 12922 ATMs in India. It employs more than 50000 people. The Bank provides the entire range of financial services to individuals and business enterprises. It has nine foreign offices. During 2015-16, it had revenues of 50,360 crores.
Developments: Asia money ranked Axis Bank the best domestic bank in 2015. In the same year the Economic Times ranked it No. 1 promising banking brand. In 2017 Axis Bank has been adjudged runner up in best payments initiative by the IBA Banking Technology Awards.



  • Year of Incorporation: 1945
  • Head Office: Pune, India
  • Chairman: Rahul Bajaj
  • Chief Executive: Rajiv Bajaj
  • Website:

History: Jamnalal Bajaj set up Bajaj Auto in 1945. It obtained a licence in 1959 to manufacture two wheelers and three wheelers. It became a public limited company in 1961.
Philosophy: Vision: To become a world class vehicle company through value added products for customers

  • focus on value based manufacturing
  • continuous improvement
  • total elimination of waste
  • pollution free and safe environment

Operations: Bajaj Auto operates in three segments – motor cycles, three wheelers and low cost cars. It is one of the world’s top manufacturers of motorcycles. It is the world’s largest three wheelers manufacturer. It operates in 50 countries and is India’s largest exporter of motor cycles and three wheelers. It employs 9000 people and clocked revenue of ? 22967 crores in 2015-16. Bajaj Auto entered into global alliance with Triumph Motorcycles of UK in August 2017.



  • Year of Incorporation : 1995
  • Head office : New Delhi, India
  • Chairman : Sunil Mittal
  • Chief Executive: Gopal Vittal
  • Website:

History: Sunil Mittal launched Bharti Cellular Ltd. in Delhi 1995 to offer telecom services under the brand name Airtel. It became the first telecom company in India to achieve 2 million mobile subscribers.
Philosophy: Vision: To enrich the lives of customers
Mission: To win customers for life by providing exceptional experience.
Business portfolio: Bharti Airtel operates in all segments – Telemediary digital TV, enterprise solutions, Mobile data services.
Operations: Bharti Airtel is a leading telecommunications company in the world. It operates is 20 countries across Asia and Africa. It is the largest mobile network operator in India and the third largest in the world. It has 400 million subscribes. It employs 25400 people and had revenues of Rs. 966.021 million in 2015-16.
Developments: Bharti Airtel launched its 4G service in Africa in 2015. It also entered into strategic alliance with China Mobile. It acquired Telenor India and 4G business of Trikona Networks. In 2017 Bharti Airtel and millicom combined their operations in Ghana.



  • Year of Incorporation : 1935
  • Head office : Mumbai, India
  • Chairman : Y.K. Hamied
  • Chief Executive : Umang Vohra
  • Website :

History: Khwaja Abdul Hamid founded the Chemical Industrial and Pharmaceutical Laboratories in 1935. The company’s name was changed to Cipla Ltd. in 1984. USFDA approved its bulk drug manufacturing facilities in 1985.
Philosophy: Vision: To be the first global biotech company to provide high quality products at affordable prices that will enable access for millions of patients worldwide by 2015.
Mission: To be a leading health care company which uses technology and innovation to meet everyday needs of all the patients.
Business portfolio: Cipla manufactures more than 200 generic ingredients and about 1300 pharma and personal care products.
Operations: Cipla has 1500 products in more than 60 therapeutic categories. It offers prescription drugs for all kinds of ailments. It sells in more than 150 countries and maintains highest quality standards. It has more than 22000 employees and earned revenue of Rs. 11,965 crores is 2015-16.
Developments: Cipla acquired 75% stake in Mabhuru Private Limited. In 2012 it received the Thompson Reuters India Innovation Awards.



  • Year of Incorporation: 1984
  • Head office: Hyderabad, India
  • Chairman: Kallam Satish Reddy
  • Chief Executive: G.V. Prasad
  • Website:

History: In 1984 Dr. Reddy’s started producing Active Pharmaceutical Ingredients (APIs). In 1986 it began producing branded formulations. The company launched Violet brand in 1987. It transformed itself from a supplier of pharmaceutical ingredients into a manufacturer of pharmaceutical products.

  • To bring expensive medicines within reach
  • To address unmet needs of patients
  • To help patients manage disease better
  • To work with patients to help them succeed.

Business portfolio: Dr. Reddy’s produces both generic and over the counter drugs. In the generic segment, its products include tablets, capsules, injectables and topical creams. In the over-the-counter segment, there are pain relievers, dermatology, allergy and gynaecology medicines.
Operations: Dr. Reddy’s produces and sells a wide range of products (more than 190 medications and 60 APIs. It is an Indian multinational in pharmaceutical industry. In 1999 it acquired American Remedies Ltd. It has more than 20,400 employees and its turnover in 2015-16 was Rs. 15,698 crores.
Developments: Dr. Reddy’s was listed among India’s most trusted brand in 2014.



  • Year of Incorporation: 1994
  • Head Office: Mumbai, India
  • Chairman: Deepak S. Parekh
  • Chief Executive: Aditya Puri
  • Website:

History: HDFC Bank was incorporated in 1994 as a private sector bank. .
Philosophy: To be a world class Indian bank. Its core values are customer focus, operational excellence, product leadership, people and sustainability.
Business portfolio: HDFC BANK operates in both retail and wholesale segments. It is a part of the HDFC group.
Operations: HDFC BANK has more than 90500 employees. Its revenue in 2015-16 was Rs. 74373 crores.
Developments: In 2000, it acquired the Times Bank. It took over the Centurion Bank in 2008. HDFC Bank was awarded the Best performing Bank in microfinance among private sector banks in 2016.



  • Year of Incorporation: 1994
  • Head office: Mumbai, India
  • Chairman: M.K. Sharma
  • Chief Executive: Chanda Kochhar
  • Website:

History: Originally, ICICI Limited set up the ICICI Bank as a wholly-owned subsidiary. Later on, the shareholding was reduced through public offer of shares.
Philosophy: Vision: To be the leading provider of financial services in India and a major global bank.

  • To be the banker of first choice for our customers by providing high quality, world class services.
  • To expand our business globally.
  • To maintain a healthy financial profile and diversify our business.
  • To maintain high standards of governance and ethics.
  • To create value for our stakeholders.
  • To contribute to the countries and markets in which we operate.

Business Portfolio: ICICI Bank has all types of banking products and services.
Operations: ICICI Bank is the largest private sector bank with a network of 4850 branches and 13582 ATMs across India. It has branches in several countries abroad. It has more than 75000 employees and in 2015-16 its revenue was US $ 10.3 billion.
Developments: ICICI Bank acquired the Bank of Rajasthan in 2010. It was ranked first among private sector banks in 2016.



  • Year of Incorporation: 1981
  • Head Office: Bengaluru, India
  • Chairman: Nandan Nilekani
  • Chief Executive: S.S. Parekh

History: N.R. Narayan Murthy and six other software engineers founded Infosys Consultants Pvt. Ltd. in 1981 with a capital of Rs. 10,000 in Pune. In 1983 the company’s head office was shifted to Bengaluru. In April 1992 its name was changed to Infosys Technologies Pvt. Ltd. In June 1992 it became a public company and was renamed Infosys Technologies Limited. In June 2011, its name was changed to Infosys Limited.
Philosophy Vision: To be a globally respected corporation that provides best of breed business solutions, delivered by best in class people leveraging technology.
Mission: To achieve our objectives in an environment of fairness, honesty, and courtesy towards our clients, employees, venders and society at large.
Business Portfolio: They key products of Infosys are:

  1. Mana-Knowledge based AI platform
  2. Infosys Information Platform (IIP)
  3. Finacle-Global banking platform
  4. Edge Venue Systems
  5. Panaya Cloud Suite
  6. Skava

The company provides software development, maintenance and independent validation services.
Operations: Infosys is a multinational corporation that provides business consulting, information technology and outsourcing services. It is a global leader in technology and consulting services. It has 85 marketing officers and 114 development centres in 50 countries. Its employees are more than 2 lakhs and its revenue in 2015-16 was US $ 10.21 billion.
Developments: Infosys took over Noah-consulting of USA in November 2015. In March 2015 it acquired Panaya Inc and Skava in June 2015



  • Year of Incorporation: 1910
  • Head Office: Kolkata, India
  • Chairman: Y.C. Deveshwar
  • Chief Executive: Sanjiv Puri
  • Website:

History: In 1910 Imperial Tobacco Company of India Private Limited was set up. It was converted into a public limited company in 1954. In 1970 its name was changed into Indian Tobacco Company Limited which was renamed as ITC Limited in 1974.
Philosophy: Vision: To sustain ITC’s position as one of India’s most valuable corporations through world class performance, creating great value for the Indian economy and company’s stakeholders.
Mission: To enhance the wealth generating capability of the enterprise in a global environment, to deliver superior and sustainable stakeholder value.
Core values: Trusteeship, customer focus, respect for people, excellence and innovation.
Business portfolio:

  • Tobacco products
  • Hotels
  • paper boards and packaging
  • fast moving consumer goods
  • Agribusiness
  • Information technology

Operations: ITC Ltd. is an Indian conglomerate. It is rated among the world’s best companies. Forbes Magazine rated it as world’s most reputed company. It was rated India’s most admired company” by fortune magazine. ITC is among fastest growing fast moving consumer goods companies in India. It has more than 32000 employees and its revenue in 2015-16 was Rs. 53748 crores.
Developments: ITC has been recognised for its e-choupal initiative, corporate Social Responsibility, corporate governance and most trusted brands.



  • Year of Incorporation: 1938
  • Head office: Mumbai, India
  • Chairman: A.M. Naik
  • Chief Executive: A.M. Naik
  • Website:

History: Two Danish engineers taking refuse in India founded L&T in 1938.
Philosophy: To be a professionally managed Indian multinational, committed to total customer satisfaction and to enhance shareholder value.
Business Portfolio: L&T is a highly diversified global company. It has more than ten segments such as construction, heavy engineering, power, technology, etc.
Operations: L&T has 130 subsidiaries and 15 associate companies. It has manufacturing facilities in more than 8 countries and customers in 30 counties across the world. It has more than 1,10,000 employees and its revenue in 2015-16 was Rs. 1,02,632 crores.
Developments: Forbes ranked L&T among the world’s 2000 largest and most powerful companies. It has been awarded for leadership, quality and governance. Harvard Business Review named A.M. Naik as 32nd best performing CEO in the world.



  • Year of Incorporation: 1966
  • Head Office: Mumbai, India
  • Chairman: Mukesh Ambani
  • Chief Executive: Mukesh Ambani
  • Website:

History: Dhirubhai Hirachand Ambani founded Reliance Commercial Corporation in 1961. In 1966, Reliance Textiles Industries Private Limited was incorporated. In 1975 it became a public Limited company. In 1985 Reliance Textile Industries Ltd. was renamed Reliance Industries Ltd. (RIL)
Philosophy: Vision: To touch the lives of people in a positive way through inclusive growth.
Mission: To grow as a responsible organisation that believes in enriching the lives of those around it.
Business Portfolio: Textiles, petrochemicals, petroleum, life sciences, telecommunications, mass media, retail.
Operations: RIL is a conglomerate and India’s largest private sector company. It has more than 24,000 employees and more than 30 lakhs shareholders. Its revenue in 2015-16 was Rs. 2960 billion.
Developments: RIL acquired TV 18 Broadcast in May 2014. It was ranked 215th in the Fortune Global 500 corporations in 2016. Forbes ranked it 121st in the world’s largest corporations. Platts ranked it 8th among the top 250 global energy companies. In 2017, RIL launched its JIO telecommunications service.



  • Year of Incorporation: 1806
  • Head Office: Mumbai, India
  • Chairman: Rajnish Kumar
  • Chief Executive: Rajnish Kumar
  • Website:

History: In 1806 the Imperial Bank of India was founded in Kolkatta. In 1955 it was renamed State
Philosophy: Vision: My SBI, My customer first, My SBI: First in customer satisfaction
Mission: We will be:

  • Pompt, polite and proactive with our customers
  • Speak the language of young India
  • Create products and services that help our customers achieve their goals
  • Go beyond the call of duty to make our customers feel valued
  • Be of service even in the remotest part of our country
  • Offer excellence in services to those abroad as much as we do to those in India
  • Imbibe state of the art technology to drive excellence.
  • Business portfolio: SBI operates in personal banking, NRI services agriculture, corporate banking, small and medium enterprises, government business and interest rate services.

Operations: SBI is the largest commercial bank. It is a multinational banking and financial services company with majority membership with the Government of India. SBI has 14 regional hubs, 57 Zonal offices, 14000 branches and 58500 ATM all across the country. In addition, it has 191 foreign offices spread across 36 countries. It has more than 2,22,000 employees and its revenue in 2015-16 was Rs. 273460 crores.
Developments: On April 1, 2017, five associate banks merged into SBI. In 2013, SBI was ranked 50th most trusted brand in India. It was listed 232nd among fortune 500 global corporations. Forbes ranked SBI 29th most reputed company in the world in 2009.



  • Year of Incorporation: 1868
  • Head Office: Mumbai, India
  • Chairman: Natrajan Chandra Sekran
  • Chief Executive: N. Chandrasekaran
  • Website:

History: Tata Sons Ltd.
Philosophy: Values: Integrity, excellence, unity and responsibility
Mission: To improve the quality of life of the communities we serve globally through long-term stakeholder value creations based on leadership with trust.
Business portfolio: Tata Sons Ltd. is the holding company of 29 publicly listed companies in the Tata group. The group operates in steel, vehicles, defence, aerospace, realty and infrastructure, consumer and retail, financial services, hotels, airlines, telecommunications, information technology, etc.
Operations: Tata Sons is India’s biggest conglomerate. It is a global giant comprising more than 100 companies. It operates in more than 100 countries across six continents.
Developments: Tata Steel acquired Corns of UK in 2007, Tata Motors took over Jaguar and Landrover brands. Tata Chemicals acquired British Salt in 2010. Tata Power acquired Welspun Renewables Energy in 2016 and Energy Projects Limited in 2014. Tata Sons has decided to convert itself into a private company on 20th September 2017.



  • Year of Incorporation: 1945
  • Head Office: Bengaluru, India
  • Chairman: Azim Premji
  • Chief Executive: Abidali Neemuchwala
  • Website:

History: Mahamed Premji founded Western India Palm Refined Oil Limited on December 29, 1945 in Jalgaon, Maharashtra. Later on the company was renamed Wipro Products Limited in 1980. Wipro entered information technology sector and its name was changed in 1982 into Wipro Limited.
Philosophy: Vision: To be among the Top 10 global IT and BPO services company.
Mission: To create a new kind of professional services firm that works with both business and IT executives to innovate and deliver, end-to-end solutions that create reasonable value for own clients.
Business portfolio: Analytics, digital cloud, application, business process consulting, enterprise architecture, eco-energy, information management infrastructure, internet of things, mobility, open source and product engineering.
Operations: Wipro Ltd. is a global IT, Consulting and outsourcing company with clients in more than 175 cities across 6 continents. It has more than 55 centres of excellence to harness the latest technology. Wipro is recognised for its innovative approach all over the world. The company has strong commitment to value creation and sustainability. It has more than 1,75,000 employees and its revenue in 2015-16 was US $ 7.7 billion.
Developments: Wipro was ranked number one in sustainability in 2010. It was ranked 155th in Forbes Global list of 2010 companies in 2016. It was recognised as one of the world’s most ethical companies six times.


Business Group Current Mcap ($ bn.) Current Mcap (₹ cr.) Year Ago (₹ cr.) % Cng
Tata 133.80 8,56,572 8,71,431 1.71
Reliance 83.70 5,35,825 3,55,863 50.57
Aditya Birla 53.77 3,44,220 2,51,326 36.96
Bajaj 49.57 3,17,317 2,24,700 41.22
Vedanta 48.00 3,07,324 1,87,013 64.33
Bharti 37.35 2,39,109 1,97,557 21.03
Kotak Mahindra 29.55 1,89,151 1,48,141 27.68
Mahindra 26.03 1,66,657 1,67,355 -0.42
Hinduja 21.67 1,38,736 98,963 40.19
Sun Pharma 19.75 1,26,428 1,95,846 -35.45
Adani 19.26 1,23,301 76.260 61.69
Shiv Nadar 18.99 1,21,550 1,10,854 9.65
Godrej 15.40 98.574 74,577 32.18
Eicher 13.49 86,833 61,833 39.62
Munjal (Hero) 13.11 83,940 73,119 14.80
Indiabulls 11.93 76,383 43,123 77.13