13
Indian Firms in
Asia's 100 Fastest-Growing
Thirteen Indian
firms have been
named in a list
of 100 fastest-growing
small and mid-size
Companies in Asia,
with some emerging
on top in terms
of sales and capital
returns.
According to 'Asia's
Hot Growth Companies'
list, prepared
by US-based financial
magazine BusinessWeek,
India is home
to a higher number
of such Companies
than China, whose
presence is limited
to just eight
firms. Besides,
India is next
only to Taiwan
and Japan, which
have been represented
by 24 and 18 firms
respectively.
There are 13 firms
from Hong Kong,
seven from Korea,
four from Malaysia,
nine from Singapore
and two from Thailand.
The single firm
from Pakistan
is Packages Limited,
a manufacturer
of paper products
is ranked at the
84th position.
Among the Indian
firms, Lakshmi
Machine Works
is ranked 17th,
followed by Kirloskar
Brothers (18th)
and Godrej Consumer
Products (23rd).
Other Indian Companies
named in the list
are Marico (40),
Colgate-Palmolive
India (45), Hexaware
Technologies (53),
GlaxoSmithkline
Pharmaceuticals
(60) Panacea Biotec
(68), Bajaj Hindustan
(72), Motherson
Sumi Systems (79),
Cummins India
(83), I-flex Solutions
(93) and Titan
Industries (98).
Hong Kong-based
Ajisen Holdings
has been ranked
at the top, followed
by Raffles Education
of Singapore.
In terms of highest
sales in 2006,
three Indian firms
-- Cummins India,
Titan Industries
and I-flex Solutions
are ranked first,
second and third,
respectively.
Cummins -- which
manufactures diesel,
gas, and dual
fuel engines for
power generation
and other industrial
purposes -- had
sales of 498.8
million dollars,
while Tata Group's
Titan Industries
recorded revenues
of 491.2 million
dollars.
Information technology
solutions provider
I-flex raked in
sales of 484.3
million dollars.
In terms of three-year
average return
on capital, Godrej
Consumer was ranked
on top across
Asia with 106.7
per cent. Godrej
Consumer and Marico
were named as
the second and
third biggest
Companies with
a return of 57.7
per cent and 57.2
per cent respectively
on the basis of
capital return
last year.
Based on market
value, I-Flex
was ranked at
second position
with a value of
about four billion
dollars.
The overall list
took into consideration
parameters like
sales, profit,
capital returns
and market capitalisation.
"They are
in decidedly less
sexy lines of
business, everything
from noodle shops
to chemical fiber
manufacturing.
But these Asia
stars do enjoy
some big advantages,
like relatively
high barriers
to entry and growing
demand from Asia's
newly affluent
consumers,"
the magazine said.
In an accompanying
report, BusinessWeek
said that annual
scorecard of top
100 small and
midsize businesses.
