Hay Group releases 'India's 50 Most Admired Companies' rankings
Global management consulting firm Hay Group India is pleased to roll out the inaugural edition of India's Most Admired Companies.
*A report card on corporate reputations in collaboration with FORTUNE India
*Tata Steel tops the rankings in the list
*Features sectoral ranking across 15 key sectors
New Delhi, March 06, 2012: Hay Group India brings the legacy of the Most Admired Companies to India as it ranks India's 50 Most Admired Companies for the first time. The Tata Group dominates, with three group companies featuring in the top ten list of India's most reputed companies. Tata Steel has topped the list, becoming India's most admired company. Tata Consultancy Services (TCS) has ranked top among companies in the IT, ITES, BPO industry and Tata Motors led in the automotive industry.
The rankings are done in partnership with FORTUNE India and have been published in the magazine's March issue. Corporations are rated on the parameters of consistency, quality, talent management, corporate governance, social responsibility and delivering value to investors. The cover story also includes the sectoral rankings, covering 15 key sectors.
Hindustan Unilever and Colgate Palmolive are placed at the second and the third place in the list followed by Cadbury India. No public sector undertaking features in the first top ten most admired companies. However, PSUs in the Oil and Gas sector like the ONGC, Bharat Petroleum Corporation and Indian Oil and Hindustan Petroleum are ranked 16th, 17th, 19th and 20th respectively in the list.
Gaurav Lahiri, Managing Director of Hay Group India, says "Hay Group India is pleased to partner with FORTUNE India to roll out the inaugural edition of India's Most Admired Companies. This initiative furthers the tremendous success of our collaboration with FORTUNE globally, on the World's Most Admired Companies rankings. The India list will prove to be a conclusive guidebook to corporate India's emerging and existing stars and it demonstrates the most progressive and effective market players across industries, as measured by company's peers within the industry."
D.N. Mukerjea, Editor, FORTUNE India Magazine, said "Just as the FORTUNE India 500 is the definitive benchmark of size, the ranking of India's Most Admired Companies is the stand-out indicator of reputation. I have always felt that reputation is the hardest to quantify, but it is the one characteristic that defines great corporations. Moreover, in times of economic uncertainty, a peer ranking such as this is a reassuring sign that India Inc is on the right track."
Voicing his congratulations to the winners, Kaushik Banerjee, Vice President, FORTUNE India, said "We are pleased to introduce India's first corporate report card, a clear pointer to the future. The ranking features corporations who are true value creators and continue to rule because of good practices."
Methodology
The companies were shortlisted from 15 industries on the basis of their size, contribution to national GDP, growth rate, maturity of industry, competition within the industry, the minimum number of players in the industry and their national presence.
The survey took into consideration a pool of 507 executives across 291 companies satisfying a set of qualifications, which included at least 12 years of work experience, five years of industry-specific experience, and three years in the current company. 11% of respondents were CEOs, chairpersons, or managing directors; 25% were CXOs, associate vice presidents, or vice presidents; and 64% were general managers. The survey was carried out from October 2011 to January 2012.
The peer rating method was used, where senior executives rated companies from their industry (other than their own company) across nine parameters that ranged from performance and investment value to talent management. For each company, based on the rating received, an average score was calculated first for each parameter, and then across all nine. This final score was the basis for the overall rating of a company within that industry, and subsequently, its rank within that specific industry. An overall cross-industry implied ranking was obtained by taking the average industry-rated scores for each company across the parameters.
FORTUNE India has been in engaged with the Hay Group since 1997 on the World's Most Admired Companies survey, using a similar methodology. Hay Group is a global management consulting firm that works with leaders to transform strategy into reality.
For further details, please contact:
Nidhi Mehra Kapoor
Email: nidhi.mehra@haygroup.com
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Unit 3, 15th Floor,
Tower C, Building no. 10,
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