Seven new entrants to $1 billion club

Seven companies joined the $1 billion turnover club in 2003-2004, taking the club's membership to 48 companies. 
 
The new entrants are Wipro, Infosys Technologies, Bharti Tele-Ventures, Adani Exports, State Trading Corporation and Mahindra & Mahindra, whose results were announced on Monday. 
 
Of the 48 members of the club, 41 are listed companies; seven are unlisted. The club's membership is based on Monday's closing exchange rate of Rs 45.48 per dollar. 
 
STC tops the new entrant list with sales of $1.80 billion [Rs 8193.54 crore (Rs 81.93 billion)], followed by Adani Exports [$1.56 billion or Rs 7078.35 crore (Rs 70.78 billion)], Wipro [$1.13 billion or Rs 5168.50 crore (Rs 51.68 billion)], Bharti Tele-Ventures [$1.10 billion or Rs 5002.48 crore (Rs 50.02 billion)], Mahindra & Mahindra [$1.09 billion or Rs 4959.10 crore (49.59 billion)], Infosys Technologies [$1.05 billion or Rs 4,760.89 crore (Rs 47.61 billion)] and United Bank of India [$1 billion or Rs 4,516.31 crore (Rs 45.16 billion)]. 
 
Still, Indian Oil Corporation, whose financial results for 2003-2004 are yet to be announced, remains top dog in the billion-dollar club, with sales of $ 26.4 billion as on March 31, 2003. The company reported sales of $30 billion in the nine months ended December 2003, or $40

billion on an annualised basis. 
 
Reliance Industries tops the private sector list with sales of $16.36 billion [Rs 74,418 crore (Rs 744.18 billion)]. The State Bank of India, with interest income of $6.70 billion [Rs 30,460 crore (Rs 304.60 billion)] tops in the banking sector. 
 
Steel Authority of India tops the steel sector with sales of $5.47 billion while ITC tops the fast moving consumer goods industry with sales of $2.65 billion. Tata Motors with $3.41 billion in sales leads in the automobile industry.