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These companies have 'staying power', says Forbes. "Our list is a mix of giant, established companies -- this year that list includes Australian miner BHP Billiton, Hong Kong conglomerate Noble Group and Indian oil and gas heavyweight Reliance Industries -- and smaller outfits such as Agile property Holdings, Anhui Conch Cement and digital China Holdings," Forbes Asia said in a statement.
China has the largest number of companies in the list with 16 companies.
The criteria for selection was at least $3 billion in revenue or a $3 billion market capitalization. The company's five-year track record for revenue, operating earnings and return on capital were taken into consideration for the ranking.
The recent results, share-price movements and the outlook for the year ahead were the other criteria for companies to make it to the prestigious list.
Check out the Indian companies that made it to the Forbes Asia's Fab 50 list. . .
The net profit of Reliance Industries dropped 11.5 percent to Rs 3,636 crore (Rs 36.36 billion) for the quarter ended June 30, compared to Rs 4,110 crore (Rs 41.10 billion) in the corresponding period last year.Market cap: $70.6 billion
Market cap as of Sept. 15, 2009.
The Bharti Group recently forayed into retail business with Wal-Mart for the cash and carry business.
It has successfully launched an international venture with EL Rothschild Group to export fresh agri products exclusively to markets in Europe and USA and has launched Bharti AXA Life Insurance Company Ltd under a joint venture with AXA.
Bharti Airtel reported a 4 per cent rise in net profit at Rs 2,239 crore (Rs 22.39 billion) for the quarter ending March 31, 2009.Market cap: $32.4 billion
Infosys Technologies Ltd was started in 1981 by seven people under the leadership of N R Narayana Murthy. It is one of India's largest IT companies that delivers technology-enabled business solutions that help global companies.
Infosys' offerings span business and technology consulting, application services, systems integration, product engineering, custom software development, IT infrastructure services and business process outsourcing
The net profit of the company stood at Rs 1,527 crore (Rs 15.27 billion) for the quarter ended June 2009.
Market cap: $26.8 billion
Sales: $4.2 billion
The company was established more than 40 years ago and the company has been making profits since 1971-72 and paying dividends since 1976-77.
Despite the recession, BHEL recorded an all time high turnover of Rs 28,033 crore (Rs 280.33 billion) in 2008-09.The company reported its highest ever net profit of Rs 3,138 crore (Rs 31.38 billion) in 2008-09.
Larsen & Toubro's net profit rose to Rs 1,598 crore (Rs 15.98 billion) in quarter ending June 2009 for the financial year 2008-2009 compared to Rs 502 crore (Rs 5.02 billion) in the same period the previous year.Market cap: $19.7 billion
Wipro has grown to be among India's top IT companies under the leadership of Azim Premji.Wipro started as a vegetable oil trading company in 1947.
For the quarter ended June 30, 2009, revenue of Wipro Limited business was Rs 627.4 crore (Rs 62.74 billion), a YoY growth of 5 per cent and PBIT at Rs 101.6 crore (Rs 10.16 billion), an increase of 12 per cent YoY.
Market cap: $16.9 billion
Sales: $5 billion
HDFC Bank net profit rose by 30.53 per cent to Rs 606.11 crore (Rs 6.06 billion) in quarter ended June 2009 for the financial year 2008-2009 compared to Rs 464.35 crore (Rs 4.64 billion) in quarter ended June 2008.Market cap: $13.3 billion
Tata Steel is among the top ten steel producers in the world. Established in 1907, it is the first integrated steel plant in Asia and the world`s second most geographically diversified steel producer and a Fortune 500 Company.
Tata Steel has global presence in over 50 developed European and Asian markets with manufacturing units in 26 countries.
Tata Steel has reported a 61 per cent drop in its consolidated net profit at Rs 4,849 crore for the year ended March 31, 2009, against Rs 12,322 crore registered in the same period last year
Market cap: $9 billion
Sales: $28.7 billion
The group has a presence in key sectors including the financial services, trade and logistics, automotive components, information technology and infrastructure development.
The net profit for the quarter ended June 30, stands at Rs 400.9 crore (Rs 4 billion) against Rs 159.3 crore (Rs 1.59 billion) in Q1 last year, a growth of 151.7 per cent.
Market cap: $5.5 billion
Sales: $5.1 billion
Axis Bank, formerly known as UTI Bank provides commercial banking services which include merchant banking, direct finance, infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury, investment banking, insurance, credit cards, mortgage financing, depository services and other related financial services.
Axis Bank's net profit rose by 70.2 per cent to Rs 562.04 crore (Rs 5.62 billion) in the quarter ended June 2009.Market cap: $6.7 billion
Today, the Adani business portfolio includes edible oil, logistics, power generation, coal, oil and gas exploration, gas distribution, real estate, ports, special economic zones and IT enabled services.
Adani Enterprises posted an over 36 per cent rise in its consolidated net profit to Rs 127.67 crore (Rs 1.27 billion) for the first quarter ended June 30.Market cap: $3.2 billion