Tata Steel the flagship company of Tata Group, has jumped to 231 in the Fortune 500 ranking from 315. The Indian steel maker made its maiden entry to Global 500 Companies list released by Fortune magazine.
Fortune had earlier ranked Tata Steel at 315th position based on consolidated 9 months financial result of the company.
However, post the announcement of the Annual Results of Tata Steel, which was after the deadline of the publication of the Fortune magazine listing the Global 500 Companies, Fortune has placed the company at the 231st position.
Fortune magazine on its website has said, “Tata Steel's revenue for fiscal year end March 31, 2008 -- released by the company after the Global 500 publication deadline -- was $32.8 billion. Had the information been available, the company would have placed 231 on the list. The company ranked 315th in the listing, based on revenue for the four quarters ended Dec. 31, 2007, of $25.7 billion.”
Tata Steel has registered the biggest increase in revenues with a percentage change of 353.2 % from 2006. Tata Steel has registered revenue of $32.8 billion.