Adani Gas down 74% in 6 months, Serum Institute most valued unlisted firm

The total value of the top 500 companies in India declined marginally by 6.4% to Rs 212 trillion from Rs 227 trillion as of October 30,2022.

The valuation of Adani Group's eight companies have more than halved in the six months to April 2023 against just a 6 per cent decline in the top 500 non-government companies, according to the ‘Burgundy Private Hurun India 500-Special Report’, a list of the 500 most valuable non-state-owned companies in India.

Adani Total Gas lost 73.8% ( Rs 2,92,511 crore) and reached a value of Rs 1,03,734 crore, while Adani Transmission saw a decline of 69.2 per cent ( Rs 2,58,493 crore) while Adani Green Energy was down by 54.7 percent ( Rs 182, 306 crore) in the same period, said the report. 

The eight companies in the Adani Group have a combined value of Rs 9.5 lakh crore and constitute 4.5 percent of the total value of 500 top companies. Collectively they  have shed 52% or Rs 10,25,955 crore. 

The report is based on the data from October 30, 2022 to April 30, 2023.

Tata Group with 15 companies and a value of Rs 20,97,349 crore is the biggest industrial group, followed by Adani Group with eight companies and a value of Rs 9,54,899 crore, and Aditya Birla Group with five companies and a value of Rs 2,75,286 crore. TCS, Adani Enterprises and Grasim Industries are the most valuable companies of these groups respectively. 

Of the 500 companies, 287 experienced a decline in total value, while 14 remained flat, and 24 dropped out of the list. The combined value of the top 10 companies remained flat at Rs 71.4 lakh crore, representing a significant portion of India's GDP.

"We are witnessing a unique confluence of events, with the Russia-Ukraine war causing a surge in inflationary pressures worldwide, central banks increasing their key lending rates and funding winter for startups. Amidst these challenging times, the companies featured in the Burgundy Private Hurun India 500 - Special Report, experienced a modest decline of 6.4% over the past six months. During this period, the Burgundy Private Hurun India 500 companies underperformed compared to major indices such as SENSEX and NASDAQ. While SENSEX remained flat, NASDAQ saw an impressive 11% increase from October 30, 2022 to April 30, 2023," said Anas Rahman Junaid MD and Chief Researcher, Hurun India.

Meanwhile, Serum Institute of India (SII), helmed by Adar Poonawalla and renowned for its Covid-19 vaccines, has taken the title of India's most valuable unlisted company, with a valuation of ₹1.92 lakh crore. The Pune-headquartered Serum Institute, valued at Rs 1.92 lakh crore, saw a decline of 12.6 per cent. Serum Institute of India overtook National Stock Exchange of India to become the most valuable unlisted company in India, as per the list. 

The list also includes companies like Swiggy, BYJU's, Dream11 and RazorPay. 

Following Serum in the most valuable unlisted company was Ashishkumar Chauhan-led National Stock Exchange of India (NSE) with a value of Rs 1.65 lakh crore, followed by Byju Raveendran’s edtech company BYJU’S with a value of Rs 69,100 crore. 

Sriharsha Majety’s food delivery platform Swiggy follows suit with a value of Rs 58,400 crore, followed by Nimish Chudgar’s Intas Pharmaceuticals with a value of Rs 58,000 crore, PV Krishna Reddy’s Megha Engineering and Infrastructure with a value of Rs 54,500 crore, Vijay Kantilal Chauhan’s Parle Products with a value of Rs 54,300 crore, and Rajeev Juneja’s Mankind Pharma, valued at Rs 53,438 crore. 

Among India's most valued companies, Reliance Industries once again tops the list  a value of Rs 16.3 lakh crore, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.

The total value of the top 10 companies remains unchanged at  Rs 71.5 lakh crore (US$874bn), equivalent to 37% of India’s GDP and 31% of the total value of the 2022 Burgundy Private Hurun India 500. 7 companies are headquartered in Mumbai. 

During the six-month perioid- the total value of RIL dropped 5.1 per cent, but the total value of TCS rose 0.7 per cent and HDFC Bank increased by 12.9 per cent.

Adani Enterprises and Adani Total Gas moved out of the top ten during this period. 

By absolute value, the biggest gainers were HDFC Bank, ITC and Housing Development Finance Corporation.

Amongst listed unicorns,  the value of Nykaa, Zomato, Paytm and Policybazaar declined the most by Rs 7,872 crore during the review period.

Jindal Stainless has emerged as the top gainer in terms of percentage growth, recording an impressive 213 per cent increase followed by Lloyds Metals and Energy with a growth of 93 per cent.

Financial Services and Healthcare were the biggest contributors to the updated 2022 Burgundy Private-Hurun India 500-Special Report with 72 and 60 companies respectively. The Financial Services, Healthcare, Chemicals, Consumer Goods and Software & Services industries made up nearly half the 2022 Burgundy Private-Hurun India 500.