Indian companies figuring on the Forbes Asia's "Best Under a Billion" (BUB) list of the top small- to medium-sized companies in the Asia Pacific region dropped to 19 as Chinese firms once again dominated.
A rising number of Japanese companies also appeared on the list that honours 200 leading public companies in the Asia Pacific region with annual revenue between $5 million and $1 billion.
Forbes editors select the best 200 out of a universe of 15,000 companies based on criteria such as rising financial performance, sufficiently broad and private share ownership, reasonable debt levels and profitability, according to a media release.
Companies from China and Hong Kong dominated the list this year with 63 entries. Taiwan has the second highest number of companies on the list at 26, three more than the previous year. India came in third with 19 companies, the lowest level since
2007.
A rising number of Japanese companies made the list with 17 entries compared to just four or less in recent years.
Vikas WSP with sales of $525 million topped the Indian list. MindTree with sales of $435 million was second with KPIT Cummins Infosystems taking the third place of $412 million.
NIIT Technologies ($372 million) and Hexaware Technologies ($356 million) took the next two places.
Other Indian firms on the list were: Accelya Kale Solutions, Ajanta Pharma, Dhanuka Agritech, Eros International Media, Infinite Computer Solutions,Jubilant FoodWorks, La Opala RG, MT Educare, Natco Pharma, Persistent Systems, RS Software, Som Distilleries & Breweries, TTK Prestige and Talwalkars Better Value Fitness
