Reliance climbs to 86th position in Fortune Global 500 list
Reliance Industries (RILs) has ascended two spots to secure the 86th position in Fortune's Global 500 list for 2024. This advancement sustains RIL's leading status among Indian corporates. The company's new ranking signifies a substantial leap from its previous position of 88th and illustrates an impressive climb of 69 places over the past three years, up from its rank of 155th in 2021.
RIL achieves highest ranking in 'Fortune' Global 500
The 86th position marks the highest ranking ever achieved by Reliance Industries on the Fortune Global 500 list. The list ranks companies based on their total revenues for their respective fiscal years ending on or before March 31, 2024. RIL has been part of this prestigious list for a record-breaking 21 consecutive years, a feat unmatched by any other private sector company in India. Only the state-run LIC has featured in the list more than RIL (30 years).
RIL reports record revenues for fiscal year 2024
For the fiscal year 2024, Reliance Industries reported record-high consolidated revenues of ₹10 lakh crore, marking a year-on-year increase of 2.6%. The company's EBITDA also rose by 16.1% YoY to ₹1.78 lakh crore. Each of RIL's O2C, oil & gas, retail and digital services businesses posted healthy growth. This robust financial performance has played a significant role in the company's improved ranking on the Fortune Global 500 list.
Walmart tops the list
Scott DeCarlo, Fortune's Vice President of Research, stated, "The Global 500 is the ultimate scorecard for business success. The aggregate revenue of the Fortune Global 500 in 2023 reached $41 trillion, a record level." Walmart, Amazon, and China's State Grid took the first three spots on the list. Talking of Indian companies, LIC (95), Indian Oil (116), SBI (178), ONGC (180), Bharat Petroleum (258), Tata Motors (271), HDFC Bank (306), and Rajesh Exports (463) made it to the prestigious list.
