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Largest Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Reliance Industries, HDFC Bank, Bharti Airtel, State Bank of India and ICICI Bank.
 | $15 | -3% | $199B | $213B | 1.9x | 10.7x | ||
| $9 | -17% | $133B | $208B | 10.0x | — | ||
| $20 | +0% | $121B | $138B | 6.1x | 10.7x | ||
| $12 | +37% | $108B | $182B | 6.8x | — | ||
| $15 | -6% | $104B | $127B | 9.8x | — | ||
| $28 | -25% | $101B | $97B | 3.3x | 12.3x | ||
| $10 | +5% | $61B | $96B | 16.4x | 32.7x | ||
| $44 | +22% | $61B | $68B | 2.2x | 20.6x | ||
| $9 | +6% | $58B | $51B | 0.5x | 12.4x | ||
| $14 | -20% | $57B | $55B | 2.8x | 12.2x | ||
| $24 | -4% | $57B | $56B | 8.0x | 34.7x | ||
| $145 | +10% | $46B | $45B | 2.3x | 19.4x | ||
| $15 | +15% | $46B | $74B | 8.1x | — | ||
| $18 | -9% | $43B | $41B | 6.5x | 22.1x | ||
| $49 | +34% | $43B | $46B | 5.5x | 52.3x | ||
| $16 | -8% | $42B | $39B | 2.8x | 13.4x | ||
| $3 | -28% | $42B | $39B | 5.0x | 14.5x | ||
| $35 | +9% | $41B | $51B | 3.2x | 22.3x | ||
| $2 | +86% | $41B | $45B | 7.6x | 20.5x | ||
| $4 | +11% | $41B | $65B | 3.2x | 10.6x | ||
| $4 | -13% | $41B | $50B | 10.7x | — | ||
| $17 | +29% | $39B | $44B | 10.7x | 18.0x | ||
| $3 | +16% | $39B | $51B | 0.7x | 4.4x | ||
| $128 | +2% | $38B | $40B | 4.2x | 22.0x | ||
| $5 | +47% | $37B | $36B | 11.9x | 41.5x | ||
| $9 | +87% | $33B | $39B | 2.1x | 6.5x | ||
| $13 | +20% | $33B | $44B | 2.2x | 13.4x | ||
| $50 | +10% | $33B | $33B | 4.4x | 57.9x | ||
| $3 | +3% | $32B | $45B | 8.6x | 10.2x | ||
| $20 | -6% | $32B | $66B | 4.8x | 22.7x | ||
| $47 | -2% | $32B | $27B | 7.4x | 25.4x | ||
| $24 | -1% | $31B | $41B | 3.9x | 22.4x | ||
| $106 | +21% | $29B | $31B | 4.9x | 23.9x | ||
| $5 | +14% | $29B | $26B | 1.8x | 6.2x | ||
| $2 | +51% | $29B | $38B | 1.5x | 10.1x | ||
| $6 | +35% | $27B | $27B | 6.4x | 11.8x | ||
| $14 | +7% | $27B | $27B | 10.9x | 48.6x | ||
| $11 | +69% | $26B | $45B | 15.3x | 31.2x | ||
| $27 | +1% | $26B | $25B | 6.6x | 35.6x | ||
| $11 | +66% | $25B | $30B | 1.1x | 8.1x | ||
| $3 | +8% | $25B | $24B | 4.0x | 171.0x | ||
| $2 | -16% | $23B | $19B | 1.9x | 9.9x | ||
| $2 | +6% | $22B | $36B | 0.4x | 5.1x | ||
| $21 | +12% | $21B | $21B | 2.0x | 61.7x | ||
| $78 | +29% | $21B | $21B | 8.3x | 33.1x | ||
| $12 | +25% | $20B | $29B | 19.6x | 23.8x | ||
| $29 | -1% | $20B | $38B | 8.9x | 205.1x | ||
| $41 | +43% | $20B | $22B | 4.4x | 34.6x | ||
| $50 | -12% | $19B | $22B | 2.3x | 11.9x | ||
| $67 | +2% | $18B | $18B | 15.2x | 46.1x | ||
| $36 | -- | $18B | $18B | 28.4x | 37.7x | ||
| $5 | -- | $17B | $18B | 2.1x | 16.9x | ||
| $5 | -8% | $17B | $17B | 7.0x | 30.2x | ||
| $3 | -7% | $17B | $19B | 58.3x | — | ||
| $21 | +11% | $17B | $16B | 2.1x | 16.5x | ||
| $5 | +14% | $17B | $128B | 47.7x | 50.7x | ||
| $14 | +40% | $16B | $20B | 7.0x | 21.3x | ||
| $76 | +27% | $16B | $15B | 10.4x | 65.9x | ||
| $6 | -11% | $16B | $15B | 15.3x | 54.2x | ||
| $44 | -21% | $16B | $16B | 7.3x | 41.4x | ||
| $3 | +12% | $16B | $31B | 4.5x | — | ||
| $2 | +50% | $16B | $24B | 4.0x | — | ||
| $38 | +66% | $15B | $15B | 27.8x | 43.7x | ||
| $39 | +64% | $15B | $31B | 16.6x | 23.6x | ||
| $56 | +77% | $15B | $15B | 11.6x | 55.2x | ||
| $4 | -- | $15B | $37B | 21.3x | — | ||
| $15 | -8% | $15B | $15B | 9.6x | 40.3x | ||
| $45 | +26% | $15B | $15B | 10.6x | 32.3x | ||
| $51 | +5% | $15B | $14B | 3.0x | 17.0x | ||
| $62 | +5% | $15B | $15B | 7.2x | 37.8x | ||
| $50 | -- | $15B | $14B | 3.0x | 16.5x | ||
| $1 | -16% | $15B | $60B | — | — | ||
| $5 | +11% | $15B | $21B | 3.0x | 13.8x | ||
| $3 | +0% | $15B | $18B | 0.4x | 4.3x | ||
| $17 | +6% | $15B | $35B | 19.0x | 47.4x | ||
| $16 | +0% | $14B | $14B | 2.3x | 14.2x | ||
| $7 | -17% | $14B | $14B | 1.7x | 1.2x | ||
| $4 | -43% | $14B | $15B | 0.4x | 6.4x | ||
| $40 | +27% | $14B | $14B | 7.1x | 61.8x | ||
| $1 | +40% | $14B | $15B | 1.1x | 12.1x | ||
| $1 | +14% | $14B | $27B | 4.0x | — | ||
| $14 | +41% | $14B | $15B | 2.7x | 14.7x | ||
| $2 | +46% | $14B | $30B | 4.2x | — | ||
| $312 | +99% | $14B | $13B | 15.6x | 103.5x | ||
| $10 | +66% | $14B | $19B | 4.7x | — | ||
| $88 | +48% | $13B | $13B | 4.3x | 31.0x | ||
| $2 | -- | $13B | $13B | 26.0x | 43.6x | ||
| $8 | +23% | $13B | $13B | 9.6x | 73.8x | ||
| $30 | +27% | $13B | $13B | 27.5x | 35.7x | ||
| PE & VC+1 | $112 | -13% | $12B | $12B | — | — | |
| $5 | -15% | $12B | $12B | 2.7x | 15.8x | ||
| $12 | -12% | $12B | $12B | 7.4x | 36.0x | ||
| $83 | +10% | $12B | $12B | 4.6x | 30.9x | ||
| $405 | +27% | $12B | $11B | 5.3x | 40.3x | ||
| $3 | +39% | $12B | $12B | 3.3x | 52.4x | ||
| $12 | -5% | $12B | $12B | 5.5x | 39.5x | ||
| $4 | +1% | $12B | $13B | 3.7x | 6.7x | ||
| $33 | -- | $12B | $11B | 11.7x | 58.5x | ||
| $17 | -- | $12B | $11B | 4.1x | 40.4x | ||
| $25 | +11% | $11B | $11B | 3.9x | 13.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of last 12 months. For more data, start your free trial here.
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