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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.
 | $14 | -9% | $187B | $201B | 1.8x | 10.1x | ||
| $8 | -20% | $129B | $202B | 9.8x | — | ||
| $20 | -1% | $120B | $136B | 6.0x | 10.6x | ||
| $11 | +31% | $103B | $176B | 6.6x | — | ||
| $14 | -8% | $102B | $125B | 9.7x | — | ||
| $26 | -30% | $94B | $90B | 3.1x | 11.5x | ||
| $9 | +1% | $59B | $93B | 16.0x | 31.9x | ||
| $42 | +15% | $57B | $64B | 2.0x | 19.6x | ||
| $14 | -23% | $55B | $53B | 2.7x | 11.6x | ||
| $8 | -2% | $54B | $48B | 0.5x | 11.5x | ||
| $22 | -12% | $53B | $52B | 7.5x | 32.3x | ||
| $14 | +11% | $44B | $72B | 8.0x | — | ||
| $138 | +4% | $43B | $43B | 2.2x | 18.5x | ||
| $17 | -12% | $42B | $39B | 6.3x | 21.4x | ||
| $47 | +28% | $41B | $44B | 5.4x | 50.5x | ||
| $15 | -11% | $41B | $38B | 2.7x | 13.0x | ||
| $34 | +7% | $41B | $50B | 3.2x | 22.0x | ||
| $4 | +6% | $39B | $63B | 3.1x | 10.3x | ||
| $3 | -32% | $39B | $37B | 4.7x | 13.8x | ||
| $4 | -18% | $39B | $48B | 10.3x | — | ||
| $3 | +15% | $38B | $50B | 0.7x | 4.4x | ||
| $2 | +66% | $37B | $41B | 6.9x | 18.6x | ||
| $121 | -4% | $36B | $38B | 4.0x | 21.0x | ||
| $15 | +17% | $36B | $40B | 9.8x | 16.6x | ||
| $5 | +37% | $34B | $33B | 11.1x | 38.9x | ||
| $8 | +75% | $31B | $37B | 2.0x | 6.2x | ||
| $13 | +14% | $31B | $42B | 2.1x | 12.8x | ||
| $47 | +3% | $31B | $31B | 4.2x | 54.2x | ||
| $19 | -11% | $30B | $64B | 4.7x | 22.0x | ||
| $3 | -5% | $29B | $42B | 8.1x | 9.7x | ||
| $43 | -11% | $29B | $24B | 6.7x | 23.0x | ||
| $103 | +19% | $29B | $30B | 4.8x | 23.5x | ||
| $5 | +10% | $28B | $26B | 1.7x | 6.0x | ||
| $2 | +43% | $27B | $36B | 1.4x | 9.7x | ||
| $20 | -17% | $26B | $36B | 3.4x | 19.3x | ||
| $6 | +25% | $25B | $25B | 6.0x | 11.0x | ||
| $13 | 0% | $25B | $25B | 10.2x | 45.7x | ||
| $11 | +60% | $25B | $43B | 14.8x | 30.1x | ||
| $25 | -6% | $24B | $23B | 6.2x | 33.3x | ||
| $10 | +52% | $23B | $28B | 1.0x | 7.6x | ||
| $2 | -1% | $23B | $22B | 3.7x | 159.4x | ||
| $2 | -18% | $22B | $18B | 1.8x | 9.5x | ||
| $1 | 0% | $21B | $35B | 0.4x | 4.9x | ||
| $74 | +23% | $20B | $20B | 7.9x | 31.8x | ||
| $20 | +6% | $20B | $20B | 1.9x | 58.8x | ||
| $41 | +43% | $20B | $22B | 4.5x | 34.8x | ||
| $29 | -4% | $19B | $37B | 8.7x | 201.7x | ||
| $11 | +17% | $19B | $27B | 18.7x | 22.8x | ||
| $47 | -18% | $18B | $20B | 2.2x | 11.2x | ||
| $35 | -- | $17B | $17B | 27.8x | 37.4x | ||
| $64 | -3% | $17B | $17B | 14.5x | 44.1x | ||
| $5 | -- | $17B | $17B | 2.0x | 16.2x | ||
| $3 | -11% | $16B | $17B | 53.4x | — | ||
| $5 | -18% | $15B | $15B | 6.2x | 26.9x | ||
| $72 | +21% | $15B | $15B | 9.8x | 61.8x | ||
| $38 | +60% | $15B | $30B | 16.3x | 23.2x | ||
| $5 | +4% | $15B | $124B | 46.3x | 49.3x | ||
| $3 | +7% | $15B | $30B | 4.4x | — | ||
| $18 | 0% | $15B | $14B | 1.9x | 14.8x | ||
| $44 | +22% | $15B | $15B | 10.4x | 31.7x | ||
| $50 | -- | $15B | $14B | 3.0x | 16.7x | ||
| $12 | +27% | $15B | $19B | 6.6x | 19.8x | ||
| $2 | +43% | $15B | $23B | 3.8x | — | ||
| $6 | -18% | $15B | $14B | 14.2x | 50.2x | ||
| $53 | +68% | $15B | $14B | 11.1x | 52.6x | ||
| $41 | -27% | $15B | $15B | 6.8x | 38.5x | ||
| $3 | -- | $14B | $35B | 20.5x | — | ||
| $14 | -15% | $14B | $14B | 8.9x | 37.6x | ||
| $59 | 0% | $14B | $14B | 6.9x | 36.1x | ||
| $35 | +52% | $14B | $13B | 25.5x | 40.1x | ||
| $7 | -19% | $14B | $14B | 1.7x | 1.2x | ||
| $47 | -3% | $14B | $13B | 2.8x | 15.6x | ||
| $4 | +4% | $14B | $20B | 2.9x | 13.2x | ||
| $10 | +67% | $14B | $19B | 4.8x | — | ||
| $1 | -23% | $14B | $58B | — | — | ||
| $16 | -2% | $14B | $33B | 18.3x | 45.7x | ||
| $1 | +8% | $13B | $25B | 3.8x | — | ||
| $4 | -47% | $13B | $14B | 0.4x | 6.1x | ||
| $15 | -7% | $13B | $13B | 2.1x | 13.2x | ||
| $3 | -8% | $13B | $17B | 0.4x | 4.0x | ||
| $298 | +90% | $13B | $13B | 15.0x | 99.8x | ||
| $1 | +39% | $13B | $29B | 4.1x | — | ||
| $1 | +30% | $13B | $14B | 1.0x | 11.3x | ||
| $13 | +32% | $13B | $15B | 2.5x | 13.9x | ||
| $2 | -- | $13B | $13B | 25.4x | 42.7x | ||
| $35 | +12% | $13B | $12B | 6.3x | 54.5x | ||
| $5 | +5% | $12B | $13B | 3.8x | 7.0x | ||
| $79 | +33% | $12B | $12B | 3.9x | 28.1x | ||
| $8 | +11% | $12B | $12B | 8.7x | 66.9x | ||
| PE & VC+1 | $104 | -20% | $12B | $12B | — | — | |
| $5 | -20% | $12B | $11B | 2.5x | 14.9x | ||
| $27 | +13% | $11B | $11B | 24.6x | 30.8x | ||
| $11 | -18% | $11B | $12B | 6.9x | 33.8x | ||
| $79 | +5% | $11B | $12B | 4.4x | 29.7x | ||
| $386 | +21% | $11B | $11B | 5.1x | 38.6x | ||
| $11 | -9% | $11B | $11B | 5.3x | 38.0x | ||
| $24 | +7% | $11B | $11B | 3.8x | 13.4x | ||
| $55 | +33% | $11B | $10B | 2.0x | 13.8x | ||
| $43 | +156% | $11B | $11B | 16.3x | 61.8x | ||
| $13 | +2% | $11B | $11B | 2.9x | 12.6x |
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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