New Delhi: The country’s most valued firm, Reliance Industries (RIL), has been named among the world’s top 20 chemical companies in a global ranking, which sees the Indian firm jumping to the top tier soon with a major acquisition.
The company led by industrialist Mukesh Ambani has been ranked at 20th position in the ICIS Top 100 Chemicals Companies list, which was topped by German major BASF.
The companies were ranked on the basis of their annual sales figures in the annual list released by ICIS Chemical Business magazine, which is published by ICIS, a global information provider for the chemical and energy industries.
Terming RIL and Chinese major PetroChina among the major climbers on the list over the past decade, the report said the top rankings could be soon come under attack by these two firms.
“Who knows what the next decade holds? The top tier may well be under attack shortly by rapid climbers such as PetroChina and Reliance Industries.
“Reliance is a candidate for major acquisition, although it has failed to consummate deals recently,” ICIS said, referring to the failed attempt by the Indian company to acquire global petrochemicals major LyondellBasell.
Incidentally, LyondellBasell has been ranked fifth in the list after BASF, Dow Chemical, ExxonMobil and Sinopec.
At the same time, LyondellBasell was among the only 16 companies in the top-100 to report a net loss last fiscal. It underwent Chapter 11 bankruptcy protection during the whole of 2009 and emerged from the exercise in April, 2010.
While RIL is the only Indian company in the top 20, another Indian entity, Tata Chemical, has been ranked at 115th in a separate list of companies -- titled ‘Bubbling Under´ -- that did not make it into the Top-100.
RIL has been also named as the 8th biggest gainer in the list in terms of operating profits.
The report noted that the global chemical industry went through a year of turmoil in 2009, but RIL figured among the few companies on the list that bucked the trend.
“The ICIS List of top players in the global chemical industry confirms that 2009 was a year of turmoil, but many companies have emerged from the downturn in solid shape,” it said.
“Some companies managed to buck the downward sales trend from a combination of location, fiscal year-end and business mix. In this group were: Merck KGaA, with its heavy pharma and liquid crystal display sales mix; Reliance Industries, which continued to benefit from strong demand in India; and Sasol, which had a year-end of 30 June, 2009.”
RIL was ranked 20th on the basis of sales worth $12.3 billion last year, while top-ranked BASF had sales of $72.7 billion.