20 Indian firms amongst Forbes best small firms

By agencies   |   Friday, 18 November 2005, 08:00 Hrs
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NEW DELHI: Twenty Indian companies like Asian Paints, Cipla, Bharat Forge, Dabur India, Nicholas Piramal and Satyam Computer Services are among the Indian corporate entities that have found place in Forbes' list of 'Best Small Asian Companies.'

The other Indian companies making to the list are Ballarpur Industries, Balrampur Chini Mills, Essel Propack, GE Shipping, HDFC Bank, Hinduja TMT, IPCA Laboratories, Indian Hume Pipe, JB Chemicals and Pharmaceuticals, Kesoram Industries, Nagarjuna Construction, Sun Pharma, Thermax and Zee Telefilms.

Forbes said Indian companies varied came from diverse sectors like chemicals, forest products, food processing, drugs, oil refining and construction and made it to the Asia-Pacific list, which values both growth and consistency in companies from countries like Australia, Japan, Malaysia, Hong Kong, South Korea and China.

"We required positive earnings growth during the past few years. And we asked for a pretax margin of at least five per cent in the latest fiscal year because tax laws can vary widely from country to country, making bottom line comparisons unfair," Forbes said.

Forbes said, "Unlike their U.S. counterparts on the 'Forbes 200 Best Small Companies' list, which frequently do not pay dividends, nearly all of our best Asian companies offer payouts. The average yields: Asia-Pacific 2.5 percent, U.S. 1.1 percent," Forbes said commenting on the robustness of the various companies on the list and their worth for shareholders.

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