Top Indian Companies by Revenue in 2026
Reliance Industries ranks as the largest publicly traded Indian company by revenue in 2026, followed by Life Insurance Corporation of India (LIC) and Indian Oil.
India is home to some of the largest companies in the world, spanning industries such as energy, banking, automobiles, metals, telecommunications, technology and infrastructure. But which Indian companies generate the most revenue?
This article ranks the top Indian companies by revenue, using the latest trailing twelve month (TTM) revenue figures available. Since companies report their financial results at different times, TTM revenue provides a current view of the revenue generated over the most recent 12 month period.
Quick Highlights
- Reliance Industries ranks #1 with TTM revenue of about ₹11.44 trillion.
- LIC is India’s second-highest revenue company at approximately ₹10.55 trillion.
- Indian Oil and Rajesh Exports both generate more than ₹8 trillion in TTM revenue.
- Energy and oil-related companies occupy several of the highest positions.
- Tata Motors is the highest-ranked automobile company in the top 20.
- State Bank of India is the highest-ranked bank in the top 10.
- TCS is the highest-ranked major Indian IT services company in the top 20.
Top Indian Companies by Revenue in 2026
The table below ranks India’s 20 largest publicly traded companies by trailing twelve month (TTM) revenue.
| Rank ↕ | Company ↕ | Revenue ↕ |
|---|---|---|
| 1 | Reliance Industries | ₹11.442 trillion |
| 2 | Life Insurance Corporation of India (LIC) | ₹10.554 trillion |
| 3 | Indian Oil | ₹8.624 trillion |
| 4 | Rajesh Exports | ₹8.259 trillion |
| 5 | Oil & Natural Gas Corporation (ONGC) | ₹7.062 trillion |
| 6 | Bharat Petroleum | ₹4.969 trillion |
| 7 | Hindustan Petroleum | ₹4.829 trillion |
| 8 | Tata Motors | ₹4.475 trillion |
| 9 | State Bank of India | ₹4.285 trillion |
| 10 | Larsen & Toubro | ₹3.142 trillion |
| 11 | HDFC Bank | ₹2.961 trillion |
| 12 | Hindalco Industries | ₹2.927 trillion |
| 13 | Tata Consultancy Services (TCS) | ₹2.866 trillion |
| 14 | Tata Steel | ₹2.453 trillion |
| 15 | ICICI Bank | ₹2.375 trillion |
| 16 | Bharti Airtel | ₹2.223 trillion |
| 17 | Mahindra & Mahindra | ₹2.088 trillion |
| 18 | NTPC | ₹2.073 trillion |
| 19 | Grasim Industries | ₹1.932 trillion |
| 20 | JSW Steel | ₹1.929 trillion |
Revenue figures represent trailing twelve-month (TTM) revenue.
Which Indian Company Has the Highest Revenue?
Reliance Industries ranks as the highest revenue publicly traded Indian company in 2026, with trailing twelve month revenue of approximately ₹11.442 trillion.
The company is followed by Life Insurance Corporation of India (LIC) at ₹10.554 trillion and Indian Oil at ₹8.624 trillion.
Reliance’s position at the top reflects the enormous scale of its diversified business operations, which span energy, petrochemicals, retail and telecommunications.
The gap between Reliance Industries and LIC is relatively narrow compared with the much larger differences further down the ranking. Both companies have crossed the ₹10 trillion revenue mark, putting them in a league of their own among the companies in this list of Top Indian Companies by Revenue.
Top 5 Indian Companies by Revenue
Reliance Industries leads the top five with ₹11.442 trillion in TTM revenue, while LIC follows closely at ₹10.554 trillion. Indian Oil, Rajesh Exports and ONGC form the next tier, with each generating more than ₹7 trillion in revenue.
1. Reliance Industries
Reliance Industries ranks first among India’s publicly traded companies by revenue, with TTM revenue of approximately ₹11.442 trillion.
The company has a highly diversified business portfolio spanning energy, petrochemicals, retail and telecommunications. Its enormous scale across these businesses helps it maintain the top position in India’s revenue ranking.
2. Life Insurance Corporation of India
Life Insurance Corporation of India (LIC) ranks second with TTM revenue of approximately ₹10.554 trillion.
As India’s largest life insurance company, LIC operates on a massive scale across the country’s insurance market. Its revenue places it just behind Reliance Industries in the 2026 ranking.
3. Indian Oil
Indian Oil ranks third, generating approximately ₹8.624 trillion in TTM revenue.
The company is one of India’s largest oil and fuel businesses, with operations spanning refining, petroleum products and fuel distribution. Its large-scale operations make it one of the country’s biggest revenue-generating companies.
4. Rajesh Exports
Rajesh Exports ranks fourth with TTM revenue of approximately ₹8.259 trillion.
The company operates primarily in the gold and jewellery business and has a large presence in the international precious-metals market. Its position near the top of the ranking is notable given the much smaller number of companies from this industry among India’s largest revenue generators.
5. Oil & Natural Gas Corporation
Oil & Natural Gas Corporation (ONGC) completes the top five with approximately ₹7.062 trillion in TTM revenue.
ONGC is India’s largest exploration and production company and plays a major role in the country’s oil and natural gas industry. Its scale puts it among India’s five largest publicly traded companies by revenue.
Frequently Asked Questions
Which Indian company has the highest revenue in 2026?
Reliance Industries currently ranks as the highest-revenue publicly traded Indian company, with TTM revenue of approximately ₹11.442 trillion.
Which is the second-highest revenue company in India?
Life Insurance Corporation of India (LIC) ranks second, with TTM revenue of approximately ₹10.554 trillion.
Which Indian company has the highest revenue after Reliance Industries?
LIC is the second-highest company by revenue, followed by Indian Oil, Rajesh Exports and ONGC.
Is Reliance Industries the largest company in India by revenue?
Yes. Based on the CompaniesMarketCap ranking used for this article, Reliance Industries ranks first among publicly traded Indian companies by TTM revenue.
Which Indian oil company has the highest revenue?
Indian Oil has the highest revenue among the traditional oil and petroleum companies in this ranking, with approximately ₹8.624 trillion in TTM revenue.
Which is India’s largest IT company by revenue?
Tata Consultancy Services (TCS) is the highest-ranked major Indian IT services company in the top 20, with TTM revenue of approximately ₹2.866 trillion.
Which Indian bank has the highest revenue?
State Bank of India is the highest-ranked bank in the top 20, with TTM revenue of approximately ₹4.285 trillion.
What does TTM revenue mean?
TTM stands for trailing twelve months. It represents the revenue generated by a company during its most recent twelve-month period.
Is revenue the same as profit?
No. Revenue is the money generated from a company’s business activities, while profit is what remains after expenses and other costs have been deducted.
Does this ranking use market capitalization?
No. The ranking is based on TTM revenue, not market capitalization. Revenue and market capitalization measure different aspects of a company.
Can the ranking change during 2026?
Yes. The ranking can change as companies report new financial results and their latest twelve-month revenue figures are updated.
Source & Methodology
The revenue figures in this article are based on the latest trailing twelve-month (TTM) revenue data for publicly traded Indian companies.
The ranking and revenue figures are sourced from CompaniesMarketCap’s list of the largest Indian companies by revenue . The source updates company revenue figures as new financial results become available.
Companies are ranked from highest to lowest based on their reported TTM revenue. Revenue is shown in Indian rupees (₹) and presented in trillion format for easier comparison.
Important: TTM revenue is not the same as full-year calendar 2026 revenue. Since companies have different financial years and report results at different times, TTM provides a more current twelve-month comparison.