As a student of Business Economics, it is necessary that you understand the importance of business organizations in the overall economic system in India. In this article, we will talk about the core management team, products and services, achievements and financial performance, etc. of three major companies – ONGC, Reliance Industries, and SBI.
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Oil & Natural Gas Corporation – ONGC
| Year of Incorporation | 1956 |
| Ownership Group | The Government of India |
| Headquarters | Uttarakhand, India |
| Chief Managing Director (CMD) | Dinesh K Sarraf |
| Chief Financial Officer (CFO) | Mr. A K Srinivasan |
| Website | www.ongcindia.com |
Introduction
The Oil and Natural Gas Corporation or ONGC is India’s largest company for exploring and producing oil and gas. Further, it is a Public Sector Undertaking (PSU) of the Government of India. Furthermore, the Ministry of Petroleum and Natural Gas has the administrative control of ONGC.
The company also operates over 11,000 kilometers of pipelines in India and explores and exploits hydrocarbons in around 26 sedimentary basins across the country. It produces 77% of the crude oil and 62% of the natural gas in India.
The company also has an international subsidiary – ONGC Videsh, which currently operates in 17 countries. Further, ONGC was ranked 449th in the Fortune Global 500 list of the world’s largest corporations in 2015.
Platts also ranked ONGC at number 17 in the Top 250 Global Energy Companies. Also, the company has over 33,560 employees and had a revenue of Rs. 139,364.35 crore in 2015-16.
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History
The Government of India founded ONGC on August 14, 1956, and currently holds a stake of 68.94% in the company. From the date of its launch, the company has discovered six out of the seven commercial basins in India and adds nearly 7.1 billion tonnes of in-place oil and gas volume of hydrocarbons.
Philosophy
Vision: To be a global leader in integrated business through sustainable growth, knowledge excellence, and exemplary governance practices.
Mission: To be world class, integrated with the energy business with a portfolio of businesses, products, and services and a dominant Indian leadership.
Products/Services: ONGC is the supplier of natural gas, crude oil, and many value-added products to the Indian Oil and Gas refining and marketing companies.
News
- Randstad Awards, 2013 – Most Attractive Employer in the Energy Sector in India
- Golden Peacock Award, 2014 – One of the 12 winners for Corporate Social Responsibility practices
- Forbes Global 2000, 2012 – 155th place
- The Government of India conferred it with the Maharatna status in November 2010
Reliance Industries
| Year of Incorporation | 1966 |
| Ownership Group | Reliance Group |
| Headquarters | Mumbai, Maharashtra, India |
| Chief Managing Director (CMD) & CEO | Mukesh Ambani |
| Chief Financial Officer (CFO) | Alok Kumar Agarwal |
| Website | www.ril.com |
Introduction
Reliance Industries Limited or RIL is India’s largest private sector company. Further, it has businesses across India and is engaged in petrochemicals, energy, exploring and producing hydrocarbons, textiles, retail, telecommunications, and natural resources.
While the company has more than 30 lakh shareholders, the Ambani family holds nearly 52% of the total shares. Also, the company has over 24,000 employees and had a revenue of Rs. 2,960 billion in 2015-16.
History
In the 1960s, Dhirubhai Hirachand Ambani and his brother Champaklal Damani founded Reliance Commercial Corporation. Subsequently, Reliance Textile Industries Pvt. Ltd. was incorporated in Maharashtra in 1966 and established a synthetic fabric mill in Naroda in the same year.
In 1975, the company entered the textile industry with its brand Vimal which eventually became a major brand. Also in 1985, Reliance Textile Industries was renamed as Reliance Industries Limited (RIL).
Philosophy
Growth is Energy – Growth is Value – Growth is Happiness – Growth is Life.
RIL aims to touch the lives of people in a positive way. Further, Reliance believes in inclusive growth as a universal concept and conducts its business in accordance with the same.
Mission: To continue to grow as a responsible organization and enrich the lives of those around it. Also, to continue undertaking social initiatives in education, social security, healthcare, skill enhancement, and community infrastructure.
Portfolio
RIL has 123 subsidiary companies and 10 associate companies in the following fields:
- Reliance Retail
- Reliance Life Sciences
- Exploration and Production
- Petroleum Refining and Marketing
- Reliance Petrochemicals
- Reliance Jio Infocomm Limited (RJIL)
- Network 18
- Reliance Textiles
RIL is a conglomerate business which deals in related and unrelated products.
News
- May 2014 – Acquired TV18 Broadcast for Rs. 4,000 crore through its arm Independent Media Trust (IMT)
- Further, Bharti agreed to allow Reliance Jio to use the dedicated fiber pair on Bharti’s i2i submarine cable connecting India and Singapore
- 2016 – RIL ranked 215th on a rather elite Fortune Global 500 list of the world’s largest corporations
- 2016 – RIL also ranked 121st on the Forbes World’s 2000 largest corporations list
- Also in 2016 – It ranked 8th among the Top 250 Global Energy Companies by Platts
State Bank of India (SBI)
| Year of Incorporation | 1806 |
| Headquarters | Mumbai, Maharashtra, India |
| Chief Managing Director (CMD) | Arundhati Bhattacharya |
| Chief Financial Officer (CFO) | Anshula Kant |
| Website | www.sbi.co.in |
Introduction
SBI is a government-owned corporation into multinational, public-sector banking, and financial services. Since 1973, SBI has been actively involved in a non-profit venture called Community Services Banking. It has 14 regional hubs and also 57 zonal offices located at important cities across India with over 14,000 branches and 58,500 ATMs. Also, it has 191 foreign offices spread across 36 countries.
Further, SBI has a market share of 20% in deposits and loans among the Indian Commercial banks. Also, the company has over 2,22,000 employees and had a revenue of Rs. 2,73,460 crore in 2015-16.
History
In 1806, the Imperial Bank of India, under British India, founded the Bank of Calcutta, thereby making it the oldest commercial bank in the Indian subcontinent. Subsequently, the Bank of Madras, Bank of Calcutta, and the Bank of Bombay merged to form the Imperial Bank of India.
Also in 1955, the Reserve Bank of India took a 60% stake in the Imperial Bank of India and renamed it to the State bank of India. Subsequently, in 2008, the Government took over RBI’s stake in SBI.
Philosophy
- Vision:Â To be the bank of choice for a transforming India.
- Mission:Â Committed to providing simple, responsive, and also innovative financial solutions.
News
- April 2017 – State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore, and the Bharatiya Mahila Bank were merged with the State Bank of India
- January 2016 – SBI opened its first branch in South Korea, in Seoul
- Further, in the Forbes 2009 Rankings, SBI was named the 29th most reputed company in the world
- Also, in the Brand Trust Report 2013, SBI was also voted as the 50th most trusted brand in India
- Above all, in the Fortune Global 500 list of the world’s largest corporations, 2016, SBI ranked 232nd
Solved Question on SBI
Q: How many branches does SBI have in India?
Answer: SBI has over 14,000 branches in India.
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