35 Indian cos in Forbes Asia's 'Best Under a Billion' list

Singapore, Aug 31 (PTI) Thirty-five Indian companies are
ranked among the top 200 Asia-Pacific corporations in Forbes
Asia's 'Best Under a Billion' list for this year.
The number of Indian companies was second only to the 65
firms from both China and Hong Kong that found a place in the
list.
Among the Indian companies that made the grade are SRF,
which manufactures chemical-based industrial intermediates;
Polyplex, which makes polyester film; and Glodyne Technoserve,
an IT services company, Forbes Asia said today.
However, India's largest storage-battery producer, Exide
Industries -- which was present in the list last year -- grew
too big to be included in the 200-company list for 2011,
having breached the USD 1 billion sales mark in the past 12
months.
The Asia-Pacific list ranks public companies in the
Asia-Pacific region with annual revenues between USD 5 million
and USD 1 billion. The companies were also evaluated in terms
of return on equity, said Forbes Asia.
Tim Ferguson, the Editor of Forbes Asia, said:
"Essentially, these are our picks of the companies that have
best managed through the economic volatility that began in
2008. Most navigated the global credit crunch with little to
no debt on their balance sheets. On average, the companies on
the list have a 13 per cent debt-to-equity ratio and 67 of
these companies carry no debt at all."
Pakistan has two companies on the list, namely Millat
Tractors, which builds agricultural tractors, and software
company Netsol Technologies.
Sri Lanka has four companies on the list -- Asian
Alliance Insurance, Ceylon Investment, Renuka Holdings and
chicken processing company Bairaha Farm.