According to the findings of the second edition of India's Most Admired Companies (IMAC) compiled by Hay Group in association with Fortune India, TCS replaced last year's winner group company Tata Steel by scoring highest on parameters such as corporate governance, financial soundness, and talent management.
Second-ranked FMCG HUL has been rated highest on its endurance and product quality, while ITC and Infosys share the joint third spot. SBI, L&T, Tata Steel, ONGC, Maruti Suzuki, and ICICI Bank also feature in the top 10.
Commenting on the findings, Hay Group India MD Gaurav Lahiri said, "This year, two criteria in particular, leadership, and creating shareholder value, separated the Top 10 from the rest of the winners, with talent management coming in a close third."
Interestingly, last year's top 10 did not include any PSEs - accounted for by SBI and ONGC this year.
ICICI makes its debut in the top ten this year, while Colgate Palmolive, Tata Motors, and Dell India all have slipped down the order compared to their ranking last year.
The top 10 of India's most admired companies also include SBI (5th), L&T (6th), Tata Steel (7th), ONGC (8th), Maruti Suzuki (9th) and ICICI Bank (10th).
Lahiri further added that "as demonstrated by the IMACs, in today's uncertain business environment, it is more important than ever for organisations to create shareholder value through good leadership and talent management practices."
The study was based on a unique peer ranking methodology that covered 493 companies across 16 key sectors. Findings represent a report card on corporate reputations that involves more than just profits and performance for India Inc.