The list, in its second year, also features 14 newcomers, including Infosys, Maruti Suzuki, Bharat Forge, Alembic Pharma, Gillette India, HDFC Bank, Bajaj Finance, Kansai Nerolac and LIC Housing Finance, among others. Companies that have been dropped from the list include Tata Motors, Hindustan Unilever, MRF, Glaxo SmithKline Consumer Healthcare, Pfizer, Dr Reddy's Labs, Glenmark Pharmaceuticals, HDFC and Kotak Mahindra Bank.
The three-stage methodology followed by Forbes together with PwC India uses a set of eliminators to arrive at a critical mass of companies, which was then subjected to the tests of market capitalisation growth, sales growth CAGR and return on equity over a three-year period to ensure consistency in performance. Forbes India Editor Sourav Majumdar said,
A sharp focus on capital efficiency, innovation and customer centricity defines this year's Super 50 companies. Despite their diverse nature, these common threads make these companies benchmarks in excellence