Reliance to SBI: Top 10 companies with highest FY26 revenue

FY26 was another strong year for India’s largest companies, with energy, banking, and technology firms dominating the full-year revenue. Five out of the top 10 highest revenue generating companies in FY26 were government-owned including ONGC, Indian Oil, BPCL, Coal India, SBI. These companies generated high revenue and also gave hefty dividend payouts to their shareholders.

FY26 highlighted the resilience of India's corporate leaders, which continued to generate strong earnings, cash flows, and shareholder returns through dividends. Other companies on the list are from the banking sector and automobile sector.

Key Notes

• For the banking stocks (SBI and HDFC Bank) total interest earned is considered rather than net interest income.
• In case of Infosys only total dividend amount is mentioned, but the company also announced buyback for its shareholders in FY26
• Going by revenue criteria gold refining company, Rajesh Exports reported revenue of ₹7.78 lakh crore in FY26, while its net profit is around ₹112 crore. Also, Rajesh Exports is the only company outside NIFTY50 index to report revenue above our selection criteria of ₹1 lakh crore and above. However, Rajesh Exports is not included as the company is undergoing SEBI investigation for misrepresentation of revenue worth ₹15.1 lakh crore between FY21 and FY25.

The above table highlights India’s largest listed companies by revenue and profit in FY26. One of the key takeaways is that companies from banking, energy, IT, and commodities dominate the list. Another notable trend is the dividend payouts by these companies as businesses are mature and high cash generating. Companies like TCS, Infosys, Coal India, ONGC, and BPCL gave hefty dividends to their shareholders.

Public sector energy giants Indian Oil, ONGC, and BPCL, Coal India also posted massive revenues, benefiting from strong fuel demand, healthy refining margins. ONGC, which is India’s largest upstream energy producer witnessed strong crude oil and natural gas production, along with elevated energy prices during the year which supported the profitability.

Banking stocks like State Bank of India (SBI) and HDFC Bank are other companies on the list. In terms of profitability, SBI emerged as the most profitable company in the above list, reporting revenue of ₹5.14 lakh crore and net profit of ₹83,299 crore. SBI benefited from strong credit growth, healthy loan demand, and improved asset quality. SBI delivered a strong 22.1% stock return over the past year.