IIFL Wealth in association with Hurun India has launched the IIFL Wealth Hurun India Rich List 2022. It has listed top 10 companies that have produced the highest number of 'rich listers' in 2022.
Asian Paints, Alkem Labs and Pidilite Industries are the top three firms that added the highest names to the Hurun list in 2022.
Among other findings, Hurun noted that there are 1103 individuals with ₹1000 crore wealth, which is an increase of 96 from the year before and an increase of 62 percent in the last 5 years.
Hurun list also revealed that the chemicals and petrochemicals space is the fastest growing industry, adding 20 new faces to the list. It is followed by the financial services sector, which added 17 new faces and the software sector, adding 12 new names to the list. Industrial products and pharma were also among the top five sectors.
Let's take a look at the companies that produced the highest number of rich listers in 2022's Hurun list
Asian Paints: 10 individuals from this paint major were listed in 2022's Hurun list. Chairman Ashwin Dani and family are the 13th richest people with a net worth of ₹71,600 crore, while non-executive director Abhay Vakil & family hold 78th rank in the list with a wealth of ₹21,300 crore. While Asian Paints has been flat in the last 1 year, up just 1.5 percent, it has rallied over 180 percent in the past 5 years creating wealth for its investors and promoters alike. Asian Paints is engaged in the business of manufacturing, selling and distributing of paints, coatings, products related to home decor, bath fittings and providing related services. The Company’s segments include Paints and Home Improvement.
Alkem Labs: The pharma firm produced 9 rich listers in 2022's Hurun list. The company produces generics, generic drugs, active pharmaceutical ingredients (APIs) and nutraceuticals, which it markets in India and approximately 50 countries internationally. The Company offers its products under various brands, including Clavam, Pan, Pan-D, Taxim-O, A To Z NS, Xone, Gemcal, Taxim, Sumo, Maxvoid Plus, Tamsukem Plus and Neurokem NT. While the stock has lost 16 percent in the last 1 year, it has rallied over 75 percent in the past 5 years.
Pidilite Industries: The firm had produced 7 rich listers in 2022's Hurun list. It is engaged in consumer and industrial specialty chemicals. Its sales consist of mainly adhesives, sealants, art and craft materials and construction and paint chemicals. While the stock rise 15 percent in the last 1 year, it has provided excellent returns in the last 5 years, up around 280 percent.
Amalgamations: The firm had produced 6 rich listers in 2022's Hurun list. It operates a club and sports complex under the Club Emerald name in India. It offers various facilities, such as a gym, swimming pool, spa and salon, kids' corner, gaming, library, and dining restaurants; banquets; and room services. The company was formerly known as Apte Amalgamations Limited but later changed to Emerald Leisures. The stock has jumped around 60 percent in the last 1 as well as 5 years.
Polycab India: The firm had produced 5 rich listers in 2022's Hurun list. It manufactures and sells wires and cables under the POLYCAB brand in India and internationally. The company offers rubber cables, fire survival cables, and wires. It also provides ceiling, table, pedestal, wall, exhaust, farrata, and air-circulated fans. While the stock is only up 8 percent in the past 1 year due to a jump in raw material prices, it has risen over 4 times in the last 5 years, up 313 percent.
JK Cement: The cement firm had produced 5 rich listers in 2022's Hurun list. It is engaged in the manufacturing and selling of cement and cement-related products. The Company operating segments include grey cement, white cement, and allied products. Even though the stock has fallen 15 percent in the last 1 year, it has rallied nearly 3 times (182 percent) in the past 5 years.
Godrej: The firm had produced 5 rich listers in 2022's Hurun list. Godrej Group is an Indian multinational conglomerate headquartered in Mumbai, which is managed and largely owned by the Godrej family and was established in 1897. Its subsidiaries and affiliated companies include Godrej Industries and its subsidiaries Godrej Consumer Products, Godrej Agrovet, and Godrej Properties, as well as the private holding company Godrej & Boyce Mfg. Co. Ltd.
Infosys: The largecap IT firm had produced 5 rich listers in 2022's Hurun list. It is engaged in consulting, technology, outsourcing, and next-generation digital services. Its segments are Financial Services and Insurance, Manufacturing, Retail, Energy, Communication, Hi-Tech, Life Sciences and Healthcare. It is a preferred IT stock for most analysts even though it has lost 20 percent in the last 1 year. However, it has given multibagger returns in the last 5 years, up 220 percent.
Colourtex Ind: The firm had produced 5 rich listers in 2022's Hurun list. It is the largest textile dyestuff manufacturing facility in India, dedicated to producing quality dyestuffs and chemicals, serving the textile industry world over for over three decades. However, the firm has not been listed on NSE or BSE.
Dabur India: The firm had produced 5 rich listers in 2022's Hurun list. It is a fast-moving consumer goods (FMCG) company whose segments include the Consumer care business, Food business, Retail business and Other segments. While the stock has lost 15 percent, it has risen 75 percent in 5 years.