Two Adani Group companies rule as the top all-round wealth creators – here are a few other unexpected entries

• Adani Enterprises and Adani Transmission are the top two all-round wealth creators, according to a report by Motilal Oswal.
• Reliance Industries, which emerged as the biggest wealth creator, is eighth on the list of the top ten all-round wealth creators.
• The list of top all-round wealth creators throws up a few surprises.

Two Adani Group companies have emerged as the leading all-round wealth creators in Motilal Oswal’s 27th Annual Wealth Creation Study 2022. While that may not come as a surprise, there are a few unexpected entrants in the list.

Adani Enterprises, which topped the list of the most consistent wealth creators, also emerged as the top all-round wealth creator between 2017-22, according to the Motilal Oswal report. It is the flagship company of the Adani Group.

Overall, Adani Enterprises was ranked 12th, 3rd, and 1st across the research firm’s list of biggest, fastest and most consistent wealth creators, respectively. The company’s share price delivered a compounded annual growth rate (CAGR) of 96% over the 2017-22 period.

Adani Transmission, the group’s power transmission company with over 30 million connections and a capacity of over 38,600 MVA (mega volt amp), ranked second in the list of all-round wealth creators. Its stock had the best CAGR over 2017-22, too, at 106%.

Only a few companies figure in multiple lists

Apart from Adani Enterprises and Adani Transmission, only a few other companies figure in more than one list.

For instance, Reliance Industries and Bajaj Finance, which show up in the list of the biggest wealth creators, are also present in the all-round list. While Reliance Industries tops the list of the biggest wealth creators with ₹13.02 lakh crore billion created between 2017-22. Bajaj Finance, with ₹3.61 lakh crore created in the same period occupies the fifth position on the biggest wealth creators list.

India’s top ten wealth creators between 2017-22


Coforge and Mindtree beat Reliance Industries, TCS to the punch

The all-round wealth creator list is a cumulative list that takes into account factors like the biggest, fastest and most consistent wealth creators.

Of the companies on the top ten all-round wealth creators list, apart from the two Adani Group companies, only Coforge and Mindtree also appear on two out of the three component individual lists – fastest and most consistent.

Mindtree, ranked fourth in the all-round list, is also the tenth fastest and the fourth most consistent wealth creator. Its share price has delivered a CAGR of 57% between 2017-22.

Coforge is ranked 10th on the list of top all-round wealth creators. It is also the 9th fastest and 3rd most consistent wealth creator, with its share price delivering a CAGR of 59% between 2017-22.

The surprise entrants in all-round wealth creators

The list of all-round wealth creators has a few surprise entries.

Top all-round wealth creators	Share price CAGR (2017-22)
Adani Enterprises	97%
Adani Transmission	106%
L&T Infotech	54%
Mindtree	57%
Divi's Labs	48%
SRF	52%
Bajaj Finance	44%
Reliance Industries	32%
Titan Company	41%
Coforge	59%

Source: Motilal Oswal Annual Wealth Creation Study 2022

This includes L&T Infotech, Divi’s Labs headed by the billionaire scientist Murali Divi, and SRF, a chemicals company owned by Kama Holdings. Interestingly, Kama Holdings, with a valuation of ₹8,388 crore, has only three employees.

These three companies’ stock prices have delivered a CAGR of 48-54% between 2017 and 2022, which is double the average 27% CAGR of the top 10 biggest wealth creators.

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