As many as nine Indian firms have made it to the Forbes World’s 100 most innovative growth companies list, which has been topped by New Zealand software accounting firm Xero.
Among the Indian companies, Godrej Consumer Products leads the pack and was ranked 31st globally with an enterprise value of $4.25 billion (Rs 24,850 crore) and an innovation premium of 58.7%.
Other Indian firms on the list include ABB India, Marico, United Breweries, Siemens India, Asian Paints, Nestle India, Colgate Palmolive India and Divi’s Labs. ABB India is ranked 37th, with an enterprise value of $2.7 billion (`15,787 crore) and innovation premium of 56.4%.
The list has been made on the basis of innovation premium, a measure of how much investors have bid up the stock price of a company above the value of its existing business, based on expectations of future innovative results (new products, services and markets).