Hindustan Media Ventures Ltd (HMVL) has been named by Forbes as one of the Best Under A Billion companies in the Asia-Pacific region. It is one of the 35 Indian companies that have found a place on Forbes Asia’s list of 200. HMVL, publisher of Hindi daily Hindustan, is the only Indian media company to make it to the list.
To qualify for the list a company must have annual revenue between $5 million and $1 billion and be publicly traded for at least a year. HMVL’s primary publication, Hindustan, strongly consolidated its leadership position in Delhi-NCR, Bihar, Jharkhand, Uttar Pradesh and Uttarakhand. HMVL’s IPO, floated in April of 2010, was very well received by investors. Amit Chopra, CEO, HMVL, said, “Being included on this list is a testament to our commitment towards our readers and customers. This honour has bolstered our objective of maintaining the highest standards of journalistic integrity and fast growing into the preferred daily across the Hindi-belt.”
Forbes Asia picked companies that best managed through the economic volatility that began in 2008. On average, the companies on the list have a 13 per cent debt-to-equity ratio and 67 companies on the list carry no debt at all. India is the No. 2 most represented nation on the list. China and Hong Kong come in first with 65 companies. Two companies from Pakistan and four from Sri Lanka also find their way on the list.