Supporting table for company profile
| S.No | Total companies selected (NIFTY 50) | NIFTY 50 companies with tax haven subsidiaries | NIFTY 50 companies with tax haven investments or companies with both subsidiaries and investment |
|---|---|---|---|
| 1 | Adani Enterprises Ltd. | Adani Enterprises Ltd. | Adani Enterprises Ltd. |
| 2 | Adani Ports & Special Economic Zone Ltd. | Adani Ports & Special Economic Zone Ltd. | Adani Ports & Special Economic Zone Ltd. |
| 3 | Apollo Hospitals Enterprise Ltd. | Apollo Hospitals Enterprise Ltd. | Apollo Hospitals Enterprise Ltd. |
| 4 | Asian Paints Ltd. | Asian Paints Ltd. | Bajaj Auto Ltd. |
| 5 | Axis Bank Ltd. | Bajaj Auto Ltd. | Bharti Airtel Ltd. |
| 6 | Bajaj Auto Ltd. | Bharti Airtel Ltd. | Britannia Industries Ltd. |
| 7 | Bajaj Finance Ltd. | Britannia Industries Ltd. | Cipla Ltd. |
| 8 | Bajaj Finserv Ltd. | Cipla Ltd. | Divi'S Laboratories Ltd. |
| 9 | Bharat Petroleum Corpn. Ltd. | Divi'S Laboratories Ltd. | Dr Reddy'S Laboratories Ltd. |
| 10 | Bharti Airtel Ltd. | Dr Reddy'S Laboratories Ltd. | Grasim Industries Ltd. |
| 11 | Britannia Industries Ltd. | Eicher Motors Ltd. | Hero Motocorp Ltd. |
| 12 | Cipla Ltd. | Grasim Industries Ltd. | Hindalco Industries Ltd. |
| 13 | Coal India Ltd. | Hero Motocorp Ltd. | I C I C I Bank Ltd. |
| 14 | Divi'S Laboratories Ltd. | Hindalco Industries Ltd. | Infosys Ltd. |
| 15 | Dr Reddy'S Laboratories Ltd. | I C I C I Bank Ltd. | J S W Steel Ltd. |
| 16 | Eicher Motors Ltd. | I T C Ltd. | Larsen & Toubro Ltd. |
| 17 | Grasim Industries Ltd. | Infosys Ltd. | Ltimindtree Ltd. |
| 18 | H C L Technologies Ltd. | J S W Steel Ltd. | Reliance Industries Ltd. |
| 19 | H D F C Bank Ltd. | Kotak Mahindra Bank Ltd. | Sun Pharmaceutical Inds. Ltd. |
| 20 | H D F C Life Insurance Co. Ltd. | Larsen & Toubro Ltd. | Tata Consultancy Services Ltd. |
| 21 | Hero Motocorp Ltd. | Ltimindtree Ltd. | Tata Motors Ltd. |
| 22 | Hindalco Industries Ltd. | Mahindra & Mahindra Ltd. | Tata Steel Ltd. |
| 23 | Hindustan Unilever Ltd. | Reliance Industries Ltd. | Tech Mahindra Ltd. |
| 24 | I C I C I Bank Ltd. | State Bank Of India | U P L Ltd. |
| 25 | I T C Ltd. | Sun Pharmaceutical Inds. Ltd. | Ultratech Cement Ltd. |
| 26 | Indusind Bank Ltd. | Tata Consultancy Services Ltd. | Wipro Ltd. |
| 27 | Infosys Ltd. | Tata Motors Ltd. | |
| 28 | J S W Steel Ltd. | Tata Steel Ltd. | |
| 29 | Kotak Mahindra Bank Ltd. | Tech Mahindra Ltd. | |
| 30 | Larsen & Toubro Ltd. | Titan Company Ltd. | |
| 31 | Ltimindtree Ltd. | U P L Ltd. | |
| 32 | Mahindra & Mahindra Ltd. | Ultratech Cement Ltd. | |
| 33 | Maruti Suzuki India Ltd. | Wipro Ltd. | |
| 34 | N T P C Ltd. | ||
| 35 | Nestle India Ltd. | ||
| 36 | Oil & Natural Gas Corpn. Ltd. | ||
| 37 | Power Grid Corpn. Of India Ltd. | ||
| 38 | Reliance Industries Ltd. | ||
| 39 | S B I Life Insurance Co. Ltd. | ||
| 40 | State Bank of India | ||
| 41 | Sun Pharmaceutical Inds. Ltd. | ||
| 42 | Tata Consultancy Services Ltd. | ||
| 43 | Tata Consumer Products Ltd. | ||
| 44 | Tata Motors Ltd. | ||
| 45 | Tata Steel Ltd. | ||
| 46 | Tech Mahindra Ltd. | ||
| 47 | Titan Company Ltd. | ||
| 48 | U P L Ltd. | ||
| 49 | Ultratech Cement Ltd. | ||
| 50 | Wipro Ltd. |
| S.No | Total companies selected (NIFTY 50) | NIFTY 50 companies with tax haven subsidiaries | NIFTY 50 companies with tax haven investments or companies with both subsidiaries and investment |
|---|---|---|---|
| 1 | Adani Enterprises Ltd. | Adani Enterprises Ltd. | Adani Enterprises Ltd. |
| 2 | Adani Ports & Special Economic Zone Ltd. | Adani Ports & Special Economic Zone Ltd. | Adani Ports & Special Economic Zone Ltd. |
| 3 | Apollo Hospitals Enterprise Ltd. | Apollo Hospitals Enterprise Ltd. | Apollo Hospitals Enterprise Ltd. |
| 4 | Asian Paints Ltd. | Asian Paints Ltd. | Bajaj Auto Ltd. |
| 5 | Axis Bank Ltd. | Bajaj Auto Ltd. | Bharti Airtel Ltd. |
| 6 | Bajaj Auto Ltd. | Bharti Airtel Ltd. | Britannia Industries Ltd. |
| 7 | Bajaj Finance Ltd. | Britannia Industries Ltd. | Cipla Ltd. |
| 8 | Bajaj Finserv Ltd. | Cipla Ltd. | Divi'S Laboratories Ltd. |
| 9 | Bharat Petroleum Corpn. Ltd. | Divi'S Laboratories Ltd. | Dr Reddy'S Laboratories Ltd. |
| 10 | Bharti Airtel Ltd. | Dr Reddy'S Laboratories Ltd. | Grasim Industries Ltd. |
| 11 | Britannia Industries Ltd. | Eicher Motors Ltd. | Hero Motocorp Ltd. |
| 12 | Cipla Ltd. | Grasim Industries Ltd. | Hindalco Industries Ltd. |
| 13 | Coal India Ltd. | Hero Motocorp Ltd. | I C I C I Bank Ltd. |
| 14 | Divi'S Laboratories Ltd. | Hindalco Industries Ltd. | Infosys Ltd. |
| 15 | Dr Reddy'S Laboratories Ltd. | I C I C I Bank Ltd. | J S W Steel Ltd. |
| 16 | Eicher Motors Ltd. | I T C Ltd. | Larsen & Toubro Ltd. |
| 17 | Grasim Industries Ltd. | Infosys Ltd. | Ltimindtree Ltd. |
| 18 | H C L Technologies Ltd. | J S W Steel Ltd. | Reliance Industries Ltd. |
| 19 | H D F C Bank Ltd. | Kotak Mahindra Bank Ltd. | Sun Pharmaceutical Inds. Ltd. |
| 20 | H D F C Life Insurance Co. Ltd. | Larsen & Toubro Ltd. | Tata Consultancy Services Ltd. |
| 21 | Hero Motocorp Ltd. | Ltimindtree Ltd. | Tata Motors Ltd. |
| 22 | Hindalco Industries Ltd. | Mahindra & Mahindra Ltd. | Tata Steel Ltd. |
| 23 | Hindustan Unilever Ltd. | Reliance Industries Ltd. | Tech Mahindra Ltd. |
| 24 | I C I C I Bank Ltd. | State Bank Of India | U P L Ltd. |
| 25 | I T C Ltd. | Sun Pharmaceutical Inds. Ltd. | Ultratech Cement Ltd. |
| 26 | Indusind Bank Ltd. | Tata Consultancy Services Ltd. | Wipro Ltd. |
| 27 | Infosys Ltd. | Tata Motors Ltd. | |
| 28 | J S W Steel Ltd. | Tata Steel Ltd. | |
| 29 | Kotak Mahindra Bank Ltd. | Tech Mahindra Ltd. | |
| 30 | Larsen & Toubro Ltd. | Titan Company Ltd. | |
| 31 | Ltimindtree Ltd. | U P L Ltd. | |
| 32 | Mahindra & Mahindra Ltd. | Ultratech Cement Ltd. | |
| 33 | Maruti Suzuki India Ltd. | Wipro Ltd. | |
| 34 | N T P C Ltd. | ||
| 35 | Nestle India Ltd. | ||
| 36 | Oil & Natural Gas Corpn. Ltd. | ||
| 37 | Power Grid Corpn. Of India Ltd. | ||
| 38 | Reliance Industries Ltd. | ||
| 39 | S B I Life Insurance Co. Ltd. | ||
| 40 | State Bank of India | ||
| 41 | Sun Pharmaceutical Inds. Ltd. | ||
| 42 | Tata Consultancy Services Ltd. | ||
| 43 | Tata Consumer Products Ltd. | ||
| 44 | Tata Motors Ltd. | ||
| 45 | Tata Steel Ltd. | ||
| 46 | Tech Mahindra Ltd. | ||
| 47 | Titan Company Ltd. | ||
| 48 | U P L Ltd. | ||
| 49 | Ultratech Cement Ltd. | ||
| 50 | Wipro Ltd. |
Source(s): Compiled by the Authors based on the annual report of the companies
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.