Hindustan Unilever Limited (HUL) made it to top ten in the Forbes' list of 100 most innovative companiesNew Delhi: Three Indian firms -- Hindustan Unilever, Asian Paints and Bharti Airtel -- are among Forbes' list of the world's 100 most innovative companies, where Salesforce.com has replaced Tesla Motors on the top position.
While HUL and Asian Paints have moved up in their ranks to seventh and eighth respectively (from 31st and 18th last year), Bharti Airtel has entered the ranking at 78th position.
Tata Consultancy Services (TCS), Sun Pharma and Larsen & Toubro were also on the 2016 list but they failed to make the cut this year, bringing down the total number of Indian firms from five to three.
The annual 'World's Most Innovative Companies' are the ones that investors expect to be innovative now and in the future. Besides, to be included in the list, firms need seven years of public financial data and USD 10 billion in market cap.
Bharti Airtel entered the Forbes' list According to Forbes, companies are ranked by their innovation premium -- the difference between their market capitalization and the net present value of cash flows from existing businesses.
"The difference between them is the bonus given by equity investors on the educated hunch that the company will continue to come up with profitable new growth," the magazine said.
HUL recorded an innovation premium of 68.59 per cent; Asian Paints (68.28 per cent) and Bharti Airtel (41.4 per cent).
Among others in the top 10 are -- Amazon.com (3rd position), Shanghai RAAS Blood Products (4th), Netflix (5th), Incyte (6th), Naver (9th) and Regeneron Pharmaceuticals (10th).
Besides, Adobe Systems, Marriott International, Nielsen, Mastercard, Coca-Cola, Procter & Gamble, PepsiCo, Colgate- Palmolive featured in the list.
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