Eight Indian companies, led by state-run IOC, have made it to the latest Fortune Global 500 list of world's biggest firms which has been topped by US-based retailer Wal-Mart after a gap of two years.
Among the Indian companies, which also includes Reliance Industries, BPCL, HPCL, SBI and ONGC, only Tata Motors has managed to improve the ranking and other seven have fallen.
Globally, Wal-Mart has pushed energy giant Royal Dutch Shell to the second position in the 2014 list, followed by Chinese majors -- Sinopec Group and China National Petroleum -- at third and fourths spots, respectively.
Exxon Mobil is ranked fifth, taking the total number of US companies on the list to 128. There are 95 Chinese firms and 150 from Europe on the list, which ranks firms across the world on the basis of their annual revenues.
Wal-Mart has topped the list with revenues of USD 476.29 billion, while that of top ranked Indian company IOC's is USD 81.32 billion.
IOC is the only Indian company featuring in the top 100 at the 96th position, although down from 88th last year.
There are five state-run and three private sector companies including two from Tata group (Tata Motors and Tata Steel).
Reliance Industries is placed at 114th position, followed by Bharat Petroleum (242), Hindustan Petroleum (284), Tata Motors (287), State Bank of India (303), ONGC (424) and Tata Steel (486).
Tata Motors has moved up from 316th position last year.
Fortune magazine said there were record number of 17 women as CEOs of Fortune Global 500 companies which includes two first timers from India -- HPCL's Nishi Vasudeva and SBI's Arundhati Bhattacharya.
"After limping through a worldwide financial crisis and economic slowdown, the 500 largest companies ranked by revenues shattered all sorts of performance records in 2013:
"They racked up combined revenues of USD 31.1 trillion, up 2.5 per cent from 2012, and profits soared 27 per cent to nearly USD 2 trillion," the magazine said.
Other companies in the top ten include BP (6th rank), State Grid (7), Volkswagen (8), Toyota (9) and Glencore (10).
Warren Buffett-led Berkshire Hathaway is ranked 14th while Apple is at the 15th place.