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Dec 14, 2025, 10:56:54 AM IST
The Motilal Oswal 30th Annual Wealth Creation Study (2020–2025) analyses the top 100 companies in India that have created the most wealth for investors over the last five years. Wealth creation is measured by the increase in market capitalisation, adjusted for corporate actions such as mergers, demergers, buybacks, capital issuance, and dividends.
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Wealth creation hits an all-time high of Rs 148 trillion
The 2020–2025 period witnessed record-breaking wealth creation, with the top 100 wealth creators adding a staggering Rs 148 trillion in market capitalisation. This marks the highest five-year wealth creation figure in the 30-year history of the study. During this time, wealth creation grew at a remarkable CAGR of 38%, far outpacing the BSE Sensex’s CAGR of 21%.
Agencies
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Who was the biggest wealth creator?
Bharti Airtel has been identified as the biggest wealth creator in the past five years, generating Rs 7.9 trillion in wealth. The company’s strong operating performance and consistent re-rating played a key role in driving this exceptional value creation. ICICI Bank and SBI followed as the next largest contributors to investor wealth.
ETMarkets.com
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Who was the fastest wealth creator in the list?
BSE has secured the top position among the fastest wealth creators, delivering a total return CAGR of 124% over the study period. An equal investment in the top 10 fastest wealth creators would have grown from Rs 10 million to Rs 240 million, translating to an 88% CAGR, significantly higher than the Nifty TRI’s 24%.
ETMarkets.com
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Most consistent wealth creator?
Hindustan Aeronautics Limited (HAL) has been recognised as the most consistent wealth creator, having outperformed the Nifty TRI in all five years. The company posted a 75% total return CAGR and also emerged as the best all-around wealth creator, reflecting its strong execution across scale, consistency, and speed.
Agencies
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Sector that led India’s wealth creation story
Financials remained the largest contributors to overall wealth creation in India, supported by robust profitability, healthy credit growth, and strong balance sheets. The dominance of financials reflects their central role in India’s market performance over the past five years, with major banks and financial institutions featuring prominently in the rankings.
IANS
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PSU’s revival and sectoral breakout trends
The study highlights a strong turnaround in public sector enterprises, especially in defence, energy, and utilities. Companies such as HAL, BEL, and NTPC stood out in the rankings, signalling a renewed investor interest in government-backed businesses. Industrials, capital markets, technology, and utility sectors also featured as key themes driving wealth creation.
THE ECONOMIC TIMES
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What is in it for the investors?
This year’s study reinforces the importance of long-term investing and focusing on companies with consistent execution and strong fundamentals. Investors can draw valuable lessons from the standout performers across categories, whether it’s identifying companies with strong re-rating potential like Bharti Airtel, or consistently outperforming stocks like HAL. The study also highlights the resurgence of PSUs and sector-specific rotations that are shaping market opportunities.
TIL Creatives
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Applying wealth creation insights to your portfolio
For investors, this study serves as a guide to constructing a well-balanced portfolio by including companies that demonstrate high growth, consistency, and all-around strength. Using insights from the wealth creation study, investors can identify long-term compounders, monitor sector trends, and adopt a disciplined approach to investing based on data-backed performance rather than short-term speculation.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
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