“Cash is king” continues to be an essential tenet in business, as a robust liquidity allows firms the agility to invest, grow, and reward shareholders. …
1/10No 1. Reliance Industries | Cash reserves: ₹2,43,408 crore | As the nation’s largest corporation, Reliance Industries holds the highest cash reserves among its peers. By March 2026, its cash and equivalents stood at ₹2.43 lakh crore, representing 13% of the total cash held by Nifty 500 companies (excluding financial firms).
2/10No 2. Larsen & Toubro | Cash reserves: ₹80,373 crore | Ranking second in cash reserves, Larsen & Toubro boasts more than ₹80,000 crore on its balance sheet, reflecting an annual growth of 11.4% over the last three years. The engineering giant has also exceeded its FY26 order growth goal of 10%, thanks to strong inflows across various sectors.
3/10No 3. Coal India | Cash reserves: ₹56,762 crore | Coal India stands out as the leading public sector company in cash holdings, with ₹56,762 crore reserves. Notably, the largest coal producer in the country enhanced its cash position by 52% in FY26, while keeping a dividend payout ratio of 52%.
4/10No 4. Wipro | Cash reserves: ₹54,324 crore | Leading the IT sector, Wipro outperformed its rivals by having the highest cash balance among IT firms. The country’s fourth-largest software services provider ranked fourth across India Inc., with cash and cash equivalents totaling ₹54,324 crore.
5/10No 5. Mahindra & Mahindra | Cash reserves: ₹52,783 crore | Mahindra & Mahindra takes the fifth position among India’s corporations, boasting cash and equivalents of ₹52,783 crore as of March 2026. The automaker’s cash on its books has experienced a robust CAGR of 27% over the past three years, indicating strong cash generation and solid balance sheet health.
6/10No 6. InterGlobe Aviation | Cash reserves: ₹49,743 crore | InterGlobe Aviation, which owns IndiGo, ranks sixth in the list for liquid assets, despite reporting a net loss of ₹2,392 crore. The airline faces challenges such as Middle East airspace issues, rising fuel costs, currency depreciation, and heightened damp-lease exposure, yet investors remain optimistic due to strong growth fundamentals and the company’s long-term expansion strategy.
7/10No 7. Tata Motors Passenger Vehicles | Cash reserves: ₹48,269 crore | Buoyed by record sales of 6.42 lakh units in FY26, Tata Motors Passenger Vehicles achieved over 15% year-on-year growth, outpacing the broader industry’s growth rate. By March 2026, the company held cash and cash equivalents of ₹48,269 crore, solidifying its status as the most cash-rich entity within the Tata Group.
8/10No 8. Hindustan Aeronautics | Cash reserves: ₹46,197 crore | Hindustan Aeronautics, a state-owned aerospace and defense manufacturer, is the sole firm outside the Nifty 50 among the top 10 cash-rich companies. Its cash reserves have more than doubled in three years to ₹46,197 crore, propelled by a 16% annual growth in net profit during the same timeframe.
9/10No 9. Tata Consultancy Services | Cash reserves: ₹46,069 crore | Known for being the highest dividend-paying company in the Tata Group, TCS maintains liquid assets of over ₹46,000 crore, even with a slight dip in its cash reserves over the last three years amid ongoing challenges in the IT sector.
10/10No 10. JSW Steel | Cash reserves: ₹41,507 crore | JSW Steel has recorded a compound annual growth rate of 26% in its cash reserves over the past three years, positioning it at the tenth spot among India’s cash-rich companies. The firm anticipates a domestic steel demand increase of 7%–9% in FY27 and has set capital expenditure plans between ₹22,000–₹24,000 crore for the year. (Image: Reuters)
Disclaimer: Network18, the parent of CNBCTV18.com, is run by Independent Media Trust, where Reliance Industries is the sole beneficiary.
