By Entrepreneur Staff Writer

Global management consultancy, Hay Group, on 16 July released the findings of the second edition of India's Most Admired Companies (IMAC) research.

Business solutions major Tata Consultancy Services (TCS) has topped the ranking for 2013, followed by Hindustan Unilever (HUL), ITC, and Infosys. The study has been conducted in association with Fortune India.

The study, a Hay Group statement says, is based on a unique peer ranking methodology, which covered 493 companies across the economy's 16 key sectors.

A total of 552 respondents participated to rank their peers across a scale of ten parameters - corporate governance, endurance, performance, quality, financial soundness, innovativeness, leadership, talent management, social responsibility, and global business.

TCS tops the list this year, replacing last year's winner, group company Tata Steel, by scoring highest on parameters such as corporate governance, financial soundness, and talent management.

Second-ranked FMCG HUL has been rated highest on its endurance and product quality, while ITC and Infosys share the joint third spot, the release says.

SBI, L&T, Tata Steel, ONGC, Maruti Suzuki, and ICICI Bank also feature in the top ten.

Interestingly, last year's top ten did not include any public sector enterprises, while SBI and ONGC figure in the list this year.

ICICI Bank makes its debut in the top ten this year, while Colgate Palmolive, Tata Motors, and Dell India all have slipped down the order compared to their ranking last year.

The study has also compiled sectoral rankings for 16 key industries - based on their performance on the ten evaluation criteria for the study.

Gaurav Lahiri, Managing Director, Hay Group India, says, "This year, two criteria in particular, Leadership, and Creating Shareholder Value, separated the Top 10 from the rest of the winners, with Talent Management coming in a close third."