A new list is turning the spotlight on Kerala’s big players in business. Dhanam Business Media has released the Power List 2025, featuring over 60 companies that reported an annual turnover of more than ₹1,000 crore in the 2025 financial year.
The Power List was unveiled on June 25 at the Dhanam Business Summit and Award Nite 2025 held in Kochi. T C Suseel Kumar, independent director of LIC Housing Finance, handed over the first copy to value investor and Equity Intelligence founder Porinju Veliyath.
The data has been sourced from official company disclosures, stock exchange filings, and records from the Ministry of Corporate Affairs. Wherever the 2025 numbers weren’t available, data from the previous year was used instead. In a few cases, unaudited or provisional data also made the cut.
The list leaves out government institutions with unusual operating models, such as KSEB and the Water Authority, as well as trusts, trading platforms, and cooperative entities. The focus, instead, is on market-driven businesses that seem to have a clear entrepreneurial path.
Only companies headquartered in Kerala were considered, and the cut-off was ₹1,000 crore in turnover. The final list is expected to give readers a broad snapshot of who’s actually running the show in Kerala’s corporate landscape—not based on perception, but by revenue.
Dhanam will publish the full list on Dhanam Online on July 1. It will be available for free download, making it accessible not just to insiders or analysts, but to anyone curious about the scale and structure of Kerala’s business world.