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| Rank | Company | Market capitalization (December 2023) |
| 1 | Sun Pharma | ₹295,466 crore (US$37 billion) |
| 2 | Cipla | ₹100,787 crore (US$13 billion) |
| 3 | Dr. Reddy’s Laboratories | ₹98,218 crore (US$12 billion) |
| 4 | Divi’s Laboratories | ₹96,242 crore (US$12 billion) |
| 5 | Mankind Pharma | ₹76,792 crore (US$9.6 billion) |
| 6 | Torrent Pharmaceuticals | ₹72,168 crore (US$9.0 billion) |
| 7 | Zydus Lifesciences | ₹64,305 crore (US$8.1 billion) |
| 8 | Aurobindo Pharma | ₹61,154 crore (US$7.7 billion) |
| 9 | Lupin | ₹57,530 crore (US$7.2 billion) |
| 10 | Alkem Laboratories | ₹55,064 crore (US$6.9 billion) |
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