There are several parent companies which have many of their subsidiaries listed on the bourses. We compiled a list of such subsidiaries which have outperformed their parent companies in terms of market returns (1-year, 3-year and 5-year) and have also stolen a march in revenue or earnings growth. The reason we indulged in this exercise was because the performance of a subsidiary company affects the consolidated financials of the parent company, positively or negatively. But, the vice versa does not happen. A subsidiary company's performance is independent of its holding company and thus does not carry an extra risk of the performance of the holding company.
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