The number of Indian companies was second only to the 65 firms from both China and Hong Kong that found a location in the list.
Among the Indian companies that made the grade tend to be SRF, which manufactures chemical-based industrial intermediates; Polyplex, which makes polyester film; as well as Glodyne Technoserve, an IT services company, Forbes Asia said today.
However, India's biggest storage-battery producer, Exide Industries -- which was present in the list last year -- grew too big to be contained in the 200-company list for 2011, having breached the $1-billion sales mark in yesteryear 12 months.
The Asia-Pacific list ranks public companies in the Asia-Pacific area with annual revenues between $5 million and $1 billion. The companies were also evaluated when it comes to return on equity, said Forbes Asia.
Tim Ferguson, the Editor of Forbes Asian countries, said: "Essentially, these are our picks of the companies that have best managed with the economic volatility that began in 2008. Most navigated the global credit crunch with little to no debt on the balance sheets. On average, the companies on the list have a 13 percent debt-to-equity ratio and 67 of these companies carry no debt at just about all. "
Pakistan has two companies on the list, namely Millat Tractors, that builds agricultural tractors, and software company Netsol Technologies.
Sri Lanka has four companies about the list -- Asian Alliance Insurance, Ceylon Investment, Renuka Holdings and chicken digesting company Bairaha Farm.