SA’s top 100 companies: the full list for 2024
The annual South Australian Business Index of the top 100 private and public companies in the state was announced on Friday afternoon.
InDaily’s ranking of the state’s top 100 companies by market capitalisation and revenue covers the 2023-24 financial year.
The list, compiled for InDaily by financial services firm HLB Mann Judd, is the state’s most definitive guide to our top companies (scroll to the bottom of the page for eligibility criteria, a ” – ” indicates that a private company has asked for its revenue not to be made public).
Go here for our comprehensive analysis of the Index and scroll for the winners of individual awards: the rising star award for the company that has jumped furthest up the rankings, a revenue growth award, the standout large employer, the corporate social responsibility award for the company who has helped improve society and the environment for 2024, and another recognising the best new entrant to the Index.
| 100 to 91 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 100 | Sparc Technologies Limited | – | – | $1,422,060 | Tech |
| 99 | Knoll Consultants & Investments Pty Ltd | – | – | – | Professional Services |
| 98 | Maggie Beer Holdings Limited | 90 | -8 | 89734000 | FMCG |
| 97 | LBT Innovations Limited | – | – | $1,256,000 | Healthcare |
| 96 | Adsteel Brokers Pty Ltd | 91 | -5 | – | Manufacturing |
| 95 | Magnetite Mines Limited | 100 | 5 | 236310 | Resources |
| 94 | Centrex Limited | 79 | -15 | $32,468,000 | Resources |
| 93 | Beerenberg Pty Ltd | – | – | – | FMCG |
| 92 | Neutrog Australia | – | – | 21327092 | Agriculture |
| 91 | Axiom Properties Limited | – | – | 1579000 | Real Estate |
| 90 to 81 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 90 | Andromeda Metals Limited | 63 | -27 | $0 | Resources |
| 89 | Aerometrex Limited | 99 | 10 | $24,759,000 | Professional Services |
| 88 | Robern Menz (MFG) Pty Ltd | – | – | – | FMCG |
| 87 | Clean Seas Seafood Limited | 66 | -21 | $68,801,000 | FMCG |
| 86 | Micro-X Limited | 75 | -11 | $15,222,000 | Tech |
| 85 | Cochrane’s Transport | 80 | -5 | $80,562,000 | Transport & Logistics |
| 84 | Southcott Pty Ltd | – | – | $77,900,000 | Manufacturing |
| 83 | Racing SA | 64 | -19 | – | Other |
| 82 | Marmota Limited | 98 | 16 | 970 | Resources |
| 81 | Mykra Pty Ltd | 96 | 15 | 47776404 | Civil & Construction |
| 80 to 71 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 80 | Arrowcrest | 56 | -24 | $32,300,000 | Industrial |
| 79 | Prophecy International Holdings Limited | 89 | 10 | $23,192,450 | Resources |
| 78 | Nova Eye Medical Limited | 94 | 16 | $23,325,000 | Healthcare |
| 77 | Humanihut Pty Ltd | – | – | 27444769 | Civil & Construction |
| 76 | AML3D Limited | – | – | $7,324,870 | Manufacturing |
| 75 | Matthews Hospitality | 62 | -13 | $71,600,000 | Hospitality |
| 74 | Australian Vintage Ltd | 57 | -17 | $260,594,000 | Wine & Beer |
| 73 | Barton Gold Holdings Limited | 88 | 15 | $468,000 | Resources |
| 72 | Adrad Holdings Limited | 69 | -3 | 143377640 | Automotive |
| 71 | AJ & PA McBride Ltd | 48 | -23 | $31,810,000 | Agriculture |
| 70 to 61 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 70 | Nippy’s | – | – | – | FMCG |
| 69 | Havilah Resources Limited | 67 | -2 | $8,100 | Resources |
| 68 | Investigator Resources Limited | 77 | 9 | $13,640 | Resources |
| 67 | Iron Road Limited | 73 | 6 | $1,000,770 | Resources |
| 66 | Jade Gas Holdings Limited | 84 | 18 | ($26,860) | Oil and Gas |
| 65 | FCT Holdings | 83 | 18 | $48,000,000 | Engineering Services |
| 64 | Outside Ideas | 87 | 23 | $87,097,104 | Civil & Construction |
| 63 | Duxton Farms Limited | 76 | 13 | 24076000 | Agriculture |
| 62 | Archer Materials Limited | 53 | -9 | $2,135,940 | Resources |
| 61 | Mayfield Group Holdings Limited | 93 | 32 | $85,692,320 | Engineering Services |
| 60 to 51 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 60 | A.E. Haigh Proprietary Limited | – | – | $62,100,000 | FMCG |
| 59 | Redarc Pty Ltd | – | – | – | Manufacturing |
| 58 | Michell Wool Pty Limited | – | – | $37,200,000 | Manufacturing |
| 57 | Guidera O’Connor | 54 | -3 | – | Engineering Services |
| 56 | William Buck | 95 | 39 | – | Financial Services |
| 55 | Barossa Fine Foods | 72 | 17 | – | FMCG |
| 54 | Finsbury Green Pty Ltd | 86 | 32 | $93,440,000 | Industrial |
| 53 | Mossop Group Pty Ltd | – | – | – | Civil & Construction |
| 52 | Terramin Australia Limited | 85 | 33 | 114000 | Resources |
| 51 | Fairmont Homes Pty Ltd | 70 | 19 | – | Civil & Construction |
| 50 to 41 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 50 | Hillgrove Resources Limited | 51 | 1 | $40,247,000 | Resources |
| 49 | Korvest Ltd | 59 | 10 | $102,928,000 | Manufacturing |
| 48 | Maughan Thiem Automotive Pty Ltd | 61 | 13 | $283,441,000 | Automotive |
| 47 | Fyfe Pty LTd | 71 | 24 | $105,239,000 | Engineering Services |
| 46 | Leed Engineering and Construction Pty Ltd | 43 | -3 | – | Civil & Construction |
| 45 | Samuel Smith & Son Pty Limited | – | – | $274,825,000 | Wine & Beer |
| 44 | Elixir Energy Limited | 74 | 30 | $1,671,820 | Oil and Gas |
| 43 | SAGE Automation | – | – | $216,292,528 | Tech |
| 42 | Duxton Water Limited | 40 | -2 | $31,139,000 | Agriculture |
| 41 | Badge Group Holdings Pty Limited | – | – | 437726000 | Civil & Construction |
| 40 to 31 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 40 | Renascor Resources Limited | 27 | -13 | $800 | Resources |
| 39 | Lucas Total Contract Solutions | 50 | 11 | 288290000 | Engineering Services |
| 38 | MGA and Whittles Group of Companies. | – | – | $158,962,000 | Professional Services |
| 37 | Almond Co | 41 | 4 | $259,675,000 | Agriculture |
| 36 | Beyond Bank | 31 | -5 | $388,735,000 | Financial Services |
| 35 | Peter Kittle Motor Company | 45 | 10 | $634,882,000 | Automotive |
| 34 | Celsus Holding Pty Ltd | – | – | $540,138,000 | Infrastructure |
| 33 | Epic Energy South Australia Pty Ltd | – | – | – | Oil and Gas |
| 32 | Nova Systems Pty Ltd | 25 | -7 | $466,865,000 | Engineering Services |
| 31 | Sarah Group | 37 | 6 | $600,000,000 | Civil & Construction |
| 30 to 21 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 30 | Ahrens Group | 30 | – | $603,000,000 | Civil & Construction |
| 29 | Rex Minerals Limited | 52 | 23 | – | Resources |
| 28 | Exact Contracting | 78 | 50 | 339833000 | Engineering Services |
| 27 | McMahon Services | 22 | -5 | 583172000 | Civil & Construction |
| 26 | Detmold Holdings Pty Ltd | – | – | $634,000,000 | Industrial |
| 25 | Thomson Geer | 34 | 9 | $265,000,000 | Professional Services |
| 24 | Tasmea Limited | – | – | 400005000 | Engineering Services |
| 23 | Coopers Brewery Limited | – | – | $308,000,000 | Wine & Beer |
| 22 | Mayne Pharma Group Limited | 36 | 14 | 388399000 | Pharmaceuticals |
| 21 | Royal Automobile Association of South Australia Inc | – | – | $678,545,000 | Transport & Logistics |
| 20 to 11 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 20 | Leader Computers Pty Ltd | 26 | 6 | $687,000,000 | Tech |
| 19 | San Remo | 24 | 5 | 643803000 | FMCG |
| 18 | K&S Corporation Limited | – | – | $824,577,000 | Transport & Logistics |
| 17 | Cooper Energy Limited | 32 | 15 | $219,047,000 | Oil and Gas |
| 16 | Living Choice Australia Pty Ltd | – | – | – | Real Estate |
| 15 | Drakes Supermarkets Pty Ltd | – | – | – | FMCG |
| 14 | Chrysos Corporation Limited | 17 | 3 | $45,361,000 | Industrial |
| 13 | Kilbirnie Investments Pty Ltd (CMV) | – | – | $2,077,983,000 | Automotive |
| 12 | People First Bank | – | – | 569600000 | Financial Services |
| 11 | Kelsian Group Limited | 6 | -5 | $2,037,709,000 | Transport & Logistics |
| 10 to 1 | |||||
|
Rank
| Company Name | FY22 Rank | Move | Revenue FY23 | Industry |
| 10 | Discovery Parks | 9 | -1 | – | Tourism |
| 9 | Flinders Port Holdings Pty Limited | 7 | -2 | $301,626,000 | Infrastructure |
| 8 | Land Services | 12 | 4 | – | Real Estate |
| 7 | Elders Limited | 13 | 6 | $3,005,853,000 | Agriculture |
| 6 | Adelaide Airport | 8 | 2 | $284,828,000 | Infrastructure |
| 5 | Thomas Foods International Consolidated Pty Limited | 5 | – | $3,019,380,000 | FMCG |
| 4 | Codan Limited | 11 | 7 | $550,459,000 | Tech |
| 3 | Beach Energy Limited | 4 | 1 | 1797600000 | Oil and Gas |
| 2 | Argo Investments Limited | 2 | – | $282,382,000 | Financial Services |
| 1 | Santos Limited | 1 | – | $8,442,740,400 | Oil and Gas |
You might like
SA Business Index 2024 Award Winners
REVENUE GROWTHSponsored by HLB Mann Judd Recognising the largest revenue growth on the list for 2024. Winner: Mayne Pharma Group |
STANDOUT LARGE EMPLOYERSponsored by ANZ Recognising one of South Australia’s largest employers for 2024. Winner: Thomas Foods International |
RISING STARSponsored by South Australian Business Chamber Recognising the company which has risen highest on the list for 2024. Winner: Exact Contracting |
BEST NEW ENTRANTSponsored by IP Parnters Recognising the highest-ranking new entrant on the list for 2024. Winner: Living Choice Australia |
CORPORATE SOCIAL RESPONSIBILITYSponsored by Lutheran Homes Group Recognising the company which has helped improve society and the environment for 2024. Winner: Humanihut |
Stay informed, daily
About the SA Business Index
South Australia’s economy is powered by companies – some of them well known and some of them with a low profile. InDaily created the South Australian Business Index to independently rank the state’s top 100 businesses – an exercise which allows us to track shifts not only in the performance of individual companies, but also in the state’s overall economic picture.
It has become South Australia’s most definitive guide to the performance of our biggest companies and a key annual insight into the private sector drivers of the economy. This year the analysis is produced for InDaily by financial services firm HLB Mann Judd.
Methodology
The Index is based on an estimated ‘market capitalisation’, which values each constituent within the Index to enable ranking. For listed entities, given these companies have securities that trade on the ASX, this is readily identifiable using market observation. We note, all listed entities have been valued as at 28 August 2024. For unlisted entities, HLB Mann Judd has used their professional judgement to estimate a market capitalisation using the market valuation approach. This approach involves:
- Estimating profit: Assuming available, HLB Mann Judd has adopted the constituent’s profit figure. If only revenue data is made available, a profit margin has been estimated using publicly available statistics of the industry in which the entity operates.
- Determining an earnings multiple: An appropriate earnings multiple is determined based on the nature of the entity, the industry the entity operates, and listed comparable company and transaction multiples. The selected multiple is then discounted to account for the illiquidity of unlisted entity securities.
- Calculating market capitalisation: The estimated profit is multiplied by the determined earnings multiple.
We note, where applicable, valuations are modified to incorporate the value of property/ infrastructure that would otherwise not be captured using the above valuation methodology.
Further, assuming data has been provided to Solstice Media for unlisted entity’s, HLB Mann Judd has endeavoured to use publicly available data to determine a reasonable market capitalisation estimate.
