Indian companies' cash reserves rose nearly 12% to surpass $200 billion (₹19.02 lakh crore) in FY26, Bloomberg data showed. Reliance Industries topped the list with cash and cash equivalents of ₹2.43 lakh crore as of March 2026, followed by Larsen & Toubro and Coal India. The increase in cash holdings was driven by cautious capital spending and lower dividend payouts.