The fiscal year 2008-09 has been a tough year for IT companies globally. The turmoil in the BFSI sector and US the biggest market for IT companies has hit them hard. For the first time in many years some companies in the DQ Top 20 club witnessed single-digit growth.
While many though could sustain double-digit growth, the slowdown pangs were clearly visible in their growth chart and guidance. The biggest lesson of the slowdown has been not to put all eggs in one basket. The spending squeeze in the global markets has suddenly awakened IT companies to the potential of the domestic market. Today, all IT companies in India are aggressively looking at the Indian market to insulate their growth.
Here’s looking into the biggest 15 IT companies in India as per their year 2008-09 revenues.
1)TCS - the company clocked Rs 25,894 crore in revenues.the company made impressible gains in other sectors like manufacturing, healthcare and engineering services to grow by 22% year on year.
2)Wipro - The company beat its larger rivals TCS and Infosys to post a revenue growth of 41% (excluding BPO). The company recorded revenues of Rs 23,882 crore during the fiscal 2008-09 which saw its two divisions Wipro Technologies and Wipro Infotech synergies better for total outsourcing deals.
The company fought the likes of IBM and HP on the domestic turf to wrestle Aircel, Wnitech Wireless and ESIC deals. The company's Middles East operations
grew by over 280%.
3)Infosys - The third biggest IT company in India is Infosys with 2008-09 revenues of Rs 20,392 crore. The company closed the year with a 31% growth, with Europe and the US contributing 90% of the total revenues.
4)HP India - Parent company's acquisition of EDS helped solidify HP's services business in the Indian market, with 18% of the revenues coming from the domestic segment.
5)IBM INDIA - At no. 5 is IBM India. With revenues of Rs 12,048 crore, the company grew by a decent 36% during the fiscal 2008-09 (excluding BPO business). The FY ‘09 saw the share of domestic revenue in the overall pie increase to 48%, from the previous year's 42%.
6)CTS - the company which gets four-fifth of its revenues from the US and half of this from the BFSI sector grew by almost 49% during the fiscal year 2008-09. With this the company recorded highest growth among all IT companies in the country for the third year in a row.
7)INGRAM MICRO - Incidentally, the company witnessed healthy growth in the first half of fiscal 2008-09, however, the poor showing in the second half wiped out the gains of the first half.
8)HCL -At no. 8 is HCL Technologies. The company grew by 41% to clock revenues of Rs 8,764 crore. The biggest highlight of the fiscal 2008-09 for the company was its acquisition of UK-based Axon for which it pipped rival Infosys technologies.
The $658 million Axon buy was the biggest acquisition in the history of Indian IT. The company said that the acquisition was the part of its Blue Ocean strategy, which aims to expand in high-potential areas with low competition.
9) HCL Infosystems- The ninth largest Indian IT company is HCL Infosystems. With Rs 8,089 crore revenues, the company grew by almost 60% during the fiscal 2008-09 largely riding on its services business.
10)Redington India - The tenth largest IT company in India is Redington. Slowdown hit the company badly during the fiscal 2008-09, with growth slipping to 5% from 25% in the previous year.
11)CISCO Systems - At no. 11 is Cisco Systems. In its 14-year history in the country, for the first time Cisco recorded single-digit growth. The company grew by mere 4% to record revenues of Rs 6,084 crore.
12)Oracle - The fiscal year 2008-09 saw Oracle record revenues of Rs 5,962 crore to emerge as the 12th biggest IT company in the country. The Indian subsidiary of the US-based IT behemoth grew by a mere 3% during the year. However, Oracle Financial Services, which bough iFlex Solutions, grew by a healthy 23% to gross revenues of Rs 2,213 crore.
13)Intel India -At no. 13 is Intel India. The slowdown in the PC market affected the company's business in the country. The fiscal year 2008-09 saw the company growing by a mere 9% to record revenues of Rs 4,698 crore.
14)Accenture India - The 14th largest IT company in the country is Accenture. The company witnessed a growth of 16% to record revenues of Rs 4,400 crore during the fiscal year 2008-09.
15)SAP India - With revenues of Rs 4,320 crore, SAp India is the 15th largest IT company. The company grew by an impressive 33% in the fiscal 2008-09, with India becoming the seventh largest subsidiary for SAP globally, beating China.
