The Top 20 software exporters accounted for 63% of total software export revenues, in line with the previous two years when the share had stood at 60% and 61%, respectively. This indicates that base-level exporters also grew at around the industry average.

Among the Top 20 software exporters, however, there were significant variations in growth terms. IBM and Infosys posted over 100% growth. Infosys has been on a steady rise for the past few years. It rose from No 4 in 1998-99 to No 3 the following year and is now at No 2. For IBM, on the other hand, last year was significant, especially in view of its dismal performance in 1999-00, when it grew at a mere 8% and fell in ranking from No 8 to No 12. Fiscal 2000-01 saw it climb a few rungs.

Wipro, Satyam Computers, Cognizant Technology Solutions and Patni Computer Services upped their revenue by 70-80%—all grew significantly higher than the industry average. Wipro, however, slid to the No 3 slot after holding the No 2 position for two years, largely because of Infosys’ unprecedented growth. Cognizant Technologies—largely into application management and e-business solutions—went up by one notch from No 7 to No 6. Patni Computer also scaled up the ladder, from 10 to 9.

What was really interesting, however, was the performance of the other two biggies—TCS and HCL. Despite below-industry growth rates, sheer size has ensured that TCS continues to reign supreme at number one. With export earnings of Rs 2,870 crore this year and a strong presence in the manufacturing vertical (billed to be the biggest growth area next year) TCS looks likely to remain at the top for a while. HCL Technologies, on the other hand, did not match up to its erstwhile impressive performance when it grew from a mere Rs 207 crore to over Rs 700 crore (a growth rate of 254%). Growth sobered down a little and though it stayed at the industry average of 60%, it found itself moving down from the fourth to the fifth position.

The two big surprises were Chennai-based Mascon Global and Mphasis BFL—both new entrants in the Top 20 exporters ranking. In 1999-00, Mascon had a total turnover of just Rs 59 crore and a DQ Top 20 ranking of 106. Two big projects this year however brought it more revenues in Q1 of 2000-01 than in the entire previous year. By the end of the FY 2000, the company’s export revenues alone had grown by nearly 500% to Rs 339 crore. Mphasis BFL too moved up from a ranking of 62 in 1999-00 to 17 last year.

The under-achievers (if such a term can be applied to companies in the Top 20) were Pentasoft and Pentamedia that grew at 40% and 35% respectively; i-Flex and Tata Infotech (51%) and MBT (59%). These are more than healthy growth rates by almost any standard. They paled only because of the meteoric growth that companies like Infosys, IBM and to an extent, Satyam and Wipro registered. The only company among the top 20 to have achieved a negative growth, of 2%, was NIIT, as export revenues fell from Rs 579 crore to Rs 570 crore. Overall, it was an exciting year for the Top 20 exporters, one in which companies with below 70% growth fell in the rankings, and in which growth rates of 58% were considered below the industry average.