AFTER THE PARTY… The Rich and Famous Remain Bold and Beautiful
The tech-led slowdown did touch the Top 20, but some agile moves saw them survive the worst of the whiplash. A changed market profile and product mix is likely to see Indian IT’s big guns outlive the ongoing downturn and emerge tougher
The party is still on, though the wine isn’t as dark and free flowing. And
while the music is loud as ever, the revelry has been cut short—it is tomorrow’s
hangover that everyone is worried about. But this year’s Top 20 companies have
justified their rankings—they recognized the warning signs, took quick
decisions and changed market dependencies to survive the crash, with most of
their paintwork still intact.
Top 20 Snapshot
Revenues grew from quarter
to quarter, and it was Q4 that showed the highest growth of 27.8%
However, Q4 showed a
negative revenue growth of 3% in fiscal 2000-01, against last year
With a lower share of
12.5%, manufacturing lost its ‘best customer’ status. The banking
and finance sectors, whose share increased from 8.8% to 14%, were the
top spenders
Unlike the industry trend,
it was the domestic market (57%) that grabbed the greater share
Infosys was among the
fastest-growing, with its 115% growth rate propelling it into the Top
5
Celetron, promoted by the
Tandons, was the fastest of them all, growing at 140% to enter the DQ
Top 20 for the first time, grabbing the No 15 slot
Defying the global trend,
Infosys and TCS stepped up recruitment
And the moves that saw this year’s DQ Top 20 companies post an increase of
over 56% in revenues (overall industry grew just over 50%) compared to the
previous year, displayed quick planning and quicker execution. There was
spirited offshore development, new business opportunities were tapped into,
Europe, APAC and other markets emerged as hot new destinations. Consolidation
and overhaul of business models became the rule—there was much to sing about.
The US remained King, but there were others knocking at the palace gates.
Note:
Some companies have changed their figures for the previous year
*
DQ Estimates
An indicator of the staying power of the country’s top IT companies was
that there were few newcomers on the list—only CMC and Tata Infotech slipped
out of the rankings, tantalizingly close to the list, however, at No 23 and No
24, respectively. Moving up fast to fill the slots were Celetron and Cisco
Systems.
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