Mahindra Satyam
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| Type | Public |
|---|---|
| Traded as | BSE: 500376 OTC Pink: SAYCY |
| Industry | IT services, IT consulting |
| Founded | 1987 |
| Headquarters | Hyderabad, India |
| Key people | Vineet Nayyar (Chairman) C.P. Gurnani (CEO)[1] |
| Services | IT, business consulting and outsourcing services |
| Revenue |  5,145 crore (US$1.03 billion)(2011)[2][3] |
| Profit |  493 crore (US$98.6 million)(2011) |
| Owner(s) | Mahindra Group |
| Employees | 32,092 (2011)[4] |
| Website | www.mahindrasatyam.com |
Mahindra Satyam (BSE: 500376, OTC Pink: SAYCY) is a Brand identity of Satyam Computer Services Limited. Satyam Computer Services Limited was founded in 1987 by B Ramalinga Raju. Mahindra Satyam is a part of the Mahindra Group which is one of the top 10 industrial firms based in India. The company offers consulting and information technology (IT) services spanning various sectors, and is listed on the Pink Sheets, the National Stock Exchange (India) and Bombay Stock Exchange (India). In June 2009, the company unveiled its new brand identity “Mahindra Satyam” subsequent to its takeover by the Mahindra Group’s IT arm, Tech Mahindra on 2009. Mahindra Satyam is ranked #5 in Indian IT companies and overall ranked #153 by Fortune India 500 in 2011.[5]
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[edit] Industry Presence
Mahindra Satyam provides services in the following areas:
- Aerospace and Defence
- Banking, Financial Services & Insurance
- Energy and Utilities
- Life Sciences & Healthcare
- Manufacturing, Chemicals & Automotive
- Public Services & Education
- Retail
- Consumer Packaged Goods
- Travel, Transport, Logistics
- Telecom, Infrastructure, Media and Entertainment & Semiconductors
[edit] Offices of Mahindra Satyam Across The Globe
Mahindra Satyam headquartered in Hyderabad, India has development centres and/or regional offices in the following located Americas, APAC, Europe, Middle East and Africa.
[edit] Mahindra Satyam Campuses
Mahindra Satyam is the largest IT employer of Hyderabad with its 4 campuses:
- Mahindra Satyam Technology Center [Bahadurpally]
- Mahindra Satyam InfoCity [Hitec City]
- Gachibowli Campus [In DLF SEZ]
- Mahindra Satyam GateWay [Bldg 1 & 2 in My Home Hub]
[edit] Global units
Asia Pacific: India-Bangalore, Bhubaneshwar, Chennai, Coimbatore, Hyderabad (Headquarter), Pune, Vishakapatnam, Delhi,[6] Gurgaon,[7] Mumbai.[8]
Australia, China, Hong Kong, Japan, Malaysia, New Zealand, Singapore, Taiwan, Thailand, Korea
Europe: Belgium, Czech Republic, Denmark, France, Finland, Germany, Hungary, Ireland, Italy, Netherlands, Spain, Sweden, Switzerland, United Kingdom.
Middle East and Africa: Bahrain, Egypt, Jordan, Kenya, Kuwait, Qatar, Saudi Arabia, South Africa, United Arab Emirates.
Americas: USA, Canada, Brazil.
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[edit] Competencies
Mahindra Satyam offers the following ‘horizontal’ services.
- Extended Enterprise Solutions
- Web Commerce Solutions
- Business Intelligence Services
- Quality Consulting
- Strategic Outsourcing Services
- Industry Native Solutions
- Business Services Group - BSG (BPO)
- Engineering Services
- Product management
[edit] Partnerships
Feb 11, 2010, Mahindra Satyam, announced that it has entered into a partnership with the Integr8 Group, Africa’s largest privately owned ICT service and solutions provider.[9]
[edit] Merger
Mahindra Satyam's proposed merger with Tech Mahindra may be delayed all because of legal issues, and ambiguity over jurisdiction between investigating agencies and the government.[10] The merger has been delayed due to two tax cases pending with the Income Tax claiming over Rs 2700 crore for both.[11]
[edit] Turnaround
The company had reported a consolidated net loss of Rs 233.3 crore for the July–September quarter of 2010. Speaking at a press conference, Vineet Nayyar, chairman of the company said the consolidate cash and cash equivalents at Rs 30 crore compared to Rs 26 crore. “We will take three [years] for a turnaround,” he informed.[12] Even though the company got 245 crores profit in Q4 for 2010–2011, but due to outside payments nearly 570 crores for SEK,UNIPAID and Class Action Suit in Q4 (Total 641 crores for the year 2010-2011 ),the company had reported a consolidated net loss of Rs 327 crore for the Jan-Mar quarter of 2010-2011.IT firm Mahindra Satyam posted a consolidated net profit of Rs 225.2 crore for the quarter ended June 30, 2011. During the quarter, the company added 2,172 people (net), taking total headcount to 31,438 as of June 30, 2011.[13] The company added 36 new customers during the quarter. The total headcount of the company stood at 32,092 as of the quarter ended September 30,2011 during which net addition of 654 personnel took place.[14]
[edit] Controversies
[edit] Maytas acquisition
In 2008, Satyam attempted to acquire Maytas Infrastructure and Maytas Properties, founded by family relations of company founder Ramalinga Raju (Maytas is "Satyam" reversed) for $1.6 billion, despite concerns raised by independent board directors.[15] Both companies are owned by Raju's sons. This eventually led to a review of the deal by the government,[16] a veiled criticism by the vice president of India[17] and Satyam's clients re-evaluating their relationship with the company.[18] Satyam's investors lost about INR 3,400 crore in the related panic selling. The USD $1.6 billion (INR 8,000 crore) acquisition was met with skepticism as Satyam's shares fell 55% on the New York Stock Exchange.[19] Three members of the board of directors resigned on 29 December 2008.[20]
[edit] Accounting scandal of 2009
In addition to other controversies involving Satyam, on January 7, 2009, Chairman Raju resigned after publicly announcing his involvement in a massive accounting fraud. Ramalinga Raju is currently in a Hyderabad prison along with his brother and former board member Rama Raju, and the former C.F.O Vadlamani Srinivas.
[edit] See also
- List of companies of India
- List of software companies in India
- List of IT consulting firms
- Fortune India 500
[edit] References
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Wikimedia Commons has media related to: Mahindra Satyam |
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Wikinews has related news: Former Satyam CEO Raju, his brother and CFO arrested and detained in profit-fraud scandal |
- The Official Corporate Website for Satyam Computer Services
- Mahindra Satyam repositioned as an ICT firm
- Are there more Satyam's in making?
- BusinessWeek profile
- The rise and fall of Satyam
- Raju's Statement - Scanned Copy - "Satyam CEO's Letter to its board of directors" - Hyderabad, India, January 7, 2009
- Merger of MSAT and TechM (2011). Merger of IT Companies (Documentary). India: Moneycontrol.com. http://www.moneycontrol.com/video/business/mahsatyam-techmahtoappointbankerstofastenmerger_581330.html?utm_source=Article_Vid&q=.
[edit] External links
- ^ http://www.thenational.ae/thenationalconversation/industry-insights/technology/chief-of-indian-it-giant-has-good-yarn-to-tell
- ^ "Audited Consolidated Financial Results for the Year ended March 31, 2011". Mahindra Satyam. http://www.mahindrasatyam.com/investors/documents/audited-consolidated-financial-results-2011.pdf. Retrieved 2011-11-28.
- ^ The Times Of India. http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-news/mahindra-satyam-posts-10-fold-growth-in-q2-pat-to-rs-238-crore/articleshow/10676808.cms.
- ^ http://profit.ndtv.com/news/show/mahindra-satyam-posts-5-8-q2-profit-growth-revenue-jumps-10-187250
- ^ Fortune India 500 (December 18, 2011). "Fortune India 500 complete list for 2011". Bangalore: MphasiS. http://www.mphasis.com/pdfs/FortuneRanking.pdf.
- ^ moneycontrol.com
- ^ gurgaononcall.com
- ^ http://www.moneycontrol.com/company-facts/satyamcomputerservices/locations/SCS
- ^ "Mahindra Satyam partners with Integr8 for expansion in South Africa". http://www.prlog.org/10529107-mahindra-satyam-partners-with-integr8-for-expansion-in-south-africa.html. Retrieved 18 February 2010.
- ^ moneycontrol.com
- ^ http://www.moneycontrol.com/news/business/mah-satyam-tech-mah-to-appoint-bankers-to-fasten-merger_581330.html
- ^ indiaearnings.moneycontrol.com
- ^ http://profit.ndtv.com/news/show/mahindra-satyam-reports-rs-225-cr-profit-in-q1-168250
- ^ http://www.moneycontrol.com/news/business/mahindra-satyam-q2-net-soars-europe-crisisworry_614931.html
- ^ The Hindu Business Line - ‘Satyam’s independent directors had raised concerns over the deal’ Friday, December 19, 2008
- ^ "Centre refers Satyam deal to ROC". timesofindia.indiatimes.com. 20 December 2008. http://timesofindia.indiatimes.com/Hyderabad/Centre_refers_Satyam_deal_to_ROC/articleshow/3864623.cms.
- ^ The Hindu : Business : Plain-speak by Hamid Ansari on governance - (Sunday, December 21, 2008)
- ^ Bibhu Ranjan Mishra (December 18, 2008). "Satyam clients likely to re-evaluate contracts". Bangalore: Business Standard. http://www.business-standard.com/india/news/satyam-clients-likely-to-re-evaluate-contracts/00/12/343589/.
- ^ [1][dead link]
- ^ "Fourth independent director M. Rao resigns from Satyam". economictimes.indiatims.com. December 29, 2008. http://economictimes.indiatimes.com/Features/Satyam_Maytas_deal_called_off/Fourth_independent_director_resigns_from_Satyam/articleshow/3909517.cms.
[edit] External links
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