Rank 22: CMC: New in the Tata fold

It was one of the most eventful years for the erstwhile public sector

IT company. Interestingly, while it’s revenue growth rate continued to be slow

for the third consecutive year–from 35% in 1999-00 to 18% in 2000-01 to 0.25%

in fiscal 2001-02–CMC’s PAT grew by 34%. The company closed its books with

net profits of Rs 33.64 crore, compared to Rs 25.09 crore in 2000-01. This was

thanks to the company’s initiatives in enhancing operational efficiencies,

better value addition and improved utilization of resources.

Performance Highlights Bagged India Census 2001 Project Implemented general insurance systems application software Major orders from banks, DVB, NIC, and HAL Start-up: 1976 l Products & Services: Systems integration, SW development, embedded systems, network integration, third-party maintenance, facility management, and IT training l Employees: 3,153 l Branches: 7 l Address: 1 Ring Road, Kilokri, New Delhi 110014 l Tel: 6340087 l Website: cmcltd.com

While CMC could not survive the bloodbath in the IT education and training

sector, and saw a downturn in its revenues from this business, the impact was

neutralized to an extent by a few major orders that it bagged. Also, the

disinvestment of the government stake in the company–with the Tatas picking up

a 51% stake–also helped. This also meant a change in management–while TCS

chief S Ramadorai has been nominated as chairman of CMC, SS Ghosh will be the

managing director. Ghosh has also been inducted as a Tata Sons nominee on the

board, whereas TCS’ R Ramanan has been inducted into the CMC board.