“Digital, not legacy firm”

Tech Mahindra expects to touch $1 billion revenue in 5G solutions alone in FY23

Revenue

Rs 457,583 mn

This 36-year-old multi-national company has come a long way after its initial tie-up with British Telecom and the acquisition of Satyam Computer Services. Tech Mahindra has a foot in all the major industries like BFSI, retail and logistics, manufacturing, PSU, government, communications, media and entertainment, healthcare and life sciences, energy and utilities, private equity along with travel, transportation, and hospitality etc.

They provide services in AI, automation, Data Analytics, infrastructure and cloud, network, testing, integrated engineering, cybersecurity, CX, Digital supply chain etc.

Latest Results: Tech Mahindra announced results for its quarter ending September 2022. Their revenue at $1.638b was up 0.3% QoQ and up 11.2% YoY. EBITDA stood at $246m, up 2.9% QoQ, down 9.0% YoY. PAT stood at 159m; up 11.2% QoQ and down 12.3% YoY. Total headcount at 163,912 was up 3.7% QoQ.

CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, announced after the above results: “We continue to focus on being resilient and agile to ensure long-term value for our people, customers, partners, and the society at large. While market conditions evolve and supply-side challenges continue, we will strengthen our differentiated offerings to help customers in their transformation journey through our integrated & new-age solutions.”

While the entire Indian IT Services reeled from Covid, remote work and severe attrition and then the issue of moonlighting came up. Tech Mahindra was one of the first companies that actually said they would come out with a moonlighting policy to look into the issue. Gurnani announced to the media that they could do this because Tech Mahindra was “a digital company and not a legacy firm”.

Another hot topic is the rollout of 5G which finally happened in India in the post-Covid scene in 2022. In this light Tech Mahindra announced that they were on course to touch $1 billion revenue in 5G solutions alone in FY23. Tech Mahindra and Airtel announced that they would co-develop and market 5G use cases in India. Tech Mahindra collaborated with Cisco to drive infrastructure modernization of optical transport networks.

Tech Mahindra launched YANTR.AI, a transformational cognitive AI solution to enhance and simplify field services to further strengthen their BPaaS portfolio.

• Partnered with Google’s Street View in India to leverage output from Tech Mahindra’s ‘Gullyfy’ project and will use its GIS processes from data creation, resourcing, insights generation and collection of street-level imagery.

• Partnered with Union Bank of India to launch the PSU Metaverse Lounge called Uni-Verse.

• Collaborated with Microsoft to provide next-generation integrated security solutions.

• In association with FIDE and AICF, came out with their Fan Nxt.Now App at the 44th Chess Olympiad.

• Partnered with ColorTokens and SSIC to launch Strategic Cyber Insights, powered by X-Analytics, to deliver advanced Zero Trust cybersecurity solutions and risk management services.

• Partnered with Tada Cognitive Solutions to digitally transform supply chain networks for US enterprises to build real-time end-to-end visibility across the network.

• Partnered with Quantre Solutions to provide next-Gen digitally enabled customer communication services in the US and UK.

• Partnered with ARM for their ARM 5G Solutions Lab.

• Signed an MoU with Atal Incubation Centre to drive innovation in molecular biology and genomics space.

• Signed an MoU with Gujarat Government under their IT/ITeS Policy to digitally empower SMBs.

• Partnered with SoftTech to provide customized solutions for end-to-end digital transformation of business in the construction and infrastructure industry.

Awards and Recognitions

• Recognized as the Brand of the Decade in the IT & IT Solutions category by Herald Global in association with ERTC Media.

• Frost & Sullivan’s Technology Innovation Leadership Award 2022 for Metaverse Technology Services.

• Constituent of the FTSE4Good Index Series June 2022.

• Recognized as Best of Asia – Most Admired Brand 2022 at the 10th White Page Leadership Conclave 2022.

• A Leader in Gartner’s Magic Quadrant for IT CSP for the 4th year in a row.

C P Gurnani

CEO, Tech Mahindra

By DQ Bureau

maildqindia@cybermedia.co.in