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.