Rank 23: Pentasoft Technologies: Scouring new Horizons

Pentasoft went through some hard times in fiscal 2001-02. For the

year-ended March 2002, the turnover of the company stood at Rs 553.41 crore, a

dip of 5% against the previous year’s Rs 583.49 crore. While the company had

identified three broad revenues streams–enterprise, engineering, and education–orders

predominantly came for enterprise solutions, which accounted for 66.8%. The

engineering and education division clocked 19.4% and 13.8% of overall revenues,

respectively.

Performance Highlights Revenues declined by 5%   Retrenched 45% of its workforce   Renewed contract with UK’s Visteon Startup: 1995 l Employees: 1900 l Branches: 24 l Address: TAURUS, No. 25, I Main Road, United India Colony, Chennai—600024 l Tel: 4833067 l Fax: 4722519 l Website: www.pentasoftech.com

On the enterprise front, the company’s contract with the US-based

WhereHouse Inc, a multi-billion-dollar retailer, was renewed. The engineering

division successfully completed the ‘Finite Element Analysis’ project for

UK-based Visteon.

Meanwhile, the education division provided mainframe training for Hexaware

and Wipro Technologies on the AS/400 platform. The company also came into sharp

focus when it sacked 1,550 employees (out of the then total of 3,450)–a 45%

cut leading to the current employee strength of 1,900. While the company

defended these job cuts as a "business realignment measure", its image

in the industry took a severe beating.