Rank 38: SSI: Down with the Downturn

Chennai-based SSI clocked a turnover of Rs 328 crore, a fall of 23% in

revenues, coming on the back of last year’s spectacular growth rate of 168%.

The culprit that impacted the company’s balance sheet was the downtrend in the

IT education industry. As a result, new enrolments for various courses took a

beating. On the domestic front, the company made Rs 184 crore, while software

exports fetched Rs 144 crore. Software revenues were mainly from consulting and

services.

Performance Highlights Revenues declined by 23%   US subsidiary SSI North America won $20-million contract to build the Wyoming Family Assistance Management Information System (FAMIS) Startup: 1991 l Dealers: 598 l Employees: 1,265 l Branches: 287 l Address: Mena Kampala Arcade, 113, Thyagaraya Road, T Nagar, Chennai 600017 l Tel: 8153260/1 l Fax: 8151979 l Website: ssiworldwide.com

The company offered a broad spectrum of services in areas like finance,

government and enterprise applications, and through IndigoMarkets, a joint

venture with Nasdaq Global Holdings, it developed securities solutions for

leading financial services firms. SSI is ranked among India’s leading IT

training providers and the leader in high-end software training. It offers

instructor-led and self-paced training programs for individual students, and

develops customized training programs for government as well as institutional

and corporate customers.