Rank - 72 : KPIT Cummins Infosystems

After recording significant growth for a number of years, KPIT finally hit
the roadblock with a disastrous Q1. Despite marginal growth in the next three
quarters, the overall decline was unavoidable. The management attributed it to a
change of mix from onsite to offshore (from 55% to 60%) as well as a significant
reduction in Cummins revenue. The acquisition of Sparta Consulting, a SAP
implementor for $38 mn, heralded KPITs entry into energy and utilities. India
business grew by 50%other emerging markets like China, Korea, South Africa and
Australia were key growth drivers.