After the financial restructuring, Mumbai-based Silverline Industries Ltd (SIL)
and US-based Silverline Technologies Inc. (STI) reversed roles. SIL is now the development
company under STI and its revenues reflect the development revenues for the projects that
are billed by STI. Hence, the growth recorded immediately after the financial
reconciliation does not reflect the actual growth in business.
SIL grossed a revenue of Rs 82.91 crore last year with a net profit of Rs 24.16 crore-a
profitability of nearly 30 percent. SIL, additionally, is responsible for business
development in the non-US areas and its primary role is to create development
infrastructure for the entire group.
Today, SIL’s primary strategy is to build some key relationships-to grow exponentially.
Hence develop true value-added partnerships. SIL’s IT consulting and service business
deals with developing and deploying open client/server solutions, offshore maintenance and
support, legacy systems maintenance and reengineering, Y2K services, Oracle Application
implementation, and Internet/intranet services.
Large projects is SIL’s forte. All the Y2K projects undertaken by the company have been
completed and delivered; e.g. it executed a project for First Data, which required a team
size of 350 people. Similarly, the Nynex project required 170 people.
As a backward integration facility, SIL has set up a training facility, Silverline
Institute of Software Technology (SIST), in association with NCST and C-DAC. SIST acts as
a talent pool for the com-pany and handles large manpower requirements required for large
To provide a clear focus on client deliverables and quality, the company has formed a
special team called SDQT (system delivery, quality, and technology). The team essentially
looks beyond internal quality and extends into the area of customer satisfaction. SIL is
one of the first software companies in India to receive the ISO 9001 certification. It was
audited by KPMG Peat Marwick for development, production, and maintenance of software
products, specifically relational databases and client server tools, GUI interfaces, and
development environment tools.
The company’s expansion plans, to be completed in mid-1999, involve quadrupling of its
development capacity. It has acquired 2,30,000 sq. ft additional premises in Chennai and
Thane, which will be financed by the Rs 30-crore cash balance from last year’s operations.
SIL plans to cross Rs 100 crore in the current fiscal year.