DataQuest 31 July

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VOL XXXIII No 14 I JULY 31, 2015
THE BUSINESS OF INFOTECH
Rank Company
Revenue
TCS
94,648
Cognizant Technology
Solutions
65,779
Infosys Technologies
53,319
Wipro
47,318
Hewlett-Packard India
37,985
HCL Technologies
35,709
Tech Mahindra
22,621
IBM India
20,442
Ingram Micro India
15,823
10
Redington India
14,610
11
Dell India
13,984
12
Oracle India
12,440
13
SAP India
9,896
14
Cisco Systems India
9,740
15
Microsoft India
8,624
16
IGATE
7,879
17
APC by Schneider
Electric India
6,848
18
Capgemini India
6,305
19
Intel India
6,292
20
HCL Infosystems
6,270
Source: DQ estimates (Revenue in `crore) for FY15
Gearing Up for
the New Normal
FY15 proved to be a defining year as old school plain vanilla services
were just not enough for the new normal economy
134 pages including cover
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VOL XXXIII No 14 I JULY 31, 2015
THE BUSINESS OF INFOTECH
EXACTLY LIKE BEFORE.

BUT SOME THINGS
LIKE NEVER BEFORE.
15 years of heritage embraces a new identity.
The renowned System x
servers featuring Intel
Xeon processors, that have
empowered businesses
worldwide with a robust
IT infrastructure, are now
a part of Lenovo.
Its not just change.

Its evolution.
134 pages including cover
JULY 31, 2015
16
OVERVIEW
Gearing Up for
the New Normal
As we reflect upon FY15, probably it was the beginning
of the end of growth, as we know...
July 31, 2015
www.dqindia.com
A CyberMedia Publication
CONTENTS
Rankings 100
The DQ 20 .................................24-65
The Next 30 ............................. 68-102
The Next 50 ........................... 104-131
Regular
Edit ........................................................................................................08
DQ team ................................................................................................10
Last Matter..........................................................................................132
www.dqindia.com
July 31, 2015
EDIT
Shrikanth G
shrikanthg@cybermedia.co.in
Growth Pangs
he year went by was a mixed bag. Growth was muted and challenges
aplenty. As we took on to the task of DQ Top 20 this year, as usual,
it was a tightrope walking. And so we need to do the balancing act
when sizing up the companies numbers and our estimates.
A cursory glance at the events that shaped the year revealed three
major pointers. One, most of the companies struggled to sustain the
scale they have built over the years. With the contraction of volume of
business and sequential growth, adding incremental revenues was not easy. Two,
the overall sluggish economy has upset the IT spending cart and what that meant
was delayed decision making and that did upset the overall growth. Finally, last
year layoffs hit the shores of India, and for the first time one saw agitated laid off
employees taking onto streets and even launching a union to fight for their rights.
Coming to the DQ 100 listings, as we reflect on the performance of the Top 20,
which we call the Top 20 club has always hogged the limelight. These are the
Ivy League of companies that in a way epitomize Indian ITs prowess. In this pack,
the Top 5 ranking has remained unchanged. In the rest 15 also there were not too
many upsets, but here and there we did see some players going down and some
climbing up but many had retained their last years position. Growth yet again
remained a major issue.
Meanwhile, the IT distribution companies like Redington and Ingram increasingly
de-risked their business by upping their ante in consumer electronics and mobility
business and focused more on high yield enterprise business mandates.
But as we look at the macro forces, probably the biggest one was the massive
expectation on the government, which has promised to significantly escalate the
penetration of IT in this part of the worldwhether it is eGovernance or smart
cities or bridging the digital divide.
While FY15 was more about grappling for the times ahead, one also saw the
beginning of the impact of disruptive technologies driven by a nexus of technology
forces that are changing the very taxonomy of computing. Old school outsourcing
models are losing sheen by the day and are on the threshold of obsolescence.
Clearly, FY16 is going to be about modernization of enterprise computing with
the infusion of emerging tech and how to mesh new with the old and create
an ecosystem that fosters growth, ups employee productivity, and secures more
profitability.
Its easier said than done, but thats the only way forward and those who will win
in the ongoing fiscal will be the ones who are able to innovate to the new normal.
Shrikanth G
Associate Editor
July 31, 2015
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dq Top 100 Rankings
Rank
Rank
2014-15
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
12
Company
TCS
Cognizant Technology Solutions
Wipro
HCL Technologies
Tech Mahindra
IBM India
Ingram Micro India
Redington India
Dell India
Oracle India
SAP India
Cisco Systems India
Microsoft India
IGATE
APC by Schneider Electric India
Capgemini India
Intel India
HCL Infosystems
Lenovo India
Savex Computers
Mphasis
Syntel
L&T Infotech
Samsung India
Acer India
Rolta India
Mindtree
Genpact
KPIT Technologies
Rashi Peripherals
CSC India
Vakrangee
Cyient
Hexaware Technologies
Tata Technologies
Zensar Technologies
Iris Computers
Apple India
CMC
EMC India
NIIT Technologies
Asus India
Compuage Infocom
Texas Instruments India
Canon India
Lycos Internet
Supertron Electronics
Polaris Consulting & Services
July 31, 2015
www.dqindia.com
2014-15
Revenues (Rs Cr)
94,648
65,779
53,319
47,318
37,985
35,709
22,621
20,442
15,823
14,610
13,984
12,440
9,896
9,740
8,624
7,879
6,848
6,305
6,292
6,270
6,020
5,905
5,806
5,586
5,480
3,995
3,692
3,679
3,547
3,320
2,990
2,984
2,961
2,775
2,736
2,706
2,644
2,628
2,573
2,560
2,513
2,452
2,373
2,234
2,129
2,110
2,026
1,957
1,948
1,894
Growth%
16
18
6
8
4
14
20
9
12
7
30
9
4
9
19
17
12
15
-2
-24
5
4
-3
7
13
1
2
18
17
6
11
36
3
41
24
14
10
13
36
40
13
15
3
25
-7
9
6
17
24
NA
2013-14
Revenues (Rs Cr)
81,809
55,894
50,133
43,763
36,697
31,200
18,831
18,754
14,128
13,657
10,757
11,437
9,520
8,902
7,224
6,734
6,114
5,483
6,412
8,218
5,740
5,678
5,986
5,210
4,850
3,950
3,602
3,114
3,032
3,138
2,694
2,197
2,875
1,965
2,206
2,367
2,395
2,316
1,893
1,823
2,231
2,126
2,305
1,787
2,275
1,936
1,910
1,673
1,575
NA
Rank
2014-15
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
Company
Persistent Systems
Infinite Computer Solutions
Sonata Software
Ricoh India
Neoteric Infomatique
Symantec India
ITC Infotech India
NetApp India
SFO Technologies
3i Infotech
Sify Technologies
Seagate India
CSS Corp
Zicom Electronic Security Systems
Geometric
Epson India
Mastek
Xerox India
Birlasoft
NIIT Limited
eClerx
OnMobile Global
AGC Networks
Tata Elxsi
Intex Technologies
TAKE Solutions
Adobe Systems India
Aurionpro
Juniper Networks India
Cybage Software
R Systems International
VMware
CORE Education & Technologies
D-Link
Fujitsu India
AMD India
Intellect Design Arena
Fortune Marketing
Trigyn Technologies
Accel Frontline
LG India
Team Computers
CA Technologies India
RS Software
Sasken Communication Technology
Zylog Systems
Subex
Nucleus Software
Huawei India
SQS India BFSI
|
2014-15
Revenues (Rs Cr)
1,882
1,737
1,682
1,637
1,605
1,534
1,458
1,438
1,370
1,344
1,286
1,210
1,198
1,108
1,106
1,078
1,030
1,010
995
957
942
917
888
853
835
799
796
737
679
670
663
650
628
626
625
610
605
560
493
486
470
452
450
439
428
411
361
353
224
216
www.dqindia.com
Growth%
12
0.30
7
56
7
8
14
12
14
3
23
4
11
20
1
23
13
2
6
1
12
6
14
10
15
-2
15
14
-4
15
6
NA
-51
29
19
16
14
10
9
15
23
47
-18
15
-7
-75
5
2
32
10
2013-14
Revenues (Rs Cr)
1,669
1,733
1,566
1,048
1,500
1,420
1,277
1,284
1,200
1,308
1,046
1,163
1,080
926
1,095
880
910
989
939
951
841
865
776
775
726
815
690
649
709
582
627
NA
1,272
487
525
526
533
508
452
421
381
307
550
382
458
1,668
344
346
170
197
July 31, 2015
13
OVERVIEW
Shrikanth G
shrikanthg@cybermedia.co.in
Gearing Up for
the New Normal
As we reflect upon FY15, probably it was the
beginning of the end of growth, as we know
it. In a defining year in which old school plain
vanilla services is just not enough for the new
normal economy
16
July 31, 2015
www.dqindia.com
OVERVIEW
Not only has the basis of computing changed, the basis of competition has changed too
Andrew S Grove, Former CEO, Intel writes in Only the Paranoid Survive
T
Looking back,
the year
began on
an optimistic
note, but
the macroeconomic
environment
deteriorated
thereafter
N CHANDRASEKARAN
CEO and MD, TCS
18
July 31, 2015
he computing industrywhether hardware

or softwareis on the
cusp of things. Many
companies are struggling to make up for
the lost growth and
revenues as the industry by and large
was caught in a disruptive nexus of
forces that manifested in an alphabet
soup of abbreviationsranging from
IoT to SDN et al. Lets go the core
question: What ails the growth? The
answer is not that simple and each
company was caught in the sluggish
economy trying to retain and sustain
its revenues, if not grow impressively.
Lets ask R Chandrasekaran,
Executive Vice Chairman, Cognizant India on the state of affairs.
He quips, We are in the midst of a
once-in-a-decade shift in the technology landscape. More than ever,
clients are grappling with the dual
mandate to drive not just better efficiencies, but also greater innovation for the needs of tomorrow. In
doing so, clients are reconsidering
how they manage their traditional
investments in technology and
business processes.
With secular shifts in the economy, business and technology,
enterprises are re-examining how
they operate, moving from merely
incremental levels of performance
efficiency to building new digital
business capabilities. The only way
for businesses to adapt in this new
era is to simultaneously improve efficiency and scale with existing systems, while driving business innova-
www.dqindia.com
tion through newer technologies,

adds Chandrasekaran.
In a way Chandrasekarans observation puts the year gone by in
context and puts the road ahead in
perspective.
THE FISCAL THAT WAS
As we look at the fiscal that went

by, Q4, FY15 in many ways defined the year. But most of the
major players failed to secure any
major growth in Q4 and as a result
they signed out of overall FY15 on
a rather subdued note. But it was
not just about top line growth, its
more about profitability, operating
margins, employee utilization, and
redeploying the bench forceand
these and a whole lot of other parameters did go through a transition
leading to what we call a new normal scenario and signals the end of
traditional outsourcing.
The CEOs in most cases accepted
this blunt reality. For instance, when
Vishal Sikka, CEO & MD of Infosys
announced the companys Q4, FY15
results, clearly his tone drove home
the point that it was not business
as usual. Reflecting on the numbers
he said, We see the industry going
through a fundamental and structural
transition.
But what is this transition everyone
is talking about? At the fundamental
level, the outsourcing industry has
worked on the cost and labor arbitrage model. The scale and wage
hikes of offshore employees raises
the key question for how long outsourcers can arrive at cost savings
PRODUCT OF THE YEAR

2015
OVERVIEW
We are in
the midst of
a once-in-adecade shift in
the technology
landscape.
Clients are
grappling with
the mandate
to drive better
efficiencies
and greater
innovation
R CHANDRASEKARAN
Executive Vice Chairman, Cognizant
20
July 31, 2015
we are seeing. So, in a way, India in

IT is slowly losing its sheen as a low
cost geography. And outsourcers are
increasingly demanding more value
and innovation.
As we all know, in the last few years
one of the most debatable things
thats growing in importance is RoI.
The CIOs all these years have been
oscillating between the tangible and
intangible return on money spent on
IT. But increasingly, in the last oneyear or two, what is happening is the
emergence of a triumvirate in terms of
IT decision makingthe CIO-CEO-
CFOand the degree of influence

each have on a major IT deployment.
Clearly, the job of the CIO over the
last few years became more challenging and complicated and one
saw the growing escalation that any
IT decision made is more of a stakeholder decision rather than a decision
made purely from a technological
point of view. The emphasis is more
on how the technology can impact
the entire business domain, and yet
again the age old debate of aligning
IT with business only got rekindled
and got more granular over the year.
Guiding Principles for DQ Top 20

n The company revenues have been taken for the period April 1, 2014 to March 31,
2015. Though different companies have different financial years, we have taken AprilMarch revenue for each company to maintain uniformity.
n Revenues of IT services companies include their BPO revenues as well. Even in
graphs showing overall revenue share across geographies or verticals, we have included
the BPO revenues.
n For companies headquartered in India or for companies that had their first delivery
center in India, even if they are headquartered outside India, we have taken the entire
IT revenue; for companies that do business in India, we have taken the entire India IT
revenue; for other non-Indian companies which export out of India, we have taken only
the revenue generated by the Indian legal entity. That holds true for captive units as well.
n For companies that have filled our form in Indian rupees or those listed in India, we
have taken their rupee revenue figures irrespective of the currency exchange rate they
have used. For others, we have converted to Indian rupees.
n In case of companies that have not provided us with revenues, we have done our
own estimates. For domestic business, we have used sources like distributors, channel
partners, SIs, customers, and competitors to get unit shipments and average selling
value to estimate the revenue. For export services, we have based it on the average
headcount and average salary, taking into account factors such as the type of work and
type of services.
n In case of non-Indian companies that have their development/delivery centers, we
have added their India sales revenue to the export revenue and have presented the total
figure.
n While many companies responded to the questionnaire sent out by us, many others
shared information informally over one-on-one interactions. However, there were a few
companies that refused to share any information with us; in such cases, information has
been gathered and revenues estimated from secondary sources.
www.dqindia.com
While on one hand, the decisionmaking scenario is changing by the

day, and on the other if we look at
the technology side of things, FY15
was also the year in which software
became the epicenter of things. The
Software Defined Anything (SDX) is
clearly graduating from hype to reality and is an inevitability. Meanwhile,
as we look at the IT consumption patternsthe trends point to the movement towards application economy in
which concepts like DevOps will rule.
THE DQ TOP 5
As we look at the top 5 companies

in the DQ 100, the top 5 ranks this
time have remained unchanged. But
the biggest upset is the growth. TCS

slid to 16% as compared to previous years 31%. And similarly, Cognizants growth also went south to
18% as compared to 34% in FY14.
And Infosys took the major hit with its
growth going down to 6% as compared to impressive 30% in FY14.
Wipro and HP chipped in with just
about 8% and 4% respectively.
In a way barring TCS and Cognizant,
the rest of the three in the pack have
had a tough time growing up their revenues in FY15. But even beyond Top 5,
we are seeing the companies struggle
to add up incremental revenues YoY
and being marred by a weak sequential growth is clearly not a good thing.
www.dqindia.com
Even for a company like TCS,

which has always stayed in the pink
of things, FY15 was not an easy one.
For instance, N Chandrasekaran,
CEO, TCS said in his FY15 earnings
call: Looking back, the year began
on an optimistic note, but the macroeconomic environment deteriorated
thereafter. In that kind of a muddled
scenario, we stayed the course,
continuing to make the investments
that we believe are needed to build a
strong platform for longer-term sustainable growth.
Long-term sustainable growth
thats what all the companies did and
are doing to tide over the challenges
up ahead.
July 31, 2015
21
OVERVIEW
With smart
cities
development in
India becoming
a priority, it is
vital for the
government to
strike a balance
between
resource
allocation and
investment
NEELAM DHAWAN
Country MD, HP India
22
July 31, 2015
Looking at the vertical play of the

companies, here too, we are seeing
the upsets. For instance, if we look
at Wipro, TK Kurien, its CEO and ED
said in the FY15 call, On an overall basis, the demand environment
remains stable. However, we see
uncertainty in two industry sectors.
From a portfolio mix perspective,
we have led the energy sector and a
sharp cut back in capex in that particular sector impacted us this year
close to about $100 mn of revenue
compared to FY14.
So repeat business and new client additions and growing in sweet
spot verticals is also becoming a
major issue. So to offset the vertical
upsets, companies need to diversify within and also deepen their play
in other emerging verticals so that
they will be able to arrive at revenues parity across a whole range of
verticals and not just dominating a
few ones.
Meanwhile, as we look at other
companies like HP India, it altogether operates in different dynamics. It
competes as well as complements
other IT services companies.
Neelam Dhawan, VP & GM, Enterprise Group and Country Managing
Director, HP India told Dataquest:
HP in India has been successful in
FY15 across portfolios. Together the
whole HP Enterprise Group is greater than the sum of its parts, with a
portfolio comprised of industryleading servers, storage, networking, converged systems and technology services, along with cloud
solutions.
Adds Rajiv Srivastava, VP & GM,
PPS, HP India, We have achieved
comprehensive leadership in both
PCs and print in FY15. We have
been leaders in the consumer as
www.dqindia.com
We see the
industry going
through a
fundamental
and structural
transition
VISHAL SIKKA
CEO & MD, Infosys
well as enterprise segment with the

innovative products we introduced
in FY15.
OUTLOOK 2016
While FY15 was challenging on many

fronts, many analysts believe that FY16
would be a make or break year. While
many had given a weak Q1 FY16 outlook, the subsequent three quarters
post Q1 will define many things.
The DQ 20
RANK
COMPANY
PAGE NO.
RANK
COMPANY
PAGE NO.
Tata Consultancy Services
24
11
Dell India
46
26
12
Oracle India
48
28
13
SAP India
50
Wipro
30
14
Cisco Systems India
52
32
15
Microsoft India
54
HCL Technologies
34
16
IGATE
56
Tech Mahindra
38
17
58
IBM India
40
18
Capgemini India
60
Ingram Micro India
42
19
Intel India
62
10
Redington India
44
20
HCL Infosystems
64
www.dqindia.com
July 31,2015
23
the dq 20
Rank
Rank
0 0 1
Tata Consultancy Services

In the
backdrop of
a challenging
business
environment,
TCS focused
on staying
relevant and
looked at
leveraging
newer
technologies
offering
bigger growth
and larger
mandates
2013-14
0 0 1
24
July 31, 2015
N CHANDRASEKARAN
CEO & MD
he year went by for

TCS can be summed
up in two words: Not
Bad. Cross currency
fluctuations did upset
the cart. As we look
www.dqindia.com
at the defining Q4 FY15, it did manage to grow its Q4 revenues by 12%

YoY but had a muted performance in
sequential termsjust about 1.1%.
Thats where the challenges come in
and in a way define the tough busiA CyberMedia Publication
ness environment and how difficult

it is to scale revenues sequentially in
FY15.
While the market did not react
positively to the companys numbers, there were many positives in
TCS performance over FY15. First
of all, it was able to add $2 bn in incremental reveneus in FY15 and this
when stacked up with rivals was far
ahead. For instance, HCL Technologies chipped in $642 mn in incremental revenues for FY15, while Wipro
and Infosys garnered just about $462
mn. This benchmark clearly puts TCS
ahead of the WITCH (Wipro, Infosys,
TCS, Cognizant, and HCL Tech) pack.
As we look at other major financial highlights for TCS over the last
year, FY15 marks the 10th year since
its IPO and during this time it saw its
marketcap growing up by 10 times
from $8.8 bn to $80 bn. Interestingly, the board has also approved a
broad-based employee cash reward
program entailing a total payout of
`2,628 crore.
As we look at delivery efficiencies and competencies over the
year, TCS made significant progress
on its cloud platforms, which comprise of its assessment engine, its
financial inclusion platform and five
horizontal platforms such as HR, financial accounting, accounts payable, procurement, and analytics.
The companys CEO averred in the
FY15 earnings call that these seven
platforms together have made significant progress and crossed an annual
run-rate of $100 mn. These platforms
generated a revenue of $125 mn in
FY15 at a growth rate of 55% YoY.
In a significant announcement at
the end of FY15, TCS said that it is
ready with the formal launch of its
artificial intelligence-based IT and
business operation automation plat|
As we look at
FY15, telecom
and energy
verticals turned
out to be a
dampener, with
Q4 telecom
revenues
declining by
6.2% and energy
declining by
4.7% on a QoQ
basis
2014-15
94,648
2013-14
81,809
16%
Source: DQ estimates revenue (`crore)
form. The company terms this as an

entirely new category of Service-asa-Software.
Meanwhile, as we look at TCS vertical play in constant currency terms
during FY15, of the six verticals it has
footprints in, the BFSI vertical pitched
in with 10.8% growth, but its mostly
financial services that grew well and
the insurance side did not see mawww.dqindia.com
jor uptick and hovered in single-digit

growth rates. Insurance performance was pulled down by degrowth
in the Diligenta business. Meanwhile,
the company said that the telecom
reflected sectorial weakness and
the resultant volatility showing up in
one geography or the other at varying points. For instance, if we look
at Q4 FY15, telecom declined 6.2%
and energy declined by 4.7% on a
QoQ basis. This in a way explains the
weak sequential growth the company
had in Q4 of the fiscal.
Geography-wise, continental Europe continued to grow well over
25% in constant currency terms.
When we look at the scheme of
things from a service perspective,
the growth was led by infrastructure
followed by assurance, enterprise
solutions, consulting, and business
process services. Cloud platforms
have done extremely well, in addition,
digital services continued to be on a
strong growth trajectory with a good
order book.
The companys total headcount
stands at 319,656 employeesfrom
a gender diversity point of view, the
number of female employees at TCS
crossed the 1 lakh mark, making it
the countrys biggest employer of
women in the private sector.
Looking ahead, TCS believes that
in FY16, BFSI along with manufacturing, hi-tech, life sciences, healthcare,
travel, hospitality, and media and entertainment will do well and telecom
and energy verticals will have a subdued play.
But from an employee engagement
and appraisal perspective, TCS need
to up its ante in FY16 as last year one
saw laid off TCS workers took to the
streets, called their termination unfair,
and stated their appraisals were done
in an unfair manner.
July 31, 2015
25
the dq 20
Rank
0 0 2

While growth
slowed down,
Cognizant
effectively
synergized its
competencies
and delivery
capabilities
with strategic
inorganic
forays
FRANCISCO DSOUZA
CEO
2013-14
0 0 2
26
July 31, 2015
ooking at Cognizants
performance in FY15,
if we were to pick
threads, the key ones
that stand out relate
to the significant slide
www.dqindia.com
in its growth which came down

to 18% from the last years massive 34%. The slowing down of the
growth is the reflection of the wider
trends and the overall sluggish demand scenario. Notwithstanding,
an 18% growth in itself is indeed

impressive.
Lets look at how verticals panned
out for the company in FY15. In Q4
FY15, its BFSI revenues grew 3.6%
sequentially and 13.4% YoY, driven
primarily by continued strong growth
in its insurance practice. What drove
Cognizants revenues in the BFSI
space related to client engagements
on cost optimization and vendor consolidation, regulatory compliance,
and cybersecurity. In addition, Cognizant saw an increased focus on
newer technologies in digital and automation, particularly in areas to improve customer experience and drive
digital customer self-service.
During the same quarter, its healthcare segment, which consists primarily of its payer, pharmaceutical,
biotech, and medical device clients,
grew 13.8% sequentially and 42.7%
YoY. However, its payer clients continued to take a cautious approach
to spending. Cost optimization is still
a key driver, while clients are also
looking to leverage analytics to drive
profitability and improve customer
retention. The company says that the
payer sector is undergoing fundamental changes, driven by a changing regulatory environment, increasing focus on medical costs, and the
consumerization of healthcare. The
company believes these changes
create longer-term opportunities.
Q4 also assumed significance for
Cognizant as it further synergized
its TriZetto acquisition and went to
market with combined offerings. To
further leverage this asset, Cognizant moved aggressively to increase
staffing. It added 500 consultants,
who are either already deployedor
trained and ready to deployto assist in driving revenue synergies. In
addition, the company added 300
|
With a multipronged client

engagement
model and with a
blended strategy
of traditional
VS new service
delivery,
Cognizant
managed yet
another good
year
2014-15
65,779
2013-14
55,894
18%
people in its global delivery centers

to accelerate product development
on TriZetto platforms. The company
says that this action is already paying off. In the Q4 alone, Cognizant
was selected for synergy deals with
a total contract value of $200 mn,
with a number of additional deals in
its pipeline.
Meanwhile, in the pharmaceutical
www.dqindia.com
business, it continued to see a trend

towards multi-service deals across infrastructure and IT services, leveraging cloud technologies and platforms.
Additionally, the company is seeing
a steady demand driven by vendor
consolidation and cost optimization
across many existing and new clients.
The company saw good traction from
its acquisition of Cadient, where it
added nine new logos since closing
the acquisition late last year.
Looking at other verticals, Cognizant in its retail and manufacturing segment secured a growth of
2.7% sequentially and 7.2% YoY in
Q4 FY15. Here it saw good demand
particularly in the areas of modernizing supply chains as well as digital
and eCommerce engagements. For
a large retailer in Southeast Asia,
Cognizant is in the process of implementing a digital eCommerce
platform to deliver a seamless omni-channel shopping experience for
their customers.
As we look at the year went by,
Cognizant says that it was able to
balance out its traditional service offerings more broadly and at the same
time driving demand for integrated,
multi-service dealssolutions that
typically include a combination of
consulting, IT services, BPS, and
infrastructure services, while also
exploring new frontiers of cost and
operating efficiency through new asa-service utility or platform-based
models. This helped the company
create variable cost structures, enhance efficiency, and drive agility and
time-to-market.
This trend, the company says, is
creating significant opportunities for
services firms such as Cognizant that
have the right portfolio and hence
are able to create a multi-tower engagement model.
July 31, 2015
27
the dq 20
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0 0 3
Infosys
performance
in FY15 was
reflective of
the overall
grim mood
of the Indian
IT services
industry that
was plagued
by currency
fluctuations
and pricing
pressures
VISHAL SIKKA
CEO
2013-14
0 0 3
28
July 31, 2015
nfosys, the IT behemoth, over

the year aimed to get industry
leading growth rates back but
failed to do much, especially
due to a disappointing fourth
quarter. Performance fell below
www.dqindia.com
expectations as the company posted a modest 6% hike in revenues

in FY15 as compared to the previous fiscal. It attributed the fall to increasing pricing pressures and grim
services growth in the last quarter.
The decline was visible across geographies as both Americas and India
market got hit in Q4.
Across verticals, banking, financial
services, and insurance still held the
lions share in revenues contributing
33.6% in FY15. This was followed
by manufacturing that accounted for
about 24%. Amid geographies, the
US and Canada held about 63% of
the total revenues.
On the whole, it was a milestone
year for the company as it went
through
some
transformational
changes. It bid farewell to three of
its founders, Narayana Murthy, S
Gopalakrishnan, and SD Shibulal.
The company got its first nonfounder CEO, as Vishal Sikka took
over the reins in August.
Since his arrival, Infosys has been
witnessing some key structural changes aimed to instill fresh life into the IT
company that has been struggling on
many fronts over the last few years.
In line with the renew and new
strategy, the company has been
making moves in many directions
which industry experts suggest will
deliver fruits in the future. The IT
services provider has upped its focus
on automation, Artificial Intelligence
(AI) and cloud-based IT services and
has been actively investing on these
fronts.
The company made a slew of acquisitions over the last few months.
Its big ticket acquisition of Panaya,
an automation company, has been
a significant step in line with its new
strategy. Industry analysts suggest
that Panaya will help enhance Infosys
strength in automation and artificial
intelligence and will also expand its
presence in Israel.
The IT services major also recently
announced the acquisition of Kallidus, a San Francisco-based dig|
The target of
$20 bn by 2020
will be a longterm project
and at this
point is more of
an aspiration,
yet industry
experts are
CONfiDENt tHAt
the leadership
is making the
right moves
2014-15
53,319
2013-14
50,133
6%
ital and mobile commerce solutions

company for a sum of about `760
crore. Additionally, it has acquired a
minority stake in air quality monitoring start-up, Airviz.
During the year, Infosys managed
to strike some big deals. In total, it
added 221 new clients in FY15. The
most prominent one was the multi-million dollar IT services deal it
www.dqindia.com
signed with ABN AMRO. As a part of

the deal, Infosys will provide services
across application development and
maintenance, testing, and product
implementation. Another significant
win was the 11-year deal with Western Union Financial Services where
the IT services company will take
complete ownership to modernize,
maintain, and support its worldwide
settlement systems.
The year also saw the company
driving a slew of employee-related
initiatives. It established a design
thinking training course for new joiners at the Infosys Global Education
Center in Mysore. More than 22,000
trainees are expected to undergo this
training in FY16.
It has also established a SWAT team
to simplify processes, empower its
employees, and eliminate bureaucracy. The company believes that these
employee engagement initiatives have
helped in bringing down attrition significantly with employee exits coming
down from 1,768 in January, 2015 to
1,352 in March, 2015.
Infosys also won the 2014 Asia Pacific HRM Congress award for diversity and HR.
The company has given a revenue
guidance between 10-12% for FY16
in constant currency terms. Going
ahead, Infosys is optimistic that the
investments into new areas and renewed focus on traditional IT services will pay off and it will be able to
achieve industry leading growth rate
by FY17. To attain that the IT services company will be pursuing fresh
opportunities around automation and
will continue to invest in big data analytics, and emerging mobile and digital technologies.
The aspirational target of $20 bn
by 2020 looks like a distant dream
as of now.
July 31, 2015
29
the dq 20
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0 0 4
Wipro
With its oil
and gas
sector
performance
suffering
a bit in
FY15, Wipro
managed
to drive a
positive top
line growth,
but continued
to lag behind
the industry
average
2013-14
0 0 4
30
July 31, 2015
TK KURIEN
CEO
s the IT services industry went through

yet another difficult
year, Wipro continued with its struggle
to get its perform-
www.dqindia.com
ance back on track. Overall, it was

a mixed performance from Wipro as
the company inched forward with
a humble 8% growth in FY15 over
the last fiscal. The IT services segment, which forms the lions share of
its business, saw a 10% increase in

revenues in FY15, while this was partially offset by a 12% decline in its IT
products business. Wipro has been
consistently reducing the proportion
of IT products business, which now
holds only about 7% of the total revenues.
During the year, the company continued to face challenges in certain
business areas, especially in the oil
and gas segment, that dragged down
growth below analyst expectations
and the industry average. Wipro has
higher exposure in this vertical as
compared to its closest peers like TCS
and HCL. The fall in the global energy
prices hence impacted the companys
performance in the fourth quarter.
Verticals like manufacturing and
healthcare performed relatively better
during the year. The companys infrastructure services segment showed
good momentum.
Some large deal wins brought in
good news for Wipro in FY15. The IT
services major added 194 new clients
in the IT services segment. The major highlight was the billion dollar outsourcing deal it struck with ATCO, the
Canadian utilities and logistics company, which was also the biggest deal
in its history. In the process, it also
acquired the IT services business of
the company. Global IT research companies like Nelson Hall believe that
the deal will help revive its energy and
utilities business to a large extent. It is
also expected to expand its presence
in the Canadian market.
Other prominent deals included the
one with power and automation technologies major ABB, and a five-year
deal with Levi Strauss.
The company also acquired minority stake in Drivestream, a US-based
Oracle cloud applications systems
integrator.
|
The formation
of new
business unit,
Wipro Digital
REflECTS ON THE
COMPANYS
GROWING FOCUS
around new
TECHNOLOGIES
AND WILL BE A KEY
to expanding
market share in
the future
2014-15
47,318
2013-14
43,763
8%

*Revenue is aggregate revenue for the purpose of segment reporting including the impact
of exchange rate fluctuations
In line with the changing demands

of next-generation IT services, Wipro
has been pumping in funds in intellectual property to develop automated IT solutions, self-healing tools
and artificial intelligence engines that
can be deployed for customers. It
invested in ServiceNXT, a next generation integrated managed services
www.dqindia.com
framework that is aimed to improve

productivity in infrastructure management and application management contracts.
Towards the end of the fourth quarter, the company appointed Abid Ali
Neemuchwala as the Group President
and Chief Operating Officer. Abid will
be heading the service lines of Global
Infrastructure Services, Business Application Services, Business Process
Services, and Advanced Technology
Solutions.
In an interesting turn of events,
Rishad Premji, the elder son of Wipro
promoter Azim Premji, was appointed
to the companys board of directors.
Wipro like its close rival Infosys
has been taking up restructuring
initiatives to revive its business. To
capture the growing opportunities in
the digital space and to strengthen
its focus around it, the company has
carved out a separate unit called
Wipro Digital. The new unit will be
mainly focused on banking, manufacturing, healthcare, and CPG (Consumer Packaged Goods).
Wipro will be aiming investments
in new technology areas like automation and Artificial Intelligence (AI), to
keep pace amid intensifying competition in the IT services space. Digital will continue to be a strong focus
area and the new business unit will
be a key to drive fresh opportunities.
The company will also be focusing
on strengthening its delivery model
and will invest in its customer relationship teams to deepen client relationships.
Going ahead, the IT services provider will be looking at gradually
moving towards a non-linear business model, delinking revenues to
headcounts. The ServiceNXT investment was a significant step taken in
that direction.
July 31, 2015
31
the dq 20
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Rank
0 0 5
From a
storage
perspective,
flash is going
mainstream,
and this
equates to
incredible
opportunities
for HP and
its channel
partners
NEELAM DHAWAN
VP & GM, Enterprise Group and Country MD
2013-14
0 0 5
32
July 31, 2015
he biggest event for HP

globally in 2014 was
the company splitting
into two separate entitiesHP Enterprise
and HP Inc. HP Enter-
www.dqindia.com
prise takes on to next-gen tech, infrastructure, software, and services

basically the new style of IT that HP
has been evangelizing for the last
couple of years. Meanwhile, HP Inc
will take on to hardware and periphA CyberMedia Publication
erals portfolio consisting of personal

systems and printing.
But is this separation really going
to help HP? When we stack it with
arch rivals like IBM, which had shed
almost all of its low margin hardware
baggage, morphing into a software
and services company, HP still is an
amalgamation of software and hardware and whole lot of inorganic assets which it picked in the last decade or so. Given the complexities,
assets and liabilities in its portfolio,
how is HP going to seamlessly synergize all these? And how will it be
able to create a complex interplay of
devices, software and services, and
yet expand profitability and margins?
HPs EVP and CFO Cathie Lesjak
reflecting on the separation said, The
strategy remains the same. The tactic
of splitting the company is one that
is right for this time, given the market
forces that were experiencing.
The key question: Will HP be able
to capitalize on these market forces?
HP strongly believes that the separation will accelerate the progress it has
made over the last three years and will
enable it to continue to deliver on its
commitment to delivering solutions
to customers and increasing value
for employees, shareholders, and the
community.
HP without a doubt is a behemoth
and has a huge IT arsenal. In many
ways, its the sum of parts with each
division in itself a company with massive top line and P&Ls. But with the
company breaking into two, the immediate question that came on was how
is HP going to manage client engagements, relationship with channels, and
synergies between these two entities
and the cross-sell between the two?
For one, on the partner front, HP
says its Partner Navigator Program,
has been designed to help HP part|
HP believes
that bifurcating
into two entities
will provide
each new
company with
independence
AnD flExIBILIty, At
the same time
generating longterm value for
shareholders
2014-15
37,985
2013-14
36,697
4%
ners go through its separation into

two companies, while additional programs, including the Partner One Alliance, are designed to help partners
drive positive business outcomes for
their customers. These programs are
also expected to help the distributors
and the reseller network to maintain
business continuity through the separation.
www.dqindia.com
While much has been written about

the challenges HP will face going forward, lets here stick to HP India and
take a due diligence on its FY15 performance in this part of the world.
Overall, HP in India has been successful in FY15 across portfolios
hardware including PCs, laptops,
printers, servers, storage and networking to software including cloud,
big data, security and mobility and
finally, services.
While HPs worldwide server revenue grew 10% in CYQ1, 2015, and
enabled HP to secure the top spot
with 24% market share, HP also
maintained its leadership in server
shipments with 20% share. In tandem, HPs server momentum in India
too saw good traction.
Storage and networking did see
good uptick in India. For instance,
India is a key market for HP storage,
with growth rates higher than worldwide and the Asia Pacific-Japan region overall. The largest segment in
the Indian storage market is the midrange. HP 3PAR StoreServ Storage
and HP StoreOnce Backup saw very
impressive traction.
Meanwhile, HP says that it has
achieved comprehensive leadership
in both PCs and printing in FY15,
with good play in both consumer as
well as enterprise segment with the
innovative products.
So as we look ahead, FY16 will be
a defining year for HP globally and despite the challenges galore, HPs huge
portfolio offers it immense opportunities in the emerging markets.
HP in the coming year is also expected to aggressively tap into the
smart city opportunity. To this end,
the HP Future Cities team will be
working closely with the government
to provide big data, cloud, mobility,
and security solutions.
July 31, 2015
33
the dq 20
Rank
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0 0 6
HCL Technologies
HCL
Technologies
looks at a
rough road
ahead as its
growth has
come down
significantly,
primarily
because
it failed to
woo new
customers
amid rising
competition
2013-14
0 0 6
34
July 31, 2015
ANANT GUPTA
CEO
www.dqindia.com
CL
Technologies
failed to continue
its growth story in
FY15,
witnessing
a sharp dip in its
growth rate against
the previous year. While it grew at 31%

in FY14, its growth fell to merely 14%
this fiscal. It might be regarded as a
modest growth but the problem becomes apparent when we look at the
last two quarters in which the comA CyberMedia Publication
the dq 20
Rank
Rank
pany registered marginal degrowth.
The company is going through growth
challenges in its traditional markets.
HCL Technologies did not impress
in the US region but it claimed that
it has bagged transformational deals
worth $1 bn. The company gained
these deals from industries such
as consumer services, manufacturing, and public services in the European region. While HCL claims
a robust pipeline, it is struggling to
grow worldwide. Its profits have also
dipped and reduced with the experts
downplaying its potential in the next
one year. Even Shiv Nadar Foundation sold its entire 0.79% stake in
HCL Technologies for `1,108.9 crore
in the open market to comply with
regulations and the funds would be
used to realize various initiatives this
year.
HCL Technologies has been strong
in infrastructure management services which constitute a major portion
of its revenues. Even the transformational deals it bagged are related to
infrastructure services. It is believed
that HCL Technologies is not able to
stand out in the IMS space because
of the rising competition. When looking at the verticals, financial services
and manufacturing contributed most
to its growth.
In the last quarter, the company
swelled its client portfolio as $50
mn+ clients increased from 1 to 17,
$30 mn+ clients rose by 1, and $20
mn+ clients jumped by 4. In addition,
the company added 3,944 employees during the quarter, taking the
total headcount to 104,184 globally.
The company is flexing its technology muscle as it continues to put
money in expansion and developing
IP. The company expanded its facilities globally, creating over 30,000
seats across various campuses in
36
July 31, 2015
HCL
continues
to invest in
expansion
and
developing
IP, as well as
is eyeing big
opportunities
in emerging
trends such
as IoT and
M2M
2014-15
35,709
2013-14
31,200
14%
Noida, Bengaluru, and Chennai. It

is trying to leverage different tech
trends globally but has not got major breakthroughs which could yield
positive results.
The company formed alliances to
deliver solutions innovatively to its
clients. HCL Technologies and Aegon
launched cXstudio for customer-centric digital channel innovation which
www.dqindia.com
was aimed at delivering customer

experience excellence through the
adoption of the latest digital technologies.
In addition, HCL is eyeing big opportunities in areas such as Internet
of Things (IoT)/ Machine-to-Machine
(M2M), which has begun to create
buzz in all the markets globally. Since
European market is bullish about IoT,
HCL partnered with Tele2 to address
the substantial market opportunities.
By focusing on the healthcare segment in Europe, the two companies
will jointly address one of the fastest
growing areas of the M2M/IoT market.
HCL has been a dominant player
for the life sciences and medical devices segment for North America. Its
clientele consists of the top global
pharmaceutical companies, medical devices companies, health plans,
CROs, and data providers. The company recently celebrated its 10-year
long relationship with Merck & Co.,
which is a healthcare company. HCL
has been delivering a whole range of
services including transformational
software led IT solutions, infrastructure management, business, and
knowledge process services to the
customers in this sector.
On a positive note, attrition rate
in IT services has been consistently
dropping over the last 12 months.
However, in the last quarter, attrition
at business services segment jumped
to 8.3% from 6.7% on sequential
basis and 5.8% on yearly basis.
Blended utilization stood at 81.9%
in March quarter against 82.9% in
December quarter and 84.2% in the
year-ago period.
Looking ahead, HCL Technologies
is focusing on strengthening its position in the emerging markets to drive
growth.
the dq 20
Rank
Rank
0 0 7
Tech Mahindra
The
companys
Q4 FY15
numbers were
impacted by
unfavorable
macroeconomic
headwinds,
but despite
that, it had a
fair run. The
US remains
its biggest
play
2013-14
0 0 7
38
July 31, 2015
CP GURNANI
MD & CEO
iscal 2014 saw Tech

Mahindra seamlessly
synergizing the competencies out of Mahindra Satyam, and in
the bargain it became
www.dqindia.com
an end-to-end player with footprints

across IT, BPO, and telecom. But as
it marched through FY15, the growth
toned down. While the company saw
good traction in the first 9 months of
FY15, things softened in Q4 and by
the end of March 2015, the company

signed out with a reasonable 20%
growthfar ahead of most of its
competitors.
Lets take a closer look at Q4
2015, for this quarter the company
posted a revenue of `6,117 crore.
Vineet Nayyar, the companys Vice
Chairman accepted during the earnings call that Q4 has been soft with
the results being influenced by slow
decision making with some of its key
customers in terms of transformative
initiatives. Clearly, the slowdown in
the macro-economic conditions has
had an impact not only on Tech Mahindra but across the industry. That
said, going by the posted Q4 revenues, statistically the company grew
its revenues by 6.4% QoQ and its
only the organic business that has
shown a small degrowth.
But Q4 dip also has some company specific reasons as well. For
instance, the companys salary hikes
come in this quarter, this is not the
case with other IT companies by and
large. That apart, Tech Mahindra has
an aggressive play in Europe, Canada, Australia, and New Zealand. And
looking at FY15, these are the regions which went through a volatile
currency fluctuations and saw a huge
fall in the currency value. So clearly,
these two major events slowed down
the companys run in Q4.
In a significant development in
Q4 FY15, the company acquired
SOFGEN, a niche consulting and
services company with worldwide
presence specializing in private/
wealth, commercial and retail banking solutions. SOFGEN has 450+
employees with 20+ tier-1 client relationships, delivering solutions in
and around core banking. With this
acquisition, Tech Mahindra gained
competencies
and
capabilities
|
Despite the blip,

the company
grew ahead of
the industry. It
is aggressively
foraying into
new technology
and business
areas through
niche platforms
and focus on
productization for
non-linear growth
2014-15
22,621
2013-14
18,831
20%
to offer a unique combination of

change the bank and run the bank
services to retail banking, private
banking, and wealth management
customers globally.
Yet another significant buy in Q3
of the fiscal relates to the company
signing a definitive agreement to acquire global network services leader
Lightbridge Communications Corpowww.dqindia.com
ration (LCC). Through this acquisition, Tech Mahindra has transformed

into one of the largest and most comprehensive providers of technology
services to Communications Service
Providers (CSP).
If we look at other business highlights, Tech Mahindra and IBM entered into a strategic agreement to
build a platform for the development
of cloud-based applications. This
collaboration will see the company
building cloud-native and cloudenabled applications with a scalable
model to develop applications for
predictive analytics for clients in the
automotive and manufacturing industry.
As we look beyond the numbers,
over the years the company deepened its partnerships with its key
customers. The companys active client base grew to 767, out of these 87
clients have come through LCC and
SOFGEN. The company also signed
a few large deals in the enterprise
space.
Despite the headwinds in the later
part of the fiscal what has helped Tech
Mahindra was its strategic inorganic
investments thats helping it face the
adverse economic conditions and
delayed decision making cycles and
slower IT spend. The company is
also pursuing its aggressive focus on
productization for linear growth, and
at the same time wants to create an
environment for IP development and
leveraging maximum value out of its
customer relationships.
Looking ahead, the company is
expected to go ahead with its multipronged strategy aimed at improving
the overall utilization rates and further
synergize its inorganic assets and
ramp up its competencies.
July 31, 2015
39
the dq 20
Rank
Rank
0 0 8
IBM India
IBM is in the
midst of a
transformation
and if we
look at India
per se, the
revenues in
FY16 depend
on the ability
to clinch large
multi-year,
multi-million
strategic
outsourcing
deals
2013-14
0 0 8
40
July 31, 2015
VANITHA NARAYANAN
MD
he writing is clear on
the wall that IBM globally is morphing into
a software and services company, now
that it had shed most
www.dqindia.com
of its liable hardware assets. Even

as it does this transformation, IBM
is differentiating itself in hardware
through systems like Watson, new
generation systems like Z13, and
other datacenter technologies. The
the dq 20
Rank
Rank
0 0 9
Ingram Micro India

Ingram
in India
aggressively
pursued
on large
enterprise
mandates
and forged
closer
collaboration
with key
vendors
K JAISHANKAR
MD
2013-14
0 0 9
42
July 31, 2015
ngram Micro in India had a

good year despite the IT distribution industry being mired
by oppressive tax regulations
in this part of the world. What
drove Ingram Micro Indias
www.dqindia.com
revenues was the strong enterprise

sales and good growth in the handsets portfolio. Of all the emerging markets, India is demonstrating bigger traction and if we look at
the companys global revenues, for
CY2014, it posted $46.5 bn globally

and 61% of its global revenues have
come from outside the US with APAC
countries demonstrating impressive
traction. If we further drill down, India
is one key growth country for Ingram
and is positively impacting its global
revenues.
Since FY14, Ingram is globally
making a conscious attempt to re-innovate itself in the distribution space.
At the end of FY14, it embarked on
a new brand identity in sync with the
times. If one looks at FY15, clearly
it connected the new brand identity
with the vendors and channel partners and projected itself as an agile
distribution shop to be able to embrace the wide ranging technology
disruptions and emerging opportunitiesstarting from core IT opportunities to smartphones, tablets, and
non-IT products, and training.
For instance, its aggressive foray
into the education sector amply
demonstrates how Ingram is looking at verticalized services and offering specific solutions for specific
verticals like IT training. For instance,
through the Ingram Micro Education
Services (IMES), the company delivers education services specially
designed and crafted by specialists
to meet the customers needs. The
company has ambitious plans on
becoming one of the top commercial
education centers in India.
To this end, Ingram Micro has invested resources and efforts to make
sure all the classrooms and labs are
fully equipped; trainers are professional and well-trained to deliver top
quality courses; and service staff is
fully trained with substantial product
knowledge to serve the customers at
all levels.
IMES aspires to maintain the quality and prestige by delivering most
|
With IT distribution
becoming
extremely
challenging,
Ingram was able
to post robust
growth due to its
ability to leverage
predictive
analytics, leading
to bigger business
outcomes
2014-15
15,823
2013-14
14,128
12%
pleasant and productive learning

experience. It represents Microsoft,
Symantec, Red Hat, Eucalyptus, IBM,
and Fortinet as authorized training
partners. It is also planning to start
a testing center soon. With this, the
company is looking at broad basing
the availability of skilled technology
personnel and looking at meeting the
requirements of organizations, which
www.dqindia.com
are increasingly dependent on highly

skilled IT professionals to improve
efficiency and reduce costs. Here
IMES goal is to provide support with
robust technical training courses and
hands-on labs. Information available
suggests that its trainings recognize
and reward real-world skills to help
its customers gain a competitive advantage in the market place.
If we look at the business strategies of distribution companies, since
the last few years, they have been
adopting a multi-pronged strategy to
de-risk themselves from the intricate
complexities that govern distribution
in this part of the world. So in the last
few years, distribution companies like
Ingram and Redington have morphed
into an end-to-end SCM player, with
a portfolio that included electronics
and white goods as well. In the nonIT space its majorly smartphones
that is giving in good revenue yield.
While Ingram has a huge portfolio
cutting across software, security to
consumer electronics segments, lets
look at some significant updates over
the last year. Ingram collaborated
with Dell and launched Dell Storm,
an outreach program that encompasses 117 tier-2 and -3 cities in India. Dell with this program effectively
leveraged the extensive Ingram channel ecosystem and thereby Dells offerings became one key product in
Ingrams portfolio.
Looking ahead, with India becoming a key geography for Ingram, the
company is clearly adopting a customized roadmap. What puts Ingram
in an advantageous position is its expertise in giving significant value to
vendors and resellers. In this regard,
Ingrams Business Intelligence Center (BIC) plays a critical role in creating a seamless positioning of a wide
ranging products.
July 31, 2015
43
the dq 20
Rank
Rank
0 1 0
Redington India
The one
ask of all
distribution
players
would be to
make it easy
to conduct
business
without
being at the
mercy of
interpretation
of various
statutory
regulations
(FROM L-R) EH KASTURI RANGAN, Jt .COO and

PS NEOGI, Jt.COO
2013-14
0 1 0
44
July 31, 2015
T distribution is a business
thats known for its wafer-thin
margins. Its majorly a bi-polar
world with Ingram and Redington locking horns. As we take
the audit of the year went by
www.dqindia.com
and look at Redington per se, the

first thing we notice is the modest
growth. But going by the challenging
FY15, one needs to say it was a good
performance by Redington.
The company terms that FY15
was an unusually challenging year.

This was because with the change in
government at the center, everybody
expectedunreasonably, if we may
now say soimmediate results and
a dramatic improvement in the business environment. Obviously, that
did not happen.
The factors that put the brakes on
growth were the ones like liquidity
that remained tight and put the pressure on the funds rotation of Redingtons channel partners and that had
consequences on its rotation. The
interest rates also remained high,
maintaining pressure on margins.
Moreover, the ecosystem was disturbed due to explosion in the business being diverted to the eCommerce sites and this took time to
play itself out. Overall, while there
were growth opportunities in pockets, which have allowed Redington
to show a reasonable growth as an
organization, broad based opportunities were limited. Given this, Redington tried to make the best of the
situation.
If we take up a close view of Redingtons performance over the year, it
saw good traction in the overall consumer segment helped by the market-share gains by HP and Lenovo.
It secured high growth in the overall
Apple portfolio as well. Good revenue
opportunities in the software, security, and enterprise storage space and
steady opportunities in the SMB segment helped it achieve this modest
growth.
So what kind of strategy Redington adopted over the year? It took
on to a multi-pronged strategy and
started offering solutions in the storage, security, and video/audio space
with a few key vendors. It formulated
and initiated its cloud strategy, which
encompassed an integrated, vendor
|
With
challenging
business
dynamics,
Redington
adopted a
multi-pronged
strategy,
took on high
opportunity
areas, and
consolidated
its portfolio
2014-15
14,610
2013-14
13,657
7%
agnostic, partner-centric, servicesbased approach. The elements were

put in place last year and the company would start offering a cloud portfolio to its partners from the second
half of this fiscal.
Meanwhile, ProConnect, its SCM
arm geared up for value-added, comprehensive supply chain solutions
and this helped it attract many 3PL
www.dqindia.com
customers across different industry

verticals.
Redington also concentrated on
consolidating its portfolio and added
a very few vendors over the year like:
Smart Enterprise, Ubiquity, Capsdase, Barracuda, Belkin, Philips, and
Vaultize.
Meanwhile, its Apple Mac business saw good uptick and had good
traction in iPhones as well. On the
smartphones side, the company is
planning to induct domestic brands
on to its portfolio. Right now Redington does Apple and BlackBerry
smartphones; with addition of Indian
brands it is looking at the volume
market in FY16, and thats a good
business strategy.
As one looks ahead at FY16, Redington is expected to enhance customer focus through restructured
and integrated business groups. It
has also prioritized to implement its
cloud strategy and will increase its
cloud offerings. Moreover, with vendors like HP bifurcating on hardware
and software into two independent
entities is expected to create more
focused opportunities for distributors and channel partners. But cash
crunch and flow would be one big
challenge for distributors and they
need to manage it judiciously. The
realignment of business in an integrated fashion across consumer,
commercial, cloud et al is also expected to deepen its mandates and
in all FY16 looks like a far better year
for Redington as compared to FY15.
However, much also depends on the
technology refresh cycles in FY16
and its the emerging tech areas that
offer bigger scope for Redington
moving forward.
The companys aggressive strategy on emerging tech is expected to
usher in good growth in FY16.
July 31, 2015
45
the dq 20
RAnk
RAnk
0 1 1
Dell India
Great year
for Dell
India as the
company
clocks a
robust top
line growth
of 30% in
FY15, with
renewed
vigour, post
privatization
ALOK OHRIE
President and MD
2013-14
0 1 2
46
July 31, 2015
www.dqindia.com
early 1.5 years

since Dell made
its transition from
a public to private
company, the transformational journey
continues as the traditional hardware

company tries to solidify its position as an end-to-end player in the
changing IT market. The move seems
to have turned out to be fruitful as
the PC major puts up an impressive
show across all business segments,

clocking a massive 30% growth in
FY15 over the previous fiscal.
Post privatization, strategies were
realigned, internal organization was
restructured in line with the new objectives, and a bolder roadmap was
laid out.
The performance in the last one
year throws enough evidence that the
decisions are paying off well. The fact
that the company is no longer under
the constant glare of Wall Street and
doesnt have to think about meeting
short-term investor expectations has
shifted focus on long-term performance globally and has instilled fresh
confidence in the leadership team to
make some bold moves.
In FY15, the company has stayed
focused on acquiring new capabilities, reorganizing backend operations, and optimizing its supply chain.
Privatization has brought in the much
needed flexibility that is crucial in doing so.
At the heart of Dells ongoing transformation lies its new go-to-market
strategy which was initiated in early
2014. This has helped the company
in significantly expanding its market
coverage, geographic reach, and
partner ecosystem. In India, while the
customers have grown by 25%, the
number of partners has gone up by
over 100%.
While it is aggressively chasing its
enterprise objective, the company
remains pretty focused on its PC
business. India still holds immense
potential for PCs as is evident from
the 7.5% revenue growth in the Dell
CSB (Consumer and Small Business)
segment in 2014, which is the highest ever annual share gain in the India
CSB segment. As per IDC estimates
for Q4 2014, Dell was ranked #2 in
the overall PC market with a ship|
Dells end-toend game plan

will require
the traditional
hardware
company
to make
selective
choices
across its
different
segments
2014-15
13,984
2013-14
10,757
30%
ment share of about 25%.

In the software space, the companys acquisitions have helped it build
a strong portfolio including information management, data protection,
and security.
The Enterprise Solutions Group
(ESG) did well with the servers, storage, and networking segments gaining momentum. In India, Dell curwww.dqindia.com
rently has 23% unit shipment share

of x86 servers as per the Q4 2014 results from IDC. Globally, it continues
to see a surge in revenues in the server space and is inching closer to big
rivals like HP. Demand from new age
eCommerce and start-up companies
was a key factor in driving growth in
this space.
Being relatively new, Dell storage
segment also showed impressive
growth signs. The company is placing bets especially in the hybrid flash
storage space. In Q4 2014, it held
about 8% market share and was
ranked #5, as per IDC.
To enhance its strength in the services space, Dell is pumping in investments into areas like digital mobility
and cloud-based services. The company is seeing strong traction in the
Indian market for application services
and is primarily focused on verticals,
including healthcare, manufacturing,
and retail.
In FY15, Dell also had significant
deal wins in India, prominent one was
a deal with Flipkart, where the eCommerce company deployed Dells
PowerEdge Servers.
India holds a key position in Dells
future growth strategy. It is now the
fastest-growing market for the company globally and is the third largest
market after the US and China. Going
ahead, India R&D will play a crucial
role in Dells enterprise strategy.
The company will also be looking
at expanding its presence in tier-3
and -5 cities and further strengthening its network of channel partners in
India.
FY16 is likely to be an interesting
year for Dell as it will throw more light
into the companys future strategy
and the different choices it will make
to ensure success of its end-to-end
game plan.
July 31, 2015
47
the dq 20
Rank
Rank
0 1 2
Oracle India
Oracle Indias
growth in
FY15 was
largely
driven by its
aggressive
cloud strategy
of roping
in new
customers
and
strengthening
its presence
among all
kinds of
businesses
2013-14
0 1 1
48
July 31, 2015
SHAILENDER KUMAR
MD
lthough a late entrant

in the cloud journey,
Oracle has made
considerable strides
and acquired a good
number of customers
www.dqindia.com
in India. Driven by its cloud strategy,

Oracle was able to grow as much as
9% in India in FY15. Interestingly, the
company is inching forward to become a $2 bn company in India. Its
cloud move has begun to pay diviA CyberMedia Publication
dends as it has acquired a number

of new customers in India. Earlier this
year, the company announced that it
has acquired 50% net new customers for cloud alone whereas others
are its existing. Oracles cloud strategy is aligned with its core business
as it offers cloud capabilities to its
customers for the same applications
hosted on premise. It is a profitable
move since the license revenues are
expected to shrink in the future.
Given the demand for cloud in the
Indian market, Oracle endeavored
to change its perception among the
SMEs and was able to hook in good
number of growing customers. According to Oracle, SMEs are one of the
biggest focus areas for its cloud business in India. To strengthen its presence among all kinds of businesses
(large and SMEs), the company decided to add 300 professionals to its existing workforce of 31,000 employees in
India. The move is aimed at enabling
Oracle to strengthen its cloud footprint.
In its traditional positioning, the
company had a modest growth from
enterprise software licenses. However, it continues to be a dominant
player in the database business as it
continues to rule the RDBMS market
with 63% market share. The company has witnessed modest growth
for most of its enterprise applications such as ERP, CRM, PeopleSoft,
etc. But the ringside view explains
that Oracle had barely changed its
business strategy which is centered
around Exadata machines. Definitely
the software vendor found many takers for the engineered systems in India. Globally, it has crossed 10,000
numbers for engineered systems. But
more than its engineered systems,
the company witnessed growth in its
server business. After Cisco, which
witnessed solid growth for its USC
|
Oracle
hired 300plus sales
professionals
during the
fiSCAL TO
increase
its cloud
footprint
and deepen
existing client
relationship
2014-15
12,440
2013-14
11,437
9%
servers globally, Oracle was the only

vendor whose server business grew.
The company reported significant
customer wins from all verticals and
claimed that it acquired a number
of customers from its competitors.
Verticals like IT/ITeS, telecom, banking, and automobile industry, among
others fared good for the company.
Among the customers it bagged in
www.dqindia.com
FY15 include Airtel Learning, Apollo

Hospitals, Jabong.com, Intel, Aditya
Birla Management Company, Maruti
Motors, Hero MotoCorp, BigTree Entertainment, Sonata Software, Myntra.
com, Kalpataru, NetApp India, Adobe
Systems, Haier, Thomas Cook, Natures Feast, Sudhir Gensets, etc.
Oracle saw little uptake in the government sector as most of the state
governments in India went through a
planning phase. However, the company executed some big projects in
different states. One of the biggest
projects was done with the Ministry
of Defense.
The company had to undergo leadership crises last year when its India
Managing Director Sandeep Mathur
stepped down all of a sudden. It was
rumored that he had bribed a few
customers. But the company never
laid the facts out. Mathur was soon
replaced with Shailender Kumar. Kumar is putting his energy to enhance
the companys cloud presence in the
country while regaining customer confidence from all verticals.
Oracle India is the only organization outside Oracles headquarters
in California to represent all divisions
including sales, marketing, consulting and education operations for the
domestic market, global product development, global consulting, support to global customers, sales (over
the Internet), and global financial accounting analysis. The company has
more than 7,000+ customers across
technology and applications which it
caters to directly and through 1,000+
partners. Oracles services business
is estimated to account for 47% of its
total revenues in India, while its technology (including databases) business
contributes 29%. Systems, applications, and middleware account for the
remaining business revenue.
July 31, 2015
49
the dq 20
RAnk
RAnk
0 1 3
SAP India
SAP
needs to
address the
leadership
crises it
has been
facing for
some time
to steer the
company
forward and
increase
its footprint
in different
verticals
2013-14
0 1 4
50
July 31, 2015
DEB DEEP SENGUPTA

MD
www.dqindia.com
ith a modest growth of

4%, the year
was certainly a
mixed bag for
SAP. In FY15,
SAP centered its strategy around

cloud and HANA which began to see
some momentum. However, the momentum was more from the mid-size
firms rather than the large enterprises.
With large enterprises also warming
to cloud, the company is hopeful of

reaping great dividends in the coming
years.
That said, SAPs sweet spot has
been its enterprise applications
business since ERP, CRM, BI, and
SCM account for a larger portion
of its business in India. The company still leads the ERP market in
India with a considerable market
share. Similarly, in other areas such
as CRM, SCM, and BI, the company gives a tough competition to
counterparts such as Oracle, IBM,
Microsoft, and others. If Gartner is
to be believed, SAP stands at the
fourth place after Microsoft, Oracle,
and IBM in the software market in
India. The companys software revenue in India acounts for $317 mn
with a single-digit growth of 8%.
However, the company is suffering from instability crises at the top
level in India. It has seen more than
four managing directors in less than
four years in the country. SAP India
appointed Deb Deep Sengupta as
its Managing Director for India. Sengupta replaced Ravi Chauhan who
spent a very little time at the top position. The frequent changes in the
top leadership have not sent a strong
signal in the industry and among customers.
Globally, SAP delivered strong
revenue growth in 2014. Full-year
earnings posted 59% growth YoY in
non-IFRS cloud subscriptions and
support revenue (60% at constant
currencies), driven by a strong demand for the SAP Cloud portfolio and
the SAP HANA platform. Non-IFRS
cloud subscriptions and support revenue also grew by 98% YoY (87% at
constant currencies).
SAPs performance for the year in
APJ reflected migration of existing
and new customers to SAP Cloud
|
SAP is
bullish about
its cloud
solutions in
India and
has gained
traction in
the emerging
segments
such as
eCommerce
for its cloud
offerings
2014-15
9,896
2013-14
9,520
4%
and strength in its core SAP HANA

and analytics businesses. India delivered strong double-digit software
revenue growth in Q4. The company
also continued to see broad adoption of SAP HANA across industries
and use cases in APJ. Non-IFRS
software and software-related service revenue grew by 6% (2% at conwww.dqindia.com
stant currencies) in Q4. Increased

demand for the SAP HANA platform
was reflected in accelerated growth
for SAP Business Suite powered by
SAP HANA.
The rise of eCommerce in the region is also boosting demand for
omni-channel commerce solutions
from hybris and cloud-based procurement and trading network from
Ariba, both of which are SAP companies. SAP acquired hybris in 2013
and the company officially became
a part of SAP from January 1, 2015.
hybris was named as a Leader in
Gartners latest Magic Quadrant for
Digital Commerce in late September, reflecting the strengthening of
its position in the eCommerce market through 2014.
From back office to boardroom,
warehouse to storefront, desktop
to mobile deviceSAP empowers
people and organizations to work together more efficiently and use business insights more effectively to stay
ahead of the competition.
In India, SAP is the clear market
leader in the ERP space. SAP India
is the third largest subsidiary for
SAP with over 8,000 employees.
The company has a direct presence in eight Indian cities including Bengaluru, Mumbai and Delhi
and has 6,600+ customers in the
country. Interestingly, its 83% customers are SMEs which indicates
its strong presence in the country.
SAP claims to spend more than
13.5% of its total revenue on R&D
to constantly innovate and bring
out the world-class solutions.
In FY16, SAP needs to address
the leadership crises in India if
it wants to strengthen its market
share in different segments, especially cloud where it has just begun
its journey.
July 31, 2015
51
the dq 20
Rank
Rank
0 1 4
Cisco Systems India

Cisco is
discovering
ways to
expand and
increase
adoption of
its solutions
in India. It
continues
to invest in
the wake of
business
opportunities
generated by
government
initiatives
2013-14
0 1 3
52
July 31, 2015
DINESH MALKANI
President
espite facing stiff

competition from its
Chinese
counterparts, Cisco Systems
India managed to
clock a 9% growth in
www.dqindia.com
FY15. Its turnover for the fiscal stood

at `9,740 crore as against `8,902
crore in FY14. The company has a
strong focus on India and is looking
at ways to increase its presence in
the country. However, it has not been
able to double its India business,

which it has been aiming for the last
few years. Despite 9% growth, the
company is struggling to increase its
sales presence in the country. While
the company is endeavoring to increase its presence in the enterprise
segment for its networking and datacenter solutions, it is in the process
to identify a clear growth trajectory in
the country.
India is Cisco Systems second
global headquarter and accounts for
30% of its overall talent base. The
companys current headcount stands
at 10,200. According to Ciscos CEO
John T Chambers, the company is
investing close to $1.7 bn in India annually. Cisco has realized the growth
potential in India, given Modi governments push on Digital India and
Make in India. Last year, the government was in the planning phase,
hence it did not result into any business for Cisco India. However, it now
hopes to gain from various government projects that will have a great
impact on its revenues.
Chambers had earlier hoped to take
India revenues to 5% of the global
revenues. However, his expectations
have not even reached half way as India contributes meagre 2% to its global revenues. Cisco is now hoping to
reap on the growing demand for cloud
and networking solutions in India.
The company has also announced
new local strategic initiatives, including the move to enable manufacturing in India to support the Digital
India vision. It has announced plans
for direct and indirect investment of
up to $20 mn over the next five years
into the Cisco Networking Academy,
with additional $40 mn for the next
phase of expansion in India.
Apart from Ciscos traditional networking portfolio, Cisco rapidly grew
|
Cisco aims
to double its
India business
in the next
few years. It is
betting big on
the government
projects such
as smart cities
and Digital
India
2014-15
9,740
2013-14
8,902
9%
its server business. Its UCS range of

servers has fast taken on the competition who are losing their market share
in the server space. Overall, the company is trying to diversify its business
from the switching and router space
as it sees opportunities in new areas
such as cloud, mobility, IoT, and big
data. Cisco eyes great opportunity in
Indias focus on building 100 smart
www.dqindia.com
cities. The company closed four deals

last year for four smart city projects
such as Navi Mumbai, Pune, Jaipur,
and Lucknow. While Cisco is providing the networking infrastructure for
the projects, it is working with partners which will provide different solutions such as smart street lighting,
traffic management systems, CCTV
security surveillance systems, and
water management systems.
The company is putting a lot of
emphasis on its own version of IoT
which it calls the Internet of Everything. It has successfully created the
buzz for this trend but has not yet
seen any uptake as IoT is only a part
of the boardroom discussions.
Cisco Systems India has been
seeing frequent changes in the top
leadership in the last few years. FY15
saw Jeff White, Ciscos President and
Country Manager for India and Saarc
region moving out of the company.
White had moved to India in January
2013 replacing Naresh Wadhwa, who
had spent almost 15 years in Cisco.
Later, Dinesh Malkani replaced White
who began to oversee Ciscos business in the region.
The main area Cisco needs to address is the fierce competition it faces
from its Chinese counterparts which
are offering solutions at much lower
prices to its traditional strongholds
telecom operators. Cisco has to identify new revenue streams in India and
expand its network to tap market
opportunities in the government and
large enterprise segments. Besides,
the company needs to create a business strategy to rope in mid-size enterprises which are afraid of doing
business with Cisco as they consider
it a premium brand. If it is able to move
beyond its traditional image, Cisco is
set to grow and increase its customer
base in the country.
July 31, 2015
53
the dq 20
Rank
Rank
0 1 5
Microsoft India
Microsoft
India has
invested
`1,400
crore
in three
datacenters
which would
be unveiled
by the end
of 2015
BHASKAR PRAMANIK
Chairman
2013-14
0 1 6
54
July 31, 2015
icrosoft India continued its growth

momentum during
the fiscal 2015 in
the Indian market
with a solid 19%
www.dqindia.com
growth. Even though Windows sales

were stable after the XP refresh, the
company kept on pushing Windows
8.1 along with Office to entice consumers and revive sales. However, its
biggest bet is on Windows 10 which
is being launched in July 2015. With

the changed revenue model for the
upcoming Windows, it aims to garner
significant customer interest. Besides,
the company had a good time in the
overall software market where it continued its leadership and increased
market share over the other vendors.
In FY15, the software giant witnessed growth from all the major verticals. It jumped into different territories
to tap the future growth. In addition,
the global leadership especially CEO
Satya Nadella is betting big on India.
He has helped the company renew its
focus with big investments in the country that will help the software vendor to
double its business from different verticals including the government.
Eyeing a big chunk of government
business in India, Microsoft earlier
last year announced an investment
of `1,400 crore to set up three datacenters in India. At the end of this
year, the company will launch these
datacenters and will be able to provide data storage within the country
for various government and other organizations. The move is expected to
provide an edge over the other software vendors who are still exploring
opportunities to set up datacenters in
India. The datacenters are expected
to help the company to expand its
Azure business in India.
Besides, the company grew its
software revenues in the country and
maintained its leadership position as
the software vendor in the Indian market. According to Gartner, Microsoft
maintained its #1 position in software
revenues in India, accounting for 25%
of the overall sales in 2014. The company earned more than $1 bn from the
software business alone.
Since April 2013, the company
has been manufacturing, replicating,
marketing, and selling Microsoft soft|
Microsoft is
betting big on
Windows 10;
it has moved
away from
the traditional
revenue model
in order to
compete with
Googles
Andriod
2014-15
8,624
2013-14
7,224
19%
ware retail products and services in

India. The share of marketing support services has declined from 87%
of revenue in the year ended March
2013 to 4% in the current year, the
company said in the filing.
Microsoft is trying to sell its cloud
services and offerings in India and has
bagged a lot of customers from mid to
large companies for various cloud ofwww.dqindia.com
ferings, including Office 365. But while

the company has been aggressively
pushing its cloud platform Azure in India, experts feel it still has a long way
to go before it catches up to nimbler
rival Amazon Web Services, which has
had immense success bringing small
and medium enterprises on board in
the country. But its investment in three
datacenters is going to give a boost to
its cloud business in India.
There are already encouraging
signs of cloud adoption for Microsoft
India as it claims to register tripledigit growth in the country. This is in
line with the growth being registered
by Microsoft Corp globally.
In the last one year, Microsoft India partnered with the Government
of India for various projects. A major
project it bagged was from the Surat
Municipal Corporation to transform
Surat into a smart city.
Further, it launched Edu Cloud, a
cloud computing-based offering to
enhance digital learning and teaching
in schools and higher education institutions. This is expected to benefit 10
lakh teachers and 60 lakh students in
1,500 institutes. Besides, the company
introduced unlimited OneDrive storage
for all Office 365 subscribers, entered
a strategic partnership with Dropbox,
launched Skype for Business, and introduced Xbox One for its broad fan
base in India in September 2014.
Microsofts India strategy is centered around the untapped SMB and
SME class for its Office 365 and other
offerings. It has got an early success
and is one of the leading cloud providers for the mid-and small segments
today in India. Microsoft India has
yet to resuscitate the Windows business. It is hoping big on the upcoming launch of Windows 10 but doubts
persist among industry observers and
analysts.
July 31, 2015
55
the dq 20
RANK
Rank
0 1 6
IGaTE
Despite
the slowing
pace of the
IT services
industry,
IGATE has
remained on
the positive
growth
track with its
investments
in the right
areas
ASHOK VEMURI
CEO
2013-14
0 1 7
56
July 31, 2015
ven as the IT services

industry
struggled
under the impact of
cross currency fluctuations, IGATE managed to pull off an
www.dqindia.com
impressive show as compared to the

previous year, clocking a 17% increase in the top line. The companys
FY15 performance was backed by
significant client wins and its efforts
to streamline processes. The IT servA CyberMedia Publication
ices provider has been heading in the

right direction with its investments
in differentiated industry utility solutions, client-centricity, and next-generation capabilities. The company
saw increased business from recurring customers as a result of its strategy to focus on the expansion of its
relationship with existing customers.
IGATEs industry utility solutions,
Reference Data Management Solution for the financial sector (IDMS)
and Long Term Care Solution for the
healthcare sector (IBAS) continued to
see growth momentum and helped
drive a differentiated industry value
proposition in a highly competitive
services market.
Currency fluctuations did impact
margins to some extent and the
company also faced some margin
headwinds due to the continuing investments it had to make in some of
its transformational client engagements, expanded client coverage,
and hiring for growth. Yet, the performance across service lines was
strong enough to keep it on a positive
growth track.
The major highlight for FY15 was
IGATEs acquisition by Capgemini
for a sum of nearly `25,000 crore.
The buyout is expected to beef
up Capgeminis presence in North
America and also bring about greater
scale and operational efficiencies for
IGATE.
The company is focused on building its onshore presence and aims to
attain a healthy mix of onshore, nearshore, and offshore operations. The
US continues to be the leading market for IGATE witnessing about 10%
revenue growth between January
to December, 2014. The IT services
company is also looking at expanding its delivery centers in Canada.
Additionally, it opened a new delivery
|
French IT
services player
Capgeminis
acquisition
of IGATE for
a whopping
`25,000 crore
in FY15 was
one of the
biggest ever in
the IT services
industry
2014-15
7,879
2013-14
6,734
17%
center in Budapest, Hungary.

The year saw some key partnerships
building up for IGATE. It announced
a new partnership with OpenSpan to
utilize OpenSpan Desktop Automation
and Activity Intelligence to enhance its
contact center operations and consulting services to customers in North
America and Europe.
IGATE and XTEL, a provider of
www.dqindia.com
sales automation solutions, announced a partnership to deliver

comprehensive sales solutions to the
consumer goods industry in the US
and Canada.
The company also entered into an
agreement with Experitest, known
to be a leading provider of quality
assurance tools for mobile DevOps
including test automation, manual
testing, performance testing, load
testing, and monitoring for mobile
applications. The partnership will allow IGATE to offer Experitests endto-end mobile application testing
tools to businesses throughout North
America.
One of the significant deal wins in
FY15 included the one with Rio Tinto,
a global mining and metals company,
as part of which the IT services provider will develop its Analytics Excellence Center in Pune. IGATE will
provide Rio Tinto with analytical capabilities to identify opportunities for
enhancing efficiency and productivity
across Rio Tinto managed operations.
Towards the beginning of the year,
the company also unveiled a new
brand identity, with a new logo designed to showcase its refreshed vision, mission, and core values.
In line with its expansion plans,
IGATE announced a new facility in
Noida, India. The new facility added
to its existing offices in Noida that
are housed in the Special Economic
Zone.
The acquisition by Capgemini is
expected to instill IGATE with better scale and efficiencies and add to
its overall strengths. The companys
digital practice will be a key focus
area in 2015. Its investments around
tools, methodology, automation, and
program management are expected
to pay off significantly in the coming
quarters.
July 31, 2015
57
the dq 20
Rank
RAnk
0 1 7

Strengthening
the endto-end
datacenter
services and
solutions
portfolio and
expanding
geographical
reach were
keys to yet
another
year of solid
performance
for Schneider
in India
2013-14
0 2 0
58
July 31, 2015
NIKHIL PATHAK
VP & Country GMIT Business India & Saarc
espite a staggering
demand on the government side, APC
Schneider Electric
Indias IT business
managed to register
www.dqindia.com
a robust growth in the market share

in FY15. With an impressive overall
performance, it has climbed up to
17th spot in the DQ rankings from 20th
last year. Pretty much in line with the
previous year, growth was largely led
by the datacenter segments, including datacenter life cycle services and

datacenter physical infrastructure solutions.
The company has attained a strong
spot for itself in the datacenter infrastructure market with a complete
portfolio that includes racks, UPS,
cooling, and software.
A balanced mix of innovative solution offerings plus expanding customer reach has helped the company
drive growth in the Indian market. It
has been launching products across
the range and has been building up
its datacenter solutions portfolio.
The companys ability to eye emerging trends and respond quickly has
helped it stay relevant in a highly
competitive market. One important
trend that Schneider has witnessed
over the year is that despite many
new datacenters being built, a lot of
datacenters are actually aging. Sensing an opportunity, the company has
been investing in providing datacenter assessment services to customers.
In India, it sees a huge opportunity in leveraging the large network
of channel partners. This has been a
key focus for Schneider over the last
couple of years and the company has
been making consistent investments
on that front.
One major challenge that it faced in
the year was a slowdown in demand
from the government side.
Yet, India continues to be a major
growth driver in the APAC region. The
company is optimistic that the Digital India initiative by the Indian government will accelerate technology
adoption and in turn drive larger opportunities for the datacenter service
providers.
The year saw Schneider coming up
with some key launches. In November
|
The company
is sensing
huge
opportunity
in the
governments
Digital India
initiative and
expects it to
drive growth
in FY16
2014-15
6,848
2013-14
6,114
12%
2014, it announced InfraStruxure(ISX)

for SMBs in India. The roadshow for
ISX SMB was done across 10 cities
in India. The company also launched
a portable charging device in India
called APC Mobile Power Pack in two
variants: 5,000 mAh and 10,000 mAh.
Moving into FY16 Schneider is
seeing renewed confidence in the
Indian market and will be looking at
www.dqindia.com
working more closely with its channel

partners and customers. The company will be focused on expanding and
strengthening its product leadership.
The thrust on geographical expansion continues. Schneider plans
to develop and grow professional
services by reaching out to over 150
channel partners across over 24 cities, especially in tier-1 and -2 cities.
In order to reach 95 towns across
India, IT business along with other
business units under Schneider have
started a campaign called Schneider
Electric Proximity Roadshow.
Foreseeing the burgeoning demand in the SMB space, the company also aims to significantly localize
and expand its mid-market offerings
to address the growth from existing
and newer geographies.
With the shift to cloud and portable
devices, the data network connection
becomes critical. The company will
hence be more focused on leveraging
on digitization and mobility trends.
Another area where the company
sees strong potential is the Installed
Base Services, where it is looking to
maintain and retrofit customers and
also looking to leverage customer
base by cross-tracking its businesses.
Opportunities around Digital India
initiative are also expected to drive
growth in FY16. The company is already working with the Indian government to create blueprints for an ideal
smart city and is actively participating in the upcoming live smart city
projects in India.
Integrated solution offerings will be
a key focus area going ahead. In line
with its strategy in the last few years,
building and strengthening an end-toend portfolio of services and solutions
around datacenters will help the company maintain and solidify its position
in the Indian IT landscape.
July 31, 2015
59
the dq 20
Rank
0 1 8
Capgemini India
With more
than 50,000
employees,
Capgemini
India is
the largest
offshoring
center for the
company
ARUNA JAYANTHI
CEO
2013-14
0 2 4
60
July 31, 2015
or French IT consulting firm Capgemini,

India plays a pivotal
role in the groups
overall strategy. The
group has been wit-
www.dqindia.com
nessing a robust growth in the India

market in the recent past. In FY15
too, Capgemini India continued
on a strong growth momentum,
registering about 15% growth.
The companys revenues grew to
`6,305 crore from `5,483 crore last

fiscal. Its strong performance has
helped the company climb up the
ladder in our rankings and move to
18 th spot as compared to 24 th last
year.
Focus on India can be gauged from
the fact that out of the global strength
of 143,650 employees in more than
40 countries, the company has over
56,000 employees in India. However,
with the recent acquisition of IGATE,
the employee base for India will increase to 80,000-85,000 employees
in the country by the end of this year.
This has overshot its internal hiring
target of 70,000 employees by the
end of 2016. Capgemini is also the
only European firm to employ more
than 50,000 people in India, making the country its largest offshoring
center.
Further, Capgemini has spent
over $5 bn in acquisitions in India
IGATE, Kanbay, Unilevers finance
and accounting processing services
arm, Indigo, and Thesys Technologies.
Capgemini CEO Paul Hermelin has
publicly said that with IGATE acquisition, the firm has become one of the
biggest leaders in the IT outsourcing
space.
With the IGATE acquisition,
Capgemini will also become strong
in the infrastructure business. The
acquisition is expected to bring
Capgemini at par with its competitors like IBM, Wipro, and HCL
Technologies, which have a robust
systems integration and infrastructure business. The acquisition
will also make the company more
competitive from a delivery point
of view. For example, as some
analysts have pointed out, IGATEs
presence in tier-2 cities will be extremely beneficial to Capgemini
|
Capgemini India
has spent over $5
bn in acquisitions
in India
IGATE, Kanbay,
Unilevers finance
and accounting
processing
services
arm, Indigo,
and Thesys
Technologies
2014-15
6,305
2013-14
5,483
15%
in terms of reducing labor-related

costs. The acquisition also diversifies Capgeminis revenues from a
sector point of view. For example,
IGATE derives about 42% of its
revenues from the financial services sector.
As offshoring contributes a huge
percentage of Capgeminis global
revenues, and India handles more
www.dqindia.com
than 80% of the offshore work, this

deal will help it compete with competitors such as Accenture and IBM
effectively. That said, not every acquisition is successful. To make this
acquisition work, Capgemini will
have to spend a lot of time in integrating the different delivery methodologies that both the companies
follow.
Besides delivery, Capgemini India
also uses India as a test bed to test
new solutions with Indian clients. The
firm has developed some innovative
solutions in India for clients in the
utilities sector.
In India, more than 85% of the
work is divided between application
development, infrastructure management and consulting services,
while 15% comes from BPO. India is
also expected to play a pivotal role
in the emerging field of digital services. Capgemini India has six innovation labs which will help in driving
digital transformation for its clients.
The bulk of the business is expected
to come out of the US in the next
one year.
Like other MNCs, Capgemini India is also trying to improve women
representation at senior levels. As
per media reports, over the past
three years, the diversity ratio has
increased to 26% from 24% in
2013. These efforts can also be
seen in campus hiring wherein the
company has hired more female engineers this year.
Capgemini reports having a good
customer base comprising marquee
clients. It helped the Maharashtra
Sales Tax Department in fighting tax
fraud, notably by collating data from
various external agencies across Maharashtra, as well as the Indian government. This was another feather in
the cap for the company.
July 31, 2015
61
the dq 20
Rank
0 1 9
Intel India
Intel globally
needs to reinvent its
mobile play
and come
out of its PCcentric mould;
this will kickstart and
ramp up India
revenues as
well
DEBJANI GHOSH
MD
2013-14
0 1 8
62
July 31, 2015
ntel India continues to face

challenges in the Indian market as it struggles to sustain its
growth trajectory due to falling
sales of PCs. Globally too, the
company is wading through
www.dqindia.com
rough waters as it has not been able

to increase its footprint in the growing
segments such as mobile and tablet.
In FY15, Intel contained its degrowth
to -2% as against to -5% last year.
The company lost market share
to AMD in the local market as opposed to the global trend where AMD
is struggling to gain a foothold. Intel
significantly lost to the competitors
when it failed to provide chips at
competitive prices for various state
governments free laptop schemes.
In the consumer market, the company witnessed PC adoption trend in
the later part of the year. But this was
not enough to show the company a
positive roadmap. As opposed to
earlier years, the assembled PC market was far slower which has been
the biggest setback for the company.
The problem with Intel is that it is
straddling the fence between PCs
and smartphones. While it is considered to be the best in the PC space,
it is yet to show its significance in
the smartphone and tablet arena
with competitors such as Qualcomm, Broadcom, and Mediatek.
Most of the smartphones and tablets powered by Intel have failed to
impress the consumers globally and
so in India. In India, Intel tried to experiment at all levels with traditional
as well as new vendors for the mobility solutions. But its efforts have
fallen short. The biggest reason of its
failure in the smartphone segment
has been its Atom processor which
the consumers believe to be low in
power as opposed to Qualcomms
Snapdragon. The company needs a
better branding to address this marketing issue.
Experts believe that the company
has the potential to outsmart the competition but has to carve a well-defined
path to gain handset manufacturers
confidence. In addition, the company
has not taken a powerful marketing
route to project itself as a favored chip
for handsets whereas Qualcomm and
others have. Its smartphone drive with
companies such as Orange, Lenovo
|
Clearly, Intel
Atom is not a
game changer,
and its failure to
manifest volumes
indicate that Intel
needs to come
out with radical
new innovations
and leverage
R&D much
effectively
2014-15
6,292
2013-14
6,412
-2%
and Xolo, etc, has not paid off.

However, Intel seems to go fairly
good in the Windows tablet space
where it has got its traditional partners and new ones launching 10-inch
devices with Intel chip. Its tablet is
thus a beginning for the future. While
it is a positive start for the company,
it needs to pay attention to this segment and invest in creating awareness
www.dqindia.com
amongst manufacturers. But one of

the innovative products launched with
Intel chip was earlier this year when
iBall launched a PC-on-a-stick for less
than `10,000. It can not only stream
media from the Internet to the TVlike
Google Chromecast and Teewebut
also support a mouse and keyboard
offering processing power comparable to tablet computers. Perhaps, the
company is waiting for such devices
to create ripples in the market that can
help it regain its market share.
The company was seen doing
a lot of things globally and went
ahead with a couple of key acquisitions that are aimed at strengthening its future margins. One of the
notable moves was the acquisition
of Altera Corp which it bought for
$16.7 bn. This acquisition is a right
move as it will strengthen its position in the server space. Although,
the server market is not in the best
of times at present, it is expected
to leave solution providers with high
margins. Intel seeks to make up for
slowing demand from the PC industry by expanding its line-up of higher-margin chips used in datacenters. By combining with Altera, Intel
will be able to bundle its processing
chips with the smaller companys
programmable chips, which are
used, among other things, to speed
up web-searches.
Intel in India, however, shares a
positive outlook from its datacenter
business and believes that the business will grow by 15% in the next
three years. The company is also
working on steps to support the
demand as the computing performance of the technology has to go
up. But Intel needs to focus on new
opportunities in the mobility space
which has not yet fared well for the
company.
July 31, 2015
63
the dq 20
Rank
Rank
0 2 0
HCL Infosystems
Restructuring
exercise
initiated
in FY14
continued
to adversely
impact the
profitability of
the company
in FY15,
with HCL
Infosystems
struggling
to regain its
position
2013-14
0 1 5
64
July 31, 2015
PREMKUMAR SESHADRI
Executive Vice Chairman & MD
Y15 was yet another

challenging year for
HCL Infosystems as the
company continued to
struggle to gain its foothold. HCL Infosystems
www.dqindia.com
revenue further declined this fiscal by

24%, slipping to `6,270 crore from
`8,218 crore in FY14, where its revenue had dipped by 26%. Much like
last year, the key reason for the companys degrowth can be attributed to
destabilization in the company owing

to major organizational and structural
changes.
In continuation with strategic changes introduced last year, HCL Infosystems in FY15 kept its focus on moving away its learning business from a
hardware driven asset-heavy model to
a content driven asset-light model. It
has also changed its focus on its systems integration business from growth
to disciplined execution of existing
projects. This restructuring necessitated the company to realign its business,
which is the key reason that has impacted the profitability of the company.
Another factor that continued to adversely impact its profitability was the
exercise of discontinuing its computing products business (HCL branded
PCs and tablets). Although the company had initiated this process in
FY14, it was still at the tail-end of this
exercise in FY15.
The company also saw some changes in the leadership front with Harsh
Chitale stepping down as the CEO and
Managing Director and Premkumar
Sheshadri taking over as the new MD.
Although the company continues to struggle on many fronts, the
structural changes are expected to
pay rich dividends in the long run. In
fact, the new strategy of HCL Learning, the companys learning business, has already started showing
results with the company winning
many noteworthy content deals from
reputed clients, including Bombay
College, Aditya Academy, CARACAL
Solutions, and D-Square Solutions.
The companys services business (consisting of enterprise and
consumer services) also witnessed
healthy growth backed by consistent business traction in India and the
overseas market. In the Middle East,
the services business acquired ma|
Premkumar
Seshadri to
usher in the
next phase of
transformative
growth of the
company as the
new Managing
Director
2014-15
6,270
2013-14
8,218
-24%

*HCL Infosystems follows the July to June FY
for its financial reporting but for the purpose of
parity we have taken revenues for the April 14
March 15 period
jor clients including the Ministry of

Health, UAE, and a leading telecom
operator in the Gulf region.
The companys enterprise distribution business too achieved good
traction by adding new partners like
Acer for projectors, Philips for largeformat displays and others across
the audio-visual, information secuwww.dqindia.com
rity, and server storage spaces. In

fact, the enterprise distribution business achieved a significant milestone
by crossing the `100 crore per month
mark in March 2015.
The company also witnessed robust growth for IMS (Infrastructure
Managed Services) and Care (consumer break-fix services) businesses.
Further, HCL Infosystems Consumer
Electronics & Home Appliances business also gained momentum due to
increase in its channel ecosystem and
coverage footprint. In Q2, the company registered an increase of 60% in
its number of distributors and dealers.
To revive its growth, the company is
entering into a slew of strategic alliances and partnerships. One of the major
announcements towards the end of
the fiscal was HCL Infosystems tie up
with Strontium, a PC and flash memory
manufacturing company. The partnership is poised to spur growth across
markets through various channels.
The company also extended its
engagement with Nokia India Sales
Private (a subsidiary of Microsoft Mobile OY) to distribute Microsoft Lumia
and Nokia first and feature devices
and accessories across India. HCL
Infosystems expects the partnership
to trigger significant business growth
and enable it to explore new channels to enhance its last-mile connect.
During the year, HCL Infosystems
also entered a strategic alliance with
Lenovo India. Under this partnership, HCL Infosystems will sell and
support Lenovos entire portfolio of
PCs and tablets, as well as enhance
its existing cooperation in the distribution of tablets, through its wholly
owned subsidiary Digilife Distribution and Marketing Services (DDMS).
The partnership is poised to trigger
growth and extend business for both
the companies.
July 31, 2015
65
The Next 30
RANK
COMPANY
PAGE NO.
RANK
COMPANY
PAGE NO.
21
Lenovo India
68
36
88
22
Savex Computers
69
37
Tata Technologies
89
23
Mphasis
70
38
Zensar Technologies
90
24
Syntel
72
39
Iris Computers
91
25
L&T Infotech
73
40
Apple India
92
26
Samsung India
74
41
CMC
93
27
Acer India
76
42
EMC India
94
28
Rolta India
77
43
NIIT Technologies
95
29
Mindtree
78
44
Asus India
96
30
Genpact
80
45
Compuage Infocom
97
31
KPIT Technologies
81
46
98
32
Rashi Peripherals
82
47
Canon India
99
33
CSC India
84
48
Lycos Internet
100
34
Vakrangee
85
49
101
35
Cyient
86
50
102
www.dqindia.com
July 31,2015
67
the dq 50
Rank
Rank
0 2 1
Lenovo India
Lenovo has
strengthened
its product
portfolio by
acquiring
IBMs x86
server
business
but needs to
synergize it
seamlessly
to target
greater
revenues
2013-14
0 2 2
68
July 31, 2015
AMAR BABU
Chairman
n FY15, Lenovo India is perhaps one of the few players in

the PC market that went on an
aggressive mode and enlarged
its mandates in this part of the
world. It expanded its PC business in India through government
deals and demand from tier-2 and -3
cities as the PC penetration is yet not
at a satisfactory level in upcountry.
In FY15, the company witnessed a
modest growth of 5%.
As against the previous year when
it did a good number of business with
various state governments for laptops, this year it witnessed a slow demand for laptops and PCs. However,
it continued its focus on the PC business betting big on the next wave
of PC consumption in India. Lenovo
hopes to get demand from tier-2
and -3 cities as users in these cities do not have exposure to laptops
or desktops but they are accessing
web on the go using their smart de-
www.dqindia.com
vices. The company strengthened its

product portfolio keeping in mind the
demand and configuration in vogue.
Not only notebooks, Lenovo unveiled
desktops including ThinkCentre M73
Tiny Desktop which is designed for
small workspaces.
The company is also putting a lot
of focus on its mobility business. Its
tablet business was a little tepid last
year compared to the smartphone
business.
In FY15, Lenovos biggest bet
was on IBMs server business which
it bought last year. It plans to tap a
considerable market in the enterprise
and government sectors. While Lenovo has bought only x86 business, it
is trying to strengthen its position in
the server market as well. Although,
most of the IBM customers shunned
Lenovo and moved to other vendors
such as Cisco, Oracle, HP, etc, the
company seems to have a wellthought roadmap to tap this segment
and complement its PC business.
Of late, the company has announced plans to start manufacturing
in India. While these plans are limited
to smartphones only, it is probable
that the company escalates these
plans to manufacture tablets and
other products later.
2014-15
6,020
2013-14
5,740
5%
Rank
Rank
0 2 2
Savex Computers
Savex
Computers
went
through
challenges
in FY15
because
of muted
growth
in the IT
hardware
market
2013-14
0 2 3
|
ANIL JAGASIA
Chairman and MD
n FY15, Savex Computers

faced growth challenges with
its growth rate sliding down
to modest 4%. The company
managed to clock revenue of
`5,905 crore against `5,678
crore in the last fiscal. With the distribution space struggling in the growing influence of eCommerce business in India, the companys story is
no different than its competitors.
Interestingly, Savex handles eCommerce stores for different companies
in India including HP and Samsung,
among others. The products ordered
on HPs website are delivered by
Savex. Thus, the key reason behind
its slow growth is sluggish demand
for IT hardware across the industry in
India and globally.
The company also had to face
problems with regards to Samsung
Indias eStore where it does not allow consumers to cancel orders once
confirmed.
www.dqindia.com
On a positive note, Savex was able

to bag a few contracts. Savex was appointed as a distributor for selling HP
products to DGS&D. It was also appointed a distributor for Samsungs
commercial TVs for the hospitality
industry. In addition, the company executed large orders of HP High Performance Computing (HPC) to educational and research institutes.
Savex Computers continues its efforts to strengthen its network across
the country as it is aware of the business opportunity available. During
the year, Savex Computers deployed
resources for expanding and growing
the enterprise business and invested
in a demo center. To keep the channel mood upbeat, Savex launched a
host of schemes. Besides, the company organized more than 100 events
during the year across the country to
increase customer engagement.
Savex also became the founding
member of the Technology Distribution Association of India (TDAI). To
gain back its growth momentum, besides enhancing its presence in the
channel community, the company
needs to deal with service and distribution challenges, as well as find
ways to counter the growing eCommerce threat.
2014-15
5,905
2013-14
5,678
4%
July 31, 2015
69
the dq 50
Rank
Rank
0 2 3
Mphasis
Mphasis
fails to
keep the
growth
momentum
going in
FY15, as
HP channel
business
and Digital
Risk
continue to
be a drag
2013-14
0 2 1
70
July 31, 2015
GANESH AYYAR
CEO and Executive Director
n stark contrast with its impressive performance in FY14,

Mphasis disappointed this time
with top line falling by about
3%. It had registered a 13%
growth in revenue in the previous fiscal backed by renewed demand for IT services in the advanced
markets.This time growth was thrown
off-track as both HP channel business and Digital Risk, the US-based
data analytics company it acquired
in 2012, saw a decline, resulting in a
below average performance.
Digital Risks performance suffered
largely due to headwinds in the US
mortgage market. The performance
of direct organic business was impressive though with some significant deal wins.
The years key highlights included
the launch of Mphasis Next Labs, a
strategic initiative by Mphasis to research and innovate on emergent
and future paradigms. Mphasis Next
www.dqindia.com
Labs focuses on emerging technologies including SMAC, IoT, and automation through applied research,
IP creation, thought leadership, and
new product, service, platform and
solution development.
FY15 also saw the IT services provider entering into key partnerships.
It partnered with Aureus Analytics to
bring advanced predictive analytics
and big data solutions to insurance
and banking players. The senior leadership also saw some movements
with Suryanarayanan V taking over
as the Chief Financial Officer.
In line with its Unleash the Next
theme, Mphasis also announced a
global partnership with Mendix, an
enterprise app Platform-as-a-Service
company, to deliver next-generation
application development services.
The company expects degrowth
in its digital risk business to come to
an end with the new deal wins. On a
darker note, the HP channel business
is expected to be on a decline for the
next few quarters and this is likely to
put pressure on the revenues in FY16.
Mphasis is hopeful that the momentum in the direct organic business will continue and its focus on
digital and application management
services space will pay off.
2014-15
5,806
2013-14
5,986
-3%
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Windows Phone
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400K COMMUNITY MEMBERS
VISUAL STUDIO PLATFORMS
100
2015 GrapeCity, inc. All Rights Reserved.
sales.india@componentone.com
+ INDUSTRY AWARDS
the dq 50
Rank
Rank
0 2 4
Syntel
In contrast
to a stellar
performance
in FY14,
Syntel
witnessed
a humble
growth of
7% in FY15
2013-14
0 2 5
72
July 31, 2015
NITIN RAKESH
CEO and President
yntel recorded an annual revenue of `5,586

crore in FY15, registering a YoY growth
of 7%. Compared to
the last three financial
years, wherein Syntel had witnessed a
growth rate of 29% (in FY14), 27% (in
FY13), and 21% (in FY12), the growth
rate witnessed a sharp decline. However, given the current market conditions, decline in the growth rate can
be justified.
Around 99% of the revenue was
bagged through exports while the
rest was through domestic markets.
Among the international markets,
Syntels 90% customer base lies
primarily in the US and Canada, followed by Europe (9%). The company
is gradually making its way in the
Australian (0.4%) and the South African (0.02%) markets.
Among verticals, BFSI sector at
36% held the lions share of the comwww.dqindia.com
panys customer base, followed by

retail, transportation, and logistics
(16%), and healthcare (15%).
The company added 27 new clients this financial year. It is placing
huge bets on its realignment strategy
and enabling its clients using traditional technologies to adapt to new
technologies.
One of the major announcements
was the creation of an internal group,
Digital One, with an aim to enable its
clients to achieve digital enterprise
transformations through smart adoption of mobility, cloud, social, big data
analytics, and Internet of Things. Syntel also announced the establishment
of a new delivery group called the
Managed Services Organization to industrialize run-the-business services.
Apart from this, the company
launched a new product SyntBots,
which automates infrastructure, application and UI elements across a
variety of platforms.
The major achievements marked
this year included recognition by
the International Association of
Outsourcing Professionals in The
2015 Global Outsourcing 100. It
was honored with a Special Commendation from the Golden Peacock HR Excellence.
2014-15
5,586
2013-14
5,210
7%
RAnk
Rank
0 2 5
L&T Infotech
Although
L&T
Infotechs
growth in
FY15 was
in line with
the industry
average, the
company
missed its
internal
target of
achieving
more than
20% growth
2013-14
0 1 9
|
VK MAGAPU
Managing Director
n FY15, L&T Infotech, the IT

services and solutions arm of
the engineering, procurement,
and construction major, posted a modest 13% growth. The
companys growth is the result
of its efforts in the existing markets
such as the US, UK, and Europe
which contribute 80% of its revenues.
While L&T Infotech grew at par with
the industry, it did not match its own
targets internally as it was poised to
grow more than 20%. It had even set
a target of achieving $1 bn revenues
globally, which it could not achieve.
However, the company boasts of
a robust pipeline for the coming
year that gives it the confidence of
achieving the $1bn revenue mark in
the ongoing fiscal.
Besides, the company is also inching closer to the IPO. According to
media reports, the company is willing
to roll out its IPO in mid-2016. Its IPO
plans are aimed at raising capital to
www.dqindia.com
strengthen its footprint in the existing

and new markets.
FY15 was a mixed year for the company since some of its key accounts
did not pay off well. Two of its accounts
from the energy and oil space had to
undergo challenges in FY15 which affected its growth and revenue targets.
Besides, there were other accounts
that continued to underperform.
To achieve its vision of becoming a
$1bn company in FY16, L&T Infotech
is working on growth strategies and
considering expansion. While it hunts
for new geographies, it is also focusing
on further strengthening its presence in
the US, UK and Europe, which are the
major contributors to its revenues.
Besides, it is equally focused on India especially it does not want to miss
the train on Digital India and smart cities. Because of its parent company,
it is hoping to jump into the fray and
bag some of the projects. Its efforts
have already started showing results.
It recently bagged a $10 mn contract
from Rail Vikas Nigam for process
modernization.
L&T Infotech is also extremely postive about the Middle East market,
which is expected to grow significantly. Its parent company is already working on projects worth $800 mn.
2014-15
5,480
2013-14
4,850
13%
July 31, 2015
73
the dq 50
Rank
Rank
0 2 6
Samsung India
While
heavily
focusing
on its
mobile
business,
Samsung
seems
to have
distanced
from its IT
business
2013-14
0 2 6
74
July 31, 2015
ASIM WARSI
VP, Mobile and IT
n FY15, Samsung India had

to face a lot of problems for
its IT business as it struggled
on every frontPC monitors, printers, notebooks, digital cameras, etc. The growth
was flat, with the company clocking
a revenue of `3,995 crore in FY15
against `3,950 crore in FY14, posting only 1% growth. The main reason
for the companys muted growth is
that it has deployed all its strengths
into building up infrastructuresales
and channelsaround smartphones.
This has put all other IT products in
the background.
It was only in the last quarter that the
company was able to receive growth
in the printer division. According to
CMR, Samsung, witnessing a continuous decline in shipments since 1Q
CY2014, turned around and recorded
a 58% QoQ growth in 1Q CY2015.
Unlike earlier years, the companys IT stable seems to have run out
www.dqindia.com
of steam. The problem is that the

company is seeking its future only in
smartphones.
Samsung realized what is missing
in its strategy only recently and went
on a restructuring spree. But the restructuring led to the exit of top people from the company causing further
damage to its business. Tarun Malik,
Director and Head of Digital Content,
Cloud and the Media Solutions Center, and Sandeep Bhushan, Director
of the go-to-market strategy, moved
out of the company in the process.
One of the biggest setbacks was on
the tablet front, when it lost #1 position to an Indian company iBall which
topped the Indian tablet market in
the fourth quarter of 2014, as per
IDC report. iBall had the maximum
market share with 15.6% followed by
Samsung (12.9%), Datawind (9.6%),
Lenovo (9.4%), and HP (8.7%) while
others had 43.8%. This clearly meant
that Samsung was no longer a favored brand in the tablet space.
While Samsung has been too inclined towards its mobility business
for a few years now, it is important that it pays equal attention to
strengthen its IT business which has
the potential to yield long-term and
sustained growth.
2014-15
3,995
2013-14
3,950
1%
the dq 50
Rank
Rank
0 2 7
acer India
Changes
introduced in
the last fiscal
to increase
market
penetration
have
enabled
acer to
maintain
its foothold
in the
competitive
segment
2013-14
0 2 7
76
July 31, 2015
HARISH KOHLI
Managing Director
n FY15, Acer registered a marginal growth, primarily on account of organizational changes

it introduced in the last fiscal.
The company in FY14 had segregated its operations into two
separate SBUscommercial business unit and consumer business
unit. As a strategy, Acers commercial
business unit continued to focus on
the BFSI, government, and education
sectors. SMBs and corporates were
new areas of focus.
The consumer business unit asserted on extending the reach in
smaller cities and towns. As a step
to increase business volumes, Acer
also tied up with reputed eCommerce
players and launched exclusive products/models. R13, ICONIA Windows
Tablet, and Switch are a few products
launched by the consumer segment
that received good response.
Acer also continued its strategy of
aggressive social media marketing;
www.dqindia.com
with over 1.5 mn fans on Facebook

and over 6,500 followers on Twitter,
Acer has become one of the biggest
social media players in the category.
In fact, this year it went a step further
by doing an exclusive social media
launch for its product ICONIA Windows Tablet.
In the government sector, Acer
holds a market share of 18.92%, as
per IDC. In FY15, it witnessed major wins from the state governments
of Tamil Nadu, Karnataka, Orissa,
UP, Rajasthan, Assam, Kerala, and
Haryana. It also participated and
saw some good wins under the central and the PSU segments through
DGS&D and National Informatics
Center Services contracts.
With 26.28% market share, Acer
ranks number two in the education
segment, as per IDC. This year, it saw
some major wins in higher education
institutions including Anna University,
RGUKT, VTU, NIT Hyderabad, NIT
Trichy, IIT Guwahati, IIT Patna, IIT
Roorkee, IIIT Bangalore, Tripura University, and Kurukshetra University.
Cashing in on the RBI guidelines,
Acer pitched in for refresh and replacements at PSU and private
banks and also witnessed good wins
in the BFSI segment.
2014-15
3,692
2013-14
3,602
2%
RAnk
Rank
0 2 8
Rolta India
After a stellar
show in
FY14, Rolta
continues
to head
strongly on
the growth
trajectory
with yet
another
year of
impressive
top line
performance
2013-14
0 2 9
|
KAMAL K SINGH
Chairman & MD
olta India had witnessed momentous

growth in FY14 with a
whopping 55% surge
in top line, with the
company receiving
some patents it had applied for in the
US. The momentum was well sustained through FY15 as well, as the
Indian IT solutions company clocked
a solid 18% growth in revenues, this
time backed by its strategy to transform its business model to an IP-led
one. The demand for IP-led solutions
for big data analytics as well as traditional applications helped it gain traction in new verticals and geographies.
In FY15, Roltas focus primarily
revolved around enhancing its software products and developing new
solutions. To add strength to its strategy, the company hired senior managers and subject matter experts in
all geographies, especially at all the
development and R&D centers. With
www.dqindia.com
the US market seeing signs of revival, Rolta has invested judiciously

in strengthening its management and
consulting team in North America.
The company continued to see
traction in BI/big data analytics with
new opportunities for Rolta OneView
and increasing potential for expanding current engagements coming up.
In FY15, Rolta was also engaged by
clients in transportation, chemicals,
and utilities.
Roltas defence business is increasingly gaining strength. A major
win in FY15 was the Ministry of Defences (MoD) development agency
order for the Battlefield Management
System (BMS) project, (which the
company jointly bagged with BEL)
worth over `50,000 crore.
The company has been significantly investing in BMS technologies
and the order will act as a shot in the
arm. It also won a multi-million dollar
additional scope of work by Sadara
Chemical Company to implement a
comprehensive engineering information system. It will also be looking at
enhancing its capabilities in R&D and
product development. In the coming
years, the company expects to see
greater contribution from IP-licensing
and related annuity revenues.
2014-15
3,679
2013-14
3,114
18%
July 31, 2015
77
the dq 50
Rank
Rank
0 2 9
Mindtree
FY15 was
yet another
rewarding
year for
Mindtree as
it registered
above
average top
line growth
with digital
being the
key driving
force
2013-14
0 3 0
78
July 31, 2015
KRISHNAKUMAR NATARAJAN
CEO and Managing Director
mid all the uncertainties prevailing in

the global economy,
Mindtree has put up
a really impressive
show over the last
couple of years. And with nearly 17%
jump in revenues in FY15 as compared to the previous fiscal, it continues to head on the growth trajectory.
Increase in worldwide IT spends, favourable currency movements, and
higher operational efficiencies were
the key factors driving its growth.
The companys expanding focus
on digital business has started paying off well, with significant 33% of
the revenue coming in from there.
Amongst geographies, advanced
economies, primarily US and Europe
showed growth momentum, while
there was a slowdown in the emerging markets as compared to the previous year. US and Canada continue
to be the most significant markets for
www.dqindia.com
Mindtree, accounting for nearly 62%

of the total revenues, while BFSI remains the top vertical holding about
24% share.
Another major highlight was the
acquisition of Discoverture Solutions,
a move that is expected to beef up
its presence in the insurance space.
Mindtree continues to invest in enhancing the physical infrastructure to
support its new business initiatives.
Mindtree Kalinga, its new global
learning and delivery center in Bhubaneshwar, which is also said to be
the companys largest investment till
date, became operational in the last
quarter of FY15.
With renewed interest from IT services buyers, 2015 also saw Mindtree
bagging some key contracts. The
prominent ones include the deal with
ING Vysya as its strategic digital partner and the one with Kelloggs to manage its digital marketing operations.
Going ahead, the IT services provider will be focusing on innovative
business models and vertical-focused investments around digital.
Mindtree is confident of continuing
its growth run in FY16 backed by its
strong fundamentals and new digital
initiatives.
2014-15
3,547
2013-14
3,032
17%
Rashi Branches : WEST : Ahmedabad - 27430080, Ahmednagar 9594994879 , Amravati - 9004600147 , Aurangabad - 9594994875, Baroda 9824499746, Bhopal - 4046148,Goa - 9004600130, Indore - 2528056, Jabalpur - 4085864, Jalgaon - 9004600148 , Kolhapur - 9004600129,
Mumbai - 40471481,Nagpur - 6617998 / 3297998, Nashik - 9594994878, Pimpari - 9552557186, Pune - 41404512, Raipur - 4018120, Rajkot 9824499773, Sangli - 9004600131, Solapur - 9594994873, Surat - 9824499772, Vashi- 9004600083 SOUTH : Bengaluru - 22534202 / 22225800,
Calicut - 4023614, Chennai - 28362881/82/83, Cochin - 4120202, Coimbatore - 2495699, Hubli - 2213777, Kottayam - 3012229, Madurai - 4376361,
Mangalore - 2225208, Mysore - 9945044900, Pondicherry - 0413 2242050, Rajahmundry - 9848494781, Secundrabad - 27721296,Trivandrum 3043000, Vizag - 2717916, Vijaywada - 6662166 NORTH : Chandigarh - 5072648/49, Dehradun - 09359532515, Gaziabad - 09311586501,
Gorakhpur - 09389602506, Gurgaon - 4084860, Jaipur - 3223171, Jammu - 2434077, Jodhpur - 9829955020, Jhansi - 09389602509, Lucknow 2205368/9, Ludhiana - 5015686, Meerut/Noida - 09311586502, New Delhi - 46609900 / 01, Parwanoo - 234303, EAST : Bhubaneshwar 2544546, Durgapur - 9836188802, Guwahati - 2466704, Kolkata - 40011603/04, Patna - 2222961, Ranchi - 2330276, Siliguri - 2525646
the dq 50
Rank
Rank
0 3 0
Genpact
Faced
with global
market
problems,
where it
depends
on large
customers,
Genpact
managed
to clock a
single-digit
growth
2013-14
0 2 8
80
July 31, 2015
NV TIGER TYAGARAJAN
CEO
Y15 did not fare

well for Genpact as
it did not see substantial growth in its
revenues. Its growth
reduced to 6% from
20% in FY14. The company had to
undergo a lot of challenges, especially in the US and European markets. Genpacts slow growth does
not come as a surprise as most of
the Indian services companies had
this experience. The company did
not see any uptake in new contracts and had to struggle to grow.
In FY15, Genpact closed its acquisition of Pharmalink Consulting.
The acquisition certainly helped the
company to enhance its presence in
the pharma sector globally. Genpact
also added a new division to its operationsGenpact Pharmalink Global Regulatory Affairsto tap the life
sciences and pharma sectors. Genpact Pharmalink Global Regulatory
www.dqindia.com
Affairs combines Pharmalinks specialized domain expertise in consulting, project support, and outsourced
regulatory affairs services with Genpacts global delivery, BPO, technology, and analytics offerings for the
life sciences market.
GE still accounts for 20% of its business, whereas other global customers
contribute close to 80% to its business. Its income from GE decreased
by 2.4%, which had a direct impact on
its business. Through its acquisitions
from time to time such as Headstrong
and Pharmalink, the company has
tried to diversify and expand its presence in different sectors.
Genpact is focusing on increasing the number of clients to tap the
emerging markets. The companys
CEO NV Tyagarajan earlier announced that Genpact had made
disciplined investments in its targeted verticals, service lines, and geographies. The company is also investing in building domain-led solutions
to leverage on the tech trends across
verticals.
Genpact generated $272 mn of
cash from operations in 2015. The
company is looking at a healthy year
ahead based on its robust customer
pipeline.
2014-15
3,320
2013-14
3,138
6%
Rank
Rank
0 3 1
kPIT Technologies
The IT
services
provider
managed to
post doubledigit growth
despite
economic
uncertainties
and
challenges
in the ERP
business
2013-14
0 3 4
|
KISHOR PATIL
CEO & MD
iscal 2015 proved to

be a mixed year for
KPIT Technologies; although the company
witnessed significant
traction in the products and platforms space, its ERP
business faced challenges. Despite
challenges, the company was able
to clock 11% growth, with its overall
revenue standing at `2,990 crore as
compared to `2,694 crore last fiscal.
FY15 was also a crucial year as it
was the first full year post its organizational restructuring and formation
of new business units.
KPIT witnessed significant growth
in the products and platforms space
with the Intelligent Transportation
System (ITS) revenues touching `113
crore for the whole year.
The thrust on digital seems to be
building up as digital technologies
contributed to around 12% of the total revenues. The company expects
www.dqindia.com
this share to move up substantially in

the coming years. It is sensing significant opportunities in the IoT space
and is looking at tapping this market
by focusing on R&D and innovation.
Amongst customer accounts,
Cummins declined by 0.6% while the
top 5 and top 10 customers declined
by 9.2% and 2.5% respectively. Vertical wise, energy and utilities was the
highest growing vertical with 45.5%
growth, followed by automotive and
transportation with 15.4% growth. In
terms of geography, APAC with 44%
registered the highest growth followed by Europe at 20%.
Additionally, the company also
worked with the Government of India
and industry to complete the regulatory framework and the incentive
framework for electric mobility.
The company attributed unpredictable macro-economic conditions like
currency movements and turmoil in
the energy vertical due to lower oil
prices, and periodical revenue fluctuations as major factors impacting
business negatively. Going ahead,
KPIT plans to invest in the right
growth areas, mainly products, consultative front-end, engineering, and
digital transformation to get back its
growth momentum in FY16.
2014-15
2,990
2013-14
2,694
11%
July 31, 2015
81
the dq 50
Rank
Rank
0 3 2
Rashi Peripherals
Banking on
its strong
partner base
and product
portfolio, the
IT distributor
delivers a
spectacular
show again
with a
whopping
36% growth
2013-14
0 4 4
82
July 31, 2015
SURESH PANSARI
CEO
Y15 proved to be a
rewarding year for
Rashi Peripherals, with
the company further
climbing the growth
ladder. Mumbai-based
distributor not only kept the growth
momentum going but was able to
surpass it last fiscals growth rate of
23% with 36% this fiscal. In the highly competitive IT distribution space,
Rashi has been growing consistently
with a CAGR of 29% for the last 10
years. In fact, it is listed in the elite
club of top five distributors of the
country.
As Rashi continues to diversify its
mobility business, it hasnt diluted
its attention towards the component
and peripherals business. The companys growth is backed by its network of branches comprising of 51
offices and 56 service centers and
billing to almost 10,000 partners in
800 towns of India.
www.dqindia.com
As a part of its strategy, the company is focused on adding more

branches and has already forayed
into Agartala, Srinagar, and Calicut.
The company is also concentrating
on further strengthening its channel
network and partner base.
The company is a distributor of
leading brands, including AMD, HP,
Intel, Logitech, Lenovo, Leadtek,
Micron, Mobotix, Netgear, Nvidia,
Plantronics, Sandisk, and Toshiba.
One of the major highlights for Rashi
this year has been the addition of Apple and Google in its brand portfolio.
The company has been able to
maintain equilibrium in all its five key
divisions including components, peripherals, PC, networking, and communications.
The year also witnessed the company bagging some awardsRashi
won the Top Distributor Award by
Intel in the desktop CPU category.
Further, it was awarded as the Top
Business Partner of the Year 14-15
by Lenovo India in commercial.
The company is eyeing huge potential in cloud technology and plans
to have a separate vertical for cloud.
Outlook for FY16 for Rashi also looks
positive, given its strong portfolio and
reach.
2014-15
2,984
2013-14
2,197
36%
the dq 50
Rank
Rank
0 3 3
CSC India
CSC
manages
to pull off a
single-digit
growth in
India due
to higher
demand
for cloud
infrastructure
and cloudhosted
applications
in the country
2013-14
0 3 2
84
July 31, 2015
SREEKANTH K ARIMANITHAYA
MD & Head, Human Resources
he fiscal gone by has

not given CSC India enough reasons
to celebrate, as the
growth was stagnant.
As per our estimates,
the company, which employs nearly
19,600 employees and serves over
400 clients in India, ended FY15
with the revenue of `2,961 crore as
against `2,875 crore in the last fiscal.
Though the company faced decline
in the global market, still it managed
to show a single-digit growth, ie, 3%
in the Indian market. According to
some reports, the Indian IT services
market grew 7.1% to reach $7.7 bn
in 2014, helped by higher demand for
cloud infrastructure and cloud-hosted applications, and a renewed focus
on infrastructure projects. This is one
of the key reasons which accounted
for its growth in India.
This year, CSCs board of directors unanimously approved the an-
www.dqindia.com
nouncement of a plan to separate

CSCs North American public sector
business into an independent publicly traded company (CSC-US Public
Sector), the shares of which would be
spun off in a distribution to holders of
CSC shares on the record date.
After the separation, CSC would
focus on serving commercial clients
globally and public sector clients outside the United States.
The latest reports also say that
Indian information technology companies, including Wipro and HCL
Technologies, could bid for CSC if
the US-based IT company splits its
public sector and commercial operations before putting itself up for
sale.
Globally, CSC has infrastructure
business contributing 35% to its top
line while global business services,
including application services and
consulting, account for 34% while
the North American public sector
brings the remaining 31%.
The year also saw CSC forming a
strategic partnership with HCL Technologies to address the substantial
market opportunity created by the
need for enterprise clients to modernize their applications and transition to the cloud.
2014-15
2,961
2013-14
2,875
3%
Rank
Rank
0 3 4
Vakrangee
With the
Indian
government
aggressively
pushing
digital
agenda,
Vakrangee
has
emerged as
a key player
with its huge
network
2013-14
0 4 8
|
DINESH NANDWANA
Chairman and Managing Director
riginally an eGovernance player, Vakrangee has now diversified into financial

inclusion. The company has started
reaping rich dividends with this business move. With staggering 41%
growth, the company had a remarkable year in FY15 as its revenues rose
from `1,965 crore in FY14 to `2,775
crore this year.
Post the launch of Pradhan Mantri
Jan Dhan Yojana, there has been a
strong push from the banks to expand their business correspondent
network not only in rural but also in
the urban areas. The company is leveraging this growth opportunity and
there has been a strong ramp-up in
the companys urban branches from
15 in March 2014 to 1,253 urban
branches in December, 2014.
In addition to Maharashtra, Rajasthan, and Delhi, where Vakranwww.dqindia.com
gee had signed common Business

Correspondent (BC) agreements
with 31 banks, the company will
now be setting up and managing
BC branches in 12 more states
across India. The company has
been appointed as the National
Business Correspondent for banks
like the Bank of India, Punjab National Bank, State Bank of India,
Union Bank, Allahabad Bank, etc.
By 2017, the company plans to set
up and manage 50,000 branches
(35,000 rural and 15,000 urban)
across 16 states under common BC
and national BC agreements.
The company has also received a
license from the RBI to set up and
manage minimum 15,000 White Labeled ATMs (WLAs) across India over
the next three years. The company
has a huge opportunity as more than
65% of Indias population is still unbanked.
With more and more services coming under the digital agenda, Vakrangee is expected to witness further
growth. The company is extremely
bullish over this business and expects the outlets to contribute close
to 80% of its total business in the
next 3-4 years.
2014-15
2,775
2013-14
1,965
41%
July 31, 2015
85
the dq 50
Rank
Rank
0 3 5
Cyient
Backed
by strong
growth across
industry
segments and
geographies,
Cyient
demonstrated
improvement
in all financial
metrics
2013-14
0 4 3
86
July 31, 2015
BVR MOHAN REDDY

Chairman
Y15 proved to be a rewarding year for Cyient

(formerly Infotech Enterprise), a provider
of engineering, data
analytics, network, and
operations solutions, as it continued
its growth momentum and delivered
strong performance with revenue
growing 24% and net profit increasing by 33% on a YoY basis.
The companys good performance was backed by strong growth
across all industry segments and
geographies. In terms of geography,
Americas led the growth at 31% followed by EMEAI at 15%. The companys communications industry
business had a good fourth quarter
as it grew by 5%, driven mainly by
the APAC region which grew in excess of 20% over the quarter. To
strengthen its position as a solution
provider around the core services
in the communications and utilities
www.dqindia.com
industries, the company focused on

mobile workforce management solutions, service management and assurance solutions, remote network
configuration, etc.
The companys engineering business also continued to witness robust growth throughout the year, with
the Americas region leading the overall growth.
During the course of the year,
Cyient completed three acquisitions,
including Softential, Invati Insights,
and Rangsons Electronics. Acquisition of 74% stake in Rangsons
Electronics, and its wholly owned
subsidiary Techno Tools Precision
Engineering was in line with the companys strategy of addressing the
entire product lifecycle needs of its
customers. The company is eyeing
strong value proposition by combining Cyients engineering capabilities
with Rangsons product realization
capabilities.
Going forward, the company will
continue to focus on SEZ deployment strategy and optimizing its cost
infrastructure. Cyient is also focused
on strengthening its product realization services and is working actively
to establish a world-class product realization lab.
2014-15
2,736
2013-14
2,206
24%
the dq 50
Rank
Rank
0 3 6
Focused
strategy of
targeting
large
accounts and
strengthening
relationship
with existing
clients has
helped the
company
clock robust
growth
2013-14
0 3 8
88
July 31, 2015
ATUL NISHAR
Chairman
exaware Technologies
reported healthy performance for FY15,
posting an increase in
revenue by 14%. The
companys
revenue
stood at `2,706 crore as against last
fiscals `2,367 crore. One of the key
factors that was responsible for this
growth was a focused strategy to get
more wallet share out of the companys
existing clients. The company strengthened the account management teams,
and increased the number of pre-sales
consulting people in key accounts.
This strategy paid off, and the companys top five customers grew at 7.5%
and top 10 grew at a rate of 4.8%.
In addition, there has been a focus on large deals, with large accounts being sourced regularly in
infrastructure management services
and legacy system modernization.
The company added 43 new clients
for the fiscal.
www.dqindia.com
During the year, the company also

announced the launch of its manufacturing vertical and its HCM service
offering.
The company also witnessed
good momentum for its Workday
practiceit has an advantage, as
it is the only Indian origin support
partner for Workday. Hexaware is
also betting big on digitization. For
example, in the insurance industry,
a huge number of customers are
modernizing their claims and policy
management platforms and one
of the significant portions of work
is around migrating data from the
old platforms to new platforms. As
Hexaware has a solution that dramatically reduces the time, effort,
and improves the accuracy of data
migration, it is witnessing significant
traction in this space.
From a customer vertical point
of view, the BFSI sector is the largest followed by manufacturing. Other
sectors such as travel, transportation,
and healthcare and insurance are approximately similar in size. Hexaware
has an aggressive strategy of adding
freshers and the company substantiated this by adding 1,266 freshers
during the fiscal. The total headcount
stood at 10,100.
2014-15
2,706
2013-14
2,367
14%
Rank
Rank
0 3 7
Tata Technologies
Tata
Technologies
continues
to chase its
dream of
becoming
a $1 bn
company in
the next few
years
2013-14
0 3 7
|
WARREN HARRIS
CEO
ata Technologies registered a modest 10%

growth in FY15. The total income of the company aggregated at
`2,644 crore as compared to `2,395 crore in fiscal 2014.
The biggest contributor to Tata
Technologies revenue is the European Union which accounts for `1,072
crore. The company continues to
perform better in the manufacturing
domain which is its major forte and
gives it most customers. During the
fiscal, the lions share of the companys business came from clients
in the automotive sector (roughly
65%), 12% from the aerospace and
defense sector, and approximately a
quarter of its revenue from the industrial machinery and other sectors.
In the fourth quarter, the company
announced plans to augment and accelerate its organic growth with $250
mn in acquisitions over a period of
www.dqindia.com
two to three years. The company also

made a cautious, deliberate entrance
into the Brazilian market during the
fiscal and continued working on establishing a foothold in China.
Tata Technologies also witnessed
a change in leadership as it promoted
Warren Harris to CEO and Managing
Director in September after Patrick
MacGoldrick retired. Harris is putting
more focus on enhancing the companys global presence and increasing
revenues from different markets.
Tata Technologies further strengthened its position as a provider of
unique professional services and
products to support and enhance
Siemens PLM offerings including
design and engineering, consulting
solutions, and help desk. Tata Technologies increased its customer base
for the full suite of Siemens PLM
solutions, including NX CAD/CAM,
Teamcenter, Solid Edge and Femap,
among others. As a result, Siemens
PLM recognized Tata Technologies
as a platinum partner.
Tata Technologies has been dreaming of being a $1 bn company for the
last few years but it does not seem to
reach its goal. However, it continues to
hope for good days as the manufacturing industry picks up pace this year.
2014-15
2,644
2013-14
2,395
10%
July 31, 2015
89
the dq 50
Rank
Rank
0 3 8
Zensar Technologies
Zensars
double-digit
profitability
in FY15
was driven
by strong
growth in core
markets and
significant
traction in the
companys
applications
business
2013-14
0 3 9
90
July 31, 2015
GANESH NATARAJAN
Vice Chairman and CEO
n FY15, Zensar Technologies

did reasonably well and posted
a revenue growth of 13%. The
companys three major geographies US, Europe, and Africa
reported strong growth in constant currency revenue for FY15.
The companys strategy of focusing on new client acquisitions and
strategic deals in core markets has
started showing results and led to
some good wins. FY15 particularly
proved good for the company as
Zensar added 11 new logos to its
customer portfolio.
Zensars applications business
saw significant traction across the
US and Europe and clocked 24%
growth in FY15, with both the custom
and package applications business
doing well. The company in the year
bagged new business worth nearly
`190 crore in its application management services business.
One of the key highlights this year
www.dqindia.com
for the company was the acquisition

of Professional Access in the first half
of the fiscal. The move proved profitable as Professional Access exceeded its profit targets for the year, thus
contributing to Zensars Digital and
eCommerce business, which stands
at 13% of its revenue.
The companys conscious focus
on increasing dual shore services
with existing and new customers has
boosted its Infrastructure Management (IM) portfolio. Overall, the dual
shore services business witnessed
a growth of 11% over FY14. Zensar
Technologies also won several significant deals in the US for IM managed
services business. The company
continues to focus on hybrid cloud
integration, end-user experience
management, multi-vendor support,
and managed security solutions, and
is betting big on them as key drivers
of growth for the infrastructure business.
Over the past five years, Zensar
has maintained a strong revenue
growth trend, growing at a CAGR
of 23%, which is higher than the industry growth average. With a strong
deal pipeline, the outlook for FY16
for the company also looks extremely
positive.
2014-15
2,628
2013-14
2,316
13%
Rank
RaNk
0 3 9
Iris Computers
The IT
distributor
pulls off
a stellar
performance
of 36%
revenue
growth in
FY15, backed
by expanding
partnerships
and strong
momentum
across all
brands
2013-14
0 4 6
|
VISHAL SOPORY
CEO
ris Computers not just sustained the growth momentum

of last year, but accelerated it
with a stellar performance this
time, clocking 36% growth in
revenues in FY15. Last year,
the company saw a surge of 17%
in its revenues. Iris is a distributor of
computer systems and peripherals,
from leading OEMs like IBM, Lenovo,
HP, Canon, Dell, and so on. The good
show in FY15 was backed by impressive gains across all the brands.
During the year, some large orders
ranging from government enterprises
to large corporations helped drive
growth.
Delhi-based IT distributor has
formed a strong presence across
the country working with more than
2,500 channel partners through its
35 locations. In FY15, a key highlight
was some large brands like BENQ,
Philips, Huawei, and LG joining
hands with the company to leverage
www.dqindia.com
its relationships with its commercial

enterprise channel partners.
The partnership with Dell for distribution of the companys enterprise
and end-user products and solutions
was another feather in the cap for Iris
which is looking at further strengthening its partner network.
Its acquisition by Inflexionpoint in
2013 was a major event that fueled
new growth aspirations for the company. Post the acquisition, the distribution business has witnessed major
growth signs. This year Inflexionpoint
embarked X10 Financial Services, a
new venture to tap the opportunity
of channel financing to the partners
in the supply chain industry through
the wide network of branches of Inflexionpoint subsidiaries across the
country. Iris is working closely with
X10 to finance its partners.
With its sound financial backup,
the IT distributor is poised to compete with big names like Ingram Micro and Redington. It has set a target
of becoming a `6,000 crore company
in the next three years. A new internal
strategy and optimal resource utilization is expected to set the stage for
change as it moves towards its aim of
being amongst the top three national
IT distributors by 2016.
2014-15
2,573
2013-14
1,893
36%
July 31, 2015
91
the dq 50
RAnk
RAnk
0 4 0
Apple India
Apple
continues
to grow
exponentially
in India with
about 40%
jump in
revenues.
Its extended
channel has
helped the
company to
improve its
reach
2013-14
0 5 1
92
July 31, 2015
MANEESH DHIR
Sales Head
Y15 turned out to be

a great year for Apple
India as its consolidated revenues touched
$1 bn. Its revenues for
its MacBook and iPad
business also registered a substantial growth of 40%. Apples revenue
garnered through the sale of iPads,
Macbook, and iMac business stood
at `2,560 crore as against `1,823
crore the previous year.
Apple didnt take India seriously in
the early years, but now, the country
is turning out to be a judicious bet.
According to CMR, the company
sold 1.3 mn handsets in the country in the last fiscal as against 9.28
lakh the previous year. In the fiscal,
the company launched iPad Air 2
and iPad mini 3, which witnessed
an overwhelming response and high
adoption in the country.
In recent years, Apple tablets have
seen a lot of traction in the corpowww.dqindia.com
rates in India as they are becoming

mainstream among the salesforce. In
addition, the revenue model through
its app store helps the company to
add to its turnover.
The company is focusing on aggressive marketing campaigns to
further strengthen its foothold. The
company shows a lot of promise in
FY16 and is expected to capture
more market share.
Apple has increased its footprint
in the major cities through its own
outlets which helped the company to
garner more sales.
Apple, however, understands the
criticality of increasing its retail presence in India to achieve further landmarks in iPad and iPhone sales. Thats
why the company has signed a deal
with a fifth Indian smartphone distributor, Optiemus Group. Apple has taken
a multi-distributor approach to tap a
diverse market like India.
The four existing distributors include Redington, Ingram Micro,
Rashi Peripherals, and Brightstar.
Apple has given Samsung a tough
competition in the smartphone race
and is expected to emerge as the
leader in the coming few years. However, combined Android market is still
far bigger than Apple.
2014-15
2,560
2013-14
1,823
40%
Rank
Rank
0 4 1
CMC
CMC had
an eventful
FY15, key
highlights
being the
revenues
crossing
`2,500
crore
milestone
and its
merger with
the parent
company
TCS
2013-14
0 4 2
|
R RAMANAN
Chairman & CEO
he major event for CMC

in FY15 was its merger
with its parent company TCS. The amalgamation is expected
to further strengthen
CMCs position by enhancing its
reach and improving market penetration for its solutions and capabilities.
It was also a prominent year for the
company for yet another reasonit
crossed `2,500 crore revenues milestone in FY15. With an impressive
overall performance, it registered a robust growth of 13% in the top line as
compared to the previous year, with
revenues standing at `2,513 crore.
The strong performance was
backed by the companys ability to
attain broad-based revenue growth
across geographies. CMCs growth
can be primarily attributed to its customer-centric approach and a balanced portfolio of integrated services
and solutions in niche areas to variwww.dqindia.com
ous businesses. Over the year, the

company added 63 new customers
across the world. The positive impact
of the companys strategy was seen
in its revenue, which went up by 14%
for the international market and 10%
for the domestic market.
The Systems Integration (SI) segment has been the main contributor to the revenue this time with an
impressive 17% revenue growth
over the previous fiscal, which was
followed by the Customer Services
(CS) segment. Also, the companys
software solutions and offerings in
embedded systems have found increased traction in the Middle East &
Africa and European markets.
A key highlight this year was the
setting up of a new SEZ facility at its
Hyderabad campus, which is spread
over about 46.33 acres.
This year also saw some changes
at the board level. S Ramadorai,
Chairman of CMC stepped down
as Director and Chairman while the
Board of Directors inducted N Chandrasekaran, CEO and MD of TCS, as
the Director of CMC.
Moving into FY16, CMC will continue
its thrust on expansion and will focus
on exports of its services by leveraging
wide marketing reach of TCS.
2014-15
2,513
2013-14
2,231
13%
July 31, 2015
93
the dq 50
Rank
Rank
0 4 2
EMC India
While EMC
grew at 15%
in FY15, it
is expected
to enhance
its growth in
the ongoing
year on
account of
improved
market
sentiments
and its
robust
pipeline
2013-14
0 4 5
94
July 31, 2015
RAJESH JANEY
President
MC India registered
healthy growth of 15%
in FY15 as the company saw robust buying
across verticals. The
company
witnessed
renewed interest in enterprises as
most of its customers invested in four
powerful trendsnamely, social networking, mobile, big data analytics,
and cloud computing (SMAC).
The storage giant worked in its
federation model that includes EMC
Information Infrastructure (EMCii),
VMware, Pivotal, VCE, and RSA. This
model helped the company gain customer confidence as the federated
model allows it to offer integrated solutions from its sister companies.
In FY15, the company continued
to invest in new solutions and technologies to keep customers interest
intact in its solutions. EMC launched
solutions for enabling customers in
their journey of hybrid cloud, softwww.dqindia.com
ware defined storage, as well as

launched a data lake solution. In the
storage space, the company placed
the biggest bet on flash storage and
launched XtremIO 4.0 all-flash array.
As a result XtremeIQ emerged as the
top-selling all-flash storage array, as
per IDC, and was named a leader in
the 2014 Gartner Magic Quadrant for
Solid State Arrays.
If IDC is to be believed, the company emerged as #1 external storage
player across all four quarters with
31% market share. Its storage leadership becomes apparent with key
customers such as the Govt. of India
(multiple projects including UIDAI,
NIC), TCS, ITC, KPIT, ICICI, BSNL,
Axis Bank, HSBC, Cummins, among
others. The company gained most
traction in verticals such as IT-ITeS,
telecom, and BFSI for FY15.
In EMCs success, its full-proof
channel strategy played a key role.
The company has successfully increased addressable market for
its partners with cloud computing,
backup and recovery systems, scaleout storage (Isilon), big data and analytics portfolio, in addition to its vast
storage product line. It has initiated
a 360-degree engagement with its
partners.
2014-15
2,452
2013-14
2,126
15%
Rank
RaNk
0 4 3
NIIT Technologies
Growth in
FY15 was
muted
primarily
due to
significant
decline in
the revenue
from the
government
sector
2013-14
0 4 0
|
ARVIND THAKUR
Chairman & CEO
s against robust 14%

growth in FY14, NIIT
Technologies
reported a humble 3%
increase in revenues
in FY15. Q1 was particularly disappointing for the company. The major reason that impacted the growth was reduced focus
on domestic government business,
which led to a decline by 38% over
the previous year. The company also
encountered client specific issues in
the US in the first quarter. Further,
currency headwinds in Europe also
impacted revenues.
After an initial setback in Q1, the
company reported steady improvement in both revenues and operating margins throughout FY15. In Q2,
NIIT experienced healthy expansion
in revenues in APAC and India on the
back of execution of large orders secured during the year, increasing revenue share from the region to 21%.
www.dqindia.com
Among geographies, the US expanded the most during the year

representing 44% of the revenue mix.
Growth in the US was a result of the
expansion of the business in the BFSI
segment. New customers in the US
were in the insurance and travel and
transportation segments whereas
APAC contracts were secured in the
manufacturing/distribution space.
The company also substantially
increased revenues in Infrastructure
Management Services (IMS) which
grew by 43%.
NIIT successfully executed and
implemented the Airport Operations
Control Center at Chennai Airport.
The project is a key initiative undertaken by the Airports Authority
of India to improve capacity utilization, passenger throughput, and key
stakeholder management for improved service.
Additionally, the company made a
foray into digital integration by signing an agreement to acquire a 51%
stake in Incessant Technologies.
In FY16, the companys agenda
will be focused around the expansion
of its business across international
geographies, scaling IMS revenues,
and building up strength in the digital
space.
2014-15
2,373
2013-14
2,305
3%
July 31, 2015
95
the dq 50
Rank
Rank
0 4 4
asus India
asus Indias
growth
was fuelled
by a welldiversified
product
portfolio
and a
strong retail
presence
across the
country
2013-14
0 5 2
96
July 31, 2015
PETER CHANG
Regional HeadSouth Asia
& Country ManagerSystem
Business Group
n FY15, Asus India continued

its growth momentum with substantial 25% increase in revenues. Its revenues zoomed to
`2,234 crore from `1,787 crore
in the last fiscal. The company
managed to post strong growth despite challenges in the PC market
primarily because of its healthy portfolio of devices in India which includes
notebook computers, tablets, desktops, etc. Presence in multiple product
segments acted as a cushion for Asus.
With India emerging as one of the
fastest growing markets for tablets
and notebook computers, Taiwanese technology firm is placing huge
bets on the country and has identified India as a high growth market. To
increase its market share, Asus has
been introducing products relevant to
the Indian market.
The company is also looking at
strengthening its retail presence and
expanding the exclusive stores to tierwww.dqindia.com
2 and -3 cities. In fact, it is looking at

adding 200 new exclusive stores in
2015. With its strategy of aggressive
retail expansion, the company is aiming to achieve 10% market share in
notebooks in India by the end of 2015.
Further, Asus is looking at setting up a
research and development lab in India.
Considering the governments push
on Make in India, the company is
also actively considering the scope of
manufacturing in India. With the new
government policies, the company is
seeing benefits in manufacturing devices in India.
The year witnessed the company
launch several new products across
segments. One of the products that
garnered incredible response was its
notebook, ASUS EeeBook. Key highlight for the company in the fiscal was
its foray into the smartphone market
in the country. The company is hopeful that a large part of its revenue
from India going forward will come
from the newly established smartphone vertical.
Looking ahead, the outlook for the
company in FY16 looks upbeat as it
is focused on broadening its offerings
across all computing devices. It is expected to give a tough time to rivals
in the space.
2014-15
2,234
2013-14
1,787
25%
Rank
Rank
0 4 5
Compuage Infocom
Compuage
Infocom
faced
the brunt
of slow
demand
and heavy
competition
in the IT
distribution
space with
its revenues
declining by
7%
2013-14
0 4 1
|
ATUL H MEHTA
MD
Y15 has not brought

enough reasons for
Compuage Infocom to
celebrate. The companys consolidated revenue witnessed a downfall to `2,129 crore as against `2,275
crore in the previous year, registering
a degrowth of 7%. This is in stark
contrast to the companys performance in FY14, where it had clocked a
robust growth of 16%. Consequently,
the companys position in our ranking fell from last years #41 to #45
this year. The dip in revenues can
be largely attributed to slow demand
and tough competition in the IT distribution space.
Over the years, Mumbai-based IT
distribution company has added top
brands in its portfolio, including Microsoft, Asus, Creative, EDIFIER, HP,
ADATA, Kingston, Samsung, Toshiba,
Linksys, Cisco, etc. With a vast
number of branches, the company
www.dqindia.com
has deep penetration in the country.

Compuage is focused on further expanding and strengthening its presence in the country and is aggressively looking at various tier-2 and -3
cities.
Considering the rising demand for
smartphones in India, the company is
betting big on telecom products distribution in the country. It is expecting
the business to spur its growth in the
coming years. The IT distributor is also
working on strengthening its partner
base to improve its market share and
get back its growth momentum.
During the fiscal, the company introduced some changes at the top
level and appointed Sunil Mehta as
the Chief Financial Officer.
As one looks ahead at FY16, the
IT distributor is likely to witness
growth in the coming fiscal given
its nationwide presence and strong
focus on improving the partner ecosystem. Further, Compuage continues to invest in infrastructure, reach,
and product portfolioall of which
should help the company yield positive results. That said, considering
that IT distribution is a heavily crowded space, the company should focus
on diversifying its portfolio to ensure
better margins.
2014-15
2,129
2013-14
2,275
-7%
July 31, 2015
97
the dq 50
RAnk
Rank
0 4 6

Texas
Instruments
India bounces
back as Asia
market sees
revival largely
driven by the
analog and
embedded
processing
segment,
which
currently
forms the
core of its
business
2013-14
0 4 9
98
July 31, 2015
SANTHOSH KUMAR
Managing Director
fter hitting a rough

patch in 2013, Texas
Instruments (TI) India
has bounced back
strongly this time.
As per DQ estimates
based on the overall companys performance in the Asia market, revenues went up by 9% in comparison
to the previous fiscal. The growth
momentum was led by the analog
and embedded processing segment.
The legacy wireless products segment, that was responsible for the fall
last year, continues to be a drag, yet
the strong upside in the analog and
embedded processing space was
more than enough to offset the decline this time.
The company has been taking up
restructuring initiatives in the last
couple of years and has also been
shifting its focus on more profitable
areas. This strategy continues as it
builds its strength in the analog and
www.dqindia.com
embedded processing business,

gradually moving away from legacy
wireless products. Analog and embedded processing together account
for around 83% of TIs global revenues, up from 79% in the previous
fiscal.
The cost saving actions TI (global)
had announced in January 2014,
which also involved the elimination of
1,100 jobs worldwide, is expected to
be completed sometime mid this year.
On the whole, the year was marked
with some innovative launches and
key partnerships worldwide as well
as in India. Texas Instruments (Global) unveiled TI Precision Labs,
known to be the electronic industrys
first comprehensive online classroom
for analog engineers. In India, TI partnered with Tech Mahindra to set up a
lab in Bengaluru around the Internetof-Things (IoT) concept.
Recently, it celebrated its 30th year
of operation in the country. The design and manufacturing company
continues to face tough competition
in the Asia market, especially from
niche and emerging companies that
serve the same markets. Yet, the
company believes that its diverse
product portfolio will offer an edge
over its competitors.
2014-15
2,110
2013-14
1,936
9%
Rank
Rank
0 4 7
Canon India
Canon
India could
not keep
its growth
momentum
due to low
demand
for printers
and digital
imaging
solutions
across
industries
2013-14
0 5 0
|
KAZUTADA KOBAYASHI
CEO
ost of the IT
hardware vendors especially
in the printer
business are witnessing a downward or stagnant trend in the market.
Canon India was no different since its
growth was reduced to merely 6% in
FY15. Its India revenues accounted
for only `2,026 crore against `1,910
crore last year. Canon just like other
printer players has seen a steep decline in demand for printers in the
market. Its printer business including
laser and inkjet, went through slow
demand in FY15. The company, however, tried to increase its range and
bet heavily on inkjet printers through
MFD devices.
The company launched several
market campaigns to spark animation into its channel and claimed
to penetrate further into the rural
markets of India. Canon focuses
www.dqindia.com
on multiple market segments of

consumer, SME, B2B, government,
and commercial. Canons product portfolio includes copier MFDs,
fax-machines, printers, scanners,
all-in-ones, digital cameras, DSLRs,
cinematic imaging products, camcorders, cable ID printers, and card
printers.
In FY15, Canon marketed over
200 contemporary digital imaging
products. It has 550 primary channel partners, 14 national retail chain
partners, and over 6,000 secondary
retail points. Canons service reach
went up to over 4,000 towns with
19 Canon camera service centers
and 41 printer Canon Care Centers.
Canon India also has 146 authorized
service centers for printers and 180
camera collection points.
Canon India in the fiscal witnessed a bit of restructuring as it
moved Alok Bhardwaj to a larger
role in APAC. The company did not
appoint anyone in his place. Canon
India MD is taking care of the India
operations.
Looking ahead, it has to look beyond its traditional business models
and create new revenue streams.
Plus, it has to re-evaluate its channel
strategy.
2014-15
2,026
2013-14
1,910
6%
July 31, 2015
99
the dq 50
Rank
Rank
0 4 8
Lycos Internet
Riding on
the strong
growth of
its digital
segment,
Lycos
Internet
delivered a
good show
in FY15
2013-14
0 5 4
100
July 31, 2015
SURESH REDDY
Chairman & CEO
ycos Internet, previously Ybrant Digital,

exhibited good performance
throughout
the year with revenues
going up by 17% over
the previous fiscal. The digital segment was a key driver, posting nearly
23% growth in revenues. With this,
its annual revenue at the end of FY15
stood at `1,957 crore and net profit
at `342 crore as against the previous
year revenue of `1,673 crore and net
profit of `221 crore.
Lycos is one of the most widely
known Internet brands in the world,
evolving from one of the first search
engines on the web into a comprehensive digital media destination for
consumers across the world.
The company this year launched
a new consumer products division
called Lycos Life. The division is dedicated to the future of communication and information management in
www.dqindia.com
which everyday objects will be connected to the Internet, also known as

Internet of Things.
The companys division LYCOS
Advertising has added marquee clients over the years, including MTV,
Samsung, Viacom, Maruti Suzuki,
Airtel, Sony, Coco Cola, Star India,
Vodafone, Samsung Electronics,
Lenovo, etc.
Its division LYCOS Media offers
tools for blogging, web publishing
and hosting, online games, email,
and search. During the second quarter, the media division added direct
publishers to its portfolio. Some of
the key ones included Daily News,
which is one of the top US news
magazines; MyFoxTV, an entertainment website; and Medula Networks,
a media house that operates major
websites across Latin America.
The company also signed a deal
with Yashi, a platform focused on
programmatic video advertising on
large-players, targeting the geographies US, UK, Canada, and Australia.
In FY16, Lycos outlook looks positive and it is expected to launch two
products that will simplify the way
people leverage Internet for their daily use.
2014-15
1,957
2013-14
1,673
17%
Rank
Rank
0 4 9
For FY16,
Supertron
is eyeing
25%
growth
and is
targeting
to reach
the `2,500
crore
milestone
2013-14
0 5 9
|
VK BHANDARI
MD
ontinuing its double-digit

growth
spree,
Supertron
had another rewarding year. The
company in the
fiscal clocked a revenue of `1,948
crore, registering a robust growth of
24%, as compared to the industry
standard of 10-12%. Its impressive
performance has helped the company enter the Top 50 list for the first
time.
This year, Supertron joined hands
with Taiwan-based TUL Corporation
for the distribution of their graphic
card brand Powercolor. Supertron
is very optimistic about the graphic
cards business in India and is aiming
to tap the market with this alliance.
Supertron was also appointed by
Genuis, a provider of computer peripherals and smartphone accessories, as its national distributor for the
Indian market. Supertron is already a
www.dqindia.com
national distributor for many leading

companies, including Dell, Seagate,
Acer, IBM, LG, Samsung, Transcend,
Digilite, Digisole, Cyber Power,
Toshiba, Philips, among others.
The company is focusing on opportunities in smaller towns and has
opened four branches in cities like
Jabalpur, Puducherry, etc. It has also
opened satellite branches in Trivandrum and Rajkot.
Supertron had crossed the `1,100
crore threshold in FY11 and has
maintained the positive growth momentum since then. For FY16 too,
the company is eyeing 25% growth
and has set up a target of `2,500
crore only in the IT vertical.
Supertron is Dells largest marketing partner in India. In FY15, Supertron received the Platinum Club Super Achiever Award from Dell.
Dell, Seagate, and Acer were the
major contributors to Supertron Electronics business. In the last financial
year, Supertron had acquired the distribution rights of the companies like
Asrock, TP LINK, Powercolour, Genius, and Gionee Mobile.
With a strong portfolio, FY16 also
looks positive for the company.
2014-15
1,948
2013-14
1,575
24%
July 31, 2015
101
the dq 50
RANk
Rank
0 5 0

In FY15,
the bulk of
revenues
came from
three main
regions:
North
America
contributing
56%, followed
by Europe
at 20%,
and India
chipping in
6%
2013-14
N A
102
July 31, 2015
ARUN JAIN
Chairman
or Polaris, one of the
long standing players in
the BFSI products and
services space, FY15
was a happening year. It
now has two entities: Intellect Design
Arena (ranked separately), which is its
product arm and Polaris Consulting &
Services, its services arm. With this
bifurcation the company intends to
have a more focused play in the banking and financial sector, with a mix
and match of products and services.
As we look at the services arm,
FY15 saw Polaris embarking on a
series of strategic shifts. With the
new focus, it gained more clarity in
the services space and sought wideranging mandates. The company
says it secured 24 new client additions over FY15. Over the course
of FY15, the company worked on a
digital strategy that gave enough leverage to up its ante in the services
business.
www.dqindia.com
As we look at the evolution of Polaris to what it is today, it has indeed

come a long way from Polaris Software Lab to Polaris Financial Technology and now to Polaris Consulting
and Intellect Design. With the new
focus it will now be able to retain its
niche space in the banking products
and the services space.
Since FY15 was the first year for
the standalone services business,
the company feels the larger dividends will percolate only in FY16 as
the fruits of the labor will become evident. The company is bullish about
its future in the BFSI space and having spent `800 crore on its product
development, it needs to balance out
its services and product business.
Geo-expansion and diversification
might help the company in FY16 to
expand the top line.
While the overall outlook for Polaris
remains good, but at the same time
one needs to factor in the IT adoption
in the BFSI space. Any slowdown will
impact the growth and clearly here
further deepening domestic mandates will help.
2014-15
1,894
2013-14
NA*

(*Previous year ( FY14 `2,424 crore) cannot be
comparable with FY15 financials consequent to
demerger of product business during the current year)
The Next 50
RANK
COMPANY
PAGE NO.
RANK
COMPANY
PAGE NO.
51
Persistent Systems
104
76
TAKE Solutions
119
52
104
77
Adobe Systems India
120
53
Sonata Software
105
78
Aurionpro
120
54
Ricoh India
105
79
Juniper Networks
121
55
106
80
Cybage Software
121
56
Symantec India
106
81
122
57
ITC Infotech India
108
82
VMware
122
58
NetApp India
108
83
123
59
SFO Technologies
109
84
D-Link
123
60
3i Infotech
109
85
Fujitsu India
124
61
Sify
110
86
AMD India
124
62
Seagate India
110
87
125
63
CSS Corp
111
88
Fortune Marketing
125
64
111
89
Trigyn Technologies
126
65
Geometric
112
90
Accel Frontline
126
66
Epson India
112
91
LG India
127
67
Mastek
113
92
Team Computers
127
68
Xerox India
113
93
128
69
Birlasoft
116
94
RS Software
128
70
NIIT Limited
116
95
129
71
eClerx
117
96
Zylog Systems
129
72
OnMobile Global
117
97
Subex
130
73
AGC Networks
118
98
Nucleus Software
130
74
Tata Elxsi
118
99
Huawei India
131
75
Intex Technologies
119
100
SQS India BFSI
131
www.dqindia.com
July 31,2015
103
the dq 100
Rank
Rank
0 5 1
Persistent Systems
M
2014-15
1,882
2013-14
1,669
12%
0 5 2
1,737
2013-14
1,733
104
July 31, 2015
ecosystem, covering a spectrum of

platforms and technologies to drive
digital transformation.
The company won some notable
deals in FY15; in the last quarter itself
the company added as many as 51
clients. One major project it bagged
was from an international oil and gas
inspection and maintenance services
company to develop an Internet of
Things-based solution. The company
was also selected by an Australian
bank to develop customer-centric
self-service multi-channel offerings
as part of their digital transformation.
Persistent also attained Oracle
PartnerNetwork specialization for Oracle Identity Governance and Oracle
Access Management, the only Oracle
partner to achieve both.
Rank
Rank
2014-15
aintaining a double-digit growth,

this year Persistents
revenue
stood at `1,882
crore, up 12%
from last year. It was a landmark year
for the company as it completed 25
years of existence.
The companys key focus this fiscal
seemed to be on expansion through
strategic acquisitions. Persistent acquired some assets of a Pune-based
web discovery solution provider
Hoopz Planet Info and made a strategic investment in an IoT start-up
Altizon Systems.
The company saw excellent traction in the enterprise segment and is
focused on strengthening its partner
0.3%
nfinite Computer Solutions is

a global provider of software
solutions in the areas of IT
services, product engineering, and mobility and messaging products and solutions.
With a marginal 0.3% increase
in revenue over the previous fiscal,
the company just managed to stay
on the positive growth side. The last
quarter was exceptionally challenging with numbers significantly lower
than Q3.
It attributes the downfall to significant reduction in support fee for its
core messaging platform over that
period.
On a positive note, the company
added 34 clients during the year. A
www.dqindia.com
significant one being a two-year, $30

mn plus, platform development deal
with a healthcare client.
Infinite also bagged a large EMS
deal with one of its existing financial
services client.
During the year, the IT solutions
provider added multimedia messaging capabilities to its Enterprise Messaging Service (EMS).
In the second quarter, the company announced the launch of Rapid
NOW, an ERP specifically for small
and medium textile organizations.
According to one of its latest performance reports, Infinite plans to
realign and focus on positioning itself as a platformization company
by enhancing current platforms and
building new ones.
Rank
Rank
0 5 3
Sonata Software
W
2014-15
1,682
2013-14
1,566
7%
0 5 4
1,637
2013-14
1,048
56%

|
bility and analytics that has helped it

build partnerships with global companies in their digital initiatives.
Sonatas ability to deliver digital
readiness solutions has won it new
accounts in FY15 and this along with
its strategy of scaling existing customers with its next generation solutions paid off well.
Of the total revenues in FY15, exports held the lions share contributing 92%. Across geographies, US and
Canada formed the most prominent
locations for Sonata with 53% of the
revenues coming from there. A key
highlight was the acquisition of Rezopia, a SaaS-based and end-to-end
reservations, contracts, operations,
and distribution management systems platform for travel providers.
Ricoh India
Rank
Rank
2014-15
ith strong IT
services growth,
Bengaluru-based
Sonata Software
has
managed
to sustain its
growth momentum this time as well.
The company has registered a 7%
growth in revenues in FY15 over the
last fiscal with its revenue standing at
`1,682 crore as against `1,566 crore in
the previous year. This increase in revenue is backed by a strong underlying
growth strategy that focused on two
key verticals, travel and retail and distribution in the enterprise IT side.
The companys focus over the last
fiscal, and over the last couple of
years, has largely been on new age
technologies like omni-channel mo-
n FY15, Ricoh India continued

its success story by posting a
strong growth of 56% YoY. The
boost in top line was primarily
backed by growth in core products and IT services segment.
The company won several highvalue business contracts during the
fiscal, a large part of which came
from the government. Major deals
bagged in the government sector
include a five-year order from the
Department of Posts worth about
`1,370 crore. As a part of the contract, Ricoh will modernize approximately 129,000 post offices through
automation.
Another big win during the year
was a `200 crore project from the
Department of Education, Delhi
www.dqindia.com
Government for the implementation

and maintenance of ICT solutions in
1,100 schools across Delhi.
Apart from this, Ricoh is handling
government to citizen implementations for various state governments.
Noteworthy ones amongst them
include Tamil Nadu Health project,
Karnataka Panchayti Raj project,
Chhattisgarh cloud-based tablet
solution, Assam Govt Education
projects, etc.
FY15 also saw Ricoh India strike a
strategic partnership with HCL to enter the Indian education space.
Looking ahead, Ricoh is upbeat
about its growth and increased visibility in the Indian market, where IT
services is expected to be a growth
engine in the coming years.
July 31, 2015
105
the dq 100
Rank
Rank
0 5 5
M
2014-15
1,620
2013-14
1,500
8%
Symantec India
Rank
Rank
0 5 6
2014-15
1,534
2013-14
1,420
106
July 31, 2015
already has distribution partnerships

with leading vendors such as Gigabyte, Corsair, HGST, Logitech, LITEON, ADATA, etc.
Apart from this, Neoteric joined
hands with RIVACASE as the exclusive national distributor for its range
of Protective Carrying Solutions.
The other major deal was the appointment of Neoteric by Linksys as
its national connectivity partner for its
channel business. Emerson Network
Power also appointed the company
as a distributor for its small and medium UPS product portfolio.
With several new initiatives and
partnerships underway, the outlook
for Neoteric in FY16 is positive, with
the company aiming for a major
growth boost.
umbai-based
Neoteric Infomatiques revenues
for FY15 stand
at `1,620 crore,
showing an increase of 8% over the previous year.
The companys growth was backed
by its PC component business, which
was the major revenue contributor.
The key highlight of the year was
the companys strategic alliance with
Prime ABGB. As a part of the agreement, Prime ABGB moved its operations under Neoteric and the companys founder Gulbir Bhatia joined
Neoteric. With this merger, Neoteric
is expecting to add several new vendors to its distribution portfolio in
the coming months. The company
8%
t was back to growth for Symantec India in FY15. After a disappointing year in FY14, where
the companys revenues had
declined by 10%, the company
has managed to get back on the
growth track with 8% hike in revenues. The security solutions provider
clocked a revenue of `1,534 crore
against `1,420 crore in the previous
fiscal.
India continues to be an important
market for Symantec. The pivotal role
played by the Indian market can be
gauged from the fact that the companys 35% of engineering talent is
based in the country.
Globally, FY15 was a transformative year for Symantec, as the company announced its unified security
www.dqindia.com
and information management strategies, delivered more than 50 products, and made the decision to separate Symantec and Veritas into two
standalone companies. The company also observed significant traction for endpoint protection, data loss
prevention, NetBackup appliances,
and NetBackup software.
Symantec India witnessed some
movement at the leadership front
with the appointment of Shrikant
Shitole as Managing Director for its
enterprise security business in India.
Apart from this, Symantec partnered with Nasscom for building cybersecurity skills in India. This partnership will enable the industry to map
existing and future skills requirements
and plug its demand-supply gap.
the dq 100
Rank
Rank
0 5 7
ITC Infotech
F
2014-15
1,458
2013-14
1,277
14%
0 5 8
1,438
2013-14
1,284
108
July 31, 2015
year, particularly in Australia, has

been successful and through a combination of partner driven initiatives
as well as direct sales approach has
seen good growth during the year.
Further, ITC Infotech expanded its
domestic footprint and inaugurated
offices in Gurgaon and Pune. The
company also has plans to set-up a
large development center in Noida to
augment its delivery capabilities.
Apart from this, the company
strengthened its global workforce
during the year, which now stands at
more than 6,700 people.
The company is likely to strengthen
its business approach in synchronization with the 4D strategy of focus
on domain, data, digital, and differentiated delivery.
NetApp India
Rank
Rank
2014-15
Y15 proved to be another good year for ITC

Infotech, with the company recording revenue
of `1,458 crore, up by
14% as against last
years `1,277 crore. The good show
was reflective of some strategic
changes that seem to have paid off.
The company acquired 90+ clients
and saw good traction in repeat business from strategic customers. A key
highlight for the company was its
partnership with Asigra, which will
enable it to offer niche cloud-based
solutions, fully automated and compliant backup as well as recovery
backup.
The companys expansion in the
Asia Pacific region in the previous
12%
he data volumes growing at 50% rate is

auguring well for companies like NetApp.
The company says that
it is the only vendor
to gain market share in CY14. What
drove the growth was aggressive
consumption of storage from verticals such as BFSI, IT/ITeS, and manufacturing. NetApp leveraged on the
fact that almost every industry in India has become data-centric; organizations have become dependent on
IT to deliver products, services, and
to interact with various stakeholders.
Over the year, NetApp assisted
customers in their move to Software
Defined Storage (SDS) and cloud
computing architectures through the
www.dqindia.com
Clustered Data ONTAP Storage Operating Systema data management

platform enabling unrestricted, secure
movement of data across public and
private clouds.
The company also looked at making intelligent and innovative storage
solutions and harped on virtualization, cloud, business applications,
big data, and deepened its expertise
in this part of the world.
With the governments focus on
Digital India, NetApp believes special-purpose clouds and applications
will emerge to focus specifically on
connecting devices and machines.
The company also aggressively
pitched on its hybrid cloud offering
for enterprises planning to integrate
cloud storage resources.
Rank
Rank
0 5 9
SFO Technologies
S
2014-15
1,370
2013-14
1,200
14%
0 6 0
1,344
2013-14
1,308
3%

|
gineering. The engineering services

business had a turnover of about `250
crore with an operating profit between
`75 crore and `80 crore.
The company has a global presence
with front-end operations in all continents and the products and services
are targeted at technology fields as diverse as embedded software, middleware, applications, digital electronics,
RF & wireless, wire harness, power
supplies, fiber optics & optronics, and
mechanical/plastic packaging.
With the opening up of defence
production to the private sector and
with the governments Make in India
initiative gaining momentum, SFO is
well poised to attract many giants in
the aerospace and defence segments
to partner with them in the future.
3i Infotech
Rank
Rank
2014-15
FO Technologies, the
flagship
company
of Kochi-based diversified
business
conglomerate NeST
Group, marked a
growth of 14% in FY15 with its revenues standing at `1,370 crore compared to `1,200 crore in the previous
year.
The company employs about 3,500
people across its facilities located in
Trivandrum, Kochi, Bengaluru, Mysore,
and in the US. According to reports,
the companys engineering services
business, which operates in the areas
of manufacturing services, products
and technologies, engineering and
software, and systems integration, is
being sold out to QuEST Global En-
id-sized IT services company 3i

Infotechs troubles
continued
this
year as well. For
the fourth quarter
of FY15, the company reported net
loss of `396 crore as compared to
loss of `300 crore in the corresponding quarter last year. Overall though the
company managed to remain on the
positive side with meagre 3% growth.
Though the company is trying to
get back on the growth path, the only
positive news for the company is that
its total debt in FY15 has come down
to `2,655 crore from `3,815 crore in
FY14.
Over the past decade, the company binged on foreign currency conwww.dqindia.com
vertible bonds to make several acquisitions but the strategy backfired and
the company failed to integrate the
acquisitions and is now struggling to
pay off its creditors. According to the
results, the company has sold two
assets this year, one in second quarter and another in the third quarter of
FY15. There are also reports that the
company has put most of its assets
on sale and has been struggling to
find buyers for any of its businesses.
Meanwhile, ICICI Bank which had
a substantial stake in the company
has trimmed down its shares from
18.7% in FY14 to 6% in FY15. The
senior leadership also saw some
movements with Charanjit Attra, the
Executive Director and the CFO stepping down.
July 31, 2015
109
the dq 100
Rank
Rank
0 6 1
Sify Technologies
2014-15
1,286
2013-14
1,046
23%
0 6 2
1,210
2013-14
1,163
110
July 31, 2015
Meanwhile, cloud and managed

services grew by 21% and here the
company added 41 customers. Application integration services saw
4% growth; this business signed
the first end-to-end SAP led total
outsourcing deal for a major CPG
company.
The technology integration services secured the biggest growth of
69% and this business added more
than 110 new customers under network integration, security & DC, and
unified communication services.
The company was able to synergize its competencies across data
and communications and leveraged
on hot areas like cloud and morphed
into an integrated technology operations provider.
Seagate India
Rank
Rank
2014-15
s we look at the year

went by, Sify played
the art of sustaining
game during FY15.
Its focus on services
under Sify 3.0 gained
traction with good contracts realizations. The one from a global automobile company and an Indian automotive component manufacturer for
WAN outsourcing are some big wins.
The telecom vertical achieved a
major milestone by connecting more
than 27,000 locations for the Department of Post. This division grew by
30%. In tandem, the datacenter revenues grew by 4% and 52 new clients were acquired across verticals
including BFSI, ITeS, retail, and manufacturing.
4%
espite the increasingly tough competition in the storage

solutions
space,
Seagate India has
managed to bounce
back on a positive growth track this
time with revenue growth of 4% over
the last fiscal. This brings in a sigh of
relief for the company that according
to DQ estimates saw a 9% decline in
its revenues in the last fiscal.
Exponential growth of data coupled with high priority on backup and
disaster recovery solutions is propelling the demand for storage solutions
worldwide, as well as in India.
At CES 2015, Seagate launched
Seagate Seven and Seagate Wireless. Seagate Seven is the worlds
www.dqindia.com
slimmest 500GB hard drive with a

depth of 7mm. Cloud-based storage
solutions are also coming out to be a
key growth driver.
India continues to be a key market
for Seagate as the company expects
huge uptake in demand for storage.
The company is quite bullish on the
SMB sector and is bringing out solutions well aligned to their unique
business needs. Also the Digital India campaign is expected to increase
mobile penetration massively, in turn
accelerating demand in this space.
Seagate will be focusing on investing
in its storage product portfolio. In India,
it plans to work more closely with its
partner network and continue making
strategic investments in higher capacity storage and new technologies.
Rank
Rank
0 6 3
CSS Corp
I
2014-15
1,198
2013-14
1,080
11%
0 6 4
1,108
2013-14
926
20%

|
support, cloud migration, and retail

solutions.
Tech support is a crowded alley,
but CSS Corp has upped its ante in
this space through a well-balanced
strategy. This was reflected in accreditations from Forrester, Gartner,
and Nelson Hall. For instance, Nelson
Hall placed the company in the top
spot in the Customer Management
category.
The road ahead augurs well for the
company and it is expected to augment its competencies in technology,
IP, and processes. In FY16, CSS Corp
is expected to broaden its competitive
advantages, and invest in technology,
IP, processes, and growth services
cutting across many industries and
throughout the customer lifecycle.
Rank
Rank
2014-15
nfrastructure and geo expansion topped CSS Corps agenda during FY15. It launched
a new 45,600 sq. ft center in
Chennai. The company appointed Chris Rezendes as
EVP and Chief Sales Officer and
David McDougall, joined as the companys EVP and Chief Business Officer. With these appointments the
company intends to deepen its client
mandates and create a more focused
strategy.
During the year, it secured 13 new
wins and most of the clients are from
Internet-related services, financial
services, and mobility solution providers. In terms of service expansion,
the company launched new market
segments such as premium tech
uring FY15, Zicom

scored a number
of milestones that
helped the company achieve an
impressive
20%
growth over the last years revenues.
The fire security business of the
company in the Middle East conducted under the two flagship subsidiaries, Unisafe Dubai and Phoenix Qatar,
continued with its improved performance, despite slump in the global
crude prices. The Gulf fire safety business has contributed 60% to the top
line of the company. However, the
working capital deployment for the
projects still remains a major concern.
Zicom SaaS also performed exceedingly well with continued flow
www.dqindia.com
of orders from banks for ATM surveillance and housing societies. The
company is positive that the segment
will further grow in the coming years.
The company recently entered into
a distributor agreement with Biometronic Technology, a company engaged in the manufacturing of products, equipment, accessories, spare
parts, and software based on iris recognition algorithm of IriTECH USA.
The company also received the
first pilot order for its iris technologybased biometric reader for the PDS
distribution scheme of the Andhra
Pradesh government. It expects this
business to grow in the current year,
keeping in mind the governments
desire to implement various financial
inclusive schemes.
July 31, 2015
111
the dq 100
Rank
Rank
0 6 5
Geometric
2014-15
1,106
2013-14
1,095
1%
0 6 6
1,078
2013-14
880
112
July 31, 2015
and Product Lifecycle Management

(PLM) landscape.
Geometric also inaugurated a new
facility in Pune to mark the 20th anniversary of its incorporation after
separating off from Godrej & Boyce
to become an independent company.
Another key highlight for the year
was 3D PLM Software (3D PLM),
a joint venture between Geometric
and Dassault Systmes announcing
the creation of a subsidiary, 3D PLM
Global Services. This is expected to
enhance Geometrics revenue in the
near future.
The company is hopeful that the
improvement in deal pipeline will also
have a positive impact on revenues
in FY16.
Epson India
Rank
Rank
2014-15
fter witnessing a
decent 7% hike in
top line in FY14, engineering
services
company, Geometric
faced a setback this
time with revenue growth slipping to
a meagre 1%. The dismal performance in the last quarter was responsible for the slide in revenues. The
fall was attributed to sharp decline in
the Euro and reversal of revenues on
account of issues arising from ERP
switch over.
The company signed deals worth
`57 crore in FY15. A prominent one
was the application maintenance
deal it signed with Volvo Cars, Sweden covering major applications
from computer aided design (CAD)
23%
t was another year of strong

all-round growth for Epson India. The company reported a
CAGR of 20+%, which it has
continuously maintained for
the last several years. At an
overall level, Epson is now the #1
brand by value market share in all
the key categories it operates in, ie,
inkjet printers, projectors, dot matrix printers, and POS printers. The
key reason for growth at an overall
level is a very strong consumercentric approach pervading through
the organization. Moreover, its robust and loyal channel network also
helped.
Segment wise, its L and M Series
InkTank printers provided customers high value and continued to
www.dqindia.com
shake up the inkjet printer market.

Lowest printing costs ever of 12
paise for black and white and 25
paise for color was appreciated by
segments across the board including commercial, corporate, and
home. The company also saw extremely strong consumable sales
thanks to low cost and high demand for genuine ink bottle for InkTank printers.
As per CMR, Epsons value market share climbed from 44% to 51%,
whereas HP came down further to
33%.
On the projector side, as per CMR,
(Value share as per CMRH1 FY
2014-15), Epson clocked a market
share of 23% and remains the #1
projector brand in India.
Rank
Rank
0 6 7
Mastek
2014-15
1,030
2013-14
910
13%
0 6 8
1,010
2013-14
989
2%

|
American market. With this demerger,

Mastek will handle the non-insurance
business while the new entity Majesco
will handle the insurance business.
The company signed an agreement with Agile Technologies to acquire its insurance industry focused
IT consulting business. The transaction is expected to close in the second quarter of 2015. The companys
total client base stands at 153 including customers from Agile Technologies acquisition.
The company also announced its
plans to merge Cover-All Technologies with Majesco in a 100% stock for
stock transaction. With this transaction, the company is hopeful of creating a great positioning in the market
place for its insurance business.
Xerox India
Rank
Rank
2014-15
Y15 proved to be a
milestone year for
Mumbai-based Mastek
as its revenue crossed
the `1,000-crore mark
for the first time in its
history. The company posted a robust growth of 13% with revenues
climbing to `1,030 crore from previous fiscals `910 crore. Although, the
overall year proved to be good for the
company, its fourth quarter earnings
were quite disappointing.
Mastek continued to make strategic
changes with respect to its insurance
business. It demerged its insurance
products and services business into
a new company, followed by two key
acquisitions in the insurance sector to
address the opportunities in the North
or FY15, as per Dataquest

estimates,
Xerox Indias revenues
stood at `1,010 crore
as compared to FY14
revenue at `989 crore,
with the company witnessing a modest growth of 2%.
Globally, services contributes to
over 56% of the companys revenues.
However, in India it is a combination
of digital printing, office printing, and
document management services that
is driving the business growth for
the company. That said, the services
business is growing much faster at
20-30%, whereas the product business is growing at a single digit of
4-7%.
The company is eyeing further
www.dqindia.com
growth in the segment and expects

over 50% of its business mix in India
to come from the services sector in
the next five years. To this end, the
company is in the process of growing
its services business in the country
with new services such as Document
Transaction Processing Services
(DTPS).
On the partner front, Xerox has
strengthened and consolidated its
partner base across the country and
has about 200 active channel partners.
Further, the company is looking
at offering its services to the SMEs
through a lease-rental model, under which it would offer products on
lease or rent and offer managed services.
July 31, 2015
113
the dq 100
Rank
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0 6 9
Birlasoft
B
2014-15
995
2013-14
939
6%
0 7 0
957
2013-14
951
116
July 31, 2015
cle, IBM, HP, SAP, etc.

Birlasofts portfolio of services includes enterprise application services, custom application services and
specialized services like testing, analytics and mobility. The company is
also focusing on bolstering its capabilities in the emerging areas of cloud
and analytics.
Apart from this, the company has
won an award in the Best Analytics
Solution Provider in Predictive Modelling category at Big Data & Business Analytics Awards organized by
the World Brand Congress.
Birlasoft is currently in an interesting growth phase and the outlook
for FY16 also looks upbeat, given its
robust portfolio of services and clients.
NIIT Limited
Rank
Rank
2014-15
irlasoft, a part of $1.6

bn diversified CK Birla
Group, clocked a robust growth of 6% in
FY15. The IT services
provider has been on
a steady growth path and boasts of a
global clientele that includes several
Fortune 500 companies across the
banking and financial services, insurance, manufacturing, and healthcare
sectors.
During the fiscal, the company
appointed Anjan Lahiri as the Chief
Executive Officer of its global IT services to steer the next phase of growth
for the company.
Over the years, the company has
established partnership with leading
companies, including Microsoft, Ora-
1%
verall, the year

was flat for IT
training solutions
firm NIIT Limited
as it clocked a
marginal growth of
1%. In FY15, the majority of the companys revenue came from the Corporate Learning Group (CLG), which
formed 51% of the total business for
NIIT.
School Learning Solutions also
performed well with the company
registering an order intake of `622
mn during the year. Further, it added
455 schools during the fiscal. The
company is expecting further growth
from this segment.
In line with last year, IT training continued to remain muted, and was the
www.dqindia.com
key reason that limited the growth.

Further strengthening its China
operations, NIIT in the third quarter entered into an MoU with Guian
New Area, the capital city of Guizhou
province, China, to offer programs in
IT with special focus on big data.
One of the key deals that the company won during the year includes a
three-year contract to provide managed training services to Vestas
Wind Systems, a leading global wind
energy company headquartered in
Aarhus, Denmark.
eyeing huge potential in global corporate training outsourcing and career skills training and expects these
areas to drive the next phase of
growth.
Rank
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0 7 1
eClerx
W
2014-15
942
2013-14
841
12%
0 7 2
917
2013-14
865
6%

|
mained muted, the company recorded stellar 44% YoY revenue growth
for emerging clients.
With about 8,500 employees, the
company today serves a diverse
global client base, including the
worlds leading financial services,
broadband, cable and telecom,
eCommerce, industrial manufacturing and distribution, software, media and entertainment, and travel
companies.
In line with its growth strategy, the
company in the fiscal bought CLX, an
Italian company specializing in creative and digital marketing services for
the retail and luxury goods sector in
Europe. The acquisition is aimed at
strengthening its client and employee
presence in Europe.
OnMobile Global
Rank
Rank
2014-15
ith double-digit
growth of 12%,
eClerx is a new
entrant in the
top 100 list. For
FY15, the company posted revenues of `942 crore
as against `841 crore in FY14.
During the fiscal, the companys
cable and telecom business saw
spectacular growth. eClerx also witnessed traction for its digital marketing business backed by the demand
for content and commerce, and data
management. The company saw the
largest number of new logo acquisitions in this segment. Overall, it added 24 new clients to its portfolio during the fiscal. Interestingly, although
the growth in the top five clients re-
espite adverse currency

movements
impacting the quarterly
performance,
OnMobile Global, the
mobile music offering
provider, managed to pull off a 6% YoY
growth in FY15. This brings it to #72 in
the Top 100 rankings this time.
The companys international business (that accounts for nearly 76%
of the total revenues) saw increased
momentum this year with Q4 revenues going up by around 14% on
a YoY basis. Amongst developed
markets, Europe registered a whopping 53% growth in the fourth quarter
as compared to the corresponding
quarter in the previous fiscal.
In the Indian market, FY15 saw Onwww.dqindia.com
Mobile renewing contract for SMS,

WAP, and USSD services with a leading operator and becoming the exclusive caller ring back tone partner
to Tata Teleservices.
The company also witnessed some
new appointments in FY15, with Sanjay
Baweja coming in as an independent
non-executive additional director and
Praveen Kumar taking over as the CFO.
Recently, OnMobile Global saw its
share price surge after it secured a
multi-year partnership renewal with
Movistar in Latin America for its service Ringback Tones.
Going ahead, the company is
hopeful that its product development
initiatives, some of which are planned
to be deployed in this financial year
will yield good results.
July 31, 2015
117
the dq 100
Rank
Rank
0 7 3
AGC Networks
T
2014-15
888
2013-14
776
14%
0 7 4
853
2013-14
775
118
July 31, 2015
AGC Networks recorded significant growth from the Middle East

and Africa market in the fiscal. It
won major projects for implementing cybersecurity solutions for three
leading banks across Kenya and the
Middle East.
This year also saw some changes
at the board level with the company
approving the appointment of Jangoo Dalal as an Additional Director.
Going forward, AGC Networks is
hopeful that its new office in Philippines and anticipated opening
up of opportunities in Singapore
and ASEAN will yield good results.
Though India remains central to the
companys strategy, it is also focusing on increasing revenue contribution from international markets.
Tata Elxsi
Rank
Rank
2014-15
he positive impact
of AGCs customerfocused strategy has
started reflecting on
the firms performance.
In FY15, the company
witnessed a robust growth and reported a 14% increase in its revenues
from the last fiscal. The companys
growth was backed by notable wins
from across the globe. In India, AGC
bagged the project for call center application services for an MNC insurance company. The company also
won a project on dynamic services
on IVR for the first private mobile operator in Nepal and a unified communications deal from one of the largest
banking organizations headquartered
in Atlanta, US.
10%
ata Elxsi, the IT software products company, showed a good

overall
performance
throughout the year,
posting positive returns on a QoQ basis, except in the
first quarter. The impressive return of
10% in FY15 has led to an increase
in investor confidence that has been
evident from the companys surging
share prices of late. In fact, its fourth
quarter results were better than
what analysts had predicted and it is
hence proving to be an attractive pick
for potential investors.
The companys embedded product
design segment accounted for lions
share in the revenue, with 79% coming from the segment.
www.dqindia.com
The Tata subsidiary launched some

innovative products throughout the
year. It introduced a globally deployable RDK suite called Prime, which
accelerates deployment of interactive TV applications for MSOs. This
has helped the company in expanding the reach of its RDK-based solutions to the global community.
The year also saw the company
partnering with academic institutions.
Towards the end of the year Tata Elxsi
launched ACTIV@TE in association
with Sree Chitra Thirunal (SCT) College
of Engineering, which is an academic
collaboration and talent incubation
program to develop engineering students. In November 2014, the company appointed Ganapathy Subramaniam as the Chairman of the board.
Rank
Rank
0 7 5
Intex Technologies
I
2014-15
835
2013-14
726
15%
0 7 6
799
2013-14
815
-2%

|
In fact, the company claims to have

reached the mark of `4,000 crore in
overall revenues in FY15, of which a
major chunk of 70% came from the
mobile phones business.
For the next financial year, Intex
Technologies is targeting a total revenue of `9,000 crore, out of which
`7,500 crore is expected to come
from the handset business. The company has over 6,000 employees currently and as per published sources,
it holds about 7% market share
across domestic manufacturers.
Going ahead, the company is
looking at grabbing a bigger pie of
the security and surveillance solutions market, although its smartphone segment is expected to lead
the growth.
TAKE Solutions
Rank
Rank
2014-15
ntex Technologies, the IT accessories, mobile phones and

electronic products company,
saw a hike of 15% in its IT business revenue as against the
previous year, with revenues
standing at `835 crore. This amount
excludes the revenue from segments
including mobile handsets, TVs, etc.
The company made its foray into
the burgeoning security and surveillance solutions in the previous year,
by introducing a range of CCTV
cameras and digital video recorders
(DVR) targeted at enterprise customers. The prudent move seems to have
paid off well this time.
Intex has been witnessing most of
the growth momentum in its smartphones and electronics segments.
he slide continued over

FY15 as well, but the
company says that the
revenue growth is not
comparable to FY14
due to discontinuation
of non-core businesses, primarily in
the supply chain management vertical in FY15. So clearly for FY15, the
emphasis was more on getting the
numbers back to the pink.
TAKE operates in a niche space
across two verticals, life sciences
and supply chain management. In
FY15, revenue contribution from the
life sciences vertical increased from
52.6% to 64.3%, which was in line
with the strategy to emphasize on
the life sciences business envisaged
at the start of FY14. Revenue conwww.dqindia.com
tribution from the US also increased

from 59.8% in FY14 to 70.4% in
FY15.
Despite the revenue dip, the company was able to post a net profit
of `699 mn with healthy growth of
20.5% in FY15. So this clearly made
the investor and shareholder confidence intact in this company.
The company is expected to stabilize its growth in FY16 as its US
revenues are already seeing an uptick. This augurs well for the company, as it will be able to considerably deepen the market in FY16. But
much also depends on the IT spending patterns in the life sciences vertical and any overall slowdown will
adversly impact its revenues going
forward.
July 31, 2015
119
the dq 100
Rank
Rank
0 7 7
Adobe Systems India
2014-15
796
2013-14
690
15%
0 7 8
737
2013-14
649
120
July 31, 2015
it is the second largest in the APAC

region after China, due to high adoption of smartphones in India.
With more and more Indian enterprises going digital, Adobe Marketing Cloud is expected to witness
high demand. The company counts
names such as HDFC Life, iYogi,
Sterling Holidays, ShopClues, PayBack, Jabong, and MakeMyTrip as
its customers in this segment.
Given the governments huge
thrust on digital technologies, Adobe sees immense opportunities in
the country as every government to
citizen interaction requires forms,
and Adobes PDF format is a preferred and known technology format
in making the digitization of documents possible.
Aurionpro
Rank
Rank
2014-15
ndia is an extremely strategic market for Adobe as over

one-third of Adobes R&D is
done out of India, with the
Indian R&D center filing more
than 300 patents till date.
FY15 was a pretty good in terms of
growth for the company as its revenue hiked by 15%, reaching `796
crore. The companys rank has gone
up from #93 in the previous year to
#77 in FY15.
Adobe is trying to make India its
largest market for enterprise business, led by its digital marketing
focus. The companys Adobe Marketing Cloud is a key product for
leading the digital strategy for Adobe. While revenues from the digital
marketing segment in India is small,
14%
urionpro, a provider
of
enterprise-scale
software and services, is a new entrant in
the DQ Top 100 ranking. Overall, the company did reasonably well during the
fiscal and recorded a healthy growth
of 14%. In terms of geography, US
contributed to 40% of the companys
revenue, followed by India contributing 25%.
2015 proved to be an eventful year
for Aurionpro as it completed the
merger of Intellvisions Software. The
acquisition is expected to help the
company strengthen its digital innovation offerings.
The year saw Aurionpro enter
several strategic partnerships. The
www.dqindia.com
company partnered with Inspyrus to

accelerate implementation of enterprise-scale accounts payable solutions. It also signed a strategic agreement with ForgeRock to strengthen
its enterprise security practice. Further, Aurionpro inked a distributor
and implementation partner agreement with an RFID vendor in the Middle East, TrackIT Solutions, to make
an immediate regional impact.
During the fiscal, the employee
count rose to 1,344 as against 1,259
at the beginning of the year, a gross
addition of 85 employees.
To sustain the growth momentum,
the company is focusing on investing on new product development and
expanding existing product capabilities.
Rank
Rank
0 7 9
Juniper Networks India
2014-15
679
2013-14
709
-4%
0 8 0
670
2013-14
582
15%

|
its organization into a One-Juniper

structure which includes consolidating each of the companys research
and development and go-to-market
functions to reduce complexity, increase clarity of responsibilities, and
improve efficiency. As a result of
these changes, the companys consolidated business is considered to
be one reportable segment.
The company also witnessed leadership changes during the year. In
India, Ashish Dhawan was appointed
as the Managing Director for Juniper
India & Saarc operations after Ravi
Chauhan, the former MD, resigned
whereas Mrityunjay Kumar was appointed as the Country Director, Enterprise and Channel Business, IndiaSaarc.
Cybage Software
Rank
Rank
2014-15
uniper Networks India

had a tough time in sustaining its growth in FY15
and its revenue saw a
drop of 4%.
To get back the growth
momentum, Juniper is eyeing new
opportunities brought in by exponential growth of mobile Internet and
cloud computing. The company unveiled a set of new products to capitalize on these trends. To this end, the
firm announced a virtualized version
of its flagship MX Series 3D Universal
Edge Routing platform.
Further, the firm expanded its software defined networking portfolio
with new software and hardware, including the NorthStar controller.
The company in FY14 had realigned
Y15 proved out to be a

good year for Cybage
Software and it managed to secure its spot
with an impressive
15% revenue growth.
Its revenue in FY15 stood at `670
crore as against `582 crore in FY14.
Over the years, Cybage has
marked its presence in diverse industry verticals such as media and
entertainment, travel and hospitality,
retail and distribution, healthcare and
life sciences, and telecom.
It is focusing on building key partnerships to fuel further growth. FY15
saw the company enter three key
partnershipsCloudBees Gold Partner in the ALM space; Rackspace reseller partnership in the cloud zone;
www.dqindia.com
and Acquia Drupal Community-level

partnership in the CMS area.
Aimed to stay ahead in software development, the company is focused
on adopting scientific Application Lifecycle Management methodologies.
This year, the company also
launched a new vertical focused
exclusively on the hi-tech industry to boost its brand in the product
engineering space. To expand its
geographic presence, the company
opened new sales offices in Massachusetts, Boston, and Singapore.
Cybage was also rated as a leader in the Enterprise Software and
Consumer Software categories of
Outsourced Software Product Development industry by Zinnov Management Consulting.
July 31, 2015
121
the dq 100
Rank
Rank
0 8 1
2014-15
663
2013-14
627
Rank
Rank
0 8 2
2014-15
650
2013-14
NA
122
July 31, 2015
6%
Systems
International, which made
an entry into DQ
Top 100 ranking last
year, has been able
to secure its place in
the list with yet another year of good
show.
In line with the last years strategy,
telecom and digital media continue
to be the largest industry verticals followed by the BFSI segment. The volumes growth from existing, as well as
new customers, coupled with discipline in execution and higher license
revenue, led to improved margins.
To further accelerate its growth
momentum, the company this year
acquired a Singapore-based ERP
firm with BI competencies. This ac-
quisition is aimed at strengthening

the companys ERP and BI expertise and client base in South East
Asia.
During the year, the company also
completed the sale of its Europe
BPO Business. Further, R Systems
International changed the name of
its wholly owned subsidiary in the US
from Indus Software to R Systems
Technologies.
Going forward, the company will
continue to focus on disciplined execution, strengthening sales and marketing efforts, and processes along
with deepening its relationship with
customers. FY16 looks promising
for the company backed by a strong
sales funnel across business verticals
and geographies.
VMware
Mware is focusing
on strengthening its
position in India and
making significant investments as the virtualization and storage
market continues to pick up across
verticals. VMWares global CEO
Pat Gelsinger last year announced
that it projects investment of up to
$500 mn in India over the next three
years. Increased thrust on firming its
presence in the country has helped
VMware India make an entry in the
DQ Top 100 list.
The companys R&D and support operations in India are second in size and scale only to those
at VMwares headquarters in Palo
Alto, California. During the fiscal,
www.dqindia.com
the company significantly added to

its headcount, with more than 2,300
people in India.
Today, VMware serves nearly 3,500
customers and works with approximately 100 partners. Over the last
nine years, VMwares sales operations have expanded across India.
In FY15, VMware India saw a
change in the senior leadership as
T Srinivasan moved out of the company after a five-year stint. The company roped in Arun Parameswaran
(from Red Hat India) as the companys Managing Director.
The company further plans to expand its customer base in India and
is eyeing opportunities in the wake of
new trends such as Software Defined
Datacenters and cloud.
Rank
Rank
0 8 3
C
2014-15
628
2013-14
1,272
-51%
0 8 4
626
2013-14
487
29%

|
ments. Plus, economic slowdown in

the US market added to the problems. Also, the company has been
unable to bag any fresh projects in
the government sector to keep its
pipeline full.
In 2013, a Mauritius-based fund
had offloaded a huge chunk of its
holding in CORE Education which
probably added to the woes. Its
efforts to raise `200 crore in fresh
funding from lenders as part of a
debt restructuring program did not
fructify. As a consequence, the company had its margins shrinking and
stock prices plunging. It is important for the company to identify new
business avenues and look beyond
the government to get back on the
growth track.
D-Link
Rank
Rank
2014-15
onstant decline in
CORE Educations
turnover
continues in FY15. The
company has been
wading
through
rough waters for the last two years
because of its heavy reliance on the
government projects. Most of the
government business in FY15 was
in the planning phase and did not
pay dividends. As a result, the companys revenue fell by 51% to `628
crore from `1,272 crore.
Most of the companies in the
government space have faced
challenges in terms of getting the
stuck-payments. Similarly, CORE
Education was also hit by delays
in payments by the state govern-
ith an impressive
growth
of 29%, DLink had a rewarding year
in FY15. The
company attributes its growth to
the strategic alliances that allowed
D-Link to expand its solution offerings and reach out to a wider customer base pan-India.
In FY15, over 30% of D-Links revenues came from the government orders, followed by 25% revenue from
manufacturing units.
D-Link witnessed significant traction for its WLAN products. As per
IDC, D-Link India recorded the highest market share in wireless segment
in terms of unit shipment and revenue
www.dqindia.com
during the first three quarters.

The companys structured cabling
business also witnessed robust
growth of 25%. As per the company,
its strategic approach, strong distribution network, and supply chain
management were the key factors
that backed its success.
The year saw D-Link introduce a
range of 3G & 4G devices as a part
of its mobile Internet solution. The
company is eyeing growth in new age
11AC Wireless technology and introduced a wide range of devices in the
segment. Further, D-Link introduced
MiFi dongles.
D-Link also entered into a business
alliance with MOXA, a provider of industrial networking, computing, and
automation solutions.
July 31, 2015
123
the dq 100
Rank
Rank
0 8 5
Fujitsu India
O
2014-15
625
2013-14
525
19%
0 8 6
610
2013-14
526
124
July 31, 2015
footprint in the consulting services,

servers and storage business, it is
betting big on new-age technologies
like High Performance Computing
(HPC) and SMAC.
The company is eyeing huge opportunity for the HPC market segment. India is one of the top three
markets for HPC, for Fujitsu globally.
The company is now aiming to double its revenues in the HPC segment
in India. To this end, it opened a Fujitsu HPC Competency Center in Bengaluru recently.
Besides, Fujitsu is pumping investment in expanding its ICT utilization
through its solutions in the datacenter
and client computing devices business
along with business application and
managed infrastructure services.
AMD India
Rank
Rank
2014-15
verall, FY15 was

a
fairly
good
year, as the company witnessed
healthy
growth
of 19%. Fujitsu
Indias product market has shown
strength this year backed by 35%
growth over last year. Revenues
from the server, storage, datacenter
solutions along with business application services and managed infrastructure services increased this
year and moderate growth in the PC
and workstation business was seen.
Growth in India is largely due to
expansion of offshore facilities, while
the domestic market is yet to be
properly tapped by Fujitsu.
Further to strengthen the brands
16%
n FY15, AMD has manifested

robust growth in India because
of its constant efforts to enhance its product portfolio in
the graphic card segment. The
company increased its market
share to 26% in the local market,
giving a tough time to its competitor
Intel. AMD witnessed 16% growth
in India with revenue reaching `610
crore from `526 crore.
In fact, India is the only geography
where the company has witnessed
growth. Its global revenue performance has disappointed the investors
and peers. Further, with campaigns
like Digital India announced by the
government, the company hopes to
grow more in the future.
While the company has taken conwww.dqindia.com
siderable time to adopt the mobile

route, it is seriously exploring opportunities through its engagements with
local smartphone companies in India.
It collaborated with Lava, which earlier last year launched an AMD-based
tablet.
AMD claims to have the highest
share of commercial personal computer business in India than anywhere
else in the APAC region. Mega deals
such as with Uttar Pradesh, Tamil
Nadu, and Rajasthan governments
helped the company move upward.
Nearly 36% of the companys APAC
revenue is generated through India.
AMD also added a new line of businessembedded semi-custom servers for products like Sony PlayStation
and Apple Mac Pro for India.
Rank
Rank
0 8 7
I
2014-15
605
2013-14
533
14%
0 8 8
560
2013-14
508
10%

|
The company has emerged as a

preferred choice for digital transformation in banks and insurance firms.
The company won 56 deals in FY15
including a deal from the Reserve
Bank of India (RBI) which used its
digital platform for functions related
to treasury and citizen payments. Intellect was also chosen by an American bank for transaction risk management.
Apart from this, the company announced plans to establish application design centers in Mumbai and
New Jersey (US) for a collective investment of $20 mn.
Looking ahead, the outlook for
the firm looks upbeat with Intellect
expecting a 20% YoY growth in the
coming years.
Fortune Marketing
Rank
Rank
2014-15
ntellect Design Arena, the

demerged BFSI focused
product firm of Polaris Financial Technology, delivered a
strong performance during
the fiscal and secured a slot
in the top 100 ranking. Operating as
a standalone product arm in FY15,
the company was able to clock a
revenue of `605 crore.
With its digital 360 approach, Intellect strongly differentiated itself in
the global market place to accelerate digital transformation programs.
Further, Intellects digital products
found ready acceptance in advanced
markets, which reflected in the companys revenue distribution with over
47% of annual revenues from the US
and Europe.
t was back to growth for Fortune Marketing in FY15 with

the company clocking 10%
growth as against 8% dip in
FY14.
A well-known distributor
of big IT brands such as Symantec,
Norton, HP, and Creative, Fortune
Marketing distributes over 500 products ranging from computer peripherals, software, networking and surveillance products. The company counts
names such as Snapdeal, Amazon,
Flipkart, Acer, Max Life, and HCL as
its clients.
During the fiscal, Fortune Marketing was appointed as a national
distributor of Creative Technology
to promote the firms products. The
company will offer sales, marketing,
www.dqindia.com
technical support, and post-sales

service, as well as offer end-to-end
support to partners and customers
on behalf of Creative.
The company enjoys a formidable
reputation in the security surveillance
market, and has in the past grabbed
orders for a city surveillance project
for Bhopal. The firm has also been
considered for providing the storage
system for a domestic airport surveillance system for the New Delhi domestic airport.
Fortune Marketing has also made
a foray into the fast growing SSD
segment in India this year, when
it got appointed by Kingston as a
distributor for its range of solidstate drive (SSD) products in the
country.
July 31, 2015
125
the dq 100
Rank
Rank
0 8 9
Trigyn Technologies
R
2014-15
493
2013-14
452
9%
0 9 0
486
2013-14
421
126
July 31, 2015
ogy companies like Microsoft, EMC,

TIBCO, and IBM. The company is
also a registered software reseller
with Redington.
The key highlight for this year
was the launch of the companys
wholly owned subsidiary Trigyn
Digital in Canada. Trigyn Digital will
focus on providing digital services
including research, strategy, user
experience, creative, social media,
and content.
The company also bagged a
number of key contracts during the
year. Some notable ones include
the contract from the University of
Massachusetts, Medical School;
The State of California, Department
of General Services; and New York
State City Government.
Accel Frontline
Rank
Rank
2014-15
anked at #89, Trigyn

Technologies is a
new entrant in the
top 100 list. The
companys strategic
moves during the
year paid off, helping the company
clock a growth of 9%. The companys annual revenue in FY15 stood
at `493 crore against the previous
years revenue of `452 crore.
Even though the market witnessed
an economic slowdown in the US
and EU region, Trigyn Technologies
still managed to hold its own space
by focusing on the domestic market.
Over the last few years, Trigyn Technologies has built a strong partner
ecosystem. Trigyn has established
partnership with the leading technol-
15%
hennai-based Accel Frontline, an IT

services company,
witnessed a healthy
growth of 15% in
FY15. The companys growth was largely driven by the
key orders it bagged during the year.
In Q3 alone, Accel won around 30
new IT services contracts worth more
than `25 crore. Notables ones included a contract worth `4.5 crore from a
city corporation and contracts worth
`2 crore each from an IT solutions
provider based in Chennai and a Bengaluru-based defence company. Accel
Frontline was also appointed as the
warranty service partner for Foxconn,
the worlds leading manufacturer of
computer components and systems.
www.dqindia.com
Accel is seeing huge opportunity

for infrastructure management business and is focusing on tapping the
growing market. The company also
witnessed leadership changes in
the fiscal, with R Neelakantan being
appointed as the Chief Financial Officer (CFO).
During the fiscal, after receiving
investment from Japan-based CAC
Holdings, the company partly retired its high cost debts. Both the
companies are now working closely
to enhance the firms global IT services business in Japan and outside
Japan.
The companys promoters also recently decided to divest their stake to
achieve minimum public shareholding norms, as needed by the law.
Rank
Rank
0 9 1
LG India
2014-15
470
2013-14
381
23%
0 9 2
452
2013-14
307
47%

|
34 mn units in the Q4 FY14, a YoY

decline of -4.4%. According to IDC,
globally LG was ranked in the Top 5
in the quarter with 9.2% market share
worldwide. LGs biggest YoY gains
were in western Europe and AsiaPacific (excluding Japan) with 12.6%
and 6.6%, respectively. LGs monitor
portfolio is still going good despite
strong headwinds pulling the monitor market numbers down globally
but interestingly India is still showing
traction and LGs growth here is a
testimony to that.
Looking ahead, LG clearly needs
to face Samsungs domination in the
PC monitor arena and there are also
players like Dell and Lenovoboth
have grown impressively globally in
CY Q4 2014.
Team Computers
Rank
Rank
2014-15
or LG India, we have
factored in only the IT
products revenue and
over FY15, this segment did see good
growth. The biggest
chunk of revenues have come from
the monitor business, followed by
optical drives and Chrome-based offerings.
LG over the years has escalated its
stature in India, and one has seen its
consumer electronics play growing in
leaps and hence the IT products division oftentimes gets overshadowed in
the overall scheme of things.
As we look at some global monitor market stats, a March 2015 IDC
report said that the worldwide PC
monitor shipments summed up to
eam Computers had a

remarkable 2015 with
the company witnessing stellar growth. The
significant jump in
revenues has helped
the company secure a spot in the
DQ Top 100 list.
While the company saw healthy
traction in most customer verticals,
BFSI, and R&D emerged as the
key contributors to its impressive
growth. Further, around 35% contribution came from new customers and 25% from increasing wallet
share in the existing customers.
The companys strategy of capitalizing on its strong product line and rapid
expansion in newer brands/products
has started bearing fruits. It is also
www.dqindia.com
witnessing significant benefits from

new technology trends like mobility,
cloud, and BI, being an early investor
in these disruptive technologies.
Major chunk of its revenues came
from computers and devices at
39%, domestic IT services at 12%,
and datacenter equipment at 10%.
Over the years, the company has
grown into 25 office and support
locations, and 250+ supported locations. It has a workforce of more
than 1,100 employees. Further, the
company has key partnerships with
leading companies like HP, IBM, Microsoft, Lenovo, Acer, Apple, Amazon, Samsung, etc.
FY16 outlook also looks extremely positive with its strong reach and
robust product line.
July 31, 2015
127
the dq 100
Rank
Rank
0 9 3
2014-15
450
2013-14
550
-18%
0 9 4
439
2013-14
382
128
July 31, 2015
task of data management as they are

facing exponential data growth. As a
result of data growth, long periods of
downtime instances are increasing
by the day. The company took on to
the task of addressing challenges of
this kind and pitched on its proactive approach to cost-effective data
backup and assured recovery across
mixed IT environments. CA Technologies launched its new CA Arcserve
Unified Data Protection (UDP)helping businesses boost the availability
of critical systems.
In FY15, the company also took
on to mobility more aggressively and
launched its new enterprise focused
mobility solutions. It also entered into a
license agreement with SAP for its mobile device management solutions.
RS Software
Rank
Rank
2014-15
s we look at FY15,
it was DevOps that
dominated CAs agenda globally. The company in India too took
on the DevOps opportunity and made concerted efforts
to leverage its ages of software product expertise to address the complicated challenges impacting enterprise
computing. The company calls the
manifestation of this disruption as
application economy and thereby organizations need extraordinary agility
and elasticity when it comes to technologies powering IT organizations.
Clearly, the agenda CA Tech pursued over the year related to ones like
how can enterprises prepare themselves for managing the daunting
15%
S Software, a firm
focused on the digital payments space,
is being featured for
the first time in the
Top 100 list. The
firms revenue for FY15 stood at
`439 crore against `382 crore, with
an increase of 15% over the previous year.
In the backdrop of rapid growth of
eCommerce, the financial and payments technology market exploded
and RS Software leveraged this opportunity to expand its reach. With
digitization becoming a buzzword,
the company is hopeful to have
sustained growth in the next five
years.
Even as the eCommerce business
www.dqindia.com
grows manifold in India, there has

to be a parallel payments ecosystem that collects payments. With RS
Software looking to play the role of
an integrator between merchants and
the acquirer community, the future for
the company looks bright.
Being a niche player in the electronic payments industry, higher
adoption of electronic payments is a
trend that is likely to continue in the
near future. The potential of the company can be seen from the fact that it
is an integrator for Apple Pay, which
was launched recently.
focusing on expanding its reach and
strengthening its emphasis on marketing to small and medium-sized
firms.
Rank
Rank
0 9 5
S
2014-15
428
2013-14
458
-7%
0 9 6
411
2013-14
1,668
-75%

|
pursued emerging technology areas,

at the same time it stayed grounded
on its traditional areas of expertise
that is embedded systems and testing. If one needs to sum up Saskens
strategy over FY15, it clearly focused
on upping its competencies in existing areas of expertise and acquiring
new skills to tap on to the opportunities arising out of disruptions like IoT.
In Q1 FY15, the company
launched the Sasken-Acharya Innovation Lab (SAIL), with Acharya Institute of Technology (AIT). The center
was launched to ramp up the innovation quotient and seed skills for R&D
projects conceived by Sasken.
FY16 is expected to be a good
growth year given its early mover advantage in the emerging tech areas.
Zylog Systems
Rank
Rank
2014-15
asken is into the embedded R&D space and

since the last two years
its revenues have been
going south. This decline in the revenue can
be attributed to its restructuring and its
intention to focus on a select few segments. The strategy inked during FY14
helped Sasken consolidate its position
in FY15, notwithstanding the dip in revenues. Over the year, it aggressively
pursued opportunities in embedded
systems and IoT. For instance in the
IoT space, Sasken focused its energies on building proof of concepts. The
company believes that this will help in
creating next generation services to retail and insurance verticals.
While the company aggressively
hings went bad for

Chennai-based IT service provider this year
with the firms revenue
figures falling down
significantly. In stark
contrast to the milestone of `2,500
crore in FY13, the revenues for FY15
stood at `411 crore.
FY15 was a very bad year for the
company as ICICI Bank sold shares
pledged by the company in Zylogs
wholly owned subsidiary Zylog Systems Canada to Ikya Human Capital,
without Zylogs concurrence. As this
subsidiary (earlier known as Brainhunter) contributed nearly $90 mn
to the revenue, the action adversely
impacted the companys revenues,
leading to a major fall in revenues.
www.dqindia.com
During this fiscal year, shareholders also took a major decision of

voting in favor of removing the companys chairman and CEO Sudarshan Venkatraman from his post at
the companys 18th AGM, due to
mismanagement by the CEO in running the company and running it into
a debt of over `900 crore.
The company is going through liquidity crisis and there are reports
that IDBI Capital is helping the company with a restructuring plan. The
biggest challenge as of now is to
get the business back on track and
restore employee confidence. The
degrowth trend has also hiked the
attrition ratethe employee strength
has dropped to 697 from 5,435 in a
period of two years.
July 31, 2015
129
the dq 100
Rank
Rank
0 9 7
Subex
B
2014-15
361
2013-14
344
5%
0 9 8
353
2013-14
346
130
July 31, 2015
the key wins include a project from a

Malta-based firm, GO. As per the deal,
Subex will provide ROC revenue assurance and fraud management solutions.
Another key highlight was the reappointment of Surjeet Singh as the
Managing Director & CEO of the
company for a period of one year.
Apart from this, Subex along with
Mobily was awarded the prestigious GTB Innovation Award 2015 for
Business Service Innovation and has
also been named one of the Top 10
to Watch companies by the leading
analyst firm, Frost & Sullivan.
Subex today serves over 300 installations spread across 70 countries. This includes 33 of the worlds
50 biggest telecommunications service providers worldwide.
Nucleus Software
Rank
Rank
2014-15
engaluru-based Subex is a new entrant

in the DQ Top 100
list. For FY15, the
company which has
800+ employees and
a customer base of 200+, reported a
growth of 5% with revenues standing
at `361 crore.
Dealing in software services and
products with a strong focus on the
telecom domain, the company provides services in the areas of telecom
applications, network management,
quality of service measurement,
switch interface, call simulation, and
other systems software.
The company bagged some key
projects in the fiscal gone by that have
positively impacted its revenue. One of
2%
ucleus Software, a
provider of banking products to
the financial services sector, is a
new entrant in the
Top 100 list. The company posted
an annual revenue of `353 crore
against `346 crore in the previous
fiscal. Nucleus made strategic investments in sales and marketing,
introduced new products, and further strengthened its leadership
team to help in driving the transformation and continue the growth
momentum.
Relative to last year, the outlook
for the company in advanced economies is improving in comparison
to the growth in emerging markets
www.dqindia.com
and developing economies. During

the year, the company ventured into
new strategic marketsit now has a
customer base of more than 150 institutions in more than 50 countries.
The company has more than 1,500
employees on its payroll today.
In FY15, the company launched
FinnOne Neo, a product suite designed to manage end-to-end lending requirements of banking and financial services industry. Q4 was the
most successful quarter for the company and it won six new product orders and 12 product implementations
successfully went live. The company
also entered into a collaboration with
Red Hat that would enable it to offer a more cost-effective technology
platform.
Rank
Rank
0 9 9
Huawei India
O
2014-15
224
2013-14
170
32%
1 0 0
216
2013-14
197
10%

|
the central government along with private companies for tie-ups. Huawei
also has a global tie-up for smart cities with Infosys and Accenture and is
looking for more partners in India too.
For FY16, the company is targeting Internet service providers, media,
BFSI, and education verticals for its
enterprise solutions and services. In
the BFSI vertical, the company already
has footprint in the Bombay Stock
Exchange, ICICI Bank, UBI and is focused to expand it in a big way while in
the education sector, deals have been
signed with IIT-Guwahati, Manipal University, and Calicut University.
According to company officials,
once reaching the $100 mn mark, the
company will start manufacturing enterprise products in India itself.
SQS India BFSI
Rank
Rank
2014-15
verall in India, Huawei is a $1 bn plus

entity, however, we
have factored only
the enterprise revenues in this listing.
In FY15, the company demonstrated
impressive traction on the enterprise
side of things with a strong list of client wins that clearly ramped up its
enterprise revenues from this part of
the world. Its enterprise customers
have names like DEN Networks, Adidas, Taj Hotels, Tata Sky, Hathway,
QTel among others. As a part of its
enterprise vision, Huawei is targeting
PM Modis Digital India project and is
also looking for leveraging opportunities in the 100 smart cities projects
and is in talks with various states and
QS India BFSI (formerly

known
as
Thinksoft
Global
Services) calls itself
a specialist in financial and banking software testing services, and claims to
be the only independent testing service provider listed in India.
Coming into the rankings for the
first time as we look at the numbers,
the total income was `216 crore for
FY15 as compared to `197 crore
in the corresponding period of the
previous year, up by 10%. EBITDA
stood at `42 crore as compared to
`40 crore during the corresponding
period of previous year, an increase
of 5%.
The net profit for the company
www.dqindia.com
stood at `22 crore for FY15 as compared `30 crore in the corresponding
period of the previous year, decrease
of 28% due to exchange rate movement.
According to the company sources, the YoY increase in revenue is due
to its strong focus in the US region
and sustained growth from the banking segment.
SQS India BFSI is a specialist in
financial software testing with over
14 mn person hour track records for
Global 500 financial and insurance
organizations in the US, UK, Europe,
India, and Asia-Pacific.
Going ahead, the company is expected to continue to invest in the
US and Europe regions for consistent
growth.
July 31, 2015
131
LAST MATTER
Ed Nair
ednair@cybermedia.co.in
What Do Employees
Really Want
he recent study, Indias best companies to work for 2015, by The Economic Times and Great
Place to Work Institute, had five technology companiesRMSI, Google India, SAP Labs, Intuit
Software, and Pitney Bowes Software Indiain the top ranks. One wonders why some of the top
names like TCS, Cognizant, Infosys, Wipro, and HCL Tech did not make it to the list. In fact, they are very
conspicuous by their absence.
There are various ways to read into this. At the basic level, if the survey was an opt-in survey, these
companies might not have opted in. Opting in for the survey means that the company has to supply loads
of information to the survey team. They also have to provide the survey team unconditional and random
access to their employees. All of this can get messy at times.
As with any survey or poll, the methodology for collecting the data and its analysis at the end of it is
open to challenge and debate. Even going by the most basic theories of sampling, one will need to sample
a far higher number of TCS employees than an Intuit Software. This may turn the economics of the survey
on its head. Add to that, the geographical spread of TCS, the team sizes, the number of levels, and many
such dimensions also add to the complexity.
Unlike rankings of B-Schools or T-Schools that may guide students to choose the right institution, these
surveys are never used to choose a potential employer. If at all, they serve as a feel good factor for employees at these companies that they are in good hands.
Then, whats the use of these surveys?
These surveys serve as a great guide for other companies to understand the motivation of employees and
provide valuable inputs in designing their own HR policies. Some of the interesting findings from this survey are:
n Special and Unique Benefits: Differentiation from other companies in the industry through special and
unique benefits was voted by nearly 80% of the employees.
n Fair Pay: Nearly 76% of the respondents mentioned fair pay as a key qualification. Note that people
are not necessarily seeking the best paying companies.
n Willingness to share wealth and equal opportunities for recognition: This got 74% of the votes. Employees are not only seeking fair pay but they also seek a fair share in the profits. This means that employees are willing to put their skin in the game. Being recognized for their achievements in a democratic way
regardless of any affiliations is equally important.
n Reliability of managers: A whopping 82% voted that they would like to see congruence between the
managers words and actions. This means that managers dont have the luxury of being able to monopolize their power, they have to walk their talk.
These points are very insightful. It points towards fresh thinking and a new set of expectations that this
generation of employees hold. There are great lessons for organizations here.
Ed Nair
Editor-at-large
132
July 31, 2015
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VOL1-Rankings

VOL XXXIII No 14 I JULY 31, 2015

THE BUSINESS OF INFOTECH

Ingram Micro India

Cisco Systems India

Source: DQ estimates (Revenue in `crore) for FY15

Special Subscription offer on page 114

VOL XXXIII No 14 I JULY 31, 2015

THE BUSINESS OF INFOTECH

EXACTLY LIKE BEFORE.

Its not just change.

134 pages including cover

JULY 31, 2015

July 31, 2015

The Next 30 ............................. 68-102

The Next 50 ........................... 104-131

July 31, 2015

July 31, 2015

EDITOR AND GROUP EDITOR: Ibrahim Ahmad

SENIOR EDITORIAL CO-ORDINATOR: Manishika Miglani

SR ASST EDITOR: Onkar Sharma (Gurgaon), Smita Vasudevan (Bengaluru)

COVER DESIGN: Pramod S Rawat

SR. VICE PRESIDENT

July 31, 2015

dq Top 100 Rankings

July 31, 2015

July 31, 2015

July 31, 2015

he computing industrywhether hardware

tion through newer technologies,

As we look at the fiscal that went

PRODUCT OF THE YEAR

July 31, 2015

we are seeing. So, in a way, India in

CFOand the degree of influence

Guiding Principles for DQ Top 20

While on one hand, the decisionmaking scenario is changing by the

As we look at the top 5 companies

the biggest upset is the growth. TCS

Even for a company like TCS,

July 31, 2015

July 31, 2015

Looking at the vertical play of the

well as enterprise segment with the

While FY15 was challenging on many

Tata Consultancy Services

Cognizant Technology Solutions

Cisco Systems India

APC by Schneider Electric India

Ingram Micro India

Tata Consultancy Services

July 31, 2015

he year went by for

at the defining Q4 FY15, it did manage to grow its Q4 revenues by 12%

ness environment and how difficult

Source: DQ estimates revenue (`crore)

form. The company terms this as an

jor uptick and hovered in single-digit

Cognizant Technology Solutions

July 31, 2015

in its growth which came down

an 18% growth in itself is indeed

With a multipronged client

Source: DQ estimates revenue (`crore)