The above graph represents the number of Tech Mahindra active clients by quarter, starting from fiscal Q1 2005 to the recently completed quarter. As of December 2019, the Indian IT firm has 964 active clients, that’s including Fortune 500 companies. That’s nearly 3.1% YoY growth in the number of active clients of Tech Mahindra.
|Source||Tech Mahindra Limited|
|Note||Tech Mahindra financial year starts from April 1st|
One must note that Tech Mahindra’s revenue and number of active clients, both have increased handsomely over the quarters.
The major surge in the number of active clients witnessed by the company was in FY Q1 2014. This was primarily due to the merger of Tech Mahindra and Mahindra Satyam, which was completed in June 2013. The number of global partners of Tech Mahindra increased from just 130 in FY Q1 2013 to a whopping 567 in FY Q1 2014.
About Tech Mahindra Limited
Tech Mahindra Limited (NSE: TECHM) is an Indian multinational subsidiary of Mahindra Group, headquartered in Pune, Maharashtra. On 24 October 1986, Mahindra Group entered the telecom IT services space through Mahindra British Telecom (MBT) – a joint venture with British Telecom, UK.
In 2005, the company had began its first global development center outside India (in Melbourne).
In February 2006, MBT changed its name to Tech Mahindra Limited.
In April 2009, Tech Mahindra acquired 51% controlling stakes in Satyam Software Services for Rs 2,889 crore. Later, in June 2009, Satyam got rebranded as Mahindra Satyam. On March 21, 2012, Tech Mahindra announced its plan to merge with Mahindra Satyam. Later on June 24, 2013, Tech Mahindra and Mahindra Satyam merger completed to become India’s fifth largest software services company with a turnover of US$2.7 billion.
With $11.3 billion market cap, Tech Mahindra ranked #1543 in the list of Forbes Global 2000: World’s largest public companies.
As of March 2020, the Indian IT company has 964 global partners (including Fortune 500 companies), and over 130,839 employees across 90 countries.
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