The above graph represents the number of Tech Mahindra million dollar clients by quarter, starting from fiscal Q1 2005 to the recently completed quarter. The number of global active clients of Tech Mahindra reached 964 during fiscal Q3 2020. Interestingly, about 446 clients contributed more than $1 million in Tech Mahindra quarterly revenue in FY Q3 2020. The company added 30 clients during the 12-months ended December 31, 2019.
|Source||Tech Mahindra Limited|
|Note||Tech Mahindra financial year starts from April 1st|
This is followed by 164 clients and 83 clients who have contributed over $5 million and $10 million in revenue, respectively. Total 7 new clients were added in $5 million revenue bracket. While the company witnessed loss of nearly 5 clients in $10 million revenue segment.
Surprisingly, the Indian IT firm added only 4 new clients in $20 million and $50 million revenue bracket.
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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