The above graph represents the Tech Mahindra client contribution to quarterly revenue, starting from fiscal Q1 2005 to the recently completed quarter. Interestingly, over 42% of Tech Mahindra’s quarterly revenue in FY Q3 2020 was generated by its top 20 clients. That’s nearly 1.9% YoY decline in revenue contributed by top 20 clients.
The Indian IT firm has 964 global clients as of December 2019.
|Source||Tech Mahindra Limited|
|Note||Tech Mahindra financial year starts from April 1st|
On the other hand, the contribution of Tech Mahindra’s top 10 clients to its total revenue declined from 31.6% in FY Q3 2019 to an all-time low i.e. 31% in FY Q3 2020.
As the graph shows, Tech Mahindra business from its top 5 clients also declined during the 12-months ended December 2019.
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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