Mahindra Satyam Limited
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BSE Code:
500376
NSE Code:
SATYAMCOMP
Business Profile
Business Profile
Satyam Computer Services (SATYAM), established on Jun. 24, 1987, is a global consulting and information technology (IT) services company offering an array of solutions to key verticals and horizontals.
A wide range of IT solutions are offered to meet today`s complex business challenges. The industry-best end-to-end solutions cover application services, business intelligence and performance management, business value enhancement, consulting and enterprise solutions, infrastructure management services, business process outsourcing, integrated engineering solutions, manufacturing execution and laboratory information management systems, oracle solutions, product and application testing, product lifecycle management, systems, applications and products solutions, supplier relationship management, supply chain management, and six sigma consulting. The depth and breadth of the company`s solution offerings is enabled by strategic alliances with technology vendors and system integrators.
With development centers at Bangalore, Bhubaneswar, Chennai, Gurgaon, Hyderabad, Mumbai, and Pune in India and several other strategic locations across the globe, offices have been set up offices in Africa, the Americas, APAC countries and Europe. Recent corporate awards include UK Trade & Investment India (UKTI) Business Award for corporate social responsibility and the Golden Peacock Global Award for Excellence in Corporate Governance. In learning and development, the company has been ranked # 1 in the American Society for Training and Development BEST Award, 2007.
Late in 2008, a partnership was forged with K2 to provide business process management solutions and tied up with Indian Institute of technology, Hyderabad, for critical research projects. The company went on to extend a strategic alliance with MSC Software Corporation offering specific services and offerings in support of its Sim Enterprise solutions to global manufacturing customers. RelWare`s OneRecord solution for healthcare services will be customized with professional services offered across the globe. An alliance has also been formed with Sciformix Corporation to deliver end-to-end and data management services for Pharmacovigilance. Collaboration with International Sematech Manufacturing Initiative would help develop ConFy - a next-generation advanced software tester solution.
Several acquisitions have been made over a period of time to enhance business such as S&V, a leading European supply chain management consulting firm; Bridge Strategy Group LLC, a strategy and general management consulting firm; Citisoft, a highly specialized European business and systems consulting firm; Caterpillar`s market research and customer analytics operations; NITOR, a niche consulting firm providing infrastructure management services; and Knowledge Dynamics, a high-end consulting solutions provider in business intelligence. Satyam BPO, another subsidiary, focuses on high-end services at the core of a customer`s organization and has been ranked No.2 BPO globally in Brown-Wilson Group`s 2008 Black Book of Outsourcing.
The registered office is located at Mayfair Center, 1st Floor, 1-8-303/36, S.P. Road, Secunderabad-500003, Andhra Pradesh.
Recent Developments
13-APR-09
Tech Mahindra has emerged as the highest bidder for the company at a price of Rs 58 a share.
23-MAR-09
The company announced that it has been awarded a contract to implement SAP Business All-in-One solutions for Vijay Dairy and Farm Products.
09-FEB-09
Scandal hit the company has been provided a Rs 3 billion loan each by state-owned IDBI Bank and Bank of Baroda (BOB) respectively, as per media reports.
07-JAN-09
The company announced that the founder and the chairman of the company, Ramalinga Raju has resigned from the board.In a letter written to the board, the chairman, along with providing details of the irregularities, mentioned that every attempt was made to eliminate the below mentioned gaps and the aborted Maytas acquisition deal was the last attempt to fill the fictitious assets with real ones.For second quarter of the financial year 2008-09, the company reported revenues of Rs 27 billion and an operating margin of 24% as against the actual revenues of Rs 21.12 billion and actual operating profit margin (OPM) of 3%. This resulted in artificial cash and bank balances going up by Rs 58 billion in Q2 alone. Inflated (non-existent) cash and bank balance of Rs 50.40 billion (Rs 53.61 billion was reported in books). An accrued interest of Rs 3.76 billion which is non-existent. An understated liability of Rs 12.30 billion on account of funds arranged by the chairman, Raju. An over stated debtors` position of Rs 4.90 billion (as against Rs 26.51 billion reflected in books).The gap in balance sheet had arisen purely on account of inflated profits over a period of last several years.