Financial Daily from THE HINDU group of publications
Saturday, Jul 20, 2002
CMC targets Rs 1,000-cr turnover by next fiscal
V. Rishi Kumar
HYDERABAD, July 19
CMC Ltd, a leading systems integrator in the country with a significant business from the domestic market, is targeting a total turnover of about Rs 1,000 crore by next fiscal.
The company also plans to increase its exports to about 35 per cent from 20 per cent now and is working towards CAGR of about 35 per cent. The Chief Executive Officer and Managing Director of CMC Ltd, Mr S.S. Ghosh, told Business Line that the integration process post merger with the Tata Consultancy Services is underway and this will bring in significant synergies.
However, CMC's expansion plan will continue and the company expects a growth of about 25 per cent this fiscal.
On integration with TCS post merger: We are an independent company and continue to work independently. Our thrust area will continue to be the same. CMC has developed a lot of expertise in the domestic market and addresses verticals like banking, transportation, power, mining and defence sector.
We are mapping each other products and services and assessing competencies to leverage capabilities and see what we can do to bring in a better value proposition for the customers.
The merger with TCS will help us tap the niche presence of TCS covering larger geographies, better network, larger pool of resources. The integration process is at all levels.
On new areas: CMC is a major force in IT education training covering various aspects. To this we are in the process of adding capabilities in networking, e-security and embedded systems through our association.
CMC is building capabilities in new technologies particularly in the areas of VLSI design and electronic-CAD areas.
On growth plans: CMC has changed and adapted to the changing scenario quite fast and we are now looking at addressing new areas such as VLSI and e-CAD, embedded systems.
On geographical spread: We have decided to expand the geographical reach. The company is further planning to grow in Europe and Asia and is eyeing offices in the Far East, Middle East and Africa. We also plan to increase the number of people in North America.
From the current 20 per cent of revenues coming from total exports, we are keen to increase total exports to about 30-35 per cent in the next two-three years.
On new business opportunity: The changed economic scenario has brought in new business models particularly outsourcing within the country. With our wide range of technology capabilities, we are looking at the potential of the Government and corporate houses outsourcing their entire business process management.
The new services delivery model both of the Government and large corporates, including that of the large Tata group companies could offer huge business opportunity.
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