28. DOWN WITH : The Downturn

Tata Elxsi, the product design arm of the Tata Group, clocked an agency turnover of Rs 67 crore in 2001-02. This is a decline of 18 percent when compared to its 2000-01 revenues of Rs 82 crore. This was despite the fact that the overall revenue had a fall of only four percent. 

However, the biggest fall for the company was in terms of its ranking. While last year it held the #16 position, it had to contend with #28 slot this time around. According to the company, what impacted its negative growth was the reluctance in customer spending from several industry verticals. A bulk of Tata Elxsi's revenues came from the software business, and the rest from the domestic systems integration business. 

The company consciously reduced its dependence on domestic business because of its low-margin yields. However, it sharpened its focus on software services. 

The company is also planning to tap the overseas market for offering systems integration services. "We are planning to tie up with overseas companies in this regard," says Madukar Dev, CEO.