| Type | Public |
|---|---|
| Traded as | BSE: 517326 |
| Headquarters | New Delhi, India[1] |
| Key people | S Ramadorai (Chairman) R. Ramanan (CEO & MD) |
| Products | GENISYS Configurator FACTS MACH TC4 Banking |
| Services | IT Consulting IT Services Outsourcing BPO Software Products Embedded Systems |
| Revenue | 876.169 crore (US$166.47 million) (2010) |
| Net income | 143.227 crore (US$27.21 million) (2010) (Profit After Tax) |
| Parent | Tata Group |
| Website | Official Website |
CMC Limited is an Information Technology services, consulting and software company having its Headquarters in New Delhi, India.[1][2] CMC is part of the TATA group and is a subsidiary of Tata Consultancy Services. CMC was incorporated on December 26, 1975, as the 'Computer Maintenance Corporation Private Limited'.[3] The Government of India held 100 per cent of the equity share capital. On August 19, 1977, it was converted into a public limited company. In October 2001, CMC was privatized by the Government of India,[4] in a sale to India-based Tata Consultancy Services (TCS), the largest software services company in Asia. It also feature on top ten companies in India.[5]
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During the year 1978, when IBM wound up its operations in India, CMC took over the maintenance of IBM installations at over 800 locations around India and subsequently,[6] maintenance of computers supplied by other foreign players.
CMC visualized the need for total IT system solutions in 1980 and thus aligned its focus with the government's thrust on IT development activities. 'Project Interact' (International Education and Research for Applications of Computer Technology), a United Nations project involving design, development and systems-engineering of real-time, computer-based systems dedicated to applications in the areas of power distribution, railway freight operations management and meteorology was a significant milestone in CMC transition from a hardware maintenance company to a complete end-to-end IT solutions provider.
Later CMC forayed into systems integration, interfacing, installation, commissioning, software development, as well as education and training, on an ongoing basis. CMC's R&D facility was set up in 1982 at Hyderabad,[7] to undertake competency development in niche areas in the frontiers of technology.
In tune to reflect diversified business activities, CMC renamed itself to 'CMC Limited'(Computer Maintenance Corporation) in August 1984.
CMC Limited has the credit of introducing computer applications at a mass scale in the late 80s with its design and deployment of Indian Railways Reservation System IMPRESS (Integrated Multi-train Passenger Reservation System) in New Delhi on October 15th, 1985. It went on to become a huge success eventually deployed all over India serving over half a million transactions every single day and cutting wait times for passengers drastically. CMC also followed it up with the design of ARTS (Advanced Railway Ticketing System) for unreserved ticketing.
Following a spurt in the global demand for IT services in the early 1990s, particularly in the United States, CMC decided to expand its operations and market its product and service offerings in these markets. Towards this end, in 1991, CMC acquired Baton Rouge International Inc, USA (it was subsequently renamed CMC Americas, Inc, in 2003), one of the first cross-border acquisitions by an Indian IT firm.
In 1992, the Indian government divested 16.69 per cent of CMC's equity to the General Insurance Corporation of India and its subsidiaries who, in turn, sold part of their stake to the public in 1996. In 1993, CMC's shares were listed on the Hyderabad Stock Exchange and the Bombay Stock Exchange (BSE).
To service and develop its clientele in the UK and Europe, CMC opened a branch office in London, in 2000.[8] The next year, the government divested 51 per cent of CMC's equity to Tata Sons Ltd, through a strategic sale, and CMC became a part of the Tata group.
In line with its strategy of offering its products and services globally, in 2003, CMC opened a branch office in Dubai to tap the hitherto unexplored markets of West Asia and Africa.
In 2004, the government divested its remaining 26.5 per cent stake in CMC to the public.[9]
CMC has 18 offices, 150 service locations, 520 non-resident locations and over 10,551 employees worldwide. CMC Americas, a subsidiary, services clients in the US, while the branch offices in the UK and Dubai market products and services in Europe, Africa and the Middle East.
[2]: History of CMC Limited