Tech Mahindra: History, Latest Updates, Milestones, Subsidiaries & Share Price
INTRODUCTION
Tech Mahindra is a global information technology company that offers a wide range of services, including consulting, digital transformation, and business process outsourcing. Headquartered in India, it operates in over 90 countries, serving clients across industries like telecommunications, healthcare, finance, and more. With a focus on innovative solutions, Tech Mahindra leverages technologies like AI, cloud computing, and IoT to drive efficiency and growth for businesses. It's a part of the Mahindra Group, a conglomerate with diverse business interests. Tech Mahindra's commitment to cutting-edge technology and client success has solidified its position as a leading player in the IT services sector.
TECH MAHINDRA MOVES IN 2024:
February 2024
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Tech Mahindra shares have provided returns up to 97% in the last 5 years period.
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Tech Mahindra have successfully implemented MVNE (Mobile Virtual Network Enabler) platform for Sunrise Telecom Operator from Swiss
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Swiss manufacturer KWC has selected Tech Mahindra as their strategic partner to drive their business transformation
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Mr. Mohit Joshi has been appointed as the new MD and CEO of Tech Mahindra .
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Mr. Dilip Venkatraman has been appointed as the SVP & business head of Media and Entertainment.
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Tech Mahindra is working on a project called The Indus Project in building an open-source local language AI model to serve the needs of 25% of the world's population.
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Tech Mahindra has appointed Mr. Richard Lobo as CPO of Tech Mahindra
January 2024
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As per Q3 results of Tech Mahindra, the operational revenue has dipped by 4% year on year from Rs. 13734.6 crore in Q3FY2023 to Rs. 13101.3 crore in Q3FY2024. Also, the net profit declined by 60% to Rs. 510.4 crore. This has resulted in the fall of Tech Mahindra share price by 5% to become the worst Nifty 50 performer.
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Tech Mahindra has announced the launch of i.Riskman , an Environmental Social Governance (ESG) risk assessment platform which will empower organizations to handle climate related risks
December 2023
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Tech Mahindra has been recognized as the 1st among top 25 sustainable IT companies in India in Business World Sustainability Conclave in 2023
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Tech Mahindra has announced the launch of its crowdsourcing platform which will enable the non-standard temporary workers to collaborate with organizations through micro jobs.
November 2023
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Tech Mahindra in collaboration with Amazon Web Service has built a cloud platform for global sporting enthusiasts.
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Mr. Peeyush Dubey has been appointed as the CMO of Tech Mahindra.
The first GCL season, a partnership of FIDE and Tech Mahindra, began with a chess flash mob at Mumbai's Bandra Fort. The event leads up to the tournament from June 21st to July 2nd, 2023, at Dubai Chess and Culture Club.
Tech Mahindra and Mahindra Lifespace Developers introduced an innovative platform on April 7th, 2023. This collaboration uses Epic Games' Unreal Engine 5 to offer customers immersive 3D experiences, transforming home-buying with lifelike home representations.
In 2023, CIOs will reshape businesses for digital challenges, adapting leadership and infrastructure. They'll address remote work needs, invest digitally, and create flexible organizations to capitalize on evolving demands.
Evolution of Tech Mahindra: From Past to Present:
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1986: Tech Mahindra is founded as a joint venture between Mahindra & Mahindra and British Telecom (now BT Group).
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1990s: Tech Mahindra begins providing software services and IT solutions, gradually expanding its client base.
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2000s: The company experiences rapid growth, focusing on telecommunications and enterprise solutions.
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2006: Tech Mahindra goes public with its initial public offering (IPO).
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2010s: The company continues to diversify its services, embracing digital transformation, analytics, and cloud computing.
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2013: Tech Mahindra acquired Satyam Computer Services, rebranding it as Mahindra Satyam.
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2015: The merged entity becomes Tech Mahindra, consolidating its position as a leading IT services provider.
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2020s: Tech Mahindra intensifies its focus on emerging technologies like AI, IoT, and blockchain, driving innovation across various industries.
Name |
TECH MAHINDRA |
|
Founded year |
1986 |
|
Founding chairman |
Anand Mahindra |
|
Headquarters |
Pune |
|
Sector |
IT Sector |
|
Current chairman |
Mohit Joshi |
Major subsidiaries |
Tech Mahindra, Mahindra & Mahindra Limited, Mahindra Finance, Mahindra Lifespace Developers Limited, |
|
revenue |
53,255.2 crores INR |
Geographical presence |
Tech Mahindra has a global footprint across 90+ countries, with offices in North America, Europe, Asia-Pacific, and beyond. |
|
NSE code |
TECHM |
|
BSE code |
532755 |
TIMELINE OF TECH MAHINDRA:
Year |
Fact |
Description |
|
1986 |
Founded |
Tech Mahindra is established as a joint venture between Mahindra & Mahindra and British Telecom. |
|
2000s |
Expansion into IT Services |
Tech Mahindra expands its services to include telecommunications and IT solutions, becoming a prominent player in the IT industry. |
|
2006 |
Initial Public Offering (IPO) |
Tech Mahindra goes public with its IPO, marking a significant milestone in its growth and financial recognition. |
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2010s |
Diversification and Digital Focus |
The company diversifies further, embracing digital transformation, analytics, cloud computing, and emerging technologies to cater to evolving industry demands. |
|
2013 |
Acquisition of Satyam |
Tech Mahindra acquired Satyam Computer Services, later rebranding it as Mahindra Satyam, solidifying its position as a global IT services provider. |
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2015 |
Rebranding and Identity |
The merged entity becomes Tech Mahindra, simplifying its brand identity and emphasizing its comprehensive IT services portfolio. |
|
2020s |
Innovation and Technological Advancements |
Tech Mahindra intensifies its focus on emerging technologies like AI, IoT, and blockchain, driving innovation across various industries and transforming businesses through digital solutions. |
|
Present |
Global Presence and Leadership |
Tech Mahindra maintains a global presence, operating in over 90 countries, with a diverse portfolio of services that contribute to its status as a leading player in digital transformation, consulting, and IT services. |
Inside Tech Mahindra Group: Exploring Subsidiary Ventures:
Tech Mahindra
Corporate Actions: For FY 2023, Tech Mahindra declared a 1000.00% equity dividend (Rs 50/share), resulting in a dividend yield of about 4.15% based on the current share price of Rs 1203.65.
Main News: Tech Mahindra appointed Atul Soneja as COO, following Mohit Joshi, former Infosys president, who became CEO and MD designate.
Mahindra & Mahindra Limited
Corporate actions: Mahindra and Mahindra announced a 325.00% equity dividend (Rs 16.25 per share) for FY 2023, resulting in around 1.05% dividend yield at the current share price of Rs 1546.60.
Main News: The 77th AGM of the Company will be held on August 4th, 2023, through virtual means, following regulatory guidelines.
Mahindra Finance
Corporate actions: Mahindra & Mahindra Financial Services Ltd. declared a dividend of ?6 for the quarter ending March 2023, resulting in a dividend yield of 3.33%.
Main News: Mahindra & Mahindra Financial Services Ltd. held its latest board meeting on July 28, 2023, to discuss Quarterly Results.
Mahindra Lifespace Developers Ltd
Corporate actions: For the quarter ending March 2023, Mahindra Lifespace Developers Ltd announced a dividend of ?2.30 per share, which equals a dividend yield of 0.81%.
Main News: WRI India, AEEE, EcoCollab, and Mahindra Lifespace Developers have joined hands for a "Decarbonisation Business Charter."
Mahindra Holidays & Resorts India Ltd
Corporate actions: On September 8, 2021, Mahindra Holidays & Resorts India Ltd. announced its latest bonus, which was given in a ratio of 1:2.
Main News: Mr. Arun Nanda, who was a Director and Chairman of the Company, has stepped down from his position after the 27th Annual General Meeting.
Mahindra Logistics Ltd
Corporate actions: Mahindra Logistics Ltd declared a dividend of ?2.50 per share for the period ending March 2023, resulting in a dividend yield of 1.19%.
Main News: On August 3, 2023, Mahindra Logistics Ltd put money into creating and renting out 75,000 square feet of warehouse space in and around Lucknow.
Tech Mahindra Subsidiaries NSE/BSE: Current Share Prices
COMPANY NAME |
SECTOR |
SHARE PRICE LINK |
|
Tech Mahindra |
IT Sector |
|
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Mahindra & Mahindra Limited |
Automotive sector |
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Mahindra Finance |
Financial Sector |
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Mahindra Lifespace Developers Ltd |
Construction Sector |
|
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Mahindra Holidays & Resorts India Ltd |
Tourism & Hospitality sector |
|
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Mahindra Logistics Ltd |
Logistics sector |
Achievements & Milestone:
Year |
Achievements and Milestones |
|
2022 |
The ARISE Program won the Best Assistive Technology CSR Initiative of the Year - Enablers category at the ATF Awards 2022. |
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2022 |
The SMART Program received the Mahatma Award 2022 in the category of Social Good & Impact, specifically for promoting 'Decent Work and Economic Growth'. |
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2022 |
The CSR Universe Social Impact Awards 2022 recognized the project in the "differently abled" category for its social impact. |
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2021 |
The COVID Relief & Rehabilitation Program received the SHRM HR Excellence Award 2021 for Excellence in Community Impact at the SHRM HR Excellence Awards. |
CONCLUSION
Tech Mahindra is a leading global technology company known for its innovative solutions and digital transformation expertise. With a commitment to excellence, it has consistently delivered cutting-edge services to clients worldwide. Through its diverse portfolio and skilled workforce, Tech Mahindra continues to drive technological advancements and create significant value in the digital landscape.
Frequently Asked Questions:
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What is the current price of Tech Mahindra?
You can check tech mahindra share price on Enrich Money's stock analysis page.
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When was Tech Mahindra founded?
Tech Mahindra was established on October 24, 1986.
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Where is Tech Mahindra headquartered?
The headquarters of Tech Mahindra are located in Pune, Maharashtra, India.
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What industries does Tech Mahindra serve?
Tech Mahindra serves industries such as telecommunications, healthcare, finance, and more.
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What does Tech Mahindra focus on?
Tech Mahindra focuses on digital transformation, innovation, and IT consulting.
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