Cash is King : 10 Indian IT Companies Sitting on Large Piles of Cash

A look at Indian technology companies that have accumulated substantial cash reserves
By Eric Ernest
Slideshow Jun 6th 2012
  • A large sum by any standard, ask any Greek. Looked at differently, the aggregate cash that the 10 Indian IT companies are sitting on is more than the GDP of countries such as Moldova and Nicaragua.

  • We start off our list with the respectable cash & cash equivalent figure that this New Delhi headquartered company - an erstwhile constituent of the NIIT group - has accumulated.
    Source: Cons. Balance Sheet, March 31, 2012

  • Amassing around 35% more cash than it's predecessor, this Chennai based company does pretty well for itself and takes the next position in our list.
    Source: Statement of Cash Flows, March 31, 2012

  • Based out of Hyderabad, this company’s cash balance, including liquid investments, represents almost 123% of the cash value that Polaris has.
    Source: Q4 Results - FY 2011-2012 Press Release, March 31 2012

  • Having slightly higher reserves than the previous entry, Infotech, this Mumbai headquartered company's cash reserves are sufficient to get it to the seventh position.
    Source: Cons. Balance Sheet, March 31 2012

  • We take a big leap in cash value and land at this Noida based company, whose overall cash reserve is an aggregate of it's cash, FD with Banks, Deposits with HDFC, and Investment Securities, available for sale.
    Source: Third Quarter FY 2012 Results, March 31, 2012

  • This independent unit of Hewlett-Packard Co takes the fifth position, having accumulated almost 32% more cash than the sixth place entry.
    Source: Consolidated Balance Sheet, April 30, 2012

  • Part of the Mahindra Group, this Hyderabad based company does well enough for a fourth spot, despite it’s scandal ridden past.
    Source: Consolidated Statement of Assets and Liabilities, March 31, 2012

  • This subsidiary of Tata Group almost triples the cash value from our earlier entry, Mahindra Satyam. It's cash & bank balance is the sum of the cash, short term bank deposits, and earmarked balance with banks.
    Source: Cons. Cash Flow Statement, March 31, 2012

  • Yet another one of the Indian IT giants we have featured in this list, the Azim Premji led organization comes in at a second position, possessing an amount that is slightly more than the GDP of Djibouti.
    Source: Consolidated Interim Financial statement, March 31, 2012

  • Accounting for almost half of all the cash that the 10 companies listed here account for, this Bangalore headquartered Indian IT giant is quite literally the king of the 'IT' hill when it comes to cash reserves.
    Source: Annual Report 2011- 2012, March 31, 2012


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