Will Satyam be able to bring back its lost shine?
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Will Satyam be able to bring back its lost shine?

By SiliconIndia   |   Wednesday, 29 September 2010, 02:51 Hrs   |    22 Comments
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Will Satyam be able to bring back its lost shine?
Hyderabad: After two years, Mahindra Satyam is going to announce its first financial statements. Now, the employees, investors and customers are keeping their fingers crossed and are expecting that the company will be able to get new business and clarify about the company's financial health, reports Sreekala G and Pankaj Mishra of the Economic Times.

"For me, tomorrow is the moment of truthwe will have something to show to our customers , both existing and potential," said Akshay Prakash, a 33-year-old project manager at Mahindra Satyam. Since two years, Satyam has been struggling to retain customers and its key employees. The company's SAP practice which was serving top customers like GE, GM and Nestle has been among the worst hit. The employee count from January 2009 has come down to 800 professionals from initial count of around 4,500 staff. Even the unit head Manish Mehta had quit to join Patni.

"Financials are key to business and I believe that is the last tick mark left for the new management to do. It will open floodgates and we are ready to face it. For us, numbers are just another milestone. It will give more clarity to our customers and will help rebuild confidence and attract new talent to the company,"said Bhanu Murthy Sattiraju, Vice-President of the company's digital convergence business unit.

Investors and experts hope that the new management would give a clear disclosure of quarterly results after two years. In January 2009, Satyam founder B Ramalinga Raju admitted to a fraud of inflating the company's revenues to the tune of 7,136 crore. Later, Tech Mahindra acquired a 43 percent stake in the company through a government-controlled auction.

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Reader's comments(22)
1: Satyam and its satyam employees,mgt, and as a whole r runners. they r moving ahead.I would love to join u guys.If it happens then Beaware other it companies. its satya(truth).
Posted by:santosh jaiswal - 30 Sep, 2010
2: From the comments from the people, proves theor belief in Satyam and it is still in the race and can compete with other IT majors(If it is a fair play). Congrats to the Government of India. People believed in Satyam. Long live satyam
Posted by:JAK - 30 Sep, 2010
3: ya sure satyam will going to rock in few years... al the best satyam
Posted by:matheen ahmed - 29 Sep, 2010
4: Satyam will shine.. And it is the best time to be with that company if U want your career to rise high. Logically speaking at this time if some company is trying hardest to survive & Shine in IT then it is satyam.
If U r in TCS, CTS or whatever the company maybe You join this company and U will be rising high with itself.

Hatsoff to those 800 people who didn't leave Satyam @ Tough time. They are te people, really hats off.
Posted by:Ranabir Bhattacharjee - 29 Sep, 2010
5: All the best for 'Satyam and satyam guys'

Posted by:vijay - 29 Sep, 2010
6: Al da Best Vishay....
Posted by:Rohit... - 29 Sep, 2010
7: All the best for future
Posted by:vidya - 29 Sep, 2010
8: Champions are not super natural.They just fight one more second extra when others quit. Many times just one more effort gives you the victory....Humps and Dumps are quite natural.. Be confident success will be yours. For all Satyam Staff.. All the very best.
Posted by:Nirmal Kumar.Chitta - 29 Sep, 2010
9: Wishing Satyam and Indian IT industry a grand revival and brand rejunevation.
Posted by:Venkat S Iyer - 29 Sep, 2010
10: All the best SATYAM. Hope the shine would come back in vain.
Posted by:Nivas - 29 Sep, 2010
Posted by:PRIYANKA - 29 Sep, 2010
12: All the best Satyam
Posted by:Spoorthi - 29 Sep, 2010
13: All the best SATYAM
Posted by:Guest - 29 Sep, 2010
14: Wish u a very good luck
Posted by:anonymous - 29 Sep, 2010
15: Satyam will do it. Full faith in it.ALL THE BEST...SATYAM
Posted by:Jas - 29 Sep, 2010
16: No one can save satyam now..they have ruined careers of more than 5000 students including 08/09 batch. so tit for tat happening with them...
Posted by:Gurpreet Singh - 29 Sep, 2010
be +ve man!Its good that u learn t something worst can happen in early stage.
Ramesh Replied to: Gurpreet Singh - 29 Sep, 2010
18: Nothing succeeds like success.Once a negotiator always a negotiator.Nothing on earth can stop such successful business to repeat.If all the negotiations of business with corporate client are transparent and above the table, then most of the so called Successful firms will never survive. But Sathyam has a great background of negotiations of business with world conglomerates hence it is certain to spring back.Money being the religion of today, with every man with a price tag be it an individual or a corporate or a Government any thing is possible under the sun.Wishing all the best
Posted by:RVGIYER - 29 Sep, 2010
19: All my best wishes are with Satyam.
Posted by:K.S - 29 Sep, 2010
20: Satyam has always been a good company, with like minded and motivated individuals and team force. The fiasco was only due to ill-fated wishes of some of the top rankers...

So, even if 800 out of 4500 are left, I am 100% confident that they will bring the same glory with the hard work. Even if this FY results shakes, they will recover themselves very fast. Investors and potential clients, please give MS a Try.
Posted by:Prasanna - 28 Sep, 2010
21: Just wish satyam good luck and hope they gain new business, and clarify about the company's financial health, and also whish them good luck in acquiring success and nane.
Posted by:wellwisher - 28 Sep, 2010
then 800 out of 4500 working nw. so fr their developmnt thy 'll recruit anymoore
sasa Replied to: wellwisher - 02 Oct, 2010