March 27, 2017
India Cements Ltd, which had developed an ‘inhouse’ ERP with Coromandel Infotech India, has hived off the IT vertical and a separate firm Tekplay Systems Ltd has been formed, a top official said.
Prabhuram Ramanathan, N Srinivasan (C) and R Srinivasan
Tekplay works with Fortune 500 companies to unlock the potential of Digital through strategies, technologies and tools. The service lines of Tekplay include Digital Technology Consulting, Enterprise Solutions, Business Analytics and Digital Workforce.
One of Tekplay’s biggest clients is India Cements Ltd. N Srinivasan, Vice Chairman & MD, India Cements who unveiled the brand, said, “When India Cements expanded capacity in early 90s, it had developed an “in-house” ERP with Coromandel Infotech India Ltd (C2il). Our association with C2il began in early 2000 and since then they have been maintaining our entire IT infrastructure. The reason to form a separate IT initiative is that it will help govern our cement business.”
Tekplay Systems Executive Director Prabhuram Ramanathan said the information technology vertical under the Coromandel Infotech was separated and a new entity under Tekplay Systems was formed. He said, “I will hold 30 per cent stake while the remaining capital will be infused through private equity and high net worth individuals.”
Srinivasan said, “Tekplay, spearheaded by Prabhuram and his team, will take over the business verticals of C2il. It is looking to tap the big opportunity in the sphere of digital business transformation as part of foraying into new technology platforms. India Cements, as a long- standing client of C2il, look forward to continuing the relationship with Tekplay and be part of their business journey.”
The global market size of IT services stood at $220 bn as of 2017 and is expected to touch $431 bn in 2020. Ramanathan said, “Investments will be around $57.50 million in next two to three years.” On expansion of Tekplay, he said the firm would be based in Chennai with an employee base of 400 serving global clients.
“Our plan is to achieve revenue of $100 million by 2020 and increase our employee base to 2,000. Current revenue is about $20 million,” he said. The company has about 40 clients globally and would set up two development centres at San Jose and Atlanta in US, shortly, he sums up. Its revenue breakup currently involves 20 pc digital + 80 pc others, while the 2020 forecast stands at 70 pc digital + 30 pc others.
Tekplay is a leading digital business transformation company. We work with Fortune 500 companies to unlock the full potential of Digital through powerful strategies, technologies and tools – imparting to their businesses a razor sharp awareness, an analytical approach to decision making and agility to their business operations. At its core, TekPlay values integrity, collaboration, excellence and innovation. Our commitment to these tenets reflects in each interaction we have and in the way we conduct our business