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Synopsis
Till about a decade ago, business from erstwhile owner HP used to account for about 70% of Mphasis’s revenue. That has now dropped to less than a tenth of the total. With Blackstone’s backing, Mphasis has set out to chart its own course. It is shoring up management talent, building new businesses and capabilities, and expanding to more geographies.
When most companies report earnings, their performance (or lack thereof) tends to be the highlight of the show. But for over a decade, Mphasis was not like most companies. Its performance was tied to the performance of its constantly changing owner — first, Electronic Data Systems (EDS), and then, HP.Even after HP sold its stake to private-equity player Blackstone, the company continued to be a large contributor to Mphasis’s revenue. But HP’s
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