Indian IT firms have high exposure to US: Citi

12 Mar, 2008, 2022 hrs IST, PTI

IT firms like Patni, Mphasis, Hexware have high exposure to the US markets, with about 70-80 per cent of their total sales coming from the region, a study by Citi Investment Research said.

CIR, a division of Citigroup Global Markets, in its India strategy report released recently has listed 10 companies each from the IT and non-IT sectors that have high exposure to the US markets.

The list has been prepared in the backdrop of concerns about slowdown in the US affecting Indian companies. The report said, "India's overall export intensity remains one of the lowest in the region and it is among lesser sensitive economies to a deceleration in the US growth."

However, the report also says that certain US-exposed export sectors, including textiles, jewellery, leather will continue to live in the shadow of a slowdown in the world's largest economy.

The report said IT services provider Patni has the highest exposure to the US, with the market contributing about 80 per cent to its total revenues followed by Mphasis and Hexware, as much as 70 per cent of their revenues come from the US.

About 65 per cent of revenue of Satyam and Mindtree come from the US. Infosys (63 per cent), Wipro (60 per cent), KPIT (60 per cent), TCS (56 per cent) and HCL Tech (56 per cent ) are some of the other companies with high US exposure.

Among the non-IT companies, Arvind Mills has the highest exposure at 35 per cent followed by United Phosphorous, which gets 29 per cent of its sales from the US, the report said.

Sun Pharma (26 per cent), Dishman (25 per cent), Ranbaxy (25 per cent), Glenmark Pharma (24 per cent), Suzlon (22 per cent) and Tata Tea (20 per cent) are some of the other companies with high exposure to the US markets, it added.