I don’t think placement statistics of one year are enough to judge the credibility and worth of an institute. It’s better to observe placement trends over the past few years to get a better understanding of the placement scenario.
My brother was a student at IIT Hyderabad till 2020 so I can give you information regarding the placement trends of the preceding years.
IIT Hyderabad M.tech Chemical Engineering placement trends 2018.2019 and 2020
2018: Only 4 students got placed from the entire batch.
2019
Out of 15 total students,
2020: 2 core companies registered for the second phase of the placements meanwhile a couple of students got placed in non-core companies.
From the above trends, we can say that job opportunities have been improving over the past few years despite the lockdown situation. The number of companies is expected to increase in the coming years with better placement opportunities.