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Quarterly result QoQ comparison
Net
sales (including other operating income) of Tech Mahindra has increased 5.23%
to Rs 11450.8 crore.
Operating profit margin has declined
from 18.34% to 17.99%, leading to 3.25% rise in operating profit to Rs 2,060.00
crore. Employee cost decreased from 49.78% to 49.43%.
Other expenses rose from 31.89% to 32.58%. Software
technology development services cost rose from 15.32% to 16.37%.
Other
income fell 20.91% to Rs 223.1 crore. PBIDT rose 0.25% to Rs 2249.2
crore. Provision for interest fell 4.24% to Rs 33.9
crore.
PBDT rose 0.33% to Rs 2249.2
crore. Provision for depreciation rose 5.57% to Rs 362.1
crore.
Profit before tax down 0.62% to Rs
1,887.10 crore. Share of profit/loss was 12.50% higher at Rs -0.7
crore. Provision for tax was expense of Rs 508.2 crore, compared to
Rs 557.2 crore. Effective tax rate was 26.94% compared to 29.36%.
Minority
interest increased 340.91% to Rs 9.70 crore. Net profit attributable
to owners of the company increased 2.23% to Rs 1,368.50 crore.
Quarterly result YoY comparison
Net sales (including other operating
income) of Tech Mahindra has increased 18.70% to Rs 11450.8
crore. Sales of BPO segment has gone up 37.21% to Rs 1,449.80 crore
(accounting for 12.66% of total sales). Sales of IT segment has gone
up 16.42% to Rs 10,001.00 crore (accounting for 87.34% of total
sales).
Profit
before interest, tax and other unallocable items (PBIT) has jumped 8.68% to Rs
2,060.00 crore. PBIT of BPO segment rose 20.41% to Rs 302.00 crore
(accounting for 14.66% of total PBIT). PBIT of IT segment rose 6.89%
to Rs 1,758.00 crore (accounting for 85.34% of total PBIT).
PBIT
margin of BPO segment fell from 23.74% to 20.83%. PBIT margin of IT
segment fell from 19.15% to 17.58%. Overall PBIT margin fell from
19.65% to 17.99%.
Operating profit margin has declined
from 19.65% to 17.99%, leading to 8.68% rise in operating profit to Rs 2,060.00
crore. Employee cost decreased from 51.51% to 49.43%.
Other expenses rose from 28.85% to 32.58%. Software
technology development services cost rose from 12.44% to 16.37%.
Other
income rose 1% to Rs 223.1 crore. PBIDT rose 7.88% to Rs 2283.1
crore. Provision for interest fell 19.48% to Rs 33.9
crore.
PBDT
rose 8.43% to Rs 2249.2 crore. Provision for depreciation rose 1.03%
to Rs 362.1 crore.
Profit
before tax grew 9.98% to Rs 1,887.10 crore. Provision for tax was
expense of Rs 508.2 crore, compared to Rs 426.3 crore. Effective tax
rate was 26.94% compared to 24.84%.
Net profit attributable to owners of
the company increased 4.48% to Rs 1,368.50 crore.
Promoters’
stake was 35.67% as of 31 December 2021 ,compared to 35.79% as of 31 December
2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating
income) of Tech Mahindra has increased 15.66% to Rs 32529.7
crore. Sales of BPO segment has gone up 43.24% to Rs 3,937.10 crore
(accounting for 12.10% of total sales). Sales of IT segment has gone
up 12.67% to Rs 28,592.60 crore (accounting for 87.90% of total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 21.08% to Rs 5,931.60
crore. PBIT of BPO segment rose 55.50% to Rs 791.80 crore
(accounting for 13.35% of total PBIT). PBIT of IT segment rose
17.09% to Rs 5,139.80 crore (accounting for 86.65% of total PBIT).
PBIT margin of BPO segment rose from
18.53% to 20.11%. PBIT margin of IT segment rose from 17.30% to
17.98%. Overall PBIT margin rose from 17.42% to 18.23%.
Operating profit margin has jumped
from 17.42% to 18.23%, leading to 21.08% rise in operating profit to Rs
5,931.60 crore. Employee cost decreased from 51.92% to 49.92%.
Other expenses rose from 30.66% to 31.85%. Software
technology development services cost rose from 13.29% to 15.53%.
Other income rose 5.04% to Rs 792.5
crore. PBIDT rose 18.94% to Rs 6724.1 crore. Provision
for interest fell 18.82% to Rs 107.4 crore.
PBDT rose 19.84% to Rs 6616.7
crore. Provision for depreciation fell 6.93% to Rs 1036.2
crore.
Profit before tax grew 26.60% to Rs
5,580.50 crore. Provision for tax was expense of Rs 1494 crore,
compared to Rs 1100.1 crore. Effective tax rate was 26.78% compared
to 24.95%.
Net profit attributable to owners of
the company increased 21.33% to Rs 4,060.40 crore.
Promoters’ stake was 35.67% as of 31
December 2021 ,compared to 35.79% as of 31 December 2020 .
Management Commentary
Commenting on the performance CP
Gurnanai -CEO, said "Our people-first approach combined with sustained
value creation this quarter reflects our commitment towards redefining
possibilities and competencies in the new normal. We continue to strengthen our
presence, deliver broad-based profitable growth and value for our customers,
backed by future-ready talent and niche digital capabilities."
Mr Milind Kulkarni CFO said, “We
continue to transform our operations and add new capabilities enabling us to
grow faster while sustaining our profitability. Our focus on operational
efficiencies and investments for the future will help us drive exponential
value creation in the long run.”
| Tech Mahindra : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 11,450.80 | 9,647.10 | 18.70 | 32,529.70 | 28,125.20 | 15.66 | 37,855.10 | 36,867.70 | 2.68 | | OPM (%) | 17.99 | 19.65 | -166 bps | 18.23 | 17.42 | 82 bps | 17.95 | 14.94 | 301 bps | | OP | 2,060.00 | 1,895.50 | 8.68 | 5,931.60 | 4,899.00 | 21.08 | 6,796.30 | 5,508.60 | 23.38 | | Other Inc. | 223.10 | 220.90 | 1.00 | 792.50 | 754.50 | 5.04 | 787.10 | 1,192.40 | -33.99 | | PBIDT | 2,283.10 | 2,116.40 | 7.88 | 6,724.10 | 5,653.50 | 18.94 | 7,583.40 | 6,701.00 | 13.17 | | Interest | 33.90 | 42.10 | -19.48 | 107.40 | 132.30 | -18.82 | 174.00 | 191.90 | -9.33 | | PBDT | 2,249.20 | 2,074.30 | 8.43 | 6,616.70 | 5,521.20 | 19.84 | 7,409.40 | 6,509.10 | 13.83 | | Depreciation | 362.1 | 358.4 | 1.03 | 1036.2 | 1113.3 | -6.93 | 1457.7 | 1445.8 | 0.82 | | PBT | 1,887.10 | 1,715.90 | 9.98 | 5580.5 | 4407.9 | 26.60 | 5951.7 | 5063.3 | 17.55 | | Share of Profit/(Loss) from Associates | -0.7 | 0.5 | PL | -1.7 | 1 | PL | 1.2 | -5.5 | LP | | PBT before EO | 1886.4 | 1716.4 | 9.90 | 5578.8 | 4408.9 | 26.53 | 5952.9 | 5057.8 | 17.70 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1886.4 | 1716.4 | 9.90 | 5578.8 | 4408.9 | 26.53 | 5952.9 | 5057.8 | 17.70 | | Taxation | 508.2 | 426.3 | 19.21 | 1494 | 1100.1 | 35.81 | 1599.9 | 1160.4 | 37.87 | | PAT | 1378.2 | 1290.1 | 6.83 | 4084.8 | 3308.8 | 23.45 | 4353 | 3897.4 | 11.69 | | Minority Interest (MI) | 9.7 | -19.7 | PL | 24.4 | -37.9 | PL | -75 | -135.6 | 44.69 | | Net profit | 1368.5 | 1309.8 | 4.48 | 4060.4 | 3346.7 | 21.33 | 4428 | 4033 | 9.79 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1368.5 | 1309.8 | 4.48 | 4060.4 | 3346.7 | 21.33 | 4428 | 4033 | 9.79 | | EPS (Rs)* | 14.09 | 13.49 | 4.48 | 41.82 | 34.47 | 21.33 | 45.60 | 41.54 | 9.79 | | | * EPS is on current equity of Rs 485.48 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| Tech Mahindra : Consolidated Segment Results | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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| Sales | | BPO | 12.66 | 1,449.80 | 1,056.60 | 37.21 | 12.10 | 3,937.10 | 2,748.60 | 43.24 | 10.05 | 3,805.60 | 3,411.30 | 11.56 | | Telecom Equipment Manufacturer | 0.00 | 0.00 | 0.00 | - | | IT | 87.34 | 10,001.00 | 8,590.50 | 16.42 | 87.90 | 28,592.60 | 25,376.60 | 12.67 | 89.95 | 34,049.50 | 33,456.40 | 1.77 | | Total Reported Sales | 100.00 | 11,450.80 | 9,647.10 | 18.70 | 100.00 | 32,529.70 | 28,125.20 | 15.66 | 100.00 | 37,855.10 | 36,867.70 | 2.68 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 11,450.80 | 9,647.10 | 18.70 | 100.00 | 32,529.70 | 28,125.20 | 15.66 | 100.00 | 37,855.10 | 36,867.70 | 2.68 | | PBIT | | BPO | 14.66 | 302.00 | 250.80 | 20.41 | 13.35 | 791.80 | 509.20 | 55.50 | 11.76 | 804.90 | 495.80 | 62.34 | | Telecom Equipment Manufacturer | 0.00 | 0.00 | 0.00 | - | | IT | 85.34 | 1,758.00 | 1,644.70 | 6.89 | 86.65 | 5,139.80 | 4,389.80 | 17.09 | 88.24 | 6,042.10 | 5,230.30 | 15.52 | | Total PBIT | 100.00 | 2,060.00 | 1,895.50 | 8.68 | 100.00 | 5,931.60 | 4,899.00 | 21.08 | 100.00 | 6,847.00 | 5,726.10 | 19.58 | | Less : Interest | | 33.90 | 42.10 | -19.48 | | 107.40 | 132.30 | -18.82 | | 174.00 | 191.90 | -9.33 | | Add: Other un-allcoable | | -139.70 | -137.00 | -1.97 | | -245.40 | -357.80 | 31.41 | | -720.10 | -476.40 | -51.15 | | PBIT Margin(%) | | BPO | | 20.83 | 23.74 | -290.61 | | 20.11 | 18.53 | 158.55 | | 21.15 | 14.53 | 661.64 | | Telecom Equipment Manufacturer | | 0.00 | 0.00 | 0.00 | | IT | | 17.58 | 19.15 | -156.73 | | 17.98 | 17.30 | 67.74 | | 17.75 | 15.63 | 211.19 | | PBT | 100.00 | 1,886.40 | 1,716.40 | 9.90 | 100.00 | 5,578.80 | 4,408.90 | 26.53 | 100.00 | 5,952.90 | 5,057.80 | 17.70 |
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