On consolidated basis
Quarter ended March 2022 compared
with Quarter ended December 2021.
Net sales (including other operating income) of Tech Mahindra has increased
5.81% to Rs 12116.3 crore.
Operating profit margin has declined
from 17.99% to 17.24%, leading to 1.38% rise in operating profit to Rs 2,088.40
crore. Employee cost increased from 49.43% to 49.91%.
Other expenses rose from 32.58% to 32.85%. Expenses
from contract fell from 16.37% to 15.74%.
Other income rose 43.34% to Rs 319.8
crore. PBIDT rose 5.48% to Rs 2353 crore. Provision for
interest rose 62.83% to Rs 55.2 crore. Loan funds remained
nil.
PBDT rose 4.61% to Rs 2353
crore. Provision for depreciation rose 33.72% to Rs 484.2
crore.
Profit before tax down 0.97% to Rs
1,868.80 crore. Provision for tax was expense of Rs 328 crore,
compared to Rs 508.2 crore. Effective tax rate was 17.51% compared
to 26.94%.
Minority interest increased 308.25%
to Rs 39.60 crore. Net profit attributable to owners of the company
increased 10.03% to Rs 1,505.70 crore.
Promoters’ stake was 35.26% as of 31
March 2022 ,compared to 35.67% as of 31 December 2021 .
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Tech Mahindra has increased
24.53% to Rs 12116.3 crore. Sales of BPO segment has gone up 44.17%
to Rs 1,523.70 crore (accounting for 12.58% of total sales). Sales
of IT segment has gone up 22.13% to Rs 10,592.60 crore (accounting for 87.42%
of total sales).
Profit before interest, tax and other
unallocable items (PBIT) has jumped 7.20% to Rs 2,088.40 crore. PBIT
of BPO segment fell 0.64% to Rs 293.80 crore (accounting for 14.07% of total
PBIT). PBIT of IT segment rose 8.61% to Rs 1,794.60 crore
(accounting for 85.93% of total PBIT).
PBIT margin of BPO segment fell from
27.98% to 19.28%. PBIT margin of IT segment fell from 19.05% to
16.94%. Overall PBIT margin fell from 20.02% to 17.24%.
Operating profit margin has declined
from 19.50% to 17.24%, leading to 10.07% rise in operating profit to Rs
2,088.40 crore. Employee cost increased from 48.26% to 49.91%.
Other expenses rose from 32.24% to 32.85%. Expenses
from contract rose from 12.71% to 15.74%.
Other income rose 880.98% to Rs
319.8 crore. PBIDT rose 24.78% to Rs 2408.2 crore. Provision
for interest rose 32.37% to Rs 55.2 crore. Loan funds declined from
Rs 2,900.80 crore as of 31 March 2021 to Rs 2,618.40 crore as of 31 March
2022. Inventories rose to Rs 40.50 crore as of 31 March 2022 from Rs
24.20 crore as of 31 March 2021. Sundry debtors were higher at Rs
7,467.60 crore as of 31 March 2022 compared to Rs 6,472.80 crore as of 31 March
2021. Cash and bank balance rose to Rs 3,974.50 crore as of 31 March
2022 from Rs 2,835.20 crore as of 31 March 2021. Investments declined
from Rs 10,237.60 crore as of 31 March 2021 to Rs 4,883.80 crore as of 31 March
2022.
PBDT rose 24.61% to Rs 2353
crore. Provision for depreciation rose 40.59% to Rs 484.2
crore. Fixed assets increased to Rs 7,522.90 crore as of 31 March
2022 from Rs 5,128.60 crore as of 31 March 2021. Intangible assets
increased from Rs 4,008.20 crore to Rs 7,425.80 crore.
Profit before tax grew 21.04% to Rs
1,868.80 crore. Share of profit/loss was 2,150% higher at Rs 4.5
crore. Provision for tax was expense of Rs 328 crore, compared to Rs
499.8 crore. Effective tax rate was 17.51% compared to 32.37%.
Net profit attributable to owners of
the company increased 39.24% to Rs 1,505.70 crore.
Equity capital increased from Rs
437.00 crore as of 31 March 2021 to Rs 438.80 crore as of 31 March
2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 35.26% as of 31
March 2022 ,compared to 35.76% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Tech Mahindra has increased
17.94% to Rs 44646 crore. Sales of BPO segment has gone up 43.49% to
Rs 5,460.80 crore (accounting for 12.23% of total sales). Sales of
IT segment has gone up 15.08% to Rs 39,185.20 crore (accounting for 87.77% of
total sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 17.13% to Rs 8,020.00
crore. PBIT of BPO segment rose 34.87% to Rs 1,085.60 crore
(accounting for 13.54% of total PBIT). PBIT of IT segment rose
14.77% to Rs 6,934.40 crore (accounting for 86.46% of total PBIT).
PBIT margin of BPO segment fell from
21.15% to 19.88%. PBIT margin of IT segment fell from 17.75% to
17.70%. Overall PBIT margin fell from 18.09% to 17.96%.
Operating profit margin has jumped
from 17.95% to 17.96%, leading to 18.01% rise in operating profit to Rs
8,020.00 crore. Employee cost decreased from 50.98% to 49.92%.
Other expenses rose from 31.07% to 32.12%. Expenses
from contract rose from 13.14% to 15.58%.
Other income rose 41.32% to Rs
1112.3 crore. PBIDT rose 20.42% to Rs 9132.3
crore. Provision for interest fell 6.55% to Rs 162.6
crore. Loan funds declined from Rs 2,900.80 crore as of 31 March
2021 to Rs 2,618.40 crore as of 31 March 2022. Inventories rose to
Rs 40.50 crore as of 31 March 2022 from Rs 24.20 crore as of 31 March
2021. Sundry debtors were higher at Rs 7,467.60 crore as of 31 March
2022 compared to Rs 6,472.80 crore as of 31 March 2021. Cash and
bank balance rose to Rs 3,974.50 crore as of 31 March 2022 from Rs 2,835.20
crore as of 31 March 2021. Investments declined from Rs 10,237.60
crore as of 31 March 2021 to Rs 4,883.80 crore as of 31 March 2022.
PBDT rose 21.06% to Rs 8969.7
crore. Provision for depreciation rose 4.30% to Rs 1520.4
crore. Fixed assets increased to Rs 7,522.90 crore as of 31 March
2022 from Rs 5,128.60 crore as of 31 March 2021. Intangible assets
increased from Rs 4,008.20 crore to Rs 7,425.80 crore.
Profit before tax grew 25.16% to Rs
7,449.30 crore. Share of profit/loss was 133.33% higher at Rs 2.8
crore. Provision for tax was expense of Rs 1822 crore, compared to
Rs 1599.9 crore. Effective tax rate was 24.45% compared to 26.88%.
Net profit attributable to owners of
the company increased 25.70% to Rs 5,566.10 crore.
Equity capital increased from Rs
437.00 crore as of 31 March 2021 to Rs 438.80 crore as of 31 March
2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 35.26% as of 31
March 2022 ,compared to 35.76% as of 31 March 2021 .
Cash flow from operating activities
decreased to Rs 5,285.30 crore for year ended March 2022 from Rs 8,093.80 crore
for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 958.40 crore, compared to Rs
666.00 crore during the year ended March 2021.
Dividend: The Board of Directors has recommended a
final dividend of Rs.15 and a special dividend of Rs.15 per equity share on
face value of Rs.5 each.
Management Commentary
Commenting on the performance CP
Gurnanai -CEO, said “Our improved growth performance reflects the power of
Human-Centered experiences, a strong focus on innovation and our ability to
create ao strong customer and partner ecosystem. Tech Mahindra’s commitment
towards sustainable digital transformation and investment in new-age technology
stacks has resulted in one of the highest growth with large deal wins over the
last 7 years."
Mr Milind Kulkarni CFO said, “Our
structural! profitability continues to be robust, and we look forward to continuing
our journey with commitment to resilient capital return and operational
efficiency backed by a comprehensive digital portfolio.”
| Tech Mahindra : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 12,116.30 | 9,729.90 | 24.53 | 44,646.00 | 37,855.10 | 17.94 | | OPM (%) | 17.24 | 19.50 | -226 bps | 17.96 | 17.95 | 1 bps | | OP | 2,088.40 | 1,897.40 | 10.07 | 8,020.00 | 6,796.30 | 18.01 | | Other Inc. | 319.80 | 32.60 | 880.98 | 1,112.30 | 787.10 | 41.32 | | PBIDT | 2,408.20 | 1,930.00 | 24.78 | 9,132.30 | 7,583.40 | 20.42 | | Interest | 55.20 | 41.70 | 32.37 | 162.60 | 174.00 | -6.55 | | PBDT | 2,353.00 | 1,888.30 | 24.61 | 8,969.70 | 7,409.40 | 21.06 | | Depreciation | 484.2 | 344.4 | 40.59 | 1520.4 | 1457.7 | 4.30 | | PBT | 1,868.80 | 1,543.90 | 21.04 | 7449.3 | 5951.7 | 25.16 | | Share of Profit/(Loss) from Associates | 4.5 | 0.2 | 2,150.00 | 2.8 | 1.2 | 133.33 | | PBT before EO | 1873.3 | 1544.1 | 21.32 | 7452.1 | 5952.9 | 25.18 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1873.3 | 1544.1 | 21.32 | 7452.1 | 5952.9 | 25.18 | | Taxation | 328 | 499.8 | -34.37 | 1822 | 1599.9 | 13.88 | | PAT | 1545.3 | 1044.3 | 47.97 | 5630.1 | 4353 | 29.34 | | Minority Interest (MI) | 39.6 | -37.1 | PL | 64 | -75 | PL | | Net profit | 1505.7 | 1081.4 | 39.24 | 5566.1 | 4428 | 25.70 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 1505.7 | 1081.4 | 39.24 | 5566.1 | 4428 | 25.70 | | EPS (Rs)* | 15.49 | 11.13 | 39.24 | 57.27 | 45.56 | 25.70 | | | * EPS is on current equity of Rs 485.97 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 |
|
| Tech Mahindra : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | BPO | 12.58 | 1,523.70 | 1,056.90 | 44.17 | 12.23 | 5,460.80 | 3,805.60 | 43.49 | | Telecom Equipment Manufacturer | 0.00 | 0.00 | 0.00 | - | | IT | 87.42 | 10,592.60 | 8,673.00 | 22.13 | 87.77 | 39,185.20 | 34,049.50 | 15.08 | | Total Reported Sales | 100.00 | 12,116.30 | 9,729.90 | 24.53 | 100.00 | 44,646.00 | 37,855.10 | 17.94 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 12,116.30 | 9,729.90 | 24.53 | 100.00 | 44,646.00 | 37,855.10 | 17.94 | | PBIT | | BPO | 14.07 | 293.80 | 295.70 | -0.64 | 13.54 | 1,085.60 | 804.90 | 34.87 | | Telecom Equipment Manufacturer | 0.00 | 0.00 | 0.00 | - | | IT | 85.93 | 1,794.60 | 1,652.40 | 8.61 | 86.46 | 6,934.40 | 6,042.10 | 14.77 | | Total PBIT | 100.00 | 2,088.40 | 1,948.10 | 7.20 | 100.00 | 8,020.00 | 6,847.00 | 17.13 | | Less : Interest | | 55.20 | 41.70 | 32.37 | | 162.60 | 174.00 | -6.55 | | Add: Other un-allcoable | | -159.90 | -362.30 | 55.87 | | -405.30 | -720.10 | 43.72 | | PBIT Margin(%) | | BPO | | 19.28 | 27.98 | -869.60 | | 19.88 | 21.15 | -127.05 | | Telecom Equipment Manufacturer | | 0.00 | 0.00 | 0.00 | | IT | | 16.94 | 19.05 | -211.02 | | 17.70 | 17.75 | -4.86 | | PBT | 100.00 | 1,873.30 | 1,544.10 | 21.32 | 100.00 | 7,452.10 | 5,952.90 | 25.18 |
|
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