Tech Mahindra FY’22 Revenues Up 17.3% YoY

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Tech Mahindra Ltd., a specialist in digital transformation, consulting and business re-engineering services today announced the audited consolidated financial results for its fourth quarter and year ended March 31st, 2022.

Financial highlights for the Year (USD)

Revenue at USD 5,997.8 mn; up 17.3% YoY EBITDA at USD 1,076.3 mn; up 16.3% YoY Margins at 18.0% Profit after tax (PAT) at USD 746.4 mn; up 24.9% YoY Free cash flow at $ 595 mn, conversion to PAT at 79.7%

Financial highlights for the Year (₹)

Revenue at ₹ 44,646 crores; up 17.9% YoY EBITDA at ₹ 8,020 crores; up 17.1% YoY Consolidated PAT at ₹ 5,566 crores; up 25.7% YoY Earnings per share (EPS) was at ₹ 62.8 The Board has proposed a Final Dividend of ₹ 30/- per share in addition to an Interim Dividend of ₹ 15/- per share on the FV of ₹ 5. Total Dividend declared for FY22 is of ₹ 45/- per share Free Cash flow of  ₹  4,417 Crore

Financial highlights for the Quarter (USD)

Revenue at USD 1608.1 mn; up 4.9% QoQ and up 21.0% YoY Revenue growth up 5.4% QoQ at constant currency terms EBITDA at USD 275.7 mn; down 0.3% QoQ, up 3.6% YoY Margins at 17.2% Profit after tax (PAT) at USD 198.5 mn; up 8.0 % QoQ and up 24.9% YoY Free cash flow at $111 mn, conversion to PAT at 56.0%

Financial highlights for the Quarter (₹)

Revenue at ₹ 12,116 crores; up 5.8% QoQ and up 24.5% YoY EBITDA at ₹ 2,088 crores; up 1.4% QoQ, up 7.2% YoY Consolidated PAT at ₹ 1,506 crores; up 10.0% QoQ and up 39.2% YoY

Other Highlights

Total headcount at 151,173 up 4.2% QoQ Cash and Cash Equivalent at USD 1,140.7 mn as of March 31, 2022

CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,

“Our improved growth performance reflects the power of Human-Centered experiences, a strong focus on innovation and our ability to create a 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.”

Milind Kulkarni, Chief Financial Officer, Tech Mahindra, 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.”