Pune – May 13th, 2022: 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.”


Key Wins

  • Tech Mahindra won a multi-year strategic deal with one of the world’s largest home shopping organization in Europe to transform their IT infrastructure using Cloud & Data analytics
  • Selected by an American media tech company for a multi-year deal to bring end-to end engineering & platform transformation
  • Tech Mahindra selected by one of the largest wireless telecommunications company in South East Asia for technology transformation through private cloud
  • Tech Mahindra won a deal for cloud application services with one of largest software products & services firms in the world, for augmenting its enterprise cloud services division
  • Tech Mahindra won a strategic deal for building & operating Europe’s first fully cloud native end to end 5G network augmenting & operating network data centers, labs & the security infrastructure
  • Tech Mahindra awarded a multi-year strategic deal by one of the world leaders in lightining solutions as a partner for rollout of  SAP DMC across the client’s factories located across Europe & LATAM
  • Tech Mahindra won a deal with a large government organization in Middle-East to provide Digital Services Transformation using next-generation AI Ops frameworks & tools to enhance customer experience
  • Tech Mahindra awarded a deal by a Tier 1 communication service provider in South East Asia to bring about digital BSS transformation of their Consumer Business Group

 Business Highlights

  • Bharti Airtel and Tech Mahindra announced a strategic partnership to co-develop and market 5G use cases in India. They will set up a joint 5G innovation lab for developing Make in India use cases for the Indian and global markets, while also bringing customized Enterprise Grade Private Networks which will be at the core of the digital economy.
  • Tech Mahindra has collaborated with Cisco to drive infrastructure modernization of optical transport networks. Tech Mahindra’s vast experience in building IP based, end-to-end 5G networks combined with the Cisco’s Routed Optical Networking solution, will enable providers to reduce the complexity in their networks & empower them to reduce their operational expenses along with their total cost of ownership.
  • Tech Mahindra and Celonis, global leader in execution management, introduced new solutions to further accelerate digital transformation for Tech Mahindra’s customers. Solutions include Application Service Monitoring, a Digital Customer Service Accelerator (DCSA) & a Business Support Systems (BSS) Transformation Accelerator. The newly launched solutions will support customers’ evolving digital transformation needs.
  • Tech Mahindra, announced a collaboration with APPSLINK, a Global award-winning Oracle Partner specialising in Oracle Human Capital Management (HCM) and ERP implementations. This partnership is aimed at addressing country-specific payroll coverage for Oracle SaaS Customers and focusing on standardization, compliance, and statutory requirements in payroll where Oracle payroll localization is not present.
  • Tech Mahindra, announced the launch of its Cloud Gaming as a Service offering in collaboration with Ludium Labs. The collaboration will help telecom providers, cable companies and OEMS offer another value-added service by leveraging their networks capabilities dramatically improving end consumer access to gaming for popular compute-intensive games.
  • Tech Mahindra launches TechMVerse, a practice to deliver interactive and immersive experiences in the Metaverse for its customers. Aim is to transform customer experience and deliver real business outcomes, using pervasive AI, Blockchain, 5G, AR, VR, and Quantum Computing to build B2B use cases across sectors.
  • Tech Mahindra has collaborated with ASKA, a drive and fly company to solve the worldwide problem of traffic congestion and improve people’s quality of life with the world's first viable drive & fly eVTOL (Electric drive & fly Vertical Take-off and Landing).
  • Tech Mahindra, announced a collaboration with Yellow.ai, to transform enterprise customer experiences with conversational AI. Tech Mahindra and Yellow.ai will work towards developing next-gen conversational-AI solutions to elevate omnichannel capabilities such as ERP, HRMS, SCM, and CRM.
  • Tech Mahindra, announced a collaboration with Nokia, to drive 5G private wireless adoption globally. Tech Mahindra will leverage Nokia’s private wireless DAC solution for customers across industries and facilitate in automating 5G Private Wireless network management on a cloud (managed as a service model).
  • Tech Mahindra has partnered with Pyze, a leader in Low-Code Process and Business Value analytics, to provide cutting-edge enterprise modernization solutions. The partnership is aimed at accelerating digital transformation and application modernization by implementing data-driven improvement approach which will analyze process workflows based on origin and termination points


Awards and Recognitions

  • Tech Mahindra has been included in Bloomberg Gender-Equality Index (GEI) for the third consecutive year. Tech Mahindra is amongst the 7 Indian companies to be included in 2022 Bloomberg's Gender-Equality Index (GEI).
  • Tech Mahindra Recognized as the Fastest Growing Organization in ‘Brand Strength’ by Brand Finance. Its brand value registered a robust growth of 45% over the last two years and jumped to USD 3 billion along with an upgrade in brand strength from AA- to AA+ rating.
  • Tech Mahindra Strengthens its Leadership in the Engineering R&D Services Space for the 6th Consecutive Year in Zinnov Zones 2021 Rankings. We are named as a leader across 24 verticals and micro verticals in the Zinnov Zones for ER&D Services.
  • NelsonHall has identified Tech Mahindra as a Leader in the Run Services Capability market segment. This market segment reflects Tech Mahindra’s ability to meet future client requirements as well as delivering immediate benefits to its digital workplace services clients with specific capability in run services.
  • Tech Mahindra won SAP Asia Pacific Japan Award for Partner Excellence 2022
  • Tech Mahindra emerges as the only Indian company in the Forbes' Blockchain 50
  • Tech Mahindra Ranked A in Supplier Engagement Rating (SER) and Leaderboard of CDP.
  • Tech Mahindra recognized with Enterprise Digital Transformation of the Year, Cloud Service Provider & Cloud Technology and IoT/ Artificial Intelligence Service Provider of the Year awards in ET Telecom Awards
  • CP has been recognized by The Economic Times among 'Most Inspiring Business Leaders of Asia’ at The Economic Times 6th Edition Asia’s Promising Business Leaders
  • Tech Mahindra BPS got positioned for 2nd time in a row as a leader in the 2022 Gartner® Magic Quadrant™ for Customer Service BPO
  • Tech Mahindra ranked among 2 of India’s Most Sustainable Companies in 2021 by BW Businessworld & Sustain Labs Paris
  • Tech Mahindra awarded the 2022 ‘Industry Top-Rated’ and ‘Regional Top-Rated’ badges by Sustainalytics


About Tech Mahindra

Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates and the society to Rise. We are a USD 6 billion organization with 151,100+ professionals across 90 countries helping 1224 global customers, including Fortune 500 companies. We are focused on leveraging next-generation technologies including 5G, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers. Tech Mahindra is the only Indian company in the world to receive the HRH The Prince of Wales’ Terra Carta Seal for its commitment to creating a sustainable future. We are the fastest growing brand in ‘brand strength’ and amongst the top 7 IT brands globally. With the NXT.NOWTM framework, Tech Mahindra aims to enhance ‘Human Centric Experience’ for our ecosystem and drive collaborative disruption with synergies arising from a robust portfolio of companies. Tech Mahindra aims at delivering tomorrow’s experiences today, and believes that the ‘Future is Now’.

We are part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Connect with us on www.techmahindra.com

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Kaustubh Vaidya

Head - Investor Relations
Phone: +91  98208 91860
Email: kaustubh.vaidya@techmahindra.com


Karthik Mathiyalagan

Manager - Investor Relations
Phone: +91 80721 73309
Email: karthik.mathiyalagan@techmahindra.com 

Abhilasha Gupta

Head - Corporate Communications & Public Affairs
Phone: +91 97179 46080
Email:  abhilasha.gupta@TechMahindra.com


Gauri Khanna

Corporate Communications & Public Affairs:

Phone: +91 99998 15753

Email: gauri.khanna@techmahindra.com




Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.  

Consolidated financial for the fourth quarter and year ended Mar 31, 2022 drawn under Ind AS

P&L in INR Mn Quarter Ending Year Ending
Q4 FY22 Q3 FY22 Q4 FY21 FY 22 FY21
Revenue From Operations 121,163 114,508 97,299 446,460 378,551
Cost of Services 85,603 80,088 64,497 309,720 258,555
Gross Profit 35,560 34,420 32,802 136,739 119,996
SG&A 14,676 13,819 13,321 56,540 51,526
EBITDA 20,884 20,600 19,481 80,200 68,470
Other Income 3,198 2,231 326 11,123 7,871
Foreign Exchange (loss)/ gain 2,108 1,244 (628) 5,642 975
Depreciation & Amortization 4,842 3,621 3,444 15,204 14,577
Interest, Dividend & Misc. income 1,090 987 954 5,481 6,896
Interest Expense 552 339 417 1,626 1,740
Share of profit / (loss) from associate 45 (7) 2 28 12
Profit before Tax 18,732 18,864 15,441 74,521 59,529
Minority Interest (396) (97) 371 (640) 750
Profit after Tax 15,056 13,685 10,814 55,661 44,280
EPS ( ₹ / share)    
Basic 17.09 15.58 12.37 63.32 50.64
Diluted 16.94 15.46 12.26 62.81 50.19

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