Tech mahindra
Tech mahindra

Q4 PAT at Rs 377 crores, up 37% QoQ Annual revenue up 25% and PAT up 18%

Press Release- Mumbai, India, May 21, 2013

Tech Mahindra, India’s leading software exporter today announced audited consolidated financial results for its fourth-quarter and year ended March 31, 2013. Fourth quarter revenue was at Rs 1,907 crore; up 34.4% YoY and full year revenue was at Rs 6,873 crore; up 25.2% YoY. Tech Mahindra’s consolidated net profit after tax (PAT) for Q4 was at Rs 377 crore and full year PAT at Rs 1,288 crore.

Financial highlights for the Quarter (INR)

  • Revenue at Rs 1,907 crore; up 34.4% YoY and 6.5% QoQ
  • Operating profit (EBITDA) at Rs 380 crore; up 58.9 % YoY and 1% QoQ
  • Consolidated PAT at Rs 377 crore; up 24.7% YoY and 36.8% QoQ
  • Earnings per Share (EPS) was Rs 29.54 for the quarter ended March 31, 2013

Financial highlights for the Quarter (USD)

  • Revenue at USD 353 mn; up 25.4% YoY and 7.2% QoQ
  • Operating profit (EBITDA) at USD 70 mn; up 47.3% YoY and up 1.6% QoQ
  • Consolidated PAT at USD 70 mn; up 13% YoY and up 37.3% QoQ

Financial highlights for the Year (INR)

  • Revenue at Rs 6,873 crore; up 25.2% YoY
  • EBITDA at Rs 1,424 crore; up 54.9% YoY
  • Consolidated PAT at Rs 1,288 crore; up 17.6% YoY
  • Earnings per Share (EPS) was at Rs 100.85 for the year ended March 31, 2013

Financial highlights for the Year (USD)

  • Revenue at USD 1,263 mn; up 9.2% YoY
  • EBIDTA at USD 262 mn; up 35.1% YoY
  • PAT at USD 237 mn up 3% YoY

Other Highlights

  • The Board of Directors have recommended a dividend of Rs 5/- per share (50 %) for FY 13
  • Total headcount for the year at 47,498. Software Professional headcount stood at 24,410, BPO at 21,552 and Support staff at 1,536
  • Debt at Rs 1,380 crore as of March 31, 2013
  • Cash and Cash equivalent at Rs 710 crore as of March 31, 2013; up Rs 228 crore QoQ

Vineet Nayyar, Executive Vice Chairman of Tech Mahindra , said, “I am satisfied that we have delivered profitable growth for FY13, with significant margin improvement. I am confident that with our deep domain expertise in Telecom and a full portfolio of offerings, we would be able to leverage our leadership position to deliver higher value, for all our stakeholders.”

C P Gurnani, Managing Director of Tech Mahindra , said, “We are optimistic about FY14, buoyed by our deal pipeline, business traction from recent acquisitions and leverage of business synergies with Mahindra Satyam. Our focus on non-linear growth alternatives like Platforms and Customer co-innovation continues to portend a steady future for us.”

Key wins

  • Signed a 3 year deal with a leading US wireless carrier to offer end to end testing of digital music platform and contribute towards designing, architecture and development of new applications on various platforms like iOS, Android and Windows Mobile.
  • Selected by a leading middle east telecom operator for providing consultancy services for IT transformation
  • Chosen by a leading emerging market Telco to help develop its Predictive Analysis, Business Intelligence (BI) support and Customer Relationship Management
  • A leading US based cloud and communications services provider awarded contract in area of corporate systems, which involves application development and maintenance of Enterprise application.
  • Mahindra Comviva (a subsidiary of Tech Mahindra) signed a mobile banking deal with a leading commercial bank in Kyrgyzstan. This deal will empower customers of the bank to conduct a range of financial and non-financial transactions.

Business Highlights for the Quarter ended March 31, 2013

  • Tech Mahindra opened a new development centre at The Hague, Netherlands. The New centre will help company deepen its relationship with its customers in Benelux region
  • Tech Mahindra and Mahindra Satyam announced the launch of its innovative “Young CEO”. Program. “The program is designed to nurture young leaders to take on significant roles with ‘end-to-end' responsibility in areas of M&A, new business, platforms or developing a new geography.
  • CanvasM Technologies ( a wholly owned VAS subsidiary) launched comprehensive framework for Mobile Application Testing Ecosystem (MATE). The framework aims to enable an efficient and consistent approach to test mobile applications across multiple devices, platforms and from multiple geographic locations.
  • CanvasM set up 2nd world class Device Testing lab at New Jersey. The operating of this lab enables CanvasM to cater to most of the North American Telco operators

Awards and Recognitions

  • Tech Mahindra's commitment to excellence over the past year earned recognition as a 2013 AT&T Supplier Award winner for its support of affiliates of AT&T, one of the world's leading data, voice, wireless and Internet services provider.
  • Mahindra Comviva (a subsidiary of Tech Mahindra) won GSMA Global Mobile Awards 2013 in the Best Consumer Mobile Service category for their mobility services to Bangladesh Railways in collaboration with two leading mobile service providers.
  • Tech Mahindra received the “Training Top 125” Award . Tech Mahindra's focus on learning and employee development through its flagship training initiatives , leadership programs and their alignment to business goals through were the critical parameters for receiving the award
  • Tech Mahindra ranked among the Top 3 companies in KPMG's Client Satisfaction Rankings in Europe.
  • Mahindra Comviva won Golden Peacock Award 2012 for Managed VAS Services.


Audited consolidated financial results for the quarter and year ended 31st March, 2013 drawn under Indian GAAP

Consolidated Income Statement (in INR million)

Consolidated Balance Sheet (in INR Million)

Key Operating Metrics


Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.9 billion company with 131,500+ professionals across 90 countries, helping 946 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

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