Tech Mahindra Q4 Results 2022: reported PAT at Rs.5566 crore, up by 25.7%

On 13th May 2022, Tech Mahindra announced its quarterly results for the last quarter of FY2022.

Key Highlights:

For FY2022:

In USD:

- Tech Mahindra reported Revenue at USD 5,997.8 million with a growth of 17.3% YoY 

- EBITDA was at USD 1,076.3 million; up by 16.3% YoY and EBITDA Margins were reported at 18.0% 

- Profit after tax (PAT) at USD 746.4 million; up by 24.9% YoY 

- Free cash flow at $ 595 million, conversion to PAT at 79.7%

In INR:

- Revenue at ₹ 44,646 crores; up 17.9% YoY 

- EBITDA was reported at ₹ 8,020 crores; up by 17.1% YoY 

- Consolidated PAT at ₹ 5,566 crores; up 25.7% YoY 

- Earnings per share (EPS) was at ₹ 62.8 

- Free Cash flow of ₹ 4,417 Crore 

For Q4FY22:

In USD:

- Revenue at USD 1608.1 million; up by 4.9% QoQ and up 21.0% YoY 

- Revenue growth up 5.4% QoQ at constant currency terms 

- EBITDA at USD 275.7 million; down by 0.3% QoQ, up by 3.6% YoY

- EBITDA Margins were reported at 17.2% 

- Profit after tax (PAT) at USD 198.5 million; up by 8.0 % QoQ and up 24.9% YoY 

- Free cash flow at $111 million, conversion to PAT at 56.0%

In INR:

- Revenue was reported at ₹ 12,116 crores; up by 5.8% QoQ and 24.5% YoY 

- EBITDA for the quarter was at ₹ 2,088 crores; up by 1.4% QoQ and 7.2% YoY 

- Consolidated PAT at ₹ 1,506 crores; up by 10.0% QoQ and up by 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

Business Highlights:

- Tech Mahindra won a multi-year strategic deal with one of the world’s largest home shopping organizations 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 the 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 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 

- Bharti Airtel and Tech Mahindra announced a strategic partnership to co-develop and market 5G use cases in India. 

- Tech Mahindra has collaborated with Cisco to drive infrastructure modernization of optical transport networks. 

- Tech Mahindra launches TechMVerse, a practice to deliver interactive and immersive experiences in the Metaverse for its customers. 

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. The total Dividend declared for FY22 is ₹ 45/- per share.

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 a commitment to the resilient capital return and operational efficiency backed by a comprehensive digital portfolio.”