Q4FY17-Total-Income-AT-Rs-182.2-crore-up-BY-42.4%-Q-o-Q basis

 

Q4FY17 Total Income at Rs 182.2 crore; up by 42.4% Q-o-Q basis

 

 

 

  • PAT up 28.7% Q-o-Q to Rs 14.5 crore

 

  • 12 month Order Backlog stood at Rs 333.2 crore

 

  • Added 13 new clients during the quarter

 

  • Recommends Final Dividend of 50%

 

 

Mumbai, India – 20th April 2017: Mastek, a global IT player and a trusted partner in complex digital & agile transformation programs in the Government, Retail and Financial Services worldwide, announced today its financial results for the fourth quarter and full year of FY17.

 

 

Review of financial performance for the quarter ended 31st March, 2017

 

On a quarter-on-quarter basis:

 

  • The operating income was Rs 180.4 crore during the quarter under review as compared to Rs 126.1 crore during the previous quarter reflecting a growth of 43.0% in rupee terms and an increase of 42.3% in constant currency terms (organic growth of 5.7%).

 

  • Total income was Rs 182.2 crore during the quarter under review as compared to Rs 128.0 crore during the previous quarter, growth of 42.4% on Q-o-Q basis.

 

  • The Company reported EBITDA (before exceptional item) of Rs 22.6 crore (12.4% of total income) in Q4FY17 as compared to Rs 15.5 crore (12.1% of total income) in Q3FY17, growth of 46.3% on Q-o-Q basis.

 

  • Net profit stood at Rs 14.5 crore in Q4FY17 as against Rs 11.2 crore in Q3FY17, up by 28.7% on Q-o-Q basis.

 

For the Financial Year ended 31st March, 2017:

 

  • The operating revenue was Rs 562.5 crore for FY17 as compared to Rs 526.9 crore in FY16 reflecting an increase of 6.7% in rupee terms and an increase of 17.4% in constant currency terms.

 

  • Total income was Rs 572.2 crore for FY17 as compared to Rs 544.3 crore in FY16, up 5.1% on Y-o-Y basis.

 

  • The Company posted an EBITDA (before exceptional item) of Rs 62.6 crore (10.9% of total income) for FY17 as compared to Rs 35.6 crore (6.5% of total income) in FY16, up 75.9% on Y-o-Y basis.
  • et profit stood at Rs 36.9 crore for FY17 as against Rs 13.7 crore for FY16 reflecting a growth of 168.6% in rupee terms.

 

Operating highlights

 

 

  • New accounts billed during the quarter: The Company added 13 new clients in Q4FY17 and

 

40 new clients in FY17. Total client count as of 31st March, 2017 was 159 (LTM) including customers from the Taistech acquisition.

 

 

  • 12m Order Backlog: Mastek’s 12-month order backlog was Rs 333.2 crore (£ 41.2mn),

 

including Taistech as on 31st March,2017 as compared to Rs 227.1 crore (£ 27.2mn) at the end of Q3FY17, reflecting an increase of 47% Q-o-Q in rupee terms (an increase of 52% Q-o-Q in constant currency).

 

 

  • Employees: As on 31st March,2017, the company had a total of 1,577 employees,of which 1,045 employees were based offshore in India while the rest were at various onsite locations outside India. Employee count at the end of 31st December, 2016 was 1,564.

 

 

  • Dividend: The Board of Directors have recommended a final dividend of 50% (Rs 2.50 per

 

share) at the meeting held on 20th April, 2017. Total Dividend for the year including interim dividend works out to 70% (Rs 3.50 per share).

 

 

  • Cash & Cash Equivalents (including liquid investments): The total cash & cash equivalent

 

(including liquid investment) stands at Rs 149.3 crore as on 31st March, 2017 as compared to Rs 146.5 crore at the end of 31st December, 2016.

 

 

Commenting on the results, Mr. Sudhakar Ram, Vice-Chairman & Managing Director, Mastek, said: “This year has been good for Mastek in terms of operating performance and strengthening the business for the next stage of our development. We strengthened our leadership team with the appointment of John Owen as Group CEO in November and the Board is excited that our revised strategy, Mastek Vision 2020, is starting to positively impact Mastek. The integration of Taistech is on track and we are starting to yield the intended synergies from this acquisition. Our efforts continue to be focused on digital transformation and we see ourselves as one of the leading players offering digital solutions in niche areas.”

 

Mr. John Owen, Group CEO, Mastek, said: “I am pleased and encouraged that our core business continues to grow quarter on quarter and year on year. With the addition of Taistech, we are now successfully operating in 3 key geographies (US, UK, India), expanded our technical competencies to include Digital Commerce and we now have solid foundations to deliver continued profitable growth. Our delivery track record continues to be recognised and appreciated by our customers as our key differentiator and I want to thank all Mastekeers for their dedication and professionalism.”

 

Mr. Abhishek Singh, Group CFO, Mastek, said: “I am pleased with another strong quarter of financial performance despite continued headwinds on foreign exchange. Q4FY17 witnessed growth in revenue, EBITDA and PAT driven by organic and inorganic contributions. We are starting to see the benefits of our strategy to reposition Mastek as ‘Digital Leader’, flow into our financial performance.”

 

 

 

 

About Mastek

 

Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to government, retail and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates in the UK and Asia Pacific regions. Incorporated in 1982, Mastek has been at the forefront of technology and has made significant investments in creating intellectual property, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries. For more information and past results & conference call transcripts, please visit our web site www.mastek.com (and/or the Investors section at http://www.mastek.com/investors.html). Updated disclosures regarding corporate governance may also be accessed in the web site’s Investors section at: http://www.mastek.com/investors/corporate-governance.html.

 

Investor / Analyst contact:

 

Asha Gupta Christensen IR +91-22-4215-0210

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Shareholders may also contact Mastek via email at This email address is being protected from spambots. You need JavaScript enabled to view it. , which has been specifically created for the redressal of investor grievances. You may also contact the Investor Relations team by email at This email address is being protected from spambots. You need JavaScript enabled to view it. .

 

Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.

For more information, you may get in touch with:
Mr. Sanjay Mudnaney
VP – Corporate Communications

+91 22 6695-2222

media@mastek.com

Media can write to us seeking appointment requests at the following email address:

media@mastek.com