Investor > Miscellaneous

Miscellaneous

Mastek Limited has the following subsidiaries:

  • Mastek (UK) Limited in UK.
  • IndigoBlue Consulting Ltd in UK- Step down subsidiary of Mastek (UK) Limited.
  • Digility Inc. in USA- Step down subsidiary of Mastek (UK) Limited, Digility Inc. is expected to be operational during the Financial year 2016-17.
Shareholders and investors are advised to go through the section on Management Discussion & Analysis and Investor information provided in the Report on Corporate Governance, as these and other parts of this Annual Report provide substantial information about the Company that you may find relevant and useful.

WHEN WAS MASTEK LTD INCORPORATED AND WHEN DID IT HAVE ITS INITIAL PUBLIC OFFER?

Mastek Ltd. was incorporated in the name and style of Management and Software Technology Private Limited on May 14, 1982. The first public offering was made in December 1992 at a price of ` 70/- (premium ` 60/-) followed by another public issue in 1996 at a price of ` 190/- (premium of ` 180/-). The Company issued bonus shares in the ratio of 1:1 in January 2000. The Company’s shares were sub divided from ` 10/- to ` 5/- in November 2000. The Company issued bonus shares in the ratio of 1:1 in April 2006.

NAME OF THE SUBSIDIARIES OF MASTEK LIMITED AND WHERE ARE THEY LOCATED?

Mastek Limited has the following subsidiaries located in United Kingdom:

  • Mastek (UK) Limited in UK.
  • IndigoBlue Consulting Ltd in UK- Step down subsidiary of Mastek (UK) Limited.
  • Digility Inc in USA – Step down subsidiary of Mastek (UK) Limited.

WHAT IS THE CORE BUSINESS OF MASTEK LIMITED?

Mastek is an IT solutions player with global operations providing new technology and intellectual property led enterprise solutions to Government, Retail and Financial services organizations worldwide. Mastek’s strengths are in architecting solutions for large, complex and mission critical business problems, and delivering these solutions with high levels of predictability.

WHAT IS THE EMPLOYEE STRENGTH OF MASTEK GROUP?

As on March 31, 2016, the Mastek Group had 1298 employees.

HOW MANY SOFTWARE DEVELOPMENT CENTRES DOES MASTEK HAVE?

Mastek has five development centers out of which three are located in around Mumbai, India and one each in Pune and Chennai, India.

HOW MANY MARKETING OFFICES DOES MASTEK HAVE?

Mastek has 4 Marketing offices: 2 in UK and domestic marketing offices in Mumbai and New Delhi, India.

WHAT IS THE FISCAL YEAR FOR MASTEK?

The Fiscal Year of the Company is April 01-March 31 every year.

WHAT IS THE DIVIDEND TRACK RECORD OF MASTEK LIMITED?

Financial Year Shares Outstanding in Mn Dividend Per Share Total Dividend Rs in Lakhs
1993* 3.00 2.50 46.88
1994* 3.00 3.50 104.98
1995* 3.06 3.50 105.30
1996* 3.46 3.50 109.93
1997* 3.46 3.50 120.98
1998* 3.46 3.50 120.98
1999* 3.46 4.00 138.26
2000* 6.91 4.00 276.53
2001 13.88 2.00 277.67
2002 13.97 3.00 419.07
2003 14.11 3.00 423.42
2004 13.88 3.00 416.40
2005 13.87 7.50 1036.11
2006 28.14 6.50 1403.12
2007 28.46 7.50 2132.34
2008 27.62 10.00 2557.70
2009 26.90 10.00 2679.34
2010 26.94 3.25 876.30
2011 26.95
2012 27.02
2013 24.64 3.00 739.15
2014 22.16 4.50 1040.59
2015 22.55 2.50 563.94
2016 23.00 2.50 574.41

*indicates dividend on face value of ` 10 per share.

HOW DOES ONE GET THE ANNUAL REPORT AND QUARTERLY RESULTS OF MASTEK?

The Annual Report as well as quarterly results along with analysis are available on our website www.mastek.comin the “Investors” section.

WHO IS THE REGISTRAR AND SHARE TRANSFER AGENT (RTA)?

The Registrar and Share Transfer Agent (RTA) of Mastek is: Karvy Computershare Private Limited
Registered Office: Karvy Selenium Tower-B,
Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad – 500 032.
Phone: Tel: +91 40 6716 1500 Fax: +91 40 2331 1968
E-Mail: einward.ris@karvy.com
Contact Person: Mr. K.V. Jayaraman

HOW DOES ONE TRANSFER HIS/HER SHARES OR CHANGE THE ADDRESS WITH THE TRANSFER AGENT?

For the transfer of shares in physical form and noting your change of address, you need to write to our share transfer agent at the above mentioned address.

Transfer of shares in the electronic mode is effected through your depository participant.

WHOM DOES ONE CONTACT IN CASE OF NON-RECEIPT OF DIVIDEND, LOSS OF SHARE CERTIFICATES, ETC?

You may contact KARVY COMPUTERSHARE PRIVATE LIMITED (RTA), who will advise you accordingly.

You may also communicate with the Company in the event of any unresolved issues via Email at investor_grievances@mastek.com

IS ELECTRONIC CLEARING SERVICE (ECS) FACILITY AVAILABLE FOR PAYMENT OF DIVIDEND?

Mastek extends ECS facility to all its shareholders. The dividend amount of shareholders availing ECS facility is directly credited to their bank accounts. Shareholders holding shares in physical form have to submit an ECS Mandate form to Karvy Computershare Private Limited (RTA), whose address is given above.

WHICH ARE THE STOCK EXCHANGES WHERE MASTEK SHARES ARE LISTED?

Mastek’s shares are listed in India on National Stock Exchange of India Limited and BSE Limited.

HOW CAN THE SHARES BE DE-MATERIALIZED AND WHO ARE THE DEPOSITORY PARTICIPANTS (DP)?

Mastek’s shares are traded only in electronic form with effect from June 2000. Shares can be dematerialized by opening the demat account with the depository participant (DP). DPs are some of the banks, brokers and institutions who have been registered with National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL). A comprehensive list of DPs is available at www.nsdl.com and www.cdslindia.com

HOW DOES ONE INFORM THE COMPANY TO SEND THE ANNUAL REPORT, OR ANY OTHER CORRESPONDENCE TO BE SENT IN ELECTRONIC FORM TO SAVE THE TIME AND HAVE SPEEDY COMMUNICATION?

The following application form can be filled and sent to the Registrar and Share Transfer Agent of the Company. Form for registering e-mail id for receiving documents/notices by electronic mode (with reference to the circular no. 17/2011 dated 21st Day of April, 2011 issued by the Ministry of Corporate Affairs, Govt. of India)

To,
Karvy Computershare Private Limited
Unit:- Mastek Limited
Registered Office: Karvy Selenium Tower-B,
Plot No. 31 & 32, Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad – 500 032.
Phone: Tel: +91 40 6716 1500 Fax: +91 40 2331 1968
E-Mail: einward.ris@karvy.com

ANNUAL REPORT 2015-2016

I agree to receive all documents/ notices from the Company in electronic mode. Please register my e-mail id in your records for sending communication through e-mail. The required details are as under:-

Folio No. (for Physical Shares)
DP ID
Client ID
PAN
Name of 1st Registered holder
Name of Joint Holder (s)
Registered Address
Email ID

 

FAQs ON DE-MERGER

From which date the share price was adjusted following the De-merger?

On June 12, 2015, the Mastek share price was adjusted for De-merger.

Any update on de-merger event?

On April 30, 2015, the Hon. High Court of Gujarat and Hon. High Court of Bombay approved the Scheme of Arrangement, which was earlier approved by the Stock Exchanges on December 09, 2014. The Scheme envisaged creation of independent listed Insurance business company by demerger of Insurance business of Mastek to MCPL (renamed as Majesco Limited – “Majesco”). Post demerger Majesco achieved automatically listing with stock exchanges and all the shareholders of Mastek as on June 15, 2015 were allotted shares in Majesco in the same proportion (share entitlement being 1:1, pursuant to Part II of the Scheme of Arrangement in terms of clause 11.1.1).

What was the rationale/reasons for such an arrangement/demerger

Insurance Products & Services business is an IP driven business model and is largely US centric. This business needs investments to capitalize on the large opportunity in US market. At the same time, Vertical Solutions business which is focused in the UK market, needs to address newer opportunities and expand the client footprint. Restructuring will enable both the businesses to function independently and focus on their growth plans.

Why had the company felt the need to restructure?

  • Businesses are different in terms of business model, growth opportunities, investment required and staff profile.
    1. While the Insurance Products & Services business offers us tremendous growth potential, it has high investment requirements in terms of R&D, Brand Building and sales.
    2. The Vertical Solutions business offers steady growth which is more profitable with less investment.
  • Combining these businesses under one umbrella made it difficult for each of these businesses to perform to full potential.
  • The differing risk-reward profiles of these two businesses led to sub-optimal overall performance of the company.
  • In order to mitigate these challenges, management decided to restructure the business.

What benefits were expected out of restructuring?

  • Insurance Products & Services business with higher R&D investment and specialized skillsets will be able to gain market leadership. This will lead to higher license revenue and higher profitability.
  • Solution enjoys good reputation for delivering complex, green-field programs within UK and Indian government. This restructuring presents an opportunity to focus on building new capabilities and addressing new markets within the vertical solutions business.
  • Restructuring will provide an opportunity to the shareholders to participate in the business of their choice based on their risk reward profile.
  • Demerger would facilitate independent value discovery of both the businesses leading to maximization of value for shareholders.

What was the share entitlement ratio?

Every shareholder of Mastek will get 1 share in Majesco for every share held in Mastek and the shareholder will continue to hold the original Mastek share.

What was the appointed date for the transaction?

The appointed date for the demerger is April 01, 2014.

What was the effective date for the transaction?

Post High Court approval, the scheme of arrangement was filed with the Registrar of Companies on June 01, 2015, which was the effective date of the transaction.

Why was the appointed date for the demerger retrospective?

Appointed date for the demerger was kept as April 01, 2014 for convenience from an accounting perspective.

When did Majesco Limited got listed?

Majesco Limited got listed on August 19, 2015.

What was the capital structure of Majesco Limited, on the date the De-merger became effective?

The share capital of Majesco Limited was the same as Mastek, on the date, the De-merger became effective.

Get in touch

For more information, you may get in touch with :

Mr. Dinesh Kalani
Company Secretary

Tel : +91 22 6695-2222
Email : investor.relations@mastek.com

Shareholders can write to us for the redressal of any grievances at the following email address:
investor_grievances@mastek.com