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
• 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.
• Net 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.
• 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
• 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.”
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:
Investor / Analyst contact:
Shareholders may also contact Mastek via email at Investor_grievances@mastek.com, which has been
specifically created for the redressal of investor grievances. You may also contact the Investor Relations
team by email at email@example.com.
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.