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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.

    Mastek Limited (“the Company”) 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 has the following subsidiaries located in India, United Kingdom (UK) & United States of America (U.S.A.):

    • • Trans American Information Systems Private Limited - India (Wholly Owned Subsidiary of Mastek Limited
    • • Mastek (UK) Limited – United Kingdom. (Wholly Owned Subsidiary of Mastek Limited)
    • • IndigoBlue Consulting Ltd - United Kingdom(Wholly Owned Subsidiary of Mastek (UK) Limited)
    • • Digility Inc – U.S.A. (Wholly Owned Subsidiary of Mastek (UK) Limited)
    • • TAISTech LLC, U.S.A. - (Wholly Owned Subsidiary of Digility Inc., U.S.A.)
    • • Trans American Information Systems Inc. – U.S.A - (Wholly Owned Subsidiary of Digility Inc., U.S.A.)

    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 US 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.

    As of March 31, 2018, the Mastek Group had 2058 employees.

    Mastek has seven development centers out of which two are located in and around Mumbai, two in Chennai and one each in Noida, Gurgaon and Pune.

    Mastek has 7 Marketing offices : 2 in UK, 3 in U.S.A and domestic marketing offices in Mumbai and New Delhi.

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

    Financial Year
    Share Outstanding in Mn
    Dividend Per Share
    Total dividend Rs in Lakhs

    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

    2017

    23.38

    3.50

    817.35

    The Annual Report as well as Quarterly Results along with Analysis, Press Release and Analyst Presentation are available on the Company’s website at https://www.mastek. com/financial-information These are also available on the websites of BSE Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com), where the shares of the Company are listed.

    The Registrar and Share Transfer Agent (RTA) of Mastek Limited since April 2016 are:
    Karvy Computershare Private Limited Unit:
    Mastek Limited Address: Karvy Selenium, Tower B, Plot No. 31-32,
    Gachibowli, Nanakramguda, Financial District, Hyderabad - 500032,
    Telangana. Phone: Tel.: +91-040-6716-2222;
    Fax: +91-040-2342-0814;
    Toll Free no.: 1800-345-4001
    E-mail: einward.ris@karvy.com
    Contact Person: Ms. Sripriya Senthilkumar

    For the transfer of shares in physical form and noting your change of address, you need to write to Company’s Registrar & Share Transfer Agent, Karvy Computershare Private Limited (mailing address given in section 21 above).
    Transfer of shares in the electronic mode is effected through your Depository Participant only. Limited (www.bseindia.com) and National Stock Exchange of India Limited (www.nseindia.com), where the shares of the Company are listed.

    You may contact Company’s Registrar & Share Transfer Agent, Karvy Computershare Private Limited (mailing address given in section 21 above), 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

    The Company extends ACH mode facility to all its shareholders. The dividend amount of shareholders availing ACH mode facility is directly credited to their bank accounts. Shareholders holding shares in physical form may submit a Mandate form to Karvy Computershare Private Limited (RTA) (mailing address given in section 21 above), for availing ACH mode facility. Those holding shares in demat form are advised to please update their Demat Account details with proper and correct Bank account details with their Depository Participant.

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

    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 (I) Limited (CDSL). A comprehensive list of DPs is available at www.nsdl.com and www.cdslindia.com.

    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 (I) Limited (CDSL).

    The PAN Update/E-Communication Registration form annexed elsewhere in this Annual Report can be sent to through e-mail at: (a) einward.ris@karvy.com OR(b) investor_grievances@mastek.com

    Members holding the shares in demat form may furnish their E-mail id details to the respective Depository Participants in their prescribed formats.

    The PAN Update/E-Communication Registration form should be signed by the sole/first named Member as per the specimen signature recorded with the Registrar and Share Transfer Agent of the Company. Even after registering the e-communication, members are entitled to receive such communications in physical form on request made by them.

    FAQs on de-merger

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

      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).

      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.

      • 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.
      • 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.

      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.

      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.

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

      Majesco Limited got listed on August 19, 2015.

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