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Mahindra Satyam Triggers Growth Phase with Increased Q4 revenue/margins

posted Jun 06, 2011 13:12:18 by mahindrasatyam
Financial Highlights for the Quarter ended March 31, 2011:
•Consolidated Revenue was INR 1,375 crores, up 7.5% QoQ
•EBITDA before exceptional items was INR 178 crores
•Profit After Tax (before exceptional items) was INR 245 crores, up 118% QoQ
•The extraordinary item pertains to the Class Action settlement reached during quarter
•EPS (before exceptional items) was Rs 2.08 per share in Q4
•PAT (after exceptional items) was INR -327 crores
•EPS (after exceptional items) was Rs -2.78 per share in Q4
Financial Highlights for the year ended March 31, 2011:
•Revenue was INR 5,145 crores, down 6.1% YoY
•EBITDA before exceptional items was INR 455 crores
•PAT (before exceptional items) was INR 494 crores, up 69% YoY
•EPS (before exceptional items) was Rs 4.2 per share For FY11
•PAT (after exceptional items) was INR -147 crores
•EPS (after exceptional items) was Rs -1.25 per share for FY11
Financial Highlights in USD (per Convenience Translation) :
•Fourth Quarter Revenue was USD 304 million, up 7.2% QoQ
•Q4FY11 Operating Profit (EBIDTA before Exceptional items) was at USD 39 million •Q4FY11 PAT (before exceptional items) was at USD 54 million •Revenue for full year was USD 1,128 million
•FY11 Operating Profit (before exceptional items) was USD 100 million
•FY11 PAT (before exceptional items) was USD 108 million

Other Highlights
•Our total headcount stood at 29,266 as of March 31, 2011, a net addition of 434 for the quarter and 1,729 for the year
•During the quarter Active Customer count stood at 230
•Attrition down to 22% in Q4 as compared to 25% in Q3FY11

Vineet Nayyar, Chairman, Mahindra Satyam, said, “This year has been a very satisfying one, given the impressive progress we made on various fronts such as minimizing the legal overhang, fortifying governance mechanisms, and restoring customer and employee confidence”. He also added – “Q4 is yet another quarter that demonstrated continuing progress on Growth, operational efficiencies, high delivery standards and investments into capability building."


Speaking at the occasion, CP Gurnani, CEO, Mahindra Satyam, said, “At the end of the second year of our 3-year journey, we are very pleased with our achievements so far. Throughout the last year, we had many high points to cherish; new engagements, new logos, better than ever appreciation for our work and acknowledgement for our capabilities by customers and analysts”.


Looking forward, he adds – “We are acutely aware of the challenges that lie ahead in this transformation journey. Accelerating profitable growth and building capability to deal with the scale are our key focus areas. Our three-axes focus on Verticals, Geographies and Competencies continue, along with two-in-a-box customer centric engagement model would continue.”

Key wins
Mahindra Satyam continues its growth trajectory with multiple deal wins during this quarter.

• Roche, a global life sciences major headquartered in Europe, partnered with Mahindra Satyam for their IT lifecycle support services
•Qatar University selected Mahindra Satyam for Oracle EBS R12 implementation

In addition Mahindra Satyam announced many key deals during year that include
•Strategic partnership with BASF IT Services to enhance BASF’s capacity to provide managed services for the company’s extensive installed base of SAP, messaging, groupware as well as user administration
•SAP ERP implementation contract by Insurance Regulatory and Development Authority (IRDA)
•Multi-million, multi-year contract from Aspire Zone Foundation, Qatar. The foundation will also utilize Mahindra Satyam’s expertise in event and venue management technologies as part of its ambitious sports event and venue management solution roadmap

Operational Highlights
Delivery
•Mahindra Satyam established a Windows Azure Center of Excellence (CoE) in partnership with Microsoft to provide Azure consulting, development and migration services to enterprise customers transitioning towards cloud
•Launched of Delivery xPress - a service delivery framework for accelerated service delivery
•Launched a single-window ‘Art-to-Part’ engagement model for partners in Aerospace and Defence. This partnership model covers both design and manufacturing areas to provide a seamless engagement experience for partners, covering the complete product development lifecycle including after-market services
•Mahindra Satyam BPO announced Partnership with Direct Channel Holdings (Pty) Ltd. Both the companies will exclusively co-operate in unlocking BPO (business process outsourcing) and KPO (knowledge process outsourcing) opportunities in Sub-Saharan Africa

Infrastructure
•Mahindra Satyam commenced SEZ operations at Hyderabad, India. The SEZ is spread across 26 acres, will have a built up area of 4,00,000 square feet. The first phase of the campus is now operational and will seat around 5,000 associates
•Mahindra Satyam achieved CMMI Level 5 Version 1.2-Development model certification for its development centres at Bangalore, Chennai and Pune. The assessment led by KPMG as per the SCAMPI methodology evaluated Mahindra Satyam on stringent parameters including implementation of Process Performance Models
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