Friday, August 03, 2012:
Mahindra Satyam, a leading global consulting and IT services provider, today announced its unaudited consolidated financial results under Indian GAAP for the first quarter ended June 30, 2012.
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Financial Highlights for the quarter ended June 30, 2012:
· Consolidated Revenues at Rs 1880 crore, up 31% YoY
· EBITDA at Rs 408 crore, margins at 21.7%, up by 417 bps QoQ
· PAT at Rs 352 crore, as compared to Rs 225 crore in the previous year
· EPS was Rs 2.99 per share in Q1
Financial Highlights in USD (per convenience translation)
· Q1 Consolidated Revenues at USD 342 million
· EBITDA at USD 74 million
· PAT at USD 64 million
Other Highlights:
· Total headcount stood at 35,996 as of June 30, 2012, a net addition of 2,643 QoQ
· Attrition improved to 13.5% in Q1FY13 as compared to 17.3% in corresponding quarter of the last year
· Active clients totalled stood at 372 on a consolidated basis
· Cash and cash equivalent stood at Rs 3,058 crore as of 30th June 2012
Vineet Nayyar, Chairman, Mahindra Satyam, said, “With this quarter, we have successfully ended our 3-year transformational journey, recording progress on the back of strong fundamentals, focus and investments. Global business realities continue to be unpredictable. However we are confident of taking forward our momentum.”
Speaking on the occasion, CP Gurnani, CEO, Mahindra Satyam, said, “We compete in the marketplace today with investments in services, markets and our differentiators. Our plans to convert some of these bullets into cannonballs is a reflection of our performance this quarter.”
Key Wins
· Won a five-year multi-million dollar engagement with a leading low-cost airline in the Asia-Pacific (APAC) region to provide Infrastructure management support
· Chosen by a leading Middle East and Africa, real estate developer for implementation for Oracle and Hyperion suites
· Selected by a world leader in card-based, self-service transaction systems, security products and customer service company to provide engineering services for ATM sub modules
· Appointed to assist a leading Middle East-based investment group has chosen Mahindra Satyam for its Oracle R12 implementation
· Awarded a multi-million dollar contract by a worldwide leader in software, services and solutions in infrastructure management and Consulting & Enterprise solutions service line
Operational Highlights
· The merger of Tech Mahindra and Mahindra Satyam, announced on March 21st, 2012, is progressing on schedule. During the quarter, Mahindra Satyam’s shareholders overwhelmingly approved the merger with Tech Mahindra in a meeting conducted on June 8th.
Partnerships
· Mahindra Satyam announced a global alliance partnership with Galorath Inc., a leading provider of estimation solutions, called the SEER solutions. The partnership will focus on the “SEER for Manufacturing” solution in order to provide its Should Costing methodology for cost modeling and benchmarking to discrete manufacturing companies across the aerospace, industrial, energy and automotive industries.
· Enhanced its existing relationship with Symantec Corporation to jointly improve smart grid network security, which would enhance Mahindra Satyam’s ability to deliver secure and effective smart grid services to utilities globally.
· Partnered with Oxygen Finance to market Oxygen’s cloud-based Accelerated Payment system, which enables organizations to speed up settlement of supplier invoices in exchange for additional income. This strategic initiative is part of Mahindra Satyam’s drive to build its non linear business and create added value for customers
· Mahindra Satyam, Tech Mahindra and CA Technologies entered into a global partnership, through completion of a Global Framework Agreement (GFA). The partnership facilitates provision of shared and managed services to new and existing customers through a joint, strategic approach. Further, Tech Mahindra and Mahindra Satyam established the Mahindra CA Research centre at Pune which will enable co-innovation and delivery of joint offerings.
Infrastructure
· Mahindra Satyam announced it has established an exclusive delivery center for Aerospace and Defense in Toulouse, France. This is a part of the company’s larger strategy of expanding its European footprint by focusing on strengthening relationships with regional Aerospace and Defense businesses. It is Mahindra Satyam’s second such investment after setting up its first dedicated Aerospace centre in Hamburg, Germany in 2008. The new centre is expected to ramp-up operations and create opportunities for local talent in Engineering, Information Technology and Communications domains.
· During the quarter Mahindra Satyam inaugurated its Oracle Support Center at Johannesburg. The centre will provide support for JD Edwards solutions primarily for its African clients.
· Mahindra Satyam announced the opening of its new delivery centre in Fargo, North Dakota. This near-shore centre will be offering innovative solutions in Business Processes and Infrastructure Management Services sector and IT Services. Mahindra Satyam will share space with Cargill’s Global Business Services Center in Fargo.
Awards, References, New Product launches
· Recognized with the ITsAP award for The Third –Best IT/ITeS exporter from Andhra Pradesh, Dr. C. Rangarajan, Chairman of the Prime Minister's Economic Advisory Council, presented the award at the 20th Annual ITsAP Awards in Hyderabad.
· Mahindra Satyam was awarded “the Best Sourcing Relationship in Business Process Outsourcing” by Information Services Group (ISG) (NASDAQ: III), a leading technology insights, market intelligence and advisory services company.
· During the quarter Mahindra Satyam launched the Oracle Campus Solution offering on Cloud for higher education institutions in Malaysia. This is first time such a complete cloud-based service for student recruitment, enrollment, administration and to student financial information management is offered in the country.
· Mahindra Satyam launched the Structural Testing Analysis & Measurement of Projects (STAMP), an Innovative Structural Quality Service Powered by CAST. This new offering aims at analyzing structural quality of the application stack, delivering higher performance, greater reliability and increased security to the customers as well as reducing underlying technical debt.
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