MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

506040

Report Date :

28.04.2018

 

 

IDENTIFICATION DETAILS

 

Name :

TECH MAHINDRA LIMITED (w.e.f 11.04.2007)

 

 

Formerly Known As :

MAHINDRA BRITISH TELECOM LIMITED

 

 

Registered Office :

Gateway Building, Apollo Bunder, Mumbai – 400001, Maharashtra

Tel. No.:

91-22-22021031

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

24.10.1986

 

 

Com. Reg. No.:

11-041370

 

 

Capital Investment / Paid-up Capital :

INR 4868.000 Million

 

 

CIN No.:

[Company Identification No.]

l64200mh1986plc041370

 

 

IEC No.:

[Import-Export Code No.]

0389034789

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

aaacm3484F

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACM3484F1ZI

 

 

TIN No.:

27660307657

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :
  • Subject is engaged into Computer Programming, Consultancy and Related services.

 

The Company operates mainly into two sectors i.e.  Telecom business and Enterprise Solutions business.

 

  • The telecom business provides consulting-led integrated portfolio services to customers which are Telecom Equipment Manufacturers, Telecom Service Providers and IT Infrastructure Services, Business Process Outsourcing as well as Enterprise Services (BFSI, Retail & Logistics, Manufacturing, E&U, and Healthcare, Life Sciences, etc.) of Information Technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe.

 

  • The enterprise solutions business provides comprehensive range of IT services, including IT enabled services, application development and maintenance, consulting and enterprise business solutions, extended engineering solutions and infrastructure management services to diversified base of corporate customers in a wide range of industries including insurance, banking and financial services, manufacturing, telecommunications, transportation and engineering services. (Registered Activity)

 

 

No. of Employees :

85839 (Approximately)

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A++

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

 

Status :

Excellent

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Exists

 

 

Comments :

Subject was incorporated in the year 1986 and it is a Mahindra and Mahindra group company. It is engaged in the business of providing Information Technology (IT) based solutions to various clients and has client base in countries spread across North America, Europe and Asia Pacific.

 

As per the financials of March 2017, the company has registered a growth of 10.47% in its revenue as compared to its previous year revenue and reported good profit margin of 13.15% under review.

 

Rating takes into consideration the company’s established track record of business operations marked by healthy net worth along with low solvency indicators and good liquidity position.

 

Rating also takes into account extensive track record with a diversified business profile, a strong and experienced management teams and a robust capital structure.

 

Share are quoted very high on Stock Exchanges. (Share are traded at a price of INR 692.65 against its face value of INR 5.)

 

As per audited financials of December 2017, the company has achieved a revenue of INR 59,677.1 million and has reported good profit margin of 14.05%.

 

Payments are seems to be regular as per commitments.

 

In view of aforesaid, the company can be considered for good business dealing at normal trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long-Term Rating = AAA

Rating Explanation

Highest degree of safety and carry lowest credit risk.

Date

18.07.2017

 

 

Rating Agency Name

CARE

Rating

Short- Term Rating = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

18.07.2017

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2018.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 28.04.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED

 

Name :

Not Divulged 

Designation :

Office Executive

Contact No.:

91-22-22849032 / 2202131

Date :

25.04.2018

 

 

LOCATIONS

 

Registered Office :

Gateway Building, Apollo Bunder, Mumbai – 400001, Maharashtra, India

Tel. No.:

91-22-22021031

Fax No.:

Not Available

E-Mail :

nacheeket.divekar@techmahindra.com

anil.khatri@techmahindra.com

jayaraman.g@techmahindra.com

investorrelations@techmahindra.com

Website :

http://www.techmahindra.com

Location:

Owned

 

 

Corporate Office :

Plot No. 1, Phase III, Rajiv Gandhi Infotech Park, Hinjewadi, Pune – 411 057 Maharashtra, India

Tel. No.:

91-20-42250000 

Fax No.:

91-20-42252501

 

 

Branch Office:

Located at :

 

·         Pune

·         Telangana

·         Mumbai

·         Bangalore

·         Chennai

·         Visakhapatnam

·         Kolkata

·         Noida

·         Gandhi-Nagar

·         Ahmedabad

·         Bhubaneswar

·         Chandigarh

·         Hyderabad

 

 

Overseas Branches :

Located at :

 

·         Singapore

·         Thailand

·         Bangkok

·         Malaysia

·         Indonesia

·         Philippines

·         China

·         United Arab Emirates

·         Bahrain

·         Cairo

·         South Africa

·         Nigeria

·         Zambia

·         Ghana

·         Congo Brazzaville

·         Texas

·         New Jersey

·         Georgia

·         California

·         Washington

·         Toronto

·         Canada

·         United Kingdom

·         Germany

·         Nether Land

·         Australia

·         New Zealand

 

 

DIRECTORS

 

AS ON 31.03.2017

 

Name :

Mr. Chander Prakash Gurnani

Designation :

Managing Director

Address :

House Number A 63, Sector 17, Noida Gautam Buddha Nagar, Noida  - 201301,  Uttar Pradesh, India

Date of Appointment :

10.08.2012

DIN No.:

00018234

 

 

Name :

Mr. Anand Gopal Mahindra

Designation :

Director

Address :

Goolestan 65, Nepean Sea Road, Malabar Hill, Mumbai – 400006, Maharashtra, India

Date of Appointment :

19.09.1995

DIN No.:

00004695

 

 

Name :

Mrs. Rajyalakshmi Rao Meka

Designation :

Director

Address :

Bunglow No. 3, Madhuli, 4, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Appointment :

01.07.2013

DIN No.:

00009420

 

 

Name :

Mr. Vineet Nayyar

Designation :

Director

Address :

5A Friends Colony (West), Mathura Road, New Delhi – 110065, India

Date of Appointment :

17.01.2005

DIN No.:

00018243

 

 

Name :

Mr. Ulhas Narayan Yargop

Designation :

Nominee Director

Address :

S-11, Pemino 1-B, Altamount Road, Mumbai – 400026, Maharashtra, India

Date of Appointment :

01.04.1999

DIN No.:

00054530

 

 

Name :

Mr. Ravindra Krishna Kulkarni

Designation :

Director

Address :

2, Samruddhi, Plot No.19, TPS VI Relief Road, Santacruz (West), Mumbai – 400054, Maharashtra, India

Date of Appointment :

30.03.2009

DIN No.:

00059367

 

 

Name :

Mr. Parthasarathy Vankipuram Srinivasa

Designation :

Director

Address :

501-502,Mayfair Bliss, Lena Cottage Co-operating Housing Society Limited, 7th Road, Khar (West), Mumbai – 400052, Maharashtra, India

Date of Appointment :

10.08.2015

DIN No.:

00125299

 

 

Name :

Mr. Anupam Pradip Puri

Designation :

Director

Address :

17 East 16th Street NY New York 10003

Date of Appointment :

18.10.2002

DIN No.:

00209113

 

 

Name :

Mr. Thothala Narayanasamy Manoharan

Designation :

Director

Address :

2 C.P. Ramaswamy St Abhiramapuram, Chennai – 600018, Tamilnadu, India

Date of Appointment :

01.07.2013

DIN No.:

01186248

 

 

Name :

Mr. Meleveetil Damodaran

Designation :

Director

Address :

D-8.3, D-Block, Vasant Vihar, New Delhi – 110057, India

Date of Appointment :

22.07.2008

DIN No.:

02106990

 

 

KEY EXECUTIVES

 

Name :

Mr. Milind Vasant Kulkarni

Designation :

Chief Financial Officer

Address :

F-1/10, Girija Shankar Vihar, Karve Nagar, Pune – 411052, Maharashtra, India

Date of Appointment :

01.04.2014

PAN No.:

AAGPK5060Q

 

 

Name :

Mr. Anil Mohanlal Khatri

Designation :

Company Secretary and Compliance officer

Address :

Riviera A, SN 43 2A Opposite Shivarkar Garden, Wanawadi, Pune-411040, Maharashtra, India

Date of Appointment :

01.04.2017

PAN No.:

ABGPK1615G

 

 

Audit Committee :

·         Mr. T. N. Manoharan, Chairman

·         Mr. Anupam Puri

·         Mr. M. Damodaran

·         Mr. Ulhas N. Yargop

 

 

Nomination and Remuneration Committee :

·         Mr. Ravindra Kulkarni, Chairman

·         Mr. Anupam Puri

·         Mr. Ulhas N. Yargop

 

 

Stakeholders Relationship Committee :

·         Mr. Ravindra Kulkarni, Chairman

·         Mr. Ulhas N. Yargop

·         Mr. Vineet Nayyar

 

 

Corporate Social Responsibility Committee :

·         Mr. Vineet Nayyar, Chairman

·         Mrs. M. Rajyalakshmi Rao

·         Mr. Ulhas N. Yargop

 

 

Risk Management Committee :

·         Mr. T. N. Manoharan, Chairman

·         Mr. Anupam Puri

·         Mr. M. Damodaran

·         Mr. Ulhas N. Yargop

 

 

Investment Committee :

·         Mr. Ravindra Kulkarni, Chairman

·         Mr. Anupam Puri

·         Mr. C. P. Gurnani

·         Mr. Ulhas N. Yargop

·         Mr. Vineet Nayyar

·         Mr. V. S. Parthasarathy

 

 

Securities Allotment Committee :

·         Mr. Vineet Nayyar, Chairman

·         Mr. C. P. Gurnani

·         Mr. Ulhas N. Yargop

 

 

SHAREHOLDING PATTERN

 

As on March 2018

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

(A) Promoter & Promoter Group

352693512

36.00

(B) Public

626623764

63.96

(C) Non Promoter-Non Public

416532

0.04

Grand Total      

979733808

100.00

 

 

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a % of

A1) Indian

 

Any Other (specify)

352450608

35.97

Mahindra and Mahinda Limited

256248704

26.15

TML Benefit Trust ( Through Mr.Ulhas Narayan Yargop, Trustee) The trust settled by Tech Mahindra Limited ( TML) to hold shares in trust for the benefi

96000000

9.80

Mahindra Holdings Limited

201904

0.02

Sub Total A1

352450608

35.97

A2) Foreign

0.00

Any Other (specify)

242904

0.02

Mahindra Bt Investment Company (Mauritius) Limited

242904

0.02

Sub Total A2

242904

0.02

A=A1+A2

352693512

36.00

 

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

utual Funds/

66142949

6.75

Icici Prudential Balanced Advantage Fund

15862976

1.62

Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Frontline Equity Fund

13229768

1.35

Uti-Mastershare Unit Scheme

10706672

1.09

Alternate Investment Funds

829855

0.08

Foreign Portfolio Investors

371659289

37.93

First State Investments Icvc-Stewart Investors Asia Pacific Leaders Fund

47829519

4.88

Government Pension Fund Global

13680801

1.40

Financial Institutions/ Banks

4363911

0.45

Insurance Companies

50532137

5.16

Life Insurance Corporation Of India

36893539

3.77

Any Other (specify)

10408888

1.06

Foreign Bank

10256

0.00

Foreign Institutional Investors

10398632

1.06

Sub Total B1

503937029

51.44

B2) Central Government/ State Government(s)/ President of India

0.00

Central Government/ State Government(s)/ President of India

2144427

0.22

Sub Total B2

2144427

0.22

B3) Non-Institutions

0.00

Individual share capital upto INR 0.200 million

68774073

7.02

Individual share capital in excess of INR 0.200 million

16932553

1.73

Any Other (specify)

34835682

3.56

Trusts

4406791

0.45

Foreign Nationals

238222

0.02

HUF

1659101

0.17

Non-Resident Indian (NRI)

8662307

0.88

Overseas Corporate Bodies

2348

0.00

Clearing Members

1537294

0.16

Bodies Corporate

17998395

1.84

Unclaimed or Suspense or Escrow Account

331124

0.03

Others

100

0.00

Sub Total B3

120542308

12.30

B=B1+B2+B3

626623764

63.96

 

Statement showing shareholding pattern of the Non Promoter- Non Public shareholder

 

Category & Name of the Shareholders(I)

Total no. shares held(VII = IV+V+VI)

Shareholding % calculated as per SCRR, 1957 As a % of

Employee Benefit Trust

416532

0.04

Sub Total C2

416532

0.04

C= C1+C2

416532

0.04

 

 

BUSINESS DETAILS

 

Line of Business :
  • Subject is engaged into Computer Programming, Consultancy and Related services.

 

The Company operates mainly into two sectors i.e.  Telecom business and Enterprise Solutions business.

 

  • The telecom business provides consulting-led integrated portfolio services to customers which are Telecom Equipment Manufacturers, Telecom Service Providers and IT Infrastructure Services, Business Process Outsourcing as well as Enterprise Services (BFSI, Retail & Logistics, Manufacturing, E&U, and Healthcare, Life Sciences, etc.) of Information Technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe.

 

  • The enterprise solutions business provides comprehensive range of IT services, including IT enabled services, application development and maintenance, consulting and enterprise business solutions, extended engineering solutions and infrastructure management services to diversified base of corporate customers in a wide range of industries including insurance, banking and financial services, manufacturing, telecommunications, transportation and engineering services. (Registered Activity)

 

 

Products / Services :

Products/Services Description

NIC Code

 

Computer Programming, Consultancy and Related services

620

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

---

Contact No.:

---

Since How Long Known :

---

Maximum Limit Dealt :

---

Experience :

---

Remark:

---

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

---

Contact No.:

---

Since How Long Known :

---

Maximum Limit Dealt :

---

Experience :

---

Remark:

---

 

 

No. of Employees :

85839 (Approximately)

 

 

Bankers :
  • Axis Bank Limited
  • BNP Paribas
  • Citibank N. A.
  • HDFC Bank Limited
  • HSBC Bank Limited
  • ICICI Bank Limited
  • JP Morgan Chase Bank N.A.
  • Kotak Mahindra Bank Limited
  • Standard Chartered Bank
  • State Bank of India
  • The Bank of Nova Scotia

 

 

Facilities :

SECURED LOANS

31.03.2017

INR in Million

31.03.2016

INR in Million

Long-term Borrowings

 

 

Finance Lease Obligations

Lease obligations are secured by the assets financed through the finance lease arrangements and are repayable in the equal monthly / quarterly installments over a period of 3-5 years and carry a finance charge.

1742.000

1709.000

 

 

 

Total

1742.000

1709.000

 

Auditors :

 

Name :

Deloitte, Haskins and Sells LLP

Chartered Accountants

Address :

706, “B” Wing 7th Floor, ICC Trader Tower, Senapati Bapat Road, Pune – 411016, Maharashtra, India

Tel. No.:

91-20-66244600

Mobile No.:

91-20-66244605

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Promoter/Enterprise having significant Influence :

Mahindra and Mahindra Limited

 

 

Promoter Group Company/ Enterprise having significant Influence :

·         Mahindra-BT Investment Company (Mauritius) Limited

·         Mahindra Holdings Limited

 

 

100% Subsidiary Company :
  • Tech Mahindra IPR Inc. 100% Subsidiary Company
  • Tech Mahindra GmbH and its following 100% subsidiaries 100% Subsidiary Company
  • TechM IT-Services GmbH 100% Subsidiary Company
  • Tech Mahindra Business Services GmbH 100% Subsidiary Company
  • Tech Mahindra Norway AS 100% Subsidiary Company
  • Tech Mahindra (Singapore) Pte Limited 100% Subsidiary Company
  • Tech Mahindra (Thailand) Limited 100% Subsidiary Company
  • PT Tech Mahindra Indonesia 100% Subsidiary Company
  • Tech Mahindra (Malaysia) SDN. BHD. 100% Subsidiary Company
  • Tech Mahindra (Beijing) IT Services Limited 100% Subsidiary Company
  • Tech Mahindra (Nigeria) Limited 100% Subsidiary Company
  • Tech Mahindra (Bahrain) Limited S.P.C. 100% Subsidiary Company
  • Tech Mahindra Business Services Limited 100% Subsidiary Company
  • Comviva Technologies Limited and its following 100% subsidiaries: 67.10 % Subsidiary Company
  • Comviva Technologies Madagascar Sarlu 67.10% Subsidiary Company
  • Comviva Technologies Inc. 67.10% Subsidiary Company
  • Comviva Technologies Singapore Pte. Limited 67.10 % Subsidiary Company
  • Comviva Technologies FZ-LLC 67.10 % Subsidiary Company
  • Comviva Technologies B.V. and its following 100% Subsidiaries 67.10 % Subsidiary Company
  • ATS Advanced Technology Solutions S A 67.10 % Subsidiary Company
  • ATS Advanced Technology Solutions do Brasil
  • Industria Comercio, Importacao e Exportacao Ltda 67.10% Subsidiary Company
  • Comviva Technologies Colombia S.A.S 67.10% Subsidiary Company
  • Terra Payment Services South Africa (Pty) Limited 67.10% Subsidiary Company
  • Terra Payment Services (Netherlands) BV and its following 100% subsidiaries 67.10% Subsidiary Company
  • Mobex Money Transfer Services Limited 67.10% Subsidiary Company
  • Terrapay Services (UK) Limited 67.10% Subsidiary Company
  • Terra Payment Services (Tanzania) Limited 67.10% Subsidiary Company
  • Terra Payment Services (Uganda) Limited 67.10% Subsidiary Company
  • Terra Payment Services S.A.R.L 67.10% Subsidiary Company
  • Terra Payment Services S.A.R.L 67.10% Subsidiary Company
  • Terra Payment Services (UK) Limited 67.10% Subsidiary Company
  • Terra Payment Services Botswana (Proprietary Limited 67.10% Subsidiary Company
  • Terra Payment Services (Mauritius) 67.10% Subsidiary Company
  • Terra Payment Services S.A.R.L 67.10% Subsidiary Company
  • Comviva Technologies Nigeria Limited and its following 75% subsidiary 67.10% Subsidiary Company
  • Hedonmark (Management Services) Limited 50.33 % Subsidiary Company
  • Tech Mahindra South Africa (Pty) Limited 51% Subsidiary Company
  • Tech Mahindra (Shanghai) Co. Ltd 100% Subsidiary Company
  • Tech Mahindra (Nanjing) Co. Ltd 100% Subsidiary Company
  • Tech Mahindra Technologies Inc. 100% Subsidiary Company
  • Citisoft Plc. and its following 100 % subsidiary 100% Subsidiary Company
  • Citisoft Inc. 100% Subsidiary Company
  • Satyam Computer Services Belgium BVBA
  • Satyam Venture Engineering Services Private Limited and its following 100 % subsidiary 50% Subsidiary Company
  • Satyam Venture Engineering Services (Shanghai) Co Limited 50% Subsidiary Company
  • Satven GmbH 50% Subsidiary Company
  • Tech Mahindra De Mexico S.DE.R.L.DE.C.V 100% Subsidiary Company
  • Customer Philippines, Inc. and its 100% subsidiary 100% Subsidiary Company
  • Customer Philippines (Cebu), Inc. 100% Subsidiary Company
  • Tech Mahindra Servicos De Informatica Ltda and its following 100 % subsidiaries 100% Subsidiary Company
  • Complex IT Solution Consultoria EM Informatica S/A.
  • Tech Mahindra ICT Services (Malaysia) SDN. BHD 100% Subsidiary Company
  • FixStream Networks Inc. and its 100% subsidiary 73.50% Subsidiary Company
  • Quexa Systems Private Limited 73.50% Subsidiary Company
  • TechM Canada Inc. 100% Subsidiary Company
  • Mahindra Technologies Services, Inc. 100% Subsidiary Company
  • Mahindra Engineering Services (Europe) Limited 100% Subsidiary Company
  • Tech Mahindra (Americas) Inc. and its following 100% subsidiaries 100% Subsidiary Company
  • Tech Talenta Inc. 100% Subsidiary Company
  • Tapio Inc. 100% Subsidiary Company
  • Lightbridge Communications Corporation and its following subsidiaries: 100% subsidiary Company
  • Tech Mahindra Network Deployment Services, Inc. 100% subsidiary Company of LCC
  • Tech Mahindra Network Design Services, Inc. 100% subsidiary Company of LCC
  • Tech Mahindra Network Services International Inc. 100% subsidiary Company of LCC
  • LCC Wireless Services, Inc. 100% subsidiary Company of LCC
  • Lightbridge Middle East Holdings, Inc. 100% subsidiary Company of LCC
  • Lightbridge North America Holdings, Inc. 100% subsidiary Company of LCC
  • SARL Djazatech Associate of LCC
  • EURL LCC UK Algerie Associate of LCC
  • LCC Service Belgium NV 100% subsidiary Company of LCC
  • LCC Middle East FZ-LLC 100% subsidiary Company of LCC
  • LCC Engineering & Deployment Services Misr, LTD 100% subsidiary Company of LCC
  • LCC France SARL 100% subsidiary Company of LCC
  • LCC Telecom GmbH 100% subsidiary Company of LCC
  • LCC Design & Deployment Services Ltd. 100% subsidiary Company of LCC
  • LCC India Private Limited 100% subsidiary Company of LCC
  • LCC Italia s.r.l. 100% subsidiary Company of LCC
  • LCC Saudi Telecom Services, Ltd. 100% subsidiary Company of LCC
  • LCC Central America de Mexico, SA de CV 100% subsidiary Company of LCC
  • LCC Wireless Communications Services Marox, SARLAU 100% subsidiary Company of LCC
  • LCC Acquisition Holdings B.V. 100% subsidiary Company of LCC
  • LCC Europe Cooperatief U.A. 100% subsidiary Company of LCC
  • LCC Europe Holdings, BV 100% subsidiary Company of LCC
  • LCC Installation & Services Professionals BV 100% subsidiary Company of LCC
  • LCC Installation & Services Projects BV 100% subsidiary Company of LCC
  • LCC Network Services, B.V. 100% subsidiary Company of LCC
  • LCC North Central Europe, B.V. 100% subsidiary Company of LCC
  • LCC Projects BV 100% subsidiary Company of LCC
  • LCC Professionals, B.V. 100% subsidiary Company of LCC
  • LCC Telecom Infra Professionals BV 100% subsidiary Company of LCC
  • LCC Telecom Infra Projects BV 100% subsidiary Company of LCC
  • LCC Muscat LLC 100% subsidiary Company of LCC
  • LCC Pakistan Private Ltd. 100% subsidiary Company of LCC
  • LCC Networks Poland Sp.z.o.o 100% subsidiary Company of LCC
  • Light Bridge Communications Corporation LLC 95% subsidiary Company of LCC
  • LCC Wireless Communications Espana, SA 100% subsidiary Company of LCC
  • LCC Telekomunikasyon Servis Limited 100% subsidiary Company of LCC
  • LCC Deployment Services UK, Ltd. 100% subsidiary Company of LCC
  • LCC United Kingdom, Ltd. 100% subsidiary Company of LCC
  • LCC Wireless Engineering Services, Ltd 100% subsidiary Company of LCC
  • Merlin Projects, Ltd.
  • Tech Mahindra S.A. 100% subsidiary Company of LCC
  • Tech-Mahindra Bolivia S.R.L. 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions Tchad SARL 100% subsidiary Company of LCC
  • Tech Mahindra Colombia S.A.S. 100% subsidiary Company of LCC
  • Leadcom DRC SPRL 100% subsidiary Company of LCC
  • Tech Mahindra Ecuador S. A. 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions (SPV) SAS 100% subsidiary Company of LCC
  • Leadcom Gabon S.A. 100% subsidiary Company of LCC
  • STA Gabon 100% subsidiary Company of LCC
  • Leadcom Ghana Limited 100% subsidiary Company of LCC
  • Tech Mahindra Guatemala S.A. 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions (L.I.S.) Ltd 100% subsidiary Company of LCC
  • Societe de Telecommunications Africaine (STA) Abidjan 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions Kenya Limited 100% subsidiary Company of LCC
  • Leadcom Mexico S.A. de C.V. 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions Myanmar Co., Ltd 100% subsidiary Company of LCC
  • Leadcom EMEA B.V. 100% subsidiary Company of LCC
  • LeadCom Integrated Solutions International B.V. 100% subsidiary Company of LCC
  • Tech Mahindra Panama S.A. 100% subsidiary Company of LCC
  • Tech Mahindra de Peru S.A.C. 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions Rwanda Ltd 100% subsidiary Company of LCC
  • STA Dakar 100% subsidiary Company of LCC
  • Leadcom Integrated Solutions Tanzania Ltd. 100% subsidiary Company of LCC
  • Leadcom Uganda Limited 100% subsidiary Company of LCC
  • Coniber S.A. 100% subsidiary Company of LCC
  • Tech Mahindra Costa Rica Sociedad Anonima. 100% subsidiary Company of LCC
  • LCC do Brasil Ltda.
  • LCC Diseno y Servicios de RED Peru S.R.L
  • Sofgen Holdings Limited and its following subsidiaries 100% subsidiary Company
  • Sofgen Americas Inc 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Services Limited 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Limited
  • Sofgen (UK) Limited 100% subsidiary of Sofgen Holdings Limited
  • Compania Sofgen SRL
  • Sofgen Luxembourg SARL
  • Sofgen Ireland Limited 100% subsidiary of Sofgen Holdings Limited
  • Sofgen SA 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Consulting AG 100% subsidiary of Sofgen SA
  • Sofgen SaveTax S.A
  • Sofgen SA 
  • Sofgen Africa Limited 100% subsidiary of Sofgen Holdings Limited
  • Sofgen West Africa Limited 100% subsidiary of Sofgen Africa Limited
  • Sofgen India Private Limited 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Sdn. Bhd. 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Services Pte. Ltd. 100% subsidiary of Sofgen Holdings Limited
  • Sofgen Australia Pty Limited
  • Tech Mahindra DRC SARLU 100% Subsidiary Company
  • NTH Dimension Ltd 86.50% Subsidiary Company
  • Tech Mahindra Arabia Limited 51% subsidiary Company
  • Tech Mahindra Netherlands B.V. 100% Subsidiary Company
  • Tech Mahindra Growth Factories Limited 100% Subsidiary Company
  • Tech Mahindra France SAS 100% Subsidiary Company
  • Tech Mahindra Sweden AB 100% Subsidiary Company
  • Tech Mahindra Vietnam Company Limited 100% Subsidiary Company
  • Tech Mahindra Fintech Holdings Limited and Its following subsidiaries: 90.85% Subsidiary Company
  • Target Topco Limited and its following subsidiaries 100% Subsidiary of Tech Mahindra Fintech Holdings Limited
  • Target TG Investments Limited 100% Subsidiary of Target Topco Limited
  • Target Group Limited 100% Subsidiary Target TG Investment Limited
  • Elderbridge Limited 100% Subsidiary of Target Group Limited
  • Target Servicing limited 100% Subsidiary of Target Group Limited
  • Target Financial System Limited 100% Subsidiary of Target Group Limited
  • Target Financial Solution Limited 100% Subsidiary of Target Group Limited
  • Target Computer Group Limited 100% Subsidiary of Target Group Limited
  • Target Group Trustee Company Limited 100% Subsidiary of Target Group Limited
  • Harlosh Limited 100% Subsidiary of Target Group Limited
  • Harlosh NZ Limited 100% Subsidiary of Harlosh Limited
  • The Bio Agency Limited 100% subsidiary company
  • PF Holdings B.V. and its subsidiaries 60% subsidiary Company
  • Pininfarina S.p.A. and its following subsidiaries 76.18% subsidiary of PF Holdings B.V.
  • Pininfarina Extra S.r.l. 100% subsidiary of Pininfarina S.p.A.
  • Pininfarina of America Corp. 100% subsidiary of Pininfarina Extra S.r.l.
  • Goodmind S.r.l. 20% associate of Pininfarina Extra S.r.l.
  • Pininfarina Deutschland Holding Gmbh 100% subsidiary of Pininfarina S.p.A.
  • Pininfarina Deutschland Gmbh 100% subsidiary of Pininfarina Deutschland
  • Holding Gmbh
  • Pininfarina Automotive Engineering (Shanghai) Co Ltd
  • 100% subsidiary of Pininfarina S.p.A.
  • Avion Networks, Inc. Associate Company
  • IQS Information Solutions WLL Associate Company
  • Satyam (Europe) Ltd
  • Vision Compass Inc.
  • Nitor Global Solutions Limited
  • Satyam Computer Services (Egypt) S.A.E
  • Tech Mahindra Foundation Enterprise where the Company is in a position to exercise control (Section 8 Company)
  • Mahindra Satyam Foundation Enterprise where the Company is in a position to exercise control
  • Mahindra Educational Institutions Enterprise where the Company is in a position to exercise control (Section 8 Company)
  • TML Benefit Trust Trust to hold the treasury stock
  • TML Odd Lot Trust Trust to hold the fractional shares
  • New Democratic Electoral Trust (Section 8 Company) Trust in which company holds 19%
  • Tech Mahindra Limited Superannuation Scheme Post-employment benefit Plan
  • Tech Mahindra Limited Employees Gratuity Scheme Post-employment benefit Plan
  • Mahindra Engineering Design And Development
  • Company Limited-Superannuation Scheme
  • Post-employment benefit Plan
  • Mahindra Engineering Services ESOP Trust Trust to administer ESOS scheme
  • Bharti Telesoft International Private Limited Executive
  • Provident Fund Trust
  • Post-employment benefit Plan of subsidiary
  • Bharti Telesoft Ltd. Employees Group Gratuity Trust Post-employment benefit Plan of subsidiary
  • Comviva ESOP Trust Post-employment benefit Plan of subsidiary
  • Satyam Associate Trust Trust to administer ESOP A scheme
  • Axes Technologies Employees Gratuity Trust Post-employment benefit Plan

 

CAPITAL STRUCTURE

 

AS ON 01.08.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1586200000

Equity Shares

INR 5/- each

INR 7931.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital : INR 4839.000 Million

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1586200000

Equity Shares

INR 5/- each

INR 7931.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

974096080

Equity Shares

INR 5/- each

INR 4870.000 Million

556780

Less: Ordinary (Equity) Shares of INR 5 each fully paid up issued to ESOP Trust but not allotted to employees

INR 5/- each

INR (2.000) Million

 

Total

 

INR 4868.000 Million

 

Reconciliation of the number of equity shares outstanding at the beginning and at the end of the reporting period:

 

Particulars

March 31, 2017

 

Equity Shares

 

Number

INR In Million

Shares outstanding at the beginning of the year

967810069

4839.000

Shares Issued during the year

6286011

31.000

Total

974096080

4870.000

Less : Shares issued to ESOP Trust but not allotted to employees

556780

2.000

Adjusted : Issued, Subscribed Share Capital

973539300

4868.000

 

Number of shares held by each shareholder holding more than 5 percent of the Equity Shares of the Company are as follows:

 

Name of Shareholder

March 31, 2017

 

 

No. of Shares held

% of Holding

Mahindra and Mahindra Limited

256248704

26.00

TML Benefit Trust

96000000

10.00

 


i) Aggregate number of fully paid-up Equity Shares allotted by way of Bonus Shares in the immediately preceding five years : 240161577 Equity Shares of INR10 each fully paid-up equivalent to 480323154 Equity Shares of INR 5 each fully paid-up during the year ended March 31, 2015.

 

ii) Each Equity Share entitles the holder to one vote and carries an equal right to dividend.

 

iii) The amount that can be distributed by the company as dividends to its equity shareholders is determined based on the separate financial statements of the company and also considering the requirements of the Companies Act, 2013. The Company declares and pays dividends in Indian Rupees. The shareholders at the Annual General Meeting held on August 2, 2016 approved dividend of INR 12 per equity share for the year ended March 31, 2016 which was subsequently paid. The amount was recognized as distributions to equity shareholders and the total appropriation was INR 13787 Million including corporate dividend tax.

FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4868.000

4835.000

4804.000

(b) Reserves & Surplus

164034.000

145066.000

107754.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

3.000

Total Shareholders’ Funds (1) + (2)

168902.000

149901.000

112561.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1742.000

1709.000

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

3591.000

1281.000

0.000

(d) long-term provisions

3840.000

3466.000

3293.000

Total Non-current Liabilities (3)

9173.000

6456.000

3293.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

0.000

(b) Trade payables

24706.000

21847.000

18331.000

(c) Other current liabilities

19885.000

15989.000

8903.000

(d) Short-term provisions

2358.000

2446.000

14773.000

(e) Suspense account

12304.000

12304.000

12304.000

Total Current Liabilities (4)

59253.000

52586.000

54311.000

 

 

 

 

TOTAL

237328.000

208943.000

170165.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

24276.000

20997.000

19489.000

(ii) Intangible Assets

706.000

774.000

321.000

(iii) Capital work-in-progress

3618.000

6275.000

5511.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

57476.000

38718.000

36309.000

(c) Deferred tax assets (net)

249.000

3855.000

2880.000

(d)  Long-term Loan and Advances

744.000

307.000

10765.000

(e) Other Non-current assets

18970.000

14470.000

1.000

Total Non-Current Assets

106039.000

85396.000

75276.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

19688.000

10497.000

4568.000

(b) Inventories

0.000

0.000

0.000

(c) Trade receivables

45717.000

51544.000

42408.000

(d) Cash and cash equivalents

20839.000

32849.000

18195.000

(e) Short-term loans and advances

5174.000

1612.000

17452.000

(f) Other current assets

39871.000

27045.000

12266.000

Total Current Assets

131289.000

123547.000

94889.000

 

 

 

 

TOTAL

237328.000

208943.000

170165.000

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

231654.000

209698.000

191627.000

 

Other Income

8929.000

10834.000

1245.000

 

TOTAL

240583.000

220532.000

192872.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Employees benefits expense

77444.000

74290.000

72012.000

 

Other expenses

29923.000

23501.000

22774.000

 

Subcontracting expenses

87569.000

78028.000

64182.000

 

Exceptional Item

0.000

0.000

(613.000)

 

TOTAL

194936.000

175819.000

158355.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

45647.000

44713.000

34517.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

638.000

533.000

479.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

45009.000

44180.000

34038.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

6222.000

5417.000

4733.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

38787.000

38763.000

29305.000

 

 

 

 

 

Less

TAX

8314.000

7035.000

6743.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

30473.000

31728.000

22562.000

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

106118.000

72367.000

43856.000

 

 

 

 

 

 

Other Comprehensive Income

(1.000

98.000

0.000

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

0.000

(7732.000)

0.000

 

Transferred on merger of US branch with US subsidiary

2042.000

0.000

0.000

 

Transfer from Share Option Outstanding Account

(28.000)

0.000

0.000

 

Final Dividend Including tax

13787.000

5807.000

33.000

 

Adjustments on account of Amalgamation

0.000

0.000

(1140.000)

 

Transfer from Debenture Redemption Reserve

0.000

0.000

(2972.000

 

Reversal of Provision for Tax on Dividend

0.000

0.000

0.000

 

Dividend (Proposed)

0.000

0.000

5765.000

 

Tax on dividend

0.000

0.000

1173.000

 

Total

15801.000

(1925.000)

2859.000

 

 

 

 

 

 

Balance Carried to the B/S

120789.000

106118.000

63559.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

 

Basic

31.37

32.94

23.58

Diluted

30.94

32.25

22.96

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

39018.000

38558.000

27452.000

Net cash flow from operating activity

33322.000

28763.000

20685.000

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2017

 (Unaudited)

30.09.2017

(Unaudited)

31.12.2017

 (Unaudited)

 

1st  Quarter

2nd Quarter

3rd Quarter

Net Sales

57535.400

59193.700

59677.100

Total Expenditure

49772.100

48660.900

49821.700

PBIDT (Excl OI)

7763.300

10532.800

9855.400

Other Income

3954.700

7354.000

1907.100

Operating Profit

11718.000

17886.800

11762.500

Interest

172.200

189.600

179.000

Exceptional Items

NA

NA

NA

PBDT

11545.800

17697.200

11583.500

Depreciation

1478.600

1584.400

1701.100

Profit Before Tax

10067.200

16112.800

9882.400

Tax

2113.400

2328.700

1500.000

Provisions and contingencies

NA

NA

NA

Profit After Tax

7953.800

13784.100

8382.400

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

7953.800

13784.100

8382.400

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

72.03

89.72

80.78

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.07

4.07

4.52

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

0.00

0.00

0.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.00

0.00

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.60

1.59

1.36

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.26

0.26

0.32

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.01

0.01

0.00

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.35

0.35

0.48

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.17

0.19

0.22

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

71.55

83.89

72.06

 

PROFITABILITY RATIOS

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

 

 

 

Net Profit Margin

[(PAT / Sales) * 100]

%

13.15

15.13

11.77

 

 

 

 

 

Return on Total Assets

[(PAT / Total Assets) * 100]

%

12.84

15.19

13.26

 

 

 

 

 

Return on Investment (ROI)

[(PAT / NetWorth) * 100]

%

18.04

21.17

20.04

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

2.22

2.35

1.75

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

2.22

2.35

1.75

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.71

0.72

0.66

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

0.36

0.35

0.00

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

2.22

2.35

1.75

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

 

STOCK PRICES

 

Face Value

INR 5.00/-

Market Value

INR 692.95/-

 

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

4804.000

4835.000

4868.000

Reserves & Surplus

107754.000

145066.000

164034.000

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

3.000

0.000

0.000

Net worth

112561.000

149901.000

168902.000

 

 

 

 

long-term borrowings

0.000

1709.000

1742.000

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.000

1709.000

1742.000

Debt/Equity ratio

0.000

0.011

0.010

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

191627.000

209698.000

231654.000

 

 

9.430

10.470

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

191627.000

209698.000

231654.000

Profit/ (Loss)

22562.000

31728.000

30473.000

 

11.77%

15.13%

13.15%

 

 


FINANCIAL DATA

[all figures are in INR Million]

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

4388.000

4355.000

(b) Reserves & Surplus

 

159984.000

141554.000

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

(3) Non-controlling interest

 

4641.000

1927.000

Total Shareholders’ Funds (1) + (2)

 

169013.000

147836.000

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

3853.000

1966.000

(b) Deferred tax liabilities (Net)

 

95.000

0.000

(c) Other long term liabilities

 

5270.000

1473.000

(d) long-term provisions

 

6201.000

5311.000

Total Non-current Liabilities (3)

 

15419.000

8750.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

8342.000

8055.000

(b) Trade payables

 

23117.000

22758.000

(c) Other current liabilities

 

28600.000

21997.000

(d) Short-term provisions

 

3870.000

3547.000

(e) Suspense account

 

12304.000

12304.000

Total Current Liabilities (4)

 

76233.000

68661.000

 

 

 

 

TOTAL

 

260665.000

225247.000

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

30717.000

23795.000

(ii) Intangible Assets

 

33884.000

19844.000

(iii) Capital work-in-progress

 

3729.000

6294.000

(iv) Intangible assets under development

 

0.000

0.000

(v) Trade receivables

 

156.000

0.000

(b) Non-current Investments

 

2308.000

1177.000

(c) Deferred tax assets (net)

 

2674.000

5322.000

(d)  Long-term Loan and Advances

 

9.000

0.000

(e) Other Non-current assets

 

23923.000

18954.000

Total Non-Current Assets

 

97400.000

75386.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

21647.000

11248.000

(b) Inventories

 

611.000

403.000

(c) Trade receivables

 

53377.000

57705.000

(d) Cash and cash equivalents

 

32186.000

40180.000

(e) Short-term loans and advances

 

4286.000

0.000

(f) Other current assets

 

51158.000

40325.000

Total Current Assets

 

163265.000

149861.000

 

 

 

 

TOTAL

 

260665.000

225247.000

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

291408.000

264942.000

 

Other Income

 

7776.000

4394.000

 

TOTAL

 

299184.000

269336.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Subcontracting expenses

 

36112.000

35727.000

 

Employees benefits expense

 

154539.000

139475.000

 

Other expenses

 

58913.000

47034.000

 

Share in profit

 

23.000

-26.000

 

TOTAL

 

249587.000

222210.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

49597.000

47126.000

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

1286.000

970.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

48311.000

46156.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

9781.000

7589.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

38530.000

38567.000

 

 

 

 

 

Less

TAX

 

10021.000

8301.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

28509.000

30266.000

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

 

 

 

Basic

 

32.14

34.51

 

Diluted

 

31.64

33.71

 

 

LEGAL CASES

 

LEGAL DETAIL CASES ATTACHED

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

No

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

CORPORATE INFORMATION:

The Company operates mainly into two sectors i.e. Telecom business and Enterprise Solutions business. The telecom business provides consulting-led integrated portfolio services to customers which are Telecom Equipment Manufacturers, Telecom Service Providers and IT Infrastructure Services, Business Process Outsourcing as well as Enterprise Services (BFSI, Retail & Logistics, Manufacturing, E&U, and Healthcare, Life Sciences, etc.) of Information Technology (IT) and IT-enabled services delivered through a network of multiple locations around the globe. The enterprise solutions business provides comprehensive range of IT services, including IT enabled services, application development and maintenance, consulting and enterprise business solutions, extended engineering solutions and infrastructure management services to diversified base of corporate customers in a wide range of industries including insurance, banking and financial services, manufacturing, telecommunications, transportation and engineering services. The Company’s registered office is in Mumbai, India and has over 170 subsidiaries across the globe. The financial statements for the year ended March 31, 2017 were approved by the Board of Directors and authorise for issue on May 26, 2017.

 

BUSINESS PERFORMANCE / FINANCIAL OVERVIEW

 

The Company represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. The Company has presence across 90 countries and helps over 840 global customers including many Fortune 500 companies. The Company’s convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to the stakeholders.

 

In the fiscal year 2016-17 the Company’s consolidated revenues increased to INR 291408 Million from INR 264,942 Million in the previous year, a growth of 10%. The geographic split of revenue was 47% share of Americas, 29% share of Europe and 24% from Rest of the World.

 

The consolidated Profit including other income before Interest, Depreciation, Tax and Exceptional Items was at INR 49,620 Million, against INR 47,100 Million in the previous year. The consolidated Profit After Tax, amounted to INR 28,509 Million as against INR 30,266 Million in the previous year. The number of customers increased from 807 in the previous year to 843 at the end of fiscal year 2016-17.

 

In emerging areas of Big Data, Mobility, Network, Cloud, Security, Platforms and Engineering Services, Tech Mahindra is well placed with its breadth of service offerings. The Company has also progressed well in building intellectual property through various Products & Services and Platforms. The Company is committed towards building a synergistic relationship with its partners to enable, deliver, complete and customized solutions to customers. Tech Mahindra is well positioned in the markets it serves with a broad range of service offerings and a

diversified customer base. There are no material changes or commitments affecting the financial position of the Company between the end of the financial year and date of the report.

 

AWARDS AND RECOGNITION

The Company continued its quest for excellence in its chosen area of business to emerge as a true global brand. Several awards and rankings continue to endorse the Company as a thought leader in the industry. BT

India recognized Mr. C. P. Gurnani, Managing Director & Chief Executive Officer as the Best CEO in IT and ITES industry. The Awards / recognitions received by the Company during the year 2016-17 include:

• India Risk Management Award-CNBC TV 18

• Golden Peacock Award for Corporate Ethics

• One Globe Award for Digital Economy

• Top IT Exporters Award as part of HYSEA Summit & Awards

• Tech Mahindra Foundation received the Best CSR Practices Award and Best Corporate Foundation Award

• ASSOCHAM Second Corporate Governance Excellence Awards

• Drivers of the Digital Awards 2016 honors Tech Mahindra with “Best Digital Enterprise of the Year”

• Mr. C. P. Gurnani won the Asia One Global Indian of the year –Technology

• Recognized in 5 categories at 7th Asia Best employer Brand Awards 2016

• Awarded at NASSCOM HR summit for Excellence in HR Technology Adoption

• Firm Of the Year – IT/ITES at the CNBC TV18 India Risk management Awards

• Frost & Sullivan India ICT Awards 2016

• Golden Peacock Excellence Award – 2016 for outstanding Business Excellence Practices for its BSG division

• Coveted Economic Times Telecom Award 2016

 

MANAGEMENT DISCUSSION AND ANALYSIS

 

COMPANY AND PERFORMANCE OVERVIEW

 

Tech Mahindra Limited is a specialist in digital transformation, consulting and business re-engineering solutions and is a part of the USD 19 Billion Mahindra Group; a global federation of companies divided into 10 business sectors. Befitting its size, the Mahindra Group operates in 20 key industries, providing insightful and ingenious solutions that are global in their ramifications. The companies act as a federation, with an optimum balance of entrepreneurial independence and synergy. From Mobility to Rural Prosperity and Information Technology (IT), from Financial Services to Clean Energy and Business Productivity, Headquartered in Mumbai, India, the Group has an operational presence in over 100 countries and employs more than 200,000 people. And though it operates across vast geographies, governing spirit of Rise™ which binds as one Mahindra.

 

Tech Mahindra offers innovative and customercentric experiences in a connected world, enabling Enterprises, Associates and the Society to Rise™. It is a USD 4.4 Billion company with 117,600+ professionals across 90 countries, delivering value to over 840 global customers including Fortune 500 Companies. Tech Mahindra is also amongst the Fab 50 Companies in Asia as per the Forbes 2016 list.

 

 

Tech Mahindra’s revenue was at INR 291,408 Million (USD 4,351 Million) for the financial year ended March 31, 2017, registering a growth of 10% (7.8% in USD terms) on YoY basis. The Company’s Profit After Tax (PAT) was at INR 28,129 Million (USD 419 Million) for financial year 2016-17. The Company offers a bouquet of services which includes IT Outsourcing Services, Consulting, Next Generation Solutions, Application Outsourcing, Network Services, Infrastructure Management Services, Integrated Engineering Solutions, BPO, Platform Solutions and Mobile Value Added Services. The Company’s innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value to its stakeholders. Tech Mahindra is a Public Limited Company, incorporated and domiciled in India and has its registered office in Mumbai, Maharashtra, India. It has primary listings on the National Stock Exchange of India Limited and BSE Limited.

 

STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER, 31, 2017

 

PARTICULARS

3 Months

9 Months

 

31.12.2017

30.09.2017

31.12.2017

 

[Unaudited]

[Unaudited]

[Unaudited]

1. Income from Operations

 

 

 

Net Sales/income from operations

59677.100

59193.700

176406.200

Other Operating Income

1907.100

7354.000

13215.800

Total income from operations (net)

61584.200

66547.700

189622.000

 

 

 

 

Expenses

 

 

 

Employee benefits expense

20204.100

20237.500

60835.900

Depreciation and Amortization Expenses

1701.100

1584.400

4764.100

Other Expenses

6428.600

6558.100

19817.700

Finance Costs

179.000

189.600

540.800

Subcontracting expenses

23189.000

21865.300

67601.100

Total expenses

51701.800

50434.900

153559.600

Profit/ (Loss) before tax

9882.400

16112.800

36062.400

Tax expenses

1500.000

2328.700

5942.100

Net Profit / (Loss) after tax

8382.400

13784.100

30120.300

Comprehensive Income

816.900 

(1835.100)

(2252.900) 

Total Comprehensive Income

9199.300

11949.000

27867.400

Paid up equity share capital (Face Value of INR 5/-each)

4894.800

 4879.700

4894.800 

Earnings per share (before extraordinary items) of INR 5/- each (not annualized):

 

 

 

(a) Basic

 8.59

14.14 

30.89 

(b) Diluted

 8.51

13.99 

30.60 

 

 

CONTINGENT LIABILITIES (As on 2017)

 

(a) Bank Guarantees/corporate guarantees outstanding as at March 31, 2017: INR 30,374 Million (March 31, 2016: INR 20,245 Million, April 1, 2015: INR 10,313 Million). (The above includes corporate guarantees of

 

• USD 128 Million: INR 8,268 Million, (March 31, 2016 USD 138 Million: INR 9,110 Million, April 1, 2015: USD 40 Million, INR 2,500 Million)

 

• GBP 5 Million: INR 404 Million (March 31, 2016: GBP 5 Million, INR 478 Million, April 1, 2015: GBP Nil, INR Nil),

• EURO 114 Million, INR 7,924 Million (March 31, 2016: Nil, April 1, 2015: Nil) given to the bankers of two group companies for loan availed by them).

 

(b) During the year ended March 31, 2017, the Company has given letter of support of INR 4,831 Million (March 31, 2016: USD 25 Million (INR 1,656 Million), April 1, 2015: USD 51 Million (INR 3,187 Million)) to banks for loans availed by step down subsidiaries of the Company.

 

(c) Outstanding Bill discounting as at March 31, 2017 INR 5,177 Million (March 31, 2016: INR 1,301 Million, April

1, 2015: INR 2,696 Million).

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G56963440

100128118

State Bank of India

11/10/2017

-

-

6170000000.0

INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS,MUMBAI PUNE HIGHWAY, WAKADEWADI PUNE-411003 MAHARASHTRA INDIA

2

B89635106

10460436

KOTAK MAHINDRA BANK LIMITED

19/11/2013

-

-

53267.0

36-38A, NARIMAN BHAVAN, 227,D,NARIMAN POINT, MUMBAI-400021 MAHARASHTRA INDIA

3

B06377931

10178332

IDBI Bank Limited

12/08/2009

14/02/2011

-

3000000000.0

IDBI TOWERWTC COMPLEXCUFFE PARADE MUMBAI-400005 MAHARASHTRA INDIA

4

Y10247783

90148013

BANK OF PUNJAB LTD

22/08/2002

22/08/2002

-

45000000.0

NARIMAN POINT BRANCHMITTAL COURT; 'B' WING; NARIMAN POINT MUMBAI-400021 MAHARASHTRA INDIA

5

Y10212514

90119709

ANDHRA PRADESH INDUSTRIAL DEVELOPMENT CORP. LTD

09/02/1989

-

-

1700000.0

5-9-58/B P.B. NO. 1049 BASHEERABAGH HYDERABAD INDIA

6

G72684749

90121391

GLOBAL TRUST BANK LTD

16/12/1999

10/09/2001

03/01/2018

30000000.0

OXFORD PLAZAS.D.ROAD SECUNDERABAD 500003 INDAI

7

G68934611

10036409

IDBI Bank Limited

03/02/2007

25/02/2011

04/12/2017

6500000000.0

DNYANESHWAR PADUKA CHOWK, F.C.ROADSHIVAJI NAGAR PUNE-411004 MAHARASHTRA INDIA

8

G68121342

10595968

Axis Bank Limited

29/04/2015

-

02/11/2017

6170000000.0

CORPORATE BANKING BRANCH AT 214/215,CITY MALL,2NDFLOOR,GANESHKHIND (PUNE UNIVERSITY) ROAD PUNE-411007 MAHARASHTRA INDIA

9

G54681093

90119767

BANK OF BARODA

11/02/1994

28/07/1997

22/09/2017

66500000.0

BIONPALLY BRANCHMANOVIKAS NAGAR SECUNDERABAD-500009 INDIA

10

G54681663

90120679

BANK OF BARODA

11/02/1994

-

22/09/2017

21500000.0

BIONPALLY BRANCH SECUNDERABAD INDIA

 

 

FIXED ASSETS

 

  • Freehold Land
  • Buildings
  • Computers
  • Plant and Equipment’s
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment’s
  • Leasehold Improvements
  • Taken on Finance Lease
  • Computers
  • Plant and Equipment’s
  • Vehicles

 

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 65.22

UK Pound

1

INR 92.77

Euro

1

INR 80.34

 

 

INFORMATION DETAILS

 

Information Gathered by :

POON 

 

 

Analysis Done by :

VIV

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.