Tech Mahindra to cover COVID-19 vaccination cost for all employees globally
Currently, over 121,900 professionals across 90 countries work for the company.The company has urged all its associates to register themselves for vaccination through the government app - CoWIN/Aarogya Setu, and follow the mandated process Tech Mahindra-Perigord deal seems logical, but execution is key
This acquisition seems logical as it will help Tech Mahindra expand its capabilities in the global pharmaceutical, healthcare, and life science segment, according to analysts. Tech Mahindra acquires 70% stake in Perigord; here's what next [details]
This acquisition will help Tech Mahindra to augment expertise in the global pharmaceutical, healthcare and life science (HLS) sectors, the company said in a statement. TECH MAHINDRA LTD. - 532755 - Announcement under Regulation 30 (LODR)-Acquisition
Approval of proposal for acquisition of majority stake in Perigord Asset Holdings Limited ('Perigord') TECH MAHINDRA LTD. - 532755 - Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
Pursuant to the provisions of the Listing Regulations, we wish to inform the Stock Exchange of the resolution passed by the Securities Allotment Committee of the Board of Directors of the Company on 11th March 2021 for issue and allotment of a total of 1,68,040 equity shares of Rs. 5/- each of the Company. Tech Mahindra Ltd - 532755 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of Schedule of Investor Interaction with Tech Mahindra''s Leadership. Tech Mahindra partners with ThoughtSpot to offer AI-driven analytics
Tech Mahindra will integrate ThoughtSpot's search and AI-driven analytics platform with its Virtual Analyst platform to drive multi-level data analysis and empower users with real-time insights to make informed business decisions TECH MAHINDRA LTD. - 532755 - Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
Hon'ble Supreme Court vide order dated 26th February, 2021 has dismissed the Special Leave Petition filed by The Directorate of Enforcement, Hyderabad, for provisional attachment of fixed deposits aggregating to Rs. 822 crores pursuant to Section 5(1) of Prevention of Money Laundering Act, 2002, of erstwhile Satyam Computer Services Limited.
Tech Mahindra surprises in Q3FY21, but all eyes on 5G rollout
From earning most of its revenues from the telecom sector, Tech Mahindra has expanded its service offering over the years. The acquisition of Satyam helped, but the company has also been trying to reduce its reliance on the communications vertical. In the recently concluded December 2020 quarter, its results were better than expected. Tech Mahindra’s stock has more than doubled after touching its 52-week low in March last year. Tech Mahindra’s service portfolio constitutes infrastructure and cloud, network services, data analytics, cyber security, business process services (BPS), digital supply chain, telecom product engineering and enterprise business solutions. Quick Takes: Net new deal wins stood at $4.5 billion and Tech M has a robust deal pipeline The company has won a $50 million communications deal in Q3 FY21, adding to traction witnessed in small and medium-sized deals The street expects strong recovery in communications business spurred by 5G rollout which has been delayed by Covid19 outbreak 5G is a medium-to-long term opportunity and Tech Mahindra is expected to be the largest beneficiary when the technology is rolled out across the world December 2020 quarter results surprises Tech Mahindra (TechM) registered consolidated net profit of Rs 1,309 crore for Q3 FY21, a 14% rise from a year ago. This is ahead of what the street estimated. The outperformance from the street’s expectations was led by strong operating leverage, offshoring and higher utilization of employees. This helped its earnings before interest and tax (EBIT) margin expand by 170 basis points (bps) to 15.9%. This is TechM’s highest reported EBIT margin over the past four quarters. Driven by healthy demand in communication and enterprise verticals, dollar revenues rose 3.5% sequentially to $1.3 billion. Consolidated revenues in rupee terms were flattish YoY at Rs 9,647 crore with a sequential increase of 3% in the December 2020 quarter. CP Gurnani, MD and CEO at Tech Mahindra said the company saw all-round growth, particularly in Europe. The communications group, network services group and manufacturing have performed well this quarter. Communications vertical sees decent growth If we look at TechM’s Q3 segmental performance, the communications vertical still dominates its revenues contributing 40% to revenues. Revenues from the vertical rose 4.4% sequentially, but saw a 9.7% YoY decline. The vertical’s performance was powered by robust network business and 5G related projects. Network services business encompassing complete lifecycle from design, planning and engineering, rollout, operations and maintenance of networks grew in double digits in Q3 FY21. Manufacturing vertical, which makes up 16.3% of total revenues, is now on a stable growth trajectory as it posted a 4.4% QoQ rise in revenues in the December 2020 quarter. This is after the company saw a 11% sequential revenue decline in the June quarter from manufacturing clients. Manufacturing growth was led by engineering services in the auto segment and revival of the autonomous driving segment, electric vehicles, and other industrial projects. Usually, banking financial services and insurance (BFSI) is the largest revenue earner for most IT services companies, but for TechM it’s the third largest in terms of revenues. Nearly 16% of TechM’s total revenues come from BFSI. Although growth was stagnant sequentially, YOY rise was a robust 17% for revenues from BFSI clients. Revenues from technology, media & entertainment (9% of total revenues) rose 19.5% YoY. Retail segment, (8% of revenues) is primarily segmented into e-commerce and fixed retail business. 5G rollout the next trigger for revenue growth Even after 10 years of Satyam acquisition, TechM is still the largest telecom IT service provider. But with muted growth rates over the past few years from communications, it’s the enterprise segment driving the growth wagon since FY15. The enterprise segment encompassing BFSI, manufacturing, media and retail has been growing in strong double digits over the past five years, except FY20. On an overall basis, the company has grown its revenue and PAT at a CAGR of 10% and 9% between FY15-20. TechM is far ahead of Wipro’s low single digit growth, almost moving in tandem with TCS, Infy and HCL Tech. Growth could have been faster and stronger, had it not been impeded by TechM’s inherent structural weaknesses due to higher client concentration, less diversified revenue mix and delayed investments in the digital landscape. Even though Q3 FY21 performance has not been stellar compared to its peers, TechM has re-ignited interest among investors and analysts alike. Net new deal wins stood at $4.5 billion and robust deal pipeline, which is one of the best in the enterprise segment over the last six quarters. The street is expecting a strong recovery in communications business spurred by the 5G rollout, which has been delayed by Covid19 outbreaks. While there has been speedy progress on 5G coverage expansion in the US and China, Europe has been lagging behind. In the US, 75-80% of the country's population will be covered with 5G by June-July 2021. For India, though leading telecom Airtel demonstrated its 5G readiness in January 2021, commercial rollout is expected only by early 2022. For the Indian IT space, 5G is roughly $ 8-10 bn opportunity. IT companies witness revenue accretion only after the cycle of spectrum auction is completed, post which hardware and software installation is completed by the telecom service provider. The upcoming 5G spectrum auction continues to be a structural uncertainty for telecom players, considering past controversies. Apart from catering to telecom companies, TechM also sees a big opportunity in the enterprise segment. The company is witnessing a strong deal pipeline as Internet of Things, manufacturing, health and education requirements pour in. 5G helps in reducing costs, unifying supply chains, higher automation and boost productivity for the manufacturing sector. In healthcare, 5G technology has made remote monitoring of patients possible, expanded telemedicine and enhanced augmented reality and virtual reality for less invasive treatments. 5G helps in providing higher capacity, aiding IoT and improving remote learning opportunities, while changing the dynamics of the education system. TechM is also designing 5G-enabled handsets for 4 well-known brands. As per the management, IT spends from telecom space will start accruing from FY22. While communication revenues were 12% for Infosys in Q3 FY21, for TCS, Wipro and HCL Tech contribution falls between 5-9% of total revenue mix. TechM will be the largest beneficiary of the 5G rollout with 40% of its revenues accruing from the telecom sector. The company expects its enterprise business to grow in double digits and communications in mid-single digits. Investors and analysts seem optimistic, as the street hopes that 5G will pan out effectively. TECH MAHINDRA LTD. - 532755 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Intimation of Schedule of Investor Interaction with Tech Mahindra''s Leadership.