MAHINDRA
SATYAM
(SATYAM COMPUTER SERVICES LIMITED)
FIRST QUARTER RESULTS
Q1 FY 2013
MAHINDRA SATYAM (Satyam computer services Limited) has
reported excellent improvement in its performance in the quarter ending June,
2012. The High Lights of its unaudited Consolidated financial Results (Under
Indian GAAP)are as below :
Financial Highlights
Ø
Consolidated Revenues at Rs 1880 crore, up 31%
YoY
Ø
EBITDA at Rs 408 crore, margins at 21.7%, up by
417 bps QoQ
Ø
PAT at Rs 352 crore, as compared to Rs 225 crore
in the previous year
Ø
EPS was Rs 2.99 per share in Q1
Financial Highlights in USD (per convenience translation)
Ø
Q1 Consolidated Revenues at USD 342 million
Ø
EBITDA at USD 74 million
Ø
PAT at USD 64 million
Other Highlights:
Ø
Total headcount stood at 35,996 as of June 30,
2012, a net addition of 2,643 QoQ
Ø
Attrition improved to 13.5% in Q1FY13 as
compared to 17.3% in corresponding quarter of the last year
Ø
Active clients totalled stood at 372 on a
consolidated basis
Ø
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
Ø
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
Ø
Chosen by a leading Middle East and Africa, real
estate developer for implementation for Oracle and Hyperion suites
Ø
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
Ø
Appointed to assist a leading Middle East-based
investment group has chosen Mahindra Satyam for its Oracle R12 implementation
Ø
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.
New Product launches
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.
Consolidated P&L Summary
|
Consolidated
P&L Summary
|
Quarter Ended
|
Growth YoY
|
Qtr Ended
|
Growth QoQ
|
|
|
30-Jun-12
|
30-Jun-11
|
31-Mar-12
|
|||
|
Revenues
|
1,880
|
1,434
|
31.10%
|
1,666
|
12.80%
|
|
C&B
cost - Personnel and Sub Con
|
1,216
|
1,008
|
|
1,114
|
|
|
Operating
Expenses
|
256
|
213
|
|
261
|
|
|
EBITDA
|
408
|
213
|
91.70%
|
292
|
39.80%
|
|
EBITDA
Margins
|
21.70%
|
14.80%
|
|
17.50%
|
|
|
Other
Income
|
134
|
98
|
|
73
|
|
|
Depreciation
/ Amortisation
|
49
|
38
|
|
42
|
|
|
Interest
and Financing Charges
|
3
|
5
|
|
3
|
|
|
Exceptional
Items
|
-
|
-
|
|
-109
|
|
|
Profit
Before Tax
|
489
|
268
|
82.20%
|
430
|
13.80%
|
|
Provision
for Tax
|
133
|
43
|
|
-94
|
|
|
Profit
After Tax (after Minority Interest)
|
352
|
225
|
56.40%
|
534
|
-34.10%
|
|
EPS
- Rs/Share for the Quarter
|
2.99
|
1.91
|
|
4.54
|
|
* *
* E N D *
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