- New accounts added during the quarter: The Company added 25 new clients in Q3FY22. Total active clients during Q3FY22 was 421 as compared to 447 in Q2FY22.
- 12 months Order Backlog: 12 months order backlog was Rs 1,271.3 crores ($171.0 mn) as on 31st December, 2021 as compared to Rs 1,154.3 crores ($155.5 mn) in Q2FY22, reflecting a growth of 10.1 % in rupee terms and 9.9% in constant currency terms on Q-o-Q basis and Rs 946.7 crores ($129.6 mn) in Q3FY21, reflecting a growth of 34.3% in rupee terms and 33.7% in constant currency terms on Y-o-Y basis.
- Employees: As on 31st December, 2021, the company had a total of 4,785 employees, of which 3,581 employees were based offshore in India while the rest were at various onsite locations. Employee count at the end of 30th September 2021 was 4,510.
- Cash Balance: The total cash, cash equivalents and fair value of Mutual Funds stood at Rs 932.3 crores as on 31st December, 2021 as compared to Rs 943.9 crores at the end of 30th September 2021. This is after discharging part purchase consideration of Rs 28.8 crores to CCPS holders of Trans American Information Systems Private Limited and payment of final dividend for FY21 amounting to Rs 26.7 crores during the quarter. Net Cash balance (after adjusting for debts) stood at Rs 715.4 crores as on 31st December, 2021 as compared to Rs 719.1 crores at the end of 30th September, 2021.
Commenting on the Q3Y22 results, Hiral Chandrana, Global Chief Executive Officer, Mastek, said: "We have delivered consistent revenue and order book growth with robust performance across geographies in Q3FY22. Our account mining and integrated solutioning efforts have led to revenue growth in our strategic bets including Health and Life Sciences and our Data / Automation & Oracle Cloud services. We had strong deal momentum which is reflected in our 12 months order backlog of US$171 mn end of December 2021. As part of our Strategic Vision 2025 that will drive accelerated growth over the next 3 years, we have onboarded 2 new global executives, one to lead Marketing & Partnerships and another for Innovation & Platforms as we continue to deliver differentiated business value for our clients across digital & cloud programs."
Arun Agarwal, Global Chief Financial Officer, Mastek, said: "Q3FY22 is another quarter where we demonstrated resilience of our business and delivered a strong financial performance. We reported operating revenue of Rs 551.9 crores, a growth of 24.6% on Y-o-Y basis, reinforcing the strong fundamentals of our business in a seasonally week quarter. Despite industry wide challenges driven by high attrition, investment in talent retention and lateral hires, we have been able to maintain healthy operating EBITDA margin at 21.1%. I am pleased with increasing average deal size in the UK and other geographies. We are confident that our next-gen capabilities, sectoral expertise and client mining strategy are well placed to ensure the velocity at which we grow, add value to our customers and maximize value for our shareholders."
Shares of Mastek Limited was last trading in BSE at Rs. 3218.50 as compared to the previous close of Rs. 3136.70. The total number of shares traded during the day was 15149 in over 2303 trades.
The stock hit an intraday high of Rs. 3270.00 and intraday low of 3070.00. The net turnover during the day was Rs. 48058167.00.
Source : Equity Bulls