WNS has announced results for Q4 and full FY21, for the period ending March 31, 2021.

Q4 FY21:

• Net revenues (less repair payments) were $228.3m, down 3.2% y/y, down 6.0% in CC.
• EBIT was $34.7m, a margin of 15.2%, up 1.0 pts y/y

FY21:

• Net revenues (less repair payments) were $868.7m, down 3.1%, down 3.3% in CC
• EBIT was $135.1m, a margin of 15.5%, down 0.9 pts.

Q4 FY20 net revenue (and y/y growth) by service line was:

• Industry specific $104.5m +4.9%
• Autoclaim $2.7m -30.0%
• Contact center $38.7m -17.4%
• F&A $59.2m +6.6%
• Research & analytics $24.2m -2.2%
• Technology services $5.3m +34.6%
• Legal services $0.9m
• HRO $0.3m

Q4 FY21 revenue share (with NH estimates of net revenue and y/y growth) by region was:

• Europe 7.2% ($16.4m, -12.1%)
• North America 46.0% ($105.1m, +2.6%)
• U.K. 28.0% ($64.0m, -11.4%)
• South Africa 3.2% ($7.3m, -11.6%)
• Others 15.5% ($35.5, +3.9%).

Q4 FY21 revenue (and y/y growth) by sector was:

• Travel and leisure $31.1m, -23.7%
• Insurance $58.3m, -9.1%
• Healthcare $45.5m, +15.7%
• Utilities $11.2m, -21.1%
• Banking & financial services $13.4m, +32.2%
• Manufacturing, retail, consumer products, telecom & diversified business $35.9m, -8.8%
• Consulting & professional services $16.8m, +23.2%
• Shipping & logistics $16.8m, +13.9%.

Q4 FY21 share of total revenues (and estimated revenue) by client contribution was:

• Largest client 8.3% ($19.0m)
• Top 5 clients 26.8% ($61.1m)
• Top 10 clients 42.0% ($96.0m)
• Top 20 clients 57.2% ($130.6m)

FY21 net revenue (and y/y growth) by service line was:

• Industry specific $384m +5.6%
• Autoclaim $11.0m -23.3%
• Contact center $159.3m -17.3%
• F&A $219.3m +3.9%
• Research & analytics $97.5m +1.2%
• Technology services $20.8m +57.2%
• Legal services $3.1m
• HRO $0.9m

 FY21 revenue share (with NH estimates of net revenue and growth) by region was:

• Europe 7.1% ($61.4m, -17.4%)
• North America 46.5% ($403.5m, +2.8%)
• U.K. 27.9% ($242.7m, -6.4%)
• South Africa 3.0% ($26.4m, -25.3%)
• Others 15.5% ($124.6m, flat).

 FY21 revenue (and growth) by sector was:

• Travel and leisure $129.2m, -22.5%
• Insurance $222.7m, -1.2%
• Healthcare $172.9m, +17.9%
• Utilities $41.9m, -27.8%
• Banking & financial services $42.6m, +5.1%
• Manufacturing, retail, consumer products, telecom & diversified business $139.4m, -8.8%
• Consulting & professional services $56.4m, +13.5%
• Shipping & logistics $63.5m, +13.3%.

 FY21 share of total revenues (and estimated revenue) by client contribution was;

• Largest client 8.5% ($74.2m)
• Top 5 clients 27.6% ($239.9m)
• Top 10 clients 43.4% (377.2m)
• Top 20 clients 58.5% ($507.9m).

Headcount at the end of the quarter was 44,292, a net increase in the quarter of 2,531.

WNS has net revenue guidance for FY22 of $945m - $997m, a growth of 8.8-14.8%, or 7-13% on a CC basis.