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Tech Mahindra Announces Q4 FY22 Revenues Up 20.9% (up 22.5% in CC) to $1,608m

Financial Results

by Charlotte Carter

published on May 16, 2022

Tech Mahindra has announced its Q4 FY22 and full-year FY22 results, the period ending March 31, 2021:

Q4 FY21:

  • Revenues were $1,608.1m, up 20.9% y/y and up 22.6% y/y at cc
  • EBIT was $211.5m, a margin of 13.2%, down 10.8 pts. 

Full-year FY21:

  • Revenues were $5,997.8m, up 17.3%.
  • EBIT was $872.3m, a margin of 14.5%, up 2.8 pts.

Q4 FY22 NH revenue estimate (and y/y revenue growth) by vertical was:

  • Communications: $653m (+21.7%)
  • Manufacturing: $240m (+9.5%)
  • Technology, media & entertainment $150: (+32.4%)
  • BFSI: $280m (+28.1%)
  • Retail, transport & logistics: $122m (+18.6%)
  • Others: $164m (+17.3%).

Q4 FY22 NH revenue estimate (and y/y revenue growth) by geography was:

  • Americas: $777m (+28.5%)
  • Europe: $425m (+20.3%)
  • Rest of the world: $407m (+9.3%).

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

  • IT services: $1,406m (+18.6%)
  • BPO services: $203m (+39.8%).

Headcount at the end of Q4 FY21 was 151,173, up 24.9% y/y. The breakdown was:

  • Software professional: 85,830 (+25.4% y/y)
  • BPO professionals: 57,315 (+24.3%)
  • Sales & support: 8,028 (+23.5%).

Attrition was 24% (Q4 FY21: 13%). Utilization rate was 83% (Q4 FY20: 87%).

VendorTech Mahindra
Initial currency type (specify local currency used)US$
Period Ending2022-03-31
Growth20.9
Revenues ((m) in local currency1608
Revenues (in $m at that date)1608

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