Tech Mahindra Limited · NSE:TECHM

Tech Mahindra — Investor Presentation (April 2025)

41 slides from Tech Mahindra's investor presentation, April 2025

Slide 1: Safe Harbor
Safe Harbor Certain statements in this presentation may contain ‘forward-looking statements’ identified by the use of forward-looking words or phrases and statements relating to our future performance and prospects for growth in FY2026 and beyond, our ability to achieve our financial, strategic and
Slide 3: Metrics Beyond Earnings
Metrics Beyond Earnings 162 45 NPS ESAT >50% ~90% Fortune Must Have Top Quartile Highest in Faster Expense Top 2 Analyst Global 500 Accts Added in the Sector Three Years Settlement Quadrants Always Listening, Always Improving Company Confidential | Copyright © 2025 Tech Mahindra. All rights reserved
Slide 5: Capabilities
Strengthened by… Application Development Maintenance & Support Banking Financial Services and Insurance Communications Consulting & Next Gen Services Manufacturing Digital Enterprise Applications Industries Capabilities People Healthcare & Life Sciences Experience Design Services Energy & Utilities
Slide 6: State of AI Today
State of AI Today AI must transition from vision and experimentation to practical and safe value delivery Company Confidential | Copyright © 2025 Tech Mahindra. All rights reserved. 6
Slide 9: AI Delivered Right – Foundational Pillars
AI Delivered Right – Foundational Pillars Our Productivity Transformation Innovation Assurance Commitment Delivered Delivered Delivered Delivered • Build and deliver Agentic • Industry-specific • AI-powered customer • Responsible approach to AI AI systems that bring AI solutions experience through V
Slide 13: 3-Year Roadmap
3-Year Roadmap Q4 FY24 FY25 FY26 FY27 The Beginning Turnaround Phase Stabilization Phase Reaping Returns Structure and Ground the new org Continue above normal Improved long term strategy definition investments structural mix Investment in accounts, key markets, service lines Full integration of Con
Slide 14: The TechM Flywheel
The TechM Flywheel Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus Vision FY27 Topline growth > Peer avg Industry standard margins High predictability Productivity gains M&M synergy Synergy with portfolio cos Talent management Operati
Slide 15: The TechM Flywheel
The TechM Flywheel Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus Vision FY27 Topline growth > Peer avg Industry standard margins High predictability Productivity gains M&M synergy Synergy with portfolio cos Talent management Operati
Slide 16: Balanced Industry Mix
Balanced Industry Mix BFSI Telecom Manufacturing • Partner of the year awarded by Temenos • Serve 9 of top 10 telcos across prioritized • 50%+ penetration in top 30 companies markets across prioritized markets • Secured 15+ New logos (3 in the Fortune 500) • Enhanced Telecom solution portfolio • Sma
Slide 17: Focus on Prioritized Markets
Focus on Prioritized Markets Ecosystem Verticalization Sales Investment Leadership Advisory and PE • US – Sharpened vertical focus • 75%+ sales HC focused • Deeper bench built beyond Telecom & Hi-Tech into on priority markets • 100+ relationships BFSI, MFG, HLS, RTL & more • 15+ roundtables • Specia
Slide 18: Turbocharge and Large Deal Focus
Turbocharge and Large Deal Focus Turbocharge Large deal program Account Team Dedicated Team Dedicated client partner, delivery partner, 60+ people with high pedigree including Deal Directors, named market makers, named marketing anchor Enterprise Architects, Deal Originators and Transition Experts C
Slide 20: The TechM Flywheel
The TechM Flywheel Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus Vision FY27 Topline growth > Peer avg Industry standard margins High predictability Productivity gains M&M synergy Synergy with portfolio cos Talent management Operati
Slide 21: M&M Synergy
M&M Synergy Transformational Leveraging Scale of Group Co-creation Work into Group CXO Digital Cockpit Leveraging M&M group Car Configurator in AR 4k+ KPIs, Data -> Insight -> Action leadership and network for Mahindra Auto Mahindra Finance Transforming consumer Partnering with some of the group’s s
Slide 22: Culture Building
Culture Building Simplify Clarify Innovate Perform Streamlining Building and Enabling internal Driving performance processes to foster communicating a strong and customer orientation & easier collaboration sense of purpose focused innovation delivering excellence Company Confidential | Copyright © 2
Slide 23: Marketing & Branding
Marketing & Branding Brand Demand Expand Grand • Global Chess • WEF, Davos • Renewed • Advisor led deals League MarTech Stack • MWC, NRF, • Private equity • Formula E Hannover Messe • ABM for relations Turbocharge • WSJ Big Thinkers • Integrated Accounts Marketing Campaigns Company Confidential | Co
Slide 24: ESG Leadership
ESG Leadership Terra Carta Seal First Indian company to be awarded the Sustainable Markets Initiative’s Terra Carta Seal Dow Jones Sustainability Index (DJSI) 2024 Top Indian company in Software & Services on DJSI Parameters Targets World Index 2024 and ranked 2nd globally with a score Climate Resil
Slide 25: The TechM Flywheel
The TechM Flywheel Balanced industry mix High growth services focus Focus on prioritized market Turbocharge program Large deal focus Vision FY27 Topline growth > Peer avg Industry standard margins High predictability Productivity gains M&M synergy Synergy with portfolio cos Talent management Operati
Slide 26: Project Fortius
Project Fortius Actions for Sustainable Margin Improvement Sustaining Expanding Horizon Momentum – FY26 Unlock • FPP optimization via Automation, • Portfolio integration Productivity Improvements Process and System integration led margin improvements • Delivery Led Growth • Optimize ARC • Improve av
Slide 27: Transforming Tech Mahindra into a Learning Organization
Transforming Tech Mahindra into a Learning Organization High-Impact Learning Interventions in FY’25 VELOCITY ELITE AI-Based, Skill Capability Gold-standard Key Management enhancement Roles Academies 30%+ 15%+ Platform program for Global for PMs, PGMs, Certification Reskilling Sales Team Large-Deal T
Slide 28: Rapid strides in High-Margin and High-Growth Service Lines
Rapid strides in High-Margin and High-Growth Service Lines Digital Engineering Next Gen Services Cloud Enterprise Apps Services • 11 Awards in last 2 years, incl • ISG - Leader in Digital • 20+ leadership position in • Entered Gartner MQ for Public Best GSSP Partner of the year Engineering and eMobi
Slide 29: Delivery Excellence
Delivery Excellence Talent Planning Skill Large Solution Quality Process and Acquisition Development Deal Review Development & Systems • AI based platform • Hyper personalization • Dedicated solution • Organization • Proactive account for fulfilment of training for client designers, architects, wide
Slide 30: Brighter Super client testimonial
TechM was selected as the single ITO and BPO partner after a rigorous procurement activity. TechM has delivered on reducing Brighter Super’s cost base by 50%, building our member journeys and bringing stability, predictability, and resilience to Brighter Super’s operations. I have been particularly
Slide 32: Financial Trends
Financial Trends Deal Wins (USD Mn) Revenue y-o-y (in CC) 745 798 Actuals Stated Goal 603 534 0.3% Peer Average 500 FY24 FY25 FY26 FY27 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 -4.7% Earnings Before Interest & Taxes (EBIT %) Return of Capital Employed (ROCE) 10.5% 22.60% 10.2% 20.20% 9.6% 19.40% 8.5%
Slide 33: FY25 Metrics
FY25 Metrics Strategic Actions Metric 2025 Change ▪ Growth in account > $20M 2.3% +470 bps Growth ▪ Contribution from NA, Europe, prioritized pockets in APJ 81.3% +2 bps ▪ Net new deals ($Bn) $2.7 +42.5% ▪ Industry mix (Enterprise) 66.9% +1.6% ▪ Entry level workforce as a % of total 27.8% +200 bps M
Slide 34: EBIT Expansion Roadmap
EBIT Expansion Roadmap 15% Portfolio Mix Wage hikes Investments 9.7% Cost Saving Pricing & DLG One time Utilization Subcons Offshoring 6.1% Cost optimization (Reported) N-1 rotation FY 24 FY 25 FY 26 FY 27 Company Confidential | Copyright © 2025 Tech Mahindra. All rights reserved. 34
Slide 35: Robust Free Cashflows
Robust Free Cashflows Days Sales Outstanding (DSO) FY25 Free Cash Flow Dividend as a percentage of FCF 97 96 85% 70% 92 122% Free Cash Flow (FCF) generated 88 as a percentage of Profit After Tax FY24 FY25 FY22 FY23 FY24 FY25 Endeavor to distribute at least 85% of FCF generated over 5 years to shareh
Slide 36: Portfolio Integration
Portfolio Integration Front Office Middle Office Back Office 100% 90% 60% • Sales Integration • Capabilities • Systems - ERP • Go-to-Market Alignment • Scalable Service Delivery • Support Functions Consolidation Critical component of large $50 Mn + deals won off back transformation deal won of capab
Slide 37: Above Normal Investments Driving Long-term, Profitable Growth
Above Normal Investments Driving Long-term, Profitable Growth Service Line Capabilities Ecosystem Productivity • Engineering Services • Hyperscalers • Internal platforms • Digital Enterprise Apps • Niche domain specific • People supply chain • Next Gen (Cloud, D&A, AI) • Industry analysts • Consulti
Slide 38: Key Takeaways
Key Takeaways Confident of making transformation progress, even amidst macroeconomic challenges Margin growth has been sustained, driven by strong operational execution from Project Fortius – even amid flattish overall growth Deal win rates have significantly improved over the last four quarters Con

Tech Mahindra — Investor Presentation (April 2025) on 6ix

Tech Mahindra — Investor Presentation (April 2025)

Slide 1: Safe Harbor

Slide 2: Agenda

Slide 3: Metrics Beyond Earnings

Slide 4: New Mindset

Slide 5: Capabilities

Slide 6: State of AI Today

Slide 7: AI Adoption

Slide 8: AI Delivered Right

Slide 9: AI Delivered Right – Foundational Pillars

Slide 10: Strategic AI Partner

Slide 11: AI Delivered Right

Slide 12: Vision FY27: An Update

Slide 13: 3-Year Roadmap

Slide 14: The TechM Flywheel

Slide 15: The TechM Flywheel

Slide 16: Balanced Industry Mix

Slide 17: Focus on Prioritized Markets

Slide 18: Turbocharge and Large Deal Focus

Slide 19: Autonomous Operations

Slide 20: The TechM Flywheel

Slide 21: M&M Synergy

Slide 22: Culture Building

Slide 23: Marketing & Branding

Slide 24: ESG Leadership

Slide 25: The TechM Flywheel

Slide 26: Project Fortius

Slide 27: Transforming Tech Mahindra into a Learning Organization

Slide 28: Rapid strides in High-Margin and High-Growth Service Lines

Slide 29: Delivery Excellence

Slide 30: Brighter Super client testimonial

Slide 31: Delivering Profitable Growth

Slide 32: Financial Trends

Slide 33: FY25 Metrics

Slide 34: EBIT Expansion Roadmap

Slide 35: Robust Free Cashflows

Slide 36: Portfolio Integration

Slide 37: Above Normal Investments Driving Long-term, Profitable Growth

Slide 38: Key Takeaways

Slide 39: Company Confidential | Copyright © 2025 Tech Mahindra. All rights reserved.

Slide 40: But Most Importantly…

Slide 41: Company Confidential | Copyright © 2025 Tech Mahindra. All rights reserved.