Tech Mahindra Limited · NSE:TECHM
Tech Mahindra — Q3 FY25 Earnings Presentation
20 slides from Tech Mahindra's earnings presentation, Jan 17, 2025
Slide 1: Exchange filing cover letter: outcome of board meeting
Tech Mahindra Limited TECH Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India rnal,indra Tel. +91 20 6601 8100 techmahindra.com connect@techmahindra.com 17th January, 2025 CIN L64200MH1986PLCO41370 To, BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Dala
Slide 2: Board meeting outcome and integrated filing disclosures
The Board meeting on 17th January, 2025, commenced at 11.45 a.m. (IST) and concluded at 3.32 pm (IST). This intimation shall also be considered for Integrated Filing (Financial) for the quarter and nine-months ended 31st December, 2024 pursuant to the SEBI (Listing Obligations and Disclosure Require
Slide 3: Earnings Presentation Q3 FY'25
TECH Scale at Sf1=B e d mal,indra + > + > Earnings + + + + + + + + + + + + + + + + + + + + + + + + + + + > + > + > + + + + + + + + Presentation + + + + + + + + + + + + + + + + + + + Q3 FY’25 December 2024 Copyright © 2025 Tech Mahindra. All rights reserved. 1
Slide 4: Q3 FY25 Snapshot
TECH mal,indra Q3 FY25 Snapshot $ 1,567 Mn 7.4% $ 199 Mn Revenue PAT Margin Free Cash flow 10.2% $ 745 Mn EBIT Margin Net New Deal Wins + + + + + + > > + + + + Copyright © 2025 Tech Mahindra. All rights reserved. 2
Slide 5: Q3 FY25 Snapshot (YoY)
Q3 FY25 Snapshot TECH mal,indra All trends are YoY, except where specified FINANCIAL OPERATIONAL SEGMENT GEOGRAPHY Revenue Headcount Americas ♦ -0.4% IT ♦ (up 1.3% cc) t 150,488 ( up 4,238) ♦ -1.0% ♦ (up 0.8% cc) -2.3% ( down 1.8% cc) EBIT % IT LTM attrition BPS Europe t 10.2% (up 480 bps) t 11.2% (
Slide 6: Q3 FY25 Snapshot (QoQ)
Q3 FY25 Snapshot TECH mal,indra All trends are QoQ, except where specified FINANCIAL OPERATIONAL SEGMENT GEOGRAPHY Revenue Headcount Americas IT ♦ -1.3% 150,488 ♦ -1.0% -1.8% (down 3,785) ( down 1.3% cc) ♦ (1.2% cc) ♦ (up 1.6% cc) EBIT % IT LTM attrition BPS Europe t 10.2% (up 60 bps) t 11.2% (up 60
Slide 7: Vertical Performance Q3 FY25
TECH mal,indra Vertical Performance Q3 FY25 Banking, Financial Technology, Retail, Healthcare & VERTICALS Communications Manufacturing Services & Media & Transport Others Lifesciences Insurance Entertainment & Logistics % SHARE 32.5% 16.8% 16.1% 14.3% 8.0% 7.7% 4.6% + % YoY -5.6% -7.2% 8.3% 3.5% -1.
Slide 8: Management Commentary
TECH mal,indra Management Commentary “We see an improved rate of deal wins in our key verticals and priortised markets. This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals.” ''
Slide 9: Deal-Win Performance
TECH Deal-Win Performance mal,indra Total TCV Q3 FY25: $ 745 Mn Won a new logo with one of the Selected by a large German Telco to Selected by a global leading Hi-Tech largest telecom operator in Europe, support their technology domains and Mobile company for end-to-end being a strategic partner, fo
Slide 10: Strategic Highlights: AI
TECH mal,indra Strategic Highlights: AI Solution Launches and Updates Tech Mahindra Launches agentX, a Comprehensive Suite of GenAI Solutions to Drive Efficiency for Enterprises Globally Launch of agentX Established Gen AI COE Launch of Indus 2.0 at Tech Mahindra launched Partnered with a global lea
Slide 11: Strategic Highlights: Brand Awareness & Perception
Strategic Highlights: Brand Awareness & Perception - CED ~J TECH mahindra India's + follow , nlockJn9Giobo1 ~~nce. Nitesh Aggarwal U:, • 2nd He ping Tech Mah"ndra Sea e@ Speed I CMf Strategy ... ••• lmpactful ld • ® CEOsof2024 Well, we had a role to play in the #event that had evef)'one go #bananas!
Slide 12: Other Highlights
TECH mal,indra Other Highlights NEW LAUNCHES, PARTNERSHIPS & COLLABORATIONS agentX ~ nVIDIA. aws.;J '=, Empowering Businesses with Intelligent Al Solu tions Tech Mahindra announced launch of Tech Mahindra announced the Tech Mahindra signed a multi-year TechM agentX—a comprehensive suite establishmen
Slide 13: ESG & People Highlights
TECH mal,indra ESG & People Highlights 000 STRENGTH & ATTRITION ~ AWARDS – Received Bombardier’s Diamond Supplier certification for the third time, recognising TechM’s outstanding operational performance, dedication to upholding high-quality standards, and innovative aerospace engineering services o
Slide 14: Analyst Recognitions
TECH mal,indra Analyst Recognitions – Positioned as a Leader in Everest Group Quality Engineering (QE) Services for AI Applications and Systems PEAK Matrix® Assessment 2024. – Positioned as a Leader in Multi Public Cloud Services 2024-Consulting and Transformation Services — Midmarket-Nordics, Multi
Slide 15: Management Commentary
Management Commentary TE CH ma l,in dr a “We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets. Our continued
Slide 16: Financial Snapshot Q3 FY25
TECH mal,indra Financial Snapshot Q3 FY25 REVENUE ($ Mn) GROSS PROFIT ($ Mn) EBIT ($ Mn) PAT ($ Mn) 149 / 105* 1,573 1,589 1,567 444 451 153 159 116 377 84 61 Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 DILUTED EPS (Rs) FCF ($ Mn) CASH & EQUIVALENTS ROCE % ($ Mn) 14.1 25.
Slide 17: Operational Snapshot Q3 FY25
TECH mal,indra Operational Snapshot Q3 FY25 HEADCOUNT UTILIZATION IT ATTRITION (LTM) HEADCOUNT MIX (including trainees) (Onsite) 154,273 150,488 146,250 87.6% 86.3% 85.6% 26.1% 10.3% 10.6% 11.2% 23.7% 22.7% Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 Q3'24 Q2'25 Q3'25 ACTIVE CLIENTS TOP 10
Slide 18: Other Financial Highlights
TECH mal,indra Other Financial Highlights ~ j[ 0 ° 11 0 ••• CASH CONVERSION TREASURY OTHERS Hedge book $ 2.1 Bn Tax rate 23.8% Free cash flow $199 M DSO 88 days USD/INR average exchange rate 84.73 + + + + + + > > + + + + Copyright © 2025 Tech Mahindra. All rights reserved. 16
Slide 19: Financial Summary Q3 FY25
TECH mal,indra Financial Summary Q3 FY25 in $ Mn Q3FY’25 QoQ YoY Revenue 1,567 -1.3% -0.4% EBIT 159 4.0% 88.1% EBIT % 10.2% Other Income 2 -96.9% -81.8% + + Miscellaneous + Interest Income 13 > > Exchange Gain / (Loss) (11) + + Operational Profit Before Tax 153 1.4% 87.2% Provision for tax 36 Operat
Slide 20: Copyright © 2025 Tech Mahindra. All rights reserved.
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + > > > + + + + + + + + + + + + + + + + + + + + + + Copyright © 2025 Tech Mahindra. All rights reserved. 18