9 118853 42483 18729 3191 0 15539 5584 0 2689 934

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Unformatted text preview: 13.1 2.4 44.9 12.3 4.6 -20.0 nm 20.6 2.7 21.4 18.7 2.4 30.6 4.0 1.5 -22.3 nm 30.4 51.9 21.9 19.3 1.6 32.6 3.5 1.3 -36.8 nm 15.6 11.0 20.0 17.5 1.4 27.1 2.7 1.1 -47.7 nm 16.9 17.0 19.4 17.2 1.2 24.5 2.3 1.0 -55.3 nm Financial Summary DB EPS (INR) Reported EPS (INR) DPS (INR) BVPS (INR) Asia India Software & Services Tech Mahindra Ltd Reuters: TEML.BO Bloomberg: TECHM IN Weighted average shares (m) Average market cap (INRm) Enterprise value (INRm) Valuation Metrics Buy Price (6 Jan 14) INR 1,817.65 Target Price INR 2,200.00 52 Week range INR 909.75 - 1,861.15 Market Cap (m) INRm 219,936 USDm 3,523 Company Profile Income Statement (INRm) Tech Mahindra Limited is an India-based company that provides information technology (IT) services and solutions to the global telecommunications industry. The Company's service offerings include business process outsourcing, infrastructure management services and value-added services. As a result of its longstanding relationship with BT, the company has an established presence in the European market. Price Performance 2000 1600 1200 Sales revenue Gross profit EBITDA Depreciation Amortisation EBIT Net interest income(expense) Associates/affiliates Exceptionals/extraordinaries Other pre-tax income/(expense) Profit before tax Income tax expense Minorities Other post-tax income/(expense) Net profit DB adjustments (including dilution) DB Net profit 800 400 Jan 12Apr 12Jul 12Oct 12Jan 13Apr 13Jul 13Oct 13 Tech Mahindra Ltd Cash Flow (INRm) Cash flow from operations Net Capex Free cash flow Equity raised/(bought back) Dividends paid Net inc/(dec) in borrowings Other investing/financing cash flows Net cash flow Change in working capital BSE 30 (Rebased) Margin Trends 24 22 20 18 16 14 12 Balance Sheet (INRm) 11 12 13 14E EBITDA Margin 15E 16E EBIT Margin Growth & Profitability 200 50 40 150 30 100 20 50 10 0 0 11 12 13 14E 15E Sales growth (LHS) 16E Key Company Metrics ROE (RHS) Solvency 60 40 20 0 -20 -40 -60 - 80 11 12 13 Net debt/equity (LHS) 14E 15E Cash and other liquid assets Tangible fixed assets Goodwill/intangible assets Associates/investments Other assets Total assets Interest bearing debt Other liabilities To...
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This document was uploaded on 02/06/2014.

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