Key Financial Data
All numbers are as per US GAAP, in mn US$, unless otherwised stated
|Earnings before interest, tax, depreciation and amortization EBITDA||1,009||1,539||1,777||1,995||2,345|
|Operating Income, EBIT||942||1,414||1,552||1,688||1,946|
|Diluted EPS (in INR)||26.3||29.9||31.3||36.8||40.8|
|Other Key Metrics|
|Effective Tax Rate||21.0%||18.8%||20.9%||19.7%||20.9%|
|Net Income Margin||17.9%||18.1%||17.4%||16.7%||15.6%|
|Return on Equity||28.2%||27.7%||25.5%||24.9%||23.6%|
- EPS for FY’15 to FY’19 have been adjusted for Bonus Issue announced on October 23, 2019.
- FY'16 financials (as above) are basis 9 months ended 31-Mar-2016, however diluted EPS and ROE for FY'16 have been annualized.
- ROE formula: Profit After Tax / Last five Quarter Average of Total Equity.
Corporate and Financial Highlights
- Committed to reduce our environmental impact: We aim to limit our GHG emissions aligned to a 1.5° C pathway by 2030 and to reach net-zero by 2040.
- The company has adopted IFRS accounting standard with transition date as April 1, 2020. The previous period numbers (FY’21 and FY’22) have been recast using IFRS standards.
- Strong Booking performance: For full year FY’22, TCV of New Deal wins at US$ 8,308 mn, registering 14% YoY growth. ACV is higher by 21% YoY on full year basis. TCV of New Deal wins at US$ 2,260 mn for Q4, registering 6% QoQ growth. 10 Net New deal wins in Q4 of which
- Services TCV at US$ 2,216 mn enabled by 6 net new large Services deal wins
- Products TCV at US$ 54 mn enabled by 4 net new large Product deal wins
- Significant number of small deals
- FY’22 Revenue growth at 12.7% YoY in Constant Currency.
- Services Revenue crossed the US$ 10 bn milestone and registered a growth of 14.9% YoY cc for FY’22.
- Q4 FY’22 Revenue growth at 1.1% QoQ cc (13.3% YoY cc).
- During Q4, Services business has grown at 5.0% QoQ cc (17.5% YoY cc), with a CQGR of 5.2% for 3 consecutive quarters
- Engineering and R&D Services grew at robust 3.9% QoQ cc (23.7% YoY cc) driven by traction in digital engineering and IoT Works.
- IT and Business Services grew at healthy 5.2% QoQ cc (16.2% YoY cc), driven by acceleration in cloud transformation and application and data modernization.
- All around growth across verticals and geographies YoY in constant currency for the quarter.
- Growth momentum led by Telecom, Media, Publishing & Entertainment (20.2%), Lifesciences & Healthcare (18.5%), Manufacturing (16.6%), Technology & Services (14.3%), and Financial Services (10.2%).
- Geography growth powered by Europe (13.6%), Americas (13.0%) and ROW (15.0%).
- Mode 2 continues to lead the growth momentum growing at 31.8% YoY in Constant Currency during FY’22.
- Strong client addition across all categories. On YoY basis, US$ 100 mn+ clients up by 1, US$ 50 mn+ clients up by 8, US$ 20 mn+ clients up by 22, US$ 10 mn+ clients up by 30, US$ 5 mn+ clients up by 31, and US$ 1 mn+ clients up by 73.
- Net Income grew at robust 18.3% YoY in Q4. The stellar growth in Net Income is after excluding the impact of one-timers like the Milestone bonus of US$ 78.8 mn and DTL on Goodwill of US$ 165.1 mn, last year.
- Total headcount at 208,877 with Net Addition of 39,900 during the year, up by 23.6% YoY. Net Additions during the quarter was brisk at 11,100, up 5.6% sequentially.
- Cash Generation continues to be robust:
Annual Fiscal Particulars FY'22 As % of Net Income YoY OCF 2,265 125.3% -14.6% FCF 2,044 113% -14.6% Quarter Ended 31-Mar-22 As % of Net income QoQ YoY 735 154.8% 24.3% 54.4% 685 144.2% 29.3% 67.4%
- Gross Cash stands at US$ 2,914 mn and Net Cash at US$ 2,388 mn at the end of March 31, 2022.
- The company has declared a dividend of ₹18 per share for the quarter.