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16 January 2025 INVESTOR PRESENTATION Q3FY25 Presented by: Umang Nahata| Chief Executive Officer , Mastek Arun Agarwal | Chief Financial Officer , Mastek
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Investor Presentation | Earning Deck 2Company Confidential © Mastek 2023. All rights reserved | TABLE OF CONTENTS Highlights of the Quarter1 Financial & Operational Performance2 Key Wins for the Quarter3 Strategic Priorities & GenAI4
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HIGHLIGHTS OF THE QUARTER
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Investor Presentation | Earning Deck 4Company Confidential © Mastek 2023. All rights reserved | HIGHLIGHTS OF Q3FY25 Revenue Growth Year-on-Year Operating EBITDA Margin 12month Order backlog Year-on-Year Growth10.9% 16.2% 3.4% Q3FY25 revenue at ₹ 869.5 Crore Q3FY25 PAT at ₹ 94.7 Crore Revenue grew by 9.4% YoY (USD terms) PAT grew by 21.8% YoY 12 months order backlog grew by 1.5% YoY (CC*) Declared Interim Dividend of 140% or Rs 7 per share 12 Months Order backlog at ₹ 2,138.7 Crore *CC: Constant Currency
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Investor Presentation | Earning Deck 5Company Confidential © Mastek 2023. All rights reserved | Mastek named a Top 15 Sourcing Standout by ISG KEY ACHIEVEMENTS & RECOGNITIONS Mastek recognized in Gartner Market Guide for Oracle Cloud Infrastructure Professional and Managed Services for its expertise in OCI consulting, migration, and managed services. Mastek recognized in Gartner Market Guide for Oracle Cloud Infrastructure Professional and Managed Services. Mastek named a Top 15 Sourcing Standout in the ISG Index 3Q 2024 – Global, Americas and EMEA. Mastek continues to feature in the ISG Booming 15 leaderboard consecutively for several quarters now. Mastek has been recognized as a ‘Major Contender’ in the Everest Group Healthcare Provider Digital Services PEAK Matrix® Assessment 2024 report, underscoring Mastek’s growing expertise in driving impactful digital transformation in healthcare, powered by AI/GenAI, Cloud, Data, and Analytics. Mastek recognized in the Everest Group Healthcare Provider Digital Services PEAK Matrix® Assessment 2024 report Mastek Attains AWS Well-Architected Partner Status Mastek achieved the AWS WellArchitected Partner Status. This partnership status reinforces Mastek's ongoing commitment to deliver optimal business outcomes for its clients by optimizing AWS architectures for efficiency, scalability, resilience, and cost savings.
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FINANCIAL & OPERATIONAL PERFORMANCE
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Investor Presentation | Earning Deck 7Company Confidential © Mastek 2023. All rights reserved | FINANCIAL PERFORMANCE 659 709 725 766 784 780 813 867 870 17.3% 17.7% 17.5% 16.1% 17.0% 16.0% 15.2% 16.5% 16.2% 10.1% 10.2% 10.1% 8.5% 9.9% 12.0% 8.8% 14.7% 10.8% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% - 100 200 300 400 500 600 700 800 900 1,000 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Revenue from Operations (₹ Crore) Operating EBITDA Margin PAT Margin
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Investor Presentation | Earning Deck 8Company Confidential © Mastek 2023. All rights reserved | CONSOLIDATED FINANCIAL HIGHLIGHTS Q3FY25 Comparison: Quarter-on-quarter & Year-on-year (Figures In ₹ Crore) Operating Revenue Operating EBITDA & Margin (%) PAT & Margin (%) 12 Months Order Backlog 784.3 867.4 869.5 Q3FY24 Q2FY25 Q3FY25 133.5 143.1 140.7 17.0% 16.5% 16.2% Q3FY24 Q2FY25 Q3FY25 2,067.6 2,194.7 2,138.7 Q3FY24 Q2FY25 Q3FY25 77.7 128.7 94.7 9.9% 14.7% 10.8% Q3FY24 Q2FY25 Q3FY25 0.2% QoQ 10.9% YoY 1.7% QoQ 5.3% YoY 26.4% QoQ 21.8% YoY 0.5% QoQ (CC) 1.5% YoY (CC) *CC: Constant Currency PAT normalized for exceptional items and tax thereof at Rs 88.4 crore in Q3FY25 vs Rs 85.6 crore in Q2FY25, up 3.3% YoY
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Investor Presentation | Earning Deck 9Company Confidential © Mastek 2023. All rights reserved | Key Performance Metrics Revenue from Operations ($mn) Revenue from Operations (₹ Crore) Other Income (₹ Crore) Total Income (₹ Crore) Op. EBITDA PBT PAT Basic Q3FY24 Diluted Op. EBITDA PBT PAT Revenue Margins (₹ Crore) Margin (%) EPS (₹) QoQ Growth YoY GrowthQ3FY25 869.5 $102.9 9.5 879.0 140.7 125.7 94.7 16.2% 14.3% 10.8% 30.7 30.3 Q2FY25 CONSOLIDATED FINANCIAL SUMMARY – Q3FY25 867.4 $103.6 5.0 872.4 143.1 128.9 128.7 16.5% 14.8% 14.7% 41.7 41.2 784.3 $94.0 3.4 787.6 133.5 101.7 77.7 17.0% 12.9% 9.9% 24.6 24.3 12month Order Backlog ₹ Crore $mn 2,138.7 249.8 2,194.7 261.9 0.1% (CC*) 0.2% 87.9% 0.8% (1.7)% (2.5)% (26.4)% (32)bps (48)bps (397)bps 9.4% 10.9% 181.0% 11.6% 5.3% 23.5% 21.8% (85)bps 138bps 90bps 2,067.6 248.5 *CC: Constant Currency
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Investor Presentation | Earning Deck 10Company Confidential © Mastek 2023. All rights reserved | Key Performance Metrics Revenue from Operations ($mn) Revenue from Operations (₹ Crore) Other Income (₹ Crore) Total Income (₹ Crore) Op. EBITDA PBT PAT Basic Diluted Op. EBITDA PBT PAT Revenue Margins (₹ Crore) Margin (%) EPS (₹) 9MFY25 2,549.8 $303.7 18.7 2,568.5 407.7 353.2 294.9 16.0% 13.8% 11.5% 95.5 94.5 9MFY24 CONSOLIDATED FINANCIAL SUMMARY – 9MFY25 12month Order Backlog ₹ Crore $mn 2,138.7 249.8 10.6% 12.1% 77.1% 12.4% 6.3% 20.8% 36.2% (87)bps 96bps 200bps YoY Growth 2,275.1 $274.7 10.6 2,285.6 383.6 292.3 216.6 16.9% 12.8% 9.5% 68.0 67.3 2,067.6 248.5
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Investor Presentation | Earning Deck 11Company Confidential © Mastek 2023. All rights reserved | OPERATING METRICS Q3FY25 Q2FY25Strengthening our business New Clients Added Active Client during the Quarter Top 5 Top 10 Total Employee • Offshore • Onsite Diversity (Women employees) Value (In mn) – $ Average rate/ ₹ LTM attrition Days Value (In mn) – £ Average rate/ ₹ Client Base Employee Base DSO FX Hedges for next 12 months No. of Clients with Annual Billing > USD 1mn Q3FY25 10 351 30.4% 41.5% 5,260 3,638 1,622 28.1% 20.1% 89 20.1 108.8 6.8 85.7 79 Utilization net of leave 85.0% 14 380 28.5% 39.9% 5,505 3,821 1,684 28.2% 20.1% 95 22.8 108.9 7.7 85.1 78 85.6% Q3FY24 27 436 30.4% 40.2% 5,518 3,889 1,629 28.9% 20.0% 94 15.1 109.5 9.0 83.3 73 85.4%
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Investor Presentation | Earning Deck 12Company Confidential © Mastek 2023. All rights reserved | BALANCE SHEET METRICS 9MFY25 – CONSOLIDATED Figures In ₹ Crore # Return on Equity = PAT/Average Networth; Return on Capital Employed = EBIT/Average Capital Employed Cash & Cash Equivalent Return on Equity# Return on Capital Employed# 270.0 473.3 497.0 FY23 FY24 9MFY25 20.7% 16.1% 17.2% FY23 FY24 9MFY25 24.0% 17.7% 16.5% FY23 FY24 9MFY25
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Investor Presentation | Earning Deck 13Company Confidential © Mastek 2023. All rights reserved | REVENUE ANALYSIS Q3FY25 – CONSOLIDATED Balancing Our Portfolio 54.9% 55.9% 56.8% 30.0% 28.2% 28.3% 15.1% 15.9% 14.9% Q3FY24 Q2FY25 Q3FY25 UK & Europe US AMEA Revenue by Market Region Revenue by Contract Type 59.2% 58.3% 57.1% 40.8% 41.7% 42.9% Q3FY24 Q2FY25 Q3FY25 Time & Material Fixed Price
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Investor Presentation | Earning Deck 14Company Confidential © Mastek 2023. All rights reserved | 43.0% 40.7% 39.0% 17.9% 17.9% 21.6% 12.0% 14.4% 13.3% 15.3% 14.1% 14.1% 11.8% 12.9% 12.0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Q3FY24* Q2FY25 Q3FY25 Government & Education Health & Life Sciences Retail/ Consumer Manufacturing & Technology Financial Services OPERATIONAL PERFORMANCE Revenue By Industry Segments Q3FY25 – Consolidated Note: # Financial Services includes consultancy/ professional services * Previous Quarters have been restated as per latest terminology #
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Investor Presentation | Earning Deck 15Company Confidential © Mastek 2023. All rights reserved | OPERATIONAL PERFORMANCE Revenue By Service Line Q3FY25 – Consolidated 43.2% 44.9% 48.9% 29.1% 32.0% 29.6% 18.1% 13.5% 13.6% 9.5% 9.6% 7.9% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Q3FY24* Q2FY25 Q3FY25 Digital & Application Engineering Oracle Cloud & Enterprise Apps Digital Commerce & Experience Data, Automation and AI Note: * Previous Quarters have been restated as per latest terminology
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KEY WINS FOR THE QUARTER
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Investor Presentation | Earning Deck 17Company Confidential © Mastek 2023. All rights reserved | KEY WINS FOR THE QUARTER Government, Education & Financial Services Americas Client A UK government department responsible for welfare, pensions and child maintenance. A beachfront community located in southeastern part of USA with more than 150,000 residents. About the deal Mastek will develop the Counter Fraud and Error Management Service (CFEMS) and be responsible for its continuous improvement. The scope includes the design and building of new functions and features to meet future operational requirements. CFEMS will be a key enabler to enhance the use of data, analytics and intelligence for prevention and redressal of fraud, error, and debt. In collaboration with a local consulting partner, Mastek will provide managed services for Oracle Cloud solutions, including Financials, SCM, HCM, EPM — as well as platform and infrastructure services. This partnership will enable the client to continuously thrive as a sustainable city, leveraging diversity and innovation to leverage economic opportunities. AMEA A leading financial services company in the Kingdom of Saudi Arabia — and part of one of the largest conglomerate in the region — providing a wide range of loan products. Mastek signed a three-year multi-tower, multi-pillar deal for implementing an Oracle ERP surround transformation program. Mastek will provide services spanning over Oracle Fusion ERP, Oracle Fusion HCM, DBA & Linux, PMO & Change Management, Quality Assurance & Control, Low-Code / No-Code, and JAVA. UK & Europe Central government department responsible for Immigration policies in the United Kingdom. Mastek will provide technical, architectural, and testing capabilities to analyse, develop and improve the client’s immigration platform. Mastek will also deliver strategic departmental initiatives for future expansion, enable case working systems to be deployed outside the country, deliver border and immigration systems and enhance Electronic Travel Authorisation (ETA). UK & Europe
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Investor Presentation | Earning Deck 18Company Confidential © Mastek 2023. All rights reserved | KEY WINS FOR THE QUARTER Publicly funded healthcare system in England. A global Fortune 500 provider of advanced analytics, technology solutions, and clinical research services for the life sciences industry. Mastek will transform the data provisioning service for the client to uplift strategic collection mechanisms, consolidate specified legacy systems, transition to a single common data platform, simplify data assets, increase platform architecture visibility, standardize pipeline design, optimize tooling and workflows, and introduce greater automation in platforms, products, and pipelines. Mastek will implement and customize its GenAI-based product, Lightbeam, to provide a unified view of multiple Snowflake instances through a dashboard. Additionally, Mastek will enable cost and query optimization, through operational and financial efficiencies. A leading company revolutionizing healthcare apparel through its extensive and diverse brand portfolio. Mastek will execute a managed services program (MSP) to offer scalable data management and advanced analytics. The MSP will align projects with a flexible resource pool, provide long- term consulting and reduce ownership costs. A leading provider of outsourced pharmaceutical research services to the pharmaceutical and biotechnology industries. Mastek will implement Oracle HCM to modernize the client’s HR landscape, while navigating the complexities of European and US legislations. Mastek’s global expertise in Oracle solutions, and its deep understanding of the client’s unique requirements will enhance their workforce productivity and profitability. Americas AmericasUK & Europe UK & Europe Healthcare Client About the deal
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Investor Presentation | Earning Deck 19Company Confidential © Mastek 2023. All rights reserved | KEY WINS FOR THE QUARTER Retail, Manufacturing & Technology Client A global provider of energy storage solutions and a trusted manufacturer of original equipment across various industries. About the deal Mastek entered a multi-year, multi- country agreement to deploy the Oracle Cloud Enterprise suite across key European regions. This will deliver scalable operations, significant cost savings, and improved decision-making to enable the client achieve a competitive edge in key markets. It will also ensure compliance, data harmonisation, and empower users through targeted training. AMEA Large mining company in Australia. Mastek will implement the Oracle HCM platform for the client’s Australia and Papua New Guinea operations to transform their HR processes, build a platform to adopt best practices, and scale their operations to grow their business in this region. UK & Europe Americas Leading American Fortune 500 multinational premium athletic apparel retailer. As a strategic technology partner, Mastek has signed multiple incremental deals for delivering critical D2C initiatives across the client’s enterprise IT landscape. The surround commerce strategy includes multiple migrations, analytics, marketing and business-driven functionalities in D2C & B2B websites. Americas Leading American Fortune 500 company specializing in sales of recreational vehicles, vehicle parts and vehicle service. Mastek has signed multiple incremental deals for executing enterprise modernization initiatives to drive the client’s consumer engagement and business growth. As the client’s strategic technology partner, Mastek has also signed a 3-year infrastructure management deal to support and patch all internal devices.
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STRATEGIC PRIORITIES & GENAI
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Investor Presentation | Earning Deck 21Company Confidential © Mastek 2023. All rights reserved | MASTEK’S AI STRATEGY – 3 CORE PILLARS Develop cutting edge innovative AI-powered solutions for specific customer use cases • Launching AI Engineering Practice with focus on building customer focused RAG and Agentic AI based solutions • Q4FY25 – Finalize Strategic Partnerships and go-to-market strategy Integrate AI seamlessly into existing systems & operations — delivering application development, Cloud ERP , Data, or CRM/CX projects. • Identified Toolset, created best practices and built assets to scale adoption of Gen AI for Mastek’s Delivery teams to drive efficiencies at scale • Launched ADOPT .AI, an AI-driven cloud implementation framework designed to accelerate time-to-value Design & develop custom AI solutions tailored to unique business and industry specific needs. • Develop SLM (Small Language Models) and industry focused solutions leveraging NVIDIA stack & Mastek’s Startup partner ecosystem 01 02 03
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Investor Presentation | Earning Deck 22Company Confidential © Mastek 2023. All rights reserved | GEN AI AT MASTEK • Generative AI Foundation: Define your vision, prove value, build the foundation • Generative AI Transformation: Unleash value by scaling Generative AI solutions and gaining a competitive edge • Generative AI Acceleration: Fast-track innovation and growth through Gen AI • Configure & deploy pre-built assets - Virtual Assistants, Domain specific solutions • Proof of Concept Development • RAG & Agentic AI based solutions • Gen AI in Business Apps – Oracle, Salesforce, Microsoft • LLM based enterprise apps development • Data Modernization & Fine-tuning of foundation models • AI Augmented Software Engineering InfoGENius CXO Insights Legal Contract Assistant AI Amigo Composite AI ADOPT.AI AI driven cloud implementation framework 1800+ Trained on prompt engineering for SDLC Reduce Knowledge Latency Enhance Customer Experience Drive Operational Efficiencies Leveraging strategic partnerships and expertise across Gen AI providers
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Investor Presentation | Earning Deck 23Company Confidential © Mastek 2023. All rights reserved | FY25 MASTEK STRATEGY & ENABLERS Public Sector in UK (Secure Govt. Services) Data & AI Growth & Differentiation Account Mining (Top 30 a/c globally) Mgd.Services (Cloud Enhancement & Mgd. Svs) Healthcare focus in US & Globally Oracle & Salesforce Service Lines Mastek Brand & Culture Customer Delight Innovation with GenAI Strategic Partnerships Differentiated Talent ENABLING PILLARS Trusted Digital Engineering and Cloud Transformation Partner Core Values, Culture, and ESG
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This presentation contains information that may be privileged or confidential and is the property of Mastek. Copyright © 2022 Mastek. All rights reserved. THANK YOU Note: Except for the historical information and discussion contained herein, statements included in this release may constitute forward looking statements. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those that be projected by these forward looking statements. These risks and uncertainties include, but not limited to such factors as competition, growth, pricing environment, recruitment and retention, technology, wage inflation, law and regulatory policies etc. Such risks and uncertainties are detailed in the Annual Report of the company which is available on the website www.mastek.com. Mastek Ltd. undertakes no obligation to update forward looking statements to reflect events or circumstances after the date thereof.