Pune – October 25th, 2021: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering services today announced the audited consolidated financial results for its quarter ended September 30, 2021.
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| Financial highlights for the quarter (₹) |
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CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,
“As we record our highest sequential growth in a decade, we remain committed to deliver long-term sustainable and profitable growth for the company. We have witnessed strong traction across all key markets as we invest in our digital capabilities through strategic partnerships. We continue to accelerate our clients’ digital journey by creating Human Centric Experiences, helping them gear up for tomorrow, today.”
Milind Kulkarni, Chief Financial Officer, Tech Mahindra, said,
“Our strong execution has ensured that we maintain our profitability margins while accelerating growth momentum. We remain committed on the operational excellence journey we have boarded, and continue to create value to shareholders through efficient capital return”
| Acquisitions |
| Tech Mahindra today announced the acquisition of Lodestone, a leading digital engineering quality assurance provider for new age digital companies. The acquisition will bolster Tech Mahindra’s digital engineering capabilities to effectively utilize data strategy and address machine learning challenges.
The strategic announcement will further enhance Tech Mahindra’s capability to provide end-to-end product quality assurance across hardware, software, and data layers to strengthen the company’s positioning as a leading digital transformation enabler in the engineering space. Vivek Agarwal, President – BFSI, HLS and Corporate Development, Tech Mahindra, said, The acquisition of Lodestone is in line with our strategy to strengthen digital capabilities and provide enhanced and comprehensive transformation services to our customers globally. This will bring significant synergies to complement our domain expertise and will help drive growth going forward. We welcome Lodestone’s associates into the Tech Mahindra family. |
| Key Wins |
- Tech Mahindra has won a multi-year strategic deal with a fortune 500 company in personal care for transforming its global applications and digitizing the core.
- Selected by an Asian technology company for multi pillar deal scope which includes managed services, IT stack refresh, adoption of new age architecture and business process re-engineering.
- Tech Mahindra has won a deal with one of the largest Electricity Distribution Utility Corporation in Asia for implementation and support of a large Customer Information System.
- Engaged by a telecommunications company based in Germany for consolidation and transformation of legacy systems.
- Awarded a deal by a global automotive OEM for engineering services for vehicle modification engineering FOT, data collection, data center, data management, simulation & ALM.
- Tech Mahindra has been chosen by a US telco to be a part of its transformation journey to provide modernization and cloud migration services for its targeted applications.
- Won a strategic deal with an Asian-based leading food management & policy maker, scope of which includes implementing, integrating and managing end to end SAP S/4HANA application, data management and data integration
- Won a deal with leading global ports & logistics operator headquartered in Middle East for implementation support and global application rollouts.
- Tech Mahindra has been engaged by one of the largest railroad companies in North America to provide mobility managed services.
- Tech Mahindra has been chosen by a fortune 4 organization in the Healthcare & retail space to design, build & transform Virtual Apps & Desktops platform in Cloud.
