Mastek Con Call Q2 Hightlights
- The middle east performed better than expected.
- Depreciation has impacted
- Margin improvement to start from Q4 onwards on the back of operating levers.
- Sold property and one-time acquisition cost.
- Evosys payment is given giving cash for 10% acquisition
- Acquired 20 clients. Out of the 20, 5 have revenue of more than $1 billion
- Borrowing of 388 cr towards MST acquisition
- MST growth- high single-digit QOQ
- Refocusing on top 40/45 accounts globally. Focus on account mining and increasing share of top 25/50 clients. Hence a number of clients addition will not be a key matrix for them in the future.
US
- NA seeing multiple health-create opportunities
- Account mining is taking longer than expected. Organic revenue is more or less constant in the US over the last 4/5 quarters.
- Previously, the oracle was giving us the pipeline. Now we are going directly to the customer.
- 24% of revenue. Aim to be one-third.
- Growth QoQ and YOY to be visible in H2.
- The number of fortune 1000 customer have increased 2.5 times in the last 12 months.
UK
- Continue to grow forward
MST
- Started on a positive start. I could not be happier
- $28/29 million when bought it. Expect high single-digit QOQ growth.
On the aspiration to be billion dollar company
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