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KPIT Cummins Investor Presentation - March 2011


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KPIT Cummins Investor Presentation - March 2011

  1. 1. KPIT Cummins Infosystems Limited Investor Presentation March 2011 © 2005 KPIT Cummins Infosystems Limited We value our relationshipWe value our relationship
  2. 2. Safe Harbor StatementSome of the statements in this update that are not historical facts are forward-looking statements. These forward-looking statements include our financial andgrowth projections as well as statements concerning our plans, strategies, intentionsand beliefs concerning our business and the markets in which we operate. Thesestatements are based on information currently available to us, and we assume noobligation to update these statements as circumstances change. There are risks anduncertainties that could cause actual events to differ materially from these forward-looking statements. These risks include, but are not limited to, the level of marketdemand for our services, the highly- competitive market for the types of servicesthat we offer, market conditions that could cause our customers to reduce theirspending for our services, our ability to create, acquire and build new businesses andto grow our existing businesses, our ability to attract and retain qualified personnel,currency fluctuations and market conditions in India and elsewhere around the world,and other risks not specifically mentioned herein but those that are common toindustry. Page 2
  4. 4. About UsBACKGROUND MISSION STATEMENT To Be A Global Partner Of First Choice For Our Lineage from Kirtane & Pandit, Chartered Customers With Leadership In Select AreasAccountants (KPCA) a well respected accountancy firm To achieve this we will:in business for 50+ yrs Become partner of first choice and provide best value for all our customers. Incorporated in 1990, IPO in 1999, issue Become leaders in at least two focus areas and buildoversubscribed 42 times capabilities and services to move up the value chain. Create the right conditions to allow us to collaborate. CMMi 1.2 L3, ISO 9001:2000 certified Create the right conditions wherever we operate, to attract and retain professionals who are capable of supporting our Achieved first Mission of reaching $ 100 Mn in vision and mission.revenues in FY07. This was the mission set in FY02 Be known for social contributions to the communities wewhen KPIT was about $ 10 Mn in revenues operate in.BOARD MEMBERS (Independent)1. Padmabhushan Dr. R. A. Mashelkar2. Dr. Srikant Datar3. Padmashri Ms. Lila Poonawala4. Mr. Amit Kalyani5. Mr. Sudhir Tilloo6. Dinesh CastellinoMANAGEMENT TEAM Mr. S.B. (Ravi) Pandit – Chairman and Group CEO Mr. Kishor Patil – CEO and Managing Director NSE: KPIT; BSE: 532400 Page 4 Bloomberg: KPIT IN
  5. 5. StrategyFEW VERTICALS NURTURE RELATIONSHIPS Automotive & Transportation Identified Customer Universe Industrial & Farm Equipment Strong Customer Pyramid Hi-tech & Semiconductors Each with potential of Multi Million$ Energy and Utilities Partnership Approach Defense & Government FOCUSBUILDING EXPERTISE INORGANIC GROWTH Automotive Electronics and Embedded Domain Expertise Engineering Services Geographical Presence ERP / PLM Services Customer Acquisition Enterprise Software Support Partnership Approach Page 5
  6. 6. Global FootprintSUBSIDIARIESUS SDCUK PuneGermany BangaloreFrance ChennaiIndia Hyderabad Noida Munich BRANCHES 12% Japan Korea 20% Singapore South Africa 68% US Europe APAC Page 6
  7. 7. Strong Business Model Strategic Verticals Business Unit Automotive, Defense & Transportation & Energy & Utilities Government Manufacturing(ATM) AutomotiveCTO Engineering:27% Automotive& Transportation 2% 15% 6%CIO Integrated Enterprise Solutions: 38% Industrials & Farm Equipment 77%CFO SAP: 32% Hi Tech & Semiconductors Semiconductor ATM Energy & Utilities Solutions Group:3% Defense & Government Others ATM: Automotive, Transportation &Manufacturing Page 7
  8. 8. Practice Based Organization To bring in leadership in the verticals in which we operate, we have reorganized ourselves intoa Practice based organization with the intention of creating Best-in-Class Practices and thusleadership in those practices KPIT CUMMINS IES SAP Auto & Allied Engineering SBU SBU SBU - Oracle - Powertrain - AMS - SAP -Embedded S/w - PLM - Infotainment Implementation -SOC - SAP Support - BI - MEDS - Chip Design - BI and - MES - Hybrid and Analytics - ESS - Navigation Verification - eBiz - SCM - Vision - eBiz Systems With Practice Focus on innovation and leadership……………………. 6/16/2011 8
  9. 9. Our Offerings Space Advanced Technology Solutions Embedded Mechanical Product Hardware Electronics Design Development Design P End to End ERP CTO R IMC Dash O solutions DI Industrials and Farm UT Equipment C Automotive & AUTO Dash T IS PLM & MES Transportation ZE Hitech, ISVs & ER CIO Semiconductors CIO DV Sales, MIDAS Energy & Utilities SI Distribution & Defense & Government OC after-market LE services HITECH US Dash T I Analytics Help desk O N CFO Manager S Warranty F & A and Order Procure to Processing Compliance Management Pay Global Business Solutions Page 9
  10. 10. Emerging Leaders in our Focus Areas 50+ customer relationships Domain & Process expertise - 1500+ projects - Own IP in 13 models + 50 Microcontrollers - Influencing position - AUTOSAR, JASPAR, SPICE Level 5 - Largest no. of Offshore Development Centers LEADER Cummins experience : 50+ M global program 5 more marquee relationships Scale Work with 2 of the Top 3 Investment Banks in France Top 3 semi companies from Japan Niche Sub domains areas: Payment Top 7 companies in Auto systems, TAAS, Asset Management Top 2 ISVs in Enterprise Support Customer spread across all geographiesMoved from a horizontal centric model in early 2000 to a vertical centric model.Organization changes to suit the vertical focus : Customer Focused Practice Led Organization. Page 10
  11. 11. INDUSTRY OVERVIEW Page 11
  12. 12. State of Automotive Industry Pre 2007 2007-2009 2010 -• Steady high • Sudden slowdown • Fast Increase In growth in sales • Capacity Ramp Auto sales• Easy availability of Down • Rapid Capacity credit, growth of • Cash Conservation Expansion needed economy caused • Ability to invest • Large number of more sales Impaired product launches• Lots of new jobs • Standstill situation • Shift in Demand• Adhoc capacity • Layoffs and salary Centers utilization and cuts expansion• Standard Products Automotive Industry at Crossroads Page 12
  13. 13. Recent Automotive Trends….Stringent Regulations Frugal Engineering Increasing Fuel Costs, Cost pressures and high Governments across the volume demand globe pushing for increased Shorter Advance Engineering miles-per-gallon from the Phases to meet fast evolving vehicles market demands Recent push from Increasing Auto Electronics Governments on end of life of vehicles-Assessment EU directive on mandatory use Legislative Monitoring of LDWS (Lane departure New Market Players New Emission Regulations Warning System) for commercial vehicles from 2013 Shifting Economic Gravity Euro V, BS IV Emerging Consumer Tastes Increased demand for vehicle diagnostics Increasing software complexityInformed Consumer leading problems resulting in Richer Experience, Best of vehicle recalls Sophisticated Safety Systems Features Increased Demand for Safety Convergence of Consumer from buyers Industry User Cases Regulations to enforce driver Improved Mileage and and pedestrian protection Environmental Awareness Rapidly accelerating trends posing new challenges Page13
  14. 14. …Resulting into Challenges External Customer Stagnating demand and price pressure Legislation (environment, safety, in established markets others) Segmentation and polarization (low High Electronics content in the cost vs. premium) vehicles Decreasing loyalty Raw material and energy costs Changing product preference(trends Rapid Globalization towards smaller and efficient cars) Auto Industry Challenges Industry Competition Global overcapacity Quickly entering every segment Complex alliances, partnerships, M&As Moving targets—everyone optimizing Consolidating ecosystem (suppliers, or restructuring dealer groups) Global game (for example, aggressive Increased operational efficiency Asian companies, new entrants) Structural Changes Reshaping Automotive Industry Page 14
  15. 15. 15 Years of Serving Automotive Customers UPDT20JUL10 Legend 2011 Global Level Preferred SAP Partner . IT Services Collaborate with SAP on Product Development. Engineering Services Specialized consulting offering 2010 focused towards eSoA adoption 2009 1,000+ Consultant Strong SAP Practice 2008 Sparta merger Forte into niche modules/ Technologies:- CRM, 2006-07 Infotainment SRM, EHS, GRC,1995-96 2005-06 Platform BPC, Adobe forms, SAP-KPIT Joint GTM NetWeaver… (Indian Sub-Continent) Active contribution to CG Smith Auto Spice Certified solutionsInception of SAP Best Acquisition Level 5 SAP Preferred Partner for Component MfgSAP Practice Practices in LE Space development In India, US, RentalInception of Creation of vehicle mySAP All-In- Solution for US (SAP Labs Embedded Network OS One SAP–KPIT Joint COE developments) Practice product Partnership SAP Partner in US Autosar R 3.0 Revolo Hybrid product TVS Harita Acquisition Page15
  16. 16. KPIT Automotive –The Story in.. Numbers16+OEMs(6 of Top10)50 Tier I Vendors8 of Top 10 Semicon Companies3000+ Engineers1500+ Projects300+ Production Programs100+ SAP implementations And Counting….30 Patents Page16
  17. 17. Our Differentiator: Leadership in Automotive Domain Lock Lock Mirror Light Light Door Door Level Climate Fan Seat Chassis Compressor Wiper Wiper Brakes Damper GPS Infotainment BCM Gateway Blind Spot Cluster Powertrain Fuel Tank Switch Seat Transmission Roof Keyless Airbag TPMS Light Steering Immobilizer Door Door Level Mirror Lock LockCovers ALL SEGMENTS of the automobile LARGEST Auto Embedded Team in IndiaFrom CHIPS MFRs Tier I OEMs Leadership in POWERTRAIN & HYBRID S/W Page 17
  19. 19. The World we live in… GLOBAL Well-to-wheel carbon emissions from automobiles accounted for 8% of all carbon emission in 2008 Vehicle population predicted to grow from 730 million in 2008 to 1.3 billion in 2030 By 2030 the emissions would reach 4.7 Gigatonnes CO2 equivalent INDIA 18 % emissions due to automobiles amounting to 235 million tonnes CO2 equivalent in 2008 In 2008 Oil import bill for transportation was USD 33 billion 70 % dependency on imports for Oil needs Increasing automobiles on road: 100 million registered passenger vehicles in 2008 with 15% growth Page 19
  20. 20. Impact Of An Affordable Hybrid Solution By 2050, 2/3rd of all vehicles expected to be HEV/PHEV: Current bottleneck is a well-priced solution Page 20
  21. 21. Hence Potential Leadership Hybrid Solution A PLUG-IN PARALLEL HYBRID SOLUTION FROM IMPACT AUTOMOTIVE SOLUTIONS LTD6/16/2011 21
  22. 22. Setting New Standards Of Value In-built Intelligence Providing Engine Assist: the ‘how’ and the ‘when’ Driver Selection for kilometer range of assist Driving Pattern Recognition: on-going tuning to optimize performance and economy >30% Green House Gas Emission Reduction Enhancing Driving Experience No Additional Infrastructure requirements Can be retrofitted on existing vehicles in 4 to 6 hours. Solution Price Range: Rs.65,000 to Rs.150,000Performance Results 50% to 80% Efficiency Improvement 30% to 35% reduction in CO2 Emissions Page 22
  23. 23. System Schematic Control Motor Battery Pack Motor Algorithm Controller ENGINE Battery Mechanical Management mounting & System assemblyKPIT Cummins’IP component Sensor PowerOff the shelf Interface transmissioncomponent Module coupling Page 23
  24. 24. Revolo- Joint Venture with Bharat Forge JV to be formed on a 50:50 Equity Participation The proposed Equity is Rs. 100 Cr. - To be built over a period of time JV Board will have 3 Directors each from Bharat Forge and KPITMutual Roles Bharat Forge To leverage and make available its manufacturing, assembly and integration expertise and market access To provide appropriate government liaison KPIT Cummins To bring the technology to the table. KPIT shall license the technology to the JV for a fixed term To develop customized solutions for different automotive models, product engineering and technology roadmap Page 24
  25. 25. R&D (CREST) @ KPIT (34 patents filed till date) Research on Customer’s challenges, Develop advanced solutions Explore New Technologies and Design & develop Define new products Technology Roadmap CREST Create IP/ Capability Patents building Publish Research In papers Service Offerings Page 25
  26. 26. GROWTH HISTORY Page 26
  27. 27. The Journey (Growth) 240 224.07 220 Revenue CAGR (2003 to 2009) – 49% Profit CAGR (2003 to 2009) – 50% 200 180 174.10 FY10 only year of top line degrowth – Macro Factors 160 153.76 Volumes Flat in FY10 – shift from Onsite to Offshore 145.24 140 120 Growth in FY11 – 46% 102.52 100 80 72.93 56.57 60 40 27.72 15.91 20 10.52 5.75 7.45 8.60 0.02 0.15 0.22 0.59 1.19 2.06 2.94 3.72 0 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 20116/16/2011 Page 27
  28. 28. The Journey (Improved Metrics) 180 ACTIVE CUSTOMERS EARNING PER SHARE 155 160 14.00 141 11.78 140 128 12.00 10.97 120 111 10.00 8.44 100 90 8.00 6.83 6.67 80 60 6.00 40 4.00 20 2.00 0 FY07 FY08 FY09 FY10 FY11 0.00 FY07 FY08 FY09 FY10 FY11 OFFSHORE REVENUES FP REVENUES70% 35% 30% 31%60% 30%50% 25%40% 20% 18%30% 15% 12%20% 9%10% 10% 0% 5% FY07 FY08 FY09 FY10 FY11 FY07 FY08 FY09 FY10 FY116/16/2011 Page 28
  29. 29. KPIT Cummins – The Journey (M&A Progress) Year of Size at time of FY11 Name Rationale M&A M&A ($ Mn) ($ Mn) Anchor Customer – CumminsCummins Infotech 2002 $ 1.0 Mn $ 50 Mn Vertical Focus - Manufacturing SAP PracticePanex Consulting 2003 $ 7.2 Mn $ 20 Mn Anchor Customer BI 2005 $ 3.5 Mn $ 10 Mn Anchor Customer Direct Presence in FrancePivolis 2005 $ 1.5 Mn $ 5 Mn Geography Auto Electronics DomainCG Smith Software 2006 $ 6.25 Mn $ 28 Mn Auto OEM & Tier I CustomersHarita TVS 2008 $ 1.0 Mn $ 5 Mn MEDS Practice SAP PracticeSparta Consulting 2009 $ 25 Mn $ 45 Mn US Geography presence in SAP Vehicle Diagnostic &In2Soft 2010 $ 4 Mn - Telematics ExpertiseCPG 2010 $11 Mn - Oracle Consulting6/16/2011 29
  30. 30. Recent Awards and Associations Among BEST 5 companies Among BEST 20 leaders Among BEST 5 companies by Geography Focus: by Industry Focus: by Services Offered: AUTOMOTIVE Industry- Specific JAPAN - International Association of Outsourcing- International Association of Outsourcing - International Association of Outsourcing Professionals (IAOP), Apr ‘09 Professionals (IAOP), Apr ‘09 - Professionals (IAOP), Apr ‘09Mr. Anil Patwardhan, our CFO was honored with the ‘CFO of the Year in Information Technology Sector’ Award by the Institute of CharteredAccountants of India (ICAI) for exceptional performance and achievements as CFO in the Information Technology category for 2010.KPIT Cummins was aawarded the Economic Times Zigwheels, “Automotive Idea of the Year Award” for 2010, for its intelligent plug-in parallelhybrid solution, REVOLO.NASSCOM has awarded the “Promising Innovation of the Year, 2011” Award to KPIT Cummins for REVOLO.REVOLO was also awarded “Bes Electronic Product of the Year 2011” at Indian Semiconductor Association Technovation event.KPIT Cummins’ REVOLO won a special recognition award for exceptional leadership in catalyzing consumer adoption of sustainable solutions atthe India Carbon Outlook’s Parivartan Sustainability Leadership Awards.KPIT Cummins’ Hybrid Project Team has won an Award in the category of ‘Innovation’ in the Cummins CMD Awards 2009 . The award waspresented for introducing REVOLO, a smart and sustainable hybrid solution for Automobiles. Page 30
  31. 31. RECENT PERFORMANCE Page 31
  32. 32. FY11 PerformanceRevenues & Margins FY11 Balance Sheet Abstract - March 31, 2011In Rs. Million (uos) FY11 FY10 Y-o-Y In Rs. Million (uos) March 31, 2011 March 31, 2010Revenues 10,230.14 7,316.41 39.82% Shareholder’s Equity 6,031.91 3,871.01Revenues ( $ M ) 224.07 153.76 46.0% Total Debt 1,105.44 1,107.74EBITDA 1,522.08 1,614.43 (5.72%) Cash Balance( inc Investments) 2,572.51 1,799.27Net Profits 945.82 857.31 10.32%EPS (Rs.) 11.78 10.97 7.38% Fixed Assets 2,880.62 2,471.54 * Hedging Reserves stood at Rs.136.24 Mn as of March 31, 2011Operating Performance: FY2011 revenues crossed the Rs.10Bn milestone with a growth of 40% on Y-o-Y basis. Gross Profit grew by 12.55% Y-o-Y to Rs.3,630.80Mn, while Gross Profit Margin stands at 35.5% PAT grew by 10.3% Y-o-Y to Rs.945.82Mn, beating the higher end of upward guidance. 14 customers added in FY2011, taking the total no. of active customers to 155. Utilization onsite- 89.80%; Utilization offshore-68.48%. Fixed Price Revenue stood at 30.94% as compared to 30.2% in FY2010. Total headcount as on March’11 stands at 6,514, net addition of 1,596 employees during the year. Page 32
  33. 33. Q4FY11 PerformanceRevenues & Margins Q4 FY11 Balance Sheet Abstract - March 31, 2011In Rs. Million (uos) Q4FY11 Y-o-Y Q-o-Q In Rs. Million (uos) March 31, 2011 Dec 31, 2010Revenues 3,081.97 56.37% 12.59% Shareholder’s Equity 6,031.91 4,680.46Revenues ( $ M ) 67.92 59.18% 12.51% Total Debt 1,105.44 1,228.79EBITDA 433.09 12.11% 12.35% Cash Balance( inc Investments) 2,572.51 1,546.24Net Profits 263.31 26.68% 4.75%EPS (Rs.) 3.10 16.98% (2.21%) Fixed Assets 2,880.62 2,719.98Operating Performance: Revenue increased by 59.2% Y-o-Y in $ terms, while INR revenue grew by 12.6% Q-o-Q to Rs.3,081.97Mn. Gross Profit Margin improved by 102 bps to 35.45%, while Gross Profit grew by 28.31% Y-o-Y to Rs.1,092.66Mn Utilization onsite- 90.23%; Utilization offshore-69.88%. 3 new customers were added in Q4 FY2011, taking the total number of active customers to 155. 3 new patents was filed in the quarter, taking the total number of patents filed till date to 34. Total debt stood at Rs.1,105.44 (Term- Rs.280.80Mn, Working Capital- Rs.785.27 Mn) against 1,228.79Mn as on Dec 31, 2010. Forex Gain for the quarter stood at Rs.24Mn against Forex loss of Rs.67.6Mn in Q4 FY10. Page 33
  34. 34. FY2012 OUTLOOK Page 34
  35. 35. FY2012 Priorities & Outlook Profitable Growth Innovation- Focus on Non-Linear Revenues People DevelopmentFY 2012 USD Revenue to be in range of USD 275 Mn-285 Mn, growth of 23%-27% with INR PAT in the range of Rs.1,150 Mn- Rs.1,200 Mn, growth of 22%-27%. Page 35
  36. 36. VISION Page 36
  37. 37. Vision Auto Embedded, Semicon, SAP, Oracle, ESS, Best in Business IT ClassMore IP Led Revenues, PracticesPatent Focus Non Niche Vertical Linear Growth $ 500 M Focus Automotive, Transportation & Manufacturing, by end of Energy & Utilities, Defense & Government FY2013 Domain Expertise, Inorganic Presence Partnership Approach in Key Emerging Markets along Growth Geogs with US & Europe Page 37
  38. 38. Focus Segment- Automotive Increasing Auto Electronics Stringent Regulations Auto electronics to Frugal Engineering Govt. pushing for more comprise 40% of the Shorter Engg phases to fuel efficiency and strict total cost by 2015 meet fast evolving emission norms market demands Sophisticated Safety The World of Automotive New Market Players and Larger demand from end informed consumer consumer, Regulations Real time traffic updates for pedestrian & Driver Shifting demand centres safety Hybrid solutions, Integrated Environmental compliant solutions (IMDS, RoSH, RRR) Infotainment solutions on existing and emerging technologies (GENIVI) Autosar Solutions, proven solutions for OBD, solutions for body electronics, value engineering Internet enabled telematics development platform Antilock braking system for electric vehicle, efficient chassis ECU implementation, full vehicle crashanalysis simulation Focus on India, China and Korea markets to address the new demand centres Working with leading Auto OEMs and Auto Tier I vendors across the globe Page 38
  39. 39. Focus Segment- Manufacturing Less Capital Intensive IT Movement to Emerging Cloud Computing Reduced Time to Market economies like China, and cost effectiveness India, Latin America Consultative Approach The World of Efficient Manufacturing Manufacturing Growth in e-commerce, Process, Effective End m-commerce Product Templatized solutions for rapid and effective ERP implementation SaaS Model to potential customers with special focus on SMEs Dedicated sales structure in emerging markets to focus on large and strategic deals Expertise in Cloud Applications, enabling customers to move IT applications to cloud server End to End offerings from MES suite, up gradation and consolidation of existing MES Web based solutions for improving efficiency, proficiency in manufacturing analytics Practice building in Oracle, SAP, eBiz, SoA and Siebel and reorg to set up consulting practice bringing SCM,PLM, MES, BPM under one umbrella Page 39
  40. 40. Focus Segment- Energy & Utility Power Demand will move Smart Grid Management only in one direction Smart Meter Rollout Energy saving via smart which is North esp. in power management emerging markets The World of Energy In developed markets and Utility Customer Profiling, Tariff the need is for cleaner Plan Customization, energy e.g. Solar, wind Analytics The above trends call for a lot of electronics and analytics where KPIT has expertise and experience insolutioning. US Govt. has made $4.5 Bn. provisioning for smart grid projects. KPIT has forged strategic partnerships for developing real time solutions for utilities end customer. KPIT is offering creative and cost effective system integration services around SAP Utilities withproprietary tools and Intellectual property. Sachin Tikekar Page 40
  41. 41. Focus Segment- Defense Indigenization Obsolescence Revival of Strategic Reduce other country Upgradation of Battle Programs dependence Systems Inland Security The World of Defense Low intensity conflict Electronic Warfare Unmanned Vehicles Robotics, Simulators The above trends call for a lot of electronics and analytics where KPIT has expertise and experience insolutioning KPIT is seeking complementary partnership to go after sub systems business (radar, robotics, sensors,Launcher etc.) and systems business (Tanks, Aircraft, Submarine, Missiles etc.) KPIT Customers would be Defense Labs and End user organizations (Army, Navy, Air Force) KPIT Go to Market Plan is with a dedicated sales force, network of advisors and partnerships by leveragingthe existing competencies with defense labs Page 41
  42. 42. FINANCIALS Page 42
  43. 43. Q4FY11 Performance Growth GrowthIncome Statement (Rs. Mn) Q4 FY11 Q3 FY11 Q4 FY10 (Q-o-Q) (Y-o-Y)Revenue 3,081.97 2,737.45 12.59% 1,970.94 56.37%Gross Profit 1,092.66 942.61 15.92% 851.55 28.31%SG&A 659.57 557.13 18.39% 465.22 41.78%EBITDA 433.09 385.48 12.35% 386.32 12.11%Interest (2.41) 6.30 (138.17%) 4.33 (155.53%)Depreciation 162.10 85.02 90.66% 79.65 103.52%Other Income 32.49 8.20 296.19% (57.04) (156.95%)PAT 263.31 251.38 4.75% 207.86 26.68% Growth GrowthMargins Q4 FY11 Q3 FY11 Q4FY10 (Q-o-Q) (Y-o-Y)Gross Margin 35.45% 34.43% 1.02 43.20% (7.75)SG&A/ Revenue 21.40% 20.35% 1.04 23.60% (2.20)EBITDA Margin 14.05% 14.08% (0.03) 19.60% (5.55)PAT Margin 8.54% 9.18% (0.64) 10.55% (2.00) Page 43
  44. 44. Performance Metrics as on Q4 FY11 Q-o-Q Y-o-YCustomer Details Q4 FY11 Q3 FY11 Q4 FY10 Growth GrowthNo of Customers Added 3 5 - 2 -No of Active Customers 155 152 - 141 -Customer with run rate of>1Mn 40 40 - 32 -Top Client- Cummins 20.42% 24.07% (4.50%) 24.87% 28.40%Top 5 Clients 41.34% 41.88% 11.13% 43.50% 48.61%Top 10 Clients 51.19% 51.17% 12.63% 54.98% 45.59%Onsite/ Offshore SplitOnsite Revenues 46.08% 46.26% 12.15% 44.25% 62.86%Offshore Revenues 53.92% 53.74% 12.96% 55.75% 51.22%Revenues By Contract TypeTime & Material Basis 68.66% 68.39% 13.04% 69.63% 54.19%Fixed Price/ Time Basis 31.34% 31.61% 11.62% 30.37% 61.33%Total Headcount(at Qtr end) 6,514 6,229 - 4,918 - 44
  45. 45. FY2011 PerformanceIncome Statement (Rs. Mn) FY2011 FY2010 GrowthRevenue 10,230.14 7,316.41 39.82%Gross Profit 3,630.80 3,225.91 12.55%SG&A 2,108.73 1,611.48 30.86%EBITDA 1,522.08 1,614.43 (5.72%)Interest 13.02 27.41 (52.49%)Depreciation 411.25 308.04 33.51%Other Income 4.77 (252.53) (101.89%)PAT 945.82 857.31 10.32%Margins FY2011 FY2010 GrowthGross Margin 35.49% 44.09% (8.60)SG&A / Revenue 20.61% 22.03% (1.41)EBITDA Margin 14.88% 22.07% (7.19)PAT Margin 9.25% 11.72% (2.47) Page 45
  46. 46. Performance Metrics as on FY11Customer Details FY2011 FY2010 Y-o-Y GrowthNo of Customers Added 14 13 -No of Active Customers 155 141 -Customer with run rate of>1Mn 40 32 -Top Client- Cummins 22.79% 30.18% 5.56%Top 5 Clients 42.36% 49.98% 18.51%Top 10 Clients 52.06% 58.06% 25.35%Onsite/ Offshore SplitOnsite Revenues 43.68% 40.21% 51.87%Offshore Revenues 56.32% 59.79% 31.72%Revenues By Contract TypeTime & Material Basis 69.06% 69.77% 38.40%Fixed Price/ Time Basis 30.94% 30.23% 43.11%Total Headcount(at Qtr end) 6,514 4,918 - 46
  47. 47. Thank You• CONTACT DETAILS• Sunil Phansalkar•• Tel.: + 91 20 6652 5014• Mob: + 91 98509 66011• For any grievance, contact Page 47