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Mastek Ltd.http://www.mastek.com
Growth by Vendor Size (US $M)
IT Services, Products & Tech Services
-500
0
500
1000
1500
2000
2500
3000
3500
Tier 1 (AboveRs. 1000crore)
Tier 2 (250-1000 crores)
Tier 3 (100-250 crores)
Tier 4 (50-100crores)
SMEs (BelowRs. 50 crore)
MNCBackends
2001-02 2002-03 Growth
26%26%
-5%-5%
-4%-4% 19%19%
31%31%
4%4%
30%
While Tier 1 companies and MNC backends have registered good growth, SMEs have also registered 19% growth
Mastek
Profits
Margin at net level were under pressure as,
Gross Margins dropped by 1% to 45%*
S,G & A increased by 4% to 32%*
Profits grew by 21%
* Subject to audit
Revenue Vs. Profit
2537 2611
2926
3802
299
79
417 505
13%
14%
3%
12%
0
500
1000
1500
2000
2500
3000
3500
4000
2000 2001 2002 2003
0
2
4
6
8
10
12
14
16
Revenue Profit Net Margins (%)
Rs. Million
%
Operating Cashflows
528
322
523
463
0
100
200
300
400
500
600
2000 2001 2002 2003
Operating Cashflows
Rs.
Million
Highlights
Strategic outsourcing relationship with F 500 Software major
Preferred vendorship with system integrator in Telecom space
Large Virtual Sourcing Contract with existing Insurance major
Large Web based State Government project
Completion of Congestion Charging project
Initiation of three partnership
Maintenance Revenue
30%
25%23%22%23%
0
5
10
15
20
25
30
35
Jun '02 Sep '02 Dec '02 Mar '03 Jun '03
% share of Revenue
Financial Services
33%30%
33%
26%26%
0
5
10
15
20
25
30
35
Jun '02 Sep '02 Dec '02 Mar '03 Jun '03
% share of Revenue
Investments
Investments 98%
Increase in cash & cash equivalents
5%Others
(3%)
Total Operating Cashflows - Rs. 463 Million
Orders
Order from existing
customer
24%
Partnership
18%
Order Backlog
35%
Order from new
customer
23%
Guidance for 2004
Consolidated Revenue
Rs.460 crores
40% in First Half
60% in Second Half
Net Profit Rs. 35 crores Less than
20% in First Half
More than 80% in Second Half
Operations Overview
How will we make sales happen
How will we deliver predictably
Distribution of Organic Revenues for 2003-2004
All Figures in USD Million
Opening Backlog
New Business
in Existing Accounts
Revenue from New Accounts
Total Projected Revenue
Revenue (US$M)
35.1 23.3 22.6 81
Percentage
43% 29% 28% 100%
Increase in Mastek Sales Force during 2002-2003
Region As on 30th June 2002
As on 1st July 2003
US Sales 10 18
Account Managers 2 2
UK Sales 11 11
Account Managers 7 14
ROW Sales 12 13
Account Managers 1 2
Total Sales 32 42
Account Managers
11 18
Practice Line
E Elixir – Java based framework for Life Insurance
Channel Management solution – 8 sites across 5
countries
To be leveraged in the UK and US this year
Delivery Predictability
People
Process
Technology
Low Existing Resource Leverage
5 - 10 Yrs37%
3 - 5 Yrs21%
0 - 3 Yrs18%
10 + yrs24%
Recruitment cell from 7 to 18
Processes & Technology
CMM 5 Processes
ePMO
SAP
Masteknet
Proven ability to scale in projects like LCC
Approach to Strategic Partnerships
Leverage World class Delivery capabilities
Expand our reach to market
Strengthen our Value Proposition through partnership with companies having complimentary skills.
JV with Deloitte Consulting
Kicked off in October 2001
First Year Revenue of 5 M
Second Year Revenue of 15M
Current Head count 320 persons
F100 Marquee end - Customers
Alliance with Carreker Corp.
Carreker Corp is NASDAQ listed, $150M company specializing in payments infrastructure technology solutions and services to banks. 70 of top 100 US banks are their customers.
Two entities : Carretek LLC in US with 51% ownership by Carreker Corp and
49% ownership by Mastek – for Marketing activities Mastek Carreker Pvt. Ltd in India with 51% ownership by Mastek
and 49% by Carreker Corp. – for Execution activities
Offers IT as well as BPO services to Carreker’s banking customers
Has independent operating team headed by CEO. Would leverage client relationships and sales force of Carreker and delivery capabilities of Mastek
Partnerships with 2 other IT services companies
Each has Revenue base of $ 400 M plus in IT services
Sales force of 50 plus persons and 20 plus sales offices in US
These companies see interest in offshore amongst their customer base.
Created joint teams to work together
Thank YouThank You
Copyright 2003 Mastek (All rights reserved)
No part of this presentation may be reproduced or transmitted in any form or for any purpose without the express written permission of MASTEK
MASTEK, Majesco Logo are trademarks or registered trademarks of MASTEK in US and in several other countries all over the world