Hinduja Global Solutions Limited — Interim / Quarterly Report 2021

Feb 9, 2021

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February 09, 2021

BSE Limited National Stock Exchange of India Ltd. Corporate Relation Dept. “Exchange Plaza” P.J. Towers, Dalal Street Bandra Kurla Complex, Bandra (E) Mumbai - 400001. Mumbai - 400051. Scrip Code: 532859 Symbol: HGS

Dear Sirs,

Sub: Unaudited Financial Results for the quarter and nine months ended December 31, 2021 – Financials & Fact Sheet

In continuation to our submission of standalone and consolidated financial results for the quarter and nine months ended December 31, 2020 with the Stock Exchanges on February 08, 2021, please find attached the Q3FY2021 & 9MFY2021 Financials & Fact Sheet.

This is also available on the Company’s website at www.teamhgs.com

Thanking you,

Yours faithfully, For Hinduja Global Solutions Limited

NAREN Digitally signed by NARENDRA DRA SINGH Date: SINGH 2021.02.09 14:55:50 +05'30' Narendra Singh Company Secretary

Encl : As above

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HGS Q3FY2021 & 9MFY2021 FINANCIALS AND FACT SHEET

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Hinduja Global Solutions Limited
Consolidated Quarterly Profit & Loss Account Unaudited
(Rs Million)
Particulars Q3FY20 Q2FY21 Q3FY21 QQ Growth YY Growth
Operating Revenues 12,648.0 13,325.9 14,568.0 9.3% 15.2%
Other Operating Income 0.0 0.0 0.0
Revenues From Operations 12,648.0 13,325.9 14,568.0 9.3% 15.2%
Employee Costs 8,515.6 8,999.7 10,053.4 11.7% 18.1%
Other Operating Expenses 2,197.2 2,454.8 2,452.0 -0.1% 11.6%
Total Operating Expenses 10,712.8 11,454.5 12,505.4 9.2% 16.7%
Op Profit/EBITDA 1,935.2 1,871.4 2,062.6 10.2% 6.6%
EBITDA Margin 15.3% 14.0% 14.2%
Depreciation & Amortisation 711.8 745.5 821.8 10.2% 15.5%
Interest & Finance Charges 243.1 223.9 217.4 -2.9% -10.6%
Other Income 182.4 150.2 81.7 -45.6% -55.2%
Exceptional Item 179.5 147.9 0.0
Profit Before Tax 983.2 904.3 1,105.1 22.2% 12.4%
Provision for Taxation 318.7 91.0 353.3 288.2% 10.9%
Profit from Discontd Operations 47.3 0.0 0.0
Net Profit/(Loss) 711.8 813.3 751.8 -7.6% 5.6%
Shares Outstanding (Mn) 20.87 20.87 20.87
Earnings/Share (Rs) 34.23 39.02 36.07
Dividend/Share (Rs) 2.50 6.00 6.00
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Hinduja Global Solutions Limited	Hinduja Global Solutions Limited	Hinduja Global Solutions Limited	Hinduja Global Solutions Limited
Conolidated Nine Months Profit & Loss Account	Unaudited
(Rs Million)
Particulars	9MFY2020	9MFY2021	YY Growth
OperatingRevenues	37,007.8	40,253.2	8.8%
Other OperatingIncome	0.0	0.0
Revenues From Operations	37,007.8	40,253.2	8.8%
Employee Costs	24,474.5	27,649.3	13.0%
Other OperatingExpenses	7,644.0	7,211.3	-5.7%
Total OperatingExpenses	32,118.5	34,860.6	8.5%
Op Profit/EBITDA	4,889.3	5,392.6	10.3%
EBITDA Margin	13.2%	13.4%
Depreciation & Amortisation	2,073.2	2,341.1	12.9%
Interest & Finance Charges	694.6	678.6	-2.3%
Other Income	397.1	539.4	35.8%
Exceptional Item	179.5	147.9
Profit Before Tax	2,339.2	2,764.4	18.2%
Provision for Taxation	890.0	707.0	-20.6%
Profit from Discontd Operations	73.2	-
Net Profit/(Loss)	1,522.5	2,057.4	35.1%
Shares Outstanding (Mn)	20.87	20.87
Earnings/Share(Rs)	77.04	98.60
Dividend/Share (Rs)	5.0	18.0

1 | HGS Confidential – www.teamhgs.com Driving Results. Consistently .

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Hinduja Global Solutions
Leverage Profile Unaudited
(Rs Million)
Particulars Q3FY20 Q4FY20 Q1FY21 Q2FY21 Q3FY21
Total Gross Bank Debt (Excl. Lease Liabilities) 5,546.0 6,042.2 5,776.8 5,453.8 4,943.7
Less: Cash and cash equivalents 5,222.3 5,308.2 6,405.7 6,078.0 5,411.1
Net Bank Debt/(Net Cash) 323.7 734.0 (628.8) (624.1) (467.4)
Networth 17,463.0 17,318.4 18,051.3 19,106.9 19,978.1
Net Bank Debt/TTM EBITDA 0.05 0.11 (0.09) (0.09) (0.07)
Gross Bank Debt/ TTM EBITDA 0.86 0.90 0.86 0.77 0.69
Net Bank Debt/Equity 0.02 0.04 (0.03) (0.03) (0.02)
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Hinduja Global Solutions
Summary Balance Sheet Unaudited
(Rs Million)
Particulars Q3FY20 Q2FY21 Q3FY21
Shareholders' Funds 17,462.8 19,106.9 19,978.1
Total Gross Bank Debt (Excl. Lease Liabilities) 5,546.0 5,453.8 4,943.7
Other Current & Non-Current Liabilities 15,551.1 17,684.7 18,131.8
Capital Employed 38,559.9 42,245.5 43,053.6
Fixed Assets & Intangibles 16,897.1 9,270.9 9,366.7
Other Non-Current Assets 3,499.9 9,938.7 9,746.3
Total Non-Current Assets 20,396.9 19,209.7 19,112.9
Sundry Debtors & Other Current Assets 12,940.7 16,957.9 18,529.6
Cash and cash equivalents 5,222.3 6,078.0 5,411.1
Total Current Assets 18,163.0 23,035.8 23,940.7
Capital Deployed 38,559.9 42,245.5 43,053.6
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Hinduja Global Solutions	Hinduja Global Solutions	Hinduja Global Solutions	Hinduja Global Solutions	Hinduja Global Solutions
Summary Cash Flow Statement	Unaudited
(Rs Million)
Particulars		9MFY20	1HFY21	9MFY21
Cash Flow From Ops. & After WC Changes		4,868.9	3,627.4	4,457.3
Cash Flow Due to Net Capital Expenditure		(799.5)	(575.8)	(1,166.8)
Cash Flow Due to Other InvestingActivities		(134.3)	(870.8)	(516.2)
Other Items		50.9	75.3	345.8
Cash Flow From Investing Activities		3,986.1	2,256.1	3,120.1
Proceeds/(Repayment)of Debt		(1,175.4)	(476.1)	(1,213.0)
Cash from Interest & Others		(764.8)	(1,014.3)	(1,559.7)
Dividends Paid		(188.7)	0.6	(250.0)
Proceeds From Share Issuance		10.6	3.6	5.5
Cash Flow From Financing Activities		(2,118.3)	(1,486.3)	(3,017.2)
Net Inc./(Dec)in Cash & Cash Equivalents		1,867.8	769.8	102.9
Cash and cash equivalents at BOP		3,354.6	5,308.2	5,308.2
Cash and cash equivalents at EOP		5,222.3	6,078.0	5,411.1

2 | HGS Confidential – www.teamhgs.com Driving Results. Consistently .

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REVENUE BY CURRENCY
Particulars Q3Y2020 Q4FY2020 Q1FY2021 Q2FY2021 Q3FY2021
Rs Million % terms Rs Million % terms Rs Million % terms Rs Million % terms Rs Million % terms
From USD 9,765.2 73.1% 9,954.4 75.5% 9,156.9 74.1% 9,784.0 73.4% 10,799.6 74.1%
From CAD 1,549.7 11.6% 1,499.8 11.4% 1,448.1 11.7% 1,572.0 11.8% 1,732.7 11.9%
From GBP 726.5 5.4% 746.8 5.7% 1,173.7 9.5% 1,382.4 10.4% 1,412.2 9.7%
From INR 1,316.1 9.9% 984.5 7.5% 580.1 4.7% 587.6 4.4% 623.5 4.3%
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited
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REVENUE BY DELIVERY CENTERS
Particulars Q3Y2020 Q4FY2020 Q1FY2021 Q2FY2021 Q3FY2021
Rs Million % terms Rs Million % terms Rs Million % terms Rs Million % terms Rs Million % terms
USA & Jamaica 4,679.5 35.0% 4,962.6 37.6% 4,735.7 38.3% 4,781.7 35.9% 5,461.4 37.5%
India (Domestic) 1,316.1 9.9% 984.5 7.5% 580.1 4.7% 587.6 4.4% 624.0 4.3%
India (International) 2,703.9 20.2% 2,702.5 20.5% 2,545.4 20.6% 2,785.7 20.9% 2,911.0 20.0%
India Operations * 4,020.0 30.1% 3,687.0 28.0% 3,125.5 25.3% 3,373.3 25.3% 3,535.0 24.3%
Philippines 2,305.2 17.3% 2,282.7 17.3% 2,100.6 17.0% 2,487.6 18.7% 2,716.9 18.6%
Canada 1,549.7 11.6% 1,499.8 11.4% 1,448.1 11.7% 1,572.0 11.8% 1,732.7 11.9%
UK/EU 726.5 5.4% 746.8 5.7% 937.6 7.6% 1,087.5 8.2% 1,110.6 7.6%
Middle East 76.7 0.6% 6.6 0.1% 11.3 0.1% 23.9 0.2% 11.5 0.1%
Note: Q1FY21, Q2FY21 and Q3FY21 numbers are unaudited. From Q2 to Q4FY20, does include revenues of India Domestic CRM which were sold on Jan-30th,2020
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			REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS	REVENUE BY VERTICALS
Particulars	Q3Y2020		Q4FY2020		Q1FY2021		Q2FY2021		Q3FY2021
	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms
Technology& Telecom	2,173.7	16.3%	1,943.1	14.7%	1,800.2	14.6%	1,898.6	14.2%	2,093.9	14.4%
Healthcare & Insurance	7,260.2	54.4%	7,600.7	57.6%	6,935.2	56.1%	7,394.7	55.5%	8,015.0	55.0%
Consumer & Retail	1,417.2	10.6%	1,345.2	10.2%	1,361.8	11.0%	1,408.9	10.6%	1,441.8	9.9%
Banking& Financials	1,258.4	9.4%	1,138.1	8.6%	1,038.6	8.4%	1,099.5	8.3%	1,119.2	7.7%
Media & Entertainmment	296.3	2.2%	298.6	2.3%	285.0	2.3%	346.8	2.6%	323.4	2.2%
Chemicals & Biotech	160.2	1.2%	177.9	1.3%	203.2	1.6%	215.7	1.6%	236.9	1.6%
Misc & Others	791.5	5.9%	681.8	5.2%	734.8	5.9%	961.8	7.2%	1,337.8	9.2%
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited

ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX	ONSHORE to OFFSHORE REVENUE MIX
Particulars	Q3Y2020		Q4FY2020		Q1FY2021		Q2FY2021		Q3FY2021
	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms
Onshore Revenues	7,156.8	53.6%	6,742.3	51.1%	6,142.4	49.7%	6,409.8	48.1%	6,919.8	47.5%
Offshore Revenues *	6,200.7	46.4%	6,443.2	48.9%	6,216.5	50.3%	6,916.2	51.9%	7,648.2	52.5%
Note: Q1FY21, Q2FY21 & Q3FY21 numbers are unaudited. Offshore includes Nearshore as well.

			CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION	CLIENT CONCENTRATION
Particulars	Q3Y2020		Q4FY2020		Q1FY2021		Q2FY2021		Q3FY2021
	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms	Rs Million	% terms
Revenue from TopCustomer	2,650.3	19.8%	2,686.8	20.4%	2,737.1	22.1%	2,976.3	22.3%	3,082.7	21.2%
Revenue from Top-5 Customers	6,681.5	50.0%	6,791.4	51.5%	6,373.3	51.6%	6,946.5	52.1%	7,820.7	53.7%
Revenue from Top-10 Customers	7,871.8	58.9%	7,950.5	60.3%	7,549.0	61.1%	8,312.5	62.4%	9,264.1	63.6%
Revenue from Top-20 Customers	9,307.7	69.7%	9,294.5	70.5%	8,963.3	72.5%	9,812.4	73.6%	10,957.0	75.2%
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited

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REGIONWISE EMPLOYEE/HEADCOUNT TRENDS
Particulars Q2Y2020 Q3FY2020 Q4FY2020 Q1FY2021 Q2FY2021
Numbers % terms Numbers % terms Numbers % terms Numbers % terms Numbers % terms
India 25,851 56.9% 18,106 48.3% 17,674 47.6% 17,809 45.0% 17,992 43.8%
Philippines 9,792 21.6% 9,351 25.0% 9,315 25.1% 9,871 24.9% 10,538 25.6%
US/Jamaica 6,315 13.9% 6,165 16.5% 5,872 15.8% 7,427 18.8% 7,511 18.3%
Canada 2,396 5.3% 2,760 7.4% 2,732 7.4% 2,914 7.4% 2,778 6.8%
UK/Europe 1,081 2.4% 1,078 2.9% 1,572 4.2% 1,557 3.9% 2,291 5.6%
Total Headcount 45,435 37,460 37,165 39,578 41,110
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited
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CAPEX to OPEX SEATS
Particulars Q3Y2020 Q4FY2020 Q1FY2021 Q2FY2021 Q3FY2021
Numbers % terms Numbers % terms Numbers % terms Numbers % terms Numbers % terms
Capex Seats 33,973 76.0% 21,738 61.7% 21,745 62.2% 20,958 60.9% 21,354 62.0%
Opex Seats 10,726 24.0% 13,479 38.3% 13,209 37.8% 13,448 39.1% 13,088 38.0%
Total Headcount 44,699 35,217 34,954 34,406 34,442
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited
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REVENUE RUN RATE (Numbers)	REVENUE RUN RATE (Numbers)	REVENUE RUN RATE (Numbers)	REVENUE RUN RATE (Numbers)	REVENUE RUN RATE (Numbers)	REVENUE RUN RATE (Numbers)
	Q3FY2020	Q4FY2020	Q1FY2021	Q2FY2021	Q3FY2021 14 24 24 44 80
Above Rs200mn/Quarter	11	9	9	9
Above Rs150mn/Quarter	12	14	14	15
Above Rs100mn/Quarter	23	19	21	23
Above Rs50mn/Quarter	40	44	40	37
Above Rs10mn/Quarter	96	88	80	83
Note: Q1FY2021, Q2FY2021 and Q3FY2021 numbers are unaudited

AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)	AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)	AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)	AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)	AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)	AVERAGE MONTHLY REVENUE PER EMPLOYEE(RUPEES)
	Q3FY2020	Q4FY2020	Q1FY2021	Q2FY2021	Q3FY2021
India Overall	52,874	55,918	58,236	63,383	65,838
Philippines	80,629	79,497	75,025	86,439	88,747
Jamaica	86,241	92,813	96,008	97,511	97,295
US Domestic *	353,401	384,293	388,432	352,231	364,293
UK/Europe	207,436	230,612	235,876	231,700	192,415
Canada	208,371	193,917	175,789	185,618	202,938
Overall	99,328	106,042	110,409	115,762	120,369
Note: All numbers are un audited. * - US includes US Domestic + Colibrium + AxisPoint + Elements

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