Mphasis Limited — Call Transcript 2022

Aug 1, 2022

DocuSign Envelope ID: FB74BB47-B3A4-4AB6-BF61-2A8BDF0BA147

1 August 2022

The Manager, Listing The Manager, Listing BSE Limited National Stock Exchange of India Ltd Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. c/1, Dalal Street, G-Block, Bandra-Kurla Complex, Mumbai – 400 001 Mumbai – 400 051

Dear Sir/Madam,

Sub: Transcript of the 31[st] Annual General Meeting

Please find enclosed the transcript of the 31[st] Annual General Meeting of the Company held on 21 July 2022 which is hosted on the website of the Company at https://www.mphasis.com/home/corporate/investors.html.

We request you to kindly take the above on record.

Thanking you,

Yours faithfully,

For Mphasis Limited Subramanian Narayan Senior Vice President and Company Secretary

Encl: As above

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DocuSign Envelope ID: FB74BB47-B3A4-4AB6-BF61-2A8BDF0BA147

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“Mphasis Limited 31[st] Annual General Meeting”

July 21[st] , 2022

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MANAGEMENT: – MR. DAVINDER SINGH BRAR CHAIRMAN OF THE BOARD AND

CHAIRMAN OF THE STAKEHOLDERS RELATIONSHIP COMMITTEE – MR. NITIN RAKESH CHIEF EXECUTIVE OFFICER AND MANAGING DIRECTOR

– MR. NARAYANAN KUMAR CHAIRMAN OF THE AUDIT COMMITTEE

– MS. JAN KATHLEEN HIER CHAIRPERSON OF THE NOMINATION AND REMUNERATION COMMITTEE

– MS. MAUREEN ANNE ERASMUS DIRECTOR

– MS. COURTNEY DELLA CAVA DIRECTOR

– MR. DAVID LAWRENCE JOHNSON DIRECTOR

– MR. MARSHALL LUX DIRECTOR

– MR. AMIT DIXIT DIRECTOR

– MR. PANKAJ SOOD DIRECTOR

– MR. KABIR MATHUR DIRECTOR

MR. ERIC WINSTON-EVP, GENERAL COUNSEL, AND CHIEF ETHICS AND COMPLIANCE OFFICER

MR. MANISH DUGAR-CHIEF FINANCIAL OFFICER MR. BADRI NARAYAN-SVP AND HEAD - CONTROLLERSHIP – MR. SUBRAMANIAN NARAYAN SVP AND COMPANY SECRETARY

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Mphasis Limited July 21, 2022

Moderator:

Good morning. Ladies and gentlemen, we will now commence the 31[st] Annual General Meeting of Mphasis Limited over video conferencing. For smooth conduct of the meeting, all the lines of shareholders are muted. The audio and video of the speaker shareholders will be enabled once they are invited to speak at the AGM by the Chairman. The proceedings of the AGM are being recorded and will be hosted on the website of the company after the AGM. Without any delay, I handover this meeting to Mr. Davinder Singh Brar Chairman of the Board of Directors, Mphasis Limited for conducting the AGM proceedings over to you sir.

Mr. Davinder Singh Brar: Good morning, ladies, and gentlemen, I welcome you all to the 31[st] Annual General Meeting of the company being conducted virtually. It is now 9 a.m. and the quorum has been checked and is found to be in order and we will commence the proceedings. With your permission, I would like to take the Notice convening this Annual General Meeting as read. The members may please be informed that the statutory registers, that is Register of Directors and Key Managerial Personnel and their shareholding, Register of Contracts or Arrangements in which directors are interested. Register of Proxy, Statutory Auditor’s Report and Secretarial Audit Reports and certificates as required under SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 which are required to be placed at the AGM are available action at the NSDL website under the tab AGM documents.

I would now like to introduce the directors present virtually for the meeting. Today, we have Mr. Nitin Rakesh, Chief Executive Officer and Managing Director Mr. Narayanan Kumar, Chairman of the Audit Committee, Ms. Jan Kathleen Hier – Chairperson of the Nomination and Remuneration Committee, Ms. Maureen Anne Erasmus, Ms. Courtney della Cava, Mr. David Lawrence Johnson, Mr. Marshall Lux, Mr. Amit Dixit, Mr. Pankaj Sood and Mr. Kabir Mathur present at this meeting. Mr. Amit Dalmia is not able to attend the meeting due to another engagement. I am Davinder Singh Brar, Chairman of the Board and the Stakeholders Relationship Committee.

I record that the authorized representatives of the Statutory Auditors, Secretarial Auditor and the Scrutinizer are also virtually present in this meeting. I further record that all feasible planning and execution has been done for enabling electronic participation and voting by the members for this AGM. It is confirmed that electronic voting is available throughout the AGM. I would now like to share with you the performance highlights of the company for the financial year 2022 and the important developments.

Once again, Good morning, ladies, and gentlemen, it gives me great pleasure to welcome you all to the Thirty First Annual General Meeting of your Company.

Thank you for joining us virtually today. I would like to take this opportunity to express my gratitude for your continued trust and support towards the success of the Company.

2022 marks the third year of navigating the pandemic, with organizations all over the world successfully transitioning to the post-pandemic world. Companies around the world have

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Mphasis Limited July 21, 2022

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reimagined their businesses and are on a steady path of recovery, while reinventing their core businesses with the use of technology. Organizations have successfully adapted to newer operating models to reflect changing customer expectations, offering stability to clients and enhancing collaboration and innovation within companies all of which points to a brighter future of work.

As digital technology evolves, enterprises are generating ideas for using it in new ways to accelerate their growth. Technologies such as cloud, blockchain, cybersecurity and AI continue to provide the scalability, security and data sharing capabilities needed to successfully operate across systems and channels. Your Company’s performance in the last fiscal year showcased the capabilities and resources we harness to cater to the needs of our clients and offer them unique opportunities to partner with us. This year has been no different with digital technology creating exciting opportunities for us to uncap innovation and boost operational efficiency for our clients.

Our key priority is to understand our client needs and provide them with technology-powered solutions with the goal to drive innovation for transformative business growth. We are at the forefront of Design, Architecture and Engineering; solving complex problems faced by our clients. This aligns well with our “Engineering is in our DNA” approach, to help organizations unlock their new digital future. We are dedicated to continuously building our capabilities and domain expertise to drive digital transformation and our reputation as a ‘customer first’ organization.

From the onset of the COVID-19 crisis, our industry has witnessed multiple disruptions creating opportunities to learn, adapt and redefine our purpose. We believe our purpose is “To be the Driver in the Driverless car” for our clients by delivering scalable and sustainable software and technology solutions to global enterprises through our Next Gen Design, Architecture and Engineering services. Furthermore, we are confident to grow and accelerate as a Hi-Tech, HiTouch, Hi-Trust organization which nurtures and empowers our people with these propositions.

Mphasis is a digital-first company embracing new technologies to build future-ready business for its clients. We are well-positioned to help organizations scale up to the next level in their cloud journey by leveraging next-generation application development techniques, using a Hybrid Multi-Cloud approach. In this context, Mphasis has launched a focused cloud ecosystem channel organization, to provide clients globally with personalized and specialized solutions for accelerating enterprise-wide cloud-enabled transformations. This will enable our clients to leverage cloud to expand rapidly in international markets, launch new products faster, deliver hyper-personal experiences and improve service delivery through efficient business operations.

Now, I would like to highlight the progress we have made in FY22.

Your Company has achieved significant improvement in financial performance which is reflected in our annual growth numbers. In FY22, the Company’s consolidated gross revenue grew 22.4% on a reported basis and 21.2% in constant currency. The Earnings Per Share (EPS)

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Mphasis Limited July 21, 2022

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of the Company, a key growth indicator grew by 17.2% to Rs.76.4. The Direct revenue grew 34.4% in constant currency to $1.46 billion. Additionally, we won new deals of Total Contract Value $1.43 billion in FY22 in Direct business.

A few key strategic initiatives Include:

1. Mphasis and The Ardonagh Group, the UK’s largest independent insurance intermediary, signed a Business Venture Agreement called Mrald Limited to set up a shared services entity to service middle and back-office functions, while applying digital transformation. This also opensup opportunities for the business venture to attract and service other clients in this space.

2. Mphasis acquired Blink UX, a User Experience research, strategy, and design firm that works with some of the world’s leading enterprises to create transformative digital products, brands, and experiences. Acquisition of Blink remains consistent with our Merger & Acquisition (M&A) focus and is at the forefront of providing well-researched design and high-impact digital experiences to our clients and their end customers. The acquisition has boosted the Company’s competencies with end-to-end capabilities across a spectrum of clients and industries.

3. As part of the cloud ecosystem channel investment, Mphasis is further deepening its partnerships with all major cloud providers–- AWS, Microsoft Azure, and Google Cloud Platform, and through additional partnerships with select cloud capability ecosystem partners such as VM Ware, Salesforce, ServiceNow, Snowflake and others. The channel focused team will accelerate joint go to market motions through industry-specific solutions, harnessing the power of each platform, with a dedicated Center of Excellence (COE), industry cloud collaborations and advanced specializations.

Mphasis has also been awarded a US patent for its Artificial Intelligence (AI) driven application and infrastructure management solution. The US patent focuses on AI systems for tracking, managing, and analyzing data from unstructured data sources.

These initiatives and more that are in progress, signal concerted strategic moves by the Company to invest, participate and grow in next-generation technologies and services with a focus on client centricity.

In Corporate Social Responsibility (CSR), your Company's charitable and social development efforts are overseen by the CSR Committee of the Board, which authorizes the CSR budget and monitors its implementation in accordance with the Company's CSR policy. Your Company's CSR spending has been oriented toward achieving long-term societal benefit, as detailed in the Annual Report of the Company.

Mphasis F1 Foundation, a philanthropic arm of the Company has worked to promote equity, inclusion and empowerment of the under-represented and under-served communities much before the CSR law came into action. In line with Mphasis focus on experimentation, Mphasis F1 Foundation has evaluated and supported pioneering initiatives with potential for large impact.

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Mphasis Limited July 21, 2022

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During FY22, Mphasis F1 Foundation has continued to support innovative programs in the areas of education, livelihood, and inclusion through non-profit and social enterprises.

The/Nudge Institute, supported by Mphasis and inaugurated by Karnataka's Hon'ble Chief Minister, envisions a poverty-free India in our lifetime. Mphasis, has been onboarded as a Founder and Patron of this “action development institute” to support its powerful vision through incubation, and acceleration of best not for profit startups in the country. Through another such program with The/Nudge Institute, Mphasis trained over 1,300 college girls from financially stressed backgrounds with vocational skills, enabling 100% placement for those opting in.

Mphasis continues to deepen its engagement with Indian higher educational institutes to enable eight applied research projects of social relevance and through extending scholarship support of Rs.50 lakhs to students from economically disadvantaged backgrounds. Your Company supported youth changemakers through Ashoka’s “Everyone a Changemaker” effort, to institutionalize and grow their community initiatives for significant impact within their communities. Five of these “Young Changemakers” won the Diana Award for their humanitarian work of improving the lives of others and two were recognized for George H.W. Bush Points of Light Inspiration Honour Roll. The Company continued to support in the education and improvement of learning outcomes of 1,500 Akanksha schoolchildren this year.

The Company's CSR strategy focuses on bringing about societal change through technology and disruptive ideas. As a socially responsible organization, Mphasis F1 Foundation has also contributed to relief activities during the second wave of the pandemic. I am also pleased to share that two of your Company’s CSR programs in partnership with Social Alpha and Uber Technologies are recognized as awardees for the Zero Project 2022, hosted at the United Nations Office in Vienna for removing barriers and improving accessibility for all persons with disabilities.

As a committed corporate citizen, we kickstarted our formal ESG journey. Our ESG mission focusses on reducing company-wide environmental footprint, building sustainable supply chains and a diverse professional culture with transparent and ethical governance, all converging towards “tech for good.” We are committed to demonstrating what it means to be an industry leader in setting exceptional standards, driven by a purpose-led approach to overcome challenges. We participated in the S&P Global ‘s Dow Jones Sustainability Index (DJSI) through its Corporate Sustainability Assessment (CSA) Annual Review 2021 process and scored 47/100, which is above the industry average of 34.

You will be happy to know that the Board of Directors have recommended a final dividend of Rs. 46 per equity share, for the financial year ended 31st March 2022, subject to your approval at this meeting.

In the years ahead, I am positive that Mphasis will continue to scale, transform, and stay ahead of technology advancements as an ‘Applied Tech Company.’ I believe we are in a competitive

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Mphasis Limited July 21, 2022

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position, enabling cutting-edge innovation, higher resilience, and long-term growth. We are focused on our path forward and committed to enhancing shareholder returns.

I again wish to thank our shareholders for their continued trust and association with the Company, and I also want to thank our customers for their support and confidence. Mphasis is a company with a strong heritage that lays the foundation for our future success.

I wish all of you the very best as we carry out our individual responsibilities in building future success together. Thank you very much.

I now request Mr. Subramanian Narayan, Company Secretary to read the Auditor’s report and brief the members on the voting process to be followed at the meeting.

Mr. Subramanian Narayan: There are no qualifications, observations, or comments in the auditor’s report which are required to be read at the meeting. With the permission of the members present, I take the auditor’s report as read. As per law the company has provided electronic voting facility by means of remote e- voting as AGM is held virtually, the option for physical voting at the AGM is not provided this time. However, the Company has enabled e-voting facility during the AGM for the members who have not voted through remote e-voting and are present at the AGM and are otherwise not far from doing so. The icon for e-voting is available on the top of the screen under the e-voting tab which will redirect the members to the e-voting platform of the NSDL. The e-voting facility would close after 15 minutes from the conclusion of this AGM. There will be no proposing and seconding of the resolutions as the meeting is held virtually. The shareholders who have registered themselves as speakers will be allowed to speak at the meeting and such registered speaker shareholders may participate in the discussion on the items of business once the discussion is invited by the Chairman. The queries shall be answered after all allowed speaker shareholders have raised their questions.

I now request the Chairman to resume the proceedings. Thank you.

Mr. Davinder Singh Brar: We will now take up the resolutions 1 to 8 as set forth in the notice. We will open the lines for questions from the shareholder after all the resolutions are taken at the meeting.

Item No.1 is to receive, consider and adopt the audited financial statements for the financial year ended 31 March[2022]

Item No. 2 is to approve declaration of final dividend on the equity shares.

Item No. 3 is to re-elect Mr. Amit Dalmia, as a director who retires by rotation and seeks reappointment.

Item No. 4 is to re-elect Mr. David Lawrence Johnson, as a director who retires by rotation and seeks re-appointment.

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Item No.5 is in relation to appointment of Mr. Kabir Mathur, as Director of the Company who holds office till the date of this AGM.

Item No. 6 is in relation to appointment of Mr. Pankaj Sood, as a Director of the Company, who holds office till the date of this AGM.

Item No.7 is in relation to appointment of Ms. Courtney della Cava, as a Director of the Company, who hold office till the date of this AGM.

Item No.8 relates to appointment of Ms. Maureen Anne Erasmus, as an Independent Director of the Company by means of a special resolution.

The text of the ordinary and the special resolutions along with the explanatory statement are provided in the notice circulated to the members. May I request, the members to treat the resolution as read. I now invite the speaker shareholders to raise questions, they may have on the items of business of the meeting. I request the members to confine their queries strictly to the items of business of the meeting. I request the moderator of the meeting to enable the speaker shareholders in the order of their registration, in the interest of time, I would request the speaker shareholders to restrict their questions all views to a maximum of 3 minutes each. I now handover the proceeding to the moderator to allow the speaker shareholders to raise their queries.

Moderator:

Thank you so much. We will now begin the question-and-answer session. Request you all to please be connected while we bring the speaker shareholders online. We invite the first speaker shareholder Mr. Santosh Kumar Saraf. Please go ahead.

Mr. Santosh Kumar Saraf: Namaskar Sriman Davinderji, and all my brothers and sisters who are present in this video

conference, I Santosh Kumar Saraf, from Kolkata wish you all a Namaskar. Hoping all the Directors and officers of the Company are healthy and safe. Sir, I wish to thank the management for giving such a good dividend and for providing quite a good numbers and performance. Although, we have not fully come out of the COVID, but still we have done a good performance. Sir, I have sent a letter earlier, perhaps it could be on your table or may be the secretary must have given it to you. I have asked sir, what is your future plans, have you done any acquisitions or will there be any plans for acquisitions in the future, please tell us about it. And sir, regarding the e-wastage, which is generated, do we have any policy to dispose it, I had asked sir. I have also asked regarding the gender gap between the male and female employees and what measures have you taken to reduce this. I also understand at this in time in India to provide empowerment for women is necessary and also the next President is going to be a woman. Women have displayed promising performance. Each female minister have done a good job, Women have won gold medals in sports and have even conquered the Everest. Sir, even if you see in examinations, they are coming on top. It is not that they cannot work in factory. Now the labor minister has also allowed women to work in factories and please provide opportunities for them to work. And also, regarding the disabled employees, I have not seen because I did not get the business responsibility input. So, I have a request sir, next time when you send the Balance

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Mphasis Limited July 21, 2022

Sheet, please attach the Business Responsibility Report. I checked the website for quite some time but was unsuccessful in opening it, so next time send it along with the Balance Sheet, the Business Responsibility Report. These days you send through email so there will not be a problem for you to send it along. Sir, now a days, the talks are about single use plastics so have we taken any measures to end single use plastics to our factory people wherever concern and what instruction have you provided please tell us about it, sir. Regarding rainwater harvesting and renewable energy resources use what steps have we taken and, in the budget too what has been talked about rainwater harvesting capacity and also about the capacity regarding renewable resources, tell us in this regard also, sir. Sir, no matter how many employees we have, please provide health insurance, accident insurance, maternity benefit, paternity benefit if available then it is very good and if not, then please start it as it would be good to have one and also start a daycare it would be good for children. Sir, I will not take long, I am also impacted from COVID to this date and I wish you provide booster dose to all our employees and their families or conduct a camp after talks with government officials and provide booster doses to all who have not taken. Another thing sir, I like the idea of video conference meeting, look sir, I am talking to you from Kolkata and I see Mr. Rakeshji’s face also, Davinderji’s face also is seen, otherwise if it had been a physical meeting, I would not have seen your presence and you would not have even thought, whether if you have a shareholder like Santosh Kumar Saraf who could be your wellwisher. I wish in the future, if you are conducting a physical meeting, then I do not have any objection. Keep 15-20 minutes for speaker shareholders in a hybrid portion so that the out of State shareholders can also speak up their mind and if we are successful in hybrid then having a dual mechanism would be ideal. Calling a physical meeting with the people within the City may not be perceived well. And I will not take any long, in 2019, when you conducted a physical meeting what was the expenses incurred and now for the past two years you are conducting VC meeting and what the expenses in this regard, please tell us about it. And last sir, I pray that you and your family members have long life and also pray for all our directors, employees and shareholders and their families. I pray to God that 2022-2023 would be healthy and prosperous for all of us. Jai Hind, Jai Bharat. Namaskar.

Moderator:

Thank you. We now invite the next speaker shareholder Ashok Chakravarthy. Please go ahead.

Mr. Ashok Chakravarthy: Sir, my name is Ashok Chakravarthy and I wish a very good morning to the board and to all my co-shareholders, sir. Sir, first of all, I wish to inform my happiness and thank you the management for sending the physical annual report to us and I am very happy because in the physical report especially for senior citizens who can read it in the physical book instead of, what you call it, software, sir. I am very happy and thank you once again sir and in the small issue it is not a very big issue but again, I small refer the page number 74, just I wish to know why the recruitment expenses have gone up so much sir, because there may not be I do not know whether very high recruitment is taking place or why so much of difference is taking place in expenditure is concerned, sir. As far as page No. 32 is concerned the Board and everyone knows the other equity is ₹67,000 million is available so when so much of other equity is available and equity capital is very very small amount, around ₹1500 something. So, the question is when the Company is is holding so much of other equity, I request you to consider a bonus issue, I think

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Mphasis Limited July 21, 2022

it has not taken place for a very long period or may not be taken place. Because of this other equity, and the holdings in reserves, please consider bonus issue, it will really help shareholders very much sir and will improve the goodwill also sir. The next point sir, if the management, because of any obvious reasons could not consider bonus, at least what I request you is, consider split of the shares; sir, because most of all the big companies whatever name you want to take it, all of their face value is ₹1 or ₹.2, especially software companies and all the companies. So now our value is higher amount so why do not you, at least if you cannot consider bonus, at least consider split of the shares, so what happens is it will increase the liquidity in the market it also enables us or the company to reach again its all-time high figure market price, sir and, I am very happy for the way the share market price has gone up but again the management knows, everyone knows that it has come down slightly. So because of either bonus or split of the shares, I hope the market will recognize us and again the share market price could reach its high peak price sir. One thing, just now my other co-shareholder has informed about the physical meets and video meetings but what I just to wished to inform is that we have missed what you call it, we could not have the hospitality, special hospitality being shown by the company at the physical meet sir and because of this video meets, what you call it, whatever the special hospitality, you were showing at the physical meets, we could not enjoy it, sir. So, what I could request the management at least why do not you consider some hospitality to speaker shareholders sir, whatever the manner if you can make us be happy, I will be thankful to you sir and I hope all the best and I propose all the resolutions, sir. Thank you very much sir.

Moderator:

Thank you. We now invite the next speaker shareholder S. Saravanan. Please go ahead.

Mr. S. Saravanan:

Good morning, Mr. Singh, Nitin, and the Board of Directors. Nitin, we feel very happy, you are always young and energetic, what is the secret behind it, we do not understand, okay! Thanks to the management for presenting such a wonderful Balance Sheet. We are always awarded as a shareholder by the management by giving a very liberal dividend type. Need to thank. A Special thanks to Padmaja, who really coordinates with the shareholders a lot . Ok. She is a very good employee actually, and also nevertheless we need to thank the backbone of the Company, the employees who stood in this crisis working from home. Work at home is very very toughest thing, we always see, even in our houses how they work, thanks to it, and only thing, I would like to say to the Company is wishing all the best and all supporting to the Company because there is nothing to say about the balance sheet it is highly weighted thanks to all the Board and employees who worked for us day and night. Thanking you, thanks and prayer, bye-bye.

Moderator:

Thank you. This was the last speaker shareholder. As there are no further questions, I hand it over back to the management.

Mr. Davinder Singh Brar: Let me respond to some of the questions which have been raised by the shareholders. First of all, thank you, for your enquiries regarding safety of our employees and the management. Our directors and employees are safe, fortunately, we do not have any employee who died on account of COVID-19 during the year and thank you for your appreciation of the company’s result and for the good work that the management has done.

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Mphasis Limited July 21, 2022

Coming to the questions raised by Mr. Saraf regarding acquisition, the company has and identified merger and acquisition strategy which outlines the capability gaps or technologies that the company either can grow inhouse or can acquire. Based on that a strategy, we diligently pursue candidates that can be acquired and you have seen that the acquisition of Blink UX is in line with that experiential technology that will bring to the digital space for our clients. So, we will continue to explore and acquire as per the needs of the company.

Regarding e-wastage, the company’s e-wastage comprises of computers, laptops, printers, and telephones. They are stored in an environmental damage free storage facility for a maximum of 180 days and then handed over to vendors who are registered under the Pollution Control Board for Disposal. The annual e-waste returns with respective State Pollution Control Boards are filed by the company.

On women empowerment, the company is an equal opportunity employer and at the same time is committed to have a balance gender ratio. At the company level as on just to give you some statistics as on 31[st] March, 2022, we had 33,000 employees out of which about 36% are women. In quarter one of this year, which is FY23, we have hired over 5,000 employees maintaining the ratio of women employees in this new hires also at 36%. We are amongst the top 100 best private sector companies for women to work in the country. And also, just as a point, we have improved the gender ratio in the board itself with now three lady directors on the board that is from the erstwhile one lady director on the board. So, we are very conscious of this issue and we will continue to reduce the gender gap in our recruitment and other functions. Besides, we also promote many genders inclusive environment in the company programs. We have women mentoring program, where the leadership at Mphasis provides one-on-one mentoring. Alumni club for second career opportunities and for women to participate in our recruitment campaigns and integrated circuit program, where women in leadership roles share their journey and motivate the employees. Regarding your comment about carrying the business responsibilities report, in the annual report we note this and we will look into it next year.

Single use plastic, we have a campaign in the company let us say “no to plastic” with the objective to ban single use of plastic and as a part of that we replaced all the plastic bottle usage with glass bottles.

Regarding rain harvesting the point that you raised, all our buildings are leased building where we function. So, this issue of rain harvesting is done by the owners of the buildings but just to add to this 54% of our total energy consumption, PAN India is today coming from green energy resources that is hydel, wind and solar energy. You also mentioned about employee benefits regarding health insurance, accident insurance, maternity benefits, paternity benefits, and other such facilities.

Just to update all employees in India are covered in medical insurance, accident insurance. All women employees are eligible for maternity benefits as per the Indian Maternity Benefit Act.

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Mphasis Limited July 21, 2022

paid Paternity leave of 5 days is granted to our male employees, and the company ensures that the day care facilities provided are accessible to the employees as required under the law.

You asked about the expenses of physical meeting and the one which is been conducted virtually. The last physical meeting of AGM of 2019, cost the company Rs. 15.3 lakhs and the expenses incurred in the current year is Rs. 9 lakhs.

You also mentioned about the booster dose for the employees, well we are creating awareness for this within our employee community and I hope they will get the booster. As of now it is mandated even for foreign travel; the booster dose is mandated in some countries, I think.

I have answered all the questions raised by Mr. Saravanan. Mr. Ashok Chakravarthy your question regarding recruitment expenses, they have gone up, but this has to be seen and in the context of the headcount increase in the company which was about 6,400 people last year. So that is a, and many of them were recruited for onsite clients, big clients of ours. So yes, recruitment expenses are up, but it has to be seen in the relation to growth of the attritional rate in the industry which is high and replacements thereof and also for the big pipeline that the company has built up for which these resources are needed. They will remain up for a while that is all, I can say.

Regarding bonus issue, I think we have done three in the past and in an appropriate time the Board will consider based on the needs of the company and also our policy to reward our shareholders consistently. I think all questions that have been answered, I do not have any more question that is pending but if there is any clarification that the shareholders need, please do write to our secretarial department, and they will respond to you forthwith.

I believe that we have now answered all the shareholders queries and as I said, you can write to the Secretarial Department or to 31.agm@mphasis.com and the management will have it responded.

This concludes the business of the day and I take this opportunity to thank all the shareholders present, and for their kind attention, cooperation, valuable support, and time. The combined results of the votes cast through remote e-voting and e-voting during the AGM on all the resolutions would be uploaded on the company’s website and will be intimated to the stock exchanges as per the SEBI Listing Obligations and Disclosure Requirements, Regulations 2015, by tomorrow.

I wish the shareholders all the very best and good health and hope to meet you in person at the next available opportunity. I now declare the meeting as closed.

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