Tech 7 Mahindra ei ileal Lint

To, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5" floor, Dalal Street, Plot No. - C/1, G Block, Scrip Code: 532755 Mumbai - 400 051.

Pune 411004, Maharashtra, India

Tel. +91 206601 8100 Fax. +91 20 2542 4466

techmahindra.com [email protected]

Registered Office: th ¥ Gateway Building, Apoilo Bunder 26% April, 2021 Mumbai 400 001, India

CIN L64200MH1 S86PLC041370

BSE Limited National Stock Exchange of India Limited Mumbai - 400 001. Bandra-Kurla Complex, Bandra (E), NSE Symbol: TECHM

Sub: Outcome of Board Meeting held on 26" April, 2021

Dear Sir(s)

Pursuant to Regulation 33 read with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ("Listing Regulations"), we wish to inform that the Board of Directors of the Company in its meeting held today approved the following:

Audited financial results and consolidated financial results of the Company for the fourth quarter and year ended 31% March, 2021. A copy of Audit Report with unmodified opinion under Regulation 33 of Listing Regulations on the annual Audited Financial Results of the Company for the year ended on 31* March, 2021 is enclosed.

In this regard, please find enclosed:

a.) Audited financial results and consolidated financial results of the Company for the fourth quarter and year ended 31*' March, 2021 together with Auditors Report thereon.
b.) Press Release on the financial results.
c.) Fact Sheet giving certain financial and operational parameters which will be put up on the Company website.
1. The Board of Directors have recommended a Final dividend of Rs.30/- per share (including Special Dividend of Rs.15/- per share) on par value of Rs.5/- (600%) for the financial year ended 31 March, 2021, subject to approval by the members of the Company at the forthcoming Annual General Meeting. The Special and Final dividend, if approved, will be paid by 11™ August, 2021. This dividend is in addition to Special Dividend of Rs.15/- per share paid as interim dividend in & the total dividend for FY 2021 will be Rs.45/- per share on par value of Rs.5/- (900%). ema

The 34 Annual General Meeting of the'Company will be held on Friday, 30" July, 2021.

Register of Members and Share Transfer Books will remain closed from Tuesday, 27" July, 2021 to Friday, 30" July, 2021 (both days inclusive) for the purpose of Annual General Meeting and payment of Dividend, to be declared.

Appointment of Mr. T. N. Manoharan (DIN: 01186248), Independent Director and Chairman of Nomination and Remuneration Committee of the Board, as the Lead Independent Director w.e.f. 26" April, 2021.

This is for your information and record.

Thanking you,

For Tech Mahindra Limited

Company Secretary

Encl.: As above

		Tech Mahindra Limited
	Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com
	Email : [email protected]. CIN : L64200MH1986PLC041370
	Consolidated Audited Financial Results for the quarter and year ended March 31, 2021
			Quarter ended		Rs. in Million except Earnings per shareYear ended
	Particulars	March 31,	December 31,	March 31,	March 31,	March 31,
		2021	2020	2020	2021	2020
1	Revenue from Operations	97,299	96,471	94,902	378,551	368,677
2	Other Income	326	2,209	2,852	7,871	11,924
3	Total Income (1 + 2)	97,625	98,680	97,754	386,422	380,601
4	Expenses
	Employee Benefits Expenses	46,955	49,688	48,129	192,973	188,100
	Subcontracting Expenses	12,367	11,997	12,758	49,743	54,408
	Finance Costs	417	421	532	1,740	1,919
	Depreciation and Amortisation ExpenseOther Expenses	3,44418,496	3,58415,831	3,98220,537	14,57767,365	14,45868,908
	Impairment of Goodwill and non-current assets (Refer note 12)	507	-	2,175	507	2,175
	Total Expenses	82,186	81,521	88,113	326,905	329,968
5	Profit before share in profit/(loss) of associates and tax (3-4)	15,439	17,159	9,641	59,517	50,633

6	Share of Profit / (Loss) of Associates	2	5	15	12	(55)
7	Profit before Tax (5 + 6)	15,441	17,164	9,656	59,529	50,578
8	Tax Expense
	Current Tax	5,116	4,746	2,943	18,115	12,378
	Deferred TaxTotal Tax Expense	(118)4,998	(483)4,263	(551)2,392	(2,116)15,999	(774)11,604

9	Profit after tax (7 - 8)	10,443	12,901	7,264	43,530	38,974
	Profit for the period attributable to:
	Owners of the CompanyNon Controlling Interests	10,814(371)	13,098(197)	8,039(775)	44,280(750)	40,330(1,356)

	10 Other Comprehensive Income / (Loss)
	A. Items that will not be reclassified to Profit or (Loss) (net of taxes)	(24)	(67)	(62)	1,586	(150)
	B. Items that will be reclassified to Profit or (Loss) (net of taxes)	1,647	(449)	(610)	2,651	(907)
	Total Other Comprehensive Income / (Loss) (A+B)	1,623	(516)	(672)	4,237	(1,057)
	11 Total Comprehensive Income (9 + 10)	12,066	12,385	6,592	47,767	37,917
	Total Comprehensive Income for the period attributable to:
	Owners of the Company	12,376	12,546	7,308	48,415	39,156
	Non Controlling Interests	(310)	(161)	(716)	(648)	(1,239)
	12 Paid-up Equity Share Capital (Face Value of Share Rs. 5)	4,370	4,366	4,359	4,370	4,359

	13 Total Reserves				244,280	213,772
	14 Earnings Per Equity Share (Rs)
	(EPS for the quarter periods ended are not annualised)Basic	12.37	14.98	9.21	50.64	46.21
	Diluted	12.26	14.87	9.14	50.19	45.85


	Standalone Information		Quarter ended		Year ended
	Particulars	March 31,	December 31,	March 31,	March 31,	March 31,
		2021	2020	2020	2021	2020
	Revenue from Operations	75,068	75,650	75,719	296,409	292,254
	Profit before Tax	15,273	16,398	15,175	55,266	53,322
	Profit after Tax	11,678	12,556	13,918	42,391	45,345

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com

Email : [email protected]. CIN : L64200MH1986PLC041370 Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Primary Segments

The Company identifies its Primary Business Segments based on the type of services offered, i.e. IT Services & BPO services.

Segment wise Revenue, Results and Capital Employed
		Quarter ended		Year ended
Particulars	March 31,	December 31,	March 31,	March 31,	March 31,
	2021	2020	2020	2021	2020
Segment Revenue
a) IT	86,730	85,905	86,681	340,495	334,564
b) BPO	10,569	10,566	8,221	38,056	34,113
Total Sales / Income from operations	97,299	96,471	94,902	378,551	368,677
Segment Profit before tax, interest and depreciation
a) IT	16,524	16,447	12,255	60,421	52,303
b) BPO	2,957	2,508	1,223	8,049	4,958
Total	19,481	18,955	13,478	68,470	57,261
Less:
(i) Finance costs	417	421	532	1,740	1,919
(ii) Other un-allocable expenditure,net off un-allocable incomeAdd:	3,625	1,375	3,305	7,213	4,709
Share of Profit / (Loss) of Associates	2	5	15	12	(55)
Profit before tax	15,441	17,164	9,656	59,529	50,578


Statement of Segment Assets and Liabilities			March 31,2021	December 31,2020	March 31,2020
Segment Assets
Trade and Other Receivables
IT			89,331	90,863	106,941
BPO			11,201	10,294	9,665
Total Trade and Other Receivables			100,532	101,157	116,606
Goodwill
IT			34,462	34,581	30,132
BPO			5,620	3,745	3,745
Total Goodwill			40,082	38,326	33,877
Unallocable Assets			256,166	250,378	223,052
TOTAL ASSETS			396,780	389,861	373,535
Segment Liabilities
Unearned Revenue
IT			7,414	7,939	5,492
BPO			286	77	1,001
Total Unearned Revenue			7,700	8,016	6,493
Unallocable Liabilities			136,635	141,114	144,978

Segmental Capital Employed

Segregation of assets into primary segments has been done to the extent applicable. Segregation of balance assets and liabilities into various primary segments has not been done as these are used interchangeably between segments. Accordingly no disclosure relating to such has been made.

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : [email protected]. CIN : L64200MH1986PLC041370

Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Balance Sheet as at March 31, 2021 (Consolidated - Audited)		Rs. in Million
Particulars	As at	As at
	March 31,2021	March 31,2020
ASSETS
Non-Current Assets
(a) Property, Plant and Equipment	24,632	26,609
(b) Capital Work-in-Progress	1,183	501
(c) Right-of-Use Asset	10,072	11,730
(d) Investment Property	891	1,444
(e) Goodwill	40,082	33,877
(f) Intangible Assets	14,508	15,060
(g) Investment accounted using Equity method	279	197
(h) Financial Assets
(i) Investments	5,478	2,163
(ii) Trade Receivables	25	37
(iii) Loans	47	45
(iv) Other Financial Assets	4,744	4,281
(i) Income Tax Assets (Net)	20,288	24,152
(j) Deferred Tax Assets (Net)	9,133	8,443
(k) Other Non-Current Assets	12,865	13,273
Total Non - Current Assets	144,227	141,812
Current Assets
(a) Inventories	242	358
(b) Financial Assets
(i) Investments	96,619	56,123
(ii) Trade Receivables	64,728	75,772
(iii) Cash and Cash Equivalents	26,904	30,167
(iv) Other Balances with Banks	1,448	1,316
(v) Other Financial Assets	33,281	37,355
(c) Other Current Assets	29,331	30,632
Total Current Assets	252,553	231,723
Total Assets	396,780	373,535
EQUITY AND LIABILITIES
Equity
(a) Equity Share Capital	4,370	4,359
(b) Other Equity	244,280	213,772
Equity Attributable to Owners of the Company	248,650	218,131
Non controlling Interest	3,795	3,933
Total Equity	252,445	222,064

Liabilities
Non-current liabilities
(a) Financial Liabilities
(i) Borrowings	1,658	1,787
(ii) Lease liabilities	8,077	8,539
(iii) Other Financial Liabilities	9,225	12,323
(b) Provisions	7,810	6,691
(c) Deferred tax liabilities (Net)	761	356
(d) Other Non-Current Liabilities	1,725	214
Total Non - Current Liabilities	29,256	29,910
Current liabilities
(a) Financial Liabilities
(i) Borrowings	14,960	22,495
(ii) Lease liabilities	4,003	3,459
(iii) Trade Payables	27,850	32,566
(iv) Other Financial Liabilities	20,910	17,898
	5,311	4,364
(b) Provisions
(c) Income Tax Liabilities (Net)	11,143	10,205
(d) Other Current Liabilities	18,598	18,270
Total Current Liabilities	102,775	109,257
Suspense Account (Net)	12,304	12,304

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : [email protected]. CIN : L64200MH1986PLC041370

Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Cash Flow Statement ( Consolidated-Audited )Particulars	Financial year ended	Rs.in Million
	March 31,2021	March 31,2020
A Cash Flow from Operating Activities
Profit Before Tax	59,529	50,578
Adjustments for :
Depreciation and Amortisation Expense	14,577	14,458
Bad debts and advance written off, allowance/(reversal) of doubtful receivables/unbilled	2,605	1,484
revenue and advances (net)
Share of (Profit) / Loss of Associates	(12)	55
Net (gain) / loss on disposal of Property, Plant and Equipment and Intangible Assets	(14)	(80)
Finance Costs	1,740	1,919
Unrealised Exchange (Gain) / Loss (net)	2,431	(776)
Share Based Payments to Employees	1,330	1,385
Interest Income	(1,885)	(2,434)
Rental Income	(407)	(392)
Dividend Income on Investments carried at fair value through profit and loss	(2)	(341)
Gain on Investments carried at fair value through profit and loss (net)	(1,593)	(2,063)
Change in fair valuation of Contractual Obligations	1,373	(550)
Gain on sale of subsidiary and dilution of Associate	(730)	(1,488)
Impairment of Goodwill and Non Current Assets	507	2,175
	79,449	63,930
Net Change in :
Trade Receivables	8,523	(3,561)
Unbilled revenue and contract assets	6,972	(10,777)
Other financial assets and other assets	968	(9,011)
Trade Payables	(6,195)	22,674
Unearned revenue and deferred revenue	1,259	39
Other financial liabilities, other liabilities and provisions	4,108	(4,582)
	15,635	(5,218)
Cash generated from operating activities before taxes	95,084	58,712
Income taxes paid, net	(14,146)	(15,131)
Net cash generated from operating activities (A)	80,938	43,581

B Cash Flow from Investing Activities
Purchase of Property, Plant and Equipment and Intangible Assets	(6,660)	(8,446)
Proceeds from Sale of Property, Plant and Equipment, Investment property and Intangible	935	153
Assets
Purchase of Mutual Funds, Debentures and Other Investments	(285,388)	(332,427)
Proceeds from sale / redemption of Mutual Funds, Debentures and Other	245,234	350,891
Investments
Proceeds from sale of subsidiary	-	802
Payment for acquisition of business / associates, net of cash acquired	(11,340)	(5,480)
Rental Income	348	311
Fixed Deposit/ Margin Money Placed	(16,639)	(1,235)
Fixed Deposit/ Margin Money Realized	16,796	3,191
Interest Income Received	2,213	2,526
Net cash generated from / (used in) investing activities (B)	(54,501)	10,286
C Cash Flow from Financing Activities
Proceeds from issuance of equity shares from exercise of stock options	569	468
Payment of dividend	(17,594)	(24,917)
Transaction with non controlling interest	688	-
Buyback of equity shares	-	(17,879)
Proceeds from Long-Term Borrowings	92	3,794
Repayment of Long-Term Borrowings	(376)	(13,354)
Movement in Short-Term Borrowings (net)	(7,665)	11,494
Repayment of lease liabilities	(3,794)	(2,378)
Finance Costs paid	(1,789)	(1,883)
Net cash used in financing activities (C)	(29,869)	(44,655)
Net Increase / (decrease) in cash and cash equivalents during the year (D=A+B+C)	(3,432)	9,212
Effect of exchange rate changes on cash and cash equivalents (E)	169	528

Cash and Cash Equivalents at the beginning of the year (F)	30,167	20,427
Cash and Cash Equivalents at the end of the year (G=D+E+F)	26,904	30,167

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com

Email : [email protected]. CIN : L64200MH1986PLC041370 Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Notes :

1 These results have been prepared on the basis of the consolidated audited financial statements for the year ended March 31, 2021 and the consolidated audited condensed interim financial results upto the end of the third quarter, which are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. The quarterly and yearly financial results have been reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors in its meeting held on April 26, 2021.
2 The Board of Directors has recommended a final dividend of Rs. 15 per equity share on face value of Rs. 5 each (300%) & special dividend of Rs. 15 per equity share on face value of Rs. 5 each (300%).

The Company has paid special dividend of Rs. 15 per equity share on face value of Rs. 5 each as interim dividend during the quarter ended December 31, 2020. The amount was recognized as distribution to equity shareholders.

3 The Company has considered the possible effects that may result from COVID-19, a global pandemic on the recoverable values of its financial and nonfinancial assets.The impact of COVID-19 on the consolidated financial results may differ from that estimated as at the date of approval of these consolidated financial results.

4 Certain matters relating to erstwhile Satyam Computer Services Limited (erstwhile Satyam): Proceedings in relation to 'Alleged Advances':

Erstwhile Satyam had, in the past, received letters from 37 companies seeking confirmation by way of acknowledgement of receipt of certain alleged amounts by the erstwhile Satyam (referred to as 'alleged advances'). These letters were followed with legal notices claiming repayment for a sum of Rs. 12,304 Million together with damages/compensation @ 18% per annum till the date of repayment. The erstwhile Satyam had not acknowledged any liability and replied to the legal notices stating that the claims are not legally tenable. Subsequently, the 37 companies filed petitions for recovery against the erstwhile Satyam before the City Civil Court, Secunderabad of which 1 petition was converted into a suit and the balance 36 petitions are at various stages of pauperism/suit admission.

The Hon'ble High Court in its Order approving the merger of the erstwhile Satyam with the Company, held that in the absence of Board resolutions and documents evidencing acceptance of unsecured loans, i.e. alleged advances, by the former Management of the erstwhile Satyam, the new Management of the erstwhile Satyam is justified in not crediting the amounts received in their names and not disclosing them as creditors and in disclosing such amounts as 'Amounts pending investigation suspense account (net)' in the financial statements. The Hon'ble High Court held, inter-alia, that the contention of the 37 companies that Satyam is retaining the money, i.e. the alleged advances, of the 'creditors' and not paying them does not appear to be valid and further held that any right of the objecting creditors can be considered only if the genuineness of the debt is proved.

Appeals were filed before the Division Bench of the Hon'ble High Court of Andhra Pradesh against the Order of the single judge of the Hon'ble High Court of Andhra Pradesh and the Hon'ble High Court of Bombay sanctioning the scheme of merger of erstwhile Satyam with the Company w.e.f. April 1, 2011, which are yet to be heard. One of the aforesaid companies also filed an appeal against the order rejecting the Petition for winding up of the erstwhile Satyam. These matters have been combined for hearing.

The Directorate of Enforcement (ED) while investigating the matter under the Prevention of Money Laundering Act, 2002 (PMLA) had directed the erstwhile Satyam not to return the alleged advances until further instructions. Subsequently, ED had attached Fixed Deposits for an aggregate value of Rs.8,220 Million alleged to be the proceeds of crime. The Hon'ble High Court of Judicature at Hyderabad granted stay on December 11, 2012 and set aside the Provisional attachment order on December 31, 2018. Subsequently, ED filed a Special Leave Petition (SLP) before the Hon'ble Supreme Court of India against the above order of the Hon'ble High Court of Telangana.The Hon'ble Supreme Court upon hearing the parties upheld the judgement of Hon'ble High court of Andhra Pradesh and Telangana and consequently dismissed the SLP filed by ED by its order dated February 26, 2021.

In view of the aforesaid and based on an independent legal opinion, the Management believes that the claim by the 37 companies for repayment of the alleged advances, including interest thereon is not legally tenable. Consequently, pending the final outcome of the proceedings, as a matter of prudence, the Company has accounted and disclosed the amount of Rs. 12,304 Million as 'Suspense Account (net)'.

5 Satyam Venture Engineering Services Private Limited (SVES)

Accounting for sales commission

During the financial year 2011-2012, the Board of SVES reassessed the need to accrue sales commission considering that no services were rendered by Venture Global LLC during the period from FY 2005-2006 to FY 2011-2012. Accordingly, the Board of SVES decided to write back sales commission amounting to Rs. 359 Million pertaining to the years from FY 2005-2006 to FY 2010-2011 and to not accrue for sales commission for FY 2011-2012 amounting to Rs. 170 Million. However, pending the final disposal of legal proceedings in relation to disputes between Tech Mahindra Ltd and Venture Global LLC, the Board of SVES decided to account for a contingency provision for the sales commission amounting to Rs. 529 Million covering the period from FY 2005-2006 to FY 2011-2012. Considering the Order of the Honorable High Court of Andhra Pradesh dated August 23, 2013 directing all parties to maintain status quo, the Board of SVES based on a legal opinion decided not to reverse the contingency provision made in FY 2011-2012. Further, since the matter is subjudice, sales commission for subsequent periods has been disclosed as a contingent liability amounting to Rs. 2,497 Million as on March 31, 2021 (March 31, 2020: Rs.2,146 Million).

Adoption of Financial statements

At the Annual General Meetings of the SVES held on October 29, 2012, September 10, 2013, September 22, 2014, September 07, 2015, July 29, 2016, July 19, 2017, July 23, 2018, July 23, 2019 and July 17, 2020 one of the shareholders abstained from voting on the resolution for adoption of audited financial statements as at and for the year ended March 31, 2012, March 31, 2013, March 31, 2014, March 31, 2015, March 31, 2016, March 31, 2017, March 31, 2018, March 31, 2019 and March 31, 2020 respectively. In terms of Article 66 of the Articles of Association of SVES, the adoption of audited financial statements requires unanimous consent of both the shareholders of SVES. Therefore, the said financials have not been approved by the shareholders.

The financial statements of SVES as at and for the year ended March 31, 2021 have been drawn up incorporating the opening balances based on above said financial statements which have not been adopted by the Shareholders. Adjustments required, if any, will be made in accounts as and when determined.

6 Pursuant to a share purchase agreement, the Company acquired 51% stake in Cerium Systems Private Limited ("Cerium") on April 9, 2020 for a total consideration of Rs. 1,454 Million, out of which Rs. 1,354 Million was paid. Further, the Company has entered into an agreement to purchase the remaining 49% stake over a period of three-years ending March 31, 2023.
7 Pursuant to a share purchase agreement, the Company acquired 100% stake in Zen3 Infosolutions Private Limited on April 9, 2020 for a consideration of Rs. 141 Million. Further, the Company through its wholly owned subsidiary, Tech Mahindra (Americas) Inc., acquired 100% stake in Zen3 Infosolutions (America) Inc. for a consideration of USD 51.34 Million (Rs. 3,882 Million) out of which USD 34.57 Million (Rs. 2,614 Million) was paid upfront. The agreement also provides for guaranteed payment of USD 3.85 Million (Rs 292 Million) and contingent consideration based on financial performance. As at March 31, 2021, contractual obligation towards the said acquisition amounts to USD 16.77 Million (Rs. 1,226 Million).
8 Pursuant to a share purchase agreement, the Company acquired 100% stake in Tenzing Limited and Tenzing Australia Limited (together known as Tenzing Group) through its wholly owned subsidiary Tech Mahindra Singapore Pte. Limited on December 1, 2020 for a consideration of NZD 39.57 Million (Rs. 2,083 Million) out of which NZD 30.05 Million (Rs. 1,581 Million) was paid upfront. As at March 31, 2021, contractual obligation towards the said acquisition amounts to NZD 9.52 Million (Rs. 487 Million).
9 Pursuant to a share purchase agreement, the Company through its wholly owned subsidiary, Tech Mahindra Singapore Pte. Limited acquired 100% stake in Momenton Pty Ltd on February 12, 2021 for a consideration of AUD 9.01 Million (Rs 508 Million).

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : [email protected]. CIN : L64200MH1986PLC041370

Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

10 Pursuant to a share purchase agreement, the Company acquired 100% stake in Perigord Data Solutions India Private Limited and Perigord Premedia India Limited on March 15, 2021 for a consideration of Rs 101 Million and Rs 133 Million respectively . Further, the Company through its wholly owned subsidiary, Mahindra Engineering Services (Europe) Limited, acquired 70% stake in Perigord Asset Holding Limited for a consideration of Euro 20.92 Million (Rs. 1,813 Million) which was paid upfront. The Company has also entered into an agreement to purchase the remaining 30% based on financial performance. As at March 31, 2021, contractual obligation towards the said acquisition amounts to Euro 18.48 Million (Rs. 1,602 Million).
11 Subsequent to the balance sheet date, the Company through its wholly owned subsidiary Tech Mahindra (Americas) Inc. has entered into share purchase agreements to acquire 100% stake in DigitalOnUs, Inc. and Eventus Solutions Group, LLC for a consideration of USD 120 Million (Rs. 8,773 Million) and USD 44 Million (Rs. 3,217 Million) respectively, comprising of upfront, deferred and contingent consideration.
12 The Company based on its annual impairment assessment of the goodwill outstanding in the books of accounts and the underlying cash generating unit ('CGU') to which the goodwill is allocated, assessed the recoverable amount of certain CGUs to be lower than their carrying value. Consequently, the Company has recognized an impairment of Rs. 507 Million in the statement of profit and loss for the year ended March 31, 2021 (year ended March 31, 2020: Rs. 2,175 Million).
13 Tax expense for the Quarter Ended ("QE") and Year ended ("YE") March 31, 2021 includes Rs. 793 Million pertaining to earlier periods. (Q3 December 31, 2020 : Rs. Nil) (Tax expense for the QE and YE March 31, 2020 is net of excess provision of Rs. 622 Million and Rs. 2,755 Million respectively, of earlier period, no longer required, written back).
14 The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post – employment benefits has received the Presidential assent in September 2020. The Ministry of Labour and Employment had released draft rules for the Code on November 13, 2020, and had invited suggestions from stakeholders which are under active consideration by the Ministry. However, the effective date from which the changes are applicable is yet to be notified. The Company and its Indian subsidiaries will evaluate and will give appropriate impact in the financial statements in the period in which the Code becomes effective and the related rules are published.

15 Emphasis of Matters

The Emphasis of Matters in the Auditor's Report pertains to the following:

(i) With relation to Note 4 in respect of certain matters relating to erstwhile Satyam Computer Services Limited (erstwhile Satyam), amalgamated with the Company with effect from April 1, 2011 which is discussed below:

The Company's Management, on the basis of current legal status and external legal opinion, has concluded that claims made by 37 companies in the City Civil Court for alleged advances amounting to Rs. 12,304 Million made by these companies to erstwhile Satyam and presented separately under 'Suspense account (net)', will not sustain on ultimate resolution by the Court.

(ii) With relation to Note 5 in case of one of the subsidiaries of the Group, the other auditors in their auditor's report have drawn attention to a possible charge, that may arise in respect of the on-going dispute which is currently sub-judice between the promoters of the subsidiary on various issues relating to the shareholders agreement, the outcome of which is not determinable at this stage. Further, the auditors have drawn attention to the fact that the annual financial statements for the years ended from March 31, 2012 to March 31, 2020 have not yet been adopted by the members of that subsidiary in their respective annual general meetings in the absence of unanimous consent of both the shareholders. The consolidated financial statements as at and for the quarter ended March 31, 2021 have been drawn up by incorporating the opening balances based on the above mentioned financial statements which have not been adopted by the shareholders of the subsidiary company. Adjustments to the opening balances, if any, will be made once the abovementioned financial statements are adopted.

16 Management response to Emphasis of Matters:

With regard to the Emphasis of Matters stated in Note 15 above, there are no additional developments on Emphasis of Matters mentioned in Notes 4 and 5 above which require adjustments to the consolidated audited financial results.

17 The Financial Results have been made available to the Stock Exchanges where the Company's securities are listed and are posted on the Company's website at the web-link: https://www.techmahindra.com/en-in/investors/.

Date : April 26, 2021 Place : Mumbai Managing Director & CEO

C. P. Gurnani

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.comEmail : [email protected] CIN : L64200MH1986PLC041370Standalone Audited Financial Results for the quarter and year ended March 31, 2021	Tech Mahindra Limited
					Rs. in Million except Earnings per share
		Quarter ended			Year ended
Particulars	March 31, 2021	December 31,2020	March 31, 2020	March 31, 2021	March 31, 2020
1 Revenue from Operations	75,068	75,650	75,719	296,409	292,254
2 Other Income	2,070	2,863	12,577	9,218	23,662
3 Total Income (1 + 2)	77,138	78,513	88,296	305,627	315,916
4 ExpensesEmployee Benefit ExpensesSubcontracting ExpensesFinance Costs	21,97926,915147	24,00927,410148	23,33630,399269	91,626113,206632	92,827116,074667
Depreciation and Amortisation Expense	1,577	1,659	1,720	6,623	6,674
Other Expenses	9,808	8,889	11,843	36,835	40,798
Impairment of non-current investments (Refer note 8)	1,439	-	5,554	1,439	5,554
Total Expenses	61,865	62,115	73,121	250,361	262,594
5 Profit before Tax (3 - 4)6 Tax Expense	15,273	16,398	15,175	55,266	53,322
Current Tax	3,065	4,022	1,614	13,604	8,813
Deferred Tax	530	(180)	(357)	(729)	(836)
Total Tax Expense	3,595	3,842	1,257	12,875	7,977
7 Profit after tax (5 - 6)	11,678	12,556	13,918	42,391	45,345
8 Other Comprehensive Income / (Loss)
A. Items that will not be reclassified to Profit or (Loss) (net of taxes)	(14)	(45)	(34)	7	(98)
B. Items that will be reclassified to Profit or (Loss) (net of taxes)	1,145	(526)	(1,672)	2,446	(3,136)
Total Other Comprehensive Income / (Loss) (A+B)	1,131	(571)	(1,706)	2,453	(3,234)
9 Total Comprehensive Income (7 + 8)	12,809	11,985	12,212	44,844	42,111
10 Paid-up Equity Share Capital (Face Value of Share Rs. 5)	4,841	4,837	4,829	4,841	4,829
11 Total Reserves				245,317	217,905
12 Earnings Per Equity Share in Rs.(EPS for the quarter periods ended are not annualised)- Basic	12.06	12.97	14.39	43.76	46.89
- Diluted	11.96	12.88	14.29	43.41	46.56

	Email : [email protected] CIN : L64200MH1986PLC041370
Standalone Audited Financial Results for the quarter and year ended March 31, 2021
Balance Sheet as at March 31, 2021 (Standalone - Audited)		Rs. in Million
Particulars	As atMarch 31, 2021	As atMarch 31, 2020
ASSETS
Non-Current Assets(a) Property, Plant and Equipment	18,524	20,069
(b) Capital Work-in-Progress	1,114	352
(c) Right-of-Use Asset	4,680	5,383
(d) Investment Property	891	997
(e) Goodwill	167	-
(f) Intangible Assets	6,215	6,908

(g) Financial Assets(i) Investments	74,982	58,883
(ii) Trade Receivables	-	-
(iii) Other Financial Assets	3,827	4,249
(h) Income Tax Assets (Net)	15,069	18,880
(i) Deferred Tax Assets (Net)	4,054	4,364
(j) Other Non-Current Assets	4,022	2,704
Total Non - Current Assets	133,545	122,789
Current Assets
(a) Financial Assets
(i) Investments(ii) Trade Receivables	90,54251,526	47,60362,120
(iii) Cash and Cash Equivalents	9,880	18,038
(iv) Other Balances with Banks	621	542
(v) Loans	73	76
(vi) Other Financial Assets	28,468	32,844
(b) Other Current Assets	19,092	19,208
Total Current Assets	200,202	180,431
Total Assets	333,747	303,220
EQUITY AND LIABILITIESEquity
(a) Equity Share Capital	4,841	4,829
(b) Other Equity	245,317	217,905
Total Equity	250,158	222,734
LiabilitiesNon-current liabilities
(a) Financial Liabilities
(i) Lease liabilities	3,497	3,424
(ii) Other Financial Liabilities	2,462	3,026
(b) Provisions	4,930	4,594
(c) Other Non-Current Liabilities	783	-
Total Non - Current Liabilities	11,672	11,044
Current liabilities
(a) Financial Liabilities
(i) Lease Obligations(ii) Trade Payables	1,691	1,385
(1) Dues of micro enterprises and small enterprises	53	42
(2) Dues of creditors other than micro enterprises and small enterprises	25,225	25,214
(iii) Other Financial Liabilities	10,414	8,230
(b) Provisions	2,098	1,859
(c) Income Tax Liabilities (Net)	8,545	7,877
(d) Other Current Liabilities	11,587	12,531
Total Current Liabilities	59,613	57,138

Suspense Account (Net)	12,304	12,304

Tech Mahindra Limited
Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.comEmail : [email protected] CIN : L64200MH1986PLC041370
Standalone Audited Financial Results for the quarter and year ended March 31, 2021
Cash Flow Statement ( Standalone-Audited )		Rs. in Million
	Financial year ended
Particulars	March 31,2021	March 31,2020
A) Cash Flow from Operating Activities
Profit before Tax	55,266	53,322
Adjustments for :
Depreciation and Amortization Expense	6,623	6,674
Bad debts and advance written off, allowance/(reversal) of doubtful	3,363	2,538
receivables/unbilled revenue and advances (net)Net (gain)/loss on disposal of Property, Plant and Equipment and Intangible Assets	(29)	(4)
Finance Costs	632	667
Unrealized Exchange (gain)/Loss (net)	1,543	(2,658)
Share Based Payments to Employees	1,039	1,093
Loss on Sale of Investment (Net)	-	443
Impairment of non current investment	1,439	5,554
Interest Income	(1,690)	(2,257)
Rental Income	(306)	(320)
Dividend Income on Investments / Distributions from benefit trust	(2,905)	(14,634)
Gain on investments carried at fair value through profit and loss ( net)	(1,482)	(1,889)
	63,493	48,529
Net change in:
Trade ReceivablesUnbilled revenue and contract assets	5,7585,539	(2,266)(7,345)
Other financial assets and other assets	(1,425)	140
Trade Payables	109	(4,539)
Unearned revenue and deferred revenue	1,456	(169)
Other financial liabilities, other liabilities and provisions	2,714	475
	14,151	(13,704)
Cash generated from operating activities before taxes	77,644	34,825
Income taxes paid, net	(9,125)	(11,021)
Net cash generated from Operating activities (A)	68,519	23,804
B) Cash Flow from Investing Activities
Purchase of Property, Plant and Equipment and Intangible Assets	(4,179)	(5,789)
Proceeds from Sale of Property, Plant and Equipment and Intangible Assets	47	13
Purchase of Mutual Funds, Debentures and Other Investments	(275,773)	(316,144)
Proceeds from sale/ redemption of Mutual Funds, Debentures and Other Investments	229,335	340,983
Dividend Income on Investments / Distributions from benefit trust	2,656	14,297
Investment in Associate and Subsidiaries (including payment towards	(11,024)	(5,728)
acquisition of business(net of cash acquired))Proceeds from sale of Subsidiary36 (d) and 36 (g))	-	224
Rental Income	293	238
Fixed Deposit / Margin Money Placed	(15,708)	(530)
Fixed Deposit / Margin Money Realized	16,068	2,563
Interest income received	2,077	2,394
Net cash generated from/(used in) Investing activities (B)	(56,208)	32,521
C) Cash Flow from Financing Activities
Proceeds from issuance of equity shares from exercise of stock options	568	467
Buyback of equity shares	-	(19,556)
Payment of dividend (including Tax on dividend in previous year)	(19,335)	(27,522)
Repayment of lease liabilities	(1,262)	(1,145)
Finance costs paid	(632)	(668)
Net cash from/(used in) Financing activities (C)	(20,661)	(48,424)
Net Increase/(decrease) in cash and cash equivalents during the year (D) = (A+B+C)	(8,350)	7,901
Effect of exchange rate changes on cash and cash equivalents (E)	192	538
Cash and Cash Equivalents at the beginning of the year (F)	18,038	9,599
Cash and Cash Equivalents at the end of the year (G) = (D+E+F)	9,880	18,038

	Tech Mahindra Limited
	Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.comEmail : [email protected] CIN : L64200MH1986PLC041370
	Standalone Audited Financial Results for the quarter and year ended March 31, 2021
	Notes :
1	These results have been prepared on the basis of the standalone audited financial statements for the year ended March 31, 2021 and the standalone audited condensed interimfinancial results upto the end of the third quarter, which are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. Thequarterly and yearly financial results have been reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors in its meeting held on April 26,2021.
2	The Board of Directors has recommended a final dividend of Rs. 15 per equity share on face value of Rs. 5 each (300%) & special dividend of Rs. 15 per equity share on face value ofRs. 5 each (300%).
	The Company has paid special dividend of Rs. 15 per equity share on face value of Rs. 5 each as interim dividend during the quarter ended December 31, 2020. The amount wasrecognized as distribution to equity shareholders.
3	The Company has considered the possible effects that may result from COVID-19, a global pandemic on the recoverable values of its financial and non-financial assets.The impact ofCOVID-19 on the standalone financial results may differ from that estimated as at the date of approval of these standalone financial results.
4	Certain matters relating to erstwhile Satyam Computer Services Limited (erstwhile Satyam):
	Proceedings in relation to 'Alleged Advances':Erstwhile Satyam had, in the past, received letters from 37 companies seeking confirmation by way of acknowledgement of receipt of certain alleged amounts by the erstwhile Satyam(referred to as 'alleged advances'). These letters were followed with legal notices claiming repayment for a sum of Rs. 12,304 Million together with damages/compensation @ 18% perannum till the date of repayment. The erstwhile Satyam had not acknowledged any liability and replied to the legal notices stating that the claims are not legally tenable. Subsequently,the 37 companies filed petitions for recovery against the erstwhile Satyam before the City Civil Court, Secunderabad of which 1 petition was converted into a suit and the balance 36petitions are at various stages of pauperism/suit admission.
	The Hon'ble High Court in its Order approving the merger of the erstwhile Satyam with the Company, held that in the absence of Board resolutions and documents evidencingacceptance of unsecured loans, i.e. alleged advances, by the former Management of the erstwhile Satyam, the new Management of the erstwhile Satyam is justified in not crediting theamounts received in their names and not disclosing them as creditors and in disclosing such amounts as 'Amounts pending investigation suspense account (net)' in the financialstatements. The Hon'ble High Court held, inter-alia, that the contention of the 37 companies that Satyam is retaining the money, i.e. the alleged advances, of the 'creditors' and notpaying them does not appear to be valid and further held that any right of the objecting creditors can be considered only if the genuineness of the debt is proved.
	Appeals were filed before the Division Bench of the Hon'ble High Court of Andhra Pradesh against the Order of the single judge of the Hon'ble High Court of Andhra Pradesh and theHon'ble High Court of Bombay sanctioning the scheme of merger of erstwhile Satyam with the Company w.e.f. April 1, 2011, which are yet to be heard. One of the aforesaid companiesalso filed an appeal against the order rejecting the Petition for winding up of the erstwhile Satyam. These matters have been combined for hearing.
	The Directorate of Enforcement (ED) while investigating the matter under the Prevention of Money Laundering Act, 2002 (PMLA) had directed the erstwhile Satyam not to return thealleged advances until further instructions. Subsequently, ED had attached Fixed Deposits for an aggregate value of Rs.8,220 Million alleged to be the proceeds of crime. The Hon'bleHigh Court of Judicature at Hyderabad granted stay on December 11, 2012 and set aside the Provisional attachment order on December 31, 2018. Subsequently, ED filed a SpecialLeave Petition (SLP) before the Hon'ble Supreme Court of India against the above order of the Hon'ble High Court of Telangana.The Hon'ble Supreme Court upon hearing the partiesupheld the judgement of Hon'ble High court of Andhra Pradesh and Telangana and consequently dismissed the SLP filed by ED by its order dated February 26, 2021.
	In view of the aforesaid and based on an independent legal opinion, the Management believes that the claim by the 37 companies for repayment of the alleged advances, includinginterest thereon is not legally tenable. Consequently, pending the final outcome of the proceedings, as a matter of prudence, the Company has accounted and disclosed the amount ofRs. 12,304 Million as 'Suspense Account (net)'.
5	Pursuant to a share purchase agreement, the Company acquired 51% stake in Cerium Systems Private Limited ("Cerium") on April 9, 2020 for a total consideration of Rs. 1,454 Million,out of which Rs. 916 Million was paid upfront. Further, the Company has entered into an agreement to purchase the remaining 49% stake over a period of three years ending March 31,2023.
6	Pursuant to a share purchase agreement, the Company acquired 100% stake in Zen3 Infosolutions Private Limited on April 9, 2020 for a consideration of Rs. 141 Million. Further, theCompany through its wholly owned subsidiary Tech Mahindra (Americas) Inc., acquired 100% stake in Zen3 Infosolutions (America) Inc. on April 9, 2020.
7	Pursuant to a share purchase agreement, the Company acquired 100% stake in Perigord Premedia (India) Private Limited and Perigord Data Solutions (India) Private Limited on March15, 2021 for a consideration of Rs. 133 Million and Rs. 101 Million, respectively. Further, the Company through its wholly owned subsidiary Mahindra Engineering Services (Europe)Limited, acquired 70% stake in Perigord Asset Holdings Limited on March 15, 2021. Also, Mahindra Engineering Services (Europe) Limited has entered into an agreement to purchasethe balance 30% stake over a period of four-years, ending March 31, 2024.
8	The Company based on the performance of few subsidaries and relevant economic and market indicators has assessed the recoverable amount of investment in those subsidiaries.Consequently, the Company has recognised an impairment of Rs.1,439 Million in the statement of profit and loss for the year ended March 31, 2021 (year ended March 31, 2020: Rs.5,554 Million).
9	Tax expense for the Quarter Ended ("QE") March 31, 2021 is net of excess provision of Rs. 201 Million of earlier periods, no longer required, written back (QE December 31, 2020: Rs.
	Nil ; QE March 31, 2020: Rs. 622 Million).Tax expense for the Year ended ("YE") March 31, 2021 is net of excess provision of Rs. 201 Million of earlier periods, no longer required, written back (YE March 31, 2020: Rs. 2,451Million).
10	The Code on Social Security, 2020 ('Code') relating to employee benefits during employment and post – employment benefits has received the Presidential assent in September 2020.The Ministry of Labour and Employment had released draft rules for the Code on November 13, 2020, and had invited suggestions from stakeholders which are under activeconsideration by the Ministry. However, the effective date from which the changes are applicable is yet to be notified. The Company will evaluate and will give appropriate impact in thefinancial statements in the period in which the Code becomes effective and the related rules are published.
11	Emphasis of Matter
	The Emphasis of Matter in the Auditors' Report pertains to the following:With relation to Note 4 in respect of certain matters relating to erstwhile Satyam Computer Services Limited (erstwhile Satyam), amalgamated with the Company with effect from April 1,
	2011 which is discussed below:The Company's management, on the basis of current legal status and external legal opinion, has concluded that claims made by 37 companies in the City Civil Court for allegedadvances amounting to Rs. 12,304 Million made by these companies to erstwhile Satyam and presented separately under 'Suspense account (net)', will not sustain on ultimateresolution by the Court.
12	Management response to Emphasis of Matter:With regard to the Emphasis of Matter stated in Note 11 above, there are no additional developments on Emphasis of Matter mentioned in Note 4 above which require adjustments tothe standalone audited financial results.
13	The Financial Results have been made available to the Stock Exchanges where the Company's securities are listed and are posted on the Company's website at the web-link:https://www.techmahindra.com/en-in/investors/.

Date : April 26, 2021 C. P. Gurnani Place : Mumbai Managing Director & CEO

Tech Mahindra FY21 Revenues up 2.7%

FY21 EBITDA margins at 18.1%

Board Recommends dividend of € 30 per share

Pune — April 26", 2021: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering services today announced the audited consolidated financial results for its fourth quarter and year ended ended March 31, 2021.

Financial highlights for the Year (USD)

e Revenue at USD 5,111.1 mn; down 1.4% YoY
e EBITDA at USD 925.6 mn; up 15.2% YoY;
- o Margins at 18.1%; up 260bps YoY
e Profit after tax (PAT) at USD 597.8 mn; up 5.5% YoY
e Free cash flow at $ 965 mn, conversion to PAT at 162%

Financial highlights for the year (2)

e Revenue at = 37,855 crores; up 2.7% YoY
e EBITDA at = 6,847 crores; up 19.6% YoY;
- o Margins at 18.1%; up 260bps YoY
e Profit after tax (PAT) at = 4,428 crores; up 9.8% YoY
e Earnings per share (EPS) was at = 50.19
e The Board has proposed a Final Dividend of % 15/- per share (300%) and a Special Dividend of & 15/ per share (300%) on the FV of 2 5 in addition to the Special Dividend of % 15 /- per share declared earlier.
- o Total Dividend declared for FY21 is of 45/- per share (900%)
- e Free Cash flow of = 7,169 Crore

Financial highlights for the quarter (USD)

e Revenue at USD 1329.6 mn; up 1.6% QoQ, up 2.7% YoY
- o Revenue growth at 0.7% QoQ in constant currency terms
e EBITDA at USD 266.1 mn; up 3.5% QoQ, up 45.6% YoY

o Margins at 20.0%; up 40bps QoQ
e Profit after tax (PAT) at USD 147.7 mn; down 16.9% QoQ, up 35.5% YoY
e Free cash flow at $ 187 mn, conversion to PAT at 127%

Financial highlights for the quarter (%)

e Revenue at = 9,730 crores; up 0.9% QoQ, up 2.5% YoY
e EBITDA at = 1,948 crores; up 2.8% QoQ, up 44.5% YoY
e Consolidated PAT at = 1,081 crores; down 17.4% QoQ, up 34.6% YoY
e Earnings per share (EPS) was at = 12.26

Other Highlights

e Total headcount at 121,054, down 847 QoQ
e Cash and Cash Equivalent at USD 1780.9 mn as of March 31, 2021

CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,

"Our continued focus on cutting-edge technologies has expanded client engagement with large deal wins this quarter. We are witnessing a strong demand acceleration and are committed towards delivering a next-level human-centered experience of the future, Now. The health and wellness of our associates and community at large, continues to be our prime focus, as we navigate through this pandemic together."

Milind Kulkarni, Chief Financial Officer, Tech Mahindra, said,

"We have witnessed substantial margin improvement and cash flow generation this year. Our focus on delivery transformation will continue, as we increasingly witness a structural shift towards digital to adapt to the new normal. We are positioned uniquely to gain from this shift, while improving our financial and operating metrics going forward."

Tech Mahindra also announced the acquisition of Eventus Solutions Group, a consulting and technology service company, headquartered in the US, to bolster consulting capabilities in Customer Experience (CX) and customer management space. Eventus Solutions Group offers end-to-end customer engagement solutions, such as strategy consulting, cloud based tools and automation services, and managed services. The acquisition will enable Tech Mahindra to build an industry leading consulting practice and move up the value chain in the BPS business.

Vivek Agarwal, President — BFSI, HLS and Corporate Development, said,

"Enhancing Customer Experience continues to be one of the central themes of our acquisition strategy at Tech Mahindra. The acquisition of Eventus Solutions Group will offer significant differentiation to in the rapidly growing consulting business, and will enable us to drive crosssell and downstream revenue."

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e Tech Mahindra has won a digital transformation deal with Telefonica Germany to deliver faster product launches and provide a more 'human centered' experience to its customers in the mass market segment.
e Tech Mahindra has been chosen by a European headquartered Food & Beverage chain to digitally transform its core operations, enhance customer experience and help develop new lines of business.
e Selected by a global leading Hyperscaler and Technology company for customer experience management and support.
e Tech Mahindra has been engaged by one of the leading American network equipment providers as a cloud transformation partner.
e Tech Mahindra has been selected by one of the major Middle Eastern Communication provider as a managed service partner for Digital Transformation of Application, Infra and Security Operations Centre.
e Won a deal with a European transportation and Equipment manufacturer for digital product engineering services.

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e Tech Mahindra has been selected by a Middle Eastern government authority for digital services using next-generation Al Ops frameworks & tools to enhance customer experience and technology transformation.
e Selected by a global manufacturing conglomerate, featuring in Fortune 500 as a strategic IT and engineering partner.
e Engaged by a European departmental stores and e-Retailer for end to end Information and communications technology (ICT) transformation.

Business Highlights

e Tech Mahindra has achieved SAP expertise on Google cloud, demonstrating success in building customer solutions by leveraging Google Cloud Platform (GCP).
e Tech Mahindra has launched 'CLOUDEFENDER' — a new cloud-based attack mitigation service, powered by Radware, a leading provider of cyber security and application delivery solutions.
- e Tech Mahindra has achieved System and Organization Control (SOC) 2 type 2 attestation for BPS and IT services reinforcing Tech Mahindra's commitment towards safeguarding customer's security, privacy, availability and confidentiality across all services globally.
- e Tech Mahindra has partnered with ThoughtSpot, the leader in search and Al-driven analytics to offer scalable and Al-Driven analytics for business insights.
- e Tech Mahindra and Celonis, the global leader in Execution Management Systems (EMS) have launched frictionless contact center BPO transformation solution.
- e Tech Mahindra has deployed Crime and Criminal Tracking Network & Systems for Himachal Pradesh Police.
- e Tech Mahindra has launched first-of-its-kind phygital (physical and digital) Global Chess League. Viswanathan Anand, five-time World Chess Champion and Indian Chess Grandmaster will mentor, partner, advise and help shape the league.
- e Tech Mahindra and RSA Scandinavia, one of the largest general insurer in the Nordics have partnered to accelerate digital transformation in Banking and Insurance domain.
- e Makers Lab, the research and development arm of Tech Mahindra collaborated with the College of Military Engineering (CME), Pune to address challenges in the field of defence through technological innovations.

Awards and Recognitions

e Tech Mahindra has been featured in Fortune India 500 most valuable firms.
e Tech Mahindra has been ranked amongst Top 15 'IT Services Brand' globally by Brand Finance in 2021.

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e Tech Mahindra featured amongst Forbes Top 50 Organizations in Blockchain for 2021.
e TechM has been declared as 'Dream Company to work for by World HRD Congress.
e Tech Mahindra's CSR arm has received Cll Award for its CSR & COVID Relief Initiatives for 2020-2021.
e Tech Mahindra has been recognized as a leader in Gartner 2021 Magic Quadrant for Customer Service BPO.
e Tech Mahindra featured in the list of Forbes America's Best Management Consulting Firms 2021.
e TechM has been included in the Carbon Disclosure Project (CDP) Supplier Engagement Leader board 2020.
e TechM is the only Indian company recognized amongst the '2021 Global 100 Most Sustainable Corporations' by Corporate Knights
e TechM got awarded with Gold rating with 94 percentile by EcoVadis.
e TechM received the Bronze Class distinction for its excellent sustainability performance and included in the 'S&P Global 2021 edition of The Sustainability Yearbook.
e TMF has been rewarded Mahatma Award 2020 for Social Good by Aditya Birla Group.
e TMF has been awarded for CSR project 'COVID-19 Relief Project' for Supporting the Society in Emergency and Rehabilitation by India CSR.

About Tech Mahindra

Tech Mahindra offers innovative and customer-centric digital experiences, enabling enterprises, associates and the society to Rise™. We are a USD 5.1 billion organization with 121,00+ professionals across 90 countries helping 1007 global customers, including Fortune 500 companies. We are focused on leveraging next-generation technologies including 5G, Blockchain, Cybersecurity, Artificial Intelligence, and more, to enable end to end digital transformation for global customers. Tech Mahindra is one of the fastest growing brands and amongst the top 15 IT service providers globally. Tech Mahindra has consistently emerged as a leader in sustainability and is recognized amongst the '2021 Global 100 Most sustainable corporations in the World' by Corporate Knights. With the NXT.NOW framework, Tech Mahindra aims to enhance 'Human Centric Experience' for our ecosystem and drive collaborative disruption with synergies arising from a robust portfolio of companies. We aim at delivering tomorrow's experiences today, and believe that the 'Future is Now'.

We are part of the Mahindra Group, a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company by volume. It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 2,56,000 people across 100 countries.

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Phone: +91 98208 91860 Phone: +91 97179 46080

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Phone: +91 70660 07951 Phone: +91 98993 21495 Email: [email protected] Email: [email protected]

[email protected] [email protected]

Kaustubh Vaidya Abhilasha Gupta

Head — Investor Relations Head - Corporate Communications & Public Affairs Email: kaustubh. [email protected] Email: [email protected]

investor Relations Corporate Communications & Public Affairs:

Disclaimer

Certain statements in this release conceming the future prospects of Tech Mahindra Limited ("the Company" or "TechM") are forward-looking Statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

Audited consolidated financial for the quarter and year ended March 31, 2021 drawn under Ind AS

SAME a	Q4FY21	Q3FY21	Q4FY20	ard	FY 20
Revenue	97,299	96,471	94,902	378,551	368,677
Cost of Services	64.407	64,708	66,806	S«258,555	250,743
Gross Profit	32,803	31,763	28,006	119,996	108,934
eee	13,322	12,808	14,528	51,526	51,673
EBITDA	19,480	18,955«=	13,478	68,470	_—'57,261
Other Income	326	2,209	2,852 =	7,871	11,924
Interest Expense	417	421	532	1,740	1,919
Depreciation &Amortization	3,444	3,584	3,982=»	14,577	14,458
Impairment of Goodwilland non current assets	507	-	2,175	507	2,175
Share of profit / (loss)from associate	2	5	15	12	(55)
ProfitbeforeTax =	45,441	17,164	9,656	59,529	50,578
PrOvIsIONIOF Hes	4,998	4,263	2,392	15,999	11,604
_Minority Interest	37	sey	S775	750	1,356
Profit after Tax	10,814	13,098	8,039	44,280	40,330
EPS ( =/ share)
Basic	1237	1498	921	50.64	46.21
Diluted	12.26	14.87	9.14	50.19	45.85

CT aa Calm VLE WOT Tn

PGRN sian2			Mahindra

KEYFY 20-21	HIGHLIGHTS
USDMn5,111Revenue	14.2%EBIT Margin	USD 2.21BnNet New Deal Wins	USDMn965Free Cash Flow
KEYFY21Q4	HIGHLIGHTS
USDMn1,330Revenue	16.5%EBIT Margin	USD1.04 BnNet New Deal Wins	USDMn187Free Cash Flow

		FY 20-21	KEY	HIGHLIGHTS
--	--	----------	-----	------------	--

Q4 FY21 KEY HIGHLIGHTS

USDMn1,330Revenue	16.5%EBIT Margin	USD	Net New Deal Wins	1.04 Bn	USD187Free Cash Flow	Mn
Revenue Growth (USD)		saiReported	cc	aReported	cc

Communications	1.4%	0.2%	-0.2%	-4.3%
Enterprise	1.8%	1.1%	4.7%	2.1%
Total Revenue	1.6%	0.7%	2.7%	-0.5%

USDMn1,330Revenue	USD	1.04 BnNet New Deal Wins		USDFree Cash Flow	Mn187
Revenue Growth (USD)	sai		a
	Reported	cc	Reported	cc
Communications	1.4%	0.2%	-0.2%	-4.3%
Enterprise	1.8%	1.1%	4.7%	2.1%
Total Revenue	1.6%	0.7%	2.7%	-0.5%

Communications	39.6%	39.7%	= 40.8%	1.4%) =	-0.2%
Manufacturing	16.3%	16.3%)	17.7%	1.9%	-5.2%
Technology,Media & Entertainment	9.3%)	9.4%	7.4%	0.5%	27.8%
Banking,Financial services & Insurance	16.5%	16.0%	15.3%	4.9%	10.3%
Retail, Transport & Logistics	75%	7.9%	7.3%)	-3.2%	6.2%
Others	10.8%)	10.8%	11.5%	1.6%	-3.4%
Revenue by Geography %	Q4FY21	Q3FY21	Q4FY20
Americas	45.5%]	46.8%)	47.7%	-1.3%	—--2.1%
Europe	26.5%	26.4%)	26.5%	2.0%	2.7%
Rest of world	28.0%	26.8%)	25.8%)	6.2%,	11.5%
ee eemeena	Q4FY21	Q3FY21	Q4FY20
Onsite	63%	63%	65%
Offshore	37%	37%	35%

Americas	45.5%]	46.8%)	47.7%	-1.3%	—--2.1%
Europe	26.5%	26.4%)	26.5%	2.0%	2.7%
Rest of world	28.0%	26.8%)	25.8%)	6.2%,	11.5%

ee eemeena	Q4FY21	Q3FY21	Q4FY20
Onsite	63%	63%	65%
Offshore	37%	37%	35%

RTECS TAR PATER CrI me eC ITAhy

FACT SHEE] @ @®@

		Q4FY21	Q3FY21	Q4FY20
Communications		518	104	174
Enterprise	a	525	352	339
Total			ee ass)	1

No. of Active Clients & % of Repeat Business	Q4FY21	Q3FY21	Q4FY20
No. of Active Clients	1,007	997	973
% of Repeat Business	92%	94%	86%

% of Repeat Business	92%	94%	86%
No. of Million $ Clients	Q4FY21	Q3FY21	Q4FY20
	451	454	446
= $1 million clients> $5 million clients	169	162	160
	85	83	85
> $10 million clients	50	50	49
= $20 million clients	21	21	22
> $50 million clients




(As at period-end)Total Headcount	Q4FY21	Q3FY21	Q4 FY20




	Q4FY21	Q3FY21	Q4FY20
Attrition & Utilization	13%	12%	19%
IT Attrition % (LTM) #	87%.	87%	83%
IT Utilization % #	87%)	87%	84%
IT Utilization % (Excluding Trainees) #
# Metrics for Organic business2


22%	21%	3.6%	6.7%
31%	31%	3.0%	2.7%
	44%)		1.9%

31%43%	42%		3.5%

Top 20	43%	42%	44%)	3.5%	1.9%
(As at period-end)Total Headcount	Q4FY21	Q3FY21	Q4 FY20
Software professionals	68,427	68,734;	71,515]	-04%	4.3%
BPO professionals	46125)	46,832	46,816	-1.5%	-1.5%
Sales & support	6502	6335]	6,905	2.6%,	-5.8%
Total Headcount	424,054	121,901	125,236]	0.7%)	3.3%

Attrition & Utilization	Q4FY21	Q3FY21	Q4FY20
IT Attrition % (LTM) #	13%	12%	19%
IT Utilization % #	87%.	87%	83%
IT Utilization % (Excluding Trainees) #	87%)	87%	84%

Connected Worl HACE IITA

FACTSHEET @

Cash Flow	Q4FY21	Q3FY21	Q4FY20
Receivable Days (DSO)-Including Unbilled	92	95	112
Capital Expenditure (USD Mn)	20	46	27
Free Cash Flow (USD Mn)	187	226	175
Free Cash Flow to PAT %	126.6%	127.2%	160.3%
AFree cash Flowis as per Management Reporting

Cash & Borrowings (INR Mn)	Q4FY21	Q3FY21	Q4FY20
Borrowings **	16,928;	19,162	24,707
Cash and Cash Equivalent *	130,199}	118,775)	88,048

Cash & Borrowings (USD Mn)	Q4FY21	Q3FY21	Q4FY20
Borrowings **	232	262	327
Cash and Cash Equivalent *	1,781)	1,625;	1,164

				aNd
(i				-3.3%
73.18	73.74	73.05	-0.8%	0.2%
Q4FY21	Q3FY21	Q4FY20
	Q4FY21	Q3FY218673.07	Q4FY2075.62	QoQ0.1%

USD	50.2%!	50.9%	50.6%
GBP	11.8%}	11.4%,	11.6%
EUR	95%,	9.4%	8.8%
AUD	45%	= 4.2%	4.1%
Others	23.9%,	24.1%	24.9%

Borrowings *Cash and Cash Equivalent	16,928; 130,199}	118,775)	88,048

Cash & Borrowings (USD Mn)	Q4FY21	Q3FY21	Q4FY20
Borrowings **	232	262	327
Cash and Cash Equivalent *	1,781)	1,625;	1,164
* Cash & Cash Equivalent includes Investments & Margin Money
** Borrowings exclude lease obligation on right-of-use (ROU) assets, created as per Ind AS 116 new accounting standard on leases					aNd
WT o Reet	Q4FY21	Q3FY21	Q4FY20	QoQ	-3.3%
Period closing rate	(i	8673.07	75.62	0.1%
Period average Rate	73.18	73.74	73.05	-0.8%	0.2%

Currencies% of Revenues From Major	Q4FY21	Q3FY21	Q4FY20
USD	50.2%!	50.9%	50.6%
GBP	11.8%}	11.4%,	11.6%
EUR	95%,	9.4%	8.8%
AUD	45%	= 4.2%	4.1%
Others	23.9%,	24.1%	24.9%

Hedge Book	Q4FY21	Q3FY21	Q4FY20
GBP In Mn	251.0	266.0	304.0
Strike rate (INR)	102.7]	101.8	100.1
USD In Mn	1,328.0,	1,444.0}	1,611.0
Strike rate (INR)	79.3	78.8	76.8
EUR In Mn	Peete	8=6—. 325.0	378.0
Strike rate (INR)	93.0,	919)	897

3
					NTA

FACT SHEE] @ @

mn ei	Q4FY21	Q3FY21	Q4FY20	QoQ	Ney
Revenue From Operations	97,299	96,471,	94,902	0.9%	25%
Costofservices	64,497	64,708)	66,896	-0.3%	-3.6%
Gross Profit	32,802	31,763,	28,006)	3.3%	17.1%
SGA	13,321	12,808)	14,528	4.0%	8.3%
EBIDTA	49,481)	18,955	13,478	—2.8%	44.5%
EBIDTA %	20. 0%)	49.6%	14.2%	04%	5.8%
Depreciation & Amortization	3,444	3,584	3,982	-3.9%	-13.5%
7:EBIT	16,037	15,371	9,496	4.3%	68.9%
EBIT %	165%	159%	10.0%,	05%	65%
	507	-	2,175		-76.7%
Impairment of Goodwill and non current assets	326!	2,209	2,852	-85.2%	-88.6%
Other income	(628)	1,102	73	-157.0%	-959.9%
Foreign Exchange (loss)/ gain	954	1,107	2,779	-13.8%	-65.7%
Interest, Dividend & Misc. incomeInterest expense	417	421	532	-1.0%	-21.7%
	2)	5	15	-60.0%	-86.3%
Share of profit /(loss) from associate
Profit Before Tax	441 ae	17,164	9,656	10.0%	59.9%
——Provision for taxes		aes	302	"47.2%	108.9%43.8%
Profit After Tax	10,443	12,901,	7,264	-19.1%
eeMinority interest	371 ]	197	775		88.3% 52.1%
Net Profi t after tax (After Minority Interest)	40,814	13, 098	8,03 039 8.5%	-17.4% — -2.5%	34.5% 35 :2.6%
'Net PAT %	11.1%	13.6%
EPS (In Rs)			9.21	-17.4%	34.3%
Basic	1237	14.98gy]	0 9.44	17.6%]	«34.1%
Diluted	wees
Notes:
1. Figures rounded off to the nearest million.
2. Previous period figures have been regrouped/rearranged wherever necessary.

Notes:

Connected Worl PATNA TC:

FACT SHEET @

P&L in USD Mn	Q4 FY21	Q3 FY21	Q4 FY20	QoQ	YoY
Revenue From Operations	1,329.6	1,308.7	1,294.6	1.6%	2.7%
Cost of services	881.4	877.7	914.1	0.4%	$-3.6%$
Gross Profit	448.2	430.9	380.4	4.0%	17.8%
SGA	182.1	173.8	197.7	4.8%	$-7.9%$
EBIDTA	266.1	257.2	182.7	3.5%	45.6%
EBIDTA %	20.0%	19.6%	14.2%	0.4%	5.8%
Depreciation & Amortization	47.1	48.6	54.5	$-3.2%$	$-13.7%$
EBIT	219.0	208.6	128.2	5.0%	70.8%
EBIT %	16.5%	15.9%	10.0%	0.5%	6.5%
Impairment of Goodwill and non current assets	6.9		28.8		$-75.9%$
Other income	4.4	29.9	38.3	$-85.2%$	$-88.4%$
Foreign Exchange (loss)/ gain	(8.6)	14.9	0.9	$-157.8%$	$-1057.9%$
Interest, Dividend & Misc. income	13.0	15.0	37.4	$-13.0%$	$-65.1%$
	5.7	5.7	7.2	$-0.1%$	$-21.2%$
Interest expenseShare of profit /(loss) from associate	0.0	0.1	0.2	$-60.0%$	$-85.8%$
Profit Before Tax	210.8	232.8	130.7	$-9.4%$	61.4%
Provision for taxes	68.3	57.8	32.4	18.1%	110.8%
Profit After Tax	142.6	175.0	98.3	$-18.5%$	45.1%
Minority Interest	5.1	2.7	10.7	90.3%	$-52.4%$
Net Profit after tax (After Minority Interest)	147.7	177.7	109.0	$-16.9%$	35.5%
Net PAT%	11.1%	13.6%	8.5%	$-2.5%$	2.6%
EPS (In USD)
Basic	0.17	0.20	0.13	$-16.8%$	34.1%
Diluted	0.17	0.20	0.13	$-16.9%$	33.8%
Notes:
1. Figures rounded off to the nearest million.
2. Previous period figures have been regrouped/rearranged wherever necessary.
3. USD numbers based on convenience translation		CO O
5
Copyright @ 2020 Tech Mahindra. All rights reserved.					Connected WorlConnected Experience

Notes:

eels

Mahindra

FACT SHEET

YoYFY 20FY 21P&L in INR Mn2.7%368,677378,551Revenue From Operations$-0.5%$259,743258,555Cost of services10.2%108,934119,996Gross Profit$-0.3%$51,67351,526SGA19.6%57,26168,470EBIDTA2.6%15.5%18.1%EBIDTA %0.8%14,45814,577Depreciation & Amortization25.9%42,80353,893EBIT2.6%11.6%14.2%EBIT %$-76.7%$2,175507Impairment of Goodwill and non current assets$-34.0%$11,9247,871Other income$-67.7%$3,022975Foreign Exchange (loss)/ gain$-22.5%$8,9026,896Interest, Dividend & Misc. income$-9.3%$1,9191,740Interest expense$-121.7%$(55)12Share of profit /(loss) from associate17.7%50,57859,529Profit Before Tax37.9%11,60415,999Provision for taxes11.7%38,97443,530Profit After Tax$-44.7%$1,356750Minority Interest9.8%40,33044,280Net Profit after tax (After Minority Interest)0.8%10.9%11.7%Net PAT %EPS (In Rs)9.6%46.2150.64Basic9.5%45.8550.19DilutedNotes:1. Figures rounded off to the nearest million.2. Previous period figures have been regrouped/rearranged wherever necessary.5۵




























6

Notes:

FACTSHEET @ @

P&Lin USD Mn	ah ea	FY20
Revenue From Operations	5,111.1	5,181.9
Costof services	3,489.8	3,653.4
Gross Profit	1,621.2	4,528.5
SGA	695.6	129.1	-4.1%
EBIDTA	925.6	803.4	15.2%
EBIDTA %	18.1%	15.5%	2.6%
Depreciation & Amortization	196.7.	203.3	-3.3%
EBIT	729.0	600.1	21.5%
EBIT %	14.2%	11.6%	2.6%
Impairment of Goodwill and non current assets	6.9	28.8	-75.9%
Other income	105.0	167.4	-37.3%
Foreign Exchange (loss)/ gain	12.6	42.7	-70.4%
Interest, Dividend & Misc. income	92.4	124.7	-25.9%
Interest expense	23.4	26.9	-12.9%
Share of profit /(loss) from associate	0.2	(0.8)	-119.9%
Profit Before Tax	803.8	741.4
Provision for taxes	216.2	163.2
Profit After Tax	"587.6	547.9
'Minority interest	40.2]	18.9
Net Profit after tax (After Minority Interest) a	597.8	566.8
NetPAT%	11.7%	10.9%
EPS (In USD)
Basic	0.68
Diluted	0.68
Notes:
1. Figures rounded off to the nearest million.
2. Previous period figures have been regrouped/rearranged wherever necessary.
3. USD numbers based on convenience translation
7

Notes:

MI THEIMS TCT:

Profit after tax for the quarter at Rs. 10,814 Million up 34.5% over previous year

Tech Mahindra Limited

Registered Office : Gateway Building, Apollo Bunder, Mumbai 400 001. Website : www.techmahindra.com Email : [email protected] CIN : L64200MH1986PLC041370

Extract of Consolidated Audited Financial Results of Tech Mahindra Limited and its subsidiaries for the quarter and year ended March 31, 2021

		Rs. in Million except Earnings per share
Particulars	Quarter ended	Year ended March	Quarter ended
	March 31, 2021	31, 2021	March 31, 2020
1 Total Revenue from Operations (Net)	97,299	378,551	94,902
2 Net Profit before Tax	15,441	59,529	9,656
3 Net Profit for the period after Tax (Share of the Owners of the Company)	10,814	44,280	8,039
4Total Comprehensive Income for the Period (comprising Profit for the period after Tax and	12,066	47,767	6,592
Other Comprehensive Income after Tax)
5 Equity Share Capital	4,370	4,370	4,359
6Total Reserves		244,280
7Earnings Per Equity Share (Rs.)
- Basic	12.37	50.64	9.21
- Diluted	12.26	50.19	9.14

Additional information on standalone financial results is as follows:			Rs.in Million
Particulars	Quarter ended	Year ended March	Quarter ended
	March 31, 2021	31, 2021	March 31, 2020
Revenue from Operations	75,068	296,409	75,719
Profit before Tax	15,273	55,266	15,175
Profit after Tax	11,678	42,391	13,918

Notes :

1 The above is an extract of the detailed format of the Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2021, filed with the Stock Exchanges under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2021 are available on the Stock Exchange websites. (www.nseindia.com/www.bseindia.com) and the Company's website at the web-link: https://www.techmahindra.com/en-in/investors/
2 These results have been prepared on the basis of the consolidated audited financial statements for the year ended March 31, 2021 and the consolidated audited condensed interim financial results upto the end of the third quarter, which are prepared in accordance with the Ind AS notified under the Companies (Indian Accounting Standards) Rules 2015. The quarterly and yearly financial results have been reviewed by the Audit Committee and have been approved and taken on record by the Board of Directors in its meeting held on April 26, 2021.
3 The Board of Directors has recommended a final dividend of Rs. 15 per equity share on face value of Rs. 5 each (300%) & special dividend of Rs. 15 per equity share on face value of Rs. 5 each (300%).

4 The Company based on its annual impairment assessment of the goodwill outstanding in the books of accounts and the underlying cash generating unit ('CGU') to which the goodwill is allocated, assessed the recoverable amount of certain CGUs to be lower than their carrying value. Consequently, the Company has recognized an impairment of Rs 507 Million in the statement of profit and loss for the year ended March 31, 2021 (year ended March 31, 2020: Rs. 2,175 Million).
5 The Auditors have issued an unqualified opinion on the Standalone and Consolidated Financial Results and have invited attention to certain matters (Emphasis of Matters). The Emphasis of Matters are on account of the financial irregularities committed by the promoters of erstwhile Satyam Computer Services Limited (SCSL) before it was acquired by the Company and certain other related matters. SCSL was amalgamated with the Company in June 2013. The Emphasis of Matters and the Management Response on the same are available as part of the detailed Regulation 33 formats posted on the Stock Exchange websites (www.nseindia.com/www.bseindia.com) and the Company's website (www.techmahindra.com).

Date : April 26, 2021 Place : Mumbai

C. P. Gurnani Managing Director & CEO

AI assistant

Tech Mahindra — Annual Report 2021

35662_rns_2021-04-26_6c7e7fe3-bfb4-43a0-898a-ca3bbfdd0e9d.pdf

Tech 7 Mahindra ei ileal Lint

Pune 411004, Maharashtra, India

Sub: Outcome of Board Meeting held on 26" April, 2021

Email : [email protected]. CIN : L64200MH1986PLC041370 Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Primary Segments

Segmental Capital Employed

Email : [email protected]. CIN : L64200MH1986PLC041370 Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

Notes :

4 Certain matters relating to erstwhile Satyam Computer Services Limited (erstwhile Satyam): Proceedings in relation to 'Alleged Advances':

5 Satyam Venture Engineering Services Private Limited (SVES)

Accounting for sales commission

Adoption of Financial statements

Consolidated Audited Financial Results for the quarter and year ended March 31, 2021

15 Emphasis of Matters

The Emphasis of Matters in the Auditor's Report pertains to the following:

16 Management response to Emphasis of Matters:

Tech Mahindra FY21 Revenues up 2.7%

FY21 EBITDA margins at 18.1%

Board Recommends dividend of € 30 per share

Financial highlights for the Year (USD)

Financial highlights for the year (2)

Financial highlights for the quarter (USD)

Financial highlights for the quarter (%)

Other Highlights

CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,

Milind Kulkarni, Chief Financial Officer, Tech Mahindra, said,

Vivek Agarwal, President — BFSI, HLS and Corporate Development, said,

Cohan dar)

Business Highlights

Awards and Recognitions

About Tech Mahindra

Connect with us on www.techmahindra.com

Kavya Bagga Kanika Vats

Kaustubh Vaidya Abhilasha Gupta

Disclaimer

Q4 FY21 KEY HIGHLIGHTS

FACT SHEE] @ @®@

FACTSHEET @

FACT SHEE] @ @

Notes:

FACT SHEET @

Notes:

FACT SHEET

Notes:

FACTSHEET @ @

Notes:

Profit after tax for the quarter at Rs. 10,814 Million up 34.5% over previous year

More from Tech Mahindra

Tech Mahindra Annual Report 2021