Mastek came out with its Q3 earnings. To understand the company’s performance and its outlook, CNBC-TV18 spoke to Hiral Chandrana, Global CEO, Mastek.
On its Q3 performance, Chandrana shared that the company’s revenue growth is at 24.6 percent on a year-on-year (YoY) basis.
He said, “We are pleased with the progress and optimistic about the future. Our overall year on year (YoY) growth is still sitting at a healthy 24.6 percent and if you take a look at 9 months for this fiscal year, compared to the 9 months in the previous fiscal year, we grew up about 29 percent YoY. So from that perspective, the EBITDA margins have healthy, the deal momentum has been strong.”
According to him, Mastek will be back to industry-leading growth both on a QoQ as well as a YoY basis. “Going forward, we feel we will be back at industry-leading and matching numbers when it comes to revenue growth on a quarter-on-quarter (QoQ) as well as year-on-year (YoY) basis,” Chandrana said.
On orders, Chandrana affirmed that the deal momentum pipeline is looking optimistic. He explained that the company has won an order worth $60 million from NHS recently. Apart from this, the company also won two more significant orders from NHS in the last 2-3 weeks.
He said, “The two deals that we have won in addition to USD 60 million deal, I cannot share the value of one of them, the value of NHS Pathways is roughly about USD 15 million.”
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On overseas markets like the US, he expects it to contribute 30-33 percent to the company’s revenue in the next 3 years. Additionally, he explained that the account mining strategy is working well over there. He added that Mastek’s next couple of acquisitions will primarily be US-centric. In fact, around 50 assets have already been scanned for this purpose, Chandrana shared.
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He said, “We do have some aggressive merger and acquisition (M&A) plans coming up over the next few quarters. We have scanned roughly about 50 assets. We have been very careful about it, but we are making progress on that and had shared data on that before. Cloud platform, data automation and CX are the three areas we are focused on from an M&A perspective and its most likely going to be in the US market, at least for the next couple of acquisitions that we do.”
For the entire interview, watch the accompanying video
(Edited by : Dipikka Ghosh)
First Published:Jan 21, 2022 12:22 PM IST