Mastek Limited

Rs 765.5 crore

ust. Value. Velocity. Press Release | Q2FY24 For Immediate Release Q2FY24 revenue at Rs 765.5 crore, up by 22.4% Y-o-Y  Operating revenue up by 13.5% Y-o-Y in CC terms  12 months order backlog

22.4%

Press Release | Q2FY24 For Immediate Release Q2FY24 revenue at Rs 765.5 crore, up by 22.4% Y-o-Y  Operating revenue up by 13.5% Y-o-Y in CC terms  12 months order backlog grew by 22.3%

13.5%

Immediate Release Q2FY24 revenue at Rs 765.5 crore, up by 22.4% Y-o-Y  Operating revenue up by 13.5% Y-o-Y in CC terms  12 months order backlog grew by 22.3% Y-o-Y in rupee terms  BizAnalytica a

22.3%

22.4% Y-o-Y  Operating revenue up by 13.5% Y-o-Y in CC terms  12 months order backlog grew by 22.3% Y-o-Y in rupee terms  BizAnalytica acquisition completed in August 2023 Mumbai, India 19th Oct

19.8%

and demand for digital & cloud services. Our 12-month order backlog was US$ 224.2 mn, a growth of 19.8% Y-o-Y in dollar terms, with a robust Order Book from UK. Mastek was recognized by Everest Group as

Rs 766 crore

enerative AI space.” Arun Agarwal, Chief Financial Officer, Mastek, said: “We reported revenue of Rs 766 crore for the quarter, a growth of 4.4% on a Q-o-Q basis in constant currency driven by momentum in our

4.4%

Financial Officer, Mastek, said: “We reported revenue of Rs 766 crore for the quarter, a growth of 4.4% on a Q-o-Q basis in constant currency driven by momentum in our existing business and integration

16.1%

ere able to maintain a growth trajectory in order book. We delivered an operating EBITDA margin of 16.1% in Q2FY24 after incorporating salary hikes across the organization. We are cautious about prevaili

18.5%

in $mn Revenue from Operations Q1FY24 Q-o-Q Growth Q2FY23 Y-o-Y Growth $88.1 Q2FY24 $92.6 18.5% $78.1 5.1% Figures in Rs Crore Total Income Revenue from Operations Q2FY24 770.4 765.5

5.1%

from Operations Q1FY24 Q-o-Q Growth Q2FY23 Y-o-Y Growth $88.1 Q2FY24 $92.6 18.5% $78.1 5.1% Figures in Rs Crore Total Income Revenue from Operations Q2FY24 770.4 765.5 Q1FY24 Q-o-Q

8.5%

erating EBITDA % of Op. Income Net Profit Net Profit % EPS (Rs) – Diluted 123.0 16.1% 65.3 8.5% 20.3 127.0 17.5% 73.5 10.1% 22.7 5.9% 5.6% 4.4% (CC) (3.1%) (144bps) (11.2%) (163bps

17.5%

Op. Income Net Profit Net Profit % EPS (Rs) – Diluted 123.0 16.1% 65.3 8.5% 20.3 127.0 17.5% 73.5 10.1% 22.7 5.9% 5.6% 4.4% (CC) (3.1%) (144bps) (11.2%) (163bps) 21.9% 22.4% 13.

“This project will position Mastek well for additional project based SOW’s as the need arises.”

Note

2

Presented by

1

Note

1. BizAnalytica integrated from August 2023. Revenue consolidated during the quarter was Rs 20.8 Crore ($2.5mn). 2. Adjusted PAT for Q2FY24 was 10.2% vs 11.0% in Q1FY24, if normalized for Purchase Price Allocation (PPA) amortization from MST and BizAnalytica acquisition, fair valuation of earn out and one time acquisition cost Figures in Rs Crores Total Income Revenue from Operations Operating EBITDA % of Op. Income Net Profit Net Profit % EPS (Rs) – Diluted ^Includes profit on sale of investment property partially offset by expense relating to business combination of MST consummated during the period Y-o-Y Growth 22.0% 24.7% 15.4% (135)bps (18.6%) (462)bps H1FY23 1,228.2 1,195.6 216.6 18.1% 170.6^ 13.9%^ 51.0 H1FY24 1,498.0 1,490.8 250.0 16.8% 138.8 9.3% 43.0 Operating Highlights  New accounts added during the quarter: The Company added 29 new clients in Q2FY24. Total active clients during Q2FY24 was 441 as compared to 436 in Q1FY24.  12 months Order Backlog: 12 months order backlog

Presented by

Hiral Chandrana | Chief Executive Officer, Mastek Arun Agarwal | Chief Financial Officer, Mastek Table of Contents 01 02 03 04 05 Highlights of the Quarter Financial & Operational Performance Key Wins for the Quarter Acquisition Update Strategic Priorities Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 2 HIGHLIGHTS OF THE QUARTER HIGHLIGHTS OF Q2FY24 Revenue Growth Year-on-Year 22.4% Op. EBITDA Growth Year-on-Year 14.6% 12month Order backlog Year-on-Year Growth (CC*) 13.4% Q2FY24 revenue at ₹ 765.5 Crore Revenue grew by 5.6% QoQ Q2FY24 Op. EBITDA ₹ 123.0 Crore Op. EBITDA margin 16.1% 12 Months Order backlog at ₹ 1,861.8 Crore 12 months order backlog grew by 22.3% YoY BizAnalytica, expert in Data Cloud & Modernization integrated in August 2023 BizAnalytica integrated from August 2023. Revenue consolidated during the quarter was ₹ 20.8 Crore ($2.5mn) *CC: Constant Currency Investor Presentation | Earning Deck Company Confidential © Mastek 2

Note

# Financial Services includes consultancy/ professional services Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 15 OPERATIONAL PERFORMANCE Revenue By Service Line Q2FY24 – Consolidated Q2FY24 43.5% 30.5% 18.5% 7.5% Digital & Application Engineering Oracle Cloud & Enterprise Apps Q1FY24 44.8% 32.2% 18.3% 4.7% Digital Commerce & Experience Data, Automation and AI Q2FY23 42.2% 32.2% 19.5% 6.1% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Investor Presentation | Earning Deck Company Confidential © Mastek 2023. All rights reserved | 16 KEY WINS FOR THE QUARTER KEY WINS FOR THE QUARTER UK & Europe UK & Europe Americas AMEA Government & Financial Services Client The Organization is part of the Cabinet Office in the UK, that helps make digital government simpler, clearer and faster for everyone, serving 13 million people a week. The Customer is responsible for managing and promoting Scotland's national forest estate - predominantly covered in fore