TECHMNSE17 January 2025

Tech Mahindra Limited has informed the Exchange about Investor Presentation

Tech Mahindra Limited

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TECH rnal,indra

17th January, 2025

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Scrip Code: 532755

Tech Mahindra Limited

Sharda Centre, Off Karve Road, Pune - 411004, Maharashtra, India

Tel. +91 20 6601 8100

techmahindra.com connect@techmahindra.com

CIN L64200MH1986PLCO41370

National Stock Exchange of India Limited Exchange Plaza, 5th floor, Plot No. - C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 NSE Symbol: TECHM

Sub.: Outcome of Board Meeting of the Company - Disclosure under Regulations 30, 33 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and Integrated Filing (Financials) for the quarter and nine-months ended December 31, 2024

Ref.: Intimation of Board meeting dated 31st December, 2024

Dear Sir/Madam,

In compliance with Regulations 30, 33, 47 read with para-A of Part A of Schedule III and other applicable provisions of the SEBI Listing Regulations, we wish to inform you that the Board of Directors of the Company have at their Meeting held today, Friday, 17th January, 2025 inter-alia, approved the Audited Consolidated and Standalone Financial Results of the Company for the third quarter and nine months ended 31st December, 2024 together with the unmodified Audit Reports thereon;

In this regard, please find enclosed the following documents prepared in compliance with the SEBI Listing Regulations:

a. Audited Consolidated and Standalone Financial Results for the third quarter and nine months ended 31st December, 2024 and notes thereon together with the Unmodified Audit Reports on the said Results issued by the Company’s Statutory Auditor;

b. Press Release on the said Financial Results;

c. Fact Sheet giving certain financial and operational parameters;

Investor Presentation;

The Board meeting was held on 16th and 17th January, 2025.

Regd. office: Gateway Building, Apollo Sunder, Mumbai 400 001, India Tel: +91 22 22021031

The Board meeting on 17th January, 2025, commenced at 11.45 a.m. (IST) and concluded at 3.32 pm (IST).

This intimation shall also be considered for Integrated Filing (Financial) for the quarter and nine-months ended 31st December, 2024 pursuant to the SEBI (Listing Obligations and Disclosure Requirements)(Third Amendment) Regulations, 2024 read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated 31st December, 2024, read with BSE Circular No. 20250102-4 and NSE Circular No. NSE/CML/2025/02 dated 2nd January, 2025.

A. B.

C. D. E.

Financial Results – Enclosed Statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. – Not Applicable Disclosure of outstanding default on loans and debt securities- Not Applicable Format for disclosure of related party transactions – Not Applicable Statement on impact of audit qualifications (for audit report with modified opinion) submitted along-with annual audited financial results (standalone and consolidated separately) – Not Applicable

This intimation and aforesaid information are also being uploaded on the Company’s website at https://www.techmahindra.com/investors/

Kindly take the above on record.

Thanking you

For Tech Mahindra Limited

Ruchie Khanna Company Secretary

Enclosures: As above

PAGE 1

Scale at Sf1=B e d

TECH mal,indra

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Earnings Presentation Q3 FY’25

December 2024

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Q3 FY25 Snapshot

TECH mal,indra

$ 1,567 Mn Revenue

7.4% PAT Margin

$ 199 Mn Free Cash flow

10.2% EBIT Margin

$ 745 Mn Net New Deal Wins

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Q3 FY25 Snapshot All trends are YoY, except where specified

TECH mal,indra

FINANCIAL

OPERATIONAL

SEGMENT

GEOGRAPHY

♦

Revenue -0.4%

♦

(up 1.3% cc)

EBIT % 10.2% (up 480 bps)

PAT % 7.4% (up 350 bps)

Headcount 150,488 ( up 4,238)

IT LTM attrition 11.2% (up 90 bps)

Utilization (incl. trainees) 85.6% (down 200 bps)

Active Customers 1,175 (down by 53)

IT -1.0% (up 0.8% cc)

♦

BPS 2.9% (up 3.7% cc)

Americas -2.3% ( down 1.8% cc)

♦

Europe -1.0%

♦

(up 2.6% cc)

ROW 4.5% (up 6.9% cc)

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CC refers to Constant Currency

Q3 FY25 Snapshot All trends are QoQ, except where specified

TECH mal,indra

FINANCIAL

OPERATIONAL

SEGMENT

GEOGRAPHY

Revenue -1.3%

♦

(1.2% cc)

EBIT % 10.2% (up 60 bps)

PAT % 7.4% (down 200 bps)

Operating PAT up 80 bps*

Headcount 150,488 (down 3,785)

IT LTM attrition 11.2% (up 60 bps)

Utilization (incl. trainees) 85.6% (down 70 bps)

Active Customers 1,175 (down by 3)

IT -1.0% (up 1.6% cc)

♦ ♦

BPS -3.3% (down 1.2% cc)

Americas -1.8% ( down 1.3% cc)

♦

Europe -3.0%

♦

(up 3.3% cc)

ROW 1.3% (up 4.2% cc)

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*Operational PAT – excludes exceptional item of land sale proceeds in Q2’25 CC refers to Constant Currency

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Vertical Performance Q3 FY25

TECH mal,indra

VERTICALS

Communications Manufacturing

Banking, Financial Services & Insurance

Technology, Media & Entertainment

Retail, Transport & Logistics

Healthcare & Lifesciences

Others

% SHARE

32.5%

16.8%

16.1%

14.3%

8.0%

7.7%

4.6%

% YoY

-5.6%

-7.2%

%YoY CC

-2.4%

-6.5%

8.3%

9.5%

3.5%

-1.6%

2.0%

3.9%

-0.6%

2.7%

32.5%

35.1%

% QoQ

-4.0%

-3.7%

0.4%

-1.5%

-0.3%

2.2%

15.8%

% QoQ CC

0.4%

-2.5%

2.7%

-0.9%

1.1%

4.5%

19.5%

% YTD

-5.9%

-0.2%

3.7%

0.8%

2.5%

4.2%

17.4%

Vertical-wise growth is being reported on constant currency because of steeper cross-currency movements during the quarter

Management Commentary

TECH mal,indra

“We see an improved rate of deal wins in our key verticals and priortised markets. This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals.”

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Mohit Joshi CEO, Tech Mahindra

Deal-Win Performance Total TCV Q3 FY25: $ 745 Mn

TECH mal,indra

Won a new logo with one of the largest telecom operator in Europe, being a strategic partner, focused on delivering consolidation and accelerated transformation of the key domains of their Digital, IT and Network ecosystem.

Selected by a large German Telco to support their technology domains across Network, IT, and Service Operations, driving autonomous operations using GenAI.

Selected by a global leading Hi-Tech and Mobile company for end-to-end data services, for their key flagship consumer and enterprise product, helping them gain a competitive edge and deliver an immersive experience differentiated by AI.

Won a managed services deal from a leading global auto-maker for supporting their IT landscape covering every aspect of their business operations by leveraging our ADMS and Cloud & Infra Services capabilities.

Awarded a global managed Network as a Service (NaaS) deal by a Europe based one of the largest chemical producers globally.

Selected by a large Telco in Canada to provide frontline Customer Experience services by leveraging TechM’s BPS capabilities.

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Strategic Highlights: AI

Solution Launches and Updates

TECH mal,indra

Tech Mahindra Launches agentX, a Comprehensive Suite of GenAI Solutions to Drive Efficiency for Enterprises Globally

Launch of agentX Tech Mahindra launched agentX, a Comprehensive Suite of GenAI Solutions to Drive Efficiency for Enterprises Globally

10+ Recognitions from the Industry, Media, and Analysts

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Launch of Indus 2.0 at NVIDIA AI Summit TechM announced AI Center of Excellence, Powered by NVIDIA AI Enterprise and Omniverse Platforms

Established Gen AI COE Partnered with a global leader in industrial manufacturing to establish a Gen AI COE and define a Gen AI strategy across its various business groups and global divisions

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Cllffl I RESEARCH

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GenAI, Trust, And Your Services Partner

Best Practice Report GenAI, Trust, And Your Services Partner by Forrester

Our GenAI expertise reflects in our client engagements

273+ Qualified AI & IA opportunities

40% Gen AI opportunities

50,000+ Talent enabled on AI/Gen AI

Partnering with Hyperscalers and OEMs

• Achieved AI Advanced Specialisation in Microsoft Azure • Co-innovating and co-creation with Hyper-scalers & SaaS providers

Strategic Highlights: Brand Awareness & Perception

Nitesh Aggarwal U:, • 2nd He ping Tech Mah"ndra Sea e@ Speed I CMf Strategy ... ld • ®

+ follow

•••

Well, we had a role to play in the #event that had evef)'one go #bananas!!

Congrats James Graves, Sunil Karie.era and the BORN!

!1 Sunil Karicera • 3rd+ ~ CEO, BORN, Part of Tech Mahindra.

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A very talented banana, some outstanding duct tape, and serious photography talent Kudos to team James Graves at BORN for making this historic moment in art j'.X)ssible. Tru ly iconic! ... more

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Born’s banana art to Pininfarina’s design, making waves around the world

, nlockJn9Giobo1 ~~nce.

Saha bat-Al

Sahabat AI Makers Lab’s Indus 2.0 journey kicked off in partnership with NVIDIA & Indosat

Tech Mahtndra

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Tech Mahindra wasp ea~ to tl OS! ti'le HFS Rrscarch team - Nandini Tare and Anush1C1 Mu~rJe-t at U"t s.a.-oa CYe E t<tror- c C ':j crpus

MantkantAn NS, our G ooa l rte~ - MM!ufKUring a 0t1g v,, tn otf'er taCltn prov.ded :tie t nalyr..s w •ft ari n,depth ool( rto 0.1 cflP,llb • es and ,t't!0\'1~ '¥e so _,:_ens trat ~ab e 1'ScaleAtSpttd, Tr-e v,s t tea:..reo v.a 1e:t-rou;hs c~ tl"t Exte"'dtd A.ta ty Lio Factory of Ul-t futJre Lao. arc AutomotJ ... e &per ef'!ce Ce e.

IICnow MO"e: https!//lnkd.,n/9S7Jv9E8

For the 9th consecutive year, Tech Mahindra was the presenting council at the CEO Council which brought together global leaders to explore the role of emerging technologies

Ranked #1 in India and #2 globally in the “TSV IT services” category of DJSI 2024

Gold Sponsor at The ET Global Capability Centers 2024 conclave

- ~J

CED

TECH mahindra

India's

lmpactful CEOsof2024 by ET NOW

Analyst Visit HFS

Other Highlights NEW LAUNCHES, PARTNERSHIPS & COLLABORATIONS

agentX

Empowering Businesses with Intelligent Al Solu tions

~ nVIDIA.

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TECH mal,indra

Tech Mahindra announced launch of

Tech Mahindra announced the

Tech Mahindra signed a multi-year

TechM agentX—a comprehensive suite

of GenAI-powered solutions designed to

establishment of a Center of Excellence (CoE) powered by NVIDIA platforms to

Strategic Collaboration Agreement

(SCA) with Amazon Web Services (AWS)

drive intelligent automation and

drive advancements in sovereign large

to develop an Autonomous Networks

enhance efficiency for enterprises

language model (LLM) frameworks,

Operations Platform (ANOP) designed

globally.

agentic AI, and physical AI.

for Communication Service Providers

Tech Mahindra has collaborated with

Universal Scientific Industrial (Shanghai), USI, to establish USI’s first Engineering Offshore Development

Center in India to accelerate innovation in smart device engineering.

•

Tech Mahindra announced integration with

(CSPs) and enterprise customers.

~ COLORTOKENS

Tech Mahindra and ColorTokens Inc.,

ServiceNow to drive enterprises into the GenAI era with One E2E Platform, an end-to-

advanced their partnership by launching "Breach Ready" microsegmentation

end enterprise service management solution,

solutions, built on ColorTokens'

enabling businesses to enhance operational

industry-leading microsegmentation

efficiency and competitiveness by integrating

platform, the solutions aim to enhance

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GenAI capabilities into their business-critical processes and modernizing infrastructure.

cybersecurity posture for global enterprises across industries.

ESG & People Highlights

STRENGTH & ATTRITION

000

AWARDS

TECH mal,indra

Employee strength

150,488

LTM attrition

11.2%

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– Received Bombardier’s Diamond Supplier certification for the third time, recognising TechM’s outstanding operational performance, dedication to upholding high-quality standards, and innovative aerospace engineering services offered to Bombardier facilities worldwide

– Recognised as “Trailblazer Supplier of the Year” at Cisco’s Annual

Supplier Day 2024, acknowledging TechM’s relentless pursuit of innovation and excellence in delivering cutting-edge solutions that empower Cisco to achieve its digital transformation goals in an evolving business landscape

– Recognised for the Best Mobile Banking App - under the vendor category by The Digital Banker Global Retail Banking Innovation Awards 2024

– Recognised amongst ‘Best Brands of 2024’ in India by ET NOW

– Recognised amongst ‘Progressive Places’ to Work 2024' by ET NOW

– Ranked #1 in India and #2 globally and included in DJSI World Index and

DJSI Emerging Markets for the tenth consecutive year

Analyst Recognitions

TECH mal,indra

–

Positioned as a Leader in Everest Group Quality Engineering (QE) Services for AI Applications and Systems PEAK Matrix® Assessment 2024.

Positioned as a Leader in Multi Public Cloud Services 2024-Consulting and Transformation Services — Midmarket-Nordics, Multi Public Cloud Services 2024-Managed Services — Midmarket-Nordics, Midmarket-U.K and Midmarket-U.S, Multi Public Cloud Services 2024- Consulting and Transformation Services — Midmarket-U.K, Midmarket-U.S by ISG.

Positioned as a Leader in Everest Group Experience-Driven Integrated BFS Operations PEAK Matrix® Assessment 2024.

Positioned as a Leader in Insurance Services 2024-Insurance ITO Services - Europe, Midmarket-Europe, Midmarket Next-Gen-Europe, Midmarket-North America and Midmarket Next-Gen-North America by ISG.

Positioned as a Market Leader in HFS Horizons: Healthcare Payer Service Providers, 2024 by HFS.

TechM BPS recognised by Quadrant Knowledge Solutions (QKS Group) as Leader in SPARK Matrix: BPO Supply Chain Management Services (SCMS), Q4, 2024.

Positioned as Leader in 'Telecom, Media and Entertainment Industry Services 2024' ISG Provider Lens™ Study (Intelligent Business Process Management (iBPM) Services - North America & EMEA).

Positioned as Leader in 'Power and Utilities - Services and Solutions 2024 ISG Provider Lens™ Study (iBPMS - APAC & NA and Customer Information Systems (CIS) & Customer Experience (CX) APAC).

Management Commentary

TECH mal,indra

“We delivered growth in EBIT margin and operating PAT, both on a sequential and

year-on-year basis, resulting from our targeted actions under Project Fortius, along

with steady increase in new deal wins, across prioritised verticals and markets. Our

continued focus on optimising working capital management has resulted in

generation of robust free cashflow.”

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Rohit Anand CFO, Tech Mahindra

Financial Snapshot Q3 FY25

TECH mal,indra

REVENUE ($ Mn)

GROSS PROFIT ($ Mn)

EBIT ($ Mn)

1,573

1,589

1,567

444

451

377

153

159

PAT ($ Mn)

149 / 105*

116

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

DILUTED EPS (Rs)

FCF ($ Mn)

CASH & EQUIVALENTS ($ Mn)

14.1

11.1

228

5.8

199

158

843

784

799

ROCE %

25.8% / 19.4%*

20.2%

11.5%

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

* Excludes exceptional item of land sale proceeds in Q2’25

Operational Snapshot Q3 FY25

TECH mal,indra

HEADCOUNT

UTILIZATION (including trainees)

IT ATTRITION (LTM)

HEADCOUNT MIX (Onsite)

146,250

154,273

150,488

87.6%

86.3%

85.6%

10.3%

10.6%

11.2%

26.1%

23.7%

22.7%

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

ACTIVE CLIENTS

TOP 10 CLIENTS

50 Mn+ CLIENTS

DSO

1,228

1,178

1,175

26.2%

24.9%

24.2%

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Q3'24

Q2'25

Q3'25

Other Financial Highlights

TECH mal,indra

~ j[ 0 0 ° 11

• • •

CASH CONVERSION

TREASURY

OTHERS

Free cash flow $199 M

DSO 88 days

Hedge book $ 2.1 Bn

Tax rate 23.8%

USD/INR average exchange rate 84.73

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Financial Summary Q3 FY25

TECH mal,indra

in $ Mn

Revenue

EBIT

EBIT %

Other Income

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Miscellaneous + Interest Income

Exchange Gain / (Loss)

Operational Profit Before Tax

Provision for tax

Operational Profit After Tax

PAT %

EPS (Basic) in Rs

EPS (Diluted) in Rs

Q3FY’25

QoQ

YoY

-1.3%

4.0%

-0.4%

88.1%

-96.9%

-81.8%

1.4%

87.2%

9.9%

88.5%

1,567

159

10.2%

(11)

153

116

7.4%

11.10

11.08

* Operational PBT & PAT – excludes exceptional item of land sale proceeds in Q2’25

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