Business

Mahindra Tech To Focus On Company Integration -By ASC


Over the past 18 months, Tech Mahindra has committed $ 955 million to acquire 10 companies.

Mumbai:

Having committed over $ 955 million (around Rs 7,353 crore) to acquire 10 companies in the past, Tech Mahindra will be less of an acquisition in the new fiscal year and focus on their integration, a senior company official said.

Mahindra Group companies, with revenue of nearly $ 6 billion in FY22, will see acquisitions in an opportunistic way in the new year, chief strategist Jagdish Mitra told PTI.

“The focus will be on setting up systems to leverage synergies and looking at how the acquired company can help create a larger portfolio,” he said, adding that acquisitions need to be done to drive key business.

Over the past 18 months, the company has committed $ 955 million to acquire 10 companies in various transaction sizes around the world, primarily with the goal of mastering technology, people or revenue streams, to be one of the most active in the merger. and acquisition at the forefront among peers.

Its appointed chief financial officer Rohit Anand said procurement -related charges reduced 1 per cent of its operating profit margin as amortization -related charges had to be taken into account.

In the new fiscal year, the company will focus on widening operating profit margins, said Anand, who took over the mantle from June 1, adding that the aspiration is to take operating profit margins in the 14-15 percent group from 13.2 percent.

The company has a lever that will be used to widen profit margins and grow them sequentially each quarter, Anand said, listing the path.

He said the company would look to make an offer that would increase its price, reap benefits in terms of consumption as more juniors hired in the past were recently employed in projects, going out of business as linked to the government where it faced issues cash flows and releases from investments made earlier including in companies or geographies in Africa that perform at sub -optimal levels.

Mitra said the firm would also continue to look for new centers in rural India to act as delivery centers, adding to the 15 such facilities that had opened in FY22 with the target of reducing high declines amid greater demand for talent.

The destination of choice will be based on the availability of talent and other aspects, Mitra said, adding that the potential centers being considered now are across all zones of the country.

Tech Mahindra’s script traded 1.55 percent up at 1,205.95 on the BSE, compared to a 1.76 percent gain on the benchmark.

Agrasmartcity

Welcome to India's Largest news platform, I assure you that we daily update on Global news which helps you to grow your knowledge.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
AllEscortAllEscort