Tech Mahindra Ltd (TECHM IN) - Profitability

In Millions of INR except Per Share FY 2005 FY 2006 FY 2007 FY 2008

12 Months Ending 03/31/2005 03/31/2006 03/31/2007 03/31/2008

Returns

Return on Common Equity -- 42.73 15.85 30.33

Return on Assets -- 27.92 9.34 17.28

Return on Capital -- -- 16.16 29.79

Return on Invested Capital -- 40.83 67.58 52.28

Margins

EBITDA Margin 14.37 22.89 25.38 22.37

Operating Margin 10.96 19.68 23.62 20.26

Incremental Operating Margin -- 47.25 26.51 8.51

Pretax Margin 11.83 21.14 5.52 10.73

Income before XO Margin 10.87 18.98 4.15 8.75

Net Income Margin 10.87 18.98 4.15 8.76

Net Income to Common Margin 10.87 18.98 4.15 8.76

Additional

Effective Tax Rate 8.14 10.21 24.78 18.51

Dvd Payout Ratio 21.80 44.16 21.90 20.25

Sustainable Growth Rate -- 23.86 12.38 24.19

Source: Bloomberg

FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015

03/31/2009 03/31/2010 03/31/2011 03/31/2012 03/31/2013 03/31/2014 03/31/2015

63.40 29.01 20.65 29.60 27.18 41.47 24.52

40.03 16.02 10.78 16.89 16.20 24.30 14.68

62.52 27.72 16.45 24.36 22.85 37.25 23.52

63.21 27.00 16.71 15.57 17.68 35.27 21.71

29.36 25.16 19.98 17.99 21.14 22.34 18.60

26.91 22.27 17.05 15.06 18.23 19.57 15.90

62.74 -- -- -- 30.82 20.34 --

25.37 18.32 15.13 22.64 22.45 20.26 15.99

22.72 15.20 12.57 20.02 19.02 16.26 11.75

22.72 15.14 12.53 19.96 18.74 16.08 11.62

22.72 15.14 12.53 19.96 18.74 16.08 11.62

10.41 17.00 16.92 11.56 15.26 19.72 26.52

4.81 6.11 7.82 4.66 4.98 15.42 21.94

60.35 27.24 19.04 28.22 25.83 35.08 19.14