Mphasis Ltd.

Financial

	Mphasis	L&T Technology Serv.	Coforge
Operational Metrics
IT
Net Sales by Employee Cost	1.79 .	1.9 .	1.67 .
Constant Currency Growth - YoY	4.6 %	8.7 %	1.7 %
Constant Currency growth (YoY) - Direct core	5.1 %	n/a	n/a
Constant Currency growth (YoY) - DXC/HP	-48.7 %	n/a	n/a
Financials
5 yr Average ROE	19.58 %	24.69 %	21.2 %
5yr average Equity Multiplier	1.48	1.58	1.95
5yr Average Asset Turnover Ratio	1.08	1.14	1.14
5yr Avg Net Profit Margin	12.29 %	13.71 %	9.63 %
Price to Book	5.22	8.22	7.76
P/E	27.45	35.63	59.93
5yr Avg Cash Conversion Cycle	67.98 Days	82.04 Days	67.94 Days
Inventory Days	0.0	0.03 Days	0.0
Days Receivable	67.98 Days	81.95 Days	67.94 Days
Days Payable	14.14 Days	7.76 Days	11.28 Days
5yr Average Interest Coverage Ratio	22.06	31.65	23.69
5yr Avg ROCE	24.86 %	30.87 %	20.98 %
5yr Avg Operating Profit Margin	17.91 %	19.62 %	16.53 %
5 yr average Debt to Equity	0.09	0.0	0.07
5yr CAGR Net Profit	5.59 %	9.75 %	12.72 %
5yr Average Return on Assets	13.23 %	15.64 %	10.88 %
Shareholdings
Promoter Holding	40.14 %	73.66 %	0.0
Share Pledged by Promoters	0.0	0.0	0.0
Change in Promoter Holding (3 Yrs)	-15.66 %	-0.24 %	-40.09 %
Change in Mutual Fund Holding (3 Yrs)	9.53 %	-0.43 %	17.66 %

Business

	Mphasis	L&T Technology Serv.	Coforge
Product Wise Break-Up	Product Wise Break-Up Application Maintenance 71.6 Business Process Services 16.47 Infrastructure Management Services (IMS) 11.93 License income 0 Customer service 0 Transaction processing service 0 Service / Technical helpdesk 0 Application development 0 Software Services 0 Intelligent Automation 0 Data & Integration 0 Product Engineering 0 SI & PI 0 BPO 0 IP Based 0 0 0	Product Wise Break-Up Service / Technical helpdesk 0 Data & Integration 0 0 SI & PI 0 License income 0 Business Process Services 0 BPO 0 IP Based 0 Application Maintenance 0 Application development 0 0 Product Engineering 0 Intelligent Automation 0 Software Services 100.0 Customer service 0 Transaction processing service 0	Product Wise Break-Up Service / Technical helpdesk 0 Data & Integration 22.4 Infrastructure Management Services (IMS) 19.1 SI & PI 0 License income 0 Business Process Services 0 Business Processing Outsourcing (BPO) 7.6 IP Based 0 Application Maintenance 0 Application development 0 Application Development & Maintenance 41.9 Product Engineering 0 Intelligent Automation 8.9 Software Services 0 Customer service 0 Transaction processing service 0 Others 0.1
Location Wise Break-Up	Location Wise Break-Up USA 81.43 EMEA 10.24 Rest of the World 8.33 India 0 Europe 0 North America 0 Asia Pacific Ex India & Middle East 0	Location Wise Break-Up USA 0 Asia Pacific Ex India & Middle East 0 India 22.7 North America 51.5 EMEA 0 Europe 18.2 Rest of the World 7.6	Location Wise Break-Up USA 56.0 Asia Pacific Ex India & Middle East 0 India 0 North America 0 EMEA 34.2 Europe 0 Rest of the World 0 Others 9.8
Customer Segment	Customer Segment Direct 94.97 DXC / HP business 3.52 Others 1.51	-	-
Operating Profit Break-Up	Operating Profit Break-Up Banking and Capital Market 46.07 Logistics 15.72 Software Services 12.8 Insurance 12.61 Sustainability 0 Plant Engineering 0 Telecom & Hi-Tech 0 Medical Devices 0 Industrial Products 0 Transportation 0 India 0 Asia Pacific 0 EMEA 0 Americas 0 Others 12.8	Operating Profit Break-Up Sustainability 40.0 Insurance 0 Plant Engineering 0 Medical Devices 0 Banking and Capital Market 0 Asia Pacific 0 Americas 0 India 0 Logistics 0 Transportation 32.19 Telecom & Hi-Tech 27.81 Software Services 0 EMEA 0 Industrial Products 0	Operating Profit Break-Up Sustainability 0 Insurance 0 Plant Engineering 0 Medical Devices 0 Banking and Capital Market 0 Asia Pacific 1.82 Americas 59.02 India 0 Logistics 0 Transportation 0 Telecom & Hi-Tech 0 Software Services 0 EMEA 39.16 Industrial Products 0
Verticals	Verticals Banking 48.59 Software Services 16.93 Logistics 12.18 Insurance 11.66 Emerging Industries 0 Sustainability 0 Telecom & Hi-Tech 0 Medical Devices 0 Industrial Products 0 Plant Engineering 0 Transportation 0 Manufacture, Media & others 0 Banking and financial services 0 Travel, Transport and Logistics 0 Others 10.64	Verticals Sustainability 31.13 Insurance 0 Emerging Industries 0 Banking and financial services 0 Plant Engineering 0 Medical Devices 0 Logistics 0 Banking 0 Telecom & Hi-Tech 36.53 Transportation 32.33 Software Services 0 Manufacture, Media & others 0 Industrial Products 0 Travel, Transport and Logistics 0 Others 0.01	Verticals Sustainability 0 Insurance 18.8 Emerging Industries 0 Banking 27.5 Plant Engineering 0 Medical Devices 0 Logistics 0 Banking 0 Telecom & Hi-Tech 0 Transportation 0 Software Services 0 Manufacture, Media & others 0 Industrial Products 0 Travel, Transport and Logistics 18.1 Others 35.6
Onsite vs Offsite	Onsite vs Offsite Onsite 53.37 Offshore 46.63	Onsite vs Offsite Onsite 41.4 Offshore 58.6	-
Client Break-Up	Client Break-Up >1M 57.61 >5M 19.34 >10M 11.93 >20M 4.53 >75M 2.06 >50M 2.06 >100M 1.23 1 Million dollar + 0 5 Million dollar + 0 10 Million dollar + 0 20 Million dollar + 0 30 Million dollar + 0 50 Million dollar + 0 Others 1.24	Client Break-Up $10 mn clients 8.99 $5 Mn+ 16.93 >50M 0 >100M 0 >1M 0 $1 mn clients 48.41 >20M 0 >10M 0 >5M 0 50 Million dollar + 0 $20 Mn+ 2.65 30 Million dollar + 1.85 >75M 0 Others 21.17	-
Contract Type	Contract Type Time & Material 58.25 Fixed Price Contracts 31.57 Transaction Based 10.18 Time and Material Contract 0 Fixed Price 0	Contract Type Time & Material 0 Fixed Price Contracts 0 Time & Material 58.8 Fixed Price Contracts 41.2 Transaction Based 0	-

Mphasis Ltd.

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