The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Mohit Jain - Anand Rathi - Analyst
: First, congrats on a good quarter, especially on the margin front. One is on the health segment. Now there is some increase which we have seen
in this quarter. So, is it on account of the acquired entity integration and more in the US or should we assume that the issues we face in UK are now
behind and this account has started growing for us. So, that's one. And second, now that you have alluded to the fact that government spending
is high on the IT side. So, what kind of growth rate should we really expect (inaudible)
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JANUARY 18, 2024 / 10:30AM, MAST.NS - Q3 2024 Mastek Ltd Earnings Call
Question: Mohit Jain - Anand Rathi - Analyst
: Right. And second was on the government segment, like, if you exclude the way we report government and education. What kind of growth is
expect there?
Question: Mohit Jain - Anand Rathi - Analyst
: Right. And one on the margin front. Now that we have done 17%. Is there a possibility that with US profitability coming back and I think there is
more confidence than US growth, that company-level margins can move up more towards 19%, 20% over medium term?
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Question: Mohit Jain - Anand Rathi - Analyst
: But from your standpoint, specifically, coming out of this strong quarter. So, there is no headwind, given that wages are behind, US seems to be
turning around.
Question: Mohit Jain - Anand Rathi - Analyst
: And third quarter has no one-offs in margin, right?
Question: Mohit Jain - Anand Rathi - Analyst
: Because, in one of the footnote you guys have mentioned, I think margins could have been higher, if the one-time expenses would not be there.
Question: Mohit Jain - Anand Rathi - Analyst
: Perfect, sir. All the best. Thank you.
Question: Ravi Naredi - Naredi Investments - Analyst
: Thank you very much to give me the opportunity. Sir in last nine months, we grew 44% revenue in US, which is very much impressive. Secondly,
from UK and Europe, we grew 11% only and our profit rises 3.55% only. So, from above table, we conclude the US business is growing, while UK
and Europe is steady and giving less bottom line downward than US, it is (inaudible)?
Question: Ravi Naredi - Naredi Investments - Analyst
: Right. Thank you for detailed answer. Secondly, is our revenue backlog grew, but not our margin? So, what step in our mind to reach back 15%
profit after-tax margin?
Question: Ravi Naredi - Naredi Investments - Analyst
: Right, okay. Thank you very much for nice reply.
Question: Amit Chandra - HDFC Securities - Analyst
: Thanks for the opportunity. My question is on the strong order book that we have shown and it has been there for the last two quarters. So, if you
can provide more color in terms of what kind of deals we are winning and in terms of mix, whether it is more US heavy or are we also seeing good
part of around UK private in this?
Question: Amit Chandra - HDFC Securities - Analyst
: Sir, on the UK government. So, we know that in this quarter there was a furlough impact. So, apart from the furlough impact, are we seeing any
issues in terms of revision making or any order delays in ramp up? And can we also see extended furloughs in the or in the UK government for next
quarter? And apart from that, how do we see your penetrating strategy in terms of penetrating into other departments within the government?
Question: Amit Chandra - HDFC Securities - Analyst
: Great, sir. And final question on the margin. So, obviously, the margin performance has been impressive and it's mostly led by recovering the US
margin. So, how do you see the risk margins going ahead from here in terms of still it slipped below the company average. So, it is fair to assume
that we have reached the optimal level or still there is scope for improvement in the US? And at the overall, is it fair to assume that with a margin
in the US recovering, we can be in the higher end of the (inaudible)
Question: Amit Chandra - HDFC Securities - Analyst
: Great, sir. Thank you.
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