{"id":37108,"date":"2022-04-20T16:18:16","date_gmt":"2022-04-20T10:48:16","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-mastek-revenue-growth\/"},"modified":"2022-04-20T16:18:16","modified_gmt":"2022-04-20T10:48:16","slug":"biz-mastek-revenue-growth","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-mastek-revenue-growth\/","title":{"rendered":"Mastek aims to be USD 1 bn revenue company by 2026"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4119588996\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Mumbai, Apr 20 (PTI) Mid-tier IT company Mastek is aiming for a nearly four-fold growth in its top line to a yearly rate of USD 1 billion by 2026 or early 2027 through a mix of both organic growth and acquisitions, a senior official said on Wednesday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1793515765\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>The city-headquartered company, which had cash of over Rs 750 crore as of March 31, will be scouting for acquisition targets in the US in the pursuit of its aspiration, its global chief financial officer Arun Agarwal told PTI.<\/p>\n<p>&#8220;Our aim is to have a yearly revenue rate of USD 1 billion by the early part of the second half of the current decade. It can be either in 2026 or early 2027. We will achieve that both organically and through inorganic means,&#8221; he said.<\/p>\n<p>The listed company closed FY22 with revenues of Rs 2,183 crore or USD 293 million, which were over 26 per cent higher than the year-ago period. For the March quarter, its revenues grew 20.3 per cent to Rs 581.5 crore or over USD 75 million, while the net profit came at Rs 88.2 crore.<\/p><div class=\"trade-content_5\" id=\"trade-4240721901\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Agarwal said the company gets over two-thirds of its revenues from the UK market, where it has a special focus on serving the IT needs of the state-run entities, while the US contributes only 18 per cent.<\/p>\n<p>The share of the US will go up to 30 per cent of the revenue as the growth outpaces the overall company&#8217;s rise, and the UK&#8217;s share will come down to 50 per cent of the pie when it achieves the USD 1 billion revenues, he said.<\/p>\n<p>The growth in US revenues will have to be achieved through acquisitions, and the company will be scouting for assets there, he said, adding the acquisition can be executed either through internal accruals or debt or going in for new capital infusion as well.<\/p>\n<p>Agarwal said the operating profit margin declined by 0.20 per cent from a sequential perspective to 20.8 per cent but added that it is one of the best in the universe of mid-tier IT players.<\/p>\n<p>The company had nearly 5,000 employees at the end of FY22, which included 3,682 working offshore in India and the rest at onsite locations. Agarwal said it will continue to hire both from campuses for freshers and laterally as the requirement comes up.<\/p>\n<p>The Mastek scrip closed 0.82 per cent down at Rs 2,802.55 apiece on the BSE on Wednesday, as against gains of 1.02 per cent on the benchmark. PTI AA  BAL BAL<\/p><div class=\"trade-content-10\" id=\"trade-3350660771\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<div class=\"trade-after-content\" id=\"trade-2785991875\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Mumbai, Apr 20 (PTI) Mid-tier IT company Mastek is aiming for a nearly four-fold growth in its top line to a yearly rate of USD 1 billion by 2026 or early 2027 through a mix of both organic growth and acquisitions, a senior official said on Wednesday. The city-headquartered company, which had cash of over [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-37108","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mastek aims to be USD 1 bn revenue company by 2026 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-mastek-revenue-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastek aims to be USD 1 bn revenue company by 2026\" \/>\n<meta property=\"og:description\" content=\"Mumbai, Apr 20 (PTI) Mid-tier IT company Mastek is aiming for a nearly four-fold growth in its top line to a yearly rate of USD 1 billion by 2026 or early 2027 through a mix of both organic growth and acquisitions, a senior official said on Wednesday. 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