About Tech Mahindra Business Services Limited
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Tech Mahindra Business Services Limited was a public limited company based in Mumbai, Maharashtra, India, operated as a subsidiary of Tech Mahindra Limited. The company has been amalgamated - it was merged with another entity and no longer exists as a separate legal entity. It operated in the business process outsourcing sector. It was incorporated on 23 January 2006.
The company was registered with the Registrar of Companies (ROC), Mumbai, under CIN U72900MH2006PLC159149. Its GSTIN is 27AABCH8136L1ZA (Maharashtra).
The company had an authorised share capital of ₹67.65 Cr and a paid-up capital of ₹1 Cr. It was formerly known as Hutchison 3 Global Services Private Limited and Hutchison Global Services Limited. It was led by directors including Kunal Jesrani and Birendrakumar Udairaj Sen.
Its last annual general meeting (AGM) was held on 25 July 2022, and its latest financial statements are for the year ended 31 March 2022. The registered office was at Spectrum Towers Mindspace Complex Off Link Road Malad (West), Mumbai, Maharashtra, India – 400064.
As per the financials filed for FY 2022, the company reported a revenue of ₹908.6 Cr, a growth of 14% compared to the previous year. For the same year it recorded a net profit of ₹199.5 Cr (net margin 22%) and EBITDA of ₹308.6 Cr (EBITDA margin 34%). Revenue has grown at a compounded annual rate (CAGR) of 6% over three years and 5% over five years.
The company had about 7,716 employees on its provident fund (EPFO) records before it was dissolved.
Court records list 24 cases involving the company, including 7 filed by the company and 17 filed against it; 8 cases are pending. The company has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹67.6 Cr; the latest was in September 2012. The company has 6 MSME Form 1 returns on record between 2019 and 2022, listing 46 overdue payments to 7 micro and small suppliers.
The last known website on record is techmahindra.com.
Company details
Name history
Tech Mahindra Business Services has undergone 4 name changes throughout its history. The current legal name is Tech Mahindra Business Services Limited.
| Company Name | Status |
|---|---|
| Tech Mahindra Business Services Limited | Current |
| Hutchison 3 Global Services Private Limited | Previous |
| Hutchison Global Services Limited | Previous |
| Hutchison Global Services Private Limited | Previous |
| Hutchison Whampoa Properties (India) Private Limited | Previous |
CIN history
Tech Mahindra Business Services has one previous CIN (Corporate Identification Number): U72900MH2006PTC159149. The current CIN is U72900MH2006PLC159149, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U72900MH2006PLC159149 | Current |
| U72900MH2006PTC159149 | Previous |
Contact details
Tech Mahindra Business Services Limited's registered office is in Mumbai, Maharashtra. Its website is techmahindra.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSpectrum Towers Mindspace Complex Off Link Road Malad (West), Mumbai, Maharashtra, India – 400064
- IndustryBusiness Outsourcing, Business Process Outsourcing
To see the full contact details of Tech Mahindra Business Services Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Tech Mahindra Business Services is information and communication. In detail, this covers other information & communication service activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| J | Information and communication | J8 | Other information & communication service activities |
To see the full business activity and turnover split of Tech Mahindra Business Services Limited, buy the company report.
Financials of Tech Mahindra Business Services Limited
FY 2022 filings availableTech Mahindra Business Services Limited reported revenue of ₹908.6 Cr (up 14% YoY) for FY 2022.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 5% over five years, including 14% growth in the latest year. EBITDA rose 30% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹908.6 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹308.6 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹199.5 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 | FY 2017-18 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 34% | ||||
| Net Profit Margin | 22% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Tech Mahindra Business Services Limited, buy the company report.
Board of directors of Tech Mahindra Business Services Limited
Tech Mahindra Business Services has 3 current directors and 22 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kunal Jesrani Also directs: Allyis India Private Limited | Director | 20 Jul 2021 | 5 Years 3 Months | As last reported |
| Birendrakumar Udairaj Sen Also directs: Zen3 Infosolutions Private Limited | Director | 31 Oct 2017 | 9 Years 0 Months | As last reported |
| Sujit Baksi | Director | 04 Sep 2012 | 14 Years 2 Months | As last reported |
Auditor
Tech Mahindra Business Services Limited is audited by B S R & Co. LLP for the financial year 2022.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B S R & Co. LLP | FY 2022 | 101248W/W-100022 |
Shareholding
The shareholding of Tech Mahindra Business Services Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Tech Mahindra Business Services Limited, buy the company report.
Deals & funding
Tech Mahindra Business Services Limited has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹67.6 Cr; the latest was in September 2012.
Deals on record (5 of 6)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2012 | Acquisition | Undisclosed | Buyer: Tech Mahindra Limited Seller: Hutchison 3 Global Services Holdings Limited, Colonial Nominees (BVI) Limited |
| Mar 2012 | Secondary share transfer | Undisclosed | Seller: Hutchison 3 Global Services Holdings Limited |
| Mar 2011 | Secondary share transfer | Undisclosed | Seller: Hutchison 3 Global Services Holdings Limited |
| Mar 2010 | Secondary share transfer | Undisclosed | Seller: Hutchison 3 Global Services Holdings Limited |
| Apr 2007 | Secondary share transfer | Undisclosed | Buyer: Hutchison 3 Global Services Holdings Limited, Colonial Nominees (BVI) Limited Seller: 2 individuals |
To see the full deal history of Tech Mahindra Business Services Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Tech Mahindra Business Services Limited has 24 court cases on record: 7 filed by Tech Mahindra Business Services, 17 filed against it. 8 cases are pending and 16 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 11 | 7 | 5 |
| District courts | 10 | 7 | 3 |
| Supreme Court | 3 | 3 | 0 |
Cases on record (5 of 24)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Mumbai CMM Courts, Maharashtra | Court case (Ss cases s) | Filed against the company by Yes Bank Limited | Pending |
| District court, Pune, Maharashtra | Execution petition | Filed by the company against Corp One Promotional Clothing and Accessories Pvt. Ltd. | Disposed |
| Bombay High Court | Writ petition | Filed against the company by Tech Mahindra Limited | Disposed |
| Bombay High Court | Court case (SS) | Filed by the company against M/S. Track3 HR Solutions Pvt. Ltd. | Disposed |
| Bombay High Court | Court case (CHOL) | Filed by the company against M/S. Track 3 HR Solutions Pvt. Ltd. and 2 Ors. | Disposed |
To see the full case history of Tech Mahindra Business Services Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Tech Mahindra Business Services Limited has 6 MSME Form 1 returns on record between 2019 and 2022, listing 46 overdue payments to 7 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 7)
To see the full MSME payment records of Tech Mahindra Business Services Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Employees & EPFO
Tech Mahindra Business Services Limited has a workforce of 7,716 employees on its EPFO records as of Mar 31, 2024, across 1 active EPFO establishment.
GST
Tech Mahindra Business Services has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AABCH8136L1ZA | Maharashtra | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Tech Mahindra Business Services Limited, buy the company report.
Recent activity
Tech Mahindra Business Services Limited has 23 board changes on record since 2007: 3 appointments and 20 cessations. The latest: Ritesh Mohan Idnani ceased to be Director on 10 Sep 2021.
14 earlier events are in the company report.
News
Frequently asked questions
Tech Mahindra Business Services has been "Amalgamated" (merged) as per MCA records. The company was combined with another entity and no longer exists as a separate legal entity. Business activities, if any, continue under the successor entity.
Tech Mahindra Business Services was a public limited company based in Mumbai, Maharashtra, India. The company worked in business process outsourcing, within the business outsourcing industry. It was incorporated on 23 January 2006 and is registered under CIN U72900MH2006PLC159149. The company is recorded as amalgamated in MCA records and no longer exists as a legal entity.
Tech Mahindra Business Services was incorporated on 23 January 2006. It is registered with the Registrar of Companies, Mumbai.
Tech Mahindra Business Services had 3 directors:
- Kunal Jesrani - Director
- Birendrakumar Udairaj Sen - Director
- Sujit Baksi - Director
The CIN (Corporate Identification Number) of Tech Mahindra Business Services is U72900MH2006PLC159149. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
The registered office of Tech Mahindra Business Services is at Spectrum Towers Mindspace Complex Off Link Road Malad West, Mumbai, Maharashtra, India – 400064.
Tech Mahindra Business Services can be reached through the website techmahindra.com. Its registered office is in Mumbai, Maharashtra, India.
The latest financial statements of Tech Mahindra Business Services on record with the MCA are for the year ended 31 March 2022. Its last annual general meeting was held on 25 July 2022. Year-wise statements from 2015 are in the company report.
The GSTIN of Tech Mahindra Business Services is 27AABCH8136L1ZA, registered in Maharashtra.
Tech Mahindra Business Services operated in the business outsourcing industry, in the business process outsourcing segment.
Tech Mahindra Business Services has 6 deals on record (4 secondary share transfers, 1 funding round, 1 acquisition), with disclosed funding of ₹67.6 Cr; the latest was in September 2012.
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