Press Release

HGS announces Q4 and full-year results for FY2021

Q4 FY2021 earnings press release

Mumbai, India, June 18, 2021: Hinduja Global Solutions (HGS) (listed in BSE & NSE) today announced its audited Fourth Quarter and Full-Year Results for FY2021.

Speaking on the results, Partha DeSarkar, Executive Director and Global CEO of HGS said:

“The onset of the pandemic last year led to several challenges for HGS. I am very pleased with how TeamHGS overcame this phase by turning these challenges into opportunities.

It’s been a fantastic performance on many parameters. On like-to-like basis, HGS registered double-digit growth in revenue, EBIDTA and PAT for FY2021. Our PAT has been the highest-ever for both Q4 and full-year of FY2021.

Our strategy in FY2021 was simple – shift our people to primarily Work@Home model, create a strong momentum in client wins (new and existing), add big wins in core verticals like healthcare and Public Sector and sell more digital services. This has helped us achieve significant growth in the business and improve profitability. Additionally, adoption of cloud telephony has helped us scale our business rapidly, without having to spend on capex for brick and mortar expansion. The successful transition to Work@Home has also given us the highest employee satisfaction scores and customer satisfaction scores ever.

Looking ahead, we expect to build on this momentum and are investing in aggressive growth in FY2022.”

Financial Highlights for Q4 FY2021

  • Q4 FY2021 revenues stood at Rs. 15,636 million. Revenue growth of 18.6%YoY as reported
  • Revenue growth of 21.6% YoY on like-to-like basis(excluding India Domestic CRM business revenues that was sold in January 2020)
  • EBITDAfor Q4 FY2021 was Rs. 2,342 million, a growth of 24.5%YoY as reported; EBITDA growth of 31.7% YoY on like-to-like basis, (excluding India Domestic CRM business that was sold in January 2020)
  • EBITDA margins stood at 15% in Q4 FY2021
  • Net profit for Q4 FY2021 was Rs. 1,303million, a growth of 190.6% YoY; Net marginsstood at 8.3%
  • Capital expenditure for the quarter was Rs. 414million
  • Final Dividend of Rs. 22 per share, including special dividend of Rs. 15 per share

Financial Highlights for Full-Year FY2021

  • Net Sales increased to Rs. 55,889 million, a growth of 6.8% YoY as reported
  • Revenue growth was 14.6% on like-to-like basis (excluding pass-through revenues and India Domestic CRM business revenues included for 10 months FY2020)
  • EBITDA stood at Rs. 7,734 million, a growth of 7.9% YoY as reported; EBITDA growth of 16.0% YoY, on like-to-like basis (excluding India Domestic CRM business that was sold in January 2020)
  • EBITDA margins stood at 13.8%in FY2021
  • Net profit was Rs. 3,361million, a growth of 63.4% YoY; Net margins stood at 6.0%
  • Capital expenditure for the year was Rs. 1,581million
  • Reduction in gross debt of Rs. 2,106million in FY2021
  • As of 31st March, 2021, Net Cash stood at Rs 1,365 million
  • Total Dividends for the financial year FY2021 of Rs. 40 per share, including special dividend of Rs. 15 per share

Business Highlights for Full-Year FY2021

  • Client wins: Added 48 new logos across verticals for core BPM services (including 37 for digital services engagements) and 22 for HRO/ Payroll Processing
  • Clientele: As of 31st March, 2021, HGS had 254 core BPM clients and 708 HRO/Payroll processing clients.
  • M&A: Between November 2020 and January 2021, Hinduja Global Solutions UK Limited, a subsidiary of HGS, has acquired the balance equity interest in HGS Digital LLC, USA, making it a wholly-owned subsidiary
  • Employee Headcount: 39,889 as of 31st March, 2021
  • Delivery Centers: HGS had 56 global delivery centers across seven countries as on 31st March, 2021.
  • Awards & Recognition in Q4 FY2021:
    • A “Leader” in the 2021 Gartner Magic Quadrant for Customer Service BPO, Gartner
    • A Leader in “Customer Care and sales Capability“ & “Online Reputation Management Capability“ in Social Media CX NEAT 2020, NelsonHall
    • “Booming 15 – Service & Technology Provider Standouts –EMEA”, the ISG Index™ Global Sourcing and As-a-Service Market Insights –Q4 2020, ISG
    • “Aspirants” in Work at Home Agent CXM – Service Provider Landscape PEAK Matrix® Assessment 2021”, Everest
  • Awarded:
    • 2021 Impact Sourcing Company to Watch – IAOP
    • Won in Transition to Virtual Workplace – HR Lens and the Best CSR Practice categories at the Global HR Excellence Awards 2021
    • Named as Highly Commended in the Responding in a Crisis – Best Partnership Solution category at the ECCCSA Awards 2020
    • Recognized in Top 20 Most Innovative Practices in DivHERsity programs and Top 20 Most Innovative Practices in Women L&D Programs at the DivHERsity Awards 2021

About Hinduja Global Solutions (HGS)
A global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day. HGS combines technology-powered services in automation, analytics and digital with domain expertise focusing on back office processing, contact centers and HRO solutions to deliver transformational impact to clients. Part of the multi-billion dollar conglomerate Hinduja Group, HGS takes a true “globally local” approach, with over 39,889 employees across 56 delivery centers in seven countries making a difference to some of the world’s leading brands across nine key verticals. For the year ended 31st March 2021, HGS had revenues of Rs.5,889million (US$ 753.9million).

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HGS contacts

Srinivas Palakodeti
+91 80 4643 1000

R. Ravi
+91 22 2496 0707

For media queries, contact:

Thanuja B M
+91 80 4643 1000