Wednesday, 22 July 2009

Mastek – the ‘Little Indian Battler’

(By Anthony Miller – Wednesday 22nd July 2009 6:00pm). By jove it’s been a busy day in India! I didn’t get a chance to listen in to Mastek’s concall today but I am meeting UK management next month. Mastek is particularly interesting because of its high exposure to the UK – which accounts for nearly 60% of its some £120-125m p.a. revenues (to 30th June ’09). A goodly part of this comes from Mastek’s long-standing relationship with UK BPO leader, Capita. Mastek also subcontracts to BT in the NHS NPfIT Spine contract, though revenues from this deal apparently have been in faster decline than Mastek had anticipated. Mastek also won a spot on the recent NHS Scotland framework agreement (see NHS Scotland includes Indian Mastek in latest award). You may also recall our recent comment on Mastek’s relationship with UK ‘Little British battler’, Focus Solutions (see Focus and Mastek focus on Life and Pensions). So, though Mastek is really nowhere on the global radar compared to the India-based majors, it’s punching above its weight here in the UK. We shall bring you more on Mastek in due course.

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