1. Analyst Presentation
Half Year Ended September, 2003
Mumbai; 21st October, 2003
Your IT Partner
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2. Highlights of Performance – HYE September, 2003
• Total Revenue in H1 up 47% at Rs. 343 crores compared with
234 crs in last year. Consolidated Revenue at Rs. 365 crs.
• Profit before tax up 36% at Rs. 24.3 crs.; Consolidated PBT at
Rs. 23.4 crs.
• Total Revenue for Q2 at Rs. 184 crs. up 35% y-o-y and 15 %
q-o-q
• PBT for Q2 at Rs. 12.5 crs. up 49% y-o-y and 7 % q-o-q.
• Revenue Growth driven by CS and Indonet – CS up by 98%;
Indonet up by 86%.
• International Revenues growth at 9%.
• Debtors days fall further to 89 days.
• PAT per person month up by 28%
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CMC Limited

3. H1 Financial Performance
PAT
Total Revenue PBDIT
(Rs Crore) (Rs Crore) (Rs Crore)
400.0 35 18.0
37% 27% 16.6
47% 343.2 30.0
16.0
350.0 30
14.0 13.0
300.0 25
12.0
21.9
250.0 234.0
20 10.0
200.0
8.0
15
150.0
6.0
10
100.0 4.0
5
50.0 2.0
0.0 0 0.0
FY 03 FY 04 FY 03 FY 04 FY 03 FY 04
Strong Volume growth neutralized the impact of pressure on margins in
tough market conditions
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CMC Limited

4. H1 Financial Performance - Productivity
NVA Per Person Month NVA/Employee Cost PAT Per Person Month
(‘000 Rs) (‘000 Rs)
(Times)
28%
13%
72 2.5 9
5% 8.5
71.2
2.5 2.43
8
71 2.4 7 6.6
2.4
70
6
2.3
69 5
2.3
2.2 4
68 67.7
2.14
2.2 3
67 2.1
2
2.1
66 1
2.0
65 2.0 0
FY 03 FY 04 FY 03 FY 04 FY 03 FY 04
Focus on improved manpower utilization to reduce costs and increase
profits
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CMC Limited

5. Summary Financial Performance – HYE Sept, 2003
Q2 Variation HYE Sept Variation Consolidated
(Rs. Crores)
03-04 02-03 03-04 02-03 Q2 H1
Actual Actual (%) Actual Actual (%)
Domestic
- Cust. Service 116.0 63.8 82% 215.3 108.9 98% 116.0 215.3
- Sys. Integration 22.2 27.6 -19% 37.1 46.3 -20% 22.2 37.1
- Indonet 6.5 5.1 26% 17.5 9.4 86% 6.5 17.5
- Edu. & Trg. 4.7 7.5 -37% 8.0 13.3 -40% 4.7 8.0
International 29.9 31.3 -4% 59.1 54.2 9% 39.3 80.8
Other Incomes 4.6 0.9 414% 6.2 1.9 226% 4.6 6.2
Total Revenue 183.9 136.2 35% 343.2 234.0 47% 193.3 364.8
Less: - Direct Exp.
- Material Cost 99.4 48.4 105% 178.0 75.2 137% 99.4 178.0
- Living exp. 13.0 13.8 -6% 25.8 25.1 3% 7.0 13.1
- Manpower Cost 28.3 34.0 -17% 57.4 62.5 -8% 39.6 81.2
- Other Expenses 27.6 29.6 -7% 51.9 49.3 5% 32.9 63.1
- Total Expenses 168.3 125.8 34% 313.1 212.1 48% 178.9 335.4
PBDIT 15.6 10.4 50% 30.0 21.9 37% 14.4 29.4
Less: Interest 0.9 0.3 197% 1.7 0.4 330% 0.9 1.7
: Depreciation 2.2 1.7 30% 4.1 3.7 10% 2.3 4.4
Profit Before Tax 12.5 8.4 49% 24.3 17.8 36% 11.2 23.4
Less: Income Tax 4.1 2.0 101% 7.7 4.8 61% 4.5 8.1
Profit After Tax 8.4 6.4 32% 16.6 13.0 27% 6.7 15.3
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CMC Limited

6. H1 Financial Performance: Segmental Revenue(1)
FY03 FY04
20%
Customer Services
4% 11%
System Integration
6%
5%
Indonet
63% 2%
Educational Training
International
46% Others
23%
17%
2%
1%
Growth driven by CS and Indonet business
(1) Standalone financials
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CMC Limited

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CMC Limited