MajescoLimitedInvestorDay

May19,2016

2016Majesco.Allrightsreserved

CautionaryLanguageConcerningForwardLookingStatements
This presentation contains forwardlooking statements within the meaning of the safe harbor provisions of the Private Securities Litigation
Reform Act. These forwardlooking statements are made on the basis of the current beliefs, expectations and assumptions of management,
are not guarantees of performance and are subject to significant risks and uncertainty. These forwardlooking statements should, therefore,
be considered in light of various important factors, including those set forth in Majescos reports that it files from time to time with the
Securities and Exchange Commission and which you should review, including those statements under Item 1A Risk Factors in Majescos
Annual Report on Form 10K.
Important factors that could cause actual results to differ materially from those described in forwardlooking statements contained in this
presentation include, but are not limited to: integration risks; changes in economic conditions, political conditions, trade protection
measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks;
additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects
and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular;
restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them
and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majescos ability
to raise capital to fund future growth.
These forwardlooking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events
or circumstances discussed or reflected in these statements will be achieved or will occur. If such forwardlooking statements prove to be
inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other
person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on
these forwardlooking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update
or release any revisions to these forwardlooking statements, whether as a result of new information, future events or otherwise, after the
date of this press release or to reflect the occurrence of unanticipated events, except as required by law
2

2016Majesco.Allrightsreserved

MajescoLimited InvestorDay May19,2016

Welcome
AgendafortheDay

MajescoBusinessUpdate KetanMehta
FinancialUpdate FaridKazani
WrapupandQ&A
ShortBreak
SolutionShowcase(P&C,L&A,Data&Digital)
LunchandInteractions

2016Majesco.Allrightsreserved

30Minutes
15Minutes
30Minutes
60Minutes

BusinessUpdate
KetanMehta,CEOandCoFounder,Majesco

2016Majesco.Allrightsreserved

WhoisMajesco?
Product

Market

ServesP&C,
L&AandGroup

Solutions:
Core,Data,Digital

Customers

164Customers

Growth

GlobalFootprint
NA 89%
UK 8%
APAC 3%

IndustryAnalyst
RatedAmongTop3

42%Revenue
GrowthFY16

2016Majesco.Allrightsreserved

InsuranceGrowth
2YearCAGR@23%

MajescoBusinessPrioritiesforFY2016
CustomerSuccess

Successful
Implementations

MarketPenetration
Newlogos;
OrderBacklog;
SG&A
Investment

Product

Investmentin
ProductR&D

CompanyIntegration

CoverAlland
AgileTechnologies

2016Majesco.Allrightsreserved

ProductInnovation

PartnerEcosystem
ExpandAcrossSI,
Solution,Industry,
Contentand
Infrastructure,
Partners

MajescoBusinessResultsFiscalYear2016
CustomerSuccess

Product
ProductInnovation

34
GoLives

MarketPenetration

57%

Investment
increased
by57%

CompanyIntegration

19NewLogos
42%revenue
growthyearon
year
12Month
ExecutableBacklog
upby46%
7

CoverAllandAgile
Technologies
successfully
integrated
2016Majesco.Allrightsreserved

MajescoBusinessAnalytics,
MajescoDigitalConnect,
MajescoTestingServices,
Cloudandupdatestoallcore
software

PartnerEcosystem
DeepenedIBM&
DeloitteSI
partnerships
Expandedecosystem
with10partners

InsuranceIndustryDynamics

2016Majesco.Allrightsreserved

TheInsuranceTechnologyOpportunity
isaLargeandGrowingMarket
$4,778B

Over11,000
insurers
globally

premium
volume

Insurers2016BudgetsComparedto2015
(percentageofrespondents)

P&C
44%

P&C
L&A

EstimatedInsurerAverageITBudget
Breakdown:Digital,Data,Core,Security,Other
[CATEGORY
NAME],
[VALUE]

Data,20%

,0

Source:NovaricaResearch
CouncilCIOSurvey2015Q3

L&A
56%

Other,
10%
[CATEGORY
NAME],
[VALUE]

Levelwith
2015,34%

[CATEGORY
NAME],
[VALUE]

$25
Billion

InsuranceGlobalMarket

BigMarket

[CATEGORY
NAME],
[VALUE]
[CATEGORY
NAME],
[VALUE]

Maintenance
&Support

NewHardware
&Software

Core,40%

Source:Novaricaestimatesbasedonanalysis
ofResearchCouncilCIOSurvey2015Q3

2016Majesco.Allrightsreserved

Addressable
Market
External
Services &Staffing

58%ofInsurers2016ITBudgetsIncreasing

80%ofInsurersITBudgetsforCore,
DataandDigital
P&CandL&AOfferSignificant
AddressableMarket
Source:Novarica,Celent

PressureontheInsuranceIndustryiscomingfromthreedirections
People
Changing
Market
Demographics

Changing
RiskProfiles&
Needs

Shifting
Customer
Expectations

Technology
Emerging
Technologies

Explosionof
NewData

NEWINNOVATIONS

INSURANCE
COMPANIES

MarketBoundaries
New
Competitors

10

Shifting&
Expanding
Channels

FadingIndustry
Boundaries

2016Majesco.Allrightsreserved

EnablingInsurers:

EvolutionofTechnologyUnderpins
theInsuranceIndustryChallenge

Agility

Innovation:
NewBusinessModels
Innovation

Optimization:
EBusiness&Engagement
Effectiveness:
AgentAutomation

Speed
11
11

Efficiency:
OperationalAutomation
2016Majesco.Allrightsreserved

MarketDynamicsDrivenbyCustomerDemands

Strongpreferencetobuyvs.build

Demandforfewertrustedpartnerswith
sizeandscale

Top5softwaresuitevendorsgetmajorityof
newdeals

DigitalandDatastrategiesdriveneedto
improvecustomerexperienceandinsights

Increasedadoptionofcloudforcoreand
moreforinnovationandspeed

12

Channelstrategiesdemanddistributionand
digitalsolutions

2016Majesco.Allrightsreserved

Source:SMAResearch;Novarica

MajescoOfferings

13

2016Majesco.Allrightsreserved

EnablingtheEntireInsuranceValueChainAcrossAllLinesofBusiness
Consulting

DepthofSolutions

Policy

Billing
Digital

Claims
Data
Services
PartnerEcosystem

BreadthofSolutionsAcrossAllLinesofBusiness

Multiple entry points to a relationship

Consulting and services around core to enable business transformation
Growth opportunities through crossselling breadth and depth of solutions

14

2016Majesco.Allrightsreserved

Distribution
Cloud

ProductPortfolio
ProductscoveringendtoendcustomerexperienceforP&CandL&Ainsurers

Life&Annuity

Property&Casualty

BusinessAnalytics

PlatformTools

Digital

Policy

15

Group&EmployeeBenefits

Personal,
Commercial
Specialty
Content

Billing

Claims

2016Majesco.Allrightsreserved

Distribution
Management

TopProductInitiatives

16

#1

Cloud Platform Advancements

#2

Data & Digital Innovations

#3

Enablement of New Business Models

#4

TCO Reduction

2016Majesco.Allrightsreserved

ExpandingPartnerEcosystem
System
Integrators

ISO

Deloitte
IBM

Niche
Solutions

Content

Majesco

IBM
Oracle
Microsoft

17

Technology

Industry

2016Majesco.Allrightsreserved

NAMIC
IASA
ACORD
LIMRA
LOMA
MGA

PitneyBowes
Appulate
Splice
Elagy
Blueprint

Growthstrategy

18

2016Majesco.Allrightsreserved

MajescoGrowthDrivers

Cloud

Life,Annuity&
Group

CrossSale
164Customers

19
19

Mergersand
Acquisitions

2016Majesco.Allrightsreserved

OurCustomers
Weserve164 clientsglobally

20

2016Majesco.Allrightsreserved

InsuranceCustomersbyTier

21
21

FY14

Direct
WrittenPremium

FY16

>$5B

17

21

$1Bto<$5B

27

24

$100Mto<$1B

49

23

<$100M

64

2016Majesco.Allrightsreserved

Source:Majesco

CustomerAnalysis NAP&CCustomerGroupingbySolution

Policy

TotalP&C
customerbaseof
94
Potentialcross
selling
opportunities
acrossthe3
products

22
22

35

3
18

Billing

35

2016Majesco.Allrightsreserved

Claims
2

Broad,GrowingClientBase
Startups,Greenfield,
Incubator MarketEntry

MidMarket
Compete&Grow

Ourclientsrepresent35%ofNorthAmericaP&CIndustryDWP
23

2016Majesco.Allrightsreserved

Large
NewInitiatives

CloudSolution
OutofBox,Scalable

24

2016Majesco.Allrightsreserved

CloudMarketOpportunity
MarketOpportunity

25
25

SpeedtoValue

Variable
costmodel

Lowertotal
costof
ownership

Attractiveto
Greenfields,
Startupsand
Incubators

2016Majesco.Allrightsreserved

MajescoCloudInsurerPlatform MarketLeadingSolution
WhyMajescoisUniquelyPositioned
Majescohasallthecomponents
CoreSoftware

Implementation
andPost
Production
Services

Partner
Ecosystemof
Contentand
Solutions

DigitalandData
Extensions
ReadytoUse
Content

26
26

Over30
Customer
SuccessStories

OutoftheboxRepeatable,ScalableCloudPlatformwithSingleAccountability
vs.
2016Majesco.Allrightsreserved
BuilditModelwithManyProvidersandLimitedControl

More
Experiencethan
theCompetition

Life,Annuities,andGroup
Uniquelypositioned

27

2016Majesco.Allrightsreserved

TheNorthAmericanL&AandGroupMarket ARapidlyChangingLandscape
MarketDynamics

Underinvestmentin
Technology
Overcominglegacy
challengeshasbeenputoff
bymanycarriers

LimitedCompetition
Fewmodernsolutionsoffered
withlittlecompetition
comparedtoP/C

TechnologyInvestment
Stagnation

LackofModern,Compelling
SoftwareOptions

ThefinancialcrisisbroughtL&A
technologyinvestmenttoa
screechinghaltin2007

Mostvendorslimitedinvestmentsfor
manyyears,creatingavoidofmodern
softwareoptionsforinsurers

CreatesOpportunity
Thenetresultistremendouspentup
demandformoderncoresystems

28

2016Majesco.Allrightsreserved

MajescoL&ANorthAmericaDifferentiators

Uniquelypositioned
withasinglemodern
solutiontotake
advantageofa
rapidlychanging
marketplace

29

Few(ifany)
competitorssupport
bothGroupand
Individualbusiness

Ourdepth,scale,
andbreadthof
softwareand
servicessolutions

2016Majesco.Allrightsreserved

OurservicesandSI
partnersservethe
rangeofinsurers
fromstartupstothe
largestcarriers

TrackRecordofAcquisitions
Successfullyintegrated

30

2016Majesco.Allrightsreserved

SuccessfulTrackRecordofAcquisitionsandIntegration

FivesuccessfulM&AIntegrations
intheLast10Years

AcquisitionofSEG
andDFTK
Acquisition
ofSTG

Acquisition
ofVector
Technologies

3
Customers

10+
Customers

80+
Customers

35+
Customers

150+
Customers

2015
2013
2008

2007
2005
31
31

AcquisitionofAgile
Technologies&Merger
withCoverAll
Technologies

2016Majesco.Allrightsreserved

MajescoDifferentiators
UniquelyPositionedtoServiceallTypesintheIndustry

Engageprospective
customersat
multiplelevelsand
pointsofentry

Depthand
Breadthof
Solutions

Singlepointof
accountabilityand
lowerTCO

SpeedtoValueDriven
byInvestmentsin
Capabilities

EnableTraditionalandEmergingBusinessModels
32
32

2016Majesco.Allrightsreserved

EnableInnovative
BusinessPlanswith
SolutionasaService
Offering Powered
byMajesco

Simplifythe
Transformation
Process:BuildforNew
First,thenTransition
theOld

GrowthOutcomes

StrengthenedBrand
NewClientWins
CrossSale/Upsell
OrderBookGrowth
ProductLeadership
ClientSuccesses

Revenue
Growth

Market
Penetration
Orderbook
growthbased
onthedeals
weclose

FY2016

Establish
integration
synergiesand
implementation
success

FY2017

ThreeYears

33
33

2016Majesco.Allrightsreserved

Profitability
Growth
Optimizethe
organizationto
scalegrowth

FY2018

MajescoStrongGrowthOpportunity
$4.6Trillionmarketin
themidstofmajordisruption
andneedformodern
technologyadoption

34
34

Amongtop3inCore
Systems,Distribution,
Data,DigitalandCloud

Multiplegrowth
driversforP&C,L&A
andGroup

Successfultrackrecordof
growthinInsuranceinthelast
2yearsCAGRat23%

TrackrecordofM&A
integrationwith
additionalopportunities

Revenuegrowthtargetof
$200to$225Mwith12%to
14%EBITDAby201718

2016Majesco.Allrightsreserved

MajescoFinancials
FaridKazani,CFO,MajescoandMD,MajescoLtd

35

2016Majesco.Allrightsreserved

CautionaryLanguageConcerningForwardLookingStatements
This presentation contains forwardlooking statements within the meaning of the safe harbor provisions of the Private Securities Litigation
Reform Act. These forwardlooking statements are made on the basis of the current beliefs, expectations and assumptions of management,
are not guarantees of performance and are subject to significant risks and uncertainty. These forwardlooking statements should, therefore,
be considered in light of various important factors, including those set forth in Majescos reports that it files from time to time with the
Securities and Exchange Commission and which you should review, including those statements under Item 1A Risk Factors in Majescos
Annual Report on Form 10K.
Important factors that could cause actual results to differ materially from those described in forwardlooking statements contained in this
presentation include, but are not limited to: integration risks; changes in economic conditions, political conditions, trade protection
measures, licensing requirements and tax matters; technology development risks; intellectual property rights risks; competition risks;
additional scrutiny and increased expenses as a result of being a public company; the financial condition, financing requirements, prospects
and cash flow of Majesco; loss of strategic relationships; changes in laws or regulations affecting the insurance industry in particular;
restrictions on immigration; the ability and cost of retaining and recruiting key personnel; the ability to attract new clients and retain them
and the risk of loss of large customers; continued compliance with evolving laws; customer data and cybersecurity risk; and Majescos ability
to raise capital to fund future growth.
These forwardlooking statements should not be relied upon as predictions of future events and Majesco cannot assure you that the events
or circumstances discussed or reflected in these statements will be achieved or will occur. If such forwardlooking statements prove to be
inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by Majesco or any other
person that we will achieve our objectives and plans in any specified timeframe, or at all. You are cautioned not to place undue reliance on
these forwardlooking statements, which speak only as of the date of this presentation. Majesco disclaims any obligation to publicly update
or release any revisions to these forwardlooking statements, whether as a result of new information, future events or otherwise, after the
date of this press release or to reflect the occurrence of unanticipated events, except as required by law
36
36

2016Majesco.Allrightsreserved

MajescoLimited P&LHighlights FY2016

Q4FY2016
(Rs. Crore)

Q3FY2016
(Rs.Crore)

FY2016
(Rs.Crore)

FY2016
(InUSDmn)

Incomefrom Operations

221.6

198.0

757.1

115.4

Operating Expenses

218.9

200.7

747.2

113.8

EBITDA

2.7

(2.7)

9.9

1.5

EBITDA%

1.2%

1.4%

1.3%

1.3%

Depreciation &Amortization

3.8

4.2

17.9

2.7

OtherIncome

2.2

1.2

9.1

1.4

FinanceCosts

1.8

1.0

4.3

0.7

Exceptional Items(incl restructuring)

0.0

0.6

(4.6)

0.7

Profit beforetaxes

(0.7)

(7.4)

(7.8)

(1.2)

Taxespaid/(benefit)

3.0

(17.5)

(15.0)

(2.3)

NetProfit aftertaxes

(3.7)

10.1

7.3

1.1

MinorityInterest

(1.7)

(2.2)

0.4

0.1

NetProfit afterMinorityInterest

(2.0)

7.9

6.9

1.1

NPAT %

0.9%

4.0%

0.9%

0.9%

Particulars

37
37

2016Majesco.Allrightsreserved

Q4FY2016Revenue
growthof11.9%
Q4EBITDAat1.2%
FY2016revenuegrowth
at42%
FY2016NetProfitat0.9%

QuarteronQuarterRevenueandAdjustedEBITDA
InINRCrore
10.0%

250
200

Revenue

5.7%
5.0%

150
1.2%

0.7%

0.0%

1.4%
50
150

187

198

222

Q1FY16

Q2FY16

Q3FY16

Q4FY16

Revenue

5.0%

AdjustedEBITDA%

Note : The above EBITDA % given is Before Exceptional Item

38

38

AdjustedEBITDA
%torevenue

100

In INRCrore

2016Majesco.Allrightsreserved

FY2016
757.1
9.9
1.3%

MajescoLimited BalanceSheetasofMarch31,2016
Particulars

InINR Crore

Assets
Current Assets
Cash&CashEquivalent
Accountreceivables
OtherCurrentAssets

127.2
157.0
84.0

Total CurrentAssets

363.2

Property &Equipment
Goodwill&otherintangibles
OtherNonCurrentAssets

33.2
226.2
52.2

TotalAssets

674.8

39
39

Total CurrentLiabilities
NonCurrentLiabilities
TotalDebt

181.7
53.0
91.9

Total Liabilities

326.6

ShareholdersEquity

275.9

TotalLiabilities&Shareholders Equity

602.5

MinorityInterest

72.3

TotalLiabilities

NetCash Rs.35.3crore
DSOs@84days

Liabilities &StockholdersEquity

IncreaseinGoodwill&Intangibles
relatedtoAgile&CoverAll

2016Majesco.Allrightsreserved

674.8

MajescoLimited CashFlowStatementFY2016
Particulars

InINRCrore

CashFlowFromOperatingActivities
(3)

(Loss)beforeexceptionalitemandtax
Adjustment:
Depreciationandamortisation
Changesinworkingcapital

(18)

Other Adjustments
NetCashusedinOperatingActivities

(5)

CashFlowFromInvestingActivities
PaymentforacquisitionofMastekAsiaPacificPte.Ltd.
Purchase offixedassets

(2)
3
(37)

NetCashusedinInvestingActivities
NetCashgeneratedfromFinancingActivities

60

Effect ofchangesinforeignexchangerates

(3)

NetIncreaseinCashandCashEquivalentsduringtheyear

12

Cashandcashequivalentsatthebeginningoftheyear

40

(5)
(8)

(38)

Others

40

18

Cashreceivedon schemeofarrangementandacquisitionof
companies
CashandCashEquivalentsattheendoftheyear

2016Majesco.Allrightsreserved

2
113
127

HistoricalFinancials Majesco USEntityLevel(Consolidated)

In$Million

FY2016

FY2015

FY2014

Revenue

113.3

79.3

82.8

GM%

44.5%

38.5%

44.8%

% toRevenue

SG&A%

34.1%

26.5%

27.5%

TopClient

10.2%

8.7%

R&D %

14.4%

13.0%

12.2%

Top 5Clients

26.5%

30.9%

RestructuringExp %

0.0%

1.4%

0.0%

Top 10Clients

40.7%

46.3%

EBIT%

3.9%

2.5%

5.1%

Adjusted EBITDA%

0.5%

3.8%

8.2%

FY2016

FY2015

RevenueBreak Up
(In$Million)
Insurance
NonInsurance
Total

FY 2014

110.2

74.9

73.4

3.1

4.4

9.4

113.3

79.3

82.8

ClientConcentration%
FY2016

FY2015

The Insurance revenue grew 23% CAGR (201416).

Revenue in FY 2014 included $10 million from a client whose
business was put on hold post March 2014, which has resumed in
Q4 FY 2016
Gross Margins although impacted in FY 2015 due to revenue drop
as mentioned above, pulled back strongly in FY 2016 with growth
momentum in P&C and L&A.
FY 2016 has been the year of investment with increased spends in
R&D and S&M up by 74%

41 EBITDA and Adjusted EBITDA are not defined under U.S. generally2016Majesco.Allrightsreserved
Note : The terms
accepted accounting principles (U.S. GAAP), and are not a measure of operating income, operating
performance or liquidity presented in accordance with U.S. GAAP. A reconciliation of Net Income to EBITDA and Adjusted EBITDA are provided in Slide 48 of this deck.

MajescoRevenueAnalysis FY2016
RevenueByLineofBusiness

RevenueByOfferings

2.9%
14.0% 8.0%
19.2%
17.5%
77.9%
60.4%
Property&Casualty

Life&Annuities

NonInsurance

License

ProfessionalServices

RevenueByRegion
4.9%
7.7%

ClientConcentration%
% toRevenue

FY2016

Top 5Clients

26.1%

Top 10Clients

40.0%

87.4%
42 42

NorthAmerica

UK

Others

2016Majesco.Allrightsreserved

Cloud

Support

RevenueCompositionforFY2015&FY2016
FY2015

FY2016

9.8%

14.0%

86.0%

90.2%
ExistingAccount

43 43

NewAccount

ExistingAccount

2016Majesco.Allrightsreserved

NewAccount

QuarterlyTrendsof12MonthExecutableBacklog

12MonthExecutableBacklog

12MonthBacklogasofMarch31,2016
$73.1Million

In$Million

80.0

60.0

Q4Sequentialquartergrowth 14.5%
YonYgrowth 46%

40.0

Strongopeningbacklogtoprovidegood
baseforFY2017revenuegrowth
TotalOrderBookinginFY2016 $158.1
millionreflectinggoodbuildupinboth
P&CandL&A

20.0

0.0

44

44

64.2

54.8

63.8

73.1

Q1FY16

Q2FY16

Q3FY16

Q4FY16

2016Majesco.Allrightsreserved

QuarteronQuarterR&DSpendinFY2016
InINRCrore
20.0%

35.0
30.0
25.0
20.0
15.0

14.9%

14.3%

14.1%

15.0%

13.1%

Spendsincreasedby
57.3%YonY

10.0
5.0
0.0

20.3

28.1

28.5

31.5

Q1FY16

Q2FY16

Q3FY16

Q4FY16

R&DSpend

%ofTotalIncome

NB:AllProductR&DexpensesareexpensedoutinP&L

45

45

TotalR&DSpendsofRs.
108.5crorerepresenting
14.3%ofrevenue

2016Majesco.Allrightsreserved

10.0%

AccountPenetrationandRevenueModel AnExample
Typicallifeofproductengagement onCloud
8.0

1.2

7.0

6.0

0.7

CrosssellothersolutionandServices

5.0

2.5

2.0

3.1

2.4

4.0
3.0

ImplementationNewLOB&StateExpansion

0.4

3.1

3.2

3.3

Year2

Year3

Year4

0.3

2.1

1.0

1.0

Year1

Stage

46

46

PreProduction

OnGoingPostProduction

2016Majesco.Allrightsreserved

Implementation
Maintenance&HostingServices(ASP)

MajescoGoals RevenueandProfitability
FY 2015

FY2016

Goals
FY2018

79.3

113.3

200 225

Gross Profit%

38.5%

44.5%

49 50%

Sales &Marketing %

10.3%

15.1%

13 14%

Gen &Admin%

16.2%

18.7%

14 15%

Research &Development%

13.0%

14.4%

12%

OperatingEBIT

1.1%

3.6%

8 11%

Depreciation&Amortization

4.8%

4.1%

3 4%

AdjustedEBITDA

3.8%

0.5%

12 14%

Revenue(In$Million)

Note :
1. The above financial goals have been reflected at Majesco US entity level (Consolidated)
2. The terms EBITDA and Adjusted EBITDA are not defined under U.S. generally accepted accounting principles (U.S. GAAP), and are
not a measure of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. A reconciliation of Net
Income to EBITDA and Adjusted EBITDA are provided in Slide 48 of this deck.
47

47

2016Majesco.Allrightsreserved

ReconciliationofNetIncometoAdjustedEBITDA
In$Million

FY2016

FY 2015

(3.6)

(0.7)

Provision/(Benefit)forIncomeTaxes
Depreciation&Amortization
InterestExpenses/OtherIncome

(1.2)
3.8
0.6

(0.1)
2.4
(1.2)

EBITDA

(0.6)

(0.5)

Restructuringcosts
StockBasedCompensation
ReversalofaccruedIncome

0.5
0.7
0.0

1.1
0.0
1.4

AdjustedEBITDA

0.6

3.0

0.5%

3.8%

NetIncome /(Loss)beforetaxes
Add :

Add:

Adjusted EBITDAas%ofRevenue
48
48

2016Majesco.Allrightsreserved

ThankYou

49

2016Majesco.Allrightsreserved