Slowly but surely the company is limping back and trying to put behind the nightmare of the Satyam scandal. Its been four years and finally after cleaning up its books and getting back to work, it has declared a 30% dividend for FY13. Its consolidated performance for Q4FY13 looks phenomenal, with net profit showing a whopping 468% (QoQ) leap at Rs.454 crore. But this was  thanks to the exceptional gain of Rs.134 crore. This was a one-time gain on account reversals related to impairment losses in subsidiaries. The company has been having these reversals for some time now; in Q3, it was an exceptional loss of Rs.294 crore. So to a large extent this gain, over the lower base effect also makes the profit for Q4 look exceptionally good. YoY, net profit has in fact dipped 15%.

But for this, the performance was flat. Revenue fell 0.2% (QoQ) at Rs.1936 crore. YoY, the picture looks better with a 16% increase. EBIDTA margins came in pretty healthy at 20.1%. At end of FY13, the company had 36,067 employees. It has 385 active clients. Cash and equivalents as at 31^st March 2013 stood at Rs.2922 crore. The big trigger for the stock will now be the much awaited merger with Tech Mahindra. Some 35 companies of Raju and his relatives have objected to the merger. They claim that they had lent Rs.1230 crore to company in several tranches during Raju’s time and they want their money back and thus got a stay. The new management has refuted this money as it has stated that there was no entry of this money being lent anywhere in the books. The minority shareholders too have objected over the swap ratio and filed a petition. The Andhra Pradesh High court has reserved its orders and is expected to announce a decision in June.