The latest set of results brings TDCX’s net profit for the full-year to S$120.1 million.
This translates to a net profit margin of 18.3 per cent and EPS of S$0.83.
These are all up from earnings of S$104.9 million, a margin of 15.8 per cent, and S$0.72 EPS for FY2022.
The group’s chief executive and founder Laurent Junique said dampened business sentiments amid market uncertainties and a challenging macroeconomic environment had a “knock-on impact” on TDCX this year.
“Despite these pressures, we delivered within our guidance and remain focused on the long term, particularly on improving our operations and delivering client value propositions.”
Junique is in the midst of acquiring and privatising TDCX in a deal that implies an equity value of about US$1.04 billion.
After launching a proposal to take the company private at US$6.60 apiece in January this year, the chief executive and his associates in March entered into a definitive agreement to acquire remaining unowned shares in TDCX through a parent-subsidiary merger.
Also known as a “short-form” merger, the deal is expected to close in the second quarter of 2024.
Junique and his affiliates presently own 86.1 per cent of TDCX’s existing shares, which translates to 98.4 per cent of the aggregate voting power of the company.
In the latest deal, Class A and B shareholders – whose ordinary shares each hold a par value of S$0.001 – would be entitled to US$7.20 in cash apiece for the cancellation of their shares.
Holders of American depositary shares (ADS) are offered the same for the cancellation of their shares, which represent one Class A share per ADS.
Meanwhile, those who hold vested warrants in the company will receive US$7.19 in cash per warrant cancelled.
On Mar 1, TDCX said the consideration represents a premium of 48 per cent to the company’s ADSs on Dec 29, 2023, which is the last trading day prior to the company’s receipt of Junique’s Jan 2 offer.
It also represents a premium of 17 per cent to the closing price of the company’s ADSs on Feb 29 this year, which was the last trading day before the merger agreement took effect.
