Mindteck (India) Ltd

Mindteck (India) Ltd

₹ 203 -1.98%
28 Mar - close price
About

Mindteck is an engineering and technology solutions company incorporated in 1991. Mindteck has considerable experience in E-commerce and Embedded Systems. The company has completed the acquisition of Infotech Holdings Inc, a company which is engaged in IT software consultancy and has become a subsidiary from July 2001. [1] [2]
Their global footprint spans the US, Canada, India, Europe, the APAC region (Singapore, Malaysia and Philippines), and the Middle East (Bahrain). They also have two Development Centers – Kolkata and Bengaluru.
Mindteck (India) Limited has seven wholly-owned subsidiaries and three step-down subsidiaries as at March 31, 2020. [3]

Key Points

Products & Services
Industries Catered: Healthcare, Life Sciences & Chemical Analysis, Semiconductor & Storage.
Product Engineering - encompasses core competencies in embedded design; application development, product lifecycle management.
Digital Engineering - selected solutions, services, and technologies which complement the product engineering portfolio and help clients compete, innovate, and propel forward.
Data Services - encompasses aggregation, visualization and analytics. Features include advanced predictive and prescriptive analytics using technologies such as ML & AI.
Development of an IoT Framework.
Cloud - Hybrid Cloud Appliance and Interoperable Cloud Storage, Business Data Analytics.
Testing - Co’s end-to-end testing discipline encompasses manual black box testing, test automation, security/penetration tests,and related. [1]

  • Market Cap 515 Cr.
  • Current Price 203
  • High / Low 280 / 100
  • Stock P/E 29.5
  • Book Value 60.2
  • Dividend Yield 0.49 %
  • ROCE 13.4 %
  • ROE 10.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 50.8% CAGR over last 5 years

Cons

  • Stock is trading at 3.38 times its book value
  • The company has delivered a poor sales growth of 7.93% over past five years.
  • Company has a low return on equity of 8.57% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
28.40 22.27 27.33 30.48 27.52 28.92 31.38 32.96 31.56 33.61 34.42 34.50 34.67
23.43 20.52 23.08 25.99 24.48 23.55 26.27 28.43 27.01 26.67 28.82 28.79 28.79
Operating Profit 4.97 1.75 4.25 4.49 3.04 5.37 5.11 4.53 4.55 6.94 5.60 5.71 5.88
OPM % 17.50% 7.86% 15.55% 14.73% 11.05% 18.57% 16.28% 13.74% 14.42% 20.65% 16.27% 16.55% 16.96%
0.73 0.26 0.45 0.42 0.88 1.18 1.07 0.64 1.05 0.53 1.08 1.03 1.05
Interest 0.25 0.23 0.18 0.10 0.08 0.14 0.14 0.14 0.16 0.16 0.14 0.12 0.11
Depreciation 1.41 1.29 1.28 1.12 1.08 1.17 1.12 1.00 1.07 1.08 1.08 1.07 1.07
Profit before tax 4.04 0.49 3.24 3.69 2.76 5.24 4.92 4.03 4.37 6.23 5.46 5.55 5.75
Tax % 59.90% 75.51% 29.01% 31.71% 18.12% 25.57% 20.12% 26.80% 30.66% 20.39% 27.47% 25.23% 23.13%
1.62 0.12 2.30 2.52 2.26 3.90 3.93 2.95 3.03 4.96 3.96 4.15 4.42
EPS in Rs 0.63 0.05 0.90 0.98 0.88 1.52 1.53 1.14 1.18 1.96 1.57 1.64 1.75
Raw PDF
Upcoming result date: 17 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
56 58 76 80 87 84 88 108 92 104 114 130 137
54 54 56 62 74 78 85 97 85 86 98 109 113
Operating Profit 2 4 19 19 13 6 4 10 7 18 17 21 24
OPM % 4% 6% 26% 23% 15% 7% 4% 9% 8% 18% 15% 16% 18%
0 0 1 1 2 3 2 2 -58 3 3 4 4
Interest 0 0 0 0 0 0 0 1 2 1 0 1 1
Depreciation 1 0 1 2 2 1 1 2 6 6 5 4 4
Profit before tax 2 3 19 18 14 7 4 10 -59 14 15 20 23
Tax % 53% 46% 38% 36% 39% 37% 55% 30% -1% 39% 26% 24%
1 2 12 11 8 4 2 7 -59 9 11 15 17
EPS in Rs 0.30 0.71 4.81 4.58 3.26 1.73 0.75 2.81 -23.12 3.33 4.27 5.89 6.92
Dividend Payout % 0% 0% 20% 22% 31% 58% 134% 36% 0% 0% 23% 17%
Compounded Sales Growth
10 Years: 8%
5 Years: 8%
3 Years: 12%
TTM: 10%
Compounded Profit Growth
10 Years: 24%
5 Years: 51%
3 Years: 112%
TTM: 27%
Stock Price CAGR
10 Years: 22%
5 Years: 43%
3 Years: 70%
1 Year: 95%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 9%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 24 25 25 25 25 25 26 26 26 26 26 25 25
Reserves 119 121 130 142 148 153 154 160 96 105 116 121 127
0 3 0 0 0 1 0 0 12 7 8 6 4
8 6 13 20 21 15 23 28 22 19 20 18 21
Total Liabilities 152 155 168 187 194 195 203 213 156 157 170 169 177
2 2 4 4 3 2 9 13 22 9 10 7 6
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 123 123 123 123 123 123 132 137 68 67 67 67 67
27 30 41 60 68 69 62 63 66 81 93 95 104
Total Assets 152 155 168 187 194 195 203 213 156 157 170 169 177

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-0 -2 13 11 15 -5 0 -0 6 21 20 10
-0 -1 -2 -1 1 2 -13 -3 12 -25 -19 6
0 3 -3 -3 -3 -1 -3 -3 -8 -4 -3 -15
Net Cash Flow -1 0 7 8 13 -5 -16 -7 10 -9 -3 2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 61 63 51 85 61 64 78 88 77 92 80 86
Inventory Days
Days Payable
Cash Conversion Cycle 61 63 51 85 61 64 78 88 77 92 80 86
Working Capital Days 48 39 19 23 5 64 58 77 75 62 50 63
ROCE % 1% 2% 13% 11% 8% 4% 2% 6% 2% 11% 11% 13%

Shareholding Pattern

Numbers in percentages

3 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
64.13% 64.09% 64.01% 63.91% 63.90% 63.84% 63.79% 64.40% 65.04% 65.01% 64.93% 64.91%
0.00% 0.00% 0.14% 0.38% 0.21% 0.30% 0.24% 0.22% 0.20% 0.21% 0.20% 0.20%
34.25% 34.29% 34.23% 34.09% 34.27% 34.24% 34.35% 33.74% 33.11% 33.13% 33.23% 33.23%
1.62% 1.62% 1.62% 1.62% 1.62% 1.62% 1.61% 1.63% 1.65% 1.65% 1.64% 1.64%
No. of Shareholders 9,84311,11914,74019,29722,32822,88622,85520,78319,96219,80919,27220,710

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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