Mindteck (India) Ltd

Mindteck (India) Ltd is engaged in the business of rendering engineering and IT services to customers across various industry verticals in specific service horizontals. Mindtecks core offerings are in Product Engineering, Application Software, Electronic Design, Testing and Enterprise Business services.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.49 times its book value
Company has been maintaining a healthy dividend payout of 24.76%
Cons:
The company has delivered a poor growth of -1.86% over past five years.
Company has a low return on equity of -11.47% for last 3 years.
Earnings include an other income of Rs.2.75 Cr.

Peer Comparison Sector: IT - Software // Industry: Computers - Software - Medium / Small

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
89.43 86.30 86.70 77.76 75.44 71.74 71.91 74.54 74.52 70.05 80.30 68.54
84.70 86.57 83.30 75.91 73.60 71.07 75.15 73.08 73.12 70.73 78.08 65.83
Operating Profit 4.73 -0.27 3.40 1.85 1.84 0.67 -3.24 1.46 1.40 -0.68 2.22 2.71
OPM % 5.29% -0.31% 3.92% 2.38% 2.44% 0.93% -4.51% 1.96% 1.88% -0.97% 2.76% 3.95%
Other Income 0.68 0.55 0.64 0.66 -1.05 0.38 0.62 0.44 1.55 0.27 0.59 0.34
Interest 0.11 0.12 0.07 0.11 0.10 0.17 0.17 0.25 0.43 0.36 -0.04 0.59
Depreciation 0.49 0.38 0.36 0.30 0.31 0.31 0.38 0.44 0.65 0.43 0.37 1.63
Profit before tax 4.81 -0.22 3.61 2.10 0.38 0.57 -3.17 1.21 1.87 -1.20 2.48 0.83
Tax % 32.22% -86.36% 8.86% 24.76% 21.05% 33.33% -149.21% 66.94% 53.48% -0.00% -7.66% 57.83%
Net Profit 3.25 -0.41 3.29 1.58 0.30 0.38 -7.90 0.40 0.87 -1.20 2.67 0.35
EPS in Rs 1.31 -0.17 1.32 0.63 0.11 0.15 -3.16 0.16 0.35 -0.47 1.05 0.14
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
125.32 282.14 226.54 240.87 222.62 264.32 328.81 319.15 311.63 341.66 296.84 299.41 293.41
130.59 273.76 219.95 231.54 224.33 260.66 299.84 289.98 290.95 330.68 295.59 295.01 287.76
Operating Profit -5.27 8.38 6.59 9.33 -1.71 3.66 28.97 29.17 20.68 10.98 1.25 4.40 5.65
OPM % -4.21% 2.97% 2.91% 3.87% -0.77% 1.38% 8.81% 9.14% 6.64% 3.21% 0.42% 1.47% 1.93%
Other Income 4.60 9.42 3.80 4.81 0.57 0.44 0.94 0.91 2.24 2.60 0.48 2.85 2.75
Interest 1.85 1.40 0.71 0.38 0.31 0.50 0.49 0.31 0.32 0.39 0.55 1.00 1.34
Depreciation 1.50 2.36 3.92 2.38 1.68 1.08 0.89 1.96 1.82 1.70 1.30 1.89 3.08
Profit before tax -4.02 14.04 5.76 11.38 -3.13 2.52 28.53 27.81 20.78 11.49 -0.12 4.36 3.98
Tax % -30.10% 21.79% 41.84% 19.68% -61.66% 57.94% 34.77% 31.00% -24.78% 19.15% -4,608.33% 37.16%
Net Profit -5.23 10.98 3.35 9.14 -5.06 1.06 18.61 19.20 25.93 9.29 -5.65 2.74 2.69
EPS in Rs 0.00 4.51 1.38 3.75 0.00 0.43 7.40 7.58 10.27 3.72 0.00 1.09 1.07
Dividend Payout % -20.06% 0.00% 0.00% 0.00% -0.00% 0.00% 13.20% 12.84% 9.55% 26.88% -44.62% 92.01%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:0.60%
5 Years:-1.86%
3 Years:-1.32%
TTM:-0.07%
Compounded Profit Growth
10 Years:-13.33%
5 Years:-32.36%
3 Years:-53.36%
TTM:139.44%
Return on Equity
10 Years:0.41%
5 Years:-2.29%
3 Years:-11.47%
Last Year:1.38%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
25.39 26.33 26.33 24.35 24.45 24.52 24.56 24.65 24.76 24.97 25.21 25.21
Reserves 53.66 90.36 92.07 101.84 100.75 103.50 121.76 138.12 163.77 170.22 163.55 166.60
Borrowings 7.91 9.95 2.16 0.57 0.00 4.16 0.00 0.00 0.00 1.01 0.01 0.00
55.15 55.79 35.93 33.71 32.32 37.35 48.60 56.47 42.79 44.17 46.77 49.28
Total Liabilities 137.70 180.45 154.51 160.47 157.52 169.53 194.92 219.24 231.32 240.37 235.54 241.09
68.94 96.00 91.91 90.35 89.88 89.87 91.61 91.92 90.82 89.87 97.06 100.79
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.37 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8.10 13.51
68.76 84.45 62.60 70.12 67.64 79.66 103.31 127.32 140.50 150.13 130.38 126.79
Total Assets 137.70 180.45 154.51 160.47 157.52 169.53 194.92 219.24 231.32 240.37 235.54 241.09

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
8.80 8.87 2.35 3.59 9.59 -5.74 14.37 22.97 17.05 -11.59 3.87 -12.88
-6.44 -11.62 -1.67 -0.22 -4.71 -1.11 -2.43 -1.20 0.79 1.35 -11.84 -1.57
10.84 1.01 -8.37 -2.28 -0.35 3.95 -4.25 -2.77 -1.69 -1.15 -3.37 -3.11
Net Cash Flow 13.20 -1.74 -7.69 1.09 4.53 -2.90 7.69 19.00 16.15 -11.40 -11.34 -17.56

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % -3.53% 14.49% 5.24% 9.51% -2.25% 2.34% 20.81% 18.20% 12.01% 6.18% 1.05% 2.62%
Debtor Days 93.93 67.13 57.47 59.87 55.79 64.46 63.11 70.55 67.93 75.00 70.51 86.22
Inventory Turnover