Mindteck (India) Ltd

Mindteck (India) Limited is a global technology company, which is engaged in providing software, information technology (IT)-enabled and related services.

Pros:
Company has reduced debt.
Company is virtually debt free.
Stock is trading at 0.50 times its book value
Cons:
The company has delivered a poor growth of 2.35% over past five years.
Company has a low return on equity of -7.51% for last 3 years.
Earnings include an other income of Rs.2.85 Cr.

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

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
79.23 89.43 86.30 86.70 77.76 75.44 71.74 71.91 74.54 74.52 70.05 80.30
76.11 84.70 86.57 83.30 75.91 73.60 71.07 75.15 73.08 73.12 70.73 78.08
Operating Profit 3.12 4.73 -0.27 3.40 1.85 1.84 0.67 -3.24 1.46 1.40 -0.68 2.22
OPM % 3.94% 5.29% -0.31% 3.92% 2.38% 2.44% 0.93% -4.51% 1.96% 1.88% -0.97% 2.76%
Other Income 0.73 0.68 0.55 0.64 0.66 -1.05 0.38 0.62 0.44 1.55 0.27 0.59
Interest 0.09 0.11 0.12 0.07 0.11 0.10 0.17 0.17 0.25 0.43 0.36 -0.04
Depreciation 0.47 0.49 0.38 0.36 0.30 0.31 0.31 0.38 0.44 0.65 0.43 0.37
Profit before tax 3.29 4.81 -0.22 3.61 2.10 0.38 0.57 -3.17 1.21 1.87 -1.20 2.48
Tax % 11.55% 32.22% -86.36% 8.86% 24.76% 21.05% 33.33% -149.21% 66.94% 53.48% -0.00% -7.66%
Net Profit 2.90 3.25 -0.41 3.29 1.58 0.30 0.38 -7.90 0.40 0.87 -1.20 2.67
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

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

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
99.76 125.32 282.14 226.54 240.87 222.62 264.32 328.81 319.15 311.63 341.66 296.84 299.41
93.72 130.59 273.76 219.95 231.54 224.33 260.66 299.84 289.98 290.95 330.68 295.56 295.01
Operating Profit 6.04 -5.27 8.38 6.59 9.33 -1.71 3.66 28.97 29.17 20.68 10.98 1.28 4.40
OPM % 6.05% -4.21% 2.97% 2.91% 3.87% -0.77% 1.38% 8.81% 9.14% 6.64% 3.21% 0.43% 1.47%
Other Income 0.15 4.60 9.42 3.80 4.81 0.57 0.44 0.94 0.91 2.24 2.60 0.44 2.85
Interest 2.40 1.85 1.40 0.71 0.38 0.31 0.50 0.49 0.31 0.32 0.39 0.55 1.00
Depreciation 0.99 1.50 2.36 3.92 2.38 1.68 1.08 0.89 1.96 1.82 1.70 1.30 1.89
Profit before tax 2.80 -4.02 14.04 5.76 11.38 -3.13 2.52 28.53 27.81 20.78 11.49 -0.13 4.36
Tax % 12.14% -30.10% 21.79% 41.84% 19.68% -61.66% 57.94% 34.77% 31.00% -24.78% 19.15% -4,253.85%
Net Profit 2.46 -5.23 10.98 3.35 9.14 -5.06 1.06 18.61 19.20 25.93 9.29 -5.65 2.74
EPS in Rs 2.09 0.00 4.51 1.38 3.75 0.00 0.43 7.40 7.58 10.27 3.72 0.00
Dividend Payout % 39.55% -20.06% 0.00% 0.00% 0.00% -0.00% 0.00% 13.20% 12.84% 9.55% 26.88% -44.62%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.01%
5 Years:2.35%
3 Years:-2.39%
TTM:0.86%
Compounded Profit Growth
10 Years:30.78%
5 Years:%
3 Years:%
TTM:-148.58%
Return on Equity
10 Years:1.06%
5 Years:-0.50%
3 Years:-7.51%
Last Year:-40.22%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
14.14 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 5.13 53.66 90.36 92.07 101.84 100.75 103.50 121.76 138.12 163.77 170.22 163.83 170.22
Borrowings 20.29 7.91 9.95 2.16 0.57 0.00 4.16 0.00 0.00 0.00 1.01 0.01 0.00
23.24 55.15 55.79 35.93 33.71 32.32 37.35 48.60 56.47 42.79 44.17 46.49 43.78
Total Liabilities 58.39 137.70 180.45 154.51 160.47 157.52 169.53 194.92 219.24 231.32 240.37 235.54 239.21
25.56 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 0.00 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 0.00 8.10 13.51
32.83 68.76 84.45 62.60 70.12 67.64 79.66 103.31 127.32 140.50 150.13 130.38 124.91
Total Assets 58.39 137.70 180.45 154.51 160.47 157.52 169.53 194.92 219.24 231.32 240.37 235.54 239.21

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
-1.18 8.80 8.87 2.35 3.59 9.59 -5.74 14.37 22.97 17.05 -11.59 3.87
-1.39 -6.44 -11.62 -1.67 -0.22 -4.71 -1.11 -2.43 -1.20 0.79 1.35 -8.44
1.24 10.84 1.01 -8.37 -2.28 -0.35 3.95 -4.25 -2.77 -1.69 -1.15 -3.37
Net Cash Flow -1.33 13.20 -1.74 -7.69 1.09 4.53 -2.90 7.69 19.00 16.15 -11.40 -7.95

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 13.37% -3.53% 14.49% 5.24% 9.51% -2.25% 2.34% 20.81% 18.20% 12.01% 6.18% 1.07%
Debtor Days 71.09 93.93 67.13 57.47 59.87 55.79 64.46 63.11 70.55 67.93 75.00 70.51
Inventory Turnover