Mindtree Ltd

₹ 3,434 None%
22 Nov 2022
About

Mindtree is an international Information Technology consulting and implementation company that delivers business solutions through global software development.

Key Points

History[1] MindTree was incorporated in 1999 by a group of 10 industrial professionals who came from Cambridge Technology Partners, Lucent Technologies, and Wipro, and this team was led by Ashok Soota. Mindtree has formed successful business and technology alliances with big companies like Microsoft, Hewlett Packard, Oracle, Bluettooth SIG, Intel, IBM, SAP, Orange, Sun Microsystems, etc.

  • Market Cap 56,643 Cr.
  • Current Price 3,434
  • High / Low 4,479 / 2,649
  • Stock P/E 30.0
  • Book Value 344
  • Dividend Yield 1.08 %
  • ROCE 41.5 %
  • ROE 33.8 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 31.6% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.6%
  • Company has been maintaining a healthy dividend payout of 32.6%
  • Company's median sales growth is 17.5% of last 10 years

Cons

  • Stock is trading at 9.99 times its book value
  • Promoter holding has decreased over last 3 years: -12.8%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
1,914 1,965 2,050 1,909 1,926 2,024 2,109 2,292 2,586 2,750 2,897 3,121 3,400
1,666 1,659 1,727 1,587 1,536 1,556 1,647 1,827 2,056 2,158 2,289 2,463 2,704
Operating Profit 248 306 324 322 390 468 463 464 531 592 608 658 697
OPM % 13% 16% 16% 17% 20% 23% 22% 20% 21% 22% 21% 21% 20%
20 35 18 41 24 62 39 72 75 71 90 40 49
Interest 14 13 13 13 13 13 11 13 12 13 12 12 14
Depreciation 71 70 68 60 57 72 71 58 61 63 60 60 65
Profit before tax 183 258 261 290 345 445 419 465 532 587 626 626 667
Tax % 26% 24% 21% 26% 26% 27% 24% 26% 25% 25% 24% 25% 24%
Net Profit 135 197 206 213 254 326 317 343 399 438 473 472 509
EPS in Rs 8.20 11.97 12.53 12.94 15.40 19.82 19.27 20.85 24.21 26.55 28.71 28.62 30.85
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,509 1,915 2,362 3,032 3,562 4,673 5,236 5,463 7,022 7,764 7,968 10,525 12,169
1,331 1,622 1,909 2,422 2,853 3,852 4,532 4,722 5,957 6,683 6,311 8,330 9,614
Operating Profit 178 293 452 610 709 821 704 740 1,064 1,082 1,657 2,196 2,555
OPM % 12% 15% 19% 20% 20% 18% 13% 14% 15% 14% 21% 21% 21%
24 38 35 50 84 84 55 190 89 76 152 307 249
Interest 0 0 1 0 0 16 19 17 3 53 50 50 50
Depreciation 71 70 62 81 102 166 186 172 164 275 260 242 248
Profit before tax 130 262 424 578 691 723 555 742 987 829 1,498 2,211 2,506
Tax % 22% 16% 20% 22% 22% 24% 25% 23% 24% 24% 26% 25%
Net Profit 102 218 339 451 536 552 419 570 754 631 1,110 1,653 1,891
EPS in Rs 6.33 13.49 20.34 27.03 32.04 32.93 24.92 34.78 45.93 38.33 67.43 100.30 114.73
Dividend Payout % 10% 7% 15% 23% 27% 49% 40% 32% 72% 34% 37% 27%
Compounded Sales Growth
10 Years: 19%
5 Years: 15%
3 Years: 14%
TTM: 35%
Compounded Profit Growth
10 Years: 23%
5 Years: 32%
3 Years: 30%
TTM: 36%
Stock Price CAGR
10 Years: 33%
5 Years: 35%
3 Years: 57%
1 Year: -8%
Return on Equity
10 Years: 26%
5 Years: 27%
3 Years: 29%
Last Year: 34%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
40 40 42 42 84 168 168 164 164 165 165 165 165
Reserves 736 917 1,272 1,599 1,929 2,247 2,409 2,578 3,142 2,992 4,154 5,309 5,504
5 45 25 3 3 44 100 301 1 567 538 556 613
234 332 352 456 640 818 714 694 872 1,433 1,505 2,128 2,183
Total Liabilities 1,014 1,335 1,691 2,099 2,655 3,277 3,391 3,736 4,179 5,157 6,361 8,157 8,465
301 259 259 344 556 1,162 1,022 957 967 1,409 1,276 1,375 1,460
CWIP 0 8 57 50 35 23 19 9 30 14 22 22 2
Investments 111 308 426 534 535 233 593 726 804 775 2,047 2,551 2,465
603 759 949 1,173 1,529 1,859 1,757 2,044 2,379 2,959 3,016 4,210 4,539
Total Assets 1,014 1,335 1,691 2,099 2,655 3,277 3,391 3,736 4,179 5,157 6,361 8,157 8,465

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
43 206 266 322 598 421 654 564 630 825 1,996 1,537
-38 -228 -189 -217 -203 -416 -459 -200 -180 6 -1,205 -650
0 36 -12 -111 -138 -172 -138 -288 -522 -696 -422 -596
Net Cash Flow 6 14 65 -7 258 -167 57 77 -72 135 369 292

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 68 78 70 72 71 76 62 68 69 68 58 60
Inventory Days
Days Payable
Cash Conversion Cycle 68 78 70 72 71 76 62 68 69 68 58 60
Working Capital Days 65 34 43 48 34 50 38 51 51 34 17 23
ROCE % 18% 29% 35% 38% 36% 33% 22% 27% 31% 25% 36% 42%

Shareholding Pattern

Numbers in percentages

5 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
73.64 74.11 73.49 67.59 61.03 61.03 61.02 61.00 61.00 60.99 60.99 60.95
10.46 11.86 10.39 12.02 13.27 13.92 13.66 15.01 15.72 14.40 11.69 12.06
6.24 5.78 7.88 11.97 10.62 10.86 11.99 10.11 9.71 10.47 12.06 11.82
9.65 8.25 8.24 8.42 15.08 14.19 13.33 13.88 13.57 14.15 15.26 15.13
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.03

* 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.

Click on the line-items to see the names of individual entities.

Documents

Concalls