Mindtree Q4 FY 22 Research Tear Sheet

Mindtree Ltd is an Indian multinational company. It mainly deals in  information technology services and consulting. The company was founded on 18 August 1999. The company is headquartered in Bangalore, India. Mindtree has focused on growth to sustain itself in the long run. The company has 35000 talented professionals across 24 countries. The parent company of Mindtree is  Larsen & Toubro Group. The stocks are traded both on BSE and NSE.

Key Financial Highlights

Rs million	Q4 FY21	Q4 FY22
Revenue	21,093	28,974
EBITDA	4,626	6,083
EBIT	3,913	5,487
PAT	3,173	4,731

$ million	Q4 FY21	Q4 FY22
Revenue	288.2	383.8
EBITDA	63.2	80.6
EBIT	53.5	72.7
PAT	43.3	62.7

Standalone Highlights

Revenue grew 4.8% q-o-q / 33.2% y-o-y to $383.8 million in USD. The Net profit  grew by 7.6% q-o-q / 44.8% y-o-y) to $62.7 million in USD. Revenue increased by 5.4% q-o-q / 37.4 % y-o-y to ₹28,974 million in Q4 FY22 in terms of INR. Net profit increased by 8.1% q-o-q / 49.1 % y-o-y  to ₹4,731 million in terms of INR.

Consolidated Highlights

In terms of USD, the Revenue increased by 31.1% to $1410.8 million. The Net profit grew by 47.7% to $221.6 million. In terms of INR, the increase in revenue is 32.1% to ₹105,253 million and Net profit stood at ₹16,529 million, improved by 48.8%.

Revenue by Industry	Q4 FY21	Q4 FY22
BFSI	18.40%	18.20%
Communications, Media & Technology	45.80%	43.30%
Retail, CPG & Manufacturing	22.10%	22.60%
Travel, Transportation & Hospitality	12.70%	14.40%
HealthCare	1.00%	1.50%

The Retail, CPG and Manufacturing has declined 2.4% sequentially driven by a ramp down in a retail account.  The BFSI Sector grew 19%, CMT grew 23% and retail grew by 45%. The travel sector grew  54% with the decrease in pandemic. The healthcare business contributed health business contributed $17.3 million of the total revenue.

 Management Updates

Net headcount for FY ’22 is over 11,200 an increase of 47.3% and global headcount is more than 25,000 in FY 22.

Cash and investments reached to $474.6 million.

The Board of Directors has announced a final dividend of 27 per equity share of par value ₹10 each.

Mindtree has launched AI/ML powered platform to manage their service experience in multi-provider environment. 

Business Updates

33 new logos are added with focused on up-selling and cross-selling.

Mindtree has expanded its presence in Germany, Finland and Denmark and Europe with a center in Poland. It has also expanded delivery footprint in India, with an additional facility in Pune and with its first development center in Kolkata.

Mindtree has signed a contract with the U.S. flagship airline to support core airline systems, including commercial, operations and enterprise IT, through business verification testing services.

Mindtree has been selected  by a U.S.-based managed healthcare and insurance company for digital transformation and modernization work.