{"id":128505,"date":"2022-04-19T03:48:17","date_gmt":"2022-04-19T07:48:17","guid":{"rendered":"https:\/\/44.250.171.167\/?p=128505"},"modified":"2022-10-05T06:35:47","modified_gmt":"2022-10-05T10:35:47","slug":"mindtree-limited-q4-fy22-earnings-conference-call-summary","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/mindtree-limited-q4-fy22-earnings-conference-call-summary\/","title":{"rendered":"Mindtree Limited Q4 FY22 Earnings Conference Call Summary"},"content":{"rendered":"<p><iframe loading=\"lazy\" title=\"Mindtree Limited Q4 FY22 Earnings Concall\" width=\"500\" height=\"375\" src=\"https:\/\/www.youtube.com\/embed\/OW_DwFTpIbI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong>Key highlights from Mindtree Limited (<a href=\"https:\/\/44.250.171.167\/symbol\/MINDTREE\/\">MINDTREE<\/a>) Q4 FY22 Earnings Concall<\/strong><\/p>\n<p><strong>Management Update:<\/strong><\/p>\n<ul>\n<li>During the year, MINDTREE said it added 33 new logos, and grew the revenue share of its focus 100 accounts to nearly 90%. The number of $20 million accounts doubled from 7 to 14.<\/li>\n<\/ul>\n<ul>\n<li>MINDTREE reported that it is increasing investments in Metaverse Solutions and capabilities to extend its technology and design thinking leadership into an integrated consulting led Metaverse offering.<\/li>\n<\/ul>\n<ul>\n<li>MINDTREE\u2019s net headcount addition in FY22 was over 11,200, more than six times the headcount addition in FY21. Through FY23, MINDTREE expects its hiring of fresh graduates to increase significantly.<\/li>\n<\/ul>\n<p><strong>Q&amp;A Highlights:<\/strong><\/p>\n<ul>\n<li>Sandip Agarwal of Edelweiss asked about how difficult is the manpower situation compared to what\u2019s seen in 3Q22. Debashis Chatterjee, CEO said that MINDTREE have been trying to control attrition. Though LTM attrition is still on the rise, but MINDTREE expects it will stabilize and gradually come down over a period of time.<\/li>\n<\/ul>\n<ul>\n<li>Vibhor Singhal from PhillipCapital asked about salary hikes for FY23 and the quantum of it. Vinit Teredesai, CFO replied that on the salary hike, both offshore on-site and timing, MINDTREE\u2019s endeavor is to stick to the salary cycle in 2Q23. Salary hikes are expected to be in line with the industry requirements.<\/li>\n<\/ul>\n<ul>\n<li>Vibhor Singhal from PhillipCapital also asked that on the on-site level, if there is any incremental pressure that MINDTREE is facing because of higher global inflation that might require the company to give higher salary hikes than before. \u00a0Vinit Teredesai, CFO answered that there is nothing that the company is seeing differently at this point of time.<\/li>\n<\/ul>\n<ul>\n<li>Vimal Gohil with Union Mutual Fund asked if receivables should normalize going forward during the year. Debashis Chatterjee, CEO answered that 60 to 65 days is MINDTREE\u2019s sweet spot. And that\u2019s what the company intends to look at, and will try to maintain the DSO within that range.<\/li>\n<\/ul>\n<ul>\n<li>Vikas Ahuja of Antique Stockbroking asked if growth could be materially different from what was achieved in FY22 due to inflation in the U.S. or maybe slowdown in Europe. Venu Lambu, ED said that as of today the company has a robust pipeline, which MINDTREE is confident that it will continue to strengthen and grow in the near-term.<\/li>\n<\/ul>\n<ul>\n<li>Vikas Ahuja of Antique Stockbroking asked that excluding the pent-up part in FY22, if MINDTREE can replicate what it achieved in FY22, in FY23. Venu Lambu, ED replied that the company\u2019s endeavor is to deliver industry-leading growth in FY23. That\u2019s the aspiration and goal MINDTREE will work towards.<\/li>\n<\/ul>\n<ul>\n<li>Rishi Jhunjhunwala from IIFL asked about hiring, the significant delta between headcount growth of 47% vs. revenue growth of more like at 31%. Debashis Chatterjee, CEO said that as MINDTREE controls the attrition the difference should be reducing.<\/li>\n<\/ul>\n<ul>\n<li>Sidharth Vohra asked about the number of lateral hires versus fresher additions. Debashis Chatterjee, CEO replied that when the company does hiring, it\u2019s a combination of hiring. In the last two to three quarters, MINDTREE\u2019s hiring on the freshers is roughly in the range of 1,500 plus per quarter.<\/li>\n<\/ul>\n<ul>\n<li>Sidharth Vohra also asked about the company\u2019s utilization level of 83% for last 4-6 quarters and if it will be same or lower going forward. Debashis Chatterjee, CEO answered that ideally, the company\u2019s comfort level of utilization will be in the 80-82% range. And at some point of time, that normalization will also happen.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Mindtree Limited (MINDTREE) Q4 FY22 Earnings Concall Management Update: During the year, MINDTREE said it added 33 new logos, and grew the revenue share of its focus 100 accounts to nearly 90%. The number of $20 million accounts doubled from 7 to 14. MINDTREE reported that it is increasing investments in Metaverse [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":125416,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,392,8],"tags":[8588,5075],"class_list":["post-128505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-earnings","category-technology-stocks","tag-consulting","tag-it-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":126308,"url":"https:\/\/alphastreet.com\/india\/mindtree-limited-q3-fy22-earnings-conference-call-summary\/","url_meta":{"origin":128505,"position":0},"title":"Mindtree Limited Q3 FY22 Earnings Conference Call Summary","author":"Praveen","date":"January 14, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=9vUaU2Xrt0M Key highlights from Mindtree Limited (MINDTREE) Q3 FY22 Earnings Concall Management Update: MINDTREE commented that its North America geography contributed 73% to its revenue, which was the highest, while APAC and Middle East had the least contribution of 8.4%. On the service lines, customer success contributed the most of\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124205,"url":"https:\/\/alphastreet.com\/india\/mindtree-ltd-mindtree-q1-fy22-earnings-concall\/","url_meta":{"origin":128505,"position":1},"title":"Mindtree Ltd (MINDTREE) Q1 FY22 Earnings Concall","author":"Sahil_Anand","date":"July 13, 2021","format":false,"excerpt":"Mindtree Ltd (NSE:MINDTREE) Q1 FY22 Earnings Concall dated\u00a0Jul. 13, 2021","rel":"","context":"In &quot;Technology&quot;","block_context":{"text":"Technology","link":"https:\/\/alphastreet.com\/india\/category\/technology-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/Mindtree-Ltd-Q1-FY22-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":128555,"url":"https:\/\/alphastreet.com\/india\/mindtree-q4-fy-22-research-tear-sheet\/","url_meta":{"origin":128505,"position":2},"title":"Mindtree Q4 FY 22 Research Tear Sheet","author":"sreerupa","date":"April 20, 2022","format":false,"excerpt":"Mindtree Ltd\u00a0is an Indian\u00a0multinational company. It mainly deals in \u00a0information technology\u00a0services and\u00a0consulting. The company was founded on 18\u00a0August 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\u2026","rel":"","context":"In &quot;Research Summary&quot;","block_context":{"text":"Research Summary","link":"https:\/\/alphastreet.com\/india\/category\/research-summary\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131201,"url":"https:\/\/alphastreet.com\/india\/mindtree-limited-q1-fy23-earnings-conference-call-insights\/","url_meta":{"origin":128505,"position":3},"title":"Mindtree Limited Q1 FY23 Earnings Conference Call Insights","author":"Praveen","date":"July 18, 2022","format":false,"excerpt":"https:\/\/youtu.be\/DVMyf9tTYiY Key highlights from Mindtree Limited (MINDTREE) Q1 FY23 Earnings Concall Management Update: MINDTREE onboarded 4,700 employees in 1Q23, including more than 1,500 fresh graduates. LTM attrition for 1Q23 was 24.5%, which MINDTREE said would take a few more quarters to stabilize. Q&A Highlights: Mukul Garg of Motilal Oswal asked\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":134684,"url":"https:\/\/alphastreet.com\/india\/mindtree-limited-q2-fy23-earnings-conference-call-insights\/","url_meta":{"origin":128505,"position":4},"title":"Mindtree Limited Q2 FY23 Earnings Conference Call Insights","author":"Praveen","date":"October 14, 2022","format":false,"excerpt":"https:\/\/youtu.be\/ncmFwGPYoq4 Key highlights from Mindtree Limited (MINDTREE) Q2 FY23 Earnings Concall Management Update: [00:01:54] MINDTREE said its 1H23 signings crossed $1 billion for the first time in company history. [00:10:31] MINDTREE\u2019s 2Q23 LTM attrition was 24.1% and expects it to trend down further. [00:16:57] Subject to regulatory approvals, MINDTREE expects\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/MINDTREE-Q2FY23.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/MINDTREE-Q2FY23.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/MINDTREE-Q2FY23.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/MINDTREE-Q2FY23.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/MINDTREE-Q2FY23.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":126281,"url":"https:\/\/alphastreet.com\/india\/mindtree-earnings-all-you-need-to-know-about-mindtree-ltd-q3-2022-earnings-results\/","url_meta":{"origin":128505,"position":5},"title":"MINDTREE Earnings: All you need to know about Mindtree Ltd Q3 2022 earnings results","author":"Nishad","date":"January 13, 2022","format":false,"excerpt":"Mindtree Ltd\u00a0(NSE: MINDTREE)\u00a0reported its third-quarter 2022 earnings results today. The company posted a net profit of \u20b92,821 crores with a growth of 35% year on year. Mindtree had a net profit of \u20b9437 crores or \u20b926.50 per share compared to \u20b9326 crores or \u20b919.81 per share in the same quarter\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/01\/MindtreeQ322.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/128505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=128505"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/128505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125416"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=128505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=128505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=128505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}