Mindtree

₹3433.4 0 | 0%

WEBSITE BSE:532819 NSE : MINDTREE LTD 22 Nov, 00:00

Market Cap ₹56613 Cr.

Stock P/E 29.9

P/B 10

Current Price ₹3433.4

Book Value ₹ 343.8

Face Value 10

52W High ₹0

Dividend Yield 1.08%

52W Low ₹ 0

Edit Ratio

Mindtree Research see more...

Overview Inc. Year: 1999Industry: IT - Software

MindTree Limited is a holding corporation. The Company is an global IT consulting and implementation agency that provides enterprise solutions thru worldwide software program development. The Company operates in 5 segments: Retail, CPG and Manufacturing (RCM); Banking, Financial Services and Insurance (BFSI); Technology, Media and Services (TMS); Travel and Hospitality (TH), and Others. It offers services within the areas of analytics and data control, utility improvement and maintenance, commercial enterprise process control, business technology consulting, cloud, virtual commercial enterprise's, independent testing, infrastructure management offerings, mobility, product engineering, and structures, applications, merchandise (SAP) offerings. It has offices in India, the USA, the United Kingdom, Japan, Singapore, Malaysia, Australia, Germany, Switzerland, Sweden, the United Arab Emirates, Netherlands, Canada, Belgium, France, Ireland, South Africa and Republic of China.

Mindtree Share Price

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Peer Comparison

Mindtree Quarterly Results

#(Fig in Cr.)	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022
Net Sales	1909	1926	2024	2109	2292	2586	2750	2897	3121	3400
Other Income	41	25	62	39	72	75	71	90	40	49
Total Income	1949	1951	2085	2148	2364	2661	2821	2987	3161	3449
Total Expenditure	1587	1536	1556	1647	1827	2056	2158	2289	2463	2704
Operating Profit	363	415	530	502	536	606	663	698	698	745
Interest	13	13	13	11	13	13	13	12	12	14
Depreciation	60	57	72	71	58	61	63	60	60	65
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	290	345	445	419	465	532	587	627	626	667
Provision for Tax	77	91	119	102	122	133	150	153	154	158
Profit After Tax	213	254	327	317	343	399	438	473	472	509
Adjustments	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	213	254	327	317	343	399	438	473	472	509
Adjusted Earnings Per Share	12.9	15.4	19.8	19.3	20.9	24.2	26.5	28.7	28.6	30.8

Mindtree Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	1915	2362	3032	3562	4673	5236	5463	7022	7764	7968	10525	12168
Other Income	39	35	50	84	84	55	190	89	76	152	307	250
Total Income	1954	2397	3081	3645	4757	5292	5653	7111	7840	8120	10833	12418
Total Expenditure	1622	1909	2422	2853	3852	4532	4722	5957	6683	6311	8330	9614
Operating Profit	332	487	660	793	905	760	931	1154	1157	1808	2503	2804
Interest	1	1	0	0	16	19	17	3	53	50	50	51
Depreciation	70	62	81	102	166	186	172	164	275	260	242	248
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	262	424	578	691	723	555	742	987	829	1498	2211	2507
Provision for Tax	43	85	128	155	171	136	172	233	198	388	558	615
Profit After Tax	219	339	451	536	553	419	570	754	631	1111	1653	1892
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	219	339	451	536	553	419	570	754	631	1111	1653	1892
Adjusted Earnings Per Share	13.5	20.4	27	32	32.9	24.9	34.8	45.9	38.3	67.4	100.3	114.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	32%	14%	15%	19%
Operating Profit CAGR	38%	29%	27%	22%
PAT CAGR	49%	30%	32%	22%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	0%	15%	29%	25%
ROE Average	34%	28%	26%	26%
ROCE Average	46%	38%	35%	34%

Mindtree Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	957	1314	1641	2013	2415	2577	2741	3306	3157	4319	5474
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	4	3	3	2	2	1	1	1	0	0	0
Other Non-Current Liabilities	-27	-30	-23	-12	45	-32	-23	-21	493	415	483
Total Current Liabilities	369	368	439	606	774	782	986	855	1324	1593	2201
Total Liabilities	1303	1655	2059	2610	3236	3328	3705	4140	4973	6326	8157
Fixed Assets	259	259	344	556	1162	1022	957	967	1409	1276	1375
Other Non-Current Assets	166	246	247	202	247	245	245	406	309	475	708
Total Current Assets	877	1150	1469	1853	1827	2061	2503	2767	3255	4575	6074
Total Assets	1303	1655	2059	2610	3236	3328	3705	4140	4973	6326	8157

Mindtree Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	46	60	125	118	361	194	251	328	256	391	760
Cash Flow from Operating Activities	206	266	322	598	421	654	564	631	825	1996	1537
Cash Flow from Investing Activities	-231	-192	-224	-210	-426	-453	-200	-193	-23	-1183	-686
Cash Flow from Financing Activities	37	-13	-111	-138	-172	-138	-288	-522	-696	-423	-596
Net Cash Inflow / Outflow	12	62	-14	251	-176	63	77	-85	106	390	255
Closing Cash & Cash Equivalent	60	125	118	376	194	251	328	256	391	760	1051

Mindtree Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	13.49	20.44	27.03	32.04	32.93	24.92	34.78	45.93	38.33	67.43	100.3
CEPS(Rs)	17.78	24.2	31.88	38.12	42.81	35.98	45.25	55.92	55.06	83.19	114.98
DPS(Rs)	4	12	25	17	16	10	11	33	13	25	37
Book NAV/Share(Rs)	58.79	78.85	97.94	119.75	143.28	153.1	166.03	200.34	191.17	261.64	329.61
Core EBITDA Margin(%)	15.3	19.15	20.12	19.91	17.57	13.45	13.56	15.16	13.93	20.79	20.86
EBIT Margin(%)	13.68	17.99	19.09	19.4	15.82	10.96	13.9	14.1	11.36	19.44	21.48
Pre Tax Margin(%)	13.65	17.95	19.08	19.39	15.47	10.6	13.59	14.05	10.67	18.81	21
PAT Margin (%)	11.41	14.37	14.87	15.06	11.82	7.99	10.44	10.74	8.13	13.94	15.7
Cash Profit Margin (%)	15.04	17.01	17.54	17.91	15.37	11.54	13.58	13.08	11.67	17.2	18
ROA(%)	19.04	22.94	24.27	22.97	18.9	12.75	16.21	19.23	13.85	19.66	22.82
ROE(%)	25.35	30.01	30.64	29.48	25.06	16.82	21.54	25.09	19.6	29.79	33.94
ROCE(%)	29.39	36.31	38.8	37.76	33.04	22.35	26.55	31.17	27.28	41.43	46.17
Receivable days	65.78	66.35	63.28	66.44	65.19	65.14	63.87	61.11	65.21	62.14	52.11
Inventory Days	0	0	0	0	0	0	0	0	0	0	0.14
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	9.04	11.15	12.2	20.36	19.8	18.16	22.25	20.55	21.61	30.92	42.9
Price/Book(x)	2.07	2.89	3.37	5.45	4.55	2.96	4.66	4.71	4.33	7.97	13.05
Dividend Yield(%)	0.82	1.32	1.9	1.3	2.45	2.21	1.42	3.5	1.57	1.2	0.86
EV/Net Sales(x)	1.02	1.56	1.78	2.96	2.3	1.42	2.32	2.17	1.68	4.21	6.64
EV/Core EBITDA(x)	5.91	7.56	8.16	13.3	11.88	9.8	13.6	13.21	11.28	18.56	27.91
Net Sales Growth(%)	26.92	23.32	28.36	17.49	31.19	12.06	4.32	28.53	10.58	2.62	32.1
EBIT Growth(%)	100.31	62.21	36.16	19.39	6.98	-22.34	32.26	30.36	-10.91	75.66	45.98
PAT Growth(%)	115.06	55.29	32.86	18.97	3.02	-24.24	36.19	32.28	-16.34	76.02	48.84
EPS Growth(%)	112.4	51.54	32.22	18.54	2.77	-24.33	39.6	32.03	-16.54	75.91	48.75
Debt/Equity(x)	0.05	0.02	0	0	0.02	0.04	0.11	0	0	0	0
Current Ratio(x)	2.38	3.12	3.34	3.06	2.36	2.64	2.54	3.24	2.46	2.87	2.76
Quick Ratio(x)	2.46	3.24	3.41	3.14	2.49	2.64	2.54	3.24	2.46	2.87	2.76
Interest Cover(x)	524	425	1446.75	6909	46.19	30.05	44.92	341.28	16.67	30.73	45.04
Total Debt/Mcap(x)	0.02	0.01	0	0	0	0.01	0.02	0	0	0	0

Mindtree Shareholding Pattern

#	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022
Promoter	73.49	67.59	61.03	61.03	61.02	61	61	60.99	60.99	60.95
FII	10.39	12.02	13.27	13.92	13.66	15.01	15.72	14.4	11.69	12.06
DII	7.88	11.97	10.62	10.86	11.99	10.11	9.71	10.46	12.06	11.82
Public	8.24	8.42	15.08	14.19	13.33	13.88	13.57	14.15	15.26	15.17
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022
Promoter	12.09	11.13	10.05	10.05	10.05	10.05	10.05	10.05	10.05	10.05
FII	1.71	1.98	2.19	2.29	2.25	2.47	2.59	2.37	1.93	1.99
DII	1.3	1.97	1.75	1.79	1.97	1.67	1.6	1.72	1.99	1.95
Public	1.36	1.39	2.48	2.34	2.2	2.29	2.24	2.33	2.52	2.5
Others	0	0	0	0	0	0	0	0	0	0
Total	16.46	16.47	16.47	16.47	16.47	16.48	16.48	16.48	16.48	16.49

Pros

Company has delivered good profit growth of 31% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 28%
Company is almost debt free.

Cons

Stock is trading at 10 times its book value.

* 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.