MindTree Limited
NSE Symbol MINDTREE
MINDTREE
LTD has declared its consolidated
Results for Q3 FY 2012 ending Dec,2011.
Net
Sales stands at Rs.519.70 cr – up by 13.79%
from Q2 FY 12; up by 25.80% from Q1 FY 12 and up by 35.07% from Q3 FY 11.
Profit
from Operations stands at Rs.69.90 cr – up by 19.49%
from Q2 FY 12; up by 88.41% from Q1 FY 12; and up by 116.95% from Q3 FY 11.
Profit
before tax stands at Rs.73.40 cr – up by 12.23%
from Q2 FY 12; up by 82.59 from Q1 FY 12; and up by 117.55 from Q3 FY 11.
Net
Profit stands at Rs.60.60 cr – up by 11.19%
from Q2 FY 12; up by 75.65% from Q1 FY 12; and up by 98.69% from Q3 FY 11.
On a Face Value of Rs.10, Basic
EPS stands at Rs.15.02 in Q3 FY 12; Rs.13.56
in Q2 FY 12; Rs.8.61 in Q1 FY 12; and Rs.7.66 in Q3 FY 11.
Annual
EPS can be in the region of Rs.38.
Current
Market Price is Rs.455 while the 52 week high price is Rs.555 and the 52
week low price is Rs.287.65
The Price Earning Ratio is
11.97
The company
has performed well – and promises well for the future – judging by its client
acquisition.
WHAT COMPANY SAYS
Consolidated Financial
Highlights
for the Third Quarter
ended December 31, 2011
Ø
In
dollar terms, Revenue grew by 2.3% Quarter over Quarter (QoQ) (3.1% on constant
currency basis) and 21.6% Year over Year (YoY) to $103.7 Million.
Ø
In
rupee terms, Revenue grew by 13.8% QoQ and 35.1% YoY to Rupees 5,197 Million.
Ø
In
dollar terms, Profit After Tax (PAT) stable QoQ and increased by 79.8% YoY to
$12.1 Million.
Ø
In
rupee terms, PAT increased by 11.2% QoQ and 98.7% YoY to Rupees 606 Million.
Other Highlights
As of
December 31, 2011, MindTree had 258 active customers, including 44 Global
Fortune 500 Companies. $1 million customers increased by 2 to 74; and $20
million customers increased by 1 to 3.
MindTree added 846 people on a gross basis
during Q3, taking its total people strength to 10,934 as of December 31, 2011.
Some of the significant client wins during Q3
were:
1.
A Global Hotel Chain. MindTree has been chosen as its partner for its
transformational e-business initiative.
2.
A Global Automobile Company. MindTree has been empanelled as an
additional vendor to provide IT services.
3.
A Global research based Manufacturing Company. MindTree has been
empanelled as an additional vendor to provide IT services.
4.
A leading provider of technology based solutions for the ophthalmic
industry. MindTree will provide Product
Engineering Services.
“Inspite
of Q3 being a seasonally weak quarter, we have seen significant improvement in
margins mainly due to the rupee depreciation and also a marginal increase due
to our continued focus towards operational excellence initiatives. The global
economic situation continues to be challenging and we need to constantly
monitor this and be prepared. Over the last few quarters, our strategy to be an
expertise led organization has yielded positive results and we believe that
this direction will help us in dealing with such challenges more confidently.”
said MindTree CEO & Managing Director, Krishnakumar Natarajan.
Ø
MindTree
is ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award
winners in 2010, 13th in NASSCOM’s listing of Top IT Software and Services
Exporters in India (excluding BPO).
Ø
In
2009, MindTree was ranked No. 2 in Asia and declared the overall winner in
India in the Asiamoney Corporate Governance Poll.
Consolidated Results Table
|
Q3FY12
|
%dif1
|
%dif2
|
%dif3
|
||||
|
Net Sales
|
51970
|
45,670.00
|
13.79
|
41,310.00
|
25.80
|
38,476.00
|
35.07
|
|
Raw Materials
|
-
|
-
|
-
|
25,858.00
|
|||
|
Employees Cost
|
32420
|
30,470.00
|
6.40
|
27,930.00
|
16.08
|
||
|
Depreciation
|
1730
|
1,740.00
|
-0.57
|
1,800.00
|
-3.89
|
||
|
Other Expenditure
|
10830
|
7,610.00
|
42.31
|
7,870.00
|
37.61
|
-728
|
-1587.64
|
|
Total Expenditure
|
44980
|
39,820.00
|
12.96
|
37,600.00
|
19.63
|
||
|
Profit from Operations
|
6990
|
5,850.00
|
19.49
|
3,710.00
|
88.41
|
3,222.00
|
116.95
|
|
Other Income
|
360
|
700
|
-48.57
|
310
|
16.13
|
163
|
120.86
|
|
Interest
|
10
|
10
|
0.00
|
-
|
11.00
|
-9.09
|
|
|
Profit before tax
|
7340
|
6,540.00
|
12.23
|
4,020.00
|
82.59
|
3374
|
117.55
|
|
Tax Expense
|
1280
|
1,090.00
|
17.43
|
570
|
124.56
|
324.00
|
295.06
|
|
Net Profit
|
6060
|
5,450.00
|
11.19
|
3,450.00
|
75.65
|
3050
|
98.69
|
|
Consolidated NPT
|
6060
|
5,450.00
|
11.19
|
3,450.00
|
75.65
|
3,050.00
|
98.69
|
|
Face Value (in Rs.)
|
10
|
10
|
0.00
|
10
|
0.00
|
10.00
|
0
|
|
Paid-up Equity
|
4050
|
4,030.00
|
0.50
|
4,010.00
|
1.00
|
3987
|
1.58
|
|
Reserves
|
-
|
78,710.00
|
77,240.00
|
69993
|
|||
|
Basic EPS
|
15.02
|
13.56
|
10.77
|
8.61
|
74.45
|
7.66
|
96.08
|
|
Diluted EPS
|
14.91
|
13.47
|
8.53
|
7.46
|
99.87
|
ANNOUNCEMENTS BY COMPANY
18-01-2012 MindTree's Q3 Revenue grows 2.3% QoQ and 21.6% YoY in USD
terms. PAT increases 79.8% YoY and stable QoQ
14-12-2011 Millennium & Copthorne Hotels chooses MindTree as its
strategic IT partner
02-12-2011 Tulip, MindTree and lomega come together to provide Digital
Video Surveillance Solutions on Cloud
19-10-2011 Mindtree Introduces mPromo Trade Promotion Solution on
Microsoft Azure
17-10-2011 A Milestone Quarter; Mindtree' s Q2 Revenue crosses $100
million. People Strength crosses 10,000 MindTree Minds
17-10-2011 interim dividend of 15% (Re 1.50 per equity share of par
value Rs 10/- each) for the six months ended September 30, 2011 and a special
dividend of 10% (Re 1.00 per equity share of par value Rs 10/- each) on the
occasion of the Company crossing $ 100 million in revenues and 10,000 MindTree
minds in this quarter.
17-10-2011 consolidated Results for the quarter ended on 30-SEP-2011 as
follows: Net Sales of Rs. 45670 lacs for quarter ending on 30-SEP-2011 against
Rs. 41310 lacs for the quarter ending on 30-JUN-2011. Net Profit / (Loss) of
Rs. 5450 lacs for the quarter ending on 30-SEP-2011 against Rs. 3450 lacs for
the quarter ending on 30-JUN-2011.
13-10-2011 MindTree Wins Asian Admired Knowledge Enterprise Award for
Fourth Consecutive Year
21-09-2011 MindTree Unveils SecureMind Surveillance Manager on lomega
StorCenter Network Storage Device
20-09-2011 MindTree's IEEE-11073 Stack for Connected Health
Applications Achieves Continua Health Alliance certification
24-08-2011 MindTree's Subroto Bagchi Becomes India's Best Selling
Business Author
18-08-2011 MindTree Named Among Top Industry Leaders in IT and Product
Engineering Services by Global Services Media and NeoAdvisory
20-07-2011 MindTree's Q1 PAT Soars 120.6% YoY and 9.7% QoQ, Revenue
grows 7.3% QoQ and 20.2% YoY in USD terms
20-07-2011 consolidated Results for the quarter ended on 30-JUN-2011 as
follows: Net Sales of Rs. 41310 lacs for quarter ending on 30-JUN-2011 against
Rs. 39120 lacs for the quarter ending on 31-MAR-2011. Net Profit / (Loss) of
Rs. 3450 lacs for the quarter ending on 30-JUN-2011 against Rs. 3200 lacs for
the quarter ending on 31-MAR-2011.
30-06-2011 MindTree Extends Strategic Partnership with Getronics for
Remote Infrastructure Management, Telecom and Application Support Services
22-06-2011 MindTree Launches MWatch- Integrated IT Infrastructure
Management Platform
20-06-2011 MindTree Enhances SITA's Flight Planning System.
14-06-2011 MindTree Launches High Accuracy Automatic Traffic Counting
and Classification system
09-06-2011 MindTree Unveils Bluetooth Solutions Suite for In-car Health
Applications
02-05-2011 MindTree Integrates its Business Intelligence/Data
Warehousing and Analytics Practices into All-Encompassing Data & Analytic
Solutions Practice".
25-04-2011 final dividend of 12.5% (Re.1.25 per equity share of par
value Rs.10/- each) for the year ended March 31, 2011.
21-04-2011 "MindTree's Consolidated Revenue Grows 21.5% in FY
2010-11".
21-04-2011 consolidated Results for the year ended on 31-MAR-2011 as
follows: Net Sales of Rs. 150900 lacs for year ending on 31-MAR-2011 against
Rs. 129598 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs.
10160 lacs for the year ending on 31-MAR-2011 against Rs. 21484 lacs for the
year ending on 31-MAR-2010. -
21-04-2011 standalone Results for the year ended on 31-MAR-2011 as
follows: Net Sales of Rs. 150900 lacs for year ending on 31-MAR-2011 against
Rs. 123325 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs.
12310 lacs for the year ending on 31-MAR-2011 against Rs. 20808 lacs for the
year ending on 31-MAR-2010.
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