MindTree Limited
NSE Symbol MINDTREE
Revenue grows 21.7% in USD terms in FY
2011-12.
PAT increases significantly by 106.2%
MindTree Limited, a global IT and Product
Engineering Services Company, announced its consolidated results today for the
fourth quarter ended March 31, 2012 and Financial Year (FY) 2011-12.
Consolidated Financial
Highlights
for the Fourth Quarter ended March 31, 2012
Ø In dollar terms, Revenue grew by 1.3% Quarter over
Quarter (QoQ) and 21.8% Year over Year (YoY) to $105.04 Million.
Ø In rupee terms, Revenue grew by 1.2% QoQ and 34.4% YoY
to Rupees 5,257 Million.
Ø In dollar terms, Profit After Tax (PAT) increased by 13.8%
QoQ and 95.5% YoY to $13.8 Million.
Ø In rupee terms, PAT increased by 13.7% QoQ and 115.3%
YoY to Rupees 689 Million.
|
Mindtree-consol
|
Q4FY12
|
||
|
Net Sales
|
52,570.00
|
51,970.00
|
39,120.00
|
|
Profit from Operations
|
8,170.00
|
6,990.00
|
3,300.00
|
|
Profit before tax
|
8,250.00
|
7,340.00
|
3,550.00
|
|
Tax Expense
|
1,360.00
|
1,280.00
|
350
|
|
Consolidated Net Profit
|
6,890.00
|
6,060.00
|
3,200.00
|
|
Face Value (in Rs.)
|
10
|
10
|
10
|
|
Paid-up Equity
|
4,050.00
|
4,050.00
|
4,000.00
|
|
Basic EPS
|
17
|
15.02
|
8
|
|
Diluted EPS
|
16.8
|
14.91
|
7.81
|
Consolidated Financial Highlights
for the Year ended March 31, 2012
Ø In dollar terms, Revenue grew by 21.7% over the
previous year to $402.6 Million.
Ø In rupee terms, Revenue grew by 26.9% over the previous
year to Rupees 19,152 Million.
Ø In dollar terms, PAT increased by 106.2% over the
previous year to $45.9 Million.
Ø In rupee terms, PAT increased by 115.1% over the previous
year to Rupees 2,185 Million.
(In Lakhs of Rs)
|
FY12
|
||
|
Net Sales
|
191520
|
150,900.00
|
|
Profit from Operations
|
22350
|
12,220.00
|
|
Profit before tax
|
26150
|
13,040.00
|
|
Tax Expense
|
4300
|
2,880.00
|
|
Net Profit after tax
|
21850
|
10,160.00
|
|
Net Profit
|
21850
|
10,160.00
|
|
Consolidated Net Profit
|
21850
|
10,160.00
|
|
Face Value (in Rs.)
|
10
|
10
|
|
Paid-up Equity
|
4050
|
4,000.00
|
|
Reserves
|
91670
|
73,620.00
|
|
Basic EPS
|
54.23
|
25.53
|
|
Diluted EPS
|
54.14
|
24.85
|
|
Public Shareholding
|
32358908
|
27248193
|
|
Public holding (%)
|
79.81
|
68.06
|
The
52 week high price of its Rs.10 share is
Rs.547.95; and the 52 week low
price is Rs. 287.65. The current price is around Rs.530.
On
an EPS of Rs.54.23, the PE Ratio works out to 9.77. Looking at the future
potential, the company seems to be an attractive BUY for medium / long term
Investors.
Other Highlights
Ø As of March 31, 2012, MindTree had 237 active
customers, including 37 Global Fortune 500 Companies.
Ø During Q4, $1 million customers increased by 3 to 77;
$5 million customers increased by 1 to 17; and $20 million customers increased
by 1 to 4.
Ø MindTree added 502 people on a gross basis during Q4,
taking its total people strength to 11,000 as of March 31, 2012.
Ø Some of the significant client wins during Q4 were:
1.
A leading Insurance Company based in US. MindTree will provide services
to its Enterprise Risk Management (ERM) group to improve management of
worldwide location based risk.
2.
A large conglomerate based in Middle East. MindTree will provide
services in the area of SAP CRM implementation.
3.
A Company in the area of wireless semiconductor chips and embedded
solutions. The Company will license MindTree’s Bluetooth Low Energy (BLE)
Intellectual Property (IP).
-
MindTree bagged the NASSCOM IT User award 2012 under ‘Social Media
Adoption in an Enterprise’ category for its intranet application called
‘PeopleHub’.
-
The Board has approved creation of stock incentive schemes in the nature
of Restricted Stock Units (RSU) upto 2.5% of our paid up capital and Stock
Appreciation Rights (SAR) to align management incentives with creating long
term shareholder value. The roll out of the schemes are subject to shareholder
& any other necessary approvals.
-
The Board of Directors, at its meeting held on April 16, 2012, has
recommended a final dividend of 15% (Re 1.50 per equity share of par value Rs
10 each) for the year ended March 31, 2012.
"FY
2011-12 has been a great year. We got the leadership team to a "back to
basics" approach. We focused on a few verticals and did deeper mining of
existing relationships. The "back to basics" approach has helped to
grow margins consistently each quarter. Going forward, we believe we will
continue to deliver higher revenue growth than industry estimates in FY2012-13
and improve EBITDA margins further. We do however see the uncertain global
environment and the currency volatility as our biggest risks" said
MindTree CEO & Managing Director, Krishnakumar Natarajan.
"The
last year has been transformative for us. We have emerged stronger than ever
before. The foundation is laid for taking the Company confidently forward"
said MindTree Chairman, Subroto Bagchi.
About MindTree Limited
MindTree
Limited is a global IT and Product Engineering Services Company and
acknowledged as an excellent software services company in India for its
capability to build, test and deploy solutions.
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).
In
2009, MindTree was ranked No. 2 in Asia and declared the overall winner in
India in the Asiamoney Corporate Governance Poll.
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