BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Mindtree Ltd. reported 3.1% QoQ growth in dollar revenues, mainly led by higher growth in banking, financial services and insurance, retail and consumer packaged goods and manufacturing.
Further, cost efficiency and higher utilisation led margins to improve 340 basis points QoQ to 20.3%. The board has recommended a dividend of Rs 7.5 per share.
We believe the company’s expertise in digital technology will make it a key beneficiary of improved traction in cloud in the coming years.
In addition, vendor consolidation opportunities, improving win ratio, increase in annuity business will provide long-term visibility to revenues.
Mindtree’s aim to improve margins via employee pyramid, offshoring, pricing, utilisation and annuity business bodes well for profit growth.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR