BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Mindtree Ltd. reported 5.2% constant currency QoQ growth (our estimate: 3.6%) led by 7.2% QoQ growth in top client and 3.8% QoQ growth in rest of the clients.
Ebit margin improved by 107 basis points QoQ to 19.2% (our estimate: 18.1%) led by pyramid optimisation and cost control on sub-contracting cost (down 2.1% QoQ).
Total contract wins stood at $358 million (flat QoQ) taking the trailing twelve months TCV to $1.6 billion (14.2% YoY, TCV growth is lagging revenue growth).
However, Mindtree remain confident on sustained traction as it is witnessing trend of clients extending project work acceleration towards long tail.
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