Mindtree Annual Report Analysis -Navigating Through Pandemic Year: Dolat Capital
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Dolat Capital Report
FY21 was a challenging year for Mindtree Ltd. as the company has witnessed significant headwinds in several key client accounts due to its high exposure in the high-impacted verticals of travel-hospitality that accounted for 16.6% of revenues in FY20 that witnessed decline in revenues by 45% during FY21.
The segment however has slowly coming back on recovery path and has been reporting strong double digit compound quarterly growth rate over Q1 FY21 -Q4 FY21.
Despite severe impact in the vertical, the company has managed flattish revenue performance for the year helped by strong growth in communication, media and technology vertical that clocked growth in revenues of about 11% for the year.
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