Mindtree Q1 Review - Results Beat Estimates; Guides Strong Industry Leading Growth: Dolat Capital
Mindtree campus. (Source: BloombergQuint)

Mindtree Q1 Review - Results Beat Estimates; Guides Strong Industry Leading Growth: Dolat Capital

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Dolat Capital Report

Mindtree Ltd. reported 7.6% constant currency QoQ growth (our estimate: 4.1%) led by strong traction across key verticals and geographies.

Operating profit margin declined by just 82 basis points QoQ to 17.7% (our estimate: 17.1%) as visa and strong hiring impact was negated by strong growth leverage and pyramid optimisation.

Mindtree clocked highest-ever total contract value wins at $0.5 billion (up 34% QoQ) taking the trailing twelve months TCV growth of 15% at $1.5 billion.

The company expects the revenue momentum to continue and expects strong double digit growth in FY22 (confidence enhanced after Q1) as the pipeline remains healthy with opportunities.

Click on the attachment to read the full report:

Dolat Capital Mindtree Q1FY22 Result Update.pdf

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