Mindtree Q1 Review - Robust Revenue Growth: ICICI Direct

Mindtree campus in Bengaluru, India. (Photographer: Nishant Sharma/BloombergQuint)

Mindtree Q1 Review - Robust Revenue Growth: ICICI Direct


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.

ICICI Direct Report

Mindtree Ltd. reported robust Q1 FY22 results. Key takeaways of the conference call:

  • The company has seen healthy order book led by closure of certain deals (especially banking financial services and insurance), increase in multi-year deals (increase in deal tenures), renewals, higher demand from retail and consumer packaged good clients and traction in cloud and customer experience.

  • The company is seeing healthy traction in travel clients (led by leisure travel). An increase in business travel will further boost growth.

  • Further, considering the company’s ability to cross sell, up sell, inorganic expansion, organic expansion via P&L, expansion in Europe and higher growth in BFSI and retail prompts the company to believe it will be able to clock industry leading double digit growth in FY22E (which we estimate at 21% YoY).

Click on the attachment to read the full report:

ICICI Direct MindTree Q1FY22 Result Update.pdf


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 author entity and do not represent the views of BloombergQuint.

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