Mindtree Q3 Review: Industry Leading Margins In Midcaps, Says Prabhudas Lilladher
A view of the Mindtree campus in Bengaluru. (Source: PTI)

Mindtree Q3 Review: Industry Leading Margins In Midcaps, Says Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Mindtree Ltd. reported revenue growth of 5% QoQ dollar, 0.4% above ours/street estimates driven by broad based growth across verticals and strong growth across client buckets.

The company reported strong growth in top 10 clients up 4% QoQ as well as non-top 10 clients up 5.7% QoQ limiting risk of client concentration. Growth in top 10 accounts validates their strong relationships with strategic clients and client mining ability.

Travel vertical is on path of recovery with up 12.5% QoQ, but it is several quarters away from full blown recovery with down 47% YoY growth.

Click on the attachment to read the full report:

Prabhudas Lilladher Mindtree Q3 FY21 Result Update.pdf

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