Mindtree Q3 Review - Robust Revenue Growth To Continue: IDBI Capital
Mindtree Q3 Review - Robust Revenue Growth To Continue: IDBI Capital
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.
IDBI Capital Report
Mindtree Ltd. reported robust revenue growth in Q3 FY22 (up 4.7%/up 33.7% QoQ/YoY) and its margins were above our estimates (19.2%, versus 18.3%).
The company continues to see healthy order book up 14.6% YoY taking total year to date total contract value to $1.2 billion. The company is winning healthy deals in cloud (+10 deals), data and experience.
Mindtree will be key beneficiary of strong growth in digital technologies and larger tech spending pie over two to three years. In addition, the company’s strategy to focus on being end to end provider, client mining (focus on top 100 clients) and dedicated hyperscaler vertical is expected to drive long term growth.
Click on the attachment to read the full report:
DISCLAIMER
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.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.