Mindtree Q4 Review - On A Tear: Prabhudas Lilladher
Employees working on laptop. (Photo: Bloomberg News)

Mindtree Q4 Review - On A Tear: 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 strong beat in revenue growth, +5.2% QoQ $ (PLe: 4.7%, Cons: 4%) driven by strong recovery in Travel (+17% QoQ $) and strong demand momentum in RCM (+9% QoQ $) and CMT (+4.1% QoQ $).

Growth ex-travel (most affected vertical by the pandemic) of 8.2% YoY in FY21 is commendable and reflects their broad-based capabilities and agility to turn around faster.

MTCL is experiencing strong traction in the Healthcare vertical and they will start reporting revenues in this vertical from Q1 FY22. They reported strong sequential growth in deal win TCV of $375 million, +20% QoQ, -5% YoY.

We believe MTCL can achieve industry leading growth in FY22 given

  • Ability to drive strong broad-based growth ex-travel
  • Healthy FY21 order book of $1.38 billion +12% YoY
  • Strong deal win momentum anticipated for FY22
  • Material addition of revenues from healthcare vertical
  • Pick up in BFSI vertical

Click on the attachment to read the full report:



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 brokerage 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.