Mindtree Q4 Review- Robust Revenue Growth: ICICI Direct
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ICICI Direct Report
Mindtree Ltd. reported a healthy set of Q4 FY21 numbers.
The company reported dollar revenue growth of 5.2% Quarter on Quarter in line with our estimate of 5.0% QoQ.
Ebitda margin came in at 21.9% (down 119 basis points QoQ, mainly led by wage hikes) but was higher than our expectation of 20.5%.
The deal pipeline increased 20% QoQ (down 4.6% YoY) to $375 million.
The company added 989 employees in the quarter, with utilisation increasing 120 bps QoQ to 84.3% and offshore effort mix flat QoQ at 82.9%.
The company has declared a dividend of | 17.5/share.
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