Mindtree’s Strong Q3 Led By Stellar Margin Performance, Says Motilal Oswal
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.
Motilal Oswal Report
Mindtree Ltd. delivered strong revenue growth in Q3 (5.0% QoQ U.S. dollar, above our estimate of 3.6% QoQ, on a broad-based performance across client buckets and industries (with the exception of banking financial services and insurance).
While deal wins ($312 million) were stable QoQ, they remain approximately 20% below the highs seen some quarters ago.
More importantly, we were surprised by further expansion in the Ebit margin (up 290 basis point QoQ / up 760 basis point YoY), led by a 430 basis point QoQ increase in utilization (all-time high) and 70 basis point increase in the offshore mix (a six-year high).
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 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.