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Mindteck (India) Ltd.

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mindteck.comBSE: 517344NSE: MINDTECK
Market Cap₹ 507 Cr.
Current Price
High / Low₹ 308 / 145
Stock P/E30.6
Book Value₹ 64
Price to Book2.32
Dividend Yield0.63 %
ROCE12.3 %
ROE9.0 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Software services: 90.2% • I T-Enabled Services: 9.8%

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence
68%
View full sector analysis →

PROS

  • Company is almost debt free
  • Latest quarter profit grew 724.0% YoY, showing strong momentum
  • Company generates healthy free cash flow
  • Company has a consistent dividend-paying track record

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • A large part of profit comes from other income (37.0% of PBT)
  • Working capital days have increased from 202 to 312 days
  • Recurring exceptional / one-off items are inflating headline profit
  • Company has delivered a poor sales growth of 7.6% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software
Part ofNIFTY 50NIFTY 500NIFTY LARGEMIDCAP 250NIFTY 100NIFTY 200
S.No.Name
1.TCS2202.0016.00796702.875.0013420.004.6972275.0013.9366.2525.67
2.INFY1038.2013.91421325.694.627775.0012.2948211.0014.0342.8423.66
3.HCLTECH1207.0018.80327539.384.474626.0020.3434579.0013.9431.2019.87
4.WIPRO167.5012.55165902.386.573356.300.5924478.6010.5918.4918.93
5.TECHM1539.5029.38150891.593.3114863.001216.71157119.001076.8223.0417.43
6.LTM4301.1524.39127581.281.741468.6017.0611608.0017.9630.2517.75
7.OFSS11760.0030.01102409.763.401415.50120.523125.2068.7345.5060.04
8.PERSISTENT5537.4545.4287353.270.72483.0413.674303.2329.0935.0916.19
9.COFORGE1847.4046.5881835.770.86531.7049.195527.7049.8624.7019.14
10.MPHASIS2294.1022.9243790.982.70489.5110.824384.0517.4623.3118.15
11.LTTS3334.9526.8035379.241.74357.1012.972940.1011.4727.7018.65
12.MINDTECK158.7516.30507.270.6383.60855.431040.80927.4414.217.81
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
34434534736141439235938635392384369339
30030030032637434632531030334315332307
Operating Profit4445473541453376558703733
OPM %12.73%13.10%13.56%9.67%9.87%11.59%9.28%19.61%14.42%14.79%18.08%10.02%9.64%
111010-1211131119218712718
Interest1111102202111
Depreciation1111111111111211111111111
Profit before Tax5556586952594495676346451
Tax %27.47%25.23%23.13%16.81%25.77%24.74%25.40%23.58%24.60%29.49%36.36%19.16%24.71%
Net Profit4042445739443373554225238
1.571.641.742.271.521.391.032.281.461.680.681.621.20

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8488108921041141301401551501,484
7885988586981091181311241,287
Operating Profit64107181721222525197
OPM %7.02%4.24%9.21%7.91%17.58%14.64%16.08%15.41%15.84%16.82%13.28%
323-58334753134
Interest00121010115
Depreciation112665445444
Profit before Tax7410-59141520242524226
Tax %36.49%55.37%29.99%-0.73%38.94%26.46%23.94%22.78%24.63%26.40%26.51%
Net Profit427-5991115181917166
EPS0.000.000.000.003.324.255.787.215.905.45—
Dividend Payout %57.66%134.14%35.63%0.00%0.00%23.42%16.99%13.88%16.96%18.36%—

COMPOUNDED SALES GROWTH

10 Years:
6%
5 Years:
8%
3 Years:
5%

COMPOUNDED PROFIT GROWTH

10 Years:
8%
5 Years:
15%
3 Years:
5%

STOCK PRICE CAGR

10 Years:
10%
5 Years:
17%
3 Years:
13%
1 Year:
-28%

RETURN ON EQUITY

10 Years:
3%
5 Years:
10%
3 Years:
11%
Last Year:
9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2024

Sep 20

1:4

Quarterly Results & Bonus issue

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital25262626262625253232
15115115694103115119136155170
2008452040
Trade Payables461187856711
11171717131213151620
Total Liabilities193200211153153166165182214234
191222997494
12413213868676767676767
0000000343655
Cash & Bank2513314312846626186
42465750456145164122
Total Assets193200211153153166165182214234

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
0561020231616164
Cash from Investing2-13-312-25-196-2-47
Cash from Financing-1-3-3-8-4-3-15-6-4-7
-5-16-710-9-32874

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
64.6164.4964.4964.3664.2064.2064.2064.2064.20
0.220.040.020.180.000.000.070.010.06
0.020.000.000.000.000.000.000.000.00
Government0.000.000.000.000.000.000.000.000.00
35.1535.4735.4935.4535.8035.8035.7335.7935.74

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09
Copy of Newspaper Publication

2026-09-09 - Mindteck (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13
Copy of Newspaper Publication

2026-08-13 - Mindteck (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13
Copy of Newspaper Publication

2026-08-13 - Mindteck (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-13
Shareholders meeting

2026-08-13 - Mindteck (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 13, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.

2026-08-12
Press Release

2026-08-12 - Mindteck (India) Limited has informed the Exchange regarding a press release dated August 12, 2026, titled "Mindteck Reports Financial Results for Q1 2026-27".

2026-08-12
Outcome of Board Meeting

2026-08-12 - Mindteck (India) Limited has informed the Exchange regarding Outcome of Board Meeting held on August 12, 2026.

2026-08-12
Outcome of Board Meeting

2026-08-12 - Mindteck (India) Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-22
Copy of Newspaper Publication

2026-07-22 - Mindteck (India) Limited has informed the Exchange about Copy of Newspaper Publication on AGM Notice, Book Closure, Record date and e-voting advertisement

2026-07-21
Updates

2026-07-21 - Mindteck (India) Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Communication to shareholders Tax Deducted at Source (TDS) on Dividend'.

News

Recent coverage and analyst commentary for MINDTECK

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