Quote on Mindtree Q4FY21 Result by Mr. Jyoti Roy, Angel Broking Ltd
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Below are Quote on indtree Q4FY21 Result by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd
MIndtree reported a 5.2% qoq growth in revenues to USD 288.2mn. In rupee terms revenue grew by 4.2% qoq to ₹2,109.3 crore while EBIDTA degrew by 1.1% qoq to ₹462.6 crore. EBIDTA margins for the quarter contracted by 120bps qoq to 21.9% due to wage hikes and rupee appreciation. Net profit for the quarter degrew by 2.8% qoq to ₹317.3 crore. During the quarter the company reported new deal wins of USD 375mn as compared to USD 312mn in Q3FY2021. Mindtree has now posted strong growth in revenues for two consecutive quarters post a weak revenue growth in Q2FY21. During the quarter the retail, CPG & manufacturing and travel & hospitality segments showed signs of recovery and now accounts for 22.4% and 9.9% of the company’s revenue as compared to 21.6% and 8.9% respectively in Q3. Post the strong set of numbers for Q3FY2021 we maintain our BUY rating on the stock with a target price of Rs. 2350.
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