Mindtree Reports Strong Q4 and Full Year Performance in FY22

Bangalore : Mindtree, a global technology services and digital transformation company, announced its consolidated results today for the fourth quarter ended March 31, 2022, as approved by its Board of directors.

 

Key financial highlights:                                       

Quarter ended March 31, 2022

  • In USD:

o   Revenue was $383.8 million (growth of 4.8% q-o-q / 33.2% y-o-y)

o   Net profit was $62.7 million (growth of 7.6% q-o-q / 44.8% y-o-y)

  • In INR:

o   Revenue was ₹28,974 million (growth of 5.4% q-o-q / 37.4 % y-o-y)

o   Net profit was ₹4,731 million (growth of 8.1% q-o-q / 49.1 % y-o-y)

Year ended March 31, 2022

  • In USD:

o   Revenue was $1,410.8 million (growth of 31.1%)

o   Net profit was $221.6 million (growth of 47.7%)

  • In INR:

o   Revenue was ₹105,253 million (growth of 32.1%)

o   Net profit was ₹16,529 million (growth of 48.8%)

 

Other Q4FY22 highlights:

  • Clients:

o   276 active clients as of March 31, 2022

o   $5 million+ clients increased by 4, total 56

o   $20 million+ clients increased by 5, total 14

  • People:

o   35,071 professionals as of March 31, 2022

o   Trailing 12 months attrition was 23.8%

 

  • Some key deals won in Q4 FY22:

o   A U.S.-based global leader in design software and services chose Mindtree as its strategic partner to provide product support to enhance customer experience and optimize costs.

o   A Dutch multinational company awarded Mindtree a managed support services contract for digital marketing, ecommerce, DataOps, and IoT services.

o   A leading U.S.-based managed healthcare and insurance company selected Mindtree as a preferred partner for digital transformation and modernization work.

o   A leading multinational cards and payments provider selected Mindtree to consult and create a roadmap for its journey to the public cloud for transforming its highly sophisticated operations portfolio and enabling it for the hybrid and multi-cloud environment. This engagement includes defining the target operating model, processes, tools, and skills.

o   A leading U.S. flagship airline signed a multiyear contract with Mindtree. As part of the contract, Mindtree will support core airline systems, including commercial, operations and enterprise IT, through business verification testing services.

 

  • Recognitions:

o   Named a Leader in Everest Group’s Duck Creek Services PEAK Matrix® Assessment 2022.

o   Included in the FTSE4Good Emerging Markets Index series.

o   Recognized as a global Supplier Engagement Leader by CDP, a global non-profit that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.

o   Recognized as the 2022 ServiceNow Americas Emerging Service Provider Partner of the Year.

o   Won the Platinum Vision Award for the company’s FY21 sustainability report at the League of American Communications Professionals’ Annual Report Competition for 2020-21.

o   Won the Silver Shield for Excellence in Integrated Reporting in the Service Sector category at the ICAI (Institute of Chartered Accountants of India) Sustainability Reporting Awards 2020-21.

 

  • Announcements:

o   The Board of Directors have recommended a final dividend of 270% (₹27 per equity share of par value ₹10 each) for the financial year ended March 31, 2022 which is subject to the approval of shareholders at the Annual General Meeting.

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