PR95512

BANGALORE, India and WARREN, N.J. , April 18, 2022 /PRNewswire=KYODO JBN

- Sequential revenue growth of 5.2% in constant currency; Full year revenue up

31.1%; Decade-high full year EBITDA and PAT margins; Announces highest-ever

full year dividend

    Mindtree[https://www.mindtree.com/], 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.

    "Our industry-leading growth through a year of rapid business and

technology shifts demonstrates the relevance of our value proposition in

reimagining businesses and driving digital transformation at scale," said

Debashis Chatterjee, Chief Executive Officer and Managing Director, Mindtree.

"Our sequential revenue growth of 5.2% in constant currency made this our fifth

consecutive quarter of 5%-plus growth in constant currency. Our full year

revenue growth of 31.1% validates our strategy to capitalize on rising demand

by diversifying our services portfolio, mining customers, and broadening

industry partnerships. We are proud to have delivered EBITDA margin of 20.9%

and PAT margin of 15.7%, our highest in a decade. Our commitment to creating

value for shareholders is reaffirmed by an EPS of Rupee100.2, our highest-ever

adjusted for bonuses, and a full year dividend of Rupee37 per share, the

highest in our history. The passion of our teams and the trust of our customers

will help our endeavor to deliver profitable industry-leading growth in the

coming year as well."

    Key financial highlights:                                      

    Quarter ended March 31, 2022

    - In USD:

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

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

    - In INR:

      - Revenue was Rupee28,974 million (growth of 5.4% q-o-q / 37.4 % y-o-y)

      - Net profit was Rupee4,731 million (growth of 8.1% q-o-q / 49.1 % y-o-y)

    Year ended March 31, 2022

    - In USD:

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

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

    - In INR:

      - Revenue was Rupee105,253 million (growth of 32.1%)

      - Net profit was Rupee16,529 million (growth of 48.8%)

    Other Q4FY22 highlights:

    - Clients:

      - 276 active clients as of March 31, 2022

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

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

    - People:

      - 35,071 professionals as of March 31, 2022

      - Trailing 12 months attrition was 23.8%

    - Some key deals won in Q4 FY22:

      - 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.

      - A Dutch multinational company awarded Mindtree a managed support

services contract for digital marketing, ecommerce, DataOps, and IoT services.

      - A leading U.S.-based managed healthcare and insurance company selected

Mindtree as a preferred partner for digital transformation and modernization

work.

      - 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.

      - 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:

      - Named a Leader in Everest Group's Duck Creek Services PEAK Matrix®

Assessment 2022.

      - Included in the FTSE4Good Emerging Markets Index series.

      - 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.

      - Recognized as the 2022 ServiceNow Americas Emerging Service Provider

Partner of the Year.

      - 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.

      - 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:

      - The Board of Directors have recommended a final dividend of 270%

(Rupee27 per equity share of par value Rupee10 each) for the financial year

ended March 31, 2022 which is subject to the approval of shareholders at the

Annual General Meeting.

    About Mindtree

    Mindtree [NSE: MINDTREE] is a global technology consulting and services

company that enables enterprises across industries to drive superior

competitive advantage, customer experiences and business outcomes by harnessing

digital and cloud technologies. A digital transformation partner to more than

275 of the world's most pioneering enterprises, Mindtree brings extensive

domain, technology and consulting expertise to help reimagine business models,

accelerate innovation and maximize growth. As a socially and environmentally

responsible business, Mindtree is focused on growth as well as sustainability

in building long-term stakeholder value. Powered by more than 35,000 talented

and entrepreneurial professionals across 24 countries, Mindtree — a Larsen &

Toubro Group company — is consistently recognized among the best places to

work. For more, please visit www.mindtree.com [https://www.mindtree.com/] or

@Mindtree_Ltd [https://twitter.com/Mindtree_Ltd].

    Safe harbour

    Certain statements in this release concerning our future growth prospects

are forward-looking statements, which involve a number of risks, and

uncertainties that could cause our actual results to differ materially from

those in such forward-looking statements. The conditions caused by the COVID-19

pandemic could decrease customer's technology spending, affecting demand for

our services, delaying prospective customers' purchasing decisions, and

impacting our ability to provide on-site consulting services; all of which

could adversely affect our future revenue, margin and overall financial

performance. Our operations may also be negatively affected by a range of

external factors related to the COVID-19 pandemic that are not within our

control. We do not undertake to update any forward-looking statement that may

be made from time to time by us or on our behalf.

    For more information, contact: media@mindtree.com.

    Mindtree Limited,

    Global Village, RVCE Post,

    Mysore Road, Bangalore-560059

    CIN: L72200KA1999PLC025564

    Phone: + 91 80 6706 4000

    Fax: +91 80 6706 4100

    E-mail: info@mindtree.com/investors@mindtree.com

    Website: www.mindtree.com　

    Logo: https://mma.prnewswire.com/media/1004066/Mindtree_Logo.jpg  

    Source: Mindtree