Wednesday, April 17, 2019

Mindtree Crosses $1 Billion in Annual Revenue During Q4 of 2019

Mindtree, a global technology services and Digital transformation company, announced its consolidated results today for the fourth quarter ended March 31, 2019 as approved by its board of directors.

“Mindtree has delivered exceptional performance for both the fourth quarter and the full fiscal year as we cross the historic $1B milestone. Over the course of two decades our strategy of being expertise-led and backed by a unique culture continues to help us attract world class people and create customer successes.” Rostow Ravanan, CEO & Managing Director, Mindtree. ” Our ability to consistently grow significantly faster than the sector is a reflection of the investments we have made to align with technology trends disrupting our industry. We are well-poised to continue delivering industry leading returns for all our stakeholders, the best is yet to come”.

Key financial highlights:

Quarter ended March 31, 2019


o   Revenue at $ 262.0 million (growth of 4.2% q-o-q / 15.8% y-o-y)

Constant Currency growth of 3.9% q-o-q

o    Net profit at $ 28.2 million (growth of 5.0% q-o-q / growth of 0.3% y-o-y)


o    Revenue at  ₹ 18,394 million (growth of 2.9% q-o-q / 25.6% y-o-y)

o    Net profit at  ₹ 1,984 million (growth of 3.8% q-o-q / growth of 8.9% y-o-y)

Other highlights:


o    349 active clients as of March 31, 2019

o    $10 million clients grew by 2, total of 23

o    $5 million clients grew by 1, total of 45

o    $1 million clients grew by 4, total of 120


o    20,204 Mindtree Minds as of March 31, 2019

o    Trailing 12 months attrition is 14.2%


o    Automation is playing a significant role in modernizing our technology service delivery, enhancing both efficiency and speed-to-results for our clients.

o    We have deployed 576 BOTs as of March 31, 2019

*Software that acts autonomously, free from any interference, human or otherwise, to perform a significant task which will otherwise be performed by a human

·         Multi-year and multi-million-dollar wins:

Existing clients

o    For a large hospitality company, Mindtree extended its Digital presence into cloud migration services

o    For a leading multinational paints and coatings company, Mindtree is chosen as a Digital Partner to provide Digital service operations and support services

New clients

o    For a leading sports retailer, Mindtree is chosen as a Digital partner for their e-commerce platform covering both applications and infrastructure services for end to end support

o    Mindtree is awarded its largest Salesforce AMS contract to date by a leading tobacco giant. Under this contract Mindtree was chosen to provide support services for their Salesforce applications

o    Mindtree is chosen as an automation solution partner for an industry leader in revenue integrity for healthcare provider organizations to bring efficiency in their business processes

o    Mindtree is chosen as a strategic engineering partner for a leading web hosting company to provide sustainment and support services


o    The Zinnov Zones for Digital Services Report names Mindtree an overall Leader, as well as a Leader in the following sub segments:

* Digital Strategy & Consulting

* Application and Platform Development

* UI/ UX & Customer Experience

* Legacy Modernization

* Deployment & Integration

* Data Analytics & AI

* Infra & Managed Services

o    The 2019 ISG Provider Lens™ SIAM/ITSM Quadrant Report names Mindtree a Rising Star USA in Service Operation and Delivery

o    Mindtree named Leader for Digital Transformation and Leveraging Packaged Software Platforms archetypes in the 2018 ISG Provider Lens™ Next-gen ADM Services Archetype Report

o    Mindtree named Leader for Legacy Transformation and Cloud-first Transformation in the 2018 ISG Provider Lens™ Digital Business Transformation Archetype Report

o    Mindtree has been placed on The Best of The Global Outsourcing 100® list by the International Association of Outsourcing Professionals (IAOP)

o    Mindtree recognized as an Innovator in Avasant’s Applied Intelligence and Advanced Analytics Services RadarView™ Report


o    The Board of Directors, at its meeting held on April 17, 2019, have declared an interim dividend of 30% (Rs 3 per equity share of par value Rs 10 each). The Board of Directors have also recommended a Final Dividend of 40% (Rs. 4 per equity share of face value of Rs. 10 each) for the financial year ended March 31, 2019 and a special dividend of 200% (Rs. 20 per equity share of face value of Rs 10 each) to celebrate the twin achievements of exceeding USD 1 billion annual revenue milestone and 20th anniversary of the Company which are subject to the approval of Shareholders.

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