“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
In USD:
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)
In INR:
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:
Clients:
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
People:
o 20,204 Mindtree Minds as of March 31, 2019
o Trailing 12 months attrition is 14.2%
BOTs*:
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
Recognition:
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
Announcements
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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