Mindteck (India) Ltd

₹ 229 1.37%

22 Nov 9:22 a.m.

About

Incorporated in 1991, Mindteck Ltd is in the business of rendering engineering and IT services^[1]

Key Points

Business Overview:^[1]
Mindteck is a CMMI Level 5 and ISO 9001:2015, ISO 13485:2016, and ISO 27001 certified, engineering and technology solutions company
which specializes in embedded systems, enterprise applications, testing, and professional services provided to Fortune 1000 companies, start-ups, universities, and government entities worldwide

Website BSE NSE

Market Cap ₹ 729 Cr.
Current Price ₹ 229
High / Low ₹ 368 / 135
Stock P/E 44.0
Book Value ₹ 53.8
Dividend Yield 0.34 %
ROCE 13.7 %
ROE 10.7 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 19.0% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 18.1%

Cons

Stock is trading at 4.19 times its book value
The company has delivered a poor sales growth of 5.35% over past five years.
Company has a low return on equity of 9.84% over last 3 years.
Earnings include an other income of Rs.6.89 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: IT - Software Industry: Computers - Software - Medium / Small

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	30.48	27.52	28.92	31.38	32.96	31.56	33.61	34.42	34.50	34.67	36.10	41.44	39.17
	25.99	24.48	23.55	26.27	28.43	27.01	26.67	28.82	28.79	28.79	31.43	36.20	33.51
Operating Profit	4.49	3.04	5.37	5.11	4.53	4.55	6.94	5.60	5.71	5.88	4.67	5.24	5.66
OPM %	14.73%	11.05%	18.57%	16.28%	13.74%	14.42%	20.65%	16.27%	16.55%	16.96%	12.94%	12.64%	14.45%
	0.42	0.88	1.18	1.07	0.64	1.05	0.53	1.08	1.03	1.05	3.41	1.11	1.32
Interest	0.10	0.08	0.14	0.14	0.14	0.16	0.16	0.14	0.12	0.11	0.08	0.06	0.03
Depreciation	1.12	1.08	1.17	1.12	1.00	1.07	1.08	1.08	1.07	1.07	1.10	1.09	1.09
Profit before tax	3.69	2.76	5.24	4.92	4.03	4.37	6.23	5.46	5.55	5.75	6.90	5.20	5.86
Tax %	31.71%	18.12%	25.57%	20.12%	26.80%	30.66%	20.39%	27.47%	25.23%	23.13%	16.81%	25.77%	24.74%
	2.52	2.26	3.90	3.93	2.95	3.03	4.96	3.96	4.15	4.42	5.74	3.86	4.41
EPS in Rs	0.79	0.70	1.21	1.22	0.92	0.94	1.57	1.25	1.31	1.40	1.81	1.21	1.38
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	58	76	80	87	84	88	108	92	104	114	130	140	151
	54	56	62	74	78	85	97	85	86	98	109	118	130
Operating Profit	4	19	19	13	6	4	10	7	18	17	21	22	21
OPM %	6%	26%	23%	15%	7%	4%	9%	8%	18%	15%	16%	15%	14%
	0	1	1	2	3	2	2	-58	3	3	4	7	7
Interest	0	0	0	0	0	0	1	2	1	0	1	0	0
Depreciation	0	1	2	2	1	1	2	6	6	5	4	4	4
Profit before tax	3	19	18	14	7	4	10	-59	14	15	20	24	24
Tax %	46%	38%	36%	39%	37%	55%	30%	1%	39%	26%	24%	23%
	2	12	11	8	4	2	7	-59	9	11	15	18	18
EPS in Rs	0.57	3.85	3.67	2.60	1.39	0.60	2.25	-18.51	2.67	3.42	4.71	5.76	5.80
Dividend Payout %	0%	20%	22%	31%	58%	134%	36%	0%	0%	23%	17%	14%

Compounded Sales Growth
10 Years:	6%
5 Years:	5%
3 Years:	10%
TTM:	13%

Compounded Profit Growth
10 Years:	3%
5 Years:	19%
3 Years:	25%
TTM:	3%

Stock Price CAGR
10 Years:	17%
5 Years:	58%
3 Years:	42%
1 Year:	29%

Return on Equity
10 Years:	5%
5 Years:	7%
3 Years:	10%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	25	25	25	25	25	26	26	26	26	26	25	25	32
Reserves	121	130	142	148	153	154	160	96	105	116	121	138	139
	3	0	0	0	1	0	0	12	7	8	6	2	0
	6	13	20	21	15	23	28	22	19	20	18	22	20
Total Liabilities	155	168	187	194	195	203	213	156	157	170	169	187	191
	2	4	4	3	2	9	13	22	9	10	7	4	2
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	123	123	123	123	123	132	137	68	67	67	67	67	67
	30	41	60	68	69	62	63	66	81	93	95	115	122
Total Assets	155	168	187	194	195	203	213	156	157	170	169	187	191

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-2	13	11	15	-5	0	-0	6	21	20	10	16
	-1	-2	-1	1	2	-13	-3	12	-25	-19	6	-2
	3	-3	-3	-3	-1	-3	-3	-8	-4	-3	-15	-6
Net Cash Flow	0	7	8	13	-5	-16	-7	10	-9	-3	2	8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	63	51	85	61	64	78	88	77	92	80	86	88
Inventory Days
Days Payable
Cash Conversion Cycle	63	51	85	61	64	78	88	77	92	80	86	88
Working Capital Days	39	19	23	5	64	58	77	75	62	50	63	67
ROCE %	2%	13%	11%	8%	4%	2%	6%	2%	11%	11%	13%	14%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	63.91%	63.90%	63.84%	63.79%	64.40%	65.04%	65.01%	64.93%	64.91%	64.83%	64.61%	64.49%
	0.38%	0.21%	0.30%	0.24%	0.22%	0.20%	0.21%	0.20%	0.20%	0.33%	0.22%	0.04%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%
	34.09%	34.27%	34.24%	34.35%	33.74%	33.11%	33.13%	33.23%	33.23%	33.92%	35.15%	35.47%
	1.62%	1.62%	1.62%	1.61%	1.63%	1.65%	1.65%	1.64%	1.64%	0.92%	0.00%	0.00%
No. of Shareholders	19,297	22,328	22,886	22,855	20,783	19,962	19,809	19,272	20,710	22,246	25,624	32,698

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	64.73%	64.29%	64.13%	64.13%	64.13%	63.90%	65.04%	64.83%	64.49%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.21%	0.20%	0.33%	0.04%
	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	35.27%	34.01%	34.25%	34.25%	34.25%	34.27%	33.11%	33.92%	35.47%
	0.00%	1.63%	1.62%	1.62%	1.62%	1.62%	1.65%	0.92%	0.00%
No. of Shareholders	10,735	10,825	10,694	10,971	9,843	22,328	19,962	22,246	32,698

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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Concalls

Jul 2024

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May 2019

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Feb 2019

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Aug 2018

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Feb 2018

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Feb 2016

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