MarketFriction

Mindtree Ltd(Merged)

NSE MINDTREE · Computers - Software & Consulting
₹3,433.85 +0.14%
NSE close2022-11-22
Market cap₹56,643 Cr.
P/E30.0
Merged or delisted Delivery 66.7%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022
Sales1,9652,0501,9091,9262,0242,1092,2922,5862,7502,8973,1213,400
Expenses1,6591,7271,5871,5361,5561,6471,8272,0562,1582,2892,4632,704
Operating Profit306324322390468463464531592608658697
OPM %16%16%17%20%23%22%20%21%22%21%21%20%
Other Income351841246239727571904049
Interest131313131311131213121214
Depreciation706860577271586163606065
Profit before tax258261290345445419465532587626626667
Tax %24%21%26%26%27%24%26%25%25%24%25%24%
Net Profit197206213254326317343399438473472509
EPS in Rs11.9712.5312.9415.4019.8219.2720.8524.2126.5528.7128.6230.85
Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022TTM
Sales1,9152,3623,0323,5624,6735,2365,4637,0227,7647,96810,52512,169
Expenses1,6221,9092,4222,8533,8524,5324,7225,9576,6836,3118,3309,614
Operating Profit2934526107098217047401,0641,0821,6572,1962,555
OPM %15%19%20%20%18%13%14%15%14%21%21%21%
Other Income3835508484551908976152307249
Interest0100161917353505050
Depreciation706281102166186172164275260242248
Profit before tax2624245786917235557429878291,4982,2112,506
Tax %16%20%22%22%24%25%23%24%24%26%25%
Net Profit2183394515365524195707546311,1101,6531,891
EPS in Rs13.4920.3427.0332.0432.9324.9234.7845.9338.3367.43100.30114.73
Dividend Payout %7%15%23%27%49%40%32%72%34%37%27%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth19%15%14%35%
Compounded Profit Growth23%32%30%36%
Stock Price CAGR22%-4%%%
Return on Equity26%27%29%34%
Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Sep 2022
Equity Capital40424284168168164164165165165165
Reserves9171,2721,5991,9292,2472,4092,5783,1422,9924,1545,3095,504
Borrowings452533441003011567538556613
Other Liabilities3323524566398187146948721,4331,5052,1282,183
Total Liabilities1,3351,6912,0992,6553,2773,3913,7364,1795,1576,3618,1578,465
Fixed Assets2592593445561,1621,0229579671,4091,2761,3751,460
CWIP857503523199301422222
Investments3084265345352335937268047752,0472,5512,465
Other Assets7599491,1731,5291,8591,7572,0442,3792,9593,0164,2104,539
Total Assets1,3351,6912,0992,6553,2773,3913,7364,1795,1576,3618,1578,465
Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Cash from Operating Activity432062663225984216545646308251,9961,537
Cash from Investing Activity-38-228-189-217-203-416-459-200-1806-1,205-650
Cash from Financing Activity036-12-111-138-172-138-288-522-696-422-596
Net Cash Flow61465-7258-1675777-72135369292
Free Cash Flow-401581611704002905694634607031,9351,340
CFO/OP54%90%80%74%106%75%118%98%80%91%140%95%
Mar 2011Mar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Debtor Days687870727176626869685860
Inventory Days
Days Payable
Cash Conversion Cycle687870727176626869685860
Working Capital Days652739483446313151311320
ROCE %18%29%35%38%36%33%22%27%31%25%36%42%
Dec 2019Mar 2020Jun 2020Sep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022
Promoters73.64%74.11%73.49%67.59%61.03%61.03%61.02%61.00%61.00%60.99%60.99%60.95%
FIIs10.46%11.86%10.39%12.02%13.27%13.92%13.66%15.01%15.72%14.40%11.69%12.06%
DIIs6.24%5.78%7.88%11.97%10.62%10.86%11.99%10.11%9.71%10.47%12.06%11.82%
Public9.65%8.25%8.24%8.42%15.08%14.19%13.33%13.88%13.57%14.15%15.26%15.13%
Others0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%
No. of Shareholders83,17176,88681,28383,4871,03,4881,11,1211,31,2611,94,1582,30,0112,67,3343,33,0193,44,689

Fundamentals

Market Cap₹ 56,643 Cr.
Current Price₹ 3,434
Stock P/E30.0
Book Value₹ 344
ROCE41.5 %
ROE33.8 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)35%
Compounded Profit Growth (TTM)36%
Consolidated figures.
Valuation
Market capRs 56,601 Cr
Enterprise valueRs 56,106 Cr
P/E (TTM)29.93x
Price to book10.34x
Price to sales4.65x
EV / EBITDA20.01x
EV / EBIT21.95x
EV / sales4.61x
Price to cash flow36.83x
Earnings yield3.34%
Dividend yield0.79%
P/E, 3-year average31.81x
P/B, 3-year average8.41x
P/E, 5-year average27.64x
P/B, 5-year average6.91x
Profitability
Operating margin (excl. other income)20.86%
Operating margin (incl. other income)23.78%
EBITDA margin23.04%
Pre-tax margin20.59%
Net profit margin15.54%
Net margin, latest quarter14.96%
ROE33.76%
ROCE41.54%
ROA22.77%
ROE, 3-year average27.66%
ROCE, 3-year average34.24%
ROA, 3-year average18.52%
ROE, 5-year average25.87%
ROCE, 5-year average32.09%
ROA, 5-year average18.12%
ROIC (approx.)38.39%
Tax rate25.23%
Other income / net worth5.61%
Growth
Sales growth (latest year)32.10%
Profit growth (latest year)48.84%
Sales CAGR, 3 years14.45%
Sales CAGR, 5 years14.98%
Profit CAGR, 3 years29.90%
Profit CAGR, 5 years31.61%
Sales growth QoQ8.95%
Profit growth QoQ7.87%
Sales growth YoY (latest quarter)31.48%
Profit growth YoY (latest quarter)27.53%
Per share
EPS (TTM)Rs 114.72
EPS (latest year)Rs 100.28
EPS (latest quarter)Rs 30.86
EPS, 3-year averageRs 68.68
EPS, 5-year averageRs 57.35
Book value per shareRs 332.09
Sales per shareRs 738.25
Cash flow per shareRs 93.25
Free cash flow per shareRs 81.29
Dividend per share (latest year)Rs 26.99
Dividend per share, 3-year averageRs 21.66
Dividend per share, 5-year averageRs 21.80
Dividends
Dividend payout26.92%
Dividend payout, 3-year average32.64%
Dividend payout, 5-year average40.28%
Efficiency
Asset turnover1.29x
Fixed asset turnover7.65x
Inventory turnover331.85x
Inventory days1 days
Debtor days60 days
Debtors turnover6.08x
Cash conversion cycle60 days
Working capital days20 days
Leverage
Total debtRs 556 Cr
Cash and bankRs 1,051 Cr
Net debtRs -496 Cr
Debt to equity0.10x
Net debt / EBITDA-0.18x
Interest coverage50.62x
Owners' fund to total sources67.10%
Debt to assets6.81%
Cash flow
Cash from Operating Activity (latest year)Rs 1,537 Cr
Cash from Investing Activity (latest year)Rs -650 Cr
Cash from Financing Activity (latest year)Rs -596 Cr
Net Cash Flow (latest year)Rs 292 Cr
Free cash flow (latest year)Rs 1,340 Cr
FCFE (approx.: FCF + change in debt)Rs 1,358 Cr
Cash from ops / profit, 5 years1.18x
Sales to cash flow6.85x
Statement figures
Net sales (TTM)Rs 12,169 Cr
Net sales (latest year)Rs 10,525 Cr
Sales (latest quarter)Rs 3,400 Cr
Operating profit excl. other income (latest year)Rs 2,196 Cr
Operating profit (latest quarter)Rs 697 Cr
Other income (TTM)Rs 249 Cr
EBITDA (TTM)Rs 2,804 Cr
PBDT (TTM)Rs 2,754 Cr
Profit before tax (TTM)Rs 2,506 Cr
Tax (latest year)Rs 558 Cr
Net profit (TTM)Rs 1,891 Cr
Net profit (latest year)Rs 1,653 Cr
Net profit (latest quarter)Rs 509 Cr
Depreciation (TTM)Rs 248 Cr
Depreciation (latest quarter)Rs 65 Cr
Interest (TTM)Rs 50 Cr
Cost of goods sold (latest year)Rs 1,361 Cr
Total expenditure (latest year)Rs 8,330 Cr
Total income (latest year)Rs 10,833 Cr
Share capitalRs 165 Cr
ReservesRs 5,309 Cr
Shareholders' fundsRs 5,474 Cr
Total assetsRs 8,157 Cr
Net blockRs 1,375 Cr
Capital work in progressRs 22 Cr
InvestmentsRs 2,551 Cr
ReceivablesRs 1,731 Cr
InventoryRs 4 Cr
Other liabilitiesRs 2,128 Cr
Shares outstanding (crore)16.48
Ownership
Promoter holding60.95% (-0.05 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 29.9 is at the 57th percentile of its own 6.2-year range (median 28.3, low 13.0, high 59.7).
P/B 10.34 is at the 80th percentile (median 5.61).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodMINDTREENifty 50Difference
1 week-7.5%-2.8% -4.7 pts
1 month-0.7%-6.8% +6.1 pts
3 months-2.5%-7.6% +5.2 pts
6 months+18.4%+0.4% +18.0 pts
1 year-29.0%-9.9% -19.1 pts
2 years+155.9%-13.6% +169.4 pts
3 years+384.9%+14.2% +370.7 pts
5 years+561.1%+27.9% +533.2 pts

Red flags

F-score 7 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Sep 2022
Sales ₹3,400 Cr +31.5% vs Sep 2021. Net profit ₹509 Cr +27.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2022-07-05Annual General Meeting/Dividend - Rs 27 Per Share
2021-10-21 Interim Dividend - Rs 10 Per Share
2021-07-05 Annual General Meeting/Dividend - Rs 17.50 Per Share
2020-10-26 Interim Dividend - Rs 7.50 Per Share
2020-07-06 Annual General Meeting/Dividend - Rs 10 Per Share
2019-10-24 Interim Dividend - Rs 3 Per Eq Share
2019-07-08 Annual General Meeting/Dividend Rs 4 Per Share/Special Dividend Rs 20 Per Share
2019-04-25 Interim Dividend - Rs 3 Per Share
2019-01-23 Interim Dividend - Rs 3 Per Share
2018-10-25 Interim Div - Rs 3 Per Share
2018-07-09 Annual General Meeting/Dividend- Rs 3 Per Share
2018-04-25 Interim Dividend - Rs 2 Per Share (Purpose Revised)
2018-01-24 Interim Dividend Rs 2/- Per Share (Purpose Revised)
2017-11-02 Interim Dividend - Rs 2/- Per Share/ Special Dividend Rs 2/- Per Share (Purpose Revised)
2017-07-10 Buyback
2017-07-10 Annual General Meeting/Dividend - Rs 3/- Per Share
2017-04-07 Interim Dividend Rs 2/- Per Share (Purpose Revised)
2017-01-25 Interim Dividend Rs 2/- Per Share (Purpose Revised)
2016-10-28 Interim Dividend Rs 3/- Per Share
2016-07-08 Annual General Meeting/Dividend Rs 3/- Per Share
2016-04-11 Interim Dividend - Rs 2/- Per Share (Purpose Revised)
2016-03-09 Bonus 1:10.5000
2016-01-25 Interim Dividend - Rs 4/- Per Share (Purpose Revised)
2015-10-21 Interim Dividend Rs.4/- Per Share (Purpose Revised)
2015-07-21Interim Dividend - Re 3/- Per Share
2015-06-11Annual General Meeting/ Final Dividend - Rs 10/- Per Share
2015-01-23Interim Dividend - Rs 4/- Per Share (Purpose Revised)
2014-10-20Interim Dividend Rs.3/- Per Share (Purpose Revised)
2014-07-09Annual General Meeting / Final Dividend - Rs 2.5/- Per Share And Special Dividend - Rs 2.5/- Per Share
2014-06-03Bonus 1 : 10.5000
2014-04-21Third Interim Dividend - Rs 5/- Per Share (Purpose Revised)
2014-01-21Second Interim Dividend Rs 5/- Per Share
2013-10-21Interim Dividend Rs.5/- Per Share
2013-07-12Annual General Meeting / Final Dividend - Rs 5/- Per Equity Share
2013-05-03Second Interim Dividend Rs 4/- Per Equity Share
2012-10-25Interim Dividend Rs 3 Per Share
2012-07-06Annual General Meeting And Dividend Rs.1.50 Per Share
2011-10-31Interim Dividend Rs.1.50 Per Share And Special Dividend Re.1 Per Share
2011-07-13Annual General Meeting/Dividend Rs 1.25 Per Share
2010-11-01Interim Dividend-Rs.1.25 Per Share
2010-07-14Annual General Meeting And Final Dividend Rs.2/- Per Share
2009-11-05Int Div-Re.1/- Per Share
2009-06-25Annual General Meeting
2008-11-06Interim Dividend - 10%
2008-06-19Agm/Dividend - 10% Bc End Date Revised
2007-10-29Int Div-Re.1.00 Per Sh Purpose Revised
2007-07-09Dividend-Rs.1/- Per Share
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Mindtree Ltd(Merged)?

Mindtree Ltd(Merged) (MINDTREE) has a market capitalisation of Rs 56,643 Cr. at the 2022-11-22 close.

What is the P/E ratio of Mindtree Ltd(Merged)?

Mindtree Ltd(Merged) trades at a P/E of 30.0 on trailing twelve-month profit, at the 2022-11-22 close.

What were Mindtree Ltd(Merged)'s latest quarterly results?

In the Sep 2022 quarter, Mindtree Ltd(Merged) sales was Rs 3,400 Cr (+31.5% vs Sep 2021) and net profit was Rs 509 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03