Mindtree Crosses $1Billion in Annual Revenue

Reports Stellar Quarter with 4.2% q-o-q / 18.3% y-y growth
2019-04-17 21:05 11880

BANGALORE, India and WARREN, N.J., April 17, 2019 /PRNewswire/ -- 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," said 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:
    • 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
    • Net profit at $ 28.2 million (growth of 5.0% q-o-q / growth of 0.3% y-o-y)
  • In INR:
    • Revenue at INR 18,394 million (growth of 2.9% q-o-q / 25.6% y-o-y)
    • Net profit at INR 1,984 million (growth of 3.8% q-o-q / growth of 8.9% y-o-y)

Other highlights:

  • Clients:
    • 349 active clients as of March 31, 2019
    • $10 million clients grew by 2, total of 23
    • $5 million clients grew by 1, total of 45
    • $1 million clients grew by 4, total of 120
  • People:
    • 20,204 Mindtree Minds as of March 31, 2019
    • Trailing 12 months attrition is 14.2%
  • BOTs*:
    • Automation is playing a significant role in modernizing our technology service delivery, enhancing both efficiency and speed-to-results for our clients.
    • 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

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

    • 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
    • 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
    • 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
    • Mindtree is chosen as a strategic engineering partner for a leading web hosting company to provide sustainment and support services
  • Recognition:
    • 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
    • The 2019 ISG Provider Lens™ SIAM/ITSM Quadrant Report names Mindtree a Rising Star USA in Service Operation and Delivery
    • Mindtree named Leader for Digital Transformation and Leveraging Packaged Software Platforms archetypes in the 2018 ISG Provider Lens™ Next-gen ADM Services Archetype Report
    • Mindtree named Leader for Legacy Transformation and Cloud-first Transformation in the 2018 ISG Provider Lens™ Digital Business Transformation Archetype Report
    • Mindtree has been placed on The Best of The Global Outsourcing 100® list by the International Association of Outsourcing Professionals (IAOP)
    • Mindtree recognized as an Innovator in Avasant's Applied Intelligence and Advanced Analytics Services RadarView™ Report
  • Announcements
    • 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.

About Mindtree

Mindtree [NSE: MINDTREE] is a global IT consulting and services company which helps clients across 17 countries achieve business agility, competitive edge, and growth. We harness the power of Continuous Delivery, our digital expertise, industry knowledge, and research in emerging technologies to drive efficiencies and enable business innovation for over 349 clients.

Mindtree is consistently regarded as one of the best places to work. This is a reflection of our entrepreneurial, collaborative and dedicated "Mindtree Minds" who embody the winning culture that defines our commitment to excellence, innovation, and co-creation.

To learn more about us, visit or follow us @Mindtree_Ltd

Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;

CIN: L72200KA1999PLC025564; Phone: + 91-80-6706-4000; Fax: +91-80-6706-4100;

E-mail: /; Website:

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. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.

Visit us at For more information, contact:

Rahul Nag   

United States
Erik Arvidson
Matter Communications

Susie Wyeth

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Source: Mindtree
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