Mindtree: Robust Revenue Growth; Efficient Execution to Aid Margin Expansion

Equity Bottom-Up

134 Views, 17 Jan 2022 17:07

EXECUTIVE SUMMARY

Mindtree beat our estimates with revenue of Rs 2,750 Cr for Q3FY22, reporting revenue growth of 35.9% YoY and 6.3% QoQ
The company posted operating profits of Rs 592 Cr, registering a growth of 9.7% QoQ
We recommend a BUY on the stock and assign 40x P/E multiple to its FY24E earnings of Rs 131.5/share to arrive at a, implying an upside potential of 12% from CMP.

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