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Mindteck (India) Ltd

MINDTECK
NSE
202.28
1.29%
Last Updated:
30 Apr '26, 4:00 PM
Company Overview
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Mindteck (India) Ltd

MINDTECK
NSE
202.28
1.29%
30 Apr '26, 4:00 PM
Company Overview
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6M
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Quick Ratios

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Mkt Cap
Market Capitalization
646Cr
Close
Close Price
202.28
Industry
Industry
IT - Software
PE
Price To Earnings
22.96
PS
Price To Sales
1.59
Revenue
Revenue
407Cr
Rev Gr TTM
Revenue Growth TTM
-2.60%
PAT Gr TTM
PAT Growth TTM
-0.71%
Peer Comparison
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MINDTECK
VS

Quarterly Results

Upcoming Results on
19 May 2026
Consolidated
Standalone
Numbers
Percentage
QuarterMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue
RevenueCr
8993989698108108104104101102100
Growth YoY
Revenue Growth YoY%
20.514.917.115.810.315.89.98.66.3-6.3-6.1-3.4
Expenses
ExpensesCr
8286908790991009595929490
Operating Profit
Operating ProfitCr
78998999910710
OPM
OPM%
7.78.18.98.97.78.37.98.88.29.57.110.4
Other Income
Other IncomeCr
12222022234-3
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
111111111111
PBT
PBTCr
78998899911106
Tax
TaxCr
122212112221
PAT
PATCr
567766887985
Growth YoY
PAT Growth YoY%
80.921.756.730.519.82.42.210.34.937.1-0.1-36.3
NPM
NPM%
6.16.77.57.56.65.97.07.66.58.67.45.0
EPS
EPS
1.72.01.92.32.11.62.42.52.12.72.41.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue
RevenueCr
319312342297299276287299337386424407
Growth
Revenue Growth%
-2.49.6-13.10.9-7.83.84.212.714.510.1-4.0
Expenses
ExpensesCr
290291331296295272267278310353389372
Operating Profit
Operating ProfitCr
292111144202127323536
OPM
OPM%
9.16.63.20.41.51.66.87.08.18.48.38.8
Other Income
Other IncomeCr
12303-595234666
Interest Expense
Interest ExpenseCr
000112211111
Depreciation
DepreciationCr
222127655455
PBT
PBTCr
28211104-64163826343536
Tax
TaxCr
9-52621555677
PAT
PATCr
19269-63-65113321272928
Growth
PAT Growth%
35.1-64.2-160.8148.5-2,465.0116.8206.7-37.631.55.0-1.8
NPM
NPM%
6.08.32.7-1.90.9-23.53.811.26.27.16.86.9
EPS
EPS
6.38.43.0-1.80.9-20.63.510.66.67.09.08.8

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
Equity CapitalCr
252525252525252525253232
Reserves
ReservesCr
138164170164167103113149164192226248
Current Liabilities
Current LiabilitiesCr
513641373437594646505352
Non Current Liabilities
Non Current LiabilitiesCr
56271017886597
Total Liabilities
Total LiabilitiesCr
219231240236239185207229243276322339
Current Assets
Current AssetsCr
112126135123122114155160196232248280
Non Current Assets
Non Current AssetsCr
10710510511311771527047447359
Total Assets
Total AssetsCr
219231240236239185207229243276322339

Cash Flow

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating Cash Flow
Operating Cash FlowCr
2317-124-13153422132224
Investing Cash Flow
Investing Cash FlowCr
-111-12-212-25-20-10-13-7
Financing Cash Flow
Financing Cash FlowCr
-3-2-1-3-3-913-3-15-21
Net Cash Flow
Net Cash FlowCr
1916-11-12-181822-2-12818
Free Cash Flow
Free Cash FlowCr
2117-131-14133321112123
CFO To PAT
CFO To PAT%
119.665.8-124.8-68.5-470.1-23.4310.465.061.282.384.1
CFO To EBITDA
CFO To EBITDA%
78.782.4-105.6304.7-292.7337.6171.8104.247.069.368.4

Ratios

Consolidated
Standalone
Financial YearMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
1602071981339436106337262515531
Price To Earnings
Price To Earnings
8.48.021.00.033.80.09.69.912.418.718.5
Price To Sales
Price To Sales
0.50.70.60.50.30.10.41.10.81.31.3
Price To Book
Price To Book
1.01.11.00.70.50.30.81.91.42.42.1
EV To EBITDA
EV To EBITDA
4.37.614.680.419.04.22.812.96.212.111.5
Profitability Ratios
Profitability Ratios
GPM
GPM%
100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0100.0
OPM
OPM%
9.16.63.20.41.51.66.87.08.18.48.3
NPM
NPM%
6.08.32.7-1.90.9-23.53.811.26.27.16.8
ROCE
ROCE%
17.311.26.00.22.8-44.010.821.413.815.713.7
ROE
ROE%
11.813.74.8-3.01.4-50.77.919.111.012.611.1
ROA
ROA%
8.811.23.9-2.41.1-35.15.314.58.69.98.9
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
### **Overview** Mindteck (India) Limited is a globally recognized engineering and technology solutions provider with over three decades of experience in delivering high-value, end-to-end product engineering and digital transformation services. Established in 1991 and publicly listed on the BSE (517344) and NSE (MINDTECK), the company operates across eight countries with strategic delivery centers in Bengaluru and Kolkata, India. Appraised at **CMMI Level 5**, Mindteck demonstrates world-class process maturity and operational excellence in software and systems engineering. The company serves a prestigious global clientele, including **Fortune 1000 companies, startups, universities, and government institutions**, with a strong presence in high-impact, regulated industries such as **medical devices, semiconductors, data storage, analytical instrumentation, and enterprise IT systems**. --- ### **Core Service Offerings** Mindteck offers a comprehensive portfolio of services, structured around: 1. **Embedded Systems Engineering** – Full-lifecycle development covering architecture, hardware design, firmware, mechanical engineering, integration, testing, and validation. – Domain-specific expertise in **medical devices and semiconductor systems**, with focus on accelerating time-to-market and enhancing product reliability and performance. 2. **Digital & Engineering R&D Services** – End-to-end solutions in **AI/ML, cloud-native architectures, IoT, cybersecurity, and data engineering**. – **AI/ML Innovation Lab (launched in 2024)** delivering high-impact solutions in diagnostics, industrial IoT, and semiconductor storage using CNNs, EfficientNet, and LLMs. 3. **Enterprise Applications & IT Infrastructure** – Development and modernization of enterprise systems, cloud migration (private, public, hybrid), DevOps/DevSecOps, and managed IT services. – **Dedicated IT Infrastructure Services Team** providing remote support in data centers, networks, security, and ITIL compliance. 4. **Testing & Quality Assurance** – Comprehensive **end-to-end QA services** including manual, automation, performance, security/penetration, and user acceptance testing. – Specialized in **data storage testing**, embedded systems, medical devices, and interoperability. – Development of proprietary test frameworks and the **Hardware Acceptance Test Framework (HATS)** for storage reliability. 5. **IoT & Smart Systems** – End-to-end **IoT solutions** across manufacturing, energy, healthcare, and security. – Applications in **predictive maintenance, asset tracking, remote diagnostics, smart buildings, connected vehicles, and wearables**. – Developed a scalable **IoT Framework** featuring edge computing, LPWAN, cloud (AWS/Azure), AI/ML analytics, and computer vision. 6. **Semiconductor & High-Precision Instrumentation** – Tailored engineering for **semiconductor equipment manufacturers, fabs, and subsystem vendors**. – Expertise in **SEMI FA Standards (200mm/300mm), SECS/GEM, MES integration, recipe servers, AMHS**, and **R2R control systems**. – Solutions in **machine vision, predictive analytics, and factory automation** to optimize yield and quality. --- ### **Key Focus Areas (2024–2025)** - **AI & Automation Integration** – Applied AI/ML to domains such as **remote patient monitoring, predictive lab informatics, and enterprise risk assessment**. – Internally developed AI tools improving **engineering productivity, testing efficiency, and project lifecycle management**. – Implemented **LLM-based risk assessment engines** analyzing structured/unstructured data including logs, policies, and reports. - **Digital Transformation in Healthcare & MedTech** – Enabled digital care platforms with **telemedicine, connected care, and medical software cybersecurity**. – Developed **deep learning models for wafer defect classification** and **real-time patient monitoring apps**. – Built a **cloud-based emergency care informatics platform** integrating multiple remote monitoring systems. - **Enterprise & Data Engineering** – Designed a **scalable Common Cluster Tool Controller (CTC) Framework** for next-gen semiconductor tools. – Built an **Enterprise Data Management Platform** with ETL pipelines, analytics, dashboards, and compliance controls. – Implemented **cloud-based document solutions** integrated with SharePoint, SAP, and RDBMS for secure workflows. - **Cloud & Storage Technologies** – Key partner in **data storage innovation**, supporting top-tier clients in **HCI, composable infrastructure, and software-defined storage**. – Developed **NIC drivers, IPv6 RAID integration, BMC software (IPMI/Redfish), BIOS firmware**, and **storage security tools**. – Contributed to **VMware ESXi and KVM (RHEL)** virtualization environments. - **Regulatory & Compliance-Centric Solutions** – Designed **secure Scientific Data Validation Platform** with e-signatures, audit trails, and encryption for global compliance (FDA, GxP). – Delivered **IV&V (Independent Verification & Validation)** services and cybersecurity assessments for **Software as a Medical Device (SaMD)**. --- ### **Strategic Partnerships & Innovation Leadership** - **Technology Alliances**: Intel Partner Alliance, Microsoft (Gold Application Development), SNIA, CMMI Institute, IoT Global Network, and GE Digital Alliance. - **Academic & Research Collaboration**: Founding contributor to **The Atlas of Economic Complexity**, developed by Harvard University’s Center for International Development. - **Internal Innovation**: – **Data Science & AI Lab (2024)** producing cutting-edge diagnostics and industrial IoT solutions. – Proprietary tools: **HATS, EDA Freeze II Framework, USB CAN-based DeviceNet Masters, and automated testing accelerators**. --- ### **Global Operations & Delivery Model** - **Global Presence**: Offices in the **U.S. (Naples, FL & Newark, CA), UK, Germany, Canada, Singapore, Malaysia, Bahrain, and India**. - **Subsidiaries**: – Operating: Mindteck Singapore, UK, Middle East, Malaysia, Germany, Canada. – Investment Arm: Chendle Holdings Limited (U.S.). – Closure: Mindteck Solutions Philippines Inc. (in progress). - **Workforce**: – Total global headcount increased from **534 to 645 (as of Jul 2024)**. – Over **330 employees** in the U.S., 257 in the UK, with 30 in Malaysia and key teams in India. - **Delivery Model**: **Best-shore Delivery Model** combining **onsite, offshore, nearshore, and hybrid engagements** to optimize agility, cost, and performance. --- ### **Client Base & Market Positioning** - **Strategic Clients Include**: – Top 5 **data storage** firms – Top 3 **medical device** companies – Top 6 **semiconductor** corporations – Top 7 **analytical instrument** providers - **Long-Term Relationships**: Some client partnerships exceed **19 years**, reflecting strong trust and domain integration. - **Notable Projects (2023–2025)**: – Cloud-based emergency care platform – Deep learning model for semiconductor defect detection – Enterprise Data Management Platform – Scientific Data Validation System with regulatory compliance – CTC Framework for semiconductor equipment – Mobile app and cloud solutions for front-line workers