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Mindteck (India) Ltd

MINDTECK·NSE
161.50+2.25%Wed, 23 Sept '26 12:43

Mindteck (India) Ltd

MINDTECK
NSE
161.50
+2.25%
|Wed, 23 Sept '26 12:43
SOICxStockScans Reports
6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
516Cr
Close
Close Price
161.49
Industry
Industry
IT - Software
PE
Price To Earnings
16.58
PS
Price To Sales
1.26
Revenue
Revenue
410Cr
Rev Gr TTM
Revenue Growth TTM
-1.79%
PAT Gr TTM
PAT Growth TTM
0.26%

Quarterly Results

Consolidated
Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
989698108108104104101102100104104
Growth YoY
Revenue Growth YoY%
17.115.810.315.89.98.66.3-6.3-6.1-3.4-0.12.7
Expenses
ExpensesCr
9087909910095959294909396
Operating Profit
Operating ProfitCr
998999910710118
OPM
OPM%
8.98.97.78.37.98.88.29.57.110.410.37.8
Other Income
Other IncomeCr
222022234-333
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
111111111111
PBT
PBTCr
9988999111061210
Tax
TaxCr
221211222121
PAT
PATCr
7766887985108
Growth YoY
PAT Growth YoY%
56.730.519.82.42.210.34.937.1-0.1-36.349.4-4.5
NPM
NPM%
7.57.56.65.97.07.66.58.67.45.09.88.0
EPS
EPS
1.92.32.11.62.42.52.12.72.41.63.22.6
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
989698108108104104101102100104104
Growth YoY
Revenue Growth YoY%
17.115.810.315.89.98.66.3-6.3-6.1-3.4-0.12.7
Expenses
ExpensesCr
9087909910095959294909396
Operating Profit
Operating ProfitCr
998999910710118
OPM
OPM%
8.98.97.78.37.98.88.29.57.110.410.37.8
Other Income
Other IncomeCr
222022234-333
Interest Expense
Interest ExpenseCr
000000000000
Depreciation
DepreciationCr
111111111111
PBT
PBTCr
9988999111061210
Tax
TaxCr
221211222121
PAT
PATCr
7766887985108
Growth YoY
PAT Growth YoY%
56.730.519.82.42.210.34.937.1-0.1-36.349.4-4.5
NPM
NPM%
7.57.56.65.97.07.66.58.67.45.09.88.0
EPS
EPS
1.92.32.11.62.42.52.12.72.41.63.22.6

Profit & Loss

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
312342297299276287299337386424407410
Growth
Revenue Growth%
-2.49.6-13.10.9-7.83.84.212.714.510.1-4.0-1.8
Expenses
ExpensesCr
291331296295272267278310353389369374
Operating Profit
Operating ProfitCr
211114420212732353836
OPM
OPM%
6.63.20.41.51.66.87.08.18.48.39.38.9
Other Income
Other IncomeCr
2303-5952346677
Interest Expense
Interest ExpenseCr
001122111111
Depreciation
DepreciationCr
221276554555
PBT
PBTCr
211104-6416382634353938
Tax
TaxCr
-526215556777
PAT
PATCr
269-63-6511332127293231
Growth
PAT Growth%
35.1-64.2-160.8148.5-2,465.0116.8206.7-37.631.55.09.90.3
NPM
NPM%
8.32.7-1.90.9-23.53.811.26.27.16.87.77.6
EPS
EPS
8.43.0-1.80.9-20.63.510.66.67.09.09.99.7
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
312342297299276287299337386424407410
Growth
Revenue Growth%
-2.49.6-13.10.9-7.83.84.212.714.510.1-4.0-1.8
Expenses
ExpensesCr
291331296295272267278310353389369374
Operating Profit
Operating ProfitCr
211114420212732353836
OPM
OPM%
6.63.20.41.51.66.87.08.18.48.39.38.9
Other Income
Other IncomeCr
2303-5952346677
Interest Expense
Interest ExpenseCr
001122111111
Depreciation
DepreciationCr
221276554555
PBT
PBTCr
211104-6416382634353938
Tax
TaxCr
-526215556777
PAT
PATCr
269-63-6511332127293231
Growth
PAT Growth%
35.1-64.2-160.8148.5-2,465.0116.8206.7-37.631.55.09.90.3
NPM
NPM%
8.32.7-1.90.9-23.53.811.26.27.16.87.77.6
EPS
EPS
8.43.0-1.80.9-20.63.510.66.67.09.09.99.7

Balance Sheet

Consolidated
Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2525252525252525253232
Reserves
ReservesCr
164170164167103113149164192226269
Current Liabilities
Current LiabilitiesCr
3641373437594646505357
Non Current Liabilities
Non Current LiabilitiesCr
6271017886599
Total Liabilities
Total LiabilitiesCr
231240236239185207229243276322370
Current Assets
Current AssetsCr
126135123122114155160196232248323
Non Current Assets
Non Current AssetsCr
10510511311771527047447347
Total Assets
Total AssetsCr
231240236239185207229243276322370
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
2525252525252525253232
Reserves
ReservesCr
164170164167103113149164192226269
Current Liabilities
Current LiabilitiesCr
3641373437594646505357
Non Current Liabilities
Non Current LiabilitiesCr
6271017886599
Total Liabilities
Total LiabilitiesCr
231240236239185207229243276322370
Current Assets
Current AssetsCr
126135123122114155160196232248323
Non Current Assets
Non Current AssetsCr
10510511311771527047447347
Total Assets
Total AssetsCr
231240236239185207229243276322370

Cash Flow

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
17-124-1315342213222426
Investing Cash Flow
Investing Cash FlowCr
11-12-212-25-20-10-13-7-37
Financing Cash Flow
Financing Cash FlowCr
-2-1-3-3-913-3-15-21-7
Net Cash Flow
Net Cash FlowCr
16-11-12-181822-2-12818-18
Free Cash Flow
Free Cash FlowCr
17-131-1413332111212326
CFO To PAT
CFO To PAT%
65.8-124.8-68.5-470.1-23.4310.465.061.282.384.182.6
CFO To EBITDA
CFO To EBITDA%
82.4-105.6304.7-292.7337.6171.8104.247.069.368.468.6
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
17-124-1315342213222426
Investing Cash Flow
Investing Cash FlowCr
11-12-212-25-20-10-13-7-37
Financing Cash Flow
Financing Cash FlowCr
-2-1-3-3-913-3-15-21-7
Net Cash Flow
Net Cash FlowCr
16-11-12-181822-2-12818-18
Free Cash Flow
Free Cash FlowCr
17-131-1413332111212326
CFO To PAT
CFO To PAT%
65.8-124.8-68.5-470.1-23.4310.465.061.282.384.182.6
CFO To EBITDA
CFO To EBITDA%
82.4-105.6304.7-292.7337.6171.8104.247.069.368.468.6

Ratios

Consolidated
Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
2071981339436106337262515531469516
Price To Earnings
Price To Earnings
8.021.033.89.69.912.418.718.514.916.6
Price To Sales
Price To Sales
0.70.60.50.30.10.41.10.81.31.31.11.3
Price To Book
Price To Book
1.11.00.70.50.30.81.91.42.42.11.61.7
EV To EBITDA
EV To EBITDA
7.614.680.419.04.22.812.96.212.111.58.910.0
Profitability Ratios
Profitability Ratios
GPM
GPM%
78.878.179.478.782.380.976.276.774.670.074.474.4
OPM
OPM%
6.63.20.41.51.66.87.08.18.48.39.38.9
NPM
NPM%
8.32.7-1.90.9-23.53.811.26.27.16.87.77.6
ROCE
ROCE%
11.26.00.22.8-44.010.821.413.815.713.713.113.1
ROE
ROE%
13.74.8-3.01.4-50.77.919.111.012.611.110.510.5
ROA
ROA%
11.23.9-2.41.1-35.15.314.58.69.98.98.58.5
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
2071981339436106337262515531469516
Price To Earnings
Price To Earnings
8.021.033.89.69.912.418.718.514.916.6
Price To Sales
Price To Sales
0.70.60.50.30.10.41.10.81.31.31.11.3
Price To Book
Price To Book
1.11.00.70.50.30.81.91.42.42.11.61.7
EV To EBITDA
EV To EBITDA
7.614.680.419.04.22.812.96.212.111.58.910.0
Profitability Ratios
Profitability Ratios
GPM
GPM%
78.878.179.478.782.380.976.276.774.670.074.474.4
OPM
OPM%
6.63.20.41.51.66.87.08.18.48.39.38.9
NPM
NPM%
8.32.7-1.90.9-23.53.811.26.27.16.87.77.6
ROCE
ROCE%
11.26.00.22.8-44.010.821.413.815.713.713.113.1
ROE
ROE%
13.74.8-3.01.4-50.77.919.111.012.611.110.510.5
ROA
ROA%
11.23.9-2.41.1-35.15.314.58.69.98.98.58.5
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Mindteck is an engineering and technology innovation company that has spent more than three decades helping some of the world’s most demanding industries turn complex product ideas into reality. Founded in 1991 and built on deep expertise in embedded systems, the company has grown into a trusted partner for Fortune 1000 companies, startups, and government institutions in fields where precision is non-negotiable - medical devices, semiconductors, data storage, and analytical instruments. Its recurring approach is to embed itself in clients’ R&D cycles as an extended engineering team, blending domain knowledge with technology know-how to design, build, test, and modernise products across their entire lifecycle. # Business segments Two engines that feed each other - a foundational product-engineering practice organised around four deep verticals, and a dedicated testing engine that validates everything from embedded firmware to cloud platforms - both drawing on a shared pool of digital and infrastructure capabilities. ## 1. Product Engineering: where the company designs and builds its clients’ next products **Mindteck acts as an outsourced R&D lab for global OEMs, taking regulated, complex products from concept to manufacturing readiness across five specialist verticals.** - **Embedded systems are the core** - the company solves hardware, firmware, and software challenges in advanced medical devices and cutting-edge semiconductor systems, recently re-engineering a legacy Windows CE product to Linux and designing firmware for diagnostics and therapy devices for a global manufacturer. - **Medical devices demand regulatory rigour** - it has collaborated with the world’s top three medical device enterprises, contributing to a connected-care platform that monitors post-operative cardiac patients and performing the cybersecurity assessments that FDA regulations require for software-as-a-medical-device products. - **Analytical instruments is a three-decade franchise** - with over 32 years in the industry and relationships with the top seven global players, the team builds instrument-control software, customises laboratory information management systems, and develops secure data-validation platforms that meet global compliance standards. - **Data storage runs on proprietary tooling** - the company developed its own Hardware Acceptance Test Framework and builds AI-powered tools for its storage clients, while contributing to petabyte-scale cloud storage solutions and software-defined storage products for the top five data storage firms globally. - **Semiconductor work spans the fab floor** - using industry-standard SECS/GEM drivers and SEMI FA standards for 200mm and 300mm wafers, the team recently designed a scalable cluster-tool controller framework for a major equipment manufacturer and deployed AI-powered wafer-defect classification using convolutional neural networks. ## 2. Quality Engineering and Testing: the independent validation layer **A dedicated testing engine that stress-tests everything the company builds - and much that it doesn’t - with a particular depth in data-storage testing.** - **Domain-specific testing is the differentiator** - the engine has specialised proficiency in data-storage testing, where it developed a consulting-led, end-to-end automated storage testing framework methodology for clients. - **Medical devices get simulated human interaction** - in one recent engagement, the team built a Python-based, platform-independent automation test service that simulates human interaction with embedded medical devices across both Windows CE and Linux operating systems. - **Cloud testing is built into the offering** - the team designed a behaviour-driven cloud test framework for validating a cloud-connected automated external defibrillator platform, covering functional, regression, and cross-browser testing in a single automated suite. # Digital Engineering and Data Services **A shared capability layer that injects cloud, data, AI, mobility, and cybersecurity skills into every product-engineering and testing engagement - not a standalone business, but the connective tissue across them.** - **IoT connects the physical products to the cloud** - the company built a multi-layered IoT framework spanning edge devices, low-power wide-area networks, and cloud deployment on AWS and Azure, and recently migrated a UK renewable-energy provider’s system to Azure, where it now manages real-time data from 80,000 smart meters. - **An in-house AI lab accelerates everything** - the Data Science and AI Innovation Lab generates solutions in diagnostics, industrial IoT, semiconductors, and storage, while rolling out internal AI-powered tools that boost engineering productivity and automate parts of the testing lifecycle. - **Mobility ties devices to users** - a dedicated mobile-applications team builds native and hybrid apps for smart energy, medical patient monitoring, IoT device management, and industrial workforce applications, integrating with device communication protocols, payment gateways, and backend APIs. - **Cybersecurity is embedded in product design** - the company performs threat modelling and penetration testing on connected medical devices, including an engagement for a device operating inside an ambulance for a leading US manufacturer, helping clients meet GDPR, ISO 27001, and PCI DSS requirements. # Group structure and partners **A listed Indian parent with operating subsidiaries in six countries, held together by a zero-debt balance sheet and process certifications at the highest industry level.** - **Global delivery from two Indian hubs** - advanced development centres in Bengaluru and Kolkata house dedicated R&D laboratories, supported by local offices in the US, Canada, the UK, Germany, Singapore, Malaysia, and Bahrain. - **Wholly owned operating subsidiaries in every key market** - Mindteck, Inc. covers the United States; Mindteck (UK) Limited covers Europe and owns a selling and marketing arm in Germany; and separate operating entities serve Singapore, Malaysia, and the Middle East. - **Process maturity is independently validated** - the company holds CMMI Maturity Level 5, the highest rating, alongside ISO 9001:2015, ISO 13485:2016 for medical devices, and ISO 27001:2022 for information security. - **Promoter and alliances provide stability** - Embtech Holdings Limited of Mauritius is the promoter, and the company’s strategic alliances include the Intel Partner Alliance, Microsoft Gold Application Development, and the CMMI Institute.

Documents — Mindteck (India) Ltd

  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/g72hw2kxjuxumjpw6llx46dh.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/7tvvo0wpzb9wpq165f7dy3xm.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/hcb6gqtjxzozhzvb48l4hr53.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/mkha34llv6157gmflpmeqg1o.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/oeumydret547kof4gedq4shn.pdf
  • Q1 FY2025 Quarterly Result (Jun 2024, PDF): https://www.stockscans.in/document/8l6l6xn7dyg6cfhhovduqloi.pdf
  • Q4 FY2024 Quarterly Result (Mar 2024, PDF): https://www.stockscans.in/document/loggunihcbjl1no8o3zy1s47.pdf
  • Q3 FY2024 Quarterly Result (Dec 2023, PDF): https://www.stockscans.in/document/ssxupkiv35xt1rstu2esv4u9.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/8oh52o6hrrzeqtnhpglzlxrv.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/kpavasqahpqs4wmz8zingvil.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/xtxjvvwold4wuacu7snzy9hs.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/uvo5ft7x4gx7opwek4rove8v.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/qj6kjo8qwtr38wtnkn5lfbxr.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/syapgdg663zft8yeautvrjuw.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/phmwl9t7gpdu6t44sqh9h5oa.pdf