Mindteck (India) Limited (MINDTECK) AI Stock Analysis

• Market Cap: ₹8.32B
• Dividend Yield: 0.41%
• Average Volume (3M): 18.73K
• Price to Earnings (P/E): 26.7
• Beta (1Y): 1.94
• Revenue Growth: 4.32%
• EPS Growth: 10.71%
• Country: IN
• Employees: 760
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 2.74
• Shares Outstanding: 31,954,222
• 10 Day Avg. Volume: 45,077
• 30 Day Avg. Volume: 18,730
• PEG Ratio: 7.15
• Price to Book (P/B): 2.16
• Price to Sales (P/S): 1.30
• P/FCF Ratio: 24.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 70 Outperform
• Price Target: ₹286.00 ▲(14.22% Upside)

Mindteck (India) Limited demonstrates strong financial performance with robust revenue growth and effective cash flow management, which are the most significant factors contributing to the score. However, the technical analysis presents mixed signals, and the valuation metrics suggest the stock may be overvalued, which tempers the overall score.

Mindteck (India) Limited Business Overview & Revenue Model

Company Description

Mindteck (India) Limited (MINDTECK) is a global technology consulting and services company that specializes in providing engineering and IT solutions across various sectors, including healthcare, banking, financial services, and telecommunications. The company offers a range of services such as software development, product engineering, quality assurance, and IT consulting, focusing on delivering innovative solutions tailored to meet the unique needs of its clients.

How the Company Makes Money

Mindteck generates revenue primarily through its consulting and IT services, which include software development and maintenance, system integration, and IT support. The company's revenue model is based on project-based contracts, time-and-material engagements, and fixed-price contracts with clients. Key revenue streams include long-term contracts with established clients in various industries, as well as strategic partnerships with technology providers that enhance its service offerings. Additionally, Mindteck's focus on emerging technologies, such as IoT and digital transformation, positions it to capture new business opportunities and expand its market reach, thereby contributing to its earnings.

Mindteck (India) Limited Financial Statement Overview

Summary

Mindteck (India) Limited exhibits a robust financial standing with strong revenue growth, improved profit margins, and effective cash flow management. The company's conservative leverage and solid equity base provide financial stability, while positive cash flows enhance its financial flexibility. Despite some areas for improvement in asset utilization, the overall financial health of the company is strong and trending positively.

Income Statement

Mindteck (India) Limited has shown strong growth in its income statement metrics. The gross profit margin has increased significantly over the years, indicating better cost management and pricing strategies. The net profit margin has improved, showing enhanced profitability. Revenue growth has been consistent, demonstrating robust business performance and market demand. The EBIT and EBITDA margins have also improved, reflecting effective operational management and cost controls.

Balance Sheet

The company's balance sheet indicates a strong equity base, with a healthy equity ratio suggesting good financial stability. The debt-to-equity ratio is low, indicating conservative leverage levels, which reduces financial risk. Return on equity has improved, showcasing effective use of shareholders' equity to generate profits. The balance sheet is solid but could benefit from further improvements in asset utilization.

Cash Flow

Mindteck's cash flow statements reveal a strong free cash flow generation and positive operating cash flows, indicating good cash management. The free cash flow to net income and operating cash flow to net income ratios are healthy, demonstrating efficient conversion of income to cash. Free cash flow growth has been positive, which enhances financial flexibility for future investments.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.20B	4.32B	3.86B	3.37B	2.99B	2.87B
Gross Profit	791.20M	538.70M	608.40M	524.90M	565.80M	531.20M
EBITDA	407.50M	428.00M	388.70M	315.10M	440.00M	241.50M
Net Income	310.50M	286.80M	273.10M	207.70M	333.10M	108.60M
Balance Sheet
Total Assets	0.00	3.22B	2.76B	2.43B	2.29B	2.07B
Cash, Cash Equivalents and Short-Term Investments	1.34B	1.34B	1.25B	1.02B	768.20M	775.60M
Total Debt	0.00	74.40M	22.10M	56.30M	78.60M	260.10M
Total Liabilities	-2.60B	617.80M	546.20M	520.90M	538.40M	667.80M
Stockholders Equity	2.60B	2.60B	2.21B	1.91B	1.75B	1.40B
Cash Flow
Free Cash Flow	0.00	233.20M	210.20M	113.60M	205.20M	330.60M
Operating Cash Flow	0.00	241.30M	224.80M	127.20M	216.50M	337.10M
Investing Cash Flow	0.00	-74.30M	-127.30M	-104.00M	-200.00M	-252.90M
Financing Cash Flow	0.00	14.70M	-18.50M	-147.30M	-33.60M	131.30M

Mindteck (India) Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 250.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDTECK, the sentiment is Neutral. The current price of 250.4 is below the 20-day moving average (MA) of 273.98, above the 50-day MA of 245.26, and above the 200-day MA of 219.97, indicating a neutral trend. The MACD of 2.90 indicates Positive momentum. The RSI at 46.69 is Neutral, neither overbought nor oversold. The STOCH value of 9.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:MINDTECK.

Mindteck (India) Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INFOBEAN	73 Outperform	₹14.40B	22.76	―	0.16%	14.57%	80.44%
ONWARDTEC	72 Outperform	₹6.76B	16.41	―	1.73%	10.49%	69.49%
MINDTECK	70 Outperform	₹8.32B	26.73	―	0.41%	4.32%	10.71%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SUBEXLTD	48 Neutral	₹7.26B	-96.42	―	―	-8.61%	95.97%