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Mindteck (India) Limited (IN:MINDTECK)
:MINDTECK
India Market
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Mindteck (India) Limited (MINDTECK) AI Stock Analysis

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IN:MINDTECK

Mindteck (India) Limited

(MINDTECK)

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Outperform 73 (OpenAI - 4o)
Rating:73Outperform
Price Target:
₹232.00
▼(-1.92% Downside)
Mindteck (India) Limited's overall stock score is driven by its strong financial performance, characterized by robust revenue growth and effective cash flow management. The technical analysis presents mixed signals, with the stock trading below key moving averages but showing neutral RSI levels. The valuation is moderate, with a reasonable P/E ratio but a low dividend yield. These factors collectively suggest a stable but cautious outlook for the stock.

Mindteck (India) Limited (MINDTECK) vs. iShares MSCI India ETF (INDA)

Mindteck (India) Limited Business Overview & Revenue Model

Company DescriptionMindteck (India) Limited provides engineering and information technology (IT services in the United States, India, and internationally. The company offers cybersecurity, product development, software applications, Internet of Things (IoT) solution deployment and commissioning, and IoT enablement consulting services; embedded design, embedded verification and validation services, and system solutions; product lifecycle management consulting, advisory, system implementation and administration, system validation/testing, program management, and system integration/data migration services. It also provides mobile strategy consulting, user experience, design and development, and mobility testing services; hybrid cloud appliance, interoperable cloud storage, and business data analytics services; business intelligence, information/data management, big data services, advanced analytics, and analytics on unstructured data; and IT security services. In addition, it offers system and integration, specialized, software product, cloud based testing services, test strategy, automation, and infrastructure services; product engineering, re-engineering, and sustenance services; data center transformation and IT infrastructure management services; custom application development, application maintenance and management, legacy modernization, and performance engineering and enhancement services; application and enterprise systems integration, business process management, packaged application, SAP solutions, and service oriented architecture services; and smart city solutions. Further, the company sources and deploys IT talent. It serves Fortune 1000 companies, start-ups, universities, and government entities. The company was formerly known as Hinditron Informatics Limited and changed its name to Mindteck (India) Limited in September 1999. The company was incorporated in 1991 and is headquartered in Bengaluru, India. Mindteck (India) Limited is a subsidiary of Embtech Holdings Limited.
How the Company Makes MoneyMindteck (India) Limited generates revenue primarily through offering its IT and engineering services to clients across various industries. The company's key revenue streams include project-based engagements, where it provides customized software development and engineering solutions, and long-term managed services contracts for IT support and maintenance. Additionally, Mindteck collaborates with technology partners to deliver integrated solutions, enhancing its service offerings and market reach. The company's earnings are significantly influenced by its ability to secure contracts from both existing and new clients, as well as its strategic partnerships that enable it to expand its technological capabilities and geographical presence.

Mindteck (India) Limited Financial Statement Overview

Summary
Mindteck (India) Limited exhibits strong financial performance with significant revenue growth, improved profit margins, and effective cash flow management. The company's conservative leverage and solid equity base provide financial stability. However, there is room for improvement in asset utilization.
Income Statement
85
Very Positive
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
78
Positive
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
82
Very Positive
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.
BreakdownTTMDec 2025Dec 2023Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue4.26B4.32B3.37B3.86B2.99B2.87B
Gross Profit864.20M942.30M524.90M608.40M565.80M531.20M
EBITDA377.10M428.00M315.10M388.70M440.00M241.50M
Net Income255.20M286.80M207.70M273.10M333.10M108.60M
Balance Sheet
Total Assets3.22B3.22B2.43B2.76B2.29B2.07B
Cash, Cash Equivalents and Short-Term Investments1.34B1.34B1.02B1.25B768.20M775.60M
Total Debt74.40M74.40M56.30M22.10M78.60M260.10M
Total Liabilities617.80M617.80M520.90M546.20M538.40M667.80M
Stockholders Equity2.60B2.60B1.91B2.21B1.75B1.40B
Cash Flow
Free Cash Flow0.00233.20M113.60M210.20M205.20M330.60M
Operating Cash Flow0.00241.30M127.20M224.80M216.50M337.10M
Investing Cash Flow0.00-74.30M-104.00M-127.30M-200.00M-252.90M
Financing Cash Flow0.0014.70M-147.30M-18.50M-33.60M131.30M

Mindteck (India) Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price236.55
Price Trends
50DMA
210.27
Positive
100DMA
221.28
Positive
200DMA
222.31
Positive
Market Momentum
MACD
8.70
Negative
RSI
60.44
Neutral
STOCH
66.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDTECK, the sentiment is Positive. The current price of 236.55 is above the 20-day moving average (MA) of 222.42, above the 50-day MA of 210.27, and above the 200-day MA of 222.31, indicating a bullish trend. The MACD of 8.70 indicates Negative momentum. The RSI at 60.44 is Neutral, neither overbought nor oversold. The STOCH value of 66.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MINDTECK.

Mindteck (India) Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
₹7.77B24.990.42%4.32%10.71%
67
Neutral
₹6.61B20.1612.07%1.75%7.76%7.69%
62
Neutral
₹12.33B23.1511.43%0.20%9.57%99.67%
45
Neutral
₹6.77B-89.92-10.33%-8.61%95.97%
61
Neutral
$37.18B12.37-10.20%1.83%8.50%-7.62%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IN:MINDTECK
Mindteck (India) Limited
236.55
-54.94
-18.85%
IN:INFOBEAN
InfoBeans Technologies Ltd.
486.00
59.92
14.06%
IN:INNOVANA
Innovana Thinklabs Ltd.
487.10
12.10
2.55%
IN:MEGASOFT
Megasoft Limited
152.30
83.53
121.46%
IN:ONWARDTEC
Onward Technologies Limited
289.40
-119.21
-29.17%
IN:SUBEXLTD
Subex Limited
11.81
-16.14
-57.75%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Sep 05, 2025