Mindteck (India) Limited (IN:MINDTECK)
:MINDTECK
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Mindteck (India) Limited
(MINDTECK)
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Rating:63Neutral
Price Target:
₹171.00
▼(-22.73% Downside)
Action:DowngradedDate:03/24/26
The score is primarily supported by strong and improving financial performance (growth, margins, cash generation, and conservative leverage). This is meaningfully offset by weak technicals (below key moving averages with negative MACD and depressed momentum) and a less attractive valuation profile (high P/E and low yield).
Positive Factors
Improving profit margins
Sustained improvement in gross and net margins reflects better cost management, pricing and operational execution. Higher margins create durable earnings power, support reinvestment or returns to shareholders, and make profits less sensitive to revenue volatility over months.
Negative Factors
Asset utilization needs improvement
Suboptimal asset utilization limits revenue per employee and return on assets, constraining scalability of margins. Without efficiency improvements, the company may struggle to convert balance-sheet strength into higher growth or ROE over the coming months.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving profit margins
Sustained improvement in gross and net margins reflects better cost management, pricing and operational execution. Higher margins create durable earnings power, support reinvestment or returns to shareholders, and make profits less sensitive to revenue volatility over months.
Read all positive factors
Mindteck (India) Limited (MINDTECK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.33B
Dividend Yield0.5%
Average Volume (3M)18.73K
Price to Earnings (P/E)32.3
Beta (1Y)1.89
Revenue Growth0.23%
EPS Growth10.64%
CountryIN
Employees760
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)1.58
Shares Outstanding31,954,222
10 Day Avg. Volume45,077
30 Day Avg. Volume18,730
Financial Highlights & Ratios
PEG Ratio7.15
Price to Book (P/B)2.16
Price to Sales (P/S)1.30
P/FCF Ratio24.03
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mindteck (India) Limited Business Overview & Revenue Model
Company Description
Mindteck (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...
How the Company Makes Money
Mindteck primarily makes money by providing outsourced engineering and IT services to business customers under service contracts. Key revenue streams generally include: (1) Time-and-materials billing, where clients pay for the hours/days of engine...
Mindteck (India) Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.13B | 4.32B | 3.86B | 3.37B | 2.99B | 2.87B |
| Gross Profit | 753.30M | 538.70M | 608.40M | 524.90M | 565.80M | 531.20M |
| EBITDA | 450.00M | 428.00M | 388.70M | 315.10M | 440.00M | 241.50M |
| Net Income | 310.40M | 286.80M | 273.10M | 207.70M | 333.10M | 108.60M |
Balance Sheet | ||||||
| Total Assets | 3.39B | 3.22B | 2.76B | 2.43B | 2.29B | 2.07B |
| Cash, Cash Equivalents and Short-Term Investments | 1.64B | 1.34B | 1.25B | 1.02B | 768.20M | 775.60M |
| Total Debt | 57.20M | 74.40M | 22.10M | 56.30M | 78.60M | 260.10M |
| Total Liabilities | 590.40M | 617.80M | 546.20M | 520.90M | 538.40M | 667.80M |
| Stockholders Equity | 2.80B | 2.60B | 2.21B | 1.91B | 1.75B | 1.40B |
Cash Flow | ||||||
| Free Cash Flow | 87.70M | 233.20M | 210.20M | 113.60M | 205.20M | 330.60M |
| Operating Cash Flow | 89.10M | 241.30M | 224.80M | 127.20M | 216.50M | 337.10M |
| Investing Cash Flow | 217.50M | -74.30M | -127.30M | -104.00M | -200.00M | -252.90M |
| Financing Cash Flow | -48.30M | 14.70M | -18.50M | -147.30M | -33.60M | 131.30M |
Mindteck (India) Limited Technical Analysis
Negative
221.30
Price Trends
205.13
Negative
212.52
Negative
220.61
Negative
Market Momentum
-12.08
Positive
31.24
Neutral
5.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDTECK, the sentiment is Negative. The current price of 221.3 is above the 20-day moving average (MA) of 188.67, above the 50-day MA of 205.13, and above the 200-day MA of 220.61, indicating a bearish trend. The MACD of -12.08 indicates Positive momentum. The RSI at 31.24 is Neutral, neither overbought nor oversold. The STOCH value of 5.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MINDTECK.
Mindteck (India) Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ₹7.36B | 22.14 | ― | ― | 25.98% | 18.29% | |
67 Neutral | ₹13.40B | 25.81 | ― | 0.13% | 14.57% | 80.44% | |
63 Neutral | ₹5.33B | 32.30 | ― | 0.50% | 0.23% | 10.64% | |
62 Neutral | ₹5.43B | 15.89 | ― | 1.84% | 10.49% | 69.49% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
46 Neutral | ₹4.27B | 56.55 | ― | ― | -9.53% | 96.99% |
* Technology Sector Average
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Mindteck (India) Limited Corporate Events
Mindteck Launches E-Postal Ballot to Ratify Board Appointment of Non-Executive Director
Feb 1, 2026
Mindteck (India) Limited has initiated a postal ballot process to seek shareholder approval for special business items, notably the regularisation and appointment of Mr. Javed Gaya as a Non-Executive Director, following his earlier designation as ...
Mindteck Launches E-Voting Postal Ballot to Confirm New Non-Executive Director
Feb 1, 2026
Mindteck (India) Limited has initiated a postal ballot process conducted exclusively through electronic voting to seek shareholder approval on special business, including the appointment of Mr. Javed Gaya as a Non-Executive Director. The company h...
Mindteck Publishes Share Re-Lodgement Notice in Line with SEBI Norms
Dec 28, 2025
Mindteck (India) Limited has notified the stock exchanges that it has published newspaper advertisements regarding a special window for re-lodgement of shares, in line with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements...
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.