Mindteck (India) Limited (MINDTECK) AI Stock Analysis

• Market Cap: ₹5.77B
• Dividend Yield: 0.5%
• Average Volume (3M): 18.73K
• Price to Earnings (P/E): 32.3
• Beta (1Y): 1.86
• Revenue Growth: 0.23%
• EPS Growth: 10.64%
• Country: IN
• Employees: 760
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 1.58
• 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: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 63 Neutral
• Price Target: ₹191.00 ▼(-13.69% Downside)
• Action: Downgraded Date: 03/24/26
• Date: Action: Downgraded 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

Free Cash Flow Generation

Consistent strong free cash flow provides durable financial flexibility: it funds organic investment, supports working capital for service contracts, and reduces dependence on external financing. Over 2–6 months this strengthens the firm's ability to invest in digital/engineering capabilities and absorb demand swings.

Negative Factors

Revenue Contraction

Negative revenue growth points to soft demand or client attrition which can erode scale advantages in services businesses. If the trend persists beyond a quarter, it pressures utilization, pricing leverage and long-term investment capacity, making margin improvements harder to sustain.

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...

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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...

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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

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

• Technical Analysis Sentiment: Positive
• Last Price: 221.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 221.3 is above the 20-day moving average (MA) of 172.31, above the 50-day MA of 196.37, and above the 200-day MA of 217.21, indicating a neutral trend. The MACD of -7.19 indicates Negative momentum. The RSI at 50.93 is Neutral, neither overbought nor oversold. The STOCH value of 65.06 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INNOVANA	68 Neutral	₹7.77B	22.14	―	―	25.98%	18.29%
INFOBEAN	67 Neutral	₹15.27B	25.81	―	0.13%	14.57%	80.44%
MINDTECK	63 Neutral	₹5.77B	32.30	―	0.50%	0.23%	10.64%
ONWARDTEC	62 Neutral	₹5.57B	15.89	―	1.84%	10.49%	69.49%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
SUBEXLTD	46 Neutral	₹4.87B	56.55	―	―	-9.53%	96.99%

Mindteck (India) Limited Corporate Events