MindTree Ltd

MindTree Ltd, an IT and R&D services company, announced its consolidated results for the fourth quarter ending March 31, 2008 and FY08.

For Q4FY08, the company’s total income grew by 37.3% YoY and 14.6% QoQ to Rs.217.80 crore. PAT rose 41.5% YoY and 66.9% QoQ to Rs.34.70 crore. IT services constituted 77.8 per cent of total income and the remaining came from R&D services. Revenue from India increased to 8.9% of total revenue, compared with 4.7% in Q4FY07 while the revenue from USA declined marginally to 62.4% from 64.7%.

For FY08, on a consolidated basis, total income grew by 28.4% over the previous year to Rs.767.78 crore. PAT increased by 14.7% over the previous year to Rs.103.28 crore. The EPS grew to Rs 27.45 against the guidance of Rs 24.50.

102 new customers were added during the year, bringing the current active customer base to 206, including 41 Fortune Global 500 companies. Its employee strength was increased to 5,640 (as on March 31, 2008), a net addition of 1,478 people during the FY. Of this, 934 were recruited from campuses across the country. It also commenced operations from its own SEZ development center in Chennai and the SEZ facility in Bangalore.

For FY09, the company has given a robust guidance. It is expected to earn $228 million to $238 million in software revenue, indicating a growth of 24-29% as compared to that of FY2007-'08. Net profit is expected to be $31.7 million to $33.1 million, representing a growth of 23-29%. EPS is expected to be in the range of Rs 32.7-34.1, a growth of 19-24%. And when the company has issued this guidance, it was made on the basis of Rs 39.40 per US dollar. Since then the rupee has depreciated substantially and this would translate into profits surpassing the given guidance.

Currently at Rs.427, stay invested and buy for long term if it dips below Rs.400-395.
source s.p.tulsian