Home Financial Record Mindtree starts FY23 with strong growth and record backlog

Mindtree starts FY23 with strong growth and record backlog


First-quarter revenue up 5.5% sequentially in constant currency; EBITDA margins at 21.1%; highest order book at $570 million

BENGALERU, India and WARREN, NJ , July 13, 2022 /PRNewswire/ — Mindtreea global technology services and digital transformation company, today announced its consolidated results for the first quarter ended June 30, 2022, as approved by its Board of Directors.

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“We are delighted to report a strong start to FY23 with robust revenue growth, strong margin and record backlog, demonstrating our continued industry-leading growth momentum,” said Debashis Chatterjee, Chairman and Chief Executive Officer and Managing Director of Mindtree. “With revenues of $399.3 million, up 5.5% sequentially in constant currency on healthy demand for our digital capabilities, this is our sixth consecutive quarter of revenue growth of over 5% in constant currency. Our EBITDA was 21.1%, underscoring our disciplined execution and operational rigor. Our highest backlog of $570 million reflects the relevance of our value proposition in achieving large-scale strategic transformation. We are proud of our dedicated teams who continue to exceed customer expectations with passion and determination.”

Key Financial Highlights:

Quarter ended June 302022

Other highlights:

About Mindtree

Mindtree [NSE: MINDTREE] is a global technology consulting and services company that enables companies in all industries to achieve superior competitive advantage, customer experience and business results by leveraging digital and cloud technologies. The digital transformation partner of approximately 275 of the world’s most pioneering companies, Mindtree brings deep domain, technology and consulting expertise to help reinvent business models, accelerate innovation and maximize growth. As a socially and environmentally responsible company, Mindtree focuses on growth as well as sustainability in creating long-term value for stakeholders. Powered by more than 37,400 talented and enterprising professionals in 24 countries, Mindtree, a Larsen & Toubro company, is consistently recognized as one of the best places to work. To learn more, please visit www.mindtree.com Where @Mindtree_Ltd.

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Certain statements in this release regarding our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause our actual results to differ materially from those in these forward-looking statements. Conditions caused by the COVID-19 pandemic could reduce customers’ technology spending, affect demand for our services, delay potential customers’ purchasing decisions, and impact our ability to provide on-site consulting services; all of which could adversely affect our future revenue, margin and overall financial performance. Our operations may also be adversely affected by a range of external factors related to the COVID-19 pandemic that are beyond our control. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.

For more information, contact: [email protected].

Mindtree Limited, Global Village, RVCE Post, Mysore Road, Bangalore-560059;

CIN: L72200KA1999PLC025564; Telephone: + 91 80 6706 4000; Fax: +91 80 6706 4100;

Email: [email protected]/[email protected]; Website: www.mindtree.com

Logo: https://mma.prnewswire.com/media/1004066/Mindtree_Logo.jpg



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SOURCE Mindtree