Bengaluru, February 5, 2025 – Mindteck (India) Limited (BSE: 517344), a global technology solutions company, announced its unaudited financial results for the quarter and nine months ended December 31, 2024.
Key Financial Highlights (Standalone)
(₹ in Lakhs, unless otherwise stated)
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
3,587
3,917
3,467
11,648
10,359
13,969
Other Income
108
132
105
351
316
428
Total Income
3,695
4,049
3,572
11,999
10,675
14,397
Total Expenses
3,254
3,463
2,997
10,452
8,999
12,260
Profit Before Tax (PBT)
441
586
575
1,547
1,676
2,366
Net Profit
329
441
442
1,156
1,253
1,827
Basic EPS (₹)
1.03
1.39
1.39
3.63
3.96
5.78
Key Financial Highlights (Consolidated)
(₹ in Lakhs, unless otherwise stated)
Particulars
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
Revenue from Operations
10,402
10,823
9,575
32,040
28,763
38,553
Other Income
183
175
152
554
480
646
Total Income
10,585
10,998
9,727
32,594
29,243
39,199
Total Expenses
9,653
10,097
8,854
29,796
26,676
35,846
Profit Before Tax (PBT)
932
901
873
2,798
2,567
3,353
Net Profit
793
757
719
2,188
2,083
2,731
Basic EPS (₹)
2.49
2.38
2.31
6.90
6.70
8.69
Segment Performance (Geographical Revenue)
(₹ in Lakhs)
Region
Q3 FY25
Q2 FY25
Q3 FY24
9M FY25
9M FY24
FY24 (Audited)
USA
4,479
4,968
4,142
14,579
12,977
17,255
India
1,913
2,020
1,413
5,755
4,112
5,769
Rest of the World
4,010
3,835
4,020
11,706
11,674
15,529
Total
10,402
10,823
9,575
32,040
28,763
38,553
Corporate Developments
Stock Option Grants:
The Nomination and Remuneration Committee granted 1,04,517 options under the Mindteck Employees Stock Option Scheme 2005, 2008, and 2014.
54,167 options were granted to Key Managerial Personnel.
Bonus Issue:
6,369,611 bonus shares were allotted on September 20, 2024, in the ratio of 1:4.
As a result, the paid-up equity capital increased to ₹3,185 lakhs.
Restructuring in the US Market:
The company restructured its sales operations in the US, incurring a one-time ₹173 lakhs restructuring cost in 9M FY25.
Mindteck Employees Welfare Trust Merger:
The company merged the financials of the Trust with its standalone results effective November 12, 2024.
Interest income of ₹3 lakhs from the Trust’s fixed deposit is now part of other income.
Management Commentary
Anand Balakrishnan, CEO & Managing Director, stated: "We are pleased with the consistent growth in revenues and profitability. Our focus on efficiency improvements, restructuring in the US, and strategic investments in technology solutions have positioned us well for sustained growth. The bonus issue and stock option grants reaffirm our commitment to enhancing shareholder value and rewarding our employees."
Strategic Outlook
The company expects continued momentum in the IT services segment.
Increased investments in AI, cloud, and cybersecurity services are set to drive growth.
The US and India remain key revenue contributors, with expansion efforts underway in Europe and the Middle East.
Conclusion
Mindteck’s financial results for Q3 FY25 reflect steady growth in revenue and profits despite a challenging macroeconomic environment. The company's strategic restructuring, ESOP grants, and geographical expansion efforts position it for long-term value creation.
