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About Mindtree


Mindtree is a company that focuses on technology services and digital transformation. It offers its services from the ideation stage to the execution stage. It was started in 1999, and it now has more than 37,000 employees all over the world. It has offices in both Bellevue and Bangalore. It offers services in mobile applications, e-commerce, digital transformation, cloud computing, EAI, data analytics, ERP, and testing. It works with more than 340 businesses and has 43 offices in 24 different countries.Mindtree was started in 1999 by 10 different promoters who had all worked in India's IT business. Three of the Company's co-founders invested via a Mauritius-registered vehicle. Sivan Securities, Walden International, Capital Group, and Franklin Templeton, as well as the Company's co-founders, contributed to the company's formation.A number of the Company's co-founders have subsequently gone, although several continue in high management positions. Mindtree has made many major acquisitions and expanded its facilities since its inception. In 2007, the company made an initial public offering on BSE & NSE, which was more than 100 times oversubscribed.

Core Activities & Products


Mindtree delivers software and technology solutions to clients in a variety of industries. The Company's four major business divisions are organised by client segment:
  • Financial Services, Banking and Insurance, which includes financial technology start-ups, banks and capital market operators.
  • CPG, Retail and Manufacturing, which includes semiconductor firms, original equipment manufacturers and retail organisations.
  • Airlines, Tour Operators, Hotels, and Travel Brokers , are all part of the travel and hospitality industry.
  • Media, Technology and Services, which includes independent software providers and media companies.

Board of Directors

  • Milind Sarwate
  • Ramamurthi Shankar Raman
  • Bijou Kurien
  • Jayant Damodar Patil
  • Akshaya Bhargava
  • Prasanna Rangacharya Mysore
  • Sekharipuram Narayanan Subrahmanyan
  • Apurva Purohit
  • Debashis Chatterjee
  • Anilkumar Manibhai Naik
  • Deepa Gopalan Wadhwa

Key Executives

  • Anil Kumar Gandharve - Chief Business Officer
  • Akshaya Bhargava - Independent Director
  • Apurva Purohit - Independent Director
  • Anilkumar Manibhai Naik - Non Executive Chairman
  • Chandrasekaran Ramakrishnan - Independent Director
  • Bijou Kurien - Independent Director
  • Deepa Gopalan Wadhwa - Independent Director
  • Debashis Chatterjee - Managing Director & CEO
  • Manikandesh Venkatachalam - Chief Business Officer
  • Gaurav Zibbu - General Manager
  • Manish Bhargava - Associate Vice President
  • Prasanna Rangacharya Mysore - Independent Director
  • Ramamurthi Shankar Raman - Non-Executive Director
  • Sekharipuram Narayanan Subrahmanyan - Non Executive Vice Chairman
  • Sreedhar Bhagavatheeswaran - Senior Vice President
  • Subhodh Shetty - Co. Secretary & Compl. Officer
  • Sumit Ralli - Vice President
  • Venugopal Lambu - Executive Director & President
  • Vijayaram Parupudi - Chief Business Officer
  • Vinit Ajit Teredesai - Chief Financial Officer
 

Presence


Mindtree has a website at www.mindtree.com where customers may obtain information about the Company's numerous services and products. However, the Company does not seem to have an online sales channel.Mindtree's in-house direct sales department accounts for the vast bulk of its sales. The company has sales teams in the United States, India, Japan, the United Kingdom, Malaysia, Singapore, Australia, Germany, Switzerland, Sweden, the United Arab Emirates, the Netherlands, Canada, Belgium, France, Ireland, South Africa, and China. Mindtree also works with a variety of channel partners, such as independent sales agents and distributors, to broaden the Company's sales reach.

Registered Office


Mindtree Ltd, Global Village, RVCE Post,
Mysore Road,Bengaluru-560059, Karnataka, India.
CIN: L72200KA1999PLC025564
E-mail: info@mindtree.com  

Strengths


Strengths are the talents and resources that a company may employ to grow, create and maintain a competitive edge in the marketplace.
  1. High Margins - Even though MindTree's profitability is under pressure, it still has better profit margins than its competitors.
  2. Success Of New Product Mix - MindTree offers its clients a wide range of product mix possibilities. It enables the organisation to appeal to different consumer groups in the Computer Services market.
  3. Track Record Of Innovation - While most firms in the technology industry aspire to innovate, MindTree has a proven track record of consumer-driven innovation.
  4. Strong Brand Recognition - MindTree products have a high level of brand awareness in the Computer Services market. This has allowed the firm to charge a higher price than its rivals in the Computer Services market.
  5. Brands Catering To Various Client Categories - MindTree's wide product offerings have assisted the firm in reaching out to various customer groups within the Computer Services market. It has also assisted the organisation in diversifying its funding sources.
 

Cost Structure


Mindtree incurs expenditures in the areas of product development and research, sales and marketing, IT infrastructure maintenance, relationship management and employee retention. The operation of the company's offices throughout Europe, North America, Asia, and the Middle East also incurs considerable expenditures. Mindtree's core resources include its intellectual property, technology and strategic alliances, IT infrastructure and software solutions, and manpower, particularly sales and support professionals.  


Key Partners


Mindtree works with a network of partners that provide a variety of services. The partners of the Company mostly work in the technology industry. Among its partners are:
  1. Channel Partners, which include independent sales agents and distributors, help Mindtree's sales and marketing teams reach a wider audience.
  2. Alliance Partners, are technology businesses with which the Company exchanges resources and capabilities as well as works on key joint venture initiatives.
Mindtree also collaborates with several high-profile technology companies as a reseller or distributor. This includes collaborations with Lansa in Australia and computer behemoth IBM. High-profile firms such as Adobe, Microsoft, IBM, Oracle, Datastax, Cloudera and Hortonworks are among Mindtree's Alliance Partners.

Key Activities


Mindtree is the parent company of the Mindtree Group, a multinational information technology consulting and implementation firm that provides business solutions via a variety of global software development services.Consumer Packaged Goods, Retail and Manufacturing, Financial Services, Banking and Insurance, Technology, Travel and Hospitality, Media and Services and Others are the Company's operating business segments.

Customer Relationships


The company strives to build long-term, collabor

ative partnerships with its clients. This is evidenced by its yearly customer experience survey, which is aimed to detect any gaps in customer relationship management and assist in the development of engaging client connections.Mindtree offers its clients continuous technical assistance via maintenance contracts. Customers may also contact the Company through email with questions or concerns. Mindtree may also communicate with its clients directly via its social media profiles on Twitter, Facebook, LinkedIn, YouTube, Google+, and SlideShare.


Mission


Mindtree's goal is to improve the efficiency and efficacy of its customers' IT management systems by offering a variety of technological solutions such as application development, analytics and sales force automation.

CSR and Sustainability


The firm's approach to corporate sustainability is based on its mission statement: 'We create meaningful technology solutions to help companies and society thrive.'Sustainability is a business imperative for Mindtree to create and maintain the essential circumstances for people, the world, and its profits to coexist in constructive coherence. This approach enables it to accept a broader set of principles, paving the path for conventional economic indicators to be measured alongside environmental and social success. Mindtree's practical approach to sustainability is based on the triple bottom line: processes, principles, practices, and services: people, planet, and profit. The framework is supported by three pillars:
  1. Governance And Advocacy: Mindtree's ideals are woven throughout the organisation and have been incorporated into every system and procedure. It conducts itself with the utmost honesty and transparency in professional transactions and dealings that may influence the workplace.
  2. Ecological Sustainability: It is one of the foundational pillars of Mindtree's sustainability paradigm. With the growing relevance of challenges such as climate change, energy security, and water scarcity, the company acknowledges environmental risks and the need of controlling its environmental effect.
  3. Workplace sustainability: Mindtree believes in a non-discriminatory workplace that supports equal job opportunities, health and well-being, diversity, and inclusion. By providing equitable working conditions to all Mindtree Minds, an occupational health and safety management system foster and maintains a safe work environment.

COVID-19 Impact


To address the issues that developed as a result of the scenario, Mindtree produced a strategy that included four distinct but critical areas: health and safety, business continuity, client assistance, and communications. The main goal was to guarantee that, even though the systems would be changing soon, everything continued to work normally. This meant that there had to be a lot of movement, and it had to happen rapidly.

Did You Know!


Mindtree is a 2015 ASTD BEST Award Winner, ranking 9th in the world! The ATD BEST Awards are the most stringent and valued distinction in the talent development sector. The initiative honours firms that have achieved enterprise-wide success via staff learning and development. This is Mindtree's third straight worldwide forum victory [2015, 2014, 2013].

Initial Public Offering


The MindTree IPO was a main-board IPO of 5,593,300 equity shares with a face value of Rs 10 and a total valuation of Rs 237.72 crores. The share price ranged from Rs 365 to Rs 425. The order quantity was limited to 15 shares. The IPO began on February 9, 2007, and ended on February 14, 2007. The registrant for the IPO was Mondkar Computers Private Limited. The shares were proposed for listing on the BSE and NSE.

Equity Shares


Mindtree, a Bangalore-based technology services and consulting firm, got off to a solid start in fiscal FY23, outperforming analysts' predictions across the board in the quarter ending June 2022 (Q1FY23) period, thanks to excellent margins and a robust order book. For the sixth quarter in a row, the company's constant currency revenue increased by more than 5%. During this time, Mindtree also made wise hiring decisions.Mindtree reported a net profit of Rs 471.6 crore in Q1FY23, an increase of 37.3% year on year but just 0.3% sequentially. Revenue was Rs 3,121.1 crore, increasing 36.2% year on year and 7.7% quarter on quarter. In dollar terms, the company's net profit was $60.3 million, up 29.7% year on year but down 3.8% year on year, while sales were $399.3 million, up 28.6% year on year and 4% year on year.This was its sixth consecutive quarter of more than 5% sales growth in constant currency, with revenues of $399.3 million, up 5.5% sequentially in constant currency on the strength of strong demand for its digital capabilities. Its EBITDA was 21.1%, demonstrating its focused execution and operational rigour. The firm's highest-ever order book of $570 million demonstrates the value proposition's applicability in executing business-critical change at scale.
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