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Mindteck (India) Limited
(MINDTECK)
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Rating:66Neutral
Price Target:
₹187.00
▼(-4.32% Downside)
Action:Downgraded
Date:08/28/26
The score is primarily supported by strong financial resilience (low leverage, positive and consistent free cash flow) and a reasonable P/E. These positives are meaningfully offset by weak technicals (price below major moving averages, negative MACD, and very low RSI/Stoch), while the low dividend yield provides limited additional support.
Positive Factors
Very low leverage and strong equity base
Minimal debt and a growing equity base reduce financial risk, interest burden, and refinancing pressure. This gives Mindteck flexibility to withstand demand fluctuations and continue funding operations without relying heavily on external capital.
Negative Factors
Latest revenue contraction
The latest top-line decline suggests slower client demand or project activity after several years of growth. If sustained, weaker revenue would reduce utilization and operating leverage, limiting the company’s ability to expand profits without improved bookings or pricing.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and strong equity base
Minimal debt and a growing equity base reduce financial risk, interest burden, and refinancing pressure. This gives Mindteck flexibility to withstand demand fluctuations and continue funding operations without relying heavily on external capital.
Read all positive factors
Mindteck (India) Limited (MINDTECK) vs. iShares MSCI India ETF (INDA)
Market Cap
₹5.50B
Dividend Yield0.59%
Average Volume (3M)3.58K
Price to Earnings (P/E)17.5
Beta (1Y)1.79
Revenue Growth-1.79%
EPS Growth0.05%
CountryIN
Employees701
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)9.74
Shares Outstanding31,954,222
10 Day Avg. Volume2,694
30 Day Avg. Volume3,582
Financial Highlights & Ratios
PEG Ratio1.60
Price to Book (P/B)1.54
Price to Sales (P/S)1.15
P/FCF Ratio14.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mindteck (India) Limited Business Overview & Revenue Model
Company Description
Mindteck (India) Limited operates as a global provider of engineering and information technology (IT) services, serving clients across the United States, India, and various international regions. The company delivers a broad spectrum of specialize...
How the Company Makes Money
Mindteck primarily makes money by providing professional services to clients under commercial contracts, where revenue is recognized based on delivery of agreed services and project milestones. Key revenue streams typically include (1) time-and-ma...
Mindteck (India) Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
73
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.10B | 4.07B | 4.32B | 3.86B | 3.37B | 2.99B |
| Gross Profit | 627.10M | 652.50M | 538.70M | 608.40M | 524.90M | 565.80M |
| EBITDA | 373.90M | 446.10M | 428.00M | 388.70M | 315.10M | 440.00M |
| Net Income | 311.30M | 315.20M | 286.80M | 273.10M | 207.70M | 333.10M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.70B | 3.22B | 2.76B | 2.43B | 2.29B |
| Cash, Cash Equivalents and Short-Term Investments | 1.92B | 1.92B | 1.34B | 1.25B | 1.02B | 768.20M |
| Total Debt | 0.00 | 38.80M | 74.40M | 22.10M | 56.30M | 78.60M |
| Total Liabilities | -3.04B | 662.80M | 617.80M | 546.20M | 520.90M | 538.40M |
| Stockholders Equity | 3.04B | 3.04B | 2.60B | 2.21B | 1.91B | 1.75B |
Cash Flow | ||||||
| Free Cash Flow | 87.70M | 313.90M | 233.20M | 210.20M | 113.60M | 205.20M |
| Operating Cash Flow | 89.10M | 319.00M | 241.30M | 224.80M | 127.20M | 216.50M |
| Investing Cash Flow | 217.50M | -432.00M | -74.30M | -127.30M | -104.00M | -200.00M |
| Financing Cash Flow | -48.30M | -67.90M | 14.70M | -18.50M | -147.30M | -33.60M |
Mindteck (India) Limited Technical Analysis
Negative
195.45
Price Trends
191.94
Negative
198.70
Negative
201.18
Negative
Market Momentum
-5.99
Negative
33.69
Neutral
56.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MINDTECK, the sentiment is Negative. The current price of 195.45 is above the 20-day moving average (MA) of 178.59, above the 50-day MA of 191.94, and below the 200-day MA of 201.18, indicating a bearish trend. The MACD of -5.99 indicates Negative momentum. The RSI at 33.69 is Neutral, neither overbought nor oversold. The STOCH value of 56.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MINDTECK.
Mindteck (India) Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | ₹4.84B | 15.41 | ― | 0.09% | 21.23% | 53.75% | |
73 Outperform | ₹6.30B | 14.96 | ― | 1.84% | 10.51% | 31.80% | |
68 Neutral | ₹6.72B | 11.14 | ― | 2.40% | 8.25% | 15.33% | |
66 Neutral | ₹5.50B | 17.49 | ― | 0.52% | -1.79% | 0.05% | |
66 Neutral | ₹4.02B | 13.06 | ― | 13.87% | 4.74% | -11.10% | |
60 Neutral | ₹4.71B | 12.60 | ― | ― | -2.21% | -53.12% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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Mindteck (India) Limited Corporate Events
Mindteck Files SEBI Dematerialisation Compliance Certificate for June Quarter
Jul 6, 2026
Mindteck (India) Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The company confirmed that all securities receive...
Mindteck appoints veteran HR leader as Senior Vice President – Human Resources
Jun 22, 2026
Mindteck (India) Limited has strengthened its senior leadership team by appointing HR veteran Rozario Arun Prakash as Senior Vice President – Human Resources, effective July 1, 2026. The move, approved by the Board of Directors and disclosed...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.