FINANCIAL STATEMENTS OF

MIND TREE LTD.

INTRODUCTION
MindTree Limited, formerly known as MindTree Consulting Limited is a mid-sized
international information technology (IT) consulting and implementation company.

Operates in two units:

1) production engineering services

2)IT services
Started in 1999 by ten industry professionals from Cambridge Technology
Partners, Lucent Technologies, and Wipro. Currently co-headquartered in Warren, New Jersey,
and Bangalore, India
MindTree is ranked #18 in Indian IT companies and overall #445 in Fortune India 500 list
of 2011.
MindTree was involved in the creation of Bluetooth technology and is an Associate Member of
the Bluetooth Special Interest Group
One of significant project during the first quarter of the 201011 fiscal year was providing
application development, maintenance, and support services for the Government of India's
nation-wide Unique Identification (UID) project, called Aadhar.

PROFIT & LOSS - MINDTREE LTD.

Mar'11

Mar'10

Mar'09

Mar'08

Mar'07

12 Months

12 Months

12 Months

12 Months

12 Months

1,509.00

1,233.25

1,012.57

733.84

590.35

Excise Duty

NET SALES

1,509.00

1,233.25

1,012.57

733.84

590.35

Other Income

1,539.10

1,238.61

1,017.86

755.02

596.04

EXPENDITURE:
Manufacturing
Expenses
Material Consumed

90.8

73.58

41.39

29.16

351.62

Personal Expenses

985.3

743.74

519.92

430.74

51.69

11.2

6.97

5.66

5.2

6.84

236.8

175.31

178.32

141.91

69.47

1,324.10

999.6

745.3

607.01

479.61

INCOME:
Sales Turnover

TOTAL INCOME

Selling Expenses
Administrative
Expenses
Expenses Capitalised
Provisions Made
TOTAL
EXPENDITURE

PROFIT & LOSS - MINDTREE LTD

Operating Profit
EBITDA
Depreciation
Other Write-offs
EBIT
Interest
EBT
Taxes
Profit and Loss for the
Year
Non Recurring Items
Other Non Cash
Adjustments
Other Adjustments
REPORTED PAT
KEY ITEMS
Preference Dividend
Equity Dividend
Equity Dividend (%)
Shares in Issue (Lakhs)
EPS - Annualised (Rs)

184.9
215
71.2
0
143.8
7.2
136.6
29.5

233.65
239.01
61.06
0
177.96
5.12
172.84
38.12

267.27
272.56
46.86
0
225.7
19.35
206.35
2.54

126.83
148.01
34.93
0
113.08
6.93
106.15
8.55

110.74
116.43
24.44
0
91.99
4.05
87.94
-0.4

107.1

134.72

203.81

97.6

88.43

15.6

71.95

-173.81

6.58

1.63

0.4

1.43

0
123.1

0
208.1

0
30.01

0
104.18

0
90.05

0
10
25
400.35
30.75

0
11.82
29.91
395.15
52.66

0
3.8
10
379.97
7.9

0
7.57
19.97
379.21
27.47

0
6.82
18.06
377.53
23.85

BALANCESHEET - MINDTREE LTD.

Particulars

Mar'11

Mar'10

Mar'09

Mar'08

Mar'07

Liabilities

12 Months

12 Months

12 Months

12 Months

12 Months

40

39.51

38

37.98

37.77

Reserves & Surplus

736.4

606.48

492.36

496.05

397.71

Net Worth

776.4

646

530.36

534.03

435.48

137.57

91.72

26.38

Unsecured Loans

4.6

3.05

1.8

TOTAL LIABILITIES

781

649.05

669.72

625.75

461.85

Gross Block

562.4

451.22

388.93

347.44

136.79

(-) Acc. Depreciation

261.8

197.32

149.41

111.76

80.03

Net Block

300.6

253.9

239.52

235.68

56.76

Share Capital

Secured Loans

Assets

BALANCESHEET - MINDTREE LTD

Capital Work in
Progress.

2.8

24.22

4.27

23.29

13.18

113.5

196.26

310.84

165.49

214.06

Sundry Debtors

282.5

221.75

214.99

172.17

117.16

Cash And Bank

44

34.85

28.83

54.65

76.8

Loans And Advances

272.2

211.3

137.6

108.26

87.67

Total Current Assets

598.7

467.9

381.41

335.08

281.62

Current Liabilities

181.6

249.46

249.88

111.53

86.16

53

43.76

16.43

22.26

17.6

Total Current Liabilities

234.6

293.23

266.31

133.79

103.76

NET CURRENT
ASSETS

364.1

174.68

115.1

201.29

177.86

781

649.05

669.72

625.75

461.85

Investments.
Inventories

Provisions

Misc. Expenses
TOTAL ASSETS
(A+B+C+D+E)

RATIO ANALYSIS
Profitability Ratios
Mar'11

Mar'10

Mar'09

Mar'08

Mar'07

12.25

18.94

26.39

17.28

18.75

Gross Profit Margin(%)

7.53

13.99

21.76

12.52

14.61

Net Profit Margin(%)

7.99

16.8

2.94

13.79

15.1

Return On Capital Employed(%)

18.41

27.41

33.7

18.07

19.91

Return On Net Worth(%)

15.85

32.21

5.65

19.51

20.67

Operating Profit Margin(%)

RATIO ANALYSIS
Liquidity And Solvency Ratios
Mar'11

Mar'10

Mar'09

Mar'08

Mar'07

Current Ratio

2.55

1.6

1.43

2.5

2.06

Quick Ratio

2.46

1.54

1.38

2.44

2.67

Debt Equity Ratio

0.01

--

0.26

0.17

0.06

Long Term Debt Equity Ratio

0.01

--

0.26

0.17

0.02

Debtors Turnover Ratio

5.99

5.65

5.23

5.07

5.2

Asset Turnover Ratio

2.72

2.73

2.6

2.11

4.32

Dividend Payout Ratio

Earnings Per Share

9.5

6.64

14.82

8.5

8.76

30.75

52.66

7.9

27.47

23.85

TREND ANALYSIS(Balance sheet)

OWNER'S FUND
Equity Share
Capital
Share Application
Money
Reserves & Surplus

Mar-11

Trend
%age

Mar10

Trend
%age

Mar09

Trend
%age

Mar08

40

105.96

39.51

104.66

38

100.66

37.92

(Amt in crores)
Trend Mar- Trend %
%age
07
(Base
Year)

100.45

37.75
100

0.00

0.00

0.00

0.05

250.00

0.02
100

736.2

185.11 631.12

158.69 513.28

129.06 495.16

124.50 397.71
100

LOAN FUNDS
Secured Loans
Unsecured Loans

0
4.6

0.00
0.00

0
3.05

0.00 137.57
0.00
1.8

521.49
0.00

91.89
0

348.33
0.00

26.38
0

Total
USES OF FUNDS
Gross Block

780.8

169.06 673.69

145.87 690.64

149.54 625.03

135.33 461.85

562.4

411.14 528.76

386.55 640.14

467.97 379.58

277.49 136.79

Less : Accumulated
Depreciation

261.8

327.13 252.12

315.03 210.96

263.60 118.91

148.58

Net Block
Capital Work-inprogress
Investments

300.6
2.8

529.60 276.64
21.24 24.66

487.39 429.18
187.10 13.04

756.13 260.67
98.94 23.29

459.25
176.71

100
100
100
100

80.03

56.76
13.18

100
100
100

111.2

51.95 127.25

59.45 101.33

47.34 139.51

65.17 214.06

100

TREND ANALYSIS(Balance sheet)

(Amt in crore)

NET CURRENT ASSETS

Current Assets,
Loans & Advances

600.6

213.27

505.5

179.50 488.08

173.31

340.8

121.01 281.62

100
Less : Current
Liabilities &
Provisions

234.4

225.91 260.36

250.93 308.22

297.05 139.25

134.20 103.76

100
Total Net Current
Assets

366.2

205.89 245.14

137.83 179.86

101.12 201.55

113.32 177.86

100
Total

780.8

169.06 673.69

145.87

723.4

156.63 625.03

135.33 461.85
100

TREND ANALYSIS (Profit & Loss a/c)

Trend
%age
Mar'11

Trend
%age
Mar'10

Trend
%age
Mar'09

(Amt in crore)

Trend
%age
Mar'08

Mar'07

Trend
%
(Base
Year)

INCOME:
Sales Turnover
Excise Duty
NET SALES
Other Income
TOTAL INCOME

1,509.0
0
0
1,509.0
0
0
1,539.1
0

EXPENDITURE:
Manufacturing
90.8
Expenses
Material Consumed 0

1,233.2
5
0.00
0
1,233.2
255.61
5
0.00
0
1,238.6
258.22
1
255.61

25.82

73.58

1,012.5
7
0.00
0
1,012.5
208.90
7
0.00
0
1,017.8
207.81
6
208.90

20.93

41.39

171.52 733.84 124.31

590.35

0.00

0.00

171.52 733.84 124.31

590.35

0.00

0.00

170.77 755.02 126.67

596.04

11.77

351.62

29.16

8.29

Personal Expenses

985.3

Selling Expenses
Administrative
Expenses
TOTAL
EXPENDITURE

11.2

0.00
0
1,906.1
743.74
7
163.74 6.97

236.8

340.87 175.31 252.35 178.32 256.69 141.91 204.28

1,324.1
276.08 999.6
0

0.00
0
0.00
0
0.00
1,438.8
519.92 1,005.84 430.74 833.31
5
101.90 5.66
82.75 5.2
76.02

208.42 745.3

155.40 607.01 126.56

0
51.69
6.84

69.47
479.61

100
100
100
100

100

100
100
100
100
100

100

TREND ANALYSIS (Profit & Loss a/c)

(Amt in crore)

Operating Profit

184.9

166.97 233.65 210.99 267.27 241.35 126.83 114.53

110.74

100

EBITDA

215

184.66 239.01 205.28 272.56 234.10 148.01 127.12

116.43

100

Depreciation

71.2

291.33 61.06

249.84 46.86

191.73 34.93

142.92

24.44

100

Other Write-offs

0.00

0.00

0.00

0.00

100

EBIT

143.8

156.32 177.96 193.46 225.7

245.35 113.08 122.93

91.99

100

Interest

7.2

177.78 5.12

477.78 6.93

4.05

100

EBT

136.6

155.33 172.84 196.54 206.35 234.65 106.15 120.71

87.94

100

29.5

7,375.0 38.12
0

Taxes
Profit and Loss for
the Year

107.1

126.42 19.35

9,530.0 2.54
0

-635.00 8.55

171.11

-2137.50 -0.4
100

121.11 134.72 152.35 203.81 230.48 97.6

110.37

88.43
100

Non Recurring Items 15.6

957.06 71.95

Other Non Cash

Adjustments

0.4

Other Adjustments

0.00

REPORTED PAT

123.1

136.70 208.1

0.00

1.43

4,414.1
-173.81 10,663.1 6.58
1
9

403.68

0.00

0.00

0.00

1.63
100

0
100

0.00

231.09 30.01

0.00

0.00

33.33

104.18 115.69

100

90.05

100

CASH FLOW ANALYSIS

Mar '11

Mar '10

Mar '09

Mar '08

Mar '07

12 mths

12 mths

12 mths

12 mths

12 mths

152.6

246.22

32.55

112.73

89.57

43.8

239.65

143.27

90.63

82.01

Net Cash (used in)/from

Investing Activities

-38.5

-99.75

-192.24

-150.03

-212.22

Net Cash (used in)/from

Financing Activities

0.2

-134.01

22.79

37.39

180.7

Net (decrease)/increase In Cash

and Cash Equivalents

5.9

5.16

-25.77

-22.15

50.58

38.1

29.69

54.65

76.8

26.21

44

34.85

28.83

54.65

76.8

Net Profit Before Tax

Net Cash From Operating

Activities

Opening Cash & Cash

Equivalents

Closing Cash & Cash

Equivalents

CONCLUSION
After a downturn, the recovery process varies from

business to business.
MindTree is poised to grow significantly in the current
year.
Company also issued 520,193 equity shares of Rs.10 each.
The paid-up equity share capital has increased from Rs.
395,149,940 to Rs.400,351,870.

THANK YOU