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Mindteck Reports Results for the Financial Year 2018-19

twitter-logo PTI        Last Updated: May 29, 2019  | 10:20 IST

(Eds: Disclaimer: The following press release comes to you under an arrangement with Business Wire India. PTI takes no editorial responsibility for the same.) Bengaluru, Karnataka, India: Business Wire India Mindteck (India) Limited (BSE: 51744 and NSE: MINDTECK), a global technology company, reported its audited financial results for the year ended March 31, 2019. The company’s standalone revenue for the year 2018-19 was Rs. 107.63 crores, as against Rs. 88.42 crores for the year 2017-18. The consolidated revenue for the year 2018-19 stood at Rs. 299.41 crores, as against Rs. 296.84 crores for the previous year ended March 31, 2018. The company’s standalone net profit stood at Rs. 7.19 crores, and the consolidated net profit was Rs. 2.74 crores for 2018-19. The Board of Directors recommended a 10% dividend for the financial year 2018-19. Commenting on the results, Mr. Sanjeev Kathpalia, CEO and Managing Director, said, “During the year, I am pleased to report that Mindteck added 25 new logos to its existing client roster spanning projects across domains and geographies, including implementations in IoT, big data, cloud, and analytics.” He further added, “I am also pleased that Mindteck was recognised as a niche and emerging player by Zinnov, a global consulting and advisory firm, in its 2018 ER&D ratings. This reinforces Mindteck’s capability as an able service provider for large enterprises across verticals such as storage, medical devices, and enterprise software.” Mr. Yusuf Lanewala, Non-Executive Chairman, commented, “As part of our CSR activities, the company funded the Pink Parking Project, a dedicated women-only parking space around the main Bhopal market area, where Mindteck is currently implementing India’s first smart parking project.” Other notable highlights for 2018-19 include: • Developing the front-end analytical dashboards for a Fortune 500 storage client. • Started a three-year testing engagement with a global leader in cloud storage. • Developing and testing embedded system drivers for a leading life sciences client that specializes in life sciences analytics. • Developing control gear for a technology company that designs and manufactures connectivity and sensor products for harsh environments. • Generated new business from one of the group companies of a globally diversified conglomerate to provide instrument control software development for capillary electrophoresis instruments. • Won a product development project from one of the world’s pre-eminent pharmaceutical companies. About Mindteck Mindteck is a global engineering and technology solutions company devoted to delivering knowledge that matters to help clients compete, innovate and propel forward along the digital continuum. Its legacy expertise in embedded systems, enterprise applications and testing complements newer Analytics, Cloud, IoT, and RPA disciplines and accompanying solutions, and ensures that our clients’ R&D and technology investments are maximized. Since its establishment in 1991, the company’s clientele has included top-tier Fortune 1000 companies, start-ups, leading universities, and government entities. Mindteck is among a select group of global companies appraised at Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). Office Locations: India, Singapore, Malaysia, Philippines, Netherlands, Germany, Bahrain, Turkey, UK, US, and Canada. Development Centers: Singapore and India (Kolkata and Bengaluru). Mindteck is listed on both the Bombay Stock Exchange and the National Stock Exchange. Founding Member: ‘The Atlas of Economic Complexity’ (www.atlas.cid.harvard.edu) for the Center for International Development (CID) at Harvard University. www.mindteck.com For more information, contact Prashanth Idgunji at prashanth.idgunji@mindteck.com. PWR PWR

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