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IDBI Capital Report
We interacted with Mindtree Ltd. Key highlights were that there are many cost take outs opportunities in the digital and legacy space. In addition, the company is expected to witness healthy growth across verticals except for retail segment in the near term.
Further, Mindtree continues to aspires for achieving 20% plus Ebitda margins prompting us to build revenue and Ebit compound annual growth rate of 18% and 17% over FY22-FY24E.
A key thing was that merger of Larsen and Toubro Infotech Ltd. plus Mindtree will create a scale company which has complimentary capabilities across verticals with no duplication of work. In addition, the company will have cost synergies in the long run.
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