Mindteck Reports Results for Nine-Month Period Ended December 2015


Bengaluru, India – February 12, 2016: Mindteck (India) Limited (BSE: MINDTECK), a global technologycompany, today reported its unaudited financial results for the nine-month period ended December 31, 2015.

The company’s consolidated revenue for the period ended December 31, 2015 stood at Rs. 232.27 crore as against Rs. 241.72 crore for the same period last year. Net profit stood at Rs. 23.80 crore against Rs. 15.91 crore for the corresponding period last year.

For the quarter ended December 31, 2015, the company’s consolidated revenue stood at Rs. 73.56 crore as against Rs. 77.43 crore for the corresponding quarter last year. Net profit for the quarter stood at Rs. 10.35 crore as against Rs. 5.27 crore for the corresponding quarter last year.

Commenting on the financial performance, Mr. Yusuf Lanewala, Chairman & Managing Director said, “This quarter, we won a multi-million dollar data center transformation project for a Fortune 50 client in the US. Another key highlight: Our smart city Initiatives gained traction and widespread interest, particularly in our recently unveiled Smart Parking Solution both from India and other countries. Now that the government of India has identified the first 20 smart cities to be developed, we foresee ample opportunities and look forward to partnering with public and private bodies in implementing smarter and more effective solutions.”

Other notable projects included:

  • Design and development of electronics and firmware for the Infinity computer--a modular, safe and eco-friendly device, for One Education--a not-for-profit organization based in Australia
  • Secured a wearable devices project for a semiconductor client. This involved developing a wrist-wearable Wi-Fi Wireless Notification Device (WND) with the necessary hardware, firmware and bridge software to help our customer improve their employees’ operator conformity index, equipment utilization and productivity
  • Development of a body clock device to help people with Seasonal Affective Disorder (SAD)
  • Driver Qualification for a major semiconductor and storage company
  • Securing a new customer in the area of Chromatography Instruments/Consumables
  • Launched a Learner Native App for IPAD devices for an award-winning, qualification-focused Learning Management System (LMS)

About Mindteck (India) Limited

Mindteck, a global technology company, provides Product Engineering solutions and Information Technology services to top-tier Fortune 50-1000 companies, start-ups, leading universities and government entities worldwide. Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. Mindteck has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India, and four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). The company is listed on the Bombay Stock Exchange (BSE 517344) and 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). It is also a Founding

Member of ‘The Atlas online’ – an interactive tool that provides visualizations of growth opportunities for over one hundred countries worldwide – for the Center for International Development (CID) at Harvard University.

For more information, please contact balika.hegde@mindteck.com