Nov 21, 2013, 04.13 PM IST
Rostow Ravanan, Co-Founder & CFO, Mindtree, says though the third quarter will probably be slightly lower than Q1 and Q2, given the seasonality factor, but it will still see good growth.
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Mindtree expects to beat FY14 Nasscom growth estimates
Rostow Ravanan, Co-Founder & CFO, Mindtree, says though the third quarter will probably be slightly lower than Q1 and Q2, given the seasonality factor, but it will still see good growth.
Like this story, share it with millions of investors on M3
Mindtree expects to beat FY14 Nasscom growth estimates
Rostow Ravanan, Co-Founder & CFO, Mindtree, says though the third quarter will probably be slightly lower than Q1 and Q2, given the seasonality factor, but it will still see good growth.
In the next few quarters i.e. the next two or three quarters we are continuing to make investments in the business.
Rostow Ravanan
CFO
MindTree
Also Read: Mindtree Q2 PAT down 4.9%, $ revenues up 5.4% sequentially
He expects operationally some margin efficiency improvement to kick in, excluding currency, in the coming quarters.
Below is the verbatim transcript of Rostow Ravanan's interview on CNBC-TV18
Q: Wanted to get a quick update with regards to your revenues. The street is quite optimistic with regard to your FY15 revenues, what is the pipeline like?
A: We are in a very strong position right now. We have very strong growth in Q1 and Q2 of this year. The growth in Q3, the December quarter will probably be slightly lower given the seasonality that affects us in Q3. However, we should have reasonably good growth in Q3 and next year also it continues to sort of look quite bright for us.
Q: A chunk of the INR depreciation perhaps is behind us. Most of the Indian IT companies have had the benefit of rupee depreciation which is played out in your margins. Now, with greater portion of INR depreciation behind the company can we sustain margins at these levels, EBITDA margins in the last quarter stood at 20.8 where do you see it?
A: In the next few quarters i.e. the next two or three quarters we are continuing to make investments in the business. We added significant number of field force, senior management talent, etc because we believe these investments will pay off given the strong volume momentum we see with our clients. So, maybe one or two quarters we will continue to make these investments. Beyond that operationally some margin efficiency improvement should also kick in excluding currency. Currency is something we will flow to it because that is not in my control but after the next one or two quarters we will start seeing some operational margin efficiency improvements as well.
Q: Constant currency margins in FY15 should improve and if yes by how much?
A: We have a few parameters on which we can drive efficiency improvements like pyramid, utilisation and SG&A leverage. We are working on a few levers; let us see how it pans out in the course of the next few quarters.
MindTree stock price
On November 21, 2013, MindTree closed at Rs 1409.65, down Rs 15.25, or 1.07 percent. The 52-week high of the share was Rs 1453.55 and the 52-week low was Rs 658.75.
The company's trailing 12-month (TTM) EPS was at Rs 106.21 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 13.27. The latest book value of the company is Rs 0.00 per share. At current value, the price-to-book value of the company is 0.00.
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