Travel Sector can grow well as international boundaries are being opened: Vinit Teredesai, CFO, Mindtree
Vinit Teredesai, CFO, Mindtree, talks about the Q4FY22 results and verticals where traction can be seen over the next few quarters during a candid chat with Swati Khandelwal, Zee Business
Vinit Teredesai, CFO, Mindtree, talks about the Q4FY22 results and verticals where traction can be seen over the next few quarters during a candid chat with Swati Khandelwal, Zee Business. Edited Excerpts:
Q: 1) Numbers have largely been in-line with street estimates. What were the factors helping you sustain the dollar revenue?
A: The demand for digital technology and digitalisation is largely the same and there is a momentum in our banking financial services and travel - which is reopening verticals. Momentum is also there in technology. So, there is a good demand in areas like data and cloud and this led to around 5% quarter-on-quarter growth in the constant currency which helped us in delivering. In the case of margin, there is a marginal dip compared to Q3FY22 but on a year-on-year basis, our margins have improved by almost 48%. The margin was impacted a bit because we made certain promotions and targeted salary corrections at the start of the quarter. But it was within our comfort range of 20%+ EBITDA guidelines for the year. So, due to the steps taken for business growth ensuring no issues occur in delivery and controlling the attrition led to this slight dip but we have delivered a 20.9% EBITDA and 15.7% PAT margin on the yearly basis. Our PAT Margins stood at 13.8% last year, which means a good growth this year.
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Q: Help us understand your deal pipeline for the next few quarters and from which verticals can we expect the maximum traction?
A: I think, all the verticals can show a good demand. There is just a vertical of retail consumer packaging, which de-grew a bit in this quarter but it is in a consolidation phase and would be a flattening short of situation for another quarter or two. But the kind of new logos and programmes on which we are working in the sector would show growth. With the opening of the international boundaries, the travel sector is likely to grow well. In Banking and Financial Services (BFSI) segment, we have opened accounts in the European International Bank, so, this would be ramped up from there.
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