MINDTECK (INDIA) LTD
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BSE Code:
517344
NSE Code:
Business Profile
Business Profile
Mindteck India provides software services globally, with its particular strengths being in embedded software, ERP and e-commerce. In addition to development centres at Bangalore, Calcutta and Mumbai, the company has operational centers in USA, UK, Bahrain, Singapore and Malaysia.
The company has subsidiaries in USA, UK and Singapore. Its US subsidiary had also recently acquired ISS Consultants of USA.
The company`s registered office is at Bangalore and M G Ved is the chairman of the company controlled by Mauritius-based Embtech Holdings Ltd.
Financials
Mindteck (India) registered a steep drop of 40.71% in net profits of Rs 2.01 million for the quarter ended in December 2007 from a profit of Rs 3.39 million for the quarter ended in December 2006Net Sales rose 20.35% to Rs 80.07 million for the quarter ended December 2007 from Rs 66.53 million for the quarter ended December 2006.Total income rose 35.33% to Rs 90.47 million for the quarter ended December 2007, from Rs 66.85 million for the quarter ended December 2006.The earnings per share (EPS) of the company stood at Rs 0.20 in the quarter ended December 2007 .
Recent Developments
07-FEB-08
Mindteck India acquired US-based Infotech Consulting for USD 21 million. Mindteck is paying cash of USD 1.5 million while the rest is in stock. Mindteck has issued stock for this acquisition at Rs 98.50 a share, a premium of Rs 88.50 a share on a stock swap basis on a base price of Rs 58 a share. Infotech Consulting topline is USD 31 million and brings in 250 people to Mindteck along with presence in Business Application Consulting, infrastructure and managed services.
09-JAN-07
The company reported that it has been recommended for ISO 27001:2005 certification--the most comprehensive and widely acknowledged certification for information security.