We started the year with a clear goal to make FY 2012-13 a transformative year for Mindtree. I am happy to share with you that we have made significant progress towards it. FY 2012-13 laid the foundation for some very important initiatives that will take Mindtree to its next level. We are now well positioned for FY 2013-14 and beyond.
173% 5 year returns on your stock
55% Y on Y profit growth in INR
23% Y on Y revenue growth in INR
11,591 Mindtree Minds
232 Active customers
Mindtree performed creditably in FY 2012-13. Your stock had a 1 year return of 87% in comparison with CNX IT return of 12% and Sensex return of 8%. The 5 year returns on your stock is 173%.
This performance, yet again, demonstrates the strength of our focus and strategy.
The global economic recovery has been slow and FY 2012-13 posed some serious concerns to organizations in their technology investment plans. Despite that, we adopted a back-to-basics strategy and stayed significant to our customers. This helped us deliver outstanding results and enabled our customers to win in their businesses.
We revealed new Mindtree brand. We engaged with Siegel + Gale, to transform our brand from a positioning of best mid-size company to an expertise led and culture backed organization. Our new mission, values, voice and visual identity are a reflection of the new Mindtree; we aspire to be Bright, Confident and Active.
We have proactively taken steps in preparing a strong pipeline of next generation leaders. Successful organizations have a strong ‘next level’ leadership and a development approach that keeps it going. Our association with Korn Ferry helped us make very good progress on both fronts. We are continuously assessing and training the leadership that will help customers to trust Mindtree as an expert in chosen areas.
We setup delivery centers in US and Belgium in line with our global strategy and our determination to get closer to the customer. These global delivery centers help us be more customer centric, interact real-time with them and leverage the local talent. Global delivery centers enable our customers the flexibility of consuming services through delivery models such as onsite, offshore, near shore and onshore. The global delivery centers will focus on building expertise in specific areas. E.g. Our US center will focus on building expertise in Agile, Digital Business and Analytics.
We need to be focused on working at chosen priorities. This year, we have chosen the following priorities:
Thank you very much for your support, feedback, inputs and suggestions. All of us at Mindtree are very excited about the path we have taken to be expertise-led and are extremely confident to achieve outstanding results consistently through focus and efficient execution. Our passionate and committed team of over 11,591 Mindtree Minds joins me in thanking you and we look forward to your continued support.
Welcome to possible
CEO & Managing Director