Mindtree Q2 Results May Be Its Last Company Reports

Mindtree CEO Debashis Chatterjee revealed in an interview that their plan for LTI-Mindtree merger is ready. They may complete integration within 1-2 quarters.

Midcap IT firm Mindtree exceeded expectations when its second quarter net increased 7.9 % from the prior quarter and 27.5 % from a year earlier. 

The last time Mindtree declares earnings as a separate corporation might be this quarter. By the end of 2022, the L&T Infotech merger, which was formally confirmed in May 2022, is expected to be complete.

Considering the impending merger, Mindtree’s recruiting was slightly lower. Attrition is still high at 24.1% but has begun to decline.

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Debashis Chatterjee, the CEO of Mindtree, discussed demand, the timeframe of the merger, aspirations for the combined company, and moonlighting in an interview with Moneycontrol.

For MindTree, this upcoming quarter will be essential. Due to the merger with LTI, this is possibly the last quarter in which Mindtree reports separate results. 

This occurs when the macros in the US, Europe, and the UK are growing more difficult.

When MindTree receives the necessary legal approvals, the management structure will be implemented as planned.

The lack of significant overlap is what appeals to me most about this combination. There is overlap, but it is of a complementing kind. 

For instance, LTI and Mindtree are both quite powerful in the areas of supply chain transformation and customer experience transformation, respectively. If we focus on their talents, they can actually compliment one another and be helpful.

The fact that only a small percentage of MindTree’s 700+ clients—roughly 10—are frequent clientele is another intriguing development. Even among those shared clients, both businesses specialize in various fields.

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The sector is all about how businesses organize their talent supply chain, which is where MindTree is attempting to find synergies. 

The CEO of MindTree believes that this is where they can do optimization and where they can build synergies. 

MindTree wants to make sure that they can have the talent on both sides and try to derive the synergies across both talent pools.