Asserting that 'independence' of Mindtree is important, Natarajan, one of the company's promoters who had opposed L&T offer, said there is nothing about individuals.
In an interview with CNBC-TV18, Mindtree‘s management said that the macro environment has been challenging and Brexit impacted its Europe business a lot.
The company, for FY17, would focus more on organic growth and integrating earlier aquisitions, said Rostow Ravanan, CEO & MD, Mindtree.
EY Entrepreneur of the Year 2015 recognised and rewarded India's most exceptional entrepreneur s and business leaders who have brought about a change through their exemplary work, sheer grit and determination. Celebrating the success stories of these winners is the Passion to Win series showcasing India's best innovators and game changers.
"I would anticipate the Budget to provide credit as well as incentives to do R&D so we can sustain our leadership position," says Mindtree CEO Krishnakumar Natarajan
Newly appointed CEO, Rostow Ravanan expects margin profile to be around 18-20 percent at an earnings before interest, taxes, depreciation and amortization (EBITDA) level going forward. Commenting on the newly acquired entities he said that it will take around five quarters to improve profitability as they have low margins at present.
Effective April 1, the move will see current chief Krishnakumar Natarajan moving on to the role of Executive Chairman with co-founder Subroto Bagchi stepping down from the position. Bagchi will continue on the Board as a non-executive director.
The stock jumped 5.11 per cent to Rs 1,475 on the BSE. On the NSE, it was up by 4.87 per cent to Rs 1,472.
Revenue increased by 6.9 percent quarter-on-quarter to Rs 981.6 crore and dollar revenue grew by 4.8 percent to USD 154.9 million in the quarter ended June, better than forecast. Revenue and dollar revenue were expected to grow 6.7 percent and 4.3 percent, respectively, according to a CNBC-TV18 poll.
Speaking to CNBC-TV18, Krishnakumar Natarajan, MD and CEO, Mindtree says that this decision comes as a ‘bold and ambitious‘ move by Prime Minister.
Krishnakumar Natarajan, CEO of Mindtree, discusses company's performance for the fourth quarter and future outlook.
Mid-tier IT company Mindtree said that the 1.5 percent volume degrowth it saw in the third quarter was primarily because of seasonality, such as lower working days and employee leaves.
The midcap company added eight clients in Q2 and has signed deals worth USD 165 million during the same period.
Mindtree will provide level 2 and 3 application support for SFS for 3 years, including database administration and monitoring, consulting services and maintenance to improve operational efficiency, application enhancements, customisation and new report generation.
Krishnakumar Natarajan feels technology is playing a very different role in making industries more competitive.
"Ramesh and Mark will play a crucial role in the implementation of company's strategy to expand globally by delivering expertise-driven solutions with a deep understanding of both technology and industry-specific business models," Krishnakumar Natarajan, CEO and MD said.
According to Krishnakumar Natarajan, the quarter gone by (July-Sep) has been satisfying as the company reported a strong revenue growth for second successive quarter.
The industry body's new chairman Krishnakumar Natarajan tells NS Ramnath how it plans to reinvent itself in order to stay relevant
The IT industry will focus on internet and mobile technology, big data and cloud computing technologies for speedy growth in order to achieve USD 300 billion revenue by 2020, Nasscom today said.
MindTree CEO and Managing Director Krishnakumar Natarajan said the margin expansion of up to 450 bps was 'satisfying' as the quarter is considered seasonally weak.
Mid-tier services firm MindTree Ltd on Wednesday reported an April-June net profit that outpaced analysts' expectations, helped by a 40% jump in revenue from IT services.