Mindteck Reports Results for Nine-Month Period ended December 2015

Bengaluru, India – February 12, 2016: Mindteck (India) Limited (BSE: MINDTECK), a global technology company, today reported its unaudited financial results for the nine-month period ended December 31, 2015.

The company’s consolidated revenue for the period ended December 31, 2015 stood at Rs. 232.27 crore as against Rs. 241.72 crore for the same period last year. Net profit stood at Rs. 23.80 crore against Rs. 15.91 crore for the corresponding period last year.

For the quarter ended December 31, 2015, the company’s consolidated revenue stood at Rs. 73.56 crore as against Rs. 77.43 crore for the corresponding quarter last year. Net profit for the quarter stood at Rs. 10.35 crore as against Rs. 5.27 crore for the corresponding quarter last year.

Commenting on the financial performance, Mr. Yusuf Lanewala, Chairman & Managing Director said, “This quarter, we won a multi-million dollar data center transformation project for a Fortune 50 client in the US. Another key highlight: Our smart city Initiatives gained traction and widespread interest, particularly in our recently unveiled Smart Parking Solution both from India and other countries. Now that the government of India has identified the first 20 smart cities to be developed, we foresee ample opportunities and look forward to partnering with public and private bodies in implementing smarter and more effective solutions.”

Other notable projects included:

• Design and development of electronics and firmware for the Infinity computer--a modular, safe and eco-friendly device, for One Education--a not-for-profit organization based in Australia
• Secured a wearable devices project for a semiconductor client. This involved developing a wrist-wearable Wi-Fi Wireless Notification Device (WND) with the necessary hardware, firmware and bridge software to help our customer improve their employees’ operator conformity index, equipment utilization and productivity
• Development of a body clock device to help people with Seasonal Affective Disorder (SAD)
• Driver Qualification for a major semiconductor and storage company
• Securing a new customer in the area of Chromatography Instruments/Consumables
• Launched a Learner Native App for IPAD devices for an award-winning, qualification-focused Learning Management System (LMS)

About Mindteck (India) Limited

Mindteck, a global technology company, provides Product Engineering solutions and Information Technology services to top-tier Fortune 50-1000 companies, start-ups, leading universities and government entities worldwide. Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. Mindteck has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India, and four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). The company is listed on the Bombay Stock Exchange (BSE 517344) and is among a select group of global companies appraised at Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). It is also a Founding

Member of  ‘The Atlas online’ – an interactive tool that provides visualizations of growth opportunities for over one hundred countries worldwide – for the Center for International Development (CID) at Harvard University.

For more information, please contact  balika.hegde@mindteck.com.

www.mindteck.com

Mindteck’s Delivery VP Appointed to Industry Board

Bengaluru, India – October 19, 2015: Mindteck (India) Limited (BSE: MINDTECK), a global technology company, has announced that its Delivery Vice President, Mr. Satheesh Kumar Sreedharan, has been appointed to the Board of Directors, and was also recently elected as Secretary, of the India Chapter of the worldwide Storage Networking Industry Association (SNIA).

The SNIA Board is charged with oversight of the association’s mission and vision, and ensuring tangible value to member companies. As a Board member, Mr. Sreedharan will address issues pertaining to strategic and operational planning as well as technical output. In speaking about his appointment, he said, "I am excited about this, and look forward to contributing to the singular association which has been such a key player in carving out new directions for the storage industry.” Mr. Yusuf Lanewala, Mindteck Chairman and Managing Director, added “We are very proud of Satheesh and trust that his vast storage expertise will be of tremendous value to SNIA and in fulfilling the global interests of this industry at large.”

As Mindteck’s Delivery Vice President, Mr. Sreedharan is responsible for all client delivery teams in the areas of Storage, Embedded Systems, Smart Energy Solutions and IT Services. This includes managing Mindteck’s Storage Center of Excellence, which has the capacity and capability to offer a diverse range of  storage  engineering services.  Prior to Mindteck, Mr. Sreedharan  held positions at  a variety of companies, including GE Healthcare, Mphasis, HP Systems Technologies Software Division and Trianz Consulting,  Inc.  His  career  started  as  a  scientist  in  the  Defence  Research  and  Development Organization in the areas of avionics and naval warfare systems.

Mr. Sreedharan graduated with a degree in Electronics and Communication Engineering from the National Institute of Technology, Trichy. He earned his post-graduate degree in Computer Science and Engineering from the Indian Institute of Technology, Madras, Chennai. He also completed a one-year Advanced Management Programme at IIM, Bangalore.

  

About SNIA

SNIA is a not–for–profit global organization comprised of member companies spanning the global storage market. SNIA’s mission is to lead the storage industry worldwide in developing and promoting standards, technologies, and educational services to empower organizations in the management of information. SNIA India is a chapter of the worldwide Storage Networking Industry Association that is headquartered in the United States. Other SNIA chapters exist throughout Western Europe, China, Japan, Australia and New Zealand, Canada, Brazil and South Asia.

 About Mindteck (India) Limited

Mindteck, a global technology company, provides Product Engineering solutions and Information Technology services to top-tier Fortune 100 companies, start-ups, leading universities and government entities worldwide. Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. Mindteck has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India, and four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). The company is listed on the Bombay Stock Exchange (BSE 517344) and is among a select group of global companies appraised at Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). It is also a Founding Member of ‘The Atlas online’ – an interactive tool that provides visualizations of growth opportunities for over one hundred countries worldwide – for the Center for International Development (CID) at Harvard University.

For more information, please contact balika.hegde@mindteck.com.

www.mindteck.com

Mindteck to Execute Statewide Implementation of E-Nagarpalika with Two Other Technology Companies

Bengaluru, India – December 04, 2015: Mindteck (India) Limited (BSE: MINDTECK), a global technology company, announced that it has won a prestigious state government contract, along with two other technology companies. The consortium will integrate various Nagar Parishads under one platform to enable the implementation of eNagarpalika.

In tandem with the other two consortium partners, Mindteck will implement the complete portal and will work with the Government to deploy technical resources. The project, which is in line with the Government of India’s digital and smart city initiatives, will enable the delivery of government services integrated with various Zila Parishads under one platform. It will benefit citizens by enabling easy access to services, such as birth and death certificates, building approval permissions, property tax and other government-related documents and services.

“It’s a tremendous privilege to be associated with this initiative. We will collaborate and leverage the capability of all the partners involved to make this highly citizen-friendly and one of the best eNagarpalika implementations to date,” commented Yusuf Lanewala, Mindteck Chairman and Managing Director.

Other notable smart city work from Mindteck includes:

^§   Collaboration with University of California (Berkeley), Nanyang Technological University (NTU), and the National University of Singapore (NUS), in Singapore, to build a world-class research model for building efficiency through an

engagement with SinBerBEST, (Singapore-Berkeley Building Efficiency and Sustainability in the Tropics).  Click here to read more.

^§  An Intelligent Lighting Solution for a UK-based utility company that has announced record reductions in energy consumption and CO2 emissions. Mindteck developed the complete hardware and software for the system. Prior to installation of energy efficient lanterns, the street lighting was consuming around 50m kWh of energy a year. This will be successfully reduced to 34m kWh this year.

About Mindteck (India) Limited

Mindteck, a global technology company, provides Product Engineering solutions and Information Technology services to top-tier Fortune 100 companies, start-ups, leading universities and government entities worldwide. Its depth of knowledge and niche expertise in embedded systems and enterprise applications is complemented by dedicated Centers of Excellence in wireless design and storage testing. Mindteck has offices in the US, UK, Singapore, Malaysia, Netherlands, Germany, Bahrain and India, and four development centers: one each in the US and Singapore, and two in India (Kolkata and Bangalore). The company is listed on the Bombay Stock Exchange (BSE 517344) and is among a select group of global companies appraised at

Maturity Level 5, Version 1.3 of the CMMI Institute’s Capability Maturity Model Integration (CMMI). It is also a Founding Member of  ‘The Atlas online’ – an interactive tool that provides visualizations of growth opportunities for over one hundred countries worldwide – for the Center for International Development (CID) at Harvard University.

For more information, please contact  balika.hegde@mindteck.com.

www.mindteck.com