Mindpool Technologies Limited (MINDPOOL)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Mindpool Technologies' revenue was ₹27.4 Cr (+49.0% year on year, +10.2% on the previous half-year), and net profit ₹0.1 Cr (+366.7% year on year); the operating margin was 1.6%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹27.4 | +49.0% | +10.2% |
| Operating profit | ₹0.4 | — | +83.3% |
| Net profit | ₹0.1 | +366.7% | -33.3% |
| EPS (₹) | 0.33 | +371.4% | -34.0% |
| Operating margin | 1.6% | — | — |
📢 Recent Corporate Announcements
Mindpool Technologies shareholders have approved the re-designation of Mrs. Poonam Sharma from Non-Executive Director to Executive Director, effective retrospective from April 13, 2026. Her gross annual remuneration is fixed at ₹52,00,000 (₹4,33,334 per month), which exceeds the statutory limits specified under Section 197 of the Companies Act, 2013. For a micro-cap firm with TTM net profit near break-even (TTM PAT around ₹0 Cr; Mar 2026 net profit at ₹0.14 Cr), this compensation represents a significant fixed administrative cost.
- Re-designation of Mrs. Poonam Sharma to Executive Director effective April 13, 2026, confirmed at AGM on September 24, 2026
- Annual gross remuneration set at ₹52,00,000 with a monthly gross payout of ₹4,33,334
- Remuneration explicitly exceeds limits under Section 197 of the Companies Act, 2013, requiring shareholder approval
- Basic salary & DA fixed at ₹26,00,000 per annum with ₹0 variable or performance-based pay
Mindpool Technologies Limited has issued the notice and Annual Report for its 16th Annual General Meeting (AGM) scheduled for September 24, 2026. The cut-off date to determine shareholder voting eligibility is September 17, 2026, with remote e-voting open from September 21 to September 23, 2026. Key agenda items include the adoption of FY26 financial statements, the reappointment of Director Ritesh Sharma retiring by rotation, and approving the designation change of Mrs. Poonam Sharma to Executive Director along with remuneration.
- 16th Annual General Meeting scheduled for Thursday, September 24, 2026, at 03:00 PM IST in Pune
- Record/Cut-off date for e-voting eligibility set for Thursday, September 17, 2026
- Remote e-voting window runs from September 21, 2026 (09:00 AM) to September 23, 2026 (05:00 PM)
- Proposed special resolution to change Mrs. Poonam Sharma's designation from Non-Executive to Executive Director with remuneration
Mindpool Technologies announced that its Board of Directors approved the appointment of Mr. Rohit Kalamkar as the Internal Auditor for FY 2026-27 in a meeting held on August 22, 2026. Mr. Kalamkar brings 16 years of experience across operations, profit center management, and internal auditing. This is a routine statutory and compliance appointment with no immediate financial impact on the company's ₹87 Cr TTM revenue base.
- Appointment of Mr. Rohit Kalamkar as Internal Auditor for the financial year 2026-27
- Appointee possesses over 16 years of experience in HR, sales, and operations management
- Board meeting commenced at 12:00 PM and concluded at 12:35 PM on August 22, 2026
Mindpool Technologies Limited has announced the resignation of Mr. Uday Surpuriya as the company's Internal Auditor, effective immediately from the close of business hours on August 12, 2026. The resignation pertains to the Financial Year 2026-27. The auditor cited preoccupation with other professional commitments as the reason for his departure. The company, which has a small market capitalization of ₹30 Cr and thin operating margins of 1.0%, will now initiate the process to appoint a successor.
- Resignation of Internal Auditor Mr. Uday Surpuriya effective August 12, 2026
- Departure occurs during the current Financial Year 2026-27
- Company reports TTM revenue of ₹87 Cr with a marginal 1.0% operating profit margin
- Market capitalization remains small at approximately ₹30 Cr
Financial Performance
Revenue Growth by Segment
Staffing Services revenue was INR 1,298.82 Lakhs (48.89% of total), Digital Marketing Services was INR 44.39 Lakhs (1.67%), and Digital Marketing Services was INR 44.39 Lakhs. Standalone revenue fell 24% YoY to INR 2,656.42 Lakhs in FY 2024-25 compared to INR 3,497.93 Lakhs in FY 2023-24.
Geographic Revenue Split
USA subsidiary (Mindpool Technologies Inc) generated USD 0.927 Million (INR 784.35 Lakhs), representing a reduction of 18% YoY from USD 1.135 Million. Domestic operations are centered in Pune, Bangalore, Hyderabad, and Noida.
Profitability Margins
Net Profit Margin fell 63.38% to 0.26% in FY 2024-25 from 0.71% in FY 2023-24. Operating Profit Margin fell 40.78% to 0.30% from 0.51% YoY. Return on Net Worth (ROI) dropped 72.49% to 0.01% from 0.02%.
EBITDA Margin
Not explicitly disclosed as a percentage for the current period, but the company reported a 50.84% fall in overall profit to INR 9.60 Lakhs (estimated from 50.84% fall of INR 19.53 Lakhs) due to pressure on US subsidiary profitability.
Capital Expenditure
Standalone Capital Employed as of September 30, 2025, was INR 423.75 Lakhs across all segments.
Credit Rating & Borrowing
Debt-equity ratio deviation of 63.38% reported due to decrease in turnover and operating profit; specific interest rate percentages not disclosed.
Operational Drivers
Raw Materials
Human Capital/Talent (700+ employees) is the primary operational resource, as the company is a service provider.
Import Sources
Not applicable for IT services; talent is sourced domestically in India and via the US subsidiary.
Key Suppliers
Not applicable; however, the company noted it has not received status information for suppliers under the MSMED Act 2006.
Capacity Expansion
Current capacity is 700+ employees working primarily from home; expansion is focused on Global Capability Center (GCC) setup and management services.
Raw Material Costs
Not applicable; employee benefit expenses and support service costs are the primary drivers, though specific YoY % for these costs was not provided.
Manufacturing Efficiency
Not applicable; service delivery efficiency is managed through evolving business structures to respond to market needs.
Strategic Growth
Growth Strategy
The company plans to achieve growth by positioning itself as a leader in Global Capability Center (GCC) setup and management in India, supported by favorable investment policies. It also aims to enhance EBITDA and PAT margins through proper execution and planning in domestic and global regions.
Products & Services
IT Staffing Services, Digital Marketing Services, Routing Services, and Offshore Development Center (ODC) services.
Brand Portfolio
MINDPOOL
New Products/Services
Global Capability Center (GCC) setup and management services are the primary new strategic focus area.
Market Expansion
Targeting growth in domestic and global regions with existing and new digital clients.
External Factors
Industry Trends
The industry is shifting toward establishing GCCs in India, supported by digital infrastructure and favorable policies. Mindpool is evolving its structure to respond to these globalization trends.
Competitive Landscape
Operates in the highly competitive IT staffing and consulting sector against both domestic and global players.
Competitive Moat
Competitive advantage is derived from a 700+ best-in-class talent pool and a long-standing relationship with Fortune 500 clients, though sustainability is currently challenged by margin compression.
Macro Economic Sensitivity
Highly sensitive to US economic indicators, which caused an 18% revenue drop in the US subsidiary and a 50.84% fall in overall profit.
Consumer Behavior
Shift toward remote work (700+ employees working from home) and increased demand for digital marketing and ODC services.
Geopolitical Risks
Weak economic indicators in the US market represent a significant geographic and geopolitical risk to the subsidiary's performance.
Regulatory & Governance
Industry Regulations
Compliance with SEBI (LODR) Regulations 2015 and Accounting Standard 25 for interim financial reporting. The company also follows Section 133 of the Companies Act 2013.
Taxation Policy Impact
Provision for Income Tax was not made in the interim results for the period ended September 30, 2025.
Legal Contingencies
The Group has disclosed the impact of pending litigations on its financial position, though specific case values in INR were not provided in the snippets.
Risk Analysis
Key Uncertainties
The primary uncertainty is the continued weakness in the US market, which has already caused a 50.84% fall in profits.
Geographic Concentration Risk
Significant revenue concentration in the USA (USD 0.927 Million) and India (Pune, Bangalore, Hyderabad, Noida).
Third Party Dependencies
Dependency on a large number of vendors for which 26AS statements are yet to be fully reconciled.
Technology Obsolescence Risk
Risk is mitigated by evolving business structures to respond to market needs and digital infrastructure shifts.
