Yto�;) Vedavalli S Company Secretary
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Registered OfficeAddre ss: Mindtree Ltd. Global Village, RVCE Post, Mysore Road, f.J Mindtree Bangalore-560059, l<arnataka, India. Welcome to possible Corporate Identity Number (CIN): L722001<A1999PLC025564 E-mail: [email protected] Ref: MT/STAT/CS/18-19/48 June 18, 2018 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Bandra East, Mumbai 400 001. Mumbai 400 051. Dear Sirs, Sub: Submission of Annual Report2017-18 along with Notice of Nineteenth Annual General Meeting We herewith attach the Notice of Nineteenth Annual General Meeting of the Company along with the Annual Report for the FY 2017-18. The same will also be uploaded on the website of the Company at: https://www.mindtree.com/about/investors/annual-reports We would like to bring to your kind notice that we will be uploading the Annual Report for the FY 2017-18, after the same is adopted by the shareholders at the Nineteenth Annual General Meeting of the Company to be held on July 17, 2018 in accordance with Regulation 34 of SEBI (LODR) Regulations, 2015. Kindly take the same on record and oblige. Sincerely, For Mindtree Limited Yto�;) Vedavalli S Company Secretary Mindtree Ltd. Global Village T + 9180 6706 4000 RVCE Post, Mysore Road F + 9180 6706 4100 Bangalore - 560059 W www.mindtree.com A TREE ALWAYS GIVES BACK Annual Report 2017-18 A tree always gives back Index A tree always gives back ......................................................................................................................................... 3 Executive Messages .................................................................................................................................................... 24 Highlights 2017-18 .................................................................................................................................................... 30 Board Committees ....................................................................................................................................................... 34 Integrated Report ......................................................................................................................................................... 36 Business Responsibility Report ............................................................................................................................ 96 Directors’ Report .......................................................................................................................................................... 102 Corporate Governance Report .............................................................................................................................. 150 Management Discussion and Analysis ............................................................................................................. 170 Risk Management Report ........................................................................................................................................ 181 Standalone Financial Statements ........................................................................................................................ 183 Consolidated Financial Statements ................................................................................................................... 229 IFRS Financial Statements ....................................................................................................................................... 271 Global Presence ............................................................................................................................................................ 309 Notice of the Nineteenth Annual General Meeting .................................................................................... 312 A tree always gives back A tree always gives back A tree always gives back When it comes to giving back, we do not need to At the same time, our primary effort, via Mindtree.org, look far for inspiration. Providing shade and comfort is to address diverse social challenges of the large, to all without discrimination, being a home for birds informal sector in India through our digital platform. and more, giving out life-sustaining oxygen – there Through the platform, we offer a host of products, is a lot we can learn from the humble tree. Giving solutions and services that directly impact the back is one of them, and something that we, at informal economy and create greater value for Mindtree, strive to do. all stakeholders. At Mindtree, we expand the potential of technology to benefit not just businesses, but societies as well. Our philosophy is rooted in ‘giving back’ to the society by leveraging “technology expertise”, our strategic asset. We have taken a pledge to help the underprivileged of the society. Through the Mindtree Foundation, we address the challenges of educating deprived children, providing basic needs to the poor, offering disaster relief during calamities, and delivering medical assistance to the needy. We also partner with several non-profit organizations to tackle social issues and help the underprivileged. A tree always gives back 3 Mindtree.org: Breaking shackles of poverty and inefficiency India’s informal sector is driven by millions of We provide a host of technology products independent entrepreneurs - farmers, waste-pickers, and solutions that are aimed at enhancing the vegetable vendors, and more. National Sample livelihoods of independent entrepreneurs in the Survey Organization has estimated that 84.7% of informal sector. Our ready-to-use solutions are jobs in the Indian economy are in the informal or currently impacting different players of the informal unorganized sector. This makes the informal sector economy including agriculturalists, teachers and the largest pool of workers in the country and means principals of rural schools, artists and small traders that 84.7% workers in India lack good education, and entrepreneurs. professional skills, social security perks, or insurance. Mindtree.org — an integral part of our CSR initiative — works with various independent entrepreneurs I Got of the informal sector to enhance skills and livelihoods. Through a host of domain solutions, Garbage we address challenges arising due to a shortage of I Got best practices, skills and education. We redress low wages, middlemen interference and silos. And our Crops goal is to provide a digital platform that ‘gives back’ through social inclusion, structured operations and livelihood enhancements. University of Mindtree.org Commons I Got Knowledge I Got Skills 4 A tree always gives back I Got Skills India is positioned to be the largest labour marketplace in the coming years. This worker marketplace can transform and drive tangible impact, if it is skilled sufficiently, to accelerate Providing skills, self-esteem, India’s growth. In contrast, India’s current workforce is predominated by unskilled and semi-skilled and confidence workers. In fact, only 2.3 percent of India’s I Got Skills (IGS) is our flagship program in workforce has received some formal skills training.1 partnership with the Government of Karnataka to upskill the state’s workforce. Our objective At the same time, the need for humans, who is to career counsel unemployed youth in the perform menial jobs, is dwindling due to the state, which will not only provide them with a growing popularity and influence of technology livelihood but also enhance confidence and self- and automation solutions. Without education and esteem. Through this program, we aim to skill the vocational skills, the future of India’s unskilled unemployed youth such that their capabilities and semi-skilled workers is dim and distressing. match the new requirements of today’s business establishments. That’s why the Indian Government, on its part, is putting in focussed efforts to skill India’s workforce. To begin with, we have created an application While many national-level initiatives by the National and on boarded unemployed youth and potential Skills Development Council (NSDC) have been put employers of the informal sector. The primary in place, state governments too are doing their bit. objective of the app is to function as a match- In Karnataka, the government has launched maker and connect the most suitable employer and Koushalya Karnataka program to train and educate employee. the youth of the state. And we are happy to state that we, at Mindtree, have been chosen as their At the same time, we have encouraged employers to primary partner to realize the centre’s and state’s start apprenticeship programs that could enhance objectives of skilling. skills of the unemployed. We are happy to note that 10,000 employers are now offering apprenticeships. The IGS application: Connecting the unemployed with the employer Skilling the unemployed Helping the employer find helping • Telephonic counselling to assess hands skills and interests • On board employers through a • Face-to-face counselling at 120 registration drive centres • Showcase job descriptions • Educate candidates on how to • Shares details on apprenticeship gain skills opportunities • Rate candidates through a score A tree always gives back 5 Our report card 55,000 8,400 Every Every Pool of job candidates employer candidate is 12,000 openings applying for offers 50 to 60 offered 25 - 30 employers apprenticeships matches opportunities I Got Knowledge Education is a child’s best gift. And across the world, the