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Q4FY22 Preview: Tech Mahindra: Revenues seen at Rs121,073 million, PAT at Rs14,250 million

Good performance is expected from the company

May 11, 2022 3:23 IST | India Infoline News Service
Result date: 13th May, 2022
Recommendation: Buy
Target price: 1,800
 
Tech Mahindra is likely to post constant currency revenue growth of 5.6% on a sequential basis, driven by inorganic contribution and seasonality in the communication vertical.

Its EBIT margin could shrink 60 basis points sequentially, as operational improvements are offset by the lack of one off benefits on SG&A expenses (which were present in the December 2021 quarter).

Profit After Tax (PAT) could grow 4.1% on a sequential basis.

Important management insights to watch out for:
  • Deal wins, particularly on 5G deals
  • Revenue and margin outlook for FY23
  • Capital allocation
  • Integration of acquisitions
  • Supply-side trends
 
March 2022 estimates QoQ change YoY change
Revenue (US$ mn) 1,609 4.9% 21.0%
Revenue (Rs. mn) 121,073 5.7% 24.4%
EBIT (Rs. mn) 17,245 1.6% 7.5%
EBIT margin 14.2% (60) bps (220) bps
Profit After Tax (Rs. mn) 14,250 4.1% 25.9%
EPS (Rs.) 16.1 4.1% 25.5%
Source: IIFL Research

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