25 Apr 2023 , 10:44 AM
Result date: 27th April, 2023
Recommendation: Add
Target price: Rs 1,200
Analysts at IIFL Capital Services believe Tech Mahindra’s revenues could decline 0.4% cc sequentially, due to broad-based demand slowdown across verticals and continued top client weakness. Deal wins in Q4 are also likely to highlight the impact of weakening macro. Analysts at IIFL Capital Services expect margins to expand by 40 basis points sequentially, as the company continues to rationalize lower-margin business and reaps in benefits of improved productivity.
The company’s Profit After Tax or PAT could grow 2.7% on a sequential basis.
Important management insights to watch out for:
March 2023 estimates |
QoQ change |
YoY change |
|
Revenue (US$ mn) |
1,695 |
1.6% |
5.4% |
Revenue (Rs. mn) |
139,501 |
1.6% |
15.1% |
EBIT (Rs. mn) |
17,300 |
5.1% |
7.8% |
EBIT margin |
12.4% |
40 bps |
(80) bps |
Profit After Tax (Rs. mn) |
13,314 |
2.7% |
(11.6)% |
EPS (Rs.) |
15.0 |
2.7% |
(11.2)% |
Source: IIFL Research
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