BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Coforge Ltd. reported revenue growth of 5.1% QoQ constant currency (our estimate: 5.0%) led by traction in other vertical (33% of revenue) with 17.9% QoQ growth.
Ebit margin stood at 13.3% (up 27 basis points QoQ) (our estimate: 13.5%) due to slightly higher selling general and administrative expenses (up 8.9% QoQ) negated by positive operating leverage.
Dividend announced at Rs 13 per share.
Guided for 'at least 17% constant currency' organic growth and better momentum in acquired SLK Global Solutions business (17% CAGR in three years).
This is driven by revival in travel vertical, strong pipeline (three large deals cumulating $200 million), 11% growth in 12 months order book and strong demand environment.
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