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Prabhudas Lilladher Report
Mphasis Ltd.'s Q4 performance was in-line with consensus estimates. Management guided industry leading growth in direct business to continue given -
FY22 total contract of $1.428 billion up 28.5% YoY U.S. dollar,
strong client mining ability (two clients in $150 million plus bucket and six in $75 million plus bucket),
tribes led pipeline up 16% YoY in Q4,
ability to win large deals (deal size up two times in two years) and
expansion of addressable market led by newer competencies (including mergers and acquisition).
Increase in number of large deal wins (five in Q4 and 12 in FY22) with increasing deal sizes improves Mphasis' visibility over medium term.
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