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.
Motilal Oswal Report
Tech Mahindra Ltd.'s U.S. dollar revenue growth of 7.2% QoQ constant currency in Q2 FY22 was above our estimate, led by broad based growth within both communications/enterprise (up 7.7%/up 7% QoQ constant currency).
New deal wins fell 8% QoQ to $750 million, but stayed ahead of past trends. The management continues to see sustained traction in deal win momentum.
Ebit margin was flat QoQ (40 basis points above our estimate) in Q2 FY22, with the benefit from operating leverage offset by utilisation and subcontracting cost.
Tech Mahindra had a record high net addition of ~15,000 employees in Q2 FY22. While utilisation dipped 100 bps, it is still at the highest level in our IT coverage (89% excluding trainees).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR