Coforge Q4 Review -  A Champion: Prabhudas Lilladher
Employees type on desktop computer keyboards as they monitor data at a securities brokerage in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Coforge Q4 Review - A Champion: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Coforge Ltd. surprised us with a strong beat on revenue growth of 5.1% QoQ constant currency, 7.1% QoQ U.S. dollar, much above (up 310 basis points) our estimates (our estimate: 4% QoQ U.S. dollar).

Strong growth in three consecutive quarters despite 28% (pre-Covid-19) exposure to the worse affected travel sector resulted in 6% YoY constant currency growth, exactly in line with their guidance for FY21.

The company’s strong and niche capabilities in banking and financial services, insurance and others led to very strong growth ex-travel at 18.4% YoY constant currency in FY21.

Click on the attachment to read the full report:

Prabhudas Lilladher Coforge Q4Fy21 Result Update.pdf

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