IDBI Capital: Tech Mahindra’s Q2 Ebit Margin Improves At 5G Speed
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IDBI Capital: Tech Mahindra’s Q2 Ebit Margin Improves At 5G Speed

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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.

IDBI Capital Report

Tech Mahindra Ltd.’s Q2 FY21 result was a beat to our forecast. Revenue grew by 2.9% QoQ in constant currency terms (up 4.8% QoQ in U.S. dollar terms).

Ebit margin improved by a whopping approximately 410 basis points QoQ to 14.2% (six quarter high) and was a big beat to our forecast.

Earning per share of Rs 12.2, up 9.4%/down 5.5% QoQ/YoY was also a beat.

In Q2 FY21, the company has secured large deals with total contract value of 421 million U.S. dollar (207 million U.S. dollar in communications and 214 million U.S. dollar in enterprise business).

Click on the attachment to read the full report:

IDBI Capital Tech Mahindra Q2FY21 Result Update.pdf

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