Investment Idea - Zensar Technologies - Risk Reward Attractive: Motilal Oswal
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Investment Idea - Zensar Technologies - Risk Reward Attractive: Motilal Oswal

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Motilal Oswal Report

Zensar Technologies Ltd., part of RPG Group, is a leading digital solution (64% of revenue) and technology service provider.

While the company's revenue performance in FY21 (down 12% YoY in constant currency terms) was among the weakest in our IT Services coverage due to hit from both Covid-19 and restructuring in its top account (over 20% of revenue), it reported an impressive profit after tax growth (33% YoY), led by 6% Ebitda margin improvement.

Its topline performance has been weak over the last two years.

However, with a new leadership (Mr. Ajay Bhutoria took over in January 2021), refreshed strategy, and reinvestment of margin gains in sales, we expect it to return to sustainable growth from H2 FY22.

Click on the attachment to read the full report:

Motilal Oswal Investment Idea ZensarTechnologies .pdf


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