Mastek Company Update - Near Term Deal Wins Key Monitorable: ICICI Direct
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ICICI Direct Report
Mastek Ltd offers. data, apps, cloud services to public & private enterprise in the U.K., U.S., Middle East, Asia Pacific and India.
The company’s recent acquisition of Evosys has enabled Mastek to provide end-to-end solutions and improves margins from ~14% to 21%.
Net debt free and healthy double digit return ratio (with RoCE of 20%) Q2FY22 Results: Mastek reported muted Q2FY22 results.
Dollar revenues increased 2.6% quarter-on-quarter to U.S. $72.0 million U.K. business declined 1.2% quarter-on-quarter while U.S. grew 22.3% quarter-on-quarter.
Deal wins declined 1.8% quarter-on-quarter to U.S. $155.5 million.
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