Persistent Systems Q4 Review - Best-In-Class Performance To Continue In FY22E: Motilal Oswal
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Persistent Systems Q4 Review - Best-In-Class Performance To Continue In FY22E: Motilal Oswal

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

We were impressed by Persistent Systems Ltd.'s strong performance in Q4 FY21 – U.S. dollar revenue growth of 4.6% QoQ (100 basis point above our estimate) and 16.9% Ebitda margin (down 10 basis point QoQ despite a one-month wage hike impact).

Order bookings of $246 million (1.6 times book-to-bill ratio) in Q4 FY21 points to good growth visibility for FY22E, especially with management commentary that the total contract value run-rate of over $200 million will result in a quarterly revenue growth of 4.5-5% in U.S. dollar terms.

Click on the attachment to read the full report:

Motilal Oswal Persistent Systems Q4FY21 Result Review.pdf

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