Tech Mahindra Q2 Review - Outstanding Execution: 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
Tech Mahindra Ltd. reported revenue of $1,472.6 million growth of 6.4% QoQ U.S. dollar, much above our and consensus estimates.
It includes ~1% contribution from full quarter consolidation of two acquisitions, viz. DigitalOnUs and Eventus.
Growth was strong across enterprise vertical up 6.3% QoQ U.S. dollar and communications vertical up 6.7% QoQ U.S. dollar.
Growth momentum is expected to continue given strong net new deal total contract value of $750 million, 78% YoY and trailing twelve months net new deal TCV of ~$3 billion, up 25% YoY.
H2 is seasonally strong for Tech Mahindra.
Ebit margins were resilient despite supply side pressures at 15.2%, flat QoQ.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.