Tech Mahindra Q4 Review- Ebit Margin Performance Continues To Surprise: IDBI Capital
A Tech Mahindra Ltd. office building in the Electronic City area of Bengaluru, India. (Photographer Dhiraj Singh/Bloomberg)

Tech Mahindra Q4 Review- Ebit Margin Performance Continues To Surprise: IDBI Capital

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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

While Tech Mahindra Ltd.’s Q4 FY21 revenue was slightly lower than our forecast, Ebit margin was a beat.

Revenue grew by 0.7% QoQ in constant currency (up 1.6% QoQ in U.S. dollar terms).

Ebit margin improved by approximately 55 basis points QoQ to 16.5%, a 25-quarter high.

However, recurring earnings per share of Rs 13, 13.7%/ up 10.5% QoQ/YoY was a miss, impacted by forex loss and higher effective tax rate.

In Q4 FY21, the company has secured new deals with total contract value of $1,043 million and is confident of similar run-rate in Q1 FY22.

Click on the attachment to read the full report:

IDBI Capital Tech Mahindra Q4FY321 Result Review.pdf

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