Motilal Oswal - Zensar Technologies (ZENT) MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in growth and margins despite tight supply

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Motilal Oswal

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MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in growth and margins despite tight supply

Zensar Technologies: Traction in growth and margins despite tight supply

(ZENT IN, Mkt Cap USD0.8b, CMP INR256, TP INR300, 17% Upside, Buy)

We attended the RPG Group analyst meet, where ZENT management shared its views on the key verticals and the strategy going ahead. Key highlights:

Targeting Digital to be two thirds of revenues in next three years

Digital contributes 45% of revenues and is expected to exceed 60% in 3-4 years.
Hi-Tech remains the key vertical, which is expected to drive this digital growth. Customers from Independent Software Vendors (ISVs) and Internet/Social/Mobile (ISM) sub-segments are spending heavily on digital which needs to be tapped. Acquisition of Indigo Slate and Foolproof has helped add more clients in this segment.
Digital has only slightly higher onsite mix than non-digital. From 2,200 digital employees, 1,200 are in the US and the rest are based in the UK and South Africa.

13/06/2019 1 EN

Underlying

Zensar Technologies

Zensar Technologies offers a comprehensive range of I.T. services including software development, packaged software implementation and system maintenance services to its worlwide customers operating in different industries. Co. also offers remote services in the voice and non-voice categories.

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INE520A01019 India

Provider

Motilal Oswal

Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.

Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.

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MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in growth and margins despite tight supply

Zensar Technologies Ltd: 1 director

MOSL: ZENSAR TECHNOLOGIES (Buy)- Revenue growth takes a pause

MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in CIS-deal pipeline remains healthy

MOSL : HOME FIRST FINANCE COMPANY: Earnings in-line with sustained improvement in asset quality

MOSL : SHOPPERS STOP: Ticking the right boxes

MOSL : ERIS LIFESCIENCES: Enhanced efforts toward product launch-related activities

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