The general evaluation of TECH MAHINDRA (IN), a company active in the Computer Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date March 22, 2022, the closing price was ...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
TECH MAHINDRA: Improving outlook, but operational metrics stretched (TECHM IN, Mkt Cap USD14.7b, CMP INR1128, TP INR1220, 8% Upside, Neutral) Further re-rating to require consistency in growth In USD terms, revenue growth of 3.9% QoQ CC in 1QFY22 was above our estimate mainly on account of Communications (+2.9% v/s expectation of flat growth). The Enterprise business reported a growth of 4.7% QoQ CC. New deal wins fell 20% QoQ to USD815m (0.6x BTB), but stayed ahead of past trends, while...
A director at Tech Mahindra Limited sold 1,500 shares at 1,005.367INR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
Tech Mahindra: Encouraging deal wins and good outlook (TECHM IN, Mkt Cap USD10.8b, CMP INR795, TP INR920, 16% Upside, Buy) Margins – key monitorable; Reiterate Buy In a weak demand environment, TECHM surprised by announcing USD1.2b new deal wins (+180% YoY). In conjunction with the AT&T deal (ramped up in Dec’19), this should translate into strong revenue growth in FY21 (13%, USD). Differences in the portfolio mix will likely keep TECHM insulated from the current weak demand environment ...
TECH MAHINDRA: Enterprise growth drives all-round performance (TECHM IN, Mkt Cap USD10.6b, CMP INR773, TP INR910, 18% Upside, Buy) Revenue outperformance: For 2QFY20, TECHM's revenue grew 7.3% YoY CC (v/s estimate of +4.8% YoY), EBIT declined 12.4% YoY (estimate of -18.4% YoY) and PAT increased 5.6% YoY (estimate of -10.8% YoY). Higher deal wins in the Enterprise segment led to the revenue outperformance. EBIT margin expanded 130bp QoQ to 12.8%, a 60bp beat to our estimate of 12.2%. However,...
Tech Mahindra: Announces one of its largest-ever deals (TECHM IN, Mkt Cap USD9.7b, CMP INR722, TP INR830, 15% Upside, Buy) Tech Mahindra (TECHM) has secured one of its largest-ever deals from AT&T, which is among its top accounts. Based on media reports, total contract value (TCV) is estimated to be in the range of USD1b. The deal, which will ramp up from 3QFY20, is expected to have a total duration of ~6.5 years. As part of the multi-year agreement, TECHM will help AT&T in network ...
TECH MAHINDRA: Significant margin miss drives 8-11% earnings cut (TECHM IN, Mkt Cap USD9.2b, CMP INR640, TP INR770, 20% Upside, Buy) Profit below est. due to plummeting margins: 1QFY20 revenue grew 3.7% YoY CC (v/s est. of +3.8% YoY), EBIT declined 8% YoY (v/s est. of +10.5% YoY) and PAT increased 7% YoY (v/s est. of +17.9% YoY). EBIT margin declined 390bp QoQ to 11.4% (220bp miss to our est. of 13.6%). Margins were primarily impacted by a sharp decline in GPM, down 430bp QoQ to 28.8% (26...
Tech Mahindra: Confidence on Communications continues to inch up (TECHM IN, Mkt Cap USD10.6b, CMP INR750, TP INR900, 20% Upside, Buy) We hosted Manoj Bhat, CFO of Tech Mahindra, in Mumbai where he shed some light on the industry environment and TECHM's outlook and strategic approach. Key highlights: Telecom is back on the growth trajectory due to multiple broad-based services deals. Action on the 5G rollout front - not as significant currently - is expected to accelerate CY20 onwards; lest...
Tech Mahindra: Communication and Enterprise swap momentums (TECHM IN, Mkt Cap USD10.9b, CMP INR773, TP INR890, 15% Upside, Buy) A contrasting year for revenues and margins: For FY19, TECHM's USD revenue grew 4.2% YoY, EBITDA increased 34% YoY and PAT was up 13% YoY. Including the buyback of INR19.6b, the total payout for the year stood at 74.5%. For 4QFY19, USD revenue grew 1.9% YoY (our estimate: +3.5% YoY), EBITDA increased 16% YoY (our estimate: 23%) to INR16.4b, while PAT declined 7% ...
TECH MAHINDRA: Buyback announced at INR950/share; Limited upside triggers in the near term; growth uptick is imperative (TECHM IN, Mkt Cap USD11.3b, CMP INR820, TP INR940, 15% Upside, Buy) TECHM announced buy back of shares worth INR19.56b at a ceiling price of INR950/share through a tender offer (~2.7% of market cap). Total amount of shares considered will not exceed 20.56m (2.3% of total paid-up equity capital). The amount is less than 10% of networth (9.4%), and thus, would not require s...
Q3FY19 results highlights Strong Revenue & Margin performance: Reported revenue grew by -3.5%/+4.3% qoq/yoy to US$ 1260m (IDFCe: US$1242m).CC revenues growth of 4.3% vs. IDFCe: 2.6% qoq. Enterprise vertical posted strong growth this quarter (up 4.2% qoq,7.4% yoy), followed by growth in communication vertical (up 2.5% qoq,0.1% yoy). EBIT margins were up 75bp qoq to 16.1% (IDFCe:15.5%) led by operational efficiencies. Reported EPS grew by 13.0% qoq to Rs13.5 (IDFCe.:Rs12.6) due to strong EBITDA...
Tech Mahindra: Building momentum in Communications; Margin expansion to take a breather (TECHM IN, Mkt Cap USD10.3b, CMP INR750, TP INR860, 15% Upside, Buy) Revenue above estimate; PAT beat led by lower forex losses TECHM's revenue grew 4.2% YoY (our estimate: +2.7%) to USD1,261m, EBITDA increased 36% YoY (our estimate: +34%) to INR17.2b and PAT grew 28% YoY (our estimate of flat growth) to INR12.0b in 3QFY19. CC revenue grew 4.3% QoQ (+6.4% YoY; our estimate: +2.6% QoQ, +4.7% YoY) in ...
Q2FY19 results highlights Tepid revenue performance due to healthcare vertical: Reported revenue de-grew by -0.5%/+3.3% qoq/yoy to US$ 1218m (IDFCe: US$1236m).CC revenues growth of 0.4% vs. IDFCe: 1.7% qoq. Revenue growth was tepid this quarter due to de-growth in healthcare business as some projects ended in 3-4 hospitals. Healthcare business caused a loss of 40mn in Q2FY19. EBIT margins were up 234bp qoq to 15.3% (IDFCe:14.4%) led by operational efficiencies. Reported EPS grew by 18.5% qoq ...
Tech Mahindra: Telecom strength offset by Enterprise softness; Execution on margins drives better-than-expected operating profit (techm IN, Mkt Cap USD9.1b, CMP INR684, TP INR800, 17% Upside, Buy) Revenue miss offset by margins beat: TECHM’s CC revenue came in flattish QoQ (+0.4% v/s our estimate of +1.5%) in 2QFY19. The miss can be ascribed to a sharper-than-expected decline in Healthcare. EBITDA margin expanded 240bp QoQ, mainly led by operational efficiencies and currency tailwinds. PA...
Q1FY19 results highlights Quarterly performance beats expectation: Reported revenue de-growth of -1.6%/+7.6% qoq/yoy to US$1224m (IDFCe: US$1223m).CC revenues growth of 0.3% vs. IDFC: -0.5% qoq. EBIT margins down 82bp qoq to 13.0% (IDFCe:12.8%) led by operational efficiencies. Reported EPS de-grew 27% qoq to Rs10.8 (IDFCe.:Rs10.1) on lower forex income. TCV win of ~US$270m+ in Q1FY19. Enterprise business continues strong momentum: Growth was led by enterprise business (3.8% qoq CC) & commun...
Tech Mahindra: Operating performance marginally ahead; Telecom outlook encouraging (TECHM IN, Mkt Cap USD9.4b, CMP INR655, TP INR800, 22% Upside, Buy) 1QFY19 operating performance marginally ahead: TECHM's 1QFY19 CC revenue was flattish QoQ (+0.3%) and grew 6.9% YoY, better than our expectation of a 1.2% QoQ decline and 5.3% YoY growth. EBITDA of 16.4% (-110bp QoQ) was marginally better than our estimate of 16.0%; ~250bp of headwinds from wages, visas, Comviva and utilization were partly ...
The MSCI ACWI advanced to another new high yesterday - to levels not seen since mid-March - as global markets have shrugged off the Italian political situation. Both the U.S. and Emerging Markets are leading the move to new highs (more on EM later). While potential resistance levels exist, these recent developments only improve on our already positive outlook... see charts below. • Major themes: Opportunities within Technology and Real Estate. Global Technology stocks are breaking out to new ...
Q4FY18 results highlights Quarterly performance beats expectation: Reported revenue growth of 2.9%/10% qoq/yoy to US$1244m (IDFCe: US$1235m). Constant currency revenues grew 1.7% qoq vs. IDFCe 1% qoq. EBIT margins up 108bp qoq to 13.8% (IDFCe:13.4%) led by operational efficiencies. Reported EPS grew 29.6% qoq to Rs13.74 (IDFCe: Rs10.75) – led by higher EBIT, other income and lower tax. TCV win of ~US$300m+ in Q4FY18. Enterprise business continues strong momentum: Growth was led by enterpris...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.