reports
Zensar Technologies Ltd: 1 director
A director at Zensar Technologies Ltd sold 12,317 shares at 700.000INR and the significance rating of the trade was 71/100. 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 year...
MOSL: ZENSAR TECHNOLOGIES (Buy)- Revenue growth takes a pause
ZENSAR TECHNOLOGIES: Revenue growth takes a pause (ZENT IN, Mkt Cap USD0.6b, CMP INR199, TP INR280, 41% Upside, Buy) Soft topline, steady margins: 2QFY20 revenue increased 12.8% YoY (v/s est. of 14.8%) to USD152m. EBIT increased 6.2% YoY to INR1,115m (margin of 10.4%) v/s our expectation of 5.2% decline YoY. Despite higher operational income, PAT declined 16% YoY to INR799m (v/s est. of INR843m) led by higher interest expense at INR139m (v/s est. of INR39m) and lower other income at INR9m...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in CIS-deal pipeline remains ...
ZENSAR TECHNOLOGIES: Traction in CIS; deal pipeline remains healthy (ZENT IN, Mkt Cap USD0.7b, CMP INR217, TP INR286, 32% Upside, Buy) Operating performance above expectations: ZENT's 1QFY20 revenue grew 16.4% YoY (estimate: +12.2% YoY) to USD153m, while EBIT increased 6% YoY (our estimate: +2% YoY) to INR1,136m (margin of 10.7%). Despite higher operational income, PAT declined 5.8% YoY to INR787m (our estimate: INR833m) due to higher interest expense (INR166m v/s our estimate of INR45m) ...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Traction in growth and margins despite...
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...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Revenue turnaround near completion, ma...
Zensar Technologies: Revenue turnaround near completion, margins could follow (ZENT IN, Mkt Cap USD0.8b, CMP INR246, TP INR285, 16% Upside, Buy) Strong exit to FY19 augurs well going forward: ZENT's FY19 revenue grew 17.6% YoY to USD567m, EBITDA increased 30% YoY to INR4,766m (margin of 12%) and PAT rose 31.8% YoY to INR 3,137m. Organic revenue growth was ~9% in USD terms and in double-digit on factoring in the RoW discontinuation and the impact from cross currencies. ZENT announced a tot...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Revenue from large deals weighs on pro...
Zensar Technologies: Revenue from large deals weighs on profitability (ZENT IN, Mkt Cap USD0.7b, CMP INR220, TP INR260, 18% Upside, Buy) Large deals take a toll on profitability: Revenue grew 17% YoY (our estimate: +16% YoY) to USD143.7m, EBITDA increased 5% YoY (our estimate: +30% YoY) to INR1,104m, while PAT declined 2% YoY to INR565m (1.5% miss). CC revenue growth of 4.5% QoQ (+17.6% YoY) was above our estimate of 3.2%. Excluding revenues from the full-quarter integration of IndigoSlat...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Concentrated efforts in Digital now fr...
Zensar Technologies: Concentrated efforts in Digital now fructifying (ZENT IN, Mkt Cap USD0.7b, CMP INR229, TP INR300, 31% Upside, Buy) We attended Zensar’s (ZENT) Analyst Day, where the company elaborated on its ‘Living Digital’ philosophy, which it is leveraging to differentiate and grow the Digital business. Key takeaways: The 'RoD Next' strategy is premised on leveraging artificial intelligence, enhancing customer experience and delivering smarter platforms to achieve sustainable gro...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Exhibiting strategy proof points
Zensar Technologies: Exhibiting strategy proof points (ZENT IN, Mkt Cap USD0.8b, CMP INR1241, TP INR1500, 21% Upside, Buy) Encouraging traction: ZENT's 6.6% QoQ growth to USD135m (+2.2% QoQ) was above our estimate of USD129m because of the acquisition of Cynosure, which we were expecting to be integrated in 2Q. Organic growth on 3% CC was inline. EBITDA margin expanded 100bp QoQ to 12.9%, missing our estimate by 100bp, which was due to provisioning for a bankrupt client. PAT of INR821m wa...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Ready to grow the core-improve profita...
Zensar Technologies: Ready to grow the core; improve profitability (zent IN, Mkt Cap USD0.8b, CMP INR1248, TP INR1450, 15% Upside, Buy) We attended the RPG Group analyst meet. In this note, we present the key highlights of our meeting with Zensar Technologies (ZENT): As Digital scales up, profitability should follow suit Approach to Digital reaping dividends…: Digital has been growing at more than 30% and now contributes 41% of ZENT’s total revenue. More than 80% of the business has be...
MOSL: ZENSAR TECHNOLOGIES (Buy)-In-line-reported margin impacted by on...
ZENSAR TECHNOLOGIES: In-line; reported margin impacted by one-time provisioning (ZENT IN, Mkt Cap USD0.8b, CMP INR1208, TP INR1400, 16% Upside, Buy) Encouraging traction in Digital and the US: ZENT's 3.3% QoQ growth was in line with expectations. However, CC revenue growth was 1% v/s estimate of 1.9%, while tailwinds from cross-currency were stronger. 7% QoQ growth in Applications was partly offset by a 15% sequential decline in IMS. Digital continued exhibiting strength, growing at 8% Qo...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Just one piece left to fit now
Zensar Technologies: Just one piece left to fit now (ZENT IN, Mkt Cap USD0.6b, CMP INR910, TP INR1100, 21% Upside, Buy) Revenue beat in a seasonally weak quarter: ZENT’s 3.4% QoQ growth was above our estimate of +1.5%. Strong growth despite seasonal weakness was led by 9% QoQ growth in Digital, which now constitutes 39% of total revenue. Gross/EBITDA margin expansion of 130/170bp was mainly driven by higher growth from Digital and efficiencies led by internal deployment of its Return on Digi...
MOSL: ZENSAR TECHNOLOGIES (Buy)- Waiting for the big guns to start fir...
​Zensar Technologies:Waiting for the big guns to start firing(ZENT IN, Mkt Cap USD0.5b, CMP INR835, TP INR1020, 22% Upside, Buy)Revenue beat despite IM weakness: ZENT's 3.3% QoQ CC growth was higher than our estimate of +2.3%. In USD terms, revenue grew 3.8% QoQ to USD119m. While Application Services grew 5.2% QoQ CC, a decline in Infrastructure Management (IM) dragged growth lower. EBITDA margin expanded 140bp QoQ to 11.6%, despite a wage hike impact of -150bp; apart from other factors, a dec...
MOSL: ZENSAR TECHNOLOGIES (Neutral)-Legacy pressures offset Digital pi...
​Zensar Technologies: Legacy pressures offset Digital pivot(ZENT IN, Mkt Cap USD0.6b, CMP INR830, TP INR950, 15% Upside, Buy)Revenue growth led by Keystone: ZENT’s 1QFY18 revenue grew 2.5% QoQ CC, as against our estimate of +5.3%. The quarter also included incremental revenue of ~USD5m from the integration of Keystone, implying organic revenue decline of ~2%. Pressure in the organic business was led by ramp-down in Oracle ATG implementations, delays in the Manufacturing vertical deal ramp-up...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Active Digital-oriented transformation...
​Zensar Technologies: Active Digital-oriented transformation; Synchronizing demand, offerings, delivery and sales(ZENT IN, Mkt Cap USD0.6b, CMP INR869, TP INR1020, 17% Upside, Buy)We attended the RPG Group analyst meet. Key highlights of the meeting with Zensar Technologies (ZENT):Duality in the business…: 80% of the incremental dollars are being spent on Digital by enterprises. While this offers a large opportunity, some headwinds have been looming over the industry. The decline in the trad...
MOSL: ZENSAR TECHNOLOGIES (Buy)-Two steps ahead, one step back-Profita...
​Zensar Technologies: Two steps ahead, one step back; Profitability bogged down by restructuring(ZENT IN, Mkt Cap USD0.6b, CMP INR835, TP INR1020, 22% Upside, Buy)Revenue decline led by ramp-up delays: ZENT’s 4QFY17 revenue declined 4.9% QoQ (est. of +2.7%) to USD112m. The decline was led by absence of Product revenue (~USD8m), which sees a bump-up in 3Q, and delays in ramp-ups leading to some right-shifting of revenue. While this resulted in a 26% decline in IM revenue (19% of total), the A...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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