Company Update - Mastek Ltd - ICICI Direct

Mastek reported muted Q2FY22 results.

• Dollar revenues increased 2.6% QoQ to US$72.0 million
• UK business declined 1.2% QoQ while US grew 22.3% QoQ
• Deal wins declined 1.8% QoQ to US$155.5 million

Key triggers for future price performance

• Growth in new logo acquisition, increasing deal size, expansion of sales & marketing and market share gains to drive revenues
• Evosys' aspiration to double its revenues (from current ~20-25%) in the US, healthy order book, inorganic growth (led by healthy cash balance) and hiring of US based CEO to drive US growth are other long term drivers for revenues
• Expect dollar revenues to grow at 20.9% CAGR in FY21-23E

For details, click on the link below: Link to the report

Shares of Mastek Limited was last trading in BSE at Rs. 2851.00 as compared to the previous close of Rs. 2826.10. The total number of shares traded during the day was 29430 in over 5996 trades.

The stock hit an intraday high of Rs. 2983.00 and intraday low of 2830.00. The net turnover during the day was Rs. 85545007.00.

Source : Equity Bulls

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Mastek INE759A01021 IT SoftwareProducts CompanyUpdate ICICIDirect