Q3FY22 Company Update - Mastek Ltd - ICICI Direct

Mastek reported muted Q3FY22 results.

• Dollar revenues increased 2.2% QoQ to US$73.6 million while in CC terms growth was 3.7% QoQ
• UK business grew 2.3% QoQ while US grew 5.1% QoQ
• Deal wins improved 10% QoQ to US$171 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 18% CAGR in FY21-24E

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

Shares of Mastek Limited was last trading in BSE at Rs. 2847.80 as compared to the previous close of Rs. 2855.95. The total number of shares traded during the day was 24571 in over 4183 trades.

The stock hit an intraday high of Rs. 2910.00 and intraday low of 2825.15. The net turnover during the day was Rs. 70649359.00.

Source : Equity Bulls

Keywords

Mastek INE759A01021 Q3FY22 CompanyUpdate ICICIDirect