Company Update - Mastek Ltd - ICICI Direct

We attended the Analyst Day of Mastek with key takeaway being:

- Mastek aspires to reach US$1 bn revenue in five to six years from now. The revenue number includes five to six acquisitions in that period

- The company is looking to aggressively expand in US market (17.6% revenue mix in FY22). As a result, it expects this pie to reach 33.8% by FY25

- Mastek aligned leadership for US market growth wherein it has appointed Umang Nahata, CEO of Evosys, as president, North America business

- The company has 10-15% wallet share in the UK public market and has significant growth headroom

Key triggers for future price performance

- Growth in new logo acquisition, increasing deal size, expansion of sales & marketing and market share gains in the UK market to drive revenues

- Management change in the US market may help it to grow stronger and achieve the desired revenue mix

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

Shares of Mastek Limited was last trading in BSE at Rs. 2945.40 as compared to the previous close of Rs. 2827.40. The total number of shares traded during the day was 13506 in over 2098 trades.

The stock hit an intraday high of Rs. 2959.30 and intraday low of 2835.00. The net turnover during the day was Rs. 39577995.00.

Source : Equity Bulls

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Mastek INE759A01021 CompanyUpdate ICICIDirect