Company Update - Mastek Ltd - ICICI Direct

Reported weak organic growth in Q3.

- Revenue grew 3.1% QoQ in CC terms with flat organic growth while in dollar terms revenue grew 2.6% QoQ
- EBITDA margin was flat sequentially at 17.3%
- Reported 12M order backlog of US$206.2 mn, up 10.2%QoQ

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

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

- Acquisition of MST Solutions will help drive growth in the US region

- Expect revenues to grow at 8.2% CAGR in FY22-25E

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

Shares of Mastek Limited was last trading in BSE at Rs. 1631.60 as compared to the previous close of Rs. 1698.10. The total number of shares traded during the day was 8148 in over 1453 trades.

The stock hit an intraday high of Rs. 1678.15 and intraday low of 1621.50. The net turnover during the day was Rs. 13434733.00.

Source : Equity Bulls

Keywords

Mastek INE759A01021 ICICIDirect Q3FY23 ResultUpdate