Q1FY22 Company Update - Mphasis - ICICI Direct

Mphasis reported robust Q1FY22 results.

- Dollar revenues increased 6.8% QoQ to US$362.9 million

- Deal wins increased almost 2x, mainly led by large deal won

- Expects industry leading growth in direct and EBIT margin of 15.5-17%

Key triggers for future price performance

- Strategy to mine top 10, 20 clients, adding high potential new logos, increase in deal sizes & expansion in Europe bode well for long term growth

- Further, management stability, improving deal size, market share gains via vendor consolidation, low legacy exposure and exposure to lesser impacted vertical are expected to drive direct revenues at 22% CAGR in in FY21-23E

- Improving revenue trajectory, higher offshoring, pricing and automation are expected to boost margins (126 bps to 17.3% in FY21-23E)

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

Shares of MPHASIS LTD. was last trading in BSE at Rs. 2526.05 as compared to the previous close of Rs. 2396.85. The total number of shares traded during the day was 227754 in over 14118 trades.

The stock hit an intraday high of Rs. 2692.35 and intraday low of 2472.7. The net turnover during the day was Rs. 586787278.

Source : Equity Bulls

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