Birlasoft Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BSOFT, BSE:532400 Birlasoft Ltd.

Birlasoft Ltd.

25 Oct 2018

422.30

1.59%

KPIT-Result Update

Buy: Birlasoft Ltd.

Recommendation Target

Reliance Securities

1Q Action Replay: Revenue Below Estimate, Margin Exceeds Estimate KPIT Technologies (KPIT) has delivered a mixed performance in 2QFY19. While its USD revenue grew by 1.3% QoQ to US$152.5mn (1.4% below our estimate), EBITDA margin rose by a robust 147bps QoQ. In CC terms, revenue rose by 2.9% QoQ. While IES (-5.9% QoQ) and SAP (-2.6% QoQ) businesses again pressurised revenue, USD revenue from Product Engineering and Products & Platforms (P&P;) businesses grew by a healthy 5.1% QoQ and 33.7% QoQ, respectively. Notably, P&P; business is lumpy in nature. Beating our estimate by 222bps, EBITDA margin expanded by a robust 147bps QoQ to 13.6% despite wage hike impact of 220bps owing to INR depreciation...

Birlasoft Ltd. has lost -30.01% in the last 6 Months

Birlasoft Ltd.

21 Aug 2018

422.30

1.59%

Riding high on the optionality of demerger benefits

Neutral: Birlasoft Ltd.

Target

Motilal Oswal

21 August 2018 After several years of coping with integration issues and legacy pressures in its IT services business, KPIT announced that it would demerge its Engineering business and merge the IT services bit with Birlasoft. KPITs Engineering business has been its strongpoint, exhibiting 16% revenue CAGR over the last five years. Birlasoft too has been under pressure because of issues in its top client and has witnessed a decline of ~4% in revenue over the last three years. However, we note that during this period, positioning, prowess and performance in the Engineering business has been strong; and a majority of the issues can be attributed to the companys presence and efforts in the IT services business. KPIT Technologies On completion of the transaction, we reckon the Engineering Services side should grow at a 20% CAGR.

Birlasoft Ltd. has an average target of 480.50 from 4 brokers.

Birlasoft Ltd.

27 Jul 2018

422.30

1.59%

KPIT Technologies

Hold: Birlasoft Ltd.

Target

ICICI Securities Limited

KPIT reported a better-than-expected margin performance in Q1FY19 while revenues were below our estimates US$ revenues grew marginally by 0.2% QoQ to $150.5 million, below our 1.8% growth and $152.9 million estimate Revenues in rupees grew 4.9% QoQ to | 1013.8 crore, below our estimate of 6% growth and | 1024.8 crore EBITDA margins expanded ~70 bps QoQ to 12.1%, above our 50 bps expansion and 11.9% estimate. Better-than-expected margin...

Birlasoft Ltd. is trading above its 50 day SMA of 400.5

Birlasoft Ltd.

26 Jul 2018

422.30

1.59%

KPIT Tech

Buy: Birlasoft Ltd.

Dolat Capital

Revenue above Industry Avg. coupled with margin improvement KPIT reported muted Q1FY19 with a USD revenue growth of 0.2% QoQ supported by services business. EBIT margin improved 74bps QoQ to 9.4% (DCMe: 9.5%) largely on back of operational efficiencies and INR depreciation. The stock is currently trading at inexpensive valuations 13.6x/11.3x FY20/FY21 earnings estimates. We believe revenue growth above industry avg., coupled with margin improvement will lead to absolute upside in near to medium term; upgrade the stock to ACCUMULATE...

Birlasoft Ltd. has lost -30.01% in the last 6 Months

Birlasoft Ltd.

26 Jul 2018

422.30

1.59%

KPIT - 1QFY19 Result Update

Hold: Birlasoft Ltd.

Target

Reliance Securities

KPIT Technologies (KPIT) has delivered a subdued revenue performance in 1QFY19, which grew 0.2% QoQ in USD terms to US$150.5mn (0.8% below our estimate). In CC terms, core service revenue rose by 3.5% QoQ. USD revenue from Product Engineering business grew by a healthy 5.5% QoQ, while IES revenue rose by a decent 2.7% QoQ. However, revenue from Products & Platforms declined by a steep 39.6% QoQ. It should be noted that this business is lumpy in nature. While Digital Transformation saw 2.2% QoQ growth, SAP continued to face growth headwinds with the business declining by 3.5% QoQ, marking the third successive quarter of decline. EBITDA margin expanded by 75bps (95bps ahead of our estimate) owing to INR...

Birlasoft Ltd. has an average target of 480.50 from 4 brokers.

Birlasoft Ltd.

25 May 2018

422.30

1.59%

KPIT Technologies

Hold: Birlasoft Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research KPIT reported a better than expected Q4FY18 on all fronts US$ revenues grew 6.4% QoQ to $150.2 million, above our 1% growth and $142.6 million estimate Revenues in rupees grew 5.9% QoQ to | 966.4 crore, above our estimate of 0.5% growth and | 917.5 crore EBITDA margins expanded ~50 bps QoQ to 11.4%, above our 30 bps expansion and 11.1% estimate. Margin expansion was on the...

Birlasoft Ltd. has an average target of 480.50 from 4 brokers.

Birlasoft Ltd.

24 May 2018

422.30

1.59%

KPIT Technologies (4QFY18): PES outperformance continues. Maintain NEUTRAL

Neutral: Birlasoft Ltd.

Target

HDFC Securities

Increase earnings est on margin reset and maintain NEUTRAL of KPIT with TP of Rs 250, 13x FY20E (12x earlier). KPIT Tech (KPIT) posted strong revenue and operating performance. Rev came at USD 150mn, 6.4/17.1% QoQ/YoY. Growth was led by PES (36.3% of rev) which grew 12% QoQ. EBITDA% came at 12.7%, +186bps QoQ (adjusted for one-time expense of Rs 129mn) supported by offshore-led growth. APAT at Rs 0.76bn was supported by lower ETR.

Birlasoft Ltd. is trading above its 50 day SMA of 400.5

Birlasoft Ltd.

24 May 2018

422.30

1.59%

KPIT - 4QFY18 Result Update

Hold: Birlasoft Ltd.

Target

Reliance Securities

Impressive Performance; FY19E Revenue Outlook Fairly Conservative KPIT Technologies (KPIT) has delivered a strong performance in 4QFY18. Its revenue grew by 6.4% QoQ and topped US$150mn-mark (3.4% above our estimate) led by robust 12% QoQ growth (USD terms) in Product Engineering business. Revenue from Products & Platforms segment also grew by a healthy 49.9% QoQ, though this business typically shows volatility on quarterly basis. While revenue from Digital Transformation business grew by 6.3% QoQ, ERP business saw subdued growth (IES: up 0.3% QoQ & SAP: down 2.1% QoQ). Its EBITDA margin expanded by 53bps QoQ on higher utilisation and cost control measures. Notably, adjusting for one-time cost...

Birlasoft Ltd. has lost -37.71% in the last 1 Year

Birlasoft Ltd.

24 May 2018

422.30

1.59%

Engineering-led beat; Keeping rating under review until demerger is completed

Mgmt Note: Birlasoft Ltd.

Motilal Oswal

24 May 2018 4QFY18 revenue growth of 6.5% QoQ was above our estimate of +2.8%, primarily driven by strength in Product Engineering (+11% QoQ) and Products & Platforms (+49% QoQ). IT Services business remained sluggish, with SAP declining by 3% and IES remaining flat QoQ. 60bp QoQ to 11.4%, largely in-line. However, the quarter included expenses related to the demerger of the Engineering business and the merger with Birlasoft. Excluding these, EBITDA margin was at 12.7% (+190bp QoQ). PAT of INR838m was up 35% QoQ (est. KPIT guided for 8-10% revenue growth in FY19, despite the strong exit to FY18, implying a CQGR of 0.8-1.5%, which is much lower than the 4% achieved in FY18.

Birlasoft Ltd. has an average target of 480.50 from 4 brokers.

Birlasoft Ltd.

05 Feb 2018

422.30

1.59%

Result Update:KPIT Tech.

Buy: Birlasoft Ltd.

Axis Direct

Board of Directors of KPIT Tech has approved a composite scheme for (a) amalgamation of Birlasoft (India) with KPIT (proposed merger); and (b) demerger of engineering business of KPIT into KPIT Engineering Ltd (KEL), and remaining KPIT-Birlasoft (IT Services business).

Birlasoft Ltd. has lost -30.01% in the last 6 Months

Is Birlasoft Ltd. worth buying?

848 Votes:

Buy 80.54%

Sell 11.79%

Hold 7.67%

RESEARCH REPORTS

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