NSE: MPHASIS | BSE: 526299

Mid-range Performer

Download real time

2790.20 -16.40 (-0.58%)

High vol. this week

NSE 31 Jul, 2025 3:31 PM (IST)

53,035.2

Market Cap

High in industry

1.5

Beta 1Year

Very High Volatility

MphasiS Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MPHASIS, BSE:526299 MphasiS Ltd.

MphasiS Ltd.

28 May 2019

2790.20

-0.58%

Mphasis (4QFY19): Core' growth intact. Maintain BUY

Buy: MphasiS Ltd.

Target

HDFC Securities

Following a strong growth delta from DXC-HP business over the past two years, Direct core is expected to drive revenue growth hearon. We remain positive on Direct core based on (1) High share of digital/new gen services (46% of rev, +49% YoY in FY19), (2) Strong deal trends (USD 616mn TCV ex-renewals in FY19 in Direct International), (3) Growth adjacencies from Blackstone portfolio (~5% of Direct Core revenue and 70% growth in FY19) with large opportunities, and (4) Traction via Microsoft/Google Cloud partnership. DXC-HP division is expected to moderate (11.5% CAGR) on a high base. Key Risks include slowdown in BFSI (high concentration) and INR appreciation. We maintain BUY on Mphasis following an inline 4Q. Growth drivers are sustainable (Direct Core-led). Mphasis is the most attractively valued midcap IT and we have a TP of Rs 1,330, at 18x FY21E.

MphasiS Ltd. average weekly volume is high.

MphasiS Ltd.

28 May 2019

2790.20

-0.58%

Mphasis (BUY): Mixed Q4 performance

Buy: MphasiS Ltd.

BOB Capital Markets Ltd.

Mphasis (MPHL) reported largely in-line Q4FY19 revenues on the back of growth in direct channel and Digital Risk income, whereas the DXC/HP channel was soft. Hedging losses versus our estimate of gains led to belowexpected EBIT margins of 15.8%, flat QoQ. Management is targeting aboveindustry growth in the direct core business and industry-level growth in DXC/ HP. The guided EBIT margin range remains at 15-17%. We see scope for...

Number of FII/FPI investors decreased from 1016 to 986 in Jun 2025 qtr

MphasiS Ltd.

28 May 2019

2790.20

-0.58%

Revenue growth steady; Profitability beat led by SGA leverage

Neutral: MphasiS Ltd.

Target

Motilal Oswal

estimate: +8% YoY) to INR3404m, and PAT was up 6% YoY (our estimate: 1% YoY) to INR2,662m. EBITDA margin was flat during the quarter at 16.8%, above our estimate of 16.4%, primary due to a 120bp dip in SGA. Gross margin shrank 90bp in the quarter, 120bp miss. HP/DXC channel drove growth in FY19: MPHL's FY19 revenues from HP/DXC channel grew 23% YoY, the key driver of growth. Direct International channel revenues grew 11% YoY in constant currency, of which Direct Core grew 16% YoY in constant currency. Overall Direct International revenues were impacted by decline in Digital Risk....

MphasiS Ltd. is trading above its 200 day SMA of 2712.3

MphasiS Ltd.

28 May 2019

2790.20

-0.58%

MphasiS

Buy: MphasiS Ltd.

Dolat Capital

View: Healthy revenue in the direct core to aid profitability MPHL reported a strong revenue, in line with our estimates, due to a healthy growth in the direct core channel. MPHL believes the direct core channel will grow more than the industry, given strong deal wins in the next gen services in FY20. The company expects growth in line with the industry in the HP/DXC channel, due to a large transformational deal. The company witnessed strong spending by banks in digital, rather than core IT spend, and is confident about strong growth in this vertical....

Number of FII/FPI investors decreased from 1016 to 986 in Jun 2025 qtr

MphasiS Ltd.

08 Feb 2019

2790.20

-0.58%

MPHASIS BFL LTD

Accumulate: MphasiS Ltd.

Target

Geojit BNP Paribas

EBITDA Margins was healthy at 16.8% (-60bps QoQ) while PAT grew by 29% YoY supported by lower effective tax rate. Relationship with HP is expected to be a large opportunity for MPHL as its wallet share is less than 10% of DCX's outsourcing spend (USD3.5bn)....

Prabhudas Lilladhar downgraded MphasiS Ltd. to Accumulate with a price target of 2920.0 on 25 Jul, 2025.

MphasiS Ltd.

08 Feb 2019

2790.20

-0.58%

MphasiS Ltd: Growth Drivers Remain Intact

Buy: MphasiS Ltd.

Target

Karvy

Growth Drivers Remain Intact: We remain positive about the future growth prospects of MphasiS. We expect revenues to grow at 12% CAGR FY18-21E. We are optimistic about the future potential from the Blackstone channel.

Prabhudas Lilladhar downgraded MphasiS Ltd. to Accumulate with a price target of 2920.0 on 25 Jul, 2025.

MphasiS Ltd.

28 Jan 2019

2790.20

-0.58%

Mphasis, Maruti Suzuki

Buy: MphasiS Ltd.

Target

BOB Capital Markets Ltd.

Mphasis' (MPHL) strong core performance in a seasonally weak quarter (5.3% QoQ US$ revenue growth in HP/DXC and direct channel businesses) was overshadowed by a sharp drop in Digital Risk revenues for Q3FY19. EBIT margins at 15.8% beat estimates this coupled with a favourable hedging position leads us to raise FY20/FY21 EPS forecasts by 5%/2%. We concurrently lower our target P/E to 17x from 18.5x due to risks of higher costs...

MphasiS Ltd. average weekly volume is high.

MphasiS Ltd.

25 Jan 2019

2790.20

-0.58%

Mphasis (3QFY19): Growth drivers intact. Maintain BUY

Buy: MphasiS Ltd.

Target

HDFC Securities

Maintain BUY with TP of Rs 1,390, 18x Dec-20E EPS. Mphasis posted in-line revenue and operating performance led by strong growth in Direct Core and HP-DXC channel. Revenue came at USD 283mn, 3.1/14.0% QoQ/YoY CC with stellar growth in Direct Core (56% of rev and 6% QoQ CC) and HP-DXC channel (29% of rev and 6.4% QoQ CC), offset by steep decline in Digital Risk.

MphasiS Ltd. is trading above its 200 day SMA of 2712.3

MphasiS Ltd.

25 Jan 2019

2790.20

-0.58%

Q3FY19 Result Update - Steady Quarter

Accumulate: MphasiS Ltd.

Prabhudas Lilladhar

Mphasis delivered strong performance during the quarter with beat on all parameters. Led by Q3 revenue beat, we now model Mphasis USD revenue to grow by 13.6/15/13.6% for FY19/FY20/21E (vs 12.7/13.1/13.6% modelled earlier). We expect HP channel /Direct Channel Mature markets revenues to grow by 23.1/14% YoY for FY19 and will remain the key growth drivers. However, Mphasis could fall behind other midcap peers on USD revenue growth for FY19. We model Mphasis' EBIT margin at 16.1/16.4/17% for FY19/FY20/FY21E (vs 15.2% in FY18). Our USD/INR assumptions are at...

MphasiS Ltd. average weekly volume is high.

MphasiS Ltd.

25 Jan 2019

2790.20

-0.58%

Strong performance in core segments dragged by Digital Risk

Neutral: MphasiS Ltd.

Target

Motilal Oswal

25 January 2019 MPHL's 3QFY19 USD revenue grew 12% YoY (2.6% QoQ) to USD283m, in line with estimate. EBITDA grew 21% YoY to INR3,306m (estimate of 26% growth) and PAT grew 29% YoY to INR2,709m (estimate of 16% growth). EBITDA margin declined 60bp QoQ to 16.8%, below our estimate of 17.2%, primarily due to lower margins in BFS business and on sharp decline in Digital Risk revenues. Direct core channel (5.9% QoQ CC, 27.6% YoY CC) and DXC channel (6.4% QoQ CC and 28.3% YoY CC) continued their strong momentum; but it was dragged by Digital Risk with revenues of USD22m, significantly below the company's anticipated stable-state base of USD28- 30m. Cash generation from operating business remained healthy, with cash balance at USD262m, after the completion of Buyback and acquisition of Stelligent. The Blackstone portfolio is a major contributor to the direct core business for MPHL, and it should grow to 5% of business by end-FY19.

Number of FII/FPI investors decreased from 1016 to 986 in Jun 2025 qtr

Is MphasiS Ltd. worth buying?

246 Votes:

Buy 78.86%

Sell 12.2%

Hold 8.94%

RESEARCH REPORTS

Accumulate SEE REPORTS >

pdf

Buy SEE REPORTS >

pdf