Tech Mahindra Ltd. share price target

TECHM's Q2FY21 result was a beat to our forecast. Revenue grew by 2.9% QoQ in CC (+4.8% QoQ in US$ terms). EBIT margin improved by a whopping ~410bps QoQ to 14.2% (6-quarter high) and was a big beat to our forecast. EPS of Rs12.2, +9.4%/-5.5% QoQ/YoY was also a beat. In Q2FY21, TECHM has secured large deals with TCV of US$421 mn (US$207 mn in Communications and US$214 mn in Enterprise business). We factor Q2FY21 beat and increase FY21/22E revenue forecast by 2.8%/2.4%, EBIT margin forecast by 354bps/126bps to 12.7%/12.5% and EPS by 14%/4%. We have introduced FY23 financials and forecast revenue/EPS CAGR of 9.5%/11.4% over...

Tech Mahindra reported better than expected results in Q2 FY21 in all the terms. Revenue for the period of Q2 FY21 stood at Rs. 9,371.8 cr grew by 4.8% QoQ and 2.9%QoQ in CC terms. Operating margin reported a marginal growth of 380bps and stood at 18.3%.

We maintain our Buy rating on Tech Mahindra (TechM) with a revised PT of Rs. 910, given it is trading at a sharp discount to its large peers. Revenue growth in Q2 would be driven by strong recovery in BPO business,...

Initiate coverage on Tech Mahindra (Tech M) with Buy rating and price target of Rs. 850, given potential 5G opportunity and anticipated rise in margins. Our positive stance underpins company's comprehensive capabilities in telecom...

While valuation looks expensive in the short-term, we remain bullish on TechM's long-term outlook, with strong growth seen in enterprises segment and gradual recovery in communication vertical. We retain our BUY rating on the stock with a TP of Rs. 779 on 15x FY22E adj. EPS. Decent quarter despite challenging time Company recorded revenue growth of 5.2% YoY to Rs. 9,106cr (vs. Rs. 8,653cr in Q1FY20). The increase in revenue driven by growth in IT segment (91.9% of total revenue) 6.5% YoY to Rs. 8,367cr, which was partially offset by declined in BPO...

The company reported deal wins worth $300 million during the quarter under review, with $100 million worth of communication contracts and $190 million in enterprise space. Manufacturing was the worst hit vertical, with revenue from the segment declining 11%...

We recommend a BUY on Tech Mahindra with a Target Price of Rs 710, an upside of ~7% from CMP of Rs. 664 and Stop Loss Rs 630.

Tech Mahindra reported better than expected results in Q1 FY21 in all the terms. Revenue for the period of Q1 FY21 stood at Rs. 9,106.3 cr decline by 4% QoQ and 6%QoQ in CC terms. Operating margin reported a marginal growth of 11bps and stood at 14.3% aided mainly by INR depreciation