View 36 reports from 11 analysts offering long term price targets
for Wipro Ltd..
Wipro Ltd. has an average target of 550.70. The consensus estimate
represents an upside of 39.68%
from the last price of 394.25.
- This broker has downgraded this stock from it's previous report. (eg. - Buy->Hold)
- Broker has maintained previous recommendation but reduced share price target.
- This broker has upgraded this stock from it's previous report.(eg. - Sell->Hold)
- Broker has maintained previous recommendation but increased share price target.
AU Small Finance Bank: AUBANK's earnings were in line with estimates, led by stronger asset yields, offset by sustained elevated operating expenses. Asset quality was stable with GNPA/credit costs at 2/0.4% (annualised), while slippages were marginally higher at 2.5% with delinquencies from the restructured pool (now at 2.1% of loan book). Business momentum remained healthy, driving AUM growth of +37% YoY, with traction in the wheels' segment (+44% YoY). AUBANK continued to step up investments in its franchise-building blocks and new asset classes, which are likely to drag medium-term profitability metrics (opex to assets at ~4% and cost to income ratio at ~60%). We adjust our FY23E/FY24E estimates downwards by 5/3% to factor in higher opex and maintain REDUCE with a revised TP of INR600 (3.8x Mar'24 ABVPS). Wipro: Wipro's (WPRO IN) margin goalpost timelines have moved ahead with investments to maintain' the current growth trajectory. Q1 performance was a slightly lower revenue (although consistent at mid-point of the guided band) and delivered lower margins. Key positives include: (1) strong large deal bookings with 18 large deals of TCV USD 1.1bn (vs. USD 2.3bn in FY22) aiding growth visibility with overall TCV/ACV growth of 32% and 18% YoY; (2) continuity of organic growth consistency with Q2 guidance of 3-5% QoQ CC (organic 1.8-3.8%), supported by recent wins (Petrobras, Credit Agricole, Scania) and commentary of all-time high deal pipeline as well as recent outperformance on large account trend; (3) stronger growth in headcount relative to peers with fresher hiring momentum (10k in Q1FY23 and 30k targeted in...
Supreme Industries: We maintain BUY on Supreme Industries (SIL), keeping the TP unchanged at INR 2,770/share (SOTP-based). In Q4FY22, SIL's consolidated revenue rose +23% YoY to INR 25.6bn on strong piping demand rebound. However, gross margin contraction pulled down EBITDA/APAT by 23/28% YoY to INR 3.91/3.24bn respectively. As demand has picked up since March-22 and even resin prices have started to cool off April onwards, the management remains confident of strong volume growth in FY23. The company is also expanding its capacity amid a healthy demand outlook. IndiaMART InterMESH: IndiaMART posted in-line revenue growth of +7.1% QoQ but margins took a severe hit (down 1,347 bps QoQ to 28.4%) due to investments in sales capacity (+42.6% YoY). The paid supplier addition of ~13k (highest ever) was higher than our estimate of 8K and the additions were primarily in the monthly bucket. The portfolio churn has reduced across all buckets, indicating a sustained momentum. Management has indicated paid supplier addition of ~8-9k/quarter, supported by investments in sales, technology, and channel partners. Margin decline was primarily on account of a sharp increase in employee and outsource sales cost, with the prime objective to boost growth. We maintain our positive stance, based on (1) higher growth visibility, led by 31% YoY increase in cash collections; (2) uptick in customer addition and investment in growth engine; (3) economic recovery leading to improving health of MSME; (4) completion of busy acquisition with huge cross-sell opportunity; and (5) tender buyback offer of INR 1bn (~0.5% of equity). We increase revenue estimate by...
Supreme Industries: We maintain BUY on Supreme Industries (SIL), keeping the TP unchanged at INR 2,770/share (SOTP-based). In Q4FY22, SIL's consolidated revenue rose +23% YoY to INR 25.6bn on strong piping demand rebound. However, gross margin contraction pulled down EBITDA/APAT by 23/28% YoY to INR 3.91/3.24bn respectively. As demand has picked up since March-22 and even resin prices have started to cool off April onwards, the management remains confident of strong volume growth in FY23. The company is also expanding its capacity amid a healthy demand outlook. IndiaMART InterMESH: IndiaMART posted in-line revenue growth of +7.1% QoQ but margins took a severe hit (down 1,347 bps QoQ to 28.4%) due to investments in sales capacity (+42.6% YoY). The paid supplier addition of ~13k (highest ever) was higher than our estimate of 8K and the additions were primarily in the monthly bucket. The portfolio churn has reduced across all buckets, indicating a sustained momentum. Management has indicated paid supplier addition of ~8-9k/quarter, supported by investments in sales, technology, and channel partners. Margin decline was primarily on account of a sharp increase in employee and outsource sales cost, with the prime objective to boost growth. We maintain our positive stance, based on (1) higher growth visibility, led by 31% YoY increase in cash collections; (2) uptick in customer addition and investment in growth engine; (3) economic recovery leading to improving health of MSME; (4) completion of busy acquisition with huge cross-sell opportunity; and (5) tender buyback offer of INR 1bn (~0.5% of equity). We increase revenue estimate by...
all companies in NIFTY IT Index, several mid-cap, small cap IT firms and new age internet players. Management commentary across companies indicate that strong demand environment is expected to continue over medium term and revenue growth is no longer contingent on winning large deals. Pricing environment has also improved. Additionally, companies are doing aggressive fresher hiring resulting in pyramid balancing which will provide considerable margin tailwinds in FY23....
technology development services cost fell from 13.88% to 13.86%. Other income fell 5.59% to Rs 476.5 crore. PBIDT fell 0.27% to Rs 4516.9 crore. Provision for interest fell 3.84% to Rs 140.3 crore. PBDT fell 0.27% to Rs 4516.9 crore. Provision for depreciation fell 3.34% to Rs 745.9 crore....
As a result, EBITDA rose 3.0% YoY, despite significant contraction in EBITDA margin (-540bps YoY to 21.2%, owing to higher operating expenses and acquiring Edgile and LeanSwift Solutions). PAT remained...
five years (from ~| 178 in January 2017 to ~| 640 levels in January 2022). We maintain BUY on strong deal momentum especially on large size deals Target Price and Valuation: We value Wipro at | 750 i.e. 26x P/E on FY24E EPS...
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