Infosys Ltd. share price target

Infosys for the quarter ended Sep 2021 registered a consolidated sales of Rs 29602 crore, a growth of just 6%QoQ and 20%yoy basis. On USD terms the revenue for the quarter was up by 5.7%QoQ basis and 20.7%YoY basis. On CC basis the revenue growth was 6.3% QoQ and...

INFO reported a growth of 6.3% QoQ CC, ahead of our estimate of 5.7%, on the back of a broad based performance. Large deal TCV of USD2.15b was a tad soft (net new at 37%). However, the management indicated good traction in medium and small size deals, and reiterated that the pipeline remains strong on robust demand. EBIT margin dipped 10bp QoQ to 23.6%, above our estimate of 22.3%, despite the impact of higher subcontracting expenses and wage hike in 2QFY22. Utilization (+70bp QoQ) and offshore mix (+50bp) remains...

Growth accelerated in Q2 with resilient operating margin Q2FY22 revenue grew by 6.3%/19.4% QoQ/YoY in CC and 5.7%/20.7% QoQ/YoY in US$ terms. The company witnessed broad based growth across all sectors, service lines, and geographies, with the digital solutions (56.1% of revenue) growing by +42.4% YoY in CC terms. US$100 mn clients were +1 QoQ to 35. Q2FY22 saw EBIT margin declining by 10bps QoQ to 23.6%. It was impacted by higher subcontracting cost (-50bps) and wage hike (-110bps), partly offset by cross currency (+30bps) and other operational efficiency (+80bps) and SG&A; (+30 bps)....

We recommend a BUY and assign 26x P/E multiple to its FY24E earnings of Rs 73.5/share to arrive at a TP of Rs 1,930/share, implying an upside of 13% from CMP.

Infosys Limited provides IT consulting and software services, including ebusiness, program management and supply chain solutions. The Group's services include application development, product co-development, and system implementation and system engineering. Infosys targets businesses...

of $2.6 Bn, +23.8% QoQ, +49.4% YoY. We note that net new wins at 30% were lower vs avg 66% net new in FY21. Infy raised FY22 revenue guidance to 1416% YoY CC from 12-14%, in-line with our estimates. We had already baked in 17.7%/12% YoY USD growth in FY22/23E. Infy reported margin of 23.7%, -78bps QoQ (Ple: 24.1%, Cons:24.6%) led by higher sub-con (+110 bps QoQ) and employee hiring, retention costs partially offset by all-time high utilization (excluding trainees at 88.5%) and offshoring (75.9%). Discretionary expenses including travel are expected to inch up in coming quarters. Continued aggression was seen on hiring front with net...

We recommend a BUY rating on the stock and assign a 28x P/E multiple to its FY23E earnings of Rs 62.3/share to arrive at a TP of Rs 1,740/share, implying an upside of 10% from CMP.

Infosys for the quarter ended Jun 2021 registered a consolidated sales of Rs 27896 crore, a growth of just 6% QoQ and 18% yoy basis. On USD terms the revenue for the quarter was up by 4.7% QoQ basis and 21.2% YoY basis. On CC basis the USD revenue growth was 4.8% QoQ and...

Expect a further upward revision in its guidance Motilal Oswal values your support in the Asiamoney Brokers Poll 2021 for India Research, Sales, Corporate Access and...