The 15 reports from 5 analysts offering long term price targets
for Coforge Ltd. have an average target of 2529.00. The consensus estimate
represents a downside of -1.99%
from the last price of 2580.35.
Background: NIIT Technologies rebranded to Coforge ltd is a leading global IT solutions organization. The Company focuses on three key verticals which are Banking and Financial Services (17% of revenues), Insurance (34% of revenues), and Travel/ Transportation (19% of revenues). The company has around 109 active clients across US (48% of revenues), EMEA (36% of revenue) and Row (16% of revenues). The Company in 2QFY21 added 12 new clients and won 2 large...
Coforge reported robust 8.1% CC growth QoQ (Ple: 7.5%) exceeding their guidance of 7% CC growth in Q2. This translated to 154.9 USD Mn revenue up 10.7% QoQ growth. (Ple/Cons: 10%). Revenue growth was broad-based with Insurance (34% of revs) posted growth of ~14% QoQ USD, Travel & transport (19% of revs) revived & posted 10.5% QoQ USD on account of strong wallet share expansion amongst existing large clients. EBIT Margin expanded by 221 bps QoQ at 13.8% in Q2. They have undertaken cost optimization measures to improve margins and they will maintain margins at...
NIIT Tech (NITEC) reported a poor Q1FY21 performance marked by a 9.8% QoQ USD revenue decline due to weakness in the travel and transportation vertical.
NIITT had exposure to airlines that accounted for ~13% of overall revenues in Q4FY20, which has dropped to 5% in the current quarter. This was the primary reason for the sharp fall in revenues. However, going forward, the company believes airline revenues have bottomed out. It is expected to remain at these levels in the near term. Further, rail, logistics, hospitality and airports in the travel vertical were stable and are expected remain stable. In addition, we expect banking, insurance and healthcare verticals to register improving growth (as seen in this quarter) on the back of large deal wins....
Background: NIIT Technologies is a leading global IT solutions organization. The Company focuses on three key verticals which are Banking and Financial Services (15% of revenues), Insurance (31% of revenues), and Travel/ Transportation (27% of revenues). The company has around 106 active clients across US (46% of revenues), EMEA (40% of revenue) and Row (14% of revenues). The Company added 41 new clients in FY2020 and won 3 large deals in 4QFY20. NIIT Tech derives...
Large deal wins in previous quarters to drive growth in FY21E During the quarter, the company reported robust revenues despite headwinds from the travel sector. NIITT has exposure to airlines that account for ~14% of overall revenues. This is expected to remain under pressure. However, rail and airports in the travel vertical are expected to remain stable. Further, although the company is expected to report a single digit decline in Q1FY21E revenues, we expect revenues to grow in Q2FY21E based on the large deals won in Q4FY20 and Q3FY20 (as indicated by the company). As a...
Results inline, Deal Wins supports confident commentary NITEC reported 3% QoQ CC revenue growth (our estm: 2%) largely driven by traction in Insurance (up 6% QoQ) and Others Vertical (up 11% QoQ) that covered up for decline in Travel vertical (-3.8% QoQ). OPM was in-line with our estimates at 14%. PAT stood at ` 1.1Bn below estm due to provisioning related exceptional loss of ` 128mn. It has added $180mn in TCV including 3 large deals (2 in BFSI) during the quarter. Deal TCV on TTM basis is up 16% at $749mn. The 12M...
The spread of Covid-19 has led to lockdowns in many countries globally and could have adverse economic implications. In addition, the recent fall in crude prices could also have an adverse impact of fiscal health of oil producing countries. As a result, IT companies, which have considerable exposure to verticals such as oil, energy & utilities; banking & capital markets; manufacturing and travel & transport could see an adverse impact from the ongoing crisis. Companies like Wipro, Infosys in large cap and MindTree, NIIT Tech, Sonata software, Cyient, Accelya Solutions among...
Background: NIIT Technologies is a leading global IT solutions organization. The Company focuses on three key verticals which are Banking and Financial Services (16% of revenues), Insurance (30% of revenues), and Travel/ Transportation (29% of revenues). The company has around 100 active clients across US (48% of revenues), EMEA (37% of revenue) and Row (15% of revenues). The Company added 40 new clients in FY2019 and won 6 large deals, spread across US and...
Large deal wins, healthy order book to drive revenues US$ revenues grew 1.7% QoQ to $151.3 million mainly driven by transport vertical partially driven by weakness in banking & financial services (client specific) and digital revenues. Weakness in banking services is likely to see a revival in growth as the company has won a large deals from its challenged client. Further, NIITT has hired three new leaders in top positions (CFO, digital business & global sales), which are expected to drive the momentum. In addition, strong fresh order intake (grew strong 24% QoQ) and robust...
Sector: IT /Mid-Cap | Earnings Update 2QFY20 Background: NIIT Technologies is a leading global IT solutions organization. The Company focuses on three key verticals which are Banking and Financial Services (16.7% of revenues), Insurance (31.1% of revenues), and Travel/ Transportation (27.8% of revenues). The company has around 95 active clients across US (49% of revenues), EMEA (37% of revenue) and Row (14% of revenues). The Company added 40 new clients in FY2019 and won 6 large deals, spread across US and EMEA....
Large deal wins, healthy order book to drive revenues Wining large deals, hiring senior leaders in sales position, higher commission to sales for wining large deals, scaling the new wins, mining existing clients and strategic acquisition has been the key strategy of the company to drive revenues in the long term. This strategy has led to highest order book for the company in recent quarters and robust organic growth. The strength of the strategy is also visible in the current quarter in which the company reported organic growth of 3.0% QoQ despite headwinds from...
NIIT Tech (NITEC) reported organic revenue growth of 4.1% QoQ CC and EBITDA margins of 18.3% in Q2FY20, marking a better-than-expected operating performance.
In Q1FY20, the company had fresh order intake of USD 175 Mn bringing the order book executable over the next 12 months to USD 395 Mn vs USD 347 Mn in Q1FY19.
