Hold Mphasis: target of Rs 2725: ICICI Direct
ICICI Direct recommended hold rating on Mphasis with a target price of Rs 2725 in its research report dated July 23, 2021.
July 27, 2021 / 04:14 PM IST
ICICI Direct's research report on Mphasis
Mphasis Ltd (Mphasis) offers application services, BPO and infrastructure services, BFSI, technology, communication & logistic services The company’s direct international revenues have grown 22.5% YoY in FY21 and are expected to grow at a healthy pace in coming years OCF, EBITDA of 75% and double digit return ratio (with RoCE of 20%)
However, recent run up in price prompts us to maintain HOLD rating We value Mphasis at Rs 2725 i.e. 29x P/E on FY23E EPS
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