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Tech Mahindra – One of the best value buys in the IT space

In the current uncertain environment, where India–linked plays face a huge question mark on the earnings trajectory, TechM, with earnings visibility and valuation discount, is a strong candidate to go long on

April 27, 2021 / 11:16 PM IST
Tech Mahindra – One of the best value buys in the IT space

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Tech Mahindra (Tech M, CMP: Rs 962, Market Cap: Rs 93,165 crore) has posted a decent set of numbers in Q4 FY21. While revenue performance was tepid, margin continued its northward journey, deal win was extremely strong and deal pipeline robust. The company has guided to a double–digit growth in FY22 along with an improvement in margin compared with FY21. While the decline in workforce, record utilisation and a tad increase in attrition do point to a supply crunch,...

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