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Accumulate Mindtree; target of Rs 5416: Hem Securities

Hem Securities recommended accumulate rating on Mindtree with a target price of Rs 5416 in its research report dated November 16, 2021.

November 18, 2021 / 11:54 AM IST
 
 
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Hem Securities report on Mindtree


Mindtree Ltd Q2FY22 consolidated revenues came in at ₹2,586.2 Cr, up 34% YoY and up 13% QoQ. EBITDA for Q2FY22 stood at ₹530.7 Cr, up 36% YoY and up 14% QoQ. EBITDA margins for Q2FY22 came at 20.5% as compared to 20.27% in Q1FY22 and 20.26% in Q2FY21. PAT for Q2FY22 stood at ₹398.9 Cr, up 57% YoY and up 16% QoQ.



Outlook


We initiate a “BUY” rating on the stock and value the stock at 48.5x FY23E earnings to arrive at the target of ₹5416.

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first published: Nov 18, 2021 11:54 am

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