Sharekhan's research report on Birlasoft
The company under the revamped leadership has been consistently delivering strong constant revenue growth of 1.9-3.1% q-o-q, with EBITDA margin uptick of 70bps during 9MFY24 despite macro-overhang. The company is investing in emerging tech capabilities to be future ready and agile while increasing and diversifying its offerings. Focus on sales, increasing cost takeout deals, account mining, and rationalising of account tail are likely to result in strong deal signings and augment the robust order book providing strong revenue visibility.
Outlook
We maintain Buy on Birlasoft with an unchanged PT of Rs. 950, as it remains well placed to deliver top-quartile performance guided by revamped management and aided by robust order book and deal ramp-ups. At CMP, the stock trades at 28.7x/22.8x its FY25/26E EPS.
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