Nirmal Bang's research report on Hinduja Global Solutions
Q3 being a seasonally strong quarter for the company, HGS had reported strong set of numbers. Net sales grew by 5.6% came in at Rs 956.3 cr in Q3FY17 vs. Rs. 905.2 cr in Q2FY17. Higher utilization levels have led to increase in the sales of the company.
Outlook
At CMP, the share is trading at EV/Ebtida of 3.0x and PE of 5.4x FY18E EPS. We recommend to BUY HGS with target price of Rs 757 (29.5% stock return). Our target price is based on 7x FY18 EPS.
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